Author: Digicoinvision
Injective (INJ) has hit a five-month high after retesting a crucial resistance level on Monday and attempting to break out from a bullish pattern. Some analysts suggested that the cryptocurrency will have a massive run in the coming weeks. Related Reading Injective Retests Crucial Levels Over the past month, Injective has recorded a substantial bullish performance, climbing 40% since late June, when the cryptocurrency traded below the $10 support. Since hitting its December high of $35.26, INJ has retraced around 60%, falling below this key support multiple times. During the April-May market recovery, the cryptocurrency broke out of its multi-month…
Google search data shows interest in stablecoins surged to an all-time high this month as regulations were greenlit, stablecoin issuance and supply skyrocketed, and institutions increasingly look to launch their own tokenized fiat equivalents. The previous peak for stablecoin searches was in May 2022, just after the depeg of the Terra (USTC) algorithmic stablecoin and the collapse of the Luna ecosystem. More recent data shows search interest surged in mid-June and then again in mid-July following the passing of the Guiding and Empowering Nation’s Innovation for US Stablecoins (GENIUS) Act into law on July 18. “People are waking up to their potential,”…
A market intelligence firm is warning traders that leverage is building up in Ethereum (ETH), creating volatility risk for bulls. In a new thread on the social media platform X, the crypto analytics platform Altcoin Vector says that leverage risk is building within the second-largest digital asset by market cap despite ETH’s most recent price rise being backed by the spot market and exchange-traded funds (ETFs). “ETH Futures OI (open interest) just hit a new ATH (all-time high) – double since May – and price is climbing with it. Unlike late 2024, this rise is backed by ETF inflows and…
The world’s largest publicly-traded bitcoin miner is also the world’s second-largest bitcoin holder among publicly listed companies. Mara Secures $950M Funding to Expand Bitcoin Holdings Bitcoin mining firm Mara Holdings (Nasdaq: MARA) has raised $950 million by issuing interest-free senior convertible notes to private qualified investors, according to a Monday press release. The funds will […]
BitMine Immersion Technologies dipped nearly 27% despite a “chairman’s message” from FundStrat’s Tom Lee to bolster confidence in the Ethereum treasury company. BitMine on Monday announced the new “The Chairman’s Message” monthly series, which is designed to give an insight into BitMine’s broader crypto plan.During the presentation, Lee talked about the firm’s long-term Ether plan, such as holding 5% of the supply, and projections of the token’s future valuation. A slide shared by the firm on X also suggested the implied value of Ether (ETH) could be $60,000, citing unnamed research firms. Source: BitMineHowever, the messages failed to resonate with shareholders,…
What started as a symbolic label (“Crypto Week”) ended with real legislative firepower. Meanwhile, ethereum seized the spotlight as the market’s narrative driver. This editorial is from last week’s edition of the Week in Review newsletter. Subscribe to the weekly newsletter to get the editorial the second it’s finished. Crypto Week Delivered as Ethereum Broke […]
A Terminal Total Difficulty (TTD) of 50000000000000000 has been selected for the Ropsten Merge.Stakers and node operators must manually override the TTD in both their execution and consensus layer clients before June 7, 2022.Proof-of-Work testnets can have volatile hash rates and the exact timing of The Merge on Ropsten is hard to predict accurately. Assuming no unexpected hash rate fluctuations, we expect The Merge to happen around June 8-9, 2022.Note that syncing an execution layer client on Ropsten may take several hours to days and is required to run through The Merge. Background Earlier this week, the Ropsten testnet’s transition…
Key Takeaways OP rallied 13% on Upbit listing news, testing key resistance. Bullish traders dominate, but the next move hinges on $0.85 breakout. Optimism [OP] rallied over 13% in the last 24 hours, hitting a two-month high and entering the top gainers list. The surge followed the news of OP’s upcoming spot listing on Upbit, South Korea’s largest crypto exchange. Why is Optimism’s price rising? According to the listing announcement, South Korean users will be able to trade OP in pairs such as Korean Won (KRW), Bitcoin [BTC], and Tether [USDT]. The impact of the upcoming listing is notably evident…
The US Securities and Exchange Commission (SEC) on Monday delayed its decision on the proposed Truth Social Bitcoin exchange-traded fund (ETF), extending the review deadline to Sept. 18 from Aug. 4.The fund, backed by the Trump Media and Technology group, is seeking approval to list the Truth Social Bitcoin ETF on the NYSE Arca exchange under the SEC’s commodity-based trust share framework. Source: SEC.govThe agency, which can take up to 270 days to approve or reject ETF applications, said it extended the review period to allow more time to evaluate the proposal and any issues raised.The SEC continues to exercise cautionThe Trump-backed…
On-chain data shows the Ethereum Exchange Reserve has plunged by more than 1 million ETH over the past month. What does this mean for the asset? Ethereum Exchange Reserve Has Seen A Sharp Decline In a new post on X, analyst Ali Martinez has talked about the latest trend in the Exchange Reserve of Ethereum. The “Exchange Reserve” here refers to an on-chain indicator that keeps track of the total amount of ETH that’s sitting in the wallets associated with centralized exchanges. When the value of this metric goes down, it means the investors are withdrawing a net number of…