cryptobusiness
Bitcoin (BTC) shook the market today as it lost the $64K mark to stare at the $60K mark. That saw many altcoins bleeding with significant daily losses. However, Fantom (FTM) remained green over the past day, gaining over 9% from $0.5392 to $0.5865 at press time. Fantom Foundation catalyzes FTM revivalPositive ecosystem developments likely kept the altcoin afloat as the crypto market deteriorated. On 20 June, Fantom Foundation announced optimistic moves to back the launch of the Sonic network. The organization revealed plans to allocate 200M FTM coins (worth about $120 million) to fund firms an...
Invezz
Polygon (MATIC) seems prepared for upswings towards the resistance level of $1. The altcoin displayed increased momentum after a consolidation phase, confirming enhanced investor interest and potential price surges. Moreover, Polygon boasts a stable number of wallets, suggesting consistency in new address creation. Meanwhile, the project has seen slight upticks in wallets holding MATIC balances. That indicates surges in network usage of accumulation by holders, signaling bullish moves for the altcoin. Nonetheless, IntoTheBlock data reveals intriguing stats. While wallets with balances increase...
Invezz
Binance exchange made a crucial announcement about Tether and Telegram-based crypto project Toncoin (TON). The trading platform successfully integrated USDT into the Toncoin platform on Friday, June 21. That marks a crucial development, adding value to the stablecoin and TON. Binance integrates USDT on the Toncoin networkThe exchange confirmed the optimistic news on Friday and opened deposits and withdrawals. That means Toncoin users can now transact using stablecoin USDT. Meanwhile, Tether exec Paolo Ardoino revealed this development on 19 April. He issued a joint announcement with the Telegr...
Invezz
Crypto investors and traders everywhere celebrated when news broke this week that United States regulator, the Securities and Exchange Commission (SEC), is in the process of concluding and ending its investigation into Ethereum. This means that the SEC will not recognize ETH transactions as securities transactions. But, for those of us who aren’t US regulation lawyers, what exactly does this mean? Invezz spoke to three Ethereum experts: Greg Benhaim, portfolio manager at digital asset investment manager 3iQ, crypto influencer Aquarius Maximus and Fineqia analyst David Morrison, on what the mov...
Invezz
The crypto market might be gloomy but sentiment remains positive. The launch of the much-anticipated zkSync (ZK) earlier this week is at the heart of the market buzz. Worth noting is the SEC’s approval of ETH ETFs—the excitement still lingers. Following the recent market setback, Starknet (STRK) aims for $1.00, while Shiba Inu (SHIB) picks up steam. Meanwhile, as the search for cushions against market turbulence heats up, the Rebel Satoshi Arcade (RECQ) has entered investors’ radars. At the same time, its staggering growth potential means holders can as well kill two birds with a stone. Hence,...
Invezz
A local source revealed that Japan’s leading crypto exchange, bitFlyer, is negotiating to buy all shares of FTX’s Japanese subsidiary. Japan’s NHK news confirmed that the FTX firm is making adjustments as it prepare for business expansion and new acquisition. The deal, worth millions of dollars or billions of yen, will see bitFlyer management taking over FTX Japan. Nevertheless, the legal tangles and the mistrust among customers and investors likely challenge the deal. US regulators are closely watching the deal as it comes amidst FTX’s insolvency proceedings. bitFlyer will likely introduce ma...
Invezz
The upcoming launch of the Ethereum (ETH) Spot ETF on July 1, 2024, has created a buzz in the crypto markets. This ETF is expected to bring the second-largest cryptocurrency by market capitalization into mainstream brokerage accounts and attract institutional investors. What is the Ethereum (ETH) ETF?An exchange-traded fund (ETF) is an investment vehicle traded on stock exchanges that holds assets such as stocks, commodities, or bonds. The ETH Spot ETF is distinct because it is directly backed by Ethereum, meaning it holds actual ETH in its reserves. This setup allows investors to gain exposur...
Invezz
The meme coins market flourished in 2024, with several token hitting new all-time highs. While the craze seems to fade, with celebrity tokens denting the space, Solana-based SolJu (SOLJ) has come to the rescue. Solju is currently under presale, and the project appears attractive as market players shift from gambling to prioritizing fundamentals. Why is SolJu unique?The newly launched crypto wants to revolutionize the meme coin world with real-world involvement. Firstly, Solju creators brought South Korea’s pop culture to the Solana network. That positions Solju for increased popularity as Sola...
Invezz
While the altcoin market stays on edge with Bitcoin (BTC) hovering below $66,000, AI-based digital assets have shown noteworthy gains over the past day. This trend shows the growing interest and potential resilience of AI cryptocurrencies in an otherwise uncertain market. The overall market capitalization of top AI cryptocurrencies surged nearly 5% within the last 24 hours, reaching $30.33 billion. This increase indicates a robust confidence among investors in AI-driven digital assets, even as the broader cryptocurrency market experiences turbulence. Fetch.ai leads the gainersFetch.ai (FET) em...
Invezz
Bitget, the world’s leading cryptocurrency exchange and Web3 company, has navigated the challenges of May with notable success, solidifying its position as a top derivative exchange. Despite a general decline in trading volumes across centralized exchanges, Bitget recorded the highest capital inflow and a significant surge in open interest. Bitget stands out in a declining marketAccording to CCData’s report, the combined spot and derivatives trading volume on centralized exchanges fell by 20.1% to $5.27 trillion in May. This decline followed events such as the Bitcoin Halving and BTC ETF annou...
Invezz
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