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According to a crypto journalist, Solana ETF applications may have been withdrawn. Here are all the details about the development.
Brett, the "Base mascot" who has the same origin as Pepe, seems to have brought a negative chain reaction to Base's initial user group.
Share link:In this post: Nate Gerasi says smart money interest in crypto is why memecoins have collapsed. The ETF Institute founder believes memecoins decline is good for crypto’s long-term adoption. A crypto analyst argued that memecoins are not dead and will soon rebound.
Share link:In this post: Pitchbook’s Q2 report revealed that Crypto startups venture capital investment slightly grew in the second quarter. Crypto startups reportedly closed fewer deals between April and June compared to January and March 2024. The report comes soon after Pantera and Paradigm revealed plans to boost crypto fundraising efforts.
Global stocks had their best week in almost a year, bouncing back from a rough start in August. The S&P 500 rose nearly 4%, and Japanese stocks jumped almost 8% this week. Bitcoin’s price is volatile but could benefit if the stock market rally continues.
Share link:In this post: Stocks are soaring as U.S. inflation slows down, but the crypto market isn’t feeling the love. The government moved thousands of Bitcoins, triggering fears of a potential sell-off. Crypto fans were disappointed when Donald Trump’s interview with Elon Musk didn’t mention anything about crypto.
- 10:00Analysis: The Correlation Between Bitcoin and US Stocks Continues to Weaken, Gold May Become a Leading Indicator for BTCCryptoQuant analyst Timo Oinonen released a report stating that the most important current trend for Bitcoin is its decoupling from US stock indexes. Over the past seven days, Bitcoin has significantly diverged from the S&P 500 and the Nasdaq Composite Index, with its correlation to traditional stocks and tech stocks weakening. The correlation coefficient between Bitcoin and the S&P 500 has decreased from 0.88 at the end of 2024 to 0.77, and its correlation with the Nasdaq has also dropped from 0.91 in January to 0.83. Notably, the correlation between Bitcoin and gold is strengthening, with the coefficient rising from -0.62 at the beginning of the month to the current -0.31. Historically, Bitcoin has often lagged behind gold's performance by several months. If the current decoupling trend from stock indexes continues, with other conditions remaining unchanged, gold may become a leading indicator for Bitcoin.
- 10:00Suspected Sale of 100 WBTC to Take Profit by a Cyclical Long Position WBTC Whale 40 Minutes Ago, Equivalent to $9.19 MillionAccording to on-chain analyst Ai Yi's monitoring, "the whale that has been in a cyclical long position on WBTC at an average price of $69,079 since July 2024" is suspected to have sold 100 WBTC to take partial profit 40 minutes ago, equivalent to $9.19 million. Currently, the whale still has 1,053.79 WBTC (approximately $97.36 million) as collateral and has borrowed 43.68 million USDT, with the remaining portion still having a floating profit of $24.47 million.
- 09:49Kuwait Issues Warning Against Illegal Cryptocurrency MiningAccording to Bitcoin.com, on April 22, the Kuwaiti Ministry of Interior issued a statement declaring cryptocurrency mining an illegal activity, citing violations of several national laws and pressure on the country's power infrastructure. The ban involves the 1970 Amendment No. 31 to the Criminal Law, the 2014 Regulation of Communications and Information Technology Law No. 37, the 1996 Industrial Law No. 56, and the 2016 Municipal Regulations No. 33, among other laws. The Kuwaiti Ministry of Interior pointed out that unauthorized cryptocurrency mining leads to "excessive energy consumption, increasing the load on the public power grid," which causes power outages in residential, commercial, and industrial areas and affects essential service supplies. The warning was jointly issued by the Ministry of Electricity, Water and Renewable Energy, the Communications and Information Technology Regulatory Authority, the Public Authority for Industry, and the Municipal Department. Authorities have requested involved mining entities to "rectify immediately" and emphasized that legal actions, including referral to investigative departments, will be taken against violators.