Author: Kent Tenix

Ethereum is the second most valuable asset among cryptocurrencies and the leading token on Web 3 and decentralized finance. Ki Young Ju, CEO of CryptoQuant stated that although Ethereum‘s Market Value to Realized Value(MVRV) is increasing, Its on chain reaction suggests that it may not be overvalued yet. MVRV is a key metric to check if the token is overvalued or not, and is heating up, as compared to Bitcoin, one analyst suggests that the asset may not yet be in the overbought zone. CryptoQuant CEO Ki Young Ju pointed out that while Ethereum’s MVRV is increasing fast, there’s also…

The United States Security and Exchange Commission announced the investigation of Ethereum 2.0 whether to consider it as a security or not. This announcement made Ethereum surge 5% as big investors are ready to dive into the ETH pool, giving bullish sentiments to the crypto market. In a recent report shared by CoinGape, the Ethereum community prepared well to get the approval of the highly anticipated Spot ETH ETF. ConsenSys vs. SEC Impact: Ethereum (ETH) Price Rises On Wednesday morning, a significant rise hit the Ethereum price, making it spike by 5% after heading an announcement from Consensys that the…

While the Ethereum network has been growing fast, recent evidence from on-chain sources shows that many investors have been leaving Bitcoin recently. The Biggest Decline in Bitcoin Holders Since March The number of Bitcoin holders has dropped for the first time in three days since March, as per data from the on-chain analytics firm Santiment. The “ Total Amount of Holders” metrics, as its name implies, count all the wallets inside a cryptocurrency network with some coins. An increase in this indicator shows that either new investors are joining the blockchain or that investors who had left before are coming…

The fast adoption of the Shiba Inu (SHIB) ecosystem in the recent past has been attributed to the increased growth of Shibarium. For instance, in the most current crash of the cryptocurrency market after Bitcoin dipped below $65K, the second largest dog-themed cryptocurrency in the market, Shiba Inu (SHIB), dropped by more than 11%, hovering near $0. 0000175 on Tuesday. The meme coin, with a high market cap that currently stands at about $17. 6 billion when fully diluted, has received a lot of attention from crypto whale investors. As per the on-chain data available on IntoTheBlock, Shiba Inu has…

The instability in the crypto market caused Bitcoin to drop its value from its immediate resistance of $67K, making major Altcoin’s price drop by double-digits. On June 18, the crypto market badly bleeds causing famous altcoins to drop their price by more than 10%, however, there is no clear cause. In the last 24 hours, the crypto market cap has significantly dropped 3.5% to $2.46 trillion. A major drop hit the altcoin making them bleed like Solana drop to 11.17% in the last 24 hours and trading at $135. The famous Dogecoin dropped by 13.25%, but Shiba Inu bled the…

Bitcoin continued trading within a narrow corridor around $66,000-$66,500 over the weekend, with several attempts to break above the latter mark failed. NEAR, AVAX, and UNI altcoins are bearish on the daily chart and are leading the decline. Bitcoin Pulls Back Below $66K Bitcoin started the previous business week targeting $ 70,000 but saw a $ 4,000 dump as bears seized the market before economic data and a Federal Reserve meeting. Bitcoin rose to $70,000 on high inflation rates but retreated to $65000 by the Fed’s failure to reduce the interest rate, unlike the ECB. BTC was trading at around…

On June 10, a local media outlet in South Korea, News1 reported that the FSC will regulate NFTs like cryptocurrencies if they don’t have characteristics that set them apart from virtual assets. The authorities further announced that the mass-produced NFTs are options to use against paper money and are marked as virtual assets. NFTs as a Mode of Payment NFTs are categorized by their values, as stated by the authorities NFTs without much value will be handled differently. This includes NFTs used for tickets or digital certificates, and In these situations, they are considered general NFTs. Jeon Yo-seop, Financial Innovation…

SEC strongly condemns Ripple’s (XRP) request for a lower settlement after experiencing problems with Terraform. The recent reply by the SEC to Ripple claims is a significant new development in the ongoing litigation, especially when the agency stated the settlement charges issue in the Terraform Labs case. This highlights the implications and challenges of regulatory oversight in the blockchain sector. SEC’s Firm Rebuttal to Ripple’s Allegations Sets Stage for Intensified Legal Showdown In its defense, Ripple claimed that its fine was smaller than in instances that involved no user losses at Terraform. The SEC is asking the court to approve…

Spot Bitcoin ETF is the pioneer to get its trading approval from the Australian Security Exchange, and it can start trading by June 20. The Australian Security Exchange (ASX), one of Australia’s largest exchanges, allows Spot Bitcoin Exchange Traded Funds to start trading in their ecosystem by June 20. According to a press release investment firm VanEck will issue the spot Bitcoin ETF, named the VanEck Bitcoin ETF (VBTC). This comes after the firm’s Bitcoin Trust (HODL) was recently approved to start trading spot Bitcoin ETFs in the United States on January 11. Arian Neiron, CEO at VenEck in the…

Bitcoin consolidation made traders believe that massive expansion is about to occur as the consolidation phase is still ongoing. “Generally, the longer a consolidation, the larger the expansion afterward,” Daan Crypto Trades told his audience on X. Bitcoin entered its largest consolidation phase of 92 days and is still ongoing, investors are taking it as the asset is setting up for a massive upward rally. “Out of all consolidations, the current one is the longest,” Mags posted on X on 9 June post “Once price breaks out of this consolidation range, we are going to witness a massive upside rally,”…