Author: Kent Tenix

There has been another significant sell-off in the cryptocurrency market after a $400 million sell-off on Friday, June 11. On June 11th, the price of Bitcoin dropped 2.5% from its peak of $69,547 to a low of $66,018. Ether dropped to $3,500, also by 2.58%. Leveraged trades suffered significant losses due to this drop in crypto values, totaling close to $200 million. Crypto research firm CoinGlass reports that 83,912 traders lost all their money in the last day, totaling around $191 million. The largest loss took place in a single OKX trade, with a $5.21 million loss on an ETH…

According to the presidential applicants, he enjoys the crypto mining sector. He heard from a few supervisors about ways to increase employment and strengthen the electrical grid. Once again, Trump expressed his support for the Bitcoin mining sector. This occurred on Wednesday following his meeting with a few executives from Bitcoin mining firms in the United States. Donald Trump, the presidential contender, stated in a post on his website, Truth Social, on June 11 that he wants the remaining Bitcoin to be produced in the United States of America. He believes that this will provide the nation with greater energy…

Ethereum combines Pectra’s two different upgrades: the Prague and the Electra. Each Prague upgrade changes the network’s execution layer, and the Electra upgrade affects the unity layer. When these upgrades are combined, jointly like the Pectra upgrade. After March 2024, The Deneb and Cancun upgrade the Pectra upgrade will follow the instructions.  Technically, Dencun was a tough branch under transaction fees for layer-2 solutions and enhanced Ethereum’s flexibility. Pectra is the latest milestone on Ethereum’s development roadmap. In 2025, those will go live for the basic quarter. Additionally, Each timescale lets the feature improve the user experience (UX). Pectra has…

A recent revelation claims that a significant amount of XRP is being removed from Binance regularly. A major tracker, Whale Alert, released information for crypto enthusiasts. It claims that Binance transmitted a sizeable amount of XRP to an undefined person’s wallet. The XRP group started speculating about this transfer, commenting on its cause and destination. In the meantime, XRP has yet to recover from the significant decline it experienced on Friday. 30.4 Million XRP Shifting from Binance The same data source announced an enormous XRP transfer from a Binance wallet to an unidentified owner’s address an hour earlier. The unidentified…

The United States Bitcoin ETF absorbed as much Bitcoin as mined in May, in the first trading week of June. Last week, in the United States, Bitcoin ETFs bought Bitcoin, equivalent to two months of mining supply. According to HODL15Capital data, the 11 funds successfully bought 25,729 BTC, approximately worth $1.83 billion, in the first trading week of June from 3 to 7. This figure is eight times bigger than the 3,150 new bitcoins mined over the timeframe. 25,729 BTC is the total amount of BTC bought in the last week. It is nearly as much as the total acquired…

Bitcoin price movement appears to be very slow after the price decline, which occurred on June 7, making it just 6% away from a historical low. Over the past 15 days, the movement of the Bitcoin price has remained very low, followed by a sharp decline on June 7 and appearing to be a historical low in the 15-day timeframe. The period of Bitcoin trading between May 24 and June 7 was recorded as just 6% away from its all-time low for volatility, as said by Swan Bitcoin chief investment officer Rapha Zagury. “The horizontal blue line is the latest…

A question arose after a recent drop witnessed in the crypto market: is this the best time to buy in this dip? Most investors are seeking it as an opportunity to buy; however, some of the traders opened short positions, expecting the market to make more deep corrections. The market encountered a dip after the United States Bureau of Labor Statistics shared a report showing the employment rate rose unexpectedly in May and the inflation rate rose by 0.1%. A total of $1.4 billion in short trades opened on different exchanges after the crypto market witnessed a dip. To make…

Donald Trump stated at the event that he wanted to be the president of crypto and managed to raise $120 million. Based on a recent Reuters report, the ex-president of the United States, Donald Trump, is quite serious about supporting crypto for his 2024 presidential campaign. His current aim is to become “crypto president.”. Sources well-known about the matter reported on June 7 that at the fundraiser in San Francisco, Trump stated that he desires to become “crypto president.”. Tech billionaire Chamath Palihapitiya and his partner at Craft Ventures, David Sacks, presented at that event. Trump collects $12 million for…

The medical maker holds 828 bitcoins and claims it will “continue to pursue our strategy of purchasing Bitcoins with cash.” Semler Scientific, a Nasdaq-listed medical manufacturer, made headlines when it added Bitcoin to its treasury. Recently, they have bought a cryptocurrency worth $17 million and are planning to buy more, reaching up to $150 million. The news of buying recent bitcoins was disclosed on June 6 in a document to the United States Securities Regulator. Now they have a total of 828 Bitcoins after buying 581 Bitcoins on May 28, totaling over $58.5 million. “[It underscores] our view that Bitcoin…

A United States appeal court threw out the Security and Exchange Commission rule on June 5 and directed them to give more transparency into private funds. The court concluded that the SEC exceeded its authority while doing so. The case weakens the regulator’s claimed authority over the sector. Critics in the crypto industry have been saying similar things for the past few years. In the Fifth Circuit Court, all three judges who talked against the SEC on June 5 say they are crossing their legal limits. Six industry groups opposed the rule passed in August, arguing it would raise compliance…