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Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of manipulating the price of dogecoin (DOGE) for personal gain. A U.S. District Judge in Manhattan ruled that the plaintiffs failed to provide convincing evidence, despite multiple revisions of their claims. The lawsuit alleged that Musk’s social media influence caused a 36,000% … Read more
In a sign of growing risk aversion, $ENA stakers have started to liquidate their holdings. A prominent whale, known by the address 0x8fA…CA160, recently withdrew all 5.64 million $ENA tokens staked in Ethena and Pendle, worth approximately $1.44 million, and transferred them to Binance yesterday. This whale had accumulated these tokens at an average price … Read more
A recent report by Bitso, one of the largest crypto exchanges in Latin America, found that Argentines were especially inclined to use and purchase stablecoins over other cryptocurrencies. Six out of every ten cryptocurrency purchases in Argentina involved stablecoins during Q1 and Q2, as these are used as a hedge against inflation and devaluation. Bitso: … Read more
After lingering around the $59,000 mark, bitcoin’s value has faced downward pressure, dipping to an intraday low of $57,775 on Friday. Over the past 24 hours, bitcoin (BTC) has slipped by 4.6%, while ether (ETH) saw a 5.4% decline. Friday Crypto Slide: Bitcoin Falls, Ether Sinks, and Liquidations Jump The crypto market is in the … Read more
Based on the latest data, Ethena’s yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena’s USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug. 30, the stablecoin economy expanded from … Read more
$CAH, currently 80% away from its recent all-time high of $53.77, has demonstrated remarkable resilience over the past month, bouncing back 100% from its recent lows. But what’s fueling this momentum, and is a significant upward move on the horizon? Let’s dive into the key on-chain factors driving $CAH’s potential breakout: Whale Activity: A substantial … Read more
In a surprising turn of events, Ripple has emerged as the fifth largest donor in the US election cycle, contributing a staggering $49.9 million. This move solidifies Ripple’s position as a major player in the crypto space, leading the pack in terms of political influence. 🚨BOOM! #Ripple has emerged as the fifth largest donor in … Read more
A minor 2.2% price drop in Bitcoin over the past 24 hours has triggered a significant 7.5% decline in total open interest on exchanges. In contrast, Ethereum and Solana’s open interest has remained relatively stable. This disparity suggests a few key takeaways: 📉 While Bitcoin has seen a mild -2.2% price drop in the past … Read more
Justin Bons, founder and CIO of Cybercapital, a Europe-based cryptocurrency fund, has warned about the effect that the rise of Ethereum L2s is having on the main chain. Bons stated that the activity that Ethereum should be experiencing is happening on L2s, and that is bringing fragmentation and more inflation to the ETH ecosystem. Cybercapital … Read more
Financial comparison platform Finder has updated its XRP price prediction for 2024 based on input from a panel of fintech experts. The panel’s average prediction for XRP is $0.66 this year, with the forecast suggesting it could rise to $1.05 by the end of 2025 and reach $2.49 by 2030, driven by its role in … Read more
