Approximately three weeks ago, bitcoin reached a record high of $73,500 before rapidly falling to the $61,000 region.Bulls have some hope that new records are on the horizon as it has since retraced to the current $67,600.However, the price correction appears to have more space to run, according to at least one sentiment indicator. According to CryptoQuant, the so-called futures funding rate—which is the amount paid to traders based on the discrepancy between perpetual contract markets and spot prices—is currently at an all-time high.“Funding rates represent traders’ sentiments in the perpetual swaps market and the amount is proportional to the number of contracts,” the group stated.Positive financing rates show that long-position traders are in control and are prepared to provide funds to short-position traders. According to CryptoQuant, positive funding rates indicate that long traders, or those who are betting on higher prices, are in control of the market and are prepared to provide money to short sellers, or those who are betting on lower prices.This high of financing rates was last seen in April 2021.After that, in just three months, Bitcoin fell from above $60,000 to under $30,000. Curiously, the U.S. Commodities Futures Trading Commission (CFTC) recently released data that indicates record short holdings in futures held by hedge funds and commodities trading advisers (CTAs), coinciding with the CryptoQuant study.

Broker Oppenheimer increased its earnings projections for Coinbase (COIN) on Wednesday and stated in a research study that the cryptocurrency exchange is well-positioned to profit from the long-term adoption of blockchain technology. “We estimate that COIN’s 1Q24 trading volume would be up 95% quarter-on-quarter and 107% year-on-year to $300B,” analysts Owen Lau and Guru Sidaarth wrote, noting that the “adoption of digital assets continued after the approval of spot bitcoin (BTC) exchange-traded funds (ETFs) in January.” “More importantly, liquidity in this space has continued to increase,

Google sued purported cryptocurrency scammers, alleging that they had submitted phoney investing apps to Google Play. According to the lawsuit, which was submitted on Thursday to the Southern District of New York, Yunfeng Sun and Hongnam Cheung perpetrated hundreds of wire fraud crimes, “causing harm to Google and at least approximately 100,000 Google users.” The

The seventh-largest stablecoin, FRAX, is backed by Frax Finance, a decentralised protocol that has partnered with asset issuance chain Noble to extend its reach beyond Ethereum into the Cosmos ecosystem, which consists of roughly 80 blockchains. Through Noble, the Frax token (FRAX), a stablecoin backed by cryptocurrencies and tethered to the US dollar, will be

The Monetary Authority of Singapore (MAS) has granted GSR, a cryptocurrency market maker and liquidity provider, a licence as a Major Payment Institution. Currently, GSR is in possession of Singapore’s Digital Payment Token Service licence, allowing businesses to purchase and trade “digital payment tokens,” or cryptocurrency as defined by the government, with the same licence

According to Cathie Wood, CEO of ARK Invest, national currency devaluations worldwide have contributed to bitcoin’s surge to a record high this year.With a surge in demand from spot bitcoin ETFs in the US, Bitcoin (BTC) reached an all-time high of $73,800 last month, up more than 130% over the previous 12 months.In an interview with CNBC, Wood promoted a different storyline, claiming that bitcoin serves as a kind of “insurance policy against rogue regimes and horrible fiscal and monetary policies.” “There is something else going on around the world.” Wood said. “There are currency devaluations taking place that people are not talking about. The Nigerian naira is down 50, 60% in the last nine months. Egypt just devalued by 40%. Argentina, continuing to devalue. I think is a flight to safety taking place, a

Comments on three proposals for ether spot exchange-traded funds (ETFs) are now being accepted by the U.S. Securities and Exchange Commission.A three-week comment period will apply to the ETF initiatives associated with Bitwise, Fidelity, and Grayscale Investments, per notices the agency released on Tuesday “to solicit comments on the proposed rule change from interested persons.” Industry analysts have grown less hopeful that the regulator will follow suit with the products tracking Ethereum’s (ETH) value, despite growing anticipation following the agency’s approval of bitcoin spot ETFs in January.After a significant setback in a legal battle with Grayscale, the commission was compelled to rescind its prior opposition to the bitcoin applications, and SEC representatives contended that its subsequent approval of bitcoin ETFs does not extend to other tokens. SEC Chair Gary Gensler had said in January that the bitcoin approval shouldn’t “signal anything about the commission’s views as to the status of other crypto assets under the federal securities laws.” Investments in that token surged rapidly with the introduction of a stable of (BTC) ETFs. If the agency ever comes to

Due to the continued detention of senior executive Tigran Gambaryan, who is headquartered in the United States, the troubled international cryptocurrency exchange Binance is experiencing more problems in Nigeria. According to a Wall Street Journal article published on April 3, Nigeria has filed more accusations against Binance despite the exchange’s efforts to communicate with regional

Chain-crossing bridge Early adopters of Wormhole’s airdrop will receive 617 million of the company’s recently launched governance token, With a market capitalization of $2.98 billion and a fully diluted value of $16.5 billion, the coin debuted at $1.66 on the Solana-based decentralised exchange (DEX) OpenBook, according to CoinGecko. Following the token’s release, OpenBook went through

Tokenization Wizard is a tool designed to create blockchain-based replicas of physical goods and safely handle stablecoins and various Web3 apps. It was released by GK8, the cryptocurrency custody company that Galaxy Digital purchased a little more than a year ago. Tokenization is becoming more and more popular, and many traditional banking organisations are adopting

Exchange of cryptographic currencies With the introduction of perpetual futures linked to the volatility indices of ether (ETH) and bitcoin (BTC), Bitfinex is enabling traders to wager on anticipated price volatility in the top cryptocurrencies. The ether implied volatility index (EVIV) and the bitcoin implied volatility index (BVIV) of the decentralised derivatives platform Volmex serve

Later on Tuesday morning, 30,175 bitcoins were reportedly transferred from a wallet purportedly owned by the US government to a Coinbase wallet. Roughly $2 billion worth of bitcoin (BTC) would be in circulation at the current price of about $65,000. The authorities, which had seized almost 50,000 bitcoins connected to the Silk Road website in

According to James Check, head on-chain analyst at Glassnode, the crypto bull market is set to enter its second and final phase, marked by exhilaration and dramatic price swings. “We are transitioning from the enthusiastic bull, which is below the all-time high, generally speaking, into the euphoric bull,” he said in an exclusive interview with

Following a $40 million presale, Taiwanese pop icon and blockchain sensation Machi Big Brother (aka Jeffrey Huang) developed the Solana memecoin Bobaoppa, which has taken tokenholders on a wild ride. The Bobaoppa memecoin saw a 74% decline to a low of 0.0003854 shortly after its introduction on March 30, according to GeckoTerminal statistics as of

Security firm CertiK said in a recent email announcement that in the last 24 hours, “suspicious” transactions worth over $3 million were sent out of the Bitcoin Lightning-based exchange FixedFloat. According to CertiK, funds were moved in ether (ETH) and tether (USDT) to wallets on the Ethereum and Tron networks, respectively. The behaviour was called

A secure communication technique that is gaining popularity in today’s digital environment is end-to-end encryption, or E2EE. Nonetheless, it’s critical to comprehend end-to-end encryption and its operation given the escalating concerns regarding security and privacy. How End-to-End Encryption Operates Through the use of an encryption algorithm and encryption key, the encryption process transforms plaintext—a text

The top cryptocurrency options exchange in the world, Deribit, announced on Tuesday that Deribit FZE, a division based in Dubai, has received a conditional virtual asset provider (VASP) licence from the relevant regulatory body. According to a press statement from Deribit, the licence permitting FZE to function as a virtual asset exchange for spot and

Custodial services are now included in the range of cryptocurrency-related operations that Singapore controls, according to a Tuesday announcement from the Monetary Authority of Singapore (MAS). The expansion of the scope encompasses the ability to send and receive money across borders even in cases where the recipient city-state does not accept it, as well as

Updated Bitcoin Diploma curriculum with new open-source methodology launched, according to the El Salvador-based Bitcoin education effort Mi Primer Bitcoin.As El Salvador became the first nation to use Bitcoin as legal cash in 2021, Mi Primer Bitcoin got its start as a neighborhood educational project. This latest version of the program was created in partnership with global Bitcoin enthusiasts and educators to offer a thorough curriculum that covers every facet of the cryptocurrency, from its background to its everyday uses and technical operations.The most significant change was making the program open-source, which entails that all resources, including the Student Workbook, are publicly accessible on GitHub.The release states that this is intended to promote cooperation and translation efforts across national boundaries. The founder and executive director of Mi Primer Bitcoin, John Dennehy, highlighted how Bitcoin education has the ability to change lives.He emphasized the ways in which long-term planning, creativity, and innovation are encouraged by financial literacy in the Bitcoin era. Dennehy described this curriculum upgrade as a “significant step” toward the project’s goal of “empowering the world through Bitcoin education” in a comment to Cointelegraph. “We always strive to improve the content with each new edition, but alongside that, we have also built out much better infrastructure to allow people to best use this in their local context — for example, translations had been ad hoc, now there is an organized infrastructure for communication and best

Based on market capitalization, Tether, the creator of USDT, the biggest stablecoin globally, added slightly less than 8,889 bitcoin (BTC) in the first quarter, as reported by on-chain trackers like Arkham Intelligence.Despite the lack of an official statement from Tether, a wallet that appears to be associated with the corporation indicates that 8,888.8888 bitcoin was sent to it on March 31.Naturally, Tether has never concealed its goal to purchase bitcoin with a percentage of its earnings. With 75,354 bitcoins in that wallet as of right now, valued at nearly $5.2 billion at the current price of $69,000, Tether has made about $3 billion in profit.

“Pending DAO approval, we will advance with the particulars of the investment and detail the precise arrangements and plans,” the developers stated. Under the condition that tokenholders within its native decentralised autonomous organisation (DAO) approve, decentralised finance services company Chainage, which has around $100 million in total locked value, is looking to fund $13 million

According to Bloomberg, Bitkub Capital Group CEO Jirayut Srupsrisopa, the owner of the Thai cryptocurrency exchange Bitkub Online, intends to sell shares to the general public next year and is now seeking financial advisors. Approximately 80% of the parent company’s profit is generated by Thailand’s largest cryptocurrency exchange, which is 9.2% owned by Asphere Innovations.

The largest cryptocurrency exchange in South Korea has seen a 75% decline in daily trading volume from its peak this year, suggesting that the frenzy surrounding trading alternative cryptocurrencies, or altcoins, has subsided and that digital assets other than the market leaders bitcoin (BTC) and ether (ETH) may find it difficult to hold onto their

The amount and frequency of investments in Web3 gaming have been rising rapidly in recent times. Amid a resurgence of interest in cryptocurrency efforts, some Web3 firms are looking to gain access to accelerator programmes. In exchange for early ownership, accelerator programmes provide coaching and support to founders. San Francisco-based Y Combinator is well-known, having