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A cryptocurrency whale made a complex leverage trading operation using Ethereum (ETH) as collateral to borrow $34 million in USDC. The borrowed amount landed in a Binance address, likely to invest in cryptocurrencies, which signals a bullish bias moving forward. According to a Lookonchain post on X, the whale withdrew 30,000 ETH from Bitifinex on June 30, worth $101.7 million. Right after, the address 0xEd0C deposited 20,000 ETH in two batches of 10,000 ETH to the Spark protocol. 0xEd0C6079229E2d407672a117c22b62064f4a4312 transaction history. Source: Etherscan Notably, this total deposit represents collateral with a nominal value of $67.8 million used to borrow 34 million DAI. DAI is a decentralized, over-collateralized stablecoin pegged at 1:1 to the U.S. dollar. Picks for you Dollar vs. Yen: ChatGPT-4o predicts forex giants' ...

Head of Thematic and Active ETFs at BlackRock Jay Jacobs says that Bitcoin is a hedge against geopolitical uncertainty and monetary risk. Speaking on the first edition of BlackRock’s Quick Download series, Jacobs said that the digital assets industry is blowing up, and investors are loving its IBIT ETF since launch. JUST IN: BlackRock says #Bitcoin is a hedge against geopolitical uncertainty and monetary risk. pic.twitter.com/hgzqprtp60 — Watcher.Guru (@WatcherGuru) June 27, 2024 “Bitcoin is a nascent asset. It’s only one-tenth of the size of the gold market,” Jacobs says in the video. “Therefore, it has high volatility and behaves a bit differently than stocks and bonds. A lot of investors look at it as a potential hedge against geopolitical and monetary risks. Other investors look at it as a way to play future adoption of blockchain technology. In either case, investors must take a measured approach to Bitcoin, considering both the risks and the po...

The cryptocurrency market has experienced significant volatility in recent months. However, Ethereum (ETH) has demonstrated notable strength against Bitcoin (BTC), reclaiming a key trend line and sparking discussions of a potential altseason . While both cryptocurrencies have faced selling pressure, Ethereum’s price has dropped below $3,400, and Bitcoin has declined by 5.8% over the past week. Despite this, Ethereum’s decline has been more modest at 3.5%, indicating a stronger relative performance against Bitcoin. Indicators of an altcoin market resurgence Several analysts are now predicting a potential resurgence in the altcoin market. This prediction is based on historical patterns and market indicators that suggest a turnaround may be on the horizon.  Picks for you This Ethereum cycle hints when Bitcoin will hit major top...

Crypto analyst Ali Martinez has warned the crypto community not to get too excited about the recent market recovery trigger by Spot Solana ETFs filing. Bitcoin (BTC) and the broader crypto market witnessed a relief bounce following recent bullish developments , but the analyst highlighted what could send the market into a downtrend again.   Why The Crypto Community Should Not Get “Too Excited” After Solana ETFs Rally Martinez mentioned in an X (formerly Twitter) post that the crypto community should not get too excited because $22 million will be liquidated from the crypto market if Bitcoin drops to $60,700. A significant amount in liquidations could lead to further decline in the crypto market, especially with other traders and investors looking to close their positions for fear of being liquidated.  Related Reading Why Is The Bitcoin Price Down Today? 23 hours ago ...

The cryptocurrency market has taken another step towards regulated and mass investment in cryptocurrencies with the first-ever application for a Solana ETF in the US by asset manager and Bitcoin ETF issuer VanEck.  Following the approval of spot Bitcoin ETFs in January and the anticipated launch of Ethereum ETFs in July, this development marks another milestone in expanding cryptocurrency investment options for retail and institutional investors. The news of VanEck’s Solana ETF filing with the US Securities and Exchange Commission (SEC) caused a surge in the native token SOL, with its price rising nearly 8% upon disclosure by Matthew Sigel, VanEck’s head of digital asset research.  VanEck’s Confidence In Its Solana ETF Filing In a social media post , Sigel highlighted VanEck’s reasons behind the filing, emp...

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Ripple, the company behind the XRP Ledger (XRP) development, will unlock 1 billion tokens on July 1, worth $470 million. This is part of Ripple’s monthly sell-offs, which could negatively impact the XRP price in the following weeks. Historically, Ripple has been unlocking 1 billion tokens through escrows, finalized on the first day of every month, since 2017. According to XRPScan , the company has been using ‘Ripple (24)‘ and ‘Ripple (25)‘to manage the escrows since May 2024. The wallets currently hold the 1 billion XRP monthly unlock escrows until January 2025. In particular, Ripple (24) will unlock 500 million XRP in two escrows of 100 million and 400 million tokens , while Ripple (25) will unlock a single escrow of 500 million tokens on July 1. Picks for you Buy signal for two strong cryptocurrencies this week ...

Oracle Networks: Ensuring Reliable External Data Feeds. In the rapidly evolving world of decentralized finance (DeFi), ensuring the reliability of external data feeds is crucial. As DeFi applications depend heavily on real-world data, the integrity and accuracy of this data directly impact their functionality and trustworthiness. This is where Oracle Networks come into play, acting as bridges between blockchain smart contracts and external data sources. What Are Oracle Networks? Oracle Networks are decentralized systems designed to fetch, verify, and relay external data to blockchain networks. They serve as middleware, ensuring that smart contracts receive accurate and tamper-proof data from outside the blockchain environment. This is essential for applications like decentralized exchanges (DEXs), prediction markets, and various financial instruments that require real-time data such as price feeds, weather conditions, or event outcomes. Why Reliability Matters Data Accuracy DeFi appli...

The Decentralized Autonomous Organization (DAO) behind the Dash (DASH) cryptocurrency has agreed upon the Evolution (Evo) upgrade. Talking exclusively to Finbold, Joel Valenzuela explained the “ chaotic mainnet” approach, calling it the “most significant release” for Dash. Dash masternodes have voted favorably on the approval of a proposal called “Evo Accelerated Launch Release Schedule.” On June 23, Samuel Westrich, Dash Core Group CTO, announced the approval with 68% votes in favor, excluding abstains. The community has called it the “Genesis phase” of the Evolution release. Therefore, the Dash Evolution platform will be released on July 19 in a “chaotic mainnet” with continued development activity. Joel Valenzuela, Business Development and Marketing for Dashpay, compared this release to THORChain’s (RUNE) “chaosnet” launch. ...

Anthony Scaramucci , the founder of SkyBridge Capital, has predicted that Bitcoin could reach new all-time highs (ATH) when his preferred presidential candidate wins. He also claimed that crypto “has already won” following recent developments in the industry.  Bitcoin Could Rise To As High As $250,000 When Joe Biden Wins Scaramucci mentioned during an interview on Unchained that he believes that the market will witness a new ATH for Bitcoin during a second Biden administration if the incumbent US President wins his reelection bid. As to how high Bitcoin can rise, Scaramucci predicts that the flagship crypto will rise to between $170,000 and $250,000 . Related Reading Little-Known But Important Dogecoin Indicator Goes Off, How High Can It Drive Price? 2 days ago The SkyBridge Founder also revealed that he would be voting for Joe Biden a...