Low exchange balances indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin. The Bitcoin exchange reserve, the total amount of Bitcoin available on exchanges, has dropped to a 3-year low, according to data from June 19, 2024. Analytics from CryptoQuant revealed that there are currently 2,825,703 Bitcoin left…
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Circle CEO Jeremy Allaire revealed four of the biggest reasons he’s “more optimistic” about crypto and stablecoins than ever before. Stablecoins could account for 10% of “global economic money” over the next ten years or more, according to stablecoin issuer Circle CEO Jeremy Allaire. It’s arguably a bold claim, but Allaire pointed to several factors…
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CryptoQuant CEO Ki Young Ju noted that while Ethereum’s MVRV is rising quickly, onchain activity levels suggest it may not be overvalued. A key metric used to determine whether Ether is overvalued or not has been “heating up” relative to Bitcoin — though one analyst argues the asset may not be in overbought territory just…
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MRGN Research’s Ben Coverston says the Solana-based MEV bot has made an active effort to date to keep a low profile. The infamous maximal extractible value (MEV) sandwich bot known as “arsc” has pocketed around $30 million from Solana users in the last two months through MEV attacks. An MEV sandwich attack occurs when an…
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ZK Nation said its Sybil filtering approach was to ensure as many users as possible would get an allocation, but that would inevitably let through some Sybils. Ethereum zero-knowledge layer-2 scaling platform zkSync has continued to defend criticism over the criteria for its zkSync (ZK) token airdrop, slated to launch on June 17. In a frequently asked…
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Trump hasn’t confirmed or denied ties to the DJT token but a blockchain analytics firm and industry leaders raised doubt that it was launched by Trump’s team. MAGA (TRUMP) and other Donald Trump-related memecoins fell more than 30% amid rumors that Donald Trump’s team launched a “official” token on Solana. “Per conversations, Trump is launching…
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The Iggy Azalea-launched “MOTHER” is the only token launched by celebrities last week still hitting new all-time highs. It has now amassed a market cap of $130 million. The majority of celebrity-backed tokens that launched last week, including JENNER, DAVIDO, and RICH, have tanked at least 66% since peaking — though one token bucked that…
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Bitcoin price above $72,000 would liquidate $800 million worth of leveraged shorts, making it a significant resistance level for BTC. If the price of Bitcoin reaches $72,000, it would act as a “fuse,” triggering the breakthrough of the $75,000 psychological barrier. Bitcoin hitting $72,000 would spark a wave of mass liquidations, paving the way to new…
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