Author: Miller Trump

Bitcoin Price Weakness Leads Market Below $59,000 Bitcoin’s price weakness has caused the cryptocurrency market to dip below $59,000 for the first time since mid-July. This drop in price comes as a result of ongoing selling pressure on Bitcoin, which has been described as “relentless” by market analysts. The Impact of Bitcoin Selling Pressure The relentless selling pressure on Bitcoin has had a significant impact on the cryptocurrency market as a whole. Investors and traders have been closely monitoring the situation, trying to make sense of the downward trend in prices. Many are speculating on the reasons behind this selling…

Bitcoin Price Weakness Pushes Market Below $59,000 The recent weakness in Bitcoin price has led to a significant market correction, pushing the price below $59,000 for the first time since mid-July. This downward trend is fueled by what analysts describe as “relentless” selling pressure on the world’s largest cryptocurrency. Market Correction Amid Selling Pressure Despite a strong rally earlier in the year that saw Bitcoin reaching all-time highs above $64,000, the current market sentiment has shifted, with investors choosing to sell off their holdings. This selling pressure has been relentless, with large sell-offs contributing to the downward trend in prices.…

Grayscale’s Ethereum Trust (ETHE) Outflows See Significant Decrease After experiencing outflows of $1.5 billion in its first week of trading, Grayscale’s Ethereum Trust (ETHE) saw a significant drop in outflows in its second week, decreasing by 80% according to data from Arkham Intelligence. Reasons for the Decrease in Grayscale Ethereum Outflows On July 29, a total of 108,800 ETH, valued at $367.6 million, was withdrawn from Coinbase. By August 2, this number had decreased to about 24,900 ETH, approximately $78.4 million. Coinbase analysts believe that the reduction in Ethereum outflows is a contrast to previous trends seen with Grayscale Bitcoin…

The Future of Bitcoin: Why the Outlook remains Bullish The outlook for Bitcoin remains bullish despite the continued sell-off caused by the growing risk of a U.S. recession. Investors and analysts alike are optimistic about the future of the leading cryptocurrency, citing several factors that support its long-term growth potential. The Resilience of Bitcoin in Market Volatility One of the key reasons behind the bullish outlook for Bitcoin is its proven resilience in the face of market volatility. Unlike traditional assets, Bitcoin has shown a tendency to recover quickly from price fluctuations and external shocks. This has bolstered investor confidence…

Bitcoin Outlook: Remaining Bullish Amid U.S. Recession Risks The outlook for Bitcoin remains bullish despite the continued sell-off caused by the growing risk of a U.S. recession. As investors navigate through uncertain times in the global economy, Bitcoin has shown resilience and maintained its appeal as a safe haven asset. Bitcoin’s Resilience Despite the recent market volatility driven by recession fears, Bitcoin has demonstrated its ability to withstand external pressures. The cryptocurrency’s decentralized nature and limited supply have made it an attractive option for investors seeking alternatives to traditional assets. Moreover, Bitcoin’s performance during previous economic downturns has been notable.…

MicroStrategy Plans to Invest $2 Billion in Bitcoin MicroStrategy, a Virginia-based company known for its strong belief in Bitcoin, has revealed plans to sell up to $2 billion in Class A shares for Bitcoin investments and other corporate purposes. The announcement was made in a recent regulatory filing with the U.S. Securities and Exchange Commission (SEC). Increasing Bitcoin Holdings In line with its commitment to Bitcoin, MicroStrategy aims to increase its holdings in the cryptocurrency, as indicated in the disclosed documents. The company acquired 12,222 Bitcoins in the second quarter of 2024, amounting to more than $850 million. This brought…

The aftermath of a violent brawl in a Queens bar On a Saturday night in Queens, a violent brawl at a local bar resulted in five men being stabbed and slashed, leaving a trail of bloodshed and chaos in its wake. The incident unfolded near 100th Street and 37th Avenue, at the border of Corona and Jackson Heights, around 11:55 p.m. The victims, all injured and uncooperative, were discovered by police in a state of distress. Multiple injuries and hospitalizations Three of the victims, including a 29-year-old man stabbed in the abdomen, a 25-year-old man stabbed in the torso, and…

The Shibainu (SHIB) derivatives market has seen reduced activity over the past few weeks. This was reflected in a decline in futures open interest, which fell to its lowest level since February 14. This drop was due to a drop in meme coin prices. At the time of writing, SHIB is trading at $0.000014, with the last price level reached on March 1. Impact of Reduced Activity on SHIB Derivatives Market According to Coinglass, SHIB’s futures open interest is $26 million. It has continued to fall since July 19, dropping by 51% in the past 16 days. Futures Open Interest…

The Future of Bitcoin Aggregation: A Look into Innovation and Optimization The future of Bitcoin aggregation holds exciting possibilities, driven by the continuous innovation and optimization of data compression and scalability. The Importance of Data Compression in Bitcoin Aggregation In the world of cryptocurrencies, data is king. The ability to compress and store large amounts of data efficiently is crucial for the success of Bitcoin aggregation platforms. Through advanced algorithms and cutting-edge technologies, developers are constantly working to improve data compression techniques, ensuring that the blockchain remains lightweight and fast. Furthermore, effective data compression not only enhances the performance of…

Bitcoin Layer 2 (L2) Solutions: Examining Long-Term Viability Bitcoin Layer 2 (L2) solutions have been gaining traction in the cryptocurrency community, promising scalability and speed improvements for the Bitcoin blockchain. However, a recent report highlights potential challenges that could impact the long-term viability of these solutions. The Challenge of High Data Costs in Bitcoin Rollups One of the key concerns raised in the report is the issue of high data costs that could hinder the sustainability of Bitcoin Rollup solutions. Galaxy Research pointed out that Bitcoin Rollup, which relies on the Bitcoin network for data, may face escalating data publishing…

Immigrant Crime in New York City: The Need for Data and Facts Immigrant crime in New York City has been a topic of concern and debate, with recent incidents raising questions about the impact of immigration on crime rates. In light of these events, it is essential for City Hall to provide hard data to inform public perception and policy decisions. The Recent Spike in Immigration-Related Crimes The recent murder of Venezuelan immigrant Sandra Serrano outside a migrant shelter on Randall’s Island has brought attention to the issue of immigration-related crimes. This tragic incident, along with several other murders involving…

The dramatic drop in the value of Solana-based meme coin Bonk (BONK) Over the past week, the value of Solana-based meme coin Bonk (BONK) has experienced a significant decline. As of the latest update, BONK is trading at $0.000021, marking a 24% decrease in the past seven days. This drop has brought BONK’s price to crucial support levels that have been forming a descending triangle pattern since May, indicating the possibility of further declines. The uncertainty of BONK’s uptrend support When examining BONK’s 1-day chart, it is evident that the altcoin has been following a descending channel since May 29,…

The Risks of Receiving Millions in Error from Crypto.com Australian prosecutors have recently made headlines by warning Crypto.com users who have received millions of dollars due to internal errors. The focus is on the potential legal consequences of keeping and using funds that were mistakenly deposited into their accounts. The possibility of jail time remains high for individuals who knowingly take advantage of such errors, as they may be considered complicit in financial crimes. The Legal Implications When it comes to financial matters, ignorance is not an excuse. In the case of receiving an unexpected windfall from Crypto.com, users must…

BlackRock’s USD Institutional Digital Liquidity (BUIDL) fund paid out more than $2 million in July, its highest monthly dividend ever. According to Etherscan data, BlackRock paid $2.12 million to investors in July, an increase of 16% from June. The fund has paid out more than $7 million in dividends, with returns rising every month since its inception. BlackRock’s BUIDL Fund Achieves Record Dividend Payout BUIDL, BlackRock’s first tokenized fund launched on the Ethereum blockchain in March, has seen remarkable success. With a market capitalization of approximately $522 million, BUIDL has quickly surpassed other existing funds such as Franklin Templeton’s Franklin…

Cryptocurrency Market Activity Declines, Whales Show Increased Interest The cryptocurrency market has seen a decline in activity over the past week, with global market capitalization dropping by 4% in the last 24 hours. Despite this overall trend, some assets are experiencing a surge in interest from crypto whales, signaling anticipation of a upcoming rally. Toncoin (TON) Sees Uptick in Crypto Whales Count Toncoin (TON), the cryptocurrency associated with the popular messaging app Telegram, has recently experienced a 17% drop in price over the past month. However, on-chain data reveals that whales view this as a buying opportunity, as the coin’s…

Cryptocurrency Traders Optimistic About Ethereum’s Future Cryptocurrency traders around the world are closely watching the developments in the Ethereum network, as they believe that the next steps for Ethereum could have a significant impact not only on Ethereum itself, but also on Bitcoin and the entire crypto market. As the second largest cryptocurrency by market capitalization, Ethereum plays a crucial role in the crypto ecosystem, and its future trajectory is closely monitored by traders, investors, and enthusiasts alike. The Importance of Ethereum for the Crypto Market Ethereum’s smart contract capabilities and decentralized applications have made it a popular choice for…

Bitcoin Strategic Reserve Act Introductions by Senator Lummis Senator Lummis has recently introduced the Bitcoin Strategic Reserve Act in the U.S. Senate, signaling a growing acceptance and recognition of Bitcoin as a strategic asset. This act proposes the creation of a strategic cryptocurrency reserve fund, similar to the country’s gold reserves, to ensure the stability and security of the digital asset market. Furthermore, the introduction of this act highlights the increasing importance of Bitcoin and other cryptocurrencies in the global financial landscape. As institutional adoption continues to rise and governments explore ways to regulate and integrate digital assets into their…

Bitcoin Strategic Reserve Act Introduced by Senator Lummis Senator Cynthia Lummis recently introduced the Bitcoin Strategic Reserve Act, a bill that proposes the creation of a national strategic Bitcoin reserve. The bill aims to ensure that the United States has a stake in the growing digital currency market and is prepared for any future economic challenges. This development has sparked discussions within the cryptocurrency community about the potential impact of such a reserve on Bitcoin’s value and the broader financial landscape. Transition words: Furthermore, In addition, Moreover Bitfinex Hack Resurfaces at Bitcoin 2024 The infamous Bitfinex hack of 2016 made…

Bitcoin Strategic Reserve Act and Bitfinex Hack in Bitcoin 2024 Senator Lummis recently introduced the Bitcoin Strategic Reserve Act, a legislative proposal aimed at establishing a strategic national reserve of Bitcoin. This initiative marks a significant step towards recognizing Bitcoin as a valuable asset with a role to play in national economic and security strategies. In a related development, the infamous Bitfinex hack made an appearance at the Bitcoin 2024 conference, shedding light on the importance of security measures in the crypto space. The Implications of the Bitcoin Strategic Reserve Act The introduction of the Bitcoin Strategic Reserve Act has…

Senator Lummis Introduces Bitcoin Strategic Reserve Act: A Game-Changer for Crypto Senator Cynthia Lummis recently introduced the Bitcoin Strategic Reserve Act, a bill that could have a significant impact on the cryptocurrency market. This legislation proposes that the U.S. government create a strategic reserve of Bitcoin, similar to how it holds gold reserves. The idea behind this bill is to recognize Bitcoin as a strategic asset and ensure that the U.S. remains competitive in the digital economy. The Implications of the Bitcoin Strategic Reserve Act With the introduction of the Bitcoin Strategic Reserve Act, the U.S. government is taking a…

Senator Lummis Introduces Bitcoin Strategic Reserve Act Senator Cynthia Lummis recently introduced the Bitcoin Strategic Reserve Act, a bill that aims to create a strategic national stockpile of Bitcoin. This move signifies a growing acceptance and recognition of Bitcoin as a valuable asset by policymakers in the United States. The proposed reserve would hold Bitcoin as a strategic asset to be used in times of economic crisis or national security threats, solidifying Bitcoin’s status as a legitimate financial instrument. Moreover, Senator Lummis’ support for Bitcoin is a clear indication of the shifting attitudes towards cryptocurrency in the political sphere. As…

Senator Lummis Introduces Bitcoin Strategic Reserve Act Senator Cynthia Lummis recently introduced the Bitcoin Strategic Reserve Act, a bill that aims to create a strategic national reserve of Bitcoin. This move is seen as a significant step towards recognizing Bitcoin as a legitimate asset class and could potentially pave the way for wider adoption of cryptocurrency in the United States. One of the key benefits of establishing a Bitcoin strategic reserve is the potential for increased financial security and independence. By holding a reserve of Bitcoin, the U.S. government could protect itself against economic uncertainty and global financial instability. This…

Senator Lummis Introduces Bitcoin Strategic Reserve Act On the forefront of cryptocurrency news, Senator Lummis has introduced the Bitcoin Strategic Reserve Act, which aims to establish a strategic reserve of Bitcoin held by the U.S. government. This bold move reflects a growing acceptance and recognition of Bitcoin as a legitimate asset with potential long-term value. In her announcement, Senator Lummis highlighted the importance of Bitcoin as a tool for economic empowerment and financial sovereignty. By creating a strategic reserve of Bitcoin, the U.S. government could potentially protect its citizens from economic instability and currency devaluation. Bitfinex Hack Appears at Bitcoin…

Former U.S. President and Republican candidate Trump continues to advocate Bitcoin during his re-election campaign in November this year. Trump said in a recent statement that Bitcoin could help solve the huge U.S. national debt. Trump’s Bold Proposal: Using Bitcoin to Repay U.S. National Debt In an interview with Fox News’ Maria Bartiromo, Trump suggested that Bitcoin has the potential to eliminate the United States’ $35 trillion in foreign debt. He believes that if effectively adopted and supported, these digital assets can benefit the country. “Who knows? Maybe we can pay off the $35 trillion in foreign debt and give…

The two companies face antitrust investigations Google and Facebook are currently under investigation by U.S. and European Union antitrust regulators regarding their partnership. The two tech giants have been accused of engaging in anti-competitive practices that could harm competition and consumer choice in the digital advertising market. Antitrust concerns in the U.S. In the United States, the Department of Justice and several state attorneys general have launched investigations into Google and Facebook’s advertising agreement. The regulators are concerned that the partnership may violate antitrust laws by limiting competition and giving the two companies an unfair advantage in the online ad…

Your Ultimate Guide to Latin American Cryptocurrency News Stay up-to-date with the latest cryptocurrency news and trends from Latin America with BeInCrypto’s comprehensive roundup. Our team of journalists in Brazil, Mexico, Argentina, and beyond brings you insights into the region’s dynamic cryptocurrency industry. Latin American Investors Show Growing Interest in Cryptocurrencies A recent survey conducted by Binance revealed that the majority of Latin American investors are looking to expand their cryptocurrency portfolios in the coming year. With over 10,000 participants from countries like Argentina, Brazil, Colombia, and Mexico, the survey highlighted the increasing bullish sentiment in the region. According to…

The Ethereum Spot ETF: Setting the Gold Standard for ETH Investing The Ethereum Spot ETF, which was introduced with much anticipation, was expected to revolutionize ETH investing by providing a gold standard for investors. However, despite its promising prospects, there is one major drawback that is holding back its full potential – the inability to offer staking opportunities to investors. Misconceptions about Ethereum Spot ETF Many investors were initially drawn to the Ethereum Spot ETF expecting to have the same staking capabilities as holding ETH directly. Unfortunately, this is not the case. The ETF structure does not allow for staking,…

Manhunt for Bronx Stabbing Suspect Intensifies Police in the Bronx have intensified their search for the primary suspect in the stabbing death of 34-year-old Christian Torres. The man, whose image was released by the NYPD, is believed to be responsible for fatally wounding Torres in a violent attack at his apartment complex on July 31. Family and Friends Mourn the Loss of Christian Torres Christian Torres, described as a hard-working man and the sole caregiver for his ailing mother, has left behind a devastated family and fiancée. His friend, Tony Alvarez, spoke fondly of Torres, highlighting his dedication to his…

Declining Trading Volumes on XRPL in Q2 2024 In the second quarter of 2024, the Ripple-based XRP Ledger (XRPL) witnessed a significant drop in trading volumes, aligning with a broader trend affecting major blockchain protocols. XRPL recorded 86.39 million transactions during this period, marking a quarterly decrease of 65.6%. Despite the decline in transactions, the network’s average transaction fee saw a substantial increase of 168% to 0.00394 XRP. Ripple’s Positive Outlook on XRPL Amid Decreasing Volumes Despite the overall decrease in trading volumes in the second quarter of 2024, Ripple remains bullish on XRPL. While XRP’s trading volume fell by…

German Quantum Breakthrough Unlocks New Possibilities in Cryptography The recent quantum breakthrough in Germany has shed light on the increasing importance of particle physicists in the field of cryptography. This groundbreaking development has the potential to revolutionize the way we approach data security and encryption, paving the way for more secure communication systems and transactions. The Implications of Quantum Advancements in Cryptography Quantum computing harnesses the principles of quantum mechanics to perform complex calculations at an unprecedented speed. This technological advancement poses a significant threat to traditional cryptographic methods, which rely on the difficulty of solving mathematical problems. With the…