The cryptocurrency market has witnessed over $210 million worth of liquidations across the board, with long positions accounting for 85% of this bloodbath amid the latest market turmoil. Data from crypto analytics resource Coinglass confirms that market participants have suffered a blow from the recent turbulence, which has triggered a 4% drop in the price of...
Yen, the third-most traded fiat currency in foreign exchange markets, has fallen flat against Bitcoin. The Japanese yen crashed to a 34-year low as authorities struggled to stem hyperinflation in the economy. According to Bloomberg, Japan’s sovereign fiat money suffers mainly due to a difference between local interest rates and U.S. Federal Reserve rates. While the Japanese...
Crypto influencer Rekt Fencer shared a Bitcoin trading algorithm built with OpenAI’s ChatGPT, but users are skeptical about the bot’s results. Trading algorithms are not exclusive to cryptocurrencies; they are tools in any financial market that automate processes. The idea revolves around establishing presets based on advanced mathematical models to execute trades aligned with pre-determined rules...
YIEDL, an AI-based crypto trading platform, is the latest target of a security breach, with hackers leveraging the opportunity to steal $157,000 worth of several crypto assets across multiple transactions. According to blockchain security platform Cyvers, the attackers exploited a flaw in the YIEDL contract’s “redeem function.” For context, this function facilitates the management of asset...
On April 23, net daily capital inflows into spot Bitcoin ETFs totaled $31.64 million. According to SoSo Value, despite the decrease in asset inflows from $62 million on April 22 to $31 million on April 23, a positive trend has continued for the third trading day. During this period, Bitcoin funds received $153.29 million from inflows. Source: SoSo...
Bitcoin’s fourth halving event has drawn significant attention to its comparison with gold regarding scarcity, as highlighted by Glassnode analysts. According to Glassnode, this event marked a historic moment where Bitcoin’s (BTC) issuance rate fell below that of gold for the first time, emphasizing a pivotal shift in the narrative surrounding the two assets. As reported, the halving...
The Philippines Securities and Exchange Commission (SEC) is looking to remove the Binance app from Google Play store and Apple’s app stores nationwide. On April 9, the commission sent separate letters to Google and Apple requesting the removal of the applications that allow users to access Binance’s trading platform. The recent move came after the Philippine National Telecommunications...
Riot’s shares surged by more than 20% fueled by optimistic evaluations from analysts who foresee substantial growth in the company’s financial performance. Anticipation surrounding Riot‘s financial performance, particularly in the wake of recent analyst predictions, has fueled significant investor interest. The bullish sentiment was evident as Riot Platform’s stock (RIOT) on Nasdaq surged by 23% to $11.24...
As offshore markets diversify, Binance’s Bitcoin market share has declined to 55%, while Bybit emerged as a frontrunner with a surge from 2% to 9.3% Binance‘s dominance in Bitcoin trading outside the U.S. market appears to be shrinking, as its share dropped from 81.3% to 55.3% over the past year as the exchange faced increased competition following the...
A “Buy Bitcoin” note, previously shown behind former Federal Reserve Chair Janet Yellen, is now drawing bids at $140,000 in an online auction. A legal pad bearing the phrase “Buy Bitcoin” is attracting bids nearing $140,000 in an online auction, gaining attention after being displayed behind former Federal Reserve Chair Janet Yellen during Congressional testimony nearly seven years...
