As the trend has been since the United States Securities and Exchange Commission (SEC) greenlighted spot Bitcoin ETFs in January, BlackRock Inc’s IBIT has once sustained its lead in the ETF game. The Bitcoin ETF recently recorded massive flows and record corporate holders. BlackRock Shocks Spot Bitcoin ETF Market According to Bloomberg Senior ETF analyst The post BlackRock Bitcoin ETF Hits Massive Record, Dust Rivals appeared first on CoinGape .
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Breaking! Binance Ex-CEO Changpeng Zhao Imprisoned in California
The post Breaking! Binance Ex-CEO Changpeng Zhao Imprisoned in California appeared first on Coinpedia Fintech News As per CNBC Reports, Binance Ex-CEO Changpeng Zhao has been imprisoned in Lompoc, California. The News was confirmed by his defense team at Latham & Watkins. In April, the United States federal court in Seattle sentenced Changpeng Zhao to four months after he pleaded guilty to violating money laundering laws. The former CEO of Binance …
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Japanese Exchange DMM Bitcoin Falls Victim To $305 Million Hack
DMM Bitcoin, one of Japan’s largest cryptocurrency exchanges, recently suffered a major setback when it reported a loss of 48 billion yen ($305 million) in Bitcoin (BTC) due to a security breach. The incident, discovered on May 31, 2024, revealed the illegal leakage of BTC from a DMM Bitcoin wallet. As a result, several services
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Only 8 Altcoins Have Broken ATH Against Bitcoin Since FTX’s Collapse – Analyst Weighs In
During this bull cycle, the crypto market has been surfing off Bitcoin’s crest and enjoying the bullish momentum. However, investors hope for a seismic explosion to impulse Altcoins to new highs. Related Reading: Lil Pump-And-Dump: SEC Issues Warning As More Musicians Dump Their Memecoins As the crypto industry awaits, online reports revealed that, since FTX’s fall, only eight altcoins have hit a new all-time high (ATH) against Bitcoin. A crypto analyst shared his thoughts on the matter. Altcoins Underperforming Against Bitcoin This Cycle On Friday, Crypto analyst Miles Deutscher shared an interesting fact about the crypto market. Since November 2022, just eight altcoins have broken their previous ATH against the flagship cryptocurrency. To achieve this feat, tokens include Render (RNDR), Tellor (TRB), Injective (INJ), Astar (ASTR), SSV Network (SSV), SingularityNET (AGIX), True Wallet Token (TWT), and Binance Coin (BNB). It’s worth noting that RNDR was the latest one to accomplish this on March 11 and that the list only contains altcoins launched before FTX’s collapse. Deutscher explained that despite his initial shock, the news made sense to him and highlighted some takeaways based on the singularities of this run. First, the analyst considers that asset selection dynamics changed from previous cycles. Investors have been “punished” for being overexposed to certain sectors like L2 and gaming and “rewarded” for participating in others like Memecoins and AI. In contrast, in the last cycle, “you could basically bet on anything and beat $BTC.” According to the analyst, the market will likely continue experiencing specific sector outperformance despite the retail liquidity injection. He also explained that “crypto is an attention economy,” and money will flow where attention is. As a result, even the projects with the best technology won’t perform if there isn’t an exciting reason to buy. Deutscher’s second takeaway highlights the market’s current ATH dilution. As he points out, thousands of new products are being launched daily, and “low float/high FDV VC coins are launching in the billions.” These launches are seemingly outpacing the new liquidity, resulting in Altcoins struggling with performance. More Room To Catch Up The analyst’s third point explains that the bull run has been led by Bitcoin and spot BTC exchange-traded funds (ETH). Based on this, he considers it unsurprising that altcoins have “hardly pumped” so far. Various crypto analysts and experts share this opinion. Alex Krüger previously stated that the cycle has been “almost entirely” driven by the Bitcoin ETFs’ momentum. Deutscher sees Altcoins’ underperformance as a bullish signal since Bitcoin’s dominance has been instrumental in previous cycles. To him, this performance allows “more room to play catch up” and could drive altcoins to unseen highs. Related Reading: Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOL’s Future The analyst believes the market needs another catalyst for a true Altcoins season. Despite this, he highlights that many investors have had a record Q1 “even in mildly bullish conditions for most alts.” Ultimately, Deutscher considers there is still room to make big profits this cycle “even without the face-melting altseason we all crave.” Featured Image from Unsplash.com, Chart from TradingView.com
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Trump Meow (TRUMPMEO) Coin Will Surge 13,000% Ahead of KuCoin Listing, While Shiba Inu, Bonk and Dogecoin Lag
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Trump Meow (TRUMPMEO) presents a similar opportunity for a limited time. Trump Meow (TRUMPMEO), a newly launched Solana memecoin, is poised to explode over 13,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token. TRUMPMEO will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will
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Estonian Nationals Extradited to US for $575M Crypto Fraud
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating a $575 million Ponzi scheme involving the fraudulent cryptocurrency mining service
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