Quick Take While Bitcoin currently trades approximately 20% below its all-time high, the more compelling narrative unfolds within the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs) LTHs, holding Bitcoin for over 155 days, typically accumulate during bear markets and distribute during bulls. Their supply peaked at 14.9 million BTC in […] The post Bitcoin market absorbs 1 million BTC in 5 months appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

House Financial Services Committee Chairman Patrick McHenry has accused SEC Chair Gary Gensler of misleading Congress concerning the classification of Ethereum during his testimony in April 2023. The accusation comes amid escalating tensions over the regulatory approach to digital assets in recent months, with some industry participants filing lawsuits against the watchdog for overstepping its […] The post McHenry slams Gensler for misleading Congress about Ethereum’s classification appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Alliance Resource Partners (ARLP), a US-based coal mining company, said it has successfully mined 425 Bitcoin worth $30 million by harnessing excess energy from its facilities, according to its first-quarter earnings call. However, crypto environmentalist Daniel Batten argues that the firm’s pivot to BTC mining could harm the “environmental narrative” around the flagship digital asset. […] The post Expert fears resurgence of ‘environmental narrative’ as US coal miner generates $30 million by mining Bitcoin appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Bitcoin will close April down this evening following a drawdown of roughly 15% since the start of the month. The close of the monthly candle will mark the end of seven successive green candles and the end of a record-making streak. Bitcoin opened the month with a new all-time high for a monthly candle close […] The post Bitcoin retraces back to critical monthly all-time high support level from 2021 appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Quick Take MicroStrategy, the business intelligence firm, has further solidified its position as a Bitcoin corporate treasury, holding approximately 1% of the total Bitcoin supply. During the first quarter of 2024, MicroStrategy acquired an additional $1.65 billion worth of Bitcoin, bringing its total holdings to a staggering 214,400 BTC. While there was speculation that MicroStrategy […] The post 15% decline in MSTR share price amid non-adoption of new FASB Bitcoin standards appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Quick Take According to the latest data from Farside Investors, April 29 saw an outflow of $51.6 million from US Bitcoin ETFs, marking the fourth consecutive trading day of outflows. While this figure does not represent the lowest outflow during this period, it highlights the prevailing market sentiment. Grayscale’s GBTC product witnessed an outflow of […] The post US Bitcoin ETFs record fourth consecutive trading day of outflows appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Monero’s XMR token has fallen to its lowest point against Bitcoin in the last eight years amid regulatory pressure on privacy-focused blockchain networks. According to CoinMarketCap data, the XMR-BTC chart reached as low as 0.001954 BTC today, down 50% on the year-to-date metric. Moreover, the digital asset’s US dollar value has also been struggling, falling […] The post Monero hits eight-year low against Bitcoin as regulatory pressures mount appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Crypto firm Ripple is expanding its XRP Ledger (XRPL) enterprise solutions to Japan through a strategic collaboration with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, according to an April 30 statement. In this partnership, HashKey DX will work alongside Ripple and SBI Ripple Asia—a collaboration between SBI Holdings and Ripple—to develop […] The post Ripple teams up with HashKey DX on blockchain-based supply chain finance in Japan appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Siddharth Lalwani is on a mission to redefine the blockchain ecosystem with Skate, a universal application layer integrated with EigenLayer that enables apps to run seamlessly across thousands of chains with a single, unified state. As the Co-Founder and CEO of Range Protocol, the company behind Skate, Siddharth brings deep expertise in web3 infrastructure and […] The post Cross-chain universal app states could reduce EVM development by 90% – Skate CEO appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More

Hong Kong’s debut of Bitcoin and Ethereum exchange-traded funds (ETFs) commenced with modest trading volumes, tallying up to 87.58 million HKD, equivalent to $11.19 million, based on Hong Kong Stock Exchange data. This trading volume falls significantly short of the issuers’ initial expectations, which anticipated volumes surpassing $100 million. Moreover, the trading volume pales compared […] The post Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes appeared first on CryptoSlate. Email Facebook Pinterest Twitter Reddit LinkedIn WhatsAppRead More