Crypto Market Overview: Red is dominantCrypto’s total market capitalization has plummeted over 3.2% in the past 24 hours, currently at $3.65 trillion. The drop shows a sharp continuation of the downtrend that began in late July. Almost all major altcoins glow red, with Bitcoin ($btc) and Ethereum ($eth) dragging the market low and some altcoins at deeper losses.Total crypto market capitalization chart analysisThe market capitalization was unable to retain its support of 3.72T, and now it has become a resistance. 21EMA is tilted and shows continuous bearishness. The RSI is deeply dependent on the territory sold at 27.18, suggesting a…
Author: ₿e Proud
Crypto-exchange trade funds on US exchanges recorded the strongest month in history in July, attracting a net inflow of $12.8 billion as investors’ enthusiasm surged along with rising token prices and optimism over regulation.Data reported by Eric Bulknath of Bloomberg Intelligence shows new monthly records for this sector. The only month that approached was November 2024. This was when the market came together in the election of Donald Trump, which was widely considered to be beneficial to cryptocurrency benefits.This time, bullishness may not be driven much by politics, but by the foundation. The crypto market tracked by the Coindesk 20…
Key Takeaways American Bitcoin Corporation, backed by the Trump family, is set for a Nasdaq listing through a merger with Gryphon Digital Mining. Shareholder vote on the merger is scheduled for August 27, following SEC regulatory clearance. Share this article American Bitcoin Corporation (ABC), a Bitcoin mining firm backed by the Trump family and Hut 8, is one step closer to going public. Nasdaq-listed Gryphon Digital Mining has scheduled a shareholder vote on its proposed stock merger with ABC for August 27, SEC records show.The SEC’s approval of the Form S-4 registration statement has provided essential regulatory clearance for the…
Applied AI research company Fundamental Research Labs (formerly known as Altera) announced today that it has raised $33 million in Series A funding led by Prosus with participation from Stripe co-founder and CEO Patrick Collison. The company has a curious structure, as it is working on multiple AI applications in different fields. When it raised its seed funding, Fundamental Research Labs was developing bots that could play Minecraft with you. Today, the company has a games team, a prosumer team building apps, a core research team, and a platform team. The startup’s founder, Dr. Robert Yang, a former faculty member…
Let’s start with the elephants in the room. Galaxy Digital, one of the largest crypto investment companies, reportedly moved $2 billion worth of Bitcoin to a centralized exchange. These were not idle whales’ movements. This is an active move in batches ranging from 100-50 million dollars, and is likely intended for a liquidation position.Some analysts suspect this is due to client redemption or strategic portfolio rotation for Ethereum. Regardless of why, this act of throwing lots of Bitcoin into the market is enough to rattle sentiment and trigger vending orders across the trading desk.Bitcoin price and the shadow of the…
Weeks after the revelation that Google paid Windsurf $2.4 billion to license its technology, while simultaneously hiring away its CEO and top talent, the deal’s implications are still rattling some founders and startup employees across Silicon Valley. Google’s payment to the startup was effectively split in two equal parts, according to two people familiar with the deal. Investors’ portion was $1.2 billion. The other half was in the form of compensation packages for approximately 40 Windsurf employees hired by the tech giant with a substantial portion of that $1.2 billion going to the startup’s co-founders, Varun Mohan and Douglas Chen,…
Released on Friday morning Soft US July employment numbers will be printed in combination with shocking June-June revised editions, as employment growth is the weakest since Covid Shutdowns in 2020.The data appears likely to end Federal Reserve Chair Jerome Powell’s on-the-scene approach and set the central bank on the path to reopening rate cuts at the next meeting in September.This brought 10-year U.S. Treasury bonds to 14 basis points 4.22%, pumping gold prices from 1.5% to $3,400 per ounce, sending them within their record highs.Two other interest-sensitive assets: Bitcoin and stocks? Not that much. With about 90 minutes in the…
Key Takeaways Saylor, executive chairman of Strategy, said he’s comfortable with the company owning up to 7% of the world’s total Bitcoin supply, but not all of it. He noted that 97% of the total Bitcoin supply is already held by others. Share this article Strategy could hold as much as 7% of the world’s Bitcoin, Michael Saylor told CNBC on Friday, but he pushed back on the idea of total dominance, saying the company has no intention, or ability, to own the entire supply. “I don’t think we’ll get all of it,” said Saylor when asked whether there’s such…
Google has backed STAN, an Indian social gaming platform that connects gamers with creators, communities, and publishers. Google’s investment comes as part of an $8.5 million equity funding round, which also saw investment from Japanese gaming giants Bandai Namco Entertainment, Square Enix, and Reazon Holdings. Aptos Labs and King River Capital, as well as existing backers General Catalyst and GFR Fund, also participated. Google joined the round via its AI Futures Fund, which launched in May to support startups building with its AI tools. STAN, headquartered in Singapore, is trying to position itself as a gaming community platform to rival…
Bitcoin has broken down from the two-week consolidation range that held the market between $115,724 and $122,077, reaching a new local low of nearly $114,000. The drop sees a change in momentum in the short term and places the bull on defense. The $117,000 level (the main support zone) serves as an immediate resistance that must be played back to indicate the possibility of a reversal. Related readings Breakdowns are coming at a critical time as emotions across the market are beginning to change. According to fresh data from Cryptoquant, futures sentiment has become bearish today, falling sharply before bounces…