Key takeaways Cronos (CRO) is the native cryptocurrency token of the Crypto.com Chain, a decentralized, open-source blockchain developed by the Crypto.com payment, trading, and financial services company. CRO aims to power the next generation of decentralized crypto assets and applications and enable real-time, low-cost transactions globally. Cronos cross-bridge mainnet beta suggests a bright future for
On October 3, an article by Ernest Hoffman for Kitco News reported that Costco has expanded its precious metals offerings by adding solid platinum bars, following the success of its gold bars. According to Kitco, Costco is now offering its members the opportunity to purchase one-ounce platinum bars online for $1,090 each. These bars, manufactured
Pepe October could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Pepe October (PEPEOCTO), a new Solana memecoin that was launched today, is set to explode over 18,000% in price in the coming days. This is because PEPEOCTO is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Pepe October can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to
Toncoin’s adoption surged substantially, but will it help increase TON’s price?
The price of Bitcoin hasn’t quite started the month as widely expected, falling to around the $60,000 mark on Thursday, October 3rd. This bearish pressure is believed to have been triggered by the escalating tension in the Middle East after Iran fired missiles into Israel. However, the premier cryptocurrency seems to be making a turnaround to close the week, bouncing back above $62,000 on Friday. The latest on-chain observation shows that this latest recovery seen with the Bitcoin price is connected to dwindling selling pressure. 4,000 Long Positions Liquidated On October 1 — What Next? In a new Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Caueconomy discussed the impact of the recent liquidations of long positions in the Bitcoin futures market. According to the analyst, the ongoing liquidations have reduced the bearish pressure on the Bitcoin price. Related Reading: Meme Coin Trader Misses A $25 Million Payout After Selling HIPPO On Sui Network Early For context, futures allow investors to speculate on the price of a specific asset (Bitcoin, in this scenario). A long position is taken when a BTC trader buys a futures contract, predicting the coin’s price to rise at a later date. The trader incurs a loss when the asset’s price falls below the purchase price specified in the futures contract. According to data from CryptoQuant, more than 4,000 long positions were liquidated following the latest price decline on Tuesday, October 1, representing the second-largest liquidation event so far this year. Although liquidations reflect significant selling activity and investor losses, they can also signal pivotal shifts in market sentiment. The CryptoQuant analyst noted that periods of severe losses and market liquidations often lead to the formation of local price bottoms. “During significant price declines, the number of contracts purchased tends to drop sharply due to liquidations, which reduces selling pressure in the market,” Caueconomy said. Furthermore, the analyst mentioned that the price of Bitcoin might be gearing up for a short-term recovery due to the reduced selling pressure. However, Caueconomy highlighted the importance of increasing buying strength from the investors for the Bitcoin price to make a full comeback. Bitcoin Price At A Glance It does appear like the price of Bitcoin established a local bottom around the psychological $60,000 level before a pivotal rebound. As of this writing, the premier cryptocurrency trades around the $62,000 mark, reflecting an over 2.5% increase in the past day. Related Reading: FET At Risk Of Further Decline? RSI Signals Sustained Bearish Pressure However, this single-day performance has not been enough to wipe Bitcoin’s 5% price decline over the past week. With selling pressure dropping and the positive price history in October, though, it seems like only a matter of time before the flagship cryptocurrency returns to $65,000. Featured image created by Dall.E, chart from TradingView
It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since
Key takeaways: Polkadot (DOT), known for its innovative multichain protocol architecture, demonstrates significant growth and resilience in a fluctuating cryptocurrency market. This performance indicates its robust foundation and investors’ confidence in its technology. A key factor in Polkadot’s recent success is the completion of the Sinai Upgrade on its Acala Network, a critical development that
Cosmos developer Interchain Foundation has liquidated 4,000 ETH worth around $9.5 million.
Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year. A spokesperson for the crypto exchange tells Bloomberg the exchange will delist stablecoins in Europe that don’t comply with the EU’s Markets in Crypto-Assets Regulation (MiCA). “Given our commitment to compliance, we intend to restrict The post Coinbase To Stop Supporting Non-Compliant Stablecoins in EU by the End of 2024, Including Possibly USDT: Report appeared first on The Daily Hodl .
PayPal business customers can now buy, sell, and hold crypto directly from business accounts, with significant ramifications for crypto adoption