New data from on-chain analytics firm Glassnode reveals that the amount of Bitcoin (BTC) held on exchanges has dropped significantly, reaching levels not seen since the 2017 all-time high. Currently, less than 12% of the total BTC supply resides in exchange wallets. This decrease in exchange balances follows a period of increased activity during the
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Bitcoin (BTC) made gradual progress towards the $31,000 mark on July 12, as the highly anticipated macroeconomic event of the week loomed. BTC’s price momentum was closely monitored by data from Cointelegraph Markets Pro and TradingView. Despite its steady rise, the largest cryptocurrency exhibited minimal volatility at the beginning of the week, with clearly defined
Renowned author Robert Kiyosaki, famous for his personal finance book “Rich Dad Poor Dad,” has expressed pessimism about the future of the US dollar following reports that BRICS nations are planning to introduce a gold-backed currency. According to Russia Today (RT), the official announcement of this agreement is expected to take place in August during
The Federal Tax Service (FTS) in Russia has stated that citizens can pay taxes on their cryptocurrency earnings, even though tokens have no legal status in the country. This latest development adds to the confusion surrounding the government’s stance on cryptocurrencies. While the Central Bank is in favor of a complete ban on all crypto-related
According to onchain data, the U.S. Department of Justice (DOJ) has moved 9,825 Bitcoin (BTC) – equivalent to $302 million – to new addresses. This Bitcoin was seized in connection to the shutdown of the darknet marketplace, Silk Road. The OKLink dashboard reveals that the BTC was sent in two transactions, with one still pending
The recent lawsuit filed by Cameron and Tyler Winklevoss, the billionaire twins who own the crypto exchange Gemini, against Barry Silbert’s cryptocurrency conglomerate Digital Currency Group (DCG) may have an ulterior motive, according to a recent article in Fortune. The article suggests that the lawsuit might not even make it to court and instead could
Standard Chartered, a prominent banking institution, has recently made a significant shift in its stance on Bitcoin (BTC) by predicting a substantial price recovery. Contrary to its previous forecast of BTC dropping to as low as $5,000, the bank now anticipates the cryptocurrency to reach $50,000 by 2023, followed by a further surge to $120,000
The legal challenge against Dogecoin, the popular cryptocurrency known for its meme-inspired origins, has caught the attention of Elon Musk’s legal team. In response to the allegations, Musk’s attorneys have filed a motion with a federal judge to reject a complaint seeking their removal from a class action lawsuit filed by Dogecoin investors. The investors
Grayscale, a renowned digital asset management company, has recently included Lido’s liquid staking protocol’s governance token in its DeFi fund. The firm announced that it has made adjustments to the fund’s portfolio by selling a specific amount of the existing Fund Components based on their respective weightings. The cash proceeds obtained from the sales were
The recent enactment of the European Union’s Markets in Crypto-Assets (MiCA) legislation on May 31 has both excited and concerned the crypto industry. While hailed as a groundbreaking regulatory framework for cryptocurrencies, there is growing apprehension regarding one specific aspect: the introduction of a daily transaction cap on private stablecoins. This limit, set at 200