Binance, a cryptocurrency exchange, has recently clarified that reports of large volumes of Bitcoin outflows were false. On May 8th, the exchange stated that reported “outflows” were actually just internal movements between hot and cold wallets due to address adjustments. Data from Coinglass showed that Binance experienced outflows of around 180,000 BTC in the last
Over the weekend, Bitcoin (BTC) experienced fresh volatility in trading as low-liquidity testing put its trading range to the test. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD lost over $1,000, or 3%, in just a matter of hours on May 6. While it saw more active conditions typical of weekend trading, it
Bitcoin’s price has decreased today, causing traders to become frustrated and market sentiment to suffer as a result of ongoing congestion. According to Cointelegraph Markets Pro and TradingView, Bitcoin is trading below $28,000 as of May 8th. The largest cryptocurrency is still experiencing a dip in sentiment due to transaction fees reaching their highest levels
Binance, the cryptocurrency exchange, has had an interim proprietary injunction set aside by the United Kingdom high court. The injunction was issued after a victim of cryptocurrency fraud claimed to have traced the stolen funds to accounts held with Binance. The claimant had sought the preservation of a certain amount of cryptocurrency, but Binance argued
Bitcoin (BTC) could be on the verge of significant gains, as a well-known trader has identified a rare bull signal on the Bollinger Bands indicator on the Bitcoin monthly chart. The Bollinger Bands indicator is a key volatility indicator that revolves around a 20-period simple moving average (SMA) functioning as a midline, with two standard
The Bitcoin network is currently experiencing a significant traffic jam with an overwhelming number of unconfirmed transactions. As of May 7, 2023, the latest statistics reveal that over 390,000 transfers are currently stuck in limbo, waiting for confirmation. The backlog is a result of the surge in minting and transferring of BRC20 tokens and Ordinal
Binance, the cryptocurrency exchange, experienced issues due to the volume of pending transactions, leading to a temporary pause of Bitcoin (BTC) withdrawals. The exchange explained on Twitter that large volumes of BTC withdrawal transactions were yet to be processed due to the recent surge in BTC gas fees. To resolve the issue, Binance replaced pending
The US banking industry has faced chaos in recent months after the second, third, and fourth-largest bank failures in the country’s history. Despite this, Fed chairman Jerome Powell has stated that the US banking system is “sound and resilient.” However, financial expert Greg Foss believes that Powell is a “horrible poker player” and that there
After a sluggish 2022, the cryptocurrency market has been on the rise since 2023, but the performance of different cryptocurrencies has been mixed. While Bitcoin has led the bullish rally, Dogecoin and other meme coins have also seen significant gains. Shiba Inu, a popular “Dogecoin killer,” has been struggling and is currently trading in a
Federal Reserve Chair Jerome Powell has issued a warning about the possible consequences of a U.S. debt default. The economic impact could be highly uncertain and adverse, he warned, adding that nobody should assume that the Fed could protect the economy from the short and long-term effects of failing to pay bills on time. Powell’s