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Price analysis 8/12: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

August 12, 2024 by

The S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.

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Hamster Kombat turns down venture capital offers

August 12, 2024 by

Hamster Kombat has attracted more than 300 million users to the game, setting records in Web3 game development.

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Bitdeer clocks 50% gross profit jump amid Bitcoin mining ramp up

August 12, 2024 by

The Bitcoin miner reported a net loss of $17.7 million in the second quarter of 2024 despite hashrate growth.

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DEF buys patent to stop lawsuits against MakerDAO and Compound

August 12, 2024 by

The patent for “oracle-like” data storage contained technology that was already in existence, DEF said.

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Judge finds Ripple Labs liable for $125M penalty in SEC case: Law Decoded

August 12, 2024 by

Ripple faces a $125 million civil penalty after a federal judge rules in favor of the SEC, rejecting the agency’s $2 billion claim.

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Super PAC focuses on unseating Sen. Warren, spends $850K on John Deaton

August 12, 2024 by

The Commonwealth Unity Fund has disseminated more than $1 million in Massachusetts to support Republican John Deaton’s bid for the US Senate.

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Possible Bitcoin price drop to $52K rises as BTC derivatives data shows traders losing hope

August 12, 2024 by

Worsening US macroeconomic data and some slight changes in the Bitcoin options market could be signs that BTC’s price weakness is set to intensify.

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SEC charges Novatech, company founders, promoters with fraud

August 12, 2024 by

Novatech claimed funds were stolen via a cyberattack in May 2023 and reassured customers the company was working to recover the assets.

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US Democrats are ‘increasingly gravitating towards crypto’ — Poll

August 12, 2024 by

A poll of 804 self-identified Democrats suggested a majority favored some of the core values surrounding digital assets, as well as the US leading the world on innovation.

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Bitcoin price dip may retest $55K before next leg up

August 12, 2024 by

Based on the upcoming Aug. 14 CPI reading, Bitcoin lost a key trend line when it fell under $63,000, but it could still be on track to recover.

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Bitcoin miner Argo repays $35M Galaxy bailout loan

August 12, 2024 by

The loan saved Argo from bankruptcy during the crypto winter of 2022.

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Tigran Gambaryan’s health worsens, surgery now required

August 12, 2024 by

Gambaryan has been detained in Nigeria since February 2024 and has suffered numerous chronic health conditions during that time.

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Euler announces 29 audit reports after $4M spent to shore up security

August 12, 2024 by

Some vulnerabilities in Euler v2 were found and resolved, and a subsequent $1.25 million bug bounty contest found no vulnerabilities of medium or greater severity.

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Lido community votes to bring stETH to BNB Chain

August 12, 2024 by

Lido Finance is the market leader in Ethereum staking, claiming 28.2% of net ETH deposits.

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Aleph Zero launches zkOS-powered Ethereum layer 2 mainnet

August 12, 2024 by

Aleph Zero’s mainnet launch integrates Arbitrum Orbit technology and zkOS tools to revolutionize blockchain privacy and speed.

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Ripple vs SEC: ‘Victory,’ or another chapter in the legal battle?

August 12, 2024 by

Some lawyers are doubtful on whether the latest court decision in the Ripple case should be referred to as a pure victory over the SEC.

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Whale continues $154M dumping spree with 5K ETH deposit to OKX

August 12, 2024 by

Lookonchain wrote that the whale bought 1 million tokens during the Ethereum initial coin offering.

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World's largest Bitcoin miner announces $250M raise to buy more Bitcoin

August 12, 2024 by

The new raise is part of Marathon’s strategy to go “full hodl” and make Bitcoin a strategic reserve asset for the company.

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Ether whale buys nearly $13M ETH, but ETH still needs to reclaim $2.7K for the next leg up

August 12, 2024 by

The last time this whale address bought the dip, was just before Ether rose from $2,100 to $3,100.

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Why Bitcoin is still poised to break $74K before end of year

August 12, 2024 by

Bitcoin’s correction appears to be losing steam, as indicated by price momentum divergence, the formation of a Doji candlestick and other bullish patterns.

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Tech giants losing momentum as AI progress disappoints investors

August 12, 2024 by

The current AI oversupply has prolonged the cost recovery on major AI investments, which could force large corporations to shift investment focus.

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Tech giants losing momentum as AI progress disappoints investors

August 12, 2024 by

The current AI oversupply has prolonged the cost recovery on major AI investments, which could force large corporations to shift investment focus.

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Bitcoin miners record lowest daily revenue of 2024

August 12, 2024 by

Bitcoin miners’ daily revenue hit a new yearly low of $2.5 million, but strategic overhauls keep some companies profitable amid industry challenges.

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More 'extreme fear' than FTX crash — 5 things to know in Bitcoin this week

August 12, 2024 by

Bitcoin market sentiment is as erratic as BTC price action itself as a week of macro volatility catalysts gets underway.

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Bitcoin price drops below $59K as institutions stop buying stablecoins

August 12, 2024 by

Bitcoin price saw its local bottom last time Tether minted $1.3 billion worth of stablecoins, which helped BTC recover over 21%.

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Why Web3 gaming needs a Steam-like platform for growth

August 12, 2024 by

OKX chief innovation officer Jason Lau believes that Web3 games need to cultivate communities by educating players on the benefits of Web3 technology.

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Canto chain targets fix amid 33-hour outage caused by consensus issue

August 12, 2024 by

The Canto blockchain has been down for over a day, and the team has scheduled an upgrade to fix the issue for Aug. 12.

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Crypto startup funding grows to $2.7B in Q2 despite fall in total deals

August 12, 2024 by

Crypto infrastructure projects led the way in attracting venture capital with major infra projects raising a combined $685 million in new capital in Q2.

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Ether ETF weekly flow hits positive for the first time since launch

August 12, 2024 by

The newly launched nine spot Ether ETFs had a positive overall net inflow of $105 million for the week beginning Aug. 5.

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Ethereum median gas price hits 5-year low

August 12, 2024 by

The median price to send an Ethereum transaction hit 1.9 gwei on the weekend, with low-priority transactions priced even lower.

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