Author: driver789

Crypto analyst Crypto Patel has predicted that the Ethereum layer-2 Arbitrum could record a 7,400%, providing a bullish outlook for the altcoin. He also revealed key levels for investors to keep an eye out for as the position for this potential rally.  Arbitrum Eyes 7,400% Run With Price Down 96% From ATH In an X post, Crypto Patel predicted that Arbitrum could rally 7,400, with the price currently down 96% from its all-time high (ATH) of $2.40. He noted that ARB got trapped inside a brutal descending channel after its 2024 top, which led to the 96% crash from its…

Strategy added 34,164 bitcoin to its treasury last week, spending about $2.54 billion in one of the largest single purchases in its history, according to a Monday regulatory filing. The acquisition was made at an average price of $74,395 per bitcoin and brings the company’s total holdings to 815,061 BTC. Strategy has now spent roughly $61.56 billion accumulating bitcoin at an average cost basis of $75,527 per coin. This is Strategy’s third largest bitcoin purchase. With bitcoin trading near $75,000, the firm’s position sits close to its aggregate purchase price, leaving the holdings near break-even after recent market volatility. Strategy…

Crypto exchange Coinbase has rolled out crypto-backed USDC loans for users in the United Kingdom, allowing users to borrow USDC against Bitcoin, Ether and Coinbase Wrapped Staked Ether (cbETH). The loans are issued through Morpho, a lending protocol on Base.According to a Monday announcement, users can borrow up to $5 million in USDC (USDC) with Bitcoin (BTC)-backed loans, depending on how much collateral a user pledges. Coinbase said interest rates are variable and set by Morpho based on market conditions on Base, suggesting that borrowing costs can change frequently. The exchange said there is no fixed repayment schedule, but borrowers…

Cryptocurrency investment products logged another week of strong inflows on ceasefire optimism and a Bitcoin price breakout driving investor sentiment.Crypto exchange-traded products (ETPs) posted $1.4 billion in inflows last week, beating the prior week’s $1.1 billion and marking the second-largest weekly inflows since January, CoinShares reported on Monday.Following the three-week inflow streak totaling $2.7 billion, crypto ETPs now have net year-to-date inflows of around $3.8 billion, with assets under management (AUM) at $154.8 billion — the highest level since early February after dipping to as low as $128 billion in March.The uptick in crypto funds has likely been driven by…

Digital asset investment products recorded $1.4 billion in net inflows last week, marking the strongest weekly total since January, according to CoinShares.  Summary Crypto investment products recorded $1.4 billion in inflows, the strongest weekly total since January this year. Bitcoin led with $1.116 billion, while Ethereum posted $328 million in weekly inflows globally. Total assets under management reached $155 billion as US-based products drove most fund demand. Meanwhile, the latest reading also extended the streak of positive flows to three consecutive weeks. CoinShares said total assets under management rose to $155 billion during the period.  Weekly flows accounted for 0.91%…

Crypto heads into the new week with its Friday rally on shakier ground.The announced reopening of the Strait of Hormuz sent oil lower and pushed risk assets higher, including bitcoin and the wider crypto market. The opening reversed on Saturday, with Iran firing at ships attempting to pass and the U.S. seizing an Iranian-flagged tanker on Sunday.With the ceasefire set to expire by mid-week, traders will be watching whether the risk-on rotation can survive a renewed energy shock.The technical level to watch is clear. Luke Nolan, senior ETH research associate at CoinShares, told CoinDesk the follow-through hinges on bitcoin holding…

Ethereum has posted its strongest buy-side pressure on derivatives markets since the 2022 bear market, according to CryptoQuant analyst Darkfost, a shift that could matter after months of persistent sell-side dominance across this cycle. The change does not, on its own, confirm a full trend reversal. But it does mark a notable break from the pattern that has weighed on ETH during key upside attempts. Ethereum Flashes Early Recovery Signal In a post shared on X on April 18, Darkfost argued that Ethereum has spent most of the cycle fighting “unusually heavy selling pressure on derivatives markets.” He pointed to…

They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved…

Lydian has launched the Lydian Card, a co-branded Visa Platinum card issued by Rain that allows users to spend more than 300 supported digital assets, including stablecoins and major cryptocurrencies, across Visa’s global merchant network. The card is available in both physical and instant-issue virtual formats and can be used wherever Visa is accepted, giving cardholders access to more than 150 million merchants worldwide, according to a release seen by Bitcoin Magazine. Users will be able to fund, manage, and track transactions through an app or online dashboard, aiming to streamline the conversion of digital assets into everyday purchasing power.…

Strategy co-founder Michael Saylor has hinted at another large Bitcoin purchase, just a week after the company disclosed that it bought around $1 billion of Bitcoin in the second week of April. Strategy disclosed last Monday that it acquired 13,927 Bitcoin for $1 billion between April 6 and 12, at an average price of $71,902 per coin, posting “Think ₿igger” the day before the filing. However, Saylor posted “Think Even ₿igger” on X on Sunday along with a chart of Strategy’s purchase history, something he has historically done to hint at another purchase announcement. It comes just days after the Bitcoin treasury company…