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Mt. Gox sees $3.2B BTC in outflows in just two hours Massive Bitcoin Outflows from Mt. Gox Amid Ongoing Legal Proceedings Introduction In a startling development, Mt. Gox has witnessed an outflow of $3.2 billion worth of Bitcoin within just two hours. This significant movement of funds is part of the ongoing restitution process for creditors affected by the…

India Keeps Controversial Crypto Tax Rules Unchanged, Finance Minister’s Budget Speech India Maintains Firm Stance on Crypto Taxes in Latest Budget Speech Introduction In a recent budget speech, India’s Finance Minister Nirmala Sitharaman announced that the current crypto tax regime will remain unchanged. This decision continues to impose high tax rates on cryptocurrency transactions, which have been…

Terra Classic Poised for 280% Rally on Major Recovery Strength: Analyst Terra Classic (LUNC), the rebranded version of the collapsed Terra ecosystem, has been showing significant recovery strength. An analyst has recently predicted that LUNC could see a remarkable 280% rally if it continues its upward momentum. Current Market Sentiment The market sentiment around Terra Classic has been relatively positive, with increasing trading volumes…

Bitcoin Could Go Vertical With A $100,000 Candle: Here’s The Trigger Introduction In a recent analysis, an expert has suggested that Bitcoin could potentially surge with a $100,000 candle, marking a significant milestone in the cryptocurrency’s history. This bold claim is based on various market factors and historical data, making it a noteworthy prediction for crypto enthusiasts and investors…

Polygon’s Major Transition: MATIC to POL Token Polygon, a prominent blockchain platform, has announced its plans to migrate its native MATIC token to the newly introduced POL token on September 4. This transition marks a significant milestone for Polygon, aiming to enhance its ecosystem and streamline its operations. The new POL token will introduce several upgrades and features that will benefit…

Big for Ripple’s Price: This XRP Metric Hits a 3-Month High Key Points - XRP’s value soared by 40% in a week, briefly reaching $0.63 and becoming the sixth-largest cryptocurrency by market cap. - Key metrics, including transaction volume and open interest, surged, indicating strong market interest and potential for further price increases. XRP on the Run Ripple’s XRP has been…

Bitcoin Prices Soar Following Attempt on Trump’s Life Bitcoin Surges Amid Political Turmoil The recent assassination attempt on Donald Trump has led to a significant rise in Bitcoin prices, reflecting market speculations about his potential win in the upcoming presidential election. Traders view Trump as pro-crypto, fueling optimism for Bitcoin. According to AJ Bell,…

Say Goodbye to Bitcoin Under $60,000 Forever: Samson Mow Doubles Down on Forecast Bitcoin Close to Regaining $63,000 Over the weekend, the world’s flagship cryptocurrency, Bitcoin, has printed an impressive rise of almost 7.5%, soaring from the $58,580 area to the $62,900 zone, where BTC is changing hands at the time of writing this material. The fuel for this abrupt price…

Wise Review 2024: Comprehensive Analysis of Features, Fees, and Comparisons Editorial Note: We may earn a commission from partner links on CryptoUpdate. Commissions do not influence our editors’ opinions or evaluations. Our Verdict Wise offers a range of unique features without inflating exchange rates. However, its services come with higher transfer fees compared to some competitors. Additionally, it lacks options for cash delivery…

Wise Review 2024: Comprehensive Analysis of Features, Fees, and Comparisons Editorial Note: We may earn a commission from partner links on CryptoUpdate. Commissions do not influence our editors’ opinions or evaluations. Our Verdict Wise offers a range of unique features without inflating exchange rates. However, its services come with higher transfer fees compared to some competitors. Additionally, it lacks options for cash delivery…

Economist Predicts 90% Chance Bitcoin Hits New High By March 2025 A prominent economist has predicted that Bitcoin has a 90% chance of reaching a new all-time high by March 2025. This bold forecast comes amidst increasing optimism in the cryptocurrency market. The Prediction In a recent analysis, the economist highlighted several key factors driving this prediction. The ongoing institutional…

Compound Finance Site Potentially Breached, Investigated by ZachXBT he official website of Compound Finance, a leading decentralized finance (DeFi) protocol, has been flagged for a potential security breach. ZachXBT, a renowned on-chain investigator, raised concerns regarding the site’s integrity on July 9th, 2024. Potential Breach Details ZachXBT highlighted that Compound Finance’s website might have been compromised, urging users to avoid interacting…

Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies Bitcoin mining profitability saw an increase in June, according to Jefferies, as the market adapted to the recent halving event. The rise in profitability is a sign of the market’s resilience and adaptability, providing a positive outlook for miners and investors alike. Market Adjustments Post-Halving Following the halving event, the…

Will the DOT Rise? Polkadot Price Anticipation Heats Up with ETF Talk The Polkadot (DOT) price has recently been the subject of much speculation, especially with the buzz around the potential launch of a Polkadot Exchange-Traded Fund (ETF). This news has stirred excitement within the cryptocurrency community, with many investors wondering whether DOT will see a significant rise in its value. ETF Impact…

Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop to $52,000 A crypto analyst has disclosed reasons why the price of Bitcoin could witness more declines to $52,000 lows. According to the analyst, Bitcoin has broken key support levels, indicating a potential shift from a bullish to a bearish position. Analyst Projects Bitcoin Crash to $52,000…

Skrill and Neteller Extend VIP Fast Lane Promo Until 31st July! Introduction: Exciting news for all digital financial enthusiasts! Skrill and Neteller have extended their VIP Fast Lane Program until 31st July 2024. This extension offers users more time to enjoy exclusive benefits by upgrading to Silver and Gold VIP levels. Whether you are a crypto enthusiast or a frequent user…

Binance Forces Derivative Upgrades: Users Face Financial Losses Dear CryptoUpdate Readers, We’re deeply dissatisfied with Binance’s recent announcement regarding upcoming changes to their derivatives products. These changes, effective from 26 June 2024, seem to be another attempt to take advantage of their users under the guise of providing a better trading experience. Binance Futures Credits Trading Mode: An Excuse to…

Ancient Bitcoin Whale Stuns Major Exchange with $535 Million BTC Transfer In an unexpected turn of events, a long-dormant bitcoin wallet transferred a whopping 8,000 BTC worth about $535.64 million to the world’s largest exchange, Binance, earlier today. This significant transaction marks the first activity from this wallet in over five and a half years, reports Lookonchain. Whale Wallet Reactivates After Long…

Cardano (ADA) Headed for Reversal? Analyst Eyes $0.50 as Turning Point Cardano (ADA), the smart contracts platform known for its meticulous development process, finds itself at a critical juncture. Analysts are split on the cryptocurrency’s immediate future, with some predicting a bullish breakout and others bracing for a bearish correction. Analyst Buckles Up for a Reversal One analyst, known by the moniker…

Japan’s Metaplanet Stock Jumps 10% After Disclosing Additional BTC Purchase Tokyo-listed investment firm Metaplanet Inc. saw its shares rise 9.88% on Tuesday after announcing that it had purchased an additional 250 million yen ($1.58 million) worth of bitcoin. According to a statement disclosed on June 11, Metaplanet bought 23.351 BTC, bringing its total bitcoin holdings to over 141.07 BTC ($9.54 million).…