Cryptocurency News

Ethereum's Monthly Performance 📊 Ethereum's performance over recent months and years reveals a pattern of fluctuation that characterizes many digital assets. In the past week, Ethereum slightly declined by -0.28%, while the last three months saw an increase of +8.88%. The year-to-date growth stands impressively at +66.4%, with a six-month rise of +73.2% and a full year increase reaching +100.6%. Specific monthly performances show varied outcomes: January barely moved with a -0.09% change, but February saw a significant jump of +46.4%. March added a +9.7% gain, whereas April experienced a drop of -17.4%. May demonstrated a strong recovery with a +24.9% increase. These variations in Ethereum's returns highlight the volatile nature of cryptocurrency investments. They illustrate how external factors, technological advancements, and market sentiments influence Ethereum’s value. For investors, these figures underscore the need for careful analysis and the potential rewards of staying informed about market trends to navigate the highs and lows of crypto investing.

Ethereum's Monthly Performance 📊 Ethereum's performance over recent months and years reveals a pattern of fluctuation that characterizes many digital assets. In the past week, Ethereum slightly declined by -0.28%, while the last three months saw an increase of +8.88%. The year-to-date growth stands impressively at +66.4%, with a six-month rise of +73.2% and a full year increase reaching +100.6%. Specific monthly performances show varied outcomes: January barely moved with a -0.09% change, but February saw a significant jump of +46.4%. March added a +9.7% gain, whereas April experienced a drop of -17.4%. May demonstrated a strong recovery with a +24.9% increase. These variations in Ethereum's returns highlight the volatile nature of cryptocurrency investments. They illustrate how external factors, technological advancements, and market sentiments influence Ethereum’s value. For investors, these figures underscore the need for careful analysis and the potential rewards of staying informed about market trends to navigate the highs and lows of crypto investing.

Bitcoin Monthly Return Analysis 📊📈 Bitcoin's monthly return chart offers a comprehensive look at its performance over various timeframes. The chart shows Bitcoin's performance for the past 7 days (-1.91%), 3 months (+9.09%), year-to-date (+60.3%), 6 months (+71.5%), and 1 year (+148.4%). January saw a modest increase of +0.87%, followed by a significant surge of +44% in February. March maintained a positive trend with a +16.3% return, but April experienced a dip of -14.7%. May closed with an 11.1% gain, showcasing Bitcoin's volatility and potential for recovery. The detailed monthly returns table highlights the performance of Bitcoin across different months and years, providing a historical perspective. The variations in returns reflect Bitcoin's fluctuating market conditions, influenced by a myriad of factors including market sentiment, regulatory news, and macroeconomic trends. Investors and enthusiasts can use this data to understand the cyclical nature of Bitcoin's price movements and to strategize their investments accordingly. As always, staying informed and analyzing past performance can offer valuable insights into future trends.

🤡 Biden just lost the election! U.S President Joe Biden signed a veto of a House Joint Resolution that would have repealed the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121, he announced Friday afternoon. SAB 121 is a controversial piece of SEC accounting guidance that directs financial institutions holding crypto for customers to keep the assets on their own balance sheets. Critics of the guidance say it makes it too difficult for financial institutions to work with crypto companies.

A team of hackers have finally unlocked a $3 million Bitcoin wallet after a man forgot his password for 11 years. Electrical engineer Joe Grand, who goes by the handle ‘Kingpin’ online, was hired to hack into an encrypted file holding 43.6 BTC. The high worth of cryptocurrency was protected by a password created by a random password generator called Roboform - but the password had since been lost. Thankfully, however, security researchers have cracked a password to recover the massive amounts of money after it had been stuck in crypto wallet for 11 years.

CryptoQuant CEO Notes 2020 Echoed in Current Bitcoin Whale Accumulation 🐋📈 CryptoQuant CEO Ki Young Ju has drawn attention to current Bitcoin activities mirroring those of mid-2020, a precursor to a substantial price surge. In a recent post, Ki highlighted high on-chain activity and significant Bitcoin acquisitions, reminiscent of 2020’s behaviors that culminated in Bitcoin’s ascent to $64,000 by April 2021. Despite a period of price stability, “Realized Cap for New Whales” data shows $1 billion being added daily to new whale accounts, suggesting a strong accumulation phase. The market’s response to these patterns has been mixed. While some predict a looming breakout, others remain cautious, observing no immediate price spikes despite the inflow of funds and ETF investments. Historically, similar activity in 2020 led to a year-end price peak at $29,000, following prolonged on-chain actions linked to over-the-counter deals. Crypto analysts express optimism, viewing the sustained low volatility and substantial whale investments as the groundwork for a new all-time high. This scenario draws a parallel to past market conditions that set the stage for a bull market, aligning with the community’s hopeful outlook for Bitcoin’s future trajectory.

What's in Your Perfect Crypto Bag? 🚀

Bitcoin ETF Achieves Remarkable Success, Says Goldman Sachs 📈 Goldman Sachs is heralding the success of newly approved spot Bitcoin ETFs, with Mathew McDermott, the bank's global head of digital assets, labeling them an "astonishing success" at the Consensus 2024 conference. This marks a significant shift from the bank's previous skepticism. McDermott pointed to the SEC's nod earlier this year as a "big psychological turning point," spotlighting the overwhelming response as these ETFs rapidly amassed over $20 billion in assets, setting new records. The transition in Goldman's stance is evident as they now participate as an authorized entity in BlackRock's IBIT bitcoin ETF. McDermott underscored the unprecedented inflow from U.S. spot Bitcoin ETFs as a sign of burgeoning acceptance from Wall Street. This enthusiasm reflects a broader trend, with financial behemoths like BlackRock and Fidelity managing multibillion-dollar assets through these ETFs. The massive interest from both retail and institutional investors indicates a growing integration of Bitcoin into traditional finance. As Goldman Sachs expands its crypto offerings, including derivatives and research, the firm's engagement suggests that wider financial adoption of Bitcoin is not just likely but inevitable.

Dude has a point 🤷🏻‍♂️

BlackRock’s $IBIT Overtakes GBTC in Global Bitcoin ETF Market 🚀📈 BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken the Grayscale Bitcoin Trust to become the largest spot Bitcoin ETF globally, according to recent data. On May 28, IBIT saw an influx of $102.5 million, contrasting with a $105 million outflow from GBTC. Now, BlackRock holds a total of 288,670 Bitcoin, slightly more than Grayscale’s 287,450 Bitcoin. Industry experts note this shift marks a significant milestone in the cryptocurrency investment landscape. A Bloomberg report highlighted that as of May 29, BlackRock’s fund amassed $19.68 billion in Bitcoin, narrowly surpassing Grayscale’s $19.65 billion. The surge in BlackRock’s Bitcoin assets reflects a broader acceptance and growing trust in cryptocurrency investments among traditional investors. Recent SEC filings reveal that BlackRock’s own income and bond funds are investing in IBIT, signifying a strong institutional backing for the ETF. This growing support, coupled with BlackRock’s dominance in ETF inflows, underscores the increasing integration of Bitcoin into mainstream finance.