Category: Cryptocurrency News

The launch comes just weeks after Chinese authorities began accepting applications for public-facing AI systems.

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Data shows the Bitcoin Net Taker Volume has turned significantly positive recently, a sign that may be bullish for the asset. Bitcoin Net Taker Volume Has Risen To Positive Values Recently In a new post on X, the CryptoQuant Netherlands Community Manager, Maartunn, pointed out that buying activity appears to be occurring in the market. The relevant indicator here is the “Net Taker Volume,” which measures the difference between the Bitcoin taker buy and taker sell volumes. When this metric has a positive value, the taker’s buy volume is greater than the taker’s current sales volume. This suggests that the investors are willing to pay more than the spot price to buy the asset; thus, the majority of the market is bullish. On the other hand, negative values imply a bearish mentality is the dominant force in the BTC sector, as the holders are willing to sell coins at a lower price. Related Reading: Bitcoin Forming Death Cross: Here’s What Happened Last Time Now, here is a chart that shows the trend in the Bitcoin Net Taker Volume over the last few weeks: Looks like the value of the metric has been green in recent days | Source: @JA_Maartun on X As displayed in the above graph, the Bitcoin Net Taker Volume had a negative value when the dip toward the $25,000 level occurred a few days back. Still, before long, the indicator had registered a rise and entered positive territory. With this switch towards a bullish mentality, the BTC spot price had observed a sharp recovery below the $26,000 mark. The chart shows that the metric’s value has only grown more positive since the surge, suggesting that significant buying could be occurring right now. The price, however, has only consolidated sideways while this has happened. As for what this may mean, the analyst notes, “either limit sellers are taking control, or this thing will explode soon.” Signs of dropping values of the Net Taker Volume may be worth watching out for, as the Grayscale rally last month had initially seen a sharp surge in the indicator. Still, soon enough, the metric had started to slide back down, potentially resulting in the asset’s retrace. A few days back, another analyst shared a chart showing that the miners had made significant deposits to the spot exchanges. The metric had observed a spike a couple of days back | Source: @IT_Tech_PL on X Generally, miners transfer their coins to these platforms for selling purposes, so this spike could have been a sign that these chain validators had been gearing up for a dump. Related Reading: Bitcoin Sentiment Now Close To Extreme Fear: Why This Matters The spike had occurred after BTC’s drop to $25,000, implying that the miners had perhaps panicked at the drop, and, hence, had made the deposits as a reaction. It would appear that the market outweighed the selling pressure caused by this cohort in the end, as the net taker volume had turned positive, and the market had registered a successful rebound. BTC Price While Bitcoin has registered some uptrend in the past two days, the overall picture hasn’t changed for the cryptocurrency; its price remains in tight consolidation. BTC is floating around the $26,200 level right now | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Assets will be sold off weekly, with special handling for BTC, ETH and “insider-affiliated tokens.”

The account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated.

Ripple may be in the process of leaving the United States market for good as the prominent crypto firm has stated that it will be acquiring the majority of its employee candidates from countries outside the US.  Ripple Will Recruit A Workforce Overseas US-based cryptocurrency solutions provider, Ripple has enacted plans to conduct its hiring processes outside US borders. The cryptocurrency firm has stated that over 80% of its workforce will be recruited from countries outside the US that encourage crypto adoption and innovation. Related Reading: SEC Boss Gary Gensler Completes Senate Hearing: Here’s What Crypto Investors Should Know The decision to hire the majority of its workforce internationally can be seen as a strategic move to counteract the effects brought about by the regulatory changes enacted by the United States Securities and Exchange Commission (SEC). In light of the legal dispute between Ripple and the US SEC, the Chief Executive Officer of Ripple, Brad Garlinghouse expressed his enthusiasm about the crypto firm’s expansion in new regions. He stated that the firm will be focusing on hiring candidates in regions like Singapore, Hong Kong, and Dubai which have favorable outlooks and regulatory conditions on cryptocurrency.  “It’s super frustrating that you see markets like we have here in Singapore, where governments are partnering with the industry, providing clear rules, and you’re seeing growth. That’s why Ripple is hiring there,” Garlinghouse stated in an interview with Bloomberg.  Presently, the United States does not have a clear regulatory framework for cryptocurrency assets, and the US Congress has also been relatively slow in clarifying the status of cryptocurrencies. XRP prices maps recovery above $0.48 | Source: XRPUSD on Tradingview.com SEC Lawsuit Developments Ripple has been embroiled in a lawsuit with the US SEC since 2020. The SEC had previously sued Ripple for allegedly raising over $1 billion in unregistered securities offerings by selling XRP.  In July 2023, Ripple secured a victory after Judge Analisa Torres ruled in favor of Ripple and stated that XRP was not a security. The SEC responded by filing an interlocutory appeal, however, it is unsure if Judge Torres will grant the SEC’s request. Related Reading: Why The NASDAQ’s Latest Move Is Important For Fund Managers Filing Ethereum ETFs Over the years, Ripple has reportedly spent over $200 million defending itself against the SEC allegations. The cryptocurrency’s native token XRP was delisted from several exchanges in 2021 while its price declined significantly and lost the majority of the gains it had accumulated over the years. However, since Judge Torres’s ruling, leading exchanges such as Coinbase and Bitstamp have already moved to relist XRP since the court did not deem programmatic exchange sales to qualify as securities offerings. Featured image from CoinTurk News, chart from Tradingview.com

Google will allow NFT game advertisements that do not have any gambling or gambling services included within the games.