Author: Benjamin Lee
Cryptocurrency analyst Kevin Svenson is highlighting a potential bullish catalyst for altcoins. In a new video, Svenson tells his 82,800 YouTube subscribers that an expansion in the global money supply could trigger a rally in altcoins. According to Svenson, previous altcoin rallies have erupted after an increase in the global money supply. “Every major bull run for these altcoins… …they really did not start running until global liquidity exploded, you know, went up tremendously… And what we’ve seen is that until recently global liquidity we were testing the 2022 highs as support just recently… There has been no growth for…
One artificial intelligence (AI)-focused altcoin is surging after going live on South Korea’s largest crypto exchange, Upbit. The information finance (InfoFi) protocol Kaito (KAITO), which is built on the Base network, soared by more than 45% amid the Upbit listing news. Kaito was trading at a low of $1.49, before surging to a high of $2.17. KAITO has since stabilized and is trading for $1.76 at time of writing. With a market cap of $426.8 million, the altcoin is the 168th largest crypto project. Last month, top US crypto exchange Coinbase added support for Kaito with an experimental label. The…
An Ethereum (ETH) layer-2 scaling solution is soaring after gaining support from US retail trading giant Robinhood. According to Robinhood, the ETH layer-2 Arbitrum (ARB) is now available to be bought, sold, and traded over the trading platform. google336x280] News of the addition sent ARB rallying from a price of $0.374 on March 4th to $0.421 a day later. It has since stabilized and is trading for $0.419 at time of writing, a 14.5% gain during the last 24 hours. ARB joins Robinhood’s suite of crypto products, which includes Bitcoin (BTC), Ethereum, Cardano (ADA), Solana (SOL), popular memecoins such as…
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is blacklisting a handful of crypto addresses linked to a man known for allegedly running Nemesis, a now-defunct darknet marketplace. In a new press release, the OFAC says that it is sanctioning Iranian national Behrouz Parasad and his Bitcoin (BTC) and Monero (XMR) addresses because he is accused of being the sole administrator of the illegal site. As stated by Acting Secretary for Terrorism and Financial Intelligence Bradley T. Smith, “As the administrator of the Nemesis darknet marketplace, Parsarad sought to build – and continues to try to re-establish –…
The stablecoin issuer Tether has hired a new chief financial officer (CFO) and committed to completing a full audit. The veteran finance executive Simon McWilliams will now serve as CFO for Tether, which issues the dollar-pegged USDT, the top stablecoin by market cap. McWilliams will lead the stablecoin issuer toward a full audit and “spearhead Tether’s further commitment to transparency and regulatory readiness,” according to a press release from the firm. Tether didn’t provide a timeline for the audit. The firm already releases quarterly attestation reports with the accounting giant BDO, but it says a full audit will “ensure greater…
Coinbase co-founder and CEO Brian Armstrong believes the US crypto strategic reserve recently announced by President Donald Trump should exclusively consist of Bitcoin (BTC). On the social media platform X, Armstrong says having “just Bitcoin” in the US crypto strategic reserve “would probably be the best option.” According to the Coinbase CEO, Bitcoin comes with the “simplest and [clearest] story as successor to gold” relative to other crypto assets. “If folks wanted more variety, you could do a market-cap-weighted index of crypto assets to keep it unbiased.” On Sunday, President Trump confirmed that the US will set up a “crypto…
The crypto market is witnessing a fresh cascade of liquidations as President Trump’s tariff threats become reality. Trump has officially implemented 25% tariffs against both Canada and Mexico, triggering a 500 point drop in the Dow, alongside small drops in the Nasdaq and S&P 500. In the crypto market, liquidations crossed more than $1 billion in just 24 hours, with about 68% of the liquidations hitting traders going long, according to the crypto data aggregator CoinGlass. Bitcoin’s volatile swings continue, with BTC touching $81,879 before rising to $86,400 at time of publishing. The majority of liquidations hit BTC, followed by…
A crypto strategist known for making timely Bitcoin calls believes that a deeper drawdown is now on the table for BTC. Pseudonymous analyst Credible tells his 464,800 followers on the social media platform X that he now expects Bitcoin to go below its recent low of $78,000 after failing to reclaim $90,000 as support. While the trader is short-term bearish on BTC, he says that the pullback will be a golden opportunity for long-term investors. “At the moment, it’s looking like we may get a full retracement on BTC which should result in similar pullbacks across the board and some…
A widely followed crypto trader is turning bullish on a handful of altcoins as digital assets attempt to find a bottom. The pseudonymous trader and analyst known as Altcoin Sherpa says he’s bullish on KAITO, an artificial intelligence (AI)-powered Web3 information platform. He tells his 243,000 followers on the social media platform X that he’s looking to see KAITO rally above the $2.50 level, about 20% higher than current prices. “KAITO just longed around this area, targeting $2.50 and higher. will take profits along the way, hope BTC is stable.” Source: Altcoin Sherpa/X At time of writing, KAITO is worth…
Crypto asset management giant CoinShares says institutional whales pulled billions of dollars out of crypto investment vehicles last week. According to CoinShares’ latest Digital Asset Fund Flows Weekly Report, institutional crypto investment products suffered $2.9 billion in outflows last week. “Digital asset investment products saw a 3rd consecutive week of outflows, marking the largest weekly outflows on record at a total of US$2.9bn, bringing the three-week total to US$3.8bn. We believe several factors contributed to this trend, including the recent Bybit hack, a more hawkish Federal Reserve, and the preceding 19-week inflow streak totaling US$29bn. These elements likely led to a…