Bloomberg analyst Eric Balchunas has reduced the chance of the SEC denying a spot Bitcoin ETF to just 5%, with fellow Bloomberg reporter James Seyffart indicating only black swan interventions from Gary Gensler or the Biden administration possible routes to denial. Interestingly, over the weekend, with the traditional markets closed, crypto continued to trade as usual, with Bitcoin trading sideways and the rest of the market recording a considerable sell-off. Bitcoin traded between $43,500 and $44,400, showing a mere 2% swing. As of press time, the largest digital asset by market cap is bang i ..read more

The total value of assets under management for crypto-related investment products surged 107% to $46.2 billion on the heels of the tenth consecutive week of inflows recorded by these products. Per CoinShares’ weekly report, crypto products recorded a robust inflow of $176 million during the past week, bringing its total for the 10-week influx to an impressive $1.76 billion. The asset manager noted this sustained influx is the most substantial since Oct.2021, coinciding with the launch of a futures-based ETF in the United States. Notably, these inflows have amplified Exchange Traded Products (E ..read more

EDX Markets, an institutional crypto exchange launched on June 20, 2023, has announced its partnership with Anchorage Digital as the custody provider for its upcoming clearinghouse division, EDX Clearing. Anchorage Digital is a regulated crypto platform that offers financial services and infrastructure solutions for institutions. The partnership aims to bridge traditional finance market structures with the digital asset ecosystem. A clearinghouse is a financial intermediary that facilitates the settling of trades between two parties in various markets, such as stocks, bonds, derivatives, and o ..read more

The highly anticipated Litecoin (LTC) halving will occur later today, Aug. 2, marking the third event in the cryptocurrency’s history. According to litecoinhalving.com, the Litecoin network will reach a block height 2,520,000 around 3:16 pm UTC, reducing the block reward from 12.5 LTC to 6.25 LTC. Miners’ subsidy for solving a block is cut in half every 840,000 blocks, which has significant implications for Litecoin’s circulating supply and issuance rate. Halving the block reward decreases the influx of new LTC entering circulation, which has preceded bullish price action in the past, which oc ..read more

Litecoin, one of the oldest digital assets in the industry, has recently seen a significant resurgence. After a period of relative obscurity, the “digital silver” to Bitcoin’s digital gold suddenly surged into the limelight. Litecoin’s price has risen by 183% since last year’s June lows, with a 60% increase in just the last two weeks. This surge is attributed to several factors, including its survival through multiple bear markets, increased adoption, and an upcoming halving event. Resilience In a detailed analysis by Reddit user u/TarkovRedditor, Litecoin’s resilience in market downturns has ..read more

Litecoin has seen a remarkable rise in its value in the recent trading day. The digital currency spiked to $105, a noteworthy increase of 24.6% within the last 24 hours. At this juncture, the sharp increase in Litecoin’s valuation does not appear to be linked to any particular event or news release. Litecoin was officially listed as a tradable cryptocurrency for users of EDX Markets on June 20, 2023. Litecoin experienced a boost during its first three days of trading on EDX, with its price climbing from $77 to $91. The price dipped slightly after this initial rise, but the surge we see today i ..read more

On June 3, Atomic Wallet acknowledged users’ wallets were compromised after reports of stolen funds. In an update on June 5, the firm said that less than 1% of its monthly active users were affected or reported being affected by the hack. The firm added that it was still investigating the security breach and its cause, and victims’ addresses are being reported to major exchanges and blockchain analytics platforms to track and block the stolen funds. On-chain sleuth ZachXBT pegged the total losses at over $35 million. Multiple crypto-assets were stolen, including Bitcoin (BTC), Ethereum (ETH ..read more

The cryptocurrency market saw net inflows of $17.1 billion over the last 24 hours and currently stands at $1.14 trillion — up 1.5% from $1.12 trillion. During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps grew 1.8% and 1.2% to $529.94 billion and $219.63 billion, respectively. The top 10 crypto assets recorded gains over the last 24 hours. XRP leads the pack, up 3.7%, due to positive developments in the SEC lawsuit and acquisition of custody firm Metaco. Litecoin posted the most minor gains, up 0.5%. Source: CryptoSlate.com The market cap of Tether (USDT) grew to $82.8 ..read more

The cryptocurrency market saw net outflows of $2.6 billion over the last 24 hours and currently stands at $1.12 trillion — down 0.2% from $1.13 trillion. During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 0.6% and 0.4% to $520.51 billion and $217.14 billion, respectively. The top 10 crypto assets posted a mixed performance over the last 24 hours. XRP leads the pack with 5.5% gains after Judge Hinman refused the SEC’s motion to seal the Hinman documents, followed by Litecoin, up 4.1% with the ongoing halving narrative. Solana brings up the rear, posting 1.2% loss ..read more

The cryptocurrency market saw net outflows of $17.6 billion over the last 24 hours and currently stands at $1.13 trillion — down 1.5% from $1.14 trillion. During the reporting period, the Bitcoin (BTC) and Ethereum (ETH) market caps fell 1.4% and 1% to $523.55 billion and $218.09 billion, respectively. Most of the top 10 crypto assets posted losses over the last 24 hours except TRON, up 0.3%, and Litecoin, gaining 2.1% to re-enter the top 10, ousting Polkadot. The biggest losers were Solana and Polygon, down 2.4% and 1.9%, respectively. Source: CryptoSlate.com The market cap of Tether (USDT) g ..read more