Altcoin News by Thebittimes.Com

Bitcoin (BTC) has experienced an impressive surge in its price in recent weeks. Its substantial rise can be attributed to a resurgence of investor optimism, largely fueled by the belief that US regulators may finally greenlight the first spot exchange-traded fund (ETF) for the cryptocurrency, possibly within this year.  As a result of this newfound enthusiasm, BTC has soared above the $35,000 mark, a level it had not reached since May 2022.  However, the burgeoning optimism isn’t confined to its price alone; it’s also evident in Bitcoin’s network activity, with over 700,000 new addresses added on November 4, as noted by crypto analyst Ali Martinez. “This is an important milestone, as BTC network growth is the best price predictors!,” said the expert in his X post.  Chart showing the number of new daily BTC addresses created. Source: Ali Martinez Bitcoin price analysis Cryptocurrency 'Bitcoin Jesus' Roger Ver sues Matri...

Glassnode’s latest on-chain metrics show the number of bitcoin wallets holding over 1 BTC has hit a new all-time high (ATH), indicating investor optimism in the crypto markets. The court decision that XRP is not a security has brought about positive reactions from market participants, as it challenges the Securities and Exchange Commission’s (SEC) stance on token classification.  Ripple CEO Brad Garlinghouse has praised the ruling, asserting that it will likely positively affect other digital tokens operating in the United States. This legal victory has triggered a surge in altcoin prices.  You might also like: Ripple CEO calls XRP ruling a win for crypto industry XRP has experienced a short-term price decline after a dramatic surge. It is currently valued at $0.7285. XRP’s price surged by 54.02% during the past week. With 53 billion XRP in circulation, the digital asset’s market cap is $38.2 billion. XRP price | Source: CoinGecko The RSI value on ...

Tether Holdings, the issuer of the USDT stablecoin, has frozen two addresses on the Ethereum network that received funds from Multichain’s multi-party computation (MPC) address. The two addresses, currently flagged by Ethereum block explorer Etherscan as “Multichain suspicious addresses,” are claimed to collectively hold about 2.53 million USDT. Tether has frozen 2 addresses on Ethereum that hold about 2.53 million USDT: 0x9d5…2b68, 0x48B…4537. Both of these addresses have received funds from the Multichain team’s MPC address and are currently flagged by Etherscan as “Multichain Suspicious Addresses.”… — Wu Blockchain (@WuBlockchain) July 8, 2023 The stablecoin issuer’s action comes after a significant amount of multichain assets valued at approximately $130 million were reported to have flowed out of the Multichain cross-chain protocol under suspicious circumstances on July 7. Multichain’s Fantom (FTM) Bridge experienced an outflow...

At one point in Q4 last year, the cumulative value of all the cryptos surpassed the $3 billion benchmark. With the onset of the bear market after that, almost all cryptos had substantial price reductions. Leaving aside $3 trillion, $2 trillion, and $1 trillion, the total crypto market cap has not even traded above $900 billion since November 9, 2022. Even after noting a modest recovery of late, the aggregated crypto market valuation stood only at $823.3 billion at press time. Total Crypto Market Cap | Source: TradingView Fear has not yet seeped out of the minds of market participants. As illustrated below, the crypto fear and greed index’s reading has been more inclined towards lower numbers, justifying the said narrative. Crypto Fear & Greed Index | Source: alternative.me Also Read: Bitcoin Miners’ Sell-Pressure Most Aggressive in 7 Years Bitcoin Investors Continue to Capitalize The price trend of the market’s largest crypto which was lackluster until now ...