Interest

Although the market dipped today, Solana has found its way to spark investor interest despite falling a few points in the past 24 hours. However, the token is still up nearly 22% in the past month, going against the market’s general bearishness after last week’s slip and slide.  Solana’s significant traction around the world has garnered some attention in the institutional space, leading to a development that might help SOL weather the bearish storm ahead. But with the coming announcements…

Several large-cap assets, including Bitcoin and Ethereum, struggled to make a mark in the past week, as the general market suffered a steep downturn in prices. According to various analyses, the market was negatively impacted by some recent macro developments in different countries. This significant decline has had a widespread effect on the market sentiment, with most investors now treading cautiously. This can be seen with the recent drop in Ethereum open interest, which could hold serious implications for the…

The post XRP Reverses Its Gains as Open Interest Drops by Nearly 10%! Here’s What’s Next for XRP Price appeared first on Coinpedia Fintech News On Wednesday, Judge Analisa Torres ruled that Ripple Labs would face a $125 million fine for civil penalties and prohibited the company from future breaches of securities regulations. This marked the end of prolonged battle between the SEC and Ripple, skyrocketing the XRP price toward new monthly highs. However, in recent hours, the price of…

The post Bank of England Cuts Interest Rate By 25 Basis Points appeared first on Coinpedia Fintech News The Bank of England has decided to cut interest rates by 25 basis points moving it from 5.25% previously to now at 5.0%. This is the first time in four years, since the onset of the COVID-19 pandemic in 2020, that the Bank of England has chosen to pivot from its monetary tightening policy amid soaring inflation. While the BoE Governor Andrew…

Bitcoin Layer-2 (L2) solutions are attracting significant investment and gaining user attention. This growing traction suggests that the markets could be on the brink of a new narrative. With ongoing development and investment in Bitcoin L2 technologies, a new chapter in the Bitcoin story may unfold. Bitcoin Layer-2s Keep Gaining Traction According to recent report by Michael Novogratz’s Galaxy, Bitcoin Layer-2 projects collectively raised an impressive $94.6 million in the second quarter of 2024. This represents a substantial 174% increase…

Bitcoin (BTC) held above $66,000 after the Federal Open Market Committee’s (FOMC) decision on Wednesday. The Federal Reserve (Fed) decided to keep interest rates unchanged at 5.25%—5.50% for the eighth consecutive meeting. The Fed’s decision comes amid cautious optimism after indicating no rush to lower rates until it has gained greater confidence inflation is moving sustainably toward its 2% target.  Fed Leaves Interest Rates Unchanged The FOMC voted unanimously to keep its benchmark overnight borrowing rate between 5.25% and 5.50%.…

Cardano (ADA) has witnessed a massive 300% surge in Exchange Traded Product (ETP) inflows. The unexpected influx of capital from institutional investors could set the stage for a potential uptrend ahead of the Chang hard fork.   Cardano Inflows Skyrocket 300% On July 29, CoinShares, a leading firm in the crypto ETP industry, released a weekly report on the fund flows of various digital assets. According to CoinShares, digital asset investment products saw a relatively muted inflow of approximately $245 million…

Data shows social media users are currently not paying much attention to memecoins like Dogecoin (DOGE) as compared to Bitcoin (BTC) and other top caps. Bitcoin & Other Layer 1 Top Caps Getting All The Investor Focus Right Now According to data from the analytics firm Santiment, social media users are showing increased focus on the top layer 1 assets as compared to memecoin and other sectors. The indicator of relevance here is the “Social Dominance,” which is based on…

The Bitcoin open interest is a good indicator of how investors are viewing the cryptocurrency and what bets they’re making. This is why the metric hitting a new all-time high is a big deal, carrying serious implications for the market. Once again, the Bitcoin open interest has set a new record and this could spell doom for the digital asset, even if just in the short-term. Bitcoin Open Interest Sets New Record In an interesting turn of events, the Bitcoin…