cryptocurrency trends

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European crypto ETN and ETP report: Thursday, June 9

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Most crypto investment vehicles in Europe traded marginally down on Thursday, while others bucked the trend.  21Shares Cardano ETP was the worst performer on our list for June 9, trading at $12.89 — representing a daily loss of 1.55%. Other notable drops were 21Shares Ripple XRP ETP, down 0.83%, and BTCetc ETC Group’s Physical Bitcoin ETN, which lost 0.62% on Thursday.  Elsewhere, 21Shares Tezos ETP was the best performer, gaining 4.99% to close at $12.20. VanEck’s Solana ETN also closed …

European crypto ETN and ETP report: Wednesday, June 8

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Most of the major European crypto investment vehicles closed up on Wednesday, with some products seeing a higher degree of outperformance.  21Shares’ Cardano ETP rose the most, up 4.16% at the close. VanEck’s Tron (TRX) was the worst performer on The Block’s list, closing down -0.36% on Wednesday.  Here is a brief look at how some of the major European crypto investment vehicles performed on Wednesday, June 8: As this is the first daily report on ETP and ETN performance in …

Citadel Securities is gearing up to launch a crypto trading ecosystem for brokers

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Citadel Securities, the market-making firm founded by billionaire Ken Griffin, is in preparations to launch a digital assets trading ecosystem for brokerages, according to a source with knowledge of the process.  Involved in the preparations are market-making firm Virtu as well as venture capital firms Sequoia Capital and Paradigm, the source said. CoinDesk first reported the details of the plan on Tuesday. Both Sequoia and Paradigm took part in a $1.15 billion funding round for Citadel Securities earlier this year, …

Crypto IRA provider says it is suing Gemini for alleged role in $36 million breach

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IRA Financial Trust, a provider of crypto IRA services, said Monday that it is suing crypto exchange Gemini for its alleged role in the breach of customer retirement accounts. IRA Financial, which has offered clients exposure to crypto via integration with Gemini, said in a press release that the New York-based Gemini’s systems were responsible for the February attack, which resulted in the theft of $36 million from those retirement accounts. The firm said that Gemini’s platform didn’t “have the …

PancakeSwap (CAKE) price rises 9% as Binance Labs purchases tokens

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Quick Take Binance’s venture capital arm said that it had invested in PancakeSwap’s governance token CAKE on Monday. The price of CAKE jumped on the announcement. PancakeSwap’s governance token CAKE rose 9% on the news that Binance’s venture capital arm had purchased CAKE as an investment. As a result of the bump in price, CAKE was up 9.8% on the day trading at $4.78 at the time of writing, according to CoinGecko. Despite today’s bounce, the token is still in …

MicroStrategy CEO Saylor says bitcoin’s near-term volatility largely irrelevant

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Bitcoin’s near-term volatility is largely irrelevant once you understand the fundamentals of the leading cryptocurrency and how difficult it would be to create something better, according to MicroStrategy CEO Michael Saylor. “Bitcoin is the most certain thing in a very uncertain world, it’s more certain than the other 19,000 cryptocurrencies, it’s more certain than any stock, it’s more certain than owning property anywhere in the world,” he said in an interview with The Block last week after appearing at CoinMarketCap’s …

FTX surpassed Coinbase as second-biggest centralized crypto exchange in May

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FTX overtook Coinbase’s spot in May as the second biggest centralized crypto exchange in terms of market share, according to data compiled on The Block Research. The dominant player in the market was still Binance by far, which commanded a 64.1% share, followed by FTX (10.8%) and Coinbase (9.6%) during the monthly period. Coinbase has recently faced some struggles, posting a net loss of $430 million for Q1 2022 and falling on the stock market by roughly 36% in May. …

Su Zhu says his ‘supercycle’ price thesis was ‘regrettably wrong’

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Three Arrows Capital co-founder Su Zhu has admitted that his “supercycle” price thesis and projection that bitcoin could hit $2.5 million hasn’t played out as expected. “Supercycle price thesis was regrettably wrong, but crypto will still thrive and change the world every day,” he said on Twitter today. The supercycle was an idea pushed by Zhu that suggested the crypto market would gradually rise during this market cycle, avoiding a sustained bear market. In an interview on the UpOnly podcast …

Celsius token price drops below $0.60 for first time since September 2020

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Quick Take Celsius (CEL) token was trading at $0.58 this morning. Crypto prices have been mostly down across the board throughout May. Celsius (CEL) is trading below $0.60 today amid a broader market downturn throughout May. As of this morning, celsius was trading at $0.58, down from $0.70 just 24 hours before, according to data via Coingecko. Friday’s losses mean that celsius is down just over 30% in the past week from $0.83 on May 20. This drop leaves celsius …

CryptoPunks floor price drops below $100,000, down 50% from last month

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Quick Take The CryptoPunks floor price has fallen below 50 ETH. NFT collections continue to come under downward price pressure. The floor price of the NFT collection CryptoPunks slipped below $100,000 on Wednesday as the NFT market continues to slide. The floor price represents the price of the cheapest piece in the collection and reflects market demand. The NFT collection, which was launched by Larva Labs in 2017, had a floor price of 47 ETH ($91,673) at the time of …