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Why Scammers Are Turning to Cryptocurrencies
According to data from Chainalysis, the amount of crypto stolen by impersonators and tax authority scams was an estimated $24 million in 2023. The firm estimates that the total amount stolen is nearly $17 million for 2024 as of April. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Is Meme Coin Demand Stronger Than Ever?
The meme coin hype remains robust despite the stalled rally in bitcoin (BTC). Kaiko data reveals that meme coins continue to lead the pack when it comes to the open interest to market cap ratio for altcoins. PEPE and dogwifhat show twice the ratio relative to other altcoins. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Key Bitcoin Indicator Signals Period of Stability in Crypto Market
Bitcoin’s volatility risk premium (VRP) has collapsed from 15% to 2.5% since the halving on April 20, according to data tracked by Bitfinex’s analysts. The drop in the indicator suggests a relatively low volatility market environment ahead. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Friend.Tech's Native Token Tanks After Airdrop
Decentralized social platform Friend.Tech airdropped its native token FRIEND on Friday. The token's price rose as high as $169 immediately after it began trading on Base before quickly collapsing. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Why USDT Dominates Supply With Lower Transaction Volume
Visa launched a stablecoin dashboard that shows the outstanding supply of fiat-backed tokens at an all-time high, with Tether’s USDT dominating. While USDT dominates supply, when it comes to transaction volume, USDC takes the number one spot. Find out why "Crypto Is Macro Now" newsletter author, Noelle Acheson says this could be. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Akash Network’s Token Surges Nearly 50% on Upbit Listing
Akash Network’s token surged to nearly $7 after the token was listed on South Korean exchange, Upbit. Upbit is the largest crypto exchange in South Korea by trading volume, and AKT has a market cap of 1.45 billion dollars according to Messari. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Bitcoin Transaction Fees Slide Significantly Post Halving
Bitcoin transaction fees have significantly lowered following the halving, with medium-priority transactions now costing $8.48 while high-priority transactions costing $9.32, according to data from Mempool.space. The hashprice index, a metric created by Luxor to quantify how much a miner can expect to earn from a specific quantity of hashrate, has also dropped from $182.98 per hash/day to $81. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Uniswap's UNI Down Almost 20% After SEC's Wells Notice
Uniswap's native token UNI slid almost 20% in the past 24 hours amid news that the decentralized crypto exchange received a notice from the U.S. SEC that it intends to pursue an enforcement action. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Bitcoin Supply Inactive for a Year Drops to 18-Month Low: Glassnode
Data tracked by blockchain analytics firm Glassnode shows that the percentage of bitcoin's circulating supply that last moved on-chain at least a year ago has declined to nearly 65.8%, the lowest since October 2022. What's the reason behind the urge to sell? CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
Could Bitcoin Rally to $80K on Triangle Break?
A technical analysis by 10x Research predicts that bitcoin could soon rally to new record highs of $80,000 after breaking through a so-called triangle resistance. The breakout comes after the latest job report that indicated resilience in the U.S. economy. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."