Texas Bitcoin Reserve Law Triggers Sunday—Silence Means Yes
Texas Bitcoin Reserve Law Triggers Sunday—Silence Means Yes
Texas is now within a single, silent procedural heartbeat of creating the nation’s largest government-run stash of bitcoin. Senate Bill 21, the Texas Strategic Bitcoin Reserve and Investment Act, was dispatched to Gov. Greg Abbott on June 1 after clearing both chambers by wide margins. Texas Bitcoin Reserve Set To Become Law Under Article IV, […]
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France Taps Bitcoin Mining To Harness €80 Million In Excess Renewable Energy
France faces a familiar problem: it often makes more electricity than it can sell. According to energy researcher Raphaël Bloch, the country wasted about € 80 million worth of power in 2024. Now, a group of lawmakers wants to put that extra juice to work. They’ve filed Amendment No. 547 with the National Assembly to fold Bitcoin […]
- NEWSBTC
Dogecoin Price Enters ‘Alarm Zone,’ Major Move Coming?
The Dogecoin price is recording significant losses across multiple timeframes as the crypto market experiences a spike in selling pressure. The memecoin has been one of the worst performing cryptos over the past months as bull fail to push its price above critical levels. Related Reading: On-Chain Analyst Warns: Bitcoin Peak Expected, Altcoins Facing -95% Plunge At the time of writing, the Dogecoin price trades at $0.17, recording a 13% loss over the past seven days. On smaller timeframes, DOGE saw a 3% decline only topped by Solana. Dogecoin price trends to the downside on the daily chart. Source: DOGEUSDT on Tradingview Dogecoin Price On Ropes, Where Is DOGE Heading? According to top analyst Eliz, the Dogecoin price is at risk of falling to a dangerous area if it fails to sustain its current price. This ‘alarm zone’ is sitting around $0.14, if bulls fail to defend this area, the DOGE is at risk of falling deeper into the $0.12 to $0.08 and revisit levels last seen in 2024. Dogecoin price heading for a critical area. Source: Eliz883 via X As seen in the image above, the analyst remains hopeful that the cryptocurrency might rebound if it hits the ‘alarm zone.’ If this scenario comes to fruition, the cryptocurrency might reclaim its current levels and rise slightly towards the $0.2 area. The bullish momentum might push DOGE to previous highs on low timeframes, thus entering the $0.20 to $0.24 range. However, traders should remain cautious and watch closely for the coming price action before taking any position. Altcoin Season Could Save the DOGE Price Chris Burniske, former lead crypto analyst at Ark Invest, believes the altcoin sector is displaying some strength despite the Bitcoin sell off. While the top cryptocurrency seems to be cooling off, Burniske claims that Ethereum and Solana remain relatively healthy. Related Reading: Bear Signal Lingers On Dogecoin—Here’s Why That’s Bullish This factor might play in favor of a Dogecoin price rebound, even if the crypto hits the ‘alarm zone.’ The analyst stated the following on the current altcoin cycle hinting at potential gains for DOGE and other cryptocurrencies: ETH showing more strength than acknowledged, and SOL processing major FTX unlocks that were once viciously FUD’d without much of a sweat. The dynamics of this bull are different from prior runs, largely owing to altcoin fatigue, memecoin mania, and TradFi finally “getting it,” but the bull is still alive. Cover image from ChatGPT, DOGE/USDT chart from Tradingview
Ripple and SEC Ask Court to Pause Appeals as They Fight to End XRP Case
Ripple and the SEC have requested to pause their appeals while awaiting a decision that could finalize their settlement and conclude the prolonged case regarding XRP sales. SEC and Ripple Align on Pausing Appeals Pending Court Decision on XRP Case The U.S. Securities and Exchange Commission (SEC) and Ripple Labs informed the U.S. Court of […]
- NEWSBTC
XRP Bullish Signal: Shark & Whale Wallets Set New All-Time High
On-chain data shows XRP shark and whale population has climbed to a new record alongside a spike in activity on the blockchain. XRP Wallets With 1 Million+ Tokens Have Set A New Record In a new post on X, the on-chain analytics firm Santiment has discussed the latest trend in a couple of indicators related to the XRP network. The first metric of relevance is the “Supply Distribution,” which tells us, among other things, the number of wallets that belong to a particular coin range. Related Reading: Stablecoin Exchange Inflows Plummet $61 Billion—Warning Sign For Bitcoin? In the context of the current topic, the range of interest is above 1 million coins (with the upper bound being infinity). This cutoff for the range converts to about $2.2 million at the current exchange rate, which is quite significant. Naturally, the only investors who would qualify for this threshold would be the big-money ones. Such holders are popularly known as the sharks and whales. Generally, the influence of any entity on the network goes up the more coins that they hold, so this cohort, with its large holdings, can carry some degree of power. As such, the behavior of the sharks and whales can be worth keeping an eye on. If nothing else, it can at least inform us about what the sentiment may be like among these humongous investors. Now, here is the chart shared by Santiment that shows the trend in the Supply Distribution of these 1 million+ holders over the past year: As displayed in the above graph, the XRP Supply Distribution has recently registered an uptick for sharks and whales, implying more wallets carrying above a million coins have popped up on the network. This could be an indication that some new big-money investors have potentially joined the chain. Following the increase, the network now has 2,708 wallets of this size, which is a new record. In the same chart, the analytics firm has also attached the data of the second relevant metric: Daily Active Addresses. This indicator measures the unique total number of wallets that are becoming involved in some kind of transaction activity on the network every day, whether as a sender or receiver. Since the smaller entities like retail massively outweigh the large investors in terms of number, this metric essentially represents the amount of activity that the entities on the smaller end of the network are participating in. From the graph, it’s visible that the XRP Daily Active Addresses have recently observed a large spike. Over the past week, the metric has averaged a value of 295,000 addresses daily, which is a drastic jump over the 35,000 to 40,000 figure witnessed during the last three months. Related Reading: Dogecoin Must Hold This Level—Or Risk A 30% Price Crash “The XRP ledger is showing serious signs of growth, from both a usage and key stakeholder perspective,” notes Santiment. It now remains to be seen what effect, if any, these changes in network metrics would have on the cryptocurrency’s price. XRP Price XRP shot up beyond the $2.33 mark yesterday, but it seems bullish momentum has already faded as the coin has dropped back to $2.20. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Dogecoin Price Enters Historical Bounce Zone, But Will This Time Be Different?
Dogecoin has once again returned to a familiar price range that has historically acted as a launchpad for upward moves. In the latest 4-hour candlestick timeframe, Dogecoin is now approaching the $0.168 to $0.172 support band, a level it previously bounced from earlier this month. Despite this price decline, the meme coin is technically ready […]
Coinbase Eyes SEC Approval to Launch Tokenized Stock Trading in US Market
Coinbase is targeting SEC approval to launch tokenized stock trading in the U.S., aiming to transform blockchain into a mainstream vehicle for equities and financial growth. SEC Approval Could Catapult Coinbase Into Tokenized Asset Powerhouse Cryptocurrency exchange Coinbase (Nasdaq: COIN) is pursuing regulatory clearance to introduce tokenized stock trading in the United States, Reuters reported […]