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August 16, 2024, 21:48

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💰 Bitcoin perpetual futures reflect market pessimism as funding rates stay below neutral: K33 Research

The bitcoin perpetual futures market is showing considerable pessimism, with funding rates remaining below neutral for an extended period — similar to the significant price drop the digital asset experienced in November 2022 — according to an analyst. "We’re in the deepest funding rate environment since bitcoin’s 80% drawdown in November 2022," K33 Research analyst Vetle Lunde said.

Source

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🪙 Ethereum Foundation disburses $8.5M in grants for Q2, backing 98 projects

The Ethereum Foundation Ecosystem Support Program (EFESP) allocated a total of roughly $8.5 million to support 98 projects, according to the foundation’s inaugural grants allocation report published on Aug. 30. Although the report breaks down the projects by type, recipient, and contact, it does not provide a detailed breakdown of how much each project received.

Source

https://t.me/Blockchain_Explained

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🇸🇻 El Salvador’s Bukele says ‘Bitcoin hasn't had the widespread adoption we hoped for'

Nayib Bukele, the president of El Salvador who passed the bill to legalize bitcoin as legal tender in the Latin American nation, said the monetary experiment has had mixed results so far. “Bitcoin hasn't had the widespread adoption we hoped for. Many Salvadorans use it. The majority of large businesses in the country have it,” Bukele said in a wide-ranging interview with TIME Magazine when asked if bitcoin monetization has “been a success.”

Source

https://t.me/Blockchain_Explained

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🟠 Binance CEO Addresses Allegations of the Exchange Seizing All Palestinian Funds

The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces. Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external pressures and engaging in discriminatory practices. He called for a boycott of Binance and supported platforms that prioritize user privacy and autonomy.

Source

https://t.me/Blockchain_Explained

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💰 Bitwise CIO says Powell’s remarks could spark a new Bitcoin bull run

Bitwise CIO Matt Hougan believes that US Federal Reserve Chair Jerome Powell’s recent dovish comments could ignite a new bull market for Bitcoin. On Aug. 21, Powell hinted that interest rate cuts are imminent. This message has sparked optimism among investors, who believe lower rates will benefit Bitcoin.

Source

https://t.me/Blockchain_Explained

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