About cryptomode_2024

Solana's GME Memecoin Soars 200%: Details � CryptoMode

Cryptomode_202406 Jun, 2024Business

Naturally, it all goes back to Roaring Kitty, whose real name is Keith Gill. The trader posted on X a picture of a reverse card from the game Uno, and for some reason, it caused the price of GME on Solana to skyrocket by over 300%., according to data from CoinGecko. The trader also reappeared on Reddit for the first time since last April, posting a screenshot showing the purchase of 5 million GME shares for $115.7 million and an investment of $65.7 million in call options, anticipating that GME?s share price would reach at least $20 by June 21.

Digital Asset Investment Records $2B Inflows � CryptoMode

Cryptomode_202406 Jun, 2024Business

Among the digital asset products, Bitcoin (BTC) was the top performer, attracting $148 million in inflows. In contrast, short-bitcoin products saw $3.5 million in outflows, indicating positive sentiment among ETF investors. Ethereum (ETH) continued its positive streak with a second week of inflows following the SEC?s approval of a spot-based ETF that will launch in July 2024. This is a significant recovery after a 10-week outflow streak totaling $200 million. Ethereum?s resurgence also benefited Solana (SOL), which saw $5.8 million in inflows last week. However, blockchain equities struggled, facing $7.2 million in outflows last week and $516 million year-to-date.

Bitcoin Blockchain Notes Record-High NFT Sales � CryptoMode

Cryptomode_202406 Jun, 2024Business

Even though the month is relatively new, there have been $3.82 billion in NFT sales on the Bitcoin blockchain, making it one of the top five blockchains for digital collectibles. This milestone is primarily attributed to the birth of Ordinal inscriptions, which has significantly boosted the popularity of Bitcoin-based NFTs. Before the launch of Ordinal inscriptions, BTC?s involvement in the NFT market was relatively modest and was primarily facilitated by technologies like Counterparty.

Base's Memecoin BRETT Hits $1B Market Cap � CryptoMode

Cryptomode_202406 Jun, 2024Business

According to data from CoinMarketCap, the memecoin now holds the third spot as the largest coin by market cap in the Base ecosystem, only surpassed by Echelon Prime (PRIME) and Axelar (AXL). BRETT is a memecoin that quickly gained traction in the Base ecosystem. It?s referred to as the blue mascot of the network.

Microstrategy Settles Tax Evasion Suit for $40M � CryptoMode

Cryptomode_202404 Jun, 2024Business

The New York Times reported on June 3 that the attorney general for the District of Columbia reached this settlement with Saylor and his software company. Local officials assessed the agreement as the district?s largest income tax fraud recovery. This lawsuit was the first filed under the district?s amended False Claims Act, encouraging whistleblowers to report tax evasion by residents allegedly hiding their residency. In August 2022, the District of Columbia sued Saylor and MicroStrategy, alleging that Saylor had not paid income taxes in the district for at least ten years while residing there. According to the claims, MicroStrategy helped Saylor evade more than $25 million in DC income tax. Initially, experts suggested that Saylor could face penalties of up to $75 million.

Microstrategy Settles Tax Evasion Suit for $40M � CryptoMode

Cryptomode_202404 Jun, 2024Business

The New York Times reported on June 3 that the attorney general for the District of Columbia reached this settlement with Saylor and his software company. Local officials assessed the agreement as the district?s largest income tax fraud recovery. This lawsuit was the first filed under the district?s amended False Claims Act, encouraging whistleblowers to report tax evasion by residents allegedly hiding their residency. In August 2022, the District of Columbia sued Saylor and MicroStrategy, alleging that Saylor had not paid income taxes in the district for at least ten years while residing there. According to the claims, MicroStrategy helped Saylor evade more than $25 million in DC income tax. Initially, experts suggested that Saylor could face penalties of up to $75 million.

Taiko Bridge Deposits Surge by 1,326% � CryptoMode

Cryptomode_202403 Jun, 2024Business

On May 27, Taiko announced the launch of its mainnet on Ethereum (ETH). This development allows users to transfer their ETH between Layer 1 and Layer 2, boosting bridge activity. Additionally, the anticipation of an upcoming airdrop has likely spurred increased activity. According to the official website, tokens will be available on June 6, and the project will distribute 5% of the total supply.

Ethereum About to Pop Off: Analyst � CryptoMode

Cryptomode_202403 Jun, 2024Business

Analyst Nathan Sloan predicts Ethereum (ETH) is about to explode based on its current dynamics and anticipated events. The analyst details potential price surges for Ethereum following an anticipated ETF launch. With recent positive legislative movements and fines imposed on the SEC, he states that Ethereum, predicted to hit $10,000 by other experts, is poised to receive market tailwinds in the upcoming months. His optimism is further bolstered by Ethereum?s expanding ecosystem, its position as a leader in the crypto market, and strategic institutional support from entities like BlackRock.

Ethereum About to Pop Off: Analyst � CryptoMode

Cryptomode_202403 Jun, 2024Business

Analyst Nathan Sloan predicts Ethereum (ETH) is about to explode based on its current dynamics and anticipated events. The analyst details potential price surges for Ethereum following an anticipated ETF launch. With recent positive legislative movements and fines imposed on the SEC, he states that Ethereum, predicted to hit $10,000 by other experts, is poised to receive market tailwinds in the upcoming months. His optimism is further bolstered by Ethereum?s expanding ecosystem, its position as a leader in the crypto market, and strategic institutional support from entities like BlackRock.

Is Bitcoin About to Explode? Analyst Weighs � CryptoMode

Cryptomode_202403 Jun, 2024Business

Analyst Eric from Known Crypto predicts Bitcoin (BTC) is poised to explode based on its current trajectory. The expert highlighted Bitcoin?s significant breakout from its long-term consolidation pattern since October 2017. For the first time since the 2017 bull run, he states that Bitcoin has closed above its previous highs, signaling the potential onset of a significant upward trend projected to reach new highs by late 2024 or early 2025. The Expert also pointed out that quarterly volatility and momentum indicators are in the bullish control zone, lending further legitimacy to this breakout.

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