Author: Isabella Taylor
SOL Strategies, a Canadian publicly traded company focused on supporting the Solana blockchain ecosystem, has expanded its holdings with a new $20 million Solana purchase. The Canada-listed company announced the move on Tuesday, May 6, disclosing the completion of the $20 million buy is from the first tranche of its $500 million convertible note facility. According to SOL Strategies, the acquisition was for 122,524 Solana (SOL) tokens, completed at an average price of $148.96 per token. The company spent a total of about $18.25 million on the new SOL haul, it noted “With the closing of our initial $20 million…
Crypto markets are down 0.48%, reflecting the drop in stock markets and technical pressures on Bitcoin. Crypto markets faced minor selling pressure from both macroeconomic factors and Bitcoin technicals. On Tuesday, May 6, the overall crypto market cap declined 0.54%, falling below $3 trillion to $2.94 trillion. The main driver of the decline mirrored the same factors weighing on equities. The Dow Jones lost more than 400 points, or 1.00%, while other major indices also fared poorly. Typically, Bitcoin (BTC) and the broader crypto market, are correlated with stocks, which likely means that similar factors influence both. In this case,…
As the Federal Reserve’s Federal Open Market Committee convenes tomorrow, the crypto market appears to be at a crossroads, with investors keenly awaiting signals that could influence digital asset valuations. Currently, the consensus among analysts suggests a high probability that the Fed will maintain its benchmark interest rate within the 4.25%–4.5% range, reflecting ongoing concerns about inflation and economic stability. Bitcoin (BTC) has exhibited resilience ahead of the meeting, trading around $95,000, while Ethereum (ETH) hovers near $1,787. However, the broader crypto market remains sensitive to macroeconomic cues, particularly those emanating from the Fed’s policy decisions. Market participants are closely…
U.S. stocks fell sharply Tuesday as uncertainty over global trade negotiations and caution ahead of the Federal Reserve’s rate decision weighed on markets. The Dow Jones Industrial Average dropped 389.83 points, or 0.95%, while the S&P 500 lost 0.77% and the Nasdaq Composite slipped 0.87%. The sell-off came after President Donald Trump dialed back expectations for imminent trade deals during a meeting with Canadian Prime Minister Mark Carney. “We don’t have to sign deals,” Trump said, contradicting earlier remarks by both himself and Treasury Secretary Scott Bessent, who had suggested major agreements were close. Shares of Tesla declined over 2%…
Cardano is gradually approaching a major support zone near $0.62, with several technical indicators aligning for a potential bounce. However, a lack of trading volume leaves bulls awaiting stronger confirmation. Cardano’s (ADA) has been in a slow decline over the past several sessions. Traders are now closely monitoring the $0.62 region, which serves as a critical level of confluence, incorporating Fibonacci support, historical horizontal support, and value area overlap, making it a potential pivot point if sentiment shifts. Key technical points Critical Support Zone: The $0.62 area includes the 0.618 Fibonacci retracement, daily horizontal support, and value area overlap, forming…
Bitcoin maxis say, “Never sell your Bitcoin.” They repeat it when the market crashes to urge people not to dump their BTC in a loss out of panic and fear. They repeat it when the price is going up because they believe that no matter how high the cost is in relation to previous levels, it is still negligible in comparison to the future levels. So if they never sell, why do they care about its price (oh, they do)? The message behind HODL The term “hodl” is one of the staples of hardcore bitcoiners. It is a misspelled word…
Crypto markets saw 9.9% gains in April, led by Bitcoin, as tariff pauses boosted sentiment. Bitcoin (BTC) strengthened its dominance even as crypto markets are recovering. On Tuesday, May 6, Binance Research released a report on the state of the crypto markets in April. The report points out that the markets have recovered, gaining 9.9% over the month, largely thanks to pauses on tariffs. Despite the broader recovery, Bitcoin’s dominance has continued its steady rise, a trend ongoing since 2022. Currently, Bitcoin accounts for 63% of the total crypto market cap, the highest share since 2021. According to Binance Research,…
Cryptocurrency prices have pulled back this week as market attention shifts to Wednesday’s Federal Reserve interest rate decision. Bitcoin (BTC) has pulled back from last week’s high of $97,000 to $93,700, while Ethereum (ETH) remains below the $2,000 level. The total market capitalization of all cryptocurrencies has slipped to $2.9 trillion, with the crypto fear and greed index stuck at a neutral point. On the positive side, assets in spot Bitcoin ETFs have surged by $5 billion in the last two weeks, signaling that there is still demand from institutional investors. Another positive is that analysts and Polymarket traders anticipate…
Ledger users can now sell their crypto for fiat without leaving the company’s secure hardware wallet environment, thanks to a new integration with Web3 payments infrastructure provider Transak. The partnership expands beyond Transak’s existing on-ramp support to now include off-ramping for Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and other assets directly within the Ledger Live app on desktop and mobile, crypto.news can exclusively report. The integration allows users in more than 100 countries to convert crypto holdings into their local fiat currency through bank transfers and other supported payment methods. This marks a significant upgrade to Ledger Live’s ‘Sell’…
The UK government has ruled out creating national cryptocurrency reserves at the moment. Economic Secretary to the Treasury Emma Reynolds expressed negative sentiment towards a Bitcoin (BTC) reserve at the FT Digital Asset Summit in London. Responding to questions… Source link