Coinbase to Add 24/7 Trading for SHIB, Bitcoin Cash, Dogecoin, and Others

XRP has experienced a significant drop, falling to $1.81, its lowest price since April, as Bitcoin's weakness continues to pull altcoins into oversold territory. The cryptocurrency market is under pressure, with Bitcoin's price fluctuating around $85,000, reflecting a broader downturn in the sector.

As decentralized autonomous organizations (DATs) face increasing pressure, institutions are considering Bitcoin Finance (BTCFi) as a strategic pivot to adapt to the evolving cryptocurrency landscape. This shift indicates a potential move towards more innovative financial strategies within the crypto sector.

A hobbyist miner has achieved a remarkable feat by winning a Bitcoin block worth approximately $265,000, overcoming odds of 1 in 180 million using just one old ASIC miner. This achievement highlights the unpredictable nature of cryptocurrency mining, where even minimal resources can lead to significant rewards.

Tom Lee, co-founder of Fundstrat, has suggested that Strategy stock may serve as a preferred hedge against losses in the cryptocurrency market, particularly amid ongoing volatility affecting major cryptocurrencies like Bitcoin and Ethereum. This perspective comes as Bitcoin's price remains steady around $90,000 despite significant selling pressure and a decline in altcoins.

Coinbase has executed an internal wallet migration, a standard practice in the cryptocurrency industry aimed at enhancing cybersecurity measures. This migration reflects the company's commitment to maintaining high security standards amidst evolving threats in the digital asset space.

A liquidity crisis has emerged in the decentralized finance (DeFi) sector, with approximately $12 billion in liquidity remaining idle as 95% of capital goes unused. This situation has raised concerns about the efficiency and utilization of capital within the DeFi ecosystem, highlighting potential vulnerabilities in the market.

Coinbase has reported a significant widening of its 'negative premium,' indicating weak demand in the U.S. cryptocurrency market. This premium gap has reached its widest level since the first quarter of the year, reflecting a decline in institutional interest and increased selling pressure on Bitcoin.

The UK's National Crime Agency (NCA) has reported that a crime network, valued in the billions, has utilized cryptocurrency to transfer drug-related funds to Russia. This revelation highlights the intersection of organized crime and digital currencies, raising concerns about the regulatory landscape surrounding cryptocurrencies.