A U.S. Senator has launched a formal Senate Homeland Security Committee 
inquiry into Binance following reports that the exchange facilitated $1.7 
billion in cryptocurrency transfers to Iranian entities linked to terrorism. 
Investigating the Hong Kong Connection U.S. Sen. Richard Blumenthal, D-Conn., 
has launched an inquiry into Binance following reports that the platform 
allegedly facilitated $1.7 […]

Senator Blumenthal Demands Binance Records Over Alleged $1.7B Iran Sanctions Breach

Nvidia shares slide 5% a day after beating earnings estimates and guiding 
higher, as investors question AI spending momentum.
The post Nvidia shares slide 5% as AI spending concerns overshadow earnings 
beat appeared first on Crypto Briefing.

Nvidia shares slide 5% as AI spending concerns overshadow earnings beat

On-chain analytics firm Santiment has highlighted how Ethereum is still 
undervalued on the MVRV, while Bitcoin and XRP have turned neutral. 
Profitability Has Shifted For Bitcoin, XRP, &amp; Ethereum After The Price Jump In 
a new post on X, Santiment has talked about how the 30-day Market Value to 
Realized Value (MVRV) Ratio has changed for some major digital assets 
following the market recovery that has occurred over the past day. The MVRV 
Ratio is a popular on-chain indicator that compares the market cap of an asset 
against its Realized Cap, a measure of the total amount of capital that 
investors have put into the network. Related Reading: Cardano Sharks &amp; Whales 
Quietly Accumulate 819M ADA Amid Price Decline In short, what the MVRV Ratio 
tells us about is the profit-loss status of addresses on the blockchain as a 
whole. When the metric is above the 1 mark, it means investors are, on 
average, in a state of unrealized profit. On the other hand, the indicator 
being under this threshold suggests the dominance of losses. Here, the MVRV 
Ratio of the entire network isn&#8217;t of relevance, but that of a particular slice 
of it: the buyers from the past month. Below is the chart shared by Santiment 
that shows the trend in the cohort&#8217;s MVRV Ratio for the five top 
cryptocurrencies: Bitcoin, Ethereum, XRP, Cardano, and Chainlink. From the 
graph, it&#8217;s visible that the 30-day MVRV Ratio has risen for all five of these 
assets recently. This is a natural result of the price recovery that has taken 
place over the past day. Bitcoin has returned above $68,000, and Ethereum is 
back beyond $2,000. While prices across the market have surged, the MVRV Ratio 
isn&#8217;t reflecting a uniform situation. Bitcoin, XRP, and Chainlink are all 
inside the neutral zone with the metric sitting at -1.4%, -0.1%, and +3.3%, 
respectively (note that the 0% mark corresponds to the 1 level here). 
Meanwhile, Ethereum has seen its 30-day trader returns remain inside a zone 
that the analytics firm defines as corresponding to a &#8220;mildly undervalued&#8221; 
status, despite the fact that the coin&#8217;s price has surged 6% in the last 24 
hours. Though with an MVRV Ratio of -5.5%, ETH is only just inside the area. 
On the other end of the spectrum is Cardano, which has observed the indicator 
fly to a value of +6.8%, entering into the &#8220;mildly overvalued&#8221; zone. 
Generally, the larger the investor profits get, the more likely they are to 
participate in profit-taking. Due to this reason, a high value on the MVRV 
Ratio can be a sign that a correction could be coming. Similarly, a low value 
suggests the presence of a high degree of market pain, which could result in a 
bottom formation. Related Reading: Bitcoin Yet To See Meaningful Capital 
Return, Glassnode Says &#8220;Buy and dollar cost average when a coin is in an 
&#8216;Undervalued&#8217; zone,&#8221; explained Santiment. &#8220;Be cautious when a coin reaches an 
&#8216;Overvalued&#8217; zone.&#8221; ETH Price Ethereum briefly broke above $2,100 during its 
surge, but the coin has since witnessed a minor retrace to $2,070. Featured 
image from Dall-E, chat from TradingView.com

Ethereum Still Undervalued As Bitcoin, XRP Sit Near Neutral, Santiment Says

The industry-supported Promoting Innovation in Blockchain Development Act 
could be a solution by Congress to push back against criminalizing writing 
code.

US lawmakers move to protect blockchain devs from prosecution

ETH bulls briefly pressed the price above the $2,000 to support, but will a 
positive funding rate and increase in holder profitability generate sufficient 
momentum to hold the level?

Cryptocurrency price in HUF