Day: April 2, 2021

ETH breaks all-time high amid fresh price surge

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Ethereum, crypto’s second largest asset by market cap, has broken its previous all-time price high near $2,041 , set on February 19, 2021. Ethereum (ETH) hit a record price high of approximately $2,081 today, according to TradingView data. ETH trades near $2,067 at time of publication. Since its February high, ETH has corrected twice on its daily chart, posting a higher low on the second correction. In the days after its $2,041 summit, the asset dropped down to about $1,293. ETH recovered up to about $1,943 by March 13 before falling…

Morgan Stanley Adds Bitcoin to 12 Mutual Funds’ Investment Strategies – Finance Bitcoin News

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Morgan Stanley has filed with the U.S. Securities and Exchange Commission (SEC) to add bitcoin exposure to 12 of its mutual funds’ investment strategies. These mutual funds may invest in bitcoin futures as well as obtain indirect exposure to the cryptocurrency through investments in Grayscale Bitcoin Trust, the filing details. Bitcoin Exposure for 12 Morgan Stanley Mutual Funds Morgan Stanley Institutional Fund Inc., the asset management division of Morgan Stanley, filed a statement of additional information supplement with the U.S. Securities and Exchange Commission (SEC) on Wednesday. The purpose of…

Recent Decline in Bitcoin (BTC) Volatility Is Turn-on to Institutional Investors

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JPMorgan highlighted that Bitcoin is becoming more appealing to institutional investors who are seeking low-correlation assets to diversify their investment portfolios.  JPMorgan Chase & Co (NYSE: JPM) in a note to clients on Thursday noted that a recent decline in Bitcoin (BTC) volatility could boost its adoption by institutional investors. A boost in institutional adoption of bitcoin is “likely to arise from the recent change in the correlation structure of bitcoin relative to traditional asset classes,” the bank explained. Institutional investors are likely to adopt Bitcoin as an alternative to…

Bitcoin Price Surge Could Be Fueling Interest in Digital Yuan, Says PBOC

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China’s central bank, the People’s Bank of China (PBOC) has stated there is increased interest in its upcoming central bank digital currency (CBDC) project, and this could be partly due to the recent surge in bitcoin price.  Bitcoin Possibly Responsible for Digital Yuan Interest According to CNBC on Friday (April, 2, 2021), Wang Xin, the research bureau director at the PBOC believes that more people are becoming aware and paying attention to its digital yuan project, indicating a “very strong interest” in China’s upcoming CBDC project. The PBOC official stated…

1 Bitcoin Transaction Requires 75 Gallons of Gasoline

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Ripple CEO Brad Garlinghouse said performing a single Bitcoin transaction requires burning 75 gallons of gasoline. This shocking statistic gives a degree of the scale of Bitcoin’s possible environmental impact. Bitcoin Gets a Thumbs Down From Environmentalists It emerged recently that Bitcoin’s annual energy consumption currently matches that of a mid-sized country, with Argentina given as an example. Garlinghouse said Bitcoin’s proof-of-work consensus model ensures the problem will get worse as the network grows. This is because rising price correlates positively with energy consumption, as more miners join the network…

The State of ETHEREUM Mining February 2021

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Crypto funds batting .000 against SEC

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With more than 35 million customers, $21 billion in revenues and $3.8 trillion in discretionary managed assets, Fidelity Investments is one of the largest investment management companies in the world. It may need all its heft to break the losing streak of crypto-fund sponsors that have gone up against the United States Securities and Exchange Commission. As reported, Fidelity filed with the SEC on March 24 a preliminary registration statement on behalf of its Wise Origin Bitcoin Trust — an exchange-traded fund that would track the performance of Bitcoin as…

Chainlink releases native Substrate module to bring its oracles to Polkadot

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Polkadot and Chainlink have announced the release of Chainlink’s Price Feeds as a module, or “pallet” in Polkadot terminology, for the Substrate blockchain framework. The release means that any project building on the Substrate framework — which includes Polkadot and Kusama parachains, as well as independent blockchains — can integrate Chainlink oracles through a simplified library. The announcement comes as the latest result of a long-standing collaboration between Chainlink and Polkadot, now offering a tangible product that can enable a number of DeFi-centric use cases on Polkadot. The integration as…

Coinbase IPO Set for April 14 via Direct Listing on Nasdaq – News Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has greenlighted Coinbase’s initial public offering via a direct listing on Nasdaq, the company has confirmed. Coinbase’s IPO is set to debut in two weeks, on April 14. Coinbase IPO to Debut in 2 Weeks Coinbase Global Inc. announced Thursday that the U.S. Securities and Exchange Commission (SEC) has declared its registration statement relating to its initial public offering (IPO) effective. The company has also set a date for its IPO, stating: Coinbase anticipates that its Class A common stock will begin trading…