Day: November 29, 2022

Why Cathie Wood thinks bitcoin will still hit $1 million by 2030 and benefit from the FTX collapse

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Cathie Wood’s $1 million bold call on bitcoin surprised many on Wall Street amid the fallout in the crypto industry, and here’s how the investor came up with the prediction. The ARK Invest chief sees the world’s largest cryptocurrency hitting about $1.3 million by 2030, benefitting from the FTX turmoil, she said during the latest CNBC PRO Talks installment with Dominic Chu . “If anything, we think this cycle has benefited bitcoin,” Wood said. “Sam Bankman-Fried didn’t like bitcoin…. Because it couldn’t be controlled. It was decentralized, open, transparent the…

EIB settles €100 million digital bond on private blockchain

According to a new press release on Nov. 29, the European Investment Bank, or EIB, issued a first-ever euro-denominated €100 million digital bond on a private blockchain-underpinned platform with tokenization help from Goldman Sachs. The latter, along with Société Générale Luxembourg, also act as the on-chain custodians for the financial instrument. The bond bears interest at a coupon rate of 2.57% per year with a maturity date of Nov. 29, 2024, and is governed by Luxembourger laws.  Banque de France and the Banque Centrale du Luxembourg participated in the project…

Bitcoin capitulation 4th-worst ever as BTC hodlers lose $10B in a week

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Bitcoin (BTC) hodlers have capitulated more than at almost any point in Bitcoin’s history this month. Data from on-chain analytics firm Glassnode confirms that the November 2022 BTC sell-off was the fourth-largest ever. Bitcoin investors see multi-billion-dollar losses In the latest edition of its weekly newsletter, “The Week On-Chain,” Glassnode got to grips with the impact of the FTX debacle on BTC investors. The results have been mixed, it reveals, with a major loss of confidence, on one hand, triggering loss-making divestment of funds, while “strong accumulation” has also occurred. For…

NFT Sales Jumped 22% Higher This Month With $568 Million in NFTs Sold Across 20 Blockchains – Markets and Prices Bitcoin News

Non-fungible token (NFT) sales have shown improvement during the last month as 30-day statistics show NFT sales are up 22.37% higher than the month prior. During the last seven days, NFT sales are up 5.13% higher than the week before. Additionally, over the last two days, the floor value of Bored Ape Yacht Club (BAYC) NFTs managed to jump above the floor value of Cryptopunks NFTs by more than four ethereum. NFT Sales Improved in November, Rising 22% Higher Than October’s Sales — BAYC Floor Surpasses Cryptopunks Roughly two weeks…

Not The 2018 Bear, Bitcoin Price Could Hit $20,000 In December

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The Bitcoin price rebounded off the low of its current range and retraced its weekend losses. The cryptocurrency might climb back to the previously lost territory, but uncertainty is king in the current market conditions.  As of this writing, Bitcoin is trading at $16,400. In the last 24 hours and last week, the price recorded a 2% and 4% profit, respectively. Other cryptocurrencies in the crypto top 10 are following, but Binance Coin (BNB) and Dogecoin (DOGE) are leading the bounce.  BTC’s price moving sideways on the daily chart. Source:…

South Korea’s unique and amazing crypto universe – Cointelegraph Magazine

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Maybe it’s the language barrier, or the walls authorities have set up to prevent money from leaving the country. But whatever it is, South Korea has built its own unique corner of the cryptoverse that’s unlike anywhere else on the planet. Doo Wan Nam, a MakerDAO delegate who co-founded the research and advisory firm StableNode, laughs as he describes how crazy the intense speculation and crypto gambling can get in South Korea. He says it’s a country where the price of stablecoins like Dai or USD Coin can sometimes trade…

How stable are stablecoins in the FTX crypto market contagion?

If early November’s FTX collapse was crypto’s “Lehman moment” — as more than a few pundits have suggested — will the FTX contagion now spread to stablecoins? After all, Tether (USDT), the market leader, briefly lost its United States dollar peg on Nov. 10. In normal times, this might have raised alarm bells. But, these aren’t normal times. In fact, in the days following FTX’s Nov. 11 bankruptcy filing, stablecoin “dominance,” i.e., the sector’s share of overall cryptocurrency market capitalization, increased to 18%, an all-time high. Bitcoin (BTC), Ether (ETH),…

Over 60% Of Dogecoin Holders Continue To Profit After FTX Crisis

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Total bitcoin market capitalization shows that the market is still plagued by fear, uncertainty, and doubt. Despite this, over 60% of Dogecoin holders are profitable, per CoinMarketCap data, in the midst of the current dip. The market has recovered in some aspects, albeit not fully, and investors are feeling confident about Dogecoin now than in recent days. An overbought relative strength index (RSI) suggests a possible market drop. Despite this, in the following few days, we should see a price that is above $0.1090. In addition to being bullish on shorter…