Day: February 5, 2023

72% of Institutional Traders Surveyed ‘Have No Plans to Trade Crypto’ – Featured Bitcoin News

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A new survey by JPMorgan Chase shows that 72% of institutional traders “have no plans to trade crypto” while 14% plan to trade cryptocurrencies within five years. Institutional traders also expect “recession risk” to have the biggest impact on markets in 2023. JPMorgan’s Institutional Trader Survey Global investment bank JPMorgan Chase published the results of its annual “e-Trading Edit” survey on Thursday. Conducted in January, the survey provides “insight into predictions for the year ahead,” the bank said, adding that 835 institutional traders in 60 global locations participated in the…

a16z votes against proposal to deploy Uniswap V3 on BNB Chain

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Venture capital firm Andreessen Horowitz (a16z) voted against a final proposal to deploy Uniswap V3 on the BNB Chain using the Wormhole bridge, shows the Uniswap DAO forum.  The governance proposal to deploy the latest Uniswap iteration on the BNB Chain was submitted on Feb. 2 by 0xPlasma Labs on behalf of the Uniswap Community, after passing a temperature check with 20 million (80.28%) votes for yes, and 4.9 million (19.72%) votes for no. The venture firm used its 15 million UNI holding against the move. At the time of…

Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

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Alfa-Bank, one of the major Russian banking institutions, has established its own platform for digital financial assets. The launch became possible after Russia’s monetary authority added Alfa-Bank to its register of digital asset issuers this week. Privately-Owned Alfa-Bank Sets Up Digital Asset Platform With Central Bank’s Permission Russia’s Alfa-Bank has launched ‘A-Token,’ a platform allowing the issuance of digital financial assets (DFAs), the business news portal RBC reported, quoting its Director of Innovation Denis Dodon. The bank was able to do so after the Bank of Russia announced its registration…

Market Strategist Predicts Gold Will Be the Top Performer in 2023 Over Cryptocurrencies and Equities – Bitcoin News

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Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview published Thursday, Soloway emphasized his belief that “gold will be the best performer” this year and stated that the U.S. Federal Reserve will not cut rates until a “massively nasty recession” occurs. Gold to Outperform Major Assets in 2023: Strategist Gareth Soloway’s Market Prediction Many analysts, market strategists, and economists are making predictions about asset prices and performances in 2023. Some predict that gold and cryptocurrencies will…

FTX seeks to claw back political donations by the end of February

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FTX’s new management is seeking to recover political donations made by Sam Bankman-Fried and other FTX executives until February 28, according to a statement disclosed on Feb. 5.  The move is part of bankruptcy proceedings and an effort to repay the crypto exchange creditors. According to FTX attorney Andy Dietderich, the defunct firm has “recovered $5 billion in cash and liquid cryptocurrencies” by Jan. 11. Total liabilities amount to nearly $9 billion. As noted in the statement: “FTX Debtors are sending confidential messages to political figures, political action funds, and…

Bitcoin, Ethereum and select altcoins set to resume rally despite February slump

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After the impressive rally in January, Bitcoin (BTC) seems to be taking a breather in February. This is a positive sign because vertical rallies are rarely sustainable. A minor dip could shake out the nervous longs and provide an opportunity for long-term investors to add to their positions. Has Bitcoin price bottomed? The opinion remains divided, however, on whether Bitcoin has bottomed out or not. Some analysts expect the rally to reverse direction and nosedive below the November low while others believe the markets will continue to move up and…

Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High – Markets and Prices Bitcoin News

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The meme coin economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme coin by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba inu, has jumped 71.9% in 30 days. Since Jan. 9, 2023, the overall value of the meme token economy has increased by $5.8 billion. Dogecoin and Shiba Inu Dominate Meme Coin Market With 94% Market Share The top meme coins by market capitalization have gained in value against the U.S. dollar…

Visa’s crypto strategy targets stablecoin settlements

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Payment company Visa is seeking to build a “muscle memory” to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company’s head of crypto division Cuy Sheffield at the StarkWare Sessions 2023. “We’ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC (USDC) on Ethereum. So, these are large value settlement payments.”, noted Sheffield in a fireside chat at the event. Cointelegraph’s team is on the ground in Tel-Aviv covering…

NFT Market Remains Resilient With 1.23% Increase in Sales, Ethereum Dominates With 81% of Total NFT Settlements – Bitcoin News

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Non-fungible token (NFT) sales rose slightly last week, increasing 1.23% to $232.49 million in recorded sales. The top two NFT collections, Otherdeed and Doodles, saw growth of 44% to 58% compared to the previous week. Ethereum continues to dominate the NFT industry, accounting for more than 81% of total sales last week with $188.51 million in NFT sales. 7-Day NFT Sales Increase; Otherdeed, Doodles See 44% to 58% Growth NFT sales remain steady this week and during February 2023, with $39.72 million in recorded sales so far this month. Over…