Month: March 2023

BTC Moves Briefly Back Above $25,000 – Market Updates Bitcoin News

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Bitcoin briefly moved back above $25,000 on Thursday, as markets rebounded from a volatile session the day prior. The potential collapse of Credit Suisse was somewhat averted, following an intervention from the Swiss National Bank, which has helped calm markets. Ethereum mostly consolidated in today’s session. Bitcoin Bitcoin (BTC) rose back above the $25,000 level in today’s session, as market volatility eased, as the Swiss National Bank moved to prevent a collapse of Credit Suisse. Following a low of $23,964.91 on Wednesday, BTC/USD rallied to an intraday peak of $25,240.62…

Is crypto a commodity or a security?

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The crypto industry waits anxiously for the decision of Judge Analisa Torres of the Southern District Court of New York on the Securities and Exchange Commission (SEC) versus Ripple Corporation case. Ripple owns the popular XRP crypto token, which is currently still in the Top 10 of Coinmarketcap.com, a popular token-tracking website. The SEC charged in December 2020 that “Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed…

Arbitrum to Airdrop New Token and Transition to DAO

Arbitrum worked with Nansen, the crypto analytics firm, to “snapshot” user activity in February in order to determine who should be eligible for ARB tokens. “How many transactions you did, how many different applications you used, and how long you’ve been using” Arbitrum One and Arbitrum Nitro were among the factors used to determine eligibility, according to Goldfeder. Source

Investors Pull Coins From Bitcoin Funds

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Bitcoin funds are bleeding coins even as U.S. bank failures fuel expectations of an early Federal Reserve pivot in favor of liquidity easing. Usually, if the Fed doesn’t raise rates aggressively like it has been doing, risky assets like bitcoin benefit, but the opposite is occurring with the bitcoin funds. Data tracked by ByteTree Asset Management shows the number of coins held by close-ended funds, spot and futures-focused exchange-traded funds in Europe, the U.S. and Canada has declined by 16,560 BTC ($409 million) this month, reaching a 17-month low of…

Successful Ethereum Shapella Testnet Beckons Long-Awaited Shanghai Mainnet Upgrade

Ethereum recently concluded its final dress rehearsal, dubbed Shapella, on the Goerli testnet en route to its mainnet upgrade. The Ethereum Shapella upgrade is on course for launch following its successful activation on the Goerli testnet. According to reports, this development is in the final phase before the upgrade goes live on the mainnet. With the Ethereum Shapella upgrade mainnet development, stakers can unstake their Ethereum (ETH) from the protocol. According to Ethereum developer Tim Beiko, the mainnet upgrade will happen next month following the Goerli forking. Beiko added that the fork is a requisite…

Cathie Wood’s Ark Invest Raises $16 Million for Another Crypto Fund

Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday, March 15, the filings submitted to the US Securities and…

FTX fiasco set back the approval of Bitcoin spot ETFs: Valkyrie investment chief

In episode 11 of Hashing It Out, Cointelegraph’s Elisha Owusu Akyaw speaks to Steven McClurg, the chief investment officer of Valkyrie Investments, about the state of Bitcoin (BTC) exchange-traded funds (ETFs) and the way forward. Regulators in the United States have mounted stiff opposition against listing Bitcoin spot ETFs even though Canadian and European regulators have given the green light. McClurg points out that even for the Canadian and European markets, these approvals also took a long time. According to McClurg, the two biggest issues U.S. regulators have with Bitcoin…

Bitcoin holders rapidly increase amid market recovery

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Investors are trooping into bitcoin (BTC) amid a perceived recovery campaign. BTC addresses holding at least 0.01 coins recently hit an all-time high value of 11.66 million. The total number of addresses has also increased to 45.14 million. On-chain intelligence resource Glassnode recently called public attention to the bullish development, sharing a chart to corroborate the metric. The chart reveals a gradual uptick in BTC addresses holding at least 0.01 coins. This uptick became even more apparent in late 2022.  Besides these smallholders, the number of BTC addresses holding at…