Day: August 2, 2023

U.S. Spot BTC ETF Approval Likelihood Raised to 65% by Bloomberg Analysts

Several major institutions, among them BlackRock, Fidelity, WisdomTree and Valkyrie, have in recent months filed applications for a spot bitcoin ETF to make investing in bitcoin more accessible. While the Securities and Exchange Commission (SEC) has in the past rejected such applications, many experts say there is a good chance that at least some of the applications will get approved, especially that of BlackRock, which has rarely been denied an ETF application in the past. Source

Bitcoin Funding Rates Most Positive Since Feb, Long Squeeze Soon?

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Data shows that Bitcoin funding rates have risen to the greenest levels since February 2023, something that could increase the risk of a long squeeze. Bitcoin Funding Rates Are At Highest Levels Since February As pointed out by an analyst in a CryptoQuant post, longs have accumulated in the market recently. The “funding rates” is an indicator that keeps track of the periodic fee that traders on the futures market are exchanging between each other right now. Related Reading: Bitcoin Addresses In Loss Soar To One-Month High Amid Mixed Market…

Crypto Hedge Funds Will Shake Up the Industry: Crypto Long & Short

A perk of my CoinDesk job is being able to speak with capital allocators – enjoying some access to the tip of the spear, so to speak, of institutional investment within the crypto landscape. Last week, I met with Jonathan Man, chief investment officer at Valmar Capital, an emerging U.S. cryptocurrency hedge fund. The company focuses on uncorrelated returns while implementing a multi-strategy, absolute-return approach. Source

Bitcoin (BTC) Venture Capital Is Anything but Boring: Crypto Long & Short

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The Segregated Witness soft-fork activated in 2017 was a technical prerequisite for the Lightning Network, which has in turn grown to a capacity that has unleashed a subsequent wave of innovation. Similarly, Taproot (activated in November 2021) sets the stage for another wave. Of note is Lightning Labs’ Taproot Assets Protocol (TAP), facilitating asset issuance directly on the Lightning Network. If successful, TAP would allow the multi-asset reality to not only exist natively on the Bitcoin stack but also inherit the Lightning Network’s speed, very low cost and settlement finality.…

Decentralized Web3 data service taps ZK-proofs for tamper-proof SQL queries

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Decentralized Web3 data service Space and Time has tapped into zero-knowledge proof (ZK-proof) technology to cryptographically verify information queries within its ecosystem. The company’s proprietary Proof of SQL allows the platform to generate a SNARK cryptographic proof of a query within its decentralized data network, allowing users to trust that a data query is accurate and has not been manipulated. Space and Time intends for the service to provide tamper-proof on-chain and off-chain data to blockchain services, advanced computing, artificial-intelligence and large language models. Space and Time co-founder Jay White told Cointelegraph…

Litecoin Undergoes Third ‘Halving,’ in Milestone for 12-Year-Old Blockchain

Litecoin, a “fork” or clone of Bitcoin, is sometimes affectionately referred to as “digital silver.” Both blockchains reward “miners” who process transactions and secure the network, with a reward – a combination of variable transaction fees and a predetermined “subsidy” that gets halved approximately every four years. (With Litecoin, they happen every 840,000 transaction blocks, and the average time to generate each block is about 2.5 minutes.) Source link

Uniswap Delists HEX Token After SEC Deems It An “Unregistered Security”

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Uniswap, the largest decentralized exchange, has removed the HEX token from its interface after it was recently declared an unregistered security by the United States Securities and Exchange Commission (SEC). This comes as another blow for the token in what has been an unpleasant week so far.  This unfavorable run has had an impact on the price of HEX, which is currently valued at $0.00486457. According to CoinGecko data, the token’s price has declined by more than 12% in the last day, as it continues in a downward trend. Uniswap…