Day: August 30, 2023

Bull Run For Bitcoin If It Breaks This Level, Expert Addresses Elephant In The Room

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The Bitcoin price is on the move as bulls take over the market and reclaim previously lost territory. While the rally signals potential, BTC still needs to overcome significant resistance at higher levels.   As of this writing, Bitcoin (BTC) trades at $27,300 with a 5% profit in the last 24 hours. In the previous seven days, BTC recorded similar profits as other cryptocurrencies in the top 10 see gains for the first time in over two weeks. BTC’s price records some profits on the daily chart. Source: BTCUSDT on…

Grayscale’s Bitcoin ETF optimism bolsters crypto market sentiment

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Grayscale’s legal victory against the Securities and Exchange Commission (SEC) renews optimism for a US Bitcoin exchange-traded fund (ETF), boosting trading, investor sentiment, and overall financial markets. The crypto and wider crypto-related stock markets are relatively firm hours after Grayscale’s win against the Securities and Exchange Commission (SEC) at the District Court of Colombia. On Aug. 29, a trio of federal judges in Washington, effectively overturned the SEC’s decision to block Grayscale’s sport Bitcoin ETF rollout.…

Robinhood is fifth-largest Ethereum holder

Blockchain analytics firm, Arkham Intelligence, has identified Robinhood as the fifth-largest holder of Ethereum (ETH), holding approximately $2.54 billion, amid a reported decline in the exchange’s crypto trading volume. As data shows, Robinhood, primarily recognized for its equities trading services, is not just a significant player in the Bitcoin(BTC) arena, but also owns a massive amount of Ethereum (ETH). According to Arkham, Robinhood’s wallet ranks as the fifth largest in the world, holding an estimated $2.54 billion in ETH. This revelation adds another layer to the platform’s substantial crypto footprint.…

Gemini Opposes Genesis Bankruptcy Plan: ‘Woefully Light on Specifics’

“Debtors have repeatedly promised that a plan that resolves claims against DCG is right around the corner, as they seek extension after extension of mediation periods, hearing dates, and bid deadline,” the Gemini filing said. The harm to Gemini is worsened by the fact, it said, that DCG has “not paid any of the approximately $630 million in loans that came due to the Debtors in May 2023.” Source

Is SHIB Poised For New Heights?

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In a surprising turn of events, Shiba Inu (SHIB) experienced a brief consolidation break, reaching a 10-day high of $0.00000850, following the overall market uptrend on Tuesday.  This upswing was further fueled by Grayscale’s legal victory against the US Securities and Exchange Commission (SEC). However, Shibarium, the Ethereum layer-2 network backed by SHIB tokens, was the most significant catalyst for the newfound optimism.  Shibarium’s Resurgence Fuels Bullish Sentiment For SHIB Price Shibarium, the layer-2 blockchain explicitly designed for the Shiba Inu token SHIB, has achieved a significant milestone with a…

No, Bitcoin withdrawals from exchanges are not inherently bullish for crypto

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Crypto analysts on X (the social media platform formerly known as Twitter) and in YouTube interviews have been abuzz with talk about the trend of Bitcoin leaving centralized exchanges. On Aug. 29, the quantity of Bitcoin (BTC) held within exchanges saw a decline, reaching its lowest point since January 2018. While various factors might underlie this movement, experts analyzing blockchain data often interpret the shift as a positive indicator. Traders are now questioning what might have been causing Bitcoin’s inability to break above $31,000 since this price action doesn’t align…

Web3 Is a Game Changer in ESG Compliance

Nevertheless, the benefits of Web3 technologies in easing this transition period should not be underestimated. By providing a robust system for data verification, a system based on content-addressed data could mitigate potential fines companies may face for non-compliance. For the new EU regulations, if a company fails to carry out quality controls, it could be fined up to 4% of its total annual turnover. A 4% loss of total annual turnover is a significant deterrent, making the investment in Web3 technologies an economically sound decision. Source

BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

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Bitcoin led the cryptocurrency markets higher on Aug. 29 following Grayscale’s victory in the lawsuit against the United States Securities and Exchange Commission. However, the rally could not be sustained, as analysts cautioned that the victory did not guarantee the approval of a spot Bitcoin (BTC) exchange-traded fund. Still, the victory may prove to be bullish for Grayscale. Glassnode analysts said in an X (formerly Twitter) post on Aug. 30 that the Grayscale Bitcoin Trust (GBTC) could return to a premium next year. It is important to note that GBTC has been…