Day: October 18, 2023

Bitcoin Nearly Hits $29K Following Fidelity Amendment of Spot Bitcoin ETF Proposal

Bitcoin is enjoying price spikes and increased trading volumes as Fidelity and others amend proposals while the market awaits an approval. The price of Bitcoin (BTC) hit $28,817 today in response to amendments to spot Bitcoin ETF applications submitted to the United States Securities and Exchange Commission (SEC). However, as of this writing, Bitcoin has fallen to $28,379 according to data from CoinMarketCap, a 4.3% increase over the last 7 days. The initial increase put Bitcoin at a new two-month record and a 7% weekly gain. Fidelity Amended its spot…

How high can Bitcoin price go by 2024?

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Bitcoin (BTC) is up over 70% so far in 2023, helped by a banking crisis and hopes about a spot BTC exchange-traded fund (ETF) approval in the United States. BTC/USD daily price chart. Source: TradingView So, will Bitcoin price continue to climb for the rest of 2023? Cointelegraph takes a look at its chances and possible BTC price targets. Related: BTC price models hint at $130K target after 2024 Bitcoin halving 2020 Bitcoin price fractal eyes $50K Bitcoin’s ongoing market trend looks very similar to its price action during the 2017…

Scroll Launches zkEVM Mainnet | Blockchain News

On October 17, 2023, Scroll, an open-source, community-centric Ethereum scaling solution, unveiled its mainnet, marking a pivotal stride towards augmenting scalability and propelling developer adoption on the Ethereum blockchain. This comes after two years of extensive development and stringent testing, utilizing zero knowledge (zk) proofs to offload computation from the primary blockchain, thereby addressing the challenges of rising network traffic and costs on Ethereum due to its burgeoning user and project base. Scalability Unleashed Employing zk proofs, Scroll has innovated a mechanism that significantly boosts transaction throughput, by expediting transaction…

ECB’s Digital Euro CBDC Project Moves to ‘Preparation’ Phase

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U.S. Sanctions Gaza Crypto to Squeeze Hamas

Buy Cash , previously tied to wallets seized by Israel’s National Bureau for Counter Terrorist Financing in 2021, is accused of “having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Hamas,” according to the Treasury. The business included bitcoin among the assets in which it dealt. Source

What’s Behind The Price Meltdown?

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Shiba Inu (SHIB) has recently experienced a dramatic decline in its burn rate. This plunge, amounting to a staggering 90.57%, comes at a time when the SHIB token is facing a sharp drop in its market price.  Typically, lower token prices present more extensive opportunities for token burning as it becomes more affordable to acquire additional SHIB tokens for the purpose of destroying them. However, it appears that the prevailing negative sentiment in the market is dampening the burn attempts. At the time of writing, the SHIB token is trading…

Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year

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The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. Mike Novogratz says that could come as soon as this year. The CEO of Galaxy Investment Partners, which has its own application for a spot bitcoin ETF in partnership with Invesco in the SEC’s queue, told CNBC Wednesday that the tone has shifted and things are looking up for crypto investors. “It’s going to get approved,…

U.S. Crypto Regulatory Fog Keeps STAN Rooted in UAE, Asia

It’s a step-by-step process for Standard Chartered, starting in Dubai, but with an eye on the bank’s strong presence across Asia, Africa and the Middle East. “The good thing is DIFC Dubai International Financial Centre allows us to offer services all over the world, technically speaking,” Chaudry said. “So if we have jurisdictional equivalence, and our license allows us to get clients on-boarded from other parts of the world, then we will do so in the interim, until we can actually deploy a local offering into that country.” Source