Day: October 24, 2023

Experts Reveal Drivers of Bitcoin’s Rally and Potential BTC Price Targets

Bitcoin (BTC) has established strong support between $25,000 and $30,000. Take a look at the next key resistance. The price of Bitcoin has been steadily rising since October 13, following its inability to break the support level of around $26,000. Since then, it has continued to climb, reaching $35,000 earlier today, a level not seen since May 2022. The move from the support level to $35,000 represents a price increase of over 30% in just two weeks. The BTC rise has boosted the hopes of many investors, with some believing…

Matrixport Makes New Bitcoin (BTC) Price Prediction for 2023 amid Widespread FOMO

Matrixport says BTC price may even hit the $56,000 mark by the end of the year. Earlier in the year, crypto financial services company Matrixport had predicted that the $45,000 mark would be the maximum limit to BTC price surge in 2023. However, the firm is now revisiting the old prediction as a lot has changed since that time. Citing what the Bitcoin market calls the Fear of Missing Out (FOMO) among other factors, Matrixport says BTC price may even hit the $56,000 mark by the end of the year.…

ETF Expert Predicts All Spot Bitcoin ETFs Will Get Approval at Same Time

BlackRock’s iShares Bitcoin Trust gets listed on the Depository Trust & Clearing Corporation (DTCC), however, analyst predict all approvals to happen at once. As the crypto community gears up for the arrival of the first spot Bitcoin ETF in the coming months, analysts have been sharing interesting predictions ahead. Expert in crypto ETFs Stuart Barton, the Chief Investment Officer of Volatility Shares, anticipates that all spot Bitcoin exchange-traded fund (ETF) applications submitted to the US Securities and Exchange Commission (SEC) might be approved simultaneously. Notably, Barton’s company, Volatility Shares, achieved…

US SEC Approves Grayscale’s Ethereum ETF Filing

Initially submitted on October 2, 2023, the proposal aims to convert the Grayscale Ethereum Trust, the largest Ethereum investment vehicle globally, into an ETF.  In a recent turn of events, the US Securities and Exchange Commission (SEC) has approved Grayscale Investments’ application for a spot Ethereum (ETH) exchange-traded fund (ETF). Sharing the news on Tuesday, Nate Geraci, President of The ETF Store, announced on X (formerly Twitter) that the SEC has officially acknowledged the filing for the potential conversion of the Grayscale Ethereum Trust (ETHE) into an ETF. SEC has…

Okta Shares Plummet, Market Cap Down $2B Following Alarming Cybersecurity Breach

The recent incident is not the first security issue Okta has encountered. In the past, there have been several incidents involving Okta or its products. Okta Inc (NASDAQ: OKTA), a major provider of cybersecurity solutions for corporate enterprises, businesses, and government organizations, is currently grappling with the aftermath of a severe security breach that has led to a staggering loss of over $2 billion in its market valuation. According to CNBC, the company’s shares plummeted more than 11% on Friday in immediate response to the breach. The downward trajectory continued…

BTC Drive by Institutions Sends Open Interest on Chicago Mercantile Exchange to Record High

The breakout above the $31,800 resistance level coincided with a drop in open interest, a metric that assesses the notional value of all derivatives positions, across crypto exchanges, according to Coinalyze data. The decline, which reflects retail investor interest, contrasts with open interest on the Chicago Mercantile Exchange (CME), a venue favored by institutions, topping 100,000 bitcoin ($3.4 billion) for the first time. Source

XRP Near 12% Rally Strengthens Case For $0.55 Breakout

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XRP  is currently experiencing strong short-term bullish momentum and market sentiment. However, the cryptocurrency faces a formidable hurdle at the $0.55 resistance level, a barrier that has thwarted multiple attempts at a substantial recovery over the past couple of months. The question on everyone’s mind: can XRP overcome this crucial obstacle? In recent months, the XRP price has exhibited a sideways trend, primarily oscillating between the horizontal levels of $0.55 and $0.458. While the daily chart reveals significant price fluctuations, traders have struggled to make any substantial progress in either…

Parity Technologies Let Go 30% Employees to Sharpen Focus on Polkadot Core Tech

Recent reports also suggest that a significant number of employees were laid off earlier this month, with sources indicating that approximately 300 people lost their jobs. Parity Technologies, the prominent blockchain infrastructure company supporting the Polkadot network, has unveiled a significant restructuring plan that includes a 30% (around 100 people) reduction in its workforce. This strategic overhaul is designed to refocus the company’s efforts on strengthening its fundamental blockchain and cryptocurrency technologies that underpin the Polkadot platform. The staff reductions will primarily impact departments like marketing and business development. Polkadot…

PEPE Memecoin Burns $5.5M Tokens Prompting 31% Rise

“A new team of advisors have been brought on to guide Pepe forward,” a post on the pepe X (formerly Twitter) account said. “Uses for the remaining 3.79T tokens attributed to the original team CEX multi-sig wallet for strategic partnerships and marketing opportunities are currently being explored.” Source

MangoBoost Raises $55M in Series A Funding Round, Aims to Compete in DPU Market

According to the startup, it will use the newly raised funds to improve its DPU hardware and software solutions. MangoBoost, a data processing units (DPU) developer, has raised $55 million in a Series A funding round. This brings its total raise, so far, to $65 million. Though it did not share its valuation, with the new funding, inside sources estimate that the company is now valued at around $300 million. MangoBoost to Use Fund to Enhance DPU Solutions According to the startup, it will use the newly raised funds to…