Day: November 3, 2023

CME Bitcoin futures hit record high, but uncertainty looms above $36K

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Bitcoin futures open interest at the Chicago Mercantile Exchange (CME) hit an all-time high of $3.65 billion on Nov. 1. This metric considers the value of every contract in play for the remaining calendar months, where buyers (longs) and sellers (shorts) are continually matched.  Bullish momentum on CME Bitcoin futures, but cautious BTC options markets The number of active large holders surged to a record 122 during the week of Oct. 31, signaling a growing institutional interest in Bitcoin (BTC). Notably, the Bitcoin CME futures premium reached its highest level…

DeepMind co-founder chides Elon over UK AI summit comments: ‘He’s not an AI scientist’

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World-renowned AI scientist Mustafa Suleyman appears to disagree with Elon Musk’s assessment of the threats and benefits AI technologies could pose in the future. Mustafa Suleyman, the CEO of Inflection AI and co-founder of Google’s DeepMind, had some strong words for Elon Musk during a post-event interview with the BBC after the recent United Kingdom artificial intelligence (AI) summit concluded on Nov. 2. As Cointelegraph reported, Musk leaned into his penchant for sensational commentary during an interview with U.K. Prime Minister Rishi Sunak at the close of the two-day event.…

With Bitcoin’s halving months away, it may be time to go risk-on

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More tradition than coincidence, the Christmas season is around the corner again and the market is looking good for yet another run. Bitcoin (BTC) surged to more than $35,000 in October, another record high for 2023. The year-long rally has been attributed to unconventional market trends, including excitement over the Bitcoin spot ETF applications pending with the Securities and Exchange Commission. If, like me, you’ve been in the crypto space since 2014, you’d agree that the holiday season comes with a euphoric feeling — especially this year. Everyone seems to…

XRP And Shiba Inu Rally Is Not Over According To This Indicator

The crypto industry saw a spectacular run in October, as a few cryptocurrencies like Bitcoin and Solana registered new yearly highs. However, the entire market seems to be taking a breather after this action-packed October that saw Bitcoin, XRP, and Shiba Inu lead impressive rallies.  On-chain data, particularly from the crypto analytics platform Santiment, showed October ended on a somehow bearish note. But history from this particular metric suggests that the rally might not be over.  XRP And Shiba Inu Rally Not Over The first few days of November appear…

Hong Kong Fintech Week introduces the world to HSBC DID solution and commemorative NFTs

On Nov. 2, the Hong Kong Monetary Authority (HKMA) co-organized the eighth edition of the city’s flagship event alongside InvestHK. At the event came several releases including HSBC prototyping a Decentralized Identity (DID) solution using Polygon ID and the release of a 30th anniversary commemorative NFT from the HKMA.  Building for digital identities  In a follow-up post on the Polygon website, more information about the DID solution and its use cases are brought to light, including how it works. The post states that upon opening an account with HSBC, customers undergo…

88.5% of Bitcoin’s supply has not moved for three months

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Data shows that long-term Bitcoin (BTC) holders are still holding strong despite the modest price decline. According to a Nov. 2nd tweet by crypto fund founder Dylan LeClair, 88.5% of the total Bitcoin supply has not moved in over three months. This indicates that the majority of Bitcoin holders are not selling their coins. The hilarious thing is that 88.5% of the #bitcoin supply hasn’t moved in the last three months. Wall Street is gonna have to really pump this thing to get hodlers to part with their coins. $BTC…

Can Dogecoin Rally 135%? Here’s What Needs To Happen

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In a recent analysis, crypto analyst Rekt Capital has pinpointed the signs of a potential breakout in the Dogecoin (DOGE) price, which could pave the way for a significant price rally. However, several factors must come together for this scenario to unfold. Dogecoin Price Ready For A Breakout? Rekt Capital has shared the following 1-week DOGE/USD chart. According to his analysis, Dogecoin’s price movement has been confined within a descending channel pattern since its peak at the end of last year. This pattern is characterized by two parallel trendlines, representing…

Boba Guys, Shopify users showcase adoption of Web3 tools — Solana Breakpoint

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Web3 tools powered by layer-1 blockchain Solana are driving tangible returns and delivering deep customer data insights, according to prominent mainstream brands and companies that attended Solana Breakpoint. The four-day conference in Amsterdam attracted a wide variety of businesses and projects from Web2, Web3 and traditional backgrounds. A prominent takeaway was the adoption of Solana-based tools and services, innovating payments and loyalty programs. Boba Guys, a growing United States-based bubble tea brand in the mold of Starbucks, unpacked how its pilot program for a new customer loyalty app delivered insightful…