Day: November 10, 2023

CME tops Bitcoin futures OI as ‘real facts’ drive institutional uptake

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Bitcoin (BTC) faces a “torrent” of institutional inflows in the run-up to a United States exchange-traded fund (ETF) approval. That is the perspective of Dan Tapiero, founder and CEO of 10T Holdings, who has joined the bulls eyeing a sea change in institutional Bitcoin adoption. Tapiero: Mass capital inflows “about to hit” Bitcoin As excitement over the potential go-ahead for a U.S. Bitcoin spot price ETF grows, BTC price action has reacted in kind. As BTC/USD hit 18-month highs, meanwhile, institutional tides are already showing signs of shifting. Open interest…

47 countries pledge to authorize Crypto-Asset Reporting Framework by 2027

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Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), a new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10.  The Organisation for Economic Cooperation and Development (OECD) published the CARF in 2022. Developed from an April 2021 mandate from the G20, the CARF framework requires reporting on the type of cryptocurrency and digital asset transaction — whether through an intermediary or a service provider. The statement’s authors…

Cardano TVL outpaces Bitcoin’s, new token surging as Tether injects 1B USDT into Tron

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According to recent news, Cardano’s total value locked (TVL) surged, surpassing Bitcoin’s. Also, Tether has increased its USDT reserve on Tron with an additional 1 billion USDT. Meanwhile, a new project, Everlodge, continues to gain traction. Cardano TVL overtakes Bitcoin In Q3 2023, the Cardano ecosystem experienced rapid expansion, attributed to heightened developer activity and a positive market sentiment.  Cardano’s Total Value Locked (TVL) surged to $240 million, securing its position as the 11th most active blockchain. This spike also saw the project’s TVL rise to an all-time high.  The…

Peter Schiff is back with market crash prediction as Bitcoin nears $38k

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Euro Pacific Capital CEO Peter Schiff warns of a market crash as spot Bitcoin ETF front-runners are getting ready for imminent approval. The approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) is likely to result in a market “crash” as speculators will dump their positions once the ETF is approved. At least, this is how Euro Pacific Capital CEO Peter Schiff sees things to unfold further. In an X post on Nov. 9, Schiff attributed Bitcoin’s recent price surge to “speculators” who “continue to front run” a spot Bitcoin…

CME overtakes Binance to grab largest share of Bitcoin futures open interest

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Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months. A number of analysts highlighted the ‘flippening’ of Binance by CME, with the latter overtaking the global cryptocurrency exchange for the largest share of Bitcoin futures open interest. Wow, the real flippening that no one is talking about: CME just flipped Binance for the largest share of Bitcoin futures open interest. Bittersweet — there will soon be more…

Lightspeed Faction Unveils $285M Fund for Blockchain Innovation

Lightspeed Faction, a leading venture capital firm with a focus on blockchain, has announced the launch of a $285 million venture fund, according to PR Newswire. This fund is earmarked for early-stage blockchain projects, signaling a significant commitment to advancing crypto technologies. The newly established fund by Lightspeed Faction is poised to play a pivotal role in the blockchain sector. It aims to invest primarily in early-stage projects, offering not only financial backing but also expert guidance in areas such as tokenomics and business scaling. This initiative comes at a…

Solana Price Could Reach $1,000, Analyst Explains Why

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Crypto analyst Jacob Canfield has laid out a comprehensive analysis, suggesting Solana (SOL) could be on the brink of an unprecedented market surge. “In my opinion, I think that Solana is going to continue to be one of the biggest movers during this current bull market cycle,” Canfield states, proposing that Solana could potentially escalate its market dominance to the 12-15% range. Can Solana Hit $1,000? Canfield bases his analysis on several indicators. He highlights the Solana Dominance (SOL.D) chart, noting that at the peak market cap, it didn’t even…

Ethereum Fees Briefly Jumped to $100 After BlackRock’s ETH ETF Filing

Fees, as measured by median gas prices, spiked to as high as 270 gwei late on Thursday, temporarily touching a level last seen in June 2022. That pushed up costs of trading swaps to anywhere from $60 to $100 for a few hours. Gwei is a small unit of ether (ETH) equal to one-billionth of an ETH and is used to denominate gas prices. Gas refers to the fees Ethereum users pay to ensure their transactions are included in the earliest block by network validators. Source

Exploring platforms like Immediate Connect offering advanced crypto trading bots

Crypto trading can be dynamic, fast-paced, and competitive. As the market evolves, traders seek innovations to stay ahead of the curve and make informed decisions. This has led to the rise of crypto trading bots leveraging sophisticated algorithms and automation to execute trades, manage portfolios, and capitalize on market trends. Efficiency Among the primary advantages of using advanced crypto trading bots provided by companies like Immediate Connect is their efficiency. These bots can monitor market movements and execute trades at speeds and accuracy levels beyond human capabilities. Unlike human traders who need…

UBS Group’s Wealthy Clients Can Now Trade Some Crypto ETFs in Hong Kong: Bloomberg

In the past few days, Hong Kong has moved towards allowing retail investors to buy spot crypto Exchange Traded Funds (ETFs) and primary dealing of tokenization. The move appears to be another step in Hong Kong’s recently accelerated ambitions to become a virtual asset hub. It implemented a new regulatory regime in June, accepting applications for crypto trading platform licenses, and granted the first set in August, allowing exchanges to serve retail customers. Source