Day: November 17, 2023

Bitcoin Rally To $37,000 Sparks Open Interest Surge

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An apparent increase in demand for safe-haven assets, rising interest in Bitcoin ETFs in the US, and anticipation of a more accommodating position from the Federal Reserve were the purported drivers of the cryptocurrency market’s recovery this year, which led to a significant gain in the value of Bitcoin. While the spot and futures markets for bitcoin were at the center of attention at first, options related to the cryptocurrency have recently come to the fore. By introducing a new facet to the market dynamics, these options give a convenient…

Bitcoin bull market FOMO absent as BTC price nears key $39K profit zone

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Bitcoin (BTC) bull market “FOMO” has yet to appear despite BTC price being up 120% this year. Data from the statistics platform Look Into Bitcoin shows that on-chain transactions are only starting to involve “younger” Bitcoin. Bitcoin bull market analysis: “We’re still early” Bitcoin remains near 18-month highs and well beyond its bear market trading range and several key resistance levels. While the number of smaller wallets is increasing, there has not been a major return to the network from speculators — those holding BTC for short periods of time.…

WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions

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The global exchange-traded fund (ETF) provider WisdomTree filed an amended Form S-1 spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16. The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE). The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving…

WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto crowd awaits SEC decisions

The global exchange-traded fund (ETF) provider WisdomTree filed an amended S-1 form spot Bitcoin (BTC) ETF prospectus with the United States Securities and Exchange Commission (SEC) on Nov. 16. The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by Chicago Board Options Exchange (CBOE). The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under a ticker symbol BTCW, with Coinbase Custody Trust serving as…

AI’s energy consumption concerns echo Bitcoin mining criticisms, says Heatbit founder

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Artificial intelligence (AI) and machine learning (ML) are demanding huge amounts of computing resources as interest in the space grows, but conventional Bitcoin (BTC) miners are not jumping on the bandwagon just yet. Speaking to Cointelegraph journalist Joe Hall at Web Summit 2023 in Lisbon, Portugal, Heatbit founder Alex Busarov believes that mining farms, data centers and small-scale computing power providers are far more clued up on Bitcoin mining than the nascent AI and ML infrastructure space. Alex Busarov at Web Summit 2023, with a Heatbit Bitcoin-mining heater strapped to…

Mastercard See No Justification for Central Bank Digital Currencies Yet: CNBC

The payments giant has a CBDC Partner Program that includes participants such as Ripple, Fireblocks and Consensys. The move was designed to encourage conversations among key players in the industry, but was seen as a way for Mastercard (MA) to deepen its involvement with CBDC developments as the number of nations exploring the technology grows. As many as 130 countries, representing 98% of global gross domestic product, are exploring a CBDC, according to the Atlantic Council. In May 2020, only 35 countries were considering one. Still, only 11 countries have…

Coinbase Commerce Revolutionizes Onchain Payments with Product Updates

The platform includes a Coinbase Commerce button which allows merchants to easily accept payments for goods, services, and donations. In a groundbreaking move towards enhancing the user experience in onchain payments, Coinbase Commerce has unveiled a comprehensive set of product updates. This development, announced in a recent blog post, is set to address the challenges posed by cryptocurrency volatility, making onchain payments more accessible and seamless for thousands of global merchants. Coinbase’s Onchain Payment Protocol Central to the update is the introduction of the Onchain Payment Protocol, a universal standard…

“Uptober” Takes Crypto Exchanges to 4-Year Highs

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This year’s cryptocurrency “Uptober” did not disappoint and benefitted the largest cryptocurrencies and centralized exchanges. Bitcoin’s (BTC) nearly 30% increase drove retail trader activity, impacting a significant growth in spot volumes among the TOP 10 exchanges. On average, volumes grew 54% in October compared to September. According to data collected by Finance Magnates Intelligencer, the total volume increased month-over-month (MoM) $153 billion, bouncing back from the worst month since the beginning of 2023. October has historically been one of the best months for cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies,…

EigenLayer Launches Stage 2 Testnet for Validators and Restackers

As part of the Stage 2 testnet launch, operators can now register to the network and commence validation for the first App-Verified State (AVS) – EigenDA. EigenLayer, a leading blockchain protocol, has officially launched the Goerli testnet for EigenDA, signaling a significant advancement in its development journey toward the complete EigenLayer vision. The release of Stage 2 follows the successful introduction of restaking on the mainnet Ethereum in June, which saw a robust response from the community. Security-focused jumps in Total Value Locked (TVL) caps have resulted in an impressive restaking of…