Day: December 14, 2023

SpaceX Valuation Eclipse to $180B as Company Prepares to Sell Existing Stocks at $97 per Share

SpaceX is now one of the most valuable private companies in the world with a scalable business in the Starlink satellite internet sector among others. Elon Musk-backed Space Exploration Technologies Corp commonly referred to as SpaceX has seen its total valuation climb to as high as $180 billion, according to the latest estimates by Bloomberg. The space telecommunications company has continued to make waves despite the hostile environment between Musk and the current United States government led by President Joe Biden. Furthermore, SpaceX has launched more than 5000 satellites since…

JPMorgan: Ethereum to Outperform Bitcoin in 2024

This prediction made by JPMorgan comes in the antivipation of Ethereum’s EIP-4844 upgrade that is scheduled for the next year. JPMorgan experts suppose that Ethereum (ETH) will be able to outperform Bitcoin (BTC) and other crypto assets in 2024.  But despite this statement, the bank is generally “cautious” about crypto markets in the near future. JPMorgan analysts led by Nikolaos Panigirtzoglou wrote: “We believe that next year Ethereum will re-assert itself and recapture market share within the crypto ecosystem. The main catalyst is the EIP-4844 upgrade or Protodanksharding, which is…

Crypto fund inflows hit 2-year high; Bitcoin whales explore new crypto AI altcoin

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The frenzy surrounding the anticipated bull market peaked in late November as crypto fund inflows hit two-year highs. $346 million were recorded in net inflows, the largest since the last bull market in 2021. Amidst this, Bitcoin (BTC) and Ethereum (ETH) reached price levels last seen in 2022. Optimism around the approval of crypto spot ETF products can be linked to the current market upswing and surge in crypto…

SEC postpones deadline for decision on Invesco Galaxy spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed its review of Invesco Galaxy’s Ethereum (ETH) spot ETF. Setting a new deadline of Feb. 6, the SEC has pushed back the applications of a spot ETH ETF that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. “The 45th day after publication of the notice for this proposed rule change is December 23, 2023. The Commission is extending this 45-day time period.” SEC In September, asset managers Invesco and Galaxy Digital submitted a…

In Search of the Elusive Crypto Voter

On Monday, a New Hampshire state representative asked a mostly-filled room at an industry campaign event to raise their hands if they were visiting from another state. More than half the people in the room raised their hands. These visitors had come to hear from industry representatives, state lawmakers and – perhaps most importantly – three presidential candidates talk about the upcoming election. Source

SOL Price Resumes Rally, Here’s Why Solana Could Pump 20%

Solana stayed above the $65 support and started a fresh increase. SOL price is likely setting up for more gains above the $75 and $80 resistance levels. SOL price started a fresh rally above the $68 resistance before the bears appeared against the US Dollar. The price is now trading above $68 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair is up nearly 10%…

Ethereum Price At Make-Or-Break Moment, Decoding Key Hurdles To More Gains

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Ethereum price is recovering losses above $2,220. ETH could gain bullish momentum if there is a clear move above the $2,285 resistance zone. Ethereum started a fresh increase above the $2,180 and $2,200 levels. The price is trading above $2,220 and the 100-hourly Simple Moving Average. There was a break above a major declining channel with resistance near $2,215 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase if there is a close above $2,285 and $2,300. Ethereum Price Regains Strength Ethereum…

Fed pause is a ‘green light’ for investors; here’s what it means for crypto

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A decision from the United States Fed to pause and possibly lower interest rates next year will likely serve as a “positive boost” for cryptocurrencies and crypto stocks. In a Dec. 13 interview with Bloomberg, Blackrock fund manager Jeffrey Rosenberg described the Fed’s rate pause — and its hint at rate cuts next year — as a “green light” for investors, with the S&P 500 rallying 1.37% on the decision. “This bullish sentiment can go on for a while, at least until we get a new round of economic data,…

Gemini creditors revolt over ‘brutal’ Bitcoin slashing reorg plan

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Gemini Earn creditors are fuming over a proposed reorganization plan that could see their promised Bitcoin (BTC) payouts effectively slashed to about 30% of what they’re worth at current market rates. In an X post, Gemini Trust revealed it sent creditors an email on Dec. 13 outlining the proposed plan, which has now been put up for a vote. Under the proposed plan, creditors will receive a payout equal to their Earn crypto balances as of Jan. 19, 2023 — the date that Gemini’s cryptocurrency lending partner Genesis Global Capital…