Day: December 19, 2023

BTC price bounces 5% as investor says Bitcoin ETF ‘99.9% done deal’

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Bitcoin (BTC) returned above $43,000 into Dec. 19 amid fresh news over the United States’ would-be first spot price exchange-traded fund (ETF). BTC/USD 1-hour chart. Source: TradingView Bitcoin ETF excitement still simmering Data from Cointelegraph Markets Pro and TradingView showed a BTC price recovery taking the market to local highs of $43,456 after the daily close. After starting the week on an uncertain footing, BTC/USD swiftly gathered strength, with the Dec. 18 candle closing over 5% above the day’s low. Later, news came that asset manager BlackRock, among the applicants…

Cathie Wood’s ARK Sells $28M Grayscale Bitcoin Trust Shares

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Coinbase, a16z, Ripple and Others Invest $78M in Pro-crypto PAC Ahead of US Elections 2024

With the mass adoption of digital assets in the United States, notable presidential candidates have shown support for the blockchain and crypto asset industries. The crypto market has faced immense regulatory scrutiny from the current US government led by President Joe Biden. The lack of a clear crypto regulatory framework has left significant room for the United States Securities and Exchange Commission (SEC) and other federal agencies to crack down on web3 companies with decades-old policies. However, the mass adoption of crypto assets and web3 protocols in the United States…

BlackRock pivots to cash-based redemptions in spot Bitcoin ETF proposal

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BlackRock, the world’s largest asset manager, is finalizing its spot Bitcoin exchange-traded fund (ETF) application, aligning with US financial regulators’ preferences for ‘cash creations’ for fund redemptions. Bloomberg’s senior ETF analyst Eric Balchunas shed light on this development on Dec. 19, following BlackRock’s filing a day earlier. BlackRock has gone cash only. That’s basically a wrap. Debate over. In-kind will have to wait. It’s all about getting ducks in row bf holidays. Good sign. https://t.co/vgocs1aIwS — Eric Balchunas (@EricBalchunas) December 19, 2023 Balchunas highlighted BlackRock’s transition to a cash-only approach,…

Bitwise Unveils Its Bitcoin ETF Ad Campaign as Approval Date Nears

Jonathan Goldsmith’s recent promotion of Bitwise coincides with the asset manager’s pending Bitcoin ETF application with the United States Securities and Exchange Commission. The broader crypto community has been eagerly awaiting the launch of a spot Bitcoin ETF and the SEC approval is very likely in early January 2024. A step further, the Bitwise Asset Management company has launched a new ad campaign in partnership with Jonathan Goldsmith. Actor Jonathan Goldsmith, renowned for portraying “The Most Interesting Man in the World” in Dos Equis beer commercials, is reprising his iconic…

Bitcoin getting close to $43k, further rally expected

Bitcoin (BTC) gained bullish momentum after witnessing a local low of around $40,500 on Dec. 18. Key indicator suggests further bullish momentum. BTC is up by 4.3% in the past 24 hours and is trading at $42,930 at the time of writing. The asset’s market cap currently stands at over $840 billion with a daily trading volume of $26 billion. BTC price, whale activity, open interest, Binance funding rate, and RSI – Dec. 19 | Source: Santiment According to data provided by the market intelligence platform Santiment, Bitcoin’s Relative Strength…

Injective (INJ) Rockets To Fresh ATH With 2,700% Surge

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Driven by heightened futures trading volumes and leverage, the price of Injective (INJ) has soared to unprecedented levels of around $38.49, marking a remarkable 2,700% surge year-to-date. Notably, within a single day, the native token of the decentralized finance (DeFi) platform Injective, exhibited resilience and potential, demonstrating a noteworthy increase of 24% in its value. In the context of the cryptocurrency market’s ever-changing dynamics, INJ has emerged as a standout performer, positioning itself as one of the top gainers amidst the series of surges and corrections experienced by leading tokens.…

Why a gold rush for inscriptions has broken half a dozen blockchains

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The latest degen “gold rush” to inscribe everything from profile pictures to memecoins has led to at least half a dozen blockchain networks cracking under pressure over the past week. The last few days have seen Arbirtrum, Avalanche, Cronos, zkSync, and TON all suffering partial or full outages recently due to inscriptions, with modular data availability network Celestia the latest to succumb, according to industry researchers who posted a screenshot of its block explorer on Dec. 18. Videos have also been posted of mass minting on the Celestia network. Screenshot…

SOL Price Soars 8%, Solana Indicators Suggest Breakout Above $80

Solana stayed above the $67.50 support and started a fresh increase. SOL price is gaining pace and might soon attempt a move above $80. SOL price started a fresh rally above the $72 resistance against the US Dollar. The price is now trading above $74 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair is up nearly 8% and might rally further above the $80…

‘Concerning precedent’ — bloXroute Labs’ MEV relays to reject OFAC blocks

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One of the largest producers of censorship-resistant blocks on Ethereum has made a complete u-turn, announcing it will start censoring OFAC-sanctioned blocks across all of its MEV relays in compliance with local laws. The firm, bloXroute Labs — which has produced at least 400,000 Ethereum blocks from its two leading Maximal Extraction Value (MEV) relays — made the announcement of its policy change on Dec. 18 in a post on X (formerly Twitter), noting:  “Effective immediately, all bloXroute relays will reject block bids if they contain OFAC transactions.” An “OFAC…