Day: December 22, 2023

BONK Crashes 15% After A Solid Month

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BONK has encountered a challenging period following its recent peak at an all-time high of $0.00003, which occurred just this past Wednesday. Since reaching this pinnacle, the price has undergone a significant decline, plummeting by more than 50%. This notable downturn has raised concerns within the market, emphasizing the urgency for buyers to re-enter the scene promptly. The next moves by buyers will play a pivotal role in determining the trajectory of BONK’s price action. BONK: Meme Coin’s Price Rollercoaster Ride At the time of writing, the meme coin was…

ARK Invest continues Coinbase sell-off, surpassing $200m in December sales

ARK Invest, headed by Cathie Wood, offloaded an additional 80,118 shares of Coinbase, valued at $13.5 million, from two of its investment funds, coinciding with the stock’s ongoing surge in December. On Dec. 21, ARK Invest sold 68,769 Coinbase shares valued at $11.6 million from its Innovation ETF and 11,349 shares worth $1.9 million from its Next Generation Internet ETF. With the recent sale of $30 million in Coinbase shares earlier this week, combined with the $108 million and $59 million worth of shares sold in the first and second…

El Salvador Attracts Foreign Bitcoin Investors with Citizenship Offer

The legislative overhaul attracts the philanthropic foreigners keen on contributing to the economic, social, and cultural development of El Salvador through Bitcoin donations. In a recent development, the Legislative Assembly of El Salvador has reportedly approved a migration law that facilitates expedited citizenship for foreigners contributing Bitcoin (BTC) donations to government social and economic development programs. The reform, endorsed by Nayib Bukele’s New Ideas party, passed through the country’s legislature on December 21, as reported by Reuters. The new law is also anticipated to take effect in the coming days.…

Elon Musk’s X to Roll Out Payment Services by Mid-2024

With X now obtaining payment licenses across a dozen states in the United States, Musk said the app is ready to start its payment services come 2024 at an undisclosed date.  Billionaire tech entrepreneur Elon Musk, CEO of Tesla and SpaceX, recently disclosed that his social media platform, X, will launch its in-app payment services by mid-next year. Musk shared the news during a space conversation with Cathie Wood, CEO of ARK Invest, on December 21. The discussion covered various topics, including artificial intelligence (AI) and Bitcoin (BTC). Looking forward…

FTX and Alameda transferred over 13m SOL in the last two months

Bankrupt companies FTX and Alameda have transferred millions of Solana (SOL) tokens over the past two months. According to Spot On Chain, the two firms transferred 13.22 million SOL to the exchange between Oct. 24 and Dec. 14, 2023. The bankrupt exchange additionally possesses another 2 million SOL that can liquidated in the event of a sale. The token has no max supply and is instead governed by a fixed year-on-year inflation rate, with tokens unlocking on specific dates. 🔥🔥 $SOL is up ~17% in 24 hours and flips $BNB…

Solana Price Rallies to $100 Unseating BNB Coin for Fourth Spot

During the recent rapid surge in Solana’s value, significant players appear to have been offloading their holdings. The mega rally in Solana continues as the SOL price rallies another 18% moving closer to $100 earlier today. With this, the Solana price gains on the monthly chart have extended beyond 75% thereby unseating Binance’s native BNB Coin for the fourth spot. Earlier today, the Solana market cap reached a high of $41.9 billion, while surpassing that of BNB. Just one day prior, on December 21, Solana exceeded XRP in market capitalization,…

Coinbase Secures VASP License in France as It Continues Expansion in Europe

Coinbase has officially received a license in France and can offer French users trading, custody, and several other related crypto services. Major American crypto exchange Coinbase Global Inc (NASDAQ: COIN) has officially registered as a virtual asset service provider (VASP) in France. The exchange is fully permitted to handle crypto services in the countries, allowing it to continue its expansion into Europe. Users in France can now buy or sell supported cryptocurrencies in legal tender or against other crypto assets, as well as use retail and institutional services, including custody. According to…

El Salvador Congress green lights citizenship for investments in BTC

The El Salvadoran Congress has approved a law to speed up the citizenship acquisition for those who make donations in Bitcoin (BTC). El Salvador’s Congress, with backing from President Nayib Bukele’s New Ideas party, has passed a migration law that offers fast-tracked citizenship to foreigners who contribute to government social and economic programs through Bitcoin donations. This unexpected decision, made in a late-night vote by the unicameral legislature on Dec. 21, is expected to come into enforcement in the coming days, per a Reuters report. However, the law does not…

SOL becomes 4th in market cap, overtaking BNB

Solana (SOL) token has surpassed BNB from the Binance cryptocurrency exchange in terms of market capitalization. SOL’s capitalization reached $41.724 billion, and BNB’s capitalization was $41.721, according to CoinMarketCap. However, Solana’s trading volumes are more than three times higher than BNB’s in the last 24 hours. The price of SOL has increased by 78% over the month and by 15% in the last 24 hours amid rapid growth in market capitalization. On Dec. 20 the token overtook Ripple’s XRP in market capitalization and broke into the top 5 of the…