Day: January 2, 2024

Vitalik Buterin made $19m within week amid market enthusiasm

The total value of cryptocurrencies held by Ethereum co-founder Vitalik Buterin has increased by $19 million over the past week amid a broader resurgence in the digital asset markets. Data provided by blockchain analytics firm Arkham Intelligence shows that the balance of Buterin’s known crypto wallets rose from $561 million on Dec. 26 to $580 million on Jan. 2 — an increase of nearly 3.4%. The gains coincide with a spike in the price of Ethereum (ETH) and other major cryptocurrencies like Bitcoin (BTC). Vitalik Buterin’s crypto wallets’ value chart.…

3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving

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With the Bitcoin halving expected to happen today, crypto enthusiasts are already starting to take positions in various altcoins. Among these, there are a number of coins that have shown a lot of promise when it comes to reaching the $100 price mark and this report takes a look at three. MoonRiver (MOVR) Tops Lists Of Altcoins To Reach $100 The MoonRiver (MOVR) token has been one that has flown under the radar for quite a while now. This has to do with the fact that the price of the…

Sei V2 Code Is “Functionally” Complete, Audit Ongoing: New All-Time High Incoming?

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Taking to X on January 2, Jay Jog, the co-founder of Sei, Sei V2, is functionally “code complete” with Zellic and OtterSec, two blockchain security firms, auditing the code base. This development comes as the platform’s native coin, SEI, continues to surge, reaching all-time highs just four months after the launch of the high-performance blockchain in August. What’s The Big Deal About Sei V2? Once it launches in Q1 2024, Sei V2 will introduce a parallelized Ethereum Virtual Machine (EVM). According to developers, this model combines the best features of Solana and Ethereum,…

Bitcoin ETF will attract pension funds and RIAs, says CBOE digital chief

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John Palmer, the president of crypto clearing house CBOE Digital, anticipates a significant influx of institutional investment into Bitcoin as soon as the SEC greenlights the first-ever spot ETF.  In a Bloomberg TV interview, Palmer highlighted that such approval would open doors for pension funds and funds based on registered investment advisers (RIAs) to engage in Bitcoin assets through a spot ETF, a move currently restricted with standard Bitcoin tokens. This development comes as Bitcoin’s value surged past $45,000 for the first time in almost two years, just ahead of…

Coinbase (COIN) Buckles 10%, Bitcoin Miners Falter Despite BTC Price Rallying to $45K

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Approval of Bitcoin ETFs will cause bearish trend

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As the verdict on spot Bitcoin ETFs approaches between Jan. 8 and Jan. 10, market analysts, including K33 Senior Analyst Vetle Lunde, predict a sell-the-news scenario. Lunde, citing trader exposure and derivatives’ massive premiums, suggests a 75% likelihood of this outcome, overshadowing the 20% chance of approval. Despite signs of froth in the market, such as futures premiums reaching annualized levels of 50%, institutional players continue to build long exposure, reflecting expectations of approval. Open interest surged by over 50,000 BTC in the last three months, driven by anticipation of…

Bitcoin mining firm CleanSpark to launch in-house crypto trading

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CleanSpark, the third-largest public Bitcoin mining firm in the U.S., is set to establish its own trading desk in 2024, aiming to optimize the profitability of its substantial Bitcoin assets. In an interview with Bloomberg, Zachary Bradford, the CEO of CleanSpark, expressed the strategic decision to manage their Bitcoin transactions internally. Given their considerable Bitcoin holdings, he emphasized the financial prudence of this approach. This initiative aligns with the recent practices adopted by other Bitcoin mining companies. For instance, Marathon Digital Holdings has sold Bitcoin call options to generate revenue,…

Top 5 Events That Shook Up The Crypto Industry In 2023

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In the year 2023, the crypto industry witnessed a series of events that left a long-lasting impact on the crypto landscape. From the start of the Spot Bitcoin ETF mania to the increase in regulatory enforcement on major crypto organizations, 2023 was nothing short of a rollercoaster ride for crypto enthusiasts and institutional investors alike. So here are the top 5 events that shook the crypto industry to its core in 2023. Blackrock Spot Bitcoin ETF Rocks Crypto The world’s largest asset management company, BlackRock was the first major traditional…

Bitcoin cannot be killed, is here to stay

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Economic analyst Jim Cramer asserts that Bitcoin’s recent resilience and technological prowess signal its permanence as it surges past $45,000 amid anticipation of a spot Bitcoin ETF approval. He confidently stated, “You can’t kill Bitcoin,” and emphasized its permanence, declaring it “here to stay.” Cramer further commended Bitcoin (BTC) as a “technological marvel” due to its perseverance despite challenges. The context for Cramer’s comments lies in Bitcoin’s recent surge above $45,000, a milestone not reached since 2022. The anticipation of imminent approval for a spot Bitcoin ETF is seen as…

Bitcoin Trend Strength Exhibits Striking Similarities With Last Bull Run

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Bitcoin price is above $45,000 for the first time since April 2022 and according to the weekly Average Directional Index, the rally might not be stopping anytime soon. That’s because the trend strength measuring tool is beginning to show shocking similarities with the 2021 bull run. Bitcoin Bull Run Deja Vu: 2021 Versus 2024 When Bitcoin is trending, it is wise to get out of the way. The same is true regardless of whether or not BTCUSD is in an uptrend or a downtrend. Currently, the top cryptocurrency by market…