Solana has continued its bullish sentiment in its ecosystem to flip Ethereum in the stablecoin market for the second week in a row, according to on-chain data. SOL’s price gain has slowed in the past week, showing a negative 2.3% in a 7-day timeframe at the time of writing. However, stablecoin transfers on the Solana chain reveal the blockchain retaining its reputation as an Ethereum killer, registering more than $10.3 billion more trading volume in the last week. Stablecoins Growing On Solana Ethereum has mostly dominated the stablecoin market since…
Day: January 3, 2024
ENS Token Jumps 50% as Ethereum Co-Founder Buterin Hails Ethereum Name Service as ‘Super Important’
Ethereum Name Service is a platform that lets users buy a domain name on the Ethereum blockchain. These domains can then be used to transfer and receive funds, replacing the alphanumeric wallet address. There are currently 2.1 million registered ENS domains, with 800,000 unique participants, according to Dune Analytics. Source
Looking at Mina Protocol and GFOX growth potential in January
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In January 2024, investors are actively searching for crypto opportunities to capitalize on. Two contenders appear poised for growth — Mina Protocol and Galaxy Fox. Let’s take a closer look at both of these projects. Will Mina Protocol grow in January? Mina Protocol has made some key moves. It appointed FinTech veteran Kurt Hemecker as the new CEO, signaling strategic growth plans. As a Coinbase-backed project, Mina benefited from an early major…
Bitcoin Crashes To $41,500 As ETF Approval Hangs In Balance
As the January 10 deadline for the US Securities and Exchange Commission (SEC) to decide on a series of spot Bitcoin Exchange-Traded Funds (ETFs) approaches, the market is rife with speculation. Initially, there was a strong consensus for approval, but recent expert analyses suggest a possible change in course. Meanwhile, the Bitcoin price has crashed by 6.5% in 20 minutes, dropping from $44,400 to $41,500. 1. Bloomberg’s Insight: A Matter of Timing, Not Denial Bloomberg’s ETF expert, Eric Balchunas, assessed a mere 10% chance of the ETFs not being approved,…
SEC will reject all Bitcoin ETFs in January, says Matrixport
Matrixport analysts expect the U.S. Securities and Exchange Commission (SEC) to reject all Bitcoin (BTC) spot ETFs in January. In the latest Matrix report, “Why the SEC will REJECT Bitcoin Spot ETFs again”, analysts predict that all applications for spot Bitcoin ETFs could receive approval in the second quarter of 2024. As a result, the price of BTC will fall to $36,000-$38,000 in January, and recommended that investors buy put options or even sell Bitcoin directly. Experts also recalled that the current five-member commissioner leadership, which is critical to ETF…
Bitcoin’s (BTC) Strong Start to January May Falter
Although bitcoin began January by hitting a 21-month high above $45,000, the month has historically not seen positive returns. Only twice in the past five years has the largest cryptocurrency gained in January, according to data from TradingView. Bitcoin gained 40% last January, but lost 16% the year before. It dropped 8% over 24 hours to trade at around $42,000 on Wednesday. Still, there’s room for bitcoin to rally should a spot bitcoin exchange traded fund (ETF) be approved in the U.S., According to LMAX Digital. “As much as the…
SEC to Reject Spot Bitcoin (BTC) ETF Proposals in January
“An ETF would certainly enable crypto overall to take off, and based on Gensler’s comments in December 2023, he still sees this industry in need of more stringent compliance,” Matrixport continued. “From a political perspective, there is no reason to approve a bitcoin spot ETF that would legitimize Bitcoin as an alternative store of value.” Source CryptoX Portal
Cardano In 2024: Dollar Dream Or Downward Spiral For ADA?
After a spectacular climb of over 150% in 2023, Cardano (ADA) has reached a new yearly high, touching a peak of $0.67 for the second time last month. Notably, the increase coincides with an impressive rise in important Cardano ecosystem components, with the leading Decentralized Exchange (DEX) Minswap witnessing an astounding 26,000% gain and drawing a sizable influx of new users. On its one-day timeframe, Cardano, the eighth-largest cryptocurrency by market value, and currently trading at $0.61, is now exhibiting optimistic signals. The digital currency’s trajectory indicates that, despite a…
Strike CEO Jack Mallers goes all-in on Bitcoin, ditches US dollar
Strike CEO Jack Mallers, an ardent Bitcoin (BTC) advocate, has announced his move away from fiat currency, opting to go all-in with Bitcoin. In a Jan. 3 X post, Bitcoin enthusiast and visionary Jack Mallers announced his complete divestment from the US dollar, stating, “I no longer own any US dollars. Not even a penny.” I no longer own any US dollars. Not even a penny. As an American millennial, I love our country but I oppose our money. I’m all in on #Bitcoin. Setting my sails toward prosperity or…
Bitcoin Slumps as $400M Liquidated in Two Hours
Bitcoin slid 8% from a 20-month high on Wednesday as jitters around the anticipated approval of a spot BTC ETF began to enter the market. Source