Day: January 22, 2024

Crypto usage grew 34% in 2023; Bitcoin, Ethereum major catalysts

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Defi activity on Bitcoin and Ethereum’s technological upgrade after the merge propelled global crypto usage above 500 million, a Crypto.com report said.  According to the crypto exchange, cryptocurrency holders or users increased from 432 million to around 580 million worldwide, marking a 34% growth in 12 months following breakthroughs on the two largest blockchains.  The number of Bitcoin (BTC) participants expanded by some 33%, rising from 222 million at the start of last year to nearly 300 million by December. Per the report, BTC’s adoption exploded primarily because of institutional…

Analyst Foresees Bitcoin Downtrend Until GBTC Is Liquidated

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Chris J Terry, a cryptocurrency analyst and enthusiast, has revealed his insights on the price action of Bitcoin, predicting a continuous decline in the price of the crypto asset. Analyst Says Bitcoin Will Continue To Drop The crypto analyst shared his insights regarding Bitcoin with the cryptocurrency community on the social media platform X (formerly Twitter), anticipating a possible “continuation of a flat or declining trend.” He highlighted that the downtrend will continue until Grayscale Bitcoin Trust (GBTC) is fully “liquidated.” According to him, the liquidation will be possible with…

Bitcoin ETFs in US approved. What about Europe?

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While Americans have seen the adoption of Bitcoin (BTC) spot and futures ETFs, the situation in Europe is different. Bitcoin ETFs have been a hot topic for many months, as the approval of ETFs based on actual Bitcoin in the U.S. could potentially lead to an influx of funds from Wall Street institutions, possibly pushing the price of Bitcoin to new heights. How do Bitcoin ETFs work? Like traditional ETFs, Bitcoin ETFs are issued by financial institutions that invest in Bitcoin and manage the fund on behalf of investors. A…

FTX Sold About $1B of Grayscale’s Bitcoin ETF (GBTC): Sources

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U.S., U.K., Australia Sanction Hamas-Affiliated Crypto Transaction Facilitators

No specific crypto addresses were added to the Specially Designated Nationals list, unlike typical crypto sanctions. Instead, a press release cited Israel’s National Bureau for Counter Terror Financing (NBCTF) freezing 189 crypto addresses associated with three exchanges, one of which is Al-Markaziya Li-Siarafa , a company based in Gaza and Turkiye owned by Zuhair Shamlakh, an individual whose companies provide support for Hamas using crypto and fiat. Source

24 Exchange Hits $4 Billion in FX NDF Volumes

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24 Exchange, the multi-asset class trading platform, announced today that it has set consecutive daily records for Foreign Exchange Non-Deliverable Forward (FX NDF) trading volume. The company processed an impressive total of over $4 billion in FX NDF trades for its global institutional customers on two consecutive days last week. This achievement marks a milestone, surpassing 24 Exchange’s previous daily volume record of $3.1 billion set in October of the previous year. Dmitri Galinov, the CEO and Founder of 24 Exchange, stated: “Setting consecutive daily volume records for FX NDF…

Grayscale has offloaded $2.14b in BTC since ETF approval

Grayscale Investments has sold over $2.14 billion in BTC following the SEC’s approval of spot Bitcoin ETFs. According to a Jan. 22 post by crypto analytics platform Lookonchain, Grayscale’s Bitcoin holdings have diminished by about 52,227 BTC, equivalent to $2.14 billion, following the SEC’s recent approval of spot Bitcoin ETFs earlier this month. According to the #Grayscale website, #Grayscale currently holds 566,973 $BTC($23.21B), decreasing ~52,227 $BTC ($2.14B) since the ETF was passed. And iShares(Blackrock) holds 33,431 $BTC($1.37B), Fidelity holds 24,857 $BTC($1.02B), Bitwise holds 10,152 $BTC($415.6M). pic.twitter.com/fx2Kj3WpSB — Lookonchain (@lookonchain) January…

Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11

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Popular Crypto YouTuber Ben Armstrong has shared his bullish prediction for the Cardano (ADA) price. While giving his prediction, Armstrong also alluded to a recent ADA price prediction that crypto analyst Ali Martinez made.  Armstrong’s Bull Case For Cardano Is $11 In a video posted on his YouTube channel, Ben Armstrong mentioned that his bull case prediction for ADA is $11. However, the crypto YouTuber didn’t share any analysis to back up his bullish sentiment. Instead, he only referred to an earlier ADA analysis that Martinez had shared as part…

Hong Kong’s game developer Linekong Interactive to buy up to $6m in crypto

Chinese public game developer Linekong Interactive plans to purchase $6 million in Bitcoin and Ethereum. In a regulatory filing with the Stock Exchange of Hong Kong on Jan. 21, Linekong Interactive proposed a revision of its previously approved transaction to buy up to $5 million in Bitcoin (BTC) and Ethereum (ETH). Now, the Hong Kong-based game developer wants to increase that cap to $6 million, citing the rapid rise in crypto prices. “The company believes these revisions would provide flexibility to the board in capturing fleeting opportunities in the highly…