The U.S. Securities and Exchange Commission (SEC) has not approved any spot bitcoin ETF applications as of Tuesday afternoon, despite a tweet from the regulator’s X (formerly Twitter) account saying they had been, the agency’s chair, Gary Gensler, said. Source
And, truth be told, crypto seems to have blown its greatest chance yet to develop serious, widely-available protocols that can withstand threats from malicious actors and nationstates. Instead, these past four years, under pressure from antagonistic authorities across the globe, but especially in the U.S., this decade-and-a-half old industry whiffed on its opportunity to prove exactly how resilient, open and utilitarian blockchain-based technologies can be. Source
The crypto community is buzzing about the US Securities and Exchange Commission (SEC) approving spot Bitcoin Exchange-Traded Funds (ETFs). This anticipation has permeated market discussions and significantly influenced social media metrics around Bitcoin. According to Santiment, a leading on-chain analytics platform, there has been a notable increase in Bitcoin’s social dominance in recent times, particularly in short-term periods. Bitcoin Social Dominance Surge And Market Response Santiment’s data reveals a spike in Bitcoin ETF-related conversations since mid-October, marking the highest level of social interest since the bullish rally. The top eight…
Tron just took the throne, beating Ethereum and Bitcoin with the most daily active addresses, with 1.4 million addresses active on Jan. 8. According to Token Terminal data, Tron (TRX) is followed by BNB Chain (BNB) with its 1.36 million, Polygon (MATIC) with under 600,000 Bitcoin (BTC) with just under 400,000 and Ethereum (ETH) with 362,000. Tron, Polygon, Bitcoin, and Ethereum daily active addresses chart | Source: Token Terminal The significance of daily active addresses (DAAs) as a metric extends beyond mere numbers; it offers a multifaceted insight into the…
While Bitcoin exchange-traded fund (ETF) applications are still awaiting approval from the US Securities and Exchange Commission (SEC), executives from asset management firms are already speculating about the potential launch of spot ETFs for other major cryptocurrencies, including XRP and Ethereum (ETH). Valkyrie Invest’s Chief Investment Officer, Steven McClurg, expressed his belief that the SEC’s potential approval of a Bitcoin ETF could pave the way for similar offerings in the XRP and Ethereum markets. However, regulatory challenges and classifying XRP and Ethereum as securities may present hurdles toward these index funds.…
Despite ETHBTC trending lower in favor of Bitcoin (BTC), there is a chance that the second most valuable cryptocurrency will recover in the months ahead. Taking to X in support of Ethereum (ETH), a crypto analyst, Mckenna, said a favorable combination of protocol-related and regulatory factors may support ETH, plugging the bleed versus BTC and sparking a refreshing rally. Ethereum slips versus Bitcoin | Source: McKenna via X Ethereum Under-performing Bitcoin: Will This Continue? Looking at the ETHBTC weekly chart, it is evident that Bitcoin bulls have had the upper hand…
The developer known publicly as Luke Dashjr, who has worked on Bitcoin for over a decade, created the proposal in September. The move came just months after the appearance of Ordinals, a protocol that allowed users to “inscribe” data onto the blockchain, such as NFTs or the specifications for new tokens. The Ordinals project quickly became so popular that it caused congestion on the network. The Bitcoin-based NFTs – previously only available on other blockchains, like Ethereum – have proven valuable in their own right, with a trio of “BitcoinShrooms”…
El Salvador has observed a significant uptick in the value of its Bitcoin holdings. For the past two years. El Salvador’s investments remained below their initial purchase value. However, the country now sees an increase in value, with unrealized gains amounting to approximately $12.6 million, according to data provided by Nayibtracker. This positive development in El Salvador’s Bitcoin investment saga was acknowledged by President Nayib Bukele, who expressed satisfaction last month, noting the nation’s venture into cryptocurrency has finally turned profitable. Source: Nayib Bukele Portfolio Tracker The initial phase of…
The volatile episode came at a time when the crypto industry anxiously awaits a spot bitcoin ETF approval, a landmark for the asset class’ maturation. Source
Crypto analyst Dark Defender has provided insight into how the XRP price could rise to $13. The analyst also suggested that the crypto token’s price could end up being way above that when other factors are considered. How XRP Will Rise To $13 In a post on his X (formerly Twitter) platform, Dark Defender stated that the XRP price could hit $13 when the total crypto market cap hits $23.24 trillion within a year. He noted how the crypto market has become more valuable year-on-year as it rose from $816…