Bitcoin is back above $43,000 just days after making a swift recovery from below $40,000 to $42,000. This trend reversal is believed to be due to a number of recent developments that have painted a bullish narrative for the flagship crypto token. The Grayscale Effect Is Wearing Off Bloomberg analyst James Seyffart recently highlighted how BlackRock’s Spot Bitcoin ETF, IBIT, went toe-to-toe with Grayscale’s GBTC on Day 12 of trading in terms of trading volume. This happened to be the closest that IBIT or any Spot Bitcoin ETF had come…
Month: January 2024
Blockchain Newcomer Reaches $443 Million TVL, Enters Top 10
In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. Reaching an impressive $1.61 on the back of a solid 50% weekly rally on Tuesday – its highest point since May 3rd of the previous year – Sui has proven to be one of the standout performers of 2024. With an astronomical surge of over 328% from its lowest level in 2023, Sui has solidified its position as one of the most successful cryptocurrencies of the year. SUI…
Invesco Galaxy reduced spot Bitcoin ETF commission amid competition pressure
Invesco and Galaxy Digital have announced fee reductions for their spot Bitcoin (BTC) ETF (BTCO). According to filings with the U.S. Securities and Exchange Commission, the fee is reduced by 14 basis points, from 0.39% to 0.25%. Invesco and Galaxy Digital note that their product exempts clients from commissions for the first six months on assets of up to $5 billion. At the same time, the companies retain the right to extend preferential conditions for investors. The updated rate will improve the position of the Invesco and Galaxy Digital cryptocurrency…
XRP is under pressure, whales exploring Celestia and NuggetRush
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ripple’s victory against the U.S. SEC will boost XRP Whales exploring Celestia and NuggetRush NUGX may rally after launch XRP has been underperforming despite the approval of the spot Bitcoin ETF. Meanwhile, whales are interested in Celestia (TIA) and NuggetRush (NUGX). Exploring NuggetRush NuggetRush is a new meme coin whose presale is in progress. At the current presale stage, NUGX is available for $0.018. The platform combines memetic elements like…
SOL, AVAX Lead Crypto-Market Recovery, Bitcoin Tops 50-Day Average Before Fed Meeting
Altcoins’ consistent positive performance over the past six days is boosting optimism and setting up bitcoin to test $46,000, one analyst said. Original
Binance Allows Traders to Custody Assets at Sygnum, FlowBank: FT
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Why Solana Beats Ethereum In This Bull Cycle: Crypto Expert
In a recent analysis, Andrew Kang, co-founder and partner of Mechanism Capital, provided a comprehensive analysis of the cryptocurrency market, focusing on the comparative strengths of Solana (SOL) over Ethereum (ETH) in the current bull cycle. Kang shared his insights via X, the platform formerly known as Twitter. Central to Kang’s argument is the idea that in the current market, Solana presents a more favorable trading option than Ethereum. He states, “The definition of insanity is repeatedly trying to long ETHBTC when longing SOLBTC (or SOLETH) is the much better…
Maker generates $14m in revenue, Ethereum’s earnings surge
Maker Protocol tops the list in terms of revenue generated over the past month as Total Value Locked in the protocol witnesses swell. According to data provided by Defi Llama, Maker Protocol generated $14.22 million in revenue — also collected the same amount in fees — in the past 30 days. However, The DAI stablecoin generator’s TVL witnessed a 6.3% decline in the same timeframe, falling to $7.98 billion. Defi protocols’ revenue – Jan. 30 | Source: Defi Llama The leading defi protocol, Lido Finance, with a $21.8 billion TVL,…
ORDI: Extraordinary Price Movement Excites Investors
At the time of writing, ORDI is experiencing a substantial increase in price after several events in the crypto world unraveled. Coingecko data reveals that ORDI is up nearly 12% in the past 24 hours. However, it remains to be seen whether this uptick in price will erase the bearishness experienced in the past few weeks. But right now, the crypto market, as a whole, is up a huge amount. The latest market data shows that the broader market is up nearly 3% after the bullishness brought by major coins…
Floki Team Responds to Hong Kong Regulator Warning
To address regulatory concerns in Hong Kong, the Floki team said that they have implemented measures, including warning notices, blocking Hong Kong users from their staking programs, and pausing their offline marketing campaign in the region, ensuring no Hong Kong users have joined the program to date. Staking refers to locking cryptocurrencies in a blockchain network in return for rewards. Source