Of the new money, BlackRock’s iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin. Sizable exits from Grayscale’s Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow. Original
Péter Szilágyi, an Ethereum (ETH) developer, has lauded EIP-1559 and its ETH burning mechanism as “the great equalizer.” Taking to X on January 16, Szilágyi admired EIP-1559’s ability to “level the playing field between validators and regular users.” Developer: EIP-1559 Is A “Great Equalizer” Since the implementation of EIP-1559, Ethereum adjusted how users bid gas fees, introducing the “base fee,” which was burned or sent to an irretrievable wallet. So far, data from Ultrasound Money shows that over 3.9 million ETH have been destroyed. In the last week alone, the Ethereum network…
The Coinbase vs. SEC case takes center stage as the leading exchange is set to argue why its traded tokens are not unregistered securities. In June 2023, the SEC sued Coinbase, alleging the exchange traded 13 unregistered securities. The case is being heard by Judge Katherine Polk Failla today in the Southern District of New York. Insider reports from the hearing have revealed arguments and questions being asked by Judge Katherine Polk Failla. The judge scrutinized the Securities Act of 1933 as outdated by quoting pro-Bitcoin Senator Cynthia Lummis’ statement…
The decentralized exchange, which last year moved over to the Cosmos blockchain, just saw $757 million of volume over a 24-hour period. Source
Prominent economist and vocal crypto skeptic Peter Schiff has once again stirred the pot with his latest prognosis on Bitcoin (BTC). Schiff, known for his critical stance on digital currencies, has raised eyebrows with his latest post, where he warns of impending regulatory changes that could trouble Bitcoin’s transaction costs and future price trajectory. Regulatory Changes On The Horizon Schiff’s warnings are anchored in his belief that the US Securities and Exchange Commission (SEC), under the leadership of Gary Gensler, is poised to introduce new, more stringent regulations for cryptocurrencies.…
ARK Investment Management, led by Cathie Wood, divested from the ProShares Bitcoin ETF, reallocating approximately $16 million towards its own Bitcoin ETF. This move involved the sale of ProShares Bitcoin ETF (BITO) shares, a pioneering ETF in the Bitcoin futures market in the U.S., and the acquisition of 365,427 shares of ARK 21 Shares Bitcoin ETF (ARKB). This adjustment resulted in ARKB accounting for 1% of the ARK Next Generation Internet ETF (ARKW). The value of ARKB shares declined to $43.51 on Tuesday, a significant drop from the initial listing…
A financial services giant with nearly $90 billion in assets under its management is shutting down its futures Bitcoin (BTC) exchange-traded fund (ETF) just days after the U.S. Securities and Exchange Commission approved a slew of spot market BTC ETFs. According to a new press release, New York-based investment management firm VanEck says that it plans to close and liquidate the VanEck Bitcoin Strategy ETF, an exchange-traded product listed on the Chicago Board Options Exchange (CBOE). “As the sponsor of VanEck ETFs, VanEck continuously monitors and evaluates its ETF offerings…
According to YouTube analyst Crypto Banter, Bitcoin technical charts show an incoming fall in the market. Despite the approval of spot Bitcoin ETFs on Jan. 10, which many recognized as a win for the industry after the first application was submitted 10 years ago, the prices of Bitcoin (BTC) only dropped further, pulling most of the market into the red. The analyst relates that success should be more money going into BTC than flowing out. In looking at the numbers, while there was $1.2 billion in net inflows in the previous…
Recently, Bitcoin experienced a significant drop, crashing 15% from its 2024 highs around $49,000. This decline followed closely on the heels of the approval of 11 spot Bitcoin Exchange-Traded Funds (ETFs), a move that was initially met with optimism in the crypto community. The sudden downturn has left investors and traders analyzing the charts for clues about Bitcoin’s next move. Is The Bullish Bitcoin Trend Over? In the wake of this decline, technical analysis offers a beacon of insight. Notably, the correction was marked by a bearish engulfing candle on…
The sentiments around Ethereum look to be very bullish at the moment as the second-largest crypto token by market cap has seen its dominance surge against Bitcoin. Ethereum’s rise against the flagship crypto token is also significant, as crypto analyst Jaydee recently suggested that it could usher in the altcoin season. Bullish Predictions For Ethereum’s Price Crypto analyst Ali Martinez recently highlighted the fact that Ethereum broke out from an ascending triangle on the weekly chart. According to him, the crypto token has its eyes on the $3,400 price level…