Month: January 2024

Crypto Community Raises Alarm Over Coinbase’s Dominance Of Bitcoin Held In Spot ETFs

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Coinbase, the largest cryptocurrency exchange in the United States, is presently serving as the custodian of the majority of the Spot Bitcoin ETFs managed by various asset management companies in the industry. This notable concentration is raising worries in the crypto community about significant centralization and potential risks associated with the custodianship.  Coinbase Dominate ETFs As Major Custodian Coinbase’s significant role in the advancement of Spot Bitcoin ETFs has become a target of scrutiny in the crypto community. The American crypto exchange is currently the custodian of 9 out of…

Cantor Fitzgerald’s Howard Lutnick Addresses Questions Around Tether’s Stablecoin Assets: ‘They Have the Money’

When asked about a more prominent topic in crypto news currently – the approval and listing of over a dozen spot bitcoin exchange-traded funds (ETFs) – Lutnick questioned the real value of bitcoin and stablecoins for Americans and argued that crypto currencies are attractive as speculative assets in this country, whereas people in other nations, such as Argentina, Venezuela and Turkey, hold crypto for more substantial reasons. Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin (BTC), Stablecoins and CBDCs Could Erode and Reinforce U.S. Dollar Dominance: Morgan Stanley

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The dominance of the U.S. dollar as the linchpin of the international financial system is being increasingly questioned due to shifting geopolitical currents and the country’s growing twin deficits, Wall Street giant Morgan Stanley (MS) said in a report last week. Enter cryptocurrencies, which, while still in their early stages, have the potential to both erode and reinforce the dollar’s dominance in global finance, the bank said. “The recent growth in interest of digital assets such as bitcoin (BTC), growth of stablecoin volumes and the promise of central bank digital…

Solana drops 7% after rally, what’s next for SOL?

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana has experienced bearish momentum this week as it retraces by 7%. But the move has sparked fears of further downside after breaking below $100.  Will SOL recover to continue its rally, or are new lows imminent? Traders back Solana Market participants are notably bullish on the upcoming weeks and months for crypto, with this sentiment spilling over into Solana despite its recent pullback. Currently, Solana is trading at…

Anticipation Peaks As Bitcoin Halving Countdown Drops Below 100 Days: Will Prices Skyrocket?

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With the Bitcoin halving event drawing near, Data from crypto industry research and analytics platform, CryptoRank.io, has recently revealed that a significant majority of its users – 79% – are bullish about the upcoming halving, while 21% have bearish skepticism. This sentiment echoes the historical trend where previous halvings have catalyzed bullish rallies in Bitcoin’s price. Bitcoin Halving Countdown And Price Trajectory The Bitcoin halving, less than 100 days away, is a pivotal event in the crypto world. This process happens approximately every four years, and the reward for mining…

Analyst suggests Shiba Inu primed for a rally following spot Bitcoin ETF news

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Despite a recent flat market, SHIB sees the beginning of what Luckside Crypto predicts will be a good week of rallying for the memecoin. According to the Jan. 16 video, the market is starting to see a little bit of excitement following the news of spot Bitcoin ETF approval and the positive sentiment that was reported on Jan. 13, and now, any news around the Coinbase case, which is expected on Jan. 17, the day of the exchange’s federal court date in Manhattan. The SEC is accusing the exchange of violating national…

Buy dip in these bitcoin mining stocks over next two months

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Bitcoin miners have tumbled since last Thursday, following the launch of spot bitcoin exchange-traded funds . However, for some mining stocks, any weakness in the coming weeks is an opportunity, according to Bernstein. The declines are in part due to the pullback in the bitcoin price, which is down roughly 6% in the same period. In a Monday note to investors, Bernstein also pointed to lower investor appetite for mining stocks as a bitcoin proxy now that ETFs have entered the market. However, Gautam Chhugani, lead crypto analyst at Bernstein,…

Ethereum Trouncing Bitcoin, ETH/BTC Ratio Bouncing Higher: Will This Trend Continue?

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Amidst a volatile crypto market, Ethereum (ETH) is gaining momentum, outperforming its long-time rival Bitcoin (BTC). According to Kaiko data, the ETH/BTC ratio has steadily risen, rebounding from multi-year lows.  ETHBTC ratio trend | Source: Kaiko on X ETH/BTC Ratio Rising, ETH Momentum Building The ETH/BTC ratio technically gauges market sentiment towards these two leading crypto. The recent rebound indicates investors are increasingly bullish on Ethereum’s potential relative to Bitcoin.  This upward trajectory is fueled by growing optimism surrounding the potential approval of spot Ethereum ETFs and the general confidence that…