Per Thielen, investors in Grayscale’s ETF, the Grayscale Bitcoin Trust (GBTC), switching to other low-fee options will likely weigh over bitcoin’s price. While Grayscale charges 1.5%, other asset managers like BlackRock charge 0.25%. GBTC, formerly a close-ended trust, is one of the largest bitcoin holders, with a coin stash of over $27 billion. GBTC shares began trading in 2013 and became redeemable on Jan. 11. Original
Chainlink’s LINK price is moving higher above the $15.00 resistance. The price is now up over 5% and might aim for a move toward the $18.00 resistance. Chainlink price is showing positive signs above $14.50 against the US dollar. The price is trading above the $15.00 level and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could rally further if it clears the…
Ethereum price struggled to clear $2,720 and corrected gains. ETH is now struggling to stay above the key $2,440 support zone and might extend losses. Ethereum climbed further higher toward $2,720 before the bears appeared. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a downside thrust if it breaks the $2,440 support zone. Ethereum Price Revisits Support Ethereum price outpaced…
Bitcoin price topped near the $49,000 resistance zone. BTC started a major decline and broke many key supports at $45,000 to enter a short-term bearish zone. Bitcoin peaked near the $49,000 level and started a steady decline. The price is trading below $43,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if there is a move below the $41,500 support…
Ethereum Name Service (ENS) is enjoying bullish momentum in 2024 thus far, gaining 96% over the past week, per CoinGecko data. The surge comes after ENS experienced a massive drawdown in 2023 due to the longstanding crypto winter and regulatory uncertainties. In June, ENS witnessed a bloodbath triggered by regulatory actions against leading exchanges, hitting a five-year low of $6.69. ENS started sliding from its all-time high of $83.40 on Nov. 11, 2021, ending with a cycle low. The bear market continued till 2023. At the time of writing, ENS…
To incentivize early adoption, BitCountry is offering an exclusive opportunity for the first 1,000 users to free-mint their BitAvatar IDs without requiring an Invite Code. BitCountry, the pioneering Polkadot parachain project dedicated to developing immersive metaverse communities, is set to introduce BitAvatar, a Universal Avatar identity accompanied by an NFT-bound wallet to the Polkadot community through its InnoVoy Event. As highlighted in a press release shared with Coinspeaker, the InnoVoy event is poised to revolutionize the Web3 identity landscape just ahead of the much-anticipated L1 MNet Continuum launch. BitAvatar: A…
The Hong Kong Virtual Asset Consortium (HKVAC) unveiled changes to several of its cryptocurrency indexes. HKVAC’s rebalancing, set for Jan. 19, will affect its central index, the HKVAC top 5, as well as the top 1O Index and the Global Large Cryptocurrency Index. The HKVAC top 5 will exclude several prominent cryptocurrencies. For instance, Solana (SOL), which has recently been highlighted for its significant market strides, is set to replace Ripple’s XRP. Despite the tumultuous 2022 collapse of the FTX crypto exchange, which sent SOL prices plummeting by over 95%,…
Ethereum Classic (ETC) experienced a 37% increase over the past seven days. Observers note that the surge is likely due to investors anticipating that the U.S. Securities and Exchange Commission will consider applications for an Ethereum (ETH) exchange-traded fund (ETF). On Jan. 10, the agency approved spot Bitcoin ETFs, However, SEC Chair Gary Gensler cautioned that the BTC ETF green light should not be interpreted as a signal of the agency’s willingness to give ETH the same treatment. Still, Ethereum Classic witnessed a surge of over 35% this week. The altcoin is…
The captivating Binance Smart Chain (BSC) Network has morphed into a powerful force within the blockchain ecosystem, offering various benefits and opportunities for users and developers alike. Introduced by Binance, a top player in the global cryptocurrency exchange realm, BSC provides a robust and efficient infrastructure for decentralized applications (dApps) and digital asset transactions. The key advantage of the BSC network is its high-speed and low-cost transactions. With its standout consensus mechanism, BSC achieves fast block confirmations, enabling quick and seamless transfers of digital assets. This scalability advantage makes BSC…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Even with the approval of a spot Bitcoin ETF, altcoins are recovering. Galaxy Fox is firm and continues to gain traction in crypto. Galaxy Fox rising Galaxy Fox has innovative features and a purpose-driven goal. It offers a hybrid model combining gaming and decentralized finance (defi) utility. By enabling both trading and GameFi participation, Galaxy Fox differentiates from more limited-use altcoins. This dual-utility design attracts GameFi fans in ways singular-use tokens…