Day: February 1, 2024

Bitcoin mentioned as financial powerhouse in ARK Invest’s 2024 market forecast

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ARK Invest’s latest report heralds Bitcoin as a dominant force in the investment world, advocating for a substantial 19.4% portfolio allocation.  The firm’s comprehensive analysis, detailed in its “Big Ideas 2024” report published on Jan. 31, highlights Bitcoin’s (BTC) impressive performance and potential future growth catalyzed by several key factors. Central to ARK’s assessment is Bitcoin’s remarkable return rate. Over the past seven years, Bitcoin has yielded an average annual return of around 44%, starkly outperforming other major asset classes, averaging a return of 5.7%. This exceptional performance is a…

ZetaChain’s token surges by 64% amid crypto market decline

The price of the ZetaChain project token, an EVM-compatible layer-1 blockchain, soared after listing on the largest centralized exchanges (CEX). According to CoinMarketCap data, over the past 24 hours, the token price was $0.9042, or 64% more than the previous day. Also, on Feb. 1, the coin reached an all-time high of $1.21 after the announcement of listing on leading CEXs, including Bitfinex, OKX, and others. Trading volumes for the token have skyrocketed, reaching over $60 million in the last 24 hours. ZetaChain price | Source: CoinMarketCap In August 2023,…

Ethereum Price Topside Bias Vulnerable Unless It Surges Past 100 SMA

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Ethereum price started a fresh decline from the $2,350 resistance. ETH is now testing the $2,240 support and remains at risk of more downsides. Ethereum started a fresh decline after it failed to surpass the $2,350 resistance zone. The price is trading below $2,300 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a fresh increase if it manages to stay above the $2,240 level. Ethereum Price…

Analyst Outlines Key Points Ahead Of Event

Anticipations for the upcoming Bitcoin halving event are high in the cryptocurrency community, with hopes of BTC witnessing a massive rally post-event. Nonetheless, several key factors should be considered prior to the halving. Important Considerations Ahead Of The Impending Bitcoin Halving Ali Martinez, a famous cryptocurrency analyst has revealed the major key points investors need to watch out for ahead of Bitcoin halving. The analyst shared his opinions on the subject through the social media platform X (formerly Twitter). In the X post, Martinez pointed out just four important factors…

Bitcoin Set For Weekend Rally Amid New Banking Crisis: Hayes

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Arthur Hayes, the founder of BitMEX, has offered an in-depth analysis of the current financial landscape and its potential impact on Bitcoin, especially in light of the recent challenges faced by New York Community Bancorp (NYCB) and the broader banking sector. Hayes’s analysis draws on the complex interplay between macroeconomic policies, banking sector health, and the cryptocurrency market. His comments are particularly insightful given the recent developments with NYCB. The bank’s stock plummeted by 46% due to an unexpected loss and a substantial dividend cut, which was primarily attributed to…

Solana in focus, analysts backing Tron and NuggetRush

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana may rally to $150 in 2024. Tron is likely to edge higher, buoyed by solid fundamentals Analysts back NuggetRush to surge The approval of spot Bitcoin ETFs in the United States forced prices lower. However, sentiment is improving. Analysts are bullish on Solana (SOL), expecting Tron (TRX) and NuggetRush (NUGX) to extend gains in the months ahead.  NuggetRush is on an uptrend NuggetRush combines memes with play-to-earn (P2E) and…

Binance Sued by Families of Hamas Victims, Hostages

The plaintiffs, who are also suing Iran and Syria, accuse the crypto exchange of facilitating the financing of Hamas, which is listed as a terror group by the U.S., U.K. and other jurisdictions, and other terrorist organizations between 2017 and 2023, “providing a clandestine financing tool that Binance deliberately hid from U.S. regulators.” Source

XRP Price Poised For Liftoff? Whale Holdings Soar Despite Ripple Hack

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In a recent turn of events, Ripple faced a significant security breach resulting in the loss of $112 million worth of XRP. Despite this setback, the cryptocurrency community has witnessed remarkable resilience from XRP whales, who have chosen to maintain their coin holdings. This unwavering support, coupled with Ripple’s swift response, has instilled confidence in the platform’s long-term viability. XRP Whales Display Unwavering Faith On-chain data provided by Santiment reveals that XRPLedger experienced a surge in whale transactions following the hack. A total of 217 transactions involving $1 million or…

El Salvador to stay committed to Bitcoin amid spot ETF approval

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Bitcoin will remain legal tender in El Salvador during president Nayib Bukele’s second term. As Reuters writes, citing vice president Felix Ulloa, Bukele has redoubled efforts to accept cryptocurrency as legal tender in El Salvador. This comment came after the International Monetary Fund (IMF) asked El Salvador to “reconsider” the measure during negotiations for a billion-dollar loan. Ulloa pointed out that El Salvador’s authorities will not abandon Bitcoin (BTC). He said the U.S. Securities and Exchange Commission’s (SEC) recent update to allow spot Bitcoin exchange-traded funds (ETFs) has only strengthened…