Day: February 6, 2024

Bitcoin, Solana Take Center Stage In $721 Million In Institutional Inflows

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According to a CoinShares report, Bitcoin and Solana led the way in the amount of institutional inflows into digital asset investment products last week. The report also highlighted an emerging trend among Spot Bitcoin ETFs in the US.  Bitcoin Records $703 Million In Inflows Bitcoin is reported to have seen inflows totaling $703 million last week, thereby accounting for 99% of all flows into these investment products. Solana came in a distant second with an inflow of $13 million, outperforming the second-largest crypto token, Ethereum, which saw an inflow of…

Treasury Secretary Janet Yellen Says U.S. Needs Better Stablecoin Regulation

Yellen also addressed the U.S. Securities and Exchange Commission’s proposal to further restrict how investment firms custody their client’s assets, including their crypto holdings. The proposed rule, which is on the agency’s agenda to complete this year, would require a wider range of client assets to be held with “qualified custodians,” and it has drawn criticism from bankers, some lawmakers and even other regulators about its potential effects. Source

Cathie Wood Says BTC ETFs Mean ‘Substitution’ From Gold Into Bitcoin Will Continue

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70% Of PEPE Investors Hit Hard

Meme coin PEPE navigated a turbulent week, experiencing a 14% price drop but finding solace in rising bullish sentiment and technical indicators pointing towards a potential rebound. Investor Woes, But Whale Appetite Grows NewsBTC’s analysis, using data from IntoTheBlock, revealed over 70% of Pepe investors currently sitting on losses, suggesting a challenging week. However, whales saw opportunity in the dip, with Santiment data showing a sharp increase in Pepe holdings by top addresses. Source: IntoTheBlock Bullish Buzz Despite Price Slump Sentiment around Pepe took an interesting turn, defying the price…

this coin may outperform Bitcoin and Ethereum in 2024

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Although the broader market has been relatively flat, the Bitcoin Minetrix presale has been active, pushing raised amount to over $10.3 million. Some supporters now believe Bitcoin Minetrix (BTCMTX) could outpace top coins like Bitcoin (BTC) and Ethereum (ETH) in 2024. The project incorporates a stake-to-mine model for utility, adding value to its ecosystem. BTCMTX versus BTC and ETH  Since Bitcoin and Ethereum are considered some of the safest (least volatile) cryptocurrencies, market participants often expect more sizable returns when buying other projects. New coins typically have more upside potential…

Grayscale CEO calls for regulatory approval on spot Bitcoin ETF options

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Grayscale CEO Michael Sonnenshein has called on regulators to greenlight options for spot Bitcoin ETFs. In a statement on Feb. 5, Sonnenshein highlighted the benefits of exchange-traded options for investors, emphasizing its role in price discovery and the potential to help investors manage market conditions more effectively or achieve specific outcomes like generating income. As we look ahead, I think it’s never been more important for the #crypto and ETF communities alike to advocate for the development of a robust listed options market for spot #bitcoin ETFs. Although $GBTC has…

Cathie Wood advocates for BTC as next safe-haven asset

Cathie Wood, ARK Invest CEO, has been vocal about her belief in Bitcoin’s potential to overshadow gold as the preferred safe-haven asset.  Wood’s insights, shared during a YouTube update, highlighted Bitcoin’s performance during last year’s regional bank crisis in March, where it saw a remarkable 40% price increase, contrasting with the struggles faced by the regional bank index. The trend, she noted, is resurfacing as Bitcoin gains momentum while the regional bank index faces volatility. Her observations align with a growing sentiment that Bitcoin is increasingly viewed as a ‘flight…

Solana Suffers 11th Outage In 2 Years, SOL Price Drops 3%

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The Solana blockchain network is currently experiencing an outage, marking its 11th such incident in the past two years. As of the latest updates, Solana’s mainnet-beta has been non-operational for about two hours, with block progression coming to a standstill. Solana is down for 2 hours now | Solscan Solana Network Comes To A Standstill The issue was first noticed when Solscan and OKLink, two prominent block explorers, indicated a lack of new transactions on the network. The last recorded transaction was at 9:52 am UTC. Upbit, a crypto exchange,…