Day: February 10, 2024

Valkyrie exec predicts fewer Bitcoin ETF issuers by year-end

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Spot Bitcoin exchange-traded funds (ETFs) are nearing their first month of operation, with the landscape potentially set for consolidation by the end of 2024, according to Valkyrie Funds’ Chief Investment Officer, Steven McClurg. In an exclusive interview with Decrypt on Feb. 10, McClurg said he anticipates a reduction in the number of issuers from 10 to “about seven or eight.” He attributes this forecast to the financial burdens associated with running a spot Bitcoin ETF, compounded by a competitive fee-lowering trend that threatens the profitability of struggling issuers. McClurg emphasized…

Crypto Analyst Says Bitcoin At $100,000 Not Far Off, Here’s When

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Kevin Svenson, a crypto analyst on YouTube, recently provided an analysis of the future price trajectory of Bitcoin, predicting a strong surge to $100,000 this year. According to the analyst, BTC is poised to go parabolic after its halving in April as the crypto is looking very bullish on the weekly chart. The halving cuts the block reward for Bitcoin miners in half, reducing the supply of new Bitcoins in circulation. With demand remaining steady or increasing, the reduced supply has been historically known to drive up the price of…

More Than $1,000,000,000 in Ethereum Flows out of Centralized Exchanges This Week: IntoTheBlock

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Ethereum (ETH) flew off centralized exchanges this week, potentially reducing selling pressure on the ETH market, according to the crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, IntoTheBlock’s head of research, tracked Ethereum’s netflows, which measure the ETH moving in and out of centralized crypto exchanges by subtracting the amount of ETH’s withdrawals from its deposits. Outumuro notes that more than $1 billion worth of Ethereum netflows left centralized exchanges this week. ETH’s network fees, which indicate the willingness to spend and demand to use the asset, increased…

BONK Stays Alive In Top 100 List With 25% Single-Day Rally

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In a surprising turn of events, BONK, the self-proclaimed third biggest Doge-inspired meme coin, has roared back to life, notching an impressive 25% surge in the past 24 hours. This dramatic price jump catapulted BONK back into the coveted top 100 cryptocurrency rankings, reigniting hope among its investors and sparking curiosity within the wider crypto community. But what fueled this sudden rally, and can BONK sustain its newfound momentum? Let’s dissect the factors behind this comeback and explore the challenges that lie ahead. Source: Coingecko BONK: From Near Extinction To…

Industry titans resist ad play

As preparations for Super Bowl LVIII go into full swing, cryptocurrency companies are reportedly scaling back on exposure, with a majority opting out of advertising during the much-anticipated event. According to a report by Fox Business journalist Eleanor Terrett, the clash between the San Francisco 49ers and the Kansas City Chiefs in Las Vegas will have very little crypto presence, with the inflated costs of Super Bowl commercials ($7 million for 30 seconds) leading firms in the space to reassess how they deploy their marketing budgets. Terrett revealed that heavyweights…

AVAX Price Closes In On $40 With Latest 10% Surge

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The Avalanche token has been in a positive form recently, with the AVAX price turning in a good performance over the past week. This latest price boost makes a run to the $40 level more or less inevitable for the altcoin. However, investors are curious to see how long this rally will last, especially with the unlocking of a substantial amount of AVAX tokens on the horizon. AVAX Price Overview As of this writing, the AVAX price is slightly above $39, reflecting a nearly 8% jump in the last 24…

DeeStream pushes beyond Monero and Solana in 2024 predictions

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Some online platforms are trying to balance user privacy, asset security, and scalability, which is important for crypto investors. Monero (XMR) is known for privacy, while Solana (SOL) has a scalable solution. On the other hand, DeeStream (DST) claims to have found the right balance with its web3 video streaming platform. DeeStream and video content sharing DeeStream is a new video streaming platform that aims to remove the barriers that…

What Is Monero (XMR) Network?

What Is Monero (XMR)? Monero (XMR) is one of the leading cryptocurrencies focused on privacy, zero knowledge, and censorship-resistant transactions.  The Monero network operates on a proof-of-work (PoW) consensus mechanism, like Bitcoin and various other cryptocurrencies. This system incentivizes miners to contribute blocks to the blockchain. Monero’s PoW algorithm is designed to resist specialized mining equipment known as application-specific integrated circuits (ASICs). These ASICs confer a significant advantage to companies and affluent individuals, potentially leading to the centralization of the network. In 2018, Monero became the first major cryptocurrency to…

Buy Orders Dominate As ADA Price Soars

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Cardano is currently riding on the back of a modest 3.76% gain in the past seven days with the cryptocurrency on its way to the $0.55 level which will define its short-term price trajectory. On-chain data shows that the bulls are working hard in the background to push the crypto toward this price point, as evidenced by the buy orders piling up. Particularly, Cardano has experienced a surge in buy orders, tipping the bid-ask volume imbalance in the direction of the bulls. With so many buyers and so few sellers,…

Investors drop XRP for Sui and Rebel Satoshi 

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. XRP and SUI prices might recover in the days ahead. In the meantime, investors are analyzing Rebel Satoshi (RBLZ), a project that has raised over $1.5 million in its presale. It aims to reach a market capitalization of $100 million.  SUI price prediction Bluefin, a Korean DEX, released an upgrade to the Sui network on Oct. 3. This upgrade allows for faster trades, cross-margin, spot features, and the option…