Day: February 22, 2024

What Investors Need to Know About the Impending Supply Shift and Potential Price Impact

At a high level, a Bitcoin halving is when the introduction of new bitcoins into circulation is reduced by half. This happens roughly every four years, and this schedule will continue until the last bitcoin is mined sometime around 2140. The supply is capped at 21 million BTC. This mechanism was devised by Bitcoin’s creator(s) as a way to enforce scarcity and deflationary properties of bitcoin. The idea is that, so long as the adoption of the Bitcoin network grows over time, a mechanism like this will ensure that the…

Polygon Could See Bull Rally To $1.73 If This Happens: Analyst

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An analyst explained that Polygon could see a potential bull rally to $1.73 if the cryptocurrency’s price is above this level. Polygon Appears To Be Breaking Out Of A Symmetrical Triangle Currently In a new post on X, analyst Ali talked about a multi-year Symmetrical Triangle that Polygon has been traveling inside. The “Symmetrical Triangle” is a pattern in technical analysis (TA) that, as its name already implies, looks like a triangle. The pattern comprises two converging trendlines, with the upper line being made by joining lower highs in the…

Nvidia Earnings Send AI Tokens Higher, Worldcoin Reaches ATH

Taking the lead in terms of gains is Worldcoin’s WLD, which is up 40% on the day and almost 170% over the past 7 days. The token touched a new all-time high of $8.85 earlier and was trading at $8.54 at press time. Worldcoin was co-created by OpenAI founder Sam Altman and thus often associated with AI-related projects. SingularityNET {{AGIX}}, a decentralized AI marketplace, saw its token climb 43%. FetchAI {{FET}} was up 18%. Source

Circle Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access

Circle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo’s shared mission of increasing financial access. San Francisco-based financial services firm Circle announced the launch of USDC on the Celo blockchain earlier this week, allowing users to access the regulated US dollar stablecoin without needing to bridge assets across chains. USDC is now natively integrated on Celo, joining the blockchain’s existing stablecoin use cases including remittances, savings, lending, and payments. The move provides another way for…

LBank Labs Leads Investment Round in FortyTwo, Pioneering UX Frontend for Interchain DeFi

PRESS RELEASE. LBank Labs, a leading blockchain investment fund of $100M AUM announced today its participation in a strategic funding round for FortyTwo, a revolutionary UX frontend for decentralized finance (DeFi) across the interchain ecosystem. The investment round also saw participation from a distinguished list of funds and angel investors. FortyTwo is actively developing technology […] Source CryptoX Portal

Fundstrat Exec Predicts Bitcoin Will Reach $150,000, Here’s When

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Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, recently commented on the future trajectory of Bitcoin. He also mentioned when the flagship crypto token could hit this particular price level.  Bitcoin To Rise To $150,000 This Year Lee mentioned during an appearance on CNBC’s “Squawk Box” that Bitcoin could rise to as high as $150,000 this year. His belief that BTC could rise to this price level is due to the fact that demand is improving with the Spot Bitcoin ETFs. These funds are known to…

Spot Bitcoin ETFs log $35.6m in first single-day outflow since January

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Spot Bitcoin ETFs in the U.S. saw daily net outflows for the first time as Grayscale GBTC selloffs outpaced inflows into nine other funds.  On Feb. 21, spot Bitcoin (BTC) ETFs recorded net outflows worth $35.6 million in what may be a round of profit-taking by investors. Yesterday was the first day these Bitcoin-based exchange-traded funds experienced negative numbers since Jan. 25, following 17 days of consecutive net inflows mainly led by BlackRock and Fidelity. According to SoSoValue, Grayscale’s GBTC ETF accounted for the bulk outflows. GBTC shed $199 million,…

The European Central Bank’s Blog Post on Bitcoin ETFs

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Moreover, it seems wrong that Bitcoin should not be subject to strong regulatory intervention, up to practically forbidding it. The belief that one is protected from the effective access of law enforcement authorities can be quite deceptive, even for decentralised autonomous organisation (DAO). DAOs are member-owned digital communities, without central leadership, that are based on blockchain technology. A recent case involved BarnBridge DAO, which was fined more than $1.7 million by the SEC for failing to register the offer and sale of crypto securities. Despite claiming autonomy, the DAO settled…