Societies have often frowned on bankruptcy, viewing it in moral terms as a breach of trust. But, in the wake of 2022’s scandals, the process helped relaunch the crypto industry, says Michael Casey. Source
Ronin (RON), the token powering the Ronin Network, experienced a rollercoaster ride in the past 24 hours, rallying to a two-year high before crashing nearly 30% after its listing on Binance. This dramatic price swing has raised questions about potential market manipulation and the long-term viability of the project. From Hero To Zero: A Short-Lived Rally On February 5th, RON enjoyed a meteoric rise, surging 15% to reach a peak of $3.54. This rally was fueled by investor optimism surrounding the network’s growing user base and address activity. Trading volume…
During the early hours of Tuesday, Solana (SOL) encountered a significant outage, adding to the growing list of incidents it has faced in the past 24 months. As reported by our sister website NewsBTC, the mainnet-beta of Solana experienced a nearly 5-hour disruption, which raised concerns within the cryptocurrency community. The incident was initially detected when block explorers Solscan and OKLink indicated a lack of new transactions on the network. The ongoing disruption prompted South Korean crypto exchange Upbit to suspend deposits and withdrawals for SOL and several other tokens.…
The recent dip in Bitcoin’s value below $43,000 has been influenced by miners offloading their reserves. This trend is largely due to the SEC’s approval of spot Bitcoin ETFs, prompting miners to either exit their positions or leverage them, a Bitfinex report says. The report suggests that the impending halving event, which will cut miner rewards and impact profitability, is motivating this sell-off. 1-month chart of BTC price from CoinGecko.com Bitfinex analysts have pointed out that the sales are strategic for miners, allowing them to invest in infrastructure upgrades. This…
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…
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
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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…
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 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…