Month: February 2024

Here Are The Largest Institutional Buyers Of Bitcoin This Week

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The Spot Bitcoin ETFs have lived up to the hype, as these funds have ramped up institutional adoption of the flagship cryptocurrency, Bitcoin. This is further evident in a recent analysis that captured how much Bitcoin BlackRock and other issuers amassed in this week alone.  Spot Bitcoin ETF Issuers Purchased Over 19,908 BTC This Week Data from the on-chain analytics platform Lookonchain shows that the Spot Bitcoin ETF issuers combined to purchase over 19,908 BTC ($860 million) this week. Meanwhile, it is worth mentioning that Lookonchain’s data didn’t capture WisdomTree’s…

LINK Price Hits Highest Since April 2022 as Comeback Gathers Steam

The world’s 13th largest cryptocurrency peeped above $18 during European hours, the highest since April 3, 2022, registering a 15% gain on a 24-hour basis, according to CryptoX data. The LINK price has risen nearly 30% in a week, beating major cryptocurrencies including bitcoin (BTC) and ether (ETH). The rally marks a bullish breakout from the three-month range that’s seen it stuck between $13 and $17, and signals a continuation of a comeback from June 2023 lows near $5. Source CryptoX Portal

OPNX Founder Su Zhu Says Exchange’s Closure Comes Because FTX Estate Claims Reached ‘Recovery’

“The FTX recovery marks the end of crypto claims estates. The OX community will be focusing on Ox.Fun now, and wish to congratulate the FTX estate holders on their full recovery,” Zhu said in a statement provided by co-founder Kyle Davies on Telegram. Davies said the two are advisers to Ox.Fun, a recently launched derivatives exchange, focused around the Ox token. Source

Forget Bitcoin, This Billionaire Is Betting Big On Solana For 2024

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In the dynamic world of cryptocurrency, Arthur Hayes, the former CEO of BitMEX, is painting an optimistic picture for the potential recovery and growth of Solana in the crypto market. Known for his adept navigation through market fluctuations, Hayes recently shed light on Solana’s positive trajectory, emerging from the shadows cast by the downfall and legal entanglements of FTX. Solana (SOL), once the favorite of the now-convicted founder Sam Bankman-Fried, had faced uncertain speculations about its destiny in the aftermath of the FTX collapse. However, Hayes’ sanguine remarks have reignited…

Launching Your Own Crypto Exchange in a Month

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One and a half trillion dollars. That is the staggering estimated value of the global crypto market (2023). Of course, with this soaring figure, also comes volatility. The crypto world is no stranger to turbulent times, with the industry still finding its feet under the backdrop of colossal growth and constantly evolving regulations. Increased scrutiny, high-profile media cases, and rife competition has seen the fall of big names, not to mention the rollercoaster for stigma and investor trust. Despite this, cryptocurrencies have yet again bounced back. With grandmasters of the…

Investopedia ranks XRP highly; Injective and NuggetRush bullish

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Investopedia ranks XRP highly INJ may rally to $88.50 in 2024. NuggetRush soaring in presale Investopedia ranks XRP highly despite Ripple’s legal troubles. Meanwhile, Injective (INJ) and NuggetRush (NUGX) are steady and moving higher. Investopedia ranks XRP Ripple has faced significant regulatory hurdles which have impacted XRP prices and position.  However, Investopedia has recognized XRP as the third most important coin after Bitcoin.  They noted that despite XRP price fluctuations, the…

Analyst Predicts Bitcoin Price By EOY Based On ETF Inflows

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In an analysis released via X, Thomas Young, managing partner at RUMJog Enterprises, is projecting a staggering upward trajectory for Bitcoin’s price by the end of the year, basing his predictions on the influence of Bitcoin Exchange-Traded Funds (ETFs) inflows. As NewsBTC reported, Grayscale’s GBTC outflows have slowed down significantly recently, resulting in constant net inflows over the past five consecutive days,ranging from $14.8 million to $247.1 million. The 118 Multiplier Concept The crux of Young’s analysis hinges on the concept of the ‘118 multiplier’, a metric introduced by Bank…