Month: February 2024

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…

Analyst Predicts Price To Soar To $500,000

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As Bitcoin makes its way through the erratic waves of the cryptocurrency market, crypto analysts are still bullish about the asset, predicting BTC to reach unprecedented heights in the long run.  Bitcoin To Reach $500,000 In The Long-Term Bitcoin is currently in the spotlight as crypto expert Michael Van De Poppe has shared a bold prediction regarding BTC’s future with the community on the social media platform X (formerly Twitter).  According to Poppe, Bitcoin is presently experiencing an “overly bullish sentiment” from market participants within the cryptocurrency space. Due to…

Bitcoin Price Rally at Risk at Miners Offload $8.2B BTC

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Bitcoin’s price tumbled to a weekly low of $50,664 on Feb. 21, narrowly avoiding massive liquidations; on-chain data analysis pinpoints the likely causes of the recent pullbacks.  After a remarkable 27% February uptick that saw Bitcoin (BTC) hit a 3-year peak of $52,985 on Feb. 20, Bitcoin is struggling to maintain momentum.  With miners ramping up profit-taking ahead of the upcoming halving event, a decline in ETF inflows threatens to scuttle the BTC price rally.  Bitcoin miners sold BTC worth $8.2 billion in previous 30 days Bitcoin price dipped $50,664…

Sustainable Energy Usage Surges To Record 55% High

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Bitcoin, the enigmatic cryptocurrency known for its volatile price swings and digital gold status, is making a surprising play for a new title: sustainability champion. A recent analysis by Bitcoin environmental impact expert Daniel Batten reveals a remarkable surge in renewable energy use for mining, reaching a staggering 55%. This marks a significant shift from just four years ago, when the figure languished below 40%, and paints a picture of an industry undergoing a green metamorphosis. From Carbon Culprit To Clean Crusader? Bitcoin’s mining process, essential for creating new coins,…

DeFi Startup Euler Finance Bounces Back with Revamped Lending Vaults

Following the Lego-like power principle of DeFi, the new system combines building blocks like Euler Vault Kit (EVK), which empowers builders to deploy and chain together their own customized lending vaults in a permissionless manner, and an Ethereum Vault Connector (EVC), which enables vaults to be used as collateral for other vaults, the company said in a press release. Source