Month: February 2024

Coinbase, Circle push for US action against Tether, non-compliant firms

Coinbase and Circle executives have called on the U.S. authorities to intensify actions against Tether and offshore crypto firms that fail to comply with regulations. During a session with the House Financial Services Committee, Grant Rabenn, the head of Financial Crimes Legal at Coinbase, discussed the issue of criminals exploiting foreign platforms to bypass the strict anti-money laundering (AML) standards applied to regulated exchanges within the United States. Rabenn mentioned that the Office of Foreign Assets Control (OFAC) has only sanctioned 560 crypto addresses. However, Coinbase investigation found more than…

Bitcoin ETFs Threaten Gold’s Dominance As Digitalization Trends Gain Momentum

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In just over a month since their approval by the US Securities and Exchange Commission (SEC), Bitcoin ETFs have swiftly gained traction in the market, posing a formidable challenge to the long-standing dominance of gold ETFs. Bitcoin ETFs Gain Ground on Gold ETFs The rapid rise of Bitcoin ETFs has led to a convergence in asset values, with BTC ETFs closing the gap with gold ETFs. Bitcoin ETFs hold approximately $37 billion in assets after only 25 trading days, while gold ETFs have accumulated $93 billion in over 20 years…

Siacoin rises 20%, signaling decentralized cloud storage demand

Siacoin (SC) jumped as high as 20% in 24 hours as liquidity rotated around crypto’s $2 trillion market. Siacoin is the native token decentralized cloud storage blockchain Sia, launched in 2015 for users to rent out unused storage. SC’s market cap increased to $733 million as the price rose, and its daily trading volume surged 38% to nearly $200 million per CoinMarketCap. Siacoin price | Source: CoinMarketCap One of crypto’s underlying missions is fixing concerns in traditional and centralized services. Sticking to this ethos, Sia plans to provide trustless access…

Altcoins Like Solana And Ethereum Are About To Explode: Analyst

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A technical indicator shift has sparked predictions of an imminent altcoin surge, with one analyst on X forecasting gains as sharp as those posted in 2017 and 2021. This Technical Indicator Just Shifted To Green Taking to X, the analyst said this optimism follows a change in the Gaussian Channel, a technical indicator used to assess market momentum. On X, the trader notes that the Gaussian Channel has, after weeks, flipped from red to green. Reading from historical performance and indicator changes suggests that there could be a bullish shift for leading…

Coinbase Vaults Beyond 1 Million Bitcoin Mark, Stash Valued Over $52 Billion

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On Friday, Feb. 16, 2024, bitcoin’s value hovered between $51,850 to $52,350, with onchain insights from Arkham Intelligence revealing that the Nasdaq-listed crypto exchange giant, Coinbase, now possesses over 1 million bitcoin. Based on the current market prices, the stash secured by the San Francisco-headquartered firm is valued at just above $52 billion. Coinbase Outshines […] Original

I Am Hip Hop TV Redefines Digital Media Distribution Landscape

PRESS RELEASE. February 16, 2024 – I Am Hip Hop TV, a pioneering startup dedicated to revolutionizing digital media distribution, announces its strategic approach to enhancing brand visibility and driving engagement across major social media platforms. With a focus on inciting meaningful user interaction that translates into increased awareness and sales conversions, the company has […] Source CryptoX Portal

Market Cap Skyrockets By 344%

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Avalanche (AVAX), the blockchain platform known for its scalability and infrastructure, made significant strides in the fourth quarter (Q4) of 2023. According to a report by Messari, AVAX emerged as one of the best-performing tokens, driving the protocol to record notable gains in key metrics. Record-Breaking Milestones For Avalanche  The report shows that AVAX experienced a notable increase in its market cap, which climbed 344% quarter-over-quarter (QoQ) and 326% year-over-year (YoY), reaching $14.4 billion at the end of the year. This large increase propelled AVAX’s market cap rank among all…

Bitcoin (BTC) Price Stall at $52K May Foreshadow Pullback, But It’s a Potential Buying Opportunity

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The largest crypto by market cap rallied 10% in a week, outperforming the broad-market CoinDesk20 Index’s (CD20) 8% advance, extending its relentless rise from $38,500 in late January. The surge was coupled with accelerating inflows into U.S. spot bitcoin exchange-traded funds (ETF), with BlackRock’s IBIT raking in over 28,000 bitcoin this week. Original

What the Warren/Satoshi Flag Moment Means

While there doesn’t appear to be a record online of the flag being flown (or any documented evidence, for that matter), the anonymous prankster did send the certificates Sen. Warren’s office signed to PubKey, a waterhole for Bitcoiners in downtown New York City. Last night, comedian T.J. Miller revealed the documents at the establishment, PubKey’s head of marketing Daniel Modell said in an interview with CoinDesk. Source

Bitcoin Short-Term Holders Just Locked In $647 Million In Profits

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On-chain data from Glassnode shows that the Bitcoin short-term holders have recently participated in a massive $647 million profit-taking event. Bitcoin Short-Term Holders Have Realized Large Net Profits Recently According to data from the on-chain analytics firm Glassnode, the short-term holders have given a strong reaction to the $52,000 break. The “short-term holders” (STHs) here refer to the Bitcoin investors who bought their coins within the past 155 days. Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. The STHs…