Day: March 5, 2024

Kelexo soars amid crypto market surge in 2024

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As BTC and ETH hit new highs, KLXO presale shines, promising a new approach in P2P lending amidst a buoyant crypto market. As Bitcoin (BTC) and Ethereum (ETH) continue their upward trajectory, the cryptocurrency market is witnessing an unprecedented surge, setting new highs in 2024. Bitcoin has climbed above $66,000, showcasing a remarkable increase in its monthly price of 55.73%. Despite facing rejection and retracement after reaching $64,000, Bitcoin…

Bitcoin nears new high; new project offers rewards for BTC prediction

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin is close to reaching an all-time high, trading just below $69k, amid mixed analyst sentiments and the launch of a new project. Bitcoin is on the brink of setting a new all-time high, with its price currently at $68.3K, a mere 0.83% shy of its record peak. The cryptocurrency has seen a significant increase, rising over 7% in the past day, raising anticipation of surpassing the previous $69K…

Crypto Seeks to Make Mark on U.S. Elections During 'Super Tuesday'

The long list of primary elections Tuesday across 15 U.S. states will steer the fates of many seats in Congress and further solidifies the presidential showdown later this year, but Coinbase CEO Brian Armstrong said it’s also a “chance to send a message” to federal politicians who’ve declined to come up with crypto policies. Source

Fantom Launches Recovery Plan For Funds Lost In Multichain’s $200M Exploit, FTM Soars

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The Fantom (FTM) Foundation has taken decisive steps to recover assets lost in the Multichain exploit that devastated various chains, including its own, resulting in a staggering $210 million loss. After failed attempts to engage with the Multichain Foundation, the Protocol has announced that it filed a lawsuit for “breach of contract” and “fraudulent misrepresentations.”  Fantom Foundation Takes Legal Action Against Multichain The exploit, which occurred in July 2023, targeted the Multichain bridge and affected multiple chains, including Fantom, Ethereum (ETH), Binance’s BNB, Cronos (CRO), Polygon (MATIC), Arbitrum (ARB), zkSync,…

BlackRock’s IBIT BTC ETF Hits Record Volume

The ten ETFs topped $10 billion in trading volume during the session, breaking last week’s daily record, according to Bloomberg data compiled by Eric Balchunas, ETF analyst at Bloomberg Intelligence. BlackRock’s IBIT, Fidelity’s FBTC, Bitwise’s BITB and ARKB, co-managed by Ark Invest and 21Shares, all broke their personal volume records, Balchunas noted. Source CryptoX Portal

Traditional investors prefer Bitcoin ETFs to gold 

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Investor sentiment in Bitcoin ETFs reflects a growing preference for the crypto over traditional gold despite both reaching unprecedented price levels. Bitcoin and gold are often seen as protective measures against inflation and valuable assets, but this year has marked a notable divergence in investor behavior. Recent data reveals gold ETFs experienced withdrawals totaling approximately $4.6 billion.  Conversely, Bitcoin ETFs approved by the SEC on Jan. 11 witnessed $8 billion in net investments, marking a record debut for the financial instruments. There is no second best! #Bitcoin absolutely demolishing gold…

Osprey Bitcoin Trust aims to merge, may be sold to existing Bitcoin ETF

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Osprey Bitcoin Trust, a Delaware statutory trust, has acknowledged that its units are trading at a discount to Bitcoin’s value. The trust’s sponsor, Osprey Funds, LLC, is exploring strategic options to enhance unitholder value, including a potential sale or merger with a Bitcoin ETF. If unsuccessful, the sponsor plans to liquidate the trust within 180 days. Additionally, the trust intends to terminate the registration of its units under the Securities Exchange Act of 1934 by filing a Form 15 with the SEC. This will suspend its obligation to file specific…

Binance.US Not Being Totally Forthcoming, SEC Complains in New Filing

“Moreover, discovery has revealed that BHL can at least effect transfers of BAM’s crypto assets from customer deposit wallets to hot wallets when transfers get ‘stuck’ while using the PNK system. BAM’s Head of Clearing, Tao Zhang, testified that he routinely reaches out to a chat group involving BHL employees that he calls the ‘BHL wallet team’ when BAM’s clearing team has ‘technical issues’ with respect to asset movement,” the filing said. Source

The Ethereum Foundation Is Selling ETH Again, Is The Top In?

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The Ethereum Foundation, a non-profit organization, has initiated an unexpected ETH sell-off to a single address, prompting speculation about a potential market peak.  Ethereum Foundation Executes Multiple ETH Transfers On Monday, March 4, Blockchain analytics platform LookOnChain revealed a series of transactions executed by a wallet address related to the Ethereum Foundation. Sharing a screenshot of the transaction details on X (formerly Twitter), LookOnchain disclosed that the Ethereum Foundation had initiated three ETH transactions to a single wallet address identified as “Cumberland Forwarder”.  Among these transfers, two involved selling off…

Grayscale fields crypto staking ETF

Grayscale is offering an investment vehicle focused on specific proof-of-stake network tokens as it awaits an SEC verdict on its spot Ethereum ETF application.  Grayscale Advisors LLC, a subsidiary of the firm behind the most significant spot Bitcoin (BTC) ETF, introduced its latest product to capitalize on staking rewards amid a boom in the crypto market and surging staking ratios on blockchains like Ethereum (ETH). The Grayscale Dynamic Income Fund (GDIF) invests in proof-of-stake (PoS) native tokens to generate yield and distribute this income to investors per quarter.  Staking is…