Day: March 8, 2024

Bitcoin Hits New All-Time High, Surging Past $70,000 For The First Time In History

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Bitcoin (BTC), the dominant cryptocurrency, has made history by briefly breaking its consolidation phase and reaching an all-time high of $70,000. Despite encountering resistance near this level, Bitcoin’s market capitalization has reached $1.3 trillion, showcasing its continued upward momentum.  However, as the cryptocurrency faces a double top in the same price zone after almost three years, it must overcome a significant hurdle to consolidate above $69,000 and pave the way for further price gains. Bitcoin Sets New Record  In the past 24 hours, Bitcoin experienced a 2% uptrend, propelling it…

Ethena’s USDE Yield Hits 67%, Outpacing Most Stablecoin Returns

According to the most recent figures, Ethena’s USDE now boasts an APY of 67.2%, positioning it among the top annual percentage rates within the realm of stablecoin decentralized finance (defi). Furthermore, the supply of this stablecoin has expanded significantly, increasing by 414.6% in the last 30 days. Rapid Growth for Ethena’s USDE Currently, Ethena’s USDE […] Source CryptoX Portal

Here’s How Much Elon Musk’s Tesla And SpaceX Have Made From Their Bitcoin Holdings

A new report has revealed the total Bitcoin assets held by Elon Musk’s Tesla and SpaceX companies and how much profit they’re seeing so far.    Tesla And SpaceX Bitcoin Holdings Unveiled On Thursday, March 7, Arkham Intelligence, an AI-based blockchain analytics platform, revealed the Bitcoin holdings of SpaceX and Tesla, two companies co-founded by X (formerly Twitter) owner, Elon Musk. The comprehensive report also outlined Tesla’s BTC transactions spanning from 2021 to 2024. According to Arkham, Tesla had purchased about $1.5 billion worth of BTC in January 2021. Subsequently, the…

New Bitcoin ETFs and Grayscale Control a Combined 4% of BTC Supply, Valued at $53 Billion

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The latest figures reveal that the nine new spot bitcoin exchange-traded funds (ETFs) now control 390,525.3 bitcoins, valued at just over $26 billion at current market rates. These nine ETFs are rapidly approaching the holdings of Grayscale’s Bitcoin Trust (GBTC), which presently has 405,713.31 bitcoins in its possession. Emerging Bitcoin ETFs Challenge Grayscale’s Reign Collectively, […] Original

These Are The Ethereum Altcoins Witnessing High Whale Interest

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Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently. The indicator of relevance here is the “whale transaction count,” which keeps track of the total number of transfers taking place on the network for a given cryptocurrency that is valued at $100,000 or more.…

Bitcoin (BTC) Adds a Bit After Rise in Unemployment Rate

Disappointment about easier Fed policy, however, hasn’t translated into any difficulty in asset markets, where the major U.S. stock averages and the price of gold are all at or near all-time highs. As for bitcoin, it too has hit a new record this year, though any concerns about the economy or path of interest rates have taken a big back seat to the overwhelming demand from the spot ETFs. Source

First Mover Americas: Ether Approaches $4K

CryptoX – Cryptocurrency Analysis and News Portal The latest price moves in bitcoin (BTC) and crypto markets in context for March 8, 2024. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source The post First Mover Americas: Ether Approaches $4K appeared first on CryptoX. CryptoX Portal

Crypto Exchange COIN Upgraded to Neutral as Goldman Sachs Ends Bearish Stance

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The exchange has seen fundamental benefits from “increasing price on the simple trading platform, while maintaining market share, a renewed commitment to greater expense control and profitability in all market environments and tailwinds from higher interest rates as a result of COIN’s 50% revenue share of the interest income earned on USDC reserve balances,” the report added. Source