Day: March 12, 2024

Bitcoin’s all-time high leads to record $600m liquidity depth

boss

The depth of the Bitcoin market reached a record $600 million, coinciding with Bitcoin’s recent all-time high. Experts added that this situation indicates traders are taking profits as the historical maximum is renewed. On March 4, open interest in Bitcoin (BTC) perpetual contracts jumped nearly $2 billion to a multi-year high of $15 billion before falling $1.4 billion the next day. Experts concluded that the preservation of financing rates near the peaks indicates the stability of demand for the asset. However, on-chain analysis showed a relatively slow increase in new…

Solana Demand Soars As Institutions Buy Up SOL At A Massive 870% Premium

boss

Solana (SOL) looks to be attracting the attention of institutional investors, with this Solana fund trading as high as an 870% premium following SOL’s bullish momentum. These investors’ interest in the SOL token isn’t surprising as on-chain metrics suggest it is still undervalued, and a parabolic rise might be on the horizon.  Grayscale Solana Trust Trades At A Premium  Per data from Grayscale’s website, the Grayscale Solana Trust (GSOL) is currently trading at $317 per share, representing a significant premium from SOL’s current price. The premium had risen to 870%…

Coinbase CEO discusses Bitcoin’s necessity in light of US debt growth

boss

Coinbase CEO Brian Armstrong explains the importance of Bitcoin in response to the United States’ $30 trillion surge in national debt over the last 28 years. In the context of the United States’ burgeoning national debt, Robert Sterling, CFO of 20 Dollar Consulting, highlights the alarming rate at which the U.S. debt has grown, underscoring a bipartisan trend of fiscal expansion under successive administrations. Sterling points out that the acceleration of debt accumulation began with George W. Bush and continued through the previous three presidencies. Significant milestones were crossed in…

NFT Providers May Need FCA Registration to Comply With UK Money Laundering Rules

The government has been refining its crypto regulation environment, and last year said it planned to bring crypto exchanges and custody providers into the new crypto authorization regime. Currently, the firms must be registered with the FCA, which covers money laundering and terrorism financing safeguards, to be able to operate in the country. Once the new regime is up and running, that won’t be necessary. Source

Avalanche and Solana Led CoinDesk 20 Gainers Last Week

The CoinDesk 20 tracks the world’s largest and most-liquid cryptocurrencies in an investible index available on multiple platforms. The broader CoinDesk Market Index comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization. Source

Grayscale proposes Bitcoin Mini Trust ETF, aims for lower fees

boss

Grayscale is seeking the SEC’s approval for a Bitcoin Mini Trust to reduce its Bitcoin ETF fees.  The mini trust aims to offer a more cost-effective option to the company’s existing $28 billion GBTC spot Bitcoin ETF. The proposal, detailed in a recent SEC filing, outlines Grayscale’s strategy to fund this new offering by reallocating a portion of the shares from its GBTC ETF. The introduction of the Grayscale Bitcoin Mini Trust aims to lower the aggregate fees for current GBTC investors, promising them a reduction in expenses without the…

Ether.Fi to Introduce ETHFI Token on Binance Launchpool Next Week

“Users will be able to stake their BNB and FDUSD into separate pools to farm ETHFI tokens over four days,” with farming starting at 00:00 UTC on March 14, Binance said. “Binance will then list ETHFI at 12:00 UTC on March 18.” Trading pairs will be available in ETHFI versus bitcoin (BTC), stablecoin (USDT) and BNB TOKEN, among others. Source