March 22, 2024

FXS Price Poised For Uptrend As Frax Finance Unveils Roadmap To Reach $100B TVL

March 22, 2024 boss

Frax Finance, a decentralized finance (DeFi) protocol, recently unveiled its Singularity Roadmap. It aims to propel the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to $100 billion by the end of 2026. This notable surge would represent a 760,000% increase from the current TVL levels, which stand at $13 million. Frax Finance Singularity Roadmap According to the protocol’s announcement, Fraxtal, the substrate that powers the Frax ecosystem, serves as Frax Finance’s operating system. With the launch of Fraxtal and achieving an effective 100% Collateralization Ratio (CR), Frax…

Crypto Economy Dips by 4.38% Amidst Mixed Fortunes for Top Coins

March 22, 2024

As the weekend approaches, the crypto economy experienced a downturn, declining 4.38% in the past 24 hours to a total value of $2.42 trillion. Bitcoin saw a decrease of 5.5% against the U.S. dollar during this period, while ethereum’s value dropped by 5.3%. In contrast, fantom (FTM) enjoyed a 12% increase, and aptos (APT) rose […] Source CryptoX Portal

Bitcoin Market Cap Hints at Potential Price Surge After Retesting 2021 Highs

March 22, 2024 boss

A crypto analyst on X is confident that Bitcoin has bottomed and is poised for major gains in the sessions ahead. Interestingly, the bullish outlook hinges on the Bitcoin market cap retesting all-time highs at press time. Will BTC Rally? Market Dynamics Changing So far, the Bitcoin price is around 2021 highs in USD terms but recently broke all-time highs, peaking at around $73,800. This fluctuation is also reflected in its market cap. It currently stands at $1.25 trillion, down 5% in the past 24 hours. Notably, it is at the same…

Remembering ‘True Names’ Author Vernor Vinge

March 22, 2024

Vinge, born Oct. 2, 1944 in Wisconsin, was also a beloved professor of mathematics and computer science at San Diego State University, where he received a PhD in math in 1971. In 2000, he retired from academia to write hard science fiction full time. Source

Bitcoin Troubles Far From Over As More Carnage Looms, JPMorgan Analysts

March 22, 2024 boss

Despite optimism about Bitcoin’s future trajectory heading into the Bitcoin Halving, analysts at JPMorgan have raised concerns that things may not go according to everyone’s expectations. They believe that a storm still lies ahead for the flagship crypto token before any massive move to the upside. Further Bitcoin Pullbacks Are To Be Expected According to a Bloomberg report, JPMorgan strategists have warned that Bitcoin could still experience further pullbacks following its recent decline. They alluded to the recent net outflows recorded by the Spot Bitcoin ETFs, which underscored the current…

Ark Invest Shifts Portfolio, Swaps Coinbase and Robinhood for Newly IPO’d Reddit Shares

March 22, 2024

On Thursday, Ark Invest parted ways with 133,533 Coinbase shares from its Ark Innovation exchange-traded fund (ARKK) and also disposed of 96,003 Robinhood shares from the ARKW ETF. Following these divestments, Ark Invest acquired Reddit shares for both the ARKW and ARKF ETFs. Ark’s Portfolio Pivot: COIN, HOOD Out, RDDT In This week, Cathie Wood‘s […] Source BitcoincryptoexchangeExchanges CryptoX Portal

BlackRock increases Bitcoin holdings to 242k despite record ETF outflows

March 22, 2024 boss

The world’s largest asset management company, BlackRock, has increased the amount of Bitcoin on its balance sheet. According to the website, BlackRock has increased the amount of Bitcoin (BTC) in its iShares Bitcoin Trust (IBIT) to 242,829. The volume of assets under management in the fund’s spot Bitcoin ETF reached $15.5 billion at the current exchange rate. Source: iShares Fox journalist Eleanor Terrett also reported that BlackRock’s Head of Digital Assets, Robert Mitchnick, noted that Bitcoin is the top priority for the company’s clients, followed by Ethereum. 🚨NEW: @BlackRock’s Head…

U.S. SEC’s Gensler Says Crypto Firms Skip Public Disclosures by Dodging Registration

March 22, 2024

Gensler, whose tenure atop the agency has been marked by a legal crusade against what he argues is a largely noncompliant industry, suggested that digital assets businesses are among those seeking to “whittle away at the SEC’s disclosure regime,” which requires companies to register securities and provide information to investors about them. Source

What can the past Bitcoin halving cycles tell us about its future?

March 22, 2024 boss

Bitcoin’s current behavior mirrors its path in a previous halving cycle. What can we expect from the next halving? Following the U.S. SEC’s approval of spot ETFs on Jan. 11, Bitcoin (BTC)began a bullish streak, soaring to impressive heights. Bitcoin hit a new all-time high of $73,750 on Mar. 14. However, this peak was short-lived as Bitcoin experienced a correction, dropping to levels around $60,000 to $61,000 on Mar. 20. Amid bullish sentiments, Bitcoin recovered from this dip. As of Mar. 22, it trades at around $63,000. According to a…

Grayscale GBTC Outflows in Focus on Bitcoin Price (BTC) Slides to $64K

March 22, 2024 boss

The weak price action comes as U.S.-listed spot bitcoin ETFs have suffered what’s now four consecutive days of net negative flows. To be sure, nearly all the funds continue to see inflows, but each day this week, they’ve not been nearly enough to offset massive outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday, GBTC saw $359 million in outflows, leading to $94 million in outflows for the entire fund group. Fidelity’s Wise Origin Bitcoin Fund (FBTC) garnered the lowest daily inflow in its history, data compiled by BitMEX Research…