Day: May 18, 2024

This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here’s Why

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Crypto expert Michaël van de Poppe recently revealed that he had sold all his Bitcoin and rotated his capital to altcoins. The analyst explained the reason for this move and remarked that he was doing this to acquire more of the flagship crypto later on. Why This Analyst Swapped His Bitcoin For Altcoins In an X (formerly Twitter) post, Van de Poppe explained that altcoins have been “crushed unreasonably hard.” As such, he believes things can only improve from here on, noting that the “upside (for these altcoins) can’t be…

Blackrock Bitcoin ETF Attracts 414 Institutional Holders — Analyst Says IBIT ‘Blows Away Record’

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Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional […] Original

Crypto and banking: tokenization of the global financial system is yet to come

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. This is Part Two of a three-part series interview with William Quigley, a cryptocurrency and blockchain investor and co-founder of WAX and Tether, conducted by Selva Ozelli exclusively for crypto.news. Part One is about Sam Bankman-Fried’s and Changpeng Zhao’s prison sentences. Part Two is about cryptocurrency and banking. Part Three is about the future of NFTs. 1) In Part One of our interview, you indicated that you…

China’s $53.3B Divestment in US Treasuries Signals Massive Shift From Dollar Assets

According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Mid-May NFT Sales Drop by 8.97%, Top 4 Chains See Reductions

Between May 10 and May 17, non-fungible token (NFT) sales totaled $150.56 million, marking an 8.97% decline from the previous week’s figures. NFT sales have consistently decreased on a weekly basis, as four out of the top five blockchains by sales volume experienced reductions during this period. NFT Market Sees Consistent Decline In February, from […] Source CryptoX Portal

Memecoin Eyes New Highs as OI Soars

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Floki Inu (FLOKI), the Shiba Inu-inspired memecoin, has rocketed into the spotlight with a surge in trading activity and a nearly 20% price increase in the past week. However, experts caution that this “pup-ularity” might be short-lived, fueled more by hype than by strong foundations. Related Reading Open Interest Takes Off: Newcomers Flock To FLOKI The key indicator driving excitement is the skyrocketing Futures Open Interest for FLOKI. According to Coinglass, this figure, which reflects the number of outstanding futures contracts, has climbed a staggering 110% since May 1st, reaching…

AntPool mines 7 consecutive blocks, ‘centralization trend’ continues

AntPool, the second-largest Bitcoin (BTC) mining pool, mined seven consecutive blocks on May 17, sparking worries within the cryptocurrency community about network security.  This series of blocks confirmed 20,686 transactions, resulting in over 23 BTC, valued at approximately $1.54 million in revenue. The mining spree occurred between block heights 843,898 and 843,904, lasting one hour and 38 minutes. Data sourced from mempool.space reveals that AntPool accrued 1.283 BTC in fees in addition to 21.875 BTC from the block subsidy. What adds intrigue to this development is the involvement of Foundry…

Cardano Whales Return To The Table, Increase Massive Holdings By 10%

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Cardano (ADA) whales are back in the picture, with recent data suggesting their confidence in the crypto token may have been revived. If so, this will be massive for ADA, which could experience significant price surges soon enough based on this development.  Related Reading Cardano Whales Add To Their Holdings The market intelligence platform IntoTheBlock recently revealed in an X (formerly Twitter) post that Cardano whales (who hold between 100 million and 1 billion ADA) have now added 11% to their balances over the past 30 days. These investors now…

Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report

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The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could ban the largest stablecoins by trading volume. MiCA is the upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law also includes measures that aim…