Day: November 2, 2024

Kraken bags $42.5m from Optimism, Glow Labs raises $30m

This week, crypto exchange Kraken stole the show with its $42.5 million grant raise from Optimism. Kraken has disclosed its latest decision to launch Ink, a layer-2 on the Optimism (OP) blockchain. As a part of the deal, Optimism has announced that they will offer $42.5 million, or 25 million OP tokens. This has brought the exchange’s funds raised to date to $164.8 million. Crypto.news dug deeper into the firms that raised the most capital from Oct. 27 to Nov 2. Here are the firms that bagged million-dollar amounts during…

Crypto Giant 21Shares Submits Registration Statement for XRP Exchange-Traded Fund

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The crypto exchange-traded fund (ETF) provider 21Shares is now trying to launch an XRP-focused ETF in the United States. The firm filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC) on Friday. The proposed product, called “the 21Shares Core XRP Trust,” is a passive investment vehicle that tracks the price of the payments altcoin. 21Shares isn’t the first firm to try to get the crypto product off the ground. Bitwise Asset Management, the largest digital asset index fund manager in the US, filed an initial registration…

Solana Headed For Correction Before Bounce – Analyst Sets $180 Target

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Este artículo también está disponible en español. Solana (SOL) is trading around a crucial demand level at $165, following a pullback from recent highs of $183. This level is pivotal for SOL, as losing it could trigger a deeper correction, putting the altcoin at risk of further downside.  However, prominent analyst Carl Runefelt has shared technical analysis indicating that Solana may be primed for a brief correction before staging a rally to retest local highs. Related Reading Runefelt’s analysis highlights signs of renewed strength for SOL, suggesting that the altcoin…

The US Election is Just Days Away: Which Party is Best for Bitcoin Mining Stocks?

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Ever wondered how U.S. presidential elections impact the stock market? We explore historical trends, stock market predictions, and Bitcoin price movements under different administrations. The following guest post comes from Bitcoinminingstock.io, providing comprehensive data, in-depth research, and analyses on Bitcoin mining stocks. Originally published on Oct. 30, 2024, it was penned by Bitcoinminingstock.io author Cindy […] Original

US Treasury Yield Curve Bear Steepens as 2024 Election Looms, Economic Concerns Mount

The U.S. Treasury yield curve is undergoing a notable bear steepening, a trend signaling rising economic jitters as the 2024 election nears, with the Federal Open Market Committee (FOMC) meeting close behind. Rising U.S. Treasury Yields Could Spell Trouble for 2025 Economy As the U.S. approaches the 2024 election, economic indicators are signaling turbulence ahead, […] Source CryptoX Portal

Bitcoin ETFs Crucial To Sustain Current Buying Pressure

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

Bitcoin On-Chain Indicator Signals Panic Selling At Current Levels – Time To HODL?

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Este artículo también está disponible en español. Bitcoin is showing resilience, holding firm above the $69,000 mark after a slight pullback from recent local highs at $73,600. Following weeks of bullish momentum and nearing its all-time high, BTC has settled just below the critical $73,794 resistance, a key level that, if surpassed, would push the cryptocurrency into price discovery mode.  According to data from CryptoQuant, short-term holders are experiencing a net profit-to-loss of negative 20 BTC, indicating a wave of panic selling among retail investors. This type of behavior, often…