Day: April 29, 2025

Ethereum price has several reasons to break $2,000 next

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Key takeaways: Strong Ethereum ETF inflows signal high institutional demand. Ethereum’s $51.8B TVL and 30% DEX weekly volume rise show robust network strength. A bull flag pattern on the ETH’s four-hour chart targets $2,100. Ether’s (ETH) price rose to a new range high at $1,860 on April 28, its highest value since April 2. Several analysts argue that the ETH price needs to hold above $1,800 to increase the chances of rising higher. “Once ETH confirms this 4H close above resistance [$1,800], Ether and altcoins will finally get their time…

Beijing to invest in blockchain, integrate into infrastructure

The Beijing city administration has announced a plan for local blockchain development and implementation over the next two years. According to an April 29 announcement, the plan was jointly developed by the Beijing Municipal Science and Technology Commission, the Zhongguancun Administrative Committee, the Cyberspace Administration Office, the Bureau of Government Services and Data, the Bureau of Economy and Information Technology and the Bureau of Commerce. The implementation is expected to start this year and continue until 2027. The announcement. Source: Beijing government The Beijing Blockchain Innovation and Application Development Action…

Bitcoin To Explode To $210,000 In 2025: Quant Powerhouse Presto

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. In a live interview on CNBC’s Squawk Box on Monday, Peter Chung, Head of Research at quantitative trading firm Presto, reaffirmed his conviction that Bitcoin can reach $210,000 before…

Circle Secures Abu Dhabi Approval Amid Global Expansion

Key Notes USDC parent company Circle can now operate as a money services provider in Abu Dhabi. The company is not yet fully licensed to operate but is considered compliant with existing regulations. Its expansion in the UAE also features an earlier approval from the Dubai Financial Services Authority (DFSA). . Circle Internet Financial, the USDC stablecoin issuer, has received the in-principle approval from Abu Dhabi regulators. With the approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), the firm can now serve as a money…

Loopscale Recovers $2.8M After DeFi Hack Amid Bounty Talks

Key Notes Loopscale recouped $2.8M after a weekend hack targeting its vaults. The protocol introduced a bounty program, offering 10% of stolen funds to the hacker. Loopscale remains optimistic about recovering additional stolen assets. Loopscale is one of the latest decentralized finance platforms to fall victim to an exploitation, resulting in a $5.7 million loss. The attackers manipulated the RateX PT token pricing, enabling them to steal from its USDC and SOL vaults. The hack occurred over the weekend, and Loopscale has since disclosed that, after negotiating with the hacker,…

A16z leads $25M funding for Miden blockchain project

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A16z Crypto led a $25 million investment round into Miden, an independent blockchain project spun out of Polygon Labs. Miden closed its $25 million seed rounds led by a16z Crypto, 1kx, and Hack VC, with participation from Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, MH Ventures, as well as from angel investors, including MakerDAO’s Rune Christensen and EigenLayer’s Sreeram Kannan. Miden is a zero-knowledge (ZK) proof-powered blockchain focused on high scalability through its hybrid consensus mode, which moves transaction execution from the mainnet on “edge devices,” referring to…

Bitcoin Profit Supply Hits Historic High: Is $100K Next?

Key Notes Bitcoin’s supply in profit has exceeded 85%, nearing the historic 90% euphoria threshold. Whale wallets have recorded $150B in unrealized profits since the start of April. Bitcoin’s 30-day demand momentum remains negative, signaling potential resistance ahead. Bitcoin’s recent move above the $94,000 range has sparked discussions of a possible parabolic shift, especially as on-chain metrics show signs of approaching euphoria. One such metric, the “supply in profit,” has now rebounded above 85%, inching close to a major 90% threshold. Historically, this level has acted as a trigger point,…

Technical Indicators Suggest Bitcoin May Reach $120,000 In Q2, Says Standard Chartered

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. A recent forecast by financial services company Standard Chartered, indicates that the market’s leading cryptocurrency, Bitcoin (BTC), would hit new record highs of almost $120,000 in the second quarter…

Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia

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Bitcoin mining firm Phoenix Group announced the addition of 52 megawatts (MW) worth of mining capacity to its capabilities in Ethiopia. According to an April 29 announcement, with this latest addition, Phoenix’s Bitcoin mining capacity in Ethiopia reaches 132 MW. The firm’s global capacity now reportedly exceeds 500 MW. Phoenix’s co-founder and CEO, Munaf Ali, said the firm’s strategy relies on “securing prime locations with abundant, low-cost energy.” “Initiatives like our latest expansion in Ethiopia are pivotal steps, not only creating significant value today but also solidifying our position,” he…

Latam’s Strategy Rises: Oranje Aims to Invest More Than $200 Million in Bitcoin

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Oranje, which is receiving advice from Itau BBA, Itau’s investment bank, aims to mimic the moves of Michael Saylor’s Strategy in Brazil and Latin America. The company was founded by crypto industry heavyweights Guilherme Gomes, formerly of Swan Bitcoin, and Guilherme Ferreira, president of Bahema. Oranje Prepared to Acquire Over $200 Million in BTC, Following […] Original