Category: Reviews

Ethereum Price Up by 6% as Investors Brace for January

The recent gains of Ether mean that its price is now up 15% in one month compared to SOL’s 82%. The price of Ethereum (ETH) gained on Wednesday to further signal an industry-wide expectation of a rallying outlook in January. This is as investors continue to move into position as they await the expected uptrend. However, Ether’s recent gain – though not entirely surprising – has been an interesting watch. According to CoinMetrics, ETH saw a 6% rise in its price on Wednesday, while Solana’s SOL token, one of the…

Chinese Capital Fund Unveils $10B Web3 Investment Fund

Over the past few weeks, the Web3 industry has witnessed a surge in funds from major capital firms, indicating a strong belief in the growth of this emerging economy. GBA Capital Fund, one of China’s leading venture capital companies, has announced the launch of a $10 billion investment fund dedicated to the Web3 ecosystem. According to local news media, the company announced during the just-concluded blockchain conference, the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference held on December 26. Supporting Innovation Across Web3 The $10 billion investment fund…

MicroStrategy Buys $615M Worth of Bitcoin, MSTR Stock Outperforms BTC 2:1

Analysts are characterizing MicroStrategy’s stock as akin to an “essentially a leveraged Bitcoin ETF” due to its exposure to the cryptocurrency. In the latest announcement on Wednesday, December 27, MicroStrategy Inc (NASDAQ: MSTR) acquired an additional 14,620 Bitcoins in the past month, spending $615.7 million at an average price of $42,110 per bitcoin, as outlined in a recent Form 8-K filing on its website. After MicroStrategy’s purchase, the Bitcoin (BTC) price has surged past $43,000 as of press time. As per the filing, MicroStrategy conducted the purchases between November 30…

Bitcoin Rally in 2023 Helped Crypto Firms to Contribute to Wall Street

Bitcoin mining inherently involves high energy costs due to the operation of supercomputers. The world’s largest cryptocurrency Bitcoin (BTC) made substantial gains surging by 160% this year in 2023. The rally in Bitcoin and the broader crypto market has also helped some of the US-listed crypto companies recover from the wounds of the 2022 crypto winter. While Bitcoin experienced a notable 150% rally throughout the year, shares of Coinbase, MicroStrategy, and the Grayscale Bitcoin Trust, closely linked to the digital currency, performed even more impressively, surging over 300% in value.…

Crypto Analyst Predicts XRP Price Will Explode 58,000% To $352

A crypto analyst has put together a bold prediction as to the future trajectory of the XRP price. Based on his prediction, the XRP community could see the crypto token’s price enter three digits soon enough.  XRP Price To Rise To $352 In a video posted on YouTube, the crypto analyst behind the JWK Show channel concluded that XRP’s price could potentially rise to as high as $352. He made this conclusion after using an XRP calculator. This calculator was invented based on a valuation model developed by Susan Athey,…

IOTA’s ShimmerEVM Bridge Goes Live in Strategic Linkup with LayerZero

The timing for the launch of the ShimmerEVM Bridge is a perfect one, considering the broader expansion underway in the IOTA ecosystem. The ShimmerEVM protocol from IOTA is advancing an impressive cross-chain interoperability protocol with the integration of LayerZero’s technology to enhance its bridging capabilities. As reported by Coindesk based on the scoop from the network’s developers, the Shimmer Bridge through which associated protocols can connect to other non-IOTA-based chains resident on LayerZero has officially gone live. As part of the Shimmer network, a testing ground for applications before they…

Cryptocurrency Hedge Funds Gearing for Strong 2024 after Last Year’s Crypto Winter

While the average performance of crypto funds did not match the more than 150% rally in Bitcoin this year, the positive shift in fortunes is a promising development for the industry. After facing a strong crypto winter in 2022 following the collapse of Three Arrows Capital (3AC), crypto hedge funds are making a comeback. Crypto hedge funds demonstrated a notable recovery, posting an average return of 44% by December 20, bouncing back from a 52% loss in 2022, according to a Bloomberg index monitoring their performance. Although this performance marked…

South Korea Takes Major Step towards Cryptocurrency Transparency: 5,800 Officials to Disclose Holdings in 2024

By compelling influential political leaders and bureaucrats to share their virtual currency investments, South Korea hopes to heighten transparency surrounding public-sector finances. South Korea is set to begin disclosing the cryptocurrency holdings of top public officials beginning in 2024, marking a monumental push toward transparency and accountability in government services. According to an announcement from the Ministry of Personnel Management, approximately 5,800 elected officials and government employees will need to report their crypto assets next year. The disclosures are part of South Korea’s public ethics and transparency initiative system, which…

Grayscale Files Amended ETF Application Following Silbert’s Resignation

The amended ETF application came after a series of meetings between Grayscale and the SEC in December. Leading asset manager Grayscale Investments has filed an amended S-3 application seeking to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. Bloomberg analyst James Seyffart confirmed the reapplication with the Securities and Exchange Commission (SEC) on Tuesday, just a few hours after the CEO of the firm’s parent company, Barry Silbert, resigned. Grayscale Finally Yields to SEC’s Pressure The amended application came after a series of meetings between Grayscale and…

BTC Price at $43K, ‘Smart Money’ Bets Big on Bitcoin Ahead of Potential BTC ETF Approval

The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days. Large investors have taken large long positions in the Bitcoin (BTC) futures market, indicating that institutional capital is flooding into the coin in anticipation of the SEC potentially approving a spot Bitcoin exchange-traded fund (ETF). Meanwhile, Bitcoin is trading today at around $43,000. According to data from MacroMicro, a leading derivatives analytics firm in Taiwan, the “smart money index”,…