NYSE celebrates historic 'first trades' with NFT series

The New York Stock Exchange, or NYSE, has jumped on the NFT bandwagon by minting nonfungible tokens celebrating the first trade made in the shares of prominent U.S. companies. In an April 13th announcement, NYSE’s president, Stacey Cunningham, described NFTs as a “new, fun way to mark the moment” of a company’s first trade on the NYSE. The first six NYSE NFTs commemorating the first trades for Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang, with Cunningham confirming “there will be many more NYSE NFTs to come.” The first NFTs are already…

Coinbase handled trades and custody for Meitu's $90M crypto investment

Crypto exchange Coinbase's institutional custody platform helped execute the purchase and custodying of roughly $90 million of Bitcoin and Ether for Chinese tech company Meitu. In a blog from Coinbase today, the United States-based crypto exchange said Meitu used its services to execute up to $90 million worth of crypto transactions “across multiple marketplaces with minimal market impact.” This month, the tech firm purchased 379 Bitcoin (BTC) for roughly $17.9 million and 15,000 Ether (ETH) for $22.1 million, followed by 386.08 BTC for $21.6 million and 16,000 ETH for $28.4…

Long-term investors are hodling, with 95% of Bitcoin trades involving ‘young coins’

According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain. Glassnode’s March 15 The Week On-Chain report found that just 5% of spent outputs are more than 90 days old, indicating the vast majority of BTC moving on-chain are “young coins.” Other data from Glassnode has found that addresses that have been hodling BTC for at least three years have significantly increased their holdings over the past six to 12 months, while short-term holders…

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Grayscale Litecoin (LTC) Trust Trades at 1800% Premium, Charlie Lee Compares NFTs to ICO Mania

LTCN shares are trading 20 times lower in comparison to the LTC holdings per share by Grayscale. Thus, it’s 20 times more expensive to buy Litecoin via Grayscale than directly through the spot exchange.  The world’s eighth-largest cryptocurrency Litecoin (LTC) is up 13% today and is just short of $200. At press time, LTC is trading at a price of $194.9 with a market cap of $12.9 billion. Interestingly, investors seeking exposure to LTC via the Grayscale Litecoin Trust are paying a premium of 1800%. The shares of Grayscale Litecoin…

Altcoins bounce to new highs as Bitcoin price trades sideways under $50K

The cryptocurrency market recovered some of the losses from the past couple of days on Feb. 25 as Bitcoin (BTC) briefly pushed back above the $50,000 level and multiple altcoins have seen double-digit price gains.  Data from Cointelegraph Markets and TradingView shows that Bitcoin bounced off a low of $45,200 late on Feb. 24 before rallying 15% to the $52,000 in the morning trading session. BTC/USDT 4-hour chart. Source: TradingView While the rebound in the cryptocurrency market is a welcome sight for bullish investors, Bitcoin price is still finding resistance…

Binance Coin (BNB) Trades To Record High At $175, $200 Still Possible

Binance coin price is up over 20% and it is outperforming bitcoin against the USDT. BNB rallied above $150 and traded to a new all-time high at $176. Binance coin price is gaining bullish momentum above the $150 level against the USDT. The price is up over 20% and it traded to a new all-time high near $176. There was a break above a major bearish trend line with resistance near $130 on the 4-hours chart of the BNB/USDT pair (data source from Binance). There could be a short-term downside…

Elon Musk Uncovers Facts Behind Robinhood Restricting Trades on Hot Stocks Like Gamestop – Featured Bitcoin News

Spacex and Tesla CEO Elon Musk has been trying to get to the bottom of what happened with the popular trading app Robinhood when it stopped people from buying shares of hot stocks, like Gamestop. The shares of these stocks became popular due to the Wallstreetbets movement. Elon Musk Says People Want the Truth From Robinhood During an interview on The Good Time Show via the Clubhouse app Sunday night, Elon Musk grilled the CEO of trading app Robinhood, Vlad Tenev, over the company’s decision to restrict hot stocks last…

Institutional frenzy continues as CME Bitcoin trades at over 1% premium

After a surprise rally fueled by an update to Elon Musk’s Twitter biography, demand for Bitcoin (BTC) appears to be particularly strong in professional trading circles. According to TradingView data, the ticker BTC1!, which represents CME’s Bitcoin futures contracts with the closest expiry — currently for February — is trading at over a 1% premium over spot BTC markets. This positive deviation in prices between a future and the underlying — which traders call "contango" — indicates that few institutions are willing to be short on the asset. Since this…