Tag: Altcoins

Celsius Network approved to convert altcoins into BTC or ETH

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The United States Bankruptcy Court for the Southern District of New York has approved bankrupt crypto lender Celsius Network’s plan to convert its altcoins into Bitcoin (BTC) and Ether (ETH). The order was issued by Judge Martin Glenn, and the liquidations will pave the way for the distribution of the funds to creditors in the near future. The proposal was officially approved after discussions between Celsius and the U.S. Securities and Exchange Commission (SEC). As per the bankruptcy judge’s ruling, the troubled lender is authorized to: “Sell or convert any cryptocurrency…

Celsius to Potentially Sell More Than $170M in Cardano (ADA), Polygon (MATIC), Solana (SOL) and Altcoins for BTC, ETH

According to court documents from last December, Celsius controlled 90 million MATIC, 103 million ADA, 161,000 SOL, 3.3 million LINK, 1.8 million polkadot (DOT), 200,000 litecoin (LTC) and 106,000 AAVE on November 25, 2022. It was not entirely clear what the company’s current positions are in those assets and how much of those are to be excluded from the sale. Source

‘Bitcoin only’ buy-and-hold investment strategy outperforms altcoins over the long term — Analysis shows

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Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities. Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio. Altcoin portfolio underperformed Bitcoin over the long run Bitcoin has had three consecutive bull and bear market cycles, starting in 2013 with the latest one coming in 2021. In each cycle, Bitcoin’s price rose parabolically in a very short span, usually a…

Bitcoin (BTC) Dominance Surges Past 50% amid Crackdown on Altcoins

The market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. Bitcoin (BTC) has had some difficult runs recently, but maybe its market dominance was never in doubt. This follows after the market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. According to TradingView data, Bitcoin dominance surpassed 50% on Monday, in what was its first attempt in over 2 years. Since the BTC price headed for the rocks following China’s ban in May 2021,…

Crypto outflows surge, a16z’s UK office, and the silent altcoins ban

A combination of escalating interest rates and a tight regulatory environment in the United States has driven a $417 million outflow from the crypto industry in the past eight weeks, with halts in trading for many altcoins draining liquidity and prolonging the ongoing crypto winter. This environment is forcing crypto companies to rethink and adapt their business strategies. Crypto exchange Binance, for instance, is moving forward with efforts to diversify its sources of revenue amid legal challenges with regulators. The company is launching a new subscription-based cloud mining product dedicated…

Which altcoins will survive the SEC crackdown? Bitcoin OG explains

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Proof-of-work coins that had a fair distribution at their launch are the most likely to avoid being labeled as securities by the U.S. SEC, according to Bitcoin OG and educator Dan Held.  Last week, the SEC sued Binance and Coinbase, accusing them of offering a number of altcoins as  unregistered securities. As a result, many of the tokens mentioned in the lawsuit were delisted by major trading platforms which made their price tank. According to Held, Tokens that “had fair or transparent launches”, such as Litecoin, Dogecoin and Monero, do…

Bakkt follows Robinhood, eToro in delisting major altcoins: Report

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New York-based derivatives exchange Bakkt is delisting three popular altcoins due to recent regulatory developments in the United States. According to a Fortune report, trading of Solana (SOL), Polygon (MATIC), and Cardano (ADA) has been suspended. The decision follows last week’s lawsuits brought by the Securities and Exchange Commission (SEC) against crypto exchanges Binance and Coinbase. In the complaints, the regulator labeled over 20 digital assets as securities, including SOL, MATIC, and ADA. The total number of cryptocurrencies the U.S. regulator sees as a “security” has now reached an estimated…

Altcoins gain traction while bitcoin’s social trend falls

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As bitcoin (BTC) started to fall from the crucial $26,000 mark, the social volume and sentiment toward altcoins have risen tremendously, according to data provided by the market intelligence platform Santiment. While the prices of some of the major altcoins — ethereum (ETH), binance coin (BNB) and XRP, for example — have witnessed notable drops over the past 24 hours, Santiment’s data shows that their social volume has risen. Moreover, bitcoin saw a tremendous social rise…