Tag: Digital

Polkadot Parachain BitCountry Introduces InnoVoy Event to Boost Digital Identity

To incentivize early adoption, BitCountry is offering an exclusive opportunity for the first 1,000 users to free-mint their BitAvatar IDs without requiring an Invite Code. BitCountry, the pioneering Polkadot parachain project dedicated to developing immersive metaverse communities, is set to introduce BitAvatar, a Universal Avatar identity accompanied by an NFT-bound wallet to the Polkadot community through its InnoVoy Event. As highlighted in a press release shared with Coinspeaker, the InnoVoy event is poised to revolutionize the Web3 identity landscape just ahead of the much-anticipated L1 MNet Continuum launch. BitAvatar: A…

Bitcoin ETF will attract pension funds and RIAs, says CBOE digital chief

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John Palmer, the president of crypto clearing house CBOE Digital, anticipates a significant influx of institutional investment into Bitcoin as soon as the SEC greenlights the first-ever spot ETF.  In a Bloomberg TV interview, Palmer highlighted that such approval would open doors for pension funds and funds based on registered investment advisers (RIAs) to engage in Bitcoin assets through a spot ETF, a move currently restricted with standard Bitcoin tokens. This development comes as Bitcoin’s value surged past $45,000 for the first time in almost two years, just ahead of…

ETFs Offer Tailwinds for Other Digital Assets

The 2023 period was also one of reduced macroeconomic correlations across digital assets. Crypto was allowed to be crypto, and mostly decoupled from US equities and gold over the year (see rolling correlation chart above), albeit with lower levels of realized volatility than in prior years. Surprisingly, ether realized nearly the same level of volatility as bitcoin in 2023, breaking from the historical norm of generally realizing ~20% higher, with bitcoin’s volatility dropping towards levels akin to single stock volatility, and more in line with traditional asset classes. Source

HSBC to advance digital currency and CBDC pilots in Hong Kong

The Hong Kong branch of the international HSBC bank is set to continue to work with the authorities on initiatives such as digital currencies for cross-border payments. HSBC Hong Kong is accelerating its work with local authorities on the implementation of digital currencies for cross-border payments. In an interview with the South China Morning Post, HSBC HK CEO Luanne Lim said the bank also plans to engage in tokenization of financial instruments and central bank digital currencies pilots in Hong Kong to bring “efficiency, transparency and lower costs to traditional…

Goldman Sachs Exec Predict Growth For Digital Assets In 2024

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Head of Digital Assets at Goldman Sachs, Matthew McDermott, has projected a massive growth in the cryptocurrency market in 2024. McDermott shared these positive predictions in a recent interview with Fox Business, expressing much optimism in the future of digital assets.  Goldman Exec Expects Spot ETFs To ‘Gradually’ Boost Institutional Demand For Crypto Assets Speaking to Fox Business, McDermott has backed the continuous growth of cryptocurrencies as he foresees a rise in the institutional adoption of these assets.  Notably, the Goldman executive shares popular sentiment with many crypto enthusiasts that…

Hive Digital Secures $22M in Funding for Bitcoin Mining Operations

On December 28, the company announced that its fleet of 3,750 Bitcoin ASIC miners, purchased last year, had already generated profits due to the surge in the coin’s price. Canadian Bitcoin mining company Hive Digital has recently concluded a successful $22 million private financing round. The company achieved this milestone through the sale of 5.75 million special warrants at a price of $3.87 each, resulting in total proceeds of $22 million. This financing round will enable the company  to support the growth of its Bitcoin mining operations, as well as…

Bitcoin Miner Marathon Digital (MARA) Stock Tops US Trading Charts

Marathon Digital and Riot Platforms, sensing the potential for increased demand, have made strategic moves to fortify their positions in the market. In the last 24 hours, Marathon Digital Holdings Inc (NASDAQ: MARA) has witnessed a remarkable 105 million shares in trading volume, surpassing established blue-chip stocks such as Tesla Inc (NASDAQ: TSLA), Apple Inc (NASDAQ: AAPL), and Amazon.com Inc (NASDAQ: AMZN), according to data from Yahoo Finance. Marathon Digital Shares Records Rising Trading Activity Marathon Digital’s exceptional trading volumes are part of a broader trend in the crypto mining…