The 1 million transactions milestone for one day was achieved after some government-owned and private sector banks deposited the salaries and benefits of their employees into their CBDC wallets last month, according to Reuters. The report named HDFC Bank, Kotak Mahindra Bank, Axis Bank, Canara Bank and IDFC First Bank. Source
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…
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
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…
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…
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…
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…
“There is a deadline for prospective crypto exchanges. If they do not register by the specified time, they will automatically be unable to operate in Indonesia,” Robby said, adding that the deadline is Aug. 17, 2024. If they want to continue operating, crypto exchanges must also obtain licenses, Robby said. Source
Bitcoin miner Marathon Digital has seen its stock trading volumes soar, topping U.S. mid and large-cap stocks ahead of a potential spot Bitcoin ETF approval. In the past 24 hours, the firm’s trading volume exceeded 105 million shares, outperforming tech giants like Tesla, Apple, and Amazon, as per Yahoo Finance’s market data. Marathon Digital’s shares lead in trading volume over the past 24 hours | Source: Yahoo Finance Riot Platforms, another significant player in the Bitcoin mining sector, also marked a notable presence, ranking as the sixth most-traded stock with…
Inflows into crypto investment funds have resumed after a brief hiatus two weeks ago, as evidenced by CoinShares’s latest analysis. According to James Butterfill, Head of Research at CoinShares, digital assets saw a net inflow of $103 million last week, as the wider crypto industry went through a few days of bullish sentiment. This is particularly exciting, as it signaled a change from the net outflows in digital asset investment funds witnessed two weeks ago. Crypto Fund Inflows Surge To $103 Million Crypto asset investment funds witnessed a minor net…