Outflows from the Grayscale Bitcoin Trust (GBTC), the world’s largest bitcoin fund at the time, which converted from a closed-end structure into an ETF that allowed redemptions for the first time in 10 years, weighed on bitcoin’s price over the first weeks. Later, inflows to rival funds overcame the negative trend, propelling BTC to an all-time high in March. Original
The expansion “indicates growing investor optimism, underpinning a bullish outlook,” Wintermute said in a note shared with CoinDesk. “The increase in stablecoin supply indicates that money is being deposited into on-chain ecosystems to generate economic activity, either through direct on-chain purchases that can catalyze price appreciation or yield-generation strategies that could improve [market] liquidity. This activity ultimately fosters positive on-chain growth.” Source
Ferrari, the iconic Italian luxury sports car manufacturer, announced on Wednesday that it will introduce its cryptocurrency payment system to European dealers by the end of July 2024. This move follows the successful launch of crypto payments in the U.S. less than a year ago, aimed at better serving client needs. By the end of […] Source CryptoX Portal
The range of returns available across digital asset markets offers unique opportunities for investors, says Alex Botte, Partner at Hack VC, a crypto-native venture capital firm. Source
Prediction markets have made headlines recently after demonstrating an uncanny ability to forecast global events with a level of accuracy unseen by traditional bookmakers or even polling results. With leading prediction market Polymarket predicting that Joe Biden would step out of the U.S. presidential race before it happened, people have become increasingly interested in the ‘wisdom of the crowd’ and the potential applications for these markets. What is a prediction market? A prediction market is a financial marketplace where people speculate on the outcome of all kinds of events, buying…
Ethereum’s price exhibited volatility on Tuesday, coinciding with the launch of U.S. spot ether exchange-traded funds (ETFs) on Wall Street. At around 5 a.m. EDT, ETH surged to an intraday high of $3,540 per coin but later dropped to approximately $3,406 by 12:55 p.m. in the afternoon. Ether’s Bearish Sentiment Dominates Trading Day Amid ETF […] Source BitcoincryptoexchangeExchanges CryptoX Portal
In the rapidly evolving cryptocurrency landscape, market makers play an increasingly vital role, particularly in the realm of DEXs (decentralized exchanges). As the industry shifts towards more decentralized models, the importance of efficient market-making strategies has become paramount. The evolution of cryptocurrency exchanges The cryptocurrency market has witnessed a significant transformation in recent years. While centralized exchanges initially dominated the space, the growing demand for platforms aligning with the core principles of decentralization led to the emergence of DEXs. These platforms offer users the ability to trade directly from their…
Solana-based meme coin Dogwifhat (WIF) has seen a significant price and market capitalization surge over the past two weeks, recording a 68% increase in value during this period. WIF reached $2.81 on Monday, marking its highest monthly valuation. The token’s market cap has also experienced significant growth, nearly doubling in just one month from $1.5 billion to its current market cap of $2.8 billion. Nevertheless, experts anticipate further growth in WIF’s market capitalization, potentially resulting in the token surpassing its previous all-time highs (ATHs). Bullish Predictions For WIF After hitting…
Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche of citizens, leading them to believe that they can become wealthy with minimal effort through playing this type of […] Source CryptoX Portal
On Monday, the price of bitcoin (BTC) increased by 6.8% over the past week, while ethereum (ETH) saw a 3.3% rise against the U.S. dollar during the same period. The top performers this week were the two meme coins MEW and WIF, which gained 129.3% and 56.7%, respectively. MEW and WIF Lead Gains This Week […] Source CryptoX Portal