Sentiment over Ethereum has waned in recent weeks as Bitcoin took the limelight with a push to a new 2023 high. Moreover, rival blockchains such as Solana and Avalanche are gaining traction, with token price gains outpacing ETH. On Dec. 21, Glassnode analyst “Checkmatey” opined that the decline in the market cap ratio between ETH...Read More
Bitcoin (BTC) layer 2 blockchain Stacks (STX) has soared again after billionaire investor Tim Draper voiced support for the emerging protocol. Trading for just $1.18 at 7 pm ET on Tuesday, the asset trades for $1.53 at writing time – a 26% rise since the venture capitalist’s comments made the rounds on social media. The...Read More
Venture capital powerhouse a16z has unveiled a comprehensive report for the crypto industry in 2024, focusing on the accelerated adoption of NFTs, the evolution of gaming finance, and advanced blockchain solutions like zkSync. Decentralization, User Experience, and AI Blockchains The report emphasizes the importance of decentralization to distribute power away from central authorities, fostering competition...Read More
Michael Novogratz, the founder of Galaxy Digital, expressed his opinion on Senator Elizabeth Warren’s stance against the cryptocurrency space on X. The post comes in response to Warren’s announcement of additional support from her colleagues for the Digital Asset Anti-Money Laundering Act, a bipartisan bill aiming to address concerns about the use of cryptocurrencies in...Read More
Michael Saylor, a renowned Bitcoin advocate, has declared the potential approval of a spot BTC exchange-traded fund (ETF) as possibly the most significant development on Wall Street in the last three decades. Speaking with Bloomberg on December 19, Saylor compared this event to the historic creation of the S&P 500 ETF, highlighting its transformative potential...Read More
Bitcoin markets have remained sideways or slightly down since the beginning of December. Strong resistance at $44,000 has proved difficult to overcome, and a new resistance level at $43,000 has been tested and rejected twice. On Dec. 19, market analyst ‘CryptoCon’ said it would be so easy to join the crowd and call for one...Read More
The decentralized nonfungible tokens (NFTs) borrowing and lending protocol – BendDAO – is all set to embrace the Bitcoin ecosystem. In a Discord post, BendDAO said that it will provide Bitcoin NFT lending business and will support the wBTC liquidity pool as a loanable asset. The platform is also actively exploring ways to facilitate smooth...Read More
Last week, bitcoin (BTC) rallied past $44,000 but hit a significant resistance level at almost $45,000 and came tumbling down. According to a report by an analyst at market analytics platform CryptoQuant, profit-taking by a certain investor cohort may have caused BTC’s price to retrace. BTC’s Short-term Retracement CryptoQuant’s analyst Yonsei discovered through an analysis...Read More
In a notable shift within the crypto landscape, a recent report from Matrixport, a prominent financial services firm, has provided valuable insights into the performance of publicly listed digital asset companies. The report has revealed that these entities have outperformed Bitcoin in terms of year-to-date returns. Bitcoin Soars 150% as Crypto Firms Surge by 266%...Read More
The new BRC-20 token standard has driven Bitcoin (BTC) transaction fees through the roof – and the network’s miners are reaping every satoshi as added profit. Data from the HashRate Index shows that the world’s largest Bitcoin mining pools have earned roughly one-third of their profits from transaction fees alone within the past three days....Read More
Exactly ten years ago today, an eccentric Bitcoin (BTC) enthusiast coined what is now one of the crypto industry’s most widely known and prolific phrases today: the HODL meme. On December 18, 2013, BitcoinTalk user GameKyuubi took to the forums just as Bitcoin’s price had cratered to $420 apiece – down two-thirds from its all-time...Read More
Digital assets investment products ended their 11-week streak of positive cash flows with withdrawals amounting to $16 million. However, trading activity remained significantly higher than the yearly average, reaching $3.6 billion for the week, in contrast to the year-to-date average of $1.6 billion. Bitcoin was the worst hit, witnessing outflows of $33 million last week,...Read More
The price of bitcoin (BTC) has entered a correction phase following the asset’s rally to and beyond the $44,000 mark. A weekly report from the on-chain analytics platform CryptoQuant revealed that several valuation metrics show the leading digital asset is due for a correction as its price has increased too fast. BTC in the Correction...Read More
Developing countries will continue to adopt Bitcoin (BTC) before it eventually becomes imperative for all national treasuries to hold, according to $1.5 trillion asset manager Frankin Templeton. The investment firm’s Head of Digital Asset & Investor Advisory Services, Sandy Kaul, spoke at length this week about the future of Bitcoin adoption – from its place...Read More
On Dec. 14, Bitcoin pioneer Nic Carter asked the burning question. Almost everyone assumes that we’re due for a 2017/18 or 2021/22-esque bull run, he said. “I’ll be the guy to ask why. Do you have any basis for this or have you trained a model on 2 data points?” he asked. The question is...Read More
It’s nearly guaranteed that regulators will force Bitcoin (BTC) ETF applicants to adopt a “cash-create” model before launching their highly anticipated investment products, according to Bloomberg ETF analyst Eric Balchunas. The decision, if true, would have major implications for the cost of managing each fund – and by extension, the fees passed down to customers....Read More
Analysts for the world’s largest bank expect Ethereum (ETH) to outperform Bitcoin (BTC) next year amid a critical network upgrade for the former, and a wildly disappointing ETF launch for the latter. In a report published Wednesday, JPMorgan argued that Ethereum’s upcoming “Protodanksharding” (EIP-4844) upgrade will help bolster network activity after a lull period during...Read More
On Dec. 13, Bitwise Invest research analyst Ryan Rasmussen predicted that Bitcoin will hit an all-time high of $80,000 in 2024. He did not specify a month or quarter but said that two major catalysts will help get us there. These are the anticipated launch of a spot Bitcoin ETF in early 2024 and the...Read More
Coinbase Global Inc. is expanding its services by introducing spot crypto trading on its international exchange as part of a global expansion strategy to cater to users with reservations about U.S.-based platforms. Although Coinbase’s stock has experienced substantial growth this year, currently valued at approximately $140 per share, it is still a long way from...Read More
The Bitcoin Ordinals market witnessed a remarkable surge in trading activity, with the volume surpassing $36 million on December 12 and subsequently establishing a new record. The excitement surrounding SATS increased following the official announcement from Binance regarding the inclusion of BRC-20 Sats (1000SATS). The spot trading pairs for 1000SATS were made accessible earlier this...Read More
A recent move was the introduction of the Digital Asset Anti-Money Laundering Act, another bill aiming to curtail the use of cryptocurrencies in America. On Dec. 11. the bill gained five new Senators as cosponsors, including, unsurprisingly, three members of the Banking Committee. Crypto advocate Evan Van Ness posted a list of Senators he claimed...Read More
The supply of bitcoin (BTC) on centralized crypto exchanges has fallen to its lowest level in six years, indicating a decline in selling intent. According to the latest edition of the Bitfinex Alpha report, exchange-held BTC has reached its 45th consecutive month of diminishing supply. The development came when BTC hit a significant resistance level...Read More
El Salvador’s Bitcoin-backed bonds – Volcano Bonds – that the Latin American nation wants to use to pay sovereign debt and fund the construction of the proposed Bitcoin City is now one step closer to becoming a reality. The nation’s Digital Assets Commission has reportedly given the green light to the program, and it is...Read More
In a December 9 announcement, the National Vulnerability Database (NVD) identified a critical vulnerability in Bitcoin’s inscriptions, potentially impacting the Ordinals Protocol developed in 2022. The NVD, overseen by the National Institute of Standards and Technology (NIST), a branch of the U.S. Department of Commerce, plays a crucial role in cataloging and spreading information about...Read More
With Bitcoin (BTC)’s next halving only five months away, investors are excited about whether the event can catalyze another epic bull market similar to years past. Mitchell Askew – Head Analyst for Blockware Solutions – is optimistic: not only does he predict more gains to come, but that the halving’s effect will retain its exponential...Read More
Investment products related to digital assets experienced inflows amounting to $43 million last seven-day period, marking the 11th consecutive week of such positive movements. However, this figure represents a noticeable decrease compared to previous weeks. According to CoinShare’s latest report, the recent rise in prices has prompted a significant influx into short positions, as some...Read More
Bitcoin and Ethereum continue to experience price drops in recent hours, marking a bearish start to the week. While this could be a standard correction ahead of a bull run, similar to patterns observed in past bull markets, there is growing worry about whale investors selling for profit, potentially postponing the anticipated bull phase. Ethereum,...Read More
The IRS Criminal Investigation (CI) has disclosed its top 10 cases of 2023, representing the most significant incidents of the previous year. CI Chief Jim Lee highlighted that billions of dollars in fraud, victims across the globe, and criminals are all about personal gain. In a statement to CryptoPotato, Lee said that the CI investigation...Read More
The largest digital asset crashed almost 5% in just over an hour, slumping from $43,800 to an intraday low of $41,780 during the Asian trading session on Monday, Dec. 11. At the time of writing, BTC was changing hands for around $42,300, which still puts it up 3.7% from the same time last week. The...Read More
According to research by Bybit, institutional traders have expressed a significant bullish sentiment towards Bitcoin, mixed sentiments regarding Ether, and a general air of skepticism towards altcoins. From December 2022 to September 2023, the study provides an insightful look into trading behaviors and asset allocation amidst significant market fluctuations. Institutional Traders Favor BTC, Moving Away...Read More
