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Mark Yusko, the founder and CEO of Morgan Creek Capital, thinks that the Bitcoin (BTC) bull market just started. Yusko claims that BTC may reach $150,000 by the middle of next year in an interview on The Wolf of All Streets YouTube channel. He notes that this price will double the fair value of BTC. Yusko claims that the number of Bitcoin miners and users and the network effects of
Bitcoin is getting close to reaching the much-awaited $50K milestone as investor interest in the recently introduced Bitcoin ETFs rises. A recent report from a senior Bloomberg analyst claims that Bitcoin is rising steadily and has been increasing every day for the past seven days. In recent days, inflows into Bitcoin ETFs have increased sharply, emulating the initial days of the ETF’s introduction. ETF inflows hit over $400 million in
Standard Chartered Bank’s Head of Forex and Digital Assets Research predicts that the US SEC will approve Ethereum exchange-traded funds (ETFs) by May 23. Drawing parallels with the SEC’s approach to Bitcoin ETFs, where initial rejections were followed, Geoffrey Kendrick, the expert behind the forecast, believes Ethereum’s price will rise to $4,000 following the ETF approval. This optimism comes from Ethereum’s unique classification by the SEC, which avoids the security
Crypto exchange HTX, formerly Huobi, has raised concerns after abruptly disabling its proof-of-reserves system, according to Adam Cochran, managing partner at Cinneamhain Ventures. This unexpected move coincides with TrueUSD (TUSD), which is alleged to be owned by HTX stakeholder Justin Sun, struggling to maintain its $1 peg for more than two weeks. Earlier today, attempts to access HTX’s proof-of-reserves page revealed a complete lack of information about the exchange’s cryptocurrency
According to recent data from Crypto Quant, as of January 19th, issuers of spot Bitcoin ETFs collectively held over 638,000 bitcoins, equivalent to an estimated $28 billion in fiat currency. Grayscale Bitcoin Trust (GBTC) is the top Bitcoin ETF issuer, with 566,973 BTC. Following closely behind is BlackRock’s iShares spot ETF, which trades under the ticker symbol IBIT and holds 28,662 BTC. In an unexpected move, Grayscale Investments, the company
XRP has once again taken center stage with a significant transfer of 443.1 million XRP, worth $254.8 million at the current price of $0.573 per XRP. This transaction, which occurred just over an hour ago, has piqued the interest of the crypto community, resulting in widespread speculation. This latest transfer follows a much larger transaction on Sunday that involved nearly $15 billion in XRP, or approximately 25.6 billion tokens. This
BlackRock is making waves in the rapidly expanding market for Bitcoin Exchange-Traded Funds (ETFs) with its understated and straightforward advertising strategy. The company recently launched the iShares Bitcoin Trust ETF (IBIT) and chose a unique approach that stands out among its competitors’ flashy and complex campaigns. Unlike the typical high-energy and visually intricate Bitcoin advertisements, BlackRock’s promotional video is calm and straightforward. A BlackRock executive explains Bitcoin and the newly
In an unexpected move, Twitter, dubbed the “X” of the online world, has disabled support for non-fungible tokens (NFTs) in its premium membership section. Premium subscribers initially had the unique ability to showcase their NFT holdings through personalized profile pictures, adorned with a distinct hexadecimal profile photo. Users could seamlessly feature an NFT as their profile image after establishing a temporary link to their cryptocurrency wallets. When finished, the digital
Binance US is taking proactive steps to strengthen its compliance efforts in the face of increased scrutiny from regulatory bodies such as the SEC. Binance US has appointed Lesley O’Neill as Chief Compliance Officer in response to increased scrutiny and an evolving regulatory landscape. O’Neill’s role will be critical in managing legal affairs and improving the crypto exchange’s overall compliance framework. O’Neill brings a wealth of experience to her new
Recent optimism about the potential approval of U.S.-based spot bitcoin ETFs has fueled a surge in bitcoin’s price, which briefly surpassed $45,500 in the last 24 hours. Significant liquidations occurred in the market, particularly in short positions, totaling over $135 million across various centralized exchanges. Over $82 million in Bitcoin positions were liquidated on centralized exchanges, with around $74 million being short positions. In the crypto market, liquidations occur when
Ripple, a major crypto player and XRP holder, has been actively liquidating its monthly unlocked reserves. The company’s recent sell-offs have piqued investors’ interest, with over $192.2 million in XRP already dumped in December alone. In this article, we will go over Ripple’s liquidation strategy and its potential implications for the XRP market. Ripple had already sold 240 million XRP worth $148.8 million as of December 21. This was 40
Nifty Island, Nyft Studio’s open social metaverse game platform, has announced plans to launch its native token, $ISLAND. This scarce digital commodity aims to turn Nifty Island into a public good that can be accessed by communities all over the internet. The token distribution event is set to begin on January 17, 2024. In contrast to traditional methods such as minting or pre-sale, $ISLAND tokens will be distributed via a