Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Institutional investors are pulling out of Ethereum ETFs

September 25, 2024 1 min read

Institutional demand for Ethereum is diminishing, as spot Ethereum ETFs are witnessing considerable outflows, notwithstanding the recent price rebound following the Federal Reserve’s interest rate reductions. Grayscale’s Ethereum ETF has experienced the most substantial decrease, with outflows totaling $80.6 million, signifying diminished interest from institutional investors. Bitcoin ETFs have experienced inflows, signifying a preference for Bitcoin over Ethereum among investors. Notwithstanding a 15% resurgence in Ethereum’s price, the demand for

Bitcoin ETFs inflow hits $150 million amid price rebound

September 22, 2024 1 min read

The price of Bitcoin fell to a daily low of around $62,580 after temporarily attaining $64,000 earlier this month. The present price indicates a significant rebound from its decline to below $53,000 earlier this month. As of September 22, Bitcoin had increased by 7.5% in the preceding week and 3.2% in the prior 30 days. The favorable price trajectory of Bitcoin aligns with a substantial influx into spot Bitcoin exchange-traded

Coinbase is launching its wrapped Bitcoin product

September 22, 2024 1 min read

Coinbase intends to launch its wrapped Bitcoin product, cbBTC, on the Solana blockchain to enhance Bitcoin accessibility for customers. The declaration was issued by Hassan Ahmed, Coinbase’s Country Director for Singapore, during the Solana Breakpoint conference on September 21. cbBTC, collateralized 1:1 by Coinbase’s Bitcoin reserves, is intended for programmable blockchains such as Base and Ethereum. Notwithstanding its success, cbBTC remains subordinate to BitGo’s WBTC, which commands 96.6% of the

Donald Trump becomes the first US president to use Bitcoin for a purchase

September 19, 2024 1 min read

Former US President Donald Trump has executed the inaugural acquisition of burgers utilizing Bitcoin, signifying a notable change in his perspective on crypto. The transaction occurred at PubKey, a Bitcoin-accepting pub in Greenwich Village, New York, and was facilitated by the Strike app, a payment platform utilizing Bitcoin’s Layer-2 Lightning Network. Thomas Pacchia, co-owner of the bar, saw Trump’s acquisition as a “coming of age” moment for Bitcoin, underscoring its

Revolut is advancing plans to launch its own stablecoin

September 19, 2024 2 mins read

Revolut, a prominent fintech firm headquartered in London, is allegedly developing its own stablecoin. The company, having just acquired a U.K. banking license, intends to broaden its crypto services and position itself as a secure and compliant center for the crypto community. Revolut is prioritizing a compliance-centric strategy to attain this objective. Stablecoins, cryptocurrencies linked to conventional assets such as fiat currencies, have proven exceedingly lucrative owing to their investment

Blockchain investigator ZachXBT accuses USDC issuer Circle of ‘profiting’ North Korea hackers’ group

September 15, 2024 1 min read

Blockchain investigator ZachXBT has accused USDC issuer Circle of benefiting from transactions tied to the North Korean hacking group Lazarus. The claims are serious, as Circle took 4.5 months to ban assets related to the Lazarus Group, compared to other major stablecoin issuers. ZachXBT also chastised Circle for failing to take measures to prevent the gang from laundering money through their platform. The USDT issuer and other stablecoin issuers blacklisted

NFT market sales decline to $74.86M

September 15, 2024 1 min read

The NFT market saw a 7.91% drop in sales last week, with Ethereum leading the way with $27.25 million. Bitcoin followed with $14.89 million, a 31.01% rise, while Solana came in third with $12.47 million. Cryptopunks topped the charts with $5.39 million in sales, an increase of 9.45%. Bitcoin BRC20 NFTs surged 475%, reaching $3.45 million. Immutable X’s Guild of Guardians (GoG) finished third with $3.28 million. Sorare on Ether

Bitcoin ETFs see $1.2 billion outflow in just eight days as Bitcoin’s price drops over 18%

September 11, 2024 1 min read

Bitcoin ETFs in the US have undergone a notable decrease, with net outflows amounting to $1.2 billion in the last eight days. This signifies the most extended duration of uninterrupted withdrawals since their inception in early 2024. From late August to early September, investors withdrew substantial amounts from the 12 spot Bitcoin ETFs available on US marketplaces. This withdrawal aligns with a wider reduction in Bitcoin values, which has experienced

Bitcoin (BTC) long-term investors withdraw $728 million from crypto exchanges

September 9, 2024 1 min read

The recent decline in Bitcoin’s price has raised apprehension among short-term traders, whilst long-term holders are capitalizing on the dip. On-chain data indicates a significant increase in accumulation activity, with more than $728 million in Bitcoin taken from exchanges in the past week. IntoTheBlock, a cryptocurrency analytics tool, indicates that long-term holders are acquiring additional Bitcoin during this price decline, with $728 million worth of Bitcoin withdrawn from crypto exchanges

Solana (SOL) loses 12% of its value in the last seven days

September 5, 2024 1 min read

Crypto Kaleo, a prominent crypto expert, forecasts that Solana (SOL) may experience a further decline to $120. This decline could perhaps serve as a foundation for a more robust upward movement, allowing for consolidation before trying to reach new record levels. The expert accurately forecasted a decline in the price of Solana on August 27, and within three days, it dropped to $130. Today, the analyst reported that the value

21Shares’ parent company unveils Ethereum-based wrapped Bitcoin

September 3, 2024 1 min read

21.co, the parent firm of 21Shares, has launched its Wrapped Bitcoin product (21BTC) on the Ethereum blockchain in collaboration with Flow Traders. The product’s objective is to offer users a sense of security while they navigate decentralized applications and explore new possibilities on the Ethereum blockchain. 21BTC use cold storage to safely hold the underlying assets, hence avoiding the necessity for a bridge. The token is collateralized by BTC and

The SEC has issued a warning about FTX’s plans to use stablecoins and other crypto assets

September 2, 2024 1 min read

The US Securities and Exchange Commission (SEC) has warned FTX exchange about its strategy for repaying creditors, suggesting a possible objection to using stablecoins or other crypto assets. The SEC’s filing to the Delaware Bankruptcy Court highlights issues with FTX’s proposed use of stablecoins, particularly if they involve cryptocurrency assets. The agency has reserved the right to contest their use, particularly if they involve cryptocurrency assets. The SEC has also