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Source : Bit Coin News
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Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee

Binance Nigeria Standoff: Crypto Exchange's Top Executives Summoned by House of Representatives CommitteeTop executives from Binance have been summoned to appear before the Nigerian House of Representatives Financial Crimes Committee no later than March 4. Ginger Onwusibe, the committee’s chairperson, has warned of possible repercussions should Binance executives fail to comply with the request. Latest Escalation in the Standoff Between Binance and Nigerian Authorities The Nigerian House […]
Source : Bit Coin News
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Revolutionizing Cloud Solutions: Introducing Cloud Binary Server

PRESS RELEASE. Orleans, France, March 1st, 2024, Chainwire. Cloud Binary Server unveiled its innovative cloud infrastructure services, designed to provide a cost-efficient and dedicated server solution for both businesses and individuals. Leveraging a Telegram bot, the platform simplifies the purchase of cloud infrastructure, bypassing complex setups and the need for in-depth technical understanding, thus widening […]
Source : Bit Coin News
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Latam Insights: El Salvador Won’t Sell Its Bitcoin, Bitcoin Spot ETFs Land In Brazil and Peru

Latam Insights: El Salvador Won't Sell Its Bitcoin, Bitcoin Spot ETFs Land in Brazil and PeruWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Bukele states El Salvador will not sell its bitcoin, Bitcoin ETFs land in Brazil and Peru, and Argentine President Javier Milei aims to criminalize central bank money issuance. El Salvador Won’t Sell […]
Source : Bit Coin News
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Indonesia’s Commodities Regulator Requests Finance Ministry to Review Crypto Taxes

Indonesia’s Commodities Regulator Requests Finance Ministry to Review Crypto TaxesThe Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has been surpassing that generated from fintech businesses. Crypto Industry Generates More Revenue than Fintech Companies Indonesia’s Commodity Futures Trading Supervisory Agency […]
Source : Bit Coin News
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Montana Blasts SEC ‘Regulatory Power Grab’ in Kraken’s Case: ‘Crypto Assets Are Not Automatically Securities’

Montana Blasts SEC 'Regulatory Power Grab' on Kraken's Case: 'Crypto Assets Are Not Automatically Securities'Montana introduced an amicus curiae in the case of the SEC vs. Kraken, a US-based crypto exchange, criticizing the “regulatory power grab” of the institution. Montana, supported by seven other states, affirms that crypto assets are not automatically securities and that the SEC’s expansive concept of “investment contract” might preempt state legislation. Montana and Seven […]
Source : Bit Coin News
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Binance Claims Ignorance of $10 Billion Fine Imposed by Nigerian Government

Binance, a leading cryptocurrency exchange, has denied allegations made by a Nigerian government official that it is facing a $10 billion fine. While Binance maintains its commitment to fostering a positive relationship with the Nigerian government, it firmly states that it will not succumb to pressure to pay for the release of its detained executives. […]
Source : Bit Coin News
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Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’

Indian American Investor Balaji Srinivasan: Bitcoin 'Is Political Revolution'Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who […]
Source : Bit Coin News
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Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%

Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%The stablecoin sector experienced a $3.26 billion expansion within the last eight days, climbing from $140.82 billion to $144.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the five. Stablecoin Economy Rises 2.31% in […]
Source : Bit Coin News
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Milton Friedman’s 1999 Vision: Predicting Bitcoin Before the Digital Age Dawned

Milton Friedman's 1999 Vision: Predicting Bitcoin Before the Digital Age DawnedNearly two decades before the Bitcoin network revolutionized the digital world, Nobel Laureate Milton Friedman foresaw the emergence of digital currencies. His prediction of an electronic currency facilitating anonymous transactions has become a cornerstone in understanding the evolution of digital finance. Ahead of His Time: How Milton Friedman Envisioned Bitcoin Before the conceptualization of Satoshi […]
Source : Bit Coin News
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$1 Million per BTC by 2033: Predicting Bitcoin’s Price Trajectory Using the Power Law Model

$1 Million per BTC by 2033: Predicting Bitcoin's Price Trajectory Using the Power Law ModelIn an era where bitcoin’s value fluctuates wildly, a price model has emerged, offering a mathematical glimpse into its future price. The “Bitcoin Power Law,” suggests an interesting path for bitcoin’s price, rooted in the principles of algebra and natural laws. The model, representing a blend of science and finance, forecasts bitcoin’s journey to unprecedented […]
Source : News Btc
Added today

FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL – Details

Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin’s value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%. Related Reading: Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion FLOKI Tallies An Impressive 336% Weekly Gain However, it is the weekly timeframe that has truly astounded market observers, as FLOKI recorded an impressive rally of 336%. This surge in price comes on the heels of a community-backed proposal to burn 2% of the token’s supply. The proposal to burn tokens was met with overwhelming support from the community, with nearly 90% of votes favoring the initiative. The top voter staked a staggering 117 billion tokens, demonstrating the belief in the long-term security and stability of the Floki project. IT’S OFFICIAL: FLOKI DAO PASSES VOTE TO BURN 190,918,585,431.84 FLOKI TOKENS The #Floki DAO has voted in favor of burning 190,918,585,431.84 $FLOKI tokens. At the current market value, this is worth over $24 MILLION. In line with the decision of the Floki DAO, the tokens will… pic.twitter.com/uGu0XFU5p9 — FLOKI (@RealFlokiInu) March 2, 2024 The burn event is scheduled to take place after a seven-day period, and its purpose is to minimize the risks associated with token exploitation and dumping, thereby ensuring the project’s sustainability. Social Media Buzz And Positive Sentiment  An investigation by NewsBTC has revealed a surge in social media mentions for Floki Inu in recent days, indicating the continued popularity of the meme coin within the cryptocurrency community. Moreover, a rise in weighted sentiment suggests that positive views towards the token prevail at the time of writing. This growing social media buzz and optimistic sentiment have played a role in attracting attention to Floki Inu and contributing to its meteoric rise in value. Source: Santiment FLOKI Total Value Locked Soars Meanwhile, Floki has reached a noteworthy accomplishment. Total Value Locked (TVL) across its ecosystem goods has exceeded $400 million. This accomplishment follows the cryptocurrency’s all-time high of $366 million, which showed its quick rise and investor appeal. FLOKI CROSSES RECORD $400M IN TVL#Floki has just crossed $400M in TVL across two of its key ecosystem products, hours after it hit an ATH of $366 million: – Floki Staking: $297M+ – FlokiFi Locker: $111M+$FLOKI now has more TVL than that of other top memecoins like $PEPE,… pic.twitter.com/rjCXPF7y6H — FLOKI (@RealFlokiInu) March 2, 2024 As the crypto market continues to evolve, all eyes remain on Floki Inu and its future trajectory. Market participants eagerly await the outcome of the token burn event and closely monitor the impact of social media trends and cautionary indicators on the coin’s price. Total crypto market cap at $2.3 trillion on the daily chart: TradingView.com The coming days will shed more light on whether Floki Inu can sustain its current momentum or if a correction is on the horizon. Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up? Floki Inu’s recent surge in price, driven by overwhelming community support for a token burn proposal, has captured widespread attention. The coin’s popularity on social media and positive sentiment within the cryptocurrency community further contribute to its rise. Featured image from Pexels, chart from TradingView
Source : News Btc
Added today

Meme Coin Mania: Why Shiba Inu, PEPE, Dogecoin Are Far From Finished

As the crypto market experiences another wave of fervent enthusiasm, meme coins like Shiba Inu, PEPE, and Dogecoin have surged to the forefront of investors’ minds. With PEPE leading the rally at a staggering 371% increase, Dogwifhat (WIF) at 351%, FLOKI at 331%, BONK at 182%, and Shiba Inu (SHIB) at 177% over just the last seven days, the phenomenon has caught the eye of both enthusiasts and skeptics alike. Why Shiba Inu, PEPE, DOGE Will Continue To Rally Andrew Kang, co-founder and partner at Mechanism Capital, offered a deep dive into the dynamics fueling this unprecedented meme coin frenzy. Kang, sharing his expert analysis on X, articulates the foundational appeal of meme coins: “People are really calling top on meme coin season when BTC hasn’t even crossed ATH yet. Meme coins are a global shelling point for speculative liquidity.” He stresses the accessibility of meme coins as a crucial factor in their explosive growth, positioning them as more globally accessible than any traditional stock. This accessibility, combined with a universal speculative interest, has led to Dogecoin’s significant outperformance compared to phenomena like the GameStop stock frenzy. The historical context Kang provides is telling of the potential he sees in this cycle. “Total Meme coin market cap last cycle was $100 billion last cycle, and we usually get multiples on market cap highs every cycle,” he notes, suggesting that the current market conditions are ripe for surpassing previous records. Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up? His insights reveal a broadening demographic of meme coin investors, including high-net-worth individuals, hedge funds, and even traditional financial institutions, all drawn in by the speculative allure and community-driven narratives of these assets. Meme Coins Are A Skill-Based Lottery Kang’s perspective on the meme coin ecosystem is particularly illuminating. He likens it to a “Skill-based Global Lottery Platform,” where success is part skill, part community effort, and part viral momentum. “We are going to reach some serious levels of mental retardation for memecoins this cycle […] And the more people that they get to buy the same tickets at them, the more likely they and their friends win – that’s the best feeling – winning together,” Kang elaborates. This communal aspect of meme coin trading, combined with the thrill of speculation, underscores the unique appeal of meme coins as both a financial instrument and a social phenomenon. Expanding on the potential scale of meme coin growth, Kang draws an ambitious parallel with the global lottery industry, which boasted $300 billion in sales in 2020. “Now imagine the valuations of memecoins if a capital injection of that scale were to flow into them,” he muses, positing a future where meme coins command a significant portion of global speculative investment. Related Reading: Shiba Inu (SHIB) Price Skyrockets By 28%: 4 Key Reasons Kang also critiques the broader cryptocurrency market, suggesting that the complexity and niche appeal of many projects may limit their attractiveness to the general public. “The masses won’t care about the 4th liquid restaking derivative or whatever fancy new technology […] Memecoins are just a much more pure and upfront speculative vehicle,” he states, predicting that meme coins could outperform more technologically complex crypto assets by a wide margin. The King Of All Meme Coins A strong advocate for strategic investment in meme coins, Kang draws an analogy a Bitcoin investment for tradfi investors, suggesting that a small, measured allocation to meme coins could offer disproportionate rewards. “Advocating for a 1-5% portfolio allocation of memecoins is like boomers advocating for 1-5% portfolio allocation of BTC,” he says, emphasizing the blend of high risk and high reward that meme coins represent. Highlighting Dogecoin’s unique position within the meme coin space, Kang points to its potential for real-world application and celebrity endorsements as key factors in its potential for dominance. “DOGE is the king of memecoins […] Elon is a people’s man and I doubt he keeps his silence on Doge/X payments much longer. […] Sam Altman has 1% float WLD and Elon has DOGE. It is obvious that the AGI will choose the more decentralized currency,” he suggests. At press time, Shiba Inu traded at $0.00002642. Featured image from DALL·E, chart from TradingView.com
Source : News Btc
Added today

DOT Price (Polkadot) Looks Set To Crush $10 And Rally Further

Polkadot (DOT) is gaining pace above the $8.80 resistance against the US Dollar. The price could extend its rally once it settles above the $10 barrier. DOT is gaining pace above the $8.50 and $8.80 levels against the US Dollar. The price is trading above the $9.00 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $9.20 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could continue to rise unless the bears are able to defend the $10 resistance zone. Polkadot Price Restarts Rally After forming a base above the $7.50 level, DOT price started a steady increase. It gained over 25% in a few days and even outperformed Ethereum and Bitcoin at times. There was a clear move above the $8.50 and $8.80 resistance levels. The price even traded close to the $10.00 level. A new multi-week high is formed near $9.89 and the price is now consolidating gains. It is holding gains above the 23.6% Fib retracement level of the upward move from the $8.57 swing low to the $9.89 high. DOT is now trading above the $9.00 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $9.20 on the 4-hour chart of the DOT/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $8.57 swing low to the $9.89 high. Source: DOTUSD on TradingView.com Immediate resistance is near the $9.85 level. The next major resistance is near $10.00. A successful break above $10.00 could start another strong rally. In the stated case, the price could easily rally toward $12.00 in the near term. The next major resistance is seen near the $13.50 zone. Are Dips Supported in DOT? If DOT price fails to start a fresh increase above $10.00, it could start a downside correction. The first key support is near the $9.50 level. The next major support is near the $9.20 level, below which the price might decline to $8.80. Any more losses may perhaps open the doors for a move toward the $8.50 support zone. Technical Indicators 4-Hours MACD – The MACD for DOT/USD is now gaining momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now above the 50 level. Major Support Levels – $9.50, $9.20 and $8.50. Major Resistance Levels – $9.85, $10.00, and $12.00.
Source : News Btc
Added today

Ethereum Price Key Indicators Suggest A Strengthening Case For Surge To $3,800

Ethereum price is consolidating gains above $3,400. ETH is showing positive signs and might soon aim for a move above the $3,500 resistance zone. Ethereum is holding gains and consolidating below the $3,500 resistance zone. The price is trading above $3,400 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be setting up for a move toward the $3,650 and $3,800 levels. Ethereum Price Remains Supported Ethereum price formed a base above the $3,350 level and started another increase, like Bitcoin. ETH broke the $3,400 level to set the pace for more upsides. There was a clear move above the 50% Fib retracement level of the downside correction from the $3,519 swing high to the $3,305 low. The bulls are now active above the $3,420 level. There is also a key bullish trend line forming with support at $3,420 on the hourly chart of ETH/USD. Ethereum is now trading above $3,450 and the 100-hourly Simple Moving Average. It is showing positive signs above the 76.4% Fib retracement level of the downside correction from the $3,519 swing high to the $3,305 low. Immediate resistance on the upside is near the $3,500 level. The first major resistance is near the $3,520 level. The next major resistance is near $3,550, above which the price might gain bullish momentum.  The next stop for the bulls could be near the $3,650 level. Source: ETHUSD on TradingView.com If there is a move above the $3,650 resistance, Ether could even rally toward the $3,720 resistance. Any more gains might call for a test of $3,800. Are Dips Supported In ETH? If Ethereum fails to clear the $3,520 resistance, it could start a downside correction. Initial support on the downside is near the $3,420 level and the trend line. The first major support is near the $3,400 zone or the 100 hourly SMA. The next key support could be the $3,350 zone. A clear move below the $3,350 support might send the price toward $3,320. Any more losses might send the price toward the $3,150 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $3,400 Major Resistance Level – $3,520
Source : News Btc
Added today

Bitcoin Price Restarts Rally, Why BTC Could Soon Hit $65K

Bitcoin price is gaining momentum above the $62,000 resistance. BTC is signaling an upside break and might surge toward the $65,000 resistance. Bitcoin price is moving higher from the $61,200 support zone. The price is trading above $62,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher toward the $65,000 resistance or even $65,730. Bitcoin Price Regains Strength Bitcoin price remained well-bid above the $60,000 support zone. A base was formed, and the price started a fresh increase above the $62,000 resistance. There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair. The pair even cleared the 76.4% Fib retracement level of the downward move from the $63,583 swing high to the $60,108 low. Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,800 level. The next key resistance could be $64,500, above which the price could rise toward the $65,000 resistance zone. Source: BTCUSD on TradingView.com If the bulls remain in action, the price could even surpass $65,000 and test $65,500. Any more gains might send the price toward the 1.618 Fib extension level of the downward move from the $63,583 swing high to the $60,108 low at $65,730. Are Dips Supported In BTC? If Bitcoin fails to rise above the $64,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $62,750 level. The first major support is $62,250 or the 100 hourly SMA. If there is a close below $62,250, the price could start a decent pullback toward the $61,000 zone. Any more losses might send the price toward the $60,000 support zone. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $62,750, followed by $62,250. Major Resistance Levels – $63,800, $65,000, and $65,730.
Source : News Btc
1 days ago

Bitcoin Profitability Reaches 97% For The First Time In Over 2 Years

Bitcoin has had an eventful few weeks in terms of price action. The world’s largest crypto is currently at a 19% increase in the past seven days and a 43% increase in the past 30 days, its highest percentage gain in over a year. As a result, a huge number of BTC addresses have been pushed into the profitability zone. For the first time in over two years, 97% of all Bitcoin addresses are now in profit. Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up? Number Of Bitcoin Addresses In Profit Skyrockets As Prices Surge According to crypto on-chain analytics platform IntoTheBlock, 50.62 million Bitcoin addresses are currently in profit at the current price level. This huge figure represents over 97% of the total wallet addresses. Notably, the last time holders saw this much profitability was in November 2021 when the price of Bitcoin was around $69,000, nearing its all-time high. Notably, market playout has seen Bitcoin continue its massive gains over the past few months. Just last month, 91% of addresses were in profit. Despite some sporadic sell-offs and profit-taking from some investors attempting to break even, the percentage of addresses in profit continues to grow as the huge profitability means selling pressure no longer has a significant effect.   How Long Can Bitcoin Sustain This Upward Momentum? Bitcoin prices have skyrocketed over the past several months, recently topping $60,000 again. The top crypto is currently trading at $62,233 at the time of this writing, and 1.28 million addresses, which account for 2.46% of the total addresses, are at a break-even point.  Bitcoin is now trading at $62,233. Chart: TradingView.com The price surge can be attributed to increased mainstream adoption in the traditional investing world spearheaded by Spot Bitcoin ETFs. This in turn has ushered in a new wave of holding mentality. In February, 69,244 BTC worth over $3.6 billion were withdrawn from crypto exchanges. Notably, those who have profited the most are those who have been holding Bitcoin long-term. According to IntoTheBlock, 13.6 million Bitcoins are in the possession of investors who have held onto their assets for over a year. However, new investors can still look forward to a continued price surge, as Bitcoin faces virtually little to no resistance in its path. Only 0.37% of addresses (193,000) are still waiting to make a profit at the current price.  Related Reading: Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion Most experts remain optimistic about Bitcoin’s price potential for the rest of 2024 and beyond. With the bull run in full swing, many traders and crypto analysts think Bitcoin will continue setting new all-time highs in 2024. Price targets for the end of the year range from $100,000 up to $300,000 per Bitcoin.  Featured image from Pexels, chart from TradingView
Source : News Btc
1 days ago

$906 Million Worth Of Ethereum Leave Exchanges Last Week – ETH To $4,000?

Exchange data has revealed continued bullish sentiment from Ethereum traders. According to IntoTheBlock, $906 million worth of Ethereum was withdrawn from crypto exchanges last week, indicating a holding mentality among investors. This massive exodus of ETH from exchanges could indicate that traders are anticipating higher prices and moving their holdings into private wallets for long-term storage. Related Reading: Crypto Analyst Predicts Parabolic Rally For Cardano – Here’s The Timeline The holding attitude has emerged amid a wider spike in the price of cryptocurrencies throughout the market and numerous demands for Ethereum to cross over $4,000 and beyond. Ethereum Sees Massive Exodus From Exchanges Exchange data typically helps give an overview of the supply and demand dynamics of crypto assets. When the supply of an asset declines on exchanges, it indicates holders have a long-term view.  In this vein, exchange data from IntoTheBlock concerning Ethereum has shown the dynamics tipping to the demand side as investors have increased their accumulation of the industry’s second-largest cryptocurrency since the beginning of the year.  More importantly, outflows of Ethereum from exchanges totaled $906 million last week to mark eight consecutive weeks of outflows.  $906M of $ETH left exchanges this week, making it the eighth consecutive week of net outflows for the second-largest crypto asset pic.twitter.com/v7VuqFUSCf — IntoTheBlock (@intotheblock) March 1, 2024 This outflow pattern has been reaffirmed by a comparable exchange metric on CryptoQuant. Since January 10, the total amount of Ethereum on exchange reserves has decreased by more than 1 million ETH, and it currently stands at 13.7 million ETH. Total crypto market cap is currently at $2.272 trillion. Chart: TradingView.com What’s Next For Ethereum? The massive outflow from exchanges can be attributed to Ethereum bulls looking to push the crypto to new highs. Ethereum has gone on a sustained upward trend in the past few months to outperform majority of altcoins. At the time of writing, the crypto is trading at $3,392, up by 46% in the past 30 days. If anything, the increase in outflow from exchanges is a signal for a continued uptrend and ETH is now on its way to reaching the $3,500 mark again after a brief crossover on February 29. The bullish action has prompted investors to look forward to Ethereum breaking into $4,000 again towards its all-time high of $4,878. With decreasing supply on exchanges, the price of ETH is poised to rise. A breach of the $4,000 level seems imminent, and from there, a run-up to $4,900 could happen quickly.  Related Reading: Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion A crypto analyst known as Trader Alan pointed out that recent price action has seen Ethereum perfecting a bullish breakout and retest on the monthly chart. According to the price chart shared by the analyst, a strong bullish movement could see ETH reaching $7,000 by the end of 2024, as well as exceeding $10,000 and $15,000 in the coming years. Featured image from Pexels, chart from TradingView
Source : News Btc
1 days ago

Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion

The world of meme coins, the often-controversial corner of the cryptocurrency market, is experiencing a surge in early March 2024. Led by the unexpected rise of Dogwifhat (WIF), several meme coins have seen their market capitalization explode, attracting significant investor interest. Source: Coingecko Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up? Dogwifhat: Meteoric Ascent Dogwifhat, a dog-themed meme coin launched on the Solana blockchain only three months ago, has become the undisputed champion of the recent rally. WIF reached a staggering all-time high of $1.50 on major exchanges, surpassing established meme coins like Floki (FLOKI) and even exceeding its market capitalization in less than a quarter to an impressive $1.6 billion. This rapid rise has fueled speculation that WIF could potentially join the ranks of the top five meme coins, currently occupied by Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK). Factors Fueling The Meme Coin Mania Several factors are believed to be contributing to the current meme coin frenzy. One key factor is the renewed interest in the Solana blockchain, with its transaction speed and scalability attracting investors. Additionally, the “evergreen” popularity of meme coins, fueled by online communities and viral trends, continues to play a significant role. This trend is often driven by “narrative-led investors” who base their decisions on hype and community sentiment rather than underlying fundamentals or long-term utility. SOL market cap currently at $57.3 billion. Chart: TradingView.com Dogwifhat: Meme Coins Show Promise At the beginning of March 2024, the market for meme coins is experiencing explosive growth. Following a 35% gain in price over the course of the previous night, it broke beyond the $40 billion capitalization mark today. According to the data provided by CoinGecko, the total trade volume comes in at approximately $16 billion. WIF sustains a strong rally in the weekly timeframe. Source: Coingecko Concerns And Cautious Optimism While the current rally paints a picture of a thriving meme coin ecosystem, experts urge caution. The rapid rise of coins like WIF raises concerns about the inherent volatility of the market. The lack of underlying utility or established use cases for many meme coins makes them highly susceptible to market fluctuations and potential crashes. Additionally, the article avoids mentioning the regulatory uncertainties surrounding meme coins, which could pose further challenges for their long-term viability. Related Reading: Crypto Analyst Predicts Parabolic Rally For Cardano – Here’s The Timeline Looking Ahead: Sustainable Growth Or Short-Lived Hype? The future of Dogwifhat and the broader meme coin market remains uncertain. Whether WIF can maintain its position in the top ranks or join the graveyard of forgotten meme coins remains to be seen. While the current surge has undoubtedly captured investor attention, it’s crucial to remember the speculative nature of this market and the potential risks involved. Featured image from Mudrex, chart from TradingView
Source : News Btc
1 days ago

Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000. Related Reading: Pepe Coin Soars Over 250% – Will March Bring More Surprises? Shiba Inu Explodes On The Weekly Timeframe The memecoin has witnessed significant gains, with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month. Source: Coingecko Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year. This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists. SHIB seven-day price rally. Source: Coingecko Market Strength And Bull Run Potential The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence. Bitcoin is now trading at $61.970. Chart: TradingView.com These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility. SHIB Investor Sentiment An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues. Shifting Tides Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals. Related Reading: BNB Barrels Past $400, As Binance TVL Nears $5 Billion – Details Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance. Featured image from Pexels, chart from TradingView
Source : News Btc
2 days ago

Crypto Analyst Predicts Parabolic Rally For Cardano – Here’s The Timeline

Several analysts have expressed optimism, suggesting that Cardano (ADA) is poised for a bullish market surge in the near term. ADA recently went on an impressive spike on the last day of February, registering a 14% gain to push its price above $0.7 for the first time since May 2022.  Related Reading: BNB Barrels Past $400, As Binance TVL Nears $5 Billion – Details Despite these gains, there have been concerns from some investors of ADA potentially falling behind in its performance relative to Bitcoin in the last bull cycle. Popular crypto analyst Dan Gambardello addressed some of these concerns in a recent video posted on X. He mentioned that Cardano is currently within a typical trend and that a bull indicator which is expected to welcome a parabolic price spike would soon be triggered. Parabolic Rally For Cardano Gambardello’s recent video analysis came mostly to address concerns about ADA’s underperformance in this bull cycle. Particularly, parallels were made to the last time Bitcoin reached $60,000 in March and ADA was trading around $1.30 to $1.98. However, this hasn’t repeated itself and traders are beginning to wonder if ADA will attract the same bullish sentiment. Bitcoin has now broken past the $60,000 mark again and ADA finds itself in the $0.66 to $0.7 region.  Gambardello emphasized Ethereum’s past action as a comparison, noting that the cryptocurrency is one cycle ahead of Cardano. In that context, when Bitcoin neared its former all-time high of $17,000 in the last cycle in 2021, Ethereum was at $500. This seemingly underperformed its previous performance without raising a cause for concern from investors, as ETH was at $700 when BTC reached an all-time high of $17,000 in 2017.  He remarked that since ADA is currently mirroring Ethereum’s last cycle, the current price movement is normal. He also noted that most altcoins are getting ready to power through.  Ultimately, the analyst noted that a bullish break of structure just occurred on ADA’s weekly chart. The last time this happened in 2021, ADA went on a price surge from $0.15 to $1.5.     Bitcoin is now trading at $61.777. Chart: TradingView.com Current State Of Cardano Gambardello noted in his analysis that while the break of structure indicator got triggered above $0.7, ADA saw a minor correction shortly after. In light of this, he made the observation that a significant disruption of structure might take place within the next three days. Remarkably, ADA has in fact broken out of the $0.7 price level since the analyst posted his video online. At the time of writing, ADA is trading at $0.74, up by 10% in the past 24 hours. Particularly, ADA reached above $0.76 in the past 24 hours.  Related Reading: Dogwifhat What? Memecoin Barges Into 86th Spot With 320% Rally – What’s Going On? The Cardano blockchain recently crossed over 10 million blocks. ADA is now on its way to continue on massive gains along with the rest of the crypto market.  Featured image from Pexels, chart from TradingView
Source : Miner Gate
1479 days ago

Monero Hard Fork and RandomX: Make CPU Mining Great Again

Monero (XMR) has successfully hardforked on November 30th, at block number 1978433. The fork has changed the CryptoNightR mining algorithm to the new RandomX Proof-of-Work algorithm.   Although the main aim of the upgrade was keeping Monero completely resistant to ASIC mining, thus maintaining the coin decentralized, RandomX has essentially moved XMR mining to CPU, […]

The post Monero Hard Fork and RandomX: Make CPU Mining Great Again appeared first on Crypto Mining Blog.

Source : Miner Gate
1493 days ago

MinerGate coin list updates

MinerGate has always been excited to keep its finger on the pulse of the market. We strive to support the most popular coins and to refrain from those that are less demanded by our miners. After thorough analysis, we have decided to stop XMC and BCN pools on February 4, 2020. The mined balance will […]

The post MinerGate coin list updates appeared first on Crypto Mining Blog.

Source : Miner Gate
1713 days ago

MinerGate Exclusive: Interview with the chat moderator

Recently, we released our very own loyalty token – the MinerGate Token.  It’s the token that we believe will empower all parts of the MinerGate ecosystem and positively engage the community in the project’s life.  A few tokens have already been delivered to the most active users as gratitude for their contribution. As well, there […]

The post MinerGate Exclusive: Interview with the chat moderator appeared first on Crypto Mining Blog.

Source : Miner Gate
1714 days ago

Welcome MinerGate xFast 1.5

Dear miners, The MinerGate team is working hard to bring you the best mining solutions and user-friendly services. Making MinerGate a multifunctional platform will allow our new users to understand all mining processes faster and benefit from the cutting edge technologies available for our seasoned miners. MinerGate xFast miner is a highly efficient and easily […]

The post Welcome MinerGate xFast 1.5 appeared first on Crypto Mining Blog.

Source : Miner Gate
1724 days ago

MinerGate DSP Portal. Essential elements of decreasing the cost of developing DApp

For just a year, the EOS system has proved itself to be worthy of being a next-generation blockchain project with industry-leading scalability and transaction speed. Its philosophy and solutions are giving new opportunities to blockchain developers. Lots of dApps – a crucial part of the system – are now built on EOS. The number has […]

The post MinerGate DSP Portal. Essential elements of decreasing the cost of developing DApp appeared first on Crypto Mining Blog.

Source : Miner Gate
1725 days ago

News from our partners LumiWallet. Get EOS account for free!

MinerGate is pleased to announce that our partner – Lumi Wallet, a highly secure multi-currency wallet – is launching an EOS account giveaway. This giveaway campaign has become possible due to the productive collaboration of MinerGate, Lumi Wallet, and Changelly. MinerGate believes in EOS due to its next generation and open source blockchain protocol that […]

The post News from our partners LumiWallet. Get EOS account for free! appeared first on Crypto Mining Blog.

Source : Miner Gate
1734 days ago

MinerGate Has Become a DApp Service Provider

MinerGate has become a dApp Service Provider on the DAPP Network. It’s no secret that there have been some significant obstacles in the way of the efficient performance of dApp development. To develop on EOS, dApp developers must own and use RAM, which has its limitations. There are two of them: the high cost (more […]

The post MinerGate Has Become a DApp Service Provider appeared first on Crypto Mining Blog.

Source : Miner Gate
1754 days ago

MinerGate Token Is Now On EOSDAQ

Dear Miner, The MinerGate team is pleased to announce that our ultimate loyalty tool, the MG Token, is now available on EOSDAQ, the world’s first on-chain decentralized exchange. EOSDAQ is a platform that supports the peer-to-peer trade of EOS-based tokens. All transactions there are recorded on the blockchain in a transparent manner.  The EOS-based MinerGate […]

The post MinerGate Token Is Now On EOSDAQ appeared first on Crypto Mining Blog.

Source : Miner Gate
1760 days ago

HitBTC – The First Major Exchange To Support The MinerGate (MG) Token

Dear miner, We are glad to announce that HitBTC will be the first major exchange to list the MG Token. Support from HitBTC is an important step towards developing the MinerGate loyalty tool. HitBTC is one of the most advanced cryptocurrency exchanges out there, providing markets for more than 300 different cryptocurrencies. HitBTC delivers to […]

The post HitBTC – The First Major Exchange To Support The MinerGate (MG) Token appeared first on Crypto Mining Blog.

Source : Miner Gate
1770 days ago

MinerGate Token (MG): The Ultimate Loyalty Tool For Users

MinerGate is glad to introduce MinerGate Token (MG) – a token created as a loyalty tool. It is designed as a vital instrument to fuel the entire ecosystem of MinerGate products. We have always been focused on enhancing our service and providing better user experience, and now the new MG token is going to serve […]

The post MinerGate Token (MG): The Ultimate Loyalty Tool For Users appeared first on Crypto Mining Blog.

Source : CryptoNinjas
Added today

Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access

As a crypto analyst and frequent investor in the Greek digital currency market, I can confidently recommend Bcash for convenient and secure Bitcoin purchasing in Athens. With 10 strategically located crypto ATM hotspots spanning central Athens and the northern suburbs, Bcash enables instant access to leading cryptocurrencies like BTC, ETH, and USDT. Experience the Leading […]

The post Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access appeared first on CryptoNinjas.

Source : CryptoNinjas
53 days ago

Bitwise launching spot bitcoin ETF (BITB)

Bitwise Asset Management, the largest crypto index fund manager in America, announced today that the Bitwise Bitcoin ETF (BITB), the firm’s first spot bitcoin ETF, intends to begin trading today, January 11th. BITB will join Bitwise’s comprehensive suite of 18 crypto investment products, which currently includes five other crypto ETFs. “We expect significant demand for […]

The post Bitwise launching spot bitcoin ETF (BITB) appeared first on CryptoNinjas.

Source : CryptoNinjas
105 days ago

Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins?

It is no longer unusual to hear that a bank accepts savings in Bitcoin, Ethereum, and the like. Or that a loan company helps businesses with crypto. After all, the traditional financial and insurance industries were among the first to adopt cryptocurrencies. The latter ones have found more than one way to incorporate these means of payment […]

The post Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins? appeared first on CryptoNinjas.

Source : CryptoNinjas
112 days ago

4 Things We’ve Learned About Owning Bitcoin in 2023

For some people, the word bitcoin still triggers an eye-roll, but by now, most of us know that cryptocurrency is here to stay. With that in mind, it’s a good idea to make sure you’re clued up and well-educated on the topic, especially if you’ve ever considered investing yourself. However, with so much misinformation floating […]

The post 4 Things We’ve Learned About Owning Bitcoin in 2023 appeared first on CryptoNinjas.

Source : CryptoNinjas
154 days ago

Fuse Network welcomes Liquify as new blockchain infrastructure partner

Today, Fuse Network, an enterprise-grade, use-case agnostic, decentralized EVM-compatible public blockchain, announced Liquify as its newest remote procedure call (RPC) provider and ecosystem partner. Liquify will provide public RPC services – both free and private. RPC nodes help process requests from decentralized applications (dApps). They are vital for improving the usability of web3 and for […]

The post Fuse Network welcomes Liquify as new blockchain infrastructure partner appeared first on CryptoNinjas.

Source : CryptoNinjas
189 days ago

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

Welcome to the world of BITmarkets – a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various features and services provided by BITmarkets, including spot, futures, and margin trading. Whether a seasoned trader or just starting your cryptocurrency […]

The post BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies appeared first on CryptoNinjas.

Source : CryptoNinjas
189 days ago

Hong Kong’s first licensed crypto exchange HashKey is now live

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

The post Hong Kong’s first licensed crypto exchange HashKey is now live appeared first on CryptoNinjas.

Source : CryptoNinjas
251 days ago

Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and […]

The post Adenasoft launches new crypto exchange white label solution: ACE appeared first on CryptoNinjas.

Source : CryptoNinjas
257 days ago

Maximize Your ETH Investment: The ETHphoria Vault by Pods

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are bullish about its future prospects and want to earn even more from increasing prices. ETHphoria is a low-risk, principal-protected strategy designed […]

The post Maximize Your ETH Investment: The ETHphoria Vault by Pods appeared first on CryptoNinjas.

Source : CryptoNinjas
266 days ago

Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet

The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv. FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal. Who is […]

The post Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet appeared first on CryptoNinjas.

Source : CryptoNinjas
270 days ago

What is DeFi Returns? A new way of DeFi Investing

DeFi Returns brings comprehensive up-to-date information on DeFi strategies and protocols, to easily compare and analyze their performance. Getting the most reliable data source for historical yield on DeFi, to help users make informed decisions when investing in the ecosystem. All data displayed is sourced from the protocol’s smart contracts directly. The new DeFi Returns […]

The post What is DeFi Returns? A new way of DeFi Investing appeared first on CryptoNinjas.

Source : CryptoNinjas
286 days ago

RockX broadens suite with launch of new ether (ETH) native staking solution

RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with […]

The post RockX broadens suite with launch of new ether (ETH) native staking solution appeared first on CryptoNinjas.

Source : CryptoNinjas
299 days ago

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. […]

The post The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets appeared first on CryptoNinjas.

Source : CryptoNinjas
311 days ago

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network […]

The post CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’ appeared first on CryptoNinjas.

Source : CryptoNinjas
319 days ago

Crypto derivatives exchange Deribit to launch zero-fee spot trading

Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives. Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution […]

The post Crypto derivatives exchange Deribit to launch zero-fee spot trading appeared first on CryptoNinjas.

Source : CryptoNinjas
382 days ago

Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol

Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum. Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures […]

The post Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol appeared first on CryptoNinjas.

Source : CryptoNinjas
395 days ago

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain. This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem. […]

The post ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support appeared first on CryptoNinjas.

Source : CryptoNinjas
405 days ago

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Source : CryptoNinjas
409 days ago

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

Source : CryptoNinjas
414 days ago

Crypto securitization platform GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

Source : CryptoNinjas
423 days ago

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Source : CryptoNinjas
440 days ago

DeFi protocol Pods raises $5.6M to support its structured crypto products dApp

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Source : CryptoNinjas
446 days ago

Crypto derivatives exchange Deribit releases new client verification of assets tool

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Source : CryptoNinjas
452 days ago

Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

Source : CryptoNinjas
454 days ago

DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

Source : Wallet Invester
1988 days ago

Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

The post Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1988 days ago

Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

Source : Finance Magnates
4 days ago

Binance Faces Regulatory Storm as Executives Detained in Nigeria: Report

Two senior executives at Binance have been detained in Nigeria as the country intensifies its efforts to curb speculation on its currency, the Financial Times reported. This move followed Nigeria's recent ban on several cryptocurrency trading websites following the rapid devaluation of the naira and soaring inflation rates.

Cryptocurrency Crackdown in Nigeria

Nigeria's crackdown on cryptocurrency exchanges is due to a concern about the devaluation of the naira, which has contributed to a record-high inflation rate nearing 30%. Cryptocurrency websites have reportedly become an alternative platform for trading and establishing unofficial exchange rates for the naira. This has prompted Nigerian authorities to take action against these websites.

The detained executives traveled to Nigeria amid the ban but were detained by the office of the country's national security adviser upon arrival. Consequently, Binance suspended naira trading against Bitcoin and Tether on its platform. According to the FT, the Nigerian authorities seized the executives' passports.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, expressed concerns about illicit financial flows through cryptocurrency exchanges, citing $26 billion passing through Binance Nigeria in a year. The government, including anti-corruption agencies and the police, is conducting an investigation into cryptocurrency exchanges.

Government's Concerns and Investigation

Recently, the advisor to the Nigerian President, Bola Tinubu, called for a ban on cryptocurrency platforms like Binance and KuCoin. Bayo Onanuga accused these platforms of manipulating the naira and contributing to its decline in the foreign exchange market. According to a report by Finance Magnates, Onanuga urged the Economic and Financial Crimes Commission and the Central Bank of Nigeria to take immediate action and halt the operations of cryptocurrency exchanges.

Onanuga highlighted Binance's past regulatory issues in other countries, questioning its ability to operate responsibly in Nigeria. However, Binance denied manipulating the naira, emphasizing its market-driven approach and commitment to fair and transparent operations.

In the past, Binance maintained its commitment to engaging with authorities and addressing regulatory concerns. However, how this stand-off will unfold and what impact it will have on the Nigerian crypto community remain to be seen.

Meanwhile, the sentencing of Changpeng Zhao, Binance's CEO, in a case involving money laundering charges was postponed until April 30. While the reason for the delay remains unclear, the development adds another layer of uncertainty to the saga surrounding Zhao and Binance's dealings with US regulators.

The US Department of Justice claims that Binance failed to comply with anti-money laundering regulations. In addition to Zhao's personal charges, Binance entered into a settlement with the DOJ for $4.3 billion, effectively shutting down its operations within the US.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
4 days ago

Marathon Digital Posts Impressive Q4 Results: Revenue Up 452%

Marathon Digital Holdings has released its financial results for the fourth quarter and fiscal year 2023, highlighting impressive performance in revenue, net income, and BTC production.

During the fourth quarter of 2023, Marathon Digital reported an increase of 452% in revenue compared to the same period in 2022. The company sold 56% of the Bitcoins it produced during the quarter to fund operating costs and strengthen its financial position.

Similarly, during the fiscal year 2023, Marathon Digital's revenue soared 229% to an all-time high of $388 million. The company's net income experienced a remarkable turnaround, surging to $261.2 million, or $1.06 per diluted share. This was a significant improvement from the previous year's loss. Adjusted EBITDA also showed impressive growth, reaching $419.9 million.

Marathon Digital’s Hash Rate and Bitcoin Production

Marathon Digital's hash rate experienced an expansion of 253%, reaching 24.7 EH/s in 2023. Additionally, Bitcoin production saw substantial growth, rising 210% to a record 12,852 BTC. According to the press release, the company is focusing on optimizing fleet efficiency and expanding its mining portfolio.

Besides that, the company reduced debt 56% to $331 million and increased its combined unrestricted cash and Bitcoin holdings to $997 million. Additionally, Marathon Digital diversified its Bitcoin mining portfolio across 11 sites on three continents.

Fred Thiel, Marathon Digital’s Chairman and CEO, mentioned: "In 2024, we plan to grow our hash rate to approximately 35 to 37 exahash. By the end of 2025, we plan to be at 50 exahash, approximately double our current capacity."

"With orders for 22 exahash of miners already placed and options to add an additional 23 exahash to these orders, we believe there may be opportunities to accelerate our growth targets."

Growth and Expansion Efforts

Last year, Marathon Digital faced challenges when heatwaves in Texas and declining Bitcoin prices took a toll on its production. This resulted in a decrease of 9% in production in August compared to the previous month. The firm posted an average daily output of 34.3 BTC, down from July's figures.

Besides that, Marathon Digital's joint venture in Abu Dhabi contributed 50 Bitcoins in August, marking progress toward its goal of scaling up to 7 exahashes. As of August 31, 2023, Marathon held a total of 13,286 BTC, with plans for further expansion and growth initiatives.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
3 days ago

Crypto Giants Absent as Hong Kong Attracts 24 Companies for Licenses

Twenty-Four companies have applied for licenses to operate digital asset exchanges in Hong Kong, marking a move in the city's bid to establish a regulated hub for the industry. Notable applicants include Bybit, OKX, and Crypto.com.

Hong Kong's Bid to Become a Crypto Hub

Among the list of applicants were Gate.io, HTX, and Bullish, each boasting notable trading volumes in the digital asset sphere. The application process came with a deadline of February 29th, after which platforms failing to submit must cease operations by the end of May.

Notably absent from the applicant roster were industry giants like Binance, Coinbase, and Kraken. Industry observers view the application pool as a litmus test for Hong Kong's appeal as a digital-asset center, particularly amidst intensifying competition from other jurisdictions. The city's nine-month-old virtual-asset regulatory framework prioritizes investor protection, potentially introducing compliance costs that could deter some businesses.

“The application list is the litmus test for industry sentiment,” said Angela Ang, the Senior Policy Adviser at Blockchain Intelligence Firm TRM Labs. “It’s a good sign to see a number of well-known players in the mix. What Hong Kong really needs is a number of committed, sizable players to anchor its ecosystem.”

Ding Chen, the Head of Regulatory Affairs at Bullish, acknowledged the cost implications of operating a regulated business, drawing parallels with traditional financial services. Such considerations are factored into companies' overall strategies as they navigate Hong Kong's regulatory landscape.

Over-the-Counter Dominance: Crypto Flows Beyond Digital Exchanges

Hong Kong's pivot towards becoming a crypto hub in late 2022 reflects an effort to project a cutting-edge image amid uncertainties about the city's future. Presently, HashKey Exchange and OSL Group are the only authorized digital-asset exchanges operating in Hong Kong.

Gary Tiu, the Head of Regulatory Affairs at OSL, highlighted the evolving regulatory environment's impact on business construction and emphasized the need to assess associated costs.

Despite Hong Kong's allure as a crypto destination, data from Chainalysis indicates that a significant portion of crypto flows into the city occurs through over-the-counter (OTC) trades rather than digital-asset exchanges. Regulators have initiated crackdowns on small shops facilitating cash-to-digital asset exchanges, signaling efforts to streamline oversight.

Hong Kong is actively exploring regulations for stablecoins and considering the possibility of allowing exchange-traded funds investing directly in select cryptocurrencies. In a recent development, the government sold $750 million of digital green bonds using HSBC Holdings' tokenization platform, further underscoring the city's foray into digital finance.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
4 days ago

KuCoin and Revolut Forge Alliance for Instant Euro-to-Crypto Transactions

KuCoin has teamed up with Revolut to introduce a new method for purchasing digital assets using euros. This collaboration enables users to directly acquire various cryptocurrencies listed on the cryptocurrency exchange through Revolut Pay.

According to the press release, KuCoin's collaboration with Revolut aims to simplify the process of acquiring cryptocurrencies for European users. Revolut Pay allows users to convert euros to a variety of supported cryptocurrencies. This partnership addresses the growing demand for easy access to digital assets, especially amidst the ongoing surge in the value of Bitcoin.

Euro-to-Crypto Purchases

Revolut Pay allows users to complete transactions directly from their Revolut personal accounts. By clicking on the 'Revolut Pay' button and confirming the payment, users can initiate cryptocurrency purchases without intermediaries.

To celebrate the partnership, KuCoin, and Revolut are offering an exclusive promotion for the first 2,000 orders. Users who take advantage of this offer will enjoy 0% transaction fees (cash back) and have the opportunity to share a bonus prize worth $5,000.

Users can begin purchasing cryptocurrencies with Revolut Pay on KuCoin by completing the standard identity verification process. Once verified, they can navigate to the 'Buy Crypto' section, select 'Fast Trade,' choose the 'Fiat/Crypto' option, and then proceed to 'Revolut Pay' for payment confirmation.

Revolut Expands Offerings

Recently, Revolut launched its mobile wallets in Singapore to enable users to transfer money directly to Bangladesh and Kenya. These mobile wallets eliminate the need for traditional bank account details, such as IBANs or SWIFT codes.

Instead, users can initiate transfers using only the recipient’s name and contact information, such as their phone number or email address. Revolut's Standard accounts allow users to incur a fee of 0.4%, while Premium accounts incur 0.2%.

According to the press release, Revolut aims to enable users to easily navigate and access cross-border money transfer services. The introduction of mobile wallets aims to simplify the transfer process and to offer an alternative to traditional international cash transfers, particularly in countries like Bangladesh and Kenya, Finance Magnates reported.

Last year, KuCoin experienced substantial growth in 2023, with a surge in user base to over 31 million and a double-digit growth in spot trading volume compared to the previous year. The exchange’s spot trading volume soared an impressive 106%.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
7 days ago

FCA Registered OANDA Crypto Platform to Offer Crypto Trading in the UK

The US-based forex broker OANDA has announced its foray into the cryptocurrency trading realm in the United Kingdom with the launch of its new platform, OANDA Crypto. The platform, registered with the country’s financial regulator, the Financial Conduct Authority (FCA), is poised to offer an array of cryptocurrency trading options to British investors.

OANDA Ventures into the UK Crypto Market with OANDA Crypto Platform

The establishment of OANDA Crypto represents the culmination of last year’s acquisition of a majority stake in the FCA-registered crypto firm Coinpass. This strategic move positions OANDA to tap into the burgeoning crypto market in the UK, which has witnessed a surge in interest and participation.

OANDA Crypto is set to facilitate trading in over 63 cryptocurrency pairs featuring popular digital assets, such as Bitcoin, Ether, and Ripple. The company has outlined plans to incorporate additional tokens and introduce new features throughout the year, catering to the evolving needs and preferences of crypto traders.

Journey from the US to the UK and Mainland Europe

Lucian Lauerman, OANDA’s Head of Digital Assets, emphasized the allure of the UK market, citing its high level of participation and sophisticated investor base. In an interview, Lauerman stated: “What we liked about the opportunity in the UK, when it comes to crypto, is that it’s becoming more aligned with the markets where we’ve traditionally operated. The regulatory bar has been set slightly higher.”

OANDA’s expansion into the UK follows its existing presence in the US crypto market through a partnership with Paxos, regulated by the New York State Department of Financial Services. Furthermore, the company has realigned its operations in mainland Europe by relocating from Malta to Warsaw, Poland. This strategic move was facilitated by the acquisition of the Polish broker Dom Maklerski TMS Brokers SA, which has been rebranded as OANDA TMS.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
4 days ago

Winklevoss Twins’ Gemini Commits to Return $1.1 Billion to Earn Customers

Gemini Trust, owned and controlled by the Winklevoss twins, has settled with the New York State Department of Financial Services (DFS), committing to return $1.1 billion to the Earn customers, 100 percent of their locked-up holdings.

Settlement amid Monetary Commitments

Announced yesterday (Wednesday), Gemini will contribute $40 million towards the bankruptcy proceedings of Genesis, which provided services for the Earn program. Under the settlement, another $37 million will go to the New York regulator as a penalty for “significant failures that threatened the safety and soundness of the company.”

“Gemini failed to conduct due diligence on an unregulated third party, later accused of massive fraud, harming Earn customers who were suddenly unable to access their assets after Genesis Global Capital experienced a financial meltdown,” said the Superintendent of the DFS, Adrienne Harris.

“Today’s settlement is a win for Earn customers, who have a right to the assets they entrusted to Gemini.”

A Questionable Scheme

Under the Earn program, customers received interest against their digital assets, which were loaned to other customers. Gemini received the digital assets from the Earn customers and loaned them to Genesis, which later lent the assets to other counterparties. The program was launched in February 2021 and attracted over 200,000 customers, including about 30,000 New Yorkers.

The DFS has already settled fraud charges against now-bankrupt Genesis. That settlement ensured that assets about to go to the state regulator would be returned to former Earn customers and other Genesis creditors instead. Genesis also had to return its BitLicense and exit operations in the state.

The New York regulator further pointed out that apart from the Earn program, Gemini’s “unsafe and unsound practices” also threatened the company's financial health. The investigation found that an unregulated affiliate of Gemini collected “hundreds of millions of dollars in fees from Gemini customers,” ultimately weakening the company’s financial stability.

If, under the latest settlement, Gemini fails to return the proceeds to Earn customers, the DFS will take further action against the company. Gemini has committed to working through Genesis' bankruptcy process to ensure full recovery of Earn customers' assets.

This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
5 days ago

B2 Network Brings DeFi to Bitcoin via Bitget Wallet

Bitget Wallet, Asia's largest non-custodial Web3 wallet, has announced a new partnership with Bitcoin Layer 2 company B2 Network. The collaboration will give Bitget Wallet's over 15 million global users access to B2 Network's cross-chain transactions directly through Bitget's mobile and browser-based applications.

Bitget Partners with Bitcoin Layer 2 Network B2 to Enable Faster Transactions

By integrating smart contracts into the Bitcoin network, B2 Network serves as a platform for pioneering DeFi, NFT, derivatives, and other applications while leveraging Bitcoin's massive $1.1 trillion market capitalization. As an EVM-compatible Bitcoin Layer 2 solution built on zero-knowledge proofs, B2 Network enhances transaction speeds and expands application possibilities without compromising security.

Specifically, the partnership enables Bitget users to seamlessly conduct cross-chain transactions of BTC assets via B2 Network at faster speeds and lower costs than transacting directly on the Bitcoin blockchain. Users can also participate in B2 Network's airdrop programs through their Bitget Wallet connection.

"We keep engaging in Bitcoin ecosystem development, support and collaborate with Bitcoin protocols and Layer 2 networks, providing users with new assets and opportunities,” Alvin Kan, the COO of Bitget Wallet, commented on the partnership.

Bitget’s Recent Updates

The collaboration represents Bitget's ongoing efforts to systematically expand support for the wider Bitcoin ecosystem within its wallet platform. Recently, Bitget integrated over 20 other Bitcoin projects, added support for BRC20 and ARC20 transaction formats, upgraded its Launchpad to enable BRC20 token offerings, and connected to the Bitcoin Lightning Network.

With robust connectivity across hundreds of decentralized exchanges and cross-chain bridges, Bitget Wallet provides access to swaps, market data, and other features across more than 100 different blockchains.

In early February, the company appointed a new Chief Operating Officer, Alvin Kan, to boost global expansion plans.

Last month, Bitget enhanced its platform's wallet security by implementing Multi-Party Computation technology. This advancement utilizes distributed computing, homomorphic encryption, and Trusted Execution Environments to bolster wallet protection. Furthermore, the Web3 cryptocurrency wallet introduced a new "Smart Money" functionality, leveraging artificial intelligence to monitor activity from 6,000 "crypto whales" across Ethereum and Bitcoin networks. This feature aims to unearth potential trading opportunities.

In addition, Bitget has outlined a comprehensive approach focusing on enhancing product development, research, and investment efforts. This strategy aims to provide its users with sophisticated trading options and an improved asset management experience in the Bitcoin domain.

This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
6 days ago

Crypto.com Teams Up with BTG Pactual to Bridge Fiat and Crypto Economies in Latin America

The cryptocurrency exchange Crypto.com and BTG Pactual have partnered to boost banking services in Latin America. This collaboration aims to bridge traditional finance with the digital economy for millions of customers across the region.

This partnership involves the integration of BTG DOL, BTG's proprietary stablecoin pegged 1:1 to the US dollar, by Crypto.com. Launched with the support of BTG Pactual, BTG DOL facilitates transactions between traditional financial systems and the digital economy.

Expanding Financial Horizons

Eric Anziani, the President and Chief Operating Officer of Crypto.com, mentioned: "We at Crypto.com share BTG's vision of innovating financial technology responsibly to empower the economy. We are incredibly proud and excited to partner with BTG and to help broaden accessibility to the emerging digital economy in a significantly high potential region."

According to the press release, the partnership aims to democratize access to the digital economy by empowering individuals and businesses in Latin America. By leveraging financial technology, Crypto.com and BTG Pactual plan to drive economic growth and financial inclusion across the region.

The partnership between Crypto.com and BTG Pactual builds upon Crypto.com's presence in Latin America. The crypto exchange holds a Payment Institution License from the Central Bank of Brazil with its Crypto.com Visa Card available in the region.

Crypto.com's Global Expansion

Last year, Crypto.com, PayPal, and Paxos collaborated to facilitate the trading of PayPal USD (PYUSD) stablecoin on the Crypto.com platform. Crypto.com's latest partnership with PayPal and Paxos positioned it as one of the platforms for trading PYUSD.

PayPal launched PYUSD in August 2023, marking its foray into the stablecoin market. The collaboration between Crypto.com, PayPal, and Paxos underscored the increasing integration of traditional finance and the cryptocurrency ecosystem, Finance Magnates reported.

Additionally, Crypto.com secured a license from the Dutch central bank last year, enabling it to offer cryptocurrency services in the Netherlands. This marked another milestone for the Singapore-based exchange, following its approvals in Spain and France. In France, the company holds a Digital Asset Service Provider license, while in the UK, it operates under a crypto asset business license.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
9 days ago

Does the Bitcoin Halving Still Matter in 2024?

Every four years, the Bitcoin halving occurs, meaning that the amount of new coins issued through mining rewards is cut in half. When Bitcoin first launched, mining rewards were 50 BTC. Currently, that figure is 6.25 BTC, and after the next halving, it will be reduced to 3.125 BTC.

The halving occurs every 210,000 blocks rather than on pre-specified dates, but this corresponds to a roughly four-year cycle, which means that the next reduction in issuance should reach us this April. Notably, a glance at BTC’s price action since inception reveals a repeating pattern of vertical gains, deep corrections, and drawn-out recoveries, and this sequence appears to correspond closely with the halvings, leading among bitcoin traders to an entrenched belief in halving-driven movements.

However, as Bitcoin has matured and grown in market capitalization, and with the introduction now of spot Bitcoin ETFs in the United States, some are questioning whether the halving event is still relevant, while you can also find a few voices asserting that the halving was in fact never as important as assumed, arguing instead that other, less obvious factors have fueled price movements up to now.

The Case Against Halving Importance

As described, the halvings cut miner rewards in half, but there is an argument that this had more impact when most of the final supply had not yet been issued. However, as of right now, around 93.5% of Bitcoin’s total supply is already in circulation. That means less than 1.4 million BTC, from the capped total supply of 21 million BTC, remains to be created, and so, as a result, new issuance is creating a smaller splash in a larger pool.

On top of this, the Bitcoin market cap is far larger now than in the early days of the asset’s existence, currently sitting just above $1 trillion, which is approaching the November 2021 all-time high of over $1.2 trillion. This still puts BTC a long way off gold (for which it is touted as a digital replacement), which has a market cap of around $13.6 trillion, but nonetheless, BTC is a weightier asset than it once was, which corresponds to reduced volatility.

And then there is the fact that if BTC really is here for the long run, is growing in value and adoption as supply nears its cap, and is now a Wall Street asset sold through ETPs into the portfolios of investors who have no special interest in crypto, then halvings must, at some point, cease to influence the determination of a fair price.

Ultimately, after fifteen years, Bitcoin has moved towards the mainstream: spot ETFs reposition BTC within the investing landscape; if institutional adoption catches on, it will reinforce that shift and banking institutions are currently pushing the SEC to allow them to custody crypto. While the halvings might have been influential in BTC’s infancy, meaningful acceptance at scale may start a transition away from those early dynamics.

Why the Halving Might Never Have Mattered

Although it may not be a widely adhered to point of view, it’s worth being aware of the case for the halving not simply becoming reduced in significance but never having actually been a critical factor affecting bitcoin's price cycles.

Essentially, it’s a simple argument: larger rises and falls in Bitcoin’s price may appear to match up with halving events, but they also correspond closely with ups and downs in the global M2 money supply, and from there, it's plausible that it is in fact the latter influence, liquidity, that is the primary driving factor.

Reasons the Halving Is Still Important

On the other side of the fence, most arguments for the importance of the halving come down to straightforward matters of supply and demand, which aren’t eclipsed by the arrival of spot ETFs. In fact, this view takes into account the ETFs: last week, ETF inflows were eating up, on average, around 9,000 BTC per day, while new coin issuance is only around 900 BTC per day, an amount which, after the halving will be reduced to around 450 BTC per day.

That means the ETFs–as things stand, pre-halving–are taking in around ten times more bitcoin than is being newly issued, and so on the surface of it, cutting issuance in half looks significant. But there’s also another, less quantifiable factor at work, which is trading psychology, along with the influence of popular narratives and shared beliefs.

Look at any of the visualized, long-term Bitcoin projections that circulate online, running from launch in 2009 to the current moment and then out into the next decade, and the halvings feature prominently. In fact, they are often the central columns from which emanate blow-off tops and crypto-winter troughs, and what’s more, BTC's repeating price swings appear remarkably well-ordered.

As such, the idea that the halvings are fundamental to price action has become ingrained, and from this perspective, even if the halvings didn’t matter from a technical standpoint, they would still be critical simply because they influence expectations, and expectations influence behavior.

Or, to put it another way, as long as enough people believe that the halvings matter, then the halvings may still continue to be important.

This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
11 days ago

Blockchain and Humanitarian Aid

Traditionally, the process of disbursing funds during humanitarian crises has been marred by challenges such as bureaucratic delays, lack of transparency, and the potential for mismanagement of funds. These hurdles not only hinder the prompt delivery of aid but also erode the trust of donors and beneficiaries. In response to these challenges, the financial services industry is increasingly turning to blockchain technology as a viable solution.

Blockchain's Role in Transparent Financial Transactions

Blockchain, the underlying technology behind cryptocurrencies like Bitcoin, operates on a decentralized ledger system. Accordingly, instead of relying on a central authority, transactions are recorded and verified by a network of computers, ensuring transparency and accountability. In the context of humanitarian aid, this decentralized nature can significantly streamline the flow of funds and reduce the risk of corruption.

One of the key advantages of blockchain is its ability to create "smart contracts" – self-executing contracts with the terms of the agreement directly written into code: A feature which allows for automated and transparent financial transactions, ensuring that funds are allocated and spent as intended. Smart contracts, embedded within the blockchain, can be programmed to trigger immediate disbursements when predefined conditions are met, eliminating the need for manual intervention and expediting aid delivery.

Addressing Security Concerns with Blockchain

Security is paramount in any financial transaction, and humanitarian aid is no exception. Blockchain's cryptographic protocols provide a level of security that is unparalleled in traditional financial systems. Transactions recorded on the blockchain are tamper-resistant, reducing the risk of fraud and ensuring that aid reaches its intended recipients.

Additionally, the decentralized nature of blockchain mitigates the risk of a single point of failure. In the event of a crisis, where infrastructure may be compromised, the distributed nature of blockchain ensures that the financial system remains resilient and operational.

Real-world Applications and Success Stories

Several organizations and initiatives have already embraced blockchain technology to enhance transparency and efficiency in humanitarian aid. The United Nations World Food Programme (WFP) has successfully implemented blockchain to distribute cash assistance to Syrian refugees in Jordan, enabling recipients to purchase food from local markets. The transparent and traceable nature of these transactions ensures that aid reaches those in need, fostering accountability throughout the process.

Similarly, non-governmental organizations (NGOs) like Oxfam are exploring blockchain solutions to track and authenticate cash transfers in crisis zones. By leveraging blockchain, these organizations are not only improving the efficiency of their operations but also instilling confidence in donors that their contributions are making a meaningful impact on the ground.

A Catalyst for Innovation

The adoption of blockchain in humanitarian aid acts as a catalyst for broader financial innovation. The lessons learned and the solutions devised for transparent aid disbursement can be extrapolated to reshape traditional financial systems. Financial institutions may find inspiration in the efficiency, security, and transparency achieved through blockchain, prompting a reevaluation of their own processes.

Global Collaboration and Standardization

Blockchain's decentralized nature has the potential to foster increased collaboration and standardization across borders. As humanitarian organizations, governments, and financial entities collaborate on blockchain-based solutions, they pave the way for the establishment of global standards. These standards, once realized, could transcend the realm of humanitarian aid, influencing how financial transactions are conducted globally, with heightened security and interoperability at the forefront.

Trust and Accountability in Finance

The inherent transparency of blockchain transactions addresses a longstanding issue in the financial services industry – the erosion of trust. By showcasing a model where transactions are open, traceable, and automated through smart contracts, blockchain technology has the power to rebuild trust in financial institutions. As this technology matures, consumers and businesses alike may come to expect a higher standard of transparency and accountability in all financial interactions.

Challenges of Adoption and Regulatory Considerations

While the potential benefits are substantial, the road to widespread blockchain adoption in financial services is not without challenges. Regulatory frameworks must evolve to accommodate the nuances of blockchain technology, ensuring its seamless integration into existing financial systems. Striking the delicate balance between innovation and compliance will be crucial to realizing the full potential of blockchain in reshaping the financial landscape.

Ripple Effects on Financial Inclusion

As blockchain facilitates transparent financial transactions, it has the potential to contribute significantly to financial inclusion. The efficiency and accessibility offered by blockchain-based systems may extend financial services to unbanked and underbanked populations, providing them with a secure means to engage in transactions and access financial services. This, in turn, aligns with global efforts to bridge the financial inclusion gap.

Shift in Business Models

The integration of blockchain may necessitate a shift in traditional business models within the financial services sector. Financial institutions may need to adapt to the new paradigm by embracing decentralized approaches, exploring tokenization of assets, and rethinking how they deliver services. This shift could redefine the competitive landscape, with institutions that embrace blockchain standing at the forefront of industry evolution.

Overcoming Challenges and Looking to the Future

While the potential of blockchain in humanitarian aid is vast, challenges remain. Adoption requires collaboration among governments, NGOs, and financial institutions, along with addressing concerns related to scalability, interoperability, and regulatory frameworks.

As the financial services industry continues to embrace blockchain technology, the impact on humanitarian aid is poised to be transformative. Transparent, efficient, and secure financial transactions will not only ensure that aid reaches those who need it most but also reinvigorate trust in the humanitarian sector.

In conclusion, the marriage of blockchain and humanitarian aid represents a paradigm shift in the way financial transactions are conducted during crises. With continued innovation and collaboration, the promise of transparent and accountable aid delivery may well become a reality, offering a brighter future for those affected by adversity around the globe.

This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
4 days ago

Bitcoin’s Rally beyond $60,000 Leaves Coinbase Users with Zero Balance

Bitcoin surpassed $60,000 yesterday (Wednesday). It also exposed the readiness of a top crypto exchange, Coinbase, as some of its services crashed due to massive demand. Many Coinbase users complained that their balance on the exchange dropped to zero. Coinbase has confirmed that “all customer account balance display issues have been restored.”

Heavy Traffic Collapsed the Tech

The inaccurate balance information came with a technical glitch on Coinbase. The exchange also pointed out that “due to increased traffic, some customers may still see errors in login, sends, receives and with some payment methods,” further ensuring that “funds are safe.”

After about 12 hours, the support team of the San Francisco-based exchange confirmed that all services were restored, including the “account balance display issues.”

The Bitcoin Rally

Bitcoin underwent a massive rally in the last 24 hours, gaining about 11 percent. The cryptocurrency crossed the $60,000 mark after two years and is now trading at more than $63,300 as of press time. The Bitcoin rally suddenly took pace as it jumped over 22 percent in the last 48 hours. The Bitcoin rally also pushed other top cryptocurrencies: Ethereum gained about 7 percent in the last 24 hours, while Solana gained 13.6 percent.

As always, the wild rally of Bitcoin pushed traders to jump onto the bandwagon with FOMO. Brian Armstrong, the CEO of Coinbase, also tweeted following the rally that his crypto exchange was “dealing with a LARGE surge of traffic.”

“We had modeled a ~10x surge in traffic and load-tested it. This exceeded that number,” Armstrong added.

Coinbase is the top cryptocurrency exchange in the United States. Although several other top exchange brands are operating in the country, nothing could challenge the dominance of Coinbase.

Meanwhile, the publicly traded shares of Coinbase are witnessing massive demand from investors as it gained about 22 percent in the past five days and more than 152 percent in the past six months.

This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
6 days ago

BitForex Plunges Offline amidst $57 Million Crypto Withdrawal Mystery

BitForex, a Hong Kong-based cryptocurrency exchange, has recently faced significant disruptions as it abruptly went offline following the mysterious withdrawal of $57 million from its hot wallets. The situation was first brought to light by the blockchain detective ZachXBT, who noted the cessation of withdrawal transactions and the apparent unresponsiveness of BitForex's team.

Withdrawal Mystery and Exchange Disruptions

Efforts to access BitForex's official website have been met with a message indicating blocked access, exacerbating concerns surrounding the exchange's operational status. This development follows warnings issued by Japanese regulators last year against BitForex and other exchanges, including Bitget, MEXC Global, and Bybit, for operating without proper registration. Moreover, in 2019, Chainalysis reported suspicions of inflated trading volumes by BitForex.

The situation escalated further when, a day before halting withdrawals, approximately $56 million worth of cryptocurrencies were withdrawn from BitForex's wallets. ZachXBT detailed that three of BitForex's hot wallets experienced outflows totaling about $56.5 million in cryptocurrencies before the exchange ceased processing transactions.

Since May 2023, there have been no updates from BitForex's social media accounts, and users have reported various issues, including being unable to access their accounts and encountering blank dashboards. Some users have also shared screenshots indicating they have been blocked from accessing the company's website.

Japan's Financial Services Agency and BitForex's Unregistered Operations

In September 2023, BitForex ranked among the top global crypto exchanges by capitalization, boasting a daily trading volume of approximately $2.6 billion. However, CoinMarketCap no longer provides live data on BitForex.

Earlier in April 2023, Japan's Financial Services Agency accused BitForex of violating the country's fund settlement laws by operating without proper registration. However, there has been little to no significant regulatory or media attention on BitForex since then.

This incident occured amidst broader concerns within the cryptocurrency industry, including the recent actions of another Hong Kong exchange, Atom Asset Exchange (AAX), which moved around $55.6 million worth of Ether from its wallets. AAX ceased all operations on November 13, 2022, shortly after the high-profile bankruptcy of FTX. Following the shutdown, AAX's CEO, Thor Chan, and Board Member, Haoming Liang, were arrested by Hong Kong police. The Founder of AAX, who remains unidentified, allegedly remains at large with substantial user funds and access to exchange wallets.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
5 days ago

FTX Founder's Lawyer Seeks Leniency for Sam Bankman-Fried

The lawyer representing Sam Bankman-Fried, the Founder of FTX, urged US District Judge Lewis Kaplan yesterday (Tuesday) to consider a lenient sentence for his client's conviction related to the alleged misappropriation of funds from customers of the now-defunct cryptocurrency exchange. Bankman-Fried's attorney, Marc Mukasey, emphasized that most clients would likely recover their funds, mitigating the severity of the situation.

Bankman-Fried Asserts Innocence and Plans to Contest Sentence

The sentencing submission presented by Mukasey proposed a prison term ranging between five years and three months to six years and six months, a notably shorter duration compared to the maximum sentence of 110 years that Bankman-Fried faces following his conviction on seven counts of fraud and conspiracy. Prosecutors had labeled the case as one of the most significant cases of financial fraud in American history.

Bankman-Fried, who pleaded not guilty to the charges, intends to appeal both his conviction and the anticipated sentence. Throughout the trial, he maintained that any errors in managing FTX were not indicative of an intention to defraud customers, underscoring his commitment to rectifying the situation.

Scheduled for sentencing on March 28, Bankman-Fried, who will turn 32 next week, stands at a critical juncture as the court weighs the appropriate punishment. In a bid to influence the court's decision, letters of support from his parents, psychiatrist, and other well-wishers were submitted alongside Mukasey's plea for leniency.

US Attorney's Office to Issue Recommendation

Joseph Bankman and Barbara Fried, Bankman-Fried's parents, recounted their son's diligent efforts to restore customers' funds following FTX's collapse in November 2022, underscoring his altruistic intentions amid the tumultuous period preceding his arrest.

Mukasey vehemently criticized the probation officers' recommendation of a 100-year guidelines range, dismissing it as "barbaric" and contesting the notion that Bankman-Fried had knowingly defrauded customers. He highlighted FTX's recent assurances regarding the full repayment of customers, asserting that Bankman-Fried had consistently aimed to uphold his financial obligations.

The sentencing deliberations remain fluid, as the US Attorney's office in Manhattan is poised to present its sentencing recommendation by March 15, shaping the outcome of this high-profile case that has reverberated across the cryptocurrency community and beyond.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
10 days ago

Kraken Fires Back: Challenges SEC Lawsuit as Regulatory Overstep

The cryptocurrency exchange Kraken has filed a motion to dismiss the lawsuit brought forth by the US Securities and Exchange Commission (SEC). The lawsuit, initiated following Kraken's vocal testimony before Congressional committees, has ignited a debate about the boundaries of regulatory authority.

Kraken's Defense against SEC Allegations

Kraken's testimony, delivered on May 10, 2023, underscored its concerns regarding the lack of comprehensive regulation governing the digital asset industry. The exchange emphasized the necessity for tailored rules to safeguard consumers and investors while also advocating for limitations on the SEC's jurisdiction in crafting crypto exchange regulations.

The SEC's subsequent decision to sue Kraken, which the exchange views as retaliation for its outspoken advocacy, has sparked a legal battle centering on fundamental questions of regulatory authority and investor protection.

At the heart of Kraken's defense is the assertion that the SEC's allegations lack substance, focusing solely on registration-based arguments rather than claims of fraud or consumer harm. Kraken challenges the SEC's interpretation of crypto tokens as "investment contracts," arguing that the SEC fails to establish the presence of a contractual agreement between buyers and token issuers, a cornerstone requirement under existing legal precedent.

Legal Debate: Interpreting Howey Test in Cryptocurrency Sphere

Moreover, Kraken contests the SEC's application of the Howey test, a pivotal legal standard for determining whether a transaction constitutes an investment contract. The exchange argues that the SEC's expansive interpretation of the Howey test, without requisite elements such as pooled investments or expectations of profits from a common enterprise, sets a dangerous precedent for regulatory overreach.

Kraken's motion to dismiss invokes the Major Questions Doctrine, a legal principle aimed at curbing arbitrary agency expansion without clear congressional authorization. The exchange contends that the SEC's attempts to extend its jurisdiction into the burgeoning digital asset industry lack a mandate from Congress, raising concerns about the abuse of regulatory power.

In its defense, Kraken underscores its commitment to advocating for clear and coherent regulatory frameworks that promote innovation while safeguarding market participants. The exchange maintains that while regulatory clarity is essential, the SEC's approach to litigation reflects an alarming departure from established legal norms, potentially stifling innovation and impeding the growth of the crypto industry.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
6 days ago

Kraken Unveils New Platform for Institutional Clients amid ETF Boost

The cryptocurrency exchange Kraken has introduced a new platform customized for institutions, asset managers, hedge funds, and high net-worth individuals. Dubbed Kraken Institutional, this platform consolidates various products and services offered by the exchange to address the needs of institutional clients following the surge in crypto exchange-traded funds (ETFs).

Tim Ogilvie, the Global Head of Institutional at Kraken, mentioned: "Institutional adoption of crypto is growing rapidly, and with the launch of Kraken Institutional, we're poised to grow with this client segment."

"The recent ETF approval has spurred broader institutional demand; with Kraken Institutional, Kraken is pulling together products and services to meet the needs of institutional clients. Like crypto itself, Kraken Institutional is moving fast: expect more to come in the near future."

Meeting Growing Institutional Demand

Kraken Institutional aims to streamline access to the crypto asset class for institutions, promising reliable, scalable, and easily integrable solutions. The new platform encompasses spot trading, over-the-counter trading, and staking services. The surge in institutional adoption of crypto, catalyzed by the recent approval of spot Bitcoin ETFs, has prompted the exchange to create dedicated solutions tailored to institutional requirements.

Recently, the Securities and Exchange Commission made history by officially approving the first spot Bitcoin ETF in the United States. This approval followed years of anticipation and numerous applications from asset managers seeking to offer investors direct exposure to Bitcoin through traditional financial markets.

Global Interest and Regulatory Dynamics

Last month, reports emerged that Kraken's subsidiary, CF Benchmarks, was engaging with 50 firms seeking its services for spot Bitcoin ETF pricing.

As regulatory frameworks evolve, asset managers and financial institutions are exploring spot Bitcoin ETF pricing to tap into the burgeoning crypto market, Finance Magnates.

CF Benchmarks, already serving major players like BlackRock and Franklin Templeton, has witnessed a significant uptick in interest, with half of the firms in talks based in the US, while others are from Europe and Asia.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
4 days ago

Institutional Investors FOMOing into Bitcoin ETFs as Price Eyes New Highs

A BlackRock exchange-traded fund (ETF) investing in Bitcoin (BTC) saw record inflows of $520 million on Wednesday, marking the largest daily intake for any US ETF across asset classes so far this year.

All this comes as the price of BTC tests $64,000 and is just a step away from its historical highs of 2021. The market is currently dominated by speculative frenzy, and "greed" is at a level never seen before.

BlackRock Bitcoin ETF Sees Record Inflows amid Crypto Rally

The BlackRock iShares Bitcoin Trust (IBIT) has seen steady investor demand, registering 32 consecutive days of inflows. As of Wednesday, nine Bitcoin spot ETFs combined saw trading volume over $2.6 billion, with IBIT breaking its own record at $1.5 billion.

The surge of investments into Bitcoin ETFs comes amidst a broader rally in cryptocurrency prices. BTC hit a two-year high on Wednesday, nearing its all-time record, while other major digital assets like Ethereum also saw significant gains.

Analysts say the successful launch of Bitcoin spot ETFs in January 2024 has opened the door to fresh investments from wealth managers, hedge funds, and retail traders. The ease of trading BTC via ETFs is helping drive its price higher by boosting demand.

"The market is waking up to the fact that Bitcoin is now easily accessible to the masses and that we are only just scratching the surface as far as mainstream adoption goes," said Joel Kruger, the Market Strategist at LMAX Group. "We also believe there has been plenty of excitement around lower correlations with US equities, which makes Bitcoin all the more attractive as an investment for portfolio diversification."

Clearly, the demand for leverage in the cryptocurrency market is influencing investors' behavior. Higher costs in the futures market and decentralized finance are leading to an increased need for crypto borrowing.

"Investors are increasingly seeking avenues to obtain liquidity in a high-rate environment, prompting them to turn to lending platforms that offer lending and futures services within an easily navigable interface," commented Andrey Stoychev, the Project Manager at Nexo. "The demand for borrowing in familiar settings is not just a reflection of the market's adaptability to external economic factors but also leads to a significant trend in the cryptocurrency ecosystem."

WisdomTree European BTC ETPs Exceed $500 AuM

Another issuer of exchange-traded instruments, WisdomTree, reported record results. Its European cryptocurrency exchange-traded products (ETPs) have surpassed the $500 million mark in assets under management. This figure marks a historic peak for WisdomTree's European crypto ETPs, which have experienced net inflows of $59 million into their portfolio in 2024, predominantly driven by WisdomTree Physical Bitcoin.

According to market experts, the inflows have been primarily driven by retail investors rather than institutions. As more financial advisors get approved to offer Bitcoin ETFs to clients, analysts expect volumes to increase over the next year.

"The launch of spot bitcoin exchange-traded funds in the US has changed the way many investors look at cryptocurrencies as an investable asset class," Alexis Marinof, the Head of European branch of WisdomTree, said. "As attention turns to the Bitcoin halving expected in April, investors are seeing more potential within the asset class."

Greed Is Everywhere

BTC's price has more than doubled over the last few months, recently exceeding $64,000. This rapid price growth has led to euphoric sentiment, with the crypto fear and greed index reaching its highest level (86) since BTC hit its previous all-time high of around $69,000 in November 2021.

This index ranges from 0 to 100, with 0 representing "extreme fear" and 100 representing "extreme greed." A high index level signals that investors are becoming overly greedy, believing that cryptocurrency prices will continue to rise. This often precedes a market correction as prices eventually become detached from fundamentals.

Some analysts argue that such high greed signals that the crypto market is due for a correction, as excessive optimism generally foreshadows a price reversal. Ultimately, while extreme greed suggests crypto prices have significant room to fall, the durability of current market optimism makes the exact timing of a correction challenging to predict.

This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
5 days ago

Bybit Integrates TradingView to Simplify Crypto Market Analysis

The cryptocurrency exchange Bybit has integrated TradingView to enhance its users' trading experience. According to the company, this step eliminates the hassle of switching between platforms, providing users with direct access to spot and futures trading symbols within their TradingView's charts.

Ben Zhou, the Co-Founder and CEO of Bybit, mentioned: "Bybit's integration with TradingView reflects its unwavering commitment to providing users with the most advanced tools and resources. This collaboration empowers Bybit's users to make informed trading decisions while streamlining their overall trading experience."

Bybit's Broker Profile on TradingView

The integration offers Bybit's users access to TradingView's suite of technical and fundamental analysis tools. On the new platform, traders can compare different symbols, set up personalized alerts for real-time market movements, and access deeper insights through charts.

Additionally, Bybit has unveiled the Bybit Broker Profile page on TradingView. This platform has enabled users to directly trade on Bybit using their existing TradingView accounts.

Last year, Bybit marked its fifth anniversary by launching its vision for Web 3. The exchange aims to create a decentralized ecosystem accessible to all users. By integrating multi-wallet functionality, Bybit intends to streamline the management of its digital wallets to foster collaborations within the blockchain community and bridge the gap between Web 2 and Web 3.

Plans to Expand Offerings

Bybit's vision for Web 3 extends to directly providing users access to decentralized applications, NFT marketplaces, and various Web 3 services from the Bybit Wallet.

Besides that, the crypto exchange plans to enhance its Web 3 infrastructure by collaborating with various blockchain ecosystems and projects, including partnerships with the Oracle Red Bull Racing Velocity series and launching a revamped NFT marketplace.

Recently, Bybit established an office in Amsterdam in collaboration with SATOS, a company holding a virtual asset service provider license in the Netherlands.

Bybit's decision to open an office in this region marked a strategic move to tap into opportunities presented by the Dutch regulatory environment. With a growing interest in crypto assets, the exchange plans to enhance its local presence and better serve the Dutch crypto community, Finance Magnates reported.

This article was written by Jared Kirui at www.financemagnates.com.
Source : Finance Magnates
6 days ago

Turkish Traders Welcome OKX.TR: Goes Live with TRY Trading Pairs

OKX, the cryptocurrency exchanges, has unveiled OKX.TR, a localized platform tailored for Turkish traders. The new exchange offers trading pairs denominated in Turkish Lira (TRY), catering to the burgeoning interest in digital assets within the country.

Cryptocurrency Adoption amid Economic Challenges and Government Leniency

The expansion into Turkey was initially announced by OKX in early 2023, reflecting the exchange's strategic vision to tap into emerging markets. OKX.TR introduces trading pairs, such as USDT/TRY, BTC/TRY, and ETH/TRY.

Amidst Turkey's economic challenges, such as soaring inflation rates, many residents seek refuge in cryptocurrencies. Despite the uncertainties, the Turkish government has shown relative leniency towards cryptocurrency activities, possibly recognizing its widespread usage and the potential ramifications of alienating a sizable portion of the population.

In an interview with CoinDesk, the President of OKX, Hong Fang, emphasized Turkey's significance as a pivotal market for cryptocurrency adoption. Fang stated: "Turkey is a very important and special market for us. It ranks high in terms of crypto adoption and crypto transaction volume. There is a natural tendency to look for value in bitcoin in Turkey, particularly for wealth preservation."

Major Turkish banks like Akbank and Garanti BBVA have ventured into the cryptocurrency space, signaling the country's regulatory landscape and growing acceptance of digital assets.

OKX Middle East Fintech FZE Obtains VASP License from Dubai's VARA

Earlier, the Dubai-based subsidiary of the crypto exchange OKX, known as OKX Middle East Fintech FZE, announced the acquisition of a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority (VARA), as reported by Finance Magnates. This license allows the company to provide virtual asset exchange services.

Dubai, a prominent emirate within the UAE recognized for its supportive environment for service-based businesses, recently implemented crypto regulations through a framework and established VARA as a dedicated regulatory body overseeing the sector. Additionally, the company operates in various locations including Hong Kong, the Bahamas, and France.

This article was written by Tareq Sikder at www.financemagnates.com.
Source : Finance Magnates
Added today

OANDA Crypto Goes Live in the UK, but Regulatory Hurdles Remain

Looking over the global crypto landscape, it seemed recently as though the UK wasn't keeping pace with other regions. In the US, the SEC finally approved spot Bitcoin ETFs, and the new products have enjoyed an explosive start, demonstrating sustained demand and impressive volumes.

There is anticipation also for similar ETFs in Hong Kong, and on the regulatory front, the EU appears to be moving quickly, having already created a bespoke package of crypto regulation called MiCA.

Meanwhile, over in the UK, it’s been an uncertain picture with mixed messages, as among promises from some politicians of an innovative approach, regulatory clarity is yet to emerge, and there appears to be a risk that crypto enterprises might choose to look elsewhere for welcoming locations in which to do business.

However, amid the ambiguity, a positive signal has flashed, with London-based trading platform OANDA Crypto launching for business in the UK. As the name suggests, the OANDA Crypto exchange is an offshoot of the US-based, globally-operating brokerage firm OANDA, which already operates a crypto arm in the US in collaboration with stablecoin issuer Paxos.

Regulatory compliance has become a key concern for companies wishing to operate British crypto services, and in OANDA’s case, its entry into the UK crypto market was enabled through the acquisition, last August, of a majority stake in British crypto firm Coinpass, which is itself registered with UK regulator the Financial Conduct Authority (FCA.)

The new launch stands out as it’s occurring at a time when several crypto-native platforms (including major names Kraken and Binance) have been pausing or limiting their services for UK-based users due to concerns about compliance with FCA crypto rules.

However, in the case of OANDA and Coinpass, it appears that dealing with the FCA and offering crypto services to UK users are viable prospects.

New Laws Within Six Months?

All in all, it’s a mixed picture in the UK, especially when it comes to assessing the overall intentions of the authorities towards the crypto industry. At the same time, though, we now have OANDA Crypto moving decisively and in full compliance with those authorities, and in a further positive development, meaningful attempts to clear up the rules and, in the process, define a long-term strategy, may soon be on the way.

Earlier this month, the UK’s Economic Secretary to the Treasury, Bim Afolami, indicated that the government is in a hurry to get its guidelines on crypto fully in place and operational when he stated publicly, with reference to creating legislation around stablecoins and crypto staking,

“We want to get these things done as soon as possible. And I think over the next six months, those things are doable.”

Certainly, the crypto world is moving fast at the moment, and after the crashes and collapses of 2022, when FTX went bankrupt, followed by 2023's rapid recovery, which was impressive, but during which mainstream attention was elsewhere, 2024 is now taking on a markedly different, and far more bullish, character.

With that in mind, the pressure is now on regulators to have constructive crypto strategies in place.

FCA Demonstrates Commitment to Advertising Enforcement

As for how the FCA is regulating crypto in the UK right now, new rules around promotion came into effect last October, which distinguish crypto assets from regular high-risk investments, and categorize them instead as “restricted mass market investments”, with close controls on the ways they can be marketed.

Subsequently, according to an FCA report published earlier this month which presents data from 2023, the FCA has–since new regulation came into force through to the end of 2023–issued 450 consumer alerts with regards to crypto firms breaching promotional regulations and brought about the removal from app stores of 35 crypto products.

Additionally, the FCA has spoken of creating what it terms “positive frictions” for users of crypto platforms, with, for example, those who want to trade crypto required first to effectively pass a test by correctly answering a series of crypto-related questions.

However, there have been anecdotal complaints from users claiming to be seasoned traders, who were baffled by what they saw as unexpected quizzes, and on the whole, there are questions about how this approach aids in optimally positioning the UK as a serious contender in the crypto industry.

After all, a constant area of focus among those working in crypto is on how to remove friction from the crypto experience and ease participation for newcomers, and as such, it may be disconcerting to witness initiatives to deliberately place bumps in the road while at the same time hearing from politicians (up to and including Prime Minister Rishi Sunak) that Britain can become a Web3 frontrunner.

Ultimately, then, while news of OANDA Crypto’s UK launch comes as a welcome indicator that Britain is a place where crypto firms can operate, the need for a consistent approach from the authorities remains in the background.

This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
4 days ago

Blockchain in Pharma Payments: Ensuring Traceability in Drug Supply Chain Transactions

In recent years, the pharmaceutical industry has been undergoing a transformative journey, with blockchain technology emerging as a cornerstone in reshaping payment transactions and ensuring unprecedented traceability in the drug supply chain

Blockchain, the decentralized and distributed ledger technology, lays the foundation for trust and transparency in the pharma payments landscape. By leveraging cryptographic techniques, each transaction is securely recorded in a tamper-resistant and transparent manner. This not only addresses the trust deficit often associated with financial transactions in the pharmaceutical sector but also ensures a high level of data integrity across the supply chain.

Pharma Payments in the Blockchain Era

In the traditional pharma payment landscape, transactions are often complex, involving various stakeholders, from manufacturers and distributors to pharmacies and healthcare providers. The implementation of blockchain technology streamlines this intricate web of financial interactions. Smart contracts, self-executing contracts with the terms of the agreement directly written into code, automate and enforce payment agreements, reducing the risk of errors and disputes.

Traceability: From Manufacturer to Patient

One of the paramount advantages of integrating blockchain in pharma payments is the enhanced traceability it offers throughout the entire drug supply chain. Every stage of the pharmaceutical journey, from manufacturing to distribution and retail, is recorded in real-time on the blockchain. This ensures that the provenance of each drug can be traced back to its origin, providing unparalleled visibility and accountability.

Ensuring Supply Chain Integrity

Blockchain's immutable nature ensures that once data is recorded, it cannot be altered or deleted. This feature plays a pivotal role in safeguarding the integrity of the drug supply chain. Any attempt to tamper with information, whether regarding the production date, storage conditions, or shipping details, would be immediately flagged, preserving the authenticity of pharmaceutical products.

Reducing Counterfeit Drugs and Fraud

Counterfeit drugs pose a significant threat to global public health, with the World Health Organization estimating that up to 10% of drugs available worldwide are counterfeit. Blockchain acts as a powerful deterrent against this menace. The transparent and unforgeable nature of blockchain records allows stakeholders to verify the authenticity of drugs at each stage. Patients, healthcare providers, and regulatory bodies can access a secure and immutable ledger to confirm the legitimacy of pharmaceuticals.

Smart Contracts: Revolutionizing Financial Transactions

Smart contracts, an integral component of blockchain technology, automate and streamline financial transactions in the pharma industry. In the context of payments, smart contracts execute payment agreements when predefined conditions are met. For example, a smart contract may automatically trigger a payment from a distributor to a manufacturer upon successful delivery of a batch of drugs. This automation not only reduces the risk of delayed payments but also enhances efficiency and accountability.

Challenges and Considerations in Implementing Blockchain in Pharma Payments

While the benefits of integrating blockchain in pharma payments are substantial, the implementation of this technology comes with its own set of challenges. Regulatory considerations, standardization of protocols, and the need for widespread industry adoption are crucial aspects that demand attention. Regulatory bodies need to adapt to the evolving landscape, providing a framework that encourages innovation while ensuring compliance with existing pharmaceutical regulations.

Conclusion: A New Era in Pharma Transactions

In conclusion, the integration of blockchain in pharma payments marks a paradigm shift in the industry. From ensuring traceability and reducing counterfeit drugs to automating financial transactions through smart contracts, blockchain technology is revolutionizing the way pharmaceutical transactions occur. As the industry continues to embrace this transformative technology, the future holds the promise of a more secure, transparent, and efficient pharma payment ecosystem.

This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Bitcoin Magazine
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