Bitcoin’s potential environmental benefits highlight a stark contrast with the traditional financial system’s exploitation of natural resources. Margot Paez, a fellow at the Bitcoin Policy Institute, has examined Bitcoin through the lens of a climate activist, questioning mainstream narratives about its environmental impact. Her research reveals that Bitcoin, often criticized for its energy consumption, may […]
The post How Bitcoin can save the environment ending FIAT’s abuse of natural resources appeared first on CryptoSlate.
The post Ether Spot ETFs To Attract $5B Net Inflows in First 6 Months: Gemini appeared first on Coinpedia Fintech News
Ethereum spot ETFs are gearing up for a massive influx, with forecasts suggesting a whopping $5 billion surge in their early stages, courtesy of insights from Gemini. This forecast aligns with earlier predictions from Bitwise and K33 Research. Wish to know more? Step in! Tracing Ethereum’s Rise According to a report, Gemini predicts that Ethereum …
Timing is everything. "If you bought Bitcoin at the recent all-time high," he wrote, "you might feel like a beta cuck."
The digital asset market is experiencing a wave of investor caution, with Ethereum leading the charge. CoinShares reports show a third consecutive week of outflows, with Ether sustaining the biggest damage. This negative sentiment in the top altcoin, coupled with sluggish trading volumes and regional outflows across the market, paints a picture of a market searching for direction. Related Reading: Dogwifhat (WIF) Jumps 21% As Analysts See $4.5 Price Tag Ethereum Faces Headwinds Despite Upcoming Milestone Ethereum, the world’s second-largest cryptocurrency, has seen the worst outflows of any digital asset this year, reaching a staggering $61 million last week. The dismal figure could be attributed to the delay in approving a spot Ethereum ETF, a highly anticipated event that has been in the works for nearly three years. According to CoinShares, digital asset investment products saw $30 million in outflows last week, the third consecutive week of outflows. Ethereum saw its largest outflow since August 2022, totaling $61 million, making it the worst performing digital asset investment product so… — Wu Blockchain (@WuBlockchain) July 1, 2024 The long wait for regulatory greenlight might be causing investors to hold off on commitments, creating uncertainty in the Ethereum market. However, the upcoming launch on July 4th remains a pivotal moment. Analysts are closely watching to see if this long-awaited development triggers a surge in Ethereum adoption or if it simply cannibalizes existing Bitcoin ETF investments. Mixed Signals: Regional Divergence And Altcoin Interest While the overall trend points towards caution, there are regional variations in investor sentiment. The United States, for example, defied the global trend and witnessed inflows of $43 million, suggesting continued American interest in the digital asset space. Similarly, inflows into multi-asset and Bitcoin Exchange-Traded Products (ETPs) indicate a preference for diversification and established players. This highlights the ongoing appeal of a broader exposure to the digital asset landscape, rather than a singular focus on any one cryptocurrency. Interestingly, amidst the Ethereum outflow woes, some altcoins are experiencing a resurgence. Solana and Litecoin, for instance, saw inflows, suggesting that investors are seeking opportunities beyond the top two cryptocurrencies. This diversification could be a sign of a maturing market where investors are conducting a more thorough risk assessment and exploring undervalued gems within the vast digital asset ecosystem. Related Reading: Ethereum Goes Budget-Friendly: Transaction Fees Drop To Lowest Since 2016 Navigating Uncertain Waters The current state of the digital asset market is one of cautious optimism. While outflows and Ethereum’s struggles are undeniable concerns, positive inflows in specific regions and products offer a counterpoint. The upcoming Ethereum ETF launch is a wild card, potentially acting as a catalyst for further adoption or simply reshuffling existing investments. Investors are likely to remain watchful in the near future, carefully weighing risk and reward before making significant commitments. Featured image from Parents, chart from TradingView
The Monetary Authority of Singapore released its stablecoin framework last year.
The crypto world is grappling with a million-dollar question – what is the German government doing with its massive Bitcoin holdings? According to data by Lookonchain, the recent transfer of 1,500 BTC, valued at roughly $95 million, has sparked a frenzy of speculation, with seasoned investors both worried and intrigued. Related Reading: Ethereum Co-Founder Blasts […]
BlackRock’s IBIT and Grayscale’s GBTC, the two largest spot Bitcoin ETFs by net asset value, saw zero flows on Monday.
The post Ripple Moves 1 Billion XRP from Escrow: A Sign of XRP Lawsuit Settlement? appeared first on Coinpedia Fintech News
There were a lot of questions about the XRP Ledger Escrow and whether the Ripple Escrow unlock was valid. On July 1, Ripple unlocked 1 billion XRP from escrow but kept 1.3 billion XRP in its spendable wallets, fueling speculation about a potential settlement in the SEC case. Ripple first moved 1.1 billion XRP to …
Binance.US, the American arm of the world’s largest crypto exchange by trading volume, Binance, is ready for the next phase of its ongoing legal dispute with the Securities and Exchange Commission (SEC), according to a July 1 statement. The firm stated: “On Friday, the Court decided that the SEC’s case against Binance.US will continue. We […]
The post Binance US is confident that the ‘SEC’s case is unsupported by the facts or the law’ appeared first on CryptoSlate.
Ether’s market value relative to bitcoin is close to multiyear lows, and strong inflows into spot ETH ETFs could spark a catch-up trade, the report said
Binance.US is gearing up for an extended legal battle with the SEC, emphasizing its commitment to compliance and criticizing the agency’s enforcement tactics.
Quick Take Farside data shows that on July 1, Bitcoin (BTC) exchange-traded funds (ETFs) experienced a significant influx of $129.5 million, marking the largest inflow since June 7. This surge represents the fifth consecutive trading day of positive inflows, coinciding with Bitcoin’s price consolidation above the $60,000 mark. Among the ETF issuers, Fidelity’s FBTC led […]
The post Bitcoin ETFs see largest inflow since June 7 with Fidelity leading at $65 million appeared first on CryptoSlate.
The post Rumors Circulate: Dan Gallagher Could Replace Gensler as SEC Chair Under Trump appeared first on Coinpedia Fintech News
Names are starting to circulate for Gensler’s post at SEC. Rumors are floating, that if Donald Trump wins, it could be Dan Gallagher, who is now at Robinhood and who has already been at the SEC. A much softer attitude is expected in this case. Here’s the truth behind it! Gensler May Step Down, If? …
The post Top Two Altcoins to Long in the Coming Weeks Amid Ongoing Crypto Bullish Sentiment appeared first on Coinpedia Fintech News
The total crypto market cap stabilized around $2.43 trillion in the past 24 hours as Bitcoin (BTC) led in the generally bullish outlook. After several weeks of notable cash outflows from crypto investment products, the trend has gradually shifted in the past few days. For instance, the US-based spot Bitcoin ETFs registered a total cash …
The post Bitcoin Price To Retest Its Lower Support Before Preparing For An Upward Trajectory! appeared first on Coinpedia Fintech News
As per the latest Bitcoin (BTC) market sentiments and price trends, the star crypto is looking for a higher low and support. The BTC price hints at a potential retest around $61K to $61.5K range this month. Following this, a slow upward price action is to be expected from the market leader for the markets …
The post Is Altcoin Season On The Horizon, Here’s What Analyst Weighs In appeared first on Coinpedia Fintech News
Altcoins (TOTAL3) market cap is still 70% below their previous highs, while Bitcoin is near its all-time high (ATH). Market experts suggest that the stage is set for a major rally in altcoins, supported by positive developments such as the approval of the Spot Ethereum ETF by the US Securities and Exchange Commission (SEC) on …
Arthur Hayes, the co-founder of crypto exchange BitMEX, has recently offered a comprehensive analysis in his latest essay, “Zoom Out,” drawing compelling parallels between the economic upheavals of the 1930s-1970s and today’s financial landscape, specifically focusing on the implications for the Bitcoin and crypto bull run. His in-depth examination suggests that historical economic patterns, when properly understood, can provide a blueprint for understanding the potential revival of the Bitcoin and crypto bull run. Understanding Financial Cycles Hayes begins his analysis by exploring the major economic cycles starting from the Great Depression, through the mid-20th century economic booms, and into the stagnant 1970s. He categorizes these transformations into what he terms “Local” and “Global” cycles, central to understanding the broader macroeconomic forces at play. Local Cycles are characterized by intense national focus where economic protectionism and financial repression are prevalent. These cycles often arise from governmental responses to severe economic crises that prioritize national recovery over global cooperation, typically leading to inflationary outcomes due to the devaluation of fiat currencies and increased government spending. Related Reading: Bitcoin Price Blasts Past $63,000: Top 3 Reasons Global Cycles, in contrast, are marked by periods of economic liberalization, where global trade and investment are encouraged, often leading to deflationary pressures due to increased competition and efficiency in global markets. Hayes carefully examines each cycle’s impact on asset classes, noting that during Local cycles, non-fiat assets like gold have historically performed well due to their nature as hedges against inflation and currency devaluation. Hayes draws a direct parallel between the creation of Bitcoin in 2009 and the economic environment of the 1930s. Just as the economic crises of the early 20th century led to transformative monetary policies, the financial crash of 2008 and subsequent quantitative easing set the stage for the introduction of Bitcoin. Why The Bitcoin Bull Run Will Resume Hayes argues that Bitcoin’s emergence during what he identifies as a renewed Local cycle, characterized by the global recession and significant central bank interventions, mirrors past periods where traditional financial systems were under stress, and alternative assets like gold rose to prominence. Expanding on the analogy between gold in the 1930s and Bitcoin today, Hayes elucidates how gold served as a safe haven during times of economic uncertainty and rampant inflation. He posits that Bitcoin, with its decentralized and state-independent nature, is well-suited to serve a similar purpose in today’s volatile economic climate. Related Reading: Mt. Gox’s Bitcoin Dump: How Will The $9 Billion Sell-Off Affect BTC’s Price? “Bitcoin operates outside the traditional state systems, and its value proposition becomes particularly evident in times of inflation and financial repression,” Hayes notes. This feature of Bitcoin, he argues, makes it an indispensable asset for those seeking to preserve wealth amidst currency devaluation and fiscal instability. Hayes points out the significant surge in the US budget deficit, projected to reach $1.915 trillion in fiscal 2024, as a modern indicator that parallels the fiscal expansions of past Local cycles. This deficit, significantly higher than in previous years, marking the highest level outside the COVID-19 era, is attributed to increased government spending akin to historical periods of government-induced economic stimuli. Hayes uses these fiscal indicators to suggest that just as past Local cycles led to increased valuation for non-state assets, the current fiscal and monetary policies are likely to enhance the appeal and value of Bitcoin. “Why am I confident that Bitcoin will regain its mojo? Why am I confident that we are in the midst of a new mega-local, nation-state first, inflationary cycle?” Hayes asks rhetorically in his essay. He believes that the same dynamics that drove the value of assets like gold during past economic upheavals are now aligning to bolster the value of Bitcoin. He concludes, “I believe fiscal and monetary conditions are loose and will continue to be loose, and therefore, hodl’ing crypto is the best way to preserve wealth. I am confident that today will rhyme with the 1930s to 1970s, and that means, given I can still freely move from fiat to crypto, I should do so because debasement through the expansion and centralisation of credit allocation through the banking system is coming.” At press time, BTC traded at $62,649. Featured image from YouTube / What Bitcoin Did, chart from TradingView.com
The development team behind popular dog-themed meme coin and Shiba Inu competitor, Floki (FLOKI) has issued a critical warning to investors. The Floki team has alerted its community to be vigilant against a new scam attack designed to exploit investors. Scammers Target Floki Investors On June 29, the Floki team took to X (formerly Twitter) […]
The Cardano Foundation and CCRI release MiCA-compliant sustainability indicators in an effort to position Cardano ahead of the regulatory curve with a focus on energy efficiency and transparency.
Ether-tracked investment products have collectively lost nearly $120 million in the past two weeks while bitcoin products recorded inflows.
Tucked away in a footnote as part of a recent statement, the SEC Commissioner said his agency’s current approach to crypto does not aid capital formation or protect investors.
On-chain data shows the Ethereum long-term holders have recently been increasing their total share of the cryptocurrency’s supply. Ethereum HODLers Currently Carry The Majority Of ETH Supply According to data shared by the market intelligence platform IntoTheBlock in a post on X, the Ethereum long-term holder supply has been on the rise recently. The “long-term […]
The crypto market could bounce back this month after a rocky June, with stablecoin outflow from exchanges showing slowing selling pressure.
The post Northern Data AG Eyes $16B Valuation with Upcoming Nasdaq IPO appeared first on Coinpedia Fintech News
Exciting news from Northern Data AG! German Bitcoin miner Northern Data AG is planning an initial public offering (IPO) for its cloud computing and data center businesses, aiming for a valuation of up to $16 billion, according to a Bloomberg report. Potential Separate Listing for Peak Mining As per the report, the company plans to …
The post Toncoin (TON) Price Bullish Action Hints A 15% Surge To A New ATH? appeared first on Coinpedia Fintech News
The cryptocurrency market has displayed a stable price action over the past day after kickstarting the month of July on a bullish note. Further, top crypto tokens have successfully held on to their recent gains, indicating increased positive influence in the crypto space. On the other hand, the TON price continues to trade under a …
The post New Investor Protection Regulations in South Korea: What It Means for Crypto Investors appeared first on Coinpedia Fintech News
South Korea is poised for a significant shift in its cryptocurrency market. As new investor protection laws come into force on July 19, crypto exchanges are preparing to review and adapt their lightings. What does this mean for the market and cryptocurrency traders? Let’s dive in! South Korea’s New Crypto Regulations The Virtual Asset User …
Coinbase’s push for an appellate review seeks to bring stability to the application of securities laws to crypto assets.
The post Cardano Trying to Rise Above Bearish Captivity: ADA Price May Secure $0.5 if This Trade Plays Out Well appeared first on Coinpedia Fintech News
The crypto markets are turning hopeful as the prices of the various tokens have been gaining acute strength. Since the Bitcoin price reclaimed the monthly highs above $63,300, the altcoins have become extremely bullish. Moreover, tokens like Cardano, which has been maintaining an extended bearish trend, will demonstrate a huge price action in the next …
The post Tom Lee’s Bitcoin Price Prediction 2024: BTC Price To Hit $150,000 by Year-End appeared first on Coinpedia Fintech News
In an interview with CNBC, Tom Lee, co-founder and head of research at Fundstrat Global Advisors, has reminded investors holding over $6 trillion in cash to adopt the Bitcoin (BTC) way. Lee reiterated his end-of-year (EOY) Bitcoin price prediction of $150,000, fueled by global macroeconomic fundamentals. According to Lee, investors seeking a 5 percent yearly …