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Quick Take Data compiled by an anonymous X account, dividendology. Over the past 40 years, the S&P 500 has averaged an 11% annual return. Despite experiencing drawdowns in just seven years—1990, 2000, 2001, 2002, 2008, 2018, and 2022—the index has delivered impressive gains, with the best years exceeding 30% returns, notably in 1985, 1989, 1991, 1995, […]
The post Bitcoin’s 2024 growth upholds an extraordinary 63% CAGR appeared first on CryptoSlate.
All but two assets in the gauge lost ground over the past week, led by UNI's 14% decline.
The CEO of the on-chain analytics firm CryptoQuant explained that Bitcoin’s price isn’t currently overvalued based on its network fundamentals. Bitcoin Price May Not Be Overvalued Yet Based On Thermo Cap Ratio In a new post on X, CryptoQuant CEO and founder Ki Young Ju has discussed about how the recent trend in the Bitcoin Thermo Cap Ratio has been like. The “Thermo Cap” is a capitalization model for BTC that calculates the total value of the asset by taking each token’s value as the same as the spot price when it was mined on the network. Related Reading: Crypto Analyst Says Bitcoin Will Rise To $79,600 If This Holds Put another way, this model calculates the cumulative value of the coins mined by the miners since the inception of the blockchain. This is quite different from what, for example, the usual market cap does. In the market cap’s case, the current spot price is taken as the value of all coins in circulation. As the coins that miners mine are the only way to increase the cryptocurrency’s supply, the Thermo Cap may be considered a measure of the “true” capital inflows coming into the network. Here is a chart that displays how the Bitcoin Thermo Cap has changed over its history: As the above graph shows, the Thermo Cap has seen an accelerating growth curve. This naturally reflects the increasing amount of capital flowing into the asset over the years. In the context of the current topic, though, the indicator of interest isn’t the Thermo Cap itself but rather the Thermo Cap Ratio. This metric tracks the ratio between the Bitcoin market cap and the Thermo Cap. The chart below shows the trend in the Thermo Cap Ratio over the asset’s history. An interesting pattern is visible in the graph. It appears that very high values of the Thermo Cap Ratio have coincided with highs in the cryptocurrency’s price. Related Reading: Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally? At high values, the Bitcoin market cap is quite large compared to the Thermo Cap, meaning that coins are trading at a much higher rate than they were mined at. It’s also apparent that bottoms in BTC occur when the ratio assumes low values. The recent trend in the indicator has been that of a rise, but its value has not touched the levels where bull run tops would have happened in the past. “Bitcoin is not currently overvalued based on network fundamentals,” notes the CryptoQuant founder. BTC Price Bitcoin has been unable to break out of its range recently as its price has kept up the trend of sideways movement. At present, BTC is trading at around $68,900. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The Web3 Foundation, the organization behind Polkadot, has awarded a Decentralized Futures (DF) grant to PolkaPort East to foster the blockchain network’s expansion in Asia, according to a June 4 statement shared with CryptoSlate. This marks Web3 Foundation’s first DF grant to an Asia-based entity. The grant aims to enhance Polkadot’s decentralization through technical, community, […]
The post Web3 Foundation boosts Polkadot’s Asia presence with grant to PolkaPort East appeared first on CryptoSlate.
If approved by the judge, FTX would pay the IRS $200 million now and $685 million as a junior subordinated claim later.
Binance's native BNB token is approaching an all-time high of $705 after surging by more than 10% from Sunday's low of $597.
India's voters have sprung an election surprise, even though Prime Minister Narendra Modi's party and its allies are poised to return to power, a result that could see the government kick the crypto policy can down the road" in terms of its priorities.
Allocating just 1% of Berkshire Hathaway's portfolio to Bitcoin could have boosted Warren Buffett's profits by over 25%.
Bitcoin rose to as high as $70,000 on June 3, signaling a bullish outlook for the flagship crypto. This price surge is believed to be due to some recent developments that are positive for the Bitcoin ecosystem. Interest Rate Cuts Could Come In September Data from The CME FedWatch Tool shows that the probability of […]
The post Ethena Price Loses Momentum! Will ENA Price Reclaim $1 In June? appeared first on Coinpedia Fintech News
The Ethena (ENA) price has recorded significant price action over the past few days, highlighting an increase in the price action for the altcoin in the cryptocurrency market. However, the bulls displayed a weak price action close to its $1 mark, resulting in the price losing momentum. The ENA price has recorded a loss of …
Former OpenAI, Anthropic, and DeepMind employees urge AI companies to expand whistleblower protections to publicly address AI risks amid growing concerns over the “deprioritization” of safety.
The post Will Binance (BNB) Coin Price Achieve New ATH As Bullish Sentiment Intensifies? appeared first on Coinpedia Fintech News
The volatility in the crypto market is on a constant rise, indicating increased buying and selling pressure in the crypto space. However, top tokens have displayed a reduced price action over the past week, highlighting uncertainty for these altcoins in the market. On the other hand, the Binance Coin price has experienced a bullish jump …
Miami, Florida, 4th June 2024, GamingWire
A meme coin issued on Bitcoin's Runes protocol is nearing a $1 billion market cap following a 200% surge over the past 30 days.
Stablecoin adoption is soaring in the region as many people turn to the crypto tokens as a shield against currency devaluation and cheap remittances.
Polygon Labs acquires Toposware, advancing ZK rollup technology and reinforcing its position in Web3 development.
The post Polygon Labs acquires Toposware to enhance ZK capabilities appeared first on Crypto Briefing.
Quick Take Grayscale’s Bitcoin Trust (GBTC) is experiencing a notable flow shift driven by positive Bitcoin price movements. This shift contrasts with earlier this year when even favorable Bitcoin price action failed to curb GBTC outflows. Since the launch of US Bitcoin ETFs, which collectively amassed $14 billion in inflows, BlackRock’s IBIT has surpassed Grayscale’s […]
The post Positive Bitcoin price action drives renewed interest in Grayscale’s GBTC appeared first on CryptoSlate.
A Galaxy Digital report reveals Ethereum’s decentralized governance avoids direct on-chain voting, detailing key stakeholder roles and transparency challenges.
Venture capitalist and billionaire investor, Chamath Palihapitiya has predicted that Bitcoin could witness an unprecedented price increase to $500,000. This ambitious forecast hinges on the potential for a bull run following Bitcoin’s fourth halving cycle, which occurred on April 20 2024. Bitcoin To Surge To $500,000 Palihapitiya has entered a notable discussion regarding the impact of historical halving cycles on Bitcoin’s value. The billionaire investor shared a price analysis illustrating Bitcoin’s performance and trend patterns following each halving event. Related Reading: XRP Hasn’t Had A Bull Cycle Since 2017, Analyst Reveals What Will Happen When It Does According to Palihapitiya, historically, Bitcoin has reached new all-time highs after each halving cycle. He highlighted a correlation between Bitcoin’s halving events from 2012 to 2024, detailing the cryptocurrency’s price actions one month, three months, six months, nine months, 12 months and 18 months post-halving. Palihapitiya noted that during the first three months after a Bitcoin halving event, investors are usually still reassessing the event and its impact on the crypto market. However, he revealed that from 6 to 18 months post-halving, Bitcoin witnessed an exponential price appreciation, pushing it to new all-time highs. “Bitcoin price has increased materially following each halving, with the bulk of the returns realized between 12 months and 18 months after the halving event,” Palihapitiya wrote. He disclosed that 18 months after Bitcoin’s first halving cycle, the cryptocurrency’s price increased by 45X. Following the second halving cycle, Bitcoin rose almost 28X, and after the third halving, it surged nearly 8X. Based on these halving patterns, Palihapitiya has projected Bitcoin’s future value to reach $500,000 by October 2025, expecting it to follow a similar trend as its previous halving cycles. BTC Could Replace Gold In his discussion, Palihapitiya disclosed that by analyzing the average patterns of Bitcoin’s previous halving cycles, the cryptocurrency could potentially surge to a peak of $1.4 million. He declared that Bitcoin could completely replace gold if it reaches such levels of appreciation, emphasizing its potential to become a digital currency with transactional utility for hard assets. Based on the averages of the second and third halving cycles, the billionaire investor projects Bitcoin’s price to rise to $99,643 six months after its halving event in April, reaching $238,623 in nine months, $362,997 in 12 months and nearly $500,000 in 18 months. Palihapitiya also disclosed several factors that could contribute to Bitcoin’s rise to $500,000. He stated that the increasing demand for Spot Bitcoin Exchange Traded Funds (ETFs) could have a significant impact on the value of Bitcoin in 2024. Related Reading: Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin This prediction may hold weight considering Bitcoin saw a consistent price increase at the beginning of the year after the approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). The cryptocurrency’s price exceeded $73,000 after the launch of Spot Bitcoin ETF, officially marking a new all-time high since 2021. Featured image created with Dall.E, chart from Tradingview.com
StarkWare’s fund seeks to promote research into OP_CAT and demonstrate its potential to unlock and benefit Bitcoin and the blockchain community in general.
Worldcoin agrees to suspend activities in Spain until the end of the year or until a resolution is reached by the German data authority in ongoing data protection investigations.
Spot Bitcoin exchange-traded funds (ETFs) are gaining traction globally, as evidenced by a recent regulatory decision in Thailand. After the US Securities and Exchange Commission (SEC) approved these products in January, they have seen substantial inflows after a recent dip in volumes. Bitcoin ETF lands in Thailand Thailand’s Securities and Exchange Commission (SEC) has reportedly […]
The post Bitcoin ETFs show ‘staying power,’ now landing in Thailand appeared first on CryptoSlate.
The deal brings Polygon’s cumulative zero-knowledge technology investment to over $1 billion, the company said. Toposware’s team is behind Polygon’s Type 1 Prover technology.
Avail, led by a Polygon co-founder, raises $75 million to tackle Web3 challenges like fragmentation and data availability.
Bitcoin long-term holder "inactivity" is being slowly challenged as BTC emerges from hibernation, in some cases lasting over a decade.
The Securities and Exchange Commission (SEC) of Thailand has officially approved One Asset Management (ONEAM) to launch the country’s first spot Bitcoin exchange-traded fund (ETF), a landmark decision in the nation’s financial sector. This ETF will be exclusively available to wealthy and institutional investors, reflecting a cautious regulatory stance towards retail investor participation. Thailand Continues […]
Cloud computing provider CoreWeave made an offer to buy the bitcoin miner for $5.75 per share, according to Bloomberg.
Solana could emerge as a leading blockchain for payment institutions. Is a Solana-based ETF next?