What is Open Interest? Open Interest measures the number of Bitcoin futures contracts that are currently open on exchanges. When this number increases, it means more people are betting on Bitcoin’s price. Recent Surge in Open Interest Lately, Bitcoin’s Open Interest has skyrocketed. This suggests that a significant amount of speculation is happening in the…
Traditional Finance Embraces Crypto Geoff Kendrick, a Standard Chartered analyst, predicts that traditional fund managers will soon invest in cryptocurrencies. The recent launch of spot Bitcoin Exchange-traded funds (ETFs) in the US and the strong performance of Bitcoin and Ethereum have sparked interest in crypto-based investments. 401k Market Poised to Shift Kendrick believes that retirement…
Hedge fund manager Anthony Scaramucci is still confident in his prediction that Bitcoin (BTC) will reach $170,000, calling it “conservative.” Halving Event and Historical Pattern Scaramucci believes Bitcoin’s price tends to rise 4x from its value at the time of a halving event, which reduces miners’ rewards. With Bitcoin’s price around $50,000 at the last…
Subheading 1: A Bold Prediction Ric Edelman, founder of the Digital Assets Council of Financial Professionals, predicts a massive $20 billion inflow into spot Bitcoin ETFs by the end of 2024, up from the current $2 billion. Subheading 2: Drivers of the Surge Independent financial advisors, who manage around $50 trillion in assets, are expected…
XRP supporter and lawyer John Deaton is reportedly exploring a Senate run against Democratic incumbent Elizabeth Warren in the 2024 US Senate elections. Deaton’s Connections to Massachusetts Deaton, who represented XRP holders in the SEC’s case against Ripple, highlighted his deep ties to Massachusetts in a social media post: Lived in Swansea, Massachusetts Practiced law…
Investigation in ‘Final Stages’ The US Securities and Exchange Commission (SEC) is wrapping up its probe into allegations of conflict of interest involving Ethereum (ETH) regulation. The investigation, known as “ETH Gate,” has drawn attention from the XRP community, which has criticized the SEC’s handling of crypto regulation. Focus on Former SEC Official The investigation…
Internet Computer (ICP) has recently taken the top spot in a crucial metric, surpassing Cardano (ADA). Development Activity: A Measure of Project Health Development Activity measures the amount of work done by a project’s developers on its public GitHub repository. This includes code changes, issue interactions, and comments. To avoid inaccuracies, Santiment’s indicator tracks “events”…
Running a Validator Empire A single Ethereum whale, known as ‘Sullendef,’ has claimed ownership of 1000 validators on the Starknet network. These validators are worth an estimated $100 million in Ethereum. Misidentified as an Exchange Initially, Sullendef’s validators were mistakenly identified as belonging to a cryptocurrency exchange. This raised concerns about the whale’s eligibility for…
Aptos, the blockchain network, has joined the smartphone game with the JamboPhone, a budget-friendly device that aims to make the digital world more accessible in developing countries. This move follows Solana’s launch of the Saga phone, raising questions about the impact of crypto smartphones on the tech landscape. Bridging the Digital Divide The JamboPhone aims…
A well-known crypto analyst, Altcoin Sherpa, has shared his predictions for a Chainlink rival that has already seen an 85% surge this year. Price Targets for Pyth Network (PYTH) Altcoin Sherpa plans to use Fibonacci extensions to set price targets for Pyth Network (PYTH), a data aggregation service. He has already identified three targets: $0.6979…
