Exchange Deposits Remain Low Data shows that Bitcoin deposits on major exchanges like Binance and OKX have been low recently. This suggests that large holders, or “whales,” are not eager to sell. Bullish or Neutral Signal? Low exchange inflows can indicate either bullish or neutral sentiment for Bitcoin. If outflows are also low, it suggests…
Hong Kong is set to approve its first spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) as early as Monday, according to Bloomberg. Approval Process The Securities and Futures Commission (SFC) is finalizing the approval process, with Harvest Global Investments and a partnership between Bosera Asset Management and HashKey Capital likely to receive the…
Grayscale CEO Michael Sonnenshein has shed light on when his company plans to lower fees for the Grayscale Bitcoin Trust (GBTC). When Fees Will Drop Sonnenshein says GBTC fees will only go down once “Spot Bitcoin ETFs start to mature.” Spot Bitcoin ETFs are funds that track the price of Bitcoin, and GBTC currently has…
The Environmental Impact of Bitcoin Mining Despite its reputation as a wasteful and dirty industry, Bitcoin mining can be as environmentally friendly as any other. It requires only a small fraction of global electricity usage (0.2% to 0.9%) and has a carbon footprint of 78.7 million metric tons of CO2 per year in the US….
Mantle Network (MNT) Analyst Altcoin Sherpa believes MNT, an Ethereum scalability solution, is one of the strongest coins. He predicts it could surpass its all-time high. MNT is currently trading at $1.30. Solana (SOL) Altcoin Sherpa suggests that SOL could drop to $140, its previous trading range bottom. He recommends buying in the $175-$200 range….
Kraken, a major cryptocurrency exchange, is planning to delist Monero (XMR) in Ireland and Belgium starting in June. Delisting Timeline May 10, 2024: Trading and deposits for XMR will be halted. June 10, 2024: Withdrawals for XMR will be halted. June 10, 2024: Any remaining XMR balances will be automatically converted into Bitcoin (BTC). Impact…
Marathon Digital CEO Fred Thiel shares his insights on the upcoming Bitcoin halving and its potential impact on the cryptocurrency’s price. Halving’s Effect The halving, scheduled for April 19th, will reduce the daily Bitcoin production from 900 to 450. Thiel believes this will have a “small impact” on the price. ETF Influence Thiel suggests that…
Solana Projects Clash Solana-based lending protocols MarginFi and Solend, along with liquid staking platform SolBlaze, have been embroiled in a public dispute. SolBlaze accused MarginFi of failing to replenish BLZE tokens in their rewards system for three weeks. MarginFi denied the claims, saying the issue had only been ongoing for eight days due to network…
Uniswap and Across Collaborate Despite facing an SEC investigation, Uniswap Labs has teamed up with Across to propose a new standard for cross-chain transactions. This standard aims to make it easier for users to transfer assets and interact with protocols across different blockchains. Intent-Based Systems Uniswap Labs believes that intent-based systems are a more efficient…
Hashrate Nears All-Time High The total computing power used by Bitcoin miners has climbed to near-record levels, a sign of increased network security. This “hashrate” is crucial for preventing malicious attacks on the blockchain. Difficulty Adjustment As the hashrate rises, the Bitcoin network automatically adjusts its difficulty to maintain a steady block production rate. This…
