Tether’s Dominance Tether (USDT), the leading stablecoin, is approaching a major milestone: a $100 billion market cap. This reflects its stability, which has made it a popular choice for investors seeking a safe haven in the volatile crypto market. Financial Performance Tether’s financial health is strong, with recent reports showing $3 billion in profits. This…
Mark Marko, CEO of Morgan Creek Capital, believes the Bitcoin bull market is still in its early stages. Six-Figure Bitcoin By Mid-2023 In an interview, Marko predicted that Bitcoin could reach $150,000 by mid-2023. He based this on the cryptocurrency’s network effects and the number of users and miners. Fair Value and Speculation According to…
Coinbase, the biggest crypto exchange in the US, has donated $3.6 million to Brink, a non-profit that supports Bitcoin developers. Funds for Bitcoin Core Developers Brink announced the donation on Friday, February 16th. The money will go directly to engineers working on the Bitcoin network. The donation came from GiveCrypto, a Coinbase initiative that gave…
Charges The SEC has fined VanEck Associates $1.7 million for failing to disclose an influencer’s involvement in the launch of its Spot Bitcoin ETF. The SEC alleges that VanEck knew about the influencer’s role and offered a licensing fee structure that incentivized the influencer’s promotion. Omission VanEck failed to inform the ETF board about the…
Yuga Labs, the company behind the popular Bored Ape Yacht Club (BAYC) NFT collection, has acquired PROOF, an NFT development firm. This deal gives Yuga Labs control of all PROOF’s assets, including the Moonbirds NFT collection. Yuga Labs to Integrate Moonbirds into Metaverse Project In a blog post, Yuga Labs announced that it plans to…
Background: The US Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin (BTC) exchange-traded fund (ETF). Industry Letter: On Valentine’s Day, four major banking industry groups sent a joint letter to SEC Chairman Gary Gensler, advocating for the approval of spot BTC ETFs and requesting a modification to a 2022 law (SAB…
Internet Computer (ICP), a cloud-focused Web3 altcoin, has emerged as the most actively developed crypto project in recent weeks. According to analytics firm Santiment, ICP recorded an impressive 466.9 GitHub commits in the past 30 days, surpassing all other projects. Santiment’s methodology excludes routine updates, ensuring that only “true” development activity is counted. Key Players…
Market Sentiment: A Flawed Indicator Crypto trader Michaël van de Poppe believes that sentiment is not a reliable indicator in market analysis. He cites recent examples where extreme optimism led to corrections, such as the one that followed Bitcoin’s ETF approval. Van de Poppe warns that emotions can cloud judgment and lead to poor trading…
Cardano (ADA), a rival to Ethereum, has seen a dramatic increase in its total value locked (TVL) in the final quarter of 2023. TVL Growth According to crypto analytics firm Messari, Cardano’s TVL reached an all-time high of $449 million on December 14. This represents a 166% increase from the previous quarter and a staggering…
