Growing Popularity of Bitcoin ETFs Bitcoin (BTC) is gaining traction among asset managers and traditional financial institutions, leading to the success of Bitcoin ETF products. BlackRock, Grayscale, and Fidelity have all launched successful ETFs, attracting significant investment. BlackRock’s ETF Expands Authorized Participants BlackRock’s iShares Bitcoin Trust (IBIT) ETF has added five new authorized participants (APs):…
PayPal has launched a new service that allows US users to fund international money transfers using its stablecoin, PayPalUSD (PYUSD). How it Works Xoom, PayPal’s remittance provider, now allows users to convert PYUSD in their PayPal account to US dollars and use it to send money to over 160 countries. When using this option, Xoom…
Ethereum’s Weaknesses Renowned trader Peter Brandt has criticized Ethereum (ETH), calling it a “junk coin.” He argues that ETH lacks the qualities needed for long-term success, such as: Store of value: ETH is not a reliable store of value like Bitcoin. Functionality: ETH struggles with high gas fees and limited layer-2 solutions. Brandt supports his…
Cardano Treasury on the Rise Cardano’s Treasury is growing rapidly, holding over 1.48 billion ADA, worth around $843 million. This war chest is designed to fund ongoing development. Development Boost The Treasury receives a fixed amount of ADA from each block of transactions confirmed (epoch). It also reserves a portion of transaction fees. As Cardano…
What is the MVRV Ratio? The MVRV ratio compares an asset’s market value to its historical investment costs. A negative ratio indicates that many holders are currently losing money. Dogecoin’s MVRV Ratio Turns Negative Dogecoin’s MVRV ratio recently fell below zero, suggesting that many holders are at a loss. This could be a sign of…
A new pilot program in Evanston, Illinois, will provide $500 monthly checks to 140 families living below the poverty line for a year. Eligibility Criteria To qualify, families must: Have children 5 years old or younger Have incomes at or below 1.84 times the federal poverty line ($31,200) Program Focus The program targets families in…
Analyst’s Prediction DonAlt, a popular analyst who accurately predicted Bitcoin’s 2022 low, believes the current bull cycle could reach a peak of $100,000. He predicts a potential surge of over 45% from current levels. Scenario 1: Correction to $50,000 DonAlt suggests that Bitcoin may experience a correction to $50,000 before reaching new highs. If this…
A crypto analyst believes Bitcoin (BTC) could reach new highs if it surpasses a critical range. Key Resistance Zone Credible Crypto, a popular crypto strategist, suggests that Bitcoin could soar after clearing the $68,000-$70,000 resistance. However, if BTC fails to break through this range, it could face a significant dip. Breakout or Breakdown? The analyst…
A popular crypto analyst has shared his bullish views on Solana (SOL), an Ethereum competitor, and provided an update on the gaming altcoin Beam (BEAM). Solana (SOL) Altcoin Sherpa believes Solana has potential for significant gains. He advises buying within the range of $168-$208 and holding for the next few months. Solana is currently trading…
Buying Spree by Short-Term Holders Since December 2023, short-term Bitcoin holders have been on a buying spree, accumulating over 1.2 million BTC. This surge in interest follows the launch of Spot Bitcoin ETFs in the US. Accumulation by Whales and Retail Investors Previously, accumulation was primarily driven by whales and long-term holders. However, recent data…
