Last week was tough for Bitcoin ETFs, with daily outflows signaling a possible shift in sentiment among institutional investors. This has impacted Bitcoin’s price, which fell to $61,370 during the week. Sustained Outflows Earlier this year, investor interest in Bitcoin ETFs soared, pushing Bitcoin’s price to an all-time high. However, these ETFs have now set…
Despite recent market dips, some investors are seeing this as a buying opportunity. Accumulation Addresses Overflowing On March 22, over 25,000 BTC ($1.6 billion) was transferred to accumulation addresses, the highest daily amount this year. These addresses are typically held by long-term investors who believe in Bitcoin’s future value. What Accumulation Addresses Tell Us Accumulation…
Bullish Predictions Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin’s future. She recently predicted that the cryptocurrency could reach $1.5 million by 2030, surpassing her previous estimate of $3.8 million. Emerging Market Adoption Wood believes that Bitcoin’s adoption in emerging markets, such as Nigeria, is a major driver of its growth. She cites…
Iceland, known for its breathtaking landscapes and renewable energy, is making a shift. The country is now focusing on food production instead of cryptocurrency mining. Why the Change? Iceland wants to become more self-sufficient and secure its food supply. Crypto mining, while using renewable energy, isn’t as important as sectors that directly benefit Icelanders. Benefits…
Advocacy for Bitcoin ETFs Bivu Das, Managing Director of Kraken UK, believes Bitcoin ETFs are essential for establishing the UK as a crypto hub. They offer a regulated and accessible way for investors to gain exposure to Bitcoin’s price movements. FCA’s Cautious Approach However, the Financial Conduct Authority (FCA) remains cautious. In 2021, they banned…
Preparing for the Bitcoin Halving The Bitcoin halving, where mining rewards are cut in half, is approaching. To stay profitable, US miners are upgrading their equipment. Why Machines Are Leaving the US Luxor Technology reports that 600,000 S19 series mining rigs are being moved out of the US, primarily to Africa and South America. These…
Chainlink (LINK), a decentralized oracle network, has emerged as the leader in recent crypto development activity, according to data from analytics firm Santiment. Key Findings Chainlink leads with an average of 451.23 GitHub events over the past 30 days. Cardano (ADA) follows closely with 444.7 events. Status (SNT) ranks third with 434.5 events. Optimism (OP)…
Growth Signals Despite its price underperformance and regulatory uncertainty, Ethereum (ETH) is showing signs of growth, according to market intelligence firm IntoTheBlock. Increased Volume: The amount of ETH transferred on its mainnet has reached its highest point since May 2022. Layer-2 Adoption: The amount of ETH on layer-2 scaling solutions recently surpassed 10 million for…
Allegations of Interest Rate Rigging Eight major financial institutions, including JPMorgan Chase and Bank of America, have agreed to pay $70 million to settle a decade-long lawsuit alleging widespread fraud and collusion. The whistleblower, Edelweiss Fund LLC, accused the banks of inflating interest rates on municipal bonds to generate millions in illicit profits. The bonds,…
Hackers who stole millions of dollars from the Heco Bridge have been laundering their ill-gotten gains through Tornado Cash, a crypto mixer. Laundering Millions Blockchain security firm PeckShield reports that the hackers have transferred over $145 million worth of Ethereum (ETH) to Tornado Cash in the past eight days. Heco Bridge Heist In November, hackers…
