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Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 665 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 665 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 665 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 665 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 666 ngày trước

Bitcoin's New Address Surge Signals Bullish Divergence Amidst Market Uncertainty

Bitcoin has exhibited resilience with its price hovering around $26,000, but a notable bullish trend emerges as new BTC addresses surge. The number of addresses holding 0.1 or more Bitcoin has reached an all-time high at 4,487,486, while non-zero Bitcoin addresses hit a historic peak of 49,138,848. These statistics indicate growing investor interest in Bitcoin despite price fluctuations. Market analysts are cautious about a potential "death cross" but emphasize the complex nature of cryptocurrency markets. Meanwhile, anticipation surrounds the Federal Reserve's upcoming meeting, with a 97% expectation of a "pause" in their decision.

U.Today - 666 ngày trước

Dr. Jordan Peterson Proposes Bitcoin as an Alternative to Traditional Banking

Best-selling author and renowned psychologist Dr. Jordan Peterson ignited a debate by suggesting that Bitcoin could replace traditional banks, following news of Australian banks phasing out cash and cheque services. Peterson's call resonated with many Bitcoin proponents who argue that cryptocurrency eliminates counterparty risk associated with banks. Notably, crypto enthusiasts from various networks, including Bitcoin Cash, Nano, Monero, and Dash, joined the discussion, promoting decentralized cash-like experiences. However, critics, like Aaron Day, highlighted Bitcoin's scalability challenges compared to traditional banking systems and CBDCs.

Finbold - 666 ngày trước

Dr. Jordan Peterson Proposes Bitcoin as an Alternative to Traditional Banking

Finbold - 666 ngày trước

Bitcoin's Transaction Volume Surges Past Visa, Signaling a New Era

In a remarkable milestone, Bitcoin's annual transaction volume has overtaken Visa, underlining the increasing prominence of decentralized networks. While this achievement is noteworthy, it's essential to consider nuances. Bitcoin's transaction volume includes high-frequency transactions from protocols like Ordinals, potentially skewing the perception of retail adoption. Furthermore, comparing Bitcoin to Visa is complex due to their inherent differences. Nevertheless, this development prompts questions about the future of financial landscapes, hinting at the potential for decentralized networks to challenge centralized systems, despite challenges seen in real-world experiments like El Salvador's.

U.Today - 666 ngày trước

Financial Guru Robert Kiyosaki Boldly Declares Crypto as the Future

Renowned financial expert and author, Robert Kiyosaki, has made a confident proclamation that fiat currency is on the decline while cryptocurrency represents the future. Kiyosaki voiced his prediction during the TOKEN2049 cryptocurrency conference in Singapore, an event aiming to unite prominent figures and companies in the crypto space. However, Kiyosaki's history of controversial financial advice and legal issues has raised skepticism about his statements. Critics point to his involvement in multi-level marketing and past fraud claims, but he maintains a substantial following in the crypto community.

U.Today - 667 ngày trước

Crypto News

Nearly One Million ETH Burned in Ethereum's Merge Milestone Celebration

In a celebration of Ethereum's one-year anniversary since implementing the Merge upgrade, Binance highlights significant milestones. The transition to proof-of-stake (PoS) from proof-of-work (PoW) has resulted in the burning of nearly one million ETH, reducing the supply and making Ethereum deflationary. Over 22% of ETH is now staked, and gas fees remain stable. The PoS mechanism has reduced Ethereum's energy consumption by 99.99%. With 362,000 new validators added, Ethereum continues to evolve as the largest smart contract network, marking a greener and more sustainable future.

U.Today - 668 ngày trước

Japan Facilitates Crypto-Based Startup Funding through Regulatory Reforms

Japan is taking steps to rejuvenate its startup ecosystem by allowing ventures to raise funds through cryptocurrencies. The government's plan to relax restrictions on fundraising methods aims to promote growth in venture capital funding. Under the new regulation, investors can provide startups with both traditional stocks and cryptocurrencies. This move aligns with Japan's increasing support for the crypto industry, even as regulators focus on compliance and anti-money laundering measures. Japan's progressive approach mirrors global efforts to embrace the expanding crypto sector, despite stricter regulations like the Travel Rule being enforced.

CoinJournal - 668 ngày trước

Latin America Takes Center Stage in Crypto Adoption Surge

Latin America is making significant strides in cryptocurrency adoption, with the region accounting for 9.1% of global crypto value in 2022, totaling $562 billion in transactions from July 2021 to June 2022. Factors driving this surge include rising inflation, progressive regulatory developments, and innovative uses of blockchain technology. In countries like Argentina and Venezuela, crypto is being embraced as a hedge against hyperinflation, while asset tokenization and crypto gaming are democratizing investment opportunities and providing new avenues for artists and gamers. Despite challenges, Latin America's crypto landscape is evolving rapidly.

CoinJournal - 669 ngày trước

Sony Ventures into Blockchain Space, Announces Joint Venture for Web3 Development

Japanese tech giant Sony is set to enter the Web3 space by developing its own blockchain network. The company's IT subsidiary, Sony Network Communications, will collaborate with Singapore-based Startale Labs to create a joint venture ca