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France's Crypto Market Witnesses Surge as Young Investors Embrace Digital Assets: KuCoin Survey

Young investors are flocking to France's crypto market, with 8% of internet users aged 18 to 60 now involved in cryptocurrencies. KuCoin's survey revealed that 31% joined within six months, and 23% have invested for over three years. Notably, 40% of Gen Z crypto investors in France entered the market in the last six months, despite 60% earning less than 35,000 euros annually. KuCoin's CEO praised Gen Z's fearlessness in shaping the crypto ecosystem, particularly their preference for Ethereum and pursuit of quick returns through NFTs and payments.

Blockworks - 1131 ngày trước

Indonesian Crypto Ecosystem Boosted with New Exchange and Clearing House

The Indonesian government has launched its national cryptocurrency exchange, the only legal platform for trading digital assets in the country. Bappebti, the Commodity Futures Trading Supervisory Agency, confirmed the exchange's opening on July 20, along with a futures clearing house to ensure smooth transactions. Licensed traders have a month to join. Originally planned for 2022, the launch was delayed to June 2023. The exchange aims to foster the Indonesian crypto ecosystem and attract investors, with approximately 4% of the population, nearly 11 million people, having invested in cryptocurrencies in 2021.

cointelegraph - 1131 ngày trước

Japanese Investors Flock to Bitcoin Trading amidst Turbulent Yen Trends

Since the Federal Reserve began raising interest rates in 2022, the Japanese yen has experienced significant depreciation, leading to increased exchange rate turbulence. Traders on Japanese digital asset exchanges are seeking refuge in bitcoin, considered a hedge against traditional finance. Data from Paris-based Kaiko reveals that the share of bitcoin trade volume on Japanese exchanges has risen from 69% to 80% in the first half of this year, reaching $4 billion in June, a 60% YTD increase. This trend is fueled by the yen's decline against the U.S. dollar and Japan's regulatory framework for cryptos.

coindesk - 1131 ngày trước

Morgan Creek CEO Mark Yusko Anticipates 887% Surge in Bitcoin Price

Mark Yusko, CEO of Morgan Creek Digital, predicts Bitcoin's price could surge to $300,000, representing an 887% increase from current levels. He compares Bitcoin to gold, suggesting it could reach the same market cap, around $12 trillion. As half of gold's value is not used as money, Yusko believes Bitcoin can replace that portion, making its market cap $6 trillion. He believes Bitcoin's superiority as a store of value and ease of transfer make the $300,000 target inevitable, though the exact timeframe is uncertain.

The Daily Hodl - 1132 ngày trước

Bitcoin's Hash Rate Skyrockets by 661% in Just 2 Years: Data Reveals

Bitcoin miners are facing challenges due to the volatile market, but the hash rate, which measures the cryptocurrency's computational power, has surged by 661% in the last two years. This increase signals the network's robustness, according to CryptoQuant CEO Ki Young Ju. The upcoming halving event will cut miners' rewards in half. Despite the high hash rate and mining difficulty, miners are still selling significant amounts of BTC for profit, possibly indicating new miner behavior. The Ordinals' craze also contributes to the network's strength as miners deploy more mining machines.

CryptoPotato - 1132 ngày trước

XRP Searches on Google Reach 1-Year High, Reflecting Surging Demand

XRP, a digital currency connected to Ripple, saw a significant increase in price recently due to a legal victory against the SEC. As a result, searches for "how to buy XRP" and "how to buy Ripple" surged to their highest levels in a year. Singapore, Hong Kong, Slovakia, Finland, and Denmark showed the most interest in purchasing XRP, while Lebanon, North Macedonia, Trinidad & Tobago, Croatia, and Lithuania searched for buying Ripple. The court ruling and renewed investor optimism led to a 71% price increase in XRP over the past week.

Finbold - 1132 ngày trước

UK Takes Strong Stance Against Treating Crypto as a Form of Gambling

The UK Treasury has rejected the idea of regulating cryptocurrencies as gambling. The Financial Services Minister stated that treating crypto as gambling goes against global recommendations. Instead, the UK government believes that a financial services regulatory framework is more suitable to address the risks associated with crypto. They are already working on regulating the crypto market, aiming to create safe conditions for innovation. The government supports the potential efficiencies of crypto in financial markets and payments, aligning with their ambition to become a crypto hub. They also plan to establish sandboxes for blockchain experimentation.

cryptonews - 1132 ngày trước

Binance Report Reveals Crypto Industry's Strong Performance in First Half of 2023

The global crypto industry has shown resilience and growth in the first half of 2023, according to a report by Binance. Key highlights include a 43% increase in DeFi and rising NFT volumes. Bitcoin's network has experienced significant growth, with a 185% increase in trading volume and a 58% spike in transactions. The report also mentions Bitcoin's dominance and correlation with traditional finance. Solana and BNB Chain performed well among layer-1 chains. Positive market sentiment is driven by factors like the filing of a Bitcoin ETF and Ripple's win against the SEC.

CoinJournal - 1132 ngày trước

Growing Interest in Bitcoin Spot ETFs Could Bring $30 Billion in Demand, NYDIG Report Reveals

A recent report by NYDIG suggests that the introduction of Bitcoin spot-based exchange-traded funds (ETFs) could generate $30 billion in new demand for the cryptocurrency. The growing interest in spot ETFs, exemplified by filings from BlackRock and Fidelity, has contributed to this optimism. NYDIG highlights the benefits of a Bitcoin ETF, including brand recognition, ease of purchase and sale, simplified reporting and risk measurement, and tax reporting. While gold ETFs hold only 1.6% of global gold supply, Bitcoin funds hold 4.9% of the total Bitcoin supply, indicating significant potential for increased demand.

coindesk - 1133 ngày trước

Cryptocurrency Bank Launched with Backing from Myanmar's Shadow Government

Myanmar's first crypto-based bank, the Spring Development Bank, is scheduled to launch on July 22. It aims to provide financial services and support to the country's shadow government and citizens. Operating on the Polygon blockchain, the bank offers faster and more efficient domestic and international payments, along with a range of financial products. Backed by Myanmar's exiled National Unity Government (NUG), it issues fiat-pegged stablecoins. The bank is licensed and regulated by the NUG-controlled interim central bank, marking a significant move towards restoring financial freedom in Myanmar.

cointelegraph - 1133 ngày trước

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 - 1072 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 - 1072 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 - 1072 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 - 1072 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 - 1073 ngày trước