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Crypto News

Riot Platforms and MicroBT Join Forces to Drive Bitcoin Mining Innovation in the US

Riot Platforms, the largest US Bitcoin mining company, has announced a partnership with MicroBT, a Bitcoin ASIC manufacturer. The collaboration will bring MicroBT's ASIC production to America, aiming to secure miners for Riot's Corsicana facility and significantly boost its mining capabilities. The partnership will increase Riot's self-mining hash rate capacity by approximately 61% to over 20 EH-s by mid-2024. This move also strengthens the US supply chain and creates job opportunities. The collaboration is a significant milestone for the Bitcoin mining industry and sets the stage for future growth in the U.S.

bitcoinmagazine - 1156 ngày trước

Crypto Investment Products Experience Robust $199 Million Inflows, Bitcoin Dominates with 94%

The crypto market has experienced a surge in activity, driven by the excitement surrounding ETFs. New participants have entered the market, while existing ones continue to invest. CoinShares' weekly report reveals the largest single-week inflows since July 2022, totaling $199 million. Bitcoin emerged as the biggest beneficiary, with 94% of the inflows. Ethereum and a multi-asset basket also recorded positive inflows. Although altcoins saw minor inflows, overall market sentiment remains positive. BlackRock is leading the race for ETF approval, but ARK Investment is ahead with its Bitcoin ETF application.

coinshares - 1156 ngày trước

Glassnode Report Reveals 96.9% of Bitcoin Short-Term Holders Enjoy Profitability

Bitcoin short-term holders are reaping the benefits of the recent rally, with 96.9% of them now in profit, according to on-chain data from Glassnode. These short-term holders, who have held their coins for less than 155 days, are seeing unrealized gains as the price surpasses $30,000. While there is a risk of profit-taking leading to mass selling, historical data shows that previous instances of high profits have not necessarily resulted in a slowdown of the price rise. The market's ability to absorb profit-taking remains to be seen.

Bitcoinist.com - 1156 ngày trước

Ark Invest Anticipates BlackRock's Bitcoin ETF Filing as a Game-Changer for Institutional Investors

BlackRock's recent filing for a bitcoin ETF is seen as a significant milestone towards institutional acceptance, according to Ark Invest. The move indicates that major institutional players have a positive long-term outlook for the digital asset. Following BlackRock's filing, other asset managers like Invesco, WisdomTree, and Valkyrie have also expressed interest in launching their own spot bitcoin funds. BlackRock's collaboration with Nasdaq to establish a unique surveillance-sharing agreement to prevent market manipulation sets a precedent for other applicants to follow suit.

theblock - 1156 ngày trước

Alibaba Cloud and NEAR Foundation Empower Web3 Growth in Asia through Strategic Alliance

NEAR Foundation, the non-profit organization responsible for developing the NEAR protocol ecosystem, has partnered with Alibaba Cloud to accelerate Web3 growth in Asia and the Middle East. This collaboration allows NEAR Foundation to access Alibaba Cloud's developer ecosystem, attracting more developers to build on the NEAR protocol. The partnership offers developers the opportunity to launch new NEAR validators using Alibaba Cloud's infrastructure and provides services like remote procedure calls and multi-chain indexing. NEAR's price surged 8% to $1.57 following the announcement, reflecting positive market sentiment.

coindesk - 1156 ngày trước

ProShares' Bitcoin Strategy ETF (BITO) Witnesses Significant Inflows, Reflecting Institutional Investors' Enthusiasm

Institutional investors are showing increased interest in Bitcoin as a result of multiple Bitcoin exchange-traded fund (ETF) filings in the United States. ProShares' Bitcoin Strategy ETF (BITO) experienced a surge in inflows, attracting over $65 million in the past week. The regulated fund allows investors to gain exposure to bitcoin-linked returns and currently holds more than $1 billion worth of CME Bitcoin Futures. The strong performance of BITO, which closely tracks spot bitcoin prices, suggests growing demand for bitcoin exposure among institutional investors amidst the Bitcoin ETF excitement in the U.S.

coindesk - 1157 ngày trước

Japan Adopts Crypto-Friendly Tax Approach, Bolstering Digital Economy

Japanese tax authorities have announced a more lenient approach to taxing crypto assets, specifically regarding unrealized gains from cryptocurrencies issued by companies themselves. The change aims to facilitate the growth of cryptocurrency-related businesses in Japan. Previously, companies holding cryptocurrencies were taxed on unrealized gains at the end of the tax year, causing financial burdens. By excluding the valuation of self-issued digital currency from market valuation calculations, companies can now operate without this added pressure. This move reinforces Japan's commitment to becoming a prominent hub for digital assets.

CoinGape - 1157 ngày trước

Crypto Exchange Mercado Bitcoin Joins Brazilian Central Bank's CBDC Pilot Alongside Mastercard

Brazil's central bank has authorized Mercado Bitcoin, the country's largest crypto exchange, to participate in the pilot of the digital real, Brazil's central bank digital currency (CBDC). The consortium led by Mercado Bitcoin includes Mastercard, Genial, Cerc, and Sinqia as partners. Additionally, state-owned Brazilian bank Caixa, card provider Elo, and Microsoft have been given the green light to participate in the CBDC pilot. The central bank aims to incorporate participants into the Real Digital Pilot platform in mid-June 2023, with plans to roll out the CBDC by 2024 to increase financial system participation.

coindesk - 1158 ngày trước

Bitcoin Could Surge Over 30% To Hit $40,000 Predicts On-Chain Analyst Willy Woo

Bitcoin (BTC) may have more room to grow as it crosses the $30,000 mark, according to popular on-chain analyst Willy Woo. He suggests that Bitcoin could increase by over 30% before becoming overbought, potentially reaching $40,000. Woo believes that veteran traders are accumulating Bitcoin during price dips and betting on a downtrend in the US dollar index. Woo also points out that the recent rally in Bitcoin is attributed to professionals accumulating during a price decline, leading to a short squeeze in the market.

The Daily Hodl - 1158 ngày trước

Hong Kong's SFC Chief Emphasizes Significance of Crypto Trading in Virtual Asset Landscape

Hong Kong's embrace of Web3 regulation has paved the way for a positive future in the virtual asset ecosystem. CEO Julia Leung Fung-yee of the Securities and Futures Commission highlighted the importance of crypto trading and its integration into the regulatory system. The new licensing scheme ensures investor protection and market trust, while also promoting innovation. Hong Kong's approach stands in contrast to China's crypto ban, making it an attractive destination for Web3 firms. The government's investment in Web3 development has already attracted over 150 firms to establish operations in Hong Kong's Cyberport.

cointelegraph - 1158 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