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Crypto News

Swift Joins Forces with Chainlink and Top Financial Institutions for Revolutionary Blockchain Experiment

Payments giant Swift has partnered with Chainlink and major financial institutions including ANZ, BNP Paribas, Citi, and Lloyds Banking Group for a blockchain interoperability experiment. Swift aims to address the challenge of non-interoperable blockchains that hinder institutional adoption of tokenized assets. The collaboration will test how firms can leverage Swift's infrastructure to efficiently transfer tokenized value across various public and private blockchain networks. Chainlink will provide connectivity for the experiments. Swift recognizes the need for an interoperability model to enable global access to different blockchain platforms in the highly fragmented ecosystem.

The Daily Hodl - 1176 ngày trước

Goldman Sachs Reports Reveals Bitcoin Experiences Intense Profit-Taking Activity in May

Goldman Sachs released a report highlighting the positive trends in the adoption of bitcoin and Ethereum. Although the number of large Bitcoin addresses decreased, the spent output profit ratio spiked, indicating significant profit-taking. Furthermore, Bitcoin held on exchanges dropped by 12%, while Ether supply increased slightly. Network congestion affected both blockchains, leading to decreased address activity. However, Bitcoin's average mean hash rate reached a new high, resulting in a 5.4% gain and a remarkable 16.4% increase in miner revenues. These advancements demonstrate the continued growth and resilience of both cryptocurrencies.

coindesk - 1176 ngày trước

$1.5 Trillion Asset Manager Franklin Templeton Takes Bold Bet, Invests Heavily in Bitcoin

Global asset manager Franklin Templeton plans to heavily invest in Bitcoin and its underlying technology, aiming to leverage blockchain for operational efficiency and cost savings. The company also expresses interest in the wider cryptocurrency ecosystem and its future potential. Sandy Kaul, Senior Vice President of Franklin Templeton's crypto business, predicts a rise in institutional investors joining the market, emphasizing their role in establishing a strong foundation. Franklin Templeton's focus on education and promotion is expected to drive mainstream acceptance of digital assets in investment portfolios.

ZyCrypto - 1176 ngày trước

JPMorgan Takes the Lead in Launching Blockchain Settlement System Pilot Program with Six Indian Banks

JPMorgan Chase partners with six Indian banks to introduce a blockchain-powered platform for interbank dollar transactions in New Delhi. The aim is to eliminate manual intervention, reducing settlement times and costs. The Reserve Bank of India launches a domestic non-deliverable forward market settled in dollars at GIFT City, hoping to establish it as a competitive trading center. JPMorgan's blockchain platform Onyx facilitates 24-7 transactions, supporting GIFT City banks' operating hours. The pilot project, approved by the International Financial Services Center Authority, launches on June 5th, 2023.

The Daily Hodl - 1176 ngày trước

CFTC Greenlights Cboe to Offer Margin Trading on Crypto Futures Amidst Market Uncertainty

The Commodity Futures Trading Commission (CFTC) has approved Cboe Global Markets to offer more cryptocurrency products as a derivatives clearing organization. Cboe Digital will soon provide leveraged derivatives for cryptocurrencies like Bitcoin, Bitcoin Cash, Ether, Litecoin, and USDC. The updated order also permits Cboe Clear to offer clearing services for digital asset futures on a margin basis. CFTC Commissioner Christy Goldsmith Romero praised the decision, stating that it allows Cboe to clear more crypto futures contracts while implementing risk-reducing measures. Cboe's experience and partnerships in the digital asset space position them well for growth.

Blockworks - 1177 ngày trước

JPMorgan Forecasts Surging Bitcoin Demand in Anticipation of Halving Event

The upcoming halving of Bitcoin in April 2024 is highly anticipated in the crypto industry. Halving reduces the mining reward for Bitcoin and affects the number of newly generated BTC. JPMorgan predicts strong retail demand for Bitcoin leading up to the halving event, indicating positive prospects for its performance. The rise in retail interest is attributed to Bitcoin Ordinals and BRC-20 tokens. Analysts, including JPMorgan, believe Bitcoin could potentially reach new highs, with predictions ranging from $40,000 to $160,000 post-halving.

Watcher Guru - 1177 ngày trước

El Salvador's Volcano Energy Triumphs With $1B Commitments To Establish 241 MW Bitcoin Mining Facility

Volcano Energy has secured $1 billion in commitments to build a 241 MW bitcoin mining facility in El Salvador. Tether, the issuer of stablecoin USDT, is one of the investors. The mining site will be powered by 169 MW of solar energy and 72 MW of wind energy, providing a computing power of over 1.3 exahash-second. The government will have a significant role in planning and execution, and will receive a preferred participation of 23% of revenues. The remaining 27% will be owned by outside investors, while 50% will be reinvested for expanding energy production and mining capacities.

coindesk - 1177 ngày trước

Bitcoin Hash Rate Skyrockets to New Heights in May

Despite a drop in Bitcoin's value, the network's activity remains strong. The daily network hash rate reached a record high in May, indicating a secure network. However, JPMorgan analyst Reginald Smith suggests that hash rate growth may slow due to limited available rack space. The market capitalization of 13 US-listed miners tracked by JPMorgan increased by 5.0% to $6.7 billion. Mining difficulty also reached a record high. Transaction fees saw a spike in May but have since returned to the historic average. JPMorgan predicts Bitcoin's trading value at $45,000.

CoinJournal - 1177 ngày trước

Jack Dorsey Endorses Robert Kennedy Jr. as Pro-Bitcoin Choice for President

Twitter co-founder Jack Dorsey publicly endorsed presidential candidate Robert F. Kennedy, Jr., known for his pro-crypto stance. Dorsey tweeted his support after Kennedy's interview, where he discussed his potential to defeat Trump and DeSantis in the 2024 election. Kennedy gained momentum in the Democratic primaries following his keynote address at a Bitcoin conference in Miami, emphasizing the significance of digital asset self-custody and pledging to protect individuals' rights to own and use Bitcoin. Notably, Kennedy intends to accept campaign donations in BTC, showcasing his commitment to the cryptocurrency community.

BeInCrypto - 1178 ngày trước

Cardano Dominates DeFi Sector, Surpassing Bitcoin in Value Locked

Cardano's DeFi landscape expands as VyFinance DEX protocol integrates into MuesliSwap DEX Aggregator, solidifying Cardano's presence in the DeFi sector. In another noteworthy development, Cardano has surpassed Bitcoin in total value locked (TVL), with $183.19 million compared to Bitcoin's $178.99 million, according to DeFiLlama. This growth reflects an increase in active users and protocols on the Cardano network, with a 20% rise in active users over the past month. These statistics highlight the rising interest and confidence in Cardano's DeFi ecosystem.

U.Today - 1178 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