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Crypto News

Bitcoin Whales Seize Opportunity, Increase Holdings Despite Market Fluctuations

Blockchain analytics firm Glassnode reports that Bitcoin whales, individuals or entities with more than 10,000 BTC, are accumulating more Bitcoin while others sell. Despite the market's distribution trend, these whales exhibit a bullish sentiment by increasing their holdings. Glassnode's Bitcoin Accumulation Trend Score reveals a clear contrast between accumulating whales and other major groups experiencing heavy distribution. This suggests that large investors may perceive the current Bitcoin price as an appealing entry point, while others aim to lock in profits.

U.Today - 1178 ngày trước

Bitcoin ATMs Make a Strong Comeback after 4-Month Downturn, Global Net Numbers on the Rise

The global adoption of Bitcoin continues to bitcoin ATMs Make a Strong Comeback after 4-Month Downturn, Global Net Numbers on the Risehrive as May witnessed a significant increase in crypto ATMs, with nearly 1,400 installations. Despite a decline in the first four months of 2023, countries like Australia, Poland, and Spain contributed to the positive momentum. With a total of 35,028 operational ATMs worldwide, these physical gateways facilitate the exchange of fiat currencies for crypto, promoting accessibility and convenience. Efforts to enhance security measures are underway following recent incidents, ensuring the safety of customers and their funds.

cointelegraph - 1179 ngày trước

Bitcoin Bull Market Predicted by BitMEX Founder Arthur Hayes, Anticipate Explosive Surge

In a bold essay, BitMEX founder Arthur Hayes lays out his bullish vision for Bitcoin amidst the current lull in the crypto market. He believes the Federal Reserve's rate hike will ignite a Bitcoin bull run. As the Fed prints money to pay interest on reserve balances, wealthy asset holders will likely invest in risk assets like Bitcoin, gold, and AI tech stocks. Hayes predicts that the real Bitcoin bull market will begin in the late third or early fourth quarter of the year, despite the slow summer months for crypto trading.

The Daily Hodl - 1179 ngày trước

Mercado Bitcoin Granted License to Operate as Payment Institution in Brazil

In a significant development, Mercado Bitcoin, Brazil's leading cryptocurrency exchange, received a license as a payment institution from the country's central bank. With this approval, the company can now operate as an electronic money issuer and expand its services. CEO Roberto Dagnoni expressed enthusiasm, stating that the license enables them to offer a more comprehensive experience to customers. The exchange aims to introduce financial services that blend the power of cryptocurrencies with traditional financial offerings, such as a crypto payments card in the near future.

coindesk - 1179 ngày trước

Russia's Sanctioned Rosbank Eyes Up Crypto to Move Money Overseas - Decrypt

Rosbank, one of Russia's largest banks, plans to use cryptocurrency for cross-border payments, despite being sanctioned by the US Treasury Department. The bank has conducted pilot transactions with corporate and private clients. While the specific cryptocurrency has not been mentioned, Rosbank is collaborating with fintech company B-Crypto for the project. Russia has been exploring the use of stablecoins for payments with friendly nations, aiming to reduce reliance on the US dollar and euro. The country has complicated regulations surrounding cryptocurrency, with conflicting views from different government entities.

Decrypt - 1180 ngày trước

Coinbase Empowers Institutional Investors with Bitcoin and Ether Futures Contracts Debuting on June 5

Coinbase, the popular cryptocurrency exchange, will introduce Bitcoin (BTI) and Ethereum (ETI) futures contracts specifically designed for institutional investors on June 5. The launch of these contracts via the regulated Coinbase Derivative Exchange aims to address regulatory concerns and shift the focus away from retail trading. The contracts will be offered in denominations of 1 Bitcoin and 10 Ether, and institutional participants will be able to access them through leading Futures Commission Merchants (FCMs) and brokers. Coinbase's objective is to offer improved crypto exposure management and capital efficiency for institutional clients.

CryptoPotato - 1180 ngày trước

Marathon Digital's Software Drives 77% Boost in Bitcoin Mining Output

Bitcoin miner Marathon Digital Holdings experienced a significant increase in bitcoin production in May, mining 1,245 bitcoins, a 77% rise compared to the previous month. The boost was attributed to a higher hash rate and increased transaction fees, accounting for 11.8% of the total bitcoin earned. Marathon's proprietary software played a crucial role in controlling machine output and scaling the hash rate. The uptick in revenues for miners was due to the popularity of Ordinals, which drove up demand for block space with the introduction of non-fungible tokens and memecoins.

coindesk - 1180 ngày trước

Billionaire Mike Novogratz Anticipates an Exciting Crypto Boom with a Major Trigger

Galaxy Digital CEO, Mike Novogratz, predicts that the Federal Reserve will begin cutting interest rates in October, causing a surge in digital assets such as Bitcoin and Ethereum. Novogratz believes that the rate cuts will inject liquidity into the financial markets, historically leading to crypto rallies. He also anticipates an increase in the value of precious metals, including gold and silver, alongside digital assets. Novogratz suggests that a slowdown in the US economy and the impact of high-interest rates will prompt the Fed to change its approach.

The Daily Hodl - 1180 ngày trước

Dogecoin's Daily Transaction Volume Soars by 8,220% in May, Indicating Massive Growth

New data from IntoTheBlock reveals a massive surge in daily transactions of Dogecoin (DOGE) in May. The number of transactions spiked by a staggering 8,220%, reaching a peak of over two million, an all-time high. This surge occurred after the introduction of the DRC-20 standard on the DOGE blockchain, which allows developers to create tokens representing ownership of assets. DOGE transactions even surpassed Bitcoin's in terms of volume during this period. The increased activity indicates growing interest and adoption of the meme-inspired cryptocurrency.

The Daily Hodl - 1180 ngày trước

Russian Companies Urge President Putin to Support Crypto Legalization Efforts

Russian businesses have appealed to President Putin for assistance in legalizing decentralized cryptocurrencies like bitcoin. The annual report from Russia's Business Ombudsman, Boris Titov, titled "Key Business Problems under Sanctions and Structural Transformation in 2023," suggests allowing the use of cryptocurrencies in international settlements. The report recommends dedicated legislation for cross-border crypto payments, determining the legal status of such transactions in Russia, and creating a system for mutual settlements. Russian companies are already utilizing cryptocurrencies for foreign trade, even in the absence of regulations.

Bitcoin News - 1180 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