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Crypto News

Long-Term Litecoin Holders Reach 5 Million Milestone, Up 96% Since August 2022

The number of long-term Litecoin (LTC) holders has surged to five million, nearly doubling in the past year, despite a consistent drop in LTC's price. This marks a 96% increase from August 2022, reflecting growing confidence in the cryptocurrency. Investors' "HODLing" attitude remains strong, with 13% of LTC's total supply untouched for five years. Although Litecoin's price dropped following a recent halving event, it stood out as one of the few altcoins classified as a commodity in regulatory investigations against Binance. The network hash rate and difficulty levels remain near all-time highs.

CryptoPotato - 1081 ngày trước

JPMorgan's Exploration of Blockchain-Powered Payment and Settlement Solution Revealed by Bloomberg

Banking giant JPMorgan Chase is reportedly in the early stages of developing a blockchain-based digital payment and settlement system, as per Bloomberg News. Although JPMorgan has already built a substantial part of the necessary infrastructure, it awaits approval from U.S. regulators before proceeding. This system, centered around digital deposit tokens, has the potential to expedite transactions and reduce costs, making it possible to transfer funds between different banks and settle tokenized securities. JPMorgan had previously collaborated with the Monetary Authority of Singapore on a deposit token payment system trial in 2022, marking its commitment to blockchain-based financial solutions.

theblock - 1081 ngày trước

Arkham Intelligence: Grayscale Bitcoin Trust Emerges as World's Second-Largest Bitcoin Holder with $16 Billion

Grayscale Bitcoin Trust (GBTC) holds over $16 billion in Bitcoin across 1,750 different addresses, making it the world's second-largest Bitcoin holder, according to blockchain analytics firm Arkham Intelligence. Grayscale's decision not to disclose these addresses for security reasons has raised some concerns. However, recent legal developments in which the U.S. Court of Appeals instructed the SEC to review GBTC's application to become an ETF have led to increased interest in Grayscale's assets. In total, Grayscale holds over $21 billion in digital assets, including Ethereum, Chainlink, and Polygon. These findings validate Grayscale's claims regarding its holdings.

CryptoPotato - 1081 ngày trước

XRP Trading Volume in August Left Competitors in Dust

In August 2023, XRP has emerged as the most favored altcoin for traders, boasting a 30-day average daily trading volume exceeding $462 million, leaving its closest competitor, Solana (SOL), trailing at $128 million. The data comes from Kaiko, an on-chain market data tracker. Despite a sudden $3 billion volume surge on August 13, XRP's price remained stable. Moreover, on September 2, the XRP Ledger saw record-breaking on-chain transactions. Impressively, XRP even briefly outperformed Bitcoin in trading volume, accounting for 21% of all cryptocurrency trading.

U.Today - 1081 ngày trước

Financial Accounting Standards Board's Vote Supports Fair Value Accounting for Bitcoin

The Financial Accounting Standards Board (FASB) is set to introduce new fair value accounting rules for Bitcoin and cryptocurrencies, aiming to enhance transparency in financial reporting. These rules, expected by year-end and effective from 2025, will allow companies to report unrealized gains and losses on Bitcoin, making it more appealing as a long-term investment. This move promises more timely and accurate financial information for investors and regulators, fostering trust in the cryptocurrency industry and recognizing Bitcoin's growing importance in mainstream finance. Despite challenges, the adoption of these rules signifies a significant step forward.

Bitcoin Magazine - 1082 ngày trước

Polygon Labs Secures Partnership with $500B Korean Asset Manager for Tokenized Securities Network

Mirae Asset Securities, South Korea's largest financial group, is collaborating with Ethereum scaling platform Polygon Labs to advance tokenization in finance and promote Web3 technologies. This partnership aims to create infrastructure for tokenized securities issuance and exchange. Traditional finance giants like Franklin Templeton have already initiated tokenization projects on Polygon, indicating the growing trend. The tokenization market is expected to grow significantly by 2030, reaching $16.1 trillion, with Mirae's efforts likely contributing to Web3 adoption in the financial sector and fostering interoperability with foreign financial systems.

coindesk - 1082 ngày trước

Valkyrie's CIO Envisions U.S. Bitcoin Spot ETF Greenlit by Q1 2024

In a recent Bloomberg interview, Steven McClurg, CIO of Valkyrie Investments, predicts that a Bitcoin spot ETF could become a reality by Q1 2024, potentially marking a significant milestone for the crypto industry. McClurg also indicates a "50%" chance of approval in October 2023, the earliest possible evaluation by the SEC. The discussion revolved around ongoing efforts by financial institutions to launch a Bitcoin ETF in the U.S., with growing regulatory acceptance and institutional interest cited as promising signs. This development could attract institutional money into the market, potentially driving liquidity, although regulatory hurdles remain.

Bitcoin Magazine - 1082 ngày trước

India's G20 Presidency Sparks Intense Talks on Worldwide Crypto Regulations

India's Finance Minister, Nirmala Sitharaman, announced progress in discussions for a global framework on cryptocurrencies during India's G20 presidency. Prime Minister Narendra Modi emphasized the importance of global collaboration on crypto regulations among G20 nations. Sitharaman, speaking at the Global Fintech Fest, described crypto as both a threat and an opportunity, stressing the need for global cooperation to ensure responsible regulation. India, as G20 president, continues to advocate for global collaboration on financial security and crypto regulations, with the International Monetary Fund and Financial Stability Board contributing synthesis papers on the subject.

cointelegraph - 1082 ngày trước

Ripple and SBI Holdings Unveil Revolutionary XRP Adoption Strategy

SBI Remit and Ripple join forces to launch SBI Ripple Asia, a pioneering venture bringing XRP-powered remittance to the Philippines, Vietnam, and Indonesia. This move follows their successful introduction of XRP for cross-border transfers in Japan last year. SBI Remit will use XRP to process real-time customer remittances, partnering with Tranglo to ensure easy conversion to local currencies. This cost-effective and speedy solution aims to enhance SBI Remit's global competitiveness in international money transfers. Implementation begins this month, targeting regions with high bank account remittance proportions.

U.Today - 1082 ngày trước

88,200 Millionaires Attribute Their Fortune to Cryptocurrency, New Study Reveals

A recent study by Henley & Partners, a London-based investment migration consultancy, reveals that out of the world's 56.1 million millionaires, 88,200 have accumulated their wealth through cryptocurrency. Specifically, 40,500 of these crypto millionaires have Bitcoin to thank for their fortunes. There are 182 centi-millionaires (with over $100 million in assets) and six billionaires who have made their wealth through cryptocurrencies. Notable figures in this elite group include Binance's CEO Changpeng Zhao, Ripple's Chris Larsen, and the Winklevoss twins. As governments consider crypto regulations, these individuals are exploring investment migration options to protect their assets.

Bitcoin news - 1082 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 - 1070 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 - 1070 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 - 1070 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 - 1070 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 - 1071 ngày trước