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Crypto News

People Seek Safety in Bitcoin Amid Declining Bank Trust Says Macro Guru Lyn Alden

Macro guru Lyn Alden highlights the growing understanding of Bitcoin's exceptional value proposition as a result of several regional bank collapses. During a recent MicroStrategy World Panel Session, Alden reveals that Americans are awakening to the inherent risks associated with banks, a notion already acknowledged globally. The ongoing banking crisis serves as a catalyst, prompting investors to recognize Bitcoin's appeal as a secure store of wealth. Alden emphasizes the cryptocurrency's fundamental properties, including self-custody, protection against dilution, and independence from liabilities, which further strengthen Bitcoin's narrative.

The Daily Hodl - 1199 ngày trước

Bitcoin Poised To Hit $35,000 As It Beats US Dollar In Preferred Asset

Bitcoin emerges as the preferred investment choice for both professional and retail investors, surpassing the US dollar, yen, and Swiss franc, as per Bloomberg's recent MLIV Pulse survey. With the looming U.S. debt ceiling default risk, investors are flocking to Bitcoin, causing its price to rally over $35,000. This surge is attributed to Bitcoin's growing reputation as a safe haven, following gold and treasuries, especially amid the potential catastrophic consequences the US faces. Notably, 7.8% of professional investors and 11.3% of retail investors prefer investing in Bitcoin, reflecting its increasing popularity.

CoinGape - 1199 ngày trước

Russian Companies Actively Utilize Crypto, 4 Laws to Be Implemented

The Russian State Duma plans to adopt four crypto-related laws during its spring session, aiming to regulate cryptocurrency mining, cross-border payments, taxation, and illegal use. Anatoly Aksakov, chairman of the Financial Market Committee, emphasized the need for a legal framework for cryptocurrency transactions, particularly in foreign trade settlements. He also mentioned that large Russian companies are actively using cryptocurrencies and expressed the intention to consider market participants' opinions on tax rules, taking into account norms applicable to digital financial assets.

Bitcoin News - 1199 ngày trước

The Awakening: After 12 Years Dormant, 'Ancient' Bitcoin Transfers Wallets

In an unexpected turn of events, 139 Bitcoins from 2011, now valued at $3.5 million, have reawakened after being dormant for nearly twelve years. This year has seen a notable increase in ancient Bitcoin movement, with 3,200 BTC, including 1,100 predating 2013, coming back to life. While it remains unclear if the owners' convictions have changed or if these movements are related to selling or personal custody, the market watches closely as the majority of the ancient supply is believed to be lost forever.

Decrypt - 1200 ngày trước

US Chamber of Commerce Stands by Coinbase's Call for SEC Regulatory Transparency

The US Chamber of Commerce has expressed its support for Coinbase's call for regulatory clarity from the SEC. Alongside other cryptocurrency firms, Coinbase has been advocating for clearer regulatory guidelines in the U.S. In a letter addressed to the SEC, the Chamber of Commerce highlighted the need for clear regulations to ensure investor protection, as well as to foster growth and innovation in the cryptocurrency industry. The support from the US Chamber of Commerce could help strengthen Coinbase's position in its ongoing efforts to improve regulatory clarity in the crypto space.

The Daily Hodl - 1200 ngày trước

LG Patent Allows TV Users to Trade NFTs Comfortably

LG Electronics, the South Korean tech giant, has made a significant move by filing a patent with the World Intellectual Property Organization (WIPO) for a TV that revolutionizes NFT transactions. This cutting-edge device seamlessly connects to an NFT market server, displaying a diverse collection of artworks, and enables users to conveniently buy, sell, and trade NFTs using their TV-connected cryptocurrency wallet. This patent is the latest addition to LG's ambitious plans in the metaverse and NFT space, despite the recent cooling off of the "Year of the Metaverse" hype.

Decrypt - 1200 ngày trước

Ethereum's Staking Rate on Track to Double Soon

Following the Shapella upgrade enabling validator withdrawals, Ethereum is witnessing a remarkable surge in staking activity. A report by Staked, a subsidiary of crypto exchange Kraken, suggests that the rate of staked ETH could potentially double in the next 18 months. Notably, total ETH deposits during the week ending May 2 were four times higher compared to the period before the Shapella upgrade. With this increasing staking demand, the stake rate is expected to reach 20-35% within the next 12-18 months. Kraken, Coinbase, and Binance are major contributors to recent un-staking activities.

theblock - 1201 ngày trước

Blockchain Gaming Firm Animoca Brands Accumulates $194 Million in Cash and Stablecoins

Hong Kong-based gaming company, Animoca Brands, declares its financial robustness to sustain operations in a recent blog post. With a stablecoin reserve of $194 million and $566 million worth of liquid digital assets, including the SAND utility token for the "Sandbox NFT metaverse platform," Animoca Brands showcases its solid position. The company's majority-owned Web 3 subsidiaries possess token reserves valued at $2.7 billion. Additionally, the firm reported substantial revenues of $573 million in the first quarter of 2022, demonstrating significant growth.

cryptonews - 1201 ngày trước

MicroStrategy Founder Saylor: Banking Crisis Fuels Smart Money Rush into Bitcoin

MicroStrategy's founder Michael Saylor predicts that the banking crisis will have a positive impact on Bitcoin. In an interview on the David Lin Report, Saylor highlighted the cryptocurrency's appeal to "smart money" amid the ongoing currency and banking turmoil. As trust erodes in traditional monetary systems worldwide, including the U.S. and Western Europe, Saylor asserts that the attractiveness of "commodity monies" like gold and Bitcoin is increasing. With its digital nature, portability, and scarcity, Bitcoin emerges as the superior form of commodity money, gaining recognition as the apex currency.

The Daily Hodl - 1202 ngày trước

MetaMask Expands Payment Options, Offers ETH Purchases via PayPal in the US

MetaMask, the popular Ethereum wallet, has launched a new feature allowing U.S. users to purchase Ether (ETH) using PayPal. This move marks a significant step towards mainstream adoption of cryptocurrencies, as PayPal has over 426 million active users worldwide. With this integration, MetaMask users can now use their PayPal account to buy, store and manage ETH, making it easier for the masses to access the world of decentralized finance. The feature is currently only available to US-based customers but is expected to roll out to other countries soon.

cointelegraph - 1202 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