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Crypto News

Bitcoin Set to Explode to $100K by end-2024, Standard Chartered Claims

Standard Chartered suggests Bitcoin could hit $100,000 by 2024, indicating the end of the "crypto winter." Factors driving this potential surge include banking sector turbulence, stabilization of risk assets as the U.S. Federal Reserve concludes its rate-hiking cycle, and enhanced crypto mining profitability. Though uncertainties persist, the path to $100,000 is becoming more apparent. Bitcoin has rallied this year, crossing $30,000 in April, rebounding after the massive crypto sector downturn in 2022 due to rate hikes and failing crypto firms.

Reuters - 1220 ngày trước

Dormant Ethereum ICO Participant Wakes Up After 7.7 Years

An Ethereum address that participated in the initial coin offering (ICO) has become active after 7.7 years, transferring one ether to a new address, possibly for a test transaction. This was the wallet's first outgoing transaction, and it received 2,365 ether during Ethereum's genesis, now worth around $4.42 million. Ether was priced at $0.31 during the ICO, but its current value is approximately $1,860, according to on-chain analysis by Lookonchain.

theblock - 1220 ngày trước

Ukrainian Government to Adopt EU's Crypto Market Rules

Ukraine plans to follow in the European Union's footsteps by implementing the crypto market rules approved by the European Parliament. The National Securities and Stock Market Commission of Ukraine (NSSMC) is working on the launch of the virtual assets market in Ukraine based on the MiCA regulation. While the nation's crypto tax rules are yet to be introduced, the Lviv Office of the State Tax Service has clarified that income from cryptocurrency transactions will be included in the total annual taxable income of private individuals.

Bitcoin News - 1220 ngày trước

Shiba Inu Burn Rate Soars, Whale Accumulates Tokens

The Shiba Inu community burned over 1.8 billion tokens in the past week, with more than 27 million entering the dead wallet recently. Shibburn data revealed a single wallet burned 15 million SHIBs, contributing to a 244.69% burn rate increase on April 21. A whale, BlueWhale0073, also accumulated 311,998,734 SHIBs, spending $3,325,906. Despite these events, SHIB's price remains unaffected. Binance moved SHIB out of its innovation zone, recognizing its growth, while ShibaSwap 2.0 is anticipated soon.

Twitter - 1221 ngày trước

Russia Explores Collaboration on International Digital Currencies

The Bank of Russia announces that the platform for the digital ruble will be capable of operating with various state-issued digital currencies. As the system underpinning Russia's central bank digital currency (CBDC) evolves, representatives of the Russian monetary policy regulator are working on mechanisms for interaction with digital coins issued by other countries' central banks. Officials have highlighted various models for interaction between the digital ruble and other CBDCs, such as two-way integration or an international digital platform facilitating multi-issuer interactions.

Bitcoin News - 1221 ngày trước

"Proof of Reserves' Bill Gets Texas House Approval

The Texas House of Representatives has approved a bill requiring crypto exchanges to maintain sufficient reserves to fulfill obligations to digital asset customers. The legislation amends the state's Finance Code, ensuring customers can fully withdraw their assets and prohibiting commingling of customer deposits with other accounts. Introduced by Republican Giovanni Capriglione, the bill addresses the "proof of reserves" issue. Exchanges must submit annual reports on deposits and assets, and customers can access quarterly accountings of liabilities and reserves. Non-compliant service providers may have their licenses suspended or revoked.

Decrypt - 1221 ngày trước

10-Year Dormant Satoshi Era Bitcoin Wallet Suddenly Active

A dormant Bitcoin wallet from the Satoshi era with 1,128 BTC worth $31.5 million has been activated after 10.5 years. The whale transferred 279 BTC worth $7.8 million to three new addresses, as per Lookonchain. Despite being known for coin dormancy, the Bitcoin network is seeing increased activity with over 270K daily organic transactions and a rise in hodling, as noted by Glassnode's recent report. Bitcoin's percent supply last active over five years has reached an all-time high of 28.58%.

U.Today - 1222 ngày trước

Abu Dhabi Global Market Seeks to Build Decentralized Economic System

Abu Dhabi Global Market's (ADGM) Registration Authority has proposed a legal framework for Distributed Ledger Technology (DLT) foundations, addressing governance, control, beneficiaries, and liquidation. The proposals aim to create a standalone DLT foundation framework, with a minimum asset value of $25,000, and recognition of token holder's legal status. The authority is seeking feedback on the proposals until May 12, 2023. The proposal highlights the opportunity for a standalone DLT foundations framework, recognizing token holders' legal status, and emphasizing transparency, fairness, and audited annual account submissions.

Watcher Guru - 1222 ngày trước

Gemini Plans to Open Offshore Crypto Derivatives Platform Amid U.S. Regulatory Hurdles

Gemini, the popular cryptocurrency exchange founded by the Winklevoss twins, is set to launch an offshore derivatives platform amid tightening regulations in the United States. The new division, called Gemini Foundation, will introduce perpetual bitcoin and ether contracts denominated in Gemini dollars. The contracts will not have an expiration date, unlike traditional derivatives. The move comes as crypto exchanges face heightened scrutiny from US regulators, prompting Gemini to seek opportunities overseas.

coindesk - 1222 ngày trước

Data Shows Bitcoin Lightning Network Fees 1,000x Less Than Visa And Mastercard

According to Glassnode, Bitcoin's Lightning Network has much cheaper median fee rates than traditional payment networks, with a fee rate of 0.0029% per 1 BTC sent across the network, equivalent to 3,000 Satoshis or $0.84 to send $28,800 worth of value. This is 1,000 times cheaper than MasterCard or Visa payment processors, which charge around 2-3% per transaction. This demonstrates that the Lightning Network is not only fast but also low-cost, offering businesses and users a cheaper alternative to legacy payment networks.

cointelegraph - 1222 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