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Crypto News

Bitcoin Bull Run Initiated in March Anticipated to Reverberate, Arthur Hayes Predicts

BitMEX co-founder Arthur Hayes believes that Bitcoin's recent six-month bull run will have a significant impact on the market in the next six to twelve months. Speaking at Korea Blockchain Week, Hayes traced the beginning of the bull run to March 10 when the Federal Deposit Insurance Corporation took over Silicon Valley Bank. He highlighted that the Federal Reserve's interventions to stabilize the banking system by injecting money have undermined faith in fiat currencies, making assets like Bitcoin more attractive. Hayes predicts increased market response to Bitcoin's rise and its resilience regardless of central bank policies.

cointelegraph - 1084 ngày trước

Indian Central Bank-Backed Payment Giant NPCI Seeks Blockchain Expert to Enhance UPI System

India's National Payments Corporation (NPCI), supported by the Reserve Bank of India (RBI), is on the hunt for an adept blockchain technologist. The goal is to integrate blockchain technology into the Unified Payments Interface (UPI), which has gained global traction, including in countries like Singapore, UAE, and the UK. This move aims to further bolster UPI's efficiency and potentially expose millions of users to blockchain advancements. Over 200 applications have been received for the role, reflecting strong interest in NPCI's blockchain-powered vision for UPI's future.

cointelegraph - 1084 ngày trước

Crypto ETFs Set to Revolutionize Investment Landscape, Bernstein Analysts Says

Bernstein analysts foresee substantial commercial potential in diversification for asset managers, allowing entry into the rapidly expanding digital asset market. The emergence of crypto exchange-traded funds (ETFs) is expected to reshape the investment landscape. Bernstein experts believe Grayscale's legal victory over the US SEC opens doors for a broader range of crypto assets within the ETF framework. While the first Bitcoin ETF is projected between October 2023 and March 2024, experts predict Ethereum and other top-tier blockchain ETFs will follow suit. The trend toward crypto ETFs could legitimize cryptocurrencies as a mainstream asset class.

Coinspeaker - 1084 ngày trước

Billionaire Entrepreneur Elon Musk's Impact on Dogecoin and Blockchain Social Media Explored in New Biography

Billionaire entrepreneur Elon Musk's upcoming biography unveils his significant involvement in Dogecoin's development and his consideration of a blockchain-based social media platform. Musk's support for Dogecoin has fueled the cryptocurrency's popularity, with his actions even suspected of influencing its market. The biography details his "half-joking" idea to integrate Dogecoin into a payment system for a blockchain-powered social network. Despite this, Musk recently confirmed his platform X will not launch its own token. The biography also covers a failed attempt by Sam Bankman-Fried to invest in Twitter, ultimately highlighting Musk's ongoing impact in the crypto space.

Bitcoin News - 1084 ngày trước

Bitcoin Holdings on Centralized Exchanges Decrease, Reflecting Rising Self-Custody Trend

In the past three years, a significant movement of bitcoin holdings has favored self-custody. Centralized exchanges have witnessed a staggering withdrawal of 804,000 BTC ($20.79 billion) since September 2020, with 184,000 BTC ($4.75 billion) taken out in the last three months alone. Cryptoquant.com data reveals exchanges' BTC reserves dwindled from 2.828 million to 2.024 million over three years. The shift is driven by the appeal of self-custody, offering security against hacks, insolvencies, and regulations, highlighted by the FTX collapse. The trend signals a growing preference for user-controlled assets and the advantages of decentralized ownership.

Bitcoin News - 1085 ngày trước

London Stock Exchange Group Ventures into Blockchain to Revolutionize Traditional Asset Markets

London Stock Exchange Group (LSEG.L) plans blockchain-based trading of traditional financial assets through a separate entity, aiming to enhance efficiency, transparency, and cost-effectiveness in transactions. LSE Group's Capital Markets Head, Murray Ross, clarified that the initiative focuses solely on utilizing blockchain technology, not involving cryptocurrencies. The move reflects LSE's year-long exploration of integrating traditional markets into blockchain technology, driven by the intention to offer regulated, streamlined processes for asset trading and management. Blockchain's capacity to create secure and transparent transaction records is pivotal in this development.

coindesk - 1085 ngày trước

Turkey Sees Growing Crypto Adoption Amid Inflation Woes: KuCoin Survey

A recent survey by KuCoin, the world's fifth-largest crypto exchange, reveals that crypto adoption in Turkey has surged from 40% to 52% over 18 months, driven by rising inflation. The Turkish lira's 50% devaluation against the US dollar has prompted interest in crypto as an inflation hedge. Bitcoin dominates investments at 71%, followed by Ethereum and stablecoins. The report highlights increasing female involvement, with 47% of investors aged 18-30 being women. Word-of-mouth recommendations from friends and family influenced 57% of respondents to invest. KuCoin stresses understanding user behavior in evolving crypto landscapes.

Decrypt - 1085 ngày trước

SEC Likely to Approve Bitcoin ETFs After Grayscale's Legal Victory, JPMorgan Predicts

The US SEC is expected to approve multiple spot bitcoin exchange-traded fund (ETF) applications following Grayscale's recent legal triumph against the regulatory body, as stated by JPMorgan analysts. Grayscale's successful case challenges the SEC's inconsistency in rejecting its bitcoin trust-to-ETF proposal while approving futures-based bitcoin ETFs. The court ruled that similar risks existed in both markets. The SEC's delay in deciding on spot bitcoin ETFs from firms like BlackRock and Fidelity indicates a possible group approval. Although Grayscale's win advances ETF potential, its transformative impact on the crypto market is anticipated to be limited.

theblock - 1085 ngày trước

DeFi Poised to Outpace CeFi in the Next Bull Market, Binance CEO CZ Anticipates

Binance CEO CZ envisions DeFi surpassing CeFi in the upcoming bull market. Speaking on a live X Spaces session, he highlighted DeFi's growth potential and its 5-10% trading volume in comparison to CeFi. Following SEC actions against centralized exchanges, top DEXs saw a 444% surge in trading. CZ praised Uniswap's lawsuit dismissal, indicating positive progress for DeFi. Venture capitalists are shifting focus, with a 190% increase in DeFi investment in 2022, while CeFi saw a 73% drop. This shift signifies DeFi's emergence as a high-growth crypto sector, possibly outpacing CeFi.

cointelegraph - 1086 ngày trước

ARK Invest CEO Cathie Wood Bullish on Bitcoin and AI Collaboration's Impact

Cathie Wood, CEO of ARK Invest, expresses positive outlook on the synergy between Bitcoin and AI in a recent post. Wood highlights the transformative potential of their collaboration for industries and the economy. Supported by ARK Invest's research, her keen interest in both technologies is evident through investments in AI stocks and efforts toward a Bitcoin ETF. The ARK Disruptive Innovation ETF outperformed NASDAQ due to AI investments. Wood's optimism signifies the merging potential of Bitcoin and AI to reshape corporate dynamics and signal growth opportunities in the investment landscape.

cointelegraph - 1086 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