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Crypto News

Bitcoin Whales Maintain Strong Stance Through Market Volatility with $1.5 Billion Accumulation

Prominent Bitcoin investors, or "whales," have shown resilience amidst recent price fluctuations. Data from crypto analytics firm IntoTheBlock reveals that entities holding over 0.1% of the Bitcoin supply, valued at over $500 million, increased their holdings by $1.5 billion in the final two weeks of August. Notably, this accumulation coincided with minimal inflows into exchanges, indicating genuine buying interest. These strategic moves occurred during a period of price decline, with the largest haul after an August 17 drop. Analysts see Grayscale's ETF progress as a catalyst, potentially broadening Bitcoin accessibility.

coindesk - 1087 ngày trước

Arkham Intelligence Detects Grayscale's Ethereum Trust as Second-Most Significant ETH Holder

Arkham Intelligence reveals Grayscale's Ethereum Trust as the second-largest ETH holder, with $5 billion (rounding up from $4.9 billion). The trust's funds are dispersed across 500 addresses, each having $30 million or less. Arkham's identification was based on activity analysis and cross-referencing with Grayscale's public reports. Although Grayscale's website shows almost $5.0 billion in its Ethereum Trust, Arkham's findings pertain to the specific addresses linked to the fund, not the overall balance discovery. Discrepancies arise in Arkham's data versus Grayscale's self-reported figures for other cryptocurrencies held.

CryptoSlate - 1088 ngày trước

Judge Asserts Bitcoin and Ether as Commodities, Dismisses Uniswap Class Action Lawsuit

The U.S. District Court, Southern District of New York, dismisses class-action suit against Uniswap Labs and others for alleged securities violations on Uniswap platform. Plaintiffs claimed losses due to "scam tokens," but decentralized nature made defendants unidentifiable, leading to dismissal by Judge Katherine Polk Failla. Ruling provides clarity for DeFi operators and potential impact on SEC's Coinbase lawsuit. The decision sets precedent for U.S. crypto securities regulation, with Judge Failla referring to Bitcoin and Ethereum as "crypto commodities," influencing future cases.

Kitco News - 1088 ngày trước

Colorado Division of Motor Vehicles (DMV) Joins Forces with PayPal, Allowing Crypto Payments

Colorado's Division of Motor Vehicles (DMV) becomes the first state agency to embrace cryptocurrency payments, partnering with PayPal for online services. Users can pay for licenses and registrations using PayPal's crypto feature, which converts chosen cryptocurrencies into dollars for a $1 fee plus 1.83% of the transaction. This move aligns with Colorado's history of blockchain integration and innovation, including accepting crypto for taxes. While other states consider similar options, Colorado's initiative may boost wider adoption of digital assets in government transactions, showcasing the role of platforms like PayPal in mainstreaming cryptocurrencies.

cryptopolitan - 1088 ngày trước

Chinese Court Recognizes Virtual Assets as Legally Protected Properties, Signaling Cryptocurrency Acceptance

A recent report from a Chinese People's Court has marked a significant shift in the nation's stance on cryptocurrencies. The court's analysis concludes that virtual assets possess economic attributes qualifying them as legal property, despite the country's prior blanket ban on foreign digital assets. The report also suggests a unified approach to handling virtual asset-related crimes while ensuring a balance between personal property rights and societal interests. This move indicates a gradual softening of China's strict stance on cryptocurrencies, reflecting the evolving global acceptance of digital assets.

cointelegraph - 1088 ngày trước

Former US SEC Chair Jay Clayton Asserts Unavoidable Approval of Bitcoin ETF

Former SEC Chair Jay Clayton is optimistic about the approval of the first spot Bitcoin ETF in the US, citing retail investor interest and support from institutions like Blackrock. The recent court approval for Grayscale's GBTC Bitcoin Trust to become a spot ETF has boosted the chances. Clayton believes that major financial players' confidence in crypto trading and clarification on manipulative concerns will drive approval, asserting that Bitcoin is not a security but a sought-after asset. He states, 'Approval is inevitable' amidst changing dynamics in crypto trading.

CoinGape - 1088 ngày trước

JPMorgan Forays into Cryptocurrency Travel Landscape through Trademark Application

JPMorgan Chase takes a significant step into the cryptocurrency realm through a trademark application for "Chase Travel." The application signals the bank's interest in offering virtual currency exchanges and travel agency services. This aligns with the wider trend of traditional financial institutions adopting blockchain and cryptocurrency. The application outlines services spanning credit card promotions, customer support, financial offerings like travel insurance and currency exchange, and travel reservations. JPMorgan aims to seamlessly incorporate cryptocurrencies into everyday travel transactions. While regulatory challenges persist, this move showcases the institution's commitment to crypto-based services.

U.Today - 1088 ngày trước

Bitcoin's Long-Term Holders Stay Resilient Amidst Market Volatility

Amidst market turbulence, Bitcoin's steadfast long-term holders continue to demonstrate resilience, maintaining a strong 68.6% HODL Wave, as reported by LookIntoBitcoin. Despite a recent 10% price dip, these investors remain committed to their assets. Factors such as Grayscale's ETF application and a significant market segment in a holding pattern underscore their unwavering optimism. Historical trends reveal a positive correlation between high HODL Wave levels and Bitcoin's price surge. This data suggests a positive outlook for the cryptocurrency's value as long-term holders signal market sentiment through their sustained commitment.

Blockworks - 1089 ngày trước

SEC Delays Seven Spot Bitcoin ETF Decision till October

U.S. Securities and Exchange Commission (SEC) has postponed verdicts on seven bitcoin ETF applications from firms like Blackrock, Wisdomtree, and Invesco Galaxy. The SEC expressed the need for more time to thoroughly assess the proposed ETFs and address concerns. Decisions on the applications, including those from Bitwise, Fidelity's Wise Origin, and Valkyrie, are now expected in mid to late October. Despite the delay, experts estimate a 75% chance of a bitcoin ETF being approved in 2023. The SEC began reviewing these applications last month after years of rejections and follows Blackrock's initial attempt this year.

Bitcoin News - 1089 ngày trước

Chainlink and Swift Collaboration Enables Seamless Token Transfer Across Blockchains

Swift and Chainlink have successfully conducted experiments in transferring tokenized value across various private and public blockchains. The collaboration aimed to facilitate seamless connectivity for asset tokenization, involving financial institutions like BNP Paribas and BNY Mellon. The findings hold potential to accelerate the growth of tokenized asset markets globally, contingent upon regulatory clarity and data privacy considerations. Swift utilized Chainlink's Cross-Chain Interoperability Protocol (CCIP) to bridge different blockchains, marking a significant step towards scalable tokenization. The experiments underscore the importance of a secure and trusted infrastructure for realizing tokenization's potential.

coindesk - 1089 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 - 1071 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 - 1071 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 - 1071 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 - 1071 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 - 1072 ngày trước