Turnaround for Grayscale investment in a difficult marketGrayscale Investments has hit a significant milestone by recording its first net inflows into the Grayscale Bitcoin Trust (GBTC) after months of continuous outflows. The development comes as a relief to the fund, which has faced outflows of more than $17.5 billion since the launch of 11 spot Bitcoin ETFs on January 11.Inflow details and market reactionGBTC recorded inflows of $63 million on May 3, a notable turnaround considering the significant outflows it has experienced since converting to a Bitcoin exchange-traded fund (ETF) in January. These inflows contrast sharply with the performance of…
Author: Crypto Flexs
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Rostin Behnam, chairman of the US Commodity Futures Trading Commission, said that as interest from retail investors and the value of cryptocurrency markets increase, so will enforcement actions.Behnam said he expects the next “enforcement action cycle” to occur within the next six months to two years.“From my perspective as a regulator, I think we will see another cycle of enforcement actions in the next six to 18 months or six to 24 months due to the cycle of asset valuation and interest from individual investors,” Behnam said. Conversation at the Milken Institute’s 27th Annual Global Conference. “Without the regulatory framework,…
The notable price rise of TerraClassic (LUNC) in recent months has become a focal point in the cryptocurrency market, attracting the attention of users and investors alike.As the token gains momentum, discussions surrounding its sustainability and potential for its future price trajectory are gaining traction. In this article, we take a look at Terra Classic price predictions to gain insight into the future of LUNC.What is Terra Classic (LUNC)?After the Terra LUNA (LUNA) blockchain project plummeted and collapsed in May 2022, founder Do-Kwon Kwon proposed a revival plan for the platform. As part of the recovery strategy in late May…
Analysts at global asset management firm Alliance Bernstein reaffirmed their bullish outlook for Bitcoin, predicting it will rise to $150,000 by 2025. They see the recent price correction as a healthy cleanup of market excess. They also highlighted the strength of the market, citing significant inflows into spot Bitcoin exchange-traded funds (ETFs) and encouraging signs of an increase in companies (…)
I know it’s been a while. But these days are pretty busy. I’m writing this from a Starbucks sitting behind the Great Firewall in Shanghai, a place I can occasionally peek into. I have been in Asia with Marek for the past few weeks, mainly for meetups, workshops and technical conferences. During this time, we have seen the launch, struggle, and survival of the Olympic Testnet. This is a very clear sign that multi-client systems will be far superior to our current monoculture. We have seen the start of a second external Go audit, primarily to identify regressions and provide…
Bitcoin Cash is currently becoming a hot topic as it is considering the possibility of becoming a Cardano partner chain. The network is working on a voting proposal to decide whether to become a partnerchain or not. More than 11,300 voters have participated, and 65% have already voted in favor of this decision. This proposal was posted on X by Cardano founder Charles Hoskinson. The founders asked the public to vote on important decisions. Although this suggestion is only hypothetical, Hoskinson has added information that may be of interest to the public. According to the post, this integration could bring…
Decentralized application (dApp) platform Near Protocol has seen notable growth in key metrics during the first quarter of 2024 (Q1), restoring its native token NEAR to key key levels and setting the stage for a potential retest to all-time highs. The road has been opened. ATH) from January 2022. According to recent report Under Messari, NEAR has seen significant growth in market capitalization, revenue, active addresses, and Total Value Locked (TVL), establishing it as one of the top players in the cryptocurrency market.advertising NEAR surpasses Bitcoin and Ethereum In the first quarter of 2024, NEAR’s secondary market capitalization soared to…
Memecoin, like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), was among the cryptocurrencies that underperformed the market on May 6, highlighting a departure from the momentum that drove the sector higher last week. According to data from CoinGecko, Memcoin’s overall market capitalization fell 2.7% over the past 24 hours to $55.48 billion.BONK fell the most, losing 6% of its market value over the last 24 hours. FLOKI followed, down 3.3%, and Mimecoin (MEME) took third place, down 3% over the same period.Performance of Topcap Meme Coin. Source: CoinGeckoDOGE, the leading meme token by market capitalization, fell 2.1% in price…
Whales reportedly had a field day last weekend, embezzling millions of dollars worth of digital assets from cryptocurrency exchange Binance. Lookonchain, a blockchain tracking company, said on Saturday that cryptocurrency whales were withdrew The world’s largest cryptocurrency comprised of decentralized oracle project Chainlink (LINK), meme token Pepe (PEPE), decentralized exchange Uniswap (UNI), stablecoin governance token maker (MKR), and domain naming system Ethereum Name Service (ENS). It is an exchange. Volume. “Whales accumulated PEPE, LINK, UNI, MKR and ENS… 0x1A2E withdrew ₩322.48 billion ($2.78 million) of PEPE from Binance (May 4). aavebank.eth withdrew 500,000 UNI ($3.75 million), 183,799 LINK ($2.62 million),…
Bitcoin (BTC) price rose above $65,000 on May 6 as analysts argued that the post-halving “danger zone” is over and there could be more upside for BTC.Bitcoin out of “danger zone” after halving – analystBitcoin’s post-halving danger zone is the three-week period following the halving, which has historically been associated with bearish volatility occurring below the re-accumulation range.The post-halving danger zone may be over as Bitcoin rises above its current re-accumulation range of around $60,000, according to prominent cryptocurrency analyst Rekt Capital. He wrote in a May 6 post:“Temporally, the post-halving ‘danger zone’ will continue for the remainder of this…