Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Analysts are predicting a surge in the price of Shiba Inu and Ripple despite the market downturn, with the new coin delivering an impressive 700% rise. The cryptocurrency market has witnessed a sharp correction following a strong bull market that began in November. This decline affected the prices of Shiba Inu (SHIB) and Ripple (XRP). Nonetheless, analysts predicted prices could rise in the coming weeks. SHIB could rise to $0.0004729 and XRP could rise to $2.78. Meanwhile, Intel Market,…
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The number of stablecoins pegged to the Ethereum layer 2 network has hit an all-time high, showing growing demand for cryptocurrencies. Stablecoin supply on all blockchains is led by Tether (USDT), USD Coin (USDC), and Ethena’s stablecoin USDe.As of December 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal, a cryptocurrency data platform for institutions, and Cointelegraph Markets Pro. Total stablecoin circulation has surpassed $205 billion, demonstrating the ecosystem’s growing relevance in real-world use cases.Changes in total stablecoin supply due to blockchain. Source: TIE TerminalIn a December 15 post on It highlighted that…
U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded record outflows on Thursday, while CME futures premiums fell into single digits amid signs of weakening near-term demand.Investors withdrew $671.9 million in net assets from 11 ETFs, ending the 15th consecutive day of inflows, according to data from Coinglass and Farside Investors. This is the largest single day since the launch on January 11th.Fidelity’s FBTC and Grayscale’s GBTC led the outflow, with losses of $208.5 million and $188.6 million, respectively. Other funds also recorded outflows, with BlackRock’s IBIT hitting zero for the first time in weeks.Bitcoin extended its losses after the Fed…
Key Takeaways US Bitcoin ETF experienced historic outflows as investors withdrew $672 million in one day. Fidelity’s Bitcoin Fund led the outflows, followed by Grayscale and ARK Invest ETFs. Share this article The U.S. spot Bitcoin ETF suffered its largest single-day outflow ever amid a sharp sell-off in the cryptocurrency market following the FOMC meeting. About $672 million exited the fund on Thursday, ending a period of net inflows that began in late November, according to Farside Investors data.This large-scale withdrawal surpassed the previous record of $564 million set in May. 1, There were withdrawals of nearly $564 million from…
The CEO of stablecoin issuer Circle says digital assets pegged to the dollar should become a mass export product for the United States. In a new interview with CNBC TV, Circle CEO Jeremy Allaire said the United States should promote a “fully digital dollar” as a means of preserving the value of the greenback. Allaire also said the country’s financial situation was “not normal.” This could also be helped by a transparent digital dollar system. “Above all else, we must first focus on the power and competitiveness of the dollar. Even though the dollar is a reserve currency, there are…
Looking at the cumulative activity of whales and Smart DEX, it appears that purchasing activity has increased. Past active addresses by profitability shows that most traders are profitable. AAVE It continues to establish itself as a leading DeFi asset for whales. One whale in particular amassed 96,800 AAVE through aggressive dollar cost averaging and spent $17.8 million at an average price of $183.4. The recent influx of 9,702 AAVE, purchased for $3.18 million from GHO and WBTC, highlighted whales’ continued investment despite falling prices. The whale’s position with unrealized profits of $15.31 million, reflecting an 86.2% increase in value, indicates…
just alvin December 14, 2024 01:52 CleanSpark, Inc. announced the pricing of a $550 million convertible note to strengthen its financial strategy and expand its Bitcoin mining operations. CleanSpark, Inc. (Nasdaq: CLSK), a prominent player in Bitcoin mining, announced the pricing of a $550 million convertible note. The notes, which mature in 2030, carry a coupon of 0.00% and will be sold to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, according to CleanSpark. Offering Details The transaction includes a capped call with an initial cap price of $24.66,…
As we approach the end of the year, Asia Express takes a look back at some of the most important developments for Bitcoin and cryptocurrencies in the region in 2024. MicroStrategy’s Bitcoin Blueprint MicroStrategy has become a leading example of Bitcoin, securing 439,000 BTC, or about 2% of the total supply, according to BitcoinTreasuries.NET. Across Asia, Saylor’s Bitcoin blueprint has inspired several companies to stake their future on Bitcoin, and many more are expected to follow suit. As Asia Express reported last week, Chinese selfie app developer Meitu invested in 31,000 ETH and 940 BTC in the spring of 2021…
Jessie A. Ellis December 14, 2024 03:47 Follow insights from BNB Chain to learn how tokenization is revolutionizing financial asset management with benefits such as lower costs, transparency, and improved liquidity. Tokenization is rapidly changing the landscape of financial asset management, offering a variety of benefits that streamline and enhance traditional financial systems. According to BNB Chain, this fast-growing technology is expected to significantly expand the market size from $3,528.6 million in 2023 to $12,605.4 million in 2030, reflecting a compound annual growth rate (CAGR) of 20%. Advantages of Tokenization in Financial Asset Management…
Bitcoin (BTC)’s recent price rise above $100,000 coincides with a sharp decline in supply held by long-term holders. This means that some of the most seasoned Bitcoin investors in the market are posting record profits as BTC price rises towards the six-figure milestone. Realized profits from Bitcoin long positions hit an all-time high.The chart below shows companies that have held Bitcoin for more than 155 days as long-term holders (LTHs). Their behavior can often reflect changes in market sentiment.As of December 19, the supply of Bitcoin LTH had fallen to $13.31 billion, compared to a local high of about $14.23…