Bitcoin offers an alternative way to purchase goods and services, but most countries do not consider it a legal tender, and the economic impact of becoming a primary payment option is uncertain. Only two countries have adopted Bitcoin (BTC) as their legal currency. El Salvador became the first country in the world to adopt Bitcoin in September 2021, and the Central African Republic followed suit in 2022. According to the Naive Bukele Portfolio Tracker website, El Salvador’s cryptocurrency vaults generated $58 million in profits. The World Bank Group said the country’s economy is showing signs of improvement after 2021, thanks…
Author: Crypto Flexs
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Simon’s Cat (CAT), inspired by the YouTube cartoon series, launched a month ago. BNB-based CAT has gained about 250% since its listing on KuCoin. The project’s description claims to be related to the show’s writers. Simon’s Cat (CAT), the chubby cartoon character from the British animated series of the same name, entered the blockchain space a month ago. The always hungry cat became a meme thanks to creator Simon Tofield, and the YouTube series has garnered over 1.6 billion views on Simon’s Cat’s official YouTube channel.CAT Continues Its Exploration into On-Chain FoodThe CAT coin first saw an uptrend on August…
Timothy Morano 26 Sep 2024 13:02 After the Federal Reserve cut interest rates by 0.5%, Bitcoin recovered its short-term cost of ownership benchmark to around $61.9k. According to Glassnode Insights, Bitcoin (BTC) has recovered its short-term holding cost base of around $61.9k after the Federal Reserve’s 0.5% rate cut. This rally could make technical sense if the price remains above the 200-day moving average at $63.9k.summationBitcoin’s recent price action has somewhat relieved the pressure on short-term holders who were under pressure due to net capital outflows. New investors are showing resilience and realized losses…
Vilnius, Lithuania, September 26, 2024, Chainwire Cryptocurrency exchange BITmarkets has released its year-end update of its cryptocurrency research on the game changers in cryptocurrencies in 2024, titled “Crypto Game Changers Revisited.” Among the listed assets that include cryptocurrencies and other digital assets that have the potential to change the crypto world as we know it, one rising star is Sui. Sui is a blockchain token that is gaining popularity and importance within decentralized finance (DeFi) applications and technologies. “Sui’s continuous innovation and strategic partnerships have established it as a leader in the DeFi space. With low transaction fees, high-speed performance,…
Hong Kong regulators are said to be close to approving staking functionality for spot Ethereum exchange-traded funds (ETFs), a development that comes as the region continues its efforts to establish itself as a crypto hub. Andrew Branes, Vice President and Head of International Business at Blockdaemon, spoke about this possible approval in a recent interview with Token2049 in Singapore. Branesi said Blockdaemon has been actively working with Hong Kong spot cryptocurrency ETF issuers to devise staking solutions that meet regulatory requirements. Progress on Ethereum Spot ETF in Hong Kong Vranjes expressed optimism about progress, saying regulators could allow staking within…
On September 25, BlackRock, the world’s largest asset manager, attracted $184.4 million in inflows into its spot Bitcoin exchange-traded fund (ETF). This was the highest daily inflow for any fund in September, a month generally considered bearish for Bitcoin (BTC).According to Farside data, the Bitwise Bitcoin ETF (BITB) was the only fund to see inflows of $2.1 million on September 25, while the Fidelity Wise Bitcoin Origin Fund (FBTC) and the Ark 21Shares Bitcoin ETF (ARKB) experienced outflows of $33.2 million and $47.4 million, respectively.BlackRock Daily Inflows Surpass $100 Million for First Time in SeptemberBlackRock’s iShares Bitcoin Trust (IBIT) surpassed…
A popular cryptocurrency analyst believes one of the major Ethereum (ETH) competitors could be on the verge of a massive sell-off. Ali Martinez told her 72,400 followers on social media platform X that Toncoin (TON) could be in for a rough few weeks following a new announcement from messaging platform Telegram that it would be handing over user data to governments in certain circumstances. Telegram originally developed Toncoin in 2018, but parted ways with the project in 2020 following a legal dispute with the U.S. Securities and Exchange Commission (SEC). The Open Network, an open-source community of developers, took over…
Athena this +14.84% We are partnering with real-world asset tokenization platform Securitize to launch a new stablecoin, UStb.According to a statement shared with The Block, UStb is designed to function in the same way as existing stablecoins and is expected to invest reserves in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which is tokenized on Ethereum.BlackRock’s BUIDL fund invests in U.S. dollars, short-term U.S. Treasury bonds, and repurchase agreements. Since its launch in March of this year, BUIDL has grown rapidly to become the largest tokenized U.S. Treasury bond fund, with over $522 million in assets under management.According to data…
Dogecoin whale activity has surged by 63% in large transactions within 24 hours. The Stochastic RSI suggests that a short-term correction is likely despite the increasing social volume. Dogecoin (DOGE) has seen a surge in whale activity over the past 24 hours. Large transactions have surged by 63%, with whales moving 65.41 billion DOGE. This massive holding by the largest players in the market accounts for 41% of Dogecoin’s total supply. The aforementioned surge in whale activity suggests that large investors are taking positions, which could lead to increased market volatility. A surge in whale trading tends to precede potentially…
Alvin Lang 26 Sep 2024 09:07 Bitcoin (BTC) surged more than 22% following the Federal Reserve’s rate cut, but faced resistance at $65,200, according to Bitfinex Alpha. Bitcoin (BTC) has seen a significant surge of over 22% since the Federal Reserve decided to cut interest rates, reaching a new all-time high of $64,200 on September 20, according to Bitfinex Alpha. Despite this impressive rally, BTC has yet to break above the stubborn resistance level of $65,200, which has been observed since August 25. Failure to do so would confirm the downtrend that has been…