Cryptocurrency
$4B BTC in 4 weeks: How Bitcoin ETFs buy more than double the BTC mined
PositiveCryptocurrency
In a remarkable trend, U.S. spot Bitcoin ETFs have accumulated $4 billion in just four weeks, significantly outpacing the amount of Bitcoin mined during the same period. This surge, highlighted by a $1.63 billion addition last week alone, reflects growing investor confidence and interest in Bitcoin as a viable asset. With nine out of the last twelve weeks showing positive inflows, this momentum could signal a robust market for Bitcoin heading into 2025, making it an exciting time for both investors and the cryptocurrency landscape.
Bitcoin hits $118.5k: All-time high could be next as rate-cut bets crush shorts
PositiveCryptocurrency
Bitcoin has surged to nearly $118,500, driven by expectations of rate cuts amid a potential U.S. government shutdown. This surge is significant as it indicates a shift in market sentiment, with many investors betting on further gains. Additionally, gold has reached record highs, reflecting a broader trend of investors seeking safe havens. The current economic climate suggests that both Bitcoin and gold could continue to thrive, making this an exciting time for investors.
Wallets, not brokers: How tokenized stocks are putting wall street on a 24/7 clock
PositiveCryptocurrency
In a groundbreaking shift, tokenized stocks are revolutionizing how investors engage with the market, allowing transactions to occur 24/7 without the need for traditional brokers. This innovation, highlighted by Jamie Elkaleh from Bitget, showcases how investors can buy fractions of stocks like Tesla directly from their wallets, eliminating fees and trading windows. This development is significant as it democratizes access to stock trading, making it more efficient and accessible for everyone, and could reshape the future of investing.
Pi Network arms its testnet with a DEX and AMM for DeFi innovation
PositiveCryptocurrency
Pi Network has introduced a decentralized exchange (DEX) and an automated market maker (AMM) on its testnet, enhancing its DeFi capabilities. This development allows users to experiment with token swaps and liquidity pools safely, without risking the mainnet. This is significant as it positions Pi Network as a player in the DeFi space, potentially attracting more users and developers to its ecosystem.
Why did the crypto market pump today? Everything that helped the leg-up
PositiveCryptocurrency
Today, the cryptocurrency market saw a significant boost, with Bitcoin trading at $117,000, marking a 3.3% increase in just 24 hours. This surge is largely attributed to a weakening US dollar amidst concerns over a government shutdown. Investors are leaning towards a more dovish interest rate approach, prompting Bitcoin to reclaim $114,000 and continue its upward trajectory. This trend highlights Bitcoin's role as a hedge against instability, making it a focal point for those looking to safeguard their investments during uncertain economic times.
New degen trenches? Prediction markets double volume to $4.3B as Solana memecoin trading slumps
PositiveCryptocurrency
In September, prediction markets surged in popularity, with trading volume skyrocketing to $4.28 billion, indicating a growing interest among crypto enthusiasts. This rise comes as Solana's memecoin trading experiences a downturn, leading many to speculate whether prediction markets are becoming the new playground for risk-takers seeking excitement and profit. This shift could reshape the landscape of crypto trading, highlighting the evolving strategies of investors.
US Government shutdown freezes SEC reviews, altcoin ETF floodgates remain shut
NegativeCryptocurrency
The recent US government shutdown has caused significant delays in the approval process for exchange-traded fund (ETF) filings by the Securities and Exchange Commission (SEC). This halt means that the anticipated influx of altcoin ETFs is now on hold, impacting investors and the cryptocurrency market. The SEC's operations plan clearly states that it will not review new financial products during this period, which raises concerns about the future of altcoin investments and market dynamics.
Bitcoin rally looms with projections hinting at $200,000 surge
PositiveCryptocurrency
Bitcoin is gearing up for a potential rally, with projections suggesting prices could soar to $200,000 by the end of 2025. This optimism stems from a significant increase in demand, as highlighted by analytics firm CryptoQuant, which reported an average of over 62,000 BTC in net inflows each month since midsummer. This surge in interest could indicate a strong market recovery, making it an exciting time for investors and enthusiasts alike.
Top Bitcoin mining pool SBI Crypto hacked, $21 million stolen
NegativeCryptocurrency
SBI Crypto, a prominent Japanese Bitcoin mining pool, has been hacked, resulting in a staggering $21 million theft. Investigators suspect that North Korean attackers are behind this breach, which highlights the ongoing vulnerabilities in the cryptocurrency sector. The incident, identified by blockchain researcher ZachXBT, involved unusual outflows of various cryptocurrencies, raising concerns about security measures in place at such major operations. This breach not only impacts SBI Crypto but also serves as a warning to the entire crypto community about the risks of cyberattacks.