Author: NBTC
Phil Kwok, a guest lecturer at Cambridge University and co-founder of the crypto learning platform EasyA, recently discussed how far the XRP price could rise. In a post on X, Kwok introduced a three-step framework to assess blockchain ecosystems and how sustainable they are. Notably, this framework focused on three factors: supply, demand, and supply shocks. Essentially, these factors are responsible for determining a token’s value. XRP Supply Situation In his commentary, Kwok stressed that it is important to understand the origin of an asset and token creation. With this, he pointed out that XRP has a fixed supply of…
A solo miner succeeded in producing the header for Bitcoin block 881423, taking the whole 3.125 BTC rewards. The miner is part of a new drive to use simple equipment to bring back retail BTC block production. A Bitcoin block at height 881423 was solved by a solo miner, who took the entire 3.125 BTC reward. Despite the near-record hashrate and competition, mining remains a game of luck, and the block was discovered with a small fraction of the total hashrate. The discovery of a solo block usually happens a few times a year and is highly improbable but not…
Veteran commodities trader Peter Brandt hints that the recent Bitcoin bounce has notable implications. Over the past 24 hours, the market tested the faith of many Bitcoin holders as BTC price saw a sharp decline from near $96,000 to below the psychologically important $90,000 level. The decline, however, was short-lived as the asset bounced back even faster. The price action likely has notable implications, as one veteran trader has recently hinted. Bitcoin’s “Significant” Bounce Veteran commodities trader Peter Brandt has hinted that Bitcoin’s recent bounce has notable implications. In a Tuesday, January 14 response to a “Cheds Trading” X post…
The Bitcoin decentralized finance (DeFi) liquidity protocol, Velar, has unveiled the BTC Name Grant Program to unify digital identities on the Bitcoin layer-2 network Stacks and simplify on-chain transactions. According to a press release shared with CryptoPotato, the latest initiative will boost the use of the .BTC digital identity standard in the Bitcoin ecosystem, significantly reducing manual errors during transactions. Velar Launches .BTC Grant Program Set to launch on January 30, the BTC Name Grant Program represents a shared commitment among top Stacks projects to advance the ecosystem’s infrastructure and make it more accessible to new and existing investors. To…
Grayscale has introduced the Grayscale Bitcoin Miners ETF (MNRS), providing investors with exposure to companies operating in the Bitcoin mining industry. This ETF focuses on firms included in the Indxx Bitcoin Miners Index, which tracks businesses that generate most of their revenue from Bitcoin mining or related services, including hardware, software, and infrastructure. Grayscale Continuous to Innovate with Crypto ETFs The latest ETF offers an alternative for those looking to invest in the Bitcoin mining sector without directly holding digital assets. It caters to investors interested in companies linked to Bitcoin’s price movements. The fund will appeal to investors who…
The potential approval of a Litecoin ETF in the United States is gaining attention following recent developments. Canary Capital, which filed the initial S-1 registration for its Litecoin ETF proposal in October 2024, has now submitted an amended version. This filing and industry insights point toward possible engagement from the U.S. Securities and Exchange Commission (SEC). Amended Filing Indicates Progress in Litecoin ETF Proposal The amended S-1 filing outlines key operational details for the proposed Litecoin ETF. U.S. Bancorp Fund Services is identified as the fund administrator, while Coinbase Custody Trust and BitGo would serve as custodians for the Litecoin…
BlackRock revealed that it purchased 318 Bitcoin as the U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) hit one year after being approved and launched. Fidelity also sold 1,210 Bitcoins from its Fidelity Physical Bitcoin ETP (FBTC). BlackRock added more BTC to its $11 trillion in assets under management, and Nate Geraci, president of the advisory firm, The ETF Store, believes IBIT could surpass SPDR Gold Shares. Nasdaq also argued that the increase in position and exercise limit for IBIT was necessary to accommodate its large market presence. Analysts say IBIT reached new milestones fast 🚨 Fidelity Sells 1210 Bitcoin. ETFs…
The world’s largest sovereign wealth fund, Norway’s Norges Bank Investment Management (NBIM), has amassed $356.7 million in indirect bitcoin (BTC) exposure, according to K33 Research.At the end of 2024, the fund indirectly held 3,821 BTC, reflecting a 153% year-over-year increase from 1,507 BTC, according to K33. The data highlight the fund’s evolving indirect bitcoin exposure, growing from just 796 BTC in in 2020. NBIM year-end indirect exposure (K33 Research) NBIM also maintains stakes in a number of crypto-related public companies. As of year-end 2024, its holdings included a 0.72% stake in MicroStrategy (MSTR), equivalent of $500 million, 1.1% of Tesla…
Tron (TRX) founder Justin Sun, who draws attention with his altcoin investments, made a big splash in recent months by purchasing $30 million from Donald Trump’s cryptocurrency project World Liberty Financial (WLFI). Justin Sun, who holds the WLFI tokens he bought, made a new purchase. Accordingly, Justin Sun announced in his post that TRON DAO increased its total investments in the Trump-led WLFI to $75 million. According to the data, Tron DAO purchased 1B WLFI for 15M USDT. At this point, Justin Sun shared that TRON DAO invested an additional $45 million in World Liberty Financial (WLFI), bringing the total…
The stateside demand for regulated crypto products is real. The U.S. SEC-approved options tied to BlackRock’s spot bitcoin (BTC) exchange-traded fund (IBIT), which debuted on Nov. 19, are already almost half the size of Deribit’s eight-year-old bitcoin options market. On Monday, there were 2.16 million open or active IBIT options contracts, representing a notional value of $11 billion, according to data source optioncharts.io. This notional value is derived by multiplying the open interest by the ETF’s price and the lot size 100. The tally equates to 50% of the $23 billion locked in the open BTC options on Deribit at…