Author: NBTC
Spot Bitcoin ETFs saw another massive inflow of $493.3 million on Monday, the third-largest net inflow to date, as BTC price breaks above $50,000. Experts believe BTC price rally will continue amid demand build-up from Bitcoin ETFs and derivatives traders. Spot Bitcoin ETF Saw $493.3 Million Net Inflow The new nine and Grayscale’s GBTC spot Bitcoin ETF started the week strongly with a $493.3 million net inflow on February 12, according to the latest Bitcoin ETF flow data. BlackRock (IBIT) recorded a record inflow of $374.7 million, with total inflow reaching over $4.126 billion. BlackRock Bitcoin ETF now has asset…
In a recent report, research-driven investment firm Paradigm shared their perspectives on the upcoming Ethereum hard fork, Prague, and their broader development plans for 2024. According to the report, the Prague hard fork is expected to make its debut on Ethereum testnets by Q3 2024, with a potential mainnet launch by the end of the same year. The primary objectives for this hard fork include the incorporation of staking-related Ethereum improvement proposals (EIPs), specifically EIP-7002, which facilitates re-staking and trustless staking pools. Additionally, the Prague upgrade aims to introduce isolated Ethereum Virtual Machine (EVM) changes. The report highlights several EIPs…
Asset management firms have cut fees on their Bitcoin exchange-traded funds (ETFs) in Europe by over 60% to compete with products now available to U.S. investors. In an interview with the Financial Times, Gary Buxton, Invesco head of ETFs for Europe, the Middle East and Africa, and Asia Pacific, said many ETF providers have lowered their fees on their spot Bitcoin ETFs in response to the competitive landscape in the U.S. market. Cathie Wood’s Ark Investment Management, initially indicating a 0.8% fee for its spot Bitcoin ETF, eventually launched with no fees for the first six months or until assets…
In a flurry of unusual transaction activity, popular cryptocurrency XRP and cross-border crypto remittances company Ripple have made significant moves within the last 12 hours. According to reports from Whale Alert, a staggering 100 million XRP, valued at almost $52.6 million, were transferred from an unknown wallet to Ripple. The timing of this transfer is particularly noteworthy, as it comes amid heightened attention from the crypto and XRP communitiws. Just prior to this influx, Ripple initiated another substantial transfer, sending 80 million XRP, worth slightly over $42 million, to another undisclosed wallet. 🚨 🚨 80,000,000 #XRP (42,057,144 USD) transferred from…
Scholar and risk managing expert, author of bestselling books, including “Black Swan” and “Antifragile”, Nassim Nicholas Taleb suddenly backed from his pro-Bitcoin position exactly three years ago to become a rigid BTC critic. It happened a few months before Bitcoin his its first all-time high in 2021 – $63,000. Taleb’s arguments against Bitcoin In his tweet published on February 12, 2021, Taleb stated that he had began getting rid of his Bitcoin holdings. Explaining why he began to do that, the scholar wrote that “a currency is never supposed to be more volatile than what you buy and sell with…
Ki Young Ju, founder and CEO of CryptoQuant, leading on-chain analytical firm, shared his views on the Ethereum (ETH) staking progress. He admits he was wrong about Shapella hard fork’s effects. Ethereum (ETH) staking ratio surges to 24% and counting Ethereum (ETH) staking ratio, i.e., the percentage of ETH coins locked in staking, reaches 24% and keeps surging. Meanwhile, only 11% of the ETH supply is stored on centralized exchanges. The data was shared by Ki Young Ju on X today, on Jan. 18, 2024. $ETH staking now at 24% of total supply, with only 11% on exchanges.Tbh, I expected…
Marathon Digital, Riot Blockchain, and other public Bitcoin mining companies witnessed positive returns on Monday as Wall Street reached new milestones. The top five largest Bitcoin mining firms by market capitalization saw gains ranging from 2.98% to 6.25% on Monday evening, coinciding with record highs set by the S&P 500 and Dow Jones. While no crypto-related companies are directly listed in these indexes, the overall market excitement appears to have influenced investor sentiment. According to data from CompaniesMarketCap, Bitdeer Technologies Group (BTDR) is the main gainer, showing a 6.25% price increase in the past 24 hours. Following closely are Cipher…
The co-founder of Block Digital Corporation, Santiago Velez, recently explained how the XRP Ledger (XRPL) ecosystem could be enhanced with XRP, citing a case with Solana. Velez revealed this while discussing the perceived lack of growth and adoption for the XRP Ledger over the years, especially when compared to newer protocols, such as Solana. He called attention to one solution for this problem: the advent of venture capital (VC) firms. Solana VC Fundings According to Santiago Velez, Solana has witnessed massive growth since its launch in March 2020 because of venture capital firms pumping capital into the ecosystem for the…
Bitcoin price made its debut above $50,000 for the first time since December 202, topping out at $50,400. The upswing in price comes on the backdrop of immense interest in the recently launched spot BTC ETFs. Speculators are banking on this positive trend, channeling more money into the markets to keep Bitcoin moving to higher levels, with a local top anticipated at $55,000 before the halving due in April. How BTC ETFs Pump Bitcoin Price The cumulative total net inflow volume in the new spot ETF sector reached $3.26 billion on February 12, as seen on SoSoValue. Backing the impressive…
China authorities have proposed new policies to accelerate the adoption of digital yuan in designated districts in Beijing and Shanghai. According to Xinhua, China State Council’s General Office has announced a comprehensive reform initiative for Shanghai’s Pudong New Area, scheduled to run from 2023 to 2027. China State Council Reform Plan for Shanghai This plan is focused on enhancing the area’s reform, with the ultimate goal of establishing the Pudong District as a frontrunner in modernization. The reform plan outlined includes a significant focus on the pilot use of digital yuan in various sectors in Pudong, underscoring underscores the potential…