Author: NBTC
Robinhood is expected to benefit the most from crypto deregulation in the U.S., the report said. Bernstein raised its price target for the trading platform to $51 from $30. The company’s acquisition of crypto exchange Bitstamp is expected to boost the value-added crypto services it can offer, the broker said. Robinhood (HOOD) is set to be the biggest beneficiary of regulatory tailwinds from a potentially pro-crypto U.S. Securities and Exchange Commission (SEC) under a Donald Trump administration, broker Bernstein said in a research report Wednesday. The broker raised its price target for the popular trading platform to $51 from $30…
Coinbase will discontinue support for wrapped Bitcoin (WBTC) on December 19, 2024, across its platforms, including Coinbase.com, Coinbase Exchange, and Coinbase Prime, the exchange shared in a statement. The specific reasons for the delisting were not disclosed. However, Coinbase said its decision was based on its “most recent review,” suggesting that WBTC might no longer meet its listing standards. We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET. — Coinbase Assets 🛡️…
Spot bitcoin exchange-traded funds will soon hold over one million BTC. The funds recorded one of their biggest week of inflows last week, taking in over $2.1 billion in just five days. BlackRock’s iShares Bitcoin Trust (IBIT) could soon cross the 400,000 bitcoin mark. The holdings of the U.S. spot bitcoin exchange-traded funds are about to cross over one million tokens after only ten months of trading. Fueled most recently by major inflows into the funds as bitcoin (BTC) rallies into the election, the ETFs, which only opened for business on Jan. 11 of this year, currently hold roughly 967,459…
Aptos blockchain platform has made advancements by adding Tether ($USDT), the first Move-powered blockchain supporting $USDT. This integration has led to a substantial increase in the market capitalization of Tether ($USDT) on the Aptos network to nearly $275 million. USDT arrived on Aptos this week, and has been embraced across the entire DeFi ecosystem 🌐A look at the network by the numbers 🔢✔️ 33M transactions processed✔️ ~4M active users—pushing monthly actives past 8MHere’s your roundup of DeFi news & happenings this week ICYMI 🧵 — Aptos (@Aptos) November 2, 2024 Aptos recorded over 33 million transactions, almost 4 million active…
Japan Prime Minister Shigeru Ishiba promises to include discussions of tax cut proposals from the opposition party in his economic stimulus package, involving tax cuts for gasoline and crypto assets. According to a Bloomberg report published on Nov. 20, Ishiba received the green light for his economic stimulus package after vowing to include annual tax reform proposals from the opposition party, the Democratic Party for the People. The main parties also agreed to raise the budget to fund the stimulus package by the end of December. The economic stimulus package is scheduled to come out this week. Makoto Hamaguchi, a…
GMX, a decentralized trading platform, is gaining attention for its low transaction fees and the ability to leverage trades up to 30 times. This innovative platform supports both spot and perpetual contract trading, appealing to a wide range of users in the cryptocurrency market. Contents hide 1 What Is GMX Coin (GMX)? 2 How Does GMX Work? What Is GMX Coin (GMX)? Launched in September 2021 on the Arbitrum network, GMX later expanded to Avalanche in early 2022. The platform operates through a unique multi-asset liquidity pool that generates rewards from various sources, including market making, exchange fees, and leveraged…
New short-term investors could be the next market’s catalyst for Bitcoin’s anticipated breakout. Data from CryptoQuant shows that UTXOs under 6 months have stopped declining and are now in a parallel line, with only about 8% of investors out of the money. Historical data indicates that Bitcoin rallies significantly once the UTXOs under 6 months stop dropping. BTC is showing signs of an imminent breakout. Data suggests that new short-term investors are what the market needs to begin rallying to new highs as the asset moves closer to its all-time high price. New short-term investors may propel the next Bitcoin…
The Solana decentralized ecosystem (DeFi) is growing: Sky—formerly known as MakerDAO—has put its new stablecoin on the crypto network. According to Sky, the token, USDS, will be the DeFi-native stablecoin on Solana. Sky’s USDS stablecoin was launched in September. Sky runs on Ethereum and is one of the oldest DeFi projects in the space. USDS replaced DAI, the long-running Ethereum stablecoin; DAI holders were able to upgrade to USDS as of September. USDS is live on @Solana. As the first major DeFi-native stablecoin on Solana, USDS unlocks new opportunities for lending, borrowing and trading across the ecosystem’s top DeFi platforms.…
The idea of the Dogecoin community to promote DOGE and expand the range of its utility cases continues to thrive. The main trigger for it was Elon Musk integrating his favorite meme cryptocurrency as a payment option with Tesla and SpaceX. Dogecoin creator says “yes” to paying for X merch with DOGE Now, the Dogecoin community has supported an idea of using DOGE as payment for X merch if such merch is ever sold by the social media giant that belongs to Elon Musk. The idea was suggested by a DOGE enthusiast on X @dogeofficialceo. Billy Markus, known on social…
Switzerland’s Financial Market Supervisory Authority has warned about the risks of money laundering associated with cryptocurrencies. In its 2024 Risk Monitor report, the regulator noted that cryptocurrencies, including stablecoins, are increasingly used for cyberattacks, payments for illegal dark web activities, and evading sanctions linked to geopolitical conflicts. Particularly, stablecoins have seen a “big rise” in illicit transactions related to sanction evasions, further complicating anti-money laundering efforts. To combat money laundering risks, FINMA outlined its broader efforts, including onsite reviews, an overhaul of its audit program, and a focus on risk tolerance and management for entities with politically exposed customers or…