Author: NBTC
Over 650,000 units of staked Ethereum, valued at approximately $1.6 billion, were redeemed last week—the largest amount of redemption since the Shanghai Upgrade was completed last year. A Dune Analytics dashboard shared by Tom Wan, an analyst at 21 Shares, showed that the bankrupt crypto lender Celsius and staking service provider Figment were the primary contributors to this substantial redemption surge. Together, they orchestrated withdrawals totaling 563,300 staked ETH, constituting an impressive 85% of the total redemptions during the reporting period. CryptoSlate highlighted these firms’ role in pushing Ethereum’s validator exits to a record high of over 16,000 validators on…
In a recent podcast conversation between Ark Invest CEO Catherine Wood and Ophelia Snyder, co-founder of 21Shares, the duo discussed their partnership and shared insights into the crypto realm. Why ARK & 21Shares? ARK’s been on the forefront of crypto research since 2014 & was the first fund manager to gain exposure to bitcoin in 2015. 21Shares is the world’s largest crypto ETP provider. We know bitcoin & we’re just getting started.Prospectus: https://t.co/EBHc309WuF — ARK Invest (@ARKInvest) January 21, 2024 Snyder expressed her excitement about bringing the ARK 21Shares Bitcoin ETF (ARKB) to the market. She emphasized how this venture…
Dogecoin (DOGE), once celebrated for its unexpected rise from a meme to a major digital asset, has fallen out of the top 10 cryptocurrencies by market capitalization. This development comes as Chainlink (LINK) ascends into the top 10, reflecting a dynamic and ever-changing landscape within the digital currency space. The latest rankings show Bitcoin (BTC) and Ethereum (ETH) continuing to lead the pack, with Chainlink (LINK) securing its position at the tenth spot, leaving Dogecoin to adjust to its new standing just outside this elite group. Chainlink breaks into the top 10 The reordering of positions within the top 10…
Bitcoin’s move above $50,000 on Monday brought windfall gains to holders of the Yes side of Polymarket’s now-expired “Will BTC hit $50,000 in February?” contract. Pseudonymous trader u/MeLLoN98 made 550% and is now betting on the bitcoin price reaching a record high by the end of the first quarter. Gone are the days when making big money in the crypto market required taking directional bets in the spot or futures markets or setting up complex decentralized finance strategies. Some traders are now generating market-beating returns through the decentralized prediction platform Polymarket. A recent example: The pseudonymous u/MeLLoN98, a core contributor…
One of the most controversial expectations in the cryptocurrency market is known as “the flippening.” The flippening is the forecast of Ethereum (ETH) surpassing Bitcoin (BTC) in market capitalization, which is both praised and criticized. Interestingly, QCP Capital foresees Ethereum outperforming Bitcoin in price appreciation in 2024, according to a January 17 market update. The trading firm specializing in digital assets and cryptocurrencies shared the report on a Telegram group with 11,000 subscribers. Despite not mentioning a ‘flippening,’ QCP Capital mentioned the positive results of a previous report on ETH paired against BTC. Moreover, the trading firm forecasts Ethereum to…
India has surpassed Hong Kong in stock market value, based on data compiled by Bloomberg. The report suggests that its growth potential and policy reforms have increasingly attracted investors. The total value of shares on Indian exchanges hit $4.33 trillion at Monday’s close, edging out Hong Kong’s $4.29 trillion. November-end data by the World Federation of Exchanges placed India in seventh place when it briefly surpassed Hong Kong. India becomes a $4.33T share market As per Bloomberg, the market capitalization of India’s stock market first exceeded $4 trillion on December 5, with approximately half of this growth occurring in the…
Grok, an AI chatbot developed by tech entrepreneur Elon Musk, highlights three reasons why the Shiba Inu community is the best in crypto. The dedication of Shibarium community members cannot be overemphasized as they continue to play pivotal roles in driving the widespread adoption of Shiba Inu-related projects. Based on members’ dedication, many consider the Shiba Inu community to be the most vibrant and supportive within the crypto space. 3 Reasons Why Shiba Inu Community Is the Best Grok, an AI chatbot developed by American businessman Elon Musk, highlighted three reasons why the Shibarium community is considered to be the…
Bitcoin exceeded $50,000 as it continued its strong rise that started last week. While this rise in BTC caused investors’ risk appetite to increase, Deribit data revealed that investors expected a new ATH in Bitcoin. According to Deribit data, there have been serious purchases in options priced at $65,000, $70,000 and $75,000 in recent days. It was stated that call options at this level indicate that investors have bullish expectations, while bulk call options at high levels reflect the upward trend among experienced investors. Speaking to Coindesk at this point, Galaxy America Sales Manager Kelly Greer stated that they see…
Ethereum, the second-largest cryptocurrency by market capitalization, has exhibited a notable bullish trend since the second week of January. This period coincided with the much-anticipated approval of the Spot Bitcoin ETF, a development that significantly contributed to Ethereum’s price surge from $2,170 to $2,714. In contrast, Bitcoin displayed continued volatility during this period. As previously reported by Coingape, there was a substantial increase in whale accumulation for Ethereum in December 2023. This trend suggests that ‘smart money’ investors showed a greater inclination towards Ethereum over Bitcoin, despite a historical milestone. Will Bitcoin continue to rise as Ethereum ETF could be…
Financial technology company Figure Technologies is seeking approval from US regulators to introduce an interest-bearing stablecoin. Founded by former SoFi Technologies CEO Mike Cagney, if successful, Figure will become the first company to offer a stablecoin regulated as a security within the United States, Bloomberg reported Monday. In October, Figure filed a draft registration statement with the Securities and Exchange Commission (SEC) under the subsidiary name Figure Certificate Co. The registration filing reveals that Figure plans to register the stablecoin as “face-amount certificates,” a type of fixed-income security, and intends to issue it using blockchain technology. Upon approval, the stablecoin…