News – Page 32

Spot Bitcoin ETFs Take Center Stage in South Korean Election Campaign: Report

The Democratic Party of South Korea is advocating for allowing local citizens to invest in spot Bitcoin ETFs and for financial institutions to launch such investment vehicles. The party is also offering tax exemptions for financial profits of up to two million Korean won (worth nearly $1,497) The People Power Party, which currently holds power in South Korea, was reported to be exploring options to allow spot BitcoinETFs as part of its campaign pledges for the upcoming general election in April, deviating from its previously stance.

Source: Chayanika Deka, 2024-02-21; https://cryptopotato.com/spot-bitcoin-etfs-take-center-stage-in-south-korean-election-campaign-report/

Here’s the New SEC Deadline for BlackRock’s Spot Ethereum ETF

The Securities and Exchange Commission (SEC) has postponed its ruling on BlackRock’s request to introduce a spot Ethereum ETF until March. The decision was initially scheduled for January 25, but has been deferred to March 10, 2024. The delayed decision follows the recent approval by the SEC of nearly a dozen spot Bitcoin ETFs. BlackRock’s CEO, Larry Fink, emphasized that the approval of such funds represents significant steps toward tokenization. He said in a CNBC interview that he sees the value he sees in having an Ethereum ETF.

Source: Wayne Jones, 2024-01-26; https://cryptopotato.com/heres-the-new-sec-deadline-for-blackrocks-spot-ethereum-etf/

Bitcoin Pushes Above $42K as Grayscale Outflows Slow

Around 134,000 BTC has been bought by the nine newly launched funds since Jan. 11. Meanwhile, Bitcoin’s price is pushing above $42K. This stash is currently valued at around $5.6 billion. BlackRock and Fidelity have been the biggest purchasers of Bitcoin. Ark 21Shares is the third largest buyer of Bitcoin with 13,285 BTC purchased worth $555 million, followed by Bitwise with 12,840 coins worth $536 million. GBTC holders have been dumping shares and rebalancing their portfolios.

Source: Martin Young, 2024-01-29; https://cryptopotato.com/bitcoin-pushes-above-42k-as-grayscale-outflows-slow/

What’s Next for XRP Following the Rollercoaster Above $0.6? (Ripple Price Analysis)

Ripple’s recent price movement has been marked by extreme volatility, particularly following a breakout above the upper trendline of a sideways triangle pattern. The price extended its upward movement towards the significant resistance level of $0.66, raising expectations for a potential breakout. However, upon reaching the decisive $ 0.66 region, increased selling pressure emerged, resulting in a notable rejection that pushed the price back within the confines of the broken triangle. This led to heightened volatility around the significant support region of the 100-day moving average, with notable fluctuations occurring around this critical threshol.

Source: CryptoVizArt, 2024-03-07; https://cryptopotato.com/whats-next-for-xrp-following-the-rollercoaster-above-0-6-ripple-price-analysis/

Will ETH Reach $4K This Week or Are Bears Preparing a Correction? (Ethereum Price Analysis)

Einstein is approaching its all-time high aggressively, with the price on an almost vertical rise. On the daily chart, the price has been blowing past several resistance levels since rebounding from the $2,200 level at the beginning of February. The market is currently testing the $3,500 resistance level and is yet to break to the upside definitively. Meanwhile, the Relative Strength Index demonstrates a clear overbought signal pointing to a potential consolidation or pullback in the coming days.

Source: CryptoVizArt, 2024-03-05; https://cryptopotato.com/will-eth-reach-4k-this-week-or-are-bears-preparing-a-correction-ethereum-price-analysis/

Bitcoin (BTC) Addresses in Loss Plumment to Historic Loss; But There’s a Catch

Bitcoin rallied past $63,000 this week before retreating to around $62,000. Over the past month, the asset has recorded an impressive 46% gain. Despite the massive bullish momentum, the chances of correction depict a cautionary tale. The latest surge in the price of the leading crypto asset has propelled a significant number of Bitcoin addresses into profitable territory, marking a historic low for addresses in loss. During bullish phases, the majority of Bitcoin’s circulating supply sits in unrealized profit while losses are minimized. During bearish periods, the circulating supply tends to suffer from unrealized losses.

Source: Chayanika Deka, 2024-03-02; https://cryptopotato.com/bitcoin-btc-addresses-in-loss-plumment-to-historic-loss-but-theres-a-catch/

7 Best Avalanche (AVAX) Wallets: The Complete Guide for 2024

Avalanche is a powerhouse in the cryptocurrency field, known for targeting and serving retailers, newcomers, institutions, and pretty much everyone interested in the industry. It doesn’t matter what category you fall in – from a seasoned veteran to someone who’s just venturing into the field of crypto for the very first time – you need a proper wallet. It should be tailored to your needs and allow you to securely store your AVAX. The following will guide you through the best Avalanche wallets in 2024.

Source: Jose Oramas, 2024-02-22; https://cryptopotato.com/best-avalanche-wallets/

Ethereum’s Layer 2 TVL Nears $30 Billion as ETH-Related Tokens Surge

Ether is up more than 10% over the last week to trade at $3,254, a new multi-month high. The Ethereum L2 TVL has also seen , reaching a new peak of $29.60 billion. Arbitrum takes the lead with 45.18% of the total TVL, representing $13.37 billion, followed by OP Mainnet at 25.55% or $7.56 billion. Other notable ones were Manta Pacific at $1.89 billion, Starknet at $ 1.38 billion, and Base at $929 million.

Source: Wayne Jones, 2024-02-28; https://cryptopotato.com/ethereums-layer-2-tvl-nears-30-billion-as-eth-related-tokens-surge/

Bitcoin Explodes 11% Weekly but the Chances of a Correction Increase: BTC Price Analysis

Bitcoin’s price is finally showing signs of breaking the previous all-time high to the upside. The psychological resistance levels of $70K and $80K might be the upcoming targets for BTC in the coming months. Yet, the Relative Strength Index displays a clear overbought signal, which can point to a potential correction or consolidation in the short term.. The price is gradually climbing above the $69K resistance level, and a longer-term rally might soon begin. The road ahead might get bu

Source: CryptoVizArt, 2024-03-11; https://cryptopotato.com/bitcoin-explodes-11-weekly-but-the-chances-of-a-correction-increase-btc-price-analysis/

BlackRock Bitcoin ETF Soars to Top 5 in Inflows for 2024

The BlackRock iShares Bitcoin Trust (IBIT) has emerged as a leading exchange-traded fund (ETF) in 2024. The ETF has surpassed the performance of numerous well-established funds after achieving over $3.19 billion in flows. Despite a delayed start on NASDAQ due to awaiting SEC approval, the BlackRock ETF is now in the top 0.16% of the 3,109 ETFs trading in the United States. Further analysis by Eric Balchunas suggests an even more impressive standing at 0.02% when comparing BlackRock’s ETF performance against an estimated 10,000 ETFs globally.

Source: Wayne Jones, 2024-02-08; https://cryptopotato.com/blackrock-bitcoin-etf-soars-to-top-5-in-inflows-for-2024/

Archives