| |

X plans to launch payment service in 2024

Byadmin

The richest man in the world, Elon Musk, again discussed his plans to transform X (formerly Twitter) into a full-fledged financial platform, setting a timeline until the end of 2024 to achieve this goal. This has led many in the crypto community, specifically the DOGE community, to speculate about what this move could mean for…

| | |

Ten decentralized finance protocols govern over 52% of WBTC in circulation

Byadmin

As of October 22, 2023, there are 79,839 individual wallets containing WBTC, a token pegged 1:1 to Bitcoin (BTC). WBTC tokens in circulation total 163,006, valuing the project at $4.88 billion. Since December 17, 2022, there has been a 12.31% reduction in the circulating supply of WBTC, from 185,909 WBTC to the current 163,006 WBTC….

| |

Bitcoin (BTC) Price Surpasses $30,000 as Dominance Returns to Multi-Year High

Byadmin

Bitcoin (BTC) price has retested the $30,000 price level following its sustained resurgence the previous week. Bitcoin is trading at a market capitalization of $30,135, up 1.47% at the time of writing. This growth highlights the performance of the main currency in the following week period, in which it jumped 11.91%. Bitcoin dominance hits 3-year…

|

Ethereum Spot ETF Guaranteed If Bitcoin Approved

Byadmin

While all eyes are on the bitcoin spot ETF, Invesco and Galaxy Digital have amended their application for an ethereum spot ETF. The ETFs were first introduced in September, joining ARK Invest, VanEck, Grayscale and Hashdex, but were modified following the approval of Ethereum futures ETFs. The decision earlier this month by the Security and…

| |

More than 100 Binance accounts closed by Israeli authorities on suspicion of facilitating Hamas financing

Byadmin

Binance, the world’s leading cryptocurrency exchange, has reportedly closed more than 100 accounts in response to the deadly Hamas attack on Israel earlier this month. According to a recent Financial Times report, which cited “people directly familiar with Israeli police actions,” Israeli law enforcement agencies ordered shutdowns and confiscated millions of cryptocurrencies in an effort…

|

Binance Launches Copy Trading Feature, Allowing Users to Duplicate Strategies of Experienced Traders

Byadmin

Binance has launched a new “copy trade” feature that gives its users the ability to replicate strategies employed by top cryptocurrency futures traders. “Copy traders” can now imitate the real-time futures trading strategies of “lead traders,” according to a new exchange announcement. Copy traders will be able to review the performance metrics of top traders…

|

Bitcoin Dominance Level Now Above 50% as Altcoins Underperform

Byadmin

Bitcoin market dominance now at 50.3% Bitcoin, the world’s leading cryptocurrency by market capitalization, has seen its market dominance increase in recent years. BTC market dominance now stands at 50.3%, a three-month high for the cryptocurrency. The latest cryptocurrency news comes at a time when Ether and other major cryptocurrencies have underperformed in recent days….

| | |

Custodia Bank Goes Live: Merging Digital Assets with US Dollar Payments

Byadmin

Banco Custodia is now available, a financial institution that aims to link digital assets to the payment system in US dollars. Last month, Custody began serving external business clients in select US states, offering US dollar deposits and government money market fund services, with bitcoin custody pending launch. The launch comes after overcoming regulatory pressures…

| | | |

Bitcoin and NASDAQ composite index correlation drops to 2-year low

Byadmin

New data from Kaiko on July 11 indicates that the correlation between Bitcoin and the Nasdaq Composite Index is at a two-year low. The correlation coefficient between these two assets dropped to less than 1% in early July. At that level, it’s at the lows of July 2021. The NASDAQ Composite Index tracks the performance…