Markets

The US Securities and Exchange Commission finally greenlighted a spot Bitcoin ETF earlier this week, although in a slightly reluctant fashion. Now, speculations are starting to arise on when the agency will do the same in terms of an exchange-traded fund tracking the performance of the second-largest cryptocurrency. When ETH ETF? 2023 will go down in history as the year with the most news and developments in terms of ETFs as numerous companies filed for such products for BTC...

The highly volatile moves after the approval of the first US spot Bitcoin ETFs continued in the past 24 hours, with a massive dump to under $41,600. The altcoins have suffered just as badly, with SOL, ADA, AVAX, and others slumping by more than 5-6% in the same timeframe. BTC’s Volatility Returns Bitcoin and the entire cryptocurrency industry had a very eventful week, in which the US SEC was expected to approve the first spot BTC ETFs in the country. While that indeed...

Bitcoin plummeted 10% below $42,000 on Friday, triggering $338 million worth of crypto market liquidations. The collapse erased most of the asset’s progress over the past month leading up to the approval of several Bitcoin spot ETFs for public trading in the United States. According to Coinglass, over 101,000 crypto traders have been liquidated in the past 24 hours. The largest individual liquidation took place on a Bybit BTC/USD trade for $4.5 million. Most liquidations...

Crypto firms faced substantial regulatory action, collectively paying nearly $6 billion in fines primarily due to Anti-Money Laundering (AML) violations and deficiencies in customer checks last year. This marks a significant development, as crypto and fintech groups experienced higher fines for inadequate controls than the entire traditional financial system for the first time. Crypto-Related Fines Surge The total fines of $5.8 billion in 2023, including a substantial $4.3...

After a challenging decade of attempts, the US Securities and Exchange Commission (SEC) finally approved spot Bitcoin ETFs. These products enable retail customers and traditional financial institutions to access Bitcoin’s price through standard brokerage apps without relying on crypto exchanges. This excitement is being reflected in the prices of altcoins as data indicates a notable influx of capital into the crypto market. Spot Bitcoin ETF Frenzy Boosts Capital Inflow At the...

Gary Gensler, the Chair of the US Securities and Exchange (SEC), issued cautionary statements to the crypto sector, raising uncertainty about the possibility of the Ether obtaining approval for an ETF similar to Bitcoin. But this has not stopped Ether from surging, which has reached its highest point since May 2022. Perhaps unexpectedly, the approval of 11 Bitcoin ETF proposals was also followed by the growth of Ethereum-based projects. Ethereum-Based Projects Shine According...

TL;DR Shiba Inu’s burn rate has significantly increased, contributing to a reduction in SHIB’s circulating supply. The price of Shiba Inu has shown an uptrend, with a 5% increase on a weekly basis. The development of the layer-2 blockchain solution Shibarium is also worth observing. The Latest Burn The second-largest memecoin by market capitalization – Shiba Inu – witnessed a burn rate spike of approximately 400% in the past 24 hours. This resulted in over 16.5 million...

What a week… The United States Securities and Exchange Commission finally greenlighted a spot Bitcoin Exchange-Traded Fund (ETF). Those of you who’ve been following the industry for many years know that this has been one of the most highly-anticipated moments, and it’s absolutely monumental how far the industry has come in 2024. But the process itself was particularly scuffed, to say the least. First, the SEC’s X account was compromised, and the attacker tweeted (falsely)...

Being the third lowest performer by trading volume among the 11 spot Bitcoin ETFs that debuted on Thursday, Valkyrie’s spot Bitcoin ETF garnered just under $9 million in trading volume during the day. CoinShares International Limited, a leading player in the European digital asset industry, announced today that it has exercised its option to acquire Valkyrie Funds. This strategic move comes in the wake of the U.S. Securities and Exchange Commission’s (SEC) approval for Valkyrie’s spot...

As Coinbase has pointed out,  fiat transfer fees can get as high as 3% to 6%. Through this partnership with Yellow Card, users will pay a maximum of 2% for each transaction. One of the benefits of cryptocurrency and blockchain being such barrier-breaking concepts is that people from all over the world can gain access to them. As such, projects and companies in the blockchain space often find themselves serving an international audience with all sorts of needs. Now, Coinbase, one of the...