The Ultimate Comprehensive and Up-to-Date Source to Master the Crypto Markets:
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Bitwise Launches Solana ETP in Europe
Dec 18, 2024 | 05:30 amBitwise expands its suite of crypto staking solutions with the launch of a solana staking exchange-traded product (ETP). Solana ETP Launched in Europe While Bitwise U.S. Solana ETF Stalls Bitwise, a crypto asset management firm has introduced a Solana staking exchange-traded product (ETP) in Europe with the ticker BSOL. This comes less than a month […]
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Latam Insights Encore: El Salvador’s $3 Trillion Gold Stash Will Be Catalyst for a Bitcoin-Centric Future
Dec 18, 2024 | 04:30 amWelcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. This edition examines how El Salvador might leverage its newfound gold reserves to increase its bitcoin stash, becoming richer in just one trade. Latam Insights Encore: El Salvador Might Follow Michael Saylor’s Playbook, Using Gold […]
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SFC Approves Four VATPs and Outlines Licensing Conditions After Inspections
Dec 18, 2024 | 03:58 amThe Securities and Futures Commission (SFC) has granted licences to four virtual asset trading platforms (VATPs) under its expedited licensing process. The development follows the completion of risk-based on-site inspections for deemed-to-be-licensed VATP applicants, a programme introduced in June 2024.VATPs Licensed with Restricted ScopeAlong with the three previously approved providers, the Hong Kong SFC has granted licences to four additional VATP providers: Hong Kong Digital Asset EX Limited, Accumulus GBA Technology Co., Limited, DFX Labs Company Limited, and Thousand Whales Technology.The licensed VATPs will operate with a restricted business scope until they address the issues raised during the SFC’s inspections. They must also conduct a vulnerability assessment and penetration test, with satisfactory results from an independent third party.“We have been proactively engaging with VATPs’ senior management and ultimate controllers which helps drive home our expected regulatory standards and expedite our licensing process for VATPs,” said Eric Yip, the SFC’s Executive Director of Intermediaries. “We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.”In addition to the three already approved, the Hong Kong SFC today added four newly approved virtual asset VATP providers, namely Hong Kong Digital Asset EX Limited, Accumulus GBA Technology (Hongkong) Co., Limited, DFX Labs Company Limited, and Thousand Whales Technology (BVI).…— Wu Blockchain (@WuBlockchain) December 18, 2024SFC Issues Circular on LicensingThe SFC will oversee the second-phase assessment of VATPs in collaboration with the platforms and their external assessors. Restrictions on business scope will be lifted after the SFC is satisfied with the second-phase assessment results.A circular issued today (Wednesday) outlines the licensing process and offers further guidance on the second-phase assessment. This article was written by Tareq Sikder at www.financemagnates.com.
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Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global
Dec 18, 2024 | 03:30 amCoinbase has thrown a legal argument against a lawsuit from Bit Global Digital Limited, which aims to overturn Coinbase’s choice to drop wrapped bitcoin (WBTC) from its exchange. Coinbase Defends Its Decision to Delist WBTC In a court filing submitted on Tuesday, Coinbase defended its action, claiming it was a necessary step to shield its […]
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Trump Delivers Speech at Washington Crypto Policy Summit
Dec 18, 2024 | 02:30 amPresident Trump’s speech re-echoed his openness to engage in key crypto policy to position the U.S. as a global crypto powerhouse. U.S. Government Wants to Lead the Way on Bitcoin Donald Trump, incoming U.S. president delivered a goodwill speech at the crypto policy summit in Washington organized by the Blockchain Association. In his speech, Trump […]
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Bitcoin Soars to $105K as BlackRock Recommends 2% Portfolio Allocation
Dec 18, 2024 | 02:14 amBlackRock, the global asset management firm, has suggested that investors allocate up to 2% of their portfolios to bitcoin. The recommendation was included in a report, which highlights bitcoin's potential as a diversifying asset, given its historically lower correlation with other major asset classes.As of now, bitcoin (BTCUSD) is trading at an all-time high of approximately $105,000. BlackRock emphasized that bitcoin could provide an alternative source of returns within a portfolio. However, the firm warned of significant risks associated with the cryptocurrency.Bitcoin ETFs Attract $100 Billion"Bitcoin remains highly volatile and vulnerable to sharp selloffs," the report noted. It also stated that bitcoin’s returns have, at times, moved in tandem with risk assets like stocks, limiting its effectiveness as a hedge.The report follows the successful launch of bitcoin-related exchange-traded products earlier this year. These products collectively attracted over $100 billion in assets, according to data from VettaFi. BlackRock’s iShares Bitcoin Trust accounted for $51.1 billion of these assets, leading the market.🇺🇸 $10 TRILLION BlackRock just suggested allocating 2% of the portfolio in #Bitcoin 🤯THIS IS MASSIVE! 🚀 pic.twitter.com/aAbhYKUVOp— Vivek⚡️ (@Vivek4real_) December 12, 2024Bitcoin Surges Toward $105KBTCUSD reached $100,000 and then consolidated for a while. The daily chart shows a bullish breakout, with the price now heading toward $105,000, fuelled by strong bullish momentum. As of writing, the cryptocurrency is trading well above $100,000, even during the holiday season, approaching new highs.Bitcoin Draws Comparisons to TechBlackRock based its recommendation on how bitcoin influences overall portfolio risk. While bitcoin is viewed as a unique asset, BlackRock compared its impact to that of large technology companies like Nvidia. The report noted that these companies have an average market capitalization of $2.5 trillion, comparable to bitcoin's $2 trillion valuation.BlackRock cautioned against exceeding the 2% allocation threshold, stating that bitcoin’s contribution to portfolio risk would become disproportionately large beyond this level. The report also stressed the importance of monitoring bitcoin's evolving characteristics, including its adoption rate, correlation with equities, and volatility. This article was written by Tareq Sikder at www.financemagnates.com.
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Why Gen Z Treats Bitcoin Like Air Fryers - And Why It's Terryfing
Dec 18, 2024 | 01:57 amA concerning trend has emerged among young UK investors who are making crucial financial decisions at an alarming speed, with two-thirds finalizing important investment choices in less than 24 hours.Moreover, according to the country’s market watchdog, they fail to see the difference between purchasing a hyped air fryer or smartwatch and buying Bitcoin or another trading product.Young Investors Rush Investment Decisions, FCA Study WarnsThe Financial Conduct Authority's (FCA’s) survey of 2,000 UK investors aged 18-40 reveals a striking pattern of rapid-fire investment decisions. A significant 14% of respondents make investment choices in under an hour, while only 11% take more than a week to evaluate opportunities.The digital landscape heavily influences modern investment behavior. An overwhelming 85% of young investors acknowledge the significant impact of platforms like Instagram, TikTok, and YouTube on their investment decisions. More notably, 43% rely on these platforms as their primary research tool.“If you’re considering investing, the very first investment you should make is some of your own time,” Lucy Castledine, Director of Consumer Investments at the FCA, commented. “It's important to look beyond the hype, especially on social media, and do your research to make sure what you're investing in fits with your financial goals. Check out our 5 tips to InvestSmart.”Finfluencers Became New Investment AdvisersA recent study by Barclays confirms the FCA findings that almost 50% of UK investors relying on social media for financial guidance. However, they may be exposing themselves to risk by neglecting to verify the credibility of financial influencers, often referred to as "finfluencers."“As more people turn to social media for investment guidance, there is a clear demand for platforms to improve transparency around finfluencers' credentials,” commented Sasha Wiggins, CEO at Barclays Private Bank and Wealth Management. “This is crucial in tackling the threat of investment scams and preventing people from acting on unsuitable advice.”These findings align with previous reports on the growing reliance on social media for investment decisions. In April, CMC Markets reported that one in three retail traders trust financial influencers more than their own family or friends. Similarly, a study in Germany revealed that over half of young investors purchased trading products through influencer links, prioritizing social media personas over professional financial advisors.Consumer PsychologyThe fear of missing out drives 51% of young investors to invest more than initially planned. The average spend on hyped investment products reaches £550, with 40% of investors later expressing regret over their decisions.“This important and timely research illustrates the worrying influence that hype and online trends are having on people’s decision making,” added Steve Martin, a behavioral scientist at Columbia Business School and the CEO of Influence At Work, added.“Playing to people’s fear of missing out (FOMO) is a deliberate ploy designed to increase the attractiveness of a product. Less of an issue if the item is a low-cost consumer product. But spontaneous and hasty decisions about financial investments are concerning due to the risk of potentially regrettable and long-term implications.”Investment patterns mirror viral consumer behavior, with cryptocurrency ranking fourth among trending purchases at 27%, following air fryers (42%), smart watches (32%), and energy drinks (32%). This article was written by Damian Chmiel at www.financemagnates.com.
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Oh Whale Launches Presale – A New Era of Blockchain-Driven Ocean Conservation
Dec 18, 2024 | 01:00 amPRESS RELEASE. Innovative Crypto Project Aims to Revolutionize Whale and Ocean Conservation with Community-Driven Funding and Real Utility The world of cryptocurrency is no stranger to bold promises, but Oh Whale stands apart by merging blockchain technology with a mission for real-world impact. The project has officially launched its presale, offering early supporters a chance […]
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Lido Ends Staking on Polygon; Refocuses on Ethereum
Dec 18, 2024 | 00:30 amThe Lido community has voted to end staking services on Polygon, due to significant challenges that has limited adoption. Lido Shuts Down Polygon Staking Lido Finance has announced it will be effectively discontinuing its staking service on Polygon. According to a Dec. 16 blogpost, the decision was reached after an extensive decentralized autonomous organization (DAO) […]
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These Two Bitcoin Miners from Wall Street Secure Major Financing as BTC Hits $108K
Dec 18, 2024 | 00:10 amLeading US publicly-listed Bitcoin (BTC) miners from Wall Street are strengthening their financial positions through significant capital raises as Bitcoin trades above $108,000. Industry heavyweights CleanSpark (NASDAQ: CLSK) and Bitfarms (NASDAQ: BITF) announced major financial moves to fuel their expansion plans.CleanSpark Raises $650 Million in Zero-Coupon Note SaleCleanSpark has secured a landmark $650 million zero-coupon convertible senior notes offering, implementing financial engineering to protect shareholder interests.https://t.co/eGYTK4x5eS— CleanSpark Inc. (@CleanSpark_Inc) December 17, 2024The company structured the deal with capped call transactions at $24.66 per share, representing a 100% premium over its closing price. To further enhance shareholder value, CleanSpark executed a share repurchase program, buying back 11.76 million shares for approximately $145 million."We are proud to have closed this offering with some of the strongest institutional investors in the world and are excited to share that our growth through 50 EH/s and beyond is now expected to be more than fully funded from the proceeds," said Zach Bradford, CEO and President. "In addition to funding the growth to 50 EH/s, share buyback, and capped call, the additional capital will allow us to keep adding the bitcoin we mine to our balance sheet.”Bitfarms' Equity Program ProgressBitfarms has taken a different approach to capital raising, filing an updated prospectus supplement for its ongoing at-the-market equity program. The company has already successfully raised $288 million through the distribution of 128.8 million common shares, with $87 million still available under the program. The fresh capital is earmarked for expanding existing mining operations and strengthening working capital positions.In the meantime, another publicly listed Bitcoin miner, Riot Platforms (NASDAQ: RIOT) finalized loan deal to continue its BTC purchasing strategy. The company closed a $594.4 million offering of 0.75% convertible senior notes due in 2030.Strategic Timing Amid Bitcoin's Price DiscoveryThese financial maneuvers come at a crucial moment as Bitcoin enters a new price discovery phase reaching $108,000. Mining companies are capitalizing on favorable market conditions to secure their competitive positions in the evolving digital asset landscape. The timing of these raises reflects the industry's confidence in Bitcoin's long-term prospects and the need for operational scale to maintain profitability in an increasingly competitive mining environment.The results are plain to see. Profits from cryptocurrency mining have just reached a seven-month high, with US-listed companies now controlling nearly 30% of the global network hashrate. However, higher prices also mean increased competition and greater mining difficulty. While BTC continues to rise, miners are able to mine fewer coins with the same computing power. This article was written by Damian Chmiel at www.financemagnates.com.
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ASIC Claims Binance Misclassified 83% of Australian Client Base, Takes It To Court
Dec 17, 2024 | 23:30 pmThe Australian Securities and Investments Commission (ASIC) has launched legal proceedings against Binance Australia Derivatives for allegedly misclassifying over 500 retail investors as wholesale clients, denying them crucial consumer protections.Binance Australia Faces Federal Court Battle The regulator alleges that between July 2022 and April 2023, Binance Australia Derivatives, a subsidiary of the world's largest cryptocurrency exchange, incorrectly classified 83% of its Australian client base as wholesale investors, exposing them to high-risk crypto derivative products without proper safeguards.“Our case alleges Binance’s compliance systems were woefully inadequate and exposed more than 500 clients to high-risk, speculative products without the right consumer protections in place,” said ASIC Deputy Chair Sarah Court."Many of these clients suffered significant financial losses," she added, noting that Binance had already paid approximately $13 million in compensation to affected clients in 2023.The crypto exchange allegedly failed to provide essential consumer protections, including product disclosure statements and access to dispute resolution schemes. ASIC's legal filing outlines multiple compliance failures, including inadequate staff training and failure to ensure services were provided efficiently, honestly, and fairly.More than 500 retail clients of Oztures Trading Pty Ltd, trading as Binance Australia Derivatives, were denied important consumer protections after being misclassified as wholesale clients, ASIC alleges in documents filed in the Federal Court. https://t.co/nw2TxSRR6x pic.twitter.com/Sm9nyBWjjE— ASIC Media (@asicmedia) December 18, 2024In the meantime, ASIC also fined another popular crypto platform operating in the country, Kraken, for offering “unlawful” margin products. Local customers reportedly incurred trading losses of more than $5 million.ASIC Tightens Crypto RegulationsThis legal action comes amid heightened regulatory scrutiny of the digital asset sector in Australia. Earlier this month, ASIC released a consultation paper aimed at providing greater clarity on how financial product definitions apply to digital assets. From November 2024, all crypto exchanges operating in the country are required to have financial licenses.Moreover, a week ago, the market regulator updated its guidelines for financial services firms managing client assets. These updates include stricter requirements for cryptocurrency custody and enhanced oversight of asset management practices.“Many digital assets and related products are financial products under the current law,” Court commented. “We are consulting with the sector to improve regulatory clarity, and ASIC will continue to use the full range of regulatory and enforcement tools to safeguard consumers and uphold market integrity in the digital asset sector.”The case follows ASIC's cancellation of Binance's Australian financial services license in April 2023, after a targeted review of the company's operations revealed significant compliance issues.Binance Australia Derivatives is local brand of the Oztures Trading Pty Ltd in the country. This article was written by Damian Chmiel at www.financemagnates.com.
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French Bybit Users Face Service Shutdown—Withdrawals End in Weeks
Dec 17, 2024 | 22:30 pmCrypto exchange Bybit will cease withdrawal and custody services for French users starting Jan. 8, 2025, citing regulatory changes, urging users to withdraw assets promptly to avoid disruptions. Bybit to End Withdrawals in France Bybit, a global cryptocurrency exchange, has announced it will no longer provide withdrawal and custody services to users in France, starting […]
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Seized Bitcoin Triples in Value, Helping Fraud Victims Recover Losses
Dec 17, 2024 | 20:30 pmLaw enforcement’s swift action seized $900,000 in bitcoin from a Nigerian fraud scheme, and its soaring value may fully reimburse victims of a $1 million scam. Bitcoin Boom: Law Enforcement’s Quick Move Recovers Millions for Scam Victims The U.S. Attorney’s Office for the Western District of Washington announced on Monday that bitcoin seized during a […]
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Pantera Founder Backs Trump’s Bitcoin Reserve Proposal: ‘It’s Actually a Really Good Policy’
Dec 17, 2024 | 18:30 pmPantera Capital founder Dan Morehead backs the U.S. proposal for a strategic bitcoin reserve, urging a pivot from gold to “digital gold” to secure financial leadership. Dan Morehead Champions US Bitcoin Reserve Proposal Dan Morehead, founder and managing partner of hedge fund and venture capital firm Pantera Capital, appeared on CNBC’s ‘Fast Money’ last week […]
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Peanut the Squirrel Owner Vows to Sue Exchanges for Alleged PNUT Trademark Infringement
Dec 17, 2024 | 16:30 pmBinance was the first to receive a cease-and-desist letter from lawyers representing the social media influencer. PNUT Meme Coin Listings Trigger Potential Litigation Mark Longo owner of Peanut – the squirrel that rose to national stardom after it was seized and abruptly euthanized by the New York State Department of Environmental Conservation (NYSDEC) – said […]
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French Regulators Target Unregistered Crypto ATMs Ahead of MiCA Implementation Deadline
Dec 17, 2024 | 11:36 amFrench regulators banned unregistered crypto-asset ATMs operating within the country, targeting businesses that provide illegal digital asset services. The French Financial Markets Authority (AMF) collaborated with the Paris inter-regional jurisdiction (JIRS) to carry out a series of investigations, leading to search and seizure operations in June and December 2024.According to the regulator, the crackdown followed concerns about heightened money laundering and illegal crypto-asset services. With the rise of crypto ATMs that enable users to buy or sell digital assets like Bitcoin using cash, French regulators are doubling down on enforcing strict compliance under the Monetary and Financial Code.Mandatory Registration Under French law, crypto-asset ATMs, which allow transactions between legal tender and digital assets, must register as digital asset service providers. The regulator cited a financial regulation that mandates the registration of crypto ATMs, saying violations will attract severe penalties. Operators acting illegally could face up to two years in prison and fines of up to 30,000 euros.Additionally, the AMF added that service providers have approval under the regulation. It warned that compliance is non-negotiable, especially with the forthcoming implementation of the European MiCA regulation by December 30, 2024.France begins accepting crypto service license applicationsFrance's financial regulator, the Autorité des Marchés Financiers (AMF), is now accepting applications for crypto asset service provider (CASP) licenses, making it the first major EU economy to implement the upcoming…— CoinNess Global (@CoinnessGL) August 2, 2024The AMF’s report triggered an investigation by the JIRS, which reportedly led to two key judicial police operations on June 13 and December 17, 2024. During these operations, authorities targeted multiple unregistered crypto ATMs, executing searches and seizing equipment. The regulator aims to eliminate unauthorized activities that could expose users to financial risks or facilitate illicit transactions. The AMF urged digital asset service providers to comply with existing laws and check its white list of registered operators. Preparing for MiCA Looking ahead, digital asset operators will need to prepare for the European Union’s MiCA regulation, which comes into effect on December 30, 2024. MiCA will establish a harmonized framework for crypto-assets across Europe, ensuring stricter controls and safeguarding users against financial misconduct.Service providers must prioritize legal compliance to operate safely and legally in the French market. The recent enforcement measures serve as a clear warning to those who continue to bypass regulatory requirements. This article was written by Jared Kirui at www.financemagnates.com.
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Why Is Ripple’s XRP Up? Price Prediction as RLUSD Stablecoin Debuts on Global Exchanges
Dec 17, 2024 | 09:35 amAfter much anticipation, Ripple’s stablecoin, Ripple USD (RLUSD), is now live on global exchanges. The listing of the digital asset has caused a surge in the trading volume of the token native to the blockchain XRP.Data from CoinMarketCap shows that XRP’s 24-hour trading volumes soared 80% to $18 billion. At the time of writing, XRP traded at $2.62 with a market capitalization of $149 billion, ranking third behind Bitcoin and Ethereum. In the past day alone, the price has risen nearly 5%, while the gains are more than 25% in the weekly chart. In contrast, Bitcoin and Ethereum have not changed much in the daily chart, trading at $106,895 and $3,945, respectively.Ripple’s New Digital DollarRipple has officially entered the stablecoin market with the launch of its new digital currency, Ripple Dollar (RLUSD). Announced on December 17, RLUSD is now live on major global exchanges. RLUSD seeks to offer cross-border transactions.According to the company, the token is backed by US dollar deposits and government bonds, ensuring stability in an otherwise volatile market. Although RLUSD has not made it to major crypto exchanges, it is reportedly available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans for broader adoption."Ripple USD (RLUSD) is now live on global exchanges. An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency: Instant global payments, 24/7, Seamless on/off ramps, Access value in real-world assets," Ripple wrote.Ripple USD (RLUSD) is now live on global exchanges.An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency:➡️ Instant global payments, 24/7➡️ Seamless on/off ramps➡️ Access value in real-world assets.… pic.twitter.com/lJ43GdoDGR— Ripple (@Ripple) December 17, 2024The stablecoin recently integrated with both the XRPLedger and Ethereum blockchains. Ripple launched RLUSD under the New York Department of Financial Services (NYDFS) limited purpose trust company charter, which is widely regarded as a top regulatory standard.Analysts are now predicting prices will reach as high as $20 in the near term, with the possibility of market capitalization reaching as high as $1 trillion in the second quarter of 2025. One user on X highlighted that the bull market is still at an early stage, and more is yet to come. And for non-traders, you just need to zoom out a little so you don't forget the big picture.Structure on $XRP here looks so freaking clean and bullish, it's actually insane. Forget what happens on these lower timeframes- it's noise (for a non-trader), big picture is… https://t.co/9mBib6ci1u pic.twitter.com/o5ioncxE8h— CrediBULL Crypto (@CredibleCrypto) December 15, 2024Market Volatility This move positions Ripple as a partner for financial institutions, developers, and enterprises seeking to embrace digital assets within regulated frameworks.Interestingly, RLUSD faced volatility even before its official launch despite its backing and stable value proposition. Pre-launch bids for the token experienced unusual spikes, with some investors willing to pay as much as $1,200 for a fraction of the stablecoin.As RLUSD goes live, there may be supply shortages in the very early days before the market stabilizes. There actually is someone willing to pay $1,200/RLUSD for a tiny fraction of one RLUSD. Tools will show you the highest price anyone is willing to pay, even if it's just for a… https://t.co/LOx4rGiiiJ— David "JoelKatz" Schwartz (@JoelKatz) December 15, 2024Ripple has reassured users that these inflated prices are temporary and caused by early speculative interest. David Schwartz, Ripple’s Chief Technology Officer, cautioned against fear of missing out (FOMO) behavior. This article was written by Jared Kirui at www.financemagnates.com.
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Binance Alpha Launches to Showcase Web3 Tokens in Early Development
Dec 17, 2024 | 09:08 amBinance has introduced Binance Alpha, a new feature within Binance Wallet, focusing on early-stage crypto projects in the Web3 ecosystem. The platform highlights tokens with growth potential and serves as a pre-listing token selection pool. Binance Alpha aims to increase transparency in the token evaluation process for Binance Exchange listings. Web3 Tokens Featured on BinanceThe platform does not guarantee that featured tokens will be listed on the Binance Exchange. However, some projects may be considered for future listings. Binance Alpha provides users with information about early-stage tokens that could impact the blockchain and Web3 landscape.Binance Alpha will go live on December 18, 2024. On the launch date, five tokens will be announced. An additional five tokens will be revealed on December 19, with another set of five on December 20. Binance plans further token announcements beyond these dates. Users can follow Binance Wallet’s official X account for updates.Introducing Binance Alpha, a new platform within #Binance Wallet spotlighting early-stage crypto projects with growth potential.Serving as a pre-listing token selection pool, it enhances transparency in the token consideration process for Binance Exchange listings. Launching… pic.twitter.com/1N8BCRfvZc— Binance (@binance) December 17, 2024Quick Buy Optimizes Token TransactionsBinance Alpha features several key functionalities designed to enhance the user experience. The platform showcases tokens gaining traction in the Web3 space, providing users with insights into projects contributing to the evolving crypto landscape.The Quick Buy feature is integrated into Binance Wallet to improve access to tokens. This functionality enhances the existing Swap tool, ensuring better transaction success rates and optimized pricing.🚨 Something Big is Coming… 🚨Be Ready for Binance Alpha! 🚀Launching December 18, 2024, Binance Alpha puts you in the front seat to discover early-stage crypto projects with massive growth potential. 🌱🔍 As a pre-listing token pool, it brings transparency to the token… pic.twitter.com/DN9trGZvd1— $PAYU (@payu_coin) December 17, 2024It includes automatic selection of the native chain’s token, a default trading amount based on wallet holdings, automatic slippage adjustment to improve success rates, and an anti-MEV mechanism to mitigate the effects of MEV on large transactions.Showcasing Tokens Aligned with Market TrendsIn addition to access and transactions, Binance Alpha emphasizes educational insight. The platform allows users to learn about emerging projects, their applications, and trends driving their adoption in the blockchain ecosystem.Tokens featured on Binance Alpha are selected using Binance’s insights and observation tools. While no listings are guaranteed, the platform highlights projects that align with market trends. This article was written by Tareq Sikder at www.financemagnates.com.
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Can Bitcoin Reach $210,000 in 2025? The Role of Corporations and Favorable Regulations
Dec 17, 2024 | 06:12 amThe crypto industry surged significantly in 2024, delivering a high performance that could shape its future. Investors are now looking ahead to 2025 with predictions of Bitcoin hitting $210,000, Solana reaching $1,000, and institutional adoption transforming the industry. The influence of U.S. policy remains significant, with a shift toward more favorable crypto regulation following the Republican electoral sweep. The market also witnessed the surprising dominance of meme coins this year.Bitcoin’s Geopolitical RoleAccording to the latest report by Presto Research, the introduction of the Bitcoin Strategic Reserve Bill further set the stage for the digital asset’s geopolitical role. Analysts now consider scenarios in which nation-states hold BTC as a strategic asset.Meanwhile, meme coins became a defining theme of 2024, spurred by growing disillusionment with VC-backed projects. Retail investors turned to meme coins like PEPE and DOGE, viewing them as a fairer playing field due to their lower inflation and transparent supply.While meme coins are often criticized for their lack of utility, their performance signaled a key shift in market sentiment. Investors rejected hype-driven VC launches in favor of assets that resonated with community-led movements.Stablecoins rebounded strongly in 2024, with their aggregate market cap surging to $200 billion. Analysts predict this figure will climb to $300 billion in 2025, cementing stablecoins as the blockchain’s most successful application. The momentum seen in 2024 has sparked bold predictions for 2025. The research report noted that analysts foresee Bitcoin climbing to $210,000, driven by the MVRV ratio, a valuation metric that measures market value against realized value. Broader corporate adoption, led by MicroStrategy’s success and improved accounting rules, could also drive BTC’s ascent.Meanwhile, Solana’s institutional adoption and network growth have positioned it for explosive gains. Analysts predict SOL could hit $1,000 in 2025, citing the platform’s technological advancements and rising on-chain activity. And geographically, the U.S. is poised to maintain its dominance in the crypto market, fueled by a crypto-friendly political environment under the Trump administration.The Rise of Crypto IndicesThe rise of crypto indices could further boost mainstream adoption in 2025. Similar to the S&P 500 in equities, crypto indexes are expected to provide diversified exposure to investors. These products will simplify entry for new investors, offering sector-based baskets that capture specific market themes.The potential for major crypto firms like Circle, Ripple, and Kraken to go public in 2025 could signal a new phase of growth. IPOs would increase the industry's transparency and attract institutional investors looking for legitimate, regulated entry points.On-chain activity surged in 2024 as users became increasingly wary of centralized exchanges following the FTX collapse. Improved user experience across wallets, trading platforms, and bots also accelerated adoption. This article was written by Jared Kirui at www.financemagnates.com.
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Wall Street Bitcoin Miners Just Made Millions, Profits Hit 7-Month High: Here's How
Dec 17, 2024 | 00:13 amThe crypto mining sector witnessed significant economic improvements in December, with mining profitability reaching its highest levels in seven months. The hashprice, a key metric for daily profitability of the publicly listed Wall Street Bitcoin Miners, increased by 5% since November's end.Wall Street Bitcoin Miners' Profitability Surges amid December RallyDaily block reward revenue has climbed to $57,300 per exahash per second (EH/s) in early December, marking a seven-month peak, though still remaining 40% below pre-halving levels. The network's total hashrate has expanded 6% this month, averaging 773 EH/s.Certainly, the ongoing rally in major cryptocurrencies is not without significance. Bitcoin has climbed 40% since the beginning of November, testing historic highs above $107,000. Meanwhile, altcoins, including the BGB utility token, have surged by 120% this December alone.“We note miners earned about $57,300 in daily block reward revenue per EH/s over the first two weeks of December,” analysts Reginald Smith and Charles Pearce from JPMorgan wrote on Monday.Wall Street Bitcoin miners from the US have significantly strengthened their market position, with their combined hashrate surging 94% year-to-date to 222 EH/s. These miners now control approximately 29% of the global network. However, their aggregate market capitalization experienced a $1.5 billion decline in December's first two weeks.Bitcoin Miners News: Behavior and RevenuesMoreover, Bitcoin miners have substantially reduced their holdings, selling over 140,000 BTC (valued at $13.72 billion) in December. This has decreased their total holdings from 2.08 million to 1.95 million BTC. Despite this significant sell-off, Bitcoin's price has shown resilience, experiencing only minor pullbacks.So far in December, #Bitcoin miners have sold over 140,000 $BTC, totaling $13.72 billion! pic.twitter.com/1g3sCo6uJM— Ali (@ali_charts) December 14, 2024Mining revenue has also reached impressive levels, with daily earnings touching approximately $50 million, the highest since April's peak of nearly $100 million. However, increased mining difficulty, now at 106T compared to April's 85T, has created additional challenges for miners.For example, in November—when Bitcoin was also testing its all-time highs—eight Wall Street miners reported lower BTC production. Although these miners are continually expanding their mining capacity, the increasing difficulty level makes it harder to boost output. The higher the “difficulty” metric, the more computing power is required to extract the same amount of cryptocurrency.Why are Bitcoin miners selling large amounts of BTC in December?The primary driver behind the selling appears to be covering regular operational expenses, including electricity bills and other running costs. The selling has been steady rather than panic-driven, suggesting a calculated approach to maintaining operations.Moreover, with Bitcoin reaching new all-time highs above $107,000, miners are likely capitalizing on favorable market conditions to secure profits. This timing allows them to maximize returns on their mined assets.Not everyone is selling their Bitcoins, though. An increasing number of publicly listed Wall Street Bitcoin miners are choosing to issue bonds or other debt instruments to raise additional funds and build up their BTC reserves. For example, on Monday, Riot Platform purchased an additional 667 BTC at an average price of $101,135. As a result, it now holds 17,429 BTC in its vault.With the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC. As a result, Riot has increased its holdings to 17,429 BTC, currently valued at $1.8 billion based on the… pic.twitter.com/t68Uy8nbHU— Riot Platforms, Inc. (@RiotPlatforms) December 16, 2024By comparison, El Salvador, the first country to make BTC its official legal tender, has accumulated just under 6,000 BTC. This article was written by Damian Chmiel at www.financemagnates.com.
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Forget Bitcoin: This Crypto Exchange Token Jumps 120% in December
Dec 16, 2024 | 23:03 pmCryptocurrency exchange Bitget has secured a Bitcoin Service Provider (BSP) license from El Salvador's Central Reserve Bank, positioning itself for growth in Latin America's burgeoning crypto market. In response to this news, BGB, the platform’s native token, rose by 15% over the past 24 hours, more than doubling its value this month.Bitget Obtains El Salvador Bitcoin LicenseThe regulatory approval allows Bitget to offer comprehensive Bitcoin services, including exchange operations, payment facilitation, and custody solutions in El Salvador, the first country to adopt Bitcoin as a legal tender. The company is also pursuing a Digital Assets Service Provider (DASP) license to expand its cryptocurrency offerings beyond Bitcoin.“Securing the BSP license is a regulatory milestone for Bitget,” said Min Lin, Chief Business Officer at Bitget. “We’re here to fuel the region’s growth by providing secure, accessible, and innovative Bitcoin services. As the world’s interest in crypto accelerates, we see El Salvador as a gateway to unlocking crypto’s potential, enabling financial inclusion, and driving transformative change in real-world use cases.”The exchange plans to establish a dedicated team in El Salvador to strengthen its regional presence and enhance service delivery. This expansion follows Bitget's recent regulatory approvals in European markets, including VASP licenses in Poland and Lithuania, and its recent re-entry into the UK market through a partnership with Archax.BGB Reaches New ATHThe news has catalyzed significant growth in Bitget's native token, BGB, which surged 120% in December alone. The token jumped 11% on Monday and added another 4% following the license announcement, approaching a new all-time high (ATH) of $3.50.Of course, the recent move in Bitcoin, which also tested its all-time high, is a significant factor. During Monday’s session, BTC briefly climbed near $108,000, reacting positively to the Trump administration’s statements about making cryptocurrency part of the country’s strategic reserves.While Bitcoin has gained 10% this December, BGB has surged by 120%, now ranking among the 30 largest cryptocurrencies by market capitalization at $5 billion. BGB, introduced in February 2022, is a relatively new token. As the native utility token of the Bitget exchange, it provides users with fee discounts, access to additional features such as copy trading, and more favorable staking terms.El Salvador President’s $633M Bitcoin CelebrationEl Salvador may not be the largest or wealthiest country in the world, but it was the first to try supporting its strained budget by making BTC legal tender. Although it seems that no one is more enthusiastic about the idea than its creator, President Nayib Bukele, the country’s treasury has continued to invest in BTC.El Salvador now holds nearly 6,000 BTC, and Bukele recently boasted on social media that their total value currently exceeds $633 million.😌 pic.twitter.com/w9FrMmCkwi— Nayib Bukele (@nayibbukele) December 16, 2024For comparison, just a year ago, the same portfolio was worth $200 million less. This article was written by Damian Chmiel at www.financemagnates.com.
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FTX to Distribute Funds to Investors Through Kraken and BitGo, Process to Start in January
Dec 16, 2024 | 11:00 amCollapsed cryptocurrency exchange, FTX will start distributing funds to investors who incurred losses through partner crypto firms, including Kraken and BitGo.The company announced today (Monday) that its court-approved Plan of reorganization will become effective on January 3, 2025. Given the necessary requirements, FTX anticipates the first wave of distributions within 60 days following the effective date.Two-year Recovery ProcessThis initial distribution will reportedly be limited to the plan's convenience classes, with specific records and payment dates for other claim classes set to be announced in the future.For two years, FTX has worked with its team of professionals to recover billions of dollars. John J. Ray III, the CEO of the FTX Debtors, described the process as a success, noting that the distribution process marks the culmination of a long journey.As part of the process, the company has entered into agreements with two major partners, BitGo and Kraken, to handle distribution in supported jurisdictions.The FTX Debtors today announced that the effective date for its Plan of Reorganization has been set for January 3, 2025, which is also the initial distribution record date for holders of allowed claims in the Plan’s Convenience Classes. Read more here: https://t.co/7Hggm5cTlS— FTX (@FTX_Official) December 16, 2024FTX’s choice of Kraken and BitGo as distribution partners highlights the importance of security and trust in the distribution process. Kraken, a US-based cryptocurrency exchange, has been selected to handle retail customer payouts in the U.S. and other supported regions. Kraken and BitGoBitGo, a digital asset custody platform, will also assist FTX in distributing recoveries to both retail and institutional customers. Creditors eligible for the initial distribution will need to complete steps through the FTX Debtors’ customer portal to ensure they are ready for the payouts.This includes verifying their identity and meeting other required conditions to participate in the distribution. FTX also asked customers to take the necessary steps to avoid delays and ensure they can begin receiving their recoveries on time. The firm added that further announcements regarding payment schedules for other claim types will follow in the coming months.BREAKING: A judge sentenced Sam Bankman-Fried to 25 years in prison for orchestrating what prosecutors have called one of the biggest financial frauds in American history. https://t.co/kRbXasrxD1 pic.twitter.com/JBIYKXfmQN— ABC News (@ABC) March 28, 2024In March, Sam Bankman-Fried was sentenced to 25 years in prison after being found guilty of multiple counts of wire fraud and conspiracy that caused the collapse of the crypto exchange and led to billions of dollars in losses to investors. This article was written by Jared Kirui at www.financemagnates.com.
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Bitcoin Miners Expand Holdings: Riot Platforms Finalizes Loan Deal for More BTC
Dec 16, 2024 | 09:34 amAs Bitcoin hits new highs, miners are buying more of the digital asset, hoping for future gains. On Monday, the leading cryptocurrency soared to an all-time price high of $106 and more than $2.1 trillion in market capitalization. Amid the surge, Bitcoin mining firm Riot Platforms obtained new funds to buy more Bitcoins. The company closed a $594.4 million offering of 0.75% convertible senior notes due in 2030. Targeting Institutional InvestorsAccording to a company statement, Riot’s private offering targets qualified institutional buyers and includes $69.4 million worth of notes tied to an initial purchaser option. Net proceeds after costs amount to $579.2 million.Riot has reportedly allocated most of the proceeds to purchasing more Bitcoins. The facility allows conversion into Riot’s common stock, which the firm said will give investors the flexibility to capitalize on the company's future growth.With the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC. As a result, Riot has increased its holdings to 17,429 BTC, currently valued at $1.8 billion based on the… pic.twitter.com/t68Uy8nbHU— Riot Platforms, Inc. (@RiotPlatforms) December 16, 2024“Riot Announces Proposed Private Offering of $500 Million of Convertible Senior Notes. Net proceeds from this offering are to be used primarily to acquire Bitcoin and for general corporate purposes,” Riot announced.More ExpansionPurchasers were also granted an additional $75 million option in notes. Riot, already holding over 10,427 Bitcoins as of Q3, appears to be doubling down on its reserves as it aims to outpace competitors in the mining industry.Riot's focus isn’t limited to Bitcoin alone. In August, the company expanded its stake in Bitfarms, a rival mining company, to over 18%. Riot purchased an additional 1 million shares for $2.28 million, increasing its total holdings to 85.3 million shares.Interestingly, most Bitcoin miners reported a decline in production last month. But despite a 10% year-over-year decline in Riot’s production, the company expanded in other areas, including achieving a total deployed hash rate of 30.8EH/s. Riot’s CEO Jason Les said: “Stability in our production is a reflection of the ongoing operational improvements we continue to make, as demonstrated by our operating hash rate increasing 13% month-over-month compared to a 5% increase in our hash rate capacity.” This article was written by Jared Kirui at www.financemagnates.com.
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Ripple RLUSD Stablecoin Integrates with XRP Ledger and ETH Blockchains
Dec 16, 2024 | 08:42 amRipple has announced that its stablecoin, Ripple USD (RLUSD), will be available on global exchanges starting tomorrow, December 17, 2024. The RLUSD stablecoin is USD-denominated and designed for enterprise use. It is backed by Ripple’s experience in both the cryptocurrency and traditional financial systems. The token will be available on both the XRP Ledger and Ethereum blockchainsRLUSD Launches on Multiple PlatformsInitially, RLUSD will be available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans for additional listings on platforms like Bullish, Bitstamp, Mercado Bitcoin, and others in the coming weeks. Each RLUSD token is backed by US dollar deposits, government bonds, and cash equivalents to ensure stability. Monthly third-party attestations of RLUSD's reserves will be published for transparency.“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide,” said Brad Garlinghouse, Ripple’s CEO. “As the US moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”The wait is over: RLUSD launches globally tomorrow!https://t.co/mYcyyX6Vre— Ripple (@Ripple) December 16, 2024Earlier, Finance Magnates reported that Ripple's USD-pegged stablecoin, RLUSD, received approval from the New York State Department of Financial Services (NYDFS), as confirmed by the company's CEO, Garlinghouse, on social media platform X. RLUSD Supports Payments and CollateralizationRipple aims to leverage RLUSD for global payments, cross-border settlements, and liquidity access for remittances and treasury operations. The token will also facilitate decentralized finance (DeFi) integration and provide a bridge between fiat and cryptocurrency systems. Additionally, RLUSD will support collateralization for tokenized real-world assets like commodities and securities.Ripple Payments will use RLUSD for global payments starting early next year, adding to its existing $70 billion in payment volume.Ripple warned that its stablecoin may face volatility upon launch. David Schwartz, the company’s CTO, cautioned against FOMO and potential supply shortages. His remarks followed reports of high pre-launch bids for RLUSD, the USD-pegged stablecoin. Ripple noted that the volatility, driven by speculation, will subside once the stablecoin reaches supply and demand equilibrium. This article was written by Tareq Sikder at www.financemagnates.com.
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Ripple Warns of Volatility in RLUSD Stablecoin as Pre-Launch Bids Soar
Dec 16, 2024 | 07:27 amA few days after obtaining the approvals in New York, Ripple has warned that its stablecoin might experience volatility when it hits the market. David Schwartz, the company's Chief Technology Officer, also cautioned investors about potential supply shortages while advising against fear-of-missing-out (FOMO) behavior.High Pre-Launch BidsSchwartz's remarks followed reports of unusually high pre-launch bids for RLUSD, the USD-pegged stablecoin designed for Ripple's cross-border payment solutions. Ripple mentioned that the volatility, which hints at heightened speculative interest, will fade. In a post on social media X, it assured users that the stablecoin will stabilize once it achieves equilibrium in supply and demand.As RLUSD goes live, there may be supply shortages in the very early days before the market stabilizes. There actually is someone willing to pay $1,200/RLUSD for a tiny fraction of one RLUSD. Tools will show you the highest price anyone is willing to pay, even if it's just for a… https://t.co/LOx4rGiiiJ— David "JoelKatz" Schwartz (@JoelKatz) December 15, 2024Schwartz explained that pre-market bids were artificially inflating RLUSD's value. One bid valued a fraction of RLUSD at $1,200, well above its intended 1:1 parity with the US dollar. Schwartz attributed this anomaly to early traders seeking the symbolic honor of purchasing the first RLUSD units.“As RLUSD goes live, there may be supply shortages in the very early days before the market stabilizes. There actually is someone willing to pay $1,200/RLUSD for a tiny fraction of one RLUSD,” he wrote. “Tools will show you the highest price anyone is willing to pay, even if it's just for a tiny bit. Maybe someone wants the ‘honor’ of buying the first bit of RLUSD on the DEX.”Regulatory ApprovalsLast week, Ripple secured final approval for RLUSD from the New York Department of Financial Services, after launching the token in October. The company aims to use RLUSD, alongside its XRP token, to enhance cross-border payments and improve liquidity in global markets. The firm announced that exchange and partner listings for RLUSD would go live soon.“But rest assured, the price will come back to very close to $1 as soon as supply stabilizes. If it doesn't, something is very seriously wrong. If you want to spend a lot of money to get a tiny bit of RLUSD before anyone else does, you can,” Schwartz added.“But please don't expect the price to stay over $1 once things stabilize, which I expect they will do very quickly,” he continued. “Please don't FOMO into a stablecoin! This is not an opportunity to get rich.”Ripple designed RLUSD to serve institutional clients, complementing the broader adoption of XRP. The stablecoin aims to bridge fiat currencies and digital assets by enabling better cross-border transactions. This article was written by Jared Kirui at www.financemagnates.com.
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Why Is Bitcoin Surging? This Expert Forecasts $180K Bitcoin Price in 2025
Dec 16, 2024 | 03:04 amBitcoin price (BTC) reached new unprecedented heights on Monday, surging beyond $106,000 as President-elect Donald Trump's proposal for a national cryptocurrency reserve ignited a fresh wave of enthusiasm in digital asset markets. In the meantime, VanEck presented its newest Bitcoin price prediction, forecasting the oldest cryptocurrency will reach $180,000 in 2025.Bitcoin Hits All-Time High on Trump's Strategic Reserve PlansThe world's leading cryptocurrency jumped to $106,533 in early trading on Monday, December 16, 2024, marking a watershed moment for the digital asset class. The rally extends Bitcoin's remarkable year-to-date gain to 192%, with the total cryptocurrency market value swelling to $3.8 trillion.The rally began on Sunday, December 15, 2024, when the price of BTC surged by 3%, reaching $105,250. Although Monday's gains have mostly been corrected at the time of writing, Bitcoin remains at a record-high price of $104,583.Trump's pivot toward cryptocurrency policy has electrified markets. “We're gonna do something great with crypto,” the President-elect told media, expressing intentions to establish a strategic Bitcoin reserve comparable to the nation's oil stockpile.The announcement represents a dramatic shift for Trump, who previously dismissed cryptocurrencies. His administration's pro-crypto stance, including the appointment of David Sacks as White House cryptocurrency czar and the nomination of Paul Atkins to lead the SEC, has fueled investor optimism.🇺🇸 JUST IN: Charles Schwab, a $7 trillion financial giant, predicts #Bitcoin could reach $1 million if former President Trump establishes a Strategic Bitcoin Reserve pic.twitter.com/z4W3hDhhWl— Crypto Briefing (@Crypto_Briefing) December 6, 2024Adding to the bullish sentiment, software company MicroStrategy, the largest corporate Bitcoin holder, secured a spot in the prestigious Nasdaq 100 index. The firm's shares have surged over 500% this year, reflecting a growing institutional embrace of digital assets.“BTC ETFs increased by $2.1bn last week with $IBIT gaining $394mn. With the Nasdaq hitting a record high, BTC's major moving average indicators (EMA, SMA) are still indicating buy strength,” commented Paul Howard, the Senior Director at Wincent. “It appears bullish sentiment will continue off the back of Abu Dhabi finance week and into the Christmas spending season. Anecdotally this too seems to be where BTC as a Christmas present is more in vogue than ever, it seems not the season to be gifting shorts.”Global political figures have also weighed in on cryptocurrency's rising prominence. Russian President Vladimir Putin recently highlighted Bitcoin's resistance to prohibition, while noting how U.S. dollar policies are driving nations toward alternative assets.“Overall, the projected price ranges for BTC and ETH this week are $96,000–1115,000 and $3,600–4,200 respectively,” said Ryan Lee, the Head Analyst at Bitget Research. “Stablecoins continue to show net inflows and maintain strong liquidity. Altcoins, which experienced significant price volatility last week, are expected to see a rebound this week.”The cryptocurrency's meteoric rise since the November election, gaining over 50%, reflects growing confidence in a more favorable regulatory environment under the incoming administration.Technical Analysis: Why Is Bitcoin Going Up?The Bitcoin market value has surpassed $2 trillion following the latest price surge, with other cryptocurrencies also experiencing growth. Ethereum (ETH), the second-largest token by market capitalization, tested the psychological $4,000 level. A buying frenzy is evident across the market, with the Fear & Greed Index reaching 80 out of 100, signaling “extreme greed” among investors.What Does Technical Analysis Say?The key takeaway from the technical analysis is that previous highs from December 5 now serve as a support level. This opens the door for Bitcoin to continue its upward momentum, expanding the network of potential technical support.Bitcoin Support Levels:$104,100 – Previous highs from December 5$100,000 – Psychological barrier and mid-November highs$90,800 – December 5 lows, a crucial support zone$73,800 – The ultimate support level for bullsIn my opinion, only a drop below $73,800 would signal a shift in Bitcoin's market narrative. Until then, any downward corrections could present buying opportunities at more attractive prices. This sentiment is bolstered by experts forecasting new all-time highs (ATHs) for Bitcoin in 2025.If you want to learn more about the current crypto moves, you can also check my other projections. Last week I asked if Dogecoin could reach $10, and checked the newest developments with Ripple and the price of the XRP token.VanEck's Bold Bitcoin Forecast: $180KAs Bitcoin continues its meteoric rise, investment management firm VanEck has released ambitious projections for the cryptocurrency market in 2025, painting a picture of dramatic highs and subsequent consolidation.JUST IN: $118 billion VanEck predicts $180,000 #Bitcoin and the U.S. will embrace a Strategic BTC Reserve in 2025 🇺🇸 pic.twitter.com/s7lnNgkyhn— Bitcoin Magazine (@BitcoinMagazine) December 13, 2024According to VanEck's analysis, the ongoing crypto bull market is expected to reach its initial zenith in the first quarter of 2025. The firm projects Bitcoin to hit a staggering $180,000, while Ethereum could surpass $6,000. Other prominent cryptocurrencies like Solana and Sui are anticipated to reach $500 and $10 respectively, showcasing the breadth of the projected rally.“Following this first peak, we anticipate a 30% retracement in BTC, with altcoins facing sharper declines of up to 60% as the market consolidates during the summer,” VanEck’s Matthew Sigel forecasted. “However, a recovery is likely in the fall, with major tokens regaining momentum and reclaiming previous all-time highs by the end of the year.”To identify potential market tops, VanEck has outlined several key indicators they're closely monitoring. These include sustained high funding rates in futures markets, excessive unrealized profits among Bitcoin holders, overvalued market capitalization relative to realized value, declining Bitcoin market dominance, and signs of mainstream speculative fervor.More interestingly, those are not the highest Bitcoin price forecasts for 2025.Bitcoin Price Prediction 2025As Bitcoin tested levels above $106,000, leading industry figures have set their sights on ambitious targets for 2025. Here are the most notable predictions focusing specifically on next year:Tim Draper stands firm on his $250,000 forecast by the end of 2025. The veteran venture capitalist bases his prediction on increased merchant adoption and the upcoming Bitcoin halving event in April 2024. “The halving has historically triggered significant price movements in the following year,” Draper explains.Standard Chartered maintains its $200,000 target for 2025. The bank's analysts point to institutional inflows and regulatory[…]
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FCA Seeks Feedback on Crypto Admissions and Disclosures Regime
Dec 16, 2024 | 02:37 amThe Financial Conduct Authority (FCA) is seeking feedback on its plans to improve transparency in the UK’s cryptocurrency markets. The proposals focus on admissions, disclosures, and market abuse regimes to enhance the integrity of crypto markets and help people make informed financial decisions.FCA Discusses Market Abuse PreventionThe FCA's Discussion Paper DP24/4 outlines plans for firms to adopt stronger controls to prevent harm and suggests that certain firms, such as authorized crypto trading platforms, share information to prevent market abuse. This could reduce fraud and promote good practices.The FCA encourages industry input to help shape new disclosure methods that will ensure consumers understand the risks before purchasing crypto. The paper builds on earlier consultations, including insights from FCA-led roundtables with industry participants.#XDC 🇬🇧UK plans for crypto regulation provide welcome clarity | FCA Crypto Roadmap The government plans to engage firms on draft legal provisions for the cryptoasset regime as early as possible in 2025.The FCA has set out a phased approach, starting in Q4 2024 and continuing… pic.twitter.com/Evz4Lbn59k— Cryptonaire D (@darrinlewisjr) December 11, 2024FCA Warns Crypto Remains High-RiskThe FCA aims to create a fair and balanced crypto regulatory regime. It is seeking input from government, international partners, industry, and consumers. Feedback is open until March 14, 2025.The FCA continues to remind the public that while crypto regulation in the UK is developing, crypto remains largely unregulated and high-risk. Consumers should be prepared to lose all their money if something goes wrong.FCA Highlights Rising Crypto AwarenessMeanwhile, the FCA has released new research on UK consumer attitudes toward crypto, as reported by Finance Magnates. The study reveals that 12% of UK adults own crypto, up from 10%, and awareness has increased from 91% to 93%. The average value of crypto held rose from £1,595 to £1,842. Most respondents said family and friends were their main sources of information, and only 10% did no research before purchasing. Despite this, one-third believed they could file a complaint with the FCA, though crypto remains unregulated and high-risk. This article was written by Tareq Sikder at www.financemagnates.com.
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Bitpanda Gains In-Principle VARA Nod, Launches Dubai Office for MENA
Dec 16, 2024 | 01:41 amBitpanda, a European crypto platform, has obtained in-principle approval from the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates (UAE). This was achieved in less than eight months after submission. Once fully licensed, Bitpanda will operate as Bitpanda Broker MENA DMCC, marking its first official expansion outside Europe.Bitpanda Expands Beyond EuropeAccording to the firm, the approval reflects Bitpanda's strategy to grow beyond Europe and establish itself in the global digital asset market. The UAE has become a notable hub for cryptocurrency trading and digital finance. “In Europe, we have built a reputation as the most trusted and regulated digital asset platform,” Eric Demuth, Co-Founder and CEO of Bitpanda, commented. “Now, we are scaling this proven model globally, with Dubai and the UAE serving as our strategic launchpad for international expansion,” he continued. “The opportunities are immense, and we are uniquely positioned to seize them—both as Europe’s leading crypto broker and as a top infrastructure provider in the digital assets space.”@Bitpanda_global has secured an in-principle approval from the Virtual Assets Regulatory Authority (#VARA) in #Dubai!This milestone paves the way for Bitpanda's official launch in the #UAE under Bitpanda Broker MENA #DMCC.With this approval coming in under eight months,… pic.twitter.com/KJKqhqpYcH— Unlock Blockchain (@unlockbc) December 16, 2024Launching Fusion, Targeting MENAEarlier this year, Bitpanda set up an office in Dubai at the DMCC Crypto Centre. It has since hired regional experts and formed partnerships with financial institutions and crypto platforms. Bitpanda aims to build on its reputation as a regulated platform in Europe to serve investors in the UAE and the broader MENA region.Last week, Bitpanda launched Bitpanda Fusion, a product tailored for high-volume and intra-day traders. This tool integrates major exchanges to offer maximum liquidity and competitive prices, targeting active traders in the region.Fabian Reinisch, General Counsel of Bitpanda, added: “Securing VARA’s in-principle approval in under eight months reflects the strength of VARA’s progressive regulatory framework and Bitpanda’s steadfast commitment to compliance and innovation.” This article was written by Tareq Sikder at www.financemagnates.com.
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MicroStrategy, Palantir Join Nasdaq 100, Trump Talks Bitcoin Reserve
Dec 16, 2024 | 00:41 amMicroStrategy and Palantir join Nasdaq 100, Axon shines, and Trump’s Bitcoin reserve plans spark $1.5 trillion speculation. It’s all about tech.MicroStrategy, Palantir and Axon Enterprise secure spots in the Nasdaq 100 and Trump’s Bitcoin reserve plans ignite $1.5 trillion market chatter. Illumina, Moderna and Super Micro Computer will be removed from the index.Michael Saylor’s MicroStrategy Joins Nasdaq 100In what feels like a market mic-drop moment, Michael Saylor’s MicroStrategy has secured a spot in the prestigious Nasdaq 100 index, joining tech heavyweights like Apple and Amazon. Known as the de facto Bitcoin proxy, the software-turned-crypto company owes much of its rise to its audacious Bitcoin hoarding strategy. With a whopping 423,650 Bitcoin under its belt, MicroStrategy has turned itself into a gateway for investors seeking indirect exposure to Bitcoin without dabbling in the complexities of wallets and keys. As of December 13, MicroStrategy stock was up 547%.I will see you on the moon. #Bitcoin pic.twitter.com/pmL7TTBr5e— Michael Saylor⚡️ (@saylor) December 15, 2024But it’s not just about the Bitcoin holdings; it’s about the timing. MicroStrategy’s inclusion coincides with Bitcoin’s recent rally, sparked by growing institutional interest and whispers of a potential ETF approval. As the Nasdaq 100 welcomes this crypto king, it’s clear that Bitcoin is no longer the fringe asset it once was—it’s becoming a central theme in mainstream finance.MicroStrategy is a loss-making company that could enter the Nasdaq 100 based on its Bitcoin holdings. IDX Advisors’ CIO Ben McMillian explains this and other tailwinds for the cryptocurrency's adoption surge. Read: https://t.co/7eAhFrywgp pic.twitter.com/IvOeHHI2d1— Reuters Business (@ReutersBiz) December 11, 2024Palantir Joins the Party: Big Data Meets Big LeagueNot to be overshadowed, Palantir Technologies is also stepping into the Nasdaq 100 spotlight. Known for its controversial yet revolutionary data analytics solutions, Palantir has had a wild ride on Wall Street. After a rocky start post-IPO, the company has stabilized and surged thanks to lucrative government contracts and AI-powered innovations.“Palantir exists to serve this nation. We need to know what’s working and what’s not… Software is enormously efficient. The underlying economics are ‘Both sides get more’… Transparency will not only be cheaper, the output will be better.”Alex Karp on software’s role in… pic.twitter.com/7eeDVFq5bc— Palantir (@PalantirTech) December 6, 2024Palantir is a software-as-a-service (SaaS) company specializing in AI-driven cloud-based solutions. Its platforms empower customers to leverage their data for enhanced operational efficiency and effectiveness. The company serves a diverse clientele, including U.S. government agencies, allied nations, and commercial enterprises.Investors are paying attention. As Palantir’s stock continues its upward trajectory, its addition to the Nasdaq 100 is a clear signal of its growing dominance in the tech space. Palantir’s inclusion isn’t just a win for the company; it’s a win for the data-driven future. For investors, it’s another reason to keep Palantir on their radar as AI and data analytics reshape industries, including trading.Axon Enterprise: The Quiet AchieverRounding out the trio of newcomers is Axon Enterprise, the company behind the Taser and body camera technologies used by law enforcement worldwide. While not as flashy as Bitcoin or big data, Axon has quietly carved out a niche as a tech leader in public safety. Its inclusion in the Nasdaq 100 reflects its steady growth and consistent innovation.NASDAQ --THREE COMPANIES WILL BE ADDED TO INDEX: PALANTIR TECHNOLOGIES INC., MICROSTRATEGY INCORPORATED, AXON ENTERPRISE, INC $PLTR $MSTR $AXON pic.twitter.com/YQDMuNQ5tN— FOMO Stocks (@FOMOstocks) December 14, 2024Unlike MicroStrategy’s Bitcoin hype or Palantir’s AI buzz, Axon’s story is about delivering tangible solutions to real-world problems. With a focus on making communities safer and more accountable, Axon’s market performance underscores the diversity of companies driving the Nasdaq 100 forward.Trump’s Bitcoin Bombshell: $1.5 Trillion Boom?Just as investors were digesting the Nasdaq 100 reshuffle, Donald Trump dropped a Bitcoin-shaped bombshell. The former president is following up on plans to establish a Bitcoin reserve, fueling speculation about a $1.5 trillion price surge. While details remain scarce, the announcement has electrified the crypto market.Bitcoin surged to a record high above $106,000 in early Asian trade, boosted by comments from President-elect Donald Trump that suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve. More here: https://t.co/uZugYzwofl pic.twitter.com/rxTwjYzkIV— Reuters Business (@ReutersBiz) December 16, 2024Trump’s pivot to Bitcoin marks a dramatic shift from his earlier skepticism about cryptocurrencies. Analysts believe this move could catalyze further institutional adoption, potentially positioning the U.S. as a global leader in digital assets. For MicroStrategy, the news couldn’t come at a better time. Its Nasdaq 100 debut is now tied to a broader narrative of Bitcoin’s mainstream integration—and the market is taking notice.The Big PictureMicroStrategy, Palantir, and Axon’s ascension to the Nasdaq 100 is a snapshot of a tech landscape in flux. From Bitcoin’s growing influence to AI and public safety innovations, these companies represent the future of finance and technology. And with Trump’s Bitcoin reserve plans adding a new layer of intrigue, the stage is set for a rollercoaster year ahead.Investors, buckle up. The Nasdaq 100 isn’t just a list of stocks; it’s a reflection of where the world is headed—and right now, it’s looking very digital.For more stories of FinTech, follow visit our dedicated archives. This article was written by Louis Parks at www.financemagnates.com.
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Can Bitcoin Hold Its $100K Value? The Role of Institutional Investors and ETFs
Dec 13, 2024 | 07:19 amAfter Bitcoin reached an all-time high of $103k last week, the top cryptocurrency has enjoyed a positive market sentiment despite a few price corrections. Currently, the price is hovering around $100k. According to CoinMarketCap, BTC's market capitalization is $1.99 trillion. As the year draws to a close, important fundamental could maintain the positive upward trend for the top cryptocurrency. Institutional investors have reportedly played an important role in the value of Bitcoin. Institutional AdoptionAmong these important players are reportedly the U.S.-listed Bitcoin ETFs, MicroStrategy, and crypto miners. This could be one of the factors partly sustaining the price above $100k. Trading Volumes were $63 billion in the past 24 hours.Bitcoin doubled its value from a low of $54 in early September boosted by a surge in futures, spot, and ETF trading activities, Coindesk reported. The market also experienced a substantial growth after the U.S. election in early November pushing trading volumes past $100 billion. Institutional players like U.S.-listed Bitcoin ETFs and MicroStrategy have bolstered Bitcoin’s demand. Since September, both cohorts have reportedly added approximately 200,000 BTC each to their holdings, with ETFs surpassing 1 million BTC in total reserves.In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC, and our #Bitcoin development strategy. $MSTRhttps://t.co/cfGPc42jfM— Michael Saylor⚡️ (@saylor) August 1, 2024Binance, the world’s largest crypto exchange, has also seen a record-breaking year. With $21.6 billion in user fund deposits, Binance outpaced the next ten exchanges combined. Average BTC deposits surged, reflecting growing institutional and corporate interest in digital assets.Among the miners planning to buy more Bitcoins is Riot Platforms, which recently announced its intention to raise $500 million to acquire more Bitcoin. Riot mentioned that the funds collected from the fundraising will be used to buy Bitcoin and for corporate purposes. As of the end of Q3, Riot Platforms reportedly held 10,427 Bitcoins. Riot Announces Proposed Private Offering of $500 Million of Convertible Senior Notes. Net proceeds from this offering to be used primarily to acquire bitcoin and for general corporate purposes. Link to press release: https://t.co/z7xQaB9eC4.— Riot Platforms, Inc. (@RiotPlatforms) December 9, 2024Bitcoin ETFsThe approval of Bitcoin ETFs in major markets has transformed how institutional investors gain exposure to cryptocurrency. ETFs have reportedly attracted substantial inflows, rivaling traditional assets like gold ETFs.This has also become an important driver of Bitcoin’s price rally. However, looking at the technical indicators, the price could be correct in the short term before any further gains can be seen.According to TradingView, the price has been trending upwards and bouncing off the ascending trend line since early October. The Relative Strength Indicator (RSI) is currently at 76, meaning BTC is overbought and could reverse the upward trend if it does not attract enough buyers. However, the current trend remains positive with strong upward momentum. This article was written by Jared Kirui at www.financemagnates.com.
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