Author: News Room
Cryptocurrency market analysts have traditionally relied on demand for spot Bitcoin (BTC) ETFs to predict the direction of digital asset prices. But a new report by 10x Research suggests that stablecoin supply may be a more accurate indicator of crypto demand. Stablecoins, digital assets with a fixed price predominantly pegged to the US dollar, are a crucial infrastructure component that bridges the gap between traditional currencies and the digital asset world and provides liquidity for trading. According to Markus Thielen, founder of 10x Research, changes in their supply offer valuable information about the health of the crypto market. “We recommend…
In the wide world of crypto, there are now many blockchains specifically designed for gaming—but Ronin was among the first to launch. Gaming blockchains are typically built to offer low transaction fees and a higher number of potential transactions, so they’re supposed to be more affordable and more scalable than blockchains like Bitcoin and Ethereum. Some gaming chains are also private, meaning that developers must gain approval from a blockchain’s creators in order to join its ecosystem. Ronin is one of those examples—at least for now, though founders have said they intend to open it up sometime in 2024 for…
Since Ethereum’s transition from proof-of-work to proof-of-stake, some have suggested this makes ETH, or at least staking ETH, a security. These arguments don’t stand up to scrutiny. Properly understood, staking ETH is a technical service to ensure transactions on the Ethereum network are processed properly and securely, rather than as an investment subject to securities laws. This is the case even where third parties, like node operators or exchanges, facilitate the staking of ETH. Stakers’ expectations of profit come from staking rewards and the market for ETH, not the administrative and technical services provided by third parties. The legal framework:…
Crypto expert Ash Crypto has outlined his price predictions for several crypto tokens, including Bitcoin (BTC), Dogecoin (DOGE), and XRP, heading into this bull run. He also suggested that these price levels could be attained in the next 12 to 16 months. How High Will Bitcoin, Dogecoin, And XRP Rise? Ash Crypto predicted in an X (formerly Twitter) that BTC would rise between $100,000 and $250,000 by 2025. This prediction aligns with those made by other notable crypto analysts. One of them is Skybridge Capital CEO Anthony Scaramucci, who predicted in January that Bitcoin would rise to $170,000 18 months…
Ethereum’s recent 8% surge has ignited the crypto ecosystem, marking its largest increase in over a month. This jump is linked to speculation about potential US exchange-traded funds (ETFs) for Ethereum, fueling intense discussion among crypto community members. On Monday, Ethereum outperformed major crypto assets such as Bitcoin. Is Alameda Research Planning to Sell $14.75 Million in Ethereum? As of writing, Ethereum’s price stands at $3,680. It boasts a 62% year-to-date gain, closely tailing Bitcoin’s 68% rise. Recently, proponents of the spot Ethereum ETFs have reportedly engaged with the US Securities and Exchange Commission (SEC), signaling a shift in the…
ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to issue their stablecoins, and this service would be available for them after receiving a license from the Hong Kong Monetary Authority (HKMA). ZA Bank to […] Read the full article here
More than 600 Bitcoin $100,000 strike call options were traded in a significant block trade earlier today. According to Greeks.live, the traders had a notional value of up to $45 million and $8.5 million worth of premiums alone. Per the options market, traders are confident that Bitcoin’s price will reach or exceed $100,000. In simple terms, many traders are wagering that Bitcoin’s price will soar much higher, underlining a bullish sentiment in the cryptocurrency market. Bitcoin broke through the $70,000 zone without warning, one step away from a new all-time high.The rapid rise has driven all major term IVs up…
A universal restaking layer designed by the Andalusia Labs team has emerged from stealth to launch its mainnet today. Karak is a risk management layer-2 blockchain solution that simplifies the process of providing economic security through restaking. The company is based in San Francisco and Abu Dhabi. It previously raised $50 million at a $1 billion valuation from investors including Coinbase, Mubadala — an Abu Dhabi Sovereign Wealth Fund — Lightspeed, Bain Capital, Pantera Capital, Framework Ventures and others. Raouf Ben-Har, the co-founder of Karak, told Blockworks that Karak was created to solve the problem of fragmented crypto-economic security in…
Shiba Inu’s Shibarium, a Layer-2 solution for the meme-inspired cryptocurrency, has witnessed a staggering surge in activity, marking a monumental 625% increase in active accounts in just one day. According to data from Shibariumscan, the network now boasts a remarkable 4,457 active accounts, a substantial leap from the 713 recorded the day prior. This sudden spike in activity has also translated into a substantial uptick in new accounts, which surged by an astonishing 6,823%, climbing from 56 to an impressive 3,821 within the same 24-hour period. The cause behind this unprecedented surge remains a topic of speculation, but it undoubtedly…
The onset of the new trading week witnessed a notable surge on the cryptocurrency market, with Ethereum (ETH) emerging as a prominent beneficiary. Displaying robust performance, ETH experienced a commendable uptick in value, surpassing the $3,600 threshold, signaling potential bullish momentum. Amid this market exuberance, attention turned to the Ethereum Foundation, a cornerstone institution within the Ethereum ecosystem. Reports from Peckshield Alert unveiled a strategic move by the foundation, whereby a portion of its ETH holdings was converted into stablecoins, translating to a substantial sum of 354,000 DAI from 100 ETH. Further insights from Arkham Intelligence corroborated this action, highlighting…