Author: News Room

Within the last 24 hours, the market witnessed a significant rally in the Bitcoin price, which soared by 10% from a daily low of $60,805 to a peak of $68,250. This remarkable price movement can be attributed to several key factors, including yesterday’s Federal Open Market Committee (FOMC) meeting, a notable change in the Coinbase Premium, and Bitcoin’s technical breakout from a downtrend channel. #1 FOMC Meeting: Dovish Remarks By Jerome Powell Fuel Optimism As reported yesterday, the macro environment came back into focus for Bitcoin and crypto following the hotter than expected Consumer Price Index (CPI) and Producer Price…

Recent statistics reveal that the layer two (L2) network Arbitrum has experienced a significant increase in daily transactions. On Tuesday, the network’s daily transactions even exceeded those on the Ethereum platform. Additionally, following Ethereum’s Dencun upgrade, other L2 networks such as Optimism have also witnessed an uptick in activity. Arbitrum Transfers Spike Metrics indicate that L2 fees for Arbitrum, Optimism, and Starknet have dipped to below a U.S. penny per transfer as of March 20, 2024. Following the implementation of Ethereum’s Dencun upgrade on March 13, L2 network fees have significantly decreased, now costing less than $0.01 per transaction, a…

A crypto data analyst at Hashed, Subin An on X, has spotted notable developments in the Fantom decentralized ecosystem. According to An, since the DeFi summer of 2020, decentralized exchange (DEX) volume on Fantom has significantly decreased. However, he observed that the monthly active addresses (MAU) during the same period remained above 400,000. Can @FantomFDN lead the DeFi bull market again? Since the DeFi summer, DEX volume has significantly decreased, but MAU have maintained over 400K. it can be observed that the volume of most DEXs has nearly 2X in the past week. 2024🔥🚀?@AndreCronjeTech https://t.co/2apgO3Hpq9 pic.twitter.com/33auouQmdV — Subin An |…

Grayscale argued the benefits of being able to “stake the Ethereum held by the Trust” in a new SEC filing yesterday. The firm is hoping to convert its Grayscale Ethereum Trust (ETHE) into an ETH spot ETF the way it did its Grayscale Bitcoin Trust in January. The proposal, which appeared yesterday in a preliminary proxy statement, outlines four proposals aimed at converting its Grayscale Ethereum Trust (ETHE) into an ETF. Besides using the ETH backing shares to participate in staking through a Proof-of-Stake protocol, the firm also is seeking to grant authorized participants the ability to create and redeem…

According to breaking information, Coinbase Derivatives LLC has quietly filed for certification with the CFTC to list US-regulated futures for Dogecoin (DOGE), Litecoin (LTC) and Bitcoin Cash (BCH). However, it was learned that these applications were made on March 7, but were not noticed by anyone. If there is no objection from the CFTC, futures will begin trading on April 1. Coinbase’in Dogecoin için yaptığı başvuruyu gösteren görsel. Some analysts think that if these applications begin to be traded smoothly, it could pave the way for futures ETFs for the altcoins in question. *This is not investment advice. Read the…

According to Nick, the Cheeky Crypto YouTube channel host, FLOKI, one of the dog-themed memecoins, will rally higher after the recent pullback. The renowned technical analyst explained how FLOKI would forge another leg in a five-wave rally on the weekly chart. Nick revealed how the memecoin rallied since Q4 2023 when it kick-started the five-wave pattern on the weekly chart. He noted how the rally delivered almost 2,000% gains before embarking on the latest retracement. This year alone, FLOKI returned over 1,000% in profit following a price surge that escalated at the end of February. As of the time of…

Both Rep. Patrick McHenry and Sen. Cynthia Lummis said there’s a potential path for a stablecoin bill on Congress this year, though they couldn’t say when it could happen. The U.S. Senate has been trailing on the stablecoin issue, without any committee work yet on a bill. WASHINGTON, D.C. — U.S. Rep. Patrick McHenry (R-N.C.) said some of the recent chaos in Congress derailed crypto legislation for a while, but a stablecoin bill is largely worked out in the House of Representatives and just needs a scheduled floor vote. “We have a workable frame,” McHenry, the chairman of the House…

In the past year, competition within the centralized exchange (CEX) track has witnessed a new trend. With the emergence of various narratives such as Inscription, BRC-20, and Re-Staking, wallet-centered asset management services have become a new battleground among CEXs. Major CEXs have successively entered the fray, engaging in fierce competition. Emily Bao, Head of Partnerships and Marketing at Bybit Web3, shared insights with Invezz ranging from Bybit’s strategy in the Web3 arena to CEX competition within this realm, as well as market trends and future prospects for Web3 development. Bybit recently launched Keyless Wallet. What sets it apart from Web3…

Financial services firm Bernstein raised its year-end price target for the flagship cryptocurrency Bitcoin ($BTC) to $90,000 from $80,000, citing a confluence of bullish factors. According to a recent report by analysts Gautam Chhugani and Mahika Sapra. a new Bitcoin bull cycle is underway, fueled by strong inflows into the newly launched spot Bitcoin exchange-traded funds (ETFs), aggressive expansion of mining capacity, and record-breaking miner revenue. The analysts noted that Bitcoin miners remain “compelling buys for equity investors seeking exposure to the crypto cycle,” as CoinDesk reports, and revised their estimates for cryptocurrency mining stocks. They noted that they foresee…

Gold bug Peter Schiff has highlighted a problem with owning spot bitcoin exchange-traded funds (ETFs). However, the issue Schiff pinpointed isn’t unique to bitcoin ETFs. This discussion has reignited calls for self-custody among crypto proponents. Peter Schiff’s Warning Prompts Self-Custody Push Gold advocate and economist Peter Schiff has highlighted a problem with owning spot bitcoin […] Read the full article here