Crypto
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SEC could approve spot Bitcoin ETFs as early as 2023 — Bloomberg analysts
Eric Balchunas and James Seyffart, exchange-traded fund (EFT) analysts for Bloomberg, said that a proposed rule change with the United States Securities and Exchange Commission (SEC) could be the catalyst for the regulatory body approving a spot Bitcoin ETF in mid-2023. In a Thursday tweet, Balchunas said crypto platforms could fall under the SEC’s regulatory framework if the commission were to approve the amendment to change the definition of “exchange” proposed in January. The rule change would amend the Exchange Act to include platforms “that make available for trading any type of security” — seemingly including cryptocurrencies, making their investment vehicles more palatable for the regulator. “Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoi...
Terra’s Bitcoin purchase and BlackRock comments back ETH’s surge to $3.1K
Ether (ETH) bulls have a few good reasons to celebrate the 20% gain between March 14 and March 24. The price increase surprised many and led to the first daily close above $3,000 in 34 days. Even with this move, Marc’s $2.4 billion Ether options expiry is somewhat uncertain because bears can easily profit by pushing the price below $3,000. In a letter to shareholders, Larry Fink, the CEO of BlackRock, the world’s largest asset manager, noted that the global socio-political crisis and growing inflation could make way for a global digital payment network. Moreover, cryptocurrency investors turned bullish after Terra co-founder Do Kwon reconfirmed plans for the giant $10-billion BTC allocation. On March 24, the third tranche of Tether (USDT) left a wallet thought to hold fun...
Crypto rallies to $2T market cap as institutions signal readiness to enter
Bitcoin (BTC) and the broader cryptocurrency market rallied on Thursday, as the total value of digital assets crossed $2 trillion for the first time in over three weeks amid signs of a clear shift in market sentiment — headlined by Goldman Sachs, no less. BTC printed an intraday high of $44,253, having gained more than 3% during the session, according to data from Cointelegraph Markets Pro and TradingView. The largest cryptocurrency by market capitalization has now recovered over 33% from its January low. The total crypto market cap has gained over 7% since Monday to reach nearly $2.1 trillion, according to Coingecko data. The market capitalization figure also reached $2 trillion on CoinMarketCap. While not bullish, Bitcoin’s Fear & Greed Index has escaped “extreme fear” and is n...
Cardano ecosystem tokens you should not miss: API3, LINK and COTI
API3, LINK, and COTI are all part of the Cardano ecosystem. As the Cardano ecosystem evolves, each token will see a significant level of growth. All of these tokens can increase in value, and we are going to go over each one individually. API3 (API3), Chainlink (LINK), and COTI (COTI) are all tokens that are a part of the Cardano ecosystem. We will be going over each token individually as a means of getting an indication as to how far this token can grow. Should you buy API3 (API3)? On March 24, 2022, API3 (API3) had a value of $5.16. The all-time high of API3 (API3) was on April 7, 2021, when the token reached a value of $10.30. When we go over the performance of the token throughout the previous month, API3 (API3) had its lowest point of value on February 3, when the token was worth just...
Multiplayer P2E game Mavia seeks ‘Verified by Machinations’ seal
The seal demonstrates dedication to maintaining a sustainable and healthy in-game economy The Heroes of Mavia strategy game is backed by leading exchanges Crypto.com and Binance Skrice Studios’ multi-player play-to-earn online game Heroes of Mavia has just announced an initiative towards a sustainable in-game economy as it seeks the Verified by Machinations’ seal. Heroes of Mavia is backed by crypto exchanges Crypto.com and Binance and offers players gaming actions largely rewardable by RUBY, the game’s native token. Machinations will track Mavia’s economy Gaining the Machinations seal is crucial in ensuring the viability of P2E gaming platforms, especially those built around crypto and the general Web3 space (characteristic of liquidity pools, decentralised autonom...
Ledger CEO claims that with increasing relevance Bitcoin could offer good exchange value
The Ledger chief says that Bitcoin has shown utility in situations of war beyond just Ukraine He insists the crypto utility that the Ukraine situation has shown is nothing new Ledger CEO Pascal Gauthier recently appeared on CNBC’s Squawk on the Street in an exchange that dwelt on several matters crypto and where the industry is headed. The impact of geopolitics The ongoing war resulting from the Kremlin’s incursion of Ukraine has been sort of a revelation for crypto in terms of sanction evasion and the cross-border utility of the assets. Perhaps the best illustration of this is the massive crypto donations that have been either made or pledged so far. The Ledger boss noted that even beyond Ukraine, places like Lebanon have often seen the rising utility of crypto since war often...
BAYC’s ApeCoin up 50% this week as its creator raises $450M in new funding
ApeCoin (APE) continued its rebound move Thursday as the firm behind it raised hundreds of millions of dollars in a funding round led by Andreessen Horowitz. APE’s price surged 7.5% intraday to reach around $14.50 per piece. Notably, the token’s upside move came as a part of a retracement rally that started at the beginning of this week when it was changing hands for as low as $9.50. That pushed APE’s week-to-date profits up by 50%, making it one of the best-performing digital assets since March 21. APE/USD daily price chart. Source: TradingView Big VC booster To recap, ApeCoin digital currency came to existence on March 17, via an “airdrop” backed by Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC), a collection of nonfungible tokens (NFT) popul...
Portsmouth embraces Bitcoin payments for city bills
In an effort to embrace virtual money, the city of Portsmouth, New Hampshire, will allow residents to pay their bills in Bitcoin (BTC) and other cryptocurrencies. Deaglan McEachern, the city’s mayor, proposed the idea to city officials, who feel it will provide residents with more payment choices. As per a local news report from Seacoastonline on March 23, Mayor McEachern said that “there are waves of new things that will affect us in terms of our future that use the type of technology used in cryptocurrency.” He went on to say: “I want to make sure Portsmouth is not waiting around to see how this is going to affect us in the future because it’s already affecting us.” McEachern said the City Hall has learned a lot more about cryptocurrencies and blo...
Bottomed out? MINA rises 75% nine days after hitting its worst level to date
MINA, a utility token backed by a “lightweight” smart contracts platform of the same name, continued its upside move nine days after rebounding from $1.58, its lowest level to date. The coin rallied by about 75% to reach $2.75 as of March 24 as traders weighed a high-profile funding rounds involving the sale of $92 million worth of MINA tokens to Three Arrows Capital, FTX Ventures, and other venture capitalists. MINA/USD daily price chart featuring its correlation with Bitcoin. Source: TradingView An overall recovery sentiment across the crypto market also assisted in pushing MINA’s price higher, since altcoins typically move in tandem with Bitcoin (BTC). Additionally, Coinbase’s announcement on March 23 to add MINA support to its crypto exchange may have ...
Digital currencies could get a boost from the international crisis: Blackrock CEO
Larry Fink, the CEO of the world’s largest asset manager BlackRock, believes the ongoing Russia – Ukraine crisis has boosted the case for digital currencies as a tool of settlement for international transactions. In a shareholders letter, Fink noted that the ongoing war would force nations to reassess their currency dependencies which could eventually make way for a global digital payment network, reported Reuters He said the war has put an end to the globalization forces at work over the past 30 years. Fink’s observation about the boost in the digital currency market is quite spot on, as trade sanctions on Russia have already led many countries that import oil and gas from them to look for alternate payment networks beyond centralized SWIFT. India is reportedly developing a direct I...
Ethereum price breaks through $3K, but analysts warn that a retest is needed
The cryptocurrency market continues to forge ahead on March 23 despite facing headwinds on multiple fronts. At the moment, global conflict, rising inflation and widespread economic uncertainty are taking a toll on financial markets and helping to highlight the need for a diversified investmen portfolio. Altcoins have managed to gain some ground in recent days, led by Ethereum, the top smart contract platform, which managed to climb back to the major support and resistance zone at $3,000 where bulls are now battling for control. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts in the market are saying about the path forward for Ether and whether or not further upside is expected in the short-term. Upcoming test of $3,125 A general overview of the recent...
A$DC rocks the Aussie dollar as ANZ bank mints first AUD stablecoin
Big 4 bank ANZ has become the first Australian bank to mint an Australia dollar (AUD) pegged stablecoin named “A$DC.” But rival bank NAB also has its own stablecoin project which is expected to launch by the end of the year. ANZ is working with local regulators such as AUSTRAC and APRA to get the project signed off in a compliant manner, and has already run a test transaction on the Ethereum blockchain with its institutional partner Victor Smorgon Group, the family office tied to the billionaire Smorgon family. According to a March 24 report from the Australian Financial Review (AFR), the stablecoin will initially be rolled out for institutional clients seeking a cost-effective on-ramp for crypto investments, however it is likely to be opened up to the retail trading market in the near fut...
