Ethereum prices are firm at spot rates, still trading above the $2,000 level, and multiple other factors point to possible trend continuation. According to Kaiko’s data on November 12, not only is the ETH-BTC ratio shifting and reversing after extended periods of lower lows, but also there is a notable uptick in trading volume with funding
The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden and Chinese leader Xi Ping meet on Nov. 15. But with the focus of the organization being on the regional economy, the finance ministers’
The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC
Solana’s native token (SOL) experienced a remarkable 58.6% surge in just five days, reaching an $64 high on Nov. 11. However, the subsequent two-day retracement of 11.3% to $54 has prompted investors to question whether this signals a fading bullish momentum or merely a temporary price adjustment. To put Solana’s performance into context, let’s compare
The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted a comment letter mainly in opposition to tax regulations proposed by the Internal Revenue Service (IRS). In a Nov. 13 letter, the Blockchain Association (BA) said proposed IRS rules introduced in August aimed at regulating the sale and exchange of digital assets by brokers
Bitcoin (BTC) has risen more than 120% year-to-date, indicating that the crypto sentiment has improved significantly. Solid buying has resulted in a sharp increase in crypto wallets holding more than $1 million in Bitcoin this year from 23,795 on Jan. 1 to 81,925 currently, according to BitInfoCharts data. After the substantial rally, Bitcoin could face
Bitcoin (BTC) institutional investment vehicles have seen over $1 billion in new inflows in less than two months. In its latest weekly report on Nov. 13, crypto asset management firm CoinShares furthered the narrative that Bitcoin and altcoins are again attracting capital. Crypto institutional product AUM up 99% year-to-date Bitcoin, Ether (ETH) and some major
The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent crypto entrepreneurs as attendees. According to the Committee’s calendar, Mr. Bill Hughes, senior
The National Stock Market Commission (CNMV), Spain’s principal financial regulator, called out the fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws. On Nov. 8, in a speech at the Deloitte annual conference for the Spanish financial sector in Madrid, the CNMV head, Rodrigo Valbuena, revealed
While many participants in the crypto space continue to advocate for only a single blockchain, some believe that the future will be made up of multiple blockchains working with each other. From Toronto in 2017 to now, we’ve taken #RippleSwell around the world. I closed out this year’s event with a fireside chat with CNBC’s
Cryptocurrency trading platform Bitget has dropped plans to obtain a Virtual Asset Trading Platform (VATP) license in Hong Kong, citing business and market-related considerations. Bitget officially announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the domain BitgetX.hk, will cease operations by Dec. 13, 2023. As Bitget decided not to apply for
Major stablecoin issuer Tether has been increasingly minting new USDT (USDT) tokens, issuing 4 billion USDT over the past month. Tether issued another 1 billion of Tether on the Tron blockchain on Nov. 10, the blockchain data provider Whale Alert reported. The latest USDT minting came just a few days after Tether issued another 1
Gresham’s law, explained Gresham’s law has historically influenced the circulation of currency and continues to impact economic behavior by addressing how individuals prioritize different forms of money. Gresham’s law is a principle in economics that states that when two different forms of money are in circulation, individuals typically spend or trade the money they believe
The Bitcoin (BTC) mining community recorded its annual all-time high (ATH) on Nov. 12 after raking in over $44 million in block rewards and transaction fees. The revenue from Bitcoin mining primarily comes from rewards for confirming Bitcoin transactions and creating new blocks using high-tech computer equipment known as mining rigs. Miners currently receive 6.25
An anonymous group of hackers claims to have stolen personal information for about 300,000 customers of the Bitcoin (BTC) ATM company called Coin Cloud, the pseudonymous cybersecurity account Vx-underground posted on X (formerly Twitter). An unknown Threat Actor(s) claim to have compromised Coin Cloud. They allege to have exfiltrated 70,000 customer selfies (via ATM cameras),
Australian authorities will oblige local companies to be fully transparent and report any ransomware cyberattacks on their businesses. The country’s economy lost $2.59 billion to cybercrimes in 2021. As reported by the Australian on Nov. 13, the national cybersecurity strategy, which will be revealed this week, will feature a mandatory system under which local businesses
Bitcoin (BTC) starts a new week still riding high near $37,000 as macroeconomic data returns to the fore. The largest cryptocurrency continues to circle its highest levels in 18 months, with excitement over a possible exchange-traded fund (ETF) approval in the United States driving sentiment. That is getting increasingly greedy, however, as according to the
Native asset settlement protocol THORChain has recorded the third-largest trading volume among non-centralized exchanges in the last week with users seemingly attracted to the high yield offered adjacent to its native token Rune (RUNE). Over the last week, THORChain’s trading volume hit $1.32 billion third only behind Uniswap and PancakeSwap at $10.85 billion and $2.77
Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market. Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ — South Korea’s version of the United States Nasdaq — with an expected
Top Stories This Week CME overtakes Binance to grab largest share of Bitcoin futures open interest Bitcoin’s futures market is showing an interesting shift as global derivatives marketplace the Chicago Mercantile Exchange (CME) has surpassed Binance in terms of Bitcoin futures open interest. This change occurred after Bitcoin exceeded the $37,000 mark for the first
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