Author: Max Bauer

In a recent interview, VanEck’s CEO expressed a bullish outlook for Bitcoin, predicting that its market capitalization will eventually reach half of gold’s. This would put Bitcoin’s value at approximately $350,000 per coin. The CEO based this prediction on the growing adoption of Bitcoin and the potential for central banks to embrace it as part of their monetary systems. He also highlighted the long-term trend of Bitcoin’s increasing value, comparing it to the performance of Indian equities over the past decade. While acknowledging the risks and potential volatility associated with Bitcoin, the CEO emphasized the importance of diversification and including…

The Telegram Open Network (TON) chain has seen a significant surge in popularity, with its top five tokens boasting millions of addresses. This growth puts TON far ahead of Ethereum’s popular memecoin PEPE, which has only 280,000 addresses. According to recent data, the top five tokens on the TON chain are TON, USDT, CATI, NOT, and DOGS. TON, the native token of the network, leads the pack with a massive 19.39 million addresses. USDT, a stablecoin pegged to the US dollar, follows with 1.54 million addresses. Other notable tokens include CATI, NOT, and DOGS, which have 1.09 million, 2.86 million,…

Arthur Hayes, co-founder of BitMEX, has recently reduced his holdings in the decentralized finance (DeFi) protocol Pendle Finance (PENDLE). He bought 392,911 PENDLEs at about $5.6 between May 20 and June 21, and sold 350,000 PENDLEs at a loss yesterday. Hayes says that he is still a big believer in PENDLE and that he plans to profit off of its success. He has reduced his position to fund a special situation, which he will reveal in the near future. It is important to note that Hayes is selling his PENDLE at a loss. This could be a sign that he…

While Bitcoin (BTC) has demonstrated strong performance following the Federal Reserve’s interest rate cut, altcoins have emerged as the real winners in the cryptocurrency market. Total3, an index tracking the top 125 cryptocurrencies excluding Bitcoin and Ether (ETH), has surged by 5.68% since the central bank’s announcement of a 50 basis point rate reduction. In contrast, Bitcoin’s market capitalization has only increased by 4.4%. Bob Wallden, head of trading at Abra, explained that this outperformance is not surprising. “Altcoins are higher beta than Bitcoin and Ether, making them a leveraged play on the broader crypto market similar to tech stocks…

Cryptocurrency analyst James Van Straten sees a potential silver lining for Bitcoin, suggesting a divergence between its price and hashrate could be setting the stage for a rally. Hashrate refers to the total computing power of the Bitcoin network, and according to Van Straten, historical data reveals that such divergences have often preceded price increases. “These divergences have occurred only a few times in the past three years,” Van Straten noted. “In some cases, Bitcoin prices have reached a local bottom during these events, followed by a rally as the market catches up with the rising hash rate.” Hashrate fluctuations…

Avalanche, once a rising star in the blockchain space, is now facing a significant uphill battle to attract and retain users. The number of active addresses on Avalanche’s C-Chain has plummeted to a 12-month low of 31,000, a stark contrast to the network’s peak of 99,000 active addresses in December 2023. This decline is particularly notable considering the surge in activity related to inscriptions that occurred in December, inspired by similar trends on other blockchains like Bitcoin’s Ordinals. Designed to address scalability issues, Avalanche’s unique consensus mechanism and multi-chain architecture aim to deliver decentralization, scalability, and security. Despite its potential,…

Arthur Hayes, the former CEO of BitMEX, has faced criticism after seemingly selling a significant portion of his holdings in the crypto project Pendle, which he heavily promoted at the recent Token2049 conference in Singapore. According to attendees, Hayes dedicated nearly 30 minutes of his speech to promoting Pendle, a project he has publicly expressed enthusiasm for. However, shortly after the conference, he transferred over a million dollars worth of Pendle tokens to his accounts on centralized exchanges Binance and ByBit. Many interpreted this transfer as an indication that Hayes was selling the tokens, despite the difficulty in confirming this…

According to the official document published by the SEC, options for BlackRock’s spot Bitcoin ETF have been approved. In a filing released on Friday, the SEC announced its approval of the world’s largest asset manager’s request to list options for the iShares Bitcoin Trust (IBIT). Nasdaq ISE, LLC would be responsible for listing and trading these options. The SEC’s decision to approve the options trading comes eight months after the initial launch of spot bitcoin ETFs, including BlackRock’s, Grayscale’s, and Fidelity’s. Other firms, such as Grayscale and Bitwise, are also seeking approval to list options for their respective spot bitcoin…

The Commodity Futures Trading Commission (CFTC) today announced that Judge Vince Chhabria of the U.S. District Court for the Northern District of California has ordered William Koo Ichioka, a New York resident formerly of San Francisco, to pay over $36 million in monetary relief. The order includes $31 million in restitution to defrauded victims and a $5 million civil monetary penalty. Ichioka was found guilty of engaging in a fraudulent foreign currency (forex) and digital asset scheme that began in 2018. He solicited investments from participants with false promises of a 10% return every 30 business days. However, instead of…

As the cryptocurrency market continues to rally following the Federal Reserve’s interest rate cut, analysts are anticipating a significant increase in Ethereum’s on-chain activity. Jasper De Maere, Research Lead at Outlier Ventures, suggested that a sustained bull market could drive a surge in Ethereum’s on-chain activity, primarily fueled by speculation and increased engagement in decentralized applications (dApps). De Maere highlighted the pent-up demand for projects seeking to launch on Ethereum, indicating that a wave of new offerings could emerge as market conditions improve, boosting activity across various cryptocurrency sectors. Regarding the potential for renewed adoption of the Ethereum network, De…