Author: Andrei Ionescu
In its latest weekly report, Matrixport emphasizes that the ongoing demand for bitcoin (BTC) and gold is driven by two major macroeconomic forces: the efforts by central banks to reduce reliance on the U.S. dollar and the rapid rise in sovereign debt levels. The report projects that these dynamics will continue to fuel the long-term growth of both assets, encouraging investors to consider including them in their portfolios. Strong Performance in 2024 So far in 2024, bitcoin and gold have significantly outperformed traditional assets. Bitcoin has surged 59% this year, while gold is up 31%, exceeding returns from bond ETFs…
The SOL/ETH pair on Binance has extended its impressive winning streak, rising over 15% since October 1. However, technical indicators now suggest the rally may have gone too far, signaling possible short-term corrections. SOL/ETH Pair Overbought on Strong Solana Momentum After recording gains for four consecutive months, the SOL/ETH spot pair set a new high of 0.069 ETH on Wednesday. The rise follows a surge in Solana network activity, driving renewed interest in the cryptocurrency. However, the 14-day Relative Strength Index (RSI)—which measures the speed and magnitude of price movements has climbed above 70, indicating overbought conditions. The RSI is…
The Aragon Association has announced plans to dissolve its operations, offering all Aragon (ANT) holders the opportunity to redeem their tokens for ETH at a fixed rate of 0.0025376 ETH per ANT. In line with the dissolution process, Binance will facilitate the ETH redemption for ANT holders with balances on the platform after October 27, 2024, 23:59 (UTC). Redemption Process Timeline Users unwilling to participate in the redemption must withdraw their ANT tokens before October 27, 2024, 23:59 (UTC). After this deadline, withdrawals of ANT will be unavailable, and users will automatically enter the redemption process. Important Notes for Users…
Japanese investment firm Metaplanet Inc. has raised 10 billion yen ($66 million) through a stock rights offering as part of its strategy to bolster bitcoin investments. The company disclosed on Wednesday that 13,774 shareholders participated in the 11th stock acquisition rights plan, allowing them to purchase shares at a discounted price. The subscription period ran from September 6 to October 15, with the total amount raised strengthening the firm’s financial position for future investments. Bitcoin-Centric Investment Strategy While the official filing did not detail specific plans for the new funds, Metaplanet has been actively increasing its bitcoin reserves since May,…
Bitcoin’s mining difficulty surged by 3.9% to a new all-time high of 95.67 trillion terahashes (T) on Tuesday, according to data from Glassnode. The increase reflects rising competition within the mining industry, which has been supported by record levels of hashrate and higher mining revenue—indicators that suggest a potential bitcoin bull run may be on the horizon. Mining Difficulty and Hashrate Reach New Highs Bitcoin’s mining difficulty, which determines how hard it is to mine a new block, has increased 27% so far this year, rising from 72T to 95.67T. Out of 22 difficulty adjustments in 2024, 13 have been…
Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a shift to net outflows on Tuesday, ending a seven-day run of inflows that had drawn in over $2.67 billion. According to SoSoValue data, 12 spot bitcoin ETFs recorded a total net outflow of $79.09 million. The outflows were driven entirely by Ark and 21Shares’ ARKB, which saw $134.74 million leave the fund. Fund Performance Breakdown Tuesday’s $79 million in net outflows reduced the cumulative inflows across the 12 bitcoin ETFs to $21.15 billion. Trading volume for these ETFs also declined, falling to $1.4 billion from $1.76 billion on Monday. The…
Binance has announced it will delist and cease trading for several digital assets as part of its routine evaluation process to ensure listed assets meet high industry standards. The delisting will take effect on November 6, 2024, at 03:00 (UTC). Tokens to Be Delisted Delisting Process and User Impact Why Binance is Delisting These Assets Binance reviews assets based on several key factors, including: The decision reflects Binance’s ongoing efforts to protect users and maintain market integrity by adapting to changing industry dynamics. Users are advised to check their accounts and ensure they have withdrawn or reallocated any affected holdings…
Avalanche has announced the launch of the Avalanche Card, offering users the ability to spend WAVAX, USDC, sAVAX, and other digital assets wherever Visa is accepted. Key Features of the Avalanche Card: The initiative aims to make cryptocurrency more accessible for everyday use, bridging the gap between digital assets and traditional payment systems. Join the Waitlist Today Users are invited to join the waitlist and be among the first to access the Avalanche Card. Full terms and conditions can be found through the link provided by Avalanche. This launch reflects Avalanche’s commitment to expanding its ecosystem and delivering innovative solutions…
Karpatkey, a leading onchain treasury management provider for decentralized autonomous organizations (DAOs), has raised $7 million in a new funding round. The fresh capital will be used to expand its service offerings to additional DAOs and strengthen outreach efforts to traditional financial institutions. The investment round attracted notable backers, including AppWorks Ventures and Wintermute Ventures, alongside high-profile angel investors such as Joe Lubin (ConsenSys), Stani Kuchelov (Aave), and Fernando Martinelli (Balancer Labs). Founded within GnosisDAO in 2021, Karpatkey became an independent entity earlier this year following a vote by GnosisDAO. Since its inception, the company has grown to manage over…
The scheduled listing of Scroll (SCR) has been postponed, with the trading start time pushed from 08:00 (UTC) to 09:00 (UTC) on October 22, 2024. The delay comes just hours before the original launch time, though no specific reason for the adjustment has been provided. Investors and traders will need to wait an additional hour before they can access SCR trading. Market participants are advised to adjust their plans accordingly and stay updated through official announcements for further changes. What is Scroll (SCR)? Scroll (SCR) is a Layer 2 scaling solution that enables Ethereum to perform faster and cheaper transactions.…