Author: Andrei Ionescu
Global cryptocurrency exchange Binance has announced it will end Scroll (SCR) Pre-Market trading on October 21, 2024, at 09:00 (UTC) and officially list the token for spot trading on October 22, 2024, at 08:00 (UTC). New Spot Trading Pairs for SCR The following trading pairs will be introduced: The deposit address for SCR is now available, allowing users to start depositing the token from October 21, 10:00 (UTC) in preparation for trading. Withdrawals will open on October 23, 2024, at 08:00 (UTC). Key Listing Details The seed tag will be applied to the SCR listing, indicating that the token is…
Kraken, one of the largest crypto exchanges, has launched kBTC, a wrapped bitcoin (BTC) token. The token will initially be available on Ethereum and OP Mainnet, with 1:1 backing by bitcoin held in Kraken’s custody. kBTC: Bringing Bitcoin to DeFi Wrapped tokens like kBTC allow cryptocurrencies such as bitcoin and ether (ETH) to be used in decentralized finance (DeFi) ecosystems that typically run on other blockchains. With kBTC, Kraken aims to accelerate DeFi adoption, enabling BTC holders to trade, lend, and borrow on DeFi platforms without the need to sell their holdings. Mark Greenberg, Kraken’s global head of asset growth and management, commented: “We believe in an…
Ethereum co-founder Vitalik Buterin has outlined a long-term vision to achieve 100,000 transactions per second (TPS) across Ethereum’s Layer 1 (L1) and Layer 2 (L2) networks. Buterin detailed this goal in a blog post on Thursday, emphasizing that the rollup-centric scaling roadmap will remain central to Ethereum’s strategy but will require further refinements. “The Surge” and the Path Ahead Buterin described the upcoming phase of the roadmap as “The Surge,” which focuses on completing the rollup-based scaling vision while maintaining robustness, decentralization, and security at the L1 level. “Our task is to bring the rollup-centric roadmap to completion and solve…
Technical signals and investor activity suggest Bitcoin (BTC) is on track for a significant rally, with some analysts forecasting a move to $70,000 this month. A combination of rising demand, ETF inflows, and positive market sentiment is fueling the bullish outlook. Demand Rebounds, Pushing BTC Higher Bitcoin demand surged sharply last week, with apparent demand increasing by 177,000 BTC—the highest level since late April. This surge preceded a 5% rally, driving BTC to a ten-week high of over $67,800, according to CryptoQuant analysts led by Julio Moreno. “Expanding demand is essential for Bitcoin to sustain a rally toward new all-time…
U.S.-listed Bitcoin miners now account for a record 28.9% of the global network hashrate, reflecting significant growth and market consolidation, according to a report released by JPMorgan on Wednesday. This surge highlights the operational efficiency and financial advantages enjoyed by publicly listed mining companies. Network Hashrate Climbs, But Profitability Remains Flat The report noted that the total hashrate from the 14 U.S.-listed mining companies tracked by JPMorgan has surged by 70% year-to-date, from 80 EH/s to 194 EH/s. This growth far outpaced the 33% increase in the global Bitcoin network hashrate, indicating U.S.-listed miners are capturing more market share. Bitcoin…
Japanese investment firm Metaplanet Inc. has restructured its bitcoin put options, raising the strike price from $62,000 to $66,000, as part of its strategy to increase returns and capitalize on its bullish outlook for Bitcoin. The adjustment was disclosed on October 18, with the Tokyo-listed company announcing the decision to maintain the same maturity date of December 27. CEO Simon Gerovich explained that the move generated an additional JPY 57.9 million ($388,000) in premiums, bringing the total premium earnings for the year to JPY 272.5 million ($1.8 million). Strategic Options Roll-Up for Higher Yield A roll-up is a strategy in…
As the U.S. presidential election draws closer, Bitcoin’s historically inverse relationship with the dollar index (DXY) is under scrutiny. Market signals suggest that this long-standing dynamic may shift, with traders seeking upside exposure to Bitcoin (BTC) despite expectations of a stronger dollar. Bullish Sentiment for Bitcoin, Despite Dollar Strength Meanwhile, risk reversals on crypto options exchange Deribit for contracts expiring around the election date on November 8 also reflect a preference for calls, according to data from Amberdata. In contrast, FX options on the euro-dollar (EUR/USD) pair—a key DXY component—show a bearish bias with a 30-day risk reversal value of…
Binance has announced that it will support the rebranding of Kaia (KLAY) to Kaia (KAIA) and outlined key dates for the transition process, including the delisting of KLAY trading pairs and the launch of the new KAIA/USDT trading pair. Key Timeline of Changes Rebranding Details Impact on Binance Services Technical Support Binance will manage all technical aspects of the rebranding for users. For additional details, Binance encourages users to review project team announcements. This transition reflects Binance’s commitment to enhancing trading options and ensuring a seamless token swap for KLAY holders.
Spot bitcoin exchange-traded funds (ETFs) in the U.S. witnessed a significant inflow of $555.8 million on Monday, marking the largest daily inflows since June 4. Ten of the twelve spot bitcoin ETFs reported net inflows, with no outflows recorded, according to SoSoValue data. Fidelity and Bitwise Lead Inflows Fidelity’s FBTC topped the list, attracting $239.25 million, followed by Bitwise’s BITB with $100 million. Other funds, including those from VanEck, Valkyrie, Invesco, Franklin Templeton, and Grayscale’s mini trust, also saw positive inflows, while WisdomTree and Hashdex ETFs had zero flows for the day. The surge in inflows contributed to an active…
The Sui Foundation has denied allegations of insider selling following a recent price surge of the SUI token. On Monday, the non-profit organization behind the Sui blockchain refuted claims that employees or investors offloaded $400 million worth of tokens during the rally. “No insiders, neither employees of the Foundation or Mysten Labs (including Mysten Labs founders), nor ML investors, have sold $400M worth of tokens during this period, either individually or combined,” the Sui Foundation said in a statement. Allegations from Pseudonymous Analyst The allegations originated from crypto analyst Lightcrypto on X (formerly Twitter), who accused insiders of liquidating SUI…