Author: Andrei Ionescu
Bitcoin (BTC) has the highest correlation with small-cap technology stocks, specifically those in the Russell 2000 tech sector, according to a new JPMorgan report. In an analysis led by Nikolaos Panigirtzoglou, JPMorgan analysts found that both Bitcoin and altcoins exhibit a strong correlation with small-cap tech stocks, though Bitcoin’s correlation is consistently higher. “The fact that crypto is more correlated with smaller rather than the largest tech stocks makes sense due to crypto’s reliance on venture capital (VC) funding and blockchain innovation, which is typically the focus of smaller tech firms rather than industry giants,” the analysts wrote. Crypto-Equity Market…
Avalanche’s December upgrade, Avalanche9000, has significantly lowered transaction costs, resulting in a 38% increase in daily activity on the network. Since the upgrade went live on Dec. 16, transaction fees—commonly known as gas fees—have dropped by an average of 75%, according to data from Flipside and Bitquery. The number of daily transactions has surged to an average of 354,691, reflecting greater network usage. A Major Cost-Cutting Overhaul Avalanche, a DeFi-focused proof-of-stake blockchain and the fifth-largest smart contract platform by market cap, operates a multichain structure: The upgrade included seven improvement proposals, with ACP-125 making one of the biggest impacts by…
Tokyo-listed Metaplanet has announced plans to accumulate 21,000 Bitcoin (BTC) by the end of 2026, marking one of the largest corporate Bitcoin acquisitions in Asia. The initiative, dubbed the “21 Million Plan,” involves the issuance of 21 million shares via moving strike warrants to raise approximately 116.65 billion yen ($740 million). The company aims to accumulate 10,000 BTC by the end of 2025 and 21,000 BTC by 2026, positioning itself as one of the world’s largest corporate holders of Bitcoin. A Bold Treasury Strategy Metaplanet currently holds over $180 million in assets and has adopted a Bitcoin-first treasury approach. Unlike…
Governor Ales Michl to Present Bitcoin Investment Plan to Board The Czech National Bank (CNB) is considering adding Bitcoin (BTC) to its reserves as part of a diversification strategy, according to an interview with Financial Times (FT). Governor Ales Michl will present the proposal to the bank’s board on Thursday, which, if approved, could see the central bank allocate 5% of its $146.13 billion reserves to the world’s largest cryptocurrency. Bitcoin as a Diversification Tool “For the diversification of our assets, Bitcoin seems good,” Michl said, as quoted by FT and Reuters. He noted the growing institutional interest in Bitcoin,…
Bitcoin (BTC) options on the Chicago Mercantile Exchange (CME) have reached their most bullish levels since the November 2024 U.S. presidential election, signaling growing optimism among traders. Renewed inflows into Bitcoin exchange-traded funds (ETFs) are further fueling expectations of new price highs for the world’s largest cryptocurrency. Bullish Options Activity On Tuesday, CME’s bitcoin options market showed heightened bullish sentiment, with traders flocking to purchase call options—derivatives offering the potential for asymmetric upside exposure. The 30-day topside skew, a measure of the difference in implied volatility between calls and puts, hit 4.4%, its highest level since early November, according to…
Jupiter, a Solana-based decentralized exchange aggregator, is set to carry out its highly anticipated “Jupuary” airdrop later today, distributing nearly 700 million JUP tokens valued at $616 million to its community. Eligibility and Allocation Ahead of the airdrop, Jupiter released an eligibility checker, allowing users to confirm their status before claiming rewards. The token distribution targets two key groups: Annual Airdrop Tradition This is Jupiter’s second airdrop, following its inaugural distribution of nearly 1 billion JUP tokens last year. The platform plans to continue its airdrops annually every January through 2027. Jupiter’s Growing Ecosystem Jupiter currently has a circulating supply…
Binance has announced support for the upcoming token swap and rebranding of Litentry (LIT) to Heima (HEI), with several key changes to tokenomics and trading processes. Key Changes in Tokenomics Trading Timeline Deposits and Withdrawals After the rebranding, Binance will no longer support deposits or withdrawals of LIT tokens. Token Swap Details Advice for Users For further details and updates, users are encouraged to monitor Binance’s official announcements.
Ethereum’s native cryptocurrency, Ether (ETH), is falling behind rival tokens as President Donald Trump’s venture into the memecoin market has bolstered competing blockchains like Solana. The Ether-to-Bitcoin price ratio dropped to its lowest level since 2021 on Monday, while Bitcoin hit a record high of $109,241, according to Bloomberg data. Meanwhile, Solana’s native token reached new highs over the weekend, driven by frenzied trading of memecoins launched on its network. Trump Memecoins Spark Solana Surge The rally in Solana was fueled by two memecoins launched on its blockchain by Trump and First Lady Melania Trump in the lead-up to his…
Upbit, a leading global digital asset exchange, has announced the addition of VeThor Token (VTHO) to its trading platform. Users can now trade VTHO in both KRW and USDT markets, with trading set to begin on January 21, 2025, at the following times (UTC): Deposits for VTHO will be available within an hour of the announcement, with strict guidelines for ensuring compatibility with the VeChain blockchain network. Trading Restrictions at Launch To ensure a stable trading environment, Upbit will implement the following restrictions during the initial trading phase: Market Data for VTHO About VeThor Token (VTHO) VTHO is the gas…
The Trump family’s cryptocurrency venture, World Liberty, conducted a series of high-profile transactions today involving Wrapped Bitcoin (WBTC), Ethereum (ETH), and Tether (USDT), as reported on-chain. Key Transactions Using the decentralized Cow Protocol, the project executed the following: Following these swaps, 11,917.635 ETH (worth about $38.396 million) was transferred to Coinbase Prime, a platform tailored for institutional crypto trading and custody services. Significance of the Transactions The series of large-scale movements highlights significant activity from the Trump family’s crypto initiative, World Liberty. This could indicate strategic portfolio adjustments, potential fundraising efforts, or preparations for institutional-scale activities. Observers in the crypto…