Author: Andrei Ionescu
Bitcoin and ether, two of the largest cryptocurrencies, experienced sharp declines on Wednesday as fears of prolonged inflation weighed on global markets. Macro Fears Trigger a Market Pullback The decline follows macroeconomic signals suggesting persistent inflation and tighter monetary policies. “Both crypto and traditional markets are reacting to the Federal Reserve’s likely decision to maintain elevated interest rates for longer, compounded by inflation fears,” said Min Jung, an analyst at Presto Research. Federal Reserve and Market Sentiment Comments from Federal Reserve Chair Jerome Powell in December hinted at a steadfast approach to inflation control, dampening hopes for imminent rate cuts.…
Spot exchange-traded funds (ETFs) for Bitcoin and Ethereum recorded substantial inflows on January 6, highlighting increasing institutional interest in cryptocurrency investments as the new year begins. Bitcoin Spot ETFs Lead the Charge Bitcoin-focused ETFs saw a total net inflow of $987 million, marking a strong start to 2025. Among the leading ETFs, Fidelity’s FBTC stood out with a net inflow of $370 million, while BlackRock’s IBIT followed closely with $209 million in new investments. These inflows underscore the growing appeal of Bitcoin as a long-term asset for institutional investors, particularly as anticipation builds around favorable regulatory and economic conditions in…
As China grapples with a financial meltdown marked by a declining currency, plummeting stocks, and falling bond yields, some analysts believe capital flight from the country could fuel Bitcoin’s (BTC) ongoing rally. The Chinese yuan (CNY) has dropped to 3.22 per U.S. dollar, its weakest level since September 2023, extending a three-month losing streak. Despite interventions by the People’s Bank of China (PBOC), including stronger daily reference rates and tightened offshore liquidity, the yuan continues to slide. Chinese equities are also struggling. The CSI 300, a benchmark for mainland blue-chip stocks, hit its lowest level since September. Meanwhile, the ChiNEXT…
Upbit, a trusted global digital asset exchange, has announced plans to support trading for Sonic SVM (SONIC) in its KRW, BTC, and USDT markets. Liquidity and Trading Timeline Upbit stated that securing sufficient liquidity for stable trading of Sonic SVM (SONIC) would require some time. The platform plans to provide a detailed announcement at least one hour prior to the trading support activation. Deposits and withdrawals for SONIC will be supported on the Solana network. Users are advised to check the network carefully before initiating transactions. Trading Restrictions To ensure a smooth launch, Upbit will implement the following restrictions during…
Do Kwon, the South Korean entrepreneur behind the catastrophic collapse of the TerraUSD and Luna cryptocurrencies, pleaded not guilty to U.S. fraud charges on Thursday following his extradition from Montenegro. Kwon, co-founder of Singapore-based Terraform Labs, faces a nine-count indictment in Manhattan federal court, including charges of securities fraud, wire fraud, commodities fraud, and money laundering conspiracy. Prosecutors allege that Kwon, 33, orchestrated a series of deceptions that led to the loss of an estimated $40 billion in 2022, destabilizing the broader cryptocurrency market. Court Appearance and Detention At the hearing, Kwon appeared in court wearing an olive-green shirt and…
Binance Alpha, the exclusive pre-selection pool for Binance listings, has announced the addition of three new project tokens: ELIZA, METAV, and FLOCK. This initiative, which highlights projects with strong potential for future Binance listings, provides users with early access to explore innovative tokens before they reach the broader market. Binance Alpha serves as a launchpad for promising blockchain projects, offering early insights and exposure to Binance’s expansive global user base. Details of the Newly Added Tokens By introducing these tokens, Binance Alpha continues to position itself as a hub for identifying and supporting blockchain innovation. About Binance Alpha Binance Alpha…
Binance has announced changes to its Flexible Rate Loan offerings as part of its regular product review process. Starting January 3, 2025, at 5:00 a.m. UTC, the following tokens will no longer be available as loanable assets under Binance Loans (Flexible Rate): Key Details Commitment to Users Binance emphasized that the delisting decision is part of its efforts to offer the most valuable and competitive services. Regular reviews ensure that the platform’s offerings align with user needs and market conditions. For more details on Binance Loans and its available assets, visit the official Binance platform.
Spot Ethereum exchange-traded funds (ETFs) in the U.S. closed 2024 with a bang, recording over $2.08 billion in net inflows in December, marking a historic high for the asset class. This nearly doubles November’s net inflows of just over $1 billion, according to data from SoSoValue. BlackRock’s ETHA fund led the charge, accumulating a staggering $1.4 billion in net inflows, with 13 consecutive days of positive momentum. Fidelity’s FETH fund followed with an impressive $752 million in inflows. Conversely, Grayscale’s ETHE fund bucked the trend, reporting net outflows of $274 million for the month. “The significant inflows into spot ETH…
Solana-based memecoin launchpad Pump.fun has exceeded $300 million in deposits to cryptocurrency exchange Kraken, according to on-chain data. On January 1, 2025, the platform moved another 120,000 SOL, valued at approximately $14.76 million, bringing its total deposits to 1,500,893 SOL. Transaction Highlights Declining Metrics Pump.fun’s recent transfer comes amid a notable decline in key metrics: Scrutiny and Controversy The decline in activity comes as Pump.fun faces increasing scrutiny: Future Outlook While Pump.fun’s substantial deposits to Kraken highlight its ongoing activity in the crypto space, the platform’s declining metrics and controversies underscore challenges facing the broader Solana ecosystem and the memecoin…
Binance, the world’s largest cryptocurrency exchange, announced significant updates to its token categorization process, extending its Monitoring Tag to new tokens, removing others, and updating Seed Tags for several assets. These changes will take effect on January 2, 2025, following the platform’s latest project review. Tokens Added to the Monitoring Tag The following tokens will now carry the Monitoring Tag, indicating higher volatility and associated risks: Tokens Removed from the Monitoring Tag The following tokens have shown improved stability and performance and will no longer carry the Monitoring Tag: Tokens Removed from the Seed Tag The following tokens will have…