BitcoinOnEthereum
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📈 These 3 coins came back from the dead in 2023
The crypto landscape witnessed a remarkable turnaround in 2023, with three coins staging impressive comebacks after facing near-extinction. Here's a closer look at the phoenixes that rose from the ashes:
1. Solana's Spectacular Rebound 🚀
The Journey: Solana (SOL) marked the most significant comeback, soaring by an astounding 1,215% from its low of $8.27 in December 2022.Resilience Amid Turmoil: Despite a 95% fall in 2022, Solana's resilience during FTX's bankruptcy asset sales, coupled with robust decentralized application usage and improved network stability, fueled its resurgence.
Factors at Play: Mobile accessibility, efficient transactions, increased market demand, and a focus on decentralized applications contributed to Solana's revival.
2. Tron's Resilience Post-Covid Crash 🌐
Recovery Statistics: Tron (TRX) bounced back impressively, surging over 1,270% since its bottom near $0.0076 during the crypto market's 2018–2020 bear cycle.
DeFi Dominance: Tron's resurgence aligned with its strong performance in decentralized finance (DeFi), with a notable increase in total value locked (TVL) reaching over 76 billion TRX (~$8 billion).Token-Burning Boost: Engaging in token-burning activities, coupled with becoming the primary blockchain for stablecoin Tether (USDT), contributed to Tron's price push.
3. Bitcoin's Dominance and the Altcoin Surge ₿
Market Overview: The broader crypto market experienced a significant recovery in 2023, with Bitcoin leading the way, boasting a remarkable 160% year-to-date gain.Altcoin Rally: The bull market uplifted various altcoins, showcasing substantial gains and contributing to the overall resurgence of the crypto space.
🚀 Join The Crypto Renaissance: Stay tuned with The Blockopedia for more insights and updates!
#BitcoinETFs! #BitcoinPriceDrop #BitcoinOnEthereum #cryptocurrency #crypto2024
The crypto landscape witnessed a remarkable turnaround in 2023, with three coins staging impressive comebacks after facing near-extinction. Here's a closer look at the phoenixes that rose from the ashes:
1. Solana's Spectacular Rebound 🚀
The Journey: Solana (SOL) marked the most significant comeback, soaring by an astounding 1,215% from its low of $8.27 in December 2022.Resilience Amid Turmoil: Despite a 95% fall in 2022, Solana's resilience during FTX's bankruptcy asset sales, coupled with robust decentralized application usage and improved network stability, fueled its resurgence.
Factors at Play: Mobile accessibility, efficient transactions, increased market demand, and a focus on decentralized applications contributed to Solana's revival.
2. Tron's Resilience Post-Covid Crash 🌐
Recovery Statistics: Tron (TRX) bounced back impressively, surging over 1,270% since its bottom near $0.0076 during the crypto market's 2018–2020 bear cycle.
DeFi Dominance: Tron's resurgence aligned with its strong performance in decentralized finance (DeFi), with a notable increase in total value locked (TVL) reaching over 76 billion TRX (~$8 billion).Token-Burning Boost: Engaging in token-burning activities, coupled with becoming the primary blockchain for stablecoin Tether (USDT), contributed to Tron's price push.
3. Bitcoin's Dominance and the Altcoin Surge ₿
Market Overview: The broader crypto market experienced a significant recovery in 2023, with Bitcoin leading the way, boasting a remarkable 160% year-to-date gain.Altcoin Rally: The bull market uplifted various altcoins, showcasing substantial gains and contributing to the overall resurgence of the crypto space.
🚀 Join The Crypto Renaissance: Stay tuned with The Blockopedia for more insights and updates!
#BitcoinETFs! #BitcoinPriceDrop #BitcoinOnEthereum #cryptocurrency #crypto2024
🚀 Bitwise Makes a Splash in Spot Bitcoin ETF Race with $200 Million Seed Fund
As the race for approval of Spot Bitcoin ETFs intensifies, asset manager Bitwise is emerging as a strong contender, potentially surpassing even the giant BlackRock in seed funds for their respective ETFs.
Bitwise's Bitcoin ETF Gains Momentum:
In a recent amendment to its S-1 filing with the Securities and Exchange Commission (SEC), Bitwise revealed a substantial development. An investor has expressed interest in seeding Bitwise's ETF with a whopping $200 million upon launch. This move, as highlighted by Bloomberg analyst Eric Balchunas, significantly outpaces BlackRock's initial seed fund of $10 million, describing it as a "huge help" for Bitwise in the early stages of the competition.
Early Advantage in the Race:
The simultaneous potential approval of multiple ETF applications by the SEC makes this sizable seed fund a strategic advantage for Bitwise. Creating $200 million worth of shares allows Bitwise to be well-positioned to meet client demands from the outset, potentially giving it a head start in the ETF race.
Strategic Move for Public Interest:
Bitwise has been assertive in its intention to lead the way from the start, evident in its Bitcoin ETF commercial. The $200 million seed fund not only positions Bitwise favorably among competitors but also generates early interest and establishes it as a preferred choice among investors before the official launch.
AP Mystery and Strategic Silence:
Interestingly, Bitwise did not disclose the authorized participant (AP) for its ETF in the filing. The AP acts as a crucial intermediary between the ETF investor and issuer, responsible for creating and redeeming ETF shares.
📈 Stay tuned for more updates on the evolving landscape of Bitcoin ETFs. Follow The Blockopedia for real-time insights into the crypto market! 🌐
#BitcoinETFs! #BitcoinPriceDrop #BitcoinOnEthereum
#cryptocurrency #crypto2024
As the race for approval of Spot Bitcoin ETFs intensifies, asset manager Bitwise is emerging as a strong contender, potentially surpassing even the giant BlackRock in seed funds for their respective ETFs.
Bitwise's Bitcoin ETF Gains Momentum:
In a recent amendment to its S-1 filing with the Securities and Exchange Commission (SEC), Bitwise revealed a substantial development. An investor has expressed interest in seeding Bitwise's ETF with a whopping $200 million upon launch. This move, as highlighted by Bloomberg analyst Eric Balchunas, significantly outpaces BlackRock's initial seed fund of $10 million, describing it as a "huge help" for Bitwise in the early stages of the competition.
Early Advantage in the Race:
The simultaneous potential approval of multiple ETF applications by the SEC makes this sizable seed fund a strategic advantage for Bitwise. Creating $200 million worth of shares allows Bitwise to be well-positioned to meet client demands from the outset, potentially giving it a head start in the ETF race.
Strategic Move for Public Interest:
Bitwise has been assertive in its intention to lead the way from the start, evident in its Bitcoin ETF commercial. The $200 million seed fund not only positions Bitwise favorably among competitors but also generates early interest and establishes it as a preferred choice among investors before the official launch.
AP Mystery and Strategic Silence:
Interestingly, Bitwise did not disclose the authorized participant (AP) for its ETF in the filing. The AP acts as a crucial intermediary between the ETF investor and issuer, responsible for creating and redeeming ETF shares.
📈 Stay tuned for more updates on the evolving landscape of Bitcoin ETFs. Follow The Blockopedia for real-time insights into the crypto market! 🌐
#BitcoinETFs! #BitcoinPriceDrop #BitcoinOnEthereum
#cryptocurrency #crypto2024
---Will NFT activity rebound to an all-time high in 2024?---
Monthly NFT (Non-Fungible Token) volumes are poised to achieve a fresh record high as cryptocurrency speculators re-enter the market, showing a preference for leading NFT collections on $ETH , enhanced crypto games, and innovative offerings based on $BTC .
Despite Ethereum's historical dominance with a nearly 50-1 ratio over Bitcoin in primary NFT sales, the Ordinals protocol for Bitcoin and the emergence of layer 2 chains on the Bitcoin network are expected to contribute to a sustained resurgence in Bitcoin network fees.
The ratio of primary NFT issuance between ETH and BTC is projected to converge closer to 3-1 by the end of 2024. Stacks (STX), a smart contract platform secured by Bitcoin, is anticipated to ascend to a position within the top 30 coins by market capitalization, currently positioned at 54th place.
#NFT #EthereumRally #BitcoinOnEthereum
Monthly NFT (Non-Fungible Token) volumes are poised to achieve a fresh record high as cryptocurrency speculators re-enter the market, showing a preference for leading NFT collections on $ETH , enhanced crypto games, and innovative offerings based on $BTC .
Despite Ethereum's historical dominance with a nearly 50-1 ratio over Bitcoin in primary NFT sales, the Ordinals protocol for Bitcoin and the emergence of layer 2 chains on the Bitcoin network are expected to contribute to a sustained resurgence in Bitcoin network fees.
The ratio of primary NFT issuance between ETH and BTC is projected to converge closer to 3-1 by the end of 2024. Stacks (STX), a smart contract platform secured by Bitcoin, is anticipated to ascend to a position within the top 30 coins by market capitalization, currently positioned at 54th place.
#NFT #EthereumRally #BitcoinOnEthereum
FTX Estate Sells Majority of Grayscale Bitcoin ETF
Grayscale Faces Backlash In Market Meltdown from Bitcoin ETF Sell-Offs
Investors have offloaded more than $2 billion worth of the Grayscale Bitcoin Trust (GBTC). The information from two sources familiar with the situation reveals that a significant portion of this selling activity is attributed to FTX’s bankruptcy estate, which disposed of 22 million shares.
While a series of spot bitcoin ETFs began trading on January 11, following the long-awaited approval from the U.S. Securities and Exchange Commission (SEC), the Grayscale fund, in its less attractive closed-end fund structure, had been in existence for a decade.
It had amassed nearly $30 billion in assets by the time the SEC approved its conversion to an ETF, along with granting approval for 10 newly created bitcoin ETFs.
FTX’s Impact on GBTC Outflows and ETF Approval Repercussions
In the wake of the recent approval and launch of new bitcoin exchange-traded funds (ETFs) by prominent firms like BlackRock and Fidelity, the Grayscale Bitcoin Trust (GBTC) has experienced substantial outflows, with billions of dollars in bitcoin being withdrawn.
Notably, data examined by CoinGabbar indicates that FTX played a significant role in this exodus, liquidating 22 million shares valued at nearly $1 billion, ultimately reducing FTX’s ownership of GBTC to zero.
The approval of bitcoin ETFs was anticipated with great optimism, particularly as major financial institutions such as BlackRock and Fidelity entered the space. However, contrary to expectations, the price of Bitcoin (BTC) has seen a decline following the SEC’s approval. Bitcoin ETFs were initially hailed as a more accessible avenue for mainstream investors to enter the bitcoin market, fueling optimistic projections for BTC’s value.
With FTX completing the sale of its considerable GBTC holdings, which marked a unique event in the context of a bankruptcy estate liquidating assets, there is speculation that selling pressure on bitcoin could ease. As the market adjusts to this development, observers are keen to see how it might influence the broader cryptocurrency landscape.
Key Factors Driving the Intense Criticism of Grayscale and Contributing to the Market Downturn
The Grayscale Bitcoin Trust (GBTC) has become a focal point in recent market dynamics, marked by investors offloading over $2 billion worth of assets. A significant catalyst behind this selling spree is attributed to FTX’s bankruptcy estate, which notably liquidated 22 million GBTC shares, totaling close to $1 billion and reducing FTX’s ownership to zero.
The market backdrop reveals a broader context, where the approval and launch of new bitcoin exchange-traded funds (ETFs) by major players like BlackRock and Fidelity were anticipated to bring optimism. We have also seen a good amount of trading volume on the first day of Spot Bitcoin ETF approval.
However, a contrasting reality unfolded as Bitcoin (BTC) experienced a decline in value post-SEC approval. The initial enthusiasm surrounding Bitcoin ETFs as a more accessible avenue for mainstream investors did not translate into the expected surge in BTC prices.
$BTC #BTCETF #BitcoinOnEthereum #cryptocurrency
Investors have offloaded more than $2 billion worth of the Grayscale Bitcoin Trust (GBTC). The information from two sources familiar with the situation reveals that a significant portion of this selling activity is attributed to FTX’s bankruptcy estate, which disposed of 22 million shares.
While a series of spot bitcoin ETFs began trading on January 11, following the long-awaited approval from the U.S. Securities and Exchange Commission (SEC), the Grayscale fund, in its less attractive closed-end fund structure, had been in existence for a decade.
It had amassed nearly $30 billion in assets by the time the SEC approved its conversion to an ETF, along with granting approval for 10 newly created bitcoin ETFs.
FTX’s Impact on GBTC Outflows and ETF Approval Repercussions
In the wake of the recent approval and launch of new bitcoin exchange-traded funds (ETFs) by prominent firms like BlackRock and Fidelity, the Grayscale Bitcoin Trust (GBTC) has experienced substantial outflows, with billions of dollars in bitcoin being withdrawn.
Notably, data examined by CoinGabbar indicates that FTX played a significant role in this exodus, liquidating 22 million shares valued at nearly $1 billion, ultimately reducing FTX’s ownership of GBTC to zero.
The approval of bitcoin ETFs was anticipated with great optimism, particularly as major financial institutions such as BlackRock and Fidelity entered the space. However, contrary to expectations, the price of Bitcoin (BTC) has seen a decline following the SEC’s approval. Bitcoin ETFs were initially hailed as a more accessible avenue for mainstream investors to enter the bitcoin market, fueling optimistic projections for BTC’s value.
With FTX completing the sale of its considerable GBTC holdings, which marked a unique event in the context of a bankruptcy estate liquidating assets, there is speculation that selling pressure on bitcoin could ease. As the market adjusts to this development, observers are keen to see how it might influence the broader cryptocurrency landscape.
Key Factors Driving the Intense Criticism of Grayscale and Contributing to the Market Downturn
The Grayscale Bitcoin Trust (GBTC) has become a focal point in recent market dynamics, marked by investors offloading over $2 billion worth of assets. A significant catalyst behind this selling spree is attributed to FTX’s bankruptcy estate, which notably liquidated 22 million GBTC shares, totaling close to $1 billion and reducing FTX’s ownership to zero.
The market backdrop reveals a broader context, where the approval and launch of new bitcoin exchange-traded funds (ETFs) by major players like BlackRock and Fidelity were anticipated to bring optimism. We have also seen a good amount of trading volume on the first day of Spot Bitcoin ETF approval.
However, a contrasting reality unfolded as Bitcoin (BTC) experienced a decline in value post-SEC approval. The initial enthusiasm surrounding Bitcoin ETFs as a more accessible avenue for mainstream investors did not translate into the expected surge in BTC prices.
$BTC #BTCETF #BitcoinOnEthereum #cryptocurrency