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๐Ÿš€Hey there, BTC enthusiasts! Let's take a quick detour and talk about Cardano (ADA) today. ๐ŸณWhales (those holding between 100 million and 1 billion ADA) have been busy, adding a whopping 11% to their balances in the past month, according to ITB's latest findings. This group now holds 6.71% of the entire ADA supply, showing their significant influence within the Cardano ecosystem. ๐Ÿ’ช Despite a lackluster month for the crypto market, ADA has seen a modest recovery, surging by nearly 6% in the past 24 hours to $0.456. Some experts are even predicting a potential rise to $7.80, mirroring its 2021 surge. ๐Ÿš€ Rumors are also swirling about a potential listing of ADA on the US-based cryptocurrency exchange, Gemini. If true, this could trigger a significant price rally for the token. ๐ŸŽ‰ However, it's not all sunshine and rainbows. ๐ŸŒฆ๏ธ User activity on the Cardano network has been on the decline since March, with daily transactions and active addresses both seeing significant drops. This raises concerns about the network's current usage and adoption rates. But hey, let's keep our fingers crossed and eyes on the prize! ๐Ÿคž๐Ÿ‘€ Remember, we're all about BTC here, but it's always good to keep an eye on the broader crypto market. Stay tuned for more updates! ๐Ÿ“ˆ๐Ÿš€

๐Ÿš€Hey there, BTC enthusiasts! Let's take a quick detour and talk about Cardano (ADA) today. ๐ŸณWhales (those holding between 100 million and 1 billion ADA) have been busy, adding a whopping 11% to their balances in the past month, according to ITB's latest findings. This group now holds 6.71% of the entire ADA supply, showing their significant influence within the Cardano ecosystem. ๐Ÿ’ช

Despite a lackluster month for the crypto market, ADA has seen a modest recovery, surging by nearly 6% in the past 24 hours to $0.456. Some experts are even predicting a potential rise to $7.80, mirroring its 2021 surge. ๐Ÿš€

Rumors are also swirling about a potential listing of ADA on the US-based cryptocurrency exchange, Gemini. If true, this could trigger a significant price rally for the token. ๐ŸŽ‰

However, it's not all sunshine and rainbows. ๐ŸŒฆ๏ธ User activity on the Cardano network has been on the decline since March, with daily transactions and active addresses both seeing significant drops. This raises concerns about the network's current usage and adoption rates. But hey, let's keep our fingers crossed and eyes on the prize! ๐Ÿคž๐Ÿ‘€

Remember, we're all about BTC here, but it's always good to keep an eye on the broader crypto market. Stay tuned for more updates! ๐Ÿ“ˆ๐Ÿš€

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๐Ÿ”ฅHot off the press! Solana's native token, SOL, is on a roll, folks! ๐Ÿš€ It's seen a whopping double-digit surge in just 24 hours. At the time of writing, SOL is sitting pretty at $161, after touching $165 earlier. Its 24-hour trading volume? A cool $3.7 billion, marking a 56.6% increase. Talk about a hot streak! ๐Ÿ˜Ž According to CoinGecko data, SOL is now the fifth largest cryptocurrency, boasting a market cap of $73.1 billion. ๐Ÿ’ช So, what's behind this meteoric rise? Well, a few recent developments in the crypto space have played a part. Robinhood Crypto, the digital asset trading platform, announced it will launch a Solana-staking feature in Europe. ๐ŸŽ‰ This means customers can now stake their Solana (SOL) holdings, earning rewards while maintaining the flexibility to unstake as they wish. In addition, Robinhood is offering a bonus program for new customers, where they can receive a 10% bonus on their net purchases during their first 30 days on the platform, with bonuses paid out in USDC stablecoins. ๐Ÿ’ฐ Meanwhile, Infinex, a decentralized perpetual contract trading platform, has also thrown its support behind Solana. The integration of Solana into the Infinex platform opens up new opportunities for users, with the Total Value Locked (TVL) on the platform reaching over 71 million USDC since its launch. Last but not least, Marginfi, a decentralized portfolio margining protocol for trading on Solana, revealed the L1 blockchainโ€™s first Liquidity Layer. This new layer offers a range of integrated, native yields, further boosting Solana's appeal. ๐ŸŒŸ As we wrap up, let's not forget the broader crypto market, which has risen by 4.7% in the last day to reach a total market cap of $2.5 trillion. Bitcoin (BTC) is currently trading at $66,000, marking a 5.7% increase in the last 24 hours, while Ethereum (ETH) has seen a 3.3% increase and is now trading at around $3,000. Stay tuned for more updates! ๐Ÿš€
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๐Ÿ”ฅHot off the press!๐Ÿ”ฅ Morgan Stanley, the sixth-largest banking firm in the US, has made a whopping $269 million investment in a spot Bitcoin ETF, according to its recently published Form 13-F. The investment was made in Grayscaleโ€™s GBTC during Q1 2024. ๐Ÿš€ This positions Morgan Stanley as one of the largest holders of GBTC, hot on the heels of Susquehanna International Groupโ€™s hefty $1.0 billion investment. It's not alone, though! Other big-name banks like Royal Bank of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS are also dipping their toes into the Bitcoin ETF pool. ๐ŸŠโ€โ™€๏ธ According to Bitwise CIO Matt Hougan, approximately 700 professional firms have invested nearly $5 billion in spot Bitcoin ETFs by the May 15 deadline. He likens this trend to the launch of gold ETFs in 2004, which was reported as the most successful ETF launch. ๐Ÿฅ‡ But it's not just the big guys getting in on the action. Retail investments make up a significant portion of the funds invested in spot Bitcoin ETFs. Current data shows that the total assets under management (AUM) are approximately $50 billion. ๐Ÿ’ฐ The crypto space is heating up with institutional players like New York advisory firm Pine Ridge Advisers, alternative asset manager Aristeia Capital LLC, Connecticut-based investment firm Graham Capital Management, and New York-based hedge fund manager Boothbay Fund Management all revealing substantial investments in spot Bitcoin ETFs. ๐ŸŒถ๏ธ So, keep your eyes peeled, Bitcoin enthusiasts! The future's looking bright! ๐ŸŒž
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๐Ÿš€๐ŸŽ‰ Bitcoin ETF inflows in the US hit a whopping $303 million on May 15, marking the highest inflow since May 3! This comes as BTC prices are skyrocketing, with the asset surging 7% over the past 24 hours, tapping $66,567 during early trading in Asia on Thursday morning. ๐Ÿ“ˆ๐Ÿ’ฐ Fidelity's FBTC fund led the pack, seeing $131 million in inflows for the day, its highest since March 26. Bitwiseโ€™s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4. Even Grayscaleโ€™s GBTC saw an inflow with $27 million returning to its flagship BTC fund following four months of outflows. ๐Ÿฆ๐Ÿ’ธ ๐Ÿ”๐Ÿ“Š The latest US Security and Exchange Commission filings reveal that one of the worldโ€™s largest hedge funds, Millennium Management, holds a staggering $2 billion spot Bitcoin ETF portfolio. This portfolio is comprised of $844.2 million in BlackRockโ€™s IBIT, $806.7 million in Fidelityโ€™s FBTC, $202 million in Grayscaleโ€™s GBTC, $45.0 million in Arkโ€™s ARKB, and $44.7 million in Bitwiseโ€™s BITB. Millennium is now the largest holder of IBIT and FBTC. ๐Ÿ’ผ๐Ÿ’ฐ ๐ŸŽฏ The big ETF inflow day coincided with big gains for bitcoinโ€™s price. BTC was changing hands for $65,900 at the time of writing, following a gain of 15% over the past fortnight, bringing it to just 10% from its all-time high. The crypto markets reacted positively to the April CPI data in the US, which came in lower than expected at 0.3%, increasing the likelihood of the Federal Reserve reducing rates and injecting more liquidity into markets, a good news for high-risk assets such as crypto. ๐ŸŽ‰๐Ÿš€
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