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Blockchain Caesars
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Nice bounce for
$FTM
but will only get my attention when it recovers the 54 cents support 🔥
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SHIB Burn Skyrockets 4000% Amid Shiba Inu ETF Buzz 🚨 Dogecoin’s prominent rival, Shiba Inu (SHIB), has garnered noteworthy attention across the crypto landscape. With an approximately 4000% surge in the SHIB burn rate today, July 12, the meme coin has continued to refine its market dynamics. Intriguingly, the spike in the burn rate comes amid a potential SHIB ETF buzz, sparking further discussions across the global crypto community. However, the meme coin currently illustrates signs of consolidation, adding a layer of intrigue among crypto market participants. SHIB Burn Rate Spikes 4000%, Shiba Inu ETF Optimism Persists As per data streamlined by the tracker Shibburn, a staggering 3988.31% burn rate surge was recorded today. This upswing is primarily attributable to the destruction of 71.18 million coins in the past 24 hours. Shiba Inu’s burn mechanism kills the total market supply, which now rests at 589.27 trillion coins. Notably, a whopping 410.72 trillion tokens have been burnt from the initial supply to date. Meanwhile, a recent buzz curated by Shiba Inu’s marketing lead Lucie on a potential SHIB ETF has garnered additional optimism toward the meme coin. CoinGape Media reported the executive to be highly bullish on a Shiba Inu exchange-traded product in the future. She also drew attention to the vital benefits of an ETF, further staging as bullish factors for the meme-based investment product. However, as mentioned above, SHIB entered the red zone today, aligning with the broader market trend. While writing, SHIB’s price slipped 1.85% to rest at $0.00001616. Its 24-hour lows and highs were $0.00001596 and $0.00001698, respectively. However, the weekly chart shows a 20.87% upswing in value, hinting today’s price fall is in line with the broader market trend. Besides, the token has shown signs of consolidation at the $0.000016 price mark since July 9. Also, the RSI moved along 41, hinting at a neutral market stance for the asset. #shiba⚡ #CPI_BTC_Watch #SOFR_Spike
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Animoca Brands to Integrate dApps and Boot BTCfi 🚨 Validators have player a crucial role in verifying and validating transactions while maintaining the ledger’s accuracy and thereby contributing to its overall security. Thus, by being a validator, Animoca Brands will be actively participating in the governance and stability of the Core blockchain. As a result, Animoc will be working on supporting Core’s vision of unlocking $1.3 trillion of trapped liquidity on the Bitcoin blockchain. Along with running the validators, Animoca Brands will collaborate with Core contributors and select certain dApps from its portfolio of Web3 investments. This initiative seeks to foster collaboration and innovation by harnessing the strengths of multiple projects to advance BTCfi. Speaking on the development, Brendon Sedo, Initial Contributor at Core, said: The unique architecture of the Core chain backed by the Satoshi Plus Consensus Mechanism aligns perfectly with Animoca Brands’ mission of building and enhancing opportunities for ecosystem builders and dApps. Additionally, the Core chain provides unparalleled security and scalability thereby making it an ideal choice for projects looking to leverage the benefits of decentralized finance on the Bitcoin network. The addition of Animoca Brands as a validator represents a significant step in Core’s quest to establish a secure, decentralized, and efficient blockchain network. Animoca Brands also brings substantial experience and expertise in validator operations across multiple blockchains, enhancing Core’s network capabilities. Currently, the Core blockchain has a total of 4,800 BTC stakes, valued at a staggering $180 million. These developments solidify Core Chain as a top choice for developers, users, and institutions in Web3, particularly in the BTCfi sector. #BTCFi #BTC☀ #SOFR_Spike #BinanceTournament
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Bitcoin ETFs achieve $15.5 billion in total inflows 🚨 Farside data shows that Bitcoin Exchange Traded Funds (ETFs) experienced another inflow, marking the fifth consecutive trading day of positive inflows. Bitcoin ETFs saw an inflow of $78.9 million. This trend was observed among the four largest ETF issuers, excluding Grayscale, which reported an outflow. BlackRock’s IBIT led the inflows with a substantial $72.1 million, bringing their total net inflows to an impressive $18.1 billion. Fidelity’s FBTC followed with an inflow of $32.7 million, raising its total net inflows to $9.6 billion. Bitwise’s BITB attracted $7.5 million, pushing its net inflows to $2.1 billion. ARK’s ARKB recorded an inflow of $4.3 million, resulting in total net inflows of $2.5 billion. In contrast, Grayscale’s GBTC experienced an outflow of $37.7 million, increasing its total outflows to $18.7 billion. Despite this, the overall picture for Bitcoin ETFs remains positive, with total inflows reaching $15.5 billion, according to Farside data, #Bitcoin❗ #ETFvsBTC #flowcoin
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Trump Vs Biden Election Outcome Unlikely To Deter Bipartisan Support For Crypto 🚨 In a recent interview, the CEOs of the Blockchain Association and the Crypto Council for Innovation shared their insights on crypto regulation after the Trump vs. Biden election outcome. Kristen Smith, CEO of the Blockchain Association, and Sheila Warren, CEO of the Crypto Council for Innovation, both attended a significant roundtable discussion led by Democratic Congressman Ro Khanna. The meeting, held across the street from the White House, saw the participation of several industry leaders and members of the administration. It aimed to bridge the gap between crypto advocates and federal regulators. Smith highlighted the productive nature of the meeting, acknowledging Congressman Khanna’s efforts in organizing the event. “It was a really productive meeting,” she said. Smith added, “For a long time, the crypto industry has felt like they haven’t been treated fairly by the Biden Administration, and I think this was a really important step towards increasing the dialogue between the agencies and us. We’re really excited to be a part of the discussion.” Will Trump Vs. Biden Election Result Impact Crypto? Moreover, recent political developments indicate a growing bipartisan interest in crypto. The Republican Party’s newly adopted policy platform explicitly supports crypto innovation. In addition, former President Donald Trump recently announced that he’ll speak at Bitcoin 2024 Conference. This stance is resonating with voters, as Smith noted: “There was a poll from about two months ago that said one in five swing state voters considers cryptocurrency an important issue in the upcoming election. Of the Republican voters who were not planning to vote for Donald Trump, 33% are considering doing so because of his new pro-crypto stance.” In addition, she noted that remarkable bipartisan support was noted for the FIT21 Act and SAB 121 revocation bill. Hence, Smith believes that Trump vs. Biden election result won’t hinted the support garnered. #Megadrop
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US SEC Eases Crypto Reporting For Banks And Brokerages 🚨 accounting rule, the U.S. Securities and Exchange Commission (SEC) is now offering some relaxation on crypto reporting for banks and brokerages. SEC Allows Banks to Exclude Crypto Holdings from Balance Sheets The U.S. securities regulator has now opened up a new pathway for banks and brokerages to avoid reporting their customers’ crypto holdings on their balance sheets. However, the banks need to make sure that they mitigate all associated risks. This is a welcome move in response to the controversial crypto-accounting guidance turning into a matter of strong debate in Congress. The SEC staff has already started offering guidance on certain arrangements that don’t make it mandatory to report a liability of crypto holdings on the balance sheets, said an SEC source familiar with the matter. Several top banking players have been in consultation with the US SEC over the last year. They have also received the approval to bypass the balance sheet reporting while making sure about the protection of customers’ assets in the case of bankruptcy. The SEC has demanded additional measures from the bank, including internal safeguards to enhance the protection of these holdings, the source told Bloomberg. Other Crypto Firms Likely to Benefit From the Rules The SEC’s stand on crypto accounting could be applicable to several other crypto companies in the US offering similar services to crypto holders. Lenders have been arguing that the strict accounting rules prevented them from offering crypto services since bigger balance sheets would trigger capital requirements from the banks, not the SEC. Bank and financial industry trade groups have been advocating for Congress to rescind the staff guidance, which functions as an agency rule. On Thursday, the House failed to override a presidential veto of a measure that sought to revoke Staff Accounting Bulletin 121, thereby leaving the accounting rule as it is. #CPI_BTC_Watch #BankingNews #Megadrop
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