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HafeezHAQQ
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JUST IN: 🔥 Grayscale sends about 19,000 Bitcoin to Coinbase this morning as the US markets open 🔥 This is a breaking news headline about a large transfer of Bitcoin from Grayscale, the owner of the Grayscale Bitcoin Trust (GBTC), to Coinbase, a popular cryptocurrency exchange. The transfer coincides with the opening of the US stock markets, which may affect the price of Bitcoin. Grayscale has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12, 2024. This could indicate that investors are shifting their capital from GBTC, which has a high expense ratio of 1.5%, to other lower-cost spot Bitcoin ETFs, such as BlackRock’s IBIT and Fidelity’s FBTC. Some analysts also suggest that the outflows from GBTC may be due to profit-taking following the ETF conversion. The Bitcoin price has been fluctuating in response to these developments, dropping by 8% since the commencement of ETF trading. However, it has recently found support at $42,000 and is currently trading at $43,1001. The future of Bitcoin and the cryptocurrency market remains uncertain, as many factors could influence the supply and demand of the digital asset. Opportunity to some hodler. $BTC $ETH $BNB #GRAYSCALE

JUST IN: 🔥 Grayscale sends about 19,000 Bitcoin to Coinbase this morning as the US markets open 🔥

This is a breaking news headline about a large transfer of Bitcoin from Grayscale, the owner of the Grayscale Bitcoin Trust (GBTC), to Coinbase, a popular cryptocurrency exchange.

The transfer coincides with the opening of the US stock markets, which may affect the price of Bitcoin.

Grayscale has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12, 2024.

This could indicate that investors are shifting their capital from GBTC, which has a high expense ratio of 1.5%, to other lower-cost spot Bitcoin ETFs, such as BlackRock’s IBIT and Fidelity’s FBTC. Some analysts also suggest that the outflows from GBTC may be due to profit-taking following the ETF conversion.

The Bitcoin price has been fluctuating in response to these developments, dropping by 8% since the commencement of ETF trading. However, it has recently found support at $42,000 and is currently trading at $43,1001.

The future of Bitcoin and the cryptocurrency market remains uncertain, as many factors could influence the supply and demand of the digital asset. Opportunity to some hodler.

$BTC $ETH $BNB

#GRAYSCALE

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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Crypto News Update: January 27, 2024 Avalanche Foundation Embraces Meme Coin Culture With $100 Million Fund. The Avalanche Foundation announced a new initiative to support meme coins and NFTs on its platform. The fund will provide grants, marketing, and technical assistance to projects that meet the eligibility criteria. The foundation hopes to foster creativity and innovation in the crypto space by embracing the meme coin culture. The Avalanche Foundation is one of the leading supporters of decentralized applications and protocols in the crypto industry. Its native token, AVAX, has surged over 300% in the past year, reaching a market cap of over $40 billion. The fund is expected to attract more developers and users to the Avalanche ecosystem, as well as generate more awareness and adoption of crypto in general. Will you support meme culture or will it be a seasonal trend? $AVAX #Write2Earn
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Crypto News Update: January 25, 2024 Ethereum 2.0 staking surpasses $10 billion as ETH price hits new high Ethereum 2.0, the long-awaited upgrade to the second-largest cryptocurrency by market cap, has reached a new milestone as the total amount of ETH locked in staking contracts exceeds $10 billion. This represents more than 3.6 million ETH, or about 3.1% of the total supply, that are being staked by validators who run nodes to secure the network and earn rewards. The surge in staking coincides with the rise in ETH price, which has reached a new all-time high of $2,786 on January 25, 2024. The price increase is driven by several factors, including the growing demand for decentralized applications (dApps) that run on Ethereum, the anticipation of lower fees and higher scalability with Ethereum 2.0, and the emergence of decentralized finance (DeFi) protocols that offer various financial services without intermediaries. Ethereum 2.0 is expected to launch in phases, with the first phase (Phase 0) already live since December 1, 2020. Phase 0 introduced the Beacon Chain, which is the backbone of the new proof-of-stake (PoS) consensus mechanism that replaced the proof-of-work (PoW) system. What do you think of Ethereum staking and its impact on the crypto market? $ETH #ETH-ETF #ethstaking #Write2Earn
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JUST IN: Hong Kong Spot ETF OSL manager says Hong Kong could launch spot crypto ETF by mid-year. Gary Tiu, managing director and head of regulatory affairs at OSL, a crypto exchange licensed in Hong Kong, said that the special administrative region may issue the first spot crypto exchange-traded funds by the middle of this year, according to local media. Spot crypto ETFs aim to bring order, investor protection and connections between digital assets and traditional finance. The initiative signals a major turning point, as Hong Kong tries to take a leading role in the fast-growing market for crypto assets. Several fund firms are interested in launching such ETFs, which would allow investors to directly invest in cryptocurrencies without having to deal with the technical challenges of custody and security. The Securities and Futures Commission (SFC) of Hong Kong is actively considering such a possibility, while keeping an eye on the regulatory concerns that need to be cleared before giving the green light. $BTC $ETH #hongkongETF
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🥇 “Bitcoin is supported by the world’s largest computer network. This network surpasses in size the entirety of the cloud infrastructures that Amazon, Google and Microsoft have developed in the last 15 to 20 years.” Cathie Wood, founder, CEO and CIO of Ark Invest $BTC #CathieWood
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Since the launch of the US spot Bitcoin ETFs, the six largest European Bitcoin ETPs have seen a total outflow of $133.5 million, including $8.5 million today. This indicates that investors are rebalancing their portfolios to the more efficient and cost-effective US ETFs. Why is it more cost-effective for a Bitcoin investment by buying a Bitcoin ETF? A Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin and allows investors to buy and sell shares of the fund on a stock exchange. Bitcoin ETFs offer several advantages over direct methods of investing in Bitcoin, such as: - Lower fees: Bitcoin ETFs typically have lower expense ratios than Bitcoin ETPs, wallets, or exchanges. For example, the Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new Bitcoin funds, at 0.20%. - Higher liquidity: Bitcoin ETFs are traded on major stock exchanges, which means they have higher trading volumes and liquidity than other Bitcoin products. This makes it easier for newbie whale investors to buy and sell shares of the fund at any time. - Greater security: Bitcoin ETFs do not require investors to hold or store Bitcoin themselves, which eliminates the risk of hacking, theft, or loss of private keys. Bitcoin ETFs are also regulated, which provides more oversight and protection for investors. - Tech foolproof: Let's be honest. Not everyone interested in investing their fiat is tech-savvy. Just look at how many user errors costing lost of funds upwards of millions of dollars. ETFs serve this niche market for volatile digital assets. Therefore, you may want to consider buying a Bitcoin ETF as a more cost-effective solution for Bitcoin investment. However, you should also be aware of the risks and challenges involved in investing in Bitcoin, such as volatility, regulation, taxation, and competition. You should do your own research and consult a financial advisor before making any investment decisions. $BTC $ETH $BNB #BitcoinETF💰💰💰 #Europe
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