Heyya! Welcome back to the latest edition of The Blockchain Bulletin. Significant developments were witnessed across the cryptocurrency landscape, with major announcements shaping the market’s future. Over the past 24 hours, Bitcoin faced $237.83 million in total liquidations. While the longs hit the hardest with $49.77M, the shorts saw $16.11M in liquidation. Further, the Longs liquidated at $1.65B, while the shorts leveraged at $2.56B. Read on to learn more exciting news.
Bitwise and Strive Collaborate on Bitcoin-Focused ETFs
Bitwise Bitcoin Standard Corporation and Strive have disclosed that they are developing ETFs to invest in companies with significant links to Bitcoin. This strategic plan creates an opportunity for institutional investors to diversify portfolios with digital assets while remaining within the framework of more conventional approaches. While Bitwise is focusing on firms that have large Bitcoin reserves in their treasuries, Strive, the brainchild of Vivek Ramaswamy, is concentrated on Bitcoin bonds from firms like MicroStrategy
India vs the US: The Crypto Regulatory Race
The ongoing battle for crypto regulation supremacy between India and the United States continues to intensify. While India has been vocal about its cautious approach, emphasizing consumer protection, the US has taken a fragmented but innovation-driven stance. Further, experts believe that such decisions will greatly impact the level of cryptocurrency usage across the world.
Tether Faces Potential EU Delisting Under MiCA Regulations
Tether’s USDT stablecoin faces scrutiny under the EU’s Markets in Crypto-Assets (MiCA) regulations that set a high bar in terms of transparency and reserve. Set to be enforced within the year-end, it has sparked mixed reactions among the community. While some have appreciated the initiative for creating certainty and confidence about the market, others are concerned it will direct negative impacts on Europe, including hindering the advancement and depth of the market.
Injective’s Tokenized GPU Resource Launch
Injective joins with Aethir to launch its first tokenized GPU resources. With this partnership, it aims to decentralize and disrupt the distribution of GPU resources for Web3 and artificial intelligence developers.
Bitget Burns 800M BGB Tokens
In a strategic move to bolster its tokenomics, Bitget has burned 800 million BGB tokens. The burn has positively impacted the token’s price and market capitalization, signaling robust confidence in the exchange’s ecosystem. On December 27th, it hit a new ATH of $8.49, bringing renewed optimism to traders and investors.
Cardano Hits Monthly Low
Cardano (ADA) token hit a monthly low of $0.86, raising concerns among investors. Market observers are speculating whether the price action will initiate a breakout or further consolidate to the downside in the upcoming days. Although technical indicators and open interest point to an active market, it depends on ADA’s ability to regain its position based on its next step.
Floki DAO Approves Liquidity for ETP Launch
Floki DAO has approved liquidity provisions for launching a Floki Exchange-Traded Product (ETP) in 2025. With this, the Floki ETP will be the second meme coin ETP on a regulated exchange. With CFTC recognizing FLOKI as a utility token, it is expected to bring greater utility and visibility to the meme token ecosystem.
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