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Bitcoin Soars Past $71K, Fueled by ETF Inflows and Bull Run Hopes
Bitcoin (BTC) surged above $71,000 in the last 24 hours, marking a new high since May 21st. Ethereum (ETH) also rose 1%, reaching $3,800 as the broader crypto market rallies.
ETF Boost Drives Bitcoin Price
The key factor behind the surge is likely the sustained inflow of capital into spot Bitcoin exchange-traded funds (ETFs). These investment vehicles have attracted over $880 million in net capital inflows on Tuesday, marking their 17th consecutive positive day. This is the best day for inflows since March 12th and the second-best since BTC ETFs launched.
Analysts like Eric Balchunas of ETF Bloomberg point to the impressive year-to-date total of over $15 billion in BTC ETFs, rivaling established funds like SPY and VOO.
Altcoins Join the Rally
The optimism extends to altcoins, with a broad-based market upswing. Uniswap (UNI) leads the pack, fueled by a recent cryptic message from Uniswaps Labs. Binance Coin (BNB) also surged nearly 12%, nearing its all-time high and exceeding a $100 billion market cap thanks to new launches on Binance Launchpool.
Other notable gainers include toncoin (TON), shiba inu (SHIB), solana (SOL), dogecoin (DOGE), and avalanche (AVAX). XRP and Cardano (ADA) saw more moderate increases.
Analyst Optimism and Ethereum's Future
"The resilience of BTC ETFs after recent sell-offs is impressive," said Balchunas. "This surge feels like a turning point."
While inflows slowed down after the initial Bitcoin explosion in March, they have averaged $140 million daily since May 16th, according to Farside Investors.
The positive sentiment surrounding Bitcoin extends to Ethereum as well. Investors anticipate the launch of spot ETH ETFs, which could propel the leading altcoin to similar highs. A recent report by K33 Research predicts net inflows of $4 billion for ETH investment products in the second half of 2024, potentially leading to significant gains compared to Bitcoin.
Market Outlook and Potential Risks.
Bitcoin (BTC) surged above $71,000 in the last 24 hours, marking a new high since May 21st. Ethereum (ETH) also rose 1%, reaching $3,800 as the broader crypto market rallies.
ETF Boost Drives Bitcoin Price
The key factor behind the surge is likely the sustained inflow of capital into spot Bitcoin exchange-traded funds (ETFs). These investment vehicles have attracted over $880 million in net capital inflows on Tuesday, marking their 17th consecutive positive day. This is the best day for inflows since March 12th and the second-best since BTC ETFs launched.
Analysts like Eric Balchunas of ETF Bloomberg point to the impressive year-to-date total of over $15 billion in BTC ETFs, rivaling established funds like SPY and VOO.
Altcoins Join the Rally
The optimism extends to altcoins, with a broad-based market upswing. Uniswap (UNI) leads the pack, fueled by a recent cryptic message from Uniswaps Labs. Binance Coin (BNB) also surged nearly 12%, nearing its all-time high and exceeding a $100 billion market cap thanks to new launches on Binance Launchpool.
Other notable gainers include toncoin (TON), shiba inu (SHIB), solana (SOL), dogecoin (DOGE), and avalanche (AVAX). XRP and Cardano (ADA) saw more moderate increases.
Analyst Optimism and Ethereum's Future
"The resilience of BTC ETFs after recent sell-offs is impressive," said Balchunas. "This surge feels like a turning point."
While inflows slowed down after the initial Bitcoin explosion in March, they have averaged $140 million daily since May 16th, according to Farside Investors.
The positive sentiment surrounding Bitcoin extends to Ethereum as well. Investors anticipate the launch of spot ETH ETFs, which could propel the leading altcoin to similar highs. A recent report by K33 Research predicts net inflows of $4 billion for ETH investment products in the second half of 2024, potentially leading to significant gains compared to Bitcoin.
Market Outlook and Potential Risks.
Devcon Southeast Asia 2024: Unlocking the Future of Ethereum in the Heart of Bang
The Ethereum Foundation is set to ignite a groundbreaking spark in the vibrant city of Bangkok, Thailand, from November 12 to 15, 2024, as it proudly unveils Devcon VII, the much-anticipated Ethereum Developers Conference. This announcement not only reveals the date and location but marks a strategic move aligning with the region’s immense potential and the burgeoning adoption of cryptocurrencies.
https://www.geekmetaverse.com/devcon-southeast-asia-2024/
#devcon #BlockchainEvents #Devcon7 #DC7SEA #web3 #ethereum #eth #EthereumETF #web3event #web3conference #bangkok #asia #Thailand #devconsoutheastasia #DevconVII
The Ethereum Foundation is set to ignite a groundbreaking spark in the vibrant city of Bangkok, Thailand, from November 12 to 15, 2024, as it proudly unveils Devcon VII, the much-anticipated Ethereum Developers Conference. This announcement not only reveals the date and location but marks a strategic move aligning with the region’s immense potential and the burgeoning adoption of cryptocurrencies.
https://www.geekmetaverse.com/devcon-southeast-asia-2024/
#devcon #BlockchainEvents #Devcon7 #DC7SEA #web3 #ethereum #eth #EthereumETF #web3event #web3conference #bangkok #asia #Thailand #devconsoutheastasia #DevconVII
Crypto Sector Trends in 2024: A Deep Dive according to Binance Research
Bitcoin's continued reign, a potential institutional influx via ETFs, and the ever-influential halving event paint a promising picture for 2024. But while the bull market whispers are tempting, uncertainty remains. Let's dive deeper into the trends that could shape the digital currency landscape:
Bitcoin: Still King, Still Evolving
2023 was kind to Bitcoin, and 2024 could be even kinder. A US Bitcoin spot ETF approval could unlock a flood of institutional money, reshaping the market. Meanwhile, the upcoming halving promises to squeeze supply and potentially inflate value.
Beyond Bitcoin: A Tapestry of Trends
Ordinals and Inscriptions: These controversial features are carving their niche in blockchains, adding new possibilities and sparking debates.
Stablecoins: Anchoring the Storm: Their crucial role in facilitating crypto trading ensures their continued evolution and importance.
NFTs and DeFi: A Phoenix Rising: The NFT market rebounds, bolstered by growing interest and exciting innovations. DeFi, meanwhile, marches on, pushing the boundaries of decentralized finance.
Protocol Fees: Cost-Cutting Crusade: Optimizing fees and strengthening network foundations are high on the agenda, ensuring smoother transactions and a more robust ecosystem.
SocialFi: Blurring the Lines: DeFi meets social media in this nascent trend, bringing finance and social engagement closer than ever.
#binance #BinanceResearch
Bitcoin's continued reign, a potential institutional influx via ETFs, and the ever-influential halving event paint a promising picture for 2024. But while the bull market whispers are tempting, uncertainty remains. Let's dive deeper into the trends that could shape the digital currency landscape:
Bitcoin: Still King, Still Evolving
2023 was kind to Bitcoin, and 2024 could be even kinder. A US Bitcoin spot ETF approval could unlock a flood of institutional money, reshaping the market. Meanwhile, the upcoming halving promises to squeeze supply and potentially inflate value.
Beyond Bitcoin: A Tapestry of Trends
Ordinals and Inscriptions: These controversial features are carving their niche in blockchains, adding new possibilities and sparking debates.
Stablecoins: Anchoring the Storm: Their crucial role in facilitating crypto trading ensures their continued evolution and importance.
NFTs and DeFi: A Phoenix Rising: The NFT market rebounds, bolstered by growing interest and exciting innovations. DeFi, meanwhile, marches on, pushing the boundaries of decentralized finance.
Protocol Fees: Cost-Cutting Crusade: Optimizing fees and strengthening network foundations are high on the agenda, ensuring smoother transactions and a more robust ecosystem.
SocialFi: Blurring the Lines: DeFi meets social media in this nascent trend, bringing finance and social engagement closer than ever.
#binance #BinanceResearch
Florida Mansion Sells for $11.2M, Includes Metaverse Version and NFTs
The real estate industry is witnessing a groundbreaking change as a luxurious Pinecrest home in Miami-Dade County, Florida, recently sold for a staggering $11.2 million. What makes this sale truly unique is that it not only included the physical property but also its digital metaverse counterpart and four non-fungible tokens (NFTs).
The Metaverse in Real Estate
The digital revolution is redefining the boundaries of the real estate market. In this groundbreaking transaction, the buyer not only ac
The Metaverse in Real Estate
The digital revolution is redefining the boundaries of the real estate market. In this groundbreaking transaction, the buyer not only ac
Animoca Brands’ Subsidiary Forj Unveils ApeCoin ($APE) Accelerator
Forj, a subsidiary of Animoca Brands, has initiated the official launch of the ApeCoin Accelerator ($APE ), marking a significant milestone for the ApeCoin ecosystem. This cutting-edge accelerator, supported by the ApeCoin DAO, aims to invigorate the Web3 community.
On the 17th of October, 2023, Forj, a prominent Web3 technology endeavor under the Animoca Brands umbrella, unveiled the ApeCoin Accelerator, a community-driven Web3 accelerator that derives its funding from the ApeCoin DAO. This laun
On the 17th of October, 2023, Forj, a prominent Web3 technology endeavor under the Animoca Brands umbrella, unveiled the ApeCoin Accelerator, a community-driven Web3 accelerator that derives its funding from the ApeCoin DAO. This laun
Shiba Inu Ecosystem Partners with Fast Food Store WellyFriends
Shiba Inu is a name that’s been making waves in the blockchain world. This intriguing ecosystem has been on a journey of growth, development, and innovation, and it recently made a significant move that’s capturing hearts worldwide. In a delightful twist of fate, Shiba Inu has teamed up with a beloved Italian fast food store, WellyFriends, to create something truly unique – a Shiba Inu-themed restaurant.
The Shiba Inu Ecosystem Unleashed
Shiba Inu, commonly known as SHIB, has proven its mettle i
The Shiba Inu Ecosystem Unleashed
Shiba Inu, commonly known as SHIB, has proven its mettle i
Bitcoin Amsterdam 2023 Highlights
In the heart of Europe, between October 12 and 13, 2023, something extraordinary happened. The 2023 edition of Bitcoin Amsterdam, one of the most significant cryptocurrency events on the continent, came to life. It was a symphony of innovation, inspiration, and a sense of community that transcended borders.
A Gathering of Minds
This year, Bitcoin Amsterdam 2023 didn’t just meet expectations; it exceeded them. The event attracted over 10,000 passionate participants from around the world. These we
A Gathering of Minds
This year, Bitcoin Amsterdam 2023 didn’t just meet expectations; it exceeded them. The event attracted over 10,000 passionate participants from around the world. These we
Bitcoin Amsterdam 2023 Highlights
In the heart of Europe, between October 12 and 13, 2023, something extraordinary happened. The 2023 edition of Bitcoin Amsterdam, one of the most significant cryptocurrency events on the continent, came to life. It was a symphony of innovation, inspiration, and a sense of community that transcended borders.
https://www.geekmetaverse.com/bitcoin-amsterdam-2023-highlights/
#Bitcoin #BitcoinETF #BitcoinAmsterdam #BitcoinAmsterdam2023 #BTC #crypto #cryptonews #cryptocurrency #cryptocurrencynews #bitcoinnews #web3 #Amsterdam
In the heart of Europe, between October 12 and 13, 2023, something extraordinary happened. The 2023 edition of Bitcoin Amsterdam, one of the most significant cryptocurrency events on the continent, came to life. It was a symphony of innovation, inspiration, and a sense of community that transcended borders.
https://www.geekmetaverse.com/bitcoin-amsterdam-2023-highlights/
#Bitcoin #BitcoinETF #BitcoinAmsterdam #BitcoinAmsterdam2023 #BTC #crypto #cryptonews #cryptocurrency #cryptocurrencynews #bitcoinnews #web3 #Amsterdam
How AI is Revolutionizing Bitcoin Mining
In current years, the fantastic upward push of Bitcoin and other cryptocurrencies has captured the arena’s attention. Central to the functioning of cryptocurrencies is the idea of “mining,” in which miners use powerful computer systems to resolve complex mathematical problems and validate transactions. However, as the mining manner will become more and more competitive and aid-in depth, the application of Artificial Intelligence (AI) has emerged as a game-changer. In this newsletter, we will e
Bitcoin: What will September be like for the BTC price?
Analyst Ran Neuner predicts that the Bitcoin price will fall to a low of $20,000 this September due to the cryptocurrency's historically bearish trend this month. Neuner also mentions that low volatility in the cryptocurrency market has contributed to the prolonged bear market. He adds that the bulls are showing weakness and the bearish are quickly gaining momentum, which could lead to Bitcoin's price dropping to a low of $20,899 this month.
The slowdown in cryptocurrency prices has led investors to hold on to their money and grow weary of the low movements in digital currencies. The Bitcoin market has been struggling in a bear market where billions of dollars have been lost due to price pullbacks after sudden rallies, such as the one that occurred after the victory of Grayscale's Bitcoin exchange-traded fund (ETF) in the case against the U.S. Securities and Exchange Commission (SEC).
Neuner also mentions that the regulatory crackdown in the U.S. against crypto institutions and the SEC's reluctance to approve a Bitcoin ETF have affected the performance of the cryptocurrency market. According to the analyst, he expects the regulator to continue to reject the ETF until the March 2024 deadline.
Despite this, the cryptocurrency community expects a market revival from April 2023, when Bitcoin is expected to halve its mining reward. Historically, this event has triggered a bullish rally in the Bitcoin price.
In short, the Bitcoin price could fall to a low of $20,000 this September due to the cryptocurrency's historically bearish trend this month. Low volatility in the cryptocurrency market and bullish weakness also contribute to this prediction. Regulatory crackdown in the U.S. and the SEC's reluctance to approve a Bitcoin ETF have affected market performance. However, the market is expected to revive from April 2023 with the halving of the Bitcoin mining bounty.
Analyst Ran Neuner predicts that the Bitcoin price will fall to a low of $20,000 this September due to the cryptocurrency's historically bearish trend this month. Neuner also mentions that low volatility in the cryptocurrency market has contributed to the prolonged bear market. He adds that the bulls are showing weakness and the bearish are quickly gaining momentum, which could lead to Bitcoin's price dropping to a low of $20,899 this month.
The slowdown in cryptocurrency prices has led investors to hold on to their money and grow weary of the low movements in digital currencies. The Bitcoin market has been struggling in a bear market where billions of dollars have been lost due to price pullbacks after sudden rallies, such as the one that occurred after the victory of Grayscale's Bitcoin exchange-traded fund (ETF) in the case against the U.S. Securities and Exchange Commission (SEC).
Neuner also mentions that the regulatory crackdown in the U.S. against crypto institutions and the SEC's reluctance to approve a Bitcoin ETF have affected the performance of the cryptocurrency market. According to the analyst, he expects the regulator to continue to reject the ETF until the March 2024 deadline.
Despite this, the cryptocurrency community expects a market revival from April 2023, when Bitcoin is expected to halve its mining reward. Historically, this event has triggered a bullish rally in the Bitcoin price.
In short, the Bitcoin price could fall to a low of $20,000 this September due to the cryptocurrency's historically bearish trend this month. Low volatility in the cryptocurrency market and bullish weakness also contribute to this prediction. Regulatory crackdown in the U.S. and the SEC's reluctance to approve a Bitcoin ETF have affected market performance. However, the market is expected to revive from April 2023 with the halving of the Bitcoin mining bounty.
The Impact of Bitcoin on the Real Estate Market
Before delving into Bitcoin’s influence on the real estate market, it is crucial to grasp the fundamentals of this cryptocurrency. Bitcoin operates on a decentralized network called blockchain, enabling secure peer-to-peer transactions without the need for intermediaries such as banks.
https://www.geekmetaverse.com/the-impact-of-bitcoin-on-the-real-estate-market/
Before delving into Bitcoin’s influence on the real estate market, it is crucial to grasp the fundamentals of this cryptocurrency. Bitcoin operates on a decentralized network called blockchain, enabling secure peer-to-peer transactions without the need for intermediaries such as banks.
https://www.geekmetaverse.com/the-impact-of-bitcoin-on-the-real-estate-market/
Meet Block 3000: Blockchain Battle, One of Europe’s biggest-ever Crypto Events
https://www.geekmetaverse.com/meet-block-3000-blockchain-battle-one-of-europes-biggest-ever-crypto-events/
#block3000 #blockchain #blockchainbattle #web3 #web3event
https://www.geekmetaverse.com/meet-block-3000-blockchain-battle-one-of-europes-biggest-ever-crypto-events/
#block3000 #blockchain #blockchainbattle #web3 #web3event
Saudi Arabia partners with The Sandbox on future Metaverse plans
https://www.geekmetaverse.com/saudi-arabia-partners-with-the-sandbox-on-future-metaverse-plans/
#THESANDBOX #TheSandboxGame #Metaverse #web3
https://www.geekmetaverse.com/saudi-arabia-partners-with-the-sandbox-on-future-metaverse-plans/
#THESANDBOX #TheSandboxGame #Metaverse #web3
London to be next stop for International Blockchain Economy Summit
As the most prodigious and largest Blockchain and Crypto conference hub, Blockchain Economy Summit just successfully completed its most global Blockchain event ever in Dubai, United Arab Emirates on October 4-5, 2022 with over 3000 deeply satisfied attendees from 74 countries around the world.
Blockchain Economy Dubai Summit hosted dozens of sponsors such as GARI, Chingari, NAGAX, Codego, Point Network, Gton Capital, and many more in this amazing 5th Edition of Blockchain Economy Summit.
The m
Blockchain Economy Dubai Summit hosted dozens of sponsors such as GARI, Chingari, NAGAX, Codego, Point Network, Gton Capital, and many more in this amazing 5th Edition of Blockchain Economy Summit.
The m
Top 9 most capitalized AI-linked Cryptocurrencies
Although AI burst into our everyday lives some time ago, the recognition of ChatGPT, the chatbot evolved through OpenAI and wherein Microsoft has simply invested vast sums of cash, has put AI within the highlight.
In the cryptocurrency industry, AI can contribute significantly to transaction transparency and privacy, as well as to the optimization of applications and protocols and decentralization.
1. The Graph (GRT)
The Graph is an indexing protocol created by Yaniv Tal, project leader, to q
In the cryptocurrency industry, AI can contribute significantly to transaction transparency and privacy, as well as to the optimization of applications and protocols and decentralization.
1. The Graph (GRT)
The Graph is an indexing protocol created by Yaniv Tal, project leader, to q
Dogecoin (DOGE) heading to $0.10? This is what the indicators are saying
The price of dogecoin (DOGE) recorded a new monthly high at $0.09 this January, amid an ongoing uptrend in the bitcoin (BTC) cryptocurrency market.
According to CoinMarketCap data, DOGE rose 23% in the last 14 days, after raising its price from $0.07 to $0.09. The meme coin suffered a slight setback of 0.36% in 24 hours, to place its value at $0.088 at the time of writing. But will it be able to resume its upward path and break $0.1?
The crypto analyst known as Rekt Capital shared a chart on T
According to CoinMarketCap data, DOGE rose 23% in the last 14 days, after raising its price from $0.07 to $0.09. The meme coin suffered a slight setback of 0.36% in 24 hours, to place its value at $0.088 at the time of writing. But will it be able to resume its upward path and break $0.1?
The crypto analyst known as Rekt Capital shared a chart on T