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Wowww....Just 21 million Bitcoin for all 8 billion of us.
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Inauguration Effect? Bitcoin Whales Start Accumulating As Trump Era Begins. Following Donald Trump’s inauguration on January 20th, Bitcoin (BTC) has remained range-bound, trading between $101,000 to $110,000. However, a new report by CryptoQuant states that behind this routine price action, Bitcoin ‘whales’ are quietly back to accumulating the premier cryptocurrency. Bitcoin Whales Back In Accumulation Mode According to the report, large BTC holders – commonly referred to as Bitcoin ‘whales’ – have re-entered the accumulation phase. Recent data shows a significant uptick in the monthly percentage growth of BTC holdings among these large investors. Notably, Bitcoin whale holdings increased from a decline of -0.25% on January 14 to a growth of 2% by January 17, marking the highest monthly growth rate since mid-December. In absolute terms, these investors’ BTC holdings rose from 16.2 million on November 4 to 16.4 million as of January 24. The surge in whale accumulation appears to be driven by several bullish developments early in Trump’s administration. For example, the US president has already signed an executive order establishing a Working Group on Digital Asset Markets. This Working Group has been tasked with proposing a federal regulatory framework for cryptocurrencies – including stablecoins – within six months. Additionally, the group will evaluate the potential creation of a national digital asset stockpile, fueling speculation about a potential US strategic Bitcoin reserve. Besides growth in whale holdings, selling pressure for BTC has declined sharply since major profit-taking in December. This aligns with a recent report which found that BTC profit-taking has dropped by 93% from its December peak. The report reads: Bitcoin holders realized daily profits as high as $10 billion as Bitcoin approached $100K in December. However, daily realized profits have fallen to levels around $2-$3 billion in January, which indicates market participants may have finished selling Bitcoin for the most part.
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What’s Happening in Crypto Today? Daily Crypto News Digest Jan 23, 2025. In crypto news today: Crypto market is red todayCARV Launches D.A.T.A Framework, Giving AI Agents ‘Eyes and Ears’TruBit Launches Cross-Border Payment SolutionPuffer Updates Season 2 Airdrop Campaign, Reveals Tokenized On-Chain Incentives __________Crypto market is red today The cryptocurrency market took a red turn today. Over the past 24 hours, the global cryptocurrency market capitalization fell 4.9% to $3.65 trillion. At the time of writing, the daily crypto trading volume is $174 billion – lower than what we’ve been seeing over the last few days. A large majority of the top 100 coins per marker cap have seen their prices decrease today. At the same time, all top 10 coins per market cap saw their prices fall. Among these, Solana (SOL) recorded the biggest drop: 5.6%, now trading at $256. The rest are down between 2% and 4%. Bitcoin (BTC) fell 2.2% to $101,955, while Ethereum (ETH) decreased by 2%, changing hands at $3,224.CARV Launches D.A.T.A Framework, Giving AI Agents ‘Eyes and Ears’ AI chain ecosystem has unveiled its D.A.T.A (Data Authentication, Trust, and Attestation) Framework to transform how AI agents interact with both on-chain and off-chain data. to the press release, the novel framework “converts static information into actionable insights.” This allows AI agents to analyze, adapt, and act independently. The team noted that fragmented and inaccessible data limits the potential of artificial general intelligence (AGI), but that the D.A.T.A Framework delivers real-time decision-making capabilities, privacy, and security. CARV 🤝 SentioA transformative step in empowering through D.A.T.A. Framework.Read more here: — CARV (@carv_official).
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China sold near $20B Bitcoin from PlusToken seizure: CryptoQuant CEO. The Chinese government has likely sold its nearly $20-billion Bitcoin stack, contributing to significant sell pressure for the world’s first cryptocurrency. China’s treasury sold over $19.7 billion worth of Bitcoin BTCUSD leading up to Jan. 23, according to Ki Young Ju, founder and CEO of the blockchain analytics platform CryptoQuant. The crypto, seized from PlusToken in 2019, was likely sent to cryptocurrency exchanges such as Huobi, wrote Ju in a Jan. 23 X post: “China sold 194K Bitcoin already, [in my opinion]. […] The CCP said it was ‘transferred to the national treasury’ without clarifying if it was sold.” “A censored regime holding censorship-resistant money feels unlikely,” he added. The large-scale selling comes over four years after Chinese authorities seized $4.2 billion worth of crypto from the PlusToken Ponzi scheme, which has led to the arrest of at least 109 individuals so far. Bitcoin unfazed by $20-billion sale Bitcoin remained above the $101,000 mark on Jan. 23 despite the near $20-billion sale. However, BTC’s price fell over 3.7% in the 24 hours leading up to 12:22 am UTC, Cointelegraph Markets Pro data shows. Bitcoin’s resilience is partly thanks to continued purchases from the world’s largest asset manager, BlackRock, which has been acquiring Bitcoin for five consecutive trading days, Farside Investors data shows. Notably, BlackRock’s Bitcoin exchange-traded fund (ETF) bought $600 million worth of Bitcoin on Jan. 21, which marks its biggest buy of the year, according to Arkham Intelligence data. Meanwhile, Bitcoin remains sensitive to economic developments in the absence of news regarding US crypto regulation. Concerns over tightening monetary policy will continue pressuring Bitcoin’s price, according to Ryan Lee, chief analyst at Bitget Research. The analyst told Cointelegraph:
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Why is the Ripple (XRP) Price Down Today? XRP has managed to become the 4th largest cryptocurrency by means of total market capitalization, surpassing the likes of SOL and BNB. At one point, it even managed tooutpaceUSDT and claim the third spot. It’s up by more than 45% in the past seven days, clearly being the best-performing altcoin from the top 10. However, over the past few days, things have changed a bit, and XRP is now in a state of correction, down 5.3% in the past day alone. As you can see in the chart above, XRP topped at around $2.9 the other day, and it has been declining since then, losing about 20% in the process. Interestingly enough, this happened when Donald TrumpselectedPaul Atkins as the new chairman of the United States Securities and Exchange Commission. In Trump’s own words: “Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. […] He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.” So, if the next SEC Chair is relatively pro-crypto, why is the XRP price going down? Well, it’s important to look at things from perspective and understand that the cryptocurrency increased by almost 400% in less than 30 days at one point (before the recent correction). Nothing ever goes up in a straight line, and corrections are due. Another reason besides the market getting overheated could be the precise fact that Trump announced his candidate for the SEC Chairman. Many traders may have bought up the cryptocurrency in anticipation of his choice, essentially turning the event into a“sell-the-news.” On top of everything else, there’s also the fact that the entire market is seemingly going through a correction over the past 24 hours. Bitcoin, for once, dropped to as low as $92,000 in a flash crash before recovering to where it’s currently trading.
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