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Digital Asset Investment Products See $176 Million Inflow in Eighth Consecutive Week
According to Foresight News, last week saw a total inflow of $176 million into digital asset investment products, marking the eighth consecutive week of inflows. Since the beginning of the year, the total inflow has reached $13.2 billion. Additionally, the share of ETPs in the total cryptocurrency volume is on the rise, averaging 11%, significantly higher than the long-term historical average of 3.4% and well above the average level during the 2020/21 bull market.
Last week, Bitcoin inflows tota
Last week, Bitcoin inflows tota
Bitcoin Price Crosses $37,000 Mark
As per the latest data from the Binance Market Price, Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, crossed the $37,000 mark, trading at $37,262.90 as of 3:45 PM on November 20, 2023. The digital currency witnessed a solid increase of +2.16% during the last 24 hours, signaling bullish momentum in the crypto market.
Bitcoin Advocate Javier Milei Triumphs in Argentine Presidential Election Amidst Economic Crisis
According to Cointelegraph: Javier Milei, who is known for his Bitcoin-friendly stance, has emerged victorious in Argentina's presidential run-off election held on November 19. With 99% of the vote counted, Milei secured over 55% of the votes, leaving his rival, Sergio Massa, trailing by nearly 3 million votes, according to data from Bloomberg.
Economy minister Massa congratulated Milei on his triumph after over 90% of the votes were accounted for, ahead of the official announcement of results
Economy minister Massa congratulated Milei on his triumph after over 90% of the votes were accounted for, ahead of the official announcement of results
Friend.tech Sees Over $10 Million Trading Volume Amid Exit Behavior Concerns
According to CryptoPotato, over the weekend, the total trading volume on Friend.tech exceeded $10 million, marking the highest level in several weeks. However, industry analyst Colin Wu suggests that this may be an exit behavior. Data from Dune Analytics shows that Ethereum is being withdrawn from the platform at a faster rate than it is being minted, as keys are being redeemed.
More than 5,000 ETH was withdrawn from Friend.tech over the weekend, representing the largest withdrawal since October
More than 5,000 ETH was withdrawn from Friend.tech over the weekend, representing the largest withdrawal since October
CZ: You Are So Lucky You Bought Bitcoin Last Year
Changpeng Zhao (CZ), CEO of Binance, recently commented on Square with a post reflecting on Bitcoin's price surge over the past year. His statement, "Bitcoin was $15,588 a year ago today. You are so "lucky" you bought then," highlighting the cyclic nature of the cryptocurrency market
Australian Crypto Exchange CoinSpot Loses $2 Million in Ethereum Exploit
According to CryptoPotato, Australian cryptocurrency exchange CoinSpot may have suffered an exploit resulting in the loss of approximately $2 million worth of Ethereum (ETH). Blockchain investigator ZachXBT revealed the incident through his Telegram channel, raising concerns about the security of the exchange's hot wallets.
On November 8, ZachXBT reported that two wallets associated with CoinSpot were drained of more than 1,282 ETH in just five minutes. The investigation uncovered two suspicious
On November 8, ZachXBT reported that two wallets associated with CoinSpot were drained of more than 1,282 ETH in just five minutes. The investigation uncovered two suspicious
Celsius Creditor Repayment of $2 Billion in Crypto Set to Begin Next Year
According to Coincu, Celsius, a failed crypto lender, plans to repay $2 billion worth of Bitcoin and Ethereum to creditors starting next year. The company aims to transform into a creditor-owned Bitcoin mining firm, despite facing fraud allegations. Former CEO Alex Mashinsky has been accused of manipulating the CEL token and making misleading statements to attract customer investments, but he has pleaded not guilty.
The plan to repay customers whose accounts have been frozen for over a year invo
The plan to repay customers whose accounts have been frozen for over a year invo
Bitcoin’s Role as ‘Digital Gold’ Will Aid Further Demand, Traders Say
Traders continue to point out bitcoin’s supposed role as ‘digital gold,’ amid economic headwinds in the U.S., as a possible price catalyst.
Bitcoin (BTC) kept steady under the $35,000 level in the past 24 hours, with meme coin dogecoin (DOGE) driving gains for traders.
Some traders told CoinDesk that they expect bitcoin to play a key role as “digital gold” – a likening as a hedge to traditional markets offerings, such as stocks – as a possible price catalyst.
“I think the general public’s educat
Bitcoin (BTC) kept steady under the $35,000 level in the past 24 hours, with meme coin dogecoin (DOGE) driving gains for traders.
Some traders told CoinDesk that they expect bitcoin to play a key role as “digital gold” – a likening as a hedge to traditional markets offerings, such as stocks – as a possible price catalyst.
“I think the general public’s educat
Are you ready for #BinanceBlockchainWeek ?
Bitcoin Halving and Spot ETFs Expected to Reduce Supply and Double Demand
According to Coincu, the upcoming Bitcoin halving and the potential launch of spot ETFs are expected to have a significant impact on the Bitcoin market. Michael Saylor, in an interview on Fox Business, mentioned the impact of the halving on the Bitcoin supply and the potential doubling of demand once the spot ETFs are launched. The halving event reduces the supply, while the spot ETFs are expected to attract more investors and increase demand for Bitcoin.
The Bitcoin halving is a significant event that occurs approximately every four years, where the block reward provided to miners is reduced by half. This event ensures a controlled monetary inflation rate, distinguishing cryptocurrencies from traditional fiat currencies with infinite supply. The next halving is expected to occur on April 24, 2024, and the current block height is less than 6 months away from it. Once all 32 halving events have taken place, the maximum supply of Bitcoin will be reached, and no more Bitcoin will be created.
Spot Bitcoin ETFs, also known as Bitcoin Physical ETFs, are investment funds that operate similarly to traditional ETFs. These funds allow investors to access Bitcoin without owning it directly. Instead, the fund management company purchases Bitcoin and issues shares in the ETF, representing ownership of the underlying Bitcoin. This indirect investment enables investors to benefit from the value of Bitcoin while mitigating the risks associated with the crypto market.
According to Coincu, the upcoming Bitcoin halving and the potential launch of spot ETFs are expected to have a significant impact on the Bitcoin market. Michael Saylor, in an interview on Fox Business, mentioned the impact of the halving on the Bitcoin supply and the potential doubling of demand once the spot ETFs are launched. The halving event reduces the supply, while the spot ETFs are expected to attract more investors and increase demand for Bitcoin.
The Bitcoin halving is a significant event that occurs approximately every four years, where the block reward provided to miners is reduced by half. This event ensures a controlled monetary inflation rate, distinguishing cryptocurrencies from traditional fiat currencies with infinite supply. The next halving is expected to occur on April 24, 2024, and the current block height is less than 6 months away from it. Once all 32 halving events have taken place, the maximum supply of Bitcoin will be reached, and no more Bitcoin will be created.
Spot Bitcoin ETFs, also known as Bitcoin Physical ETFs, are investment funds that operate similarly to traditional ETFs. These funds allow investors to access Bitcoin without owning it directly. Instead, the fund management company purchases Bitcoin and issues shares in the ETF, representing ownership of the underlying Bitcoin. This indirect investment enables investors to benefit from the value of Bitcoin while mitigating the risks associated with the crypto market.
Ark Invest Sells GBTC Shares Worth $3.8 Million, Buys Block Inc. Shares Worth $5.6 Million
According to Foresight News, Cathie Wood's Ark Invest has sold 139,506 shares of Grayscale Bitcoin Trust (GBTC) through its ARK Next Generation Internet fund, valued at approximately $3.8 million. In addition, Ark Invest has purchased 113,326 shares of Block, Inc. through three funds, valued at approximately $5.6 million.
According to Foresight News, Cathie Wood's Ark Invest has sold 139,506 shares of Grayscale Bitcoin Trust (GBTC) through its ARK Next Generation Internet fund, valued at approximately $3.8 million. In addition, Ark Invest has purchased 113,326 shares of Block, Inc. through three funds, valued at approximately $5.6 million.
Tether Provides $610M Debt Financing to Bitcoin Miner Northern Data; Increases Bet on Bitcoin Mining
Tether, the issuer of the widely-used stablecoin USDT, is increasing its involvement in Bitcoin mining through a significant debt facility issued to Northern Data AG. The German-based BTC mining company has secured a 575 million euro ($610 million) debt financing facility from Tether.
According to the announcement made on November 2, the debt capital aims to fuel further investments across Northern Data Group's three business lines—Taiga Cloud, Ardent Data Centers, and Peak Mining. The primary aim of these investments will be to acquire additional hardware and increase the scale of Bitcoin mining operations with liquid-cooling mining technology.
The debt facility is unsecured, with standard market conditions applied, and has a term that extends up to January 1, 2030.
Previously, in September 2023, Tether had acquired a stake in Northern Data and invested an undisclosed amount in the company, committing support to AI initiatives. Tether clarified that the investment was made independently of its reserves and would not affect customer funds.
Moreover, the stablecoin company has been actively participating in Bitcoin mining operations throughout 2023—both by establishing its own mining operations and introducing proprietary mining software.
As reported in the Q2 attestation from accounting firm BDO, Tether increased its excess reserves by $850 million, bringing the total of excess reserves to $3.3 billion. Despite efforts to reduce stablecoin loans to zero last year, the company's loans reportedly surged in September 2023.
Tether, the issuer of the widely-used stablecoin USDT, is increasing its involvement in Bitcoin mining through a significant debt facility issued to Northern Data AG. The German-based BTC mining company has secured a 575 million euro ($610 million) debt financing facility from Tether.
According to the announcement made on November 2, the debt capital aims to fuel further investments across Northern Data Group's three business lines—Taiga Cloud, Ardent Data Centers, and Peak Mining. The primary aim of these investments will be to acquire additional hardware and increase the scale of Bitcoin mining operations with liquid-cooling mining technology.
The debt facility is unsecured, with standard market conditions applied, and has a term that extends up to January 1, 2030.
Previously, in September 2023, Tether had acquired a stake in Northern Data and invested an undisclosed amount in the company, committing support to AI initiatives. Tether clarified that the investment was made independently of its reserves and would not affect customer funds.
Moreover, the stablecoin company has been actively participating in Bitcoin mining operations throughout 2023—both by establishing its own mining operations and introducing proprietary mining software.
As reported in the Q2 attestation from accounting firm BDO, Tether increased its excess reserves by $850 million, bringing the total of excess reserves to $3.3 billion. Despite efforts to reduce stablecoin loans to zero last year, the company's loans reportedly surged in September 2023.
Public Mining Companies Cease Accumulating Bitcoin Since May 2022
According to Foresight News, Luxor Technologies mining services analyst Jaran Mellerud stated that public mining companies stopped accumulating Bitcoin in May 2022. Since then, their holdings have decreased from 46,000 to 35,000 coins, indicating that they sold more Bitcoin than they mined during this period.
According to Foresight News, Luxor Technologies mining services analyst Jaran Mellerud stated that public mining companies stopped accumulating Bitcoin in May 2022. Since then, their holdings have decreased from 46,000 to 35,000 coins, indicating that they sold more Bitcoin than they mined during this period.
Coinbase Squashes Rumors of Bitcoin Weekly Withdrawal Limit
According to Cointelegraph: Coinbase, a prominent crypto exchange, has dismissed rumors circulating on social media regarding a $5,000 weekly limit on Bitcoin (BTC) withdrawals. The misinformation began gaining traction after an October 24 post from a user on 'X' (previously known as Twitter), who alleged that a policy had limited his BTC withdrawals to a maximum of $5,000 per week.
The user's post attracted substantial attention, with over 250,000 views, nearly 420 retweets and almost 2,000 li
The user's post attracted substantial attention, with over 250,000 views, nearly 420 retweets and almost 2,000 li
Crypto Adoption Flourishing in Lower-Middle-Income Countries despite Global Usage Decline, says Chai
According to Cointelegraph: Crypto adoption displays a predominantly bright outlook, particularly in emerging economies, despite a fall in global usage, according to Chainalysis. The blockchain data firm reports that India tops the world in crypto adoption, followed by Nigeria and Vietnam. However, North America houses nearly a quarter of all value received by cryptocurrency exchanges, with the United States taking the lead.
To measure adoption, Chainalysis utilised web traffic data from 13 bil
To measure adoption, Chainalysis utilised web traffic data from 13 bil
Popular Friend.Tech User Dumps 850 ETH Worth of Keys, Switches to New Bitcoin City
According to CoinDesk, a well-known Friend.Tech user, @Vombatus_eth, sold 850 ether (ETH) worth of keys on Monday before moving to New Bitcoin City, a similar social app built on Bitcoin. Vombatus made approximately $1.5 million after selling 176 keys and still holds 150 keys on the platform. Friend.Tech allows users to issue 'keys' for access to closed group chats and quickly became one of the fastest-growing crypto platforms after its August launch, attracting millions of dollars in revenue fr
Nigerian Crypto Exchange Patricia Allows Customers to Convert Debts into Company Shares
According to Foresight News, Nigerian cryptocurrency exchange Patricia has confirmed that customers can now choose to convert their outstanding debts into company shares. CEO Fejiro Hanu stated that these shares will be managed by a trusted third-party trustee licensed by the US Securities and Exchange Commission (SEC) to ensure full transparency.
In May 2023, Patricia disclosed a security incident that resulted in financial losses. Although the company claimed that customer funds were not affected, users have been struggling to withdraw from the exchange since April. The issuance of PTK tokens to customers was an initial step taken by the exchange to manage user debts.
According to Foresight News, Nigerian cryptocurrency exchange Patricia has confirmed that customers can now choose to convert their outstanding debts into company shares. CEO Fejiro Hanu stated that these shares will be managed by a trusted third-party trustee licensed by the US Securities and Exchange Commission (SEC) to ensure full transparency.
In May 2023, Patricia disclosed a security incident that resulted in financial losses. Although the company claimed that customer funds were not affected, users have been struggling to withdraw from the exchange since April. The issuance of PTK tokens to customers was an initial step taken by the exchange to manage user debts.
Crypto Fear and Greed Index
Today’s Fear & Greed Index is 63. The level is Greed.
According to Alternative.me, the Crypto Fear and Greed Index stands at 63 (noon, UTC+0), landing in the “Greed” segment. This signifies a high level of optimism among the majority of cryptocurrency investors.
Compared to yesterday, the Greed level has a significant increase from 53 to 63. Throughout the previous week, the index fluctuated from 47 to 63 indicating an increasing level of Greed in the market.
The Fear & Greed index is measure
According to Alternative.me, the Crypto Fear and Greed Index stands at 63 (noon, UTC+0), landing in the “Greed” segment. This signifies a high level of optimism among the majority of cryptocurrency investors.
Compared to yesterday, the Greed level has a significant increase from 53 to 63. Throughout the previous week, the index fluctuated from 47 to 63 indicating an increasing level of Greed in the market.
The Fear & Greed index is measure
Long-Dormant Ethereum ICO Address Transfers 2000 ETH To Four Different Addresses
According to Foresight News, information from Etherscan reveals that a long-dormant Ethereum ICO participation address, starting with 0x6403, has transferred 500 ETH each to four different addresses, totaling 2000 ETH. The address had been inactive for over eight years.
According to Foresight News, information from Etherscan reveals that a long-dormant Ethereum ICO participation address, starting with 0x6403, has transferred 500 ETH each to four different addresses, totaling 2000 ETH. The address had been inactive for over eight years.
Bitcoin's Average Holding Time Outperforms Ethereum, Dogecoin, and Ripple
According to CryptoPotato, research conducted by IntoTheBlock reveals that the average holding time for Bitcoin (BTC) is 4.2 years, significantly longer than Ether (ETH) and Dogecoin (DOGE), which have an average holding time of around 2 years. Ripple's XRP also falls behind Bitcoin in terms of holding duration.
Long-term Bitcoin holders have experienced significant gains, with some investors seeing up to a 15x return from 2017 to 2021. If an investor were to sell their Bitcoin holdings today af
Long-term Bitcoin holders have experienced significant gains, with some investors seeing up to a 15x return from 2017 to 2021. If an investor were to sell their Bitcoin holdings today af
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BURNGMT
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🔥 PEPE TOKEN PRICE PREDICTION FOR THE END OF DECEMBER : 😱
👀 Pepe Token's price prediction for the end of December 2024 is looking promising. According to CoinCodex, the token is expected to reach a minimum price of $0.00002076, an average price of $0.00003599, and a maximum price of $0.00005700. This represents a potential ROI of 166.13% compared to the current price.
🔥🔥 600M GMT BUYBACK AND BURNGMT INITIATIVE: SHOWCASING CONFIDENCE AND COMMITMENT: 🚀
The 600M GMT Buyback and BURNGMT Initiative is a bold move that underscores the unwavering confidence of the GMT team in their vision and project. By committing $100 million to repurchase and burn 600 million GMT tokens, the team is making a powerful statement of dedication to long-term growth, stability, and value creation for the community. This extraordinary initiative goes beyond typical buybacks, as it includes burning tokens allocated to early advisors, team members, and investors that were not yet unlocked.
Such a strategic decision signals the team’s intent to align their interests with those of the broader community. Reducing the token supply by such a significant margin enhances scarcity, strengthens market confidence, and protects the interests of existing token holders. The BURNGMT Initiative also eliminates potential sell-pressure from large early-stage allocations, creating a healthier and more sustainable market environment.
Why should you participate? The answer lies in the unique opportunity to influence the tokenomics of GMT through community-driven governance. By voting to burn these tokens, participants actively shape the project's future, ensuring transparency and fairness. This initiative highlights the team’s respect for decentralization and their commitment to empowering the community.
In conclusion, the 600M GMT Buyback and BURNGMT Initiative is not just a token burn—it is a transformative milestone reflecting strength, trust, and shared prosperity for all stakeholders.
#BURNGMT @GMT DAO $GMT
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