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Has bitcoin been resurrected? The key reasons why its value skyrockets and exceeds $57,000
The reference cryptocurrency reaches this value for the first time since the end of 2021
Sweet moment for bitcoin. Its price has momentarily exceeded the threshold of $57,000 (52,458 euros) this Thursday, a bar that it reaches for the first time since the end of 2021 and that responds to investor demand through spot bitcoin ETF funds listed on the stock exchange. as well as for MicroStrategy's purchases of 3,000 bitcoin for 155 million dollars (142.72 million euros).
Shortly after, the reference cryptocurrency fell to remain at $56,596.2 (52,113.6 euros) around 1:00 p.m., peninsular time, 10.78% more than the previous day. Bitcoin has improved its value by 33.9% since the beginning of 2023, an improvement that traces back the 64% collapse in 2022. It continues, however, below the historical maximum of almost 69,000 dollars (63,535 euros) reached in November of 2021.
Currently, one of the main incentives for investment is the 50% cut in the bitcoin issue premium scheduled for April. This process is designed to slow down their release and halve the reward for producing them, whose supply is limited to 21 million and of which 19 have already been mined.
Bitcoin has outperformed traditional assets like stocks and gold this year. The ratio that compares the price of the cryptocurrency with that of the precious metal is at its highest level in more than two years. The rally in cryptocurrencies in recent weeks is caused by risk-taking by investors amid expectations that the Federal Reserve will undertake a relaxation of monetary policy. Generally, higher interest rates tend to make riskier assets, such as cryptocurrencies, less attractive.#Bitcoin✅
The reference cryptocurrency reaches this value for the first time since the end of 2021
Sweet moment for bitcoin. Its price has momentarily exceeded the threshold of $57,000 (52,458 euros) this Thursday, a bar that it reaches for the first time since the end of 2021 and that responds to investor demand through spot bitcoin ETF funds listed on the stock exchange. as well as for MicroStrategy's purchases of 3,000 bitcoin for 155 million dollars (142.72 million euros).
Shortly after, the reference cryptocurrency fell to remain at $56,596.2 (52,113.6 euros) around 1:00 p.m., peninsular time, 10.78% more than the previous day. Bitcoin has improved its value by 33.9% since the beginning of 2023, an improvement that traces back the 64% collapse in 2022. It continues, however, below the historical maximum of almost 69,000 dollars (63,535 euros) reached in November of 2021.
Currently, one of the main incentives for investment is the 50% cut in the bitcoin issue premium scheduled for April. This process is designed to slow down their release and halve the reward for producing them, whose supply is limited to 21 million and of which 19 have already been mined.
Bitcoin has outperformed traditional assets like stocks and gold this year. The ratio that compares the price of the cryptocurrency with that of the precious metal is at its highest level in more than two years. The rally in cryptocurrencies in recent weeks is caused by risk-taking by investors amid expectations that the Federal Reserve will undertake a relaxation of monetary policy. Generally, higher interest rates tend to make riskier assets, such as cryptocurrencies, less attractive.#Bitcoin✅
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PORTAL
Portal Unleashes Record Demand on Binance of $8.6 Billion in StakingBinance reports unprecedented demand for Portal staking pools ahead of the cross-chain gaming token's listing next week.The long-awaited Portal gaming token is launching next week, and the pent-up demand is huge. Cryptocurrency exchange Binance kicked off its Launchpool campaign on Thursday, allowing customers to stake other cryptocurrencies to earn PORTAL rewards, and it's already breaking records after attracting several billion dollars in funding.More than $8.6 billion of Binance Coin (BNB) and the FDUSD stablecoin have been staked in the Binance rewards pools for Portal, as of this writing. The Portal team celebrated it as a record for any Launchpool campaign in a tweet on Thursday, and a Binance representative confirmed to Decrypt that the claim appeared to be "correct" based on his data.At the time of writing there are around $6.16 billion in BNB staked in the pools, along with $2.46 billion in FDUSD. The campaign will run until February 29, at which time Binance will list the Ethereum-based gaming token on its exchange.Binance is offering 50 million PORTAL tokens through the pools, which is equivalent to 5% of the total supply of 1 billion tokens. Portal's pre-market trading price has fallen in recent days, according to Whales Market, with the current offer price at $0.57 per token, bringing the estimated value of the reward pool to around $28.5 million. . The offer price was slightly above $1 on Wednesday.
Portal
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#portal
PORTAL Unleashes Record Demand on Binance of $8.6 Billion in Staking
Binance reports unprecedented demand for Portal staking pools ahead of the cross-chain gaming token's listing next week.
The long-awaited Portal gaming token is launching next week, and the pent-up demand is huge. Cryptocurrency exchange Binance kicked off its Launchpool campaign on Thursday, allowing customers to stake other cryptocurrencies to earn PORTAL rewards, and it's already breaking records after attracting several billion dollars in funding.
More than $8.6 billion of Binance Coin (BNB) and the FDUSD stablecoin have been staked in the Binance rewards pools for Portal, as of this writing. The Portal team celebrated it as a record for any Launchpool campaign in a tweet on Thursday, and a Binance representative confirmed to Decrypt that the claim appeared to be "correct" based on their data.
At the time of writing there are around $6.16 billion in BNB staked in the pools, along with $2.46 billion in FDUSD. The campaign will run until February 29, at which time Binance will list the Ethereum-based gaming token on its exchange.
Binance is offering 50 million PORTAL tokens through the pools, which is equivalent to 5% of the total supply of 1 billion tokens. Portal's pre-market trading price has fallen in recent days, according to Whales Market, with the current offer price at $0.57 per token, bringing the estimated value of the reward pool to around $28.5 million. . The offer price was slightly above $1 on Wednesday.
PORTAL Unleashes Record Demand on Binance of $8.6 Billion in Staking
Binance reports unprecedented demand for Portal staking pools ahead of the cross-chain gaming token's listing next week.
The long-awaited Portal gaming token is launching next week, and the pent-up demand is huge. Cryptocurrency exchange Binance kicked off its Launchpool campaign on Thursday, allowing customers to stake other cryptocurrencies to earn PORTAL rewards, and it's already breaking records after attracting several billion dollars in funding.
More than $8.6 billion of Binance Coin (BNB) and the FDUSD stablecoin have been staked in the Binance rewards pools for Portal, as of this writing. The Portal team celebrated it as a record for any Launchpool campaign in a tweet on Thursday, and a Binance representative confirmed to Decrypt that the claim appeared to be "correct" based on their data.
At the time of writing there are around $6.16 billion in BNB staked in the pools, along with $2.46 billion in FDUSD. The campaign will run until February 29, at which time Binance will list the Ethereum-based gaming token on its exchange.
Binance is offering 50 million PORTAL tokens through the pools, which is equivalent to 5% of the total supply of 1 billion tokens. Portal's pre-market trading price has fallen in recent days, according to Whales Market, with the current offer price at $0.57 per token, bringing the estimated value of the reward pool to around $28.5 million. . The offer price was slightly above $1 on Wednesday.