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Bitcoin (BTC)-related investment products have become the “main beneficiary” of recent investor interest  in crypto, amid growing anticipation of a spot Bitcoin ETF approval in the United States.

A total of $1.76 billion of investors’ funds have flowed into crypto products over a 10-week period, making up for the largest inflows over such a period since October 2021 — when Bitcoin futures w launched, according to a Dec.

Record inflows! Last 10 weeks now total U$1.76bn inflows, the highest on record since October 2021’s futures-based ETF launch in the US.Week 49 inflows: U$176 million– #Bitcoin – $BTC: U$133m inflows Short Bitcoin: US$3.6m inflows Trading volumes in ETPs remain… pic.twitter.com/Elon1F2pHl

— CoinShares (@CoinSharesCo) December 4, 2023

CoinShares’ weekly reports over the past 10 weeks shows at least $1.44 billion of inflows went to Bitcoin investment products over the period, as the price of Bitcoin has gained from $26,600 to $37,700 on Dec.

Meanwhile, the latest week ending Dec. Bitcoin (BTC) investment products were the “main beneficiary,” said Butterfill, recording $132.8 million of inflows over the past week, while Ether (ETH) and Solana (SOL) products tallied $30.8 million and 4.3 million, respectively.

Digital asset flows (in millions) week by week in 2023. Source: CoinShares

Related: Bitcoin prices should ‘logically’ correct in January, but crypto’s a ‘wild card’

The inflows come as spot Bitcoin ETF applications are inching closer toward potential approval in the U.S.

Some Bitcoin futures-based products could be reaping benefits of the recent excitement over approvals, said James Edwards, cryptocurrency analyst at fintech firm Finder in a previous interview with Cointelegraph.

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Post By: CryptosHeadlines.com

In Tesla’s latest Q3 earnings report, it’s revealed that the company didn’t sell any Bitcoin in the past three months. This marks the fifth consecutive quarter without any Bitcoin sales for the company.
The Q3 2023 Report 
According to the Q3 2023 Report, as of September 30th, Tesla held approximately 9,720 Bitcoin (BTC), valued at around $275.6 million. The report didn’t mention any conversion of BTC into cash during the third quarter, indicating no significant selling of digital currency. If they had sold a substantial amount, they would have likely shared this news in terms of profits and cash balance.
Tesla initially got into Bitcoin in early 2021, investing $1.5 billion and buying around 43,000 BTC at an average cost of roughly $34,000 per Bitcoin. This move was seen as a big show of confidence in Bitcoin as a store of value and caused the cryptocurrency’s price to spike. However, it also raised concerns about the company’s exposure to the volatile crypto market.
During this time, Tesla also began accepting Bitcoin as payment for its cars and other products.
Maintaining uniformity
Tesla, known for making electric cars, didn’t buy or sell any Bitcoin in Q2 2023, making it the fourth consecutive quarter without such activity.
After a surprising move in the second quarter, when Tesla sold nearly 75% of its Bitcoin holdings, approximately $936 million, to raise funds, the remaining digital assets were valued at $218 million.
Because the Bitcoin price remained relatively stable, staying just under $20,000 throughout the second and third quarters, Tesla didn’t report any losses or write-downs in the value of its Bitcoin holdings.
In summary
Tesla’s decision to stop selling Bitcoin aligns with its earlier choice to no longer accept it as payment for their electric cars because of environmental worries. Nevertheless, the company is actively working on expanding its digital asset holdings and searching for more eco-friendly ways to handle cryptocurrency transactions.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoMarket #Bitcoin #CryptoNews #Tesla #TeslaEarnings

The post 5 Best Meme Coins to Watch This December appeared first on Coinpedia Fintech News

With Bitcoin recently reaching its highest price in over 18 months, the crypto market looks primed for another strong leg up in December. This means that meme coins could be set for another parabolic trajectory.

However, many investors struggle to identify which ones will pump the most. With that in mind, this article provides the five top meme coins to watch this month. We consider price, market trends, community, tokenomics, and use cases.

Meme Kombat

Our top pick for the best meme coin in December 2023 is Meme Kombat. The project is a compelling blend of meme coin and GambleFi utility token, appealing to two vast audiences.

It is currently in its presale, having raised $2.3 million in just two months. Yet, its success is no surprise, with the project backed by countless top analysts and media outlets. 

YouTuber Crypto Boy recently labelled it as having 10x potential, highlighting its tokenomics and utility as key advantages over other meme projects.

Meanwhile, Meme Kombat has also received coverage from top media outlets like Crypto Potato, BeInCrypto, Cointelegraph, Crypto News, and many more.

So this begs the question, what’s all the hype about? In a nutshell, Meme Kombat enables users to gamble on AI-generated battles between meme characters using the $MK token.

This provides users a fun way to gamble and potentially earn crypto, tapping into the viral crypto gambling trend and providing a utility-driven demand stream for $MK.

It also features a staking mechanism with a 373% APY and 25% of the $MK total supply allocated to staking rewards. This will also contribute to increased token demand, helping bolster its price.

Investors can buy $MK at presale for a discounted price of $0.225, but they must hurry as this will rise to $0.235 in five days.

Dogecoin

Dogecoin is the market’s most well-established meme coin, with a significant market cap and backing from one of the world’s most influential business moguls. The project launched in 2013 but rose to mainstream prominence in 2021 as Elon Musk picked it as his favourite cryptocurrency. 

It holds a $11.9 billion market cap but has significant room for growth because it remains far from its 2021 all-time high (ATH). DOGE’s price is $0.08429, up 1.1% in the last day, 7.8% this week and 22% this month.

However, it remains 88% from its ATH, giving room for almost a 10x, or even more if it creates a new ATH.

Meanwhile, Dogecoin is also poised to pump in the short term. While many other meme coins are up 100% or higher in recent months, Dogecoin has lagged behind. However, some traders believe it is only a matter of time before the leading meme coin rallies.

X analyst KALEO has been significantly bullish on Dogecoin, predicting it will create new near-term highs after a pullback in November.

Another reason to watch Dogecoin this month is that a community-funded physical Dogecoin will be sent to space. This will likely drive massive excitement and potentially even draw Elon Musk to tweet about the project again.

Bonk

Bonk is an exciting Solana-based meme coin launched in December 2022 but has seen tremendous success recently. Its prospered alongisde the massive Solana coin beginning in September.

Currently, Bonk is the leading meme coin on Solana, so if Solana continues to rise, Bonk will likely follow suit.

Bonk holds a $251 million market cap, priced at $0.000004636. It is up 17% in the last 24 hours, 7% this week, and 555% this month. It is trading 17% below its 20 November ATH of $0.000005327.

The Bonk website explains it was initially launched as an airdrop in December 2022 but has since risen to become the “true community coin of web3.”

Like Dogecoin, it does not offer any inherent utility except as a means of payment; however, it boasts integrations in over 130 applications, including DeFi, gaming, and NFT protocols. Its website also notes that Bonk is currently available on ten blockchains.

However, the main reason to watch Bonk is that it is not currently listed on Binance and Coinbase. Yet, considering its meteoric rise, it seems inevitable that one or both of these exchanges will list the token this month. Should this occur, we could see Bonk explode to new highs shortly after.

Gorilla 

Gorilla is another upcoming meme coin that has enjoyed notable success recently. However, it shares more similarities with Meme Kombat than Dogecoin or Bonk. This is because it integrates cutting-edge utility, providing a unique advantage over its competitors.

Essentially, Gorilla is a meme coin-cross DeFi ecosystem, offering an IDO launchpad, a cross-chain token swap tool, and a peer-to-peer trading dApp.

It is priced at $0.01245 with a $8.7 million market cap. Its price is down 10.8% in the last day but up 831% this week.

Yet, with such an illustrative recent pump, investors must be aware that this is a high-risk crypto. Nevertheless, its low market cap presents signficant upside potential to reach the top 10 meme coins by market cap.

Another promising factors is that $GORILLA is used to power its ecosystem. This provides a significant potential demand stream should the platform become popular.

Moreover, it will redistribute 50% of the launchpad’s fees to the Gorilla ecosystem, helping it grow and funding token buybacks.

This novel use case has propelled Gorilla to CoinMarketCap’s top trending list this week, another sign of strong bullish momentum.

However, its current price range is crucial to watch. A clean break from its short-term support or resistance could dictate the next explosive move in either direction.

Pepe

Our final pick for a meme coin to watch in December is Pepe. The project enjoyed an unprecedented ascent in the depths of the recent bear market, reaching a $1.8 billion market cap within one month of launching.

Then, after months of decline, Pepe has begun to show strong recovery signals, currently priced at $0.000001144, up 4.4% today and over 100% from mid-October. That said, it is currently around break even the past month, up just 0.8%. 

However, its recent pump has created a massively bullish price chart pattern, indicating it could climb to a new local high shortly.

X analyst Eunice D Wong recently noted that Pepe has just broken a pennant flag formation, which it has been trading inside since early November. A pennant flag is a short-term continuation pattern where the price consolidates before the trend resumes.

Moreover, the analyst noted that this breakout coincides with a break above the 200-day EMA, further increasing the likelihood of a solid move to the upside.

Pepe’s recent bullish trajectory followed the team’s renouncing control of the project by burning 6.9 trillion PEPE and introducing a new team of advisors to guide the project forward.

As CryptoPotato reported, Bitcoin’s price exploded above $41K for the first time in 19 months, leaving a trail of liquidated short positions over the past 24 hours.

Many analysts and experts have stated that the bull run has already begun, while others believe that it will come following the 2024 Bitcoin halving.

That said, Jeroen Blokland, a well-known money manager, and a ‘multi-asset investor’ believes that this rally is different compared to the last time the cryptocurrency was trading at these levels.

The last time Bitcoin topped $40,000 was in May last year. After that, Crypto scandals and lousy overall market sentiment pushed the price down. And while many investors are focused on the halving, it’s the acceleration of Bitcoin as an ‘accepted’ asset class that feels different from the last time we were at $40,000.

The Bitcoin halving that Blokland is referring to is slated to take place in April 2024. It’s an event that takes place once roughly every four years, and it slashes the production of new BTC in half.

It has traditionally coincided with considerable increases in the price of BTC and major bull markets that took place across the entire industry.

That said, 2023 is coming to an end, and the month of December could also turn out to be an interesting one for the cryptocurrency markets.

On December 13th, there’s a meeting of the Federal Open Market Committee (FOMC) in the US. The country will review its anti-inflationary policy and determine whether or not it will hike inflation rates. The majority of the experts believe that the rates will remain unchanged, which is perhaps the reason why risk-on markets such as crypto are seeing an uptick.

The post This is What’s Causing the Bitcoin (BTC) Price Rally Above $40K, Expert Says appeared first on CryptoPotato.

Key Points:

Forbes introduces the ForbesWeb3 hub for Web3 entrepreneurs and changemakers, offering an exclusive network and opportunities to shape the future.

The media giant also takes a groundbreaking step by launching its prestigious Under 30 list on the Ethereum blockchain.

Forbes demonstrates its commitment to Web3 by combining traditional media credibility with blockchain technology.

Global media giant Forbes has unveiled the ForbesWeb3 hub, marking a pioneering move into the realm of Web3. 

ForbesWeb3 Hub: Pioneering a Global Community for Web3 Trailblazers Described as an experiential and communal space for Web3 entrepreneurs, creators, and changemakers globally, the hub signifies Forbes' commitment to supporting success since its inception in 1917. Distinguishing itself from other communities, the ForbesWeb3 hub is positioned as a dynamic network for Web3 practitioners, offering unparalleled benefits and opportunities to shape the future. Forbes, with nearly a decade of Web3 coverage, celebrates its commitment to this space with a unique approach. Forbes Immortalizes Under 30 Achievements on Ethereum In a groundbreaking development, Forbes has extended its renowned Under 30 list onto the Ethereum blockchain. Spanning 20 diverse categories, including art, entertainment, retail, e-commerce, finance, and investment, the Under 30 series highlights the impactful contributions of young talents across various fields. This strategic move amalgamates traditional media's credibility with the transformative capabilities of blockchain technology. The Ethereum blockchain will permanently house the achievements and stories of young entrepreneurs, innovators, and leaders featured on the Under 30 list, ensuring a lasting legacy for their accomplishments. ForbesWeb3 hub and the integration of the Under 30 list into the Ethereum blockchain exemplify Forbes' dedication to fostering a supportive ecosystem for Web3 enthusiasts while embracing innovative technologies to immortalize the achievements of emerging leaders.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin (BTC) miner Core Scientific has released a presentation outlining its plans to emerge from bankruptcy in early January 2024. The presentation is based on the third amended joint Chapter 11 plan filed on Nov.

Common shareholders and holders of two series of convertible notes are being planned for separately.

Planned Core Scientific indicators through 2027. Source: Core Scientific

Noteholders will receive $1.628 on every $1 of face value for notes due in April and $1.201 per $1 face value for notes with an August due date.

If it reaches agreements with key shareholders, Core Scientific will emerge from bankruptcy with $709 million in net debt and $791 million in equity value on Jan.

Related: ‘Unjustly enriched’ — Core Scientific knocks back $4.7M claim from Celsius

Core Scientific operates seven facilities in five states and has a total operational capacity of 724 MW.

Today’s $CORZ daily self-mined #Bitcoin for the last reported 24-hour period (02-Dec-2023): 30.1 pic.twitter.com/KuKyORAkka

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