Cryptocurrency

On January 2, BlackRock’s spot Bitcoin ETF recorded an outflow of $332.6 million, according to data from Farside Investors. This surpassed the previous high of $188.7 million set on December 24.The fund has now seen outflows for three consecutive trading days, marking another record. Over the past week, IBIT’s total outflows have reached $392.6 million.Despite the recent withdrawals, BlackRock’s Bitcoin ETF remains one of the top-performing funds in the U.S. in terms of inflows for 2024.Data from Bloomberg, shared by senior ETF analyst Eric Balchunas, shows that IBIT ranked third with $37.2 billion in inflows. The Vanguard S&P 500 ETF (NYSE:VOO) led the list with $116 billion, followed by the iShares Core S&P 500 ETF (NYSE:IVV) at $89 billion.While BlackRock’s Bitcoin ETF saw significant outflows, other spot Bitcoin ETFs, including those from Bitwise, Fidelity, and Ark 21Shares, recorded inflows of $48.3 million, $36.2 million, and $16.5 million, respectively.Grayscale Bitcoin Mini Trust ETF (NYSE:BTC) also posted a modest inflow of $6.9 million, though its larger Grayscale Bitcoin Trust (BTC) (NYSE:GBTC) fund experienced a $23.1 million outflow.The overall net outflow for the day amounted to $242 million, driven largely by BlackRock’s withdrawals, which offset inflows seen by its competitors.Meanwhile, U.S. spot Ethereum ETFs experienced net outflows totaling $77.5 million on Jan.2, with Bitwise Ethereum ETF (NYSE:ETHW) accounting for the majority at $56.1 million. Grayscale Ethereum Trust ETF (NYSE:ETHE) also reported outflows of $21.4 million.The combined trading volume for ether funds reached $397.2 million on Thursday, an increase from $313.1 million recorded on December 31. The funds’ cumulative net inflows have grown to $2.58 billion. More

Stablecoin Tether was a main point of focus this week, as it logged its worst decline in market capitalization since the 2022 FTX crash after the European Union’s Markets in Crypto-Assets law came into full effect in late-December. Several European exchanges, as well as Coinbase Global Inc (NASDAQ:COIN), pulled the stablecoin from their platforms over compliance concerns. Broader crypto markets were battered by a wave of selling in the final week of 2024 as traders locked in a stellar run of profits through the year. But some caution also crept into markets, especially on the notion that U.S. interest rates will fall at a slower pace in 2025.Still, the prospect of friendlier regulations under Trump kept crypto markets relatively upbeat, with Bitcoin also staging a recovery from its year-end lows.Bitcoin rose 1.2% to $96,852.7 by 23:41 ET (04:41 GMT), briefly rising past $97,000 earlier in the day. USDT clocked a 1.4% drop in market capitalization over the past week to about $137 billion, with the decline coming largely after the implementation of MiCA in the EU. The law establishes strict regulations for stablecoin issuers within the bloc, including new requirements for capital reserves and liquidity. The law also requires stablecoin issuers to gain a license to operate in the EU. USDT is by far the world’s biggest dollar-pegged stablecoin, and is an integral part of the crypto market in that it facilitates a bulk of transactions. This exposure could mitigate the overall impact of MiCA on USDT, given its prevalence in the crypto market. Broader crypto prices extended their recent recovery into Friday, with most major altcoins logging strong gains after a weak start to the year. But despite their year-end losses, most major altcoins were sitting on stellar gains through 2024, as investors bet that friendlier regulations under Trump will draw more capital into cryptos beyond Bitcoin. World no.2 crypto Ethereum rose 1.1% to $3,454.56, while world no.3 crypto XRP rose 1.6% to $2.4405. Solana, Cardano and Polygon rose between 0.4% and 2%, while among meme tokens, Dogecoin added 2.1%. More

Bitcoin historian Pete Rizzo brought this fascinating fact to light in a recent X post, prompting reflection in the crypto market.In January 2023, while Bitcoin traded above the $16,000 mark, Cramer referred to it as “phony and a scam,” adding that crypto prices are “being propped up by people who want them propped up.” Cramer previously invested in Bitcoin, Ether and non-fungible tokens (NFTs), but he sold all of his crypto assets before that time.The Mad Money host would later go on to warn investors to stay away from crypto, telling them to get their money out while they could. Cramer also stated he would “not touch crypto in a million years” as he believed they were primarily scams.Fast forward to January 2025, and Bitcoin is now trading above $96,000. Taken from the time of Cramer’s statement (going by the CNBC “Squawk on the Street” video clip shared by Rizzo) when Bitcoin was trading at $16,807, the lead cryptocurrency has gained nearly 473% since then.CNBC recently published a compilation of Bitcoin price predictions for 2025. Matrixport, a crypto financial services firm, predicts that Bitcoin will reach $160,000 by 2025. Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital (TSX:GLXY), believes Bitcoin will cross $150,000 in the first half of the year before reaching $185,000 in the fourth quarter.Standard Chartered (OTC:SCBFF)’s Geoffrey Kendrick predicts Bitcoin’s price to double. The bank’s head of digital asset research predicted that Bitcoin would reach $200,000 by the end of 2025.Sid Powell, co-founder and CEO of centralized finance platform Maple Finance, believes Bitcoin will trade between $180,000 and $200,000 by the end of 2025.This article was originally published on U.Today More

His Hashcash algorithm was a big part of how Bitcoin’s mining process was set up, and it had a direct impact on the creation of the cryptocurrency’s proof-of-work model. More to it, Back’s contributions have been acknowledged in Satoshi Nakamoto’s 2008 white paper, which highlights his role in shaping the foundational elements of the cryptocurrency. But even though he was involved, the original cypherpunk never actually got Bitcoin during its early days.It turns out Back did not own any Bitcoin before 2013, when the leading cryptocurrency now worth over $2 trillion in market capitalization was first gaining traction outside the small circle of cypherpunks.Thus, in a recent conversation Back admitted that he was “an idiot” and did not buy or mine Bitcoin in 2009, when it was created by Nakamoto.As a result, the first steps into buying BTC he cautiously made in 2013. In the next 11 years the price of BTC increased by at least 50,000% and Back himself founded Blockstream, a blockchain technology company that develops infrastructure for Bitcoin and other decentralized systems. Blockstream is known for innovations like sidechains, Liquid Network and the Bitcoin satellite network.This article was originally published on U.Today More

According to a report by DWF Labs, the market capitalization of meme coins skyrocketed from $20 billion in January to over $120 billion by the end of 2024, up 500% within a single year.These digital tokens rely heavily on social capital, where their value is determined by community engagement and cultural resonance rather than traditional financial metrics. DWF Labs, whose founders made their money as crypto high-frequency traders, says that this trend reflects a generational shift, particularly among younger investors who prioritize “creativity, accessibility, and collective identity” over conventional investment strategies.Meme coins follow a distinct lifecycle. Their journey begins with deployment, a process that has been streamlined by platforms like pump.fun, which allow creators to launch tokens within hours and with minimal investment. “What previously required weeks of development and significant capital can now be accomplished in under an hour with minimal initial investment, dramatically lowering the barriers to entry for creation in digital markets,” DWF Labs comments on how this ease of access dramatically lowered the barriers to entry.Once launched, the focus turns to community building. Social platforms such as X, Telegram, and Discord are critical for creating a narrative and engagement. As communities form, they generate momentum that propels the tokens into the trading phase. Decentralized exchanges and automated market makers enable easy trading. According to DWF Labs, this dynamic feedback loop is a key factor behind the explosive growth of meme coins.The final stage of the lifecycle is value creation and distribution, where communities sustain the ecosystem. DWF Labs points out that this grassroots-driven approach overturned traditional value systems, allowing projects to thrive based on collective participation rather than institutional backing.“This lifecycle represents a fundamental shift from traditional token launches, where success relied heavily on initial capital and institutional support. In the modern memecoin ecosystem, community engagement and social capital serve as the primary drivers of value creation, enabled by accessible technology and streamlined deployment processes.”The report also discusses the maturation of the meme coin sector, citing examples like DOGE/USD and Investing.com Shiba Inu Index. Newer tokens are blending meme culture with utility, particularly in areas like artificial intelligence, creating a more sophisticated model that appeals to both retail and institutional investors.DWF Labs concludes that the challenge in the future will be balancing the playful origins of meme coins with its sustainable development. More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced the launch of the Bybit Merch Creative Challenge, an exclusive design competition open to university students worldwide. This exciting initiative offers a unique opportunity for creative minds to showcase their talent, win a share of a $50,000 USDT prize pool, and have their designs featured as part of Bybit’s official merchandise.Embracing the Crypto Future with Young TalentThe Bybit Merch Creative Challenge reflects the company’s commitment to fostering a vibrant global community and embracing the growing influence of cryptocurrency. By leveraging the creativity and innovative spirit of young minds, Bybit aims to inspire the next generation of designers and empower them to contribute to the evolving crypto landscape.Competition DetailsParticipants are invited to design exclusive Bybit merchandise that reflects the brand’s dynamic identity, core values, and bold personality. Submissions will be evaluated based on creativity, functionality, market appeal, and adherence to Bybit’s brand guidelines.Key Dates:#Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: [email protected] updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

In the meantime, the price of the second largest canine-themed cryptocurrency Shiba Inu has spiked by almost 8%.The number of meme coins burned totals 1,877,749 SHIB. From this amount, a 1,000,707 SHIB batch was removed from the circulating supply in a single transfer.However, many SHIB enthusiasts took that tweet from Shibburn skeptically, since these burns are still too small to reduce the circulating supply significantly in the next year or two. The whole point of token burns is the reduction of the total supply in order to make a coin more scarce and give it a chance to skyrocket in price. Still, only half of the initial quadrillion SHIB supply has been burned so far.The majority of that amount of was removed from circulation by Ethereum co-founder Vitalik Buterin back in May 2021 when he received that huge SHIB amount from its mysterious founder Ryoshi as a sign of respect.As for December, SHIB fans transferred 2,679,767,542 Shiba Inu to dead-end blockchain wallets.The meme coin has followed the world’s most popular cryptocurrency Bitcoin and its price spike as BTC soared by 3.81% since Jan. 1, rising from $93,070 to $96,520, where it is trading at the time of writing this material.As is the whole cryptocurrency market, SHIB is very sensitive to price movements of Bitcoin and usually follows BTC whether it goes up or down.This article was originally published on U.Today More

Kiyosaki also revealed the big role that Bitcoin played in the making of his fortune.According to the tweet, Kiyosaki always tells his clients this. “I like, study, and listen to people smarter than me…. When it comes to Bitcoin,” he wrote.The financial expert said that Bitcoin has helped him become “very rich” and will make him even richer. However, he said that it was not only Bitcoin but also his investments in real estate, gold and silver that made him very rich. “Bitcoin, real estate, gold, and silver have made me very rich, and I plan on getting richer,” Kiyosaki stated.Kiyosaki is known to have made a fortune investing in real estate in the 2000s, especially during the mortgage crisis of 2008-2009, when commercial real estate dropped in price, and he began to accumulate it.Later, he started investing in physical gold, silver and digital gold — Bitcoin.What is more, Kiyosaki claimed that BlackRock was keeping the Bitcoin price down, below $100,000, to allow whales to accumulate more BTC. He also specified that he prefers to buy Bitcoin directly and keep BTC in his digital wallet, rather than investing in spot BTC ETFs, in particular the one offered by BlackRock. Kiyosaki said he would keep buying Bitcoin since BTC continues to grow.This article was originally published on U.Today More