Cryptocurrency

In recent meetings, the Securities and Exchange Commission (SEC) hinted at the possibility of an ETF approval, contributing to a more optimistic market outlook. This optimism persists despite earlier price drops and significant liquidations reported by Coinglass.Bitcoin Minetrix intends to use the majority of the raised funds to expand its mining operations and to enhance its marketing efforts. The company’s cloud-mining model is designed to offer investors a way to participate in cryptocurrency mining with reduced risk, especially during periods of market volatility.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

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The development of the digital euro rulebook is a collaborative effort, incorporating feedback from a wide range of stakeholders, including consumers and merchants. The draft is under active review and will be further refined to ensure it covers critical aspects such as user experience, branding, and the capacity to adapt to potential legislative changes.ECB President Christine Lagarde has highlighted the preparatory stage for the digital euro, which is expected to span two years. This period will be crucial for laying the groundwork and ensuring that the digital euro can meet the diverse needs of the European economy while maintaining high standards of risk control and communication.As the ECB progresses with this digital currency project, future updates to the rulebook will include detailed guidelines on communication protocols and risk management strategies essential for the security and efficiency of the digital euro system.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Earlier this week, Bitcoin’s value dipped but has since recovered, reaching $43,852, which represents a 1.79% increase. The recovery and the heightened activity by large investors underscore the cryptocurrency’s volatility and the keen interest of market participants in regulatory developments.Investors and analysts are speculating that the approval of Bitcoin spot ETFs by the SEC could attract institutional investors and encourage mainstream investment in the cryptocurrency. The market’s attention is fixated on the SEC’s impending decision, as it is expected to influence Bitcoin’s accessibility to a broader range of investors and possibly catalyze further adoption of cryptocurrencies.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

According to , the Vitalik Buterin-labeled address made a move of 3,300 USDC in the early hours of today.The reason for the transfer is not far-fetched: the Ethereum cofounder was merely reshuffling funds as the said 3,300 USDC were moved to a new address.The is dipping alongside the rest of the crypto market, down 5.71% in the last 24 hours to $2,246. The crypto market witnessed a slump after speculations arose about MatrixPort’s bearish prediction for Bitcoin spot ETF approval.Amid the current slump seen on the ETH price, crypto analyst believes that Ethereum is still showing momentum but has a big gap to traverse to be at the same level as Bitcoin. Ethereum might see a bit of consolidation before continuing toward $3,000–$3,500 during Q1, 2024.At the end of 2023, Ethereum published the Ethereum roadmap going forward, conceding that there are only small differences from the previous year.Buterin stated in a series of posts on X (previously Twitter) that Ethereum’s sustained focus in 2024 will be on six essential components. Buterin expounded on these six parts — Merge, Surge, Scourge, Verge, Purge and Splurge — in a thorough chart with commentaries and graphics.Buterin already indicated his intention to revive the original vision of the “cypherpunk” revolution for the Ethereum blockchain, as previously reported.This article was originally published on U.Today More

This move comes as Nigeria continues to integrate blockchain technology into its financial system. The cNGN stablecoin, not to be confused with the eNaira, is set to operate across multiple blockchain platforms, including Bantu, BNB Smart Chain, Polygon, Ethereum, and Tron. The introduction of the cNGN is aimed at enhancing the process of remittances, leveraging the efficiency and affordability of blockchain technology, while also ensuring consumer protection is a top priority.The approval of the cNGN stablecoin is a significant step following a December banking circular that viewed cryptocurrencies in a positive light. This shift in the financial landscape reflects Nigeria’s high rate of cryptocurrency adoption, which has been driven by the depreciation of the naira and the country’s recognition of the growing global demand for digital currencies.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Many decided that this was a hint at the bullish for crypto.Many crypto-themed accounts, including Crypto Capital Venture founder Dan Gambardello and analyst Will Clemente started asking whether this is about the SEC approving the spot Bitcoin ETF.“Blink twice if you’re talking about the bitcoin ETF,” another crypto fan commented.No responses as to what this tweet actually meant were provided by Scaramucci.This news made the world’s flagship cryptocurrency Bitcoin collapse by nearly 7%, falling loudly from $45,366 to the $42,202 level within just several hours. Traders began liquidating their long positions and wiping $730 million worth of cryptocurrencies from the market. Major altcoins, such as Ethereum, XRP, Solana and others, also began going down in price rapidly. XRP fell the hardest, losing approximately 10% of its price.Since then, Bitcoin first managed to recover by 5.4%, rising to $44,498. By now, after another 4.25% fall and a 2.81% recovery, digital gold Bitcoin is .Many within the cryptocurrency community urged holders not to sell their Bitcoin just because of the Matrixport article. Still, experts believe the SEC is likely to green-light spot Bitcoin ETFs in January or in the first quarter anyway, naming March as another likely month for this decision.Bitcoin ETF approval is expected to bring billions of USD into the crypto space. Another major trigger for a potential Bitcoin price surge is expected to be the fourth BTC halving expected to happen in April.This article was originally published on U.Today More

The decision expected as early as next week could have a significant impact on the price and adoption of Bitcoin and other cryptocurrencies.While the market waits, large holders known as whales are making moves for major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).According to data from , a crypto data tracker, whales have made several massive transfers of BTC, ETH and DOGE in the last 24 hours.Whale Alert reports three massive transactions of 14,648 ETH, 20,997 ETH and 10,051 ETH in recent hours. Whale Alert also observed eight large BTC transactions ranging from 1,101 to 1,108 BTC migrated to Robinhood (NASDAQ:HOOD) in the last 24 hours.According to , in the past 24 hours, Bitcoin experienced its largest spike in transactions over $100,000 in nearly two years.He adds that the 16,900 large transactions might serve as a proxy for BTC whale activity, offering insights into how these major players might be positioned in the crypto market.Two massive transactions involving 883,016,276 DOGE and 307,491,734 DOGE moved in between wallets were also recorded. These transactions imply that whales are either accumulating or distributing their assets based on their outlook and strategy.Grayscale’s Chief Legal Officer Craig Salm tweeted that he was “just filling out some forms,” which sparked speculation that clearance could come much sooner than the expected Jan. 8-10 date.However, Bloomberg ETF analyst James Seyffart dismissed much of the talk concerning a much earlier approval as noise, saying he still expects approval between Jan. 8 and 10.”Lot of noise about tomorrow. Sticking to this. I’m not expecting official bitcoin ETF approval orders tomorrow. Still expecting them January 8–10,” Seyffart stated in a tweet.BlackRock (NYSE:BLK), Valkyrie, ARK Invest/21 Shares, Bitwise and Fidelity are among the 14 issuers bidding for a spot Bitcoin ETF.This article was originally published on U.Today More