The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange by the Chicago Board Options Exchange (CBOE).Continue Reading on Cointelegraph More
A whale, known to have narrowly avoided the FTX/Alameda crash by timely withdrawing ETH from the exchange, executed a sale of 6,099 ETH for 12 million USDC at a price of $1,964 per ETH, pocketing approximately $14.3 million. This transaction, occurring just fourhours ago, has raised questions among the trading community: is this whale’s trading pattern worth emulating?Reviewing the whale’s historical activity since December 2022 reveals a series of 22 buy and sell actions, suggesting a strategic approach to trading. However, it is crucial to note that the whale does not consistently buy at the lowest and sell at the peak prices. Instead, they exhibit a pattern that sometimes involves buying and selling in quick succession, regardless of significant price fluctuations, indicating a complex that may factor in more than just immediate market prices.This behavior indicates a level of risk-taking and a nontraditional strategy that may leverage market sentiment, news or other indicators not immediately apparent to the average trader. The whale’s approach, while lucrative in some instances, also comes with its own set of risks, as rapid trading amid volatile price movements can lead to unpredictable outcomes.The community is often tempted to mirror the trades of these whales under the assumption that they have access to privileged information or superior market insights. However, the unpredictable nature of these “weird moves” suggests that copying such trading patterns without a deep understanding of the whale’s strategy could be precarious.The Ethereum market remains vibrant and fluid, with significant trades by whales adding to the complexity of market dynamics.This article was originally published on U.Today More
Speaking to Cointelegraph journalist Joe Hall at Web Summit 2023 in Lisbon, Portugal, Heatbit founder Alex Busarov believes that mining farms, data centers and small-scale computing power providers are far more clued up on Bitcoin mining than the nascent AI and ML infrastructure space.Continue Reading on Cointelegraph More
The leading cryptocurrency, Bitcoin, saw fluctuations within the last 24 hours, reaching a high of $37,907 and subsequently dropping to a low of $35,561. Despite the dip in value, Bitcoin’s market dominance remains significant at 52.23%. The total spot trading volume for Bitcoin decreased by nearly 8% to $26.223 billion.In contrast to the crypto market’s performance, traditional markets showed mixed results. The S&P 500 edged up slightly by 0.12%, while the FTSE/JSE Top 40 in South Africa marked a minor decline of 0.19%. Indicators such as the Fear and Greed Index and the Relative Strength Index (RSI), sitting at 57.01, were reported to provide insights into market sentiment.As digital currencies continue to attract attention from financial institutions, reports indicate that three out of four wealth managers are preparing to increase their exposure to cryptocurrencies. However, amidst these developments and despite the recent rally, investors are reminded to proceed with caution when engaging with the volatile crypto market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Ethereum, the second-largest cryptocurrency, remained at $1,981 despite registering a 6% increase over the week. Its trade volume stood at $14.5 billion, yet the price stability on the day also suggested bearish pressure.In contrast to Bitcoin and Ethereum, Dogecoin showed a bullish trend with a significant 7% rise on the day and a 10% increase over the week, reaching a price point of $0.0824 and a trade volume of $1.8 billion.Following suit with Dogecoin’s positive momentum, Hedera and Mantle also rode the bullish wave. Hedera’s price reached $0.067 and Mantle’s hit $0.5169, with their respective trade volumes at $113 million and $138 million. The price movements for these assets were accompanied by high volatility, as indicated by Bollinger bands—a technical analysis tool that measures market volatility and price levels.Today’s cryptocurrency market dynamics highlight a divergence in investor sentiment across different digital assets, with some like Dogecoin capturing bullish interest while others like Bitcoin face downward pressure amidst broader minor gains in global markets.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
On Nov. 16, SEC Chair Gary Gensler shared a video of him conducting a speech at the 2023 Securities Enforcement Forum. In the speech, he highlighted the words of the first SEC chair, Joseph P. Kennedy, saying that the government agency should be “partners of honest business and prosecutors of dishonesty.”Continue Reading on Cointelegraph More
Key advocates like Panos, co-founder of Anodos Finance, have voiced strong support for the integration of AMMs, predicting that it would increase buying pressure and liquidity for XRP. Panos argues that these changes will not only attract more traders but also bolster XRP’s utility in various use cases. He maintains that despite the new addition, XRP’s core characteristics as the native currency of the Ledger will not be altered, ensuring its continued vitality.On the other hand, some members of the crypto community have raised concerns over how this move might affect XRP’s price stability. The debate has been particularly active on platform X (formerly Twitter), where influential voices like Digital Perspectives PermaBull have questioned whether these developments could potentially transform XRP into a stablecoin or classify it as a Group 1b Asset under the Prudential Treatment requirements from the Bank for International Settlements (BIS).Despite these concerns, Ripple Labs is unwavering in its commitment to digital payments innovation. The company regards the integration of AMMs as a significant step forward in reshaping the landscape of digital payments. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The suggestions within the report play a crucial role in formulating a unified global regulatory approach to address the substantial risks to investor protection and market integrity posed by centralized crypto asset intermediaries known as crypto asset service providers (CASPs).Continue Reading on Cointelegraph More
