Uploading his latest BTC price estimates to X (formerly Twitter) on Oct. 17, popular trader and analyst CryptoCon deduced a two-year target of around $130,000.Continue Reading on Cointelegraph More
An upcoming token, TIA, is the native crypto asset of Celestia, a modular blockchain network that enables anyone to easily deploy their blockchain with minimal overhead.The period of the promotion event spans from Oct. 17, 2023, 10:00 a.m. (UTC) to Oct. 24, 2023, 10:00 a.m. (UTC).Crypto investor sentiment appears to be reviving, with CoinShares reporting three consecutive weeks of inflows for digital asset investment products despite the trading volume being down 27% below the 2023 average.had $16 million inflows in the last week, pushing the year-to-date total to $260 million, while short-Bitcoin saw $1.7 million inflows last week as well.had inflows of $0.42 million in the past week. This is the 25th week in a row that XRP has seen inflows. The steady inflows demonstrate the community’s support in light of the SEC appeal request denied by Judge Torres.Despite the recent debut of a futures-based ETF, Ethereum has seen minimal interest from investors, with outflows of $7.5 million last week canceling out much of the prior week’s inflows.Several large financial institutions have applied to launch spot Bitcoin ETFs in the United States, with approvals potentially on the horizon by March 2024 at the latest.CryptoQuant, an on-chain analytics firm, predicts that the introduction of a spot Bitcoin ETF may add up to $1 trillion to the cryptocurrency market cap.At the time of writing, XRP was down 0.39% in the previous 24 hours to $0.49; Bitcoin had fallen 0.30% in the same time frame to $28,401 and Ethereum had fallen 0.15% to $1,583. This article was originally published on U.Today More
Tesla’s adventure began with a bang two years ago when the company invested a billion and a half in dollars in the cryptocurrency and announced plans to accept Bitcoin as payment for its vehicles, a move that significantly boosted Bitcoin’s market value at the time. Fast forward to the second quarter of 2023, Tesla disclosed that it had neither bought nor sold Bitcoin, maintaining a consistent digital asset balance of $184 million.BTC to USD by It is noteworthy that Tesla’s last Bitcoin transaction took place in the second quarter of the previous year, when the company offloaded more than 30,000 , equating to roughly 75% of its holdings, for a staggering $936 million.As the crypto community eagerly awaits Tesla’s latest Bitcoin holdings update, the entire industry braces itself for another major shift, one that could influence not only Bitcoin’s valuation but also the sentiment surrounding digital assets in general.This article was originally published on U.Today More
In the context of the Bitcoin ETF, the S-1 application essentially serves as a request to the Securities and Exchange Commission (SEC) to allow the issuance of an ETF that tracks the performance of Bitcoin.This development is significant considering the prevailing thesis surrounding the potential approval of spot Bitcoin ETFs. If greenlit, such could be a monumental catalyst for the cryptocurrency market. ETF approval would effectively open the floodgates for mainstream and institutional investors, offering them a regulated and familiar avenue to invest in the cryptocurrency without owning the asset directly. As these large pools of capital enter the market, it could lead to a surge in demand, thereby driving up the price.This is not just mere speculation. Recently, the crypto space witnessed how even false rumors about Bitcoin ETF approval propelled Bitcoin and the broader market to unparalleled highs. Such is the allure and potential impact of ETFs on market sentiment.Behind the scenes, it is widely believed that the SEC is in active dialogue with major providers, including industry giants like Fidelity, Ark Invest and others. The regulatory body’s decision to engage in these discussions demonstrates a warming stance toward the cryptocurrency sector. It is also seen as an indirect acknowledgment of the growing importance and mainstream adoption of digital assets.In a nutshell, Fidelity’s updated application for a spot Bitcoin ETF is more than just a routine financial procedure. It represents a potential turning point in the cryptocurrency market’s journey toward mass adoption. If the SEC greenlights these applications, it could become a significant driver for the crypto market, ushering in a new era of institutional investment and credibility.This article was originally published on U.Today More
Despite an initial hike in BTC price from $26,761 to $27,489, it slid back to $26,900 within a month and is projected to fall below $26,000. In contrast, SPCT offers an attractive alternative with its diverse investment opportunities in blockchain projects and startups. The community-driven platform leverages artificial intelligence trading systems for market trend analysis and risk mitigation. VC Spectra’s protocol employs Spectra Token (SPCT), a BRC-20 standard governance token compatible with most Ethereum wallets. The altcoin has seen a remarkable 587% growth from its initial presale price of $0.008 to $0.055 during Stage 4 of its public presale. The company aims to cross the $0.080 mark by the end of the presale, offering a 100% deposit bonus as an incentive.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
In an Oct. 18 research note, Berenberg lead analyst Mark Palmer said the primary driver of his “cautious stance” toward Coinbase (NASDAQ:COIN) comes from the various regulatory actions being levied against it in the U.S., along with political headwinds emanating from the Israel–Hamas conflict.Continue Reading on Cointelegraph More
“It is digital that moves help to people, investment and ability of the economy to accelerate,” Georgieva said, citing digital cash transfers in the African nation of Togo put in place during the COVID-19 pandemic. She urged for comprehensive national strategies for financial inclusion but reminded the audience about the financial stability risks, which often correlate with digitalization. Continue Reading on Cointelegraph More
The provided graphical representation highlights Ethereum’s deflationary trend, juxtaposed with its network activity. An analysis of this chart brings forth some striking revelations. The burn rate is currently at 402K ETH per year, indicating that while transactions are ongoing and fees are being paid, a significant portion of Ether is being destroyed or “burned” but it is still not enough.Source: On the other hand, the supply growth shows an increase of 0.36% over a 30-day time frame. Moreover, the issuance sits at 834K per year, which underscores the increasing creation of new Ether in the ecosystem.However, even with these factors pushing Ethereum toward an inflationary stance, it is crucial to note that the net issuance for Ethereum stands at a mere 0.44% annually. When juxtaposed with Bitcoin’s inflation rate, Ethereum’s figure is still considerably lower.From a pricing perspective, has recently faced some challenges. The cryptocurrency has seen a retreat below the $1,600 mark, sparking concerns among investors and traders. With the current trajectory, Ethereum’s price is inching closer to the critical $1,400 support level, which historically played a pivotal role in March as a point of trend reversal.For now, Ethereum’s price movement indicates downward pressure. While it is showing some resilience around the $1,575 zone, the continuous testing of this support suggests a potential breakdown. If ETH fails to maintain this stance, the road toward the $1,400 mark might be its next destination.This article was originally published on U.Today More
