Cryptocurrency

Saylor’s tweet underscores his commitment to Bitcoin, a stance he has maintained since MicroStrategy began accumulating the cryptocurrency in 2020. MicroStrategy’s market worth has increased from $1.5 billion to more than $40 billion in the four years since. Saylor owes the company’s success to its Bitcoin strategy.Saylor’s declaration that he is “working for Bitcoin” might suggest deeper involvement in the Bitcoin ecosystem beyond just corporate investment. This might reaffirm his deep commitment to promoting and advancing the adoption of cryptocurrency.His statement implies that Bitcoin is more than just an asset he believes in but a movement that he actively supports and grows.This rise has seen the market break past the combined barrier of the 200- and 111-day moving averages, to which Bitcoin investors typically respond. Open Interest in both perpetual and fixed-term futures contracts reached a new all-time high of $32.9 billion this week, indicating a significant rise in aggregate leverage entering the system.Interestingly, the 365-day SMA has historically acted as either support or stubborn resistance at macro market inflection points. Recently, the 365 DMA acted as strong support, a key level that will be watched in the coming days. At the time of writing, BTC was down 1.72% to $66,428.Traders are concerned that the central bank might be less likely to cut interest rates, even as the Fed had forecast another half-point worth of cuts before the end of the year. Investors will be keeping an eye on the latest comments from Fed officials on Wednesday.This article was originally published on U.Today More

The author just delivered a new epic statement on his X (formerly Twitter), where he straightforwardly stated that the time to buy more Bitcoin or say goodbye to such an opportunity at current prices is now. As a focal point of Kiyosaki’s statement is the so-called “Uptober,” as the month of October is commonly called by crypto enthusiasts. Due to the history of major price appreciation in the 10th month of the year throughout the life period of the cryptocurrency market, it indeed often showed a bullish October. And indeed, since the beginning of the month, the price of Bitcoin soared more than 5.1% and reached a multi-month high above $69,500. On the other hand, the rest of the cryptocurrency market literally did not move in those 23 days, according to the TOTAL2 index, which tracks alternative digital assets. But we are talking about Bitcoin, and despite not beating its all-time high and overall chop performance, it is still “Uptober” for the main cryptocurrency. Having said that, Kiyosaki’s vision becomes clearer.Previously, the prominent author predicted that Bitcoin will reach at least $100,000 by the end of the year. Next, according to him, BTC will be up to $1 million in 2025. This article was originally published on U.Today More

Per his tweet, Bitcoin is underperforming gold so far.In October, which crypto traders prefer to optimistically call “Uptober”, 1 Bitcoin became valued in 24 ounces of gold as the precious metal soared to an all-time high for the first time in four years: $2,713.88 per ounce. This is ratio is lower than it was in March (34 ounces per 1 BTC) and even lower than in 2021 when 1 Bitcoin could be bought with 37 ounces of gold.McGlone says that it could mean that Bitcoin may face headwinds in the near future, especially since the stock market remains at a relatively high level, while BTC is falling back.As reported by U.Today recently, Bitcoin advisor to El Salvador’s president Nayib Bukele Max Keiser stated that he believes the world’s largest crypto is likely to finally reach the $220,000 level soon because gold, which is also a safe haven, has reached the above-mentioned historic peak.Mentioning that Bitcoin’s and copper’s Betas need to increase, McGlone hints that Bitcoin’s volatility needs to stage a big increase if BTC wants to carry on growing in price.This article was originally published on U.Today More

This article was originally published on U.Today More

On Wednesday, DOT was trading down by 3% amid wider weakness observed in risk assets. The sluggish performance comes after a busy week in the market, with daily trading volume shooting up by more than 50%.Even with the recent dip, short-term traders are keeping a close eye on DOT after it broke out of a falling wedge pattern, which usually hints at the chance for more gains ahead. The positive vibes surrounding Bitcoin’s push to $69k also helped lift sentiment across the crypto space.However, Polkadot traded mostly in the red over the past month, which led some to question whether investor interest is fading. After hitting a high of $4.57 over the weekend, DOT struggled to maintain momentum and dropped back below $4.50 on Monday. This week’s action has been a bit choppy, with the price hovering just above and below the 20 and 50-day Simple Moving Averages (SMAs). Some analysts are suggesting that if sellers remain in control, the price could dip further, possibly heading towards the $4 mark.That said, there’s still some optimism about DOT’s future. Some experts believe that Polkadot could follow a pattern similar to other altcoins, with price predictions ranging from $9.70 by the end of 2024 to even higher targets by 2025 if the current momentum holds.Elsewhere, Bitcoin’s price has been consolidating near all-time highs, but recent data shows a cooling in institutional demand. For Polkadot, this cooling off in interest could reflect similar consolidation patterns. Polkadot faces its own challenges, slipping below key price levels and seeing selling pressure in recent sessions. As Bitcoin’s performance often sets the tone for the wider crypto market, Polkadot has been hovering between $4 and $5, but a push past its consolidation phase could attract new interest. More

UAE-based Bill Qian, Seyed Mohammed Alizadeh Fard (Bijan) (Phoenix Group), and Stefan Piech, (Cypher Capital), have announced the launch of their first book, titled “Lessons Learned (The Story of Crypto Winners and Losers).”“Lessons Learned” takes an in-depth look at the dramatic rise and fall of fortunes in the crypto space. More than just a compilation of advice and observations, it delves into the human stories behind the technology, offering insights into the decisions, risks, and opportunities that have shaped this revolutionary field.Lessons Learned uncovers key lessons from the crypto realm including:● The critical role of regulatory environments● The impact of continuous technological innovation● The importance of security and risk management● The promise of financial inclusionFor more information and to purchase the book, visit hereAbout the AuthorsMr. Seyed Mohammad Alizadehfard (Bijan)Co-founder and Group CEO of Phoenix GroupMr. Seyed Mohammad Alizadehfard (Bijan), serves as Board Member, Co-founder and Group CEO of Phoenix Group, a publicly listed tech conglomerate that ranks among the world’s largest Bitcoin mining operators. Bijan is a leader within the blockchain ecosystem and has a longstanding track record of spearheading blockchain adoption in the MENA region and globally.Bijan also founded and established Cypher Capital, a leading early-strategy venture firm investing in crypto, blockchain and other digital asset projects. Cypher Capital is widely regarded as a pre-eminent Web3-focused venture capital firm in the MENA region and is notably recognised globally with its highly successful track record of investments.Bijan believes in working with visionary innovators, outstanding talent and other venture capital partners to create a holistic Web3 and blockchain community, whereby the ecosystem can benefit and grow for a more decentralized future for all. Bijan is also focused on promoting technological innovation throughout the UAE.Bill QianManaging Director and Chief Investment Officer (CIO) at Phoenix GroupBill is the Managing Director and Chief Investment Officer (CIO) at Phoenix Group. He is responsible for overseeing investments for Phoenix Group and Cypher Capital. Prior to joining Phoenix Group, Bill worked as the Global Head of Fundraising, Mergers and Acquisitions for Binance Labs, the world’s largest cryptocurrency platform, responsible for 55% of the global market share and with transactions worth $34 trillion in 2021.Before joining Binance, Bill was the Head of Investment for Fintech/Tech at JD (NASDAQ:JD).COM, a major Asian internet company with over $400 billion in annual e-commerce transactions. He has also worked with Trustbridge Partners, a private equity fund with over $15 billion in assets under management, and has managed more than $20 billion across Web 1.0, Web 2.0, and Web 3.0 projects throughout his career. Bill sees himself as a “web-native investor”, looking for phenomenal founders in the Web 3.0 industry.Stefan PiechFounder of AmagiStefan Piech, is the founder of Amagi, a Web3 research and advisory firm. He is a Venture Partner at Cypher Capital and author of the book “Tokenomics – Mastering the Art of Token Design”. He previously worked for the Binance Research team. Prior to joining Cypher, he worked as Equity Portfolio Manager at Cape Capital, a Swiss Family Office, and for BlackRock’s European and UK Hedge Fund.About Phoenix Group:Phoenix Group, a multi-billion-dollar tech powerhouse headquartered in the UAE, leads the forefront of the blockchain, crypto, and tech revolution, driving innovation to new heights. In 2017, Bijan Alizadeh Fard and Munaf Ali laid the foundation for what would evolve into the Phoenix Group – a conglomerate comprising several thriving businesses. Beyond the web3 sphere, they offer comprehensive solutions, boast a 765MW mining operation, and fuel growth through strategic collaborations and innovation.Phoenix Group operates multiple mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.Phoenix Group PLC is the region’s first crypto and blockchain conglomerate to be listed on the Abu Dhabi Securities Exchange. It also runs the largest mining farm in the MENA region.Social presence:X (Formal Twitter): https://twitter.com/phoenixgroupuaeLinkedIn: https://www.linkedin.com/company/phoenixgroupuae/Website: https://phoenixgroupuae.com/press/ContactPhoenix Group PLCir@phoenixgroupuae.comThis article was originally published on Chainwire More

The latest report from Spot on Chain highlights the market’s shift, with U.S. Bitcoin ETFs experiencing outflows after seven consecutive days of strong inflows. Despite Bitcoin hovering around $67,200, BlackRock (NYSE:BLK)’s IBIT continued its aggressive accumulation, adding 22,480 BTC, worth $1.51 billion, over the last week, bringing its total holdings to 392,121 BTC.This development comes just days after a CoinShares report revealed significant inflows into crypto ETPs, with $2.2 billion entering the market, marking the largest inflows since July. However, the shift in Bitcoin ETF flows, despite Ethereum’s gains, has exposed cautious market sentiment. Outflows, while below $100 million, have added to concerns that investors are growing wary of the cryptocurrency market.The broader altcoin market has also suffered, with the TOTAL2 index, which tracks the market capitalization of non-Bitcoin cryptocurrencies, declining by over $40 billion since the start of the week.Despite BlackRock’s significant buying activity, market participants remain cautious, reacting sensitively to any market news. The recent outflows suggest that confidence is still shaky, even as major institutional players like BlackRock maintain a strong presence.This article was originally published on U.Today More

exSat Network, a scaling solution designed to unlock and scale the Bitcoin ecosystem, is pleased to announce its official mainnet launch today. This milestone marks a significant step for the exSat community and the broader blockchain ecosystem.Satoshi envisioned Bitcoin as a revolutionary alternative to traditional financial systems, giving users greater freedom, control and security. While 94% of Bitcoin has already been mined, Satoshi’s vision remains largely unrealized. exSat is purpose built to bring that vision to life through scaling Bitcoin’s utility and unlocking a new class of real-world applications.In collaboration with leading industry names such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus (NYSE:WHD) Custody and others, exSat’s mainnet launched smoothly with 41 Validators, each staking a minimum of 100 BTC. Validators secure the network by validating transactions, while synchronizers, including Antpool, Spiderpool, viaBTC and F2Pool, synchronize Bitcoin’s UTXO data. These synchronizers, representing over 53.4% of Bitcoin’s hash rate, ensure unmatched trust and security.As part of this launch, the XSAT token generation event took place. XSAT serves as the token for the Network, combining the robust security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS). XSAT was modeled after Bitcoin’s fair launch principles, with no pre-mining or pre-allocations, ensuring transparency and equality for all participants. XSAT is earned by mining native Bitcoin blocks, synchronizing and validating data on the network. Launching with over $281 million in Total Value Locked (TVL), exSat has emerged as one of the largest projects in the Bitcoin ecosystem. Following the announcement of the Matrixport partnership at Token2049, TVL is expected to continue to grow. Matrixport has committed to staking 5,000 to 10,000 nBTC into the network. Additionally Matrixport will assist with dApp development, helping to kickstart exSat’s ecosystem. By mirroring Bitcoin’s UTXO data on-chain, the network stands alone in its ability to create a decentralized UTXO index for Bitcoin.This breakthrough enables BTCFi, expanding Bitcoin’s utility while maintaining trust and security, unlocking the ecosystem’s nascent potential. For more information about the exSat Network launch and to stay updated on upcoming developments, visit exSat Twitter and website. About exSat NetworkexSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin. By implementing a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat aims to enhance BTC’s data consensus, scalability, security, and interoperability within the ecosystem.ContactCMOTristan DickinsonexSattristan.dickinson@exsat.orgThis article was originally published on Chainwire More