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Bitcoin’s sharp rally has Bitwise CIO Matt Hougan rethinking how fast the crypto could skyrocket, as investors rush to position themselves ahead of the next big surge. “People don’t want to be left behind if and when crypto takes off,” he stressed. “There is a lot of dry powder on the sidelines.” He predicted: “As … Read more
Hunter Horsley, co-founder and CEO of Bitwise, a $4 billion crypto fund manager, believes that banks will accelerate the participation of many investors in the cryptocurrency market. Horsley predicted that in 12 months, the stance of many crypto adopters will change, declaring that banks will be regarded as “the best thing that ever happened to … Read more
Joseph Stiglitz has referred to the possible effects of a hypothetical victory by Donald Trump in the upcoming U.S. presidential election. The Nobel laureate specified that Trump’s threats to raise China’s import tariffs and his radical “zero-sum” view of the world could result in a fundamental shift in the current U.S. economy. Nobel Laureate Joseph … Read more
The latest data highlights that the stablecoin market currently sits at $173 billion, with two recently introduced U.S. dollar-backed stablecoins showing significant growth. The decentralized finance (defi) project Sky, previously known as Makerdao, has minted 1.11 billion USDS, adding approximately 104 million coins to its supply over the past five days. In a parallel development … Read more
Utah Republican senator Mike Lee outlined three major regulatory risks to the cryptocurrency industry at the recent Permissionless III crypto conference. They are the creation of a central bank digital currency (CBDC), fragmented state regulations, and heavy federal oversight. He warned these could threaten the digital assets sector, saying, “Cryptocurrency is not a security. Cryptocurrency … Read more
Rune Christensen, the founder of Sky (formerly MakerDAO), is close to offloading the last of the 25 million $LDO tokens he originally received as an early member of Lido Finance’s decentralized autonomous organization (DAO). On December 17, 2020, Christensen was allocated 25 million $LDO when the token was priced at $1.75. Since 2022, Christensen has … Read more
In the past 24 hours, $AXL has seen a remarkable 42% price increase, further fueled by a significant deposit from DWF Labs. Just three hours ago, DWF Labs transferred 500,000 $AXL (valued at $420,000) to Binance, catching the attention of market observers. Despite this deposit, DWF Labs still holds a substantial 2.5 million $AXL, currently … Read more
TRON’s native cryptocurrency, TRX, has undergone a notable reduction in its circulating supply over the past year, dropping from 88.97 billion to 86.56 billion tokens. This decrease, amounting to -2.93%, equates to approximately $381.2 million in value. The decline is attributed to ongoing token burns and strategic mechanisms aimed at bolstering long-term value and scarcity. … Read more
The 2023-24 Bitcoin bull market has experienced a -26% drawdown on a closing basis, a figure consistent with prior uptrend cycles. Despite Bitcoin’s historical resilience, the recent correction marks the most significant decline since the FTX collapse, highlighting a particularly challenging period for market demand. However, larger stablecoin balances on exchanges have positively correlated with … Read more
Last week, MicroStrategy’s ($MSTR) premium skyrocketed to a historic high of 161%, fueled by growing market excitement. The surge in interest comes as the company prepares to adopt the new ASC 350 accounting standard by 2025, allowing them to report Bitcoin holdings at fair value. This change could add approximately $3 billion to MicroStrategy’s retained … Read more