2023-12-09 13:42

Copyrighted Image by: Reuters The cryptocurrency market is abuzz with anticipation as Google (NASDAQ:GOOGL) Bard forecasts a substantial rally for Shiba Inu (SHIB) tied to the upcoming Bitcoin halving event. Analysts are closely watching the altcoin, which is often influenced by Bitcoin's market performance. The predictions suggest that if Bitcoin reaches the $100,000 mark following its halving, SHIB could experience a 433.29% increase to $0.00005564. An even more impressive Bitcoin surge to $250,000 could potentially propel SHIB by an astonishing 1,233% to $0.00013856. The enthusiasm surrounding Shiba Inu is not solely based on its correlation with Bitcoin. The dog-themed cryptocurrency's potential is also being fueled by the expected launch of Shibarium, a technological upgrade designed to enhance transaction capabilities. This development is poised to draw both investment and usage, contributing to SHIB's growth prospects. Moreover, Shiba Inu's appeal is further strengthened by an ongoing token burn campaign aimed at increasing its scarcity and thereby its perceived value among investors. Such strategic initiatives are reminiscent of past meme coin rallies and could signal a new era of heightened interest and value in Shiba Inu as these milestones approach. https://www.investing.com/news/cryptocurrency-news/shiba-inu-to-surge-on-bitcoin-halving-and-shibarium-launch-predicts-google-bard-93CH-3253145

2023-12-09 13:14

Copyrighted Image by: Reuters GLOBAL - In the dynamic landscape of cryptocurrency markets, shifts in trading volumes and market shares are highlighting changing patterns among exchanges. Bybit and OKX have made significant strides in the derivatives sector, capturing market shares of 11.94% and 20.2% respectively. This comes amid a backdrop of overall increased activity within the crypto market, which has seen its highest overall trading volume since March 2023. The Chicago Mercantile Exchange (CME) has also experienced notable uptrends in derivative volumes. Bitcoin futures open interest (OI) on CME has surpassed that of Binance, marking a significant milestone for the exchange. Additionally, Ethereum futures on CME have reached their highest point since February 2022, indicating a renewed interest in Ethereum-based derivatives. Despite Binance's trading volume reaching $1.26 trillion in November, it faced its lowest market share since October 2020. This decrease is juxtaposed with the growth of Bybit and OKX, whose trading volumes soared to $375 billion and $660 billion respectively. The shifting dynamics are not limited to derivatives; spot markets have also seen changes with Upbit joining Bybit and OKX in gaining market shares while Binance saw a downturn. In the broader context, centralized exchanges have recorded significant trade volumes, with spot trades nearing $1 trillion ($965.8 billion) and derivatives commanding over $2 trillion ($2.58 trillion). Derivatives trading, which accounts for a substantial portion of crypto transactions at 73.3%, reflects the growing appetite among traders for more complex financial instruments within the cryptocurrency space. The latest figures underscore a trend of diversification within the crypto exchange landscape as traders explore various platforms for both spot and derivative transactions. The rise of exchanges like Bybit and OKX alongside the CME's performance suggests a competitive and evolving market where multiple players are vying for dominance amid fluctuating market conditions. https://www.investing.com/news/cryptocurrency-news/crypto-trading-volumes-shift-as-bybit-and-okx-gain-market-share-93CH-3253141

2023-12-09 12:14

Copyrighted Image by: Reuters. CARACAS – Venezuelan prosecutor Tarek William Saab has accused ExxonMobil (NYSE:XOM) of involvement in a scheme to finance opposition activities against Venezuela's stance on the Essequibo territory. The allegations come in the wake of a December 3 referendum regarding the disputed area. Saab stated that the oil giant used USDT cryptocurrency and intermediaries to channel funds to conspirators opposing the Venezuelan government's position on Essequibo. As a result, fourteen arrest warrants have been issued for various individuals, including opposition leaders and former allies of the late President Hugo Chavez. The contentious referendum saw over 10 million Venezuelans cast their votes. According to Saab, the funding operation for the opposition involved individuals with ties to political figures from the United States and El Salvador. In response to these allegations, ExxonMobil CEO Darren Woods has denied any involvement in such activities. In a recent interview, Woods emphasized the company's focus on assisting Guyana with their resource development rather than engaging in political plots. This scandal is reminiscent of an earlier incident this year when officials from Sunacrip, Venezuela's cryptocurrency regulator, were arrested for corruption involving crypto transactions related to oil sales. The implications of these accusations could be significant for ExxonMobil's operations and relations in the region, especially given the ongoing geopolitical tensions surrounding the Essequibo territory. https://www.investing.com/news/cryptocurrency-news/exxonmobil-accused-of-funding-venezuelan-opposition-via-cryptocurrency-93CH-3253135

2023-12-09 08:19

Investing.com - EOS was trading at $0.8403 by 03:17 (08:17 GMT) on the Investing.com Index on Saturday, up 10.65% on the day. It was the largest one-day percentage gain since July 13. The move upwards pushed EOS's market cap up to $931.5131M, or 0.06% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B. EOS had traded in a range of $0.7907 to $0.8403 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 21.11%. The volume of EOS traded in the twenty-four hours to time of writing was $139.0901M or 0.21% of the total volume of all cryptocurrencies. It has traded in a range of $0.6877 to $0.8425 in the past 7 days. At its current price, EOS is still down 96.34% from its all-time high of $22.98 set on April 29, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $44,170.3 on the Investing.com Index, up 2.22% on the day. Ethereum was trading at $2,395.26 on the Investing.com Index, a gain of 1.75%. Bitcoin's market cap was last at $864.6441B or 52.20% of the total cryptocurrency market cap, while Ethereum's market cap totaled $286.6757B or 17.31% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/eos-climbs-11-as-investors-gain-confidence-3253115

2023-12-09 08:14

LONDON - The cryptocurrency market has been experiencing significant activity with both Bitcoin and Ethereum reaching yearly highs, causing a substantial increase in transaction fees. A recent market rally pushed Bitcoin to its annual peak price of $45,000 on December 5th before it stabilized above $43,000. Following this surge, IntoTheBlock reported on December 8th that Bitcoin's on-chain activity had spiked, leading to a more than 60% increase in transaction fees. Ethereum has also seen remarkable growth, setting new yearly highs on Friday by reaching $2,390. This latest milestone came with daily gains that surpassed Bitcoin's incremental rise. Despite Ethereum's success in price and an increase in whale dominance—with these large holders now owning 35% of the total supply—there has not been a corresponding surge in new user acquisition for the network. The rise in transaction fees for Bitcoin outpaced that of Ethereum's, which saw nearly a 50% fee growth. This fee inflation typically indicates a heightened demand for processing transactions on each blockchain, often reflecting increased investor interest and market activity. As both cryptocurrencies showcase robust performance, the market is closely watching these developments. The spike in fees particularly underscores the growing costs associated with the surging demand for blockchain space during market rallies. Investors and users are now navigating a landscape where heightened activity can lead to higher costs for transaction processing on these networks. https://www.investing.com/news/cryptocurrency-news/bitcoin-and-ethereum-fees-surge-amid-market-rally-ethereum-hits-yearly-high-93CH-3253114

2023-12-08 20:56

Copyrighted Image by: Shutterstock WASHINGTON - YieldMax has officially filed an application with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF), the MSTY ETF, with plans to debut in 2024. The proposed fund is designed to attract conservative investors by offering monthly income through a synthetic covered call strategy on MicroStrategy (NASDAQ:MSTR) derivatives, while capping monthly call option gains at 15%. The innovative approach of the MSTY ETF allows investors to benefit from market movements without the need to directly own shares of MicroStrategy. This strategy aims to provide steady returns even amid market fluctuations, as the monthly yield for investors is structured to be stable and not directly tied to MicroStrategy’s share performance. MicroStrategy has been in the spotlight due to its aggressive investment in Bitcoin. On November 30, Michael Saylor, CEO of MicroStrategy, announced the company's purchase of an additional 16,130 bitcoins at an average price of $36,785 each. With this acquisition, MicroStrategy's total bitcoin holdings have reached approximately 174,530 BTC, valued around $7.6 billion. https://www.investing.com/news/cryptocurrency-news/yieldmax-seeks-sec-approval-for-msty-etf-targeting-2024-launch-93CH-3253063