2023-11-22 16:14

The cryptocurrency Ethereum has recently seen significant signs of bullish market sentiment, with key metrics indicating increased investor interest and potential price momentum. According to data from analytics firm Santiment, Ethereum's top wallet holders have notably expanded their holdings, collectively adding over $124 billion worth of Ether to their wallets. This accumulation by large investors is accompanied by a decrease in exchange-based ETH supply, which has dropped almost 20% in the past six months. This suggests that more holders are moving their Ether off exchanges, potentially for long-term holding, reducing the available supply for trading and possibly putting upward pressure on prices. Further reinforcing the positive outlook is a report from IntoTheBlock, which highlighted an increase in active and new Ethereum addresses over the past week. This rise in engagement with the Ethereum network aligns with a spike in new Ethereum wallets, which reached 94,700 on Tuesday. This level of activity has not been seen since July when Ethereum began its price uptrend. Moreover, Ethereum recently surpassed a significant psychological threshold by breaching the $2,000 mark. Traders and investors are now closely watching to see if it can reach or exceed May's peak of $2,200. These developments reflect a growing confidence in Ethereum's market position as it continues to attract new users and investments. With multiple indicators pointing towards a bullish trend, the Ethereum community and potential investors are keeping a close watch on the market's next moves. https://www.investing.com/news/cryptocurrency-news/ethereum-wallet-growth-signals-bullish-market-sentiment-93CH-3241494

2023-11-22 15:52

Copyrighted Image by: Reuters. The EUR/USD currency pair experienced a rebound, moving above the significant level of 1.0900 after an initial drop to 1.0881 during European trading hours today. This movement came as the US dollar showed signs of weakening. Concurrently, the Dollar Index, which measures the greenback against a basket of other currencies, saw a modest rise to around 103.60, despite Treasury Yields falling from earlier highs near 104.00. Market participants are now looking ahead to several key US economic reports that may influence currency fluctuations. Initial Jobless Claims are projected to decrease to 225,000, a drop from last week's figures. Moreover, Durable Goods Orders are expected to show a decline of 3.1%, following an increase in the previous month. Additionally, the release of consumer confidence data from the University of Michigan could potentially impact Euro trading dynamics, providing fresh insights into consumer sentiment. https://www.investing.com/news/forex-news/euro-rebounds-above-109-as-us-dollar-softens-93CH-3241472

2023-11-22 15:15

Copyrighted Image by: Reuters. Recent findings suggest that F2Pool, one of the leading Bitcoin mining pools, may be selectively censoring transactions that are sanctioned by the Office of Foreign Assets Control (OFAC), despite these transactions offering competitive network fees. This behavior could signal a worrying trend toward centralization within the Bitcoin network. Investigations into F2Pool's activities reveal that on Sunday, blocks numbered 810727, 811791, 811920, and 813357 contained no OFAC-sanctioned transactions. Developer 0xB10C reported these findings after monitoring transaction selections via miningpool. observer. The evidence points to a deliberate choice by F2Pool to exclude these transactions, which contrasts with other mining pools where similar patterns were identified but later attributed to false positives. The concerns surrounding F2Pool's practices stem from the increasing regulatory pressures on cryptocurrency entities to comply with know-your-customer (KYC) and anti-money laundering (AML) guidelines. As regulatory scrutiny intensifies, some industry participants worry that the decentralized ethos of cryptocurrency is under threat if major players like mining pools begin to act as gatekeepers, deciding which transactions are included in the blockchain. Mempool. space rankings have confirmed a pattern of centralization, raising questions about the implications for the broader Bitcoin ecosystem. If such trends continue, they could potentially undermine the trustless and censorship-resistant principles that underpin Bitcoin and other cryptocurrencies. The situation with F2Pool will likely be monitored closely by both industry insiders and regulators alike, as it may set a precedent for how mining pools engage with sanctioned transactions in the future. https://www.investing.com/news/cryptocurrency-news/f2pool-accused-of-censoring-ofacsanctioned-bitcoin-transactions-93CH-3241394

2023-11-22 15:00

Copyrighted Image by: Reuters. Virtune, a company regulated by the Swedish Financial Supervisory Authority (FSA), has launched its carbon-neutral Bitcoin Exchange-Traded Product (ETP) on Boerse Stuttgart in Germany, following its success in Nordic markets. The product, known as VIRBTC, began trading on Nasdaq Stockholm and Boerse Stuttgart on Sunday, with Coinbase (NASDAQ:COIN) acting as the custodian. The introduction of VIRBTC comes amidst the crypto market's recent rise and represents Virtune's commitment to providing investors with secure and environmentally responsible investment options. By partnering with ClimatePartner to calculate the related carbon emissions, Virtune ensures that their Bitcoin ETP aligns with growing investor interest in sustainability. VIRBTC is designed to cater to both retail and institutional investors, offering educational resources and a transparent investment strategy. The ETP features an annual fee of 1.49% and trades under ISIN SE0020845709. To facilitate market liquidity for this product as well as others like the Virtune Crypto Top 10 Index ETP and Virtune Staked Ethereum ETP, Lang & Schwarz are on board. With the Swedish FSA's oversight and adherence to Nasdaq's stringent standards, Virtune AB (Publ) aims to provide seamless access to cryptocurrency investments while prioritizing financial security and environmental sustainability. https://www.investing.com/news/cryptocurrency-news/virtune-debuts-carbonneutral-bitcoin-etp-on-german-exchange-93CH-3241380

2023-11-22 14:51

Copyrighted Image by: Reuters Argentina's newly elected president, Javier Milei, is poised to shape the country's economic landscape with a shift towards cryptocurrency adoption. Following his victory over Sergio Massa, Milei, a vocal critic of the national central bank and an advocate for Bitcoin, has signaled potential crypto-friendly reforms that could see digital assets playing a significant role in Argentina’s economic strategy. Milei's anarcho-capitalist stance and his ambitious plan to tackle the nation's severe economic challenges, including hyperinflation at 143%, a 117% depreciation of the Peso against the USD, and a GDP contraction of approximately 5%, have resonated with the cryptocurrency community. His election on Sunday led to an uptick in Bitcoin's value as investors anticipated his radical economic restructuring, which may include dollarization to combat hyperinflation. However, within the crypto sphere, there is growing speculation that XRP might emerge as Argentina’s preferred digital asset over Bitcoin. This is due to XRP's ability to conduct near-instant transactions with negligible costs, starkly contrasting with Bitcoin’s slower transaction speed of fewer than seven per second and higher fees of $10.35 per transaction. Such efficiency positions XRP as a potential rival to traditional payment systems like VISA, which can handle up to 56,000 transactions per second. Supporting this shift towards XRP, Banco Galicia, one of Argentina's largest banks, has already integrated crypto services that include XRP into its offerings. This move by a major financial institution underscores the country's increasing openness to digital currencies and aligns with Milei's vision for a decentralized financial system within Argentina that could also influence global trends in cryptocurrency usage. As Milei prepares to take office, the world watches closely to see how his administration will implement these crypto-oriented policies and what impact they will have on both Argentina's economy and the broader global financial landscape. https://www.investing.com/news/cryptocurrency-news/argentinas-presidentelect-plans-to-adopt-cryptofriendly-policies-93CH-3241372

2023-11-22 14:35

Copyrighted Image by: Reuters The cryptocurrency community is buzzing with anticipation as Morgan Stanley projects the onset of a Bitcoin bull market around April 2024, coinciding with the digital currency's fourth halving event. This significant occurrence in the Bitcoin network is expected to slash miner rewards by half at block 840,000, potentially propelling prices upwards due to increased scarcity. Analysts are drawing on historical data to bolster their bullish expectations. Past halvings have led to substantial price surges, with the 2012 event seeing a remarkable 10,000% increase, followed by a 3,000% increase in 2016, and a 630% increase after the 2020 halving. However, experts caution that diminishing returns on investment growth may temper the market's response due to Bitcoin's evolving market dynamics and its maturing presence. With the countdown to the halving underway, there is a growing fear of missing out (FOMO) among investors and crypto companies. Many are eager to leverage potential post-halving gains, but this rush could lead to hasty decisions. The forthcoming reduction in miner earnings poses a particular challenge for less efficient mining operations, while companies eager for quick market entry might compromise on cybersecurity, increasing risks in the wake of speculative excitement. Despite these concerns, the growing institutional interest in Bitcoin adds weight to the positive forecasts. This interest persists even as regulatory landscapes around the world become more stringent, with Europe taking a notably strict stance. Crypto businesses are being advised to proactively adjust to these regulatory changes. Those who navigate these waters effectively could find new regulations serving as catalysts for growth rather than obstacles. As the halving approaches, it represents not only a technical adjustment but also an industry-wide test of resilience. The event will challenge entities across the sector to adapt and evolve amidst technological advancements and regulatory shifts. Strategic foresight will be key in determining which companies will thrive and shape the cryptographic society of tomorrow. https://www.investing.com/news/cryptocurrency-news/morgan-stanley-anticipates-bitcoin-bull-run-around-april-2024-halving-93CH-3241355