2023-10-24 15:03

In the Web3 ecosystem, cryptocurrencies Mina (MINA), Bluzelle (BLZ), and Conflux (CFX) have experienced significant growth. Mina's token, MINA, witnessed an 81.25% surge today. The spike in Mina's value followed the introduction of a Korean Won (KRW) trading pair on Upbit, a popular cryptocurrency exchange. This development triggered a buying frenzy among traders, leading to a substantial increase in the token's value. Meanwhile, Bluzelle, which caters to the creator economy with decentralized storage services, saw its BLZ token rise by 28.36%. This increase was primarily due to whale accumulation and heightened gaming activity in GAMMA 4. GAMMA 4 is a Crypto Sci-Fi Epic powered by Bluzelle and the Battalion Command Ambassador Program. On the other hand, Conflux's token CFX rose by 23.18% as the company announced its expansion into the United Arab Emirates (UAE). The expansion came after talks with His Highness Saud bin Saqr Al Qasimi of Ras Al Khaimah. To further its digital and virtual asset initiatives in the UAE and extend its Asian footprint, Conflux is partnering with NewTribe Capital. This move follows Conflux's previous collaboration with China Telecom (NYSE:CHA) to launch Blockchain SIM cards. These developments underline the dynamic nature of the Web3 ecosystem and indicate that various factors can influence token values. Whether it's exchange listings like in Mina's case or strategic partnerships and product enhancements like Bluzelle and Conflux, these events can trigger significant price movements in their respective tokens. https://www.investing.com/news/cryptocurrency-news/crypto-assets-mina-bluzelle-and-conflux-gain-on-diverse-catalysts-93CH-3207209

2023-10-24 11:16

Copyrighted Image by: Reuters Today, the cryptocurrency market is experiencing a significant rally, with Bitcoin leading the charge by breaking through resistance levels of $32,000 and $35,000. This surge has resulted in a year-on-year increase of 70%, outperforming traditional financial assets such as gold and major indices, according to financial analyst Crispus. Crypto companies like Riot Platforms, Marathon Digital (NASDAQ: NASDAQ:MARA), Argo Blockchain, Hut 8 Mining, and Cipher Mining have seen their stock prices soar due to this rally. Other cryptocurrencies such as Chainlink, Celer Network, Mina, Pepe, and Rocket Pool (NASDAQ:POOL) have also benefited from this upswing. In addition to individual cryptocurrencies and crypto-related stocks, the rally has also increased trading volumes on exchanges like Coinbase (NASDAQ:COIN) and Binance. It has also boosted profit margins for firms in the crypto industry. Companies such as Coinbase and MicroStrategy have seen their stock prices rise in both regular and extended trading hours. BITO and Bakkt have also experienced growth due to the increasing demand for Bitcoin. This rally comes despite earlier predictions of a bleak future for cryptocurrencies in the United States. In April 2023, Chamath Palihapitiya declared that "Crypto is dead in America," blaming regulators like the SEC for creating a hostile environment. At that time, Bitcoin was trading at $27,817.50. However, following the inclusion of BlackRock (NYSE:BLK) ETF's iShares Bitcoin Trust in the DTCC's curated list, Bitcoin surged to $34,522. As a result of this increase, a $100 investment in Bitcoin at that time would have seen a growth of 22%. This recent rally serves as a stark contrast to earlier sentiments and demonstrates the resilience of the cryptocurrency market despite regulatory challenges. https://www.investing.com/news/cryptocurrency-news/bitcoin-rally-boosts-crypto-stocks-outpaces-gold-and-major-indices-93CH-3206851

2023-10-24 10:47

Copyrighted Image by: Investing.com Bitcoin's value has seen a significant uptick, reaching a yearly high by surpassing the $30,000 mark. As of today, the cryptocurrency is trading at $34,038, reflecting an 11.46% daily increase and a 19.67% weekly gain. This surge is closely associated with the expected approval of a spot Bitcoin ETF. Crypto expert Michaël van de Poppe has predicted that Bitcoin could potentially hit the $40,000 mark if it maintains its value above $31,000. His forecast aligns with that and points towards a bearish descending triangle in the USD index, signaling a possible boost for the crypto market. Adding to the positive sentiment around Bitcoin, Eric Balchunas announced the DTCC listing of iShares Bitcoin Trust's spot Bitcoin ETF product. The product is identified by an "IBTC" ticker and a CUSIP number. This development could further bolster Bitcoin's position in the market and its current rally. The recent rise of Bitcoin's value and the anticipation surrounding the approval of a spot Bitcoin ETF indicates a growing acceptance of cryptocurrency in mainstream financial markets. It remains to be seen how these developments will influence Bitcoin's future trajectory. https://www.investing.com/news/cryptocurrency-news/bitcoin-rally-linked-to-anticipated-spot-etf-approval-reaches-yearly-high-93CH-3206799

2023-10-24 10:35

Copyrighted Image by: Reuters. Bitcoin's price surged over 12% to reach $35,000 today, sparking predictions of a forthcoming bull run ahead of the mid-2024 halving. Approximately 80% of Bitcoin holders are now in profit, a level unseen since the peak of the 2021 bull market. The past month has seen a 27% increase in BTC holdings by short-term holders, common in bullish periods. MicroStrategy, the largest corporate Bitcoin holder, has realized a 10% profit on its $4 billion Bitcoin holdings as BTC crossed $30,000. Yesterday, Bitcoin hit a multi-month peak of over $31K which influenced altcoins like SOL to reach $30 for the first time in months and LINK and MATIC to skyrocket by double digits. Despite the bullish trend, the Fantom Foundation suffered a hot wallet hack causing a loss of $550K; however, 99% of the foundation’s funds remain safe. The market added $100B within a week. Last week, Bitcoin crossed $31K, triggering a ripple effect across the cryptocurrency market as numerous altcoins achieved substantial highs. Binance halted new UK user sign-ups from October 16 due to legal requirements imposed by the FCA on partner REBS. Tether seized $873K in USDT from 32 addresses linked to warfare and terrorist activities in Ukraine and Israel. Despite these gains, negative incidents like Fantom's $550K hack also took place. Other notable developments included the EU's implementation of new crypto tax data sharing rules and PlatoData.Network offering AI and CleanTech services. https://www.investing.com/news/cryptocurrency-news/bitcoin-surges-altcoins-follow-suit-amid-mixed-market-events-93CH-3206787

2023-10-24 10:32

Bitcoin has experienced a significant rally, breaking past the $35,000 mark and marking a 10.3% growth within 24 hours, according to data from CoinGecko. Ethereum followed closely with a 7.2% gain, reaching a value of $1,807. Other cryptocurrencies such as BNB, XRP, and Solana also contributed to the market's robust performance this week. BNB stood at $227 while XRP surpassed the $0.55 level. Solana recorded an impressive 29.5% surge over the week. CoinShares reported that institutional crypto products from companies like Grayscale, 21shares, and Proshares have seen four weeks of uninterrupted growth by tracking cryptocurrency values. Last week's investments totaled $66 million, with Bitcoin dominating at 83.7%, which translates to $55.3 million. Market liquidations were significant as per CoinGlass data, with $402.01 million liquidated in a single day. This affected a vast count of 94,693 traders with the largest single liquidation order being a $9.98 million transaction on the Binance BTCUSDT pair. https://www.investing.com/news/cryptocurrency-news/bitcoin-surges-past-35000-with-ethereum-following-closely-93CH-3206757

2023-10-24 10:12

Copyrighted Image by: Reuters. Jonathan Farnell, the former UK chief of Binance and CEO of its payment subsidiary Bifinity, has stepped down from his role. His resignation comes amidst regulatory disputes in the US and UK and a wave of high-profile departures from the cryptocurrency exchange giant, Binance. Farnell's resignation follows a series of exits from Binance including Gleb Kostarev, Vladimir Smerkis, Leon Foong, Patrick Hillman, and Han Ng. In response to these departures, Ilir Laro has been appointed as a director of the UK entity. The stricter crypto advertising regulations from the UK's Financial Conduct Authority (FCA) led to a halt in new customer registrations at Binance. Despite this halt, existing customers can continue using Binance after completing an investor declaration and appropriateness test while the firm seeks an FCA-authorized partner for financial promotions. Farnell, who joined Binance from eToro in 2021, played a pivotal role in efforts for Binance's regulatory compliance in the UK. He led Bifinity in a transaction to acquire Eqonex, Digivault’s parent company, with the aim of securing UK registration for Binance. This effort was however impeded by FCA intervention due to concerns about Binance Markets Limited, the company's UK arm. Meanwhile, Bybit, a rival to Binance, suspended its services in the UK following the introduction of the FCA's new rules. The developments at Binance and Bybit highlight the growing scrutiny and regulatory pressures faced by cryptocurrency exchanges in the UK market. https://www.investing.com/news/cryptocurrency-news/bifinity-ceo-steps-down-amid-regulatory-disputes-and-executive-exodus-at-binance-93CH-3206702