Has Russia Truly Made Cryptocurrency Mining Legal?
Russian President Vladimir Putin recently signed new laws to regulate cryptocurrency mining in Russia. These laws create a framework for mining operations, yet experts warn they don’t fully “legalize” the industry. Instead, the legislation sets controls and restrictions. The first law, signed in August, defined terms like mining and mining pools and imposed requirements on […]
What’s Causing Today’s Drop in the Crypto Market?
Today, the cryptocurrency market saw a decline, with total market capitalization slipping by 1.33% to $2.3 trillion as of Nov. 1. Leading crypto asset Bitcoin dropped 4.3%, reaching around $69,193, while Ether, the second-largest cryptocurrency, fell 5.4%, trading near $2,495 at the time of writing. Let’s break down the primary drivers behind today’s downward trend. […]
Bitcoin Traders Move $4B to Exchanges Amid BTC Price Drop Below $70K
As Bitcoin’s price dipped below $70,000, many short-term holders (STHs) sold off their holdings, causing a stir in the market. New data from on-chain analytics platform Glassnode shows that on October 31 alone, STHs sold a massive 54,000 BTC, marking the largest sell-off since April. The recent price reversal near all-time highs left opportunistic traders […]
MicroStrategy Stock Dips as Q3 Earnings Slightly Miss Expectations
MicroStrategy’s stock fell approximately 5.9% following the release of its third-quarter earnings, which came in slightly below analysts’ expectations. An analyst has indicated that the company may face further challenges as the U.S. elections approach. In an announcement on October 30, MicroStrategy reported that its software division generated $116.1 million in revenue for the quarter, […]
Bitcoin ETF Nears $1B in Daily Inflows, Sparking FOMO and Risk of New BTC Price Peak
Institutional interest in U.S. spot Bitcoin exchange-traded funds (ETFs) has surged, with inflows reaching hundreds of millions of dollars daily. Data from Oct. 30, provided by UK investment firm Farside Investors, recorded nearly $900 million in ETF inflows that day alone, marking the second-highest on record. Yet, for seasoned market observers, this influx has raised […]
Canary Capital Files Application for Spot Solana ETF
Asset manager Canary Capital has submitted an application for a spot Solana ETF in the United States, joining the growing list of firms seeking to bring Solana-based ETFs to market. This filing follows a similar application made by investment firm VanEck four months prior. The news was shared moments ago by Bloomberg’s ETF expert James […]
RWA Market Projected to Hit $600B in Five Years: BCG Report
Real-world asset (RWA) tokenization is anticipated to experience substantial growth over the coming five years, with assets under management potentially exceeding $600 billion by 2030, according to recent reports from major traditional financial institutions. Boston Consulting Group (BCG), in a report released on Oct. 29, described RWA tokenization as “the third revolution in asset management.” […]
FOMO in Action: BlackRock Bitcoin ETF Sees Record Trading Surge in Six Months
Daily trading volume for BlackRock’s Bitcoin ETF (IBIT) hit $3.35 billion on Oct. 29, marking its largest trading day in over six months. This surge is reportedly driven by a rush of “panic buying” as Bitcoin hovers near its all-time high at $72,390, only 2% shy of setting a new record. “FOMO confirmed,” remarked Bloomberg […]
BTC Could Hit $200K Without a US Dollar Collapse, Says Bitwise Exec
Increased investment in “store-of-value” assets and the ongoing decline in fiat currency value could drive Bitcoin’s price into six figures without requiring a crash of the US dollar, according to Matt Hougan, Bitwise’s chief investment officer. On Oct. 29, Hougan responded on social media platform X to a financial adviser’s question about whether Bitcoin could […]
Coinbase CEO Urges Next SEC Chair to Address ‘Harm’ Caused by Current Policies
Coinbase CEO Brian Armstrong believes that the next SEC chair should apologize to the public for the impact of the agency’s inconsistent crypto regulations. On Oct. 29, Armstrong shared a list of the SEC’s conflicting statements on digital assets, including confusion over whether Bitcoin and other cryptocurrencies are securities and if the agency has the […]