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Tag: crypto

  • Down Big: Crypto Scamming Numbers Reduced In 2023 – Report

    Down Big: Crypto Scamming Numbers Reduced In 2023 – Report

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    2023 started with a challenging overall landscape for the crypto market that continued throughout the rest of the year. However, the market saw a recovery with a spike in bullish sentiment and ended the year on a positive note.

    Additionally, 2023 saw a decline in crypto scamming and crypto-related illicit activity compared to the previous year, as new data shows.

    Illicit Activity Market Revenue Decline In 2023

    American blockchain analysis firm Chainalysis released its 2024 Crypto Crime Report detailing the trends and figures that crypto-related illicit activities saw in 2023. The firm’s data shows a significant drop in value received in cryptocurrency addresses used for illicit activities, totaling $24.2 billion.

    This is a considerable reduction compared to the 2022 updated estimate of $39.6 billion. In addition, the share of all crypto transaction volume associated with illicit activity reduced from 0.42% in 2022 to 0.34% in 2023.

    According to the report, there seems to be a shift in the type of assets involved in crypto-related crime activities over the last two years, with Bitcoin no longer being the most used asset for most illicit transactions.

    Alternately, stablecoins have become a more popular choice for crypto assets involved in illicit activities, as the report states. This increase could be attributed to the recent general growth of stablecoins’ share of all crypto activity overall.

    The shift to stablecoins is not seen in every related crime, with activities, such as darknet market sales and ransomware extortion, still taking place predominately in Bitcoin.

    Nonetheless, it’s worth noting that their issuers can trace stablecoins, and funds can be frozen when addresses are linked to illicit activities, as Tether did back in 2023.

    Illicit transaction volume by asset type, 2018-2023. Source: Chainalysis

    Trends That Defined Crypto-Related Crime In 2023

    Chainalysis on-chain metrics suggest that scamming revenues have been trending globally since 2021. Although these crimes are still underreported, “overall, scamming is down, given broader market dynamics.”

    Romance scams, such as ‘pig butchering,’ are among the most popular crypto scamming tactics used by scammers and are one of the biggest forms of related crime by transaction volume.

    Regarding crypto hacking, the firm believes that “the decline in stolen funds is driven largely by a sharp dropoff in DeFi hacking,” it could represent “the reversal of a disturbing, long-term trend.” In 2023, crypto scamming and hacking revenue fell significantly, with the total revenue decreasing 29.2% and 54.3%, respectively.

    In contrast to the overall trends, ransomware and darknet markets, two of the most prominent forms of related crime, saw revenues rise in 2023. Similarly, 2023’s growth in darknet market revenue comes after a 2022 decline in revenue.

    The report shows that transactions with sanctioned-related entities and jurisdictions drive most of the illicit activity as entities and jurisdictions move towards using stablecoins and other crypto assets to bypass restrictions.

    They accounted for a combined $14.9 billion transaction volume in 2023, representing 61.5% of all illicit transactions over the year. Chainalysis explains that:

    Most of this total is driven by cryptocurrency services that were sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), or are located in sanctioned jurisdictions, and can continue to operate because they’re in jurisdictions where U.S. sanctions are not enforced.

    Ultimately, the report addresses that not all sanction-related transactions are due to the illicit use of digital assets, as some of that $14.9 billion volume is related to the average users who reside in the sanctioned jurisdictions.

    BTCUSDT, Crypto

    Bitcoin trading at $41,906.6 on the hourly chart. Source BTCUSDT on TradingView.com

    Featured image from Unsplash.com, Chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Rubmar Garcia

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  • Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin

    Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin

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    Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token. As part of his insights, the analyst hinted that the crypto token could outperform Bitcoin soon enough. 

    Injective To Breakout Against Bitcoin

    In an X (formerly Twitter) post, The Crypto Dog shared an INJ/BTC chart while hinting that an “incredibly bullish structure” was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a massive move against Bitcoin. 

    However, he didn’t provide details as to when this move could occur and what price levels INJ will hit once this impending breakout happens. Just like Solana’s SOL, INJ was another standout crypto token in 2023, as it rose to almost $40, enjoying a gain of about 3,000% in the process. This was more commendable, considering that it happened in an ongoing bear market.

    Interestingly, INJ’s run continued into the new year, with the crypto token hitting its current all-time high (ATH) of $45 on January 9. One of the narratives that is believed to have brought INJ this far is the one around artificial intelligence (AI) tokens, with AI projected to be one of the leading themes in the next bull run. 

    Injective, a layer-1 blockchain, also prides itself as the first blockchain to offer auto-executing smart contracts and happens to be one of the fastest blockchains out there. With such features, there is no doubt that the demand for the INJ token could continue to be on the rise as Injective’s utility increases. 

    INJ begins another recovery trend | Source: INJUSD on Tradingview.com

    Other Narratives That Could Lead To INJ’s Rise

    The Injective blockchain happens to be interoperable with Ethereum through its cross-chain infrastructure. This could be significant especially as Ethereum continues to see its dominance surge. Once ETH begins to run, INJ could be one of the biggest benefactors since some of the liquidity in the Ethereum ecosystem could easily flow into Injective.

    Injective’s distinct burn mechanism is another feature that could be a big plus for INJ’s price. The network is known to carry out a weekly on-chain buy-back-and-burn auction where 60% of fees generated on its protocols are auctioned, with users only being able to bid in INJ. The INJ tokens made from these auctions are then burned and removed from circulation. 

    These weekly burns are expected to be effective, considering that the token has a maximum supply of only 100 million. So far, close to 6 million of this supply have been burned. Meanwhile, at the moment, there are only just 83.7 million INJ tokens in circulation. 

    At the time of writing, INJ is trading at around $38, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

    Featured image from Coinpedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Will X Unleash The Doge? Users Eager To Embrace The Memecoin

    Will X Unleash The Doge? Users Eager To Embrace The Memecoin

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    DOGE (Dogecoin), the cryptocurrency propelled by internet memes, is gaining attention on Elon Musk’s X (formerly Twitter), as evidenced by a survey conducted by a leading Doge account.

    The community’s interest in integrating Dogecoin (DOGE) into the platform for payments and tips is apparent, reflecting a desire to move away from traditional fiat currencies.

    Related Reading: Shibarium Shatters Records: 2 Million Transactions In A Day – Details

    Doge In X: Regulatory Challenges

    Elon Musk has been a vocal supporter of Dogecoin, praising its transaction speed and suitability in comparison to Bitcoin. Although there is no official confirmation, speculation is mounting following X’s acquisition of money transfer licenses across various US states.

    Musk envisions transforming X into an “everything app” with a robust commerce engine, and Dogecoin could play a significant role in this vision.

    However, obstacles exist before the potential integration of Dogecoin into the platform. Regulatory approvals for the acquired money transfer licenses are anticipated by mid-2024, posing a potential challenge to Musk’s ambitious timeline.

    Additionally, technical details and integration methods for DOGE payments remain undisclosed.

    At the time of writing, DOGE was trading at $$0.0802 down 1.2% and 4.4% in the last 24 hours and seven days, data from Coingecko shows.

    Despite these uncertainties, the Doge community is actively preparing. Large transactions involving millions of DOGE tokens suggest anticipation for a potential surge in demand. The enthusiasm within the X community, evident in tweets and discussions, is noteworthy.

    Just this week, almost a billion DOGE changed hands. An unidentified buyer removed 67,903,623 Dogecoin from the popular brokerage platform Robinhood during the last 24 hours, according to the blockchain sleuth at Whale Alert.

    The identical source had earlier this week reported a substantially larger quantity of these meme currencies transferred—990,000,000 DOGE, which was valued $79,757,842 when the transaction was made.

    The possibility of Dogecoin payments on X has the potential to bring about significant changes, not only for X but also for the broader online payment landscape.

    Dogecoin currently trading at $0.0804679 on the daily chart: TradingView.com

    Doge Challenges: Volatility, Community Transition

    Envisioning the ability to tip content creators or settle bills with digital shiba inu coins adds an element of fun and community to online transactions, challenging the dominance of traditional payment providers.

    However, challenges extend beyond regulatory approval. The inherent volatility of cryptocurrency markets, exemplified by Doge’s recent price dip, raises concerns. Integrating a meme-based currency into a major platform entails navigating potential financial risks and bubbles cautiously.

    The future remains uncertain regarding Doge becoming the official currency of X’s “everything app” ecosystem. One undeniable fact is the readiness of the Doge community to transition away from fiat, envisioning a future where digital shiba inu smiles replace conventional currencies.

    The extent to which this revolution translates into widespread adoption and lasting impact is yet to be seen. Regardless, the Dogecoin narrative is evolving, promising an intriguing journey shaped by memes, speculation, and the unpredictable nature of Musk.

    Featured image from Freepik

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Regulatory Victory: Gemini Receives Digital Asset Service Provider Registration In France

    Regulatory Victory: Gemini Receives Digital Asset Service Provider Registration In France

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    Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has been granted crypto registration by the French markets watchdog Autorite des marches financiers (AMF). 

    According to a recent announcement made by the exchange, this approval allows Gemini to offer its services as a virtual asset services provider in France. The company plans to roll out its products to both retail and institutional clients in the coming weeks.

    Gemini Seizes Growth Opportunities In Europe

    As announced, Gemini customers in France will gain access to a wide range of cryptocurrencies for trading, as well as “advanced” trading platforms such as ActiveTrader. Institutional clients will also benefit from Gemini eOTC, an electronic over-the-counter trading solution.

    Gemini’s regulatory approval in France marks a milestone in the company’s European expansion strategy. According to the exchange’s statement, with a strong sense of regulatory support for the cryptocurrency industry in Europe, Gemini sees growth opportunities in the French jurisdiction. 

    The founders of Gemini recognized the need for regulatory clarity, which is on the horizon with the European Union (EU) Markets in Crypto-Assets Regulation (MiCA). MiCA allows crypto companies to obtain licenses in one EU country and operate across the entire EU. 

    Interestingly, Gemini chose Ireland as its European headquarters, joining other major US crypto companies that have selected Ireland as their regulatory hub. On this matter, Gillian Lynch, Gemini’s Head of Ireland and EU stated:

    We are delighted to welcome customers based in France onto the Gemini platform in the coming weeks as we further expand access to crypto across Europe. France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance as we continue on our mission to unlock the next era of financial, creative, and personal freedom

    US Crypto Companies Seek Regulatory Haven In Europe

    According to a CNBC report, major US crypto companies are increasingly looking to expand their operations in Europe driven by regulatory challenges in the United States. 

    The crypto industry has faced scrutiny from US regulators, including the Securities and Exchange Commission (SEC). Gemini and Genesis, a crypto lender, were charged by the SEC last year for allegedly selling unregistered securities. Gemini is contesting the lawsuit, asserting that its interest-bearing products do not qualify as securities. 

    Per the report, the European Union offers a “more favorable” regulatory environment, and the MiCA regulation provides a framework for companies to operate across EU member states.

    While the US has yet to approve comprehensive federal-level crypto regulation, recent developments indicate a growing acceptance of cryptocurrency trade. The SEC’s approval of the first-ever spot Bitcoin exchange-traded funds (ETFs) is seen as a significant step toward integrating crypto into traditional finance. 

    Despite initial concerns about market manipulation, the approval of Bitcoin ETFs by the SEC is a positive development for the industry. At the same time, several bills related to crypto regulation are making their way through the US House of Representatives. 

    The 1-day chart shows the total crypto market cap’s valuation at $1.6 trillion. Source: TOTAL on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • XRP Sale Controversy: Ripple Faces Heated Legal Debate Amid Market Turbulence

    XRP Sale Controversy: Ripple Faces Heated Legal Debate Amid Market Turbulence

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    The crypto community is currently embroiled in a debate over the right for Ripple to sell XRP tokens, sparked by a recent exchange between XRP advocate Bill Morgan and a crypto analyst known as “Darkhorse” on social media platform X.

    This discussion delves into the legal complexities and market implications of Ripple’s actions concerning XRP sales.

    Legal Debate: Ripple’s Rights To Sell XRP

    Bill Morgan, a staunch defender of XRP, argued that Ripple has no legal constraints on “selling its XRP tokens except in the context of institutional sales.”

    This assertion was in response to a crypto analyst, Darkhorse’s reference to a ruling by Judge Analisa Torres in July 2023, which, according to the analyst, did not permit Ripple to sell XRP.

    Morgan maintained that Ripple is legally allowed to sell its XRP holdings, clarifying that the company’s sales should not be viewed as investment contracts under the United States Securities law.

    Morgan further noted that nothing is “stopping Ripple from selling its XRP.” “The issue is whether in the US it needs to register its sales and offers of XRP with the [Securities and Exchange Commission] SEC.”

    After Judge Torres ‘ decision, another user on X highlighted a significant point regarding Ripple’s XRP sales. Based on the judge’s reasoning, these sales might “now be considered securities transactions.”

    This change in classification, the user explained, is because Ripple’s involvement with XRP is now publicly acknowledged, which could lead to expectations of value increase due to the payment company’s activities.

    Previously, such sales weren’t classified as securities transactions due to a “lack of evidence” that retail buyers knew about Ripple’s role with XRP. However, this has changed post-Judge Torres’ decision, making Ripple’s involvement a publicly recognized fact.

    Responding to this, Morgan suggested that despite this public awareness, the past five years’ performance of XRP’s price indicates that expecting profits from Ripple’s efforts might not be “reasonable.” The XRP advocate further implied that those who bought XRP after the July 13th decision with such expectations might be “irrational or need help.”

    Ripple XRP Sale And Market Impact

    Notably, the debate comes on the heels of Ripple’s recent transfer of 80 million XRP tokens, valued at approximately $46.18 million, to an undisclosed wallet. This transaction, reported by blockchain tracking service Whale Alert, has ignited speculation in the XRP community.

    Amid these developments, XRP’s market performance has seen fluctuations. The asset experienced a 1.5% decline in the past 24 hours, dropping its price to $0.566. However, over the past week, XRP has shown resilience, recording a 2.6% increase. The trading volume for XRP also saw a dip, falling from over $1 billion last Wednesday to $827 million in the last 24 hours.

    XRP price is moving sideways on the 1-hour chart. Source: BTC/USDT on TradingView.com

    Featured image from Unsplash, Chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Samuel Edyme

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  • Grayscale Transfers Almost 12,000 BTC To Coinbase, Bitcoin Price Reacts

    Grayscale Transfers Almost 12,000 BTC To Coinbase, Bitcoin Price Reacts

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    In a significant development that could potentially impact the Bitcoin price, Arkham Intelligence data reveals that Grayscale, the manager and owner of the Grayscale Bitcoin Trust (GBTC), has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12.

    Grayscale Bitcoin Trust Initiates Substantial BTC Outflow

    According to the data, four days ago, Grayscale initiated the first batch of BTC outflows from their holdings to the US-based exchange in four separate batches, totaling 4,000 BTC, which amounted to approximately $183 million. However, the asset manager resumed outflows from the Trust to the exchange on Tuesday.

    A portion of Grayscale’s transfers to Coinbase. Source: Arkham

    In a recent update, approximately three hours ago, the asset manager sent an additional 11,700 BTC to Coinbase, amounting to $491.4 million. This additional selling pressure could push the Bitcoin price to test lower support levels.

    Furthermore, Bloomberg reports that investors have withdrawn over half a billion dollars from the Grayscale Bitcoin Trust during the initial days of trading as an ETF. 

    According to Bloomberg’s data, outflows from the Grayscale Bitcoin Trust reached approximately $579 million, while the other nine spot Bitcoin ETFs witnessed inflows totaling nearly $819 million.

    Investors Shift Capital To ‘Lower-Cost’ Spot Bitcoin ETFs

    James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that investors may be profit-taking following the ETF conversion. The flow data provides valuable insights into the ETF’s performance following SEC approval. 

    Although over $2.3 billion of GBTC shares were traded on its first day, the outflows indicate that a portion of that volume was due to selling. Seyffart anticipates that a significant amount of capital will enter other Bitcoin exposures.

    The outflows from Grayscale’s ETF were somewhat expected. Bloomberg Intelligence had previously projected that the fund would experience outflows of over $1 billion in the coming weeks. 

    Some of this outflow can be attributed to investors shifting towards more cost-effective spot Bitcoin ETFs. With an expense ratio of 1.5%, GBTC is the most expensive US ETF directly investing in Bitcoin. In contrast, the VanEck Bitcoin Trust, the second-most expensive fund, charges 0.25%.

    On the other hand, other spot Bitcoin ETFs have witnessed net inflows. BlackRock’s IBIT attracted nearly $500 million in the first two days of trading, while Fidelity’s FBTC received approximately $421 million. 

    According to Bloomberg, these inflows suggest strong demand for Bitcoin exposure in physically backed ETFs, even beyond potential seed funding from the fund issuers.

    Bitcoin Price Finds Support At $42,000

    Currently, the Bitcoin price remains unaffected by the news of Grayscale’s transfers to Coinbase. The leading cryptocurrency is trading at $43,100, showing a slight increase of 0.8% over the past 24 hours.

    However, since the commencement of ETF trading, it is important to note that the Bitcoin price has experienced a significant retracement, declining by 8%. This decline can be attributed to profit-taking and selling pressure, with Grayscale’s involvement being noteworthy.

    In the event of a further drop in the Bitcoin price, a significant support level has been established at $42,000. If this level is breached, the next key level for Bitcoin bulls to watch is $41,350, followed by a potential dip below $40,000.

    The market is eagerly observing whether Grayscale and its BTC selloff will continue and how this will impact the Bitcoin price leading up to the scheduled halving event in April, which many consider to be the main catalyst for the year.

    Bitcoin price
    The daily chart shows BTC’s valuation at $43,100. Source: BTCUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Anticipation Peaks As Bitcoin Halving Countdown Drops Below 100 Days: Will Prices Skyrocket?

    Anticipation Peaks As Bitcoin Halving Countdown Drops Below 100 Days: Will Prices Skyrocket?

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    With the Bitcoin halving event drawing near, Data from crypto industry research and analytics platform, CryptoRank.io, has recently revealed that a significant majority of its users – 79% – are bullish about the upcoming halving, while 21% have bearish skepticism.

    This sentiment echoes the historical trend where previous halvings have catalyzed bullish rallies in Bitcoin’s price.

    Bitcoin Halving Countdown And Price Trajectory

    The Bitcoin halving, less than 100 days away, is a pivotal event in the crypto world. This process happens approximately every four years, and the reward for mining Bitcoin blocks will be halved.

    This reduction in supply has historically led to price increases, with the previous halving in 2020 resulting in a 401.1% rise in Bitcoin’s price, according to CryptoRank.io. The anticipation of a similar price boom is palpable as the crypto community closely watches the countdown to this significant event.

    Despite the optimistic sentiment towards the halving, Bitcoin’s recent price action tells a different story. Following the initial excitement around the launch of spot Bitcoin ETFs, Bitcoin has been experiencing bearish price action.

    In the past week alone, the cryptocurrency has seen a nearly 10% decline, eroding its gains after spot ETF approvals. This price behavior suggests a cooling off of the spot ETF hype and a period of consolidation in the absence of significant news or developments.

    However, Bitcoin is currently hovering above the $43,000 mark, showing a minor recovery in the last 24 hours with a 1.8% increase.

    BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

    BTC Price Prediction

    This current price movement has not dampened the long-term bullish outlook of many analysts. Figures like Ash Crypto, a notable voice in the crypto trading community, advise a long-term perspective.

    Ash Crypto’s has recently shared an analysis drawing parallels between Bitcoin and gold, suggesting that if Bitcoin emulates gold’s post-ETF market cap surge, it could potentially reach or even surpass half of gold’s market cap. Such a scenario could propel Bitcoin’s price to an estimated $500,000 in the coming years.

    Moreover, Ash Crypto highlights Bitcoin’s potential impact on traditional financial markets, pointing out the immense global stock and bond market caps.

    As BTC continues to gain legitimacy as a financial asset, it could capture a substantial share of these traditional market caps. This shift aligns with a new generation of investors who view Bitcoin as a novel investment opportunity.

    Featured image from Unsplash, Chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Samuel Edyme

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  • Stablecoin Takeover? Record Tether 71% Dominance Raises Questions About Crypto Future

    Stablecoin Takeover? Record Tether 71% Dominance Raises Questions About Crypto Future

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    Tether, the issuer of the ubiquitous USDT stablecoin, cemented its dominance in 2023, ballooning its market share to a staggering 71%. This explosive growth, however, comes with a chilling undercurrent: a United Nations report linking USDT to a surge in cybercrime and money laundering in Southeast Asia.

    Glassnode data paints a stark picture of Tether’s ascent. Its market capitalization reached a record $95 billion in January 2024, fueled by a 40% increase in USDT supply over the past year. Meanwhile, competitors like Circle’s USDC saw their market share shrink, with USDT now commanding over 7 times the circulation of its nearest rival.

    Tether Market Dominance Soars 

    USDT dominance shown in green. Source: Glassnode

    Paolo Ardoino, Tether’s new CEO, has prioritized cooperation with U.S. law enforcement. The company boasts of freezing wallets linked to sanctions lists and recovering over $435 million in illicit funds.

    However, the UN report casts a shadow on these efforts, detailing how USDT facilitates “sextortion,” “pig butchering” scams, and underground banking across Asia.

    While Tether has proactively banned over 1,260 addresses linked to criminal activity, the sheer volume of illicit transactions raises concerns about the effectiveness of these measures.

    USDT market cap currently at $94.904 billion. Chart: TradingView.com

    Critics point to Tether’s opaque reserve backing as a breeding ground for misuse, calling for greater transparency to combat money laundering.

    Tether’s Reign At Risk: Regulatory Challenges

    The stablecoin market, once touted as a bridge between traditional finance and the crypto world, now faces a reckoning. Tether’s dominance is undeniable, but its association with criminal activity threatens to erode trust and trigger stricter regulations.

    Tether total assets nearing the $95 billion level. Source: Gabor Gurbacs X post.

    Meanwhile, Circle’s recent IPO filing hints at a potential shift in the landscape. With regulatory scrutiny intensifying, Tether’s future hinges on its ability to address concerns about transparency and combat illicit activity.

    Can it clean up its act and maintain its crown, or will the tide turn towards its more transparent rivals? Only time will tell if Tether’s reign as the king of stablecoins will weather the storm of controversy.

    With its historic 71% market share, Tether’s reign over the stablecoin realm is undeniable. Yet, the shadow of illicit activity threatens to eclipse its success.

    As regulators sharpen their focus and competitors like Circle step into the ring, the question looms: will Tether clean house and retain its crown, or will this be the tipping point for a stablecoin revolution, reshaping the future of crypto itself?

    Only time will tell if Tether’s dominance signals a bright new era for digital currencies or serves as a cautionary tale, paving the way for a more transparent and accountable crypto landscape. The gloves are off, and the fight for the future of stablecoins is just beginning.

    Featured image from Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Crypto Analyst Says A Solana Price Will Climb To $750, Here's When

    Crypto Analyst Says A Solana Price Will Climb To $750, Here's When

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    Crypto YouTuber Jake Gagain has shared his “insane price prediction” for Solana (SOL) as he said that the crypto token will climb to $750. The crypto analyst didn’t stop there as he also provided a timeframe for when this price level would be attained. 

    Solana Price To Rise To $750 In 2025

    Gagain said that he expects Solana to hit this price level by 2025 in an X (formerly Twitter) post. In the accompanying video, he outlined several reasons for this bullish sentiment. For the first, he alluded to the fact that the Solana network happens to be “quicker, safer, and much more affordable” than Ethereum. 

    According to him, more users from Ethereum and other networks are likely to migrate to the Solana network as more projects get built on it. This is based on his expectation that Solana will be the “top competitor” for Ethereum in the next bull run. Gagain further asserted that SOL will end up becoming the third largest token by market cap, only behind Bitcoin and Ethereum.

    The second reason why the analyst is bullish on SOL is because of how it has impressively recovered from the FTX scandal. Solana was at the heart of it as the crypto exchange’s founder, Sam Bankman-Fried (SBF), was one of the token’s biggest backers. SOL dropped below $10 as a result of this while being in the middle of a bear market. 

    However, it has recovered nicely since then, climbing above $100 towards the end of last year. That is why Gagain believes that the crypto token could go as far as hitting its all-time high of $260 and surpassing it. 

    SOL price drops to $95 | Source: SOLUSD on Tradingview.com

    SOL Is Also Making Its Way Into The Traditional Market

    Jake Gagain also highlighted the fact that Solana was making its way into the traditional market as another reason he was so bullish on SOL. Solana’s entry into the traditional market is said to be happening through its partnerships with notable brands. One of them, which the crypto analyst mentioned, was its partnership with Shopify. 

    Back when the partnership was confirmed, NewsBTC highlighted how it could help onboard more users into crypto and specifically into the Solana ecosystem. The network was projected to see more activity, considering the number of users Shopify already has. 

    Interestingly, the number of transactions Solana records daily is another reason why Gagain is most bullish on SOL. Network activity is known to be another factor that can affect a token’s price. 

    At the time of writing, SOL is trading at around $95, down over 2% in the last 24 hours, according to data from CoinMarketCap.

    Featured image from Analytics Insight, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst

    Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst

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    The CEO of Jan3 and Bitcoiner, Samson Mow, has once again reiterated his ultra-bullish prediction for Bitcoin. The Bitcoin advocate noted that the ‘Max Pain Theory’ was still in play, and this is one of the reasons why he isn’t backing down from his assertion that Bitcoin will hit this price level sooner rather than later. 

    Bitcoin’s Rise To $1 Million To Happen “In Days To Weeks”

    Samson Mow stated in an X (formerly Twitter) post that his “main prediction” is that Bitcoin’s run to $1 million will happen in “days to weeks.” However, he further claimed that the starting point for this meteoric rise has yet to be decided. 

    The analyst’s bullish prediction for Bitcoin stems from his belief in the max pain theory, which relates to a Bitcoin price that could cause most options traders to experience maximum loss. In Mow’s opinion, Bitcoin bulls have experienced this loss following the approval of the Spot Bitcoin ETFs, and the bears could experience “some pain soon.”

    Right before the approval order came in, Mow had predicted that Bitcoin was going to surge to $1 million in “days to weeks” and that most people were going to experience “max pain.” These ETFs also form part of the basis for why he believes that Bitcoin will hit this price level soon enough, as Mow foresees a huge demand for btc following this.

    Mow says that the Bitcoin market is getting to a point where the existing supply will not meet current demand. He also alluded to the upcoming Bitcoin Halving, hinting that it could be one of the catalysts that will spark this parabolic rise in Bitcoin’s price. Interestingly, he had before now mentioned that Bitcoin will hit a new all-time high (ATH) before the Halving event takes place. 

    BTC bulls struggle to reclaim control | Source: BTCUSD on Tradingview.com

    A Market Adjustment Is Currently Ongoing

    Mow also gave his opinion on the reason for Bitcoin’s recent decline as he noted that the market was simply adjusting. He further explained that GBTC holders were currently rotating out, which was pushing Bitcoin’s price down. He also alluded to how MicroStrategy’s stock was “trading below BTC par value.”

    Therefore, the crypto community needs to be patient as “time is needed for everything to recalibrate,” Mow says. It shouldn’t be long for that to happen, though, as the crypto analyst claimed that the GBTC sell pressure “won’t be a long drawn out process.” 

    He believes that many of GBTC’s investors won’t be able to offload their stocks because the “tax hit is too big” and that Grayscale will eventually capitulate on its fees. The asset manager currently has the largest fee among all Spot Bitcoin ETF issuers, and this is believed to be the reason why its investors are offloading their shares and rotating to other funds. 

    Featured image from Bitcoin News, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Chainlink Rises 17% – Is LINK On Course To Hit $20 This Week?

    Chainlink Rises 17% – Is LINK On Course To Hit $20 This Week?

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    Traders in the crypto realm are watching Chainlink (LINK) with bated breath as the price coils up near the $16 mark, hinting at a possible break out towards $17, or even $20 given the right conditions this week.

    Since November, LINK has been consolidating between $13.00 and $17.00, exhibiting classic market cycle behavior that presents prime opportunities for savvy traders.

    Technical analysts are buzzing with potential bullish scenarios, with many pointing to the current price action as the telltale sign of an “accumulation phase.” As per the renowned Wyckoff method, this phase sees sellers exiting, prices stabilizing, and indecision ruling the market.

    Will Chainlink Hit The Vaunted $20 Mark?

    Following accumulation comes the much-anticipated “markup phase,” characterized by surging buying pressure, rapid price increases, and heightened activity.

    And that’s precisely what the charts seem to be foreshadowing for LINK. Indicators like the Awesome Oscillator and MACD are flashing green and pushing towards bullish territory, suggesting growing confidence and impending upward momentum.

    Chainlink currently trading at $15.57682 on the daily chart: TradingView.com

    The Relative Strength Index (RSI) also leans north, potentially primed to cross its signal line and add fuel to the bullish fire.

    Further bolstering the optimistic outlook are the Simple Moving Averages (SMAs). Both the 100- and 200-day SMAs are pointing north, with the latter currently nestled comfortably at $9.994. This upward trajectory indicates the path of least resistance lies in ascending territory for LINK.

    Source: TradingView

    Should buying pressure build steam above current levels, analysts predict a potential leapfrog over the 50-day SMA at $16.95, paving the way for a psychological $17 price point. In a highly bullish scenario, LINK could even tap into its full $20 potential, marking a 20% surge from its current position.

    LINK price up nearly 17% in the weekly timeframe. Source: Coingecko

    17% Rally Ignites More Optimism For LINK

    But a fresh spark ignites the conversation – Chainlink just surged 17% today, propelling it closer to the long-held $17 barrier. Could this recent rally be the catalyst that sends LINK rocketing past its immediate target and into uncharted territory?

    It’s still too early to definitively say. While the technical indicators remain encouraging, external factors and market sentiment can shift rapidly. However, one thing is certain: Chainlink’s latest surge adds another layer of intrigue to its already captivating price action.

    Whether it coils upward for a glorious breakout or succumbs to profit-taking, the next few days promise to be a thrilling ride for LINK holders and a fascinating case study for technical analysis enthusiasts alike.

    Featured image from iStock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • How To Buy And Trade Tokens On The SEI Network

    How To Buy And Trade Tokens On The SEI Network

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    In the dynamic trading world where time is of the essence and you are looking for a combo of speed and low fees, the SEI Network is the fastest decentralized Cosmos-based L1 blockchain that is trading-based with the availability of decentralized exchanges (DExs). 

    The SEI Network has been optimized to handle large volumes of transactions quickly and efficiently while keeping costs low. This makes it an attractive option for businesses and individuals looking to exchange value in a fast, efficient, and cost-effective manner.

    The network has an in-built order book that allows smart contracts to easily access shared liquidity. This shared liquidity feature makes it possible for smart contracts to interact with each other and exchange value without third-party interference. 

    The way SEI is structured makes it possible for decentralized exchanges and trading applications in areas such as DeFi, NFTs, and gaming to provide the best possible user experience.

    In this easy-to-follow guide, we will explore the main features of the super-fast SEI Network, how to set up a trading account, and the different ways to obtain and trade the SEI token. By the end of this guide, you will have a good understanding of how the SEI Network works, its advantages, and how to get started.

    Features of SEI Network

    Speed: 

    The most unique feature of the SEI network is its speed. It is currently the fastest chain to finality, boasting an impressive lower bound of 300 milliseconds. With unparalleled speed and efficiency, SEI allows for transactions to be immutably recorded on the blockchain in record time using an on-chain order book.  

    It is superior in terms of finality and is indisputable.  When using SEI, users experience the near-instantaneous confirmation of their transactions, providing a seamless and efficient blockchain experience. 

    The network’s ability to achieve finality rapidly sets it apart from other blockchain platforms, making it an attractive choice for those seeking very fast and secure transaction processing. 

    Frontrunning protection: 

    The SEI network provides robust frontrunning protection, effectively combating the malicious practices that plague most of the other ecosystems. With advanced algorithms and stringent safeguards, SEI ensures secure and fair transaction processing, free from manipulation and unfair advantages. 

    By prioritizing integrity and trust, SEI sets a high standard for ethical conduct and fosters a level playing field for all participants to engage and experience a secure and reliable platform where transactions are protected, and investments are safeguarded.

    Twin Turbo Consensus: 

    One standout feature of the SEI network is the twin-turbo consensus. This innovative consensus mechanism harnesses the power of two turbocharged engines working in sync to allow SEI to achieve exceptional speed and throughput, surpassing industry standards. 

    SEI’s twin-turbo consensus is designed to handle a lot of transactions at once without slowing down or compromising reliability. It has the ability to adjust and allocate resources as needed when transaction volumes increase. 

    This means that the SEI network can keep up with growing demands and perform at its best without compromising speed or dependability. So no matter how many transactions are happening, SEI is able to ensure smooth and efficient processing all the way.

    Native Matching Engine:

    SEI’s native matching engine is a valuable asset for exchange teams, offering rapid order matching and execution capabilities. It empowers exchanges to handle high volumes of transactions efficiently, catering to active traders on the network.

    The engine’s flexibility allows customization to meet specific trading requirements, ensuring a tailored and user-friendly experience. With strict enforcement of matching rules, it upholds transparency and fairness in the trading process. Exchange teams leveraging SEI’s native matching engine can optimize their operations, enhance user experiences, and build a trustworthy trading ecosystem.

    SEI Network: The Layer 1 For Trading

    Trading is undeniably the most widely adopted use case for cryptocurrencies. However, it is a common misconception among crypto enthusiasts that trading is solely limited to decentralized finance (DeFi) applications. In reality, the need to exchange digital assets is fundamental to every aspect of the crypto ecosystem, ranging from social applications to non-fungible tokens (NFTs) and gaming.

    Recognizing the significance of trading across the crypto space, SEI Networks has developed a Layer 1 blockchain specifically tailored to meet the diverse trading needs of users. SEI’s primary objective is to provide a robust, scalable, and seamless trading experience. By optimizing every layer of the technology stack, SEI ensures that users can efficiently exchange digital assets across various sectors while maintaining reliability and scalability.

    SEI Networks addresses the scalability challenges associated with trading by building the first Layer 1 blockchain specialized for trading. This approach enables SEI to offer the most efficient infrastructure for the exchange of digital assets. 

    By focusing on the unique requirements of trading, SEI Networks aims to enhance the overall trading experience for users and facilitate the seamless flow of digital assets across different applications and use cases.

    With its emphasis on scalability, reliability, and user experience, SEI Networks is well-positioned to serve as a foundational blockchain platform for the trading of digital assets. Whether it’s DeFi protocols, NFT marketplaces, gaming platforms, or other crypto-based applications, SEI Networks provides a solid infrastructure to support the exchange of assets and foster the growth of the broader crypto ecosystem.

    SEI Token

    The rise in popularity of EVM-compliant blockchains and the parallelization process is driving the growth of the sei Network’s SEI token. SEI token serves as the native cryptocurrency within the SEI  ecosystem, SEI token fulfills a variety of roles, which include:

    1. Transaction Fees: SEI token is utilized to cover transaction fees incurred on the Sei Network. These fees serve as incentives for validators and contribute to the network’s security.
    2. Staking: SEI tokens can be staked by users to accrue rewards and bolster the overall security of the SEI Network.
    3. Governance: SEI tokenholders possess the ability to actively participate in the governance of the SEI Network. This participation encompasses voting on proposals and the election of validators.

    SEI token presents itself as a promising cryptocurrency with a diverse range of potential applications, positioning itself at the forefront of blockchain innovation tailored for trading purposes.

    How To Configure Your Wallet To Begin Trading On The SEI Network

    To trade tokens on the SEI Network, you would first need to connect your wallet to the SEI Network. Keplr is a popular browser extension wallet that can be used to interact with the SEI Network. 

     Ensure your Keplr wallet extension has been added to your browser as shown below:

    Once connected to your Keplr wallet, go to Keplr using the extension on your Chrome browser, click on the hamburger sign in the top left corner, and select “Manage Chain Visibility”: 

    Chain visibility

    Click on the search bar, next type in SEI, Enable it, and Save it:

    Choose SEI network

    How To Buy And Trade SEI  On Centralized Exchange Platforms

    To embark on the journey of acquiring SEI, one can explore various prominent exchanges where SEI is listed. Platforms such as Binance, Kucoin, and COINEx offer a convenient gateway for purchasing SEI.

    1. Create or log in to an account with any of the exchanges listed above.
    2. Deposit Funds: After logging in, using the image below click on “deposit” to deposit funds into your account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
    3. Navigate to SEI Trading Page: Once your account is funded, go to the dedicated SEI trading page or type “sei” in the search bar for easy navigation.  Here, you can find various trading pairs with SEI tokens.

      SEI EXCHANGE
    4. Choose a Trading Pair: Select the desired trading pair that matches SEI with another cryptocurrency. For instance, you may choose SEI/USDT if you wish to trade SEI against USDT (Tether).
      USDT buy
    5. Specify the Purchase Amount: Determine the quantity of SEI tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
    6. Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order. By following these comprehensive steps, you can easily trade SEI on CoinEx, taking advantage of the available trading pairs.

    Related Reading: Celestia Network: How To Stake TIA And Position For 5-Figure Airdrops

    Once you’re done, go to your Keplr wallet, click on Deposit, and copy your SEI wallet. Then go over to your centralized exchange account, click on Withdraw, and then send your SEI tokens to your Keplr wallet address you copied earlier. (Always double-check to make sure you have the correct wallet address).

    The SEI network is quite fast so the tokens should arrive in your Keplr wallet in a matter of minutes. As soon as the SEI tokens arrive in your wallet, you’re ready to start trading tokens on the network.

    How To Trade Tokens On SEI Network Using Keplr Wallet

    To start trading on the SEI network, navigate to the Astroport decentralized exchange (DEX). Visit the site’s homepage and click on “Start Trading” as indicated in the top right corner in the image below:

    Astroport SEI network

    The next step is selecting the SEI Network and clicking on the “Connect Wallet” option on Astroport at  the top right corner as illustrated below:

    Connect wallet

    Connect to your preferred wallet, in this case, it’s Keplr wallet:

    Connect Keplr wallet

    Once connected and the SEI network is enabled you can now trade on the SEI network by navigating to the DEX (decentralized exchange) in this case using Astroport and selecting the token pair you wish to trade.

    You can search for the token you want to trade using the name or the contract address obtained from the project’s website or official social media handles. Select the amount of SEI tokens you want to convert to the new token and click “Swap.”

    Astroport swap

    Once the transaction has been confirmed, your tokens will be transferred to your connected (Keplr) wallet. Rinse and repeat to buy and sell tokens on the SEI network. 

    Tracking SEI Token Charts

    Users can also utilize Coinhall to check charts, providing valuable market insights. Coinhall offers two distinct advantages: comprehensive charting tools that provide in-depth market analysis, and real-time access to valuable insights for making informed trading decisions.

    Coinhall SEI token charts

    Conclusion

    SEI network offers a fast, efficient, and cost-effective platform for buying and trading tokens. With its optimized infrastructure, SEI can handle large transaction volumes quickly and at low fees. It is the first sector-specific Layer 1 blockchain, specialized for trading to give exchanges an unfair advantage.

    The SEI token has been able to maintain strong investor support on their platforms including a seven-day rally leading to over 43% surge. The network’s features, such as its speed, frontrunning protection, twin-turbo consensus mechanism, and native matching engine, make it an attractive choice for trading enthusiasts.

    SEI’s native cryptocurrency, SEI token, serves various purposes within the ecosystem, including covering transaction fees, staking for rewards, and participating in governance.

    SEI price chart from Tradingview.com (DeFi trading)

    SEI price rises over 600% in one year | Source: SEIUSD on Tradingview.com

    Featured image from Medium, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Solana: Analyst Sees Bull Flag That Will Trigger Rally Above $150

    Solana: Analyst Sees Bull Flag That Will Trigger Rally Above $150

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    Solana (SOL) could well be on course to continue its remarkable run from 2023, going by a recent analysis by crypto analyst Ali Martinez. The analyst laid out a certain condition that could see SOL rise to as high as $150 soon enough. 

    How Solana Could Rise To $150

    Martinez noted in an X (formerly Twitter) post that Solana was breaking out from a bull flag that had developed on the 4-hour chart that he shared. According to him, the crypto token could rally towards the $150 to $165 price range if there was a sustained close above $106. However, that hasn’t been the case as SOL has declined to price levels far from that since then. 

    At the moment, SOL looks to be moving with the tide in the broader crypto market, which has been on a decline since the approval of the Spot Bitcoin ETFs. This decline is believed to be a result of Bitcoin being priced in before the approval order came in. As such, traders may be looking to take profits from the flagship crypto token and altcoins like SOL which they may have been invested in. 

    SOL market cap currently at $39.974 billion. Chart: TradingView.com

    Despite this occurrence, the general outlook on SOL looks bullish as there is the possibility that the crypto token could once again hit its all-time high of $260 this year. This looks more feasible, considering that the next bull run has been predicted to begin this year, possibly after the Bitcoin Halving.

    In the meantime, SOL’s investors might see the current dip as an opportunity to load up on more of the tokens, especially considering that it is currently trading below the psychological price level of $100. 

    ETH Could Usher In The Altcoin Season

    Crypto analyst Jaydee recently hinted that ETH could usher in the Altcoin season. This is known to be when other crypto tokens begin to outperform Bitcoin. Analyzing the Ethereum to Bitcoin price chart, the analyst noted that the “real altcoin season” begins when the Relative Strength Index (RSI) breaks above the 20 level. 

    His theory about Ethereum ushering in the altcoin season is also backed by recent sentiments in the crypto market. All attention looks to be turning to Ethereum in anticipation of a potential approval of the Ethereum Spot ETFs. Market intelligence platform Santiment recently noted how traders are particularly bullish about Ethereum. 

    With this in mind, ETH could begin to post significant gains against Bitcoin in the coming weeks, setting the tone for other altcoins. ETH already showed huge strength post the Spot Bitcoin ETF approval as it rallied to $2,700, the first time it has attained this level since May 2022. 

    Featured image from iStock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • The Bitcoin Price Could Drop To $37,000 Before The Halving

    The Bitcoin Price Could Drop To $37,000 Before The Halving

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    The price of Bitcoin has been on a massive bullish momentum since the approval and launch of Spot Bitcoin ETFs. However, a crypto analyst, Jason Pizzino, predicts a temporary halt in the growing trajectory, citing Bitcoin’s proximity to a crucial resistance point that could result in a significant price drop. 

    Analyst Foresees Bitcoin Price Correction

    In a recent YouTube video published on Friday, January 12, Pizzino shared his insights into the current market conditions of Bitcoin, the world’s largest cryptocurrency. According to the analyst, the price of the top crypto is expected to drop by 20% to 22%, reaching possible support levels of $37,000 to $39,000 before the Bitcoin halving. 

    The halving which is expected to take place in April 2024 is an event that would see Bitcoin mining rewards cut by half to reduce the number of new coins entering the market. This reduction effectively decreases the cryptocurrency’s total supply and supposedly increases its value through scarcity. 

    Pizzino substantiated his predictions by pointing out that BTC is currently trading at a key resistance level in the bull market that could result in a significant price correction. He acknowledged that the excitement surrounding Spot Bitcoin ETFs has successfully pushed the cryptocurrency to its recent highs. However, the crypto analyst also highlighted a possibility of complacency following the present hype which could lead to a major price correction. 

    Bitcoin slides back into the $42K territory. Chart: TradingView.com

    While the crypto has experienced an impressive uptrend in recent months, Pizzino emphasized the significance of understanding historical price patterns and market behaviors. He stressed the importance of being prepared for any potential correction or retracement in the price of Bitcoin. 

    BTC Plunges Below $42,000

    Following the official approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC), the price of Bitcoin has been skyrocketing. The cryptocurrency surged to $49,000 on Thursday, January 11, after Spot Bitcoin ETFs had launched and investors had started trading officially. 

    However, Bitcoin’s price experienced a massive downturn recently after news of Vanguard restricting its customers from trading Spot Bitcoin ETFs on its platform spread. As a result, the cryptocurrency experienced a price drop below $42,000, falling more than $7000 short of its 2024 peak of $49,000. 

    Presently, the coin has recouped some of its lost gains and at the time of writing it’s current trading price is at $43,158.52 according to CoinMarketCap. While the dip is perceived as a temporary setback for the crypto market, it is also regarded as an opportunity to enter the market at more affordable price levels. 

    Featured image from Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Bitcoin Price Suffers Post-Spot ETF Blues, Drops 7% To $43,200

    Bitcoin Price Suffers Post-Spot ETF Blues, Drops 7% To $43,200

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    The introduction of Bitcoin (BTC) exchange-traded funds (ETFs) has triggered a significant sell-off, leading to a sharp decline in the Bitcoin price.

    After gaining approval and commencing trading on Thursday, the ETFs have prompted a “sell the news” event, causing Bitcoin’s value to plummet from its initial trading price of $46,500 at the time of approval to a low of $43,200 within a matter of hours on Friday.

    Over the past 24 hours, Bitcoin, the largest cryptocurrency by market capitalization, has experienced a 7% drop. Its gains over the past 30 days have been limited to a mere 4%, erasing much of the progress made during that period. 

    Additionally, as selling pressure continues to mount following the approval, there are indications that the Bitcoin price may face further downward pressure.

    Bitcoin Price Under Pressure

    CryptoQuant analyst J.A. Maartunn observed significant sell orders in Bitcoin’s two-week chart on Wednesday. Notably, three clusters of sell orders were positioned between $46,100 and $48,000, comprising stacks of 755, 1,031, and 794 BTC, respectively.

    According to the CryptoQuant analyst, such patterns are typically associated with market tops, unless these orders are later withdrawn or executed.

    This influx of sell orders may help explain the lackluster response to the ETF approvals until now, as it appears that selling pressure has been building up. However, the situation has intensified even further. 

    According to Maartunn, additional sell orders were detected on Friday, indicating that the seller is not yet finished. Two substantial sell orders have been placed just above the current Bitcoin price: one for 894 BTC at $44,000 and another for 1,071 BTC at $45,100.

    Sell orders placed in BTC’s 2-week chart since Wednesday. Source: Maartunn on X

    These developments suggest that market participants are taking advantage of the ETF news to offload their Bitcoin holdings, leading to increased selling pressure and a subsequent price decline. 

    The market’s stabilization following this period of heightened selling pressure remains uncertain. The introduction of ETFs was believed to bring about heightened institutional interest and potentially drive up the Bitcoin price. 

    However, it is important to note that the impact of these ETFs is expected to unfold over the long term, rather than being evident within days, weeks, or even months. It will likely take years to fully gauge the effects and consequences of ETF integration on the Bitcoin market.

    Bitcoin’s Bullish Structure Remains Intact

    Amidst the ongoing selling pressure, several support lines may potentially halt the downtrend and bring positive news for the Bitcoin price and BTC bulls.

    Although Bitcoin has already lost its $44,000 support level, there is another crucial threshold at $42,700 that could prevent further decline. If this level holds, there is a chance for Bitcoin to regain the $43,000 mark and reverse the downward momentum.

    Bitcoin price
    The daily chart shows BTC’s price drop. Source: BTCUSDT on TradingView.com

    If the $42,700 support is breached, additional support lines come into play. These include $42,300, $41,700, and $41,200, which act as the last barriers before a potential test of the $40,000 support level. The $40,000 mark holds significance as it represents the final support before a potential dip towards $38,000.

    However, there is a positive aspect for Bitcoin bulls to consider. The current bullish structure of the cryptocurrency remains intact as long as the dip does not breach the $29,900 mark.

    This level marked the beginning of the current bullish uptrend, and its preservation would ensure the maintenance of the overall positive market structure.

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Ethereum Classic Explodes Over 50% In Massive Price Jump

    Ethereum Classic Explodes Over 50% In Massive Price Jump

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    The long-awaited arrival of a Bitcoin spot ETF in the US has sparked a surge in cryptocurrency prices, with Ethereum Classic leading the charge among altcoins.

    After languishing around $20 for months, Ethereum Classic (ETC) has skyrocketed over 50% in the past seven days, currently hovering around $29.45 and just a breath away from reclaiming the $30 mark.

    This impressive rally comes amidst a broader market upswing triggered by the Securities and Exchange Commission’s (SEC) historic approval of the Bitcoin Trust ETF on January 10th, 2024.

    ETC price action in the last week. Source: Coingecko

    Ethereum Classic Surge: A Combination Of Factors

    ETF-fueled optimism: The approval of the Bitcoin spot ETF signifies increased institutional interest in the crypto market, a development that traditionally benefits the entire ecosystem, including altcoins like ETC.  This optimism is reflected in the strong performance of other major cryptocurrencies, with Ethereum witnessing a 10% climb and briefly hitting a 20-month high above $2,600.

    Ethereum Classic’s unique appeal: Compared to its Ethereum counterpart, Ethereum Classic boasts a smaller market cap and lower transaction fees, potentially making it a more attractive option for traders seeking higher returns and cheaper on-chain activity. Its recent network upgrades have also bolstered confidence in its technological capabilities.

    Spillover effect and community hype: The Bitcoin ETF approval has undoubtedly fueled a general sense of bullishness across the crypto landscape, influencing investor sentiment towards altcoins with perceived potential. Additionally, the strong community support and active development around Ethereum Classic further contribute to its upward momentum.

    ETC market cap currently at $4.248 billion. Chart: TradingView.com

    ETC Trading Volume Soars

    The surge isn’t just limited to price. Ethereum Classic’s trading volume has also soared by a staggering 276% in the past 24 hours, reaching a volume of $1.8 billion.

    This increase in trading activity further validates the market’s interest in Ethereum Classic and potentially indicates continued upward pressure on its price.

    However, it’s crucial to remember that the crypto market remains highly volatile. While the Bitcoin spot ETF approval and Ethereum Classic’s recent performance are positive indicators, investors should conduct thorough research and consider both the potential benefits and risks before making any investment decisions.

    With its strong community, technological advancements, and now, the tailwinds of the Bitcoin ETF approval, Ethereum Classic has positioned itself as a frontrunner in the current altcoin rally.

    Whether it can sustain its momentum and break through the $30 barrier remains to be seen, but its recent performance signals a renewed level of enthusiasm for this resilient blockchain project.

    Featured image from Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • BREAKING: SEC Approves All 11 Spot Bitcoin ETFs, BTC Price Holds Steady At $46,000

    BREAKING: SEC Approves All 11 Spot Bitcoin ETFs, BTC Price Holds Steady At $46,000

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    In a groundbreaking development for the cryptocurrency and Bitcoin market, the United States Securities and Exchange Commission (SEC) has approved all 11 spot Bitcoin ETFs submitted by the world’s largest asset managers. 

    Bitcoin ETFs Align With Exchange Act Standards

    In its official filing, the SEC stated that each proposal sought to list and trade shares of a trust that would hold spot Bitcoin, either wholly or partially. 

    Importantly, the commission found that the proposals were consistent with the provisions of the Exchange Act and the applicable rules and regulations governing national securities exchanges. 

    Specifically, the SEC determined that the proposals adhere to the requirements outlined in Section 6(b)(5) of the Exchange Act, which includes preventing fraudulent and manipulative acts and practices to protect investors and the public interest.

    SEC’s approval announcement on January 10. Source: SEC’s official filing

    The approval of these Bitcoin ETFs marks an important milestone in the maturation of the cryptocurrency market. 

    However, despite the significant news, the Bitcoin price has remained stable at the $46,200 level, defying some expectations of immediate price surges following the SEC’s decision. 

    Nevertheless, it is important to note that the true impact of these index funds is anticipated to unfold over the coming years, once institutions and retail investors fully enter the market.

    New Era For Bitcoin

    According to the official filing, trading for the approved Bitcoin ETFs is scheduled to commence tomorrow, enabling market participants to gain exposure to Bitcoin through regulated and traditional investment vehicles. 

    The introduction of these Bitcoin ETFs is expected to attract a broader range of investors, including institutional players, and contribute to increased liquidity and market efficiency.

    Ultimately, as institutional and retail investor participation grows, the Bitcoin market is poised for significant developments and further mainstream adoption. 

    The approval of these ETFs represents a pivotal moment in the ongoing integration of cryptocurrencies into the traditional financial system. It sets the stage for future growth, innovation, and the potential for broader acceptance of digital assets in the investment landscape.

    Bitcoin ETFs
    The daily chart shows BTC’s price has remained stable despite the SEC’s ETF approvals. Source: BTCUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Cardano Drops 18% Despite 250% Surge In Development Activity

    Cardano Drops 18% Despite 250% Surge In Development Activity

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    Cardano (ADA) closed out 2023 with a rollercoaster ride, soaring towards $0.70 before plummeting back to $0.52 by the new year. While this sharp correction was anticipated, concerns linger about an ongoing bearish sentiment despite room for growth.

    Recovery won’t be a walk in the park. Currently trading at $0.52, Cardano faces an uphill battle. However, glimmers of hope remain.

    Cardano (ADA): Resilient Support Amid Development

    Notably, ADA hasn’t breached the crucial support level of the 200-day EMA, suggesting an underlying bullish bias for the long-term trend that began in mid-October.

    This technical indicator points towards potential for a rebound, although sustained upward momentum will require additional catalysts.

    Cardano’s 2024 started with a development bang, not a price boom. Development activity surged 250% in 30 days, showcasing a vibrant ecosystem buzzing with innovation.

    Unfortunately, this internal optimism hasn’t translated to external cheer. The bears remain firmly in control, driving ADA’s price down 18% in a week and 10% in 24 hours.

    At $0.52, ADA currently ranks 8th by market cap, but its chart is decidedly red. This disconnect between bustling development and bearish price action highlights the complex cocktail of factors influencing cryptocurrency markets.

    While a thriving ecosystem bodes well for the future, short-term sentiment reigns supreme, swayed by news, speculation, and overall market trends.

    ADA market cap currently at $18.47 billion. Chart: TradingView.com

    On the fundamental side, Cardano’s ecosystem continues to flourish. The recent Vasil hard fork and growing DeFi activity inject optimism, but external factors like broader market sentiment and regulatory uncertainties could throw wrenches in the recovery gears.

    Cardano’s Outlook: Navigating Uncertainty For Growth

    Cardano’s near-term outlook remains somewhat cloudy. While the recent dip was expected, complete bearish dominance seems unlikely.

    Technical indicators hint at a potential uptrend, but navigating choppy waters will require a confluence of positive catalysts and a watchful eye on the broader market.

    So, what’s next for Cardano? The recent development surge suggests a project on the move, but overcoming bear dominance requires more than just internal progress.

    Catalysts like positive news events or broader market recovery could be the wind beneath ADA’s wings. For now, investors face a classic crypto conundrum: weigh long-term potential against the immediate sting of a bearish market.

    Cardano finds itself at a crossroads in the early days of 2024, with the clash between internal development strides and external market dynamics shaping its narrative.

    Despite a remarkable surge in development activity, ADA’s price has faced a significant downturn, reflecting the intricate dance between optimism and market sentiment.

    Featured image from Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • How To Bridge And Trade On The Injective (INJ) Network

    How To Bridge And Trade On The Injective (INJ) Network

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    Injective is a blockchain designed specifically for finance. It is an interoperable and environmentally-friendly layer 1 blockchain that supports advanced DeFi applications, including crypto trading dApps, like spot and derivative exchanges, and lending protocols.

    That being said, in the fast-paced world of cryptocurrency, the Injective Network has emerged as a trailblazing force, revolutionizing the landscape with its innovative approach to scalability and seamless trading experiences. In my opinion, I will say that Injective is trying to follow the Solana path in terms of progressive growth in the ecosystem and price value. 

    In this in-depth guide, we’ll navigate through the essential features of the Injective (INJ) Network, unravel the intricacies of initiating your trading journey, and explore various methods to acquire and trade the coveted Injective Coin (INJ).

    Solving Scalability: The Essence of Injective (INJ) Network

    The scalability challenge has long been a hurdle for widespread crypto adoption, and Injective Network steps up to the task as a groundbreaking solution. Scalability is the reason some people don’t trade certain coins. For instance, I avoid making certain Ethereum transactions because of the high gas fees. If I want to make any monetary transaction, I prefer to use a more scalable coin like injective (INJ).

    Scalability isn’t just about transaction costs but also about the speed of transactions. Injective Network boasts a remarkable transaction speed of 0.8 seconds, leaving competitors, including Ethereum and its layer 2 counterparts, in the rearview mirror. What more can you ask for with their gas fees as low as $0.01, Injective Network brings unparalleled efficiency to the world of blockchain transactions.

    Injective (INJ) gives you a better DeFi experience, this is because you are not scared of exploring the DeFi space due to high gas fees and slow annoying transaction speed. If you have transacted on the Ethereum chain or done any past DeFi activity on the Ethereum chain, you will be conscious of your exploration because each activity will incur a transaction fee whether the contract signed is successful or not and it’s not cheap.

    Initiating Your Injective Trading Journey

    Embarking on your trading journey within the Injective Network involves meticulous steps to ensure a seamless experience. The choice of a compatible wallet is paramount, and here, we delve deeper into two main types:

    1. EVM Based Wallets:

    EVM compatibility is the bedrock for smooth integration with Injective Network. While Metamask is a popular choice, it’s essential to understand its intricacies, especially when it comes to the EVM chain. Exploring alternative EVM-based wallets can provide tailored solutions for optimal user experience.

    It is preferable to use an EVM wallet like Metamask if you are bridging from an EVM chain to an injective chain. As we go further into this post, you will learn how to bridge from EVM to the injective chain. EVM wallet like metamask makes your Defi experience on the injective easier but you can’t compare it to that of the cosmos-based wallet. 

    1. Cosmos Based Wallet:

    For a user-friendly experience on your PC, consider Cosmos-based wallets like Leap and Keplr. These Chrome extensions are tailor-made for Injective Networks, ensuring not just compatibility but also enhanced security features. Using a Cosmos-based wallet makes interaction far easier than EVM-based wallets. But you can’t have EVM-based assets on this wallet, this means that you can’t bridge EVM assets to injective using this wallet, you need to use Metamask. 

    These wallets, the EVM-based wallets, and the Cosmos-based Based Wallets are great for your smooth Defi experience when interacting on the injective chain.

    Acquiring Injective Coin (INJ)

    Once your wallet is set up, the next crucial step is acquiring the prized Injective Coin. INJ is prominently listed on various centralized exchanges, including Binance, Coinbase, Kucoin, Bybit, OKX, and Gate.io. Each exchange offers its unique advantages, and strategic users may explore multiple platforms for optimal trading conditions.

     

    Consider securing your INJ in a Keplr wallet for efficient portfolio management. When you are sending INJ from centralized crypto exchanges to your Keplr wallet, make sure you choose the Injective network and paste your Injective network address from your Keplr wallet.

    Setting Up Keplr Wallet for Injective Chain Visibility

    Creating a Keplr wallet is a straightforward process through the Chrome extension. Get your Keplr wallet, and create a new wallet, you will be given a seed phrase, save the seed phrase, usually a 12 or 24-word seed phrase. Do not forget to save them, in order not to lose your account permanently.

    To make the Injective chain visible in your Keplr wallet, follow these steps:

    1. Click on the hamburger sign in the top left corner.
    2. Navigate to “Manage Chain Visibility.”

    This will take you to where you can view the chain visibility on the Keplr wallet, this is essential as it helps you select other chains on the Keplr wallet.

    Wallet

    1. Search for “Injective” or “Inj” and click on “Add Token.”

    Injective 2

    By enhancing Injective-related keywords in your wallet setup process, you not only optimize for search engines but also ensure clarity for users seeking to manage their INJ effectively.

    Wallet

    It is important to know that every address on the injective chain starts with the “inj” prefix, this helps you identify the injective chain easily. Congratulations you are about to begin your Injective DeFi journey. 

    Defi means Decentralised Finance, this is a type of transaction that doesn’t require a centralized platform like Binance, Bybit, OKX, or whatever centralized exchange you know. All you need to perform a DeFi transaction is a DEX (Decentralised Exchange) wallets like Keplr and a Dapp (Decentralised Application).

    We have a wallet now, we need to fund it with INJ before interacting with a Dapp on the Injective wallet. You can get INJ tokens from an exchange like Binance Binance. You can deposit on your Binance in whatever way you are used to depositing on your Binance, you can deposit USDT with fiat. Trade the USDT for INJ. The next step is to withdraw the INJ to your Keplr wallet. Withdraw the INJ on the Injective wallet.

    Withdrawing INJ coin and Bridging Tokens:

    The withdrawal process after acquiring INJ involves selecting the coin, choosing the Injective chain, and pasting your Keplr Injective address. Remember the address has to start with “INJ”. This step is crucial for securing your assets, and benefits from additional details regarding security measures, transaction confirmation times, and potential challenges users might encounter. This is just one method to get INJ from a centralized exchange, you can also get INJ by bridging. 

    Bridging, an alternative method for bringing tokens to Injective, is an essential strategy, especially for users keen on optimizing their portfolio across multiple chains. Bridging from an EVM-based wallet requires a metamask and INJ on an EVM chain. For instance, if you have INJ on the ETH chain in your metamask, all you need to do is connect your metamask to the Injective Bridge platform. This will help you bridge from the ETH chain to the injective chain.

    Bridge

    Bridging Tokens in the Cosmos-Based Wallet Ecosystem:

    An intriguing method to diversify your portfolio involves bridging tokens from the Cosmos-based wallet ecosystem to Injective. For example, bridging TIA (Celestia) to Injective and swapping TIA (Injective) to INJ (Injective) using Astroport opens up opportunities within the Cosmos ecosystem.

    You will have to go to the Injective Bridge platform, connect to your cosmos-based wallet, select whatever cosmos-based wallet token you have like TIA (Celestia), and bridge from the Celestia chain to the injective chain. Emphasizing this integration showcases the versatility of Injective Network and its compatibility with other blockchain ecosystems. Now you have TIA(Injective) you need to swap it to INJ, trading or swapping can be done Astroport.

    Injective 5

    Trading INJ on Astroport

    Astroport, the decentralized exchange (DEX) on the Injective chain, serves as the epicenter for token swaps. After successfully bridging tokens, users can initiate trades on Astroport, leveraging the platform’s decentralized nature for portfolio diversification. Whatever you are swapping here is expected to be on the injective chain, you can swap INJ for all the available tokens, and now you can trade as easily as you like.

    How To Trade on Coinhall

    Coinhall is a site where you can bridge directly and swap. It is a multi-token bridge swap DEX that you can use to bridge and swap at the same time but only for Cosmos-based tokens and coins. It serves as a smart chart for all cosmos-based tokens including injective and also for swapping and bridging. 

    Injective 6

    You can see all the available coins and tokens with their respective prices here, it’s a good DEX dApp to use. You can scroll here and search for the token you are looking for. You can also search by using the search bar. 

    If you want to trade a token and you can find it on the list, all you have to do is go to Coinhall and type the name of the token, as well as search using a contract address.

    Coingecko is also a good site that has the details of coins. Here, you can search for the name of the coin or token you are looking for, and get the contract address directly. 

    Injective 7

    Go to the info section and search for the contract, copy the smart contract from Coingecko, and paste it into the coinhall market search button. 

    Like this:

    Injective 8

    This will take you to where you will be able to trade any token based on the dex.  

    Injective 9

    Let’s explore Coinhall as A Bridge Swap DEX

    To explore Coinhall this way, you need to navigate to the Swap section. This section will give you the opportunity to bridge and swap at the same time. For instance, if you want to swap TIA (Celestia) to INJ (Injective) you can do this at ease with one click. 

    Instead of bridging TIA (Celestia) to TIA (Injective) then swapping it to INJ. You can do it as shown below:

    Injective 10

    Conclusion

    With your INJ Coin securely stored in your wallet, you’re now poised to explore the exciting world of trading on the Injective Network. The scalability, low transaction fees, and swift processing times position the blockchain as a promising platform for crypto enthusiasts and traders alike. In the dynamic realm of decentralized finance (DeFi), Injective Network stands tall, offering innovative solutions for seamless and efficient trading experiences. 

    As you navigate this multifaceted landscape, remember that the Injective Network isn’t just a platform; it’s a gateway to transformative technology shaping the future of cryptocurrency. These steps, when taken with a strategic mindset, offer not only trading opportunities but also a deeper understanding of the evolving crypto ecosystem. 

    Stay informed, trade wisely, and harness the full potential of the Injective Network, where every transaction is an opportunity to redefine your crypto journey.

    In summary, this comprehensive guide provides an extensive roadmap for mastering the Injective Network, ensuring that users, from beginners to seasoned traders, can navigate the intricacies of this innovative blockchain ecosystem with confidence and clarity.

    Injective (INJ) price chart from Tradingview.com (Trade Bridge DeFi)

    INJ price grew rapidly in 2023 | Source: INJUSDT on Tradingview.com

    Featured image from Crypto Briefing, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Ethereum Giga Whales On A Historic Buying Spree

    Ethereum Giga Whales On A Historic Buying Spree

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    Ethereum whales have been on a buying spree for a while now, which is an indication of their sustained support for the king of altcoins. These whale buys have particularly increased in the past few weeks. On-chain data from Santiment reveals Ethereum’s largest private wallets now hold an all-time high of 56.25 million ETH, representing 46.8% of the crypto’s total circulating supply. 

    Ethereum Whales Accumulate Record Amounts Of ETH

    Ethereum is currently trading in a range, as price action shows the crypto trading between the higher end of $2,434 and the lower end of $2,127 in the past 30 days. However, the crypto is now showing signs of recovery after a recent price recovery and is now building strong momentum above $2,200. 

    Amidst the price theatrics, Ethereum whales have been buying more ETH into their wallets to push the total count to new highs upon new highs. At the same time, these whales have been withdrawing from exchanges, causing ETH on exchange-owned addresses to drop to their lowest levels in over five years.

    According to data from on-chain analytics platform Santiment, a record 65.71 million ETH, representing 54.67% of the total circulating supply is now held by top addresses. Out of this figure, 56.25 million ETH belong to the top 150 self-custodial wallets. Consequently, the top 150 exchange-linked wallets now hold 9.46 million ETH, nearing its lowest level since June 2018. 

    Increasing Whale Accumulation: Possible Explanation

    The crypto industry went through a strong price surge in the last quarter of 2023, flipping the optimism around most cryptocurrencies bullish. Continued whale acquisitions can be linked to an anticipated continuation of the price growth in 2024, with the imminent approval of Bitcoin and Ethereum spot ETFs in the US lurking in the background.

    ETH market cap currently at $268 billion. Chart: TradingView.com

    The accumulation from Ethereum’s largest whales is a good sign for the long-term price, as it signals they believe the price will continue to increase. Their buying power also helps to establish price support by reducing the supply of ETH for sale. 

    Spotonchain recently showed that an Ethereum whale, identified as ‘0x931’, bought 21,192 ETH worth approximately $48 million at an average price of $2,265. The recent purchase now puts the whale’s total buys at 79,500 ETH since January 2023 and is now sitting on $36.84 million unrealized profit.

    At the same time, liquid staking protocols witnessed steady deposits throughout 2023. Data from DeFiLlama shows that 12.3m ETH ($27.585 billion) are currently locked in ETH liquid staking derivatives. This represents an 80% growth from 6.8 million ETH locked in January 2023. 

    Featured image from Pixabay

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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