Yesterday’s positive market momentum, which saw Bitcoin (BTC) and Etheruem (ETH) reach their respective weekly highs, has unfortunately turned into a sea of red over the last 24 hours. The total cryptocurrency market capitalization has shrunk by roughly 10%, with numerous coins experiencing double-digit losses.
Edward Snowden, arguably the most famous whistleblower, took to Twitter to reject criticism that he just recently discovered Bitcoin (BTC). A former CIA agent who went public with NSA’s unlawful tactics in combating terrorism said he was a crypto early adopter and used BTC to pay for the servers that hosted leaked documents in 2013.
Celsius Network, a centralized provider of cryptocurrency loans, has announced a $300 million investment into Bitcoin (BTC) mining equipment and related services. With over $200 million invested in BTC mining facilities in North America (NA) earlier in the year, Celsius has now allocated more than $500 million to complement its lending business with a Bitcoin mining venture.
Glassnode, a blockchain analytics firm, published a new installment of its weekly onchain report on Monday. The report sifted through the recent Bitcoin (BTC) market trends and analyzed how the latest pullback impacted the trading markets.
After buying a one-ounce Btcioin physical coin with a denomination of 1,000 Bitcoin (BTC) in 2011 for $4,905, the anonymous investor couldn’t possibly have predicted that he would be in possession of the most valuable numismatic item just ten years later.
The institutional adoption of digital assets has picked up the pace over the past month. Proshares’ BITO, the first Bitcoin futures-based ETF, launched in mid-October. A leading cryptocurrency asset management firm Valkyrie Investments launched its Valkyrie Bitcoin Strategy Fund (BTF) shortly after that, on October 22. Now, Valkyrie has announced the launch of a new cryptocurrency fund that will be exclusively focused on the decentralized finance (DeFi) sector.
Last week, the U.S. Securities and Exchange Commission (SEC) rejected VanEck’s Bitcoin spot exchange-traded fund (ETF) application. A couple of days after the latest BTC spot ETF was rejected, the future-based version of VanEck’s BTC ETF was launched. What’s behind the regulators’ unwillingness to allow trading of US-based crypto spot ETFs?
After trading in a relatively tight range for the past week, Bitcoin (BTC) has been experiencing heavy selling pressure over the course of the last 24 hours. Other digital assets followed suit. Ethereum (ETH) dropped to a two-week low as did Cardano (ADA) and Polkadot (DOT), while 98 out of the top 100 cryptocurrencies are being traded in the red zone at the time of this writing.
After years of back and forth with the U.S. regulators, VanEck’s exchange-traded fund based on Bitcoin futures has finally been greenlit and will begin trading on Tuesday on the Chicago Board Options Exchange (CBOE).