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Top Crypto News Today

Monday, March 24, 2025 / No Comments

Saylor’s Strategy Expands Bitcoin Holdings Beyond 500K BTC

Michael Saylor’s investment firm, Strategy, has once again made waves in the crypto world, purchasing 6,911 Bitcoin for $584 million during a recent market dip. According to a newly filed SEC report, the acquisition, made between March 17 and March 23, brings Strategy’s total Bitcoin holdings to 506,137 BTC worth approximately $33.7 billion at an average purchase price of $66,608 per coin.

This milestone follows Strategy’s recent preferred stock offering, which generated $711 million in capital. The stock was sold at $85 per share with a 10% coupon, and the firm is expected to settle the transaction by March 25, 2025.

Bitcoin Eyes $90K as Trump Signals Tariff Easing

Bitcoin could be setting up for a surge toward $90,000, driven by shifting U.S. economic policies. According to Markus Thielen, founder of 10x Research, former President Donald Trump’s softened stance on reciprocal tariffs set to take effect on April 2 may be a bullish catalyst for crypto markets.

Thielen also pointed to recent signals from the Federal Reserve, suggesting that it may look past short-term inflationary pressures, potentially paving the way for future rate cuts. These developments have turned several key Bitcoin reversal indicators bullish, with BTC’s 21-day moving average now at $85,200.

Cathie Wood to Lead AI Education Initiative in El Salvador

ARK Invest founder Cathie Wood is set to kick off El Salvador’s artificial intelligence (AI) public education program with an inaugural lecture. Announced by the country’s Bitcoin Office, the initiative will provide university-level AI education led by industry experts.

Wood, a strong advocate for Bitcoin and emerging technologies, has previously met with El Salvador’s President Nayib Bukele to discuss the country’s pro-innovation policies. She believes that with the right approach, El Salvador could see its GDP multiply tenfold over the next five years.

Trump Promises U.S. Leadership in Bitcoin as BTC Rebounds from Four-Month Downtrend

Thursday, March 20, 2025 / No Comments

Bitcoin breaks four-month downtrend

Bitcoin breaks four-month downtrend amid bullish momentum and renewed political support. surged past key resistance levels on March 20 as bullish sentiment strengthened following remarks from former U.S. President Donald Trump. Addressing the Blockworks Digital Asset Summit 2025, Trump reaffirmed his commitment to positioning the U.S. as a global leader in cryptocurrency.

Bitcoin Recovers as Trump Reaffirms Pro-Crypto Stance

BTC/USD climbed above $86,000, supported by macroeconomic developments and speculation surrounding upcoming regulatory shifts. Data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin reclaimed its 200-day simple moving average (SMA), a crucial indicator during bull markets.

Trump’s speech further bolstered optimism, with the former president pledging not to sell confiscated U.S. Bitcoin holdings and promising to dismantle restrictive policies such as Operation Chokepoint 2.0. However, no details were provided on potential government Bitcoin purchases.

"Together, we will make America the undisputed Bitcoin superpower and the crypto capital of the world," Trump stated during his virtual address.

Technical Breakout Signals Strength

Market analysts highlighted a significant technical shift, with Bitcoin breaking a long-term downtrend on its relative strength index (RSI) for the first time since November 2024. Popular trader and analyst Rekt Capital emphasized the importance of Bitcoin closing above the 200-day exponential moving average (EMA), describing it as a key indicator of investor sentiment.

"Bitcoin has most recently daily closed above the 200 EMA and is now in the process of retesting it as new support," Rekt Capital noted on X.

Macroeconomic Uncertainty Remains

Despite the rally, trading firm QCP Capital cautioned that broader economic risks could still weigh on Bitcoin’s performance. The Federal Reserve’s latest economic projections revealed a downgrade in growth estimates to 1.7% while raising the inflation forecast to 2.8%, raising concerns about stagflation.

“The Fed’s latest dot plot also showed a more hawkish stance, with four officials now expecting no rate cuts in 2025,” QCP Capital stated in a note to clients.

According to data from CME Group’s FedWatch Tool, market participants remain uncertain about the timing of potential rate cuts, with expectations now pushed to June.

As Bitcoin’s price action continues to evolve, investors are watching whether momentum will sustain or if economic uncertainties will dampen enthusiasm.

Bitcoin’s Dip is a Normal Correction, Cycle Peak Still Ahead, Say Analysts

Wednesday, March 19, 2025 / No Comments

Bitcoin’s recent price drop is nothing out of the ordinary, with analysts calling it a routine market correction rather than the end of the bull cycle. Crypto experts point to macroeconomic factors, including uncertainty around U.S. tariffs and interest rates, as reasons for the slowdown. However, they maintain that Bitcoin’s long-term trajectory remains bullish.

Bitcoin's Price Action:

Bitcoin has dropped 24% from its all-time high of $109,000 on Jan. 20, currently trading at $82,824. Analysts note that similar corrections have occurred in previous market cycles, suggesting this pullback is a natural phase in Bitcoin’s long-term trajectory.

The market needed to cool off after an overheated rally, says Ben Simpson, CEO of Collective Shift. Nick Forster, founder of Derive, adds that Bitcoin is still in a healthy long-term uptrend: “Historically, Bitcoin sees these corrections before hitting new highs.” While some experts warn of potential short-term volatility, others believe factors like U.S. rate cuts and easing liquidity could drive Bitcoin to new peaks later this year.

83% of Institutions Plan to Increase Crypto Allocations in 2025, Coinbase Report Reveals

Tuesday, March 18, 2025 / No Comments

Institutional investors are betting big on crypto, with 83% planning to increase allocations in 2025, according to a new report from Coinbase and EY-Parthenon.

The study, which surveyed over 350 institutional investors, found that nearly three-quarters of firms already hold cryptocurrencies beyond Bitcoin (BTC $82,525) and Ether (ETH $4,238), with XRP (XRP $2.28) and Solana (SOL $125.28) emerging as top choices.

Growing Interest in Altcoins and ETFs

Altcoin holdings could see an even greater boost if U.S. regulators approve long-awaited altcoin ETFs this year. Bloomberg Intelligence analysts predict Litecoin (LTC $89.75), Solana (SOL), and XRP (XRP) are likely to receive early approvals.

The institutional push for crypto investment follows the Chicago Mercantile Exchange’s (CME) launch of Solana futures on March 17, a major step toward mainstream adoption of altcoins.

Stablecoins and DeFi on the Rise

Meanwhile, stablecoins continue to gain traction among institutions, with 84% of respondents either holding or exploring stablecoin investments.

Surveyed firms cited stablecoins' role in foreign exchange (69%), internal cash management (68%), and external payments (63%) as key drivers of adoption.

Decentralized finance (DeFi) is also expected to see a major boom, with institutional use projected to jump from 24% today to nearly 75% in two years. Key DeFi interests include derivatives, staking, lending, and yield farming.

Crypto Market Outlook

With institutional investors increasingly viewing crypto as a top opportunity for risk-adjusted returns, the sector is poised for significant growth.

Stay tuned as regulatory decisions and market trends shape the next phase of institutional crypto adoption.

Today's Crypto Highlights: Pavel Durov's Legal Status, South Korea’s Bitcoin Reserve Stance, and More

Monday, March 17, 2025 / No Comments

Pavel Durov’s Legal Restrictions Temporarily Lifted

French authorities have suspended judicial restrictions on Telegram founder Pavel Durov until April 7, according to a report from Russian news agency TASS. The decision allows Durov to return to Dubai after spending months in France. In a Telegram post, he expressed gratitude to the judges and stated that while the legal process continues, it "feels great to be home."

Bank of Korea Maintains Distance from Bitcoin Reserves

South Korea’s central bank has dismissed speculation about adding Bitcoin to its foreign exchange reserves. In response to an inquiry from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee, the Bank of Korea confirmed it has not reviewed or discussed the inclusion of Bitcoin, citing concerns over its high volatility and potential liquidity risks during market downturns.

Quantum Computing and Bitcoin Security Debate

Jameson Lopp, Chief Security Officer at Bitcoin custody firm Casa, has voiced concerns over the potential use of quantum computers to recover lost Bitcoin. Lopp argues that such actions would undermine key principles of Bitcoin, including transaction immutability and security. His comments follow a proposal from Tether CEO Paolo Ardoino, who suggested in February that quantum computing could be leveraged to restore lost Bitcoin.

US Bitcoin ETFs End Outflow Streak with $13.3M Inflow

Thursday, March 13, 2025 / No Comments

After experiencing significant outflows throughout March, US Bitcoin exchange-traded funds (ETFs) have finally reversed the trend, recording a $13.3 million inflow on March 12. This marks the end of a seven-day streak of withdrawals, as Bitcoin's price edges closer to $85,000 despite ongoing macroeconomic concerns and geopolitical instability.

According to data from Farside Investors, spot Bitcoin ETFs saw $35.4 million in inflows over two days, helping offset the $1.33 billion in outflows that had occurred earlier in the month. Meanwhile, spot Ether ETFs reported a single day of inflows, bringing in $14.6 million on March 4.

Bitcoin ETF Market Activity

Sosovalue data confirmed the $13.3 million inflow on March 12, signaling a temporary halt in the capital exodus from Bitcoin ETFs. The total trading volume for Bitcoin ETFs that day amounted to $2.01 billion, the lowest since February 20. The inflows came from three major Bitcoin funds:

BlackRock’s iShares Bitcoin Trust (IBIT)
ARK 21Shares Bitcoin ETF (ARKB)
Grayscale Bitcoin Mini Trust ETF (BTC)

On the Ethereum side, the only inflow recorded came from the Fidelity Ethereum Fund (FETH), Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), and the Grayscale Ethereum Mini Trust (ETH).

Macroeconomic Pressures and Market Reactions

The ETF outflows have been largely attributed to broader market downturns, geopolitical tensions, and bearish investor sentiment. Factors such as trade wars and macroeconomic uncertainties have contributed to heightened volatility.

Additionally, analysts point to the lack of clarity on former President Donald Trump’s proposed Strategic Bitcoin Reserve Plan, which has led to increased selling pressure despite Bitcoin maintaining levels above $80,000.

Potential Market Volatility Ahead

While the recent inflows suggest renewed investor confidence, market analysts warn that upcoming European Union retaliatory tariffs could introduce further instability, potentially impacting Bitcoin’s price trajectory in the weeks ahead.

Should the US government buy XRP, solana and cardano?

Tuesday, March 11, 2025 / No Comments

President Donald Trump has proposed the inclusion of altcoins such as XRP, Solana (SOL), and Cardano (ADA) in a U.S. strategic cryptocurrency reserve. This announcement has sparked debate among industry leaders regarding the necessity and strategic value of these specific cryptocurrencies.

While the inclusion of Bitcoin and Ether in the reserve seems justified due to their longstanding dominance and strategic relevance, experts like Anastasia Ulianova argue that additional altcoins may not hold significant value in the U.S.'s commercial or economic landscape. Following Trump's announcement, digital asset prices surged, with XRP increasing by more than 35% and Cardano by over 60%.

However, blockchain expert Kirill Kretov suggested that the selection criteria might have leaned towards market capitalization instead of technological innovation. Industry reactions have been mixed, with speculations about possible favoritism and concerns over the long-term impact on the market. Despite the initial price surge, the crypto market experienced a significant decline shortly after the announcement, correlating with broader financial market trends.

Today's Crypto Highlights

Saturday, March 1, 2025 / No Comments

Ethereum Foundation Announces New Leadership

The Ethereum Foundation has appointed Hsiao-Wei Wang and Tomasz Stańczak as co-executive directors. Wang brings seven years of experience as a researcher at the Foundation, while Stańczak is the founder of Nethermind, a prominent Ethereum execution client. They will assume their roles on March 17, aiming to guide Ethereum through its next growth phase.

President Trump to Host First White House Crypto Summit

On March 7, President Donald Trump will host the inaugural White House Crypto Summit. The event will gather industry leaders, including founders, CEOs, and investors, to discuss regulatory frameworks, stablecoin oversight, and Bitcoin's role in the U.S. financial system. David Sacks, the White House AI and Crypto Czar, will chair the summit, reflecting the administration's commitment to positioning the U.S. as a leader in the crypto space.

CME Group to Launch Solana Futures Contracts

The Chicago Mercantile Exchange (CME) Group has announced plans to introduce Solana (SOL) futures contracts on March 17, pending regulatory approval. These contracts will be available in micro sizes of 25 SOL and standard sizes of 500 SOL, all cash-settled. This addition offers traditional investors broader exposure to the crypto markets and is expected to bring fresh capital into the ecosystem.

Today's Top Crypto Performers: Brett, Virtuals Protocol, Osmosis, and more

Friday, February 21, 2025 / No Comments

As of February 21, 2025, the cryptocurrency market has experienced notable activity. Here's an overview of the top-performing cryptocurrencies:

Brett (BRETT)

Brett, a memecoin on the Base blockchain, has risen in popularity by blending humor and nostalgia. This coin has surged by over 15% due to strong market interest and substantial whale activity. Recently priced at $0.0483, its price stability suggests room for further growth, with a trading volume of $147.36 million. The coin even sponsored the first-ever E1 Monaco 2024 electric boat race, increasing visibility.

Virtuals Protocol (VIRTUAL)

Virtuals Protocol is transforming the digital landscape with AI-driven agents that enhance social, gaming, and virtual world interactions. Their recent buyback-and-burn campaign, aimed at reducing supply, indicates confidence in future growth. The token’s current price is $1.17, reflecting a slight increase.

BTC Bull (BTCBULL)

BTC Bull’s presale has been a massive success, raising over $2 million in its first week. This innovative project offers investors exposure to Bitcoin’s performance alongside meme coin excitement. Priced at $0.00237, BTCBULL’s strong start promises more potential as Bitcoin continues its upward trend.

Osmosis (OSMO)

Osmosis addresses liquidity fragmentation within the Cosmos ecosystem, allowing smooth cross-chain transactions. The token grew 26.46% in January 2025, now trading at around $0.3443. The collaboration with Omnity Network for improved liquidity and expanded trading options is driving more investor interest.

Raydium (RAY)

Raydium is making waves by providing decentralized liquidity to Serum’s Solana-based ecosystem. In December 2024, it handled over $1.82 billion in trades, outpacing Uniswap’s monthly volume. Raydium’s price is currently $4.62, and it continues to show strong trading activity and liquidity growth.

Today's Crypto Market Recap

Wednesday, February 19, 2025 / No Comments

Bitcoin's Price Movement Raises Concerns

Bitcoin's recent price behavior has sparked discussions about potential market manipulation. Despite substantial institutional investments, the cryptocurrency has remained within a narrow trading range, leading some experts to question the naturalness of this pattern. Samson Mow, CEO of Jan3 and founder of Pixelmatic, remarked that the price action "looks very manufactured," suggesting possible price suppression.

Howard Lutnick Confirmed as U.S. Commerce Secretary

The U.S. Senate has confirmed Howard Lutnick as the Secretary of Commerce with a 52-45 vote. Lutnick, who previously served as CEO of Cantor Fitzgerald—a firm with connections to Tether, a major stablecoin issuer—has expressed a favorable view of cryptocurrencies, particularly Bitcoin. His appointment is expected to influence the Department of Commerce's approach to digital assets.

FTX Schedules Next Round of Creditor Repayments

FTX has announced plans for its next creditor repayment round, scheduled for May 30, 2025. This follows the initial reimbursement phase that began on February 18. Creditors must verify their claims by April 11 to qualify for the upcoming distribution. The recovery plan aims to return at least 118% of the claim value to 98% of creditors, with total distributions estimated between $14.5 billion and $16.3 billion.

Sanctioned Jurisdictions Account for 39% of Illicit Crypto Transactions

A report by Chainalysis reveals that jurisdictions sanctioned by the U.S. Office of Foreign Assets Control (OFAC), including Iran and Russia, received $15.8 billion in cryptocurrency transactions in 2024. This accounts for 39% of all illicit crypto activity that year. The report highlights the use of crypto-mixing services like Tornado Cash, which have been employed to anonymize transactions and evade sanctions.

These developments underscore the dynamic and evolving nature of the cryptocurrency landscape, with ongoing discussions about market integrity, regulatory oversight, and the broader economic implications of digital assets.

VanEck estimates that U.S. state reserve bills could lead to $23 billion in Bitcoin purchases.

Wednesday, February 12, 2025 / No Comments

Proposed legislation in the United States aims to establish strategic Bitcoin reserves at the state level, potentially driving up to $23 billion in demand for the cryptocurrency. An analysis by asset management firm VanEck indicates that if these bills are enacted, state governments would collectively need to purchase approximately 247,000 BTC. This analysis does not account for potential Bitcoin acquisitions by state pension funds, which could further increase demand.

In addition to state-level initiatives, President Donald Trump has directed staff to explore the creation of a national strategic Bitcoin reserve. This move reflects a broader trend of institutional and governmental adoption of Bitcoin as a reserve asset. Currently, over 150 companies are accumulating Bitcoin treasuries, viewing the cryptocurrency as a hedge against inflation.

VanEck's analysis suggests that establishing a national Bitcoin reserve could significantly impact the U.S. national debt. By accumulating 1 million BTC over the next five years, the U.S. could reduce its national debt by approximately 35% by 2049, assuming a 25% annual increase in Bitcoin's value.

While these developments indicate a growing acceptance of Bitcoin as a reserve asset, the implementation of such strategies would require careful consideration of regulatory, financial, and market dynamics. The volatility of Bitcoin's price and its potential impact on financial stability are key factors that would need to be addressed in any legislative framework.

Bitcoin Falls Amid Trump Tariffs Impact

Monday, February 3, 2025 / No Comments

The cryptocurrency market faced a sharp downturn on Monday, with Bitcoin plunging to a three-week low as investor fears over escalating trade tensions rattled global financial markets.

Bitcoin, the world’s leading cryptocurrency, slumped to $91,441.89 overnight before slightly recovering to $95,730.35 by 09:41 GMT, marking a 6.2% decline for the day. Ethereum (ETH) fared worse, shedding nearly 25% of its value since Friday, the steepest three-day drop since November 2022, currently trading at $2,592.14.

The sell-off was triggered by U.S. President Donald Trump’s unexpected announcement over the weekend of sweeping tariffs: 25% on Mexican and Canadian imports and 10% on Chinese goods, effective Tuesday. In response, Canada and Mexico pledged retaliatory measures, while China vowed to challenge the tariffs at the World Trade Organization.

The ripple effects were felt across the crypto landscape, with almost a quarter of the top 100 digital currencies losing over 20% of their value in the past 24 hours, according to CoinGecko. Shares of U.S. crypto exchange Coinbase (NASDAQ: COIN) also dipped 5.5% in pre-market trading.

Even Trump's own cryptocurrency, $TRUMP, launched shortly before his inauguration, tumbled below $20 after previously peaking above $73 in January.

Crypto: A Weekend Risk Proxy

"Cryptocurrencies have become a barometer for investor sentiment, especially over weekends when traditional markets are closed," noted Chris Weston, head of research at Pepperstone. "With heightened geopolitical tensions, crypto serves as a proxy for risk-on/risk-off dynamics."

Despite the broad market decline, Bitcoin outperformed Ethereum, which experts attribute to its perception as a 'safe-haven' asset akin to gold. "Bitcoin's resilience amid this volatility highlights its evolving role as a risk-off asset," said Joseph Edwards, head of research at Enigma Securities.

Disappointment Over Trump’s Crypto Policies

The recent downturn also reflects growing investor disappointment with the Trump administration’s crypto policies. After an initial rally following his election, fueled by hopes of crypto-friendly regulations, many feel let down by the lack of substantial action to support the industry.

Bitcoin had soared to an all-time high of $107,071.86 on January 20, coinciding with Trump’s inauguration, and had risen 40% since his election in November. Although Trump, once a vocal critic of cryptocurrencies, embraced digital assets during his campaign, promising to establish the U.S. as the "crypto capital of the planet," his administration's follow-through has been underwhelming.

"There was significant anticipation for government initiatives to boost crypto adoption, including potential federal Bitcoin acquisitions," said Paul Howard, senior director at Wincent. "While those hopes remain unfulfilled, we believe the organic growth of the sector, supported by a relatively crypto-friendly administration, will eventually outweigh short-term volatility."

Looking Ahead

As global markets brace for continued trade tensions, the crypto sector's next moves will likely hinge on geopolitical developments and investor reactions to fiscal policies. For now, traders are advised to monitor macroeconomic indicators closely, as the digital currency landscape remains highly sensitive to global economic shifts.

Grayscale Launches Dogecoin Trust as Meme Coins Gain Popularity

Friday, January 31, 2025 / No Comments

Grayscale, a prominent digital asset manager, has launched the Grayscale Dogecoin Trust, expanding its range of crypto offerings. Originally created as a joke, Dogecoin (DOGE) has grown to become the eighth-largest cryptocurrency by market capitalization, supported by high-profile endorsements, including that of Elon Musk.

This move follows Grayscale's previous successes with bitcoin and ether trusts, which were later converted to ETFs after regulatory approvals. The Dogecoin Trust, however, remains a private placement, available only to accredited investors, and charges higher management fees of 2.5%, compared to ETFs.

Meme coins like Dogecoin have surged in popularity, especially with the involvement of public figures such as U.S. President Donald Trump, who launched his own meme coin ahead of his inauguration. Despite the regulatory uncertainty surrounding meme coin investments, Dogecoin remains a dominant force in the market, currently up 3% year-to-date and more than 300% over the past year.

Solana Stablecoin Supply Rises 73% Following Launch of Trump's Memecoin

Thursday, January 30, 2025 / No Comments

The Solana blockchain has seen a dramatic surge in stablecoin supply, with a 73% increase since mid-January, largely attributed to the launch of U.S. President Donald Trump's memecoin, $TRUMP.

CCData's latest report, released on January 30, shows Solana's stablecoin supply at $11.1 billion, marking a 112% rise since the beginning of the year. This growth follows a spike in network activity spurred by the memecoin’s launch, which has significantly boosted decentralized exchange (DEX) trading volumes.

As a result, Solana has surpassed BNB Chain to become the third-largest blockchain network by stablecoin supply, though it still trails behind Ethereum and Tron.

The launch of Trump's memecoin on January 18, along with the Official Melania (MELANIA) token a day later, caused a surge of new on-chain users. Moonshot, the platform promoted by Trump for purchasing the token, reported over 200,000 new users joining since the coin’s release.

Despite the hype, Trump's memecoin's fully diluted value (FDV) fluctuated, briefly reaching $80 billion before settling around $26 billion as of January 30.

On Solana, USD Coin (USDC) remains the dominant stablecoin, making up 78% of the supply. Tether (USDT) lags far behind, with a mere 12% share.

In the broader market, USDC has been gaining ground against USDT, driven by concerns regarding Tether's regulatory standing under the European Union's Markets in Crypto-Assets (MiCA) framework.

French Investigators Open Fraud Probe Into Binance

Tuesday, January 28, 2025 / No Comments

Paris, Jan 28, 2025 – French authorities have launched a judicial investigation into Binance, the world’s largest cryptocurrency exchange, over allegations of money laundering, tax fraud, and other charges. The Paris public prosecutor’s office (JUNALCO) confirmed the probe on Tuesday, revealing that it also involves money laundering linked to drug trafficking. The investigation covers alleged offences committed between 2019 and 2024, both in France and across the European Union. Binance has denied the accusations, describing them as outdated and pledging to vigorously contest any charges.

The inquiry began after complaints from users who claimed they lost money due to misinformation provided by Binance. They also alleged that the platform operated without proper regulatory approval. Binance, in a statement, said it had significantly improved its compliance protocols, including stricter anti-money laundering (AML) and Know Your Customer (KYC) measures.

This is not the first time Binance has faced scrutiny. In 2023, French prosecutors launched a preliminary investigation into illegal client canvassing and aggravated money laundering. Globally, Binance has been embroiled in legal battles, including a $4.3 billion penalty in the U.S. after its founder, Changpeng Zhao, admitted to violating anti-money laundering laws. In recent months, Australia’s regulators filed a lawsuit against Binance’s derivatives arm, and the U.S. Supreme Court allowed a case involving unregistered token sales to proceed.

Regulatory bodies like the Financial Action Task Force (FATF) continue to warn about cryptocurrencies becoming safe havens for illicit activities, including terrorist financing. The scrutiny comes as the crypto industry recovers from the 2022 crisis that exposed widespread fraud and led to massive investor losses.

The news has weighed on Binance’s native token, BNB, which fell 2.23% in trading. Despite the ongoing challenges, cryptocurrencies have seen a resurgence in 2024, supported by the pro-crypto policies of the U.S. administration.

China sold $20B in Bitcoin From PlusToken Seizure: CryptoQuant CEO

Thursday, January 23, 2025 / No Comments

The Chinese government has reportedly sold nearly $20 billion worth of Bitcoin (BTC), creating significant selling pressure on the cryptocurrency market, according to Ki Young Ju, CEO of blockchain analytics platform CryptoQuant.

The Bitcoin stash, originally confiscated from the infamous PlusToken Ponzi scheme in 2019, was likely liquidated through cryptocurrency exchanges such as Huobi, as per Ju’s analysis shared on Jan. 23.

"China has already sold 194K Bitcoin, in my opinion," Ju wrote on X, formerly Twitter. He also noted that while the Chinese Communist Party stated the crypto had been "transferred to the national treasury," they did not confirm whether it had been sold. Ju added, "A censored regime holding censorship-resistant money feels unlikely."

Bitcoin’s Resilience Amid $20B Selloff

Despite this massive selloff, Bitcoin managed to hold above the $101,000 mark on Jan. 23. However, Cointelegraph Markets Pro data showed a 3.7% dip in Bitcoin’s price over the previous 24 hours.

Bitcoin’s ability to maintain stability during such heavy selling activity can be attributed in part to institutional interest. BlackRock, the world’s largest asset manager, has been purchasing Bitcoin for five consecutive trading days, according to Farside Investors. On Jan. 21, BlackRock’s Bitcoin ETF made its largest purchase of the year, acquiring $600 million worth of the cryptocurrency.

Market Dynamics

The large-scale sale of Bitcoin highlights the potential impact of government actions on the cryptocurrency market. Ryan Lee, chief analyst at Bitget Research, commented on the market's current state, saying:
"A recent dip and concerns over potential global interest rate hikes have created short-term bearish sentiment. However, institutional buying, particularly from firms like World Liberty Finance, may stabilize prices."

The market is also closely watching developments in U.S. monetary policy. According to CME Group’s FedWatch tool, markets anticipate a potential U.S. interest rate cut in mid-2025, which could influence Bitcoin prices further.

Background: The PlusToken Scandal

The PlusToken Ponzi scheme, which operated primarily in China, defrauded investors of billions of dollars in cryptocurrency. Chinese authorities seized over $4.2 billion worth of crypto, including 194,000 BTC, in 2019. The case has led to the arrest of at least 109 individuals linked to the scheme.

The sale of these assets by the Chinese government marks a significant chapter in the ongoing narrative of regulatory responses to cryptocurrency-related crimes.

For more updates on Bitcoin and global crypto markets, stay tuned to Cointelegraph.

Bitcoin Faces Volatility Amid Trump’s Promises and Economic Uncertainty

Tuesday, January 21, 2025 / No Comments

Bitcoin has seen a wave of volatility recently, largely driven by the actions and promises made by U.S. President Donald Trump. As global economic uncertainty continues to dominate, cryptocurrency traders and investors are closely watching how political developments, particularly those involving trade tensions and economic policies from the Trump administration, could influence Bitcoin’s price movements. Recently, Bitcoin has experienced sharp fluctuations, falling sharply at times and recovering just as quickly, reflecting the market’s sensitivity to geopolitical events and government interventions.

With Trump’s repeated comments on cryptocurrencies and the potential for regulatory action, investors are speculating on how these promises will play out in the long term. Many are concerned about the possibility of tighter regulations, which could impact the overall market sentiment. Additionally, Trump's broader economic policies, including trade deals and fiscal stimulus, are adding to the uncertainty surrounding Bitcoin's future.

As Bitcoin continues to trade under the watchful eye of both traditional financial markets and political developments, traders are anticipating further moves based on potential shifts in government actions. The crypto community is waiting to see whether these promises will lead to new regulations or whether they will spark further growth in the digital asset space. With volatility at heightened levels, investors are being cautious, holding their positions tightly as they await clearer signals from the Trump administration regarding the future of Bitcoin and other cryptocurrencies.

Bitcoin Faces Potential Dip as Inflation Concerns Rise, Experts Predict Lower Prices

Tuesday, January 14, 2025 / No Comments

Bitcoin (BTC) is poised for further declines, according to recent analysis from Steno Research. As inflation concerns continue to loom, risky assets like Bitcoin may experience increased pressure. Since mid-December, Bitcoin’s price has fallen by approximately 10%, moving from all-time highs around $106,000 to current levels around $96,000. Steno Research predicts a potential drop to as low as $85,000 per coin if inflation remains unchecked.

The report highlights that Bitcoin’s sell-off is largely driven by unfavorable macroeconomic conditions, with inflation once again taking center stage. The US Consumer Price Index (CPI) report due on January 15 could further impact Bitcoin’s performance, with expectations for monthly headline price increases of around 0.4%, slightly above consensus estimates.

US dollar strength, driven by more hawkish Federal Reserve policies and potential tariff threats, is also contributing to Bitcoin’s struggles. Lower interest rates typically benefit risky assets like Bitcoin, but current market sentiment remains cautious.

Despite these short-term challenges, Steno Research maintains an optimistic long-term outlook. They forecast that 2025 could be Bitcoin’s most significant year yet, with prices reaching unprecedented highs of around $150,000 per coin. This growth would be supported by favorable regulatory changes, declining interest rates, and strong post-Bitcoin-halving performance trends.

Cryptocurrency Market Outlook for 2025: Growth, Adoption, and Institutional Integration

Wednesday, January 8, 2025 / No Comments

The global cryptocurrency industry is set to experience another year of growth in 2025, with increased institutional recognition and expanding adoption among retail investors. Following the record-breaking performance in 2024, when Bitcoin (BTC) surged to an all-time high of $108,300 in December, the outlook remains optimistic. With regulatory clarity expected under the incoming Trump administration, the crypto space could see more milestones, including further institutional adoption and a new peak in global crypto investors.

Key regulatory developments in 2024, such as Europe’s Markets in Crypto-Assets Regulation (MiCA) bill, have provided clear guidelines for crypto service providers, boosting trust and market integrity. Meanwhile, Singapore has emerged as a leading crypto hub, issuing over 1,600 blockchain patents and licensing 81 exchanges, thanks to its "risk-adjusted" regulation.

According to Jonathan Levin, CEO of Chainalysis, these regulations will drive significant adoption among both institutional and retail investors. “We can expect to see an increase in adoption from institutional and retail investors over the next year, especially as these regulations bring greater clarity to the industry,” Levin stated.

The global crypto user base has already reached an estimated 560 million, representing 6.8% of the world’s population. With current growth rates, Pavlo Denysiuk, CEO of Lunu, predicts that the number of cryptocurrency holders could triple over the next two years, fueled by the increasing use of stablecoins, Bitcoin ETFs, and decentralized finance (DeFi) in regions like sub-Saharan Africa, Latin America, and Eastern Europe.

Institutional adoption is also expected to gain momentum, driven by Bitcoin exchange-traded funds (ETFs), which have made BTC more accessible to traditional financial institutions. The introduction of these ETFs has already resulted in nearly $110 billion in institutional investment, with projections for Bitcoin's price potentially reaching $200,000 by 2025.

In addition, the U.S. Bitcoin Act, supported by Wyoming Senator Cynthia Lummis, proposes the creation of a strategic Bitcoin reserve. This initiative could elevate Bitcoin's status as a valuable savings technology, with some experts predicting its price could surpass $1 million in the future.

Crypto adoption in lower-income countries is also poised for continued growth. In 2024, activity peaked above the highs of the 2021 bull run, with India, Nigeria, and Indonesia leading adoption. In Latin America, El Salvador made headlines by adopting Bitcoin as legal tender in September 2021, generating over $31 million in profit within the first three years. Despite early setbacks, countries in similar economic contexts could follow suit, integrating Bitcoin into their financial systems.

Overall, the crypto space is expected to experience substantial growth in 2025, driven by regulatory clarity, institutional investment, and expanding adoption across diverse global markets.

Binance's Regulatory Approval, Memecoin Trader's Profit, and Floki's ETP Move

Thursday, January 2, 2025 / No Comments

Binance's New Regulatory Approval in Brazil

Binance, one of the largest global cryptocurrency exchanges, has officially received its 21st regulatory approval, this time in Brazil. This is significant as the exchange continues to expand its operations worldwide while ensuring it complies with local regulations. Brazil’s approval further strengthens Binance’s position in the Latin American market, and the country is expected to play an important role in Binance’s overall strategy.

The Memecoin Trader's $3 Million Profit

Meanwhile, in the world of memecoins, an interesting story has emerged. A trader took a very small investment in a memecoin inspired by the popular Pepe the Frog meme and the Gladiator theme, and through some luck, turned that modest stake into a huge profit of over $3 million. The trade has caught the attention of many within the community as an example of how volatility and unpredictability in the memecoin market can lead to massive gains, even from relatively small investments.

Floki Memecoin Community Moves Toward ETP

Additionally, the Floki memecoin community has made headlines with its strategic decision to allocate a portion of its funds to liquidity for an upcoming exchange-traded product (ETP). This is seen as an important move in the memecoin ecosystem, as the community looks to establish more legitimacy and utility for Floki and enhance its presence in the broader financial market.

Conclusion

These events showcase the diverse range of activities and developments within the cryptocurrency space today, from regulatory strides by major exchanges to community-driven initiatives and the unpredictable world of memecoins.

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