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The Grayscale Bitcoin Trust (GBTC) discount is evaporating and the new Bitcoin ETF Token ($BTCETF) has attracted $2 million from traders in the latest two indications that bets on the imminent approval of a spot Bitcoin ETF are piling up. Meanwhile, the founder of Galaxy Digital Holdings, Michael Novogratz, believes that a spot Bitcoin ETF approval will see the Bitcoin price return to its all-time high near $69,000 printed in November 2021. “We will see a pretty successful shift of psychology when the government says you are allowed to buy Bitcoin,” says Novogratz, who expects billions of dollars of new money currently sitting on the sidelines to flood into the market. Bloomberg Intelligence analysts reckon there is a 90% chance of a Bitcoin ETF being approved. It is this expectation that has seen the price of Bitcoin double this year to outperform all other asset classes. The new Bitcoin ETF Token is gaining traction as the only cryptocurr

The Terra Classic (LUNC) price has skyrocketed 83% over the past month. LUNC was able to break above the key resistance level at $0.00011695 and continued to trade above this level at press time. Technical indicators suggested that LUNC may attempt to break above $0.00014915 before rising to as high as $0.0002. Terra Classic (LUNC) has experienced a meteoric rise over the past month. CoinMarketCap data indicated that the cryptocurrency’s value has risen a remarkable 83% in the last 30 days. The bulk of this surge was recorded during the last 7 days, a period which saw LUNC’s value climb more than 61%. At press time, technical indicators suggested it could continue rising. Daily chart for LUNC/USDT (Source: TradingView) LUNC was able to break above the $0.00011695 resistance level in the last couple of days and continued to trade above this mark at press time. If the altcoin is able to close a daily candle above this significant price point, then LUNC may h

Chainlink, a platform compatible with Ethereum and renowned for facilitating decentralized oracles, has been making significant progress in the cryptocurrency market. Currently, the native asset of the network, LINK, is experiencing a trading range above $14. LINK recently surged following its recent collaboration with Vodafone. However, a downfall would soon follow the sudden rise, with LINK slumping in the last 24 hours. Here is our price prediction for December 2023. Also read: Ripple (XRP) Price Prediction: December 2023 Chainlink price prediction for December 2023 LINK has demonstrated remarkable performance throughout this year, positioning itself as one of the top-performing assets. In the past 30 days alone, this altcoin has recorded an impressive 30.4% increase in its price. Despite being -72% below its previous all-time high of $52.70, the prospect of it reaching double-digit values is more attainable than ever before. Also read: Shiba Inu (SHIB) Price Pred

Almost since its inception, the crypto market has been marked by its significant and often sudden price movements. Various crypto currencies have surged by several thousands of percent in mere months before tumbling close to $0 just as fast. Last year, 2022, saw what has largely been termed the “ crypto winter” and significant price drops across the industry – both for giants like Bitcoin (BTC) and the smallest altcoins. This year weaved an opposite story, with most crypto currencies – large and small – experiencing significant price increases. Now, with 2024 fast approaching, many investors and traders are wondering what the new year might bring for the ever-shifting industry and whether the current bullish trend is likely to continue. Will Bitcoin reach $100K in 2024? Multiple bull markets – and even some bear markets – have brought predictions that BTC is about to reach a value of $100,000. In fact, as recently as November 27, the British Standard Chartered Bank unveiled its

On the day that Binance and its founder (CZ) pleaded guilty to federal crimes in Seattle, the crypto industry was stunned. There were endless reasons to be gobsmacked. Why did CZ step foot on US soil at all? How long might he go to prison? How could he and his company afford to pay their multi-billion dollar settlement? Does Binance have distant ties to Jeffrey Epstein? Astute observers were questioning another, perhaps far more important event that day. In an obstinate post to X (formerly Twitter), CZ issued an incredible declaration, “I am proud to point out that in our resolutions with the U.S. agencies they do not allege that Binance misappropriated any user funds .” Journalists blinked twice. One word in that sentence might impact CZ’s civil liberties. Were it not for “resolutions” that post would have been a lie on the very day that he thought he had signed a criminal settlement. It’s not the best idea to mislead the public about a settlement with the US Department of Justi

According to Santiment, Bitcoin’s supply on exchanges has continued to move into self-custody. Santiment revealed that the ten largest Tether exchange wallets hold $15.23 billion, highest in 17 months. The increasing Tether supply on exchanges suggests that whales may be preparing to buy BTC or altcoins. Bitcoin‘s supply on exchanges has continued to move into self-custody as “exchange reputation continues to diminish,” according to Santiment, the market intelligence platform with on-chain and social metrics. At the same time, the on-chain market analytics platform also reported that the ten largest Tether exchange wallets hold $15.23 billion, pushing the exchange buying power to its highest level in 17 months.  #Bitcoin's supply on exchanges has continued moving into self custody, as exchange reputation continues to diminish. Meanwhile, the 10 largest #Tether exchange wallets hold $15.23B, pushing exchange buying power to its highest level in 17 month

Cryptocurrency traders usually consider price the leading index for past analysis and future projections. However, tokenomics and supply inflation can drastically impact the price of any asset, and crypto investors can use the market cap as a demand index to evaluate these effects. In this context, Finbold looked at Ethereum (ETH) tokenomics from a capitalization perspective. Public market data from cryptocurrency indexes can demonstrate the effects of increased supply inflation on Ethereum. We calculated the exact price ETH would trade if it ever hits the all-time high market cap. An inflationary supply requires more demand to maintain its value over time. These two factors determine whether a cryptocurrency’s price rises or falls. Ethereum, with its unique tokenomics design, is a prime example of this dynamic. Ethereum had an all -time high market cap of $575.899 billion on November 10, 2021, according to TradingView ’s CRYPTOCAP index. Meanwhile, Ether trade d for as high as $

Wu Blockchain noted that most tokens recently listed on Binance are only available for futures trading.  Tokens mentioned include KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENFI, and ETHW.  The journalist said adding a token for futures trading is less complicated than adding for spot trading. The world’s leading cryptocurrency platform, Binance, appears to have adopted a different approach to listing tokens and making them available to users on its platform.  Noting these changes, reputed crypto media Wu Blockchain, in a recent tweet on X, highlighted a number of tokens listed on the crypto exchange for futures but not for spot trading. The tokens mentioned were KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENFI, and ETHW.  According to the post, this new approach has been noticed in many of Binance’s recent token listings. On why the exchange is taking that approach, Wu Blockchain said, “ Analysis pointed out that the core reason is that this can earn fees with

SpendTheBits founder Jaskaran Kambo says achieving retail adoption of XRP is difficult.  The founder says running a multi-currency wallet on XRPL will bring about $15 CAD in customer acquisition costs.  XRP price has edged higher in the past 24 hours as of writing. In a recent X post, Jaskaran Kambo, founder of the XRPL-based crypto payment app SpendTheBits, highlighted the challenges in achieving the retail adoption of XRP.  Referencing a June post from a prominent XRP community member, Kambo explained that running a multi-currency wallet is expensive.  “Activating a multi-currency (BTC, CAD, USDC) wallet comes with an approx. customer acquisition cost of $15 CAD, considering current $XRP price,” he tweeted. In the referenced post, Panosmek argued that the original vision for XRP was to be an open payment system and a P2P credit network for people. He added that contrary to widespread opinion in the community, the token wasn’t built for banks.  “It’s

Greed, irrationality and anxiety have contributed to chaos in the crypto market. Investors should work on self-improvement if they want the industry to succeed. In 2021, it seemed as if 10 new Disneys — and the next 20 Picassos — were emerging from blockchain and various nonfungible token (NFT) collections. Exorbitant NFT values that year signaled strong belief in many projects. But two years later, those “next Disneys” have delivered little. The situation has created significant market frustration and disillusionment among investors and enthusiasts alike. Project failures are often attributed to founders. Yet, the greed, anxiety, and irrationality prevalent among Web3 participants have also played a substantial role in the ecosystem. Related: 3 theses that will drive Ethereum and Bitcoin in the next bull market We’re in a complex environment where even the most skilled and visionary founders find it challenging to navigate the market dynamics. This often leaves a trail of unfinished

Nov 27, 2023 at 10:20 // Price Author Coin Idol The price of Bitcoin (BTC) has remained stable above the moving average lines. The largest cryptocurrency is currently on the retreat after being rejected on November 24. Bitcoin (BTC) Price Long Term Prediction: Bullish Resistance at $38,000 has slowed the upward momentum of the Bitcoin price. However, the market reached a high of $38,437 before retreating. The cryptocurrency has returned to its previous trading range of $35,400 to $38,000. In other words, at the time of writing, the BTC price is worth $37,211. On th

Terra Classic (LUNC) has witnessed an impressive surge of 97.22% over the last 30 days, a significant increase from its October 27 price of $0.0000646, which has prompted investors to set their sights on the $0.10 mark. In the most recent 24-hour period, LUNC, the native token of the troubled Terraform Labs, experienced a substantial 54.23% spike in value. This surge comes amid the recent news of the possible extradition of the former CEO of Terraform Labs, Do Kwon, from Montenegro to either South Korea or the USA. Along with its price gains, Terra Classic’s market cap experienced a significant increase, which at press time stood at $718 million, which is an increase of $270 million or 54.57% from the $448 million it stood at seven days ago, according to the latest information obtained by Finbold from the cryptocurrency monitoring platform CoinMarketCap on November 27. Terra Classic 7-day market cap chart. Source: CoinMarketCap Recent developments surrounding Terra Classic Previ

The Monetary Authority of Singapore (MAS) has taken a step in shaping the future of crypto currency within its borders, introducing a set of regulations aimed at safeguarding consumers. In response to the growing influence of cryptocurrencies, MAS has released the final tranche of regulations for Digital Payment Token (DPT) service providers, addressing concerns related to business conduct, consumer access, and technology and cyber risk management. MAS has outlined specific measures to guide DPT service providers in conducting business responsibly. These include identifying and mitigating conflicts of interest, establishing transparent criteria for DPT listings, and implementing effective procedures for addressing customer complaints and disputes. The move reflects a commitment to ethical business practices within the crypto sphere. To mitigate the risks associated with cryptocurrency speculation, MAS mandates DPT service providers to assess a customer’s risk awareness, refrain fr

The Cosmos community has passed the proposal to reduce ATOM’s inflation rate to 10%. The proposal boasts 41.1% of supporting votes and 31.9% of opposing votes. By reducing ATOM’s inflation rate from 14% to 10%, the community envisions reducing the annual interest rate for stakers. According to recent reports, the Cosmos community has agreed with the proposal to reduce ATOM’s inflation rate to 10%, with a majority of 41.1% supporting the scheme. The proposal intends to limit the inflation rate of ATOM from 14% to 10%, which in turn brings the Staking APR from 19% to 13.4%. Source: mintscan Chinese crypto reporter Colin Wu, shedding light on the Cosmos community’s positive response to the proposal entitled “ATOM Production Reduction: Proposal to Set the Maximum Inflation Rate to 10%”, shared a post on Wu Blockchain X page. While the community’s support is evidenced by 41.1% votes, the opposition rate lies just behind, with 31.9% votes. The Cosmos Hub c

Demand for FTT increased after the U.S. DOJ sanctioned Binance, leading to a 30-day high. With strong support at $2.94, FTT may retest $4.76 if sellers halt profit-taking. The 9 EMA needs to crossover the 20 EMA to confirm the short-term uptrend. The value of FTX Token (FTT) has increased by 276% in the last seven days, according to data from CoinMarketCap. The price increase could be linked to the widespread jump in altcoin value since October. However, demand for FTT increased again around November 21, as indicated by the FTT/USD 2-hour timeframe. Riding on Binance Challenges The increase in demand was fueled by U.S. DOJ sanctions on Binance. One reason why FTT positively reacted to the development around Binance was because the CZ formerly led-exchange had a hand in its 2022 collapse as FTX was Binance’s fiercest competitor at that time.  Like the FTX crash period, Binance has recently experienced a surge in outflows as Coin Edition previously repo

The Bitcoin price smashed through $38,000 after BlackRock met with the US Securities and Exchange Commission (SEC) to talk about its ETF application as the odds on approval rise and new cryptocurrency the Bitcoin ETF Token raises north of $1.5 million. The Bitcoin ETF Token is the ideal investment vehicle for playing the exchange-traded fund (ETF) theme that is gripping the crypto market. Investors have poured $1,577,000 million into the ICO, currently priced at $0.0058. $BTCETF is at stage 5 of its 10-stage presale.  There are only three days to go before the price rises to $0.0060, although this stage could sell out sooner as there is only $500,000 to raise before stage 6 begins. Although false starts on erroneous reports that a BlackRock spot Bitcoin ETF had been approved and that the same asset manager was planning to issue a spot XRP ETF, were unwelcome reminders of the relative immaturity of the crypto market, it reminded everyone that the bulls