Analysis Today TheBitTimes.com

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...

Representatives from the U.S. Securities and Exchange Commission also met with Grayscale on Nov. 20 in the asset manager’s bid for listing a Bitcoin ETF. Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections. Looks like @BlackRock also met with SEC! There’s a couple slides in relation to in-kind vs cash creation. Based on this it looks like BlackRock prefers in-kind for their #bitcoin ETF (makes sense as its probably cleanest structure for them & end investors) h/t @btcNLNico https://t.co/AK0XspL4zJ pic.twitter...

The firm behind the “Crypto Wealth Report” said it received a spike in the number of crypto-related inquiries by millionaires in the last six months. A report released by London-based investment migration consultancy firm Henley & Partners suggests there were more than 40,000 crypto millionaires in the world holding Bitcoin.  According to the "Crypto Wealth Report” published on Sept. 5, Henley & Partners said there were roughly 88,200 millionaires worldwide with crypto holdings, with 40,500 holding Bitcoin (BTC). The report suggested that of 182 individuals who held more than $100 million worth of crypto, 78 were Bitcoiners. In addition, six out of 22 crypto traders who held more than $1 billion “amassed their fortunes from trading Bitcoin.” Crypto wealth statistics. Source: Henley & Partners Fortunly reported there were roughly 56.1 million millionaires on Earth as of July 2023, suggesting less than 0.2% had significant crypto holdings. The CEO of Henley & Part...

As BlackRock reiterates that an optimal investment allocation should include 84.9% BTC, the firm has formed a major investment partnership in India. Global investment giant BlackRock is expanding its reach in India with a partnership targeting the launch of the “digital-first offering” in India. BlackRock, on July 26, officially announced a joint invest ment project with Jio Financial Services (JFS), an arm of Indian tycoon Mukesh Ambani’s Reliance Industries — India’s most-valued firm. The companies each plan to invest up to $150 million in the 50:50 joint venture. Named “Jio BlackRock,” the project aims to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of investors in India, the announcement reads. The venture will utilize BlackRock’s expertise and talent in invest ment management, tech access, operations, scale and market intellectual capital, the announcement said. JFS will in turn contribute to local market insights as well as digital ...

Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill. Bitcoin-related invest ment products appear to have lost some of their sheen among crypto invest ors, recording its first week of outflows since Blackrock filed for spot Bitcoin ETF in June. According to a July 24 report by CoinShares’ head of research, James Butterfill, Bitcoin (BTC) investment products saw outflows of $13 million for the week ending July 21, reversing five weeks of inflows. Short Bitcoin products also saw outflows of $5.5 million in the week. Bitcoin Fear and Greed Index is 50 ~ Neutral Current price: $29,178 pic.twitter.com/T1DMFpsX9p — Bitcoin Fear and Greed Index (@BitcoinFear) July 25, 2023 In contrast, Ethereum (ETH) and XRP (XRP) invest ment products recorded combined inflow of $9.2 million over the last week. Butterfill noted that Ethereum invest ment products were the best performer last week...

Binance assured its users that this change will not impact them in any way, and that their funds will continue to be held in publicly verifiable addresses. Cryptocurrency exchange Binance announced on March 17 that it has replaced BUSD holdings in the Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT). The move comes in response to Paxos' recent decision to stop minting new Binance USD (BUSD), leading to a decrease in BUSD's market capitalization over time.  As Paxos will no longer be minting new BUSD, #Binance has swapped the BUSD in the SAFU Fund for TUSD & USDT. This change will have no impact on users, and the funds remain on publicly verifiable addresses. Funds are SAFU.https://t.co/edLVgpdCUQ — Binance (@binance) March 17, 2023 The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established by Binance in July 2018 to protect users' funds in case of security breaches or other unforeseen events. Binance committed ...

Different from traditional markets, the crypto market has its own set of key questions to consider when analyzing a project and its assets. Fundamental analysis is the process of finding the intrinsic value of an asset, with the goal to determine whether the asset is overvalued or undervalued. That information can then be leveraged along with technical analysis to decide whether to invest in or trade an asset. In cryptocurrency fundamental analysis, the approach is somewhat different than that typically used to evaluate legacy market assets. Crypto assets don’t have the historical data required, because there’s usually no history of earnings reports or profit and loss statements. For cryptocurrency analysis, all the available information on the asset needs to be sought out through research that includes investigating its use cases, its network, the team behind the project, vesting schedules, the list goes on. By looking at the right set of factors, traders can determine the fundamenta...

The remaining workforce is also expected to take 20% pay cuts, the project's founder said. Octopus Network, a decentralized app chain network natively built on NEAR Protocol, has announced that it will be “refactoring” to adapt to current market conditions.  As part of its refactoring process, Octopus network will let go of roughly 40% of its team, which accounts for 12 out of 30 members. The remaining staff will also be subjected to a 20% salary cut, while its team token incentive will be suspended indefinitely. According to Louis Liu, the founder of the Octopus Network, although he has lived through previous crypto winter s, “this winter is very different from the others.” Liu said he anticipates that this current “ crypto winter will last at least another year, perhaps much longer,” adding that “most Web3 startups will not survive.” To survive the crypto winter , the founder also shared that in addition to layoffs and pay cuts, the network will have to undergo a strategy...