The Liquid Token Fund of Pantera Capital increased its allocations to DeFi tokens during the first quarter of 2024 while decreasing its exposure to Bitcoin and Ether. Solana and other cryptocurrency token investments helped Pantera Capital’s Liquid Token Fund, which claimed a 66% return in the first quarter of 2024. While exposure to tokens linked

According to a cryptocurrency analyst, Bitcoin’s price is unlikely to retrace down to $50,000 anytime soon because to the frequency with which it reaches higher support price levels and the “lack of immediate froth” in the derivatives markets. In an April 7 research note, Dylan LeClair, a senior analyst at digital asset firm UTXO Management,

The halving of Bitcoin is a major attraction for many cryptocurrency traders, but the time of year will present a challenge. To further drive up prices everywhere, the cryptocurrency industry will need to come up with another story. “Although it will have to contend with what is generally a bad time of year for crypto

In contrast to the overall cryptocurrency market, which gained 1.71% on the same day, Dogecoin’s price increased 7.5% to $0.186 on April 6. Dogecoin’s recent price surge is consistent with optimistic trends observed in the top-ranked memecoin, as illustrated below, suggesting that traders are becoming more willing to take on risk. Memecoins are regarded by the market as some of the most speculative investments in the cryptocurrency space because of their lack of intrinsic value or usefulness. Compared to conventional safe-haven investments, this viewpoint places them at the highest danger. Concurrently, the dollar—which has historically been viewed as a stronghold of stability—is losing value in relation to a group of top international currencies. The four-hour chart of the U.S. Dollar Index (DXY) below clearly illustrates this trend. A concurrently developing negative connection between the DOGE and the DXY is shown in the figure, highlighting the fact that the dollar’s depreciation is temporarily enhancing the allure of riskier memecoins, particularly on April 6. An anonymous wallet address ending in…wwKF has acquired a significant amount of DOGE—199.27 million—through two transactions in the previous day, according to recent data made public by Whale Alert.The wallet first bought 100 million DOGE, or $17.77 million, from Robinhood. It then bought 99.27 million coins, or $17.68 million, from the same source in a second transaction. These noteworthy actions attracted a lot of attention right away, which helped DOGE’s price rise swiftly.Nevertheless, there has been a noticeable drop in the number of entities that are considered Dogecoin whales, particularly those that possess more than 100,000 and 1 million DOGE. It suggests that the market may have overemphasized the significance of the accumulation activities at Robinhood. Dogecoin’s price increase has been accompanied by a precipitous drop in the open interest (OI) and funding rate of its perpetual contracts.Notably, from a peak of $2.21 billion on March 29 to $1.38 billion on April 6, the market’s outstanding contract holdings have decreased.It suggests that traders are liquidating their holdings for a variety of reasons, including taking profits, limiting losses, or lowering exposure. As of April 6, its funding rate is 0.0172%, a considerable decrease from its previous peak of 0.106% on the same day last year.This is frequently the case when the market anticipates a price stabilization or decline, or when fewer traders are prepared to initiate or hold long positions. When selling pressure lessens due to traders closing their short positions, the price might climb even with lower trading volume and interest. This is usually shown by declining OI and funding rates combined with rising price.Technically speaking, the 200–4H exponential moving average (200–4H EMA; the blue wave) and an ascending trendline, both located at roughly $0.167, are the sources of DOGE’s current price increase. The bounce off the support confluence is comparable to what DOGE saw on March 19, which came before an 85% increase to $0.22.

As part of their request for his help with blockchain investigations, the US Internal Revenue Service’s Criminal Investigation Unit (CIU) has allegedly subjected blockchain investigator ZachXBT to what he considers to be borderline harassment. ZachXBT stated in a March 6 post on X that he feels the U.S. law enforcement agency has gone beyond his

In a continuing legal battle, one of the biggest cryptocurrency exchanges, Coinbase, has won a big victory. With its decision in favor of Coinbase, the U.S. Court of Appeals for the Second Circuit has confirmed that the secondary sales of cryptocurrencies on its platform do not contravene the Securities Exchange Act. A large countrywide group

Following Coinbase’s announcement that the majority of the money from the GBTC sell-off would “remain within the crypto ecosystem,” a big purchase of Bitcoin was made. According to reports, the bankrupt cryptocurrency lending company Genesis sold over 36 million shares of the Grayscale Bitcoin Trust (GBTC) in order to buy more Bitcoin and get ready

The organisation made clear that users can exchange their bitcoin holdings in virtual worlds like Decentraland and The Sandbox for fiat money on other cryptocurrency exchanges. In a recent report, the US Consumer Financial Protection Bureau (CFPB) specifically targeted cryptocurrency-focused gaming and warned against scams and inadequate consumer protections in video games and virtual environments.

The founder of Fantom, Andre Cronje, saw the Solana network as a victim of its own popularity. Despite the recent network transaction problems, Fantom founder Andre Cronje has expressed support for the Solana network. One of the most important thought leaders in decentralised finance (DeFi) is Cronje. Some critics blame Solana for the continuous congestion,

To counteract the possible effects of the mining incentives drop following the Bitcoin halving, Bitdeer Technologies, a mining partner of the Kingdom of Bhutan, and its sovereign investment arm, the Bhutanese government, will boost their capacity for mining BTC. The investment arm of the Bhutanese royal government, Druk Holding and Investments (DHI), and Bitdeer, a

A ruling from the nation’s lower courts that would have affected Do Kwon, the co-founder of Terraform Labs, being extradited to the US or South Korea has been overturned by the Supreme Court of Montenegro. The Supreme Court of Montenegro said in a notification dated April 5 that it had granted a request for a

The German asset management DWS (DWS) is providing exchange-traded commodities (ETCs) with exposure to ether (ETH) and bitcoin (BTC).The ETCs were created in collaboration with digital asset financial services company Galaxy Digital (GLXY), and bear the Xtrackers trademark of the Frankfurt-based company.According to a DWS announcement, they were listed on the Deutsche Boerse on Thursday. The Xtrackers Galaxy Physical Ethereum ETC and Xtrackers Galaxy Physical Bitcoin ETC products, which have a 0.35% cost, follow the performance of the two biggest cryptocurrencies by market value.That is less expensive than competitors like the Amsterdam-listed Jacobi FT Wilshire Bitcoin ETF (BCOIN) with 1.5% and the Switzerland- and Germany-listed 21Shares Bitcoin ETP (ABTC), which charges 1.49%. Although spot cryptocurrency exchange-traded products (ETPs) have been available in Europe for a while—CoinShares’ Physical Bitcoin ETP, for instance, was listed in 2021, and Zurich-based 21Shares claims to have introduced the first physically backed ETP in 2018—they have gained more attention since the U.S. Securities and Exchange Commission approved a number of ETFs for the largest economy in the world in January.According to BitMEX Research, the U.S. funds have drawn a net influx of over $12 billion in less than three months. In order to create exchange-traded products (ETPs) for European listing, DWS and Galaxy Digital teamed together a year ago. DWS is a financial advisory firm with 896 billion euros ($970 billion) under management.During a conference appearance last month, Leon Marshall, the CEO of Galaxy’s European operations, stated that similar items would be available soon.

Following the continuation of funds to draw billions of dollars from investors, BlackRock (BLK) has added five more authorised participants (APs) to the iShares Bitcoin Trust (IBIT), increasing the total to nine. A prospectus filed with the U.S. Securities and Exchange Commission (SEC) lists the new APs as clearing house ABN AMRO and Wall Street

Following the Federal Reserve’s reaffirmation of caution on the rate of future interest rate decreases, cryptocurrency markets fell along with other risky assets. In a research report published on Friday, Coinbase (COIN) stated that gold has outperformed and that this might help bitcoin (BTC). The research stated, “We think gold’s performance signals an overweighting on

Monochrome Asset Management, an Australian company, revealed on Friday that it has submitted an application to Cboe Australia, a worldwide listing exchange, for a spot bitcoin (BTC) exchange traded fund (ETF). Should it be authorised, Australia’s first bitcoin exchange-traded fund (ETF) that permits direct bitcoin holding would be Monochrome. Two exchange-traded products that give investors

Distributed ledger technology, or blockchain, offers decentralisation, security, and transparency. One of the most revolutionary and disruptive technologies of the twenty-first century is blockchain technology. Governments, corporations, and individuals have all expressed great interest in it because of its potential to establish decentralised, transparent, and secure systems. Blockchain technology is being adopted very slowly, nevertheless,

Approximately three weeks ago, bitcoin reached a record high of $73,500 before rapidly falling to the $61,000 region.Bulls have some hope that new records are on the horizon as it has since retraced to the current $67,600.However, the price correction appears to have more space to run, according to at least one sentiment indicator. According to CryptoQuant, the so-called futures funding rate—which is the amount paid to traders based on the discrepancy between perpetual contract markets and spot prices—is currently at an all-time high.“Funding rates represent traders’ sentiments in the perpetual swaps market and the amount is proportional to the number of contracts,” the group stated.Positive financing rates show that long-position traders are in control and are prepared to provide funds to short-position traders. According to CryptoQuant, positive funding rates indicate that long traders, or those who are betting on higher prices, are in control of the market and are prepared to provide money to short sellers, or those who are betting on lower prices.This high of financing rates was last seen in April 2021.After that, in just three months, Bitcoin fell from above $60,000 to under $30,000. Curiously, the U.S. Commodities Futures Trading Commission (CFTC) recently released data that indicates record short holdings in futures held by hedge funds and commodities trading advisers (CTAs), coinciding with the CryptoQuant study.

Broker Oppenheimer increased its earnings projections for Coinbase (COIN) on Wednesday and stated in a research study that the cryptocurrency exchange is well-positioned to profit from the long-term adoption of blockchain technology. “We estimate that COIN’s 1Q24 trading volume would be up 95% quarter-on-quarter and 107% year-on-year to $300B,” analysts Owen Lau and Guru Sidaarth wrote, noting that the “adoption of digital assets continued after the approval of spot bitcoin (BTC) exchange-traded funds (ETFs) in January.” “More importantly, liquidity in this space has continued to increase,

Google sued purported cryptocurrency scammers, alleging that they had submitted phoney investing apps to Google Play. According to the lawsuit, which was submitted on Thursday to the Southern District of New York, Yunfeng Sun and Hongnam Cheung perpetrated hundreds of wire fraud crimes, “causing harm to Google and at least approximately 100,000 Google users.” The

The seventh-largest stablecoin, FRAX, is backed by Frax Finance, a decentralised protocol that has partnered with asset issuance chain Noble to extend its reach beyond Ethereum into the Cosmos ecosystem, which consists of roughly 80 blockchains. Through Noble, the Frax token (FRAX), a stablecoin backed by cryptocurrencies and tethered to the US dollar, will be

The Monetary Authority of Singapore (MAS) has granted GSR, a cryptocurrency market maker and liquidity provider, a licence as a Major Payment Institution. Currently, GSR is in possession of Singapore’s Digital Payment Token Service licence, allowing businesses to purchase and trade “digital payment tokens,” or cryptocurrency as defined by the government, with the same licence

According to Cathie Wood, CEO of ARK Invest, national currency devaluations worldwide have contributed to bitcoin’s surge to a record high this year.With a surge in demand from spot bitcoin ETFs in the US, Bitcoin (BTC) reached an all-time high of $73,800 last month, up more than 130% over the previous 12 months.In an interview with CNBC, Wood promoted a different storyline, claiming that bitcoin serves as a kind of “insurance policy against rogue regimes and horrible fiscal and monetary policies.” “There is something else going on around the world.” Wood said. “There are currency devaluations taking place that people are not talking about. The Nigerian naira is down 50, 60% in the last nine months. Egypt just devalued by 40%. Argentina, continuing to devalue. I think is a flight to safety taking place, a

Comments on three proposals for ether spot exchange-traded funds (ETFs) are now being accepted by the U.S. Securities and Exchange Commission.A three-week comment period will apply to the ETF initiatives associated with Bitwise, Fidelity, and Grayscale Investments, per notices the agency released on Tuesday “to solicit comments on the proposed rule change from interested persons.” Industry analysts have grown less hopeful that the regulator will follow suit with the products tracking Ethereum’s (ETH) value, despite growing anticipation following the agency’s approval of bitcoin spot ETFs in January.After a significant setback in a legal battle with Grayscale, the commission was compelled to rescind its prior opposition to the bitcoin applications, and SEC representatives contended that its subsequent approval of bitcoin ETFs does not extend to other tokens. SEC Chair Gary Gensler had said in January that the bitcoin approval shouldn’t “signal anything about the commission’s views as to the status of other crypto assets under the federal securities laws.” Investments in that token surged rapidly with the introduction of a stable of (BTC) ETFs. If the agency ever comes to

Due to the continued detention of senior executive Tigran Gambaryan, who is headquartered in the United States, the troubled international cryptocurrency exchange Binance is experiencing more problems in Nigeria. According to a Wall Street Journal article published on April 3, Nigeria has filed more accusations against Binance despite the exchange’s efforts to communicate with regional

Chain-crossing bridge Early adopters of Wormhole’s airdrop will receive 617 million of the company’s recently launched governance token, With a market capitalization of $2.98 billion and a fully diluted value of $16.5 billion, the coin debuted at $1.66 on the Solana-based decentralised exchange (DEX) OpenBook, according to CoinGecko. Following the token’s release, OpenBook went through

Tokenization Wizard is a tool designed to create blockchain-based replicas of physical goods and safely handle stablecoins and various Web3 apps. It was released by GK8, the cryptocurrency custody company that Galaxy Digital purchased a little more than a year ago. Tokenization is becoming more and more popular, and many traditional banking organisations are adopting

Exchange of cryptographic currencies With the introduction of perpetual futures linked to the volatility indices of ether (ETH) and bitcoin (BTC), Bitfinex is enabling traders to wager on anticipated price volatility in the top cryptocurrencies. The ether implied volatility index (EVIV) and the bitcoin implied volatility index (BVIV) of the decentralised derivatives platform Volmex serve

Later on Tuesday morning, 30,175 bitcoins were reportedly transferred from a wallet purportedly owned by the US government to a Coinbase wallet. Roughly $2 billion worth of bitcoin (BTC) would be in circulation at the current price of about $65,000. The authorities, which had seized almost 50,000 bitcoins connected to the Silk Road website in

According to James Check, head on-chain analyst at Glassnode, the crypto bull market is set to enter its second and final phase, marked by exhilaration and dramatic price swings. “We are transitioning from the enthusiastic bull, which is below the all-time high, generally speaking, into the euphoric bull,” he said in an exclusive interview with