The FTX collapse may be proof that in the wild west of ... - cyptoranking.com

2024-04-28

Popular crypto exchanges(2023 Update) 2024-04-28
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In a push to solidify its global footprint, Gemini, a leading crypto exchange, has enlisted the expertise of former Paytm Vice President Sachin Ranglani to spearhead its expansion in India. Many barriers are currently in place to keep institutional investor hands off crypto, but that will change, says Yusko. “No one’s going to be able to say no,” he says, “not UBS, not Merrill Lynch, no one.” The FTX collapse may be proof that in the wild west of ...Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether (ETH) cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization. The Ethereum network is tailored for scalability, programmability, security, and decentralization, attributes that make it popular among developers. Last week, as a guest on Impact Theory with Tom Bilyeu, Hayes made the case for why he believes Bitcoin (BTC) price will hit $750,000 to $1 million by 2026.

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Meanwhile, Tether said last month that it has resumed lending out USDT to customers.Cardano (ADA) Regains Top Spot in Development Activity, According to Crypto Analytics Firm Santiment This sizable Wintermute transfer highlights the active and dynamic nature of the cryptocurrency ecosystem, with traders and institutions making substantial moves to optimize their holdings and strategic positions. Wintermute’s decision to deposit such a substantial amount of OP tokens into Binance signals confidence in the platform and suggests a strategic move to leverage the exchange’s capabilities. What is the fee for buying ETH?The Proof of Play team includes members from several large gaming and web companies, including Epic Games, Zynga, EA, Activision and Google. General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Ethereum vs Bitcoin: Use Cases, Technical Differences, Scaling Issues

This initiative aims to raise funds to support Israeli citizens who have been displaced and are in need of humanitarian aid due to the escalating conflict with Hamas. ETHE has about $5 billion in assets under management. The trust’s shares were trading at about a 31% discount to its net asset value on Friday, according to YCharts.com. Crypto exchange BitMEX overhauls management after U.S. criminal chargesFTX Advisor Kumanan Protects $400M Assets Lower operational costs

On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. In fact, in May 2023, BeInCrypto reported that the Australian blockchain-based startup Everledger was wrapping up operations due to a lack of funding. Earlier this month, the blockchain data firm Chainalysis laid off 15% of its staff citing market conditions. How To Buy Dogecoin On Robinhood? A Simple Guide For BeginnersWith Ethereum price heading south, investors are growing impatient, evidenced by the growing chatter around the Proof-of-Stake (PoS) token. One of the largest projects so far to come out of the disaster is Crypto Aid Israel, a campaign led by many Israeli crypto firms which accepts crypto donations to help citizens who have been affected or displaced by the ongoing war.

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