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Coin Trading News: Essential source for crypto market news & analysis. Stay ahead with updates on Bitcoin and altcoins. Admin 📩 @nftmaxcoll"
💰 MicroStrategy stock's big premium to bitcoin holdings defended by analyst as ‘intelligent leverage’
The growing premium at which business intelligence firm and corporate bitcoin holder MicroStrategy (ticker: MSTR) shares trade relative to their net asset value (NAV) is not something to fear, according to Benchmark. Currently at 2.3x, the premium hit a three-year high of 2.7x earlier this month, sparking debates among observers who argued that the stock should align more closely with the company's bitcoin holdings.
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🧊 Canary Capital seeks approval from SEC for a spot Litecoin ETF
Canary Capital filed a registration statement with the U.S. Securities and Exchange Commission for a Litecoin exchange-traded fund, days after doing the same for an XRP product. The crypto investment firm filed an S-1 registration statement on Tuesday for the Canary Litecoin ETF. The fund seeks "to provide exposure to the price of LTC held by the Trust," according to the filing. A custodian and administrator were not named.
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GM ☕️ Crypto Telegram!
🔥 Friday $15 Solana Giveaway! 🔥
Join the fun!
Just like and retweet the post below to enter:
⏰ 24 hours left to participate!
Wishing everyone an amazing and powerful start to their Friday! 💪
Link to the giveaway:👇
https://x.com/Crypto_Inside_/status/1844608026168238144?t=rx8AoaTTjD6JIB0ScVV9lA&s=19
💰 Bitfinex deemed ‘sole victim’ eligible for recovery of $7.4 billion Bitcoin hack
A new US government filing suggests that Bitfinex may be the sole entity eligible for restitution in connection with the 2016 hack that resulted in the theft of approximately 120,000 BTC. Bitfinex’s LEO token jumped 14% to $6.85 following the release of the documents.
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🇧🇷 Experts Fear Cryptocurrency Outflows May Affect Exchange Rates in Brazil
Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank of Brazil indicates that crypto assets and recreational services account for $14.7 billion that flowed out of Brazil through August, hinting at the use of virtual assets as payment tools.
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💰 Mass Liquidations Impact Over 100,000 Traders Amid Crypto Market Downturn
Bitcoin’s price briefly dipped to an intraday low of $59,860 shortly after 9 a.m. EDT on Oct. 3, 2024. As of 1 p.m., the cryptocurrency is trading above the $60,000 mark, though it continues to face challenges in maintaining this key psychological level.
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🪙 Ethereum Liquid Staking Hits 14M ETH Milestone, Adding 1.77M in 2024
According to recent data, more than 14 million ether (ETH) is now locked in liquid staking derivatives (LSD) protocols. Over the past 12 days, the amount of ETH deposited into these platforms nudged upward by 0.643%, bringing the total to 14.08 million ETH.
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🔵 Base’s total value locked crosses $2 billion for the first time amid sustained user activity
Base, a Layer 2 Ethereum network incubated by Coinbase, has seen its total value locked cross the $2 billion mark for the first time, positioning it as the second-largest optimistic rollup by deposits after Arbitrum. According to DeFiLlama data, Base’s TVL stands at $2.08 billion, up from about $430 million at the start of the year, marking a 370% growth year-to-date
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💰 Friday's end-of-month #bitcoin options expiry could trigger significant market volatility: Deribit
September’s end-of-month bitcoin options expiry, the second-largest in open interest on the exchange, could lead to significant market volatility, according to Deribit CEO Luuk Strijers. "The end-of-month September bitcoin options expiry is the second largest in open interest we currently have on Deribit. Friday's upcoming options expiry that will see over $5.8 billion expiring could trigger significant market activity and volatility after the expiration," Strijers said in an email sent to The Block.
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🇺🇸 BNY Mellon moves closer to offering #crypto ETF custody services: Bloomberg
America's oldest bank, BNY Mellon, is drawing closer to offering custodial services to exchange-traded fund clients, according to Bloomberg. The progress towards being in a position to offer the services comes "after a review enabled the company to avoid treating the assets as a balance-sheet liability," said the report.
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💰 Woman Sentenced to 8 Years in Prison After Failed Bitcoin Murder-for-Hire Plot
A woman has been sentenced to over eight years in prison after her murder-for-hire plot using bitcoin fell apart. Melody Sasser attempted to use the dark web to hire a hitman to kill an Alabama resident. She paid nearly $10,000 in cryptocurrency and tried to make the murder look like an accident. Authorities discovered incriminating evidence in her home, leading to her arrest and conviction.
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- 🔗 In-Depth Analytics: Powerful blockchain insights.
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Join our vibrant community and stay updated with our active Twitter feed. The only news source you need!
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💰 KPMG calls for stronger custodial practices to boost Bitcoin adoption
Global accounting firm KPMG believes that strong custodial practices are key to boosting Bitcoin (BTC) adoption among institutions and businesses. According to its recent report titled “The Importance of Custodians in Bitcoin Adoption and Ownership,” custodians play a crucial role in safeguarding Bitcoin holdings and are vital for the industry’s growth.
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🪙 Vitalik Buterin’s ‘Surge’ plan aims for exponential Ethereum growth with 100,000 TPS
Ethereum co-founder Vitalik Buterin has outlined his vision for the next phase of the network’s evolution, known as “The Surge.” In an Oct. 17 blog post, Buterin shared critical objectives for this phase, aiming to achieve over 100,000 transactions per second (TPS) across Ethereum’s mainnet and layer-2 solutions. He also emphasized the importance of improving interoperability between layer-2 networks while preserving the decentralization and robustness of the blockchain’s mainnet.
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🔵 Arbitrum DAO member proposes $120 million recall from gaming fund that missed deadlines
A proposal passed in June by the governance DAO Ethereum Layer 2 network Arbitrum to "catalyze gaming ecosystem growth" on the network has recently been met with scrutiny following an apparent lack of communication and several missed deadlines, prompting one DAO member to propose a recall of its funding. Arbitrum's Gaming Catalyst Program (GCP) was passed in June of this year after being unveiled in March, The Block previously reported, and aims to "immediately expand awareness and adoption of Arbitrum/Orbit/Stylus by builders and players in the Gaming community."
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💰 Bitcoin dips toward $60,500 amid unexpected core inflation rise, overall YoY declines to 2.4%
Bitcoin remained above $60,500 after US inflation data released today showed higher-than-expected figures. The Core Inflation Rate year-over-year for September rose to 3.3%, surpassing the consensus estimate of 3.2%. Monthly core inflation increased by 0.3%, exceeding the forecasted 0.2%. Overall inflation rose by 0.2% month-over-month, with an annual rate of 2.4%, slightly above the expected 2.3% but still down from last month’s 2.5%.
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💰 Bitcoin's potential 'melt-up' to $80,000 outlined by Bitwise CIO
Matt Hougan, CIO at crypto asset manager Bitwise, said the U.S. election outcome, the economy and no major crypto industry surprises are the three primary factors impacting the chances of a bitcoin “melt-up” above $80,000 this quarter. At the end of 2023, Bitwise predicted bitcoin would double from $42,400 at the time to above $80,000 by the end of this year, citing spot Bitcoin exchange-traded fund approvals in the U.S. and Bitcoin’s fourth halving event as catalysts.
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💰 Bitcoin whale's transfers of BTC mined in 2009 to Kraken hits $3.6 million: Arkham
An older Bitcoin whale has transferred a total of $3.6 million worth of to Kraken, according to Arkham Intelligence. "A Bitcoin whale holding over $72.5 million [of] Bitcoin from 2009 has sent a total of $3.58 million [of] BTC to Kraken with their most recent movements yesterday," the blockchain analytics platform posted to X on Friday. "This Bitcoin was mined one month after Bitcoin’s launch in Feb/March 2009."
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🇯🇵 Japan’s Metaplanet buys additional $6.9 million in bitcoin, bringing total holdings to $32 million
Japanese investment firm Metaplanet Inc. announced today that it purchased an additional 107.913 bitcoin worth about 1 billion yen ($6.9 million), as the company remains bullish on the world’s largest cryptocurrency. The Tokyo-listed firm said that it made the latest purchase at an average price of 9.26 million yen ($64,168) per bitcoin. This brought its total bitcoin holdings to 506.745 bitcoin, worth about $32.2 million at current price.
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🇺🇸 Ohio senator introduces bill to legalize Bitcoin, crypto payments for state taxes, fees
Ohio State Senator Niraj Antani introduced legislation aiming to legalize Bitcoin (BTC) and other crypto payments for taxes and fees in the state of Ohio and its local political subdivisions. The bill — introduced on Sept. 30 — permits Ohioans to use digital assets, including Bitcoin, to fulfill their state and local tax obligations, pushing the state toward wider adoption of crypto in government transactions.
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💰 Bolivian crypto transactions soar after lifting Bitcoin ban
According to a report from the Central Bank of Bolivia (BCB), virtual asset transactions in Bolivia more than doubled in the last three months after the country lifted its ban on Bitcoin in June. Between July and September, the average monthly trade volume soared to $15.6 million, compared to $7.6 million in the first half of the year. This sharp rise brought the total transaction value for the quarter to $46.8 million, surpassing the previous six months.
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🪙 #Bitcoin miner Hut 8 expands AI push with new 'GPU-as-a-Service' cluster
Hut 8 announced Thursday that it has started generating revenue from its new GPU-as-a-service offering, which rents out GPU computing power to clients. The service, which supports high-performance tasks like AI processing, became fully operational with the launch of its first GPU system for an artificial intelligence cloud developer as the bitcoin miner seeks a strategic expansion beyond cryptocurrency mining.
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💰 #Bitcoin finds support near active realized price level mirroring early 2021 bull run
The active realized price serves as a significant indicator of market performance. Over the past five years, it has functioned as a critical support or resistance level, with Bitcoin’s price frequently oscillating around this metric. Key observations from 2019 to 2024 include periods of overvaluation during market peaks, such as in 2021, when Bitcoin’s price surged above the active realized price, reflecting heightened investor energy.
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🇨🇳 China persists as 💰 #Bitcoin mining giant despite crypto ban – CryptoQuant
China continues to control 55% of the global Bitcoin network’s hashrate, despite a ban on crypto mining and trading that has been in effect since 2021. According to CryptoQuant data, the country’s significant presence in Bitcoin mining persists, but its dominance is now being challenged as other countries, such as the US, increase their share of hashrate.
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🇺🇸 Judge dismisses Consensys lawsuit against SEC over MetaMask and Ethereum claims
A U.S. district judge has dismissed a case brought against the Securities and Exchange Commission by blockchain and web3 development company Consensys Software Inc. Judge Reed O'Connor in the U.S. District Court for the Northern District of Texas in the Fort Worth Division dismissed Consensys' claims and sided with the SEC on Thursday.
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💰 Hut 8 expands Bitmain partnership with launch of next-gen ASIC miner, boosting hash rate by 80%
Bitcoin miner Hut 8 Corp. announced Thursday the expansion of its partnership with mining rig manufacturer Bitmain Technologies with the launch of the U3S21EXPH, a next-generation ASIC miner. Hut 8 plans to deploy the model in the second quarter of 2025 through a 15 exahash per second hosting agreement leveraging custom data center infrastructure developed in-house.
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🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years.
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