LATEST: Michael Saylor Believes Bitcoin the Key to Economic Immortality

During a podcast with Bitcoin enthusiast Robin Seyr, MicroStrategy’s Executive Chairman Michael Saylor shared his visionary outlook on Bitcoin, describing it as a conduit to “economic immortality.” Highlighting the transient nature of corporations, Saylor believes Bitcoin could significantly extend their lifespan beyond the typical 10 years, potentially achieving perpetual existence. He equated the infusion of Bitcoin into economics to the impact of scientific advances on reducing mortality rates, envisioning a future where capital can be as programmable as code, allowing seamless global transactions.

Saylor emphasized Bitcoin’s role as pure digital capital, poised to revolutionize how individuals, corporations, and nations handle money. Drawing parallels with significant scientific advancements, he suggested that Bitcoin’s integration into the economy could foster unprecedented economic growth and stability.

The potential for widespread Bitcoin adoption in China, especially with talks of a Bitcoin ETF in Hong Kong, underscores its transformative impact. Saylor’s perspective, colored by his own strategic investments in Bitcoin, views the cryptocurrency not just as a financial asset but as a cornerstone for a new economic paradigm.

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NEW: Ethereum Hits Three-Month High with 617,170 Active Addresses

Ethereum’s activity is on the rise, marked by a significant increase in active addresses on the network. Recent data highlights a peak of 617,170 active ETH addresses—the highest in three months, suggesting a bolstered engagement and growing interest in the Ethereum blockchain. This surge is seen as a positive indicator of the platform’s utility and potential upward movement in its market value.

Further analysis reveals that Ethereum’s Market Value to Realized Value (MVRV) ratio is also climbing, outpacing that of Bitcoin. This metric, used to gauge the fairness of a token’s price, indicates that Ethereum could be undervalued, enhancing its appeal to both investors and users of the DeFi ecosystem.

These developments come amid increased scrutiny and interest from the legal front, reinforcing the notion that Ethereum is not only enduring key resistance levels but also attracting significant confidence and investment potential. This uptick in both user activity and financial metrics could presage a forthcoming price rally in the crypto market.

 Data 

Funding Roundup: A Web3 recruiting network announces $10M raise

It was a quiet week on the funding front, with only a handful of announcements coming out. 

Web3 recruiting network Bondex announced earlier this week it raised $10 million across rounds. According to a press release, venture capitalist firms Animoca Brands, Morningstar and Chainlink all participated in the rounds. 

The firm seeks to shift “incentives and demand away from middle men to reward and empower users […]” and “change the professional networking model so that the talent participates in the upside and economics of the social network they are bringing value to,” according to the press release. 

Bondex “gamifies” recruitment for both companies and job seekers by…

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Top Trending Crypto Coins of The Day

BIGCAP COINS:

  1. Bitcoin: Market Cap of $1.2 Trillion.
  2. Pepe: Market Cap of $4.7 Billion.
  3. Toncoin: Market Cap of $18.8 Billion.

MIDCAP COINS:

  1. LayerZero: Market Cap of $729 Million.
  2. Biaoqing: Market Cap of $23.9 Million.
  3. zkSync: Market Cap of $643 Million.

RISING COINS:

  1. MAGA: Market Cap of $112 Million.
  2. Mog Coin: Market Cap of $440 Million.
  3. PeiPei: Market Cap of $47.7 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Check Out the Top Crypto Gainers of the Day

$1M – $10M MarketCap:

  1. Art de Finance (ADF): 214%
  2. Laika AI (LKI): 28%
  3. Dechat (DECHAT): 24%
  4. Argentine Football Association Fan Token (ARG): 21%
  5. Trog (TROG): 20%

$10M – $100M MarketCap:

  1. Daddy Tate (DADDY): 41%
  2. Lifeform (LFT): 32%
  3. Multibit (MUBI): 26%
  4. Parcl (PRCL): 25%
  5. GameStop (GME): 24%

$100M – $1B MarketCap:

  1. Rats (RATS): 68%
  2. Mog Coin (MOG): 29%
  3. Popcat (POPCAT): 19%
  4. Resistance Dog (REDO): 18%
  5. Vanar Chain (VANRY): 23%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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LATEST: Chicago Mercantile Exchange (CME) Now Leading in Bitcoin Futures Trading

The latest data from CoinGlass reveals that the Chicago Mercantile Exchange (CME) now stands as the largest platform for Bitcoin futures trading. The total open interest on CME’s platform has surged to $10.1 billion, outpacing other major exchanges in the cryptocurrency futures market.

Binance follows as a close competitor with an open interest of $7.55 billion, demonstrating a robust market presence. Other notable exchanges like Bybit and Bitget also show significant trading volumes, holding $5.57 billion and $3.94 billion respectively. This reflects a growing interest and increased liquidity in the cryptocurrency futures sector.

This shift towards larger open interests in established exchanges like CME indicates a maturing market where traditional financial institutions are increasingly participating. It also highlights the broader acceptance of cryptocurrencies as legitimate financial assets by both retail and institutional investors.

CoinGlass