An altcoin bull run would first require Bitcoin to break out from its current range, according to Nansen’s principal research analyst.
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- Crunch
- Global
Eclipse founder and CEO Neel Somani said he would “work to clear my name and defend myself” and will move away from a public-facing role at the firm.
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“I do think it hits that number and goes beyond,” said the Twitter co-founder on his million-dollar Bitcoin prediction.
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Analysts at Deutsche Bank also argued Tether’s solvency status is “questionable” which the stablecoin firm said is “ironic” considering the bank’s own history with fines.
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Traders will be closely watching how Bitcoin’s weekly chart closes on May 12 to look for signs of the end of the downtrend.
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Base is already home to 46% of transactions related to SocialFi on-chain, but the asset manager says it has even more room to grow.
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Binance hits back at claims it fired investigator who found manipulation, Hong Kong crypto ETFs take the “equivalent” of $50B. Asia Express.
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Digital Currency Group (DCG), the powerhouse behind asset manager Grayscale, has seen its first quarter revenue soar by 11% to $229 million. Grayscale contributed a significant $156 million, maintaining its revenue despite facing stiff competition and fee reductions post its transition to an Exchange Traded Fund (ETF). The recent spike in bitcoin and ether values has bolstered DCG’s financial performance, with the company expressing that outcomes for its Grayscale Bitcoin Trust (GBTC) exceeded expectations.
Further boosting investor confidence, DCG revealed a substantial 51% year-over-year revenue increase. This growth coincides with record-breaking bitcoin prices and the U.S. approval of Grayscale’s GBTC and spot Bitcoin ETFs. Such regulatory milestones have painted a favorable picture for the crypto industry, demonstrating a robust start to 2024 for DCG.
Despite challenges like substantial outflows and higher fees relative to its peers, Grayscale is adapting by proposing a new Grayscale Bitcoin Mini Trust ETF. This move, pending U.S. Securities and Exchange Commission approval, aims to offer bitcoin exposure at reduced costs, aligning with investor interest in more economically efficient crypto investment vehicles.
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Politically themed memecoins defy the crypto market’s drab performance by rallying in excess of double-digit gains.
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