AI Drives Tech Rebound, Oil Soars, Bitcoin Tumbles: What’s Driving Markets Thursday? – Applied Mat (NASDAQ:AMAT)

During midday Thursday trading in New York, U.S. stocks displayed mixed performance, with the technology sector outperforming others as investors maintained a bullish outlook on artificial intelligence, temporarily setting aside concerns about interest rates.

Additionally, economic data released Thursday morning revealed a robust labor market, with unemployment benefits registering well below expectations for the last week.

Atlanta Fed President Raphael Bostic stated his preference for the start of the rate reduction cycle in the third quarter, emphasizing the importance of avoiding premature cuts that could reignite demand and price pressures, aligning with recent comments made by his…

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TUSD stability questioned as value dips below one dollar

Stablecoin TrueUSD (TUSD) has dropped below its $1 peg following a massive sell-off.

According to CoinGecko data, the price of TUSD dipped to around $0.97 overnight. It is currently back at $0.98 at the time of writing. 

The price of TUSD initially began to show signs of instability on Jan. 15, following traders selling over $300 million worth of TUSD for USDT on Binance.

Although there have been a few buyers, Binance trading data shows that over the past five days, TUSD has seen net outflows amounting to $279 million.

Ashton Addison, founder and CEO of Crypto Coin Show, told Blockworks that TUSD is currently facing an uphill battle to secure a top spot among other USD-pegged…

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LATEST: BlackRock’s Bitcoin ETF Surpasses $1 Billion Mark in Record Inflows

BlackRock’s Bitcoin exchange-traded fund (ETF), IBIT, achieved a significant milestone by attracting over $1 billion in investor inflows within a week of trading. This makes it the first among the nine new ETFs directly holding cryptocurrency to surpass this threshold. On a single day, Wednesday, investors deposited $371 million into IBIT, pushing it past the billion-dollar mark. Fidelity Investments is also making strides, with its FBTC Bitcoin ETF experiencing a record daily inflow of $358 million and accumulating a total of $880 million in inflows since its recent launch. Notably, BlackRock and Fidelity jointly command 68% of the nearly $2 billion inflows across all nine new ETFs, establishing early dominance in this evolving asset class. Rachel Aguirre, iShares head of US product at BlackRock, notes interest from both day-one retail investors and those new to the asset class.

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The Breakthrough of Bitcoin in Modern Finance

As the world veers towards digitization, Bitcoin emerges as a formidable force, challenging established financial norms. It offers a stark contrast to the volatility and centralized control that often plague stock markets. In lieu of the US dollar, which contends with inflation and a reliance on government backing, Bitcoin stands as a decentralized bastion with a predetermined scarcity, promising a hedge against fiscal erosion.

Real estate investments, once deemed secure, are laden with liabilities such as loans and substantial overheads, not to mention their inherent illiquidity. Bitcoin counters these drawbacks with unparalleled liquidity and lower barriers to entry, thereby democratizing the realm of investment. While gold has historically signified stability, its environmental footprint and divisibility issues are increasingly at odds with contemporary values. Conversely, Bitcoin’s digital nature ensures precise divisibility and mobility, coupled with an increasing shift towards eco-friendly mining solutions.

Bitcoin advocates a new financial ethos, offering high returns, decentralization, seamless transactions, and market independence. It is not merely an asset but a movement towards financial autonomy and inclusivity, heralding a renaissance in the way we perceive and interact with wealth in the digital epoch.

Disclaimer: Market capitalizations and data 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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Top Trending Crypto Coins of The Day

BIGCAP COINS:

  1. Celestia: Market Cap of $2.7 Billion.
  2. Sei: Market Cap of $1.8 Billion.
  3. Solana: Market Cap of $42.5 Billion.

MIDCAP COINS:

  1. Xai: Market Cap of $280 Million.
  2. Myro: Market Cap of $224 Million.
  3. Tellor: Market Cap of $369 Million.

RISING COINS:

  1. Troll: Market Cap of $78.1 Million.
  2. Byte: Market Cap of $18.3 Million.
  3. Pepe: Market Cap of $491 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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Tether Invest $380 Million in Bitcoin by Q4 2023, Boosts Holdings to $2.8 Billion

Tether, the prominent stablecoin issuer, has once again made a splash in the crypto market with a substantial $380 million investment in Bitcoin. This move brings their total Bitcoin holdings to an impressive 66,465 BTC, valued at $2.8 billion. Tether initiated its Bitcoin journey in September 2022 and has been steadily accumulating Bitcoin each quarter since. Noteworthy is their recent acquisition of 8,888 BTC at the close of the fourth quarter of 2023, marking their third-largest purchase to date.

Tether’s CEO, Paolo Ardoino, reiterates the company’s commitment to allocating up to 15% of its profits quarterly to Bitcoin investments. Beyond Bitcoin, Tether is actively engaged in Bitcoin mining and energy production, committing a substantial $500 million investment in these sectors. With a primary focus on the USDT stablecoin, Tether continues to reshape the crypto landscape, solidifying its position as a major player and advocate for Bitcoin.

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Jamie Dimon | 12 Years Of Bitcoin Questions

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Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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Coinbase SEC Case | Bitcoin Is Different

BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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Bitcoin Hashrate Drops By 25%

BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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LATEST: Crypto Market Records Remarkable Growth with $36.6 Trillion Trading Volume In 2023

In 2023, crypto trading volume surged to a staggering $36.6 trillion, marking a significant recovery post-FTX’s 2022 collapse and showcasing the dynamic nature of digital assets. The fourth quarter stood out with $10.3 trillion in trading volume, reflecting a remarkable 53% quarterly growth, attributed to bullish sentiment driven by the anticipated approval of US Bitcoin spot ETFs. Despite the average daily trading volume in Q4 reaching $75.1 billion, the annual figure was nearly $59 billion, trailing 2022 by over 31%.

Heightened optimism in Q4, particularly regarding potential US Bitcoin ETF approval, resulted in a 55% increase in the total crypto market cap, reaching $1.6 trillion. The year saw a remarkable 108% growth in total market cap, driven by Bitcoin’s outstanding performance—a 2.6-fold increase from $27,000 to $42,000 in Q4 alone.

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