Transaction URL: https://whale-alert.io/transaction/algorand/HXBKCLAMPYIRDCVROHBEYO6LLGUUXH7A2GOCTJVQ77RQF3ROQXCQ
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Ethereum core developers continue to grapple with the scope of the forthcoming Pectra upgrade, specifically the inclusion of EIPs related to the EVM Object Format (EOF).
Thursday’s All-Core Devs call was dominated by debate over the feature set due to concerns raised by Geth developer Marius van der Wijden.
In a recent blog post, van der Wijden laid out his case against EOF, concluding that “the drawbacks strongly outweigh the potential benefits.” In his view, the uncertainty around its efficacy, coupled with unknown security implications and other potential risks resulting from complexity, should merit removal.
It’s a bit of a reversal for the developer, who said in February he…
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Hugh Hendry, a renowned investor, has sparked excitement with his prediction that Bitcoin could triple in value, surpassing NVIDIA’s market capitalization. On a recent Yahoo Finance podcast, Hendry highlighted Bitcoin’s relatively small market cap of $1.3 trillion compared to gold at $16-17 trillion and US stocks at $40 trillion, suggesting significant growth potential for the cryptocurrency.
Hendry’s bullish outlook aligns with other experts and comes as Bitcoin shows signs of recovery, with its price up over 4%, crossing $66,300, and trading volume rising 11% to $31 billion. BTC Futures Open Interest has also soared nearly 6%, indicating robust market interest. This optimism is echoed by the growing demand for Bitcoin ETFs, reflecting increased institutional investment in the cryptocurrency.
Hendry emphasized the unique opportunity Bitcoin presents in an overvalued market, drawing parallels to undervalued stocks of the 1980s. He urged young investors to consider Bitcoin for substantial gains, reinforcing the positive sentiment around the flagship crypto’s future potential.
On July 19, 2024, Bitcoin ETFs in the U.S. displayed varied investment trends, reflecting dynamic market movements. BlackRock’s IBIT ETF leads the pack with 325,449 BTC and a significant net inflow of +1,616 BTC, indicating strong investor confidence. In contrast, Grayscale’s GBTC saw a net outflow of -845 BTC, highlighting a shift in investor sentiment.
Fidelity’s FBTC showed positive momentum with a modest net inflow of +44 BTC, holding a total of 178,591 BTC. Meanwhile, ARK 21Shares’ ARKB experienced a notable outflow of -749 BTC, reducing its holdings to 49,318 BTC. These mixed results underscore the diverse strategies and reactions among investors in different ETFs.
Bitwise and Valkyrie remained stable with no change in their net flows, maintaining their holdings at 39,835 BTC and 8,765 BTC, respectively. However, VanEck and Invesco Galaxy experienced slight outflows, with -91 BTC and -13 BTC respectively, suggesting cautious investor behavior.
Overall, the total holdings across these ETFs amounted to 899,251 BTC, with a minor net outflow of -38 BTC, equivalent to a monetary outflow of -$2.49 million. This snapshot provides a clear picture of current investor behavior and market sentiment in the Bitcoin ETF space.
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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Bitcoin Depot, a leading U.S.-based Bitcoin ATM operator and fintech company, has announced plans to allocate a portion of its cash reserves to bitcoin (BTC).
This move underscores the company’s belief in bitcoin as a significant financial asset and a store of value, aligning with the broader trend of institutional adoption of the scarce digital asset.
Bitcoin Depot’s decision to incorporate bitcoin into its treasury strategy is not just a leap of faith but a calculated move supported by recent changes in accounting standards.
The Accounting Standards Update (ASU) 2023-08, effective for fiscal years starting after December 15, 2024, allows companies to record gains held…
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KPMG, one of the Big Four accounting firms, has formed a strategic alliance with Cryptio, a crypto accounting software provider, to help US crypto firms comply with Generally Accepted Accounting Principles (GAAP). This partnership aims to enhance internal controls and streamline digital asset accounting practices.
Brian Consolvo, technology risk principal at KPMG, highlighted the collaboration’s role in meeting regulatory obligations. He emphasized the necessity of strong accounting and reporting practices for digital assets. Antoine Scalia, CEO of Cryptio, noted that their alliance sets a standard for regulated institutions adopting digital assets, aiding in regulatory reporting and audits.
KPMG’s recent survey shows rising institutional interest in crypto, with nearly 40% of institutional investors having exposure to crypto assets in 2023, up from 31% in 2021. The survey also found that one-third of these investors allocate 10% or more of their portfolios to crypto, driven by market maturity and better custody infrastructure.
Cassa Depositi e Prestiti SpA (CDP) and Intesa Sanpaolo have completed Italy’s first digital bond issuance on the Polygon (MATIC) blockchain. The €25 million bond, with a 4-month duration and a 3.633% fixed annual coupon, marks a significant milestone in capital market innovation. This issuance is part of a European Central Bank (ECB) trial exploring blockchain for wholesale fiat money settlement.
Payment for the bond was made using the Bank of Italy’s TIPS Hash Link solution, bridging blockchains and traditional payment systems. Fabio Massoli, CDP’s Director of Admin and Finance, highlighted the importance of this transaction in adopting blockchain for bond issues, establishing a new technological model within the regulatory framework.
Global financial institutions are increasingly tokenizing traditional assets for operational benefits like cost-efficiency and transparency. BlackRock, the world’s largest asset manager, recently launched a digital liquidity fund. Niccolò Bardoscia of Intesa Sanpaolo emphasized that tokenization is setting a new standard for financial market efficiency, impacting all asset classes in the future.