In Brief Putin criticizes Biden’s policies for undermining US dollar’s global reserve currency status. Sanctions and political use of USD lead to de-dollarization, with Russia shifting to yuan and ruble. Amidst US debt concerns, Bitcoin gains traction as a potential safe haven and investment. Russian President Vladimir Putin has leveled a severe warning against the…
Read more
In Brief Crypto markets reach highest levels in two years, nearing $2 trillion cap, with Bitcoin topping $50,000. This bull run aligns with the start of a Fed easing cycle, and the market maintains a “buy the dip” mentality. Crypto market evolution includes emerging narratives, such as AI hype and RWA tokenization, driving wealth creation.…
Read more
Super Bowl LVIII will feature a small selection of AI ads, while crypto-related firms seem to have forgone marketing during the event this year. Microsoft is set to advertise its popular artificial intelligence product, Copilot, during the Super Bowl LVIII on Sunday, Feb. 11, according to a Feb. 7 blog post. Microsoft executive Yusuf Mehdi said: “This…
Read more
In Brief The Pudgy Penguins NFT collection’s floor price hit a new all-time high of 21.7 ETH, indicating a significant rise in market value and popularity. This milestone reflects increasing investor confidence in NFTs as a viable asset class, with Pudgy Penguins’ market cap reaching $484,652,037. Originating from 150 hand-drawn traits, these 8,888 unique NFTs…
Read more
In Brief FTX plans to sell CoinList, a subsidiary, for $500,000, one twentieth of its original acquisition cost. Alvarez & Marshal deemed the sale price fair, considering market conditions and licensing agreements. Previously CoinList had to address financial concerns, denying liquidity issues despite past technical difficulties. In a court filing, FTX announced its intention to…
Read more
Market dynamics shift as Bitcoin approaches crucial 2024 supply halving. Quick Take The imminent halving event for Bitcoin in April 2024 will slash monthly issuance from 27,000 BTC to approximately 13,500 BTC and bring daily rewards down from 900 to 450 BTC, giving Bitcoin an inflation rate of less than 1%. Detailed analysis of individual cohorts…
Read more
In Brief The Shiba Inu burn rate reached a new high, with 191.69% increase in 24 hours ending on Feb. 9, 2024, burning 7.65 billion SHIB. The SHIB token price is up by 3.30% in the past week and 0.9% in the past 24 hours, trading at $0.000009427 amidst recent burns. New registrations in the…
Read more
In Brief Ethereum’s Dencun upgrade is set to significantly improve blockchain efficiency and scalability, with a launch date of March 13. Transaction fees on Ethereum’s Layer 2 solutions are expected to decrease by at least 10 times, enhancing cost-effectiveness. Analyst Wolf predicts a potential 500% bull run for Ethereum, pushing its price towards $14,000, following…
Read more
In Brief NY Attorney General accuses DCG and affiliates of a $3 billion crypto fraud. The lawsuit centers on the Gemini Earn program’s misleading high return promises. Over 230,000 investors affected, with legal actions complicating DCG’s woes. New York Attorney General Letitia James has accused Digital Currency Group (DCG) and its affiliates of conducting a…
Read more
In Brief The Optimism Network plans a temporary suspension of Ethereum withdrawals on February 15, starting at 9:00 ET for essential maintenance. The pause is part of a broader strategy to enhance the network’s defense against security threats through a significant protocol upgrade. The upgrade introduces a Superchain-wide pause mechanism to reduce risks and offer…
Read more
