Ethena Labs has revealed its latest strategic move: the inclusion of Bitcoin (BTC) as collateral for its synthetic dollar-pegged product, USDe. This decision, aimed at significantly scaling the product’s supply from its current $2 billion, capitalizes on the burgeoning BTC derivative markets for enhanced scalability and liquidity in delta hedging practices. Ethena Labs’ ambitious goal…
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Bitcoin Price Prediction In the wake of Bitcoin (BTC/USD) rebounding from a crucial $65,000 support level, the market is buzzing with speculation about its next move. With BTC surpassing the $69,000 threshold amid preparations for the imminent halving event, investors are keenly assessing the potential impact on its value. This analysis delves into the factors…
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The Bitcoin Network Value to Transactions (NVT) Golden Cross indicator attained overheated values coinciding with the recent local top in the price. Bitcoin NVT Golden Cross Surged To 3.17 During Recent Peak An analyst in a CryptoQuant Quicktake post explained that the NVT Golden Cross may have served as an indicator of the recent top…
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On-chain data suggests that less Bitcoin (BTC) is sitting on crypto exchanges than ever within the past six years. According to CryptoQuant’s Bitcoin Exchange Reserve dashboard, balances on such platforms dwindled to just 1,945,051 BTC as of April 2, 2024. By comparison, Bitcoin exchange reserves stood at 2,087,030 BTC at the start of the year,…
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Franklin Templeton’s digital assets division has released a note to its investors introducing Bitcoin-based non-fungible tokens (NFTs), highlighting a surge in activity within the Bitcoin ecosystem. The asset manager attributes this increased momentum to various factors, including the emergence of Bitcoin (BTC) NFTs called Ordinals, the development of new fungible standards like BRC-20 and Runes,…
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The competition among investment banks to be the first to incorporate spot Bitcoin exchange-traded funds (ETFs) in the United States has intensified, with Morgan Stanley and UBS vying for the top spot. According to crypto insider Andrew AP Abacus, both financial giants are slated to introduce their Bitcoin ETFs next week. Morgan Stanley and UBS…
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In the early US hours, Arkham Intelligence reported that the United States government had transferred over $90 million worth of Bitcoin and Ethereum, previously seized from two Estonian nationals involved in a vast cryptocurrency fraud and money laundering scheme. This move captured the attention of the cryptocurrency community, just days after the transfer of approximately…
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On Tuesday, the crypto market was off guard when Cathie Wood’s ARK 21Shares spot Bitcoin ETF (ARKB) experienced a significant outflow. This marked the first time since the introduction of spot Bitcoin ETFs in the United States that one of the “Newborn Nine” surpassed the outflows of Grayscale’s Bitcoin Trust (GBTC). On April 2, ARKB…
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Amid the bearish pressure witnessed in the price of Bitcoin, Captain Faibik, a popular cryptocurrency analyst and trader, has identified the potential for a significant rebound that could send BTC to an unprecedented level before the end of April. Bitcoin Might Be Poised For New Peak This Month Bitcoin is presently exhibiting a downward pressure…
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Data shows that Bitcoin investor sentiment has cooled to the lowest level since February, something that could facilitate a rebound in the price. Bitcoin Fear & Greed Index Now Points At Just ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the general sentiment among investors in the…
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