馃毃 FTX Exchange Will Not Be Restarted, Bankruptcy Lawyer Announces
The FTX exchange plans to make full payments to crypto customers in the event of bankruptcy. However, the exchange's bankruptcy lawyer stated that the exchange will not be restarted.
馃摪 Wintermute Increased OTC Trading Volume by 400% Over the Year
Wintermute reported a decrease in OTC trading volume in the first half of 2023, but the number of unique transactions rose to 29 million in the second half, increasing sixfold, and the weekly OTC volume exceeded 2 billion dollars. As major institutional traders moved to OTC desks, continuing the lack of liquidity in exchanges, Wintermute's OTC trading volume increased by 400% over the year.
馃摪 Bitcoin Enters Bull Market with Historic Event
Bitcoin reached a historic milestone by forming a "golden cross" on its weekly chart for the first time. This bull formation, observed when the short-term moving average crosses above the long-term moving average, indicates an approaching sustainable upward trend. However, this formation can sometimes act as a delayed indicator. By the time this event occurs, the market may have already priced in the bullish trend. Moreover, today Bitcoin's price struggled, dropping $ 1,000 or 2.3% in just 7 hours. This decline demonstrates how large-scale transactions can lead to sudden price changes.
馃摪 SEC Close to Deciding on Spot Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) is reportedly close to approving spot Bitcoin exchange-traded funds (ETFs). The SEC is finalizing the review of applications in meetings with major exchanges like the New York Stock Exchange (NYSE), Nasdaq, and the Chicago Board Options Exchange (CBOE). ETFs cannot be publicly traded without approval. The decision is expected to be announced this Friday, with spot Bitcoin ETFs anticipated to start trading next week. A favorable decision from the SEC is expected.
馃摪 Fed Interest Rate Cuts Could Pose a Risk for Bitcoin
The onset of interest rate cuts by the Federal Reserve (Fed) could mark a risky period for Bitcoin. Historical data show that economic slowdowns often occur during periods when interest rates are cut. In such situations, investors might tend to avoid risk, steering clear of volatile assets like Bitcoin. Additionally, an increase in the strength of the dollar could lead to decreased demand for Bitcoin. Therefore, the Fed's interest rate cuts could lead to a short-term risk period for Bitcoin.
馃摪 MicroStrategy Founder Michael Saylor Sells MSTR Shares
Michael Saylor, the founder of MicroStrategy, is selling MSTR shares worth $ 216 million from his personal holdings. However, Bitcoin proponent Saylor has not indicated that he will be divesting any of his BTC assets. MicroStrategy has been buying Bitcoin principally, as Saylor believes it is less sensitive to losses in asset value compared to cash reserves. The company announced the purchase of $ 615.7 million worth of Bitcoin in 2023. Saylor is now aiming to profit from his HODLing habits.
馃摪 Etherscan Acquires Solscan on the Solana Network
Etherscan, used by Ethereum developers and investors, announced the acquisition of Solscan on the Solana network. It was mentioned that the two platforms will merge, emphasizing the desire to combine the features of Etherscan and Solscan. Solscan, launched in 2021, serves over three million users monthly.
馃摪 SOL Price Nears $ 100 Amid Continuing Meme Coin Craze
As the hype around Solana's rapid transactions, low fees, and meme coin offerings continues, the value of SOL is approaching $ 100. Solana stands out for surpassing Ethereum in terms of trading volume and network fees. The total value locked in Solana applications has risen from $ 400 million in November to $ 1.3 billion as of July 2022, reflecting the increasing adoption of the platform. With these factors, SOL has gained over 830% in value since the beginning of the year.
馃摪 FTX Claim Prices Rise, But Experts Warn of Unsustainable Increase
Despite the publication of a "disappointing" restructuring plan, FTX's claim prices are on the rise. Experts are warning that this increase may not be sustainable. The value claims of the bankrupt crypto exchange FTX have increased in recent weeks. FTX claims have risen by more than 25% since November, reaching a high of up to 69% as of December 15. This increase is happening despite the release of a new restructuring plan that could potentially lead to millions of dollars in losses for FTX.
馃摪 Shiba Inu Token Burn Rate Increases by 400%
The burn rate of Shiba Inu (SHIB) tokens has unexpectedly increased by 400%, setting a record. The Shiba Inu community is eagerly anticipating an increase in the cryptocurrency's value. Such a significant rise in SHIB's token burn rate indicates increased activity within the Shiba Inu community. Furthermore, there has been a positive development regarding the adoption and usage of Shiba Inu's technological infrastructure. These developments create a positive outlook for the future of Shiba Inu, and the community eagerly awaits SHIB to reach new heights.