DeFi News Today Official TheBitTimes.com

This week, business intelligence firm MicroStrategy augmented its Bitcoin (BTC) stash with $615 million. The drama surrounding the spot BTC ETF continued, while, a U.S. court affirmed that Binance founder Changpeng Zhao remains in the country until his sentencing. MicroStrategy accumulates, Trump distributes MicroStrategy continued its Bitcoin buying spree on Dec. 27 when the firm purchased an additional 14,620 Bitcoin at an average price of $42,110 per token, according to chairman Michael Saylor. The company now holds 189,150 Bitcoin currently valued at $7.99 billion. MicroStrategy procured these tokens at an average price of $31,168 per coin, or approximately $5.9 billion. Meanwhile, reports from this week suggested that former U.S. President Donald Trump could be distributing his Ethereum (ETH) holdings. Data shows that an Ethereum wallet, which has been accumulating royalties from Trump’s NFT collection, transferred millions worth of ETH to Coinbase. ETF drama con...

A widely followed analyst and trader says a top-five altcoin by market cap could rally higher if it overcomes a key resistance zone and turns it into a support area. The pseudonymous analyst known as Rekt Capital tells his 379,700 followers on the X social media platform that if Binance Coin (BNB) turns the resistance level at $340 into a support level, “the fireworks will really begin” for the fourth-largest crypto asset by market cap. From Rekt Capital’s chart, it appears that BNB has broken out of a descending triangle on the weekly chart and has solidly established itself above the hypotenuse of the pattern. While a descending triangle pattern is typically bearish, a successful break above the hypotenuse indicates the start of a bullish trend. Source: Rekt Capital/X BNB is trading at $320 at time of writing, up by nearly 20% over the past week. Next up is Bitcoin (BTC). According to the pseudonymous analyst, there are “just over 100 days” left before Bitcoi...

A top crypto strategist says that one Ethereum (ETH) competitor may be setting the stage for another explosive move to the upside. Pseudonymous trader Bluntz tells his 233,800 followers on the social media platform X that Solana (SOL) appears to be in the midst of an ABC corrective pattern. Bluntz utilizes the Elliott Wave theory in his technical Analysis . The theory attempts to predict future price action by following crowd psychology that tends to manifest in waves. A bullish asset tends to witness an ABC correction wave before igniting the next leg up, according to the theory. “Love seeing the SOL obituaries on the TL (X timeline). Can’t wait to see the 20 million hedged tweets people will manage to rustle up from somewhere vaguely insinuating they called it when SOL turbo reverses to $140.” Source: Bluntz/X Solana is trading for $104.42 at time of writing, after starting off the year trading for under $10. The trader has remained bullish on Solana as SOL ...

Ethereum co-founder Vitalik Buterin reflects on the early days of cryptocurrency adoption in a blog post. Tron founder Justin Sun responds, expressing admiration for Ethereum. The blog explores the early concept of Web3, envisioning a decentralized internet stack aligned with open-source software movement ethos. In a recent blog post, Ethereum co-founder Vitalik Buterin took a stroll down memory lane, reminiscing about the early days of cryptocurrency adoption. Titled “Make Ethereum Cypherpunk Again,” Tron founder Justin Sun also responded to Buterin’s tweet, expressing Tron’s admiration for Ethereum. Ethereum’s Early Days One cherished memory from the blog dates back ten years to a region in Berlin known as the Bitcoin Kiez, a hub in Kreuzberg where shops embraced Bitcoin payments. Room 77, a restaurant and bar run by Joerg Platzer, stood as the epicenter, not merely accepting Bitcoin but fostering a community of open-source d...

Dec 28, 2023 at 08:47 // Price Author Coin Idol The price of TRON (TRX) is moving sideways below the $0.11 resistance level. Price Analysis by Coinidol.com. Long-term forecast for TRON price: range TRON has been trading in a range between $0.097 and $0.11 since the end of the rally on November 10. The price range has narrowed and is now stable between $0.10 and $0.11. If the resistance zone is tested again, the price of the cryptocurrency will fall below the moving average lines. At this point, the altcoin is trading at $0.1042. On the upside, the altc...

When it comes to Shiba Inu token holdings, Ethereum founder Vitalik Buterin stands in a league of his own. Thanks to a generous token gift from SHIB creator Ryoshi, Buterin holds over 500 trillion tokens—half the total supply—in a “dead wallet” he controls. This dwarfs even the largest individual SHIB investors. According to reports, Ryoshi gifted 50% of the total minted SHIB supply to Buterin shortly after the token’s creation.  In May 2021, Buterin removed the vast majority of these tokens from circulation by sending 410 trillion SHIB to a dead address in a massive burn event. He also donated 10 trillion SHIB to an Indian COVID relief fund that month. Also read: Three Signs That Point to Possible Shiba Inu Price Surge As these hundreds of trillions of tokens can never re-enter circulation or be accessed by anyone, Buterin’s dead wallet remains the undisputed top SHIB holder by a massive margin. According to the details from Coincarp, the dead wallet holds 41% of the S...

Barry Silbert, the CEO of Digital Currency Group (DCG), has resigned from his position as the chairman of the board of directors at Grayscale Investments. Silbert’s departure comes at a pivotal moment for Grayscale, which is currently seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF). According to an 8-K filing with the SEC, Mark Shifke, the current Chief Financial Officer of DCG, will succeed Barry Silbert as the new chairman of the board, effective January 1, 2024. Shifke will be joined by Matthew Kummell and Edward McGee, who have also been appointed to the board. Grayscale Legal Woes The news of Silbert’s resignation has sparked speculation about the future of Grayscale and its parent company, DCG. Some analysts believe that the move is an attempt to demonstrate good governance and “best behavior” to regulators ahead of the long...

MicroStrategy’s big investment in Bitcoin has yielded considerable gains for its investors, as the company’s stock has experienced a remarkable 308% increase over the course of this year. MicroStrategy has come out as one of the biggest gainers in the US among companies valued at $5 billion or more in terms of share prices. According to a report by CNBC on Dec. 26, MicroStrategy’s allure to investors stems almost exclusively from its Bitcoin (BTC) holdings, unlike its technology counterparts, which depend on revenue growth and market share. The company’s stock has soared by 308% this year, surpassing Bitcoin’s 156% gain. As of Dec. 27, MicroStrategy’s stock (MSTR) traded at $603.89 in after-hours, according to Google Finance. The firm’s success overshadows even major tech companies like Nvidia, Meta, Apple, Microsoft, and Google. Bitcoin is the cornerstone of MicroStrategy’s success. The company started buying BTC in 2020 amid globa...

From record-breaking sales in 2021 to a major market cooldown and reduced transaction values in 2023. What’s happening in the NFT market? The world of non-fungible tokens (NFTs) has seen dramatic ups and downs since they first appeared. NFTs started as an idea called “colored coins” on the Bitcoin (BTC) blockchain around 2012-2013. But their real moment in the spotlight came with the Ethereum (ETH) blockchain in 2017. Ethereum revolutionized how NFTs were created, stored, and traded, setting the stage for a new digital era. Then, the year 2021 was a game-changer for NFTs, especially in the art world. Trading volumes in the NFT art market skyrocketed, reaching $13 billion. The sale of Beeple’s digital artwork for a staggering $69 million was a highlight, marking a new era in digital art.  Alongside, projects like CryptoPunks, CryptoKitties, and Bored Ape Yacht Club gained fame, shaping trends in digital art and collectibles. The term “NFT...

The prevailing perception as of late 2023 is that Bitcoin (BTC) is decisively on its way up. The world’s largest cryptocurrency started the year at only $16,000 after the crypto market was largely eviscerated in 2022, but many pointers now indicate that the long “crypto winter” is definitely over. The rally saw Bitcoin rise significantly in just a few months, meaning that it appears in hindsight that it would’ve been an excellent buy in early October at $27,000 or even on December 10 at $41,000, as it is now, mere days from the New Year, hovering closer to $44,000. In fact, BTC is more than 160% in the green year-to-date at the time of writing. BTC YTD price chart. Source: Finbold While the current price is dear, especially compared to where BTC stood on January 1, 2023, determining whether it is a good buy for 2024 requires looking at the wider trends in the crypto market, as well as the specific things in store for the world’s foremost cryptocurrency. A real chance for a new al...

The US Securities and Exchange Commission (SEC) has set December 29, 2023 as the date for final changes to spot Bitcoin ETF filings. BlackRock, Grayscale and ARK Invest and other companies are all eyeing spot Bitcoin ETF approval in 2024. Bitcoin price is hovering above $43k and could rally to a new all-time high on the ETF approval and other bullish catalysts. The US Securities and Exchange Commission ( SEC ) has reportedly set a deadline for the final changes to Bitcoin exchange-traded funds (ETFs) applications before it. SEC officials told representatives of seven firms looking to list a spot Bitcoin ETF in the coming weeks that they had to file the final changes to their proposals by December 29, 2023.  SEC expected to approval first spot Bitcoin ETF early January A Reuters report says the SEC communicated this to at least companies, with details of the same noted in public memos and from sources familiar with the developments. The development co...

Dogecoin (DOGE) has turned many early investors into multi-millionaires. The original memecoin has also found support from global icons, such as Tesla and X owner Elon Musk. Musk has showered support for the popular dog-themed crypto on several occasions. Musk has said that he enjoys the non-serious nature of the project. DOGE is also accepted as a currency for Tesla merchandise items. Also Read: Dogecoin : DOGE Payments Could Come to X: MyDoge Wallet CTO However, many investors and crypto fans think they may have missed the boat with Dogecoin (DOGE). Nonetheless, DOGE may climb to new heights in the future. Musk’s X platform is rumored to include DOGE in its payment feature. If X integrates DOGE into its platform, the token may see a surge in mass adoption. An increase in adoption may cause a spike in its price. The memecoin is currently down by over 87% from its all-time high of $0.731578, which it attained in May 2021, over two years ago. DOGE fans and investors are target...

SOL’s YTD performance is an 809.50% increase after starting the year below $10. Solana’s TVL has been recovering, but Ethereum stays on top of other chains. SOL may hit $100 before the year ends if the accumulation of the token increases. Solana (SOL), one of the top 10 cryptocurrencies in the market, is showing gains. At press time, the cryptocurrency was $91.25, after it gained 17.34% in the last seven days. SOL’s rise this year has been tremendous considering that it was one of the casualties affected by the FTX collapse. With its recent run, many analysts believe that SOL could be a three-digit token before the year ends. Both Projects Can Co-Exist When the year started, SOL traded a little below $10. But an 809.50% increase, according to CoinMarketCap, on a Year-To-Date (YTD) basis brought back the notion that Solana could be the “Ethereum (ETH) killer.” ETH has also had a good year, but it is nothing compared to SOL. This is because ETH has gained...

Michaël van de Poppe predicts that the altcoin market will grow significantly in 2024. Altcoins such as Injective and Solana have already recorded notable rallies in the last week, Michaël added that most of the growth in Q1 2024 will be championed by Ethereum. In a recent post on X (formerly Twitter), crypto trader Michaël van de Poppe expressed his optimism about the performance of altcoins in the coming year. The best time to buy #Altcoins is now. The reasoning is relatively simple and the past weeks have provided evidence on this. Altcoins have been suffering for 2023, and mostly 2022, but are quickly rallying upwards. What's next? Did the bull start? Let's analyze it all. … pic.twitter.com/oJKpQ1hwNX — Michaël van de Poppe (@CryptoMichNL) December 21, 2023 Michaël noted that the crypto market has been in a slump for most of the year. However, recent weeks have seen a surge in altcoin prices, leading him to speculate about a potential b...

Binance, the world’s largest crypto exchange platform by volume, is announcing an update that will reduce the minimum order size of some of the top memecoins by market cap. In a new update, Binance says that it will be reducing the mandatory minimum order size of certain meme assets for spot and margin trading pairs, including Pepe (PEPE) and a handful of dog-themed meme cryptos, such as Floki (FLOKI), Shiba Inu (SHIB), and red-hot Bonk (BONK). Binance says the changes will take effect tomorrow and that the reduction of the order sizes will help make crypto trading more accessible globally. “In order to make trading more accessible and improve trading experience, Binance will reduce the minimum order size of the following spot and margin trading pairs by [December 22nd]… The adjustment will not affect spot trading, margin trading or other relevant functions [and] the updates to minimum order size will not affect existing spot or margin orders.” Acco...

In the ever-evolving landscape of cryptocurrency, two phenomena are currently sending shockwaves through the market – the escalating excitement over a potential Bitcoin exchange-traded fund (ETF) and the emergence of a new Dogecoin contender named Rebel Satoshi .   Let’s navigate the wild world of finance and tech and break down the buzz around these developments in a language that resonates with the crypto-curious. Bitcoin ETF: A Game-Changer For Top Investors Bitcoin, often dubbed the gold of the digital age, has been on a rollercoaster journey, experiencing an astonishing 150% surge throughout the year. As the crypto community cheers, the driving force behind this surge is the mounting speculation surrounding the approval of a Bitcoin spot ETF in the United States. What’s the big deal? Well, an ETF approval could mean a game-changer for traditional top crypto to buy investors, providing them with an easy entry point into the crypt...

Key takeaways Bitcoin is trading above the $43k level once again and could rally higher soon. Memeinator’s presale is now approaching the $2.5m milestone as more investors enter the project. The cryptocurrency market is having a positive week so far following the dip over the weekend. BTC is eyeing the $44k level once again and could rally higher in the short term. Meanwhile, Memeinator’s presale is now approaching a key milestone. BTC targets $44k Bitcoin, the world’s number one cryptocurrency by market cap, has been performing well since the start of the week. It is up by more than 2% over the last 24 hours and has recovered from the weekend’s dip.  At press time, the  price of Bitcoin stands at $43,647 per coin. If the bullish pattern persists, BTC could be eyeing the $44k level over the next few hours. Altcoins have also been performing well, with SOL and AVAX being some of the best performers.  What is Me...

Solana’s stablecoin transfer volume jumps 600%, reaching $16.6 billion. Following the JTO airdrop, Solana saw increased activity and integrated Euro Coin. The cryptocurrency’s market value and DeFi TVL showed significant growth. Solana has recently marked a notable achievement in the world of cryptocurrencies. As a crypto journalist, Laura Shin stated that the network’s daily stablecoin transfer volume has witnessed a remarkable 600% increase as of December 2023 on X (formerly Twitter). This surge, bringing the volume to $16.6 billion, catapults Solana ahead of established blockchain networks like Ethereum, Tron, BNB Chain, and Arbitrum. .@Solana now leads the pack in daily stablecoin transfer volume, reaching $16.6 billion on Monday, per institutional blockchain analytics platform @artemis__xyz, @httpsageyd reports.https://t.co/csCY9Jvxlp — Laura Shin (@laurashin) December 19, 2023 In 2022, its daily transfer volumes fluctuated bet...