Category: Markets

Binance, one of the leading cryptocurrency exchanges, made an unexpected move by listing Book of Meme (BOME) for spot trading on March 16, 2024, at 12:30 (UTC). This action by Binance is notable due to the rarity of spot listings following futures, which typically take longer to materialize. The sudden listing of BOME led to a significant surge in its value, with the MEMECOIN experiencing a remarkable 243% increase in 24 hours.

Ethereum has crossed a significant milestone, achieving its highest price since the end of December 2021, at $4,012. This substantial gain comes soon before the cryptocurrency community’s much anticipated Merge upgrade to Proof-of-Stake (PoS). The news has sparked widespread excitement and expectation among Ethereum owners.

In the past 24 hours, Worldcoin (WLD) has seen an impressive surge of over 38%, propelling its price above $10 and pushing its market capitalization beyond $1.49 billion. Additionally, Worldcoin’s Fully Diluted Valuation (FDV) has surpassed $100 billion, solidifying its position as the fourth largest FDV coin, trailing closely behind USDT.

Following Bitcoin’s surge past the all-time high of US$70,330, Binance’s future data reveals a swift downturn, with the cryptocurrency plummeting to US$67,600. The sudden drop triggered a significant wave of liquidations across the network, totaling nearly US$100 million within just one hour.

As Bitcoin achieves fresh record highs against the dollar, Grayscale’s GBTC remains resilient, with its assets under management holding steady at $28.4 billion. Despite experiencing significant outflows totaling $9.2 billion since its conversion to a spot Bitcoin exchange-traded fund, Grayscale’s AUM remains largely unaffected. Analysts attribute this resilience to the recent surge in Bitcoin’s price, which has offset the fund’s outflows. Grayscale’s approach to management fees, though contentious, is proving to be a savvy business move amidst the ongoing market dynamics.

Shiba Inu prices have risen significantly in the previous month, from below $0.00001 to above $0.00004, and are now only 50% off their all-time high. This has increased the optimistic mood among SHIB investors as crypto experts continue to urge greater prices, one of which was co-signed by Shytoshi Kusama, Shiba Inu’s principal creator.

Recent data from Binance highlights significant fluctuations in Bitcoin’s price over the past few hours. After briefly plummeting to $59,005, Bitcoin has since rebounded to $63,675. The heightened volatility has led to substantial liquidations across the network, totaling $1.183 billion in the last 24 hours. Long positions accounted for $892 million of liquidations, while short positions amounted to $291 million. Notably, a staggering 319,000 individuals were liquidated during this period. Moreover, the BitVol (Bitcoin Volatility) Index surged to 78.81, nearing its one-year high of 79.92 recorded on March 4.

The price of Bitcoin (BTC) dropped from its peak of $69,200 on March 5th, leaving traders who had invested in the cryptocurrency through options and futures contracts with a startling $1 billion loss. This decline in the biggest cryptocurrency also affected altcoins and caused several market changes.

Bitcoin surged to a historic high of $69,000 on March 5, marking a significant milestone in its price trajectory. This resurgence comes after 846 days, signaling a renewed bullish sentiment in the cryptocurrency market. Michael Saylor, a prominent figure in the industry, declared the onset of the “Bitcoin gold rush era,” attributing it to the launch of Bitcoin exchange-traded funds (ETFs) in January 2024. The rapid influx of institutional money into these ETFs, notably BlackRock’s, underscores the growing mainstream acceptance of Bitcoin as an investment asset. With Bitcoin adoption accelerating, fueled by both institutional and retail investors, these record-breaking price levels may soon become a distant memory, highlighting a paradigm shift in the financial landscape.

Bitcoin’s recent surge past $68,000 has ignited excitement in the cryptocurrency market, with investors eagerly anticipating the upcoming halving event in April. Expert predictions, including Bitwise CIO Matt Hougan’s forecast of $100,000 to $200,000 by 2024, add to the bullish sentiment surrounding the leading cryptocurrency.