Tag: crypto market

Former BitMEX CEO Arthur Hayes has sparked enthusiasm in the crypto community by backing Dogwifhat, anticipating a $10 milestone amid rising memecoin fervour. As Hayes backs WIF, Galaxy Fox emerges as the next big thing, fueling excitement for early investment opportunities.

The Nigerian Securities Regulator has suggested a regulation mandating virtual asset service providers to register and maintain an office in Nigeria. The agency has also proposed a fivefold increase in the registration cost, which must be submitted with licensing applications from prospective cryptocurrency exchanges.

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.

In the fast-paced world of cryptocurrencies, tales of overnight fortunes are not uncommon. One such extraordinary story revolves around an early investor in PEPE, a digital asset that has seen its fair share of ups and downs. Back in April 2023, an investor made a modest investment of approximately $3,000 in PEPE tokens. Little did they know that this initial bet would soon turn into a life-changing windfall. Fast forward to today, and the same investor has seen their fortunes skyrocket, cashing out a portion of their holdings for $2 million while still holding onto a staggering 4.15 trillion PEPE tokens, now valued at $29.2 million. This investor’s total profit from their PEPE investment has exceeded $30 million, representing a gain of over 10,000 times their initial investment.

In a bid to rebuild trust and repay creditors, Celsius, the embattled crypto lender, is making waves with a two-pronged approach: distributing over $3 billion and forging a novel Bitcoin mining venture, Ionic Digital, co-owned by creditors and miners. While these moves offer hope, questions linger about long-term strategy, asset sales, and potential tax implications for creditors.

The launch of Bitcoin exchange-traded funds (ETFs) in the US has raised concerns about potential risks to the financial system. Experts warn that these ETFs could exacerbate volatility in the Bitcoin market and create systemic risks, causing ripple effects throughout the financial system.

Standard Chartered Bank has predicted a surge in the price of Ethereum (ETH) in the coming months, with expectations of reaching $4,000 by May. The bank’s research team believes that the approval of spot-based Ethereum ETFs in the United States will be a key driver for this increase.

A recent tweet by a crypto analyst has stirred controversy within the bitcoin community, accusing Binance, the world’s largest cryptocurrency exchange, of being a key contributor to the recent downturn in bitcoin’s value. The tweet suggests that Binance has sold over $5 billion worth of bitcoin since the start of the year, ostensibly to cover a substantial fine imposed by US authorities. The tweet, supported by a chart detailing bitcoin’s price and daily net outflows from Binance, Grayscale Bitcoin Trust (GBTC), and the US market, has sparked a lively debate.

Matrixport, a leading crypto financial services platform, forecasts that Bitcoin will soar to $50,000 in the next month, driven by several positive factors. The company expects that the approval of spot Bitcoin ETFs by the U.S. regulator, the increasing institutional adoption of Bitcoin, the limited supply of the cryptocurrency, and the historical seasonal pattern will boost the price of Bitcoin to new highs. Matrixport also predicts that the crypto market will enter an altcoin season, a phase when alternative cryptocurrencies outperform Bitcoin in terms of returns. The company advises investors to diversify their portfolios with altcoins that have strong fundamentals and growth potential.

Arthur Hayes, the co-founder and former CEO of BitMEX, a leading crypto derivatives exchange, has been selling off his holdings in ENS, FXS, and LOOKS, three Ethereum-based tokens, in the past few days. He reportedly lost more than $5 million, as the prices of these tokens plummeted by more than 50% since their peaks. Hayes then switched to buying ETH, GMX, and PENDLE, three other Ethereum-based tokens, with a total value of about $15 million. Hayes’s trading activity reflects his changing views on the crypto market, as he moves from more speculative and niche tokens to more established and mainstream ones. It also shows his confidence in the Ethereum ecosystem, which hosts the largest number of decentralized applications and users in the crypto space.