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  • Crypto fear and greed rises as investors turn to Vantard

    Crypto fear and greed rises as investors turn to Vantard

    Crypto investors are increasingly greedy as Bitcoin and other meme coins continue their strong bull run. The crypto fear and greed index moved to the extreme greed zone of 85, a trend that could continue in the coming weeks. 

    Bitcoin soared to over $93,000, solidifying it as the best-performing asset in the last 15 years. Similarly, Ethereum and Solana jumped to $3,200 and $215, respectively.

    Meanwhile, investors turned to Vantard, one of the fastest-growing token sales of the year, which has raised almost $1 million in the past few weeks.

    Donald Trump and the Federal Reserve

    The main reasons why the crypto fear and greed index has moved to the green zone are Donald Trump and the Fed.

    Donald Trump won last week’s election by a huge margin, making him the first crypto-friendly president in the United States. He owns crypto tokens worth over $6 million and is also raising money for the World Liberty Finance project. 

    Therefore, Trump is expected to appoint regulators who are friendly to the crypto industry, which will be a breath of fresh air for an industry that has struggled under Gary Gensler. In his reign, Gensler has sued numerous companies like Ripple Labs, Immutable X, Uniswap, and Kraken.

    The Federal Reserve has also contributed to the ongoing crypto rally. It has already slashed interest rates two times this year, and analysts expect it to continue the process. In most cases, risky assets like cryptocurrencies and stocks do well when the Fed is cutting rates.

    Vantard token sale is thriving

    The ongoing crypto bull run explains why investors are piling into Vantard, an upcoming crypto project that is raising money from investors.

    Vantard is inspired by Vanguard, a company whose assets have surged to over $8 trillion in the past few decades. Its goal is to create the first meme coin index fund that tracks the best tokens in the industry.

    This is a noble goal considering that meme coins are some of the best-performing assets this year. For example, Dogecoin has jumped by over 102% in the last seven days, while Pepe, Dogwifhat, Bonk, and Floki have soared by over 70% in the same period.

    Analysts believe that meme coins will continue powering ahead in the coming months. In a statement today, Matthew Sigel of VanEck, predicted that Bitcoin would jump to $180,000 in 2025. His case is based on technicals and fundamentals, which he believes are strong. 

    One of the top fundamentals is the ongoing Bitcoin ETF inflows. These funds now hold over $95 billion in assets, with the iShares Bitcoin ETF having over $42 billion. 

    Therefore, if these predictions are accurate, it means that other meme coins will do well. In most cases, meme coins thrive when Bitcoin is in a strong momentum. You can buy the Vantard token here.

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  • BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    blackrock ceo larry fink crypto digitalising gold
    • BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
    • BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
    • BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

    BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

    News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

    Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

    In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

    Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

    Reaching new heights

    The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

    The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

    In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

    It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.

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  • Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

    Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

    • The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin
    • Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen
    • When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 Bitcoin halving events

    Donald Trump’s re-election into the White House isn’t “the main story” for Bitcoin’s recent price rally, says Onramp Bitcoin’s co-founder.

    In a post on X, Jesse Myers said the main reason is that the market is at the “6+ months post-halving” mark.

    Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward.

    A reduction in Bitcoin supply typically means an increase in the price of Bitcoin. The next Bitcoin halving is expected to occur sometime in 2028.

    According to Myers, a “supply shock has accumulated,” meaning “there’s not enough supply available at current prices to satisfy demand,” adding that a “supply-demand price equilibrium must be restored.”

    However, the only way Myers believes this will happen “is for the price to go higher, which will flywheel into mania and a bubble, but that’s how this thing works.”

    Post-halving bubbles

    Supplying a chart, Myers indicated that the market is currently at the start of the post-halving bubble. Based on his data, Bitcoin’s price will continue its upward trajectory before peaking to new highs and dropping to current levels.

    Jesse Myers’ Bitcoin post-halving chart. Source: Jesse Myers

    “It sounds crazy to say there will be a reliable, predictable bubble every 4 years,” said Myers. “But then, there’s never been an asset in the world where new supply creation is halved every 4 years.”

    Post-halving bubbles happened in the 2012, 2016, and 2020 Bitcoin halvings, said Myers.

    The recent Bitcoin price rally comes amid Trump’s re-election into the White House. Based on his campaign trail in the lead-up to election day, Trump came across as pro-crypto compared to current Vice President Kamala Harris.

    Last week, Senator Cynthia Lummis also reaffirmed plans that the US is going to build a strategic Bitcoin reserve. If passed, the senator’s Bitcoin Act would propose directing the US Treasury to buy one million over the next five years.

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  • Bitcoin breaks $87k; here’s what this analyst says about BTC price

    Bitcoin breaks $87k; here’s what this analyst says about BTC price

    • Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum.
    • If it happens, the bull market case is for a rally to $150k, an analyst says

    With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it’s likely to continue higher. Although a breather could be due, analysts are suggesting this might just be a start of a major bull run for the benchmark crypto asset.

    Bitcoin hits $87k: What next?

    BTC rallied higher after breaching $84k amid MicroStrategy’s $2 billion worth of bitcoin purchase. The upward move now sees it trade above $87k. This is after the momentum carried from the past week, which saw Donald Trump become president-elect.

    According to crypto analyst Kaleo, the next stop for BTC could be $90k before a brief consolidation. However, this might offer the next upward bounce.

    Now, past performance is not an indicator of future gains, the market knows. Nonetheless, crypto analyst Kaleo says should Bitcoin price take a similar trajectory to its previous cycle, it could stall around $90k. This should however be only for a brief period before the upside momentum returns to push bulls beyond $100k.

    “When Bitcoin finally made a clean break above the previous cycle’s all time high in December of 2020, it ripped 22% higher without pulling back over the course of several days before it slowed down a bit,” the analyst posted on X. “It spent about [a] week consolidating [there] prior to beginning another 75% up only run over the course of the next few weeks,” he added.

     

    Per the chart the analyst shared, a bull market projection has Bitcoin price at $150k with a 75% breakout. Things may not play out as such, particularly with the market never moving in a straight line. Regardless, the long term view is super bullish for Bitcoin.

    “The fun in this bull market is just getting started,” the analyst opined.

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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.

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  • Over 40,000 BTC leave exchanges as Bitcoin hits $82k

    Over 40,000 BTC leave exchanges as Bitcoin hits $82k

    • Bitcoin rose to a new all-time high above $82 on November 11, 2024
    • Over 40,000 Bitcoin valued at nearly $3.28 billion have left exchanges in the past week.

    The price of Bitcoin (BTC) has climbed to a new record high above $82,000 as the momentum that pushed cryptocurrencies higher continues to dictate sentiment.

    On Monday, BTC reached highs of $82,329 across major exchanges to put the flagship digital asset up more than 20% over the past week.

    The gains have also impacted altcoins, with notable performances for Ethereum that has crossed above $3,100 and Solana that’s eyeing a new year-to-date high. Cardano, BNB and meme coins Dogecoin and Shiba Inu are also trading higher.

    Over 40,000 BTC leave exchanges

    According to crypto analyst Ali Martinez, Bitcoin’s spike to the new ATH comes as the amount of BC leaving exchanges surges.

    In the past week, Ali noted via X, bullish BTC holders have withdrawn over 40,000 bitcoins from exchanges. This represents nearly $3.3 billion worth of Bitcoin exiting from exchanges. Exchange balances for Bitcoin have plummeted in the last seven days.

    Bitcoin exiting exchanges has increased this past week. Chart by Ali Martinez on X

    The bullish sentiment across the market could be driving this trend. Donald Trump’s US election victory and interest rate cuts are two major catalysts. Meanwhile, institutional demand amid spike in spot ETF inflows has also helped BTC past the $82k mark.

    What next for Bitcoin price?

    BTC price forecasts suggest a surge to $100k is possible before the end of the year. With this outlook in place, a huge number of traders taking a short term bearish view after recent gains have lost significant amounts of money.

    Per Coinglass data, the past 24 hours have seen the crypto market a staggering $270 million in liquidations.

    However, longs expecting an even sharper spike for Bitcoin have recorded a $361 million liquidations. In total, more than 208,800 traders have been liquidated in the past 24 hours, the total liquidations comes in at $632.57 million, with $124 million in Bitcoin shorts.

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  • Bitcoin breaks $82,000 boosted by Trump’s re-election win

    Bitcoin breaks $82,000 boosted by Trump’s re-election win

    • Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week
    • Over the past 30 days, Bitcoin has increased in value by more than 30%
    • Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.12 billion in daily inflows

    Bitcoin has hit another record, reaching over $82,000 on Monday, boosted by Donald Trump’s re-election to the White House last week.

    According to data from CoinMarketCap, Bitcoin’s value has risen more than 19% in the past seven days and 30% over the past 30 days. Taking to X, Anthony Pompliano, host of the Pomp podcast, said:

    “The first pro-Bitcoin President was elected in US history and Bitcoin hit $80,000 within a week. The market is preparing itself.”

    While Trump’s win has helped push crypto prices up, many don’t think it’s the sole reason. In response, Sleep Money Maker said: “Think bigger than one week or one event. We’re watching decades of regulatory friction starting to dissolve. When barriers fall, capital flows – that’s just market physics in action.”

    Speaking to CoinJournal last week, James Toledano, COO at Unity, a self-custody crypto wallet, said it was “disingenuous” to say the US election directly caused the price increase.

    In the long-term, it won’t be the election that moves the crypto market, but “broader macroeconomic events, technological advancements, shifting market sentiment, and factors outside of the next President’s control,” Toldeano explained.

    Institutional appetite for Bitcoin is rising

    Institutional interest in Bitcoin has also reached new levels, noted by BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) bringing in a record $1.12 billion in daily inflows. This followed BlackRock setting a new record in October when its total assets reached $30 billion in 293 days.

    Speaking of the recent price rally, Toledano, said:

    “There is clearly heightened confidence in Bitcoin as a key investment vehicle and institutional investors are not only recognizing Bitcoin’s resilience as an asset class but are increasingly allocating capital in response to favorable macroeconomic conditions, including recent rate cuts and political shifts.”

    Other coins that are rallying include Ethereum, trading over $3,100, Solana, at $216, and Dogecoin, up nearly 158% in the past month at $0.2877.

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  • What happened in crypto this week

    What happened in crypto this week

    Wow, what a week’s it’s been in crypto: Tether’s CEO says they’re not launching a blockchain, the State of Michigan holds over $10 million in spot Ethereum ETFs, the launch of the Global Dollar stablecoin, Bitcoin reaches a new all-time high of over $77,000, and BlackRock’s IBIT sets record daily inflows of $1.12 billion.

    Let’s take a closer look at these and give you a recap on what happened this week in crypto.

    Tether isn’t launching a blockchain

    Paolo Ardoino, CEO of Tether, said that they’re not launching a Tether chain at the moment because “neutrality is very important to them.”

    Posting on X, Ardoino said that “different independent L2 solutions are working to support $USDt for gas fees.” Rather than trying to centralize everything, he mentioned that Tether is interested in teaming up with companies and communities.

    His announcement comes as Tether experienced a record-breaking milestone during the last quarter of 2024, resulting in $7.7 billion in profit over nine months.

    Focusing its attention on Q4 2024, Ardoino said the outlook is “very positive” with the growth of on-chain wallets per quarter rising to more than 35 million new addresses.

    The State of Michigan holds over $10 million in spot Ethereum ETFs

    The State of Michigan pension fund disclosed that it now holds more than $10 million in spot Ethereum exchange-traded funds (ETFs).

    According to a 13F filing, the State of Michigan Retirement System disclosed its holdings of the Grayscale Ethereum Trust (ETHE) and Ethereum Mini Trust ETF (ETH). Per the filing, the Michigan state pension holds 460,000 shares of ETHE worth about $10 million and 460,000 shares ETH (the mini trust ETF) worth roughly $1.1 million.

    This news is significant because the State of Michigan pension fund has become the first such entity to disclose an ETH ETF holding. According to Bloomberg senior ETF analyst Eric Balchunas this is a “big win” for Ethereum.

    In a post on X, he said: “Not only did Michigan’s pension buy Ether ETFs but they bought more then they did of Bitcoin ETFs, $10m vs $7m, this despite BTC being up a ton and Ether in the gutter. Pretty big win for Ether which could use one.”

    The Global Dollar stablecoin launches

    The Global Dollar (USDG) stablecoin has launched, aiming to boost global stablecoin adoption.

    Initial partners of the Global Dollar Network include Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood. Pegged to the US dollar and issued out of Singapore by Paxos, the USDG stablecoin comes at a time when there is tough competition in the stablecoin market.

    At present, Tether’s USDT and Circle’s USDC stablecoins make up a majority of the stablecoin market. In September, it was reported that USDT accounted for more than 75%. However, it’s this “lack of competition” in the stablecoin market that’s stopping the “industry from reaching its full potential,” according to Arjun Sethi, Co-CEO at Kraken, adding:

    “USDG upends this dynamic with a more equitable model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases.”

    Bitcoin achieves new all-time high above $77,000

    Bitcoin has reached another new high, topping $77,000, continuing from its upward trajectory following Donald Trump’s presidential win.

    Earlier in the week, Bitcoin achieved a new high of $75,315 as the results signalled a Trump win for the White House. Bitcoin’s last all-time high took place in March when it reached $73,000.

    However, Bitcoin wasn’t done there.

    It then pushed higher, topping over $76,000 across major exchanges on November 7. The news of Bitcoin’s new all-time high came as the US Federal Reserve announced it was cutting interest rates by 25 basis points.

    It remains to be seen how far Bitcoin will continue rising to; however, according to Bernstein analysts, Bitcoin could reach between $80,000 and $90,000 by the end of 2024 following Trump’s win.

    BlackRock’s IBIT sets record daily inflows of $1.12 billion

    BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.

    BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. The new record follows an October milestone, which saw the company reaching $30 billion in total assets in 293 days.

    Speaking to CoinJournal, Dary McGovern, COO of Bitcoin native Xapo Bank, said that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT).”

    A new record was also seen across the 12 US spot Bitcoin ETFs, reaching $1.38 billion since launching in January.

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  • BlackRock’s IBIT sets record $1.1 billion in daily inflows

    BlackRock’s IBIT sets record $1.1 billion in daily inflows

    • IBIT’s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
    • Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record indicates a “broader shift in institutional confidence” seen by BlackRock’s record net inflows
    • The 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January

    BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.

    The new record was noted on SoSoValue and comes when Bitcoin reached an all-time high of $76,677 across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

    BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days.

    Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT),” adding:

    “The growing institutional interest underscores Bitcoin’s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin’s role as a store of value and a potential hedge against inflation becomes ever clearer.”

    The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January.

    Nearing Satoshi’s wallet

    Bloomberg ETF analyst Eric Balchunas noted BlackRock’s new record in a post on X, saying: “Even I am surprised it’s that big, by far biggest one day flow of any BTC ETF ever.”

    Balchunas later added that the spot Bitcoin ETFs have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi Nakamoto’s 1.1 million Bitcoin.

    “This confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, particularly appealing amid traditional market uncertainties and as regulatory clarity improves,” said James Toledano, COO at Unity, a self-custody crypto wallet, to CoinJournal. “Just look at pension funds in both the UK and US investing in Bitcoin too. Sentiment has changed massively in such a short space of time.”

    Grayscale’s GBTC, the second-largest by net assets at $16.80 billion, saw a net inflow of $7.31 million. Fidelity’s FBTC reported $190.92 million and Ark and 21Shares saw $17.61 million.

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  • Kidnapped WonderFi CEO released after paying $720k ransom

    Kidnapped WonderFi CEO released after paying $720k ransom

    • Dean Skurka is the president and CEO of WonderFi, a Canadian crypto company
    • Skurka was forced into a vehicle in downtown Toronto during rush hour
    • He said that client funds and data remain safe and weren’t impacted by the kidnapping

    The kidnapped CEO of Canadian cryptocurrency company WonderFi has returned safely after electronically transferring CAD$1 million ($720,000) to his captors.

    On Wednesday, at around 6 p.m. during rush hour, Dean Skurka, the president and CEO of WonderFi, was forced into a vehicle in the area of University Avenue and Richmond Street W. in downtown Toronto, reports CBC.

    Skurka was ordered to pay the ransom demand of CAD$1 million. He was later released in Centennial Park in Etobicoke, according to a source close to the investigation. Speaking about the kidnapping, Skurka said:

    “The safety and security of all of WonderFi’s employees are paramount. Client funds and data remain safe, and were not impacted by this incident.”

    According to Jameson Lopp, co-founder and chief security officer of Casa, a security firm focused on protecting crypto users, Skurka’s kidnapping is the 171st case where violence has been used to target crypto holders.

    Lopp said:

    “As the [Bitcoin] price goes up, more awareness of the space permeates throughout society and as a result, more criminally minded people decide they want to try to figure out what the ROI of executing a physical attack against a known crypto holder is.”

    The kidnapping comes at a time when Bitcoin is going through a price rise.

    Yesterday, Bitcoin achieved a new all-time high of $76,677 on major crypto exchanges. The new price came amid the US Federal Reserve announcing a 25 basis points interest rate cut.

    Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

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