Tag: Bitcoin

Bitcoin slips below $40k as Bitbot’s presale surpasses $300k

Key takeaways

Bitcoin’s selling pressure continues as BTC dips below $40k

Bitcoin, the world’s number one cryptocurrency by market cap, has been underperforming over the last few days. It is down by more than 20% since the spot Bitcoin exchange-traded funds (ETFs) were approved two weeks ago.

At press time, the price of Bitcoin stands at $39,761, down by roughly 1% in the last 24 hours. Despite the current bearish trend, market participants still expect the bull market to launch in full force this year.

The Bitcoin halving is barely three months away and it usually signals the beginning of a Bull Run. If the bullish cycle commences this year, Bitcoin and altcoins could record massive gains in the coming months.

What is Bitbot?

The current bearish trend in the market hasn’t put a dent in the Bitbot presale. It has been a week since the Bitbot presale began and it has already crossed an important milestone.

The rising demand for Bitbot’s token can be attributed to its unique value proposition in the market. Bitbot is a Telegram trading bot that puts the power in the hands of the user. It is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram.

Bitbot provides an innovative way of trading as it leverages Telegram’s position as one of the leading social media platforms for crypto users.

Per the development team, Bitbot will provide numerous powerful features to help traders grow their trading portfolios. The features would be institutional-grade, granting them access to world-class trading functions.

The Bitbot team comprises individuals with vast experience in various fields including traditional finance and blockchain. With Bitcoin expected to reach new highs in the coming months, trading volume will skyrocket in the crypto market if that happens.

Bitbot’s trading innovations

Bitbot is working to develop excellent trading tools for traders. With the right level of adoption, its native token could become one of the biggest winners in the bull cycle.

An exciting aspect of Bitbot is that the tool prioritises security. According to the team, Bitbot will work with Knightsafe to offer a self-custody solution. Thus, mitigating the typical risks associated with Telegram trading.

Part of the funds raised from the presale will be directed towards the development of anti-MEV and anti-rug solutions for users to protect their assets. These features would enable traders to protect themselves from bots artificially pumping transaction costs and block scam projects.

BitBot uses an ultra-flexible wallet management fuelled by non-custodial API technology. The trading tool also uses the open-source smart contract wallet to provide a way superior security level for the non-custodial solution to users.

Bitbot is working on a copy trading feature that would allow investors to copy the trades of the strongest performing wallets based on on-chain activities; predicted to be one of the most popular aspects of the product.

Bitbot raises over $300k in a week

The Bitbot presale is moving on excellently. The team has raised more than $300k a week after the presale began. The presale is currently in its second stage and the team is close to reaching the $410,000 target set for this round.

The new milestone of $300k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.0105 in the current presale round and will increase to $0.011 once the third round commences.

Per the whitepaper, 20% of tokens will be held by the Bitbot development team to fund ongoing development. 14% to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Could Bitbot be a top performer in 2024?

The US SEC has already approved spot Bitcoin ETFs and the Bitcoin halving is 89 days away. These catalysts could help push Bitcoin’s price to a new all-time high this year and the broader crypto market could benefit.

The Bull Run could favour low-cap gems and Bitbot could be one of the biggest winners. Bitbot is putting in the work to become an excellent project for cryptocurrency traders.

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January 24, 2024
US sanctions Bitcoin ETF, NuggetRush set to cross $1.8M in investment
- Bitcoin ETF has become a reality with the SEC approving its listing on major exchanges in the United States.
- NuggetRush is the latest crypto sensation that has raised more than $1.8 million from eager investors.
- As 2024 progresses, both NuggetRush and Bitcoin are expected to perform well this year.
The United States on 10 Jan 2024 decided to include Bitcoin in major investment funds by approving 11 Bitcoin exchange-traded funds (ETFs). By doing this, the SEC has allowed Bitcoin to be bought by a wide range of investors, from big pension funds to regular people.

Cryptocurrency fans are thrilled with this decision because Bitcoin is the best crypto investment to date. The US financial authority had previously turned down such requests, worried about the possibility of fraud and market manipulation. However, they have now given their nod and it’s finally going to be launched soon. Meanwhile, another development that has been the talk of the town is the massive presale success of an emerging altcoin called NuggetRush. It has crossed $1.8 million in investment till now and is considered a good cryptocurrency ICO for this year.

Let’s find out more about the Bitcoin ETF sanction and the hype around the NuggetRush presale.

Why is Bitcoin ETF news exciting for crypto fans?

ETFs are collections of investments that let people invest in various assets without actually owning them. They are sold on stock markets like regular shares, and their value changes based on the performance of the assets they include. An ETF might have different assets, like gold and silver, or shares from various sectors like technology and insurance. Some ETFs already include Bitcoin indirectly. However, a spot Bitcoin ETF will purchase Bitcoin directly at its current DeFi coin price.

Several investment firms, including big names like Blackrock and Fidelity, have been waiting for the SEC’s approval to include Bitcoin in their ETFs. After some discussion over the details, the first approvals have been granted. This has made it the best crypto for beginners who don’t have much knowledge about this industry. It means a new group of investors can now get into Bitcoin without the hassle of digital wallets or crypto exchanges. It’s expected that a lot of money will flow into the Bitcoin market as these financial firms begin to invest.

Some experts think this won’t greatly change Bitcoin’s price, as spot Bitcoin ETFs exist in other countries. However, with big US players entering the market, many believe Bitcoin’s value will go up due to increased demand.

Some people think this decision marks a significant moment, showing that Bitcoin is being taken seriously, at least as the top crypto to invest in.

NuggetRush looking strong as it crosses $1.8M in investment

NuggetRush is a popular play-to-earn gaming cryptocurrency which is considered the best crypto coin for investment. It has been showing impressive strength as it has gathered an investment of over $1.8 million. For those who might not be familiar, play-to-earn (P2E) games are a type of online game where players can earn real money by playing. NuggetRush is one such game that’s catching a lot of attention in the gaming communities.

The price of each NuggetRush token is currently set at $0.018. This is quite affordable and offers a good opportunity for those interested in how to get into cryptocurrency without a huge investment. NuggetRush’s pre-sale is divided into five rounds, and right now, it’s in the fifth round. This means there’s still an opportunity to get in before the presale ends.

One of the exciting aspects of NuggetRush is its expected launch price, which is projected to be $0.020 per token. This suggests that those who invest now during the presale could potentially see a profit when the token goes live. It’s always good to see a potential for profit in any investment, and NuggetRush seems to offer that. This makes it one of the best altcoins to watch out for this year.

In addition to the play-to-earn aspect, NuggetRush also offers something called NFT staking. NFTs, or non-fungible tokens, are a kind of digital asset that represents ownership of a unique item or piece of content. By staking NFTs in NuggetRush, players can earn an extra 20% return. This is an attractive feature for those who are into the trending NFT market and are looking for additional ways to increase their earnings.

Another notable feature of NuggetRush is that it has zero tax on buying and selling tokens. In the world of cryptocurrency, it’s common to see some taxes or fees associated with transactions. The fact that NuggetRush doesn’t impose any tax on transactions makes it one of the best NFT cryptos for youngsters. It means that players and investors can buy and sell tokens without worrying about additional costs eating into their profits.

Conclusion

As the SEC has approved Bitcoin ETF in the United States, a lot of people are now happy. Another milestone is also achieved by a notable crypto coin called NuggetRush in the world of gaming and cryptocurrency. With its entry price of $0.018 per token and the bonus of NFT staking, it’s easy to see why it’s drawing significant investment.

For more information on the NuggetRush presale, visit the NuggetRush Presale Website.

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January 23, 2024
Nasdaq and Cboe eyeing Bitcoin ETF Options, Pullix’s PLX presale nears $4M
- SEC nods propel Bitcoin ETF options trading by Nasdaq and Cboe, marking a significant leap in crypto investment avenues.
- Nasdaq’s BTC ETF options promise cost efficiency, advanced hedging; Analysts foresee hedge fund influx.
- Pullix’s PLX token presale gains traction, introducing a game-changing “Trade-to-Earn” concept, reshaping crypto engagement.
Just when everyone thought that 2024 had seen the most after the recent spot Bitocin ETFs approval by the US SEC, excitement is rippling through the crypto community again as Nasdaq and Cboe gear up for Bitcoin ETF options trading. The two have already filed applications with the SEC and the regulatory authority has recognized the applications.

Simultaneously, Pullix, a hybrid trading platform is promising a new era in decentralized finance.

Nasdaq and Cboe Bitcoin ETF Options trading move

In a screenshot posted on X by James Seyffart, the SEC has already acknowledged the 19b-4s requesting the ability to trade options on spot Bitcoin ETFs.

The SEC has already acknowledged the 19b-4’s requesting the ability to trade options on spot #Bitcoin ETFs. This is faster than SEC typically moves. Options could be approved before end of February if SEC wants to move fast?…

AT ABSOLUTE EARLIEST options still ~27+ days away pic.twitter.com/ohbvHgP2uO

— James Seyffart (@JSeyff) January 19, 2024

Nasdaq’s proposal centres around listing options for BlackRock’s iShares Bitcoin Trust, while Cboe aims to trade options on exchange-traded products (ETPs) holding Bitcoin. Notably, Cboe’s prominent role in launching six of the SEC-approved spot BTC ETFs positions it as a key player in shaping the crypto market.

With positive market responses and efficient tracking of Bitcoin’s price since ETF trading initiation on January 11, options trading is considered the “next logical step,” offering enhanced utility and risk management for investors.

Options trading in BTC ETFs, as proposed by Nasdaq, is hailed for bringing cost efficiencies and advanced hedging strategies to investors. Derivatives provide the right to buy or sell an asset within a specified timeframe, enhancing utility for a broader investor base, including traditional finance sectors.

Analyst Dave Nadig from VettaFi in an interview with CNBC predicted that the introduction of BTC ETF options will attract hedge fund players, fostering increased speculation and diversified investment approaches in the crypto market.

The regulatory waiting game is on, with options approval potentially by the end of February, pending SEC decisions and a 21-day public comment period.

Pullix: unveiling Trade-to-Earn model

Amidst the crypto fervour surrounding Biotin ETFs, The upcoming Pullix trading platform takes centre stage with its innovative model. Pullix introduces a unique “Trade-to-Earn” concept, allowing users holding its native token, the PLX, to earn instant rewards for trading on the platform.

The PLX token’s main USP lies in its revenue-sharing mechanism, enabling holders to profit from the daily revenues generated by the trading exchange. This game-changing approach combines active trading with a guaranteed fixed income, setting Pullix apart in the rapidly evolving crypto space.

The token is currently in its sixth presale stage and is already showing signs of massive support from crypto enthusiasts. At press time, the presale had raised close to $4 million with only five stages sold out.

To participate in the presale and acquire the PLX token ahead of the Pullix platform launch, which is scheduled for before the end of January, you can visit the official Pullix Website.

Conclusion

As the crypto market witnesses a transformative phase with Nasdaq and Cboe expediting options trading on Bitcoin ETFs, Pullix’s PLX presale adds another layer of excitement, introducing a “Trade-to-Earn” model that could redefine user engagement in decentralized finance.

Investors and enthusiasts alike are closely watching these developments, eagerly anticipating the impact on investment strategies and the broader adoption of cryptocurrencies. The convergence of innovative trading platforms and tokenomics marks a significant chapter in the evolving narrative of digital assets.

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January 20, 2024
Grayscale applies for a covered call Bitcoin ETF
- Grayscale Investments files for covered call Bitcoin ETF post-SEC’s GBTC approval.
- Covered call strategy leverages options on Grayscale Bitcoin Trust, targeting income.
- Grayscale’s legal triumph shapes the evolving regulatory landscape for cryptocurrency.
Cryptocurrency asset manager Grayscale Investments continues its strategic moves in the crypto market, recently applying for a covered call Bitcoin ETF.

This comes hot on the heels of the successful launch of its spot Bitcoin ETF, the Grayscale Bitcoin Trust (GBTC). The move signifies Grayscale’s commitment to diversifying its offerings and expanding its presence in the cryptocurrency landscape.

Grayscale continues crypto market forays

Grayscale Investments’ bold move follows the approval of its spot Bitcoin ETF, GBTC, by the US Securities and Exchange Commission (SEC). The covered call ETF is designed to allow investors to generate income from options on Grayscale’s Bitcoin Trust.

The Grayscale Bitcoin Trust Covered Call ETF will involve the strategic sale of call options, enhancing investor yield by combining asset purchases with option writing.

The covered call strategy incorporated in Grayscale’s ETF suits investors anticipating minimal movement in the underlying Bitcoin price over the long term. Investors employing the covered call strategy often have a long-term asset retention plan while seeking to generate income through options trading.

Grayscale’s move to introduce a covered call Bitcoin ETF aligns with the broader industry trend of expanding investment avenues in the cryptocurrency market.

Background: Grayscale’s journey to Bitcoin ETFs

Grayscale’s foray into the covered call ETF space comes on the heels of a complex regulatory journey. The asset management firm had initially faced hurdles when the SEC rejected its application to convert the existing Grayscale Bitcoin Trust into an ETF.

However, a federal appeals court ruled in Grayscale’s favour in August 2023, prompting optimism and paving the way for the recent SEC approval.

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January 12, 2024
Bitwise and VanEck to donate 10% ETF profits following SEC’s spot Bitcoin ETFs approval
- SEC approves spot Bitcoin ETFs: A historic moment for mainstream crypto integration.
- Bitwise and VanEck donate 10% ETF profits to Bitcoin development: Philanthropy meets finance.
- Meme Moguls emerges as the world’s first meme-backed stock market, aiming for 100x growth.
After the US Securities and Exchanges Commission’s (SEC) spot Bitocin approval, Bitwise, a major asset management player, has declared its intention to donate 10% of the profits from its recently approved Bitcoin ETF, BITB, to the development of Bitcoin’s open-source ecosystem.

Bitwise stated that its Bitcoin ETF $BITB would begin trading on 1/112024 with a 0% fee through 7/10/24 (on the fund’s first $1B in assets; 0.20% after).

Today, we are thrilled to announce that the Bitwise Bitcoin ETF $BITB intends to begin trading on 1/11 with a 0% fee through 7/10/24 (on the fund’s first $1B in assets; 0.20% after).

Read the full prospectus & risk disclosures: https://t.co/QBzLCyzkN4 https://t.co/DJI7L1l3DY

— Bitwise (@BitwiseInvest) January 10, 2024

This philanthropic move follows a similar commitment from VanEck, adding a new dimension to the intersection of traditional finance and cryptocurrency. Meanwhile, the emergence of Meme Moguls, a crypto platform integrating memes with trading, promises a unique venture in the crypto space.

SEC approves spot Bitcoin ETFs

In a historic move, the US Securities and Exchange Commission approved spot Bitcoin ETFs, marking a monumental moment in the financial world. This approval opens the floodgates for investors to directly participate in the cryptocurrency market through exchange-traded funds, providing a more regulated and accessible avenue for BTC investment.

This decision triggered a surge in Bitcoin prices, briefly touching the $47,000 mark. Analysts anticipate increased capital inflow into the cryptocurrency space as investors, both institutional and retail, explore these newly approved financial products.

As the market speculates on potential pullbacks, the SEC’s endorsement signifies a growing acceptance and integration of cryptocurrencies into mainstream financial instruments.

Bitwise and VanEck 10% profit donation for Bitcoin development

Bitwise’s commitment to donating 10% of BITB profits to Bitcoin development echoes a similar initiative by VanEck, another prominent financial institution. Both companies pledge to direct a percentage of their ETF profits to support the open-source development of Bitcoin, showcasing a shared vision for the cryptocurrency’s sustained growth.

Bitwise, having filed for a spot Bitcoin ETF five years ago, sees the recent approval as a significant milestone. The company envisions BITB as the ETF best suited for the evolving crypto landscape, and this philanthropic endeavour aligns with its dedication to fostering a robust Bitcoin ecosystem.

Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development.

Recipient orgs:
– @BitcoinBrink
– @OpenSats
– @HRF

Bitcoin is important to the future. We’re excited for $BITB to support its foundation 👇 pic.twitter.com/JMzd4bMOB9

— Bitwise (@BitwiseInvest) January 10, 2024

These donations will benefit organizations such as Brink, OpenSats, and the Human Rights Foundation, emphasizing a commitment to diverse causes within the Bitcoin community. Importantly, these contributions come with no strings attached, ensuring a transparent and altruistic approach to supporting the foundational aspects of the Bitcoin network.

Meme Moguls: where to trade memes

On another front, Meme Moguls introduces a novel concept by merging memes with a trading ecosystem. Positioned as the world’s first meme-backed stock market, Meme Moguls aims to leverage the power of memes for financial gains. The platform offers diverse meme-inspired assets, a trading platform, a fantasy trader game, a casino, and a metaverse world known as Mogul Land.

Participants can accumulate $MGLS tokens by engaging with the platform, staking tokens, and actively trading meme-inspired assets. With a focus on becoming the next 100x token, Meme Moguls aims to create millionaires within the first three months of launch. The ecosystem’s tokenomics, with 60% allocated to the presale, indicates a strategic approach to fueling the platform’s growth.

Is Meme Moguls (MGLS) a good investment?

As the cryptocurrency market continues to witness innovative ventures, potential investors may ponder whether Meme Moguls (MGLS) is a worthy addition to their portfolios especially now that the US SEC has approved spot Bitcoin ETFs for trading.

The platform’s unique features, including a fantasy trader game, a casino, and the promise of creating millionaires, contribute to its appeal. However, as with any investment, individuals are advised to conduct thorough research, considering the inherent risks associated with the cryptocurrency market.

To invest in the Meme Moguls (MGLS) token, you can visit the official website where the token’s presale is currently ongoing. The presale is currently in its fourth stage and the $MGLS token is going for $0.0027.

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January 11, 2024
Gensler issues warning ahead of SEC’s Spot Bitcoin ETF decision
- Spot Bitcoin ETF applicants strategically adjust fees ahead of potential SEC approval.
- Invesco, Valkyrie, and WisdomTree reduce costs to attract investors.
- Gensler’s cautionary note; SEC emphasizes risks in cryptocurrency investments, warning of unique challenges.
As the crypto community eagerly awaits the SEC’s decision on Spot Bitcoin ETFs, recent developments have intensified the competition among ETF providers.

In the midst of the hype, Gary Gensler, the SEC Chairman, has issued a cautionary message, emphasizing the risks associated with cryptocurrency investments. The warning comes amid a flurry of activity from ETF applicants, with some dropping proposed management fees.

The stage is set for a potential revolution in the crypto landscape, but Gensler’s words serve as a stark reminder of the challenges that lie ahead.

Spot Bitcoin ETF applicants compete to slash fees

Various ETF providers are vying for approval of their Spot Bitcoin ETFs, anticipating a green light from the SEC. In a bid to attract investors, providers like Invesco, Valkyrie, and WisdomTree have slashed their proposed management fees. Invesco dropped its fee to 0.39% annually, while Valkyrie and WisdomTree reduced theirs to 0.49% and 0.2%, respectively.

The strategic fee adjustments aim to stand out in a crowded field and potentially lure investors into what is becoming a highly competitive landscape.

This fee-cutting frenzy extends beyond mere reductions, with WisdomTree going a step further by announcing a fee waiver for the initial $1 billion in assets under management. This bold move appears to be a marketing tactic, creating a sense of FOMO (fear of missing out) around WisdomTree’s ETF launch.

Other providers, including Bitwise, ARK/21Shares, Invesco, and iShares (BlackRock), are also adopting similar strategies, offering lower or zero fees for the first months or tranches of AUM.

Gensler’s cautionary note: emphasis on investor protection

Amidst the excitement surrounding potential Spot Bitcoin ETF approvals, Gary Gensler has reiterated the SEC’s concerns about cryptocurrency investments. Quoting an SEC article, Gensler warned potential investors to exercise caution, emphasizing the unique risks associated with crypto securities.

The article cited by Gensler highlights the SEC’s unease about the lack of regulatory protections in the cryptocurrency market compared to traditional securities markets. Gensler’s message serves as a sobering reminder to market participants, urging them to thoroughly research and evaluate the risks before diving into the world of cryptocurrencies.

The juxtaposition of the heated fee completion and Gensler’s regulatory caution sets the stage for a pivotal moment in the crypto space. As the SEC’s decision looms, market participants are waiting with bated breath to see whether the SEC will approve or deny the spot Bitcoin ETF applications. If approved, the price of Bitcoin could see some major upward swings and if denied the opposite could be the case.

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January 9, 2024

TRON Exceeds Bitcoin in Daily Active Addresses

Surprisingly, TRON takes the top spot on the list of cryptocurrencies with the most active daily addresses, with 1,643,580.
It is followed by Bitcoin, which has 867,570 active addresses.
In third place is Litecoin with 754,272 active daily addresses.

Cryptocurrencies are always on the move, constantly changing and evolving. They’re often compared to the wild west of finance, breaking away from the rules of traditional markets.

A new analysis by CoinJournal.net utilised the most recent data available to reveal the cryptocurrencies with the highest average of daily active addresses, either as a sender or receiver of the crypto in question.

The snapshot from December 5, 2023 unveils an intriguing development—TRON outperformed Bitcoin in terms of worldwide daily user engagement.

Rank	Cryptocurrency	Active address count
1	TRON	1,643,580
2	Bitcoin	867,570
3	Litecoin	754,272
4	Ethereum	478,541
5	Stellar	109,897
6	Dogecoin	99,677
7	Bitcoin Cash	93,186
8	Cardano	45,483
9	USD Coin	33,920
10	Ripple	28,201
11	Ethereum Classic	15,472
12	Chainlink	5,021
13	Internet Computer	4,448
14	Dai	2,756
15	Wrapped Bitcoin	1,959

1. TRON (TRX)

At the forefront of blockchain activity on December 5, 2023, was TRON with an impressive 1,643,580 daily active addresses. The TRON network, known for its high throughput and decentralised applications, attracted a substantial user base actively engaging with TRX tokens.

2. Bitcoin (BTC)

Bitcoin, the pioneer of cryptocurrencies, maintained a robust presence with 867,570 daily active addresses. Despite its relatively lower throughput compared to some altcoins, Bitcoin’s widespread adoption and recognition ensured a substantial user base actively transacting on the network.

3. Litecoin (LTC)

Litecoin secured the third position with 754,272 daily active addresses. Known for its faster block generation time compared to Bitcoin, Litecoin’s user-friendly features and efficient transaction processing contributed to its significant presence in daily blockchain activity.

4. Ethereum (ETH)

Ethereum, the pioneer of smart contract functionality, boasted 478,541 daily active addresses. The Ethereum network’s versatility and wide range of decentralised applications facilitated a diverse set of users actively participating in transactions.

5. Stellar (XLM)

Stellar claimed the fifth spot with 109,897 daily active addresses. Focused on facilitating cross-border payments and bridging traditional finance with blockchain, Stellar attracted users seeking fast and low-cost transactions.

Max Coupland, the director of CoinJournal, comments, “The cryptocurrency landscape, characterised by its dynamic nature, has long been dominated by the legacy and influence of Bitcoin. However, TRON’s unexpected triumph signals a potential shift in user preferences and highlights the evolving demands within the crypto community. While Bitcoin continues to command a substantial user base and remains a symbol of decentralised finance, TRON’s surge suggests that users are increasingly seeking platforms that provide more than just a store of value.”