Category: Bitcoin

Bitcoin is digital money created in 2009. It lets people send and receive payments directly without using banks. It’s stored on a public network called a blockchain, and only 21 million will ever exist.

Crypto Inflows Surge Post-Election to $31.3 Billion YTD

In brief, to date, cryptocurrency investment products have seen record inflows of $31.3 billion, with $1.98 billion coming in immediately following the U.S. election. Driven by positive market circumstances and political changes, Bitcoin leads these gains, followed by robust investments in Ethereum and other altcoins.

AUM and Inflows Hit Records

Post-election inflows of almost $2 billion into cryptocurrency products increased year-to-date totals to an all-time high of $31.3 billion and worldwide AUM to $116 billion. With $1.95 billion, the U.S. led this increase.

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Bitcoin Leads Investor Optimism

Bitcoin alone attracted $1.8 billion last week, reflecting renewed investor confidence following the U.S. Federal Reserve’s recent rate cut and political shifts, according to CoinShares’ James Butterfill.

Activity on Ethereum and Other Cryptocurrencies

With $157 million in inflows, Ethereum had its best week since the July launch of the ETF. Blockchain stocks saw $61 million, indicating a wider interest in digital assets, while altcoins like Solana, Uniswap, and TRON also profited.

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Prospects for the Future and Analyst Forecasts

Analysts predict that traditional investors would increase their investments in crypto-focused exchange-traded funds (ETFs) after Trump’s victory. Cameron Winklevoss of Gemini forecasts that the price of Bitcoin will rise further, with a target of $100,000 in sight.

In conclusion, with significant inflows and strong anticipation regarding Bitcoin’s future trajectory, the U.S. election and favorable market circumstances have established a bullish tone for the cryptocurrency space.

Bitcoin Boom: Election Day Surge and Six-Figure Speculation

In summary, Bitcoin reached a record high of $80,000 after President-elect Trump’s triumph, igniting investor excitement and forecasts of a possible spike to $300,000. The scenario is prepared for Bitcoin’s potential ascent into six figures, with prominent players such as VanEck CEO Jan van Eck estimating the cryptocurrency’s value at half of gold’s total, and Trump’s pro-crypto policies stimulating the market. This study examines the main factors that contributed to Bitcoin’s ascent, such as election-related factors, Trump’s changing views on cryptocurrencies, and optimistic market projections.

Market Navigator: Bitcoin will continue to hit all time highs, says Jan Van Eck

Bitcoin Reaches New High: $300,000 on the Horizon?

Bitcoin reached a record-breaking $80,000 on Sunday, fueled by a post-election rally following President-elect Trump’s victory and a strong stock market. Investors are now speculating if the cryptocurrency will soon hit the $300,000 mark.

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The CEO of VanEck’s Audacious Forecast

According to Jan van Eck, CEO of VanEck, Bitcoin may one day be worth half as much as gold, or an estimated $300,000. He considers this amount to be a “reasonable base assumption” for the possible growth of Bitcoin.

2024 U.S. Election Sparks Crypto Surge

During the 2024 election, cryptocurrency was a key topic, with the crypto-betting site Polymarket providing a more accurate prediction of the election outcome than traditional polls. Vice President Kamala Harris promised to support digital assets, while Trump’s pro-crypto stance helped secure votes from the digital asset community.

Trump’s Shift in Crypto Strategy

Previously skeptical of Bitcoin, Trump changed his approach after his 2020 loss, embracing crypto to fund his re-election. His campaign efforts included selling NFTs, promoting Bitcoin-themed products, and pledging to make the U.S. a crypto hub. Trump even launched a new coin, World Liberty Fi, with his sons.

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The Predictions of Analysts: A Path to Six Figures?

Between $100,000 to $300,000, according to numerous analysts, Bitcoin will continue to rise when Trump assumes office. Trump’s pro-crypto stance may contribute to Bitcoin’s aspirational trajectory.

Cardano Soars as Bitcoin Nears $80K

An overview

Cardano (ADA) is now a top gainer, exhibiting strong upward momentum in the cryptocurrency market as Bitcoin reaches new highs following the election.

Cardano’s 33% Surge

For the first time in seven months, Cardano (ADA) surged by 33% in a 24-hour period, making it the best performer among the top 100 cryptocurrencies. Reaching a peak of $0.594 earlier today, ADA’s value has significantly increased, with its current trading price at $0.57. Cardano’s market cap now stands at $20 billion, making it the ninth-largest digital currency, with daily trading volume surpassing $2 billion.

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The Record Highs of Bitcoin

Following Donald Trump’s triumph, Bitcoin continued to rise, hitting an all-time high of $79,780 at 05:43 UTC today. Bitcoin is currently selling at $79,000 with a market value of $1.58 trillion and a supply of 19.78 million, as some investors start to take profits.

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Market Overview

The total crypto market cap now stands at $2.85 trillion, rising by $420 billion in the past week. Trading volume across the market has reached $172 billion over the past 24 hours, reflecting heightened investor interest.

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NFT Sales Surge 16.1% to $96.1M as Bitcoin Network Overtakes Solana

In brief

The amount of NFT sales rose 16.1% to $96.1 million as a result of the recent surge in the cryptocurrency market. This rise caused Bitcoin’s blockchain NFTs to surpass Solana’s in terms of overall sales volume. The NFT market is still robust and does well in several chains, even if there has been a noticeable drop in active buyers.

The expansion of the NFT market during the cryptocurrency boom

NFT revenues have increased significantly in sync with the rise of the cryptocurrency market, rising 16.1% to $96.1 million.Important contributing causes include the worldwide cryptocurrency market cap increasing 3.29% to $2.6 trillion and Bitcoin hitting a new high of $77,252.75 following Donald Trump’s victory in the U.S. election.

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Bitcoin NFTs Surpass Solana

Ethereum remains the top NFT blockchain with $31.2 million in sales, but Bitcoin has now claimed the second position, overtaking Solana with $26.3 million in NFT sales—up 93% in a week. Solana dropped to third, while Mythos Chain and Polygon earned fourth and fifth places, respectively.

Highlights of the Collection and Best-Selling NFTs

During a week with significant sales, some of the best-selling NFTs were:

1) $198,680 for SuperRare #7533

2) $154,044 for CryptoPunks #7596

(#142,742) Protoshrooms Additionally, CryptoPunks maintained its high demand, earning several spots among the top-grossing NFTs for the week.

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Bitcoin Soars to $77K Just Days After U.S. Elections

Synopsis

Bitcoin experienced significant increases, reaching a new all-time high of $77,020 just 48 hours after Donald Trump won the election. At $1.5 trillion in market capitalization, Bitcoin has overtaken Meta to rank among the world’s most valuable assets. According to experts, the incoming administration’s pro-crypto policies will continue to fuel the expansion of the digital asset market.

Bitcoin Reaches Record Highs After the Election

Bitcoin jumped to $77,020 on November 8, surpassing its previous peak. This record, which was attained shortly after Trump’s victory, shows that there is increasing hope for the impact of lawmakers who support cryptocurrency in Congress. The current surge has propelled Bitcoin into the top 10 assets globally, with its year-to-date rise presently standing at 118%.

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Proposals for Crypto-Friendly Laws

Get Moving It looks likely that new regulations will boost digital assets now that more pro-crypto lawmakers are in office. One of the initiatives put forth by Senator Cynthia Lummis of Wyoming is the creation of a national Bitcoin reserve. Up to one million Bitcoin might be purchased over the course of five years as part of this scheme, which could strengthen Bitcoin’s position in the American economy.

The Increasing Significance of Crypto in American Politics

The potential of digital assets was proved by the increase in political fundraising during this election that was driven by cryptocurrencies. According to commentators, the incoming administration may offer a more favorable regulatory environment for cryptocurrencies, which might lead to further rise for Bitcoin and other digital assets.

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Galaxy Digital Turns to AI Innovations Amid Bitcoin Mining Challenges

Summary

Galaxy digital, a seemingly huge name in Bitcoin mining is shifting focus to AI amid its rising competition and mining challenges. In its Q3 report, they revealed plans to repurpose their Helios facility in Texas for high-performance AI computing through partnership with a major data center. Galaxy aims to ramp up their power capacity to reach 1.7 GW.

Galaxy digital, a financial services and investments management company which also performs Bitcoin mining has decided to hop in on the trend and shift to AI . Its mostly driven to such path by increasing competition and rising mining difficulty within the whole sector.

In its Q3 reports, Galaxy shared info about them teaming up with a big-time data center called “hyperscaler”, which is rumored to convert its 800MW Helios mining facility in Texas into a high-performance AI hub. At this time only 200MW is active and they’re aiming to boost capacity by adding up to 1.7GW but they need approval from higher-ups to make it possible.

They are not the only ones following this trend, some other big names in crypto mining like Riot Platform and Marathon Digital are also looking to hop on to AI. Core Scientific has already locked in an $8 billion AI deal with CoreWeave over the next 12 years. Analysts say this shift is a major game-changer, to quote: “if Bitcoin miners put 20% of their energy toward AI, annual profits could hit $14 billion by 2027”.

Bitcoin ETFs See $621.9M Inflows as BTC Hits New All-Time High of $76K

Summary

Spot Bitcoin ETFs in the U.S. saw substantial inflows on Nov. 6, with net gains of $621.9 million as Bitcoin hit a new all-time high above $76,000. Fidelity, ARK 21Shares, Grayscale, and Bitwise were among the top funds driving inflows.

Record-Breaking Inflows for Bitcoin ETFs

On Nov. 6, spot Bitcoin ETFs in the U.S. experienced a significant inflow of $621.9 million, rebounding from a three-day period of outflows totaling $712.9 million. Fidelity’s FBTC led with $308.77 million in inflows, followed by ARK 21Shares, Grayscale, and Bitwise, with inflows ranging from $100 million to $127 million.

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High Trading Volumes and Positive Market Response

Several Bitcoin ETFs saw their trading volumes more than double, with BlackRock’s iShares Bitcoin Trust (IBIT) hitting $4.1 billion in trades, its highest volume ever. Despite inflows across most ETFs, BlackRock encountered $69.11 million in outflows, diverging from the overall trend.

Market Hope for Trump’s Pro-Crypto Victory

Analysts are hopeful about future growth in digital assets due to the surge in Bitcoin’s price, which coincided with Donald Trump’s election as president, which was pro-crypto. Asset managers are submitting applications to introduce exchange-traded funds (ETFs) for cryptocurrencies including Solana, XRP, and Litecoin in anticipation of regulatory certainty.

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Trump Victory Creates Over 11K New Bitcoin Millionaires

Synopsis

Because of Donald Trump’s triumph in the 2024 election, Bitcoin values have risen to an all-time high, creating over 11,000 new millionaires.

Bitcoin Wallet Surge

Following Trump’s win, the number of Bitcoin wallets worth $1 million or more surged by 11,487, bringing the total to 132,842. This increase came as Bitcoin prices rose by 7.8% within 24 hours, reaching an all-time high of $75,428. In the past 30 days, Bitcoin saw a 20% increase, with Finbold reporting a significant wealth gain among Bitcoin holders.

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The Impact of Trump on Bitcoin

Trump’s pro-crypto position, which may result in a favorable regulatory environment for digital assets, is credited by analysts with this surge. Investors are looking forward to any policy changes that might further improve Bitcoin’s performance, as Trump’s backing for the cryptocurrency has sparked a newfound interest in the commodity.

Will Bitcoin Increase?

Gert van Lagen and other technical analysts are hopeful. If market conditions continue to be favorable, predictions indicate that Bitcoin might hit $250,000 by the beginning of next year. Bitcoin fans are optimistic that favorable legislation following Trump’s victory could spur additional growth in digital assets.

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Internet Computer Reports 1,230% Surge in Cross-Chain Activity with Chain Fusion Protocol

To put it briefly

The DFINITY Foundation’s 2024 Ecosystem Report highlights the growing importance of blockchain in interoperability, citing a 1,230% increase in cross-chain activity on the Internet Computer’s Chain Fusion protocol. Despite difficulties in the Web3 labor market, the study also reveals a rise in developer excitement.

Major Growth in Cross-Chain Interoperability

The Swiss-based DFINITY Foundation has reported significant growth in cross-chain activity on its Internet Computer (ICP) blockchain platform. ICP’s Chain Fusion protocol, which allows smart contracts to directly connect with other blockchain networks like Bitcoin and Ethereum, saw a 1,230% increase in activity over the past year, according to a press release. The report also shows an increase in developer excitement despite challenges in the Web3 labor market.

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The Chain Fusion Protocol’s Impact on Developer Activity

ICP’s Chain Fusion handled 2,040% more messages in the past year, in addition to the 1,230% increase in activity, suggesting a spike in developer interest and adoption. As seen by the report’s 150% rise in overall network activity and 30% growth in full-time developers on the platform, ICP is positioned as a strong development environment during a slowdown in employment in the Web3 industry.

Direct Bitcoin Integration Increases the Allure of ICP

One of ICP’s most notable characteristics is its direct interaction with Bitcoin, which enables developers to incorporate the security of Bitcoin into decentralized applications without the need for risky “bridges.” Projects like Rainbow Protocol and Tap Protocol have been able to leverage ICP’s smart contract functionality to safely and effectively expand the use cases of Bitcoin by bringing sophisticated financial applications to the network.

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Bitcoin Surges as Election Day Voting Boosts Market Hype

Summary

Crypto prices absolutely spiked Tuesday night, with Bitcoin smashing a new all time high. It managed to get as close as staggering $75K as U.S. election votes rolled in. Analysts believe no matter who sits on the White House, BTC is not backing down. Even so, we might see some short term bumps along the way.

Cryptocurrency prices looking good right now as its market cap spiked this late Tuesday, coincidently U.S. president elections also started the very same day. The top crypto platform Bitcoin even managed to hit its all time high of nearly $75,000 and analysts are strongly claiming bitcoin will continue to surge no matter who wins the sits on the White House but we might expect some minor bumps here and there.

There has always been a lot of uncertainty in the global markets during US election and its no different this time. People have started to become concerned about whether these volatility are short term or not. A renowned financial firm, Bernstein predicts Bitcoin could hit $200,000 in 2025 and that too regardless of the outcome of Tuesday’s election.

Justin Kruger and LMAX expect a stellar performance from Bitcoin during Q4, setting the stage for a record high by reaching as high as $100K by late December. This will result in a solid start of next year for this top crypto token.

There is history of Bitcoin popping up during the time of election. At 2012, Bitcoin’s price skyrocketed about 12000% between Nov. 5, 2012 and November 2013. Following next election in 2016, it got about 3,600% surge by December 2017. At 2020, even midst of covid, Bitcoin railed 478% in 12 months following the election. Considering these trends experts predict this time it could reach almost $103K by the end of Q4.

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