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Geneva, Switzerland, May 22, 2024 – TRON DAO, a leading innovator in blockchain technology, showcased its prowess as a Silver Sponsor at the prestigious DC Blockchain Summit held in Washington DC on May 15, 2024. This pivotal event gathered the most influential figures in blockchain and digital assets to engage with top policymakers and regulators, shaping the discourse on the future of...
Quick Take
A report compiled by wealth management firm Incrementum, shared by Tuur Demeester, a researcher at Adamant Research sheds light on the growing institutional interest in Bitcoin. The research, titled “The New Gold Playbook,” highlights the increasing resemblance of Bitcoin to gold, supported by various charts.
Incrementum’s data show that central bank gold holdings have risen, and US...
Bitcoin dropping below $60,000 at the beginning of May spooked the market and led to significant volatility across trading products. However, despite the massive volatility in derivatives, the spot market seems to have led most of this recovery, with volumes and inflows helping stabilize BTC at around $66,000 in mid-May. After a choppy few days where BTC struggled to break through $66,000, we saw...
Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), issued a statement on May 22 expressing strong opposition to the Financial Innovation and Technology for the 21st Century (FIT21) Act.
The FIT21 Act is widely celebrated for offering regulatory clarity to the crypto industry. However, Gensler has criticized it, arguing that the bill would weaken current consumer...
Quick Take
According to Newhedge data, Bitcoin’s difficulty is set to adjust tomorrow at around 9 am GMT on May 23, with a slight increase expected, just under 1%. This adjustment is significant as it follows the recent Bitcoin halving. The previous adjustment saw the largest difficulty drop since 2022 due to a decline in the hash rate, which fell approximately 12% from peak to trough.
However,...
Grayscale’s Ethereum Trust (ETHE) discount has shrunk to under 10%, its lowest level since 2021, amid growing expectations for approving a spot Ethereum exchange-traded fund (ETF).
As of May 21, market data from YCharts shows the ETHE discount rate has narrowed to 6.66%. The “discount” indicates when ETHE shares trade below their net asset value (NAV).
ETHE Discount or Premium. (Source: YCharts)...
WisdomTree has received approval from the Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange. This approval allows WisdomTree to introduce the WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs, targeting the May 28 lifting of UK restrictions. These ETPs, available exclusively to professional investors, have a management...
Quick Take
Ethereum has skyrocketed 20% over the past five days, fueled by speculation that a highly-anticipated Ethereum ETF has a 75% chance of approval. This has driven increased activity in Ethereum futures markets, with open interest (the total value of open futures contracts) hitting a one-year high of 3.6 million ETH, up 25% from May lows, according to Glassnode data.
Ethereum Futures Open...
Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) has prohibited Worldcoin from collecting data in the region due to privacy violation concerns, according to a May 22 notice.
The privacy regulator alleged that Worldcoin collected iris and facial images from 8,302 residents using an iris-scanning device. This data collection aimed to verify user identity and generate iris...
Quick Take
Farside data shows that on May 21, the Bitcoin (BTC) exchange-traded funds (ETFs) collectively accumulated $305.7 million, marking the largest single-day inflow since May 3.
Despite the impressive overall figure, the breadth of inflows from ETF issuers remained relatively narrow, with only two issuers contributing to the surge. BlackRock’s IBIT ETF accounted for the lion’s share,...