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ForkLog 12 16.05.2024

Institutional Interest: 937 Firms Invest $11 Billion in Bitcoin ETFs in Q1

937 institutional investors allocated $11.06 billion to spot Bitcoin ETFs in the first quarter. In July, Vanguard will be led by Salim Ramji, the creator of IBIT from BlackRock. Experts suggest the company might join the race for Bitcoin-based exchange-traded funds. As of March 31, 937 institutions had invested $11.06 billion in U.S. spot BTC-ETF […]

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ForkLog 6 16.05.2024

Speculators’ Impact on Bitcoin’s Trend Reversal Unveiled by Experts

On-chain metrics — MVRV, SOPR, and realised losses — show a strong correlation with the formation of local lows in a bull market. This was demonstrated by Glassnode. According to analysts, a group of short-term investors is the dominant group realising losses. They decided to support this empirical observation by identifying periods of seller exhaustion […]

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ForkLog 10 15.05.2024

US Inflation Slows, Bitcoin Holds Above $64,000

Annual inflation in the United States slowed to 3.4% in April from 3.5%, aligning with consensus forecasts. On a monthly basis, the consumer price index rose by 0.3%, compared to expectations of 0.4% and the same figure for March. Excluding food and energy prices, the index increased by 0.3% from the previous month and by […]

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ForkLog 11 15.05.2024

Over 1 Million New Tokens Emerge on Blockchains Since April

In the past six weeks, more than 1 million new coins have been created. Of these, over 370,000 were launched on Ethereum, while 640,000 appeared on Solana, according to data from Dune. Number of new coins across various blockchains. Data: Dune. Since April 1, the Ethereum network has seen the creation of 372,642 tokens, 88% […]

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ForkLog 22 15.05.2024

El Salvador Mines Nearly 474 BTC in Three Years

Since 2021, El Salvador has mined 473.5 BTC, valued at approximately $29 million, at a state-run geothermal power plant harnessing volcanic energy, according to Reuters. The country’s national Bitcoin office announced the launch of its own space in the Bitcoin mempool, allowing real-time tracking of the cryptocurrency balance in the state treasury. At the time […]

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ForkLog 8 14.05.2024

Ripple CEO Denies Attacking Tether

Ripple CEO Brad Garlinghouse clarified that his recent comments on the World Class podcast were not an attack on USDT, contrary to how Paolo Ardoino, the head of the stablecoin issuer, portrayed them. I wasn’t attacking Tether…the next words out of my mouth during the podcast were that I view Tether as a hugely important […]

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ForkLog 22 14.05.2024

The Roaring Kitty’s Return Sparks AMC and GameStop Stock Rally

Shares of GME and AMC more than doubled over two trading days following the reactivation of analyst The Roaring Kitty’s X account. In cryptocurrencies, a wave of hype unfolded around meme tokens on Solana associated with the expert. On May 13, shares of GME and AMC surged by 74.4% and 78.4% respectively. The market reacted […]

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ForkLog 11 14.05.2024

Glassnode Advises Caution Amid Potential Bitcoin Sell-Off

On-chain indicators suggest that Bitcoin is experiencing a phase of consolidation and potential correction. Market participants should exercise caution, warned Glassnode. Experts proposed a system of metrics to track market trends and shifts: On-chain activity: an increase in these metrics usually correlates positively with price growth. Profitability: a trend of rising unrealized profits indicates periods […]

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ForkLog 24 14.05.2024

Bernstein: Bitcoin’s Price Plateau Favors Public Miners

Bitcoin’s “flat” price movement post-halving benefits public miners. Major miners have opportunities to increase market share amid declining revenues. The sale of accumulated cryptocurrency reserves by miners remains possible. Analysts at Bernstein believe that Bitcoin’s “almost flat” price movement is ideal for public miners in their competition for hash rate. This is reported by The […]

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ForkLog 12 12.05.2024

ARK Invest and 21Shares Remove Staking from Ethereum ETF Application

ARK Invest and 21Shares have removed the staking provision from their spot Ethereum-ETF application. Franklin Templeton’s CEO predicted a shift of all exchange-traded funds to blockchain. On May 10, ARK Invest and 21Shares submitted an updated application for a spot Ethereum-ETF, which no longer includes a staking provision. In documents dated February 7, the companies […]

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ForkLog 17 10.05.2024

Deutsche Bank Highlights Stablecoin Risks; Tether Responds with Criticism

Analysts at Deutsche Bank Research have suggested that most stablecoins are doomed to lose their peg and disappear. The experts examined 334 pegged currencies since 1800 and found that 49% of such assets failed, with an average lifespan of eight to ten years. The main reasons for these failures were macroeconomic vulnerability, speculation, and governance […]

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ForkLog 37 08.05.2024

Genesis Digital Assets Harnesses Flared Gas for Bitcoin Mining in Argentina

The American mining firm Genesis Digital Assets (GDA) has established a data centre in Argentina to mine the leading cryptocurrency using energy derived from burning associated gas. Initially, the local partner, energy company YPF.Luz, will power 1,200 ASIC miners from a thermal power plant operating on flared gas. The facility boasts a capacity of 7 […]

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