The price of digital gold fell below $26,000, the major cryptocurrency exchanges listed the Sei (SEI) token, Europe launched the first spot Bitcoin ETF, and other events of the week.
Bitcoin slips below $26,000
Over the week, Bitcoin traded below the $26,000 mark. Analysts attributed this to Elon Musk’s SpaceX selling Bitcoin, the Evergrande crisis, and a sell-off by a large market participant.
Bitcoin was trading at around $26,000 at the time of writing.
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All top-10 assets by market cap finished the week in the red. The biggest losers were Dogecoin (-16.1%) and XRP (-14.5%).
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Total cryptocurrency market capitalization is $1.1 trillion. Bitcoin dominance index stood at 49%.
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Sei token appeared on Binance, Coinbase and Huobi
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Major Bitcoin exchanges, including Binance, Coinbase and Huobi, listed the Sei (SEI) project token. According to the project tokenomics, the circulating supply is 1.8 billion out of a total issuance of 10 billion.
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Alongside the listing, Sei representatives announced a real cross-chain airdrop. In the community there was discontent with the modest rewards. The platform allocated 3% of the total issuance — 300 million SEI.
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First spot Bitcoin ETF launched in Europe
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British firm Jacobi Asset Management launched the first Europe-based exchange-traded fund backed by Bitcoin. The instrument was listed on Euronext Amsterdam under ticker BCOIN.
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The product is regulated by the Guernsey Financial Services Commission. The Jacobi FT Wilshire Bitcoin ETF is positioned as the first digital asset fund compliant with Article 8 SFDR thanks to its decarbonisation strategy.
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The instrument includes a solution for certifying renewable energy sources. It allows institutional investors to access Bitcoin’s advantages while meeting ESG goals. ESG.
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What to discuss with friends?
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- A Chinese resident was sentenced to nine months for purchasing 13 000 USDT.
- The American crypto magnate was found dismembered in Bulgaria.
- The Grand Theft Auto developer will launch an Ethereum game.
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Delphi Digital co-founder foresaw a new Bitcoin high post-halving
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Delphi Digital co-founder and head of research Kevin Kelly saw signs of an early bullish rally in the current digital-asset market.
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According to him, the typical crypto cycle begins when Bitcoin reaches its historical maximum, followed by an 80% drawdown. About two years later it recovers to its previous ATH and continues to rise to a new. The cycle lasts about four years.
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Former SEC official rules out approval of a spot Bitcoin ETF
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The Commission will not approve a spot bitcoin ETF for a number of weighty reasons. This conclusion was reached by former agency lawyer John Reed Stark.
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In his view, a Republican presidential victory could change the situation. The agency would become much more friendly to the industry.
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Also on ForkLog:
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- A Satoshi-era Bitcoin wallet moved 1005 BTC.
- Stability AI launched a free ChatGPT alternative.
- Coca-Cola launched an NFT collection on the Base network.
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Binance shut down Binance Connect platform
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The cryptocurrency exchange Binance shut down the fiat-to-crypto platform Binance Connect (Bifinity). In Biswap’s view, the reason was the termination of card support by partners.
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The service was launched in March 2022. It connected companies, sellers and consumers with the world of cryptocurrencies and blockchain technology. The platform supported over 50 digital assets and popular payment methods and schemes like Visa and Mastercard.
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Justin Sun discussed accumulating 100,000 BTC
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The Tron co-founder Justin Sun called himself a “Bitcoin advocate” and said he held more than 100 000 BTC.
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He also noted that total commissions collected in 2022 on the Tron network were higher than on Bitcoin’s blockchain.
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What else to read?
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This week in the new episode of the DAO Politics podcast they discussed the possibility Network States, reviewed the main features of the buzzed-about Worldcoin project Worldcoin, recalled the problematic areas of DeFi and found out where Chinese AI began.
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In the traditional digest we gathered the week’s main cybersecurity news cybersecurity.
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The cryptocurrency industry is attracting an increasing number of institutional players. This is evident from new investments in infrastructure, and the growing attention that companies pay to Bitcoin as an asset class. The most important events of recent weeks are in the review ForkLog.
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