Bitcoin Crypto Signals

2023-12-24 15:03:54 El Salvador's Crypto Pioneering: Bitcoin Donors Earn Fast-Track to Citizenship!

In a trailblazing move, El Salvador's legislature has given the green light to a revolutionary immigration law, offering an express lane to citizenship for international contributors donating in Bitcoin (BTC) to the nation's social and economic development programs. This groundbreaking legislation, officially endorsed on Dec. 20, is proudly championed by President Nayib Bukele's New Ideas party, signaling a paradigm shift in citizenship acquisition.

Bitcoin's Economic Symphony: Riding the waves of Bitcoin's recent surge, surpassing the impressive $44,000 mark, Bukele and his party proudly showcase El Salvador's strategic embrace of the transformative power of Bitcoin. Recent reports underscore the country's Bitcoin holdings surpassing the initial investment by a significant $3 million, showcasing the foresight in adopting digital currency.

Q1 2024 Milestone: Fueled by the success of Bitcoin initiatives, El Salvador is gearing up for a significant milestone, planning a strategic launch in the first quarter of 2024. This visionary move positions El Salvador at the forefront of nations leveraging cryptocurrency for economic growth and cutting-edge innovation.

Crypto-Citizenship Revolution: With the introduction of fast-track citizenship linked to Bitcoin contributions, El Salvador pioneers a modern and progressive strategy, attracting global contributors and fostering socio-economic development in the ever-evolving digital landscape.

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2023-12-24 06:12:51 Coinbase Hits Back: Denies Senator Warren's Allegations on Regulatory Manipulation!

In a firm response, cryptocurrency giant Coinbase dismisses claims from Senator Elizabeth Warren suggesting regulatory interference. Warren implied that Coinbase enlisted former government officials to obstruct digital asset regulations.

Defensive Stand: Faryar Shirzad, Coinbase's Chief Policy Officer, swiftly countered in a letter dated December 22, vehemently rejecting Sen. Warren's accusations. Coinbase remains resolute in its commitment to responsibly and actively advocating for regulatory measures within the dynamic crypto industry.

Holistic Approach: Shirzad clarified that Coinbase's recruitment of government personnel is part of a broader initiative. The overarching goal? Safeguarding the welfare of crypto users across the United States.

National Security Emphasis: The letter proudly spotlighted Coinbase's team of national security experts, highlighting their daily dedication to securing Americans. "We take immense pride in our team of national security experts, who dedicate themselves daily to protecting Americans," the statement emphasized.

Coinbase's robust response underscores its commitment to transparency and responsible practices in navigating the intricate landscape of cryptocurrency regulations. Stay tuned for ongoing updates in this unfolding narrative! #CoinbaseVsWarren #RegulatoryIntegrity

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2023-12-23 15:20:11 Bitcoin ETF Approval Set to Propel BTC Price Beyond $50K: Matrixport

TV commercials are already being rolled out by various ETF applicants, a move that will continue to bolster Bitcoin prices. The report highlights historical parallels, such as the launch of Bitcoin Futures by CME Group in 2017, which saw a significant price escalation preceding the event. During the six-to-seven-week window between the confirmation of the Bitcoin futures launch and the commencement of trading, prices soared by almost 200%.

Matrixport’s research highlights the growing anticipation surrounding the SEC’s decision on spot Bitcoin ETFs, suggesting that the asset could soar above $50,000 if approved. Historical data indicates that Bitcoin typically experiences gradual price increases of around +3% from Christmas to New Year. However, 2011, 2013, and 2020 outliers saw Bitcoin prices rise as much as +22%. As the SEC reviews spot Bitcoin ETF applications, Matrixport notes that TV commercials from multiple ETF applicants are already being rolled out, which is expected to support BTC further. The intensity of these commercials is expected to heighten during the Christmas season as applicants race to become the dominant player in the ETF market.

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2023-12-19 22:00:45 Avalanche users pay $13.8 million in fees for inscriptions over 5 days

Avalanche users paid $13.8 million in transaction fees over the last five days to mint and move tokens and NFTs created with inscriptions. Inscription-based tokens are created by writing text in normal blockchain transactions and using an off-chain numbering system to keep track of them. They were created as a workaround on the Bitcoin network owing to its lack of native support for tokens.

Avalanche, transaction fees spent on inscriptions have risen as high as $5.6 million per day in the last few days, according to a Dune Analytics dashboard created by Hildobby, a pseudonymous researcher at VC firm Dragonfly. The total amount of $13.8 million is roughly 70% of all fees spent on inscriptions across all blockchains tracked by the dashboard. Avalanche has experienced two significant periods of interest in inscriptions. The first, lasting about five days in late November, generated transaction fees totaling approximately $1.5 million. However, fees have been substantially higher in the more recent period. This seems to be largely due to a significant rise in non-inscription transactions during the latter period.

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2023-12-17 21:09:55 Bitcoin Celebrates One Year of Ordinal Inscriptions With 48 Million Mark Hit, Signaling Longevity Despite Ongoing Debate

2023 has seen Ordinal inscriptions gain immense traction, significantly impacting Bitcoin’s ecosystem and vying with other blockchains in the non-fungible token (NFT) space. This journey began almost a year prior, on Dec. 16, 2022, marking the creation of the first-ever Ordinal inscription on Bitcoin’s distributed ledger. These Ordinal inscriptions are a sophisticated process that transforms a satoshi, Bitcoin’s smallest unit, into a distinct digital asset.

Particularly, Taproot’s introduction enabled more intricate transactions and the integration of additional data within a transaction. The essence of the Ordinal inscription process lies in embedding the digital asset’s data into the transaction’s witness section, thereby converting satoshis into unique, non-fungible entities. This innovative process has also facilitated the creation of fungible tokens, known as BRC20s. As of now, on the eve of the first inscription’s anniversary, a total of 48,054,267 inscriptions have been recorded on the chain. In terms of monetary value, miners have amassed approximately 3,697.38 BTC, equating to $158.36 million, for verifying these inscriptions.

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2023-12-16 10:53:48 Chainlink Data Feeds Available on Polygon zkEVM

Developers building on Polygon’s zkEVM will be able to incorporate these data feeds into their on-chain applications. Chainlink, a blockchain data-oracle project, has made their data feeds available to developers using Polygon’s layer 2 zero-knowledge rollup. Data feeds help connect smart contracts to “real-world data such as asset prices, reserve balances, NFT floor prices and L2 sequencer health.”

Developers building on Polygon’s zkEVM will be able to incorporate these data feeds into their on-chain applications, such as liquidity protocols and decentralized exchanges. Data feeds help connect smart contracts to “real-world data such as asset prices, reserve balances, NFT floor prices and L2 sequencer health.”Chainlink, a blockchain data-oracle project, has made their data feeds available to developers using Polygon’s layer 2 zero-knowledge rollup. “This functionality is set to unlock the deployment of several significant DeFi protocols on Polygon zkEVM early next year,” said Marc Borion, CEO of Polygon Labs, in a press release seen by CoinDesk.

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2023-12-15 10:04:27 Total Value of Cardano DeFi Ecosystem Nears $450M Amid Layer 1 Push; ADA Rockets 17%

Value locked on Cardano’s ecosystem grew rapidly in the past few weeks as a recent boost in Ethereum alternatives, such as Solana and Avalanche, is likely pushing crypto investors and users toward other blockchains in search of returns and capital allocation. Djed DJED stablecoin, a token pegged to the U.S. dollar, saw a supply increase of over 45% in the past week – indicative of capital inflows toward the token as investors looked to capitalize on yields.

The total value locked (TVL) of all Cardano-based projects jumped to over $440 million late earlier this week, crossing a previous peak of $330 million set in April. Most growth seemingly occurred over the past week, with lending protocol Indigo and on-chain exchange Minswap seeing their TVL surge by over 50% to nearly $100 million each. Such on-chain growth has boosted the price of Cardano’s ADA token, which is used to pay for network activity. The tokens surged some 17% in the past 24 hours, helping extend monthly gains to nearly 80%, data shows, and a 100% growth in leveraged futures bets on further ADA price volatility in the same period. As such, Cardano’s DeFi ecosystem has surged alongside those of other blockchains.

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2023-12-14 10:13:50 3AC's Su Zhu to be released, faces Singapore court proceedings: Bloomberg

Su Zhu, co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), is set to be released this month following his arrest in September for not cooperating with liquidation efforts, Bloomberg reported, citing sources familiar with the matter. The hearing requires him to respond to lawyers for liquidator Teneo for the first time as it seeks to gather information on behalf of creditors owed $3.5 billion following 3AC’s collapse last year.

The proceedings are a civil matter, and Zhu hasn’t faced any criminal charges in Singapore. Zhu’s legal representatives, the court, and Teneo did not respond to requests for comment from The Block. Su Zhu’s account began posting on X again on Dec. 1 for the first time since Sept. 29, simply writing “gm.” Zhu was apprehended at Changi Airport in Singapore in September while trying to travel out of the country. He was also sentenced to four months in prison but is set to be released this month based on standard provisions for good behavior, the Bloomberg sources said. However, he has not yet been apprehended, and his whereabouts remain unknown.

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2023-12-13 10:09:08 Binance P2P Trading Platform Halts Ruble Support Following Russia Exit

Binance is ending support for the ruble on its peer-to-peer (P2P) trading platform as the firm exits Russia, according to a Monday announcement. Ruble's support on Binance P2P ends on Jan. 31 of next year, but customers can either withdraw their funds before the date or transfer funds to CommEX, Binance Russia's new owner, to continue trading. Customers are free to withdraw or transfer funds and continue trading via Binance Russia's new owner CommEX, the company said Monday.

In September, the world’s largest crypto exchange said it was fully exiting the market and selling its local business to CommEX, which was seemingly launched a day before the sale agreement was announced. The scrutiny over the sale prompted Binance founder Changpeng "CZ" Zhao to clarify he was not the owner of CommEX in the days following the news. The company said in September that it was leaving Russia because being active in the country didn't align with Binance's compliance strategy. Binance recently agreed to pay $4.3 billion to U.S. authorities to settle several charges, including one related to sanctions law. Zhao stepped down as the company's CEO as part of the deal.

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2023-12-12 19:16:49 47% of Nigerians Engaged in Crypto-Related Activities

According to an analysis carried out by Coin Journal, about 47% of Nigerians are actively engaged in crypto, which is now widely seen as an alternative to traditional financial systems. The analysis also showed that crypto ownership in the country grew by 15% between 2020 and 2023. As previously reported by Bitcoin.com News, the central bank moved to vigorously enforce its Feb. 6, 2021 decision, which sought to exclude crypto entities from the banking system.

Max Coupland, commenting on the findings of his firm’s study, said, “The data reflects a significant departure from considering digital assets solely as speculative investments, illustrating a broader transformation in how individuals approach and incorporate cryptocurrencies into their financial lives.” He added that the growth in the use of cryptocurrencies in not just Nigeria but across the world underlines their pivotal role in shaping the future of global finance. Nigerian currency, which accelerated in the second half of 2023, and rising inflation, have pushed residents into digital assets like bitcoin (BTC) and USDT.

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