Author: Finbold
New data has highlighted the significant role of institutional investors in Bitcoin transactions as the asset continues to experience wild price swings. Currently, institutions account for over 99% of all Bitcoin volume emanating from transactions valued at over $100,000, data provided by IntoTheBlock indicates. The report notes that institutional interest in crypto accelerated from the third quarter of 2020, where the share for large transactions has never dropped below 90%. Notably, from 2020 Q3 institutions like PayPal (NASDAQ: PYPL) and Tesla (NASDAQ: TSLA) ventured into Bitcoin, culminating in several all-time highs across 2021. Elsewhere, companies like MicroStrategy and Tesla are leading the way in investing billions…
As cryptocurrencies become more widely accepted in the mainstream and under the effect of significant geopolitical changes, their trading volume is witnessing a steady increase. Most recently, this growth has been most visibly experienced by Bitcoin (BTC), with an average daily trading volume that has surpassed Apple (NASDAQ: AAPL) by nearly 60%. According to data acquired by Finbold, the average daily trading volume during the observed one-month period leading up to March 9, 2022, was $15.6 billion. These calculations are based on the average trading volume of Apple’s shares per day/session which, per YCharts data, amounted to 94 million, and…
At the heels of the United States President Joe Biden signing an Executive Order addressing the government’s stand on cryptocurrencies, Wyoming Republican Senator Cynthia Lummis has announced that she was preparing a new bill that would integrate digital assets into the financial system. Ms. Lummis, who is one of the most vocal cryptocurrency advocates in Congress, took to Twitter on March 9 to announce that she was putting the final touches to the bill with key advocates and partners in the Senate and that it was “almost ready”: “It’s been a long time coming, but my bill to fully integrate…
Charles Karony, until recently the Vice President of Operations at SafeMoon, an altcoin project on the Binance Smart Chain (BSC), has decided to step down from his function. Mr. Karony announced his decision in a tweet on March 8, citing his wish to complete his college degree. In a series of follow-up tweets, Mr. Karony thanked the team at SafeMoon and the entire token community known as the SafeMoonArmy, praising their accomplishments, and promising to stay “committed to the bright future in store for SafeMoon.” He even threw in a little joke at the end: “This is not the last…
As the headline-grabbing litigation between Ripple (XRP) and the Securities and Exchange Commission (SEC) moves forward, more information has come to the forefront. A recent document, shared by attorney Jeremy Hogan in a tweet, suggests that the blockchain payment company expects the lawsuit to end between August 26 and November 18, 2022. According to the document, Ripple has requested the rescheduling of the pending class action from the previously agreed date of August 26, 2022, to November 18, 2022, clarifying that: “Due to the overlap of factual and legal issues between this case and the SEC action, the parties agree…
More than 800,000 non-fungible tokens (NFTs) have been minted using NFT MAKER (NMKR), the first-ever public ‘Mint-on-Demand’ tool run on the Cardano (ADA) blockchain. The NFT-making platform broke the major news in a tweet on March 6. One of the crypto projects using the platform to mint its NFTs is CardanoPeakz, with digital collectibles that represent the world’s mountain tops, such as Mt. Everest, Nanga Parbat, and Denali. Replying to the tweet, the project also announced the addition of even more NFTs. NFT MAKER was launched as a way to reduce the entry barrier to NFTs for end-users, artists, and brands. To this end, it has created…
Using the financial systems as a weapon against enemies may backfire on advanced economies, costing them their ‘risk-free’ status, believes former Federal Reserve trader Joseph Wang. In a tweet and article from March 7, he said that he didn’t believe this to be enough to break the global currency order for now, but: “This regime change can force a wild scramble into stores of value outside of the banking system including gold, real estate and even crypto.” As the Russian invasion of Ukraine intensifies, many western governments and financial institutions have imposed financial sanctions on the invading country in an effort to put a…
American multinational energy corporation Chevron has filed a new metaverse-related trademark for its name and logo with the United States Patent and Trademark Office (USPTO). The applications were filed on March 2, 2022, indicating the energy giant’s plans to expand into the metaverse and offer branded non-fungible tokens (NFTs), as well as gas, renewable energy products, and convenience store products in the form of digital commodities. Licensed trademark attorney Michael Kondoudis broke the news on Monday, March 7, adding that: “Chevron clearly sees the potential of the Metaverse and is preparing its trademark for the coming economy of virtual goods and services.” NFTs expand into major…
Despite the fact that Bitcoin (BTC) is still far from the all-time high it reached in November 2021, the asset, according to some, is showing divergent strength, especially when compared to the stock market. Bloomberg senior commodity strategist Mike McGlone previously had highlighted that the markets are way overdue for a pretty significant correction, most notably in terms of equities, but recently noted on March 4 that Bitcoin “shows divergent strength.” Furthermore, Mr. McGlone said that “Digital Gold” is poised to triumph, noting Bitcoin will be subjected to deflationary pressures after the peaks of 2021. He added Bitcoin may be evolving global digital collateral, given its losses…
MyDoge Wallet, a dedicated wallet app for the meme-inspired Dogecoin (DOGE), has just been released to iOS users. The news was broken by Dogecoin’s co-founder Billy Markus in a tweet on March 4. Markus also said that the non-custodial wallet app wasn’t created by the Dogecoin team. Instead, its creation was entrusted to a group of independent developers. According to a tweet by the MyDoge Wallet team, the app supports transfers of DOGE to the wallet from any cryptocurrency exchange and other crypto wallets, including Robinhood and Coinbase. Users can run the app on iPhone, iPad, and iPod Touch devices using iOS 12.0 or above. It can also be fired up on…