Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
U.Today has prepared a summary of the top three news stories over the weekend.
The Securities and Exchange Commission has given the green light to two cryptocurrency ETFs
According to Nate Geraci Share X As of Friday, December 20, the U.S. Securities and Exchange Commission (SEC) Approved Two Bitcoin/Ether exchange-traded funds (ETFs) proposed by Hashdex and Franklin Templeton. As stated in the consent order, these products are “substantially similar” to previously based ETFs based on Bitcoin and Ethereum. It will be interesting to see if other major financial firms, like BlackRock, will try to launch similar products after this approval, Geraci wrote in a subsequent post. In response to Geraci, Bloomberg's Eric Balchunas Suggested The recently approved ETFs are likely to launch in January. As a reminder, the Securities and Exchange Commission (SEC) greenlit several Bitcoin ETFs in early 2024, paving the way for a major rally in the cryptocurrency market. Previously, U.Today reported that U.S. Bitcoin ETFs have now surpassed Satoshi Nakamoto's total holdings.
Samson Mow on Bitcoin collapse: “Supply shock is coming”
Last week, Bitcoin saw significant volatility, with the asset reaching an all-time high of over $108,000 before falling to the $95,587.68 level. Despite the notable accumulation of Bitcoin by major companies, including the $1.5 billion purchase of MicroStrategy, the price of Bitcoin has continued to decline. Samson Maua prominent Bitcoin supporter and CEO of JAN3, took to social media to address the crypto community's concerns regarding the paradox of high demand amid falling prices. In his country Share XMo explained the current situation as “the market is acting irrationally with the remaining limited supply of Bitcoin.” In conclusion, the CEO urged investors to trust their instincts and warned of an impending supply shock to the market. At the time of writing, Bitcoin is trading at $93,950, down 2.10% over the past 24 hours, according to CoinMarketCap.
Related to
200 Million Dogecoin Stuns Binance in Big Move
As stated By Whale Alert blockchain, On December 20, a major transfer of Dogecoin occurred, bearing 200 million doge From an unknown wallet to Binance. The value of this quantity of dog-themed coins is estimated at approximately $59.9 million. Such large transfers to cryptocurrency exchanges can indicate various intentions, including potential trading or selling activities. Also, this move could be part of preparations to provide liquidity on Binance; However, the specific purpose of this deal remains unclear. On December 19, Dogecoin fell below the 50-day simple moving average at $0.36, reaching lows of $0.262 in the Friday session before rebounding strongly. Currently, DOGE is trading at $0.309, down 0.56% over the past 24 hours, with its value falling approximately 23% over the past seven days. If the price continues to decline, Dogecoin could drop to as low as $0.23.
Source link