Crypto Agenda for 25 Sunday 2024 Date
We'll be sharing today's daily news and prices of cryptocurrencies.
Daily News
Bitcoin network congestion eases as mempool clears in February
Bitcoin's mempool unclogs in February bringing a breath of fresh air to transaction processing.
Bitcoin's mempool, a holding area for pending transactions, experienced significant congestion in late 2023 and early 2024, with a peak in December. The congestion eased in February, with a decrease in transaction fees and waiting transactions. This improvement coincided with Bitcoin's bullish rally and suggests an enhanced network capacity to process transactions. The reduction in congestion and fees positively influenced investor sentiment, boosting Bitcoin's usability and scalability.
Read More
What is the role of spot Bitcoin ETFs in modern investment portfolios?
Spot Bitcoin ETFs amass $10 billion in AUM in five weeks, marking a pivotal shift in crypto market dynamics.
Spot Bitcoin ETFs have brought in $10 billion in cumulative funds, reviving market engagement last seen in April 2022. Bitcoin's limited supply and scarcity, backed by a powerful computing network, drive its price and impact the entire crypto market. Altcoins revolve around Bitcoin, benefiting from its price increases and providing unique use cases. Institutional capital is driving Bitcoin's price up, with banks seeking SEC approval to offer cryptocurrency exposure to their customers. Bitcoin ETFs give financial advisors the power to allocate Bitcoin, potentially bringing in substantial inflows. Bitcoin's implied volatility has subsided compared to the sharp spike leading to Bitcoin ETF approvals, indicating stabilizing sentiment. However, challenges remain, including GBTC outflows, miner selling pressure, and profit-taking. The SEC's approval of an Ethereum ETF could further boost the crypto market. Bitcoin represents a remedy to the worldwide problem of money erosion, and its acceptance in modern portfolios is growing.
Read More
Why a trustless, multichain approach to web3 demands direct integration
Direct integration through chain key cryptography offers a seamless, trustless future for Web3, bypassing security vulnerabilities and enhancing liquidity access.
The article discusses the need for direct integration between blockchain networks to enable a trustless, multichain approach to Web3. The current fragmentation of the blockchain space hinders collective progress and limits broader adoption.Direct integrations, made possible via chain key cryptography, allow a single network to sign transactions that execute on other chains. This eliminates the need for centralized chokepoints and enables functional, trustless replacements for existing problematic bridges.The benefits of direct integration include faster go-to-market times for projects, more freedom for creative teams to experiment, and improved liquidity and user experience for users.Multichain access, powered by chain key cryptography, will play a key role in making Web3 more accessible and inclusive, enabling a collaborative and interconnected future.
Read More
US agencies pause Biden-sanctioned emergency miner survey following lawsuit
US agencies have agreed to pause the survey for one month.
The Energy Information Administration (EIA) has paused a survey of crypto mining firms following a lawsuit from industry members. The lawsuit claims that the survey is an overreach of authority and that the OMB did not demonstrate that mining is likely to cause public harm. The EIA is concerned that Bitcoin mining could lead to increased energy consumption during high demand periods. The survey was closely linked with the Biden administration and the Democratic party, which have expressed concerns about the energy consumption of crypto mining.
Read More
Never-before-seen Satoshi Nakamoto emails add several details to Bitcoin’s origin lore
The emails were shared as evidence by early Bitcoin contributor Martii Malmi in the Crypto Open Patent Alliance (COPA) vs. Craig Wright trial as part of his testimony.
Newly discovered emails between Satoshi Nakamoto and early Bitcoin contributor Martii Malmi shed light on Bitcoin's origins and Nakamoto's early thoughts. Nakamoto expressed concerns about the legal status of Bitcoin and the need to avoid explicitly promoting it as an investment. He also discussed the creation of one of the first Bitcoin exchanges, Bitcoinexchange.com, and his role as an advisor to the exchange. Nakamoto also distinguished between anonymous and pseudonymous transactions, anticipating controversy around transaction analysis. He discussed mining profits, power consumption, and Bitcoin's potential environmental impact, expressing awareness of the trade-off between economic liberty and conservation. The emails contradict some of Craig Wright's claims about his involvement in Bitcoin's creation, such as the timing of his interactions with Malmi and his knowledge of Malmi's personal information.
Read More
FTX secures court approval to sell 8% Anthropic stake
The sale is expected to add over $1 billion to assets earmarked for repaying creditors.
FTX, the defunct crypto exchange, received court approval to sell its 8% stake in Anthropic Holdings, an AI startup valued at $15 billion. This sale is expected to generate over $1 billion, which will be used to repay creditors. The decision came after addressing objections from customers who argued that the shares were purchased with misappropriated funds. FTX reached a compromise to allow the sale to proceed, with the understanding that these customers could later claim a portion of the proceeds. This sale is part of FTX's efforts to navigate bankruptcy proceedings and maximize returns for creditors.
Read More
CoinMarketCap launches ‘Oscars of Crypto’ to celebrate industry accomplishments
The awards are scheduled to take place between Feb. 21 and March 6.
CoinMarketCap launched the inaugural CMC Crypto Awards to recognize achievements in the crypto industry. The awards will be presented between Feb. 21 and March 6. Winners will be selected based on CoinMarketCap data, expert panels, and community votes. Eight categories will be awarded, including Crypto of the Year, Crypto Leader of the Year, Meme Coin of the Year, and Bridge Builder of the Year. Nominees include Ripple, Solana, Changpeng Zhao, Brian Armstrong, Pepe, Uniswap, Arbitrum, and BlackRock. The CMC Crypto Awards aim to celebrate innovation, leadership, and community engagement in the crypto sphere.
Read More
Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation
Vibrant Finance CEO Jimmy Yin said the move would "make liquidity more efficient and foster cooperation between chains."
Vibrant Finance, a decentralized exchange, has launched on Neon EVM, a Solana-based platform. The DEX uses the Discretized-Liquidity Automated Market Maker (DL-AMM) model to overcome limitations in traditional DeFi exchanges. The DL-AMM model offers precise liquidity allocation and advanced trading features. Vibrant Finance is supported by iZumi, a multi-chain DeFi protocol. Neon EVM is an ideal choice for Vibrant Finance to expand beyond Ethereum, as it simplifies the deployment of EVM-compatible dApps. Ethereum is the largest DeFi blockchain, while Solana's TVL recently surpassed $2 billion.
Read More
Uniswap surges 60% after proposing fee reward mechanism for holders
The DEX's native token UNI hit a two-year high of $12.48 after the proposal was submitted, indicating strong community support.
Uniswap's UNI token surged 60% due to a governance proposal to introduce a fee reward mechanism for holders. The proposal aims to tackle low engagement and incentivize active participation in governance by linking UNI token delegation and staking to a share of the protocol's fee revenue. The community will hold two votes to determine whether the proposal should be adopted. If successful, it could become a reference point for other decentralized protocols seeking to enhance active participation and responsible governance practices.
Read More
Mystery Ethereum whale accumulates $411 million ETH in February amid ETF rumors
Rumors that the whale wallet belongs to Justin Sun are unconfirmed but sophisticated strategies are clear.
An unknown Ethereum whale, wallet 0x7a95, has rapidly accumulated $411 million worth of ETH and stETH since early February, primarily from Binance. The whale's transactions show a deliberate strategy to increase Ethereum holdings, with purchases totaling 112,923 ETH in the past four days. Rumors of a potential spot Ethereum ETF approval may have contributed to Ethereum's recent price surge. Speculation suggests a possible connection between the whale and Justin Sun, but the information is circumstantial. CryptoSlate continues to monitor the wallet for further developments.
Read More
Filecoin surges to new highs fueled by pivotal Solana deal and AI sector growth
Arthur Hayes, BitMEX co-founder, predicted that the digital asset's value could climb to as high as $100.
Filecoin's FIL token has reached a new yearly high, driven by ecosystem developments and the AI narrative. - FIL token price peaked at $8.43, up over 7% in the last 24 hours, making it the only top 25 cryptocurrency to see a green candle.- Filecoin's growth is attributed to a partnership with Solana for decentralized storage, enhancing Solana's data redundancy, scalability, and security.- The AI narrative has also positively impacted FIL's price, with AI-linked tokens gaining traction after OpenAI's AI-powered video generation service and Nvidia's report showing demand for generative AI.- Filecoin reported increased accessibility and demand for its products, onboarding over 1,800 new large dataset clients and 180 clients to Singularity.
Read More
How Bitcoin ETFs, the halving, and bull market is shaping crypto, according to Bitget
Bitget's leadership shares insights on navigating the volatile world of crypto futures.
Bitget's Regional Growth Manager, Jamie Elkaleh, discusses the impact of Bitcoin Spot Exchange-Traded Funds (ETFs), the upcoming Bitcoin Halving in April 2024, and the current bull market on the cryptocurrency market. Bitget's user growth is attributed to initiatives focused on inclusivity and user experience. The company caters to both novice and experienced traders through innovative features and developments. Bitget emphasizes transparency, security, and user education to navigate increasing regulatory scrutiny. This interview offers insights into the future of crypto trading and Bitget's strategic vision for growth and success.
Read More
Prices of Cryptocurrencies (February 2024)
| Symbol | Price |
|---|---|
| STEEM - USDT | 0.2472000 $ |
| BTC - USDT | 51639.900 $ |
| ETH - USDT | 3024.9800 $ |
| BNB - USDT | 380.20000 $ |