Blockchain
Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says
The recent market rebound witnessed a widespread increase in cryptocurrency prices, with nearly all cryptocurrencies in the Coindesk Market Index experiencing gains over the past 24 hours. Notably, funding rates for certain altcoins and memecoins plunged into deeply negative territory, potentially setting the stage for a rapid upward movement driven by a short squeeze, as highlighted by QCP Capital.
Bitcoin approached the $67,000 mark, marking a 3% surge over the past day following its quadrennial halving event, which halved the issuance of new supply. Meanwhile, Ether remained steady around $3,200, showing a modest 1.5% increase during the same period.
The positive momentum extended across the crypto market, with 163 out of 173 cryptocurrencies in the CoinDesk Market Index posting positive daily returns. The CoinDesk 20 Index (CDI) surged over 3%, with Near Protocol’s native token (NEAR) leading the gains with a 15% increase.
Digital asset-focused stocks also witnessed a rally, with shares of crypto exchange Coinbase (COIN) and MicroStrategy (MSTR) climbing 7% and 12%, respectively. Publicly listed miners Riot Platforms (RIOT), Hut 8 (HUT), and Marathon Digital (MARA) also saw significant gains ranging from 6% to 20%.
While some analysts express caution regarding potential market weakness in the short term due to miners offloading their BTC inventory following the halving event, historical patterns suggest a potential exponential increase in bitcoin’s price in the coming weeks. QCP Capital highlights the cooling off of funding rates, particularly for leveraged derivatives traders, which could trigger a short squeeze, especially for altcoins and memecoins with deeply negative funding rates, potentially leading to a resurgence in speculative sentiment and a resumption of leveraged long positions.
Source: coindesk.com
The post Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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