Monat: Februar 2024

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UK stablecoin and staking regulation likely within six months: Report

  • The UK government expects the country’s stablecoin and staking legislation within six months.
  • Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, said this during an event hosted by Coinbase in London.

The UK government expects new regulations on stablecoins and staking services to roll out in the country within the next six months, Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, has noted.

According to a Bloomberg report, the government is focused on having the legislation in place this year as part of the overall push for regulatory clarity for the crypto sector.

“We’re very clear that we want to get these things done as soon as possible. And I think over the next six months, those things are doable,” Afolami said during an event hosted by Coinbase in London.

Afolami’s comments come as observers point to the government’s plans to have the crypto regulation regime in place before the elections. While he could not provide a specific timeline on when to expect the broader crypto regulations, Afolami agreed that “there’s just a huge amount going on.”

UK’s push for crypto regulation

The government’s timeline for stablecoin and staking regulations looks to align with steps taken in 2023 as the UK pushes to be a global hub for crypto and blockchain innovation. 

Last year, the UK parliament passed the Financial Services and Markets Bill. The Bank of England and the Financial Conduct Authority (FCA) also announced regulatory guidelines for stablecoins in October, with a consultation setting up implementation of the crypto rules starting in mid-2024.

As CoinJournal reported in October, the targeted stablecoin regulation focuses on the fiat-backed tokens’ use in payment chains as well as their issuance and custody.

The post UK stablecoin and staking regulation likely within six months: Report appeared first on CoinJournal.

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Gold ETFs down $2.4 billion in 2024 as BTC and this memecoin soak up liquidity

It’s 2024, and the investment landscape is undeniably shifting – traditional safe havens like gold ETFs are experiencing notable outflows in contrast to Bitcoin ETFs, which have seen a substantial increase in interest since their debut at the beginning of the year. This change suggests investors are exploring new territories, possibly looking for alternatives that promise both security and growth in these uncertain times as we had highlighted in this article.

In this narrative, Galaxy Fox ($GFOX) is also heading to a lucrative road, soaking up liquidity and selling out over 2.7 billion tokens throughout the presale. Why is crypto leaning from gold to $BTC, and how is $GFOX surpassing some of the best altcoins?

Bitcoin vs Gold in 2024

In the year 2024, the difference between investments in gold and Bitcoin has become much more obvious. A total of $2.4 billion has been pulled out of gold ETFs, with the biggest amounts being $230.4 million and $423.6 million from BlackRock’s iShares Gold Trust Micro and iShares Gold Trust, respectively. 

In contrast, Bitcoin ETFs have seen an opposite trend. With record-breaking volumes and a noticeable move towards digital assets, the ten authorized spot Bitcoin ETFs have collected an incredible $3.89 billion in inflows since their inception in early January.

Source: X/Jameson Lopp

 

There has been an even more fundamental shift in investor attitude, and this change is reflected in the figures. Bitcoin has gained 23.5%, reaching a two-year high, while gold, which is usually a safe haven during uncertain times, has fallen 3.4% to a two-month low. The difference shows that investors are starting to see Bitcoin as a good substitute for gold, attracted by its high return potential in the present economic climate.

Bloomberg analyst Eric Balchunas is among many who think this trend might mean more diversification into US stocks and digital assets than a straight shift from gold to Bitcoin. It suggests that investors’ priorities are changing and that digital currencies may soon be considered as good as, or perhaps better than, conventional assets like gold as a store of value.

Investors troop to Galaxy Fox

Bitcoin’s success is directly reflected in the overall crypto market, and the current crypto stats are no exception. Among the top 10 altcoins, Galaxy Fox is a name you’ll often hear from analysts discussing the potential best altcoins.

Galaxy Fox, one of the best crypto ICOs so far, is split into ten separate stages, and at each stage, it gradually raises the value of the $GFOX tokens. This means early investors have the chance to see their deposits grow by 450%, a temptation hardly anyone should miss. 

However, with such a lucrative opportunity, competition arises, and investors have been rushing to soak up the $GFOX tokens at their lowest rate. This has resulted in the presale stages selling out quickly, and currently, $GFOX is on the verge of closing its 8th stage. 

However, the window to step in and buy $GFOX in the 8th stage is still there, though narrow, and if you make it, you secure yourself a 33% gain, as two more presale stages will naturally increase the price of $GFOX. 

Notably, the charm of $GFOX is not only in its rewarding presale but also in its hybrid memecoin/P2E ecosystem, which is fully dedicated to community engagement and will reward you at multiple steps during your participation.

Bottom Line

As the latest market dynamics show, Bitcoin has become the new gold, which means cryptocurrencies as a whole are about to experience more adoption and trust. 

In these directions, experts often suggest identifying low-cap gems with tangible utility and future potential, as those are the best altcoins that would pay off the most in the bull run.

Learn more about $GFOX, visit Galaxy Fox Presale or join the Community.

 

The post Gold ETFs down $2.4 billion in 2024 as BTC and this memecoin soak up liquidity appeared first on CoinJournal.

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BTC hits $52k as halving draws closer: Should you buy more tokens now?

Key takeaways

  • Bitcoin could be heading towards a new all-time high soon as it broke past the $52k mark for the first time since December 2021.

  • The Bitcoin halving is only 66 days away and the market could provide numerous opportunities to investors.

Bitcoin touches $52k for the first time in more than two years

Bitcoin, the world’s leading cryptocurrency by market cap, is having a positive month so far. It rallied by more than 10% last week to touch the $52k mark for the first time since December 2021.

Following this rally, Bitcoin is now only $17k away from the all-time high of $69k it set in 2021. At press time, the price of Bitcoin stands at $51,687 per coin. Investors are already expecting a new all-time high ahead of the next Bitcoin halving event.

The next Bitcoin halving is 66 days away and it could usher in another bullish cycle in the market. 

AltSignals’ adoption continues 

AltSignals continues to gain more adoption in the market after concluding its presale a few weeks ago. The project is set to benefit from the upcoming Bull Run and the surging trading volume in the market.

The Bitcoin halving event is expected to usher in another bullish cycle, with BTC expected to reach a new all-time high. If that happens, trading volume will surge higher in the coming months and years and this could benefit projects like AltSignals. 

AltSignals is using the funds raised from its various presale rounds to develop products for its users. It is a unique project that will use AI and blockchain technology to ease crypto trading and, in the process, help onboard more traders to the market. 

What is AltSignals?

To invest in AltSignals, you need to know what the project is about. AltSignals is a Web3 project that aims to gain adoption beyond the crypto space. It provides services to traders within the broader financial markets, including crypto, forex, stocks, commodities, and indices.

The team explains that AltSignals will make it easier for traders to have access to trading signals and other resources that would help make them better traders. 

After raising $1.8 million from their presale, AltSignals is using most of the funds to develop ActualizeAI. It is an AI solution that will make it easier for people to trade cryptocurrencies and other financial assets. 

The solution works 24/7, generating trading signals and helping traders identify profitable patterns in the market. Furthermore, ActualizeAI helps eliminate some of the obstacles traders face in the market. 

AltSignals is one of the projects that is leveraging the powers of use blockchain technology, AI, natural language processing, machine learning, regression, and predictive modelling, to enhance its services. 

AltSignal’s ASI could rally higher in the coming Bull Run

With the right level of adoption, AltSignals’ ASI token could be one of the gems of this bullish cycle. The token has already been listed on Uniswap and is set to become available on other decentralised and centralised crypto exchanges. 

At the moment, ASI is still trading at $0.01875 per token. However, as the trading volume in the crypto market increases, AltSignals could gain rapid adoption and this could lead to a massive surge in ASI’s price in the coming months and years. 

Should I buy ASI today?

AltSignals is no longer in presale, which means its ASI token is now available to all investors. Its token is already live on Uniswap and will also launch on a few other DEX and CEX in the coming weeks and months. 

Investing in ASI could pay off for early investors as the rising adoption level, upcoming Bull Run, and the launch of some exciting products could see the token record impressive gains in the coming months and years. 

The post BTC hits $52k as halving draws closer: Should you buy more tokens now? appeared first on CoinJournal.

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Crypto FOMO is back as Bitcoin Dogs token sale gains steam

Cryptocurrency investors have embraced the Fear of Missing Out (FOMO) as the crypto fear and greed index has risen recently. The index, which measures the sentiment in the industry, has moved to the greed area of 76, its highest point in weeks. This trend has happened as Bitcoin has soared to over $52,000 and Ethereum is nearing $3,000. This explains why Bitcoin Dogs has raised over $2.5 million in the past few days as you can find here.

Evidence of FOMO in crypto

The main evidence that FOMO has moved back to the crypto industry is that most altcoins have surged in the past few days. It is hard to see the altcoin that has retreated in the past few days. Most of them have jumped even without any news or events.

Kaspa’s KAS token has jumped by more than 10% in the past 24 hours and by 25% in the past 7 days, giving it a market cap of over $4 billion. Further, Minu, a new meme coin has surged by 91% in the past 24 hours.

Other tokens that have done well are those associated with the growing craze of artificial intelligence (AI). This includes tokens like Fetch.ai, SingularityNET, The Graph, and Ocean Protocol have risen by more than 20% in the past 24 hours. These coins have rallied as investors cheer the growth of the industry as evidenced by the strength of the likes of Nvidia and Super Micro Computer.

The other evidence that FOMO has set in is that the volume of cryptocurrencies traded in the Decentralized and Centralized exchanges has jumped in the past 24 hours. It soared by over 30% to over $4 billion. Most of these trades happened in Uniswap, dYDx, Jupiter, and Orca.

Bitcoin Dogs token sale continues

This strength explains why Bitcoin Dogs has seen strong traction in the past few days. Data shows that the cryptocurrency has raised over $2.5 million, making it one of the fastest-growing cryptocurrencies in the world.

Bitcoin Dogs is making history as the first Initial Coin Offering (ICO) on the Bitcoin blockchain. Its developers hope that the network will become the biggest player in the fast-growing Bitcoin ecosystem.

Recently, we have seen this ecosystem grow at an unprecedented rate. For example, its DeFi ecosystem has seen its total value locked (TVL) jump to over $1.5 billion. Some of the most popular players in the industry are Merlins Seal, an event in the Merlin Chain, has seen its TVL surge to over $1.2 billion.

Bitcoin Dogs will create utility for the ODOG token by creating a game and a 10,000 NFT collection that will be powered by Bitcoin Ordinals. You can read this in its white paper here.

Still, there is always a risk that comes when investing in cryptocurrencies, especially those in the presale period. The risk is that the coin could plunge after listing or that the token sale could last for long before going public. Therefore, it is always important for people to use the best risk-management strategies.

The post Crypto FOMO is back as Bitcoin Dogs token sale gains steam appeared first on CoinJournal.

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Bitcoin ETF inflows surge, threatening gold’s reign as store-of-value

  • Bitcoin ETF inflows surge, threatening gold’s dominance.
  • Divergence in fund flows: Bitcoin gains, gold loses.
  • Bitcoin acts as a ‘risk-on’ investment and a safe-haven asset.

In a seismic shift within the financial landscape, Bitcoin is rapidly gaining ground as a store-of-value asset, challenging its traditional counterpart, gold. Recent data reveals a substantial surge in spot Bitcoin ETF inflows, particularly in the United States, setting the stage for a potential challenge to gold’s historical dominance.

This shift not only signals a changing tide in investment preferences but also prompts speculation about Bitcoin’s long-term disruptive potential.

Bitcoin ETFs vs gold: the growing divergence

The past week has witnessed an impressive surge in spot Bitcoin ETF inflows, culminating in a near 10% increase in Bitcoin’s price. Notably, the lion’s share of these new investments is pouring into US-based ETFs, reflecting the increasing importance that these funds play in shaping Bitcoin’s overall performance. Analysts suggest that this uptrend is beginning to reveal a growing divergence between global fund flows into Bitcoin and those into gold.

The data from ETC Group demonstrates a stark contrast in the year-to-date net flows, with Bitcoin ETPs experiencing a substantial increase since the start of February. Concurrently, gold has faced net negative flows, signalling a shift in investor sentiment. BlackRock’s iShares Bitcoin ETF, securing a significant share of last week’s inflows, exemplifies this trend, underlining the rising prominence of Bitcoin in the investment landscape.

Bitcoin’s dual role: ‘risk-on’ investment and safe-haven asset

According to analysts, the top 14 gold ETFs have witnessed a considerable outflow of nearly $2.4 billion since the beginning of the year. 

In stark contrast, the ten leading Bitcoin ETFs have collectively attracted a robust $3.89 billion in inflows. This trend underscores Bitcoin’s dual nature as both a ‘risk-on’ investment and a reliable safe-haven asset.

Market experts anticipate that this trend will persist, with Bitcoin poised to disrupt gold’s role as the primary store of value over the long term. Despite Bitcoin’s current ETP and ETF market cap being dwarfed by gold’s market cap, there’s speculation that driven by price appreciation, Bitcoin could potentially surpass gold’s market cap in the next two years. While Bitcoin currently stands as the newcomer challenging gold’s reign, its growing influence is undeniable, posing a potential threat to the precious metal’s long-standing supremacy.

As Bitcoin continues its ascent, the financial world watches with keen interest, curious to see if this disruptive force will indeed reshape the future of store-of-value assets, signalling a broader evolution in investment preferences on a global scale.

The post Bitcoin ETF inflows surge, threatening gold’s reign as store-of-value appeared first on CoinJournal.