Monat: März 2024

• Bitwise applies for Ethereum ETF emphasizing spot trading but omitting staking features.
• Bitbot presale raises over $1.6 million, BITBOT tokens currently going at $0.0134.
• Next Bitbot presale stage expects BITBOT price to rise to $0.0141.

Bitwise Asset Management has taken a bold step forward in the cryptocurrency market by applying to an Ethereum Exchange-Traded Fund (ETF), despite facing regulatory challenges.

At the same time, Bitbot, a new Telegram bot, is also making waves as its token presale quickly sells out through its presale stages.

Bitwise’s application for an Ethereum ETF

Bitwise filed its S-1 form with the U.S. SEC for what it is calling the Bitwise Ethereum  ETH ETF with the SEC on Thursday. The application marks a significant milestone in the company’s journey into the cryptocurrency investment space. 

The Ethereum ETF application includes a comprehensive correlation analysis between Ethereum and Bitcoin, highlighting similarities in market dynamics and bolstering the case for Ethereum ETF approval.

Following the approval of its spot Bitcoin ETF, Bitwise aims to replicate its success with Ethereum.

The company’s decision to venture into Ethereum ETFs underscores its confidence in the potential of Ethereum as a viable investment asset.

Unlike some competitors, Bitwise’s proposal focuses solely on the spot trading aspect of Ethereum, omitting mention of staking features present in other ETF filings. This strategic differentiation aims to streamline the approval process and position Bitwise uniquely in the competitive ETF landscape.

Bitbot: empowering crypto trading with innovative features

In parallel with Bitwise’s Ethereum ETF endeavours, Telegram continues to innovate in the cryptocurrency trading sphere with its new trading bot Bitbot.

Bitbot is a non-custodial Telegram trading bot designed to democratize access to advanced trading tools for users of all experience levels.

With features like automated sniping, limit orders, copy trading, and yield optimization, Bitbot provides users with institutional-grade trading capabilities directly from the convenience of Telegram.

Central to Bitbot’s ecosystem is its native token, BITBOT, which serves as a utility coin offering holders various benefits.

BITBOT holders enjoy revenue sharing, exclusive access to presales, unique perks, and governance rights, empowering them to participate actively in Bitbot’s strategic direction.

Bitbot presale 

Bitbot’s ongoing presale has garnered significant attention and support from the crypto community.

With over $1.621 million raised thus far, the presale demonstrates strong investor confidence in Bitbot’s vision and capabilities.

In the current presale stage, BITBOT tokens are available at $0.0134, offering investors an opportunity to secure their stake in Bitbot’s ecosystem at an attractive rate.

Looking ahead, the next presale stage presents an opportunity for investors as the price is expected to rise to $0.0141.

With Bitbot’s innovative features and promising roadmap, the presale serves as a gateway for investors to become early adopters and contributors to Bitbot’s continued growth and success.

The post Bitwise applies for Ethereum ETF; Bitbot presale gathers steam with price expected to rise to $0.0141 appeared first on CoinJournal.

• Sam Bankman-Fried has been sentenced to 25 years in prison. 
• FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

BREAKING‼️ Disgraced FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison

+Ordered forfeit more than $11 billion pic.twitter.com/JwOtDYODFg

— Bitcoin Archive (@BTC_Archive) March 28, 2024

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

“The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

• Ethena Labs has announced that the ENA airdrop is set for April 2, with trading on exchanges also open.
• Eligible Shard Campaign participants will be airdropped tokens amounting to 750 million, or 5% of ENA supply.

Ethena Labs is set to mark the next step in its decentralization with one of the biggest airdrops in the crypto market.

The Ethena Labs team announced that the highly anticipated ENA token airdrop happens next week, on April 2. Trading on crypto exchanges also opens on the day.

Per the update, the DeFi protocol’s community will receive a distribution of 750 ENA tokens, which represent 5% of the total supply of 15 million ENA tokens.

ENA distribution follows Ethena’s mainnet launch in February and marks the end of the project’s “Shard Campaign”.

Users’ engagement and accumulation of “shards” ends on April 1, allowing the community to claim ENA tokens from April 2.

ENA airdrop: Who’s eligible?

According to an announcement from Ethena Labs, airdrop eligibility will be pegged on users’ shards accumulation up to the snapshot date on April 1. During this program, the USDe stablecoin’s supply rose to over $1.38 billion.

Participants must have held onto their staked USDe to qualify. Unstaking or selling USDe before this date will see participants become ineligible for the ENA airdrop.

However, following an exploit on DeFi protocol Prisma Finance, a “21 day lock on the mkUSD<>USDe pool on Ethena” was lifted. The exploit on Prisma on Thursday saw more than $10 million in assets stolen and the Ethena team acknowledged the need to allow users immediately withdraw their funds.

“Users will not lose any shards or accrued rewards for withdrawing from this pool,” Ethena Labs posted on X.

We are aware of the ongoing issues with our friends at @PrismaFi

The 21 day lock on the mkUSD<>USDe pool on Ethena has been lifted with immediate effect so users can withdraw as required

Users will not lose any shards or accrued rewards for withdrawing from this pool https://t.co/NEGXegqMVp

— Ethena Labs (@ethena_labs) March 28, 2024

Notably, the top 2,000 wallets eligible for the airdrop will receive 50% of their allocation and have the other 50% subject to a 6-month vesting schedule.

The remaining wallets, which are currently eligible for smaller allocations, are set to enjoy the full liquidity of airdropped tokens starting April 2.

The post Ethena Labs announces 750 million ENA airdrop for its community appeared first on CoinJournal.

• BlackRock CEO Larry Fink believes a spot Ethereum ETF is possible even if SEC designates ETH a security.
• Markets are upbeat amid this outlook despite current weakness.
• Meanwhile, investors eyeing new gems have identified new token Algotech (ALGT).

BlackRock CEO Larry Fink has noted his bullish stance on Bitcoin, with the global asset management behemoth seeing massive uptake for its iShares Bitcoin Trust (IBIT) spot Bitcoin ETF. Fink is also optimistic about a spot Ethereum ETF.

What does this mean for Ethereum price? Elsewhere, why is the new decentralized trading platform Algotech (ALGT) attracting so many investors to its presale?

Larry Fink on potential spot ETH ETF

In comments on Wednesday, BlackRock CEO Larry Fink said that designating ETH a security won’t be “deleterious”, noting that an ETH ETF was still possible.

Various analysts have noted that a spot Ethereum ETF nod from the SEC is unlikely in May. 

However, Fink’s comments align with the broader anticipation that this will eventually get an approval. As such, the BlackRock CEO’s remarks saw a slight flip for Ethereum and other altcoins late Wednesday.

Ethereum price rose slightly to above $3,658. However, it remains choppy amid recent news around the Ethereum Foundation.

The outlook was similar across the altcoin market, except for Dogecoin and Bitcoin Cash.

DOGE and BCH were seeing double-digit gains, perhaps helped by the anticipated Coinbase listing of Dogecoin and Bitcoin Cash futures trading on April 1, 2024. 

Crypto traders are eyeing the futures listing. Interest in new crypto project Algotech is also rising.

Why is Algotech (ALGT) attracting investors?

The crypto world offers multiple opportunities, particularly in the trading space. However, many people around the world are unable to tap into this due to various reasons. One of these is the complexity of the trading market.

Algotech is a new trading platform that seeks to level the playing field, tapping into AI and machine learning to open up opportunities for everyone.

The algorithmic crypto trading platforms offer intelligent trading strategies. The AI-powered platform removes the limitations associated with manual trading, including limited analytics, inconsistency in execution and human emotions and biases.

All these factors make crypto trading on traditional platforms largely unappealing for the ordinary user. Algorithmic platforms change this.

Advanced algorithms allow for real-time access and analysis of markets, datasets and trends. Leveraging the automated platform means users can make informed decisions related to the opportunities available.

With Algotech, users will tap into speed and efficiency, data-driven decision-making and real-time market data. It’s one platform likely to change the crypto trading landscape big time.

Should you buy ALGT today?

The token powering the Algotech ecosystem is ALGT.

According to the Algotech whitepaper, the total supply of ALGT is 350 million. 70% of this is available in presale. The project has raised over $3.3 million from early investors so far, with more than 84.9 million tokens sold.

For a project likely to dominate given its robust technical infrastructure, tokenomics, roadmap and future dominance, the sub-cent presale prices might offer a great entry point.

Currently, the presale is in stage 2, which is 92% sold out with ALGT price at $0.06. Presale participants can access a 20% promotion bonus on all deposits in this stage. Meanwhile, the next stage will see ALGT price rise to $0.08.

Learn more about Algotech here.

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