Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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BitPay expands crypto offerings; now supports for UNI, BNB, LINK, and More

  • BitPay expands crypto support, adding UNI, BNB, LINK, CRO, VERSE, BAT to its roster.
  • CEO Stephen Pair underscores commitment to user-friendly crypto payments.
  • Users to enjoy versatile options, from luxury purchases to practical expenses.

BitPay, initially established as a Bitcoin-focused payment startup, has broadened its horizon beyond Bitcoin (BTC) by adding support for “dozens” of additional cryptocurrencies. Notable tokens like Uniswap (UNI), Binance Coin (BNB), Chainlink (LINK), Cronos (CRO), VERSE, and Basic Attention Token (BAT) are now included in the platform’s extensive list of supported digital assets.

CEO Stephen Pair emphasized the company’s dedication to simplifying crypto payments, aiming to make them accessible to a broader audience. This strategic move aligns with the evolving demands of the digital currency market, showcasing BitPay’s commitment to user diversity and the need for greater accessibility in the crypto landscape.

This expansion caters to a growing trend within the web3 space, where companies are increasingly embracing a range of digital tokens beyond Bitcoin. Recognizing the importance of user choice and accessibility, BitPay is positioning itself as a leader in the evolving digital economy.

Versatile crypto payment solutions

BitPay’s commitment to inclusivity extends beyond mere token support. Users can now leverage their cryptocurrencies for a variety of purposes, from purchasing goods at renowned merchants like Gucci and Ralph Lauren to practical expenses such as car and mortgage payments. The company’s portfolio continues to expand with added support for tokens like Cronos and Basic Attention Token, further enhancing the utility of digital assets in everyday transactions.

BitPay’s strategic expansion into supporting a wide range of cryptocurrencies signifies a pivotal milestone. The move caters to the diverse preferences of crypto users, positioning BitPay as a pioneering player ready to shape the future of digital transactions.

The post BitPay expands crypto offerings; now supports for UNI, BNB, LINK, and More appeared first on CoinJournal.

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Gensler issues warning ahead of SEC’s Spot Bitcoin ETF decision

  • Spot Bitcoin ETF applicants strategically adjust fees ahead of potential SEC approval.
  • Invesco, Valkyrie, and WisdomTree reduce costs to attract investors.
  • Gensler’s cautionary note; SEC emphasizes risks in cryptocurrency investments, warning of unique challenges.

As the crypto community eagerly awaits the SEC’s decision on Spot Bitcoin ETFs, recent developments have intensified the competition among ETF providers.

In the midst of the hype, Gary Gensler, the SEC Chairman, has issued a cautionary message, emphasizing the risks associated with cryptocurrency investments. The warning comes amid a flurry of activity from ETF applicants, with some dropping proposed management fees.

The stage is set for a potential revolution in the crypto landscape, but Gensler’s words serve as a stark reminder of the challenges that lie ahead.

Spot Bitcoin ETF applicants compete to slash fees

Various ETF providers are vying for approval of their Spot Bitcoin ETFs, anticipating a green light from the SEC. In a bid to attract investors, providers like Invesco, Valkyrie, and WisdomTree have slashed their proposed management fees. Invesco dropped its fee to 0.39% annually, while Valkyrie and WisdomTree reduced theirs to 0.49% and 0.2%, respectively.

The strategic fee adjustments aim to stand out in a crowded field and potentially lure investors into what is becoming a highly competitive landscape.

This fee-cutting frenzy extends beyond mere reductions, with WisdomTree going a step further by announcing a fee waiver for the initial $1 billion in assets under management. This bold move appears to be a marketing tactic, creating a sense of FOMO (fear of missing out) around WisdomTree’s ETF launch.

Other providers, including Bitwise, ARK/21Shares, Invesco, and iShares (BlackRock), are also adopting similar strategies, offering lower or zero fees for the first months or tranches of AUM.

Gensler’s cautionary note: emphasis on investor protection

Amidst the excitement surrounding potential Spot Bitcoin ETF approvals, Gary Gensler has reiterated the SEC’s concerns about cryptocurrency investments. Quoting a SEC article, Gensler warned potential investors to exercise caution, emphasizing the unique risks associated with crypto securities.

Gensler’s message serves as a sobering reminder to market participants, urging them to thoroughly research and evaluate the risks before diving into the world of cryptocurrencies.

The juxtaposition of the heated fee completion and Gensler’s regulatory caution sets the stage for a pivotal moment in the crypto space. As the SEC’s decision looms, market participants are waiting with bated breath to see whether the SEC will approve or deny the spot Bitcoin ETF applications. If approved, the price of Bitcoin could see some major upward swings and if denied the opposite could be the case.

The post Gensler issues warning ahead of SEC’s Spot Bitcoin ETF decision appeared first on CoinJournal.

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TRON Exceeds Bitcoin in Daily Active Addresses

  • Surprisingly, TRON takes the top spot on the list of cryptocurrencies with the most active daily addresses, with 1,643,580.
  • It is followed by Bitcoin, which has 867,570 active addresses.
  • In third place is Litecoin with 754,272 active daily addresses.

Cryptocurrencies are always on the move, constantly changing and evolving. They’re often compared to the wild west of finance, breaking away from the rules of traditional markets. 

A new analysis by CoinJournal.net utilised the most recent data available to reveal the cryptocurrencies with the highest average of daily active addresses, either as a sender or receiver of the crypto in question. 

The snapshot from December 5, 2023 unveils an intriguing development—TRON outperformed Bitcoin in terms of worldwide daily user engagement.

Rank Cryptocurrency Active address count
1 TRON 1,643,580
2 Bitcoin 867,570
3 Litecoin 754,272
4 Ethereum 478,541
5 Stellar 109,897
6 Dogecoin 99,677
7 Bitcoin Cash 93,186
8 Cardano 45,483
9 USD Coin 33,920
10 Ripple 28,201
11 Ethereum Classic 15,472
12 Chainlink 5,021
13 Internet Computer 4,448
14 Dai 2,756
15 Wrapped Bitcoin 1,959

 

1. TRON (TRX)

At the forefront of blockchain activity on December 5, 2023, was TRON with an impressive 1,643,580 daily active addresses. The TRON network, known for its high throughput and decentralised applications, attracted a substantial user base actively engaging with TRX tokens.

2. Bitcoin (BTC)

Bitcoin, the pioneer of cryptocurrencies, maintained a robust presence with 867,570 daily active addresses. Despite its relatively lower throughput compared to some altcoins, Bitcoin’s widespread adoption and recognition ensured a substantial user base actively transacting on the network.

3. Litecoin (LTC)

Litecoin secured the third position with 754,272 daily active addresses. Known for its faster block generation time compared to Bitcoin, Litecoin’s user-friendly features and efficient transaction processing contributed to its significant presence in daily blockchain activity.

4. Ethereum (ETH)

Ethereum, the pioneer of smart contract functionality, boasted 478,541 daily active addresses. The Ethereum network’s versatility and wide range of decentralised applications facilitated a diverse set of users actively participating in transactions.

5. Stellar (XLM)

Stellar claimed the fifth spot with 109,897 daily active addresses. Focused on facilitating cross-border payments and bridging traditional finance with blockchain, Stellar attracted users seeking fast and low-cost transactions.

Max Coupland, the director of CoinJournal, comments, “The cryptocurrency landscape, characterised by its dynamic nature, has long been dominated by the legacy and influence of Bitcoin. However, TRON’s unexpected triumph signals a potential shift in user preferences and highlights the evolving demands within the crypto community. While Bitcoin continues to command a substantial user base and remains a symbol of decentralised finance, TRON’s surge suggests that users are increasingly seeking platforms that provide more than just a store of value.”

 

The post TRON Exceeds Bitcoin in Daily Active Addresses appeared first on CoinJournal.

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Grayscale’s GBTC tops ETFs, Standard Chartered bullish on BTC, Meme Moguls trending in BTC ETF buzz

  • Standard Chartered forecasts $200K Bitcoin by late 2025, banking on ETF approval.
  • Grayscale’s GBTC outpaces 99% of ETFs, trading close to half a billion dollars.
  • Meme Moguls, a meme-backed stock market, enters the crypto space with presale buzz.

As the crypto world buzzes with anticipation over the potential approval of spot Bitcoin ETFs in the US, major players are making bold predictions. Standard Chartered forecasts a staggering $200,000 target for Bitcoin by late 2025, contingent on ETF approval.

Simultaneously, Grayscale’s Bitcoin Trust (GBTC) is making waves, outpacing the majority of ETFs in trading volume. Amidst this, a new player, Meme Moguls, is poised to capitalize on the ETF momentum.

Standard Chartered’s $200K Bitcoin projection with ETF approval

Standard Chartered, a banking giant, has made a striking projection for Bitcoin’s future. The multinational firm predicts a potential surge to nearly $200,000 by late 2025, riding on the approval and success of Bitcoin exchange-traded funds (ETFs) in the US. This optimistic forecast, shared on X by Entrepreneur and Bitcoin investor Lark Davis, is underpinned by the belief that spot Bitcoin ETFs could attract significant inflows, ranging from $50-100 billion in 2024.

The bank’s Head of Digital Assets, Geoff Kendrick, and Precious Metals Analyst Suki Cooper base this projection on the assumption that US-listed spot Bitcoin ETFs could hold a substantial amount of Bitcoin by the end of 2024, potentially multiplying its current price by 4.3 times. Kendrick and Cooper draw parallels with the growth trajectory of gold exchange-traded products, envisioning a more rapid ascent for Bitcoin given the expected faster development of the BTC ETF market.

Grayscale’s GBTC outpaces ETFs in trading volume

While Standard Chartered makes forward-looking predictions, Grayscale’s Bitcoin Trust (GBTC) has already demonstrated significant prowess.

According to industry expert Eric Balchunas, GBTC traded close to half a billion dollars on January 8, surpassing over 99% of the approximately 3,000 existing ETFs. Balchunas points out that if spot Bitcoin ETFs get approved, Grayscale will enter the market with substantial trading volume, giving it a significant advantage over its competitors.

Meme Moguls seizing the opportunities amid the ETF buzz

In the midst of the ETF buzz, a newcomer is entering the arena – Meme Moguls. This platform positions itself as the world’s first meme-backed stock market/exchange. As the crypto community eagerly awaits the potential approval of spot Bitcoin ETFs, Meme Moguls aims to capitalize on the growing interest in the cryptocurrency market.

The Meme Moguls ecosystem is powered by the Meme Moguls Governance Token ($MGLS), featuring diverse meme-inspired assets and engaging community-driven features like a casino, trading platform, fantasy trader, and a metaverse world named Mogul Land.

Meme Moguls is currently in the presale stage of its MGLS token, offering participants an opportunity to get involved in the world of meme trading and potentially become part of a groundbreaking utility-based memecoin. With a $10,000 giveaway at the end of each presale stage and ambitious plans to create 100 millionaires within the first three months of launch, Meme Moguls is setting high expectations.

In the presale’s current stage, participants can access $MGLS for $0.0027, with a total supply of 3 billion tokens. Analysts predict substantial growth for $MGLS, aligning with the overall bullish sentiment in the cryptocurrency market.

Conclusion

In this dynamic landscape, where traditional financial institutions make ambitious forecasts, established entities like Grayscale showcase real-time strength, and emerging platforms like Meme Moguls strive to carve their niche, the crypto market remains an ever-evolving space.

As the spotlight remains on the potential approval of spot Bitcoin ETFs, these developments mark significant steps in the maturation of the cryptocurrency ecosystem.

The post Grayscale’s GBTC tops ETFs, Standard Chartered bullish on BTC, Meme Moguls trending in BTC ETF buzz appeared first on CoinJournal.

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Honduras’ Próspera Zone recognizes Bitcoin as an official unit of account

  • Próspera Zone in Honduras officially recognizes Bitcoin as a unit of account, expanding financial freedom.
  • Acting manager Jorge Colindres leads the initiative, emphasizing the right to financial flexibility.
  • Despite temporary limitations, entities opting for Bitcoin can calculate tax obligations internally.

In a significant development, the Próspera Special Economic Zone (SEZ) in Roatan, Honduras, has officially recognized Bitcoin (BTC) as a unit of account, further solidifying its commitment to financial innovation.

This move comes less than two years after the region embraced Bitcoin as a legal tender, demonstrating a progressive stance toward the integration of cryptocurrencies into the traditional financial system.

Aiming for financial freedom

Jorge Colindres, the acting manager and tax commissioner of Próspera Zone for Employment and Economic Development (ZEDE), spearheaded this initiative, aiming to provide greater financial flexibility to residents and businesses operating within the SEZ. Colindres, in a January 7 announcement on X, emphasized the belief in the right to financial and monetary freedom, asserting that individuals should be free to conduct transactions, manage accounting, and report taxes in the currency of their choice.

While the decision has been celebrated for its potential to enhance financial freedom, Colindres acknowledged certain temporary limitations. The “Final BTC Tax Payment Procedure” is currently on hold due to technological challenges with the eGovernance system and external regulatory obstacles. Despite this, entities opting for Bitcoin will calculate tax obligations using BTC internally, reporting them to Próspera ZEDE in either US dollars or the Honduras lempira.

Colindres assured that once these challenges are addressed, businesses can directly report and settle tax dues in BTC to Próspera ZEDE.

For businesses interested in adopting Bitcoin as their primary currency, a formal request must be submitted to Próspera’s tax committee within 30 days of the relevant tax period. This request should reference an approved cryptocurrency exchange, such as Coinbase or Kraken, emphasizing the SEZ’s commitment to ensuring compliance and legitimacy in the adoption process.

Próspera ZEDE zone in Roatan Island

Próspera ZEDE, launched in May 2020 on the northern island of Roatan, continues to position itself as one of the most competitive special regimes in Latin America. With over $100 million received in its three-year tenure and the creation of more than 3,000 jobs across the country, Próspera stands as a testament to Honduras’ commitment to embracing innovative financial solutions.

This move follows in the footsteps of El Salvador, Honduras’ neighbouring country, which made history by adopting BTC as legal tender in 2021. As Próspera ZEDE pioneers the recognition of Bitcoin as a unit of account, it sets a precedent for other regions considering similar measures to embrace the ever-evolving landscape of digital currencies.

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