Kategorie: Crypto Markets

• Bitpanda is considering a potential IPO in Frankfurt, backed by Peter Thiel.
• The company reported €100 million in Q1 2024 revenue, rebounding from previous losses.
• Discussions are ongoing, with a possible timeline for the IPO set for 2025.

Bitpanda GmbH, a Vienna-based trading platform, is reportedly considering a range of strategic moves, including a potential initial public offering (IPO) in Frankfurt.

Backed by prominent investors such as billionaire Peter Thiel, Bitpanda is currently collaborating with banking giants Citigroup Inc. and JPMorgan Chase & Co. to explore its options, as revealed by sources familiar with the discussions.

The possible Bitpanda IPO

Established in 2014, Bitpanda has rapidly positioned itself as a leading trading platform in Europe. The company gained significant recognition in August 2021 when it was valued at $4.1 billion following a successful $263 million funding round. This round saw substantial investments from notable backers, including Thiel’s Valar Ventures and billionaire financier Alan Howard.

Bitpanda’s recent financial performance indicates a robust recovery from previous challenges. The company reported over €100 million (approximately $108 million) in revenue for the first quarter of 2024, alongside a pre-tax profit of €13.6 million ($14.71 million) in 2023. This marks a notable turnaround from the losses exceeding €130 million experienced in 2022.

The discussions around an IPO come amid a broader surge of interest in digital asset platforms, fueled by recent regulatory developments in the United States, including the approval of spot Bitcoin exchange-traded funds (ETFs).

This regulatory shift has invigorated market sentiment and increased investor appetite for platforms like Bitpanda, which specializes in cryptocurrency trading as well as equity derivatives and commodities.

If the IPO materializes, it could elevate Bitpanda’s valuation way above $4 billion, according to insiders. However, the company is also weighing the option of a full sale, which remains a viable alternative in its strategic assessment.

As of now, no final decisions have been reached, and discussions are still in the preliminary stages, with a potential timeline for any move set for 2025.

To further enhance its service offerings, Bitpanda has recently integrated Deutsche Bank IBANs, enabling clients in Germany to facilitate real-time fund transfers to and from their brokerage accounts.

As Bitpanda navigates this exciting phase, the cryptocurrency community is watching closely, eager to see how the company will evolve in the ever-changing landscape of digital assets.

The post Bitpanda eyeing a potential initial public offering (IPO) appeared first on CoinJournal.

• Robinhood now offers contracts for users to bet on the 2024 US election outcome.
• Eligible US citizens can buy “Yes” contracts and settle after the January certification.
• Competitors like Kalshi and Polymarket offer similar high-demand prediction markets.

Robinhood, the popular investment app, has made a significant expansion into prediction markets by launching contracts that allow users to speculate on the 2024 US presidential election outcome.

This move places Robinhood in direct competition with established prediction platforms like Kalshi and Polymarket, both of which offer similar political event contracts.

The Robinhood US presidential election contracts

As of this week, Robinhood Derivatives users can purchase “Yes” contracts that predict a chosen candidate will win the presidential election. Each contract’s value, determined by demand, can reach up to $1.00.

If the prediction proves accurate, the contract holder will receive $1.00 after the US Congress certifies the election results on January 6, 2025. Those with incorrect predictions will receive no payout.

Robinhood limits participation to US citizens with an individual investing account that qualifies for specific features, such as margin investing or Level 2/3 options trading. This restriction aligns with the platform’s effort to ensure users have experience with higher-risk financial products.

In addition to speculation, Robinhood provides users with flexibility through an option to close positions before the election outcome is known. This process involves purchasing an opposing “No” contract to offset an existing “Yes” position, allowing users to mitigate potential losses or lock in profits based on evolving market sentiment.

Robinhood does not, however, permit users to hold concurrent “Yes” positions on multiple candidates, a policy aimed at reducing complexity and ensuring clarity in user portfolios.

Political speculation market on the rise

Robinhood’s entrance into prediction markets comes as public interest in political speculation is climbing.

Just earlier this month, a federal appeals court upheld a ruling allowing Kalshi, a prominent competitor, to offer election-related contracts. Kalshi’s recent success in the App Store underscores this growing demand, as the platform has climbed to the top of the finance category, even surpassing giants like Facebook and Uber.

Kalshi offers high liquidity, permitting larger trades without impacting market pricing—a distinction its CEO, Tarek Mansour, highlighted in contrast to Robinhood’s new contracts, which have smaller liquidity limits.

Meanwhile, platforms like Polymarket and PredictIt also provide election outcome contracts, with values fluctuating based on user sentiment and real-time developments.

By adding event contracts to its offerings, Robinhood not only broadens the options available to its users but also taps into a sector of financial markets driven by current events and speculative interest, making political outcomes a new frontier for retail investors.

The post Robinhood introduces speculation on US presidential election outcome appeared first on CoinJournal.

• Coinbase launched a tool, called Based Agent, that allows people to create AI agents that can automate tasks like swaps and staking.
• The tool uses technology from Coinbase SDK, OpenAI, and Replit to allow anyone to create an AI agent in under three minutes.

Coinbase announced Based Agent, a tool for creating AI agents that can perform a myriad of tasks, from swapping to staking, bridging, and even registering crypto domain names by interacting with various smart contracts and other AI agents where necessary.

Coinbase pushes for AI agents

Based Agent isn’t Coinbase’s first foray into AI agents. Members of the company have, in the past, used AI for various purposes or to prove its viability. Brian Armstrong, CEO of Coinbase, in August, oversaw transactions between two AI agents where one agent paid the other using tokens.

More recently, Head of Protocols at Coinbase, Jesse Pollak, highlighted an AI bot on Twitter, called Luna, that autonomously tipped users to engage with its content.

Truth Terminal, the Twitter AI chatbot that was instrumental in creating the Goatseus Maximus memecoin that currently trades at a $700 million market cap, also exemplifies the progress AI agents have made in recent months.

AI Agents still face development hurdles

The growth of AI agents is not without its drawbacks. A major one is the inability of AI agents to figure out bank accounts, and hence, automate off-chain payments. AI agents cannot book hotels, buy plane tickets, or manage recurring subscriptions.

However, efforts are being made to bridge that gap by developing onchain payment methods that integrate with the real-world. In August, a blockchain development firm called Skyfire created a platform that allows AI agents spend money autonomously.

Biconomy, a Web3 infrastructure company launched a Delegated Authorization Network to serve as an authorization layer for AI agents to trade tokens on behalf of users.

Meanwhile, the Base network allows AI agents to use USDC to transact with people and other AI agents in real-time. However, this feature has not penetrated real-world payments.

Despite the gap, the development of AI agents continues to grow and may account for 80% of all blockchain transactions in 6-12 months, according to Mode Network founder James Ross.

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• Bitcoin Dogs rose 30% in two weeks before paring gains.
• Bitcoin price is back above $68,000 after last week’s slip halted bulls’ momentum.
• With BTC regaining control above $68k, could this spark Bitcoin Dogs price?

New upside momentum has pushed Bitcoin (BTC) above $68,500 following last week’s sharp decline that saw bears reject movement above $69,000.

As BTC price refreshed recent gains at the time of writing, most altcoins were also positive. This includes many coins to recently see huge gains amid meme coin resurgence. The price of Bitcoin Dogs (0DOG), which gained more than 30% in two weeks, hovered at a key level, notably with sellers still in action with a 5% dip in 24 hours.

But can a surging Bitcoin spark new gains for 0DOG?

Analysts see Bitcoin bull cycle intact

Despite recent struggles below $70k, Bitcoin price remains largely on track for a major bull cycle.

Analysts have pointed to BTC’s resilience above support levels near $65k as indicator a shakeout of weak hands is nearly done. With “Uptober” having played its role for bulls, a series of economic releases this week and the US election next week stand out as major factors to consider.

The continued investment in spot Bitcoin ETFs, and potential adoption of BTC strategy by Microsoft could add to this momentum. On spot ETFs, US BTC funds saw net inflows of over $998 million last week, with the market on another positive streak.

Crypto analyst Rekt Capital says BTC’s “more bullish outcome” is a reality amid the weekly close.

#BTC

Bitcoin has Weekly Closed above ~$67900

The more bullish outcome has become a reality$BTC #Crypto #Bitcoin https://t.co/pn3riKab7U pic.twitter.com/Z9zICRSdMg

— Rekt Capital (@rektcapital) October 28, 2024

BTC gains and Bitcoin Dogs price

If Bitcoin breaks above $70k and manages a new all-time high amid positive catalysts, it’s likely the next few months could see it target $100k.

The benchmark asset’s ecosystem being bullish would mean a whole lot of top tokens could go parabolic. BRC-20 tokens for instance are up 6% to $1.55 billion as Bitcoin nudges higher.

Bitcoin Dogs, a cryptocurrency project for GameFi and NFTs on Bitcoin, has seen its native token rally higher in recent weeks. However, 0DOG has also dipped in tandem with BTC, with recent price levels coming amid a profit taking bout that follows a 30% upside in two weeks.

Currently, Bitcoin Dogs is down 5% as price hovers near $0.009. However, amid a major spike for Bitcoin and meme coins last week, 0DOG rose more than 100% as bulls jumped from near $0.0066 to over $0.013 between Oct. 21 and Oct. 22.

What could catalyze gains for 0DOG?

While 0DOG’s gains mirrored the broader market, there’s another catalyst likely at play. Having made history as the world’s first BRC-20 ICO on Bitcoin, the Bitcoin Dogs project is poised for one of its biggest milestones.

In a recent update, the project posted a teaser of its upcoming game. Bitcoin Dogs has an AMA scheduled for Tuesday, Oct. 29 that will feature game and NFTs release.

All this is part of a massive news release and key to the roadmap. The project wants to deliver a play-to-earn game with an in-game token BARK and the native utility token 0DOG. 0DOG holders have exclusive access to the game and can earn more from a P2E experience leveraging the Bitcoin network.

Excitement for the game’s upcoming launch, potential exchange listings and a rally for BTC suggest ODOG price could explode.

Find more about Bitcoin Dogs on the project’s website.

The post Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k? appeared first on CoinJournal.

• Solana (SOL) may see a 5% decline, slipping to around $160 amidst market volatility.
• Investors are considering Vantard (VTARD), a new meme coin currently in its presale stage.
• Vantard offers exposure to meme coins, appealing to traders seeking gains.

With Solana price prediction indicating a potential decline of 5%, many SOL investors are turning their attention to emerging opportunities, particularly new cryptocurrencies in their presale stages.

One such cryptocurrency in its presale stage is Vantard (VTARD), the first meme coin index fund, which aims to capitalize on the ‘memecoin supercycle.’

Solana price prediction signals a possible 5% slip

As of the latest reports, the Solana price has slipped to approximately $170, down nearly 4% on the day. This decline comes despite an all-time high in economic activity on the Solana blockchain, suggesting that while the underlying technology is performing well, the price action is not following suit.

Analysts warn that if the downward trend continues, SOL could see further corrections, potentially dropping to around $160.99, which aligns with liquidity sweeps at lower boundaries of the Fair Value Gap.

A close above the $179 threshold could signal a reversal, but for now, traders are cautious as they monitor price movements. Historically, SOL’s price trajectory has been resilient, but the combination of external pressures and market sentiment makes its short-term trajectory uncertain.

Currently, the 14-day Relative Strength Index (RSI) sits at 60.86 and is sloping downward coming from the overbought region, indicating a bearish sentiment in the market.

With predictions suggesting a long-term target of $579.46 by 2025, many investors are weighing their options in light of recent fluctuations.

The meme coin index fund token attracting SOL traders’ interest

Amidst the uncertainty surrounding Solana, traders are increasingly drawn to Vantard (VTARD), the first-ever meme coin index fund.

As meme coins gain popularity in the current crypto landscape, Vantard offers a unique proposition by providing exposure to a diversified portfolio of Solana’s top meme coins. The meme coin aims to capture the potential upside of this speculative asset class while minimizing the complexities of individual token selection.

Vantard is positioned as a low-touch investment vehicle, allowing users to participate in the anticipated ‘memecoin supercycle’ without the burden of choosing specific tokens. It is designed for both seasoned investors and newcomers, emphasizing the simplicity and accessibility of investing in meme coins.

With a mission to deliver superior returns during this speculative phase, Vantard’s approach resonates with those looking to maximize gains while avoiding the mental overhead often associated with trading individual assets.

By enabling VTARD token holders to redeem their tokens against the Treasury for a proportional share of the underlying assets, Vantard is transforming how investors approach meme coins. The structure of this index fund mirrors successful financial products like ETFs but focuses exclusively on the high-risk, high-reward landscape of meme coins.

As interest in these assets surges, Vantard is likely to attract more SOL traders eager to explore alternative investment strategies.

Which Could Be the Best Investment: Vantard (VTARD) or Solana (SOL)?

The decision between investing in Solana (SOL) or the meme coin index fund Vantard (VTARD) ultimately hinges on individual investment strategies and risk tolerance.

Solana remains a robust platform known for its speed and scalability, with significant potential for long-term growth. However, the recent price volatility raises concerns for short-term traders looking for immediate gains.

On the other hand, Vantard offers an innovative solution for those looking to capitalize on the meme coin trend. With the potential for substantial returns and a simplified investment process, Vantard may appeal to traders who want exposure to this rapidly evolving segment of the market.

Given that meme coins have outperformed other crypto sectors this year, investing in Vantard, which is currently in the first of the expected 10 presale stages, could provide an opportunity to ride the wave of speculative trading without the need to pick individual winners.

The VTRAD token is currently going for $0.00010 per token with projections of the token hitting $0.00011 in the next presale stage before rising more in the next stages.

Ultimately, SOL traders must weigh the potential for Solana’s resurgence against the enticing prospects offered by Vantard. As the cryptocurrency landscape evolves, both options have their merits, and the choice will depend on whether investors prioritize the established strength of Solana or the speculative allure of meme coins through an index fund like Vantard.

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