Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Bitcoin miner GRIID makes NASDAQ debut after SPAC merger

  • GRIID begins trading on NASDAQ post-SPAC merger, enhancing market presence.
  • NASDAQ debut follows a successful merger with Adit EdTech Acquisition Corp.
  • GRIID’s listing underscores the growing integration of cryptocurrency firms into traditional markets.

GRIID, a US-based Bitcoin mining company, has officially commenced trading on the NASDAQ Global Market, heralding a new chapter in its journey. Known for its vertically integrated mining facilities leveraging sustainable energy, GRIID’s foray into the NASDAQ marks a notable milestone in the cryptocurrency sector’s intersection with traditional financial markets.

The move signifies a pivotal moment for GRIID, emphasizing its strategic expansion and commitment to delivering value to shareholders.

GRIID’s SPAC merger

GRIID’s NASDAQ listing comes on the heels of a successful merger with Adit EdTech Acquisition Corp, a special purpose acquisition company (SPAC). This strategic move underscores GRIID’s dedication to fortifying its market position and enhancing shareholder value. With the completion of the merger on January 2nd, GRIID swiftly transitioned to public trading, showcasing its agility in capitalizing on market opportunities.

As GRIID joins the ranks of publicly traded Bitcoin miners on NASDAQ, including industry giants like Coinbase Global and Marathon Digital, the cryptocurrency ecosystem continues to integrate into mainstream finance. GRIID’s presence on NASDAQ not only bolsters its visibility and liquidity but also underscores the growing investor interest in cryptocurrency-related ventures.

GRIID’s NASDAQ debut marks a significant milestone for the company and the broader cryptocurrency industry. With its innovative approach to Bitcoin mining and strategic market moves, GRIID is poised to make waves in the financial landscape, further bridging the gap between traditional finance and the burgeoning world of digital assets.

The post Bitcoin miner GRIID makes NASDAQ debut after SPAC merger appeared first on CoinJournal.

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Binance Labs denies participation in SkyArk Chronicles’ $15M funding round

  • Binance Labs says it was “unware” of SkyArk Chronicles’ $15 million funding round and that it did not participate as the AAA gaming platform claimed.
  • SkyArk Chronicles has apologized for the “miscommunication”.

Binance Labs has refuted claims that it participated in the gaming platform SkyArk Chronicles’ latest financing round.

The venture capital arm of crypto exchange Binance released a statement on Monday distancing itself from SkyArk Chronicles’ $15 million funding, noting that the only participation it had was in the incubation of the project in 2021.

Binance says it never participated in the $15 million round

Binance’s reaction was prompted by an announcement that its venture arm had led SkyArk Chronicles’ funding round. Binance Labs says it had asked the NFT project to rectify the claim as posted in the announcement article and on X.

While SkyArk deleted the post on the social media platform, it appears no other effort was made – despite Binance’s repeated calls via private communication.

In one of its notices to the crypto community, Binance Labs said:

“SkyArk Chronicles is a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3; please note that Binance Labs did not participate in the project’s latest financing round this year.”

While it sought to avoid any possible FUD for the project, Binance Labs said it was “unaware” of the $15 million investment the SkyArk Chronicles team claimed Binance Labs had led. The project’s announcement did not also stick to the facts.

“The development of a project will not collapse because Binance Labs has made a clarification on the facts. If a project is built on false expectations of prosperity, it is not truly brilliant. Looking at the recent operational and marketing activities by SkyArk Chronicles, we can see their potential for servicing end consumers and the community,” Binance noted in its statement on Monday, January 29.

SkyArk said its $15 million fundraising had attracted the participation of several crypto investment platforms, including VividThree, Jambo Technology, GuildFi Global, and BreederDAO. The AAA gaming platform closed the funding round on January 12, 2024.

SkyArk Chronicles launched its Genesis NFT sale on January 26, 2024, netting more than 50,000 ETH.

Some observers have pointed out that the game studio messed up big time with the “false” claim. However, following Binance Labs’ statement, SkyArk Chronicles apologized via X, stating that it appreciated Binance Labs’ clarification.

The post Binance Labs denies participation in SkyArk Chronicles’ $15M funding round appeared first on CoinJournal.

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Crypto investment products saw $500M in outflows last week: CoinShares

  • Crypto investment products saw an outflow of $500 million last week.
  • Bitcoin saw the most outflows with $479 million, while Ethereum recorded $39 million in outflows.
  • CoinShares’ weekly report shows most of the outflows were in the US, where Grayscale’s ETF witnessed over $2.2 billion in outflows.

Digital asset investment products saw a significant spike in outflows lask week, according to digital assets investment firm CoinShares.

CoinShares’s latest weekly report shows the crypto investment products market saw outflows totalling $500 million..

Bitcoin saw $479 million in outflows

According to the asset manager, the global outflows from crypto investment products reached $409 million in the US, $60 million in Switzerland and $32 million in Germany – the three regions with the highest outflows for the week ending January 26.

“Bitcoin has understandably been the primary focus, seeing US$479m outflows, while short-bitcoin saw further inflows totalling US$10.6m. Altcoins predominantly saw outflows last week, with Ethereum seeing US$39m, and Polkadot and Chainlink seeing US$0.7m and US$0.6m respectively,” James Butterfill, the Head of Research at CoinShares wrote in a blog published Monday.

Buttefill notes that outflows from Grayscale’s GBTC ETF, which reached $5 billion since the ETF started trading on January 11, may have contributed to overall outflows across other regions.

The outlook also contributed to the recent declines for Bitcoin price, which traded to lows of $38,600 as GBTC saw over $2.2 billion in outflows last week. However, net inflows for the recently approved US ETFs was $807 million.

“We believe that much of the price falls, despite these positive flows, was due to Bitcoin seed capital being acquired prior to 11th January,” Butterfill added.

Bitcoin traded around $42,320 on Monday morning (6:20 am ET), up 4% in the past week. BTC was looking to extend the gains after recovering from last week’s dip below the psychological level at $40k.

Meanwhile, Ethereum price was hovering near $2,275, down 4.3% in the past week.

The post Crypto investment products saw $500M in outflows last week: CoinShares appeared first on CoinJournal.

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Crypto price prediction: Sui, Monero, Memeinator (MMTR)

  • Memeinator is approaching $4 million in its token sale.

  • There is demand for new meme coins as evidenced by Wen’s performance.

  • Sui and Monero have been in a strong uptrend lately.

Cryptocurrency prices remained in a tight range on Monday as investors waited for the next catalyst. Bitcoin remained at $42,000 while the total market cap of all digital coins remained at $1.63 trillion. Other coins like Ethereum, XRP, and Solana also remained in a consolidation phase. This article looks at key cryptocurrencies like Sui, Memeinator (MMTR), and Monero.

Memeinator token forecast

Memeinator is an upcoming cryptocurrency that aims to replicate the success of meme coins like Bonk and Pepe. It aims to do that by creating a meme coin that has a wide community and utility in itself. Some of this utility will come from its Artificial Intelligence (AI) features and gaming. The developers have partnered with Red Apple Tech to build its immersive game.

https://twitter.com/TheMemeinator__/status/1750876945624014917

The developers have also launched a major competition that will see a lucky winner go to space using Virgin Galactic’s shuttle. A single trip to space will cost at least $250,00 and over 400k people have already signed for the promotion.

There are other signs that the network is gaining traction. For example, data in its website shows that it has raised over $3.9 million from investors. It is nearing its target of raising $4.02 million, making it one of the most successful token sales in the market. You can buy the MMTR token here.

Another sign of its success is that the number of social media followers have jumped recently. There are now over 108.6k Twitter followers in the network and the number is growing.

Meanwhile, there is a sign that investors are open to new meme coins. For example, Wen, a new Solana token has gone parabolic as demand rises. Its market cap has surged to more than $126 million. 

Monero price forecast

Monero’s XMR token price has surged hard in the past few days. It has risen from the YTD low of $142.62 to a high of $164. The coin has jumped above the 50-day and 100-day moving averages even after several exchanges delisted it because of its privacy features. 

Notably, XMR price has risen in the past six straight days while the Relative Strength Index (RSI) has risen above the neutral point to 60. Therefore, the outlook for the coin is still bullish as investors target the year-to-date high of $180.54, which is about 10% above the current level.

Sui price forecast

Sui token has bounced back in the past few weeks, making it one of the best performers in the market. Turning to the daily chart, we see that the coin has crossed the important resistance point at $1.4440, its highest point on January 14th. It has flipped this price into a support level.

Sui has remained above the 50-day and 100-day Exponential Moving Averages and invalidated the double-top pattern that has been forming. Therefore, the outlook for the coin is bullish, with the next point to watch being at $1.80. The stop-loss of this trade is at $1.30.

The post Crypto price prediction: Sui, Monero, Memeinator (MMTR) appeared first on CoinJournal.

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Harvest Fund files for spot bitcoin ETF in Hong Kong: report

  • Harvest Hong Kong is the first institution in Hong Kong to file for a spot Bitcoin ETF.
  • A local news outlet suggests the Hong Kong Financial Services Commission (FSC) could announce a decision in coming weeks.
  • The US recently approved 11 ETFs, including for BlackRock, Fidelity and Grayscale.

Harvest Hong Kong, one of the largest fund companies in China, has filed for a spot Bitcoin exchange-traded-fund (ETF).

A Tencent News report says that the company filed the ETF application with the Hong Kong Securities and Futures Commission (FSC) on January 26, 2024. Harvest Fund is the first institution to submit a proposal to list a spot Bitcoin ETF in Hong Kong, the news outlet noted.

According to the report, the regulator could release its decision on the ETF after the Lunar New Year holiday. However, market experts say the SFC could take a cue from the US Securities and Exchange Commission (SEC) and look to approve several ETFs at a go.

Institutions eye spot ETFs

Early this month, the SEC approved 11 spot Bitcoin ETFs, with the nod coming after a decade of market anticipation. The SEC’s court loss to Grayscale paved the way for the eventual approvals, including for BlackRock, Fidelity Investments and Bitwise.

Analysts have noted a decent performance for the ETFs amid massive outflows for Grayscale’s GBTC.

As Hong Kong reportedly looks to allow its first spot Bitcoin ETF, the outlook contrasts with South Korea. In the aftermath of the SEC decision, South Korea’s Financial Services Commission (FSC) warned financial institutions and brokerages regarding the trading of spot ETFs.

However, the country’s top office looked to intervene, asking the FSC to reconsider its stance on the issuance of spot Bitcoin ETFs in the country.

The post Harvest Fund files for spot bitcoin ETF in Hong Kong: report appeared first on CoinJournal.