By Shikha Singh
$55 bn invested in Bitcoin ETF in 2024
Story 1
Bitcoin rose 124% in 2023, outperforming other asset classes. The VanEck analysis found that institutional usage drove Bitcoin’s crypto ecosystem market share to 56%.
ETFs, such as the first spot Bitcoin ETF established in January 2024, have contributed to this boom, holding $55 billion in assets.
Bitcoin miners’ income has plummeted owing to a half of mining payouts.
Bitcoin’s long-term prognosis is bright due to rising demand for decentralized networks and institutional involvement.
Coinbase Adds Solana cbBTC Support As Bitcoin-Backed Token Race Heat Up.
Coinbase will embed its wrapped Bitcoin token, cbBTC, on the Solana blockchain to enable Bitcoin trading and usage on Ethereum.
The advent of Bitcoin-backed token alternatives by BitGo and Stacks has increased competition in the DeFi industry.
CbBTC integrates with Solana to access the network’s $6.2 billion DeFi ecosystem with three million daily active addresses.
After Travala integrated SOL-based assets into its travel platform, Coinbase joined.
MicroStrategy Buys $458 mn in Bitcoin, Increasing Holdings to 252,220 BTC.
MicroStrategy now holds 252,220 BTC worth $15.85 billion, up 7,420. Averaging $39,266 per coin, the business has invested $9.9 billion and made $5.95 billion unrealized. They aim to acquire $2 billion additional Bitcoin as an inflation hedge and long-term investment. Despite market volatility, the business is optimistic about Bitcoin’s future, and analysts say worldwide demand might boost prices.
HMSTR Airdrop and Season 2 Updates Fuel Surge in Popularity.
The HMSTR token airdrop on September 26 by Hamster Kombat excited its fanbase after months of anticipation.
Before Season 2, the game will enter a “interlude season” when users won’t earn tokens but may collect diamonds from linked games and YouTube content.
BNY Mellon Receives SEC Approval to Offer Bitcoin Custody Services.
BNY Mellon is the first US bank to get SEC approval to store Bitcoin (BTC).
Bitwise’s CIO noted rising demand for Bitcoin-related exchange-traded funds.
Under NYC’s Department of Revenue Services and the Federal Reserve, the business provides compliance custody services.
Plume Network to Tokenize $1.25 bn in RWAs Including Medicaid Claims & Solar Farms.
Plume Network will tokenize $1.25 billion in real-world assets, providing access to high-yield private lending, Medicaid receivables, and renewable energy.
The fourth-quarter move tries to democratize investing. $500 million in private loans, $300 million in solar farm assets, oil and gas mineral rights, and $120 million in Medicaid claims will be tokenized.
The program may solve healthcare and renewable energy liquidity difficulties, affecting investment.
Travala Integrates Solana, Expands Crypto Travel Options And Rewards For Users.
Crypto-native travel booking site Travala accepts Solana’s tokens (SOL, USDC, and USDT) as payment and incentives. Use these tokens to book flights and hotels and earn up to 10% SOL travel rewards. Travala operates its AVA coin on Solana, enabling fee-free transactions.
Bingx Resumes USDT Withdrawals Amid Security Concerns After $52 mn hack.
Bingx restored withdrawal services for major cryptocurrencies such USDT, USDC, BTC, and ETH on the BSC network on September 21, followed by USDT withdrawals on Tron. Security assessments might cause delays.
Bingx reduced the effect of a security incident that took $52 million from its hot wallet by saying reserves covered the losses.
Bingx aims to resume full withdrawal services in the next weeks to restore customer trust and emphasize crypto industry security.
LinkedIn Suspends AI Training Using UK User Data.
Following UK Information Commissioner’s Office concerns, LinkedIn stopped training its AI models using UK user data.
Microsoft’s platform automatically enrolled users globally into this data use, although UK users may opt out.
LinkedIn’s data usage review was welcomed by the ICO.
The ICO stressed the significance of user privacy in AI development and will monitor LinkedIn and Microsoft to safeguard data rights.
NFT Sales Climb 7.33%, Mythos, Blast, & Solana Lead the Charge.
Between September 14-21, 2024, NFT revenues rose 7.33% to $77.13 million over 21 blockchains. The number of suppliers increased 95.68% and purchasers 137.48%. Ethereum dominated sales with $23.62 million despite a 9.32% drop. Solana followed with $16.78 million, up 36.59%, while Bitcoin was third with $12.55 million, down 15.43%.
The best NFT collection was Mythos’ Dmarket, earning $5.51 million, up 129.81%. Dogezuki sales rose 22.67% to $2.47 million for Solana. Ethereum’s Vesting #32, selling for $328,263, was the most expensive NFT.
You need to login in order to Like
