Cryptocurrency News Highlights: US Bitcoin ETFs Hold a Massive 643K BTC in Assets

Market

Cryptocurrency News Highlights: Bitcoin, the world’s first-ever digital currency, once again curated a tidal wave of speculations across the broader crypto market on Thursday as the token briefly slipped below the $42 mark. As of press time, the token noted a 2.10% plunge over the past 24 hours and is currently trading at $42,025, whereas, the price continuously moved to and fro the $42K mark today, birthing additional inferences among crypto market enthusiasts. Meanwhile, top altcoins like Ethereum, XRP, and Solana noted a 2%-7% drop, nabbing significant attention across the crypto market.

On the other hand, Federal Reserve Chair James Powell spotlighted the Fed’s decision to keep the interest rates unchanged till the next FOMC meeting. Powell stated that the current inflation is too high when compared to the 2% target rate set by the central bank. Aligning with this, the Federal Reserve ruled out the decision to keep the benchmark rate in the 5.25%-5.50% range, echoing a wave of frenzy across the U.S.

Live

11:14:17 PM IST, 1 February 2024

Crypto News LIVE: Superstate Launches USTB Fund on Ethereum for Qualified Buyers

Superstate has launched the Superstate Short Duration U.S. Government Securities Fund (USTB), a private fund leveraging Ethereum blockchain technology, exclusively for U.S. qualified purchasers. With a low management fee of 0.15% and the convenience of transactions via Circle’s USDC stablecoin, USTB sets a new benchmark in investment funds, aiming to marry the efficiency of blockchain with traditional treasury management.

10:55:00 PM IST, 1 February 2024

Crypto News LIVE: Blackrock’s Bitcoin ETF Grows by 2,712 BTC in a Day

Blackrock’s Bitcoin ETF has seen a significant increase in holdings, now containing 66,200 BTC, with an addition of 2,712 BTC just from yesterday. This surge in acquisition comes at a time when Bitcoin’s daily issuance rate of 900 BTC is set to halve to 450 BTC by April.

10:35:00 PM IST, 1 February 2024

Crypto News LIVE: Binance Freezes $4.2M in XRP After Ripple Exploit

The Binance team successfully froze $4.2 million worth of XRP following an exploit at Ripple, demonstrating the power of community collaboration and swift exchange response.

10:20:16 PM IST, 1 February 2024

Crypto News LIVE: BTC Eyes New Highs Amid FED Actions, Analysts Predict

Amid Federal Reserve actions, optimism for Bitcoin and broader cryptocurrency markets remains high. Analysts point out that the recent uptrend from wave 4 is forming in five waves, suggesting a potential for another upward move in five stages.

09:50:17 PM IST, 1 February 2024

Crypto News LIVE: US Bitcoin ETFs Hold a Massive 643K BTC in Assets

As of January 29, the total Bitcoin holdings of US spot Bitcoin ETFs have been estimated at approximately 643 thousand BTC. This significant aggregation of Bitcoin assets highlights the growing acceptance and investment in cryptocurrency through traditional financial instruments.

09:30:00 PM IST, 1 February 2024

Crypto News LIVE: US CPI Hits Record Low at 1.44%, Truflation Reports

Truflation’s latest report reveals a historic low in the US CPI at 1.44%, marking the lowest figure in the company’s records. With declines observed in 10 out of 12 categories, notably in Apparel, Recreation, and Transport, the unusual drop in inflation sparks worries about potential deflationary trends. This economic shift poses significant implications for Federal Reserve policies, businesses, and the broader US economy, stirring debates on the future financial landscape.

09:15:00 PM IST, 1 February 2024

Crypto News LIVE: Polygon Labs Cuts 19% of Staff, 60 Jobs Affected

Polygon Labs’ CEO recently announced a reduction of 60 staff members, constituting 19% of its workforce. Following its independence from Polygon Labs in late 2023, Polygon Ventures has undergone a rebranding to P2 Ventures. Additionally, the Polygon ID team is set to become an independent entity in the near future.

09:00:17 PM IST, 1 February 2024

Crypto News LIVE: Grayscale Shifts $191M in BTC to Coinbase, $13M to Flow Traders

Grayscale recently moved 4,494 BTC, valued at approximately $191 million, to Coinbase Prime and transferred 312 BTC, worth around $13 million, to Flow Traders. Since the approval of their ETF, Grayscale has transferred a total of 131,570 BTC, equivalent to $5.4 billion, showcasing significant market activity.

08:55:00 PM IST, 1 February 2024

Crypto News LIVE: Binance Launches In-App Inscriptions Marketplace

Binance has launched an Inscriptions Marketplace within its Web3 Wallet, facilitating the inscription and trading of BRC-20 tokens like ORDI. BRC-20 tokens, an experimental standard for fungible tokens on the Bitcoin blockchain, use Ordinals inscriptions to store data on individual satoshis, enabling the creation of meme coins on Bitcoin.

08:40:36 PM IST, 1 February 2024

Crypto News LIVE: Binance Delists ETH and BNB Pairs

Due to poor liquidity and trading volume, Binance is set to remove several spot trading pairs, including popular cryptocurrencies like Ethereum (ETH) and Binance Coin (BNB). The removal is part of routine reviews to maintain a high-quality trading environment and will not affect the availability of the respective tokens on Binance Spot.

08:19:22 PM IST, 1 February 2024

Crypto News LIVE: Arthur Hayes Withdraws 500K PENDLE Tokens

BitMEX founder Arthur Hayes has surprised the crypto community by withdrawing 500,000 Pendle (PENDLE) tokens worth $1.28 million from Binance at $2.57 each. Hayes now holds 1.34 million PENDLE tokens, valued at $3.54 million, potentially making a significant profit of $1.45 million, signaling that market sentiment has changed.

07:50:00 PM IST, 1 February 2024

Crypto News LIVE: Shiba Inu’s Remarkable Token Burn Surge Amid Price Decline

Shiba Inu (SHIB) experienced a significant increase in its token burn rate, surging by 219.78% in the last 24 hours, while the token’s price declined by 1.12% to $0.00000888. In January, over 9.9 billion SHIB tokens were burned through 269 transactions, with a monthly burn rate increase of 61.57%. Despite recent price drops, some analysts anticipate a potential SHIB upswing, with predictions of reaching $0.010 to $0.011.

07:35:00 PM IST, 1 February 2024

Crypto News LIVE: DZ Bank to Kick Off Crypto Trading Pilot for Retail Users

DZ Bank, Germany’s third-largest bank, is set to launch a cryptocurrency retail trading pilot, focusing on Bitcoin transactions with customers. Shifting from its original plan to collaborate with DWP Bank, DZ Bank has yet to reveal the details of its new partnership. The initiative allows customers to execute multiple cryptocurrency transactions independently, without bank-provided advice.

06:20:17 PM IST, 1 February 2024

Crypto News LIVE: Airdrop Hunter Nets $1.17M from JUP, Sells via Exchanges

A suspected airdrop hunter has profited $1.17 million from the JUP airdrop, according to Lookonchain. The individual used around 9,246 wallets to receive 1.85 million JUP, selling most of it on decentralized and centralized exchanges.

06:00:17 PM IST, 1 February 2024

Crypto News LIVE: Bitcoin ETF Options Face Regulatory Hurdles, Delay Likely

According to a report by Reuters, the approval for options on new U.S. spot Bitcoin exchange-traded funds (ETFs) may face delays of up to ten months due to regulatory complexities involving the SEC and CFTC.

05:40:00 PM IST, 1 February 2024

Crypto News LIVE: Crypto.com Pauses Terra Luna Classic Delisting Until April

Crypto.com has suspended its planned delisting of Terra Luna Classic (LUNC), originally scheduled for February 15th. According to the latest update from the platform, users are advised to sell or withdraw their LUNC holdings by April.

05:09:00 PM IST, 1 February 2024