cryptonewstoday

Shiba Inu’s (SHIB) project lead has shared a new “MOOD” message that has got the community wondering what is the pipeline for the project.
Read more on: https://thecryptobasic.com/2023/12/19/whats-coming-for-shiba-inu-as-kusama-keeps-community-guessing-with-new-cryptic-message/
#Shiba.Inu-SHIB #ShibaInuEcosystem #Cryptocurrency.trading.platform #cryptonewstoday #CryptoNews🔒📰🚫

BITCOIN Drops Amid ETF Rejection Rumor
The reason behind the Pumping

In 2023, BTC price surges by nearly 161%, closing successfully above the psychological threshold of $40,000.Bitcoin recently experienced an upswing, surpassing $45,000, reaching levels unseen since April 2022.Two key events fuel the rise in Bitcoin prices: the fourth halving event and the pending decision by the US Security Exchange Commission (SEC) on spot BTC ETFs in the US.
Buy the rumor, sell the news
The cryptocurrency market grapples with "sell the news" sentiment amid resistance in Bitcoin and Ethereum.Bitcoin experiences a brief surge, surpassing $45,000, followed by a sudden drop, erasing $550 million in long positions and $50 million in short positions.Market turmoil ensues due to a Matrixport blog hinting at potential SEC delays in approving ETFs.The notable drop occurs ironically alongside the release of a celebratory video from ETF applicants Galaxy and Invesco, commemorating Bitcoin's 15th birthday on January 3.In the previous news, a decline of 8.51% from $45,300 to $41,400 leads to the liquidation of approximately $600 million in holdings.Concurrently, total open interest experiences a sharp decline, moving from $18.66 billion to $17.72 billion.The collective crypto market cap shrinks from $1.82 trillion to $1.72 trillion, witnessing a disappearance of over $100 billion.On December 2nd, Bitcoin reached its peak at $45,900.Bitcoin crashed by 8% in two hours, hitting a low near $41,500. Ethereum also experiences a 6% plunge during this flash crash.Among the top 100 digital assets, over half experienced double-digit losses for the day.Uncertainty increases as a crucial approval criterion remains unmet, possibly prolonging discussions until Q2 2024.Coingabbar predicts a potential 20% Bitcoin price drop, ranging from $36,000 to $38,000, in case of ETF rejection, triggered by the liquidation of assets linked to ETF approval expectations.
What's the future of BITCOIN
Recent SEC meetings with stock exchanges on Spot Bitcoin ETFs introduce uncertainty.Potential outcomes of these meetings may influence Bitcoin's integration into mainstream investments.Despite a market rebound, investors eagerly await SEC insights into its stance on spot Bitcoin ETFs and their broader financial market impact.The market rebounds, trading 2-5% above the recent low, having absorbed the impact of panic selling.Investor optimism is high for a positive ETF outcome, instilling hope and confidence in the market.
#BitcoinPrice2024 #BitcoinETFs! #sec #cryptonewstoday

Fidelity Investments, a leading money management firm, has introduced an innovative proposal to its ethereum exchange-traded fund (ETF) application, suggesting the inclusion of staking capabilities for its potential Fidelity Ethereum Fund. This amendment, filed with the U.S. Securities and Exchange Commission (SEC), has sent Lido, a prominent staking protocol on the Ethereum network, soaring by 9%.

Expanding Ethereum ETF Landscape
Fidelity’s decision to file for an ethereum ETF in November placed it among other significant potential issuers like BlackRock, Ark Invest, and Grayscale, all vying to launch similar financial products. The move to enable staking within the ETF framework signifies Fidelity’s attempt to provide added value and appeal to traders by allowing them to earn rewards on their investments directly through the fund.

The Staking Proposition
In the detailed amendment submitted to the SEC, Fidelity outlined its plan to stake a portion of the fund’s assets with trusted staking providers, potentially including affiliates of the asset manager. This strategy aims to leverage the Ethereum network’s shift to proof-of-stake following its recent upgrade, enabling investors to participate in the network’s security and consensus mechanisms while earning staking rewards.

Market Response and Future Prospects
The announcement had an immediate impact on Lido, with its token price surging to $2.64, highlighting the market’s positive reception to Fidelity’s staking proposal. However, despite this enthusiasm, experts remain cautious about the SEC’s willingness to approve an ethereum ETF by the next deadline on May 23, citing regulatory uncertainties and the agency’s historical hesitance towards similar crypto-based financial products.

As the deadline approaches, Fidelity’s proposed staking feature sets its application apart, potentially influencing the SEC’s decision-making process and the future landscape of ethereum ETFs. The broader crypto and investment communities are closely watching this development, eager to see how it unfolds and its implications for the integration of traditional financial products with emerging crypto technologies.
#cryptonewstoday #BitcoinETF💰💰💰

Crypto News Key Highlights:
MicroStrategy, led by CEO Michael Saylor, bolstered its Bitcoin holdings, now exceeding those of major governments like the U.S. and China. Saylor's confidence in Bitcoin remains unwavering despite market fluctuations. MicroStrategy's recent acquisition of over 214,000 BTC underscores Wall Street's growing interest in cryptocurrency amid market volatility.Peter Schiff expresses concerns about Bitcoin ETFs' limited liquidity during non-U.S. market hours, potentially leaving investors stranded during overnight downturns. Bitcoin's recent drop below $63,000 sparked discussions on its resilience. Schiff scrutinizes MicroStrategy's borrowing for Bitcoin acquisitions, questioning its impact on market stability and investor interests.Bitcoin and the wider cryptocurrency market faced pressure post-FOMC meeting, with Bitcoin dropping 6% to test $61,000 support, while Ethereum fell 8% to test $3,000 support. Around $670 million was liquidated, mainly in long positions. K33 Research warns of prolonged downside risk from further liquidations.Starknet expanded eligibility for its first round of STRK token provisions, addressing concerns of pre-Merge ETH stakers and Immutable X users. Issues in user classification prompted adjustments, enabling eligible VeVe and non-VeVe StarkEx users to claim tokens. The airdrop schedule was revised, aiming to prevent market disruptions post-airdrop.A Nigerian High Court has ordered Binance Holdings to provide EFCC with data on Nigerian traders following an ex parte motion. The motion alleges criminal elements in Binance's Nigerian operations, citing money laundering concerns. EFCC seeks to conclude a probe into alleged illegal activities, prompting discussions on regulatory measures for crypto platforms in Nigeria.CoinShares, a European digital fund manager, aims to rival its US and European assets within three years. Acquisition of Valkyrie Funds boosts its US presence with $530 million in assets. CoinShares plans innovative products like $WGMI and $BTFX, poised for US market entry alongside SEC-approved spot bitcoin ETFs.Coinbase partners with Compass Coffee to introduce USD Coin payments at its Half Street store, promoting crypto adoption. Customers receive discounts and NFT incentives for using USDC. This collaboration underscores the mainstream acceptance of cryptocurrencies and their potential to revolutionize traditional finance, highlighted by reduced transaction fees and faster processing times.

Visit: CoinGabbar
#cryptonewstoday #cryptocurrency #CoinGabbar #blockchain

Tesla Cars Can Facilitate Dogecoin as a Payment Options
In a recent Berlin Giga Factory event, Tesla CEO Elon Musk shocked the crypto world once again by suggesting the possibility of accepting Dogecoin as payment for Tesla Cars. Responding to a fan's inquiry about using DOGE to purchase Tesla products, Musk's response was "I think we should enable it." However, details on the timeline for implementing Dogecoin payments was not disclosed.

Musk has a history of admiring meme-based cryptocurrency, so his relationship with Dogecoin is not new. In contrast to Bitcoin's reputation as an asset used mostly by the wealthy, he emphasized at the event the attractiveness of Dogecoin as a currency for the general public. Dogecoin began as a playful digital currency that became well-known online through memes
Tesla's potential acceptance of Dogecoin for payments extends beyond speculation, as the company has already been allowing Dogecoin payments for its merchandise since January 2022. The move would further solidify Musk's support for the cryptocurrency, potentially opening up new avenues for its adoption and integration into mainstream commerce.
Impact of the Statement
The impact of Musk's latest endorsement was swift and tangible in the
markets. Following his remarks, Dogecoin's price surged from $0.172 to $0.187, representing an approximate 8% increase in value. Musk's influence on Dogecoin's market activity has been consistent, with his tweets and public statements often triggering fluctuations in its price and trading volume.
The prospect of Tesla accepting Dogecoin payments has generated excitement not only within the crypto community but also among Tesla enthusiasts eagerly awaiting further developments. While specifics on the rollout of Dogecoin payments for Tesla remain unclear, Musk's endorsement has once again demonstrated his ability to drive interest and momentum in the cryptocurrency space.
#cryptonewstoday #CoinGabbar #cryptocurrency #ElonMusk #Dogecoin2024

Visit: CoinGabbar