u1x

#BlackRock and Valkyrie Investments have appointed brokers to invest cash in their proposed Bitcoin spot funds if they receive US regulatory approval, an important step in the competition for the first ETF to track the underlying cryptocurrency.
Bitcoin rose more than 150% in 2023 amid optimism that the Securities and Exchange Commission will finally approve an exchange-traded fund that invests directly in the oldest and largest cryptocurrency, rather than current products that rely on Bitcoin futures. Wall Street heavyweights, including Invesco, Franklin Templeton, and Fidelity, also applied for spot currency ETFs, and Grayscale Investments applied. Investments) with a request to convert Grayscale Bitcoin Trust into an exchange-traded fund.
$BTC
#btc

The market value of all #cryptocurrencies has jumped by about $847 billion since the beginning of this year to reach $1.67 trillion, supported by a 160% rise in the value of #Bitcoin, according to the “CoinMarketCap” website.

The gains that dominated the cryptocurrency market this year are largely due to optimism regarding the approval of regulatory bodies in #America to launch exchange-traded funds that invest in the largest cryptocurrency by market capitalization #Bitcoin.

Speculators in the rise of cryptocurrencies expect demand to witness a sudden boost after this approval, which is likely to occur by next January 10.

#btc #USDT
$BTC

Analysts believe that whoever owns (0.1) BTC now, equivalent to (4,255) dollars invested in Bitcoin, may change the course of the investor’s life during 2024 due to the possibility of the price rising 100 times and producing 425 thousand dollars upon listing and other possibilities.

It is not easy to invest this amount, but this is their opinion currently.

$BTC #BTC #USDT

#bnb_burn

Effectiveness of BNB Token Burning

BNB is one of the most popular cryptocurrencies in the world and is the official token of the Binance exchange. Binance burns BNB tokens on a regular basis, with the goal of reducing the supply of the token and increasing its value.

Short-term impact

In the short term, burning BNB tokens may not have a significant impact on its value. Typically, a small percentage of the total supply is burned, which does not significantly change the overall supply of the token. However, it may lead to an increase in demand for the token, which may lead to an increase in its value in some cases.

Long-term impact

In the long term, burning BNB tokens can have a significant positive impact on its value. The less supply there is of the token, the higher the demand for it, and therefore the higher its value. Burning tokens can also help to reduce inflation and work to boost confidence in the token.

Practical results

Practical experiments have shown that burning BNB tokens has had a positive impact on its value over the long term. Since Binance began burning BNB tokens in 2017, the value of the token has risen significantly.

In 2022, $100 million worth of BNB tokens were burned. This led to the value of the token rising to over $700, which represents an increase of over 1000% compared to the value of the token in 2017.

Other influencing factors

Of course, there are other factors that can affect the value of BNB tokens, such as supply and demand and general economic conditions. However, burning tokens can be an effective tool for increasing the value of the token over the long term.

Sources

Binance official website

Financial news reports

$BNB

**Burning Cryptocurrencies**

**What is it?**

Burning cryptocurrencies is the process of sending a cryptocurrency to an address that cannot be accessed again. This is usually done by the cryptocurrency's developers or community, with the goal of reducing the supply of the cryptocurrency and increasing its value.

**How does it work?**

There are several ways to burn cryptocurrencies. One common way is to send them to a non-existent or invalid wallet address. Another way is to send them to a wallet address controlled by a third party, such as a cryptocurrency burn fund.

**Why do it?**

The idea of burning cryptocurrencies is based on the law of supply and demand. The less supply there is of a cryptocurrency, the higher the demand for it, and therefore the higher its value.

**Is it effective?**

Burning cryptocurrencies can be an effective way to increase the value of a cryptocurrency. However, it is important to note that this strategy does not necessarily guarantee that the value of the cryptocurrency will increase. There are other factors that can affect the value of a cryptocurrency, such as supply and demand and general economic conditions.

**Conclusion**

Burning cryptocurrencies is a business decision that is up to the cryptocurrency's developers or community. It can be an effective way to increase the value of a cryptocurrency, but it is important to weigh the potential benefits against the potential risks.

Follow the next article for more details about how Binance uses this strategy with BNB to increase its price
$BNB #BinanceTrends

#MyFirstFeedPost مرحبًا بك في Binance# Square!

With the new year, what are your expectations for the godfather of digital currencies? $BTC #nft #USDT