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Are Ethereum ETH Spot ETFs a BIG Fail?

Altcoin Buzz — Tue, 01 Oct 2024 10:08:03 +0000

The $ETH spot ETFs are not performing as good as expected. Can we go so far as call them a failure? We look into various reasons why the $ETH spot ETFs don’t do that great. Should we judge this book by the cover, or is there more to it?

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0:00 Ethereum Spot ETFs
1:24 ETH Spot ETF History
3:57 Reasons for Slow Performance
5:48 Altconi Buzz on Discord
6:03 Is the ETH Spot ETF a Failure?

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Please do your own due diligence and rating before making any investments and consult your financial advisor. We believe that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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THESE 2 DEFI ALTCOIN GEMS HAVE INSANE POTENTIAL

EllioTrades — Mon, 30 Sep 2024 23:42:29 +0000

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0:00 It’s TIME for Alts
1:00 Scammer Warning!
1:40 Altcoin #1
5:05 Altcoin #2
9:09 DeFi will return!
11:00 Support the Channel

#Bitcoin #Altcoins #Ethereum

DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR!

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Altcoin News – Ripple Soars, Cardano Rises, $50,000 Bitcoin in 2018, China Crypto Ban Lift

Altcoin Buzz — Mon, 30 Sep 2024 10:07:21 +0000

This is Altcoin news, from the world of Cryptocurrency. In this round of news we look at Bitcoin’s bullish Territory and if it can pass $50,000 in 2018. Why could Bitcoin’s price be a distraction. Why its only a matter of time before China lifts the crypto exchange ban. We also have a look at updates on cryptocurrency coins such as Ripple, Cardano, WaBi, Oyster Pearl and Vertcoin.

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3 ULTRA Small Cap Altcoins for Sep-Dec 2024

Altcoin Buzz — Mon, 23 Sep 2024 06:50:48 +0000

Being early in crypto is important. Having the opportunity to get tokens at their TGE or when they still have a small market cap, gives potential for 100x to 500x or more gains. That’s why we highlight three small cap gems before the start of the next bull run leg.

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0:00 Being Early in Crypto
1:54 Common Wealth WLTH
4:34 Three Protocol THREE
7:11 Polytrade TRADE

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MicroStrategy raises $1 billion via latest debt offering, reveals it bought 7,420 Bitcoin this week

admin — Sat, 21 Sep 2024 04:22:35 +0000

MicroStrategy, in a Sept. 20 filing with the US SEC, declared the acquisition of 7,420 BTC for $458.2 million at an average price of $61,750 per Bitcoin between Sept. 13 and Sept. 19.

According to the SEC filing, the firm used proceeds from its recent senior notes offering, which raised $1.01 billion, to fund the purchase. Originally targeting $700 million in debt notes, MicroStrategy increased the offering to $875 million due to high demand.

The acquisition follows the firm’s recent purchase of approximately 18,300 BTC for over $1 billion, financed via selling more than 8 million company shares.

These acquisitions have brought the company’s total Bitcoin holdings to 252,220 BTC, purchased for a combined $9.90 billion at an average price of $39,266 per Bitcoin, including fees and expenses.

Data from SaylorTracker indicates that MicroStrategy’s total Bitcoin holdings are currently valued at $15.84 billion, reflecting an unrealized profit of roughly $6 billion.

The Michael Saylor-led company also reported a quarterly Bitcoin yield of 5.1%, with a year-to-date yield of 17.8%.

Following the news, MSTR was up 0.18% as of press time, according to Yahoo Finance data.

Growing interest in MicroStrategy ETFs

MicroStrategy’s ongoing Bitcoin acquisitions coincide with a surge in interest in the firm’s exchange-traded funds (ETFs).

According to Bloomberg Intelligence ETF analyst Eric Balchunas, two recently launched leveraged MicroStrategy ETFs are among the most volatile in US history and are attracting significant attention.

Balchunas noted that the long MicroStrategy ETF recorded $2 million in volume on its first day and was on track to reach $10 million by midday on Sept. 19. He highlighted the fund’s early successes compared to typical ETF launches and noted that “only like 1-2% of ETF launches see this kind of volume this early.”

Speaking on these impressive numbers, Greg King, the founder of Osprey Funds, stated that the ETFs were “one of the most leveraged ways to play BTC” in the current market.

Notably, this isn’t the first leveraged MicroStrategy fund. Defiance ETFs launched a 1.75x MicroStrategy ETF on Aug. 15, which recently surpassed $200 million in assets.

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Bitcoin ETFs record $150 million inflow amid price rebound

admin — Fri, 20 Sep 2024 16:50:31 +0000

Bitcoin price dipped to a daily low of $62,586 after briefly touching the $64,000 mark for the first time this month.

According to CryptoSlate data, the flagship digital asset has since recovered the dip and was trading at $63,127 as of press time.

Nevertheless, the current price reflects a notable recovery from its dip to under $53,000 earlier this month. As of Sept. 20, Bitcoin was up 7.5% over the past week and 3.21% over the past 30 days.

Inflows hit $150 million

Bitcoin’s positive price movement coincides with a significant inflow into spot Bitcoin exchange-traded funds (ETFs).

According to Farside Investors data, Bitcoin ETFs recorded a $158.3 million inflow on Sept. 19, marking a sharp reversal from the $52.7 million outflow recorded on the previous day.

The Ark 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflow. ARKB saw $81.1 million in inflows, followed by $49.9 million for Fidelity’s FBTC. Bitwise’s BITB ETF reported $10.4 million in inflows, while Grayscale’s BTC Mini-Trust and Franklin Templeton’s EZBC received $9.5 million and $7.4 million, respectively.

Notably, BlackRock’s IBIT had its third consecutive day of zero flows.

Meanwhile, Grayscale’s flagship Bitcoin product has seen a reduction in outflows. In recent weeks, outflows slowed to around $4.6 million on Sept. 13, with minimal activity since. Grayscale’s BTC Mini-Trust, which offers lower fees, appears to mitigate further outflows from the product.

Bloomberg Senior ETF Analyst Eric Balchunas highlighted the significance of the recent inflows, noting that Bitcoin ETFs have set a new high of $17.7 billion year-to-date.

Furthermore, Balchunas compared Bitcoin ETFs to gold ETFs, pointing out that gold ETFs account for 1% of the total gold market cap. In contrast, Bitcoin ETFs already make up 5% of Bitcoin’s total market cap despite existing for only nine months, compared to 22 years for gold ETFs.

He added:

“Even if we just use net flows: $17.7 billion is like 1.5% of BTC cap. [It is] so ahead of gold ETF impact (and those assets include a lot of price appreciation) in 9 months flat.”

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Bitcoin’s First Lightning Payment Successful

Altcoin Buzz — Thu, 19 Sep 2024 06:37:23 +0000

A Java Developer just used Bitcoin Lightning Network to successfully complete a payment to his cell phone company. BitRefill is a cellular provider that already accepts Bitcoin as payment, and one customer in particular just made his payment to them using an in-development protocol known as Lightning.

Lightning is one of the proposed scalability solutions for Bitcoin, as well as all of the other coins that are built on the the Bitcoin core. This process allows payments between parties to be setup ahead of time on a private ledger and have the funds transfer back and forth without the required verification on the blockchain. Whenever either party desires to resolve the contract, both parties are credited for the amount of BTC that resides at that time in each of their columns on that Lightning Ledger.

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MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering

admin — Wed, 18 Sep 2024 18:23:20 +0000

MicroStrategy has increased its convertible debt offering to $875 million from $700 million to purchase more Bitcoin, according to a Sept. 18 statement.

The Virginia-based company aims to raise these funds by selling convertible senior notes with an interest rate of 0.625% annually. These unsecured senior obligations will be available to institutional investors in a private sale. The notes are set to mature in September 2028.

The company also revealed plans to offer initial buyers an option to purchase an additional $135 million in notes within 13 days of the first issuance.

MicroStrategy estimates that the net proceeds from this sale will reach approximately $864.1 million. The firm plans to redeem $500 million of its 6.125% Senior Secured Notes due in 2028 with part of the proceeds, while the remaining funds will be used to buy more Bitcoin and for general corporate purposes.

If initial buyers exercise the option to purchase more notes, proceeds could reach $997.4 million.

The notes’ conversion rate is set at 5.4589 shares of MicroStrategy class A common stock per $1,000 principal amount, which represents a 40% premium.

This move follows MicroStrategy’s recent purchase of 18,300 Bitcoin for $1.11 billion. The firm’s total Bitcoin holdings now stand at 244,800 BTC, worth $9.45 billion, or $38,585 per Bitcoin. MicroStrategy reported that its BTC holdings have seen a 4.4% quarterly-to-date yield and a 17% year-to-date yield.

Following this news, MicroStrategy’s stock increased by 2% in intraday trading to $133.23 per share. The stock has surged more than 110% over the past year, according to Yahoo Finance data.

‘Hot Sauce’

MicroStrategy’s latest move coincides with REX Shares and Tuttle Capital Management launching new exchange-traded funds (ETFs) that offer 200% leveraged exposure and -200% inverse exposure to the company’s MSTR shares daily price movements.

According to a Sept. 18 announcement, the T-REX 2X Long MSTR Daily Target ETF (MSTU) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) will trade on the Cboe BZX Exchange.

Bloomberg senior ETF analyst Eric Balchunas commented that REX and Tuttle “re-broke the volatility barrier” with these ETFs, estimating their volatility to be about 15 times higher than that of the S&P 500.

Balchunas added that the new ETFs will likely outperform Defiance’s 1.75x leveraged MSTR ETF, which has already seen strong demand.

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First significant rise in Bitcoin velocity since March shows spike in trading

admin — Mon, 16 Sep 2024 07:04:29 +0000

Bitcoin velocity measures the rate at which coins are circulating within the market. It is calculated by dividing the trailing 1-year estimated transaction volume—or the cumulative sum of transferred tokens—by the current supply of Bitcoin. Velocity is an important metric because it indicates the level of economic activity in the network. A higher velocity means that coins are moving more frequently, suggesting higher transactional activity. In contrast, lower velocity implies that coins are idle, possibly reflecting a long-term holding mentality.

CryptoSlate’s analysis found that Bitcoin’s velocity saw a notable uptick in September. This short-term increase follows a prolonged period of decline that began in mid-March. To understand the significance of this uptick, we must examine both the recent spike and the long-term downward trend in velocity.

Graph showing Bitcoin’s velocity from Aug. 13 to Sep. 13, 2024 (Source: CryptoQuant)

Bitcoin velocity began to increase after months of steady decline at the end of August 2024. This short-term increase suggests a renewed wave of market activity. While the uptick is not substantial in absolute terms, it marks the first notable rise in Bitcoin velocity in months. This suggests that after a period of consolidation, the market could be preparing for more active participation.

Spurred by external developments and expectations of further price movements, traders have begun to move their holdings again. This could be due to various factors, but it usually boils down to volatility—when prices move significantly, trading activity spikes as the market races to capture profit or cut losses from the price swings, increasing transaction volume and velocity.

However, this short-term spike stands in stark contrast to the broader trend. Historically, Bitcoin’s velocity has been on a steady decline. After reaching its peak during the 2013 bull market, velocity has declined significantly. While there were notable spikes in 2017 and 2021, corresponding with Bitcoin’s historic bull runs, velocity quickly dropped off afterward, returning to lower levels. This prolonged decline reflects a significant shift in how Bitcoin is used within the market.

Graph showing Bitcoin’s velocity from 2009 to 2024 (Source: CryptoQuant)

Over time, Bitcoin has increasingly been perceived as a store of value rather than a medium of exchange. Long-term holders tend to accumulate Bitcoin with the expectation of future appreciation, reducing the need for frequent transactions. As institutional adoption has grown, so has the long-term accumulation trend.

Large institutional players tend to move Bitcoin in larger but less frequent transactions. This behavior contributes to the lower overall velocity, as institutions are generally less interested in frequent trading than retail participants. This has become especially evident in 2024 with the spike in institutional demand from spot Bitcoin ETFs.

While the spike in velocity we’ve seen since the beginning of September is significant in the short term when considering the market, it’s still minuscule compared to the general downward trend in 2024.

Graph showing Bitcoin’s velocity from Jan. 1 to Sep. 13, 2024 (Source: CryptoQuant)

The current uptick in velocity suggests that the market may be entering a more active phase after a long period of consolidation. It could be an early indicator of renewed interest and speculative activity, possibly signaling a bullish outlook.

The broader market continues to be dominated by long-term holders, with HODLing and institutional involvement contributing to the overall decline in velocity. Unless this recent uptick is accompanied by sustained price appreciation and broader market activity, it’s unlikely to lead to a long-term reversal of the declining velocity trend.

The post First significant rise in Bitcoin velocity since March shows spike in trading appeared first on CryptoSlate.

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⚠️URGENT Message Crypto Traders | 4 Altcoins That Could Explode in March🚀

Altcoin Buzz — Mon, 16 Sep 2024 05:48:03 +0000

Here are four altcoin projects that we expect to do well in crypto during March 2023.

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TIMESTAMPS
0:00 Top Altcoins for March 2023
0:47 Polygon MATIC
3:27 Frax Finance FRAX
5:27 Stacks STX
7:37 Filecoin FIL

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10 ALTCOINS TO 100X YOUR MONEY IN 2020!!! 🚀

Altcoin Buzz — Sun, 15 Sep 2024 05:05:41 +0000

What are the Top 10 low cap altcoins which could go parabolic to give you massive gains in 2020?

Bitcoin is the safest crypto out there and Ethereum comes second. But neither is likely to make you 100x over the coming year. Some of these coins we are talking about today, however, just might.

We go over what these cryptocurrencies are and what they are trying to achieve. We also look at two cryptos which are likely to pump within the coming week. These are the best cryptocurrency investments according to our due diligence.

00:00 Video overview
01:10 Bearish on ETH short term
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10:04 FUSE (FUSE)
11:30 Linear (LINA)
12:34 Falconswap (FSW)
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14:44 VIDT Datalink (VIDT)
16:40 DegenVC (DGVC)
18:27 Conclusion

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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Cybersecurity Altcoin Replacing Passwords | Remme ICO Review

Altcoin Buzz — Sat, 14 Sep 2024 04:05:27 +0000

Remme is a practical approach to improving upon existing technologies using the blockchain to secure access to networks and data. By Utilizing an SSL certificate that is decentrally distributed and authenticated on the blockchain, these certificates cannot be duplicated or hacked. To take it one step further, logins will also require Two Factor Authentication using Telegram 2FA.

This sponsored ICO Review of Remme (REM) is brought to you ad-free courtesy of the Remme team.

While this review is sponsored, AltCoin Buzz does not talk about ICOs that we do not personally believe in. These are ICOs that we would personally invest in, but we still encourage each of you to do your own research prior to making any and all investments, as well as take responsibility for your own actions.

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Cleanspark’s $27.5M expansion to boost Bitcoin mining power by 22%

admin — Wed, 11 Sep 2024 20:41:34 +0000

CleanSpark is set to acquire seven Bitcoin mining sites in Tennessee, along with associated properties, for $27.5 million, according to a Sept. 11 statement.

The miner stated that these facilities have a combined power capacity of 85 megawatts (MW), which means the deal equates to about $324,000 per MW.

The company expects to finalize the acquisitions at each site by Sept. 25.

Hash rate increase

CleanSpark noted that the new sites are expected to reach a total hash rate of 5 exahashes per second (EH/s) once the latest S21 Pro miners are fully installed. This is projected to increase its current hash rate by over 22%.

Zach Bradford, CleanSpark’s CEO, said the company could reach 37 EH/s by the end of 2024 with the addition of the new facilities while also highlighting the firm’s progress in energizing its Dalton 4 campus last week, which helped it to exceed 23 EH/s.

Bradford also emphasized the company’s strategy of capitalizing on favorable market conditions for mining server purchases. He said:

“As we’ve previously discussed, our timing of the market on mining server purchases intentionally locked in low prices so that we could take advantage of opportunities like this and immediately fill acquired data center space. The GRIID acquisition, our recent closing in Wyoming, and now this new transaction represents the continued execution of our growth strategy. “

He further noted that Tennessee offers a political and energy environment similar to Georgia, where CleanSpark has already invested nearly $1 billion and operates close to 500 MW.

Despite the acquisition news, the company’s stock value declined. According to Yahoo Finance data, CLSK was trading down approximately 2%, at $9.19 as of press time.

Bitcoin production

This acquisition comes shortly after CleanSpark announced it had mined 478 BTC in August and increased its operational hashrate by 1.4 EH/s. The firm stated that it held 7,558 BT as of Aug. 31.

It added:

“The Company sold 2.5 bitcoin in August 2024 at an average price of approximately $56,729 per bitcoin. The average hashrate throughout the month of August was 21.3 EH/s resulting in an average of 15.43 bitcoin mined daily and a single day high of 17.88.”

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Bitcoin mining difficulty hits record high of 92.67 trillion amid falling miner revenues

admin — Wed, 11 Sep 2024 18:36:27 +0000

Bitcoin mining difficulty climbed 3.6% on Sept. 11 to reach an all-time high of 92.67 trillion, according to

CryptoQuant showed that the increase comes as miner profitability continues declining, further putting pressure on the firms struggling since April’s halving event.

Bitcoin mining difficulty

Bitcoin’s mining difficulty adjusts every two weeks after the completion of 2,016 blocks, designed to ensure stable block discovery times.

When the difficulty rises, miners need more computational power to mine each block. This increase typically indicates more miners joining the network, raising the overall workload. A higher difficulty also strengthens the blockchain, increasing the energy required for network attacks.

Alongside this, Bitcoin’s hash rate is climbing steadily, averaging 693 exahashes per second (EH/s) based on a seven-day moving average.

The hash rate measures miners’ computational power to process transactions and mine BTC. It shows how many calculations mining equipment performs per second to solve the mathematical problems necessary to validate transactions and add new blocks to the blockchain.

Hashprice decline

Meanwhile, Bitcoin’s hashprice, a measure of miner revenue, fell to a record low of less than $40 per petahash, according to Hashrate Index data.

Hashprice estimates how much miners earn based on the computational power used for mining.

Digital Mining Solutions founder Nico Smid stated:

“Hashprice tried rebounding but was pushed back down to its historic lows by the difficulty adjustment.”

Meanwhile, the continued decline may spell disaster for many mining operations, especially those already operating at a loss since the April halving, which reduced their rewards to 3.125 BTC from 6.25 BTC.

This has led to some miners diversifying their operations to include providing services for AI companies. However, Luxor Technology noted that Fractal Bitcoin, a scaling solution native to Bitcoin, could offer miners an additional $1.41 in revenue per PH/s/day.

It stated:

“The coinbase reward on Fractal is 25 coins for each block. And as of now, the market is pricing in ~$15 FB coin value. So, the total dollar value of FB coins available for Bitcoin miners per day is 960 blocks x 25 FB x $15 = $360,000.”

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“Bitcoin should be BORING?” 🧐Pomp breaks down crypto investing and content creation in 2020!

EllioTrades — Wed, 11 Sep 2024 14:15:21 +0000

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btc Archives - Top Crypto Game

Are Ethereum ETH Spot ETFs a BIG Fail?

THESE 2 DEFI ALTCOIN GEMS HAVE INSANE POTENTIAL

Altcoin News – Ripple Soars, Cardano Rises, $50,000 Bitcoin in 2018, China Crypto Ban Lift

3 ULTRA Small Cap Altcoins for Sep-Dec 2024

MicroStrategy raises $1 billion via latest debt offering, reveals it bought 7,420 Bitcoin this week

Growing interest in MicroStrategy ETFs

Mentioned in this article

Bitcoin ETFs record $150 million inflow amid price rebound

Inflows hit $150 million

Mentioned in this article

Bitcoin’s First Lightning Payment Successful

MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering

‘Hot Sauce’

Mentioned in this article

First significant rise in Bitcoin velocity since March shows spike in trading

⚠️URGENT Message Crypto Traders | 4 Altcoins That Could Explode in March🚀

10 ALTCOINS TO 100X YOUR MONEY IN 2020!!! 🚀

Cybersecurity Altcoin Replacing Passwords | Remme ICO Review

Cleanspark’s $27.5M expansion to boost Bitcoin mining power by 22%

Hash rate increase

Bitcoin production

Mentioned in this article

Latest Alpha Market Report

Bitcoin mining difficulty hits record high of 92.67 trillion amid falling miner revenues

Hashprice decline

Latest Alpha Market Report

“Bitcoin should be BORING?” 🧐Pomp breaks down crypto investing and content creation in 2020!