Bitcoin’s supply–demand balance narrowed further last week as corporate treasuries captured a dominant share of new issuance. Last week, two publicly traded firms, Strategy and Tokyo-listed Metaplanet, purchased more than $230 million worth of BTC. According to their separate announcements, their combined acquisitions, totaling 2,091 BTC, represented about two-thirds, or 66%, of all coins produced
Key Takeaways Chainalysis has expanded its XRP Ledger functionality with automatic token recognition. This enhancement will allow better tracking and identification of tokens on the XRP Ledger network. Chainalysis has expanded its blockchain analytics support for XRP Ledger (XRPL), adding automatic recognition for over 260,000 tokens on the network, including fungible, non-fungible, and multi-purpose tokens,
Key Takeaways Upbit, South Korea’s largest crypto exchange, is launching a blockchain network called ‘Giwa’ chain. This move signifies Upbit’s entry into blockchain infrastructure development, expanding its business beyond exchange services. Dunamu, the company behind South Korea’s leading crypto exchange Upbit, is rumored to be developing a new blockchain project under the name GIWA, according
Key Takeaways Kazakhstan’s president has urged the creation of a national Bitcoin reserve. The plan, driven by the National Bank’s investment arm, would accumulate strategic crypto assets central to financial innovation. Kazakhstan’s leader, Kassym-Jomart Tokayev, is pushing for the quick establishment of a “full-fledged” digital asset ecosystem, including a state-administered crypto reserve, Akorda Press, the
Stocks gained on Monday as Wall Street continued to bet that the Federal Reserve will cut interest rates this month. Summary S&P 500 and Nasdaq rose as stocks began the week largely in the green. Wall Street will be keen on two important inflation reports this week. Investors are optimistic as they eye Federal Reserve’s
Strategy (formerly MicroStrategy), along with the rest of the crypto treasury industry, got spooked last week after Nasdaq issued new rules about selling stock to buy digital assets. Unlike traditional enterprises that aim to profit by selling goods or services, crypto treasury companies primarily buy crypto on leverage by selling corporate debt, equities, and derivatives.
Last week saw a noticeable uptick in cryptocurrency activity, reflected in a roughly 3% increase in global crypto market capitalization. With improving sentiment in the broader crypto market and a series of ecosystem updates, investors are turning their attention to related stocks that could benefit from this momentum. HIVE Digital Technologies Ltd. (HIVE) The Bitcoin
While some analysts are waiting for the FED’s interest rate cut decision for Bitcoin to rise, some analysts think that the FED’s interest rate decision will not be enough to boost BTC. While analysts say that spot ETF inflows need to turn positive for the rise, CoinShares published its weekly cryptocurrency report and said that
Robinhood (HOOD) stock soared 15% on Monday following the company’s inclusion in the S&P 500, the widely tracked benchmark for U.S. equities. The announcement was made after markets closed on Friday and takes effect with the index’s September 22 rebalance. The trading platform, which has seen its stock price nearly triple this year, has long
Tetra Digital Group, a digital asset custodian based in Alberta, Canada, said on Monday it has raised around $10 million to develop and issue a regulated stablecoin pegged to the Canadian dollar. Backers of the project include Shopify, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank and Urbana Corporation, which has held a majority stake