Top Cryptocurrency News Today | Binance Square

Top Cryptocurrency News Today | Binance Square

Home Notification Profile Trending Articles News Creator Center Settings News Explore the latest news in crypto Only display important news / All Binance Market Bitcoin Web3 Regulation DeFi Editor’s Pick — Ethereum(ETH) Surpasses 2,500 USDT with a 3.17% Increase in 24 Hours On Feb 09, 2024, 16:16 PM(UTC). According to Binance Market Data, Ethereum has crossed the 2,500 USDT benchmark and is now trading at 2,500.72998 USDT, with a 3.17% increase in 24 hours. 1 — Bitcoin(BTC) Surpasses 47,000 USDT with a 4.09% Increase in 24 Hours On Feb 09, 2024, 15:22 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 47,000 USDT benchmark and is now trading at 47,029.601563 USDT, with a 4.09% increase in 24 hours. 8 — COTI Integrates Multi-Party Computation Protocol into Ethereum-Based Layer-2 Network According to CryptoPotato, fintech platform COTI has successfully integrated the Multi-Party Computation (MPC) protocol into its privacy-focused Ethereum-based layer-2 network. The design and implementation of the MPC protocol for COTI V2 marks the first development milestone achieved this year. MPC allows parties to perform computations on their private inputs using cryptographic protocols without revealing them to each other, ensuring the confidentiality of participants’ data throughout the computation phase. MPC transactions involve parties contributing encrypted data to a designated black box, which processes the inputs and produces a result shared among the participants. This technique maintains privacy integrity even under third-party scrutiny. MPC endpoints, or participants, will be incorporated into an Extended-Ethereum Virtual Machine (EVM) execution module, which facilitates the interaction between the EVM execution module and the collaboration of various MPC endpoints. COTI claims that Garbled Circuits, a cryptographic primitive generated by participants after submitting their workload to the MPC module, are more efficient than the Zero-Knowledge protocol used by other L2 networks on Ethereum for implementing robust privacy protection. These Garbled Circuits are deleted after each execution to ensure forward and backward secrecy on the protocol. COTI’s native token has seen a significant surge recently, with data from CoinMarketCap showing an increase of over 81% in the past week, trading at $0.10 at the time of writing. 3 — Bitcoin(BTC) Drops Below 47,000 USDT with a 5.43% Increase in 24 Hours On Feb 09, 2024, 14:21 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 47,000 USDT and is now trading at 46,877.191406 USDT, with a 5.43% increase in 24 hours. 3 — BlackRock and Fidelity’s Bitcoin ETFs Set Record with Over $3 Billion in Assets According to CryptoPotato, BlackRock and Fidelity’s spot Bitcoin exchange-traded funds (ETFs) have set a new record by amassing more assets in their first month of trading than any other ETF launched in the U.S. in the past 30 years. The development comes amid a new report from earlier this week that showed IBIT was among the top five of the largest ETFs by inflows this year. Bloomberg Intelligence data shows BlackRock’s IBIT and Fidelity’s FBTC have each managed to gain over $3 billion in assets within the first 17 trading days of their launch, a feat unmatched by any of over 5,500 ETFs listed. A Bloomberg ETF analyst, Eric Balchunas, highlighted this in a February 8 post, stating that IBIT and FBTC are in a “league of their own.” Previously, the record for the highest assets under management (AUM) in the debut month was held by BlackRock’s iShares Climate Conscious & Transition MSCI USA ETF, which launched on June 8, 2023, and gathered $2.2 billion. According to Balchunas, the BlackRock and Fidelity ETF results are even more remarkable since most other such products on the list were “Bring Your Own Assets” (BYOA) ETFs, implying that one investor was responsible for all the ETF’s AUM. In contrast, BlackRock and Fidelity’s ETFs experienced inflows every trading day since their launch, a phenomenon Balchunas described as “literally unprecedented.” Balchunas also noted that the data excluded ETFs that underwent conversions, like Grayscale’s GBTC, and around 100 mutual funds that converted to exchange-traded funds. He also noted the mass outflows from Grayscale’s Bitcoin ETF, which have been a factor for the spot Bitcoin ETF performance. The Bloomberg ETF analyst noted competition since ten spot Bitcoin ETFs launched on the same day. The ARK 21Shares’s spot Bitcoin ETF (ARKB) and Bitwise (BITB) ETFs ranked 20th and 22nd, respectively. IBIT and FBTC have gained an advantage over the Grayscale Bitcoin Trust (GBTC), the largest fund by assets under management, in at least two liquidity metrics, according to JPMorgan. The Hui-Heubel ratio, a proxy for market breadth, is approximately four times lower for BlackRock and Fidelity ETFs than GBTC, indicating greater market breadth for the former, JPMorgan says. Additionally, the deviation of ETF closing prices from their net asset value (NAV) has approached that of the SPDR Gold Shares ETF for BlackRock and Fidelity’s ETFs, implying improved liquidity. In contrast, GBTC’s deviations remain higher, suggesting lower liquidity than BlackRock and Fidelity’s ETFs. 5 — Ethereum(ETH) Surpasses 2,500 USDT with a 3.43% Increase in 24 Hours On Feb 09, 2024, 11:55 AM(UTC). According to Binance Market Data, Ethereum has crossed the 2,500 USDT benchmark and is now trading at 2,500.469971 USDT, with a 3.43% increase in 24 hours. 9 — Bitcoin(BTC) Surpasses 47,000 USDT with a 3.32% Increase in 24 Hours On Feb 09, 2024, 11:49 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 47,000 USDT benchmark and is now trading at 47,010.46875 USDT, with a 3.32% increase in 24 hours. 10 — Pendle Nears $1 Billion in Total Value Locked Amid Surge in Liquid Restaking Tokens Interest According to CoinDesk, decentralized finance (DeFi) platform Pendle has reached $990 million in total value locked (TVL), with most of that value locked in within the last six months. This surge in interest comes as the market looks for more opportunities for liquid restaking tokens. Pendle recently added support for the BNB chain and real-world assets (RWA). Pendle operates as a price discovery tool by separating DeFi investments into principal tokens (PTs) and yield tokens (YTs), allowing for the trading of future yields and principal on the open market, thus enabling investors to speculate on and lock in future yield rates. Pendle developer RightSide said in an interview on Telegram that the influx of interest in Liquid Restaking Tokens (LRTs) has been the main driver behind Pendle’s recent growth. Liquid restaking token finance (LRTFi) is a new DeFi field that allows for the liquidity of staked assets through the issuance of LRTs, enabling users to earn rewards while their original assets are locked up for securing network services. Pendle is one of the earliest pioneers of LRTFi, offering a unique proposition for users to speculate on EigenLayer yields and points, according to a Telegram interview. Recently, Pendle expanded to the BNB chain and has begun offering products that allow users to leverage real-world assets (RWA). 7 — US Bitcoin Spot ETF Trading Volume Accounts for 10-15% of Global Centralized Exchange Volume According to Foresight News, data from Unfolded reveals that the trading volume of US Bitcoin spot ETFs accounts for 10-15% of the total Bitcoin spot trading volume on global centralized exchanges. This represents only 3% of the total circulating supply of Bitcoin, or approximately 650,000 Bitcoins. The relatively low percentage of Bitcoin spot ETF trading volume in the US compared to the global market highlights the potential for growth in this sector. As more investors become interested in cryptocurrencies and seek exposure to Bitcoin through ETFs, the trading volume and market share of US Bitcoin spot ETFs may increase in the future. 11 — Binance Market Update (2024-02-09) The global cryptocurrency market cap now stands at $1.71T, up by 3.38% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $44,606 and $46,750 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $46,589, up by 4.35%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include OM, COTI, and DYM, up by 78%, 46%, and 18%, respectively. Top stories of the day: Binance Partners with INTERPOL to Share Expertise in Cyber Policing and Cryptocurrency Investigations Binance Research Explores the Evolving Inscriptions Landscape Bernstein Recommends Buying Mining Stocks for Bitcoin Exposure Bitcoin Crosses $46,000 As Chinese New Year Festivities Begin India’s Central Bank to Introduce Offline Functionality for CBDC Pilot Project Market movers: ETH: $2474.68 (+2.21%) BNB: $322.2 (+1.99%) SOL: $105.89 (+4.33%) XRP: $0.5205 (+1.52%) ADA: $0.5399 (+3.29%) AVAX: $36.23 (+2.29%) DOGE: $0.08146 (+1.86%) TRX: $0.12262 (+0.37%) LINK: $18.389 (-2.73%) DOT: $7.109 (+2.42%) Top gainers on Binance: OM/USDT (+78%) COTI/USDT (+46%) DYM/USDT (+18%) 51 — Bernstein Recommends Buying Mining Stocks for Bitcoin Exposure According to CoinDesk, broker Bernstein suggests purchasing mining stocks to gain exposure to bitcoin, with Riot Platforms and CleanSpark as their top picks. The approval of spot bitcoin exchange-traded funds (ETFs) in the U.S. last month has led to a bottoming out of bitcoin mining companies, and Bernstein advises buying preferred stocks in the sector ahead of the next reward halving. The largest cryptocurrency is expected to maintain momentum for the rest of the year, with the halving event, where miners’ rewards are cut by 50%, set to occur in April. Bitcoin’s price has historically increased after each of the three previous halving events, and the current price is already strong ahead of the upcoming catalyst. Bernstein recommends gaining bitcoin exposure through mining stocks, with Riot Platforms and CleanSpark as their top choices. Analysts Gautam Chhugani and Mahika Sapra believe that positive ETF flows, resilient bitcoin price action, and healthy miners adding capacity into the halving make it a good time to invest in their preferred stocks. They also expect higher prices to lead to higher ETF inflows, resulting in new highs in 2024. Typically, halving events are considered ‘risk-off’ for the sector, as the market aims to clear out high-cost miners operating at unsustainable costs. Bernstein predicts that 15% of the bitcoin hash rate will shut down after the halving, but if prices remain strong, the decline could be more muted. The report also notes that positive ETF flows provide an additional tailwind for the cryptocurrency, with consistent net ETF inflows indicating a bullish market and a higher price-higher inflows feedback loop. 7 — Bitcoin ETFs Experience Third-Largest Inflow Day as BTC Price Soars Over $46,000 According to Cointelegraph:Spot Bitcoin exchange-traded funds (ETFs) saw their third-largest influx on Feb. 8, with a total of $403 million, the same day Bitcoin (BTC) price crossed the $46,000 mark, approaching a new yearly high. This happened despite over $100 million being withdrawn from the Grayscale Bitcoin Trust (GBTC). Bitcoin ETF inflows. Source: Farside Since the launch of these spot Bitcoin ETFs on Jan. 11, they have recorded over $2.1 billion in total inflows, underlining the robust demand for Bitcoin in the market. BlackRock iShares Bitcoin Trust (IBIT), with $204 million, led the pack in terms of inflows, followed by Fidelity with $128 million, ARK 21Shares with $86 million, and Bitwise with $60 million. The remaining seven ETFs combined saw $27 million in inflows. Notably, IBIT surpassed GBTC’s daily trading volume, marking the first time an ETF has achieved this milestone. Bloomberg senior analyst Eric Balchunas pointed out that BlackRock surpassing Grayscale in trading volume is quite a feat, noting that new funds typically take five to 10 years to overtake the category’s “liquidity king.” The positive flow into Bitcoin ETFs is seen as indicative of increased investor appetite for Bitcoin. The net ETF inflows signify that approximately $403 million, or nearly 8,698 BTC, has moved into cold storage. Trading volumes have risen significantly since the US Securities and Exchange Commission approved the listing of spot Bitcoin ETFs. These ETFs saw daily trading volumes exceeding one billion dollars, pointing to heightened investor interest. As the next Bitcoin halving is less than 70 days away, which will reduce the BTC supply from 6.25 BTC to 3.125 BTC per block, the growing institutional demand combined with the diminishing supply could potentially drive BTC to new market highs. 2 — BNB Chain “X” Account Issues Alert on Risky dApps BNB Chain “X” Account has raised an alert about several decentralized applications (dApps) that have been identified as potentially risky, according to a recent tweet from the company. The dApps listed include AMAKUNI, MAGE WARS II, PoPPEcho, and Lucky Star Scription. These dApps were flagged by DappBay’s Red Alarm, a tool that periodically assesses and rates the potential risks associated with different dApps. 8 — Binance Partners with INTERPOL to Share Expertise in Cyber Policing and Cryptocurrency Investigations Binance has continued to strengthen its collaboration with international law enforcement agencies by delivering a virtual law enforcement training session to the International Criminal Police Organization (INTERPOL). The training familiarized INTERPOL officers with Binance’s approach to cryptocurrency investigations and cyber policing in the emerging Web3 space. Having delivered over 120 in-person and virtual training sessions in 2023 under its Global Law Enforcement Training Program, Binance has committed to ramping up these collaborative sessions throughout 2024. The latest training session, held on January 24th, was attended by more than 30 INTERPOL officers. Hosted by Binance’s Financial Crime Compliance (FCC) unit, the sharing session delved into the mechanisms and techniques Binance employs to counter cyber threats. It also provided officers insight into collaborating with Binance on criminal investigations, from data request procedures to the freezing or seizure of illicit funds. Horest Au Yeung, an INTERPOL representative, emphasized the importance of cross-collaboration between industry experts and law enforcement communities, especially considering the rise in digital asset adoption and consequent digital space crimes. Jarek Jakubcek, Head of Law Enforcement Training at Binance, asserted the company’s commitment to maintaining cybersecurity through a holistic and collaborative approach. Jakubcek expressed Binance’s honor in actively shaping safer digital landscapes through the sharing of expertise needed to address cyber threats and cryptocurrency-related crimes. Last year, Binance’s FCC unit hosted 120 training sessions, which garnered highly positive feedback from the law enforcement community. In 2024, Binance reiterates its dedication to strengthening cybersecurity in more regions worldwide through increased cooperation with law enforcement agencies. 6 — Weekly Market Highlights – Solana Restarts After 5 Hours Outage 9 February 2024 Macro/TradFi MicroStrategy purchased an additional 850 bitcoin for US$37.2M in January. The company now holds 190,000 BTC. Ark Invest and 21Shares have amended their spot ETH ETF filing to feature a cash creation and redemption mechanism. Crypto L1/L2: The Dencun upgrade is targeted for deployment on Ethereum mainnet on 13 March. This follows a successful deployment on the Holesky testnet this week. Preorders for Solana’s next-generation crypto phone have reached 60,000, ahead of its tentative 2025 launch. After an unexpected outage lasting approximately five hours on Tuesday, the Solana blockchain network has successfully resumed network operations. Plume Network, a modular Layer 2 solution dedicated to real-world assets (RWA) projects has announced its integration to Arbitrum Orbit. Frax Finance has launched its Ethereum Layer 2 network called Fraxtal for specific partner apps. DeFi: dYdX has unveiled its 2024 product roadmap with a focus on three primary areas – Permissionless Markets, Core Trading Improvements, and UX/Onboarding Upgrades. The founder of DeFiLama has launched smolrefuel, a protocol that allows swaps without ETH as initial gas fees. Restaking primitive EigenLayer has temporarily lifted its staking cap this week. TVL of liquid staking tokens on EigenLayer has exceeded US$3.5B at the time of writing. DeFi credit marketplace Clearpool has announced its launch on Mantle Network. Stablecoin: Paxos announced their adoption of Chainlink’s price feed for PayPal USD (“PYUSD”) to accelerate the adoption of the stablecoin. Social: Daily active users on decentralized social protocol Farcaster have surged more than tenfold to record highs of around 40K users since the introduction of Frames on January 26 NFT: A new experimental token standard, ERC404, has piqued the interest of traders. ERC404 aims to combine the characteristics of fungible tokens and NFTs. Other: Pyth Network has announced the second phase of its retrospective token airdrop. Over 160 dApps using Pyth Data are eligible to receive PYTH Tokens. Cross-chain interoperability protocol Wormhole has announced the airdrop of its native W token. It will have a maximum supply of 10 billion with an initial circulating supply of 1.8 billion Ethereum Name Service has partnered with domain registrar GoDaddy to link traditional domain names to blockchain-based ENS names. MetaMask and Robinhood have partnered to enable in-wallet crypto purchases. Using MetaMask’s Buy Crypto feature, customers can purchase crypto through Robinhood’s order engine. Latest Binance Research Publications Check out our latest publications: Navigating the Inscriptions Landscape Monthly Market Insights – February 2024 DePIN: An Emerging Narrative Explore our Binance Research website for more project and macro research. For more frequent market updates and insights, follow us on Twitter @BinanceResearch. Have a minute? Please share with us any feedback you may have via this form. That’s a wrap! Binance Research Read more https://research.binance.com/en/analysis About Binance Research: Binance Research is the research arm of Binance, the world’s leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes. General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks. 64 — ERC404 Project Pandora Announces Completion of Documentation and Formation as an Entity According to Foresight News, the ERC404 project Pandora has announced the completion of all documentation work, officially becoming a fully-formed entity. The project has grown from a small group of individuals with an idea to an established startup with a team of over 10 people, extensive media coverage, more than 30,000 fans, and daily trading volumes reaching nine digits. An audit will be conducted today, followed by the immediate locking of liquidity. The team will then release new content along with complete documentation, continuing to explore the final Ethereum Improvement Proposal (EIP). 6 — Bitcoin Crosses $46,000 As Chinese New Year Festivities Begin According to CoinDesk, Bitcoin (BTC) crossed the $46,000 mark early Friday, reaching a one-month high as East Asia celebrated the start of the Chinese New Year. The CoinDesk 20 Index, a measure of the largest cryptocurrencies, jumped over 2% during this time. Bitcoin has historically seen gains around the Chinese New Year period, and 10X Research predicts it could rise to as much as $48,000 in the coming days, a gain of at least 11%. In the past two weeks, the asset has added nearly 15%, easing losses as the anticipated bitcoin exchange-traded funds (ETFs) turned out to be a sell-the-news event. Several ETFs have absorbed more than a billion dollars worth of bitcoin selling pressure in the past few weeks, indicating demand. On-chain analysis firm CryptoQuant noted that bitcoin movements out of miner wallets, which signify selling, seemed to slow. Alex Kuptsikevich, FxPro senior market analyst, said in an email to CoinDesk that Bitcoin rose above its 50-day moving average late Wednesday, confirming the bullish medium-term trend and easing fears of a deeper correction. He added that on a weekly basis, bitcoin and the broader crypto market have gained strength after a long period of consolidation and are now poised to make new highs. 17 — BNB Drops Below 320 USDT with a 3.01% Increase in 24 Hours On Feb 09, 2024, 05:34 AM(UTC). According to Binance Market Data, BNB has dropped below 320 USDT and is now trading at 319.899994 USDT, with a 3.01% increase in 24 hours. 13 — Bitcoin(BTC) Surpasses 46,000 USDT with a 3.15% Increase in 24 Hours On Feb 09, 2024, 05:19 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 46,000 USDT benchmark and is now trading at 46,004.628906 USDT, with a 3.15% increase in 24 hours. 13 — US Energy Department’s Mandatory Survey for Bitcoin Miners Faces Criticism According to Bloomberg, the US Energy Department’s new mandatory survey for Bitcoin miners has been criticized as an abuse of authority by the Biden administration. Two groups, including the Texas Blockchain Council, argue that the Energy Information Administration’s (EIA) emergency action is a federal overreach with implications for all industries relying on data centers for their operations. In response, the EIA stated that they conduct numerous surveys with energy producers and consumers and hope to work with cryptocurrency companies to provide a clear understanding of energy use. Bitcoin mining requires significant energy consumption, raising concerns among policymakers and electric grid planners about the strain on US grids and energy-related carbon dioxide emissions. However, miners argue that they help reduce grid stress by turning off and freeing up power for others to use during critical times. 8 Latest News Ethereum(ETH) Surpasses 2,500 USDT with a 3.17% Increase in 24 Hours — Bitcoin(BTC) Surpasses 47,000 USDT with a 4.09% Increase in 24 Hours — COTI Integrates Multi-Party Computation Protocol into Ethereum-Based Layer-2 Network — Bitcoin(BTC) Drops Below 47,000 USDT with a 5.43% Increase in 24 Hours — BlackRock and Fidelity’s Bitcoin ETFs Set Record with Over $3 Billion in Assets — View More Trending Articles Solana Resilience: Rebounding Strong After 5-Hour Downtime – Will $150 Target Be Achieved? Voice Of Crypto BlackRock, Fidelity ETFs See Largest Debut Month of Any ETF in 30 Years Cointelegraph Bitcoin Hits $45,000, Is 50K Next for BTC? 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