Bitcoin Price: US$ 56,705.18 (+1.50%)
Ethereum Price: US$ 3,019.01 (+3.00%)
Cardano has released Node 9.0, marking the final development step for the upcoming Chang hard fork and the beginning of the “Age of Voltaire”. This will introduce Delegate Representatives (DReps), although exchanges and stake pools are yet to prepare for the hard fork. In parallel, BlackRock’s USD Institutional Digital Liquidity Fund, BUIDL, has achieved a milestone by becoming the first tokenised treasury fund to reach a $500 million market cap. Contributing to the $1.67 billion worth of tokenised treasury funds onchain, BUIDL, held by Ondo’s OUSG and Mountain Protocol’s USDM, pays daily accrued dividends directly to investors each month. Meanwhile, the Chicago Board Options Exchange (CBOE) has filed applications to list VanEck and 21Shares’ proposed Solana ETFs, with a final decision from the SEC expected around mid-March 2025. This approval and subsequent launch of spot Solana ETFs in the United States could potentially drive up the price of SOL by a factor of nine.
The Republican National Committee (RNC) has integrated cryptocurrency support into its official policy platform, advocating for Bitcoin mining and opposing Central Bank Digital Currencies (CBDCs), in a move aligned with Donald Trump’s campaign, which now accepts crypto contributions and promotes U.S. Bitcoin mining despite his earlier critical stance on cryptocurrencies. Meanwhile, VanEck and 21Shares have submitted amended filings to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of spot Ether exchange-traded funds (ETFs), with final approvals anticipated soon, following the SEC’s approval of similar applications from other asset managers, signalling potential Ether ETF launches in the near future. After a significant price drop in June, Bitcoin may have reached a local bottom according to Bitfinex analysts, despite ongoing uncertainties such as Mt. Gox’s creditor repayments, with factors indicating a potential recovery including minimal market impact from government-seized Bitcoin sales and positive signs from financial metrics like the Spent Output Profit Ratio (SOPR) and funding rates.
A new CoinShares report revealed $441 million in inflows for digital asset investment products, with Bitcoin seeing $398 million, driven by market weakness and selling pressure from Mt. Gox and the German government. The United States led with $384 million in inflows, while Germany saw $23 million in outflows, with significant activity around Mt. Gox’s creditor repayments and the German government moving 3,000 BTC to exchanges. Meanwhile, Japanese investment firm Metaplanet announced a $2.5 million Bitcoin purchase, bringing its total holdings to 203,734 BTC despite a drop in BTC prices; this aggressive acquisition strategy initially surged its stock, which later tumbled amid Bitcoin’s price decline but remains significantly higher than at the start of 2024. Additionally, at least three Coinbase users reported losing funds to scammers impersonating Coinbase staff, with one victim losing $1.7 million after sharing part of their seed phrase in a scam involving fake calls and emails appearing to be from Coinbase, directing victims to enter their seed phrases on fraudulent websites, leading to significant financial losses.
Source: https://cointelegraph.com
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