VanEck predicts #Bitcoin 💰 could hit $2.9 million by 2050 🚀

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NEW: 💰 7D Bitcoin Hashrate hits NEW ALL TIME HIGH of 661,000,000,000,000,000,000 hashes/s! ⚡️

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BREAKING: 💰 $108 billion VanEck CEO says he owns “way over 30%” of his portfolio in Bitcoin

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The U.S. Bitcoin ETF holds 914k BTC worth $62 billion.

Assets under management grew 2.15 times its original size (in U.S. dollars) as of January 11, 2024.

Assets under management grew 1.44 times its original size (in BTC) as of January 11, 2024.

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💰 JUST IN: US spot Ethereum ETFs saw $33.6 million in net inflows, ending a negative flow streak.

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Bitcoin's dominance has reached approximately 54%.

📈 This is the highest level since April 2021.

👀 Notably, bitcoin dominance began to rise sharply with the launch of the Ethereum ETF, when the price of ETH declined, reducing the market capitalization of the second-largest cryptocurrency and its percentage of the overall pool.

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📈 In July, major Bitcoin holders bought over 84,000 BTC, valued at around $5.4 billion, marking the biggest single-month increase since October 2014!

These large holders, controlling at least 0.1% of Bitcoin’s supply, took advantage of the price volatility. They accumulated BTC when prices fell below $55,000 and paused as they neared $69,000.

Analysts believe that this strong accumulation indicates confidence that the current consolidation phase will lead to a bullish breakout, extending the rally from $16,000. 🚀💰

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Bloomberg reports that Genesis Global, a lending platform, has concluded its bankruptcy process and begun distributing approximately $4 billion in cryptocurrency and cash to its clients.

💰 Creditors in BTC will get back 51.28%, Ethereum creditors will receive 65.87%, and SOL creditors will obtain 29.58%. The distributions will be made in kind.

This development adds further pressure to the declining crypto market. 🧐

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Bitcoin Cash - Born from Disagreement, Built for Speed

Bitcoin Cash (BCH) emerged on August 1, 2017, from a fundamental rift within the Bitcoin community over how to scale the network. The Bitcoin Core developers championed Segregated Witness (SegWit) to enhance transaction capacity, while another faction advocated for increasing the block size limit to handle more transactions.

This clash of visions led to a hard fork, birthing Bitcoin Cash. With an initial block size limit of 8 MB, later expanded to 32 MB, Bitcoin Cash aims to provide faster and cheaper transactions, offering a distinct alternative to Bitcoin's scaling approach.

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Bloodbath in the Cryptocurrency Market

📉 Bitcoin's price fell below $50,000, and Ethereum's price dropped to $2,100.

The total volume of liquidations on exchanges in a day exceeded $1 billion, with the majority being long positions in ETH and BTC.🪓

There has been a rebound now; Bitcoin is at $53,000 and Ethereum is at $2,360.

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The amount of BTC sold at a loss yesterday was comparable to the period of massive sell-offs following the mining ban in China and the collapse of the FTX exchange. 🧐

As we can see, history teaches us that people do not learn from it. 🤷

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😎Binance has $100 billion in crypto assets

Binance has seen a net inflow of $1.2 billion, CEO Richard Teng said.

This is one of the highest daily inflows in 2024, which “indicates strong investor confidence.”

It also saw one of the highest daily trading volumes since the start of the year.

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TON is being listed on Binance today!

👀 It’s strange why the exchange took so long with this listing, especially when NOT has been on Binance for three months already.

Nevertheless, the community has received this news with enthusiasm, and TON has already grown by 9% in the last 24 hours. 📈

The listing will take place at 10:00 UTC. ⏳

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The crypto market is recovering 📈

BTC is trading above $60k, and ETH above $2.6k.

Fear and Greed Index — 48 (neutral sentiment). 🧐

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Is Bitcoin Losing Its Volatility?

In 2024, there have been only 25 days with high price volatility.

In comparison, previous cycles recorded 56, 140, and 64 such days, respectively. 🧐

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The capitalization of the largest stablecoin Tether (USDT) has almost reached $115 billion

•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.

•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.

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The Fear and Greed Index has once again fallen back to the "Extreme Fear" zone. 📉

Bitcoin is trading at $58,000, and Ethereum at $2,590. 👀

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💵 USDT and USDC $53 bln per day - this is above the annual average.

The record inflow per day was recorded at the bitcoin price of $70,000, when $72 billion worth of stablecoins were deposited on exchanges.

The increase in the inflow of stablecoins directly correlates with BTC purchases, CryptQuant analysts note.

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MetaMask has announced its own crypto card. 🦊

💳 The card is developed in collaboration with Mastercard and the payment company Baanx.

The pilot launch will take place in the European Union countries and the United Kingdom, with other regions to follow later.

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The US government transferred 10,000 BTC to Coinbase Prime.

Such transfers usually indicate a sale of the asset. This could be one of the reasons for the Bitcoin price drop to $58,000. 📉

Currently, the US account holds around 202,000 BTC. 👀

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