Author: finance
In a recent turn of events, Robinhood Markets has reached an agreement to pay a hefty sum of $45 million to settle a myriad of cases filed against it by the US Securities and Exchange Commission (SEC). The public document released by the SEC reveals that the company was found guilty of violating regulations related to blue sheet filing, identity theft and suspicious activity reportage, inclusive of a data breach from 2021 which led to a massive exposure of customer data. The focal units held accountable for accepting and executing trades, Robinhood Securities and Robinhood Financial, both subsidiaries of Robinhood…
In the dynamic world of cryptocurrency, the return of the Meme-Coin season has triggered quite a frenzy, with Fartcoin leading the excitement. The token, showcasing a staggering 60% rise within the span of 24 hours, has not only reclaimed the crucial $1 mark but is also inching closer to significant resistance levels that could potentially pave its way towards the $2 mark. Resistance at $1.15 Despite witnessing a dip to $0.67 during the recent market slump, Fartcoin has demonstrated an impressive recovery. Currently valued at $1.11, the token is on the edge of overcoming the $1.22 resistant level. This level…
As the world of cryptocurrency sees a resurgence, investors are keenly monitoring the scenarios unfolding. One especially significant development is MicroStrategy’s recent investment of $243 million in Bitcoin (BTC), which comes hot on the heels of the BTC price rebounding from a recent slump to $89,200. Remarkably, the largest cryptocurrency has bounced back to over $95,000, with multiple altcoins such as Ethereum, XRP, and AAVE showcasing strong gains. This article shines a spotlight on these developments, unravelling the implications they hold for the future of Bitcoin. MicroStrategy’s Persistent Investment in Bitcoin Making a significant move in the cryptocurrency landscape, MicroStrategy…
As the crypto market continues to evolve, many investors are keeping a close eye on Cardano as its price fluctuates. In the past seven days, the Cardano price has declined by over 13%, causing it to dip below $1. However, financial analysts are currently viewing this dip as a potential buying opportunity. The question that now lingers among many investors is should one buy Cardano now or look for other cryptocurrencies with potential? Currently valued at just below the symbolic $1 mark at $0.98, Cardano, which holds the ninth position in the crypto market, has experienced a period of consolidation…
As we delve deeper into the digital age, the incorporation of Bitcoin into corporate treasuries has witnessed an astonishing surge. This trend, unnoticed by many, is gaining traction at an alarmingly rapid pace. Bitwise’s Chief Investment Officer (CIO), Matt Hougan, in his recent memo, asserts that hundreds of corporations worldwide will integrate Bitcoin into their treasuries within the next 12-18 months, propelling the Bitcoin market to greater heights. Emergence of a Bitcoin Megatrend Hougan’s memo, “Companies Buying Bitcoin: An Overlooked Megatrend,” spotlights how this trend is far more pervasive than generally perceived. While MicroStrategy and its founder, Michael Saylor, often…
As we step into the dawn of a new year, the Bitcoin (BTC) market has once again become the focus of the financial world. Despite starting on a bullish note, the premier cryptocurrency quickly lost ground, slipping below $95,000 and stirring uncertainty among investors. This article aims to shed light on how the most valuable cryptocurrency may fare by the end of the month by examining Bitcoin’s historical returns and price patterns. History of Bitcoin Returns in January To better ascertain Bitcoin’s potential trajectory, we delved into the data sourced from the Coinglass platform, calculating Bitcoin’s average and median historical…
Delving into the world of cryptocurrency, it appears that Bitcoin’s smallest investors, fondly referred to as the ‘Shrimps,’ are once again accumulating the digital asset. As per an analysis provided by on-chain analytics firm Glassnode, these investors who hold less than one full token in their wallets have increased their share of the total supply to a notable 6.9%. Bitcoin’s Small Investors are Resurfacing Glassnode’s report gives a fascinating glimpse into the behavior of Bitcoin’s modest investors. The trend in the supply held by the Bitcoin Shrimps, which had been on a downward trajectory until recently, appears to have reversed…
The recent surge in Ripple’s price, breaking through the $2.50 mark, has captured the keen attention of the crypto market. Numerous technical signals and a growing interest in XRP indicate that the cryptocurrency is set for a significant period. However, the question remains: could Ripple hit 10 euros? With its social engagement soaring to new heights, Ripple accounts for 5.8% of all crypto conversations. These discussions often precede a notable market movement, yet investors must remain cautious of speculative behavior leading to increased volatility. The Impact of Social Dominance on Price Movement Historically, an increase in social dominance correlates with…
The Italian banking giant Intesa Sanpaolo has taken a significant leap into the world of digital currencies, acquiring $1M worth of Bitcoin (BTC). While this is relatively modest when juxtaposed with the recent $101M purchase by MicroStrategy, it is a significant foray into the crypto sphere for Italy’s financial sector and may set the tone for other players within the industry. A New Wave of Crypto Acceptance in Italian Banking The revelation of the Bitcoin purchase, confirmed by the head of the Trading and Investment division for Digital Assets at Intesa Sanpaolo, Niccolò Bardoscia, was first unveiled on the online…
In the ever-evolving landscape of digital currencies, Finances Zippy brings you the latest update: Tether, the globally acclaimed stablecoin provider, has revealed its intention to establish its headquarters in El Salvador. Following their successful procurement of a Digital Asset Service Provider (DASP) license—an important accomplishment in their quest for increased Bitcoin adoption globally—Tether sees the move as its next step forward. Relocation Plans: Tether Sets Sights on El Salvador Taking a closer look at Tether’s intended move, the company’s CEO, Paolo Ardoino, shared with Reuters that while the company’s founders and management team are relocating to El Salvador, rest of…