Glassnode, the Sherlock Holmes of on-chain analytics, spilled the tea on X (formerly Twitter, because why not?). Both Bitcoin and Ethereum spot ETFs have been on a negative netflow bender, according to their 30-day simple moving average (SMA). Fancy jargon, but basically, money’s been leaving faster than Mark Darcy at a singles’ night.
Bill No. 4,501 of 2024, a document as grandiose as it is naive, proposes the establishment of the Sovereign Strategic Reserve of Bitcoins, or RESBit. A name that rolls off the tongue with the gravity of a state decree, yet carries the substance of a mirage. Federal Deputy Luiz Gastão, the architect of this scheme, and his scribe, Deputy Eros Biondini, seek to enshrine Bitcoin as a pillar of Brazil’s financial strategy. A cryptocurrency, born of the internet’s anarchic depths, is to be crowned a guardian of national wealth. What a spectacle!
As the regulatory waters around digital assets grow murkier than a swamp after a storm, Ripple Labs Inc. threw a comment letter into the mix on February 6. They’re clamoring for the Fed to shake up its proposed Reserve Bank Payment Account framework, hoping it will roll out the welcome mat for stablecoin issuers and those snazzy digital payment facilitators.
Paul suggested the cryptocurrency market may have already hit its high point, especially for the current generation of digital currencies. While crypto has gained momentum from increased public awareness, supportive policies, and fewer regulations, its practical use in everyday life hasn’t grown as quickly. Experiments like El Salvador’s use of Bitcoin and attempts by companies haven’t been entirely successful, indicating the market could still fall further, particularly if there are major sell-offs.
Between December 2019 and October 2021, prosecutors say a scheme collected money from over 90,000 people by promising high profits from fast-paced Bitcoin trading. During that time, the operation received at least 8,198 Bitcoin, worth around $171.5 million.
According to TokenTerminal data, it processes roughly three times more daily transactions than Ethereum L1 and all L2s combined. This scale proclaims Solana as a high-throughput sovereign of execution, and we are all astonished-until we remember that speed is not virtue, merely a loud wind through a cathedral of code.
This committee, a veritable who’s who of the financial world, assembles senior leaders from traditional finance, market infrastructure firms, and the digital asset sector. Their mission? To advise the CFTC on the emerging technologies that are, dare I say, shaking the very foundations of derivatives and commodity markets. How thrilling!
The crypto assets took another plunge off the diving board of despair last Friday, with a nice big splash as the market floundered. In a dazzling display of financial acrobatics, about $2.9 billion in Bitcoin and Ether contracts expired faster than my New Year’s resolutions. Who knew watching numbers drop could be this thrilling?
Market data shows that H’s rally is defying typical bearish chart patterns. Instead of breaking down, the price continues climbing and testing new highs. Momentum has surged more than 40% and stabilized around $51.75 million, underscoring strong investor participation-as if the market has developed a taste for suspense and a fondness for dramatic entrances.
