Grayscale inflows hit $3.3B in record-breaking fourth quarter

Institutional investors continued to pile into Grayscale products in the fourth quarter, highlighting the continued urgency for exposure to Bitcoin (BTC) and Ethereum (ETH)  Total investments into Grayscale’s family of products reached $3.3 billion in the final quarter of 2020, which translated into average weekly inflows of $250.7 million, the digital-asset manager reported Thursday. That’s a threefold increase from the third quarter when Grayscale products raked in $1.05 billion. Grayscale’s Bitcoin Trust generated $217.1 million in average weekly inflows. The Ethereum Trust saw an average of $26.3 million in new…

$13B Bitcoin futures open interest reflects traders’ strong bullish optimism

Bitcoin (BTC) price recovered by 27% just three days after testing the $31,000 support and earlier today bull recaptured the $40,000 level. This quick recovery occurred despite the digital asset facing one of the largest buy-side liquidations in a single day as $1.5 billion was wiped off the books. Interestingly, futures contract traders appear to have returned with an even larger appetite. After such a large liquidation event, an increased appetite from futures traders is somewhat unexpected but professional investors are skilled at hedging their positions and executing complicated strategies…

Coinbase Creates Open-Door Policy for New Listings

Key Takeaways Coinbase has launched Asset Hub, a service aimed at projects that are seeking an exchange listing. The service makes it easier for projects to request a listing and monitor the status of their request. End users can watch for new coin listings through Coinbase’s blog. Share this article Coinbase has created a new system called Asset Hub that will make it easier for crypto projects to earn a listing on the exchange. Asset Hub Streamlines Submissions According to the announcement, Asset Hub allows projects to request a listing…

Bitcoin payments are the ‘second stupidest idea I’ve heard,’ says Late Show’s Stephen Colbert

Stephen Colbert, the charismatic host of CBS’ The Late Show, isn’t holding back his punches or his jokes when it comes to Bitcoin. In a segment dubbed “Quarantinewhile,” which features a roundup of amusing news stories for viewers to watch while stuck inside, Colbert referenced a recent report from Vice in which hackers took control of internet-connected chastity cages — devices worn by men to prevent them from engaging in any sort of sexual activity — and demanded Bitcoin (BTC) to unlock them. “Getting paid in Bitcoin? That’s the second…

Zcash (ZEC), Kusama (KSM) and Hedget (HGET) soar as Bitcoin hits $40K

The sharp correction in Bitcoin (BTC) may have shaken out many leveraged traders, but the data shows whales and institutions aggressively purchased the dip and now bulls have shown they are determined to push Bitcoin price back above $40,000. The total crypto market capitalization has also recovered and surged back above $1 trillion.  Crypto market data daily view. Source: Coin360 Pantera Capital founder and CEO Dan Morehead said he stands by his earlier prediction of $115,000 for Bitcoin by August of this year. Morehead believes China’s digital yuan developments may boost…

FinCEN Extends Comment Period for Wallet Tracing Rule

Key Takeaways FinCEN has extended the comment period on a draft rule related to transactions done via self-custody wallets. Thousands have written to oppose the rule so far. The extension of the comment period does not guarantee the overturn of the rule, but that remains a possibility. Share this article FinCEN has provided an additional 15 days for comment on a regulatory proposal that would require cryptocurrency exchanges to monitor self-hosted, off-exchange wallets. FinCEN’s New Rule  In December, FinCEN proposed “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital…

Dacxi joins self-regulating trade group CryptoUK as executive member

Digital asset exchange Dacxi is joining CryptoUK, a self-regulatory trade association for the U.K. cryptocurrency industry. According to an announcement from CryptoUK today, Dacxi will be joining the group as its 8th executive member alongside exchanges Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple and Simmons & Simmons. Executive members are responsible for collaborating “to lead the association’s strategic direction” in addition to working with government policy makers in the U.K. to develop a regulatory framework for crypto. Katharine Wooller, the managing director of Dacxi’s U.K. arm, said the addition of the…

Uniswap Now Has More Than $3 Billion in Liquidity

Key Takeaways Uniswap’s liquidity peaked in November 2020 at $3.36 billion, then declined after the DEX’s incentives ended. Now, Uniswap’s liqudity has returned to $3.18 billion. New incentives for liquidity providers are under consideration. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Uniswap’s liquidity is surging. At press time, the decentralized exchange had $3.18 billion of liquidity. Uniswap Liquidity on the Rise Uniswap has reached this milestone without having any liquidity incentive program currently active. Previously, to incentivize Liquidity Providers (LPs),…

Coinbase opens the door to more crypto listings with Asset Hub

Coinbase, the San Francisco-based cryptocurrency exchange, has announced a new platform designed to help issuers list their assets more efficiently — and, possibly, without having to go through the cumbersome listing process currently employed by the firm.  Coinbase Asset Hub is a “simple, streamlined product for issuers to list their assets and business” with the exchange, said Surojit Chatterjee, Coinbase’s CTO. “The goal is a single interface at Coinbase for digital asset issuers to manage the full lifecycle of their assets,” he said. The platform, which was introduced on Thursday,…

New institutions wait for Bitcoin price rollercoaster to end

As a result of the ongoing uptrend, many prominent institutions from the realm of traditional finance have sought to join the crypto bandwagon so as to not miss out on the ongoing action. For starters, a jump in open interest and trading volume for Bitcoin futures has been witnessed across the board over the course of the last couple of months. While that may have been expected, what may come as a surprise is that the Chicago Mercantile Exchange, a global derivatives exchange, recently became the world’s largest Bitcoin futures…