Linda Johnson

Bitcoin At $45,000 Is Mispriced, Will Race For ETF Fees Push Prices To Record Highs? Learning From Gold And Quest For Fees Kang points to gold ETFs, which hold over $120 billion in assets under management (AUM) and generate an estimated $720 million in annual fees for their issuers. ETF issuers will charge a management fee to cover the costs associated with operating the ETF, including custody of coins and trading. Additionally, a fee will be charged through the bid-ask spread whenever Bitcoin is traded. When trading and management fees are stacked, Bitcoin issuers could generate billions of dollars yearly, especially if trading volume is high. By Kang’s estimation, Bitcoin ETF issuers might generate between $10-20 billion in annual fees. However, this is subject to dominance. After the Securities and Exchange Commission (SEC) approves multiple spot ETFs, issuers, including BlackRock and Fidelity, are expected to wage an aggressive battle for market share. The goal for issuers is not only to ensure that funds spent on advertising yield, but for every dollar spent, more is generated into the future. This is critical because investors are less likely to switch once they choose an ETF, making early dominance crucial for long-term revenue generation. #CryptoNews

South Korean blockchain Klaytn onboards gold RWA DeFi platform Klaytn Foundation, the establishment behind the South Korea-born public blockchain Klaytn, announced today that it has onboarded $GPC (Gold-Pegged Coin) and its supporting DeFi platform Goldstation on its blockchain. Klaytn, the blockchain developed by South Korean internet giant Kakao, said in a statement shared with The Block that CREDER, a South Korea-based digital transformation firm, launched the $GPC token, making it the first gold token to be offered on DeFi outside of Ethereum. It is also the first tokenized gold that does not charge a percentage-based fee for transactions, according to Klaytn. Klaytn said $GPC users will benefit from Klaytn blockchain’s low gas fees, allowing them to allocate small investments to purchase gold. Crossing out percentage-based transaction fees could also ensure the cost-effectiveness of trading gold tokens on DeFi, Klaytn added. “Klaytn Foundation has been working together with CREDER’s meticulous preparation for $GPC and Goldstation,” Sam Seo, representative director of Klaytn Foundation, said in the statement. “Moving forward, we will closely cooperate with them to deliver more diverse metal RWA tokenization projects for the domestic and global markets.” Goldstation said it will commence services, including $GPC staking, on Jan. 24. The platform intends to start by serving South Korean residents but plans to launch globally in the future. #CryptoNews

Bitcoin (BTC) Price Prediction 2024-2030: Will BTC Price Hit $75,000 Soon? Bitcoin (BTC) is the most prominent cryptocurrency with tremendous growth potential. Over the years, BTC has also gained significant recognition in the economy, being acknowledged by governments and used as a medium of payment among users. Bitcoin was first defined as a decentralized digital currency in an essay published in 2008 under the identity of Satoshi Nakamoto. It debuted in early 2009, not long afterward. As a decentralized digital currency, Bitcoin eliminates the need for a central authority to process or verify transactions. As Nakamoto put it, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” Although there have been earlier proposals for decentralized electronic currencies, Bitcoin is the first cryptocurrency to be widely used. Below, we detail the primary considerations that led us to this conclusion on Bitcoin’s future price. If you are interested in learning about BTC’s future and want to know its predicted value for 2024, 2025, and 2030, keep reading! #CryptoNews

Bitcoin Birthday: 15 years after Satoshi Nakamoto mined genesis block Bitcoin ATM Network Bitcoin ATMs were first conceived nearly five years after the first block was mined, with historical data confirming that the first ATM went live in October 2013. The motive was to provide another avenue for people to exchange their local fiat currencies for Bitcoin. While the Bitcoin ATM network saw staggered growth initially, thousands of Bitcoin and crypto ATMs were added yearly across the globe as mass Bitcoin adoption brewed. At its peak, nearly 40,000 Bitcoin ATMs were active on the network in 2021. #CryptoNews

Etherscan Acquires Solscan to Broaden Blockchain Data Access Etherscan, an Ethereum blockchain analytics and exploration tool, has announced its acquisition of Solscan, an equivalent Solana blockchain explorer. This strategic move marks Etherscan’s foray into offering diversified blockchain data services, extending its reach beyond the Ethereum network. Solscan, acclaimed for its user-friendly design and powerful analytics capabilities, caters to over three million monthly active users. The platform excels in offering in-depth analyses of the Solana network, encompassing transaction details, token tracking, and NFT metadata. Through this acquisition, Etherscan strengthens its dedication to delivering accessible and all-encompassing blockchain data across various networks. Matthew Tan, CEO of Etherscan, commends the Solscan team for their exceptional skill in rendering blockchain data transparent and user-friendly. This acquisition aligns with Etherscan’s objective of offering equitable and neutral access to blockchain information. The collaboration is poised to enrich the user experience on both platforms, integrating valuable features and streamlining navigation and data accessibility. #CryptoNews

US Lawmakers Seek to Fire SEC Chair Gary Gensler in 2024 Davidson introduced the SEC Stabilization Act earlier in June to fire Gensler as the chair of the securities regulator. He previously explained that the bill would “remove the role of chairman,” noting: “It would preserve the current commissioners but it would add a sixth commissioner so there would be no more than three from any one political party.” Congressman Emmer has also repeatedly criticized Gensler for his enforcement-centric approach to regulating the crypto industry. He wrote on X Thursday: “Gensler’s SEC sides with Wall Street, not Main Street. I’m proud to join Warren Davidson as a co-lead on his bill, the SEC Stabilization Act, so we can fire Gary Gensler.” Davidson is also against the Federal Reserve launching a digital dollar. In an X post on Tuesday, the lawmaker called for the ban of central bank digital currencies.

Bitcoin ETF Approval Tipped to Be 'Sell The News' Event: CryptoQuant Bitcoin [BTC] is expected to correct to as low as $32,000 next month following the potential approval of a spot ETF, according to data provider CryptoQuant. In what is being described as a potential "sell the news" event, CryptoQuant said in a note to CoinDesk that trader's unrealized profits are currently lingering at a level that historically precedes a correction. "Sell the news" is a well-known term in capital markets, it describes how asset prices, leverage and sentiment run up in the lead up to a bullish event only for prices to tumble shortly after. This is because astute traders capitalize on the over-crowded long trade, trapping those with leverage and forcing them to close or get liquidated as price goes against them. An ETF being approved is perceived as a bullish event as it will open up inflows to bitcoin from institutions, thus creating consistent buy pressure. #CryptoNews

India to Block URLs of 9 Offshore Exchanges Including Binance After Issuing Compliance 'Show Cause' Notices The Indian government has issued compliance show cause notices to nine offshore crypto exchanges under its Prevention of Money Laundering Act (PMLA), it announced on Thursday. The notices were issued by India's Financial Intelligence Unit (FIU) which falls under the nation's Finance Ministry. Binance, KuCoin, Huobi, Kraken, Gateio, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges. The government has also taken the first steps to block the URLs of "said entities that are operating illegally without complying with the provisions of the PMLA in India." The government didn't provide a specific timeframe or the consequences of not adhering to the notice as there are no crypto-specific precedents for such action in the country. The action appeared imminent after the government's written declaration from earlier this month that as many as 28 domestic crypto service providers registered themselves with the FIU. That number has already gone up to 31. #CryptoNews

DeFiance Capital exec departs to join blockchain project Chromia Arthur Cheong-led crypto investment firm DeFiance Capital is losing its head of portfolio growth, Yeou Jie Goh. Goh resigned from DeFiance last week and is set to join the blockchain project Chromia as its head of the Asia Pacific region next month, Goh told The Block. He worked for DeFiance for over two years. Cheong confirmed Goh's departure to The Block, saying that he is leaving "to pursue opportunities in the project building side, something he's interested in given his experience working with our portfolio companies." Chromia co-founder Or Perelman also confirmed Goh's appointment, saying that his "experience and industry acumen" will help position Chromia for "continued success" as it prepares for the mainnet launch next year. #CryptoNews

Hashdex drops new ad spot ahead of potential spot Bitcoin ETF approval In a Dec. 28 post on X (formerly Twitter), Hashdex released an ad spot showing an interview in which the subject criticized using home computers to do everyday tasks. The interview, purportedly taking place in the 1980s amid the rise in the adoption of the personal computer, showed a man dismissing the usefulness of the technology. In addition to Hashdex, asset managers with pending BTC exchange-traded product applications in the SEC have released similar ad spots — presumably to whet the public’s appetite ahead of potential approvals. Bitwise unveiled its own media campaign in December, onboarding actor Jonathan Goldsmith to revive his “Most Interesting Man in the World” character to promote Bitcoin. #Bitcoin

XRP Price Surge: ‘Dumb Money’ Will Miss Out, Analyst Cautions Analyst JD Draws Parallels To Past XRP Trends Despite the volatile nature of the crypto market, most cryptocurrencies are known to repeat or mirror past phenomena in their price action. As a result, it is very common for crypto analysts to look at the past and assess current trends when trying to predict the future movement of cryptocurrencies. The expert compared the present price pattern to 2017, which was the year that XRP finally broke its boring price action that lasted from 2013 to 2017. A look through this cycle shows XRP underperforming when compared to other cryptocurrencies. As a result, the ‘dumb money’ traders complained and bolted, causing them to miss the astounding gain that came after. However, XRP would then go on a 600x price gain after breaking out of the 4-year consolidation trendline. As a result, the crypto reached as high as $3.84 in January 2018, its current all-time high. #CryptoNews

@setam2 Tanner Bronchetti Survivor. Music, Books. Sacred choral music. Aspiring Catholic.

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@_Vinny_Monteiro Marty Twidwell that are designed to be traded and potentially generate profits for their holders. Each NFT