Bitcoin Price: US$51,288.42(-1.08%)
Ethereum Price: US$ 2,971.40 (+0.12%)
Valkyrie has expanded its exchange-traded fund (ETF) offerings by launching the Bitcoin Futures Leveraged Strategy ETF, trading under the ticker symbol BTFX on Nasdaq. This fund, described as a leveraged Bitcoin futures ETF, aims to deliver investment results twice the performance of the CME Bitcoin Futures market, following the asset manager’s previous listing of a spot BTC ETF in January. Concurrently, Marathon Digital Holdings unveiled “Slipstream,” a direct Bitcoin transaction submission service designed to facilitate large or complex Bitcoin transactions, leveraging the company’s scale, mining pool, and technological expertise. However, the crypto space also saw challenges as DeFi protocol Blueberry paused its lending operations due to an ongoing exploit, prompting efforts to limit potential damage and secure deposited funds. Despite previous security measures and audits, the protocol faced scrutiny following the incident, underscoring the importance of robust security protocols in the DeFi ecosystem.
Block, led by Jack Dorsey, reported a substantial increase in gross profit from selling Bitcoin through Cash App, marking a 90% rise from the previous year, with Bitcoin revenue reaching $2.5 billion in Q4 and $9.5 billion for the full year. Cash App aims to expand its banking services and has seen significant growth in Bitcoin-related transactions, benefiting from the surge in the average market price of BTC and Block’s BTC inventory appreciation. Meanwhile, a new crypto scam on Telegram targeted users, draining wallets without transaction approval, particularly exploiting tokens complying with the ERC-2612 standard, highlighting the importance of vigilance in the DeFi space. Additionally, former US President Donald Trump’s stance on Bitcoin has shifted, acknowledging its growing popularity and stating he can “live with it” amidst his campaigning for the 2024 presidential election, suggesting a potential political strategy to appeal to the crypto industry and tech-savvy voters.
Avalanche encountered a technical disruption affecting block production on its proof-of-stake (PoS) blockchain, prompting investigations into a stall in block finalisation that halted network acceptance of new blocks across primary subnets. The interruption, potentially linked to the launch of a “new inscription wave,” spurred concerns but was later attributed to a code-related bug rather than performance issues, underscoring the critical role of stable block production for blockchain functionality. Meanwhile, EigenLayer partnered with Ritual to integrate Ethereum-level restaking security into Ritual’s AI-powered decentralised applications (DApps), aiming to unlock new AI-enabled functionalities and address concerns regarding buggy smart contracts. This collaboration reflects the growing interest in AI crypto solutions, exemplified by Nvidia’s revenue surge and subsequent market capitalisation rise of AI tokens, as evidenced by UNI’s governance proposal for fee-sharing and protocol governance upgrades, fueling a significant price surge and trading volume spike for the Uniswap decentralised exchange governance token.
Source: https://cointelegraph.com
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