{"id":562,"date":"2024-02-24T11:00:25","date_gmt":"2024-02-24T11:00:25","guid":{"rendered":"https:\/\/wagecan.com\/blog\/?p=562"},"modified":"2024-02-24T07:17:45","modified_gmt":"2024-02-24T07:17:45","slug":"biweekly-headlines-2024-feb-w3-w4","status":"publish","type":"post","link":"https:\/\/wagecan.com\/blog\/2024\/02\/24\/biweekly-headlines-2024-feb-w3-w4\/","title":{"rendered":"Biweekly Headlines 2024 Feb W3 \u2013 W4"},"content":{"rendered":"\n

\u201cNothing punishes providing value like a Fiat economy.\u201d  <\/em><\/strong>– Jimmy Song<\/em><\/p>\n\n\n\n

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Biweekly News Roundup                          <\/strong><\/p>\n\n\n\n

1. Cryptocurrency Price Movements and Records<\/strong><\/p>\n\n\n\n

\u25cf BTC’s price fluctuations and recent surge: BTC once jumped 35% to over $53,000 since Jan. 23 but recently traded back and forth between $50,500 and $52,500.<\/p>\n\n\n\n

\u25cf Layer-1 blockchain Sui overtaking others in terms of TVL: Layer-1 blockchain Sui has experienced a sharp increase in inflows this month, a spike that has seen it overtake Cardano, Near and Aptos in terms of TVL.<\/p>\n\n\n\n

\u25cf BNB’s climb in price post-FTX crash: BNB climbed over $380 for the first time since Nov. 2022, the highest since FTX crash amid airdrop frenzy.<\/p>\n\n\n\n

\u25cf UNI’s jump due to governance overhaul: UNI jumps 60% on proposal to reward token holders in major governance overhaul.<\/p>\n\n\n\n

\u25cf STRK, AI-related tokens, AGIX, FIL, GRT, and WLD price movements: STRK claimed to hit 420M in a day as on-chain metrics soar. AI-related tokens surged after chipmaker Nvidia beat its already lofty fourth-quarter earnings expectations. AGIX surged 97% and FIL and GRT rallied more than 40% over the past seven days. WLD gained over 150% to new ATH on OpenAI\u2019s Sora launch.<\/p>\n\n\n\n

\u25cf Overall market cap of AI tokens: The overall market cap of AI tokens has surpassed $17B.<\/p>\n\n\n\n

2. Bitcoin-Specific Developments<\/strong><\/p>\n\n\n\n

\u25cf BTC’s historical rally trends and predictions for the future: Bitcoin tends to rally over 30% in eight weeks leading up to the reward halving. It seems that prices may revisit and potentially surpass the record high of $69,000 before Bitcoin Blockchain’s fourth mining reward halving due on April 19. <\/strong><\/p>\n\n\n\n

\u25cf Fidelity\u2019s prediction on BTC\u2019s market capitalization: Fidelity\u2019s Director of Global Macro made a bold prediction regarding BTC\u2019s market capitalization, suggesting it could potentially hit $6 trillion, equivalent to a quarter of the \u201cmonetary gold\u201d market.<\/strong><\/p>\n\n\n\n

\u25cf MicroStrategy’s BTC holdings and profits: When bitcoin’s price rose to just shy of $53K, MicroStrategy has seen its holdings climb above $10B, amassing a profit of more than $4B.<\/p>\n\n\n\n

\u25cf Coinbase\u2019s financial performance: Coinbase\u2019s net income of $273M marks the firm\u2019s first profitable quarter since Q4 2021.<\/p>\n\n\n\n

3. Exchange-Traded Funds (ETFs) and Investment Trends<\/strong><\/p>\n\n\n\n

\u25cf Approval and impact of spot bitcoin ETFs: The approval of the spot bitcoin ETFs constituted a landmark event for the $1.7T digital asset industry. Leading gold ETFs have seen outflows of $2.39B so far in 2024 as Bitcoin ETFs hit record volumes.<\/strong><\/p>\n\n\n\n

\u25cf U.S. exchange share in global market and ETF performance: The share of the U.S.-based exchanges in the global 2% market depth has increased to 48% from 14.3% since spot ETF expectations gripped the market in October.<\/p>\n\n\n\n

\u25cf Crypto ETF inflows, with a focus on bitcoin and ether: Overall, a record $2.5B flowed into crypto exchange-traded products last week, with bitcoin funds responsible for 99% of all the inflows, with ether ETH products experiencing the second-largest inflow of $21M.<\/p>\n\n\n\n

\u25cf Predictions for ether ETF approval and ETH price movements: Bernstein says there is about a 50% chance of ether spot ETF approval by May and near-certain probability of approval in the next 12 months. Ether hits $3K for the first time in nearly 2 years amid rising ETH ETF excitement. ETH may have found a path to a record high of $5,200 after breaking out an \u201cascending triangle\u201d price pattern, according to technical analysis by Kraken OTC.<\/p>\n\n\n\n

4. Government and Regulatory Developments<\/strong><\/p>\n\n\n\n

\u25cf Japan’s bill on crypto assets for investment funds: Japan’s cabinet approved a bill that adds crypto to the list of assets the nation’s investment funds and venture capital firms can acquire.<\/p>\n\n\n\n

\u25cf German Bundestag’s Bitcoin event and pro-Bitcoin bill, aiming to make BTC legal tender in the country<\/strong><\/p>\n\n\n\n

\u25cf Virginia\u2019s establishment of a Blockchain and Cryptocurrency Commission, proposing an annual budget of $17,192 for it<\/p>\n\n\n\n

\u25cf Swiss PostFinance’s crypto custody services on February 21<\/p>\n\n\n\n

5. Adoption and Integration in Various Sectors<\/strong><\/p>\n\n\n\n

\u25cf Trump\u2019s growing acceptance of Bitcoin<\/p>\n\n\n\n

\u25cf Paris Saint-Germain’s blockchain involvement<\/p>\n\n\n\n

Feb. 24, 2024<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cNothing punishes providing value like a Fiat economy.\u201d  – Jimmy Song Biweekly News Roundup                           1. Cryptocurrency Price Movements and Records \u25cf BTC’s price fluctuations and recent surge: BTC once jumped 35% to over $53,000 since Jan. 23 but recently traded back and forth between $50,500 and $52,500. \u25cf Layer-1 blockchain Sui overtaking others in terms […]<\/p>\n","protected":false},"author":3,"featured_media":563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[184,8,105,43,179,188,189,187,155],"_links":{"self":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/562"}],"collection":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/comments?post=562"}],"version-history":[{"count":2,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/562\/revisions"}],"predecessor-version":[{"id":566,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/562\/revisions\/566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media\/563"}],"wp:attachment":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media?parent=562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/categories?post=562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/tags?post=562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}