Crypto Buzz: Meme Coins Rise, Bitcoin Eyes $74,000, and BlackRock Enters the Ring pen_spark
Crypto Buzz: Meme Coins Rise, Bitcoin Eyes $74,000, and BlackRock Enters the Ring
The crypto world is buzzing today with a mix of familiar trends and new developments. Here's a roundup of the hottest headlines:
Meme Coin Mania: Retail investor favorite Dogecoin (DOGE) is leading the charge, along with fellow dog-themed tokens Floki Inu (FLOKI) and Dogwifhat (DOG) following a surge in GameStop stock. The return of the Reddit user "DeepFu*kingValue" to the platform is seen as a potential catalyst https://www.coindesk.com/tag/gamestop/.
Bitcoin Price Watch: Despite some analysts warning of a pullback due to upcoming U.S. inflation data, Bitcoin (BTC) continues to hover around the $68,000-$70,000 range. Some even predict a price surge towards its previous high of $74,000 https://www.investing.com/crypto/bitcoin.
BlackRock Joins the Race: The world's largest asset manager, BlackRock, has amended its application for an Ethereum (ETH) ETF, raising hopes for its launch by June according to Bloomberg analyst Mike Balchunas https://www.coindesk.com/markets/2023/11/10/first-mover-americas-ether-surges-on-blackrocks-etf-plans/. This could be a significant step towards wider institutional adoption of cryptocurrencies.
CME Takes Aim at Crypto Giants: The Chicago Mercantile Exchange (CME) is reportedly considering launching spot Bitcoin trading, potentially posing a challenge to cryptocurrency exchanges like Binance and Coinbase https://www.coindesk.com/video/cme-bitcoin-futures-open-interest-surge-indicates-interim-btc-price-top/.
Regulation in Focus: The U.S. Senate is being urged to pass a landmark crypto bill after President Biden vetoed a resolution aimed at overturning SEC regulations https://bitcoinmagazine.com/business/president-joe-biden-will-veto-legislation-allowing-financial-firms-to-custody-bitcoin-white-house.
Rune on the Rise: The THORChain network's native token, Rune (RUNE), saw a significant increase in both trading volume and market value, highlighting growing interest in decentralized finance (DeFi) solutions https://www.binance.com/en/price/thorchain.
Global X ETF Fee Cut: Investors looking to get involved in crypto through traditional markets can rejoice! Global X ETFs has slashed fees to zero for two of its physically-backed cryptocurrency ETPs until January 2025 https://www.binance.com/en/price/bitcoin-etf-token.
This is just a snapshot of the ever-evolving crypto landscape. Stay tuned for further updates as the market continues to unfold!