{ }
Bitcoin's price has surged to $97,596, with technical indicators suggesting potential for further upside volatility following a recent all-time high above $108,000. Analysts predict ambitious price targets for 2025, with estimates ranging from $132,500 to as high as $800,000, driven by increasing interest in Bitcoin as a hedge against risks similar to gold.
BlackRock has made history by acquiring municipal debt through a transaction fully utilizing blockchain technology, marking the first instance of municipal bonds being purchased, settled, and held on a blockchain platform. The $6.5 million deal involved bonds issued by Quincy, Massachusetts, and was facilitated via JPMorgan's private blockchain application. This innovative approach enhances transparency and security in municipal finance, reflecting BlackRock's commitment to transforming capital markets. In the cryptocurrency space, BlackRock's iShares Bitcoin Trust is nearing $60 billion in assets under management, significantly outperforming its gold ETF, which took 20 years to reach $33 billion. Despite recent volatility in Bitcoin's price, BlackRock capitalized on the dip, purchasing $1 billion worth of Bitcoin.
Allo, a Dubai-based tokenization platform, has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage. The company has previously raised $750,000 through Binance Labs and nearly $2 million in seed funding, facilitating over $2.2 billion in tokenized assets on the BNB Chain. With the tokenization market projected to reach nearly $2 trillion by 2030, Allo's innovations are part of a growing trend that allows real-world assets to be digitized for easier investment.
BlackRock's iShares Bitcoin Trust (IBIT) has achieved remarkable growth, reaching $58.57 billion in assets under management (AUM) in less than a year, nearly doubling the $33 billion AUM of its gold ETF, which took 20 years to accumulate. IBIT became the fastest ETF to hit $50 billion in AUM, accomplishing this in just 228 days, significantly outpacing the previous record holder. The surge in AUM is largely attributed to the rising price of Bitcoin, which recently surpassed $100,000.
BlackRock's ETF has made a historic purchase of the first municipal bond issued via blockchain, acquired from Franklin Township, Ohio, utilizing the Provenance Blockchain platform. This initiative highlights blockchain's potential to enhance efficiency, transparency, and reduce costs in bond issuance, aligning with BlackRock's vision for digital finance. The bond will fund significant infrastructure projects, showcasing the asset manager's commitment to integrating traditional finance with emerging technologies.
The Dow Jones Industrial Average rebounded by 1.1% following stronger-than-expected GDP growth of 3.1% and a drop in jobless claims to 220,000. However, Micron Technology's stock plummeted over 16% due to a disappointing outlook, while Nvidia attempted a recovery after a five-session decline. Other notable market movements included Darden Restaurants surging 14% and Lennar falling 4%.
BlackRock's recent video has reignited discussions about Bitcoin's fixed supply, questioning whether its 21 million cap could be altered. While some argue that changing the cap could undermine Bitcoin's credibility, others suggest it might benefit liquidity. Achieving such a change would require a hard fork and significant consensus within the decentralized network, a challenging prospect given the historical resistance to altering Bitcoin's core principles.
Ethereum's price fell to $3,540, a 10% drop, following a hawkish Federal Reserve announcement, while Ethereum ETFs saw inflows surpassing $2.46 billion over 18 days. Despite the decline, over 54.7 million ETH are staked, indicating strong long-term investor sentiment. The total value locked in Ethereum's DeFi ecosystem exceeds $73.7 billion, significantly outpacing competitors.
Ethereum's price has surged to approximately $3,936.26, fueled by institutional interest following the approval of Ether-focused ETFs and a supportive political climate in the U.S. Experts predict it could reach $12,000 in the next bull run, bolstered by its transition to proof-of-stake and strong market fundamentals.Meanwhile, PlutoChain ($PLUTO) emerges as a promising Layer-2 solution, enhancing Bitcoin's capabilities with faster block times and Ethereum Virtual Machine compatibility, potentially redefining Bitcoin's role in decentralized finance.
BlackRock's iShares Ethereum Trust (ETHA) has seen a remarkable $3.446 billion in inflows, outperforming competitors like Fidelity, which has $1.386 billion. This surge comes amid rising expectations for Ethereum, despite a recent price drop to $3,672.86, attributed to external market factors. Analysts project a potential recovery for Ethereum, driven by strong fundamentals and sustained corporate interest in the ETF market.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.