Latest Bitcoin News and Insights | Yellow.com

Donald Trump is entering the cryptocurrency world by launching World Liberty Financial’s (WLF) native token to raise $300 million. With the sale of WLFI tokens starting on October 15, we have entered a world of digital finance and politics. The $1.5 billion valued project will be open be opened to qualified investors through a whitelist. This comes at a critical juncture in the US presidential election where cryptocurrency has turned into a major policy issue. With Trump’s entry into the DeFi scene, there will be an increased acceptance of blockchain in high-profile persons. WLF's recent proposal to the Aave governance forum seeks to establish an instance on the network, potentially providing liquidity for digital assets including Ethereum (ETH), wrapped Bitcoin (WBTC), and various stablecoins. In exchange of this, AaveDAO would get access to a 7% supply of WLFI tokens and 20% of all the DeFi protocol fees which is in line with DeFi integration trends. As of October 2024, the total value locked (TVL) in DeFi protocols stands at $81.85 billion, as per statistics from DeFi TVL aggregator DeFi Llama. This comes at a time when Donald Trump has promised the crypto community that he would take measures like establishing a Bitcoin advisory council and firing SEC Chair Gary Gensler. These promises were made when the cryptocurrency industry was facing increased scrutiny from the SEC as seen 46 crypto-related enforcement actions in the 2024 fiscal year. The WLFI tokens sale launched by Trump marks a shift in his cryptocurrency stance as he had tweeted in 2019 that he isn’t a “fan of Bitcoin and other cryptocurrencies”. Now as more Americans are investing in crypto, 16% as of September 2024, up from 11% in the same period in 2021, the political landscape is favouring cryptocurrency. However, critics have raised concerns about the lack of substantive information provided during the initial announcement of the WLFI tokens sale, resulting in listener numbers dropping from 150,000 to 47,000 during a live X Spaces event. Additionally, questions remain about how the project will navigate complex regulatory waters, especially given the ongoing debate over cryptocurrency classification as securities. The WLFI token sale's impact on the broader crypto market remains to be seen as the project enters a crowded field of over 12,000 active cryptocurrencies. The success of WLFI will likely depend on its ability to differentiate itself and deliver on its promises in a highly competitive and rapidly evolving landscape.

Unprecedented levels of stablecoin market capitalization have been added to the Bitcoin ecosystem, thus providing more liquidity. Historically connected with price rises, this trend could indicate a positive future for Bitcoin and the whole crypto market. According to recent CryptoQuant statistics, some USD-backed stablecoins today have a total market capitalization of $169 billion. Equivalent to $40 billion in increase, this number shows a significant 31% rise since the beginning of 2024. As seen by stablecoin value, the surge has pushed crypto market liquidity to record highs in late September. Especially in Tether (USDT), centralised exchanges have seen a notable rise in stablecoin balances. Right now, USDT rules the stablecoin scene. The main force behind this development pattern has been With an all-time high of 22.7 billion this month, Total USDT (ERC20) balances on centralized exchanges mark a 54% increase, or $8 billion, year-to-date. About $8.5 billion USDT issued on the Tron network is currently kept on centralized exchanges, according to CryptoQuant. "Larger balances of stablecoins on exchanges are positively correlated with higher Bitcoin and crypto prices," said the market analytics platform. Starting in January 2023, the present bull cycle has seen centralized exchange USDT (ERC20) balances rise by 146%. Over this period, their value has risen from $9.2 billion to $22.7 billion. With its closest rival USD Coin (USDC) holding a 21% share, USDT's market share has reached 71%. Having risen by thirty% or $28 billion since the start of 2024, USDT's market capitalization is almost $120 billion. With its market capitalization of $36 billion—a 44% or $11 billion rise year-to-date—USDC has also seen notable growth. According to CryptoQuant, almost all the net stablecoin rise noted this year comes from USDT and USDC. Though at a slower rate than previous in the year, both assets show monthly increases. Accelerated development in the monthly market caps of these assets, according to analysts, could indicate a fresh surge in Bitcoin and crypto prices. Given that the top cryptocurrency has been showing a relative price stability, this is especially interesting. New players are starting to show up in the stablecoin space even as USDT and USDC remain leaders. Developer of the XRP Ledger, Ripple Labs, recently debuted a USD-backed stablecoin called RLUSD. RLUSD reached a market capitalization of $47 million already since its late September introduction. Analyzes think this asset has great growth possibilities. The rising liquidity brought about by stablecoin expansion could have broad effects on the Bitcoin market. Market players will be closely observing these changes in the next months as historical data points to a link between more liquidity and rising prices.

Over the weekend, crypto users discovered that crypto price charts for Bitcoin and Ethereum have vanished from Google Search as the tech giant changed its approach to digital assets. Google users who searched for “Ethereum price” or “Bitcoin price” could no longer see the usually displayed crypto charts, which have been part of the search results since 2018. While this deindexing measure affected all major cryptocurrencies, Dogecoin seems to have evaded it as its price chart is still displayed when searched by its ticker "DOGE." Although the changes have been observed for several days now, there hasn’t been any official statement released by Google regarding the matter. However, Google Search results are still displaying stock and index graphs, which has led to speculations about Google’s intentions. While some crypto industry observers have labelled it as a “temporary glitch," others think this is indicative of a shift in the tech giant’s stance towards crypto assets. People are questioning the timing of this move as it comes in the backdrop of dip in Bitcoin-related search queries. As per Google Trends, there is a decrease in Bitcoin search volume globally as it hits the lowest this week (October 13-19), showing only 27% of the search volume peak recorded in March. However, it’s not just Bitcoin; Ethereum is also experiencing a downward trend in its search volume, which was only 19% of its March peak. All this suggests a possible cooling in public interest regarding cryptocurrencies, which has influenced Google’s decision not to display crypto price charts. This isn’t the first time such crypto-related changes have occurred on Google. Earlier in March, the tech giant updated the service policy for its financial products, which allowed crypto trusts and exchange-traded products to be advertised in the US. But that was a pro-cryptocurrency positive move compared to this negative approach, which is puzzling analysts and traders. With the disappearance of crypto price charts from Google, investors have lost a potential tool to check cryptocurrency prices on the go. The move helped non-serious crypto traders get a hang of the market and make investment decisions without visiting crypto platforms. Ultimately, this will have significant market implications as cryptocurrency visibility decreases amongst general internet users. As digital assets find acceptance everywhere, the tech policy of online platforms like Google has to change to facilitate the crypto industry as they have an impact on cryptocurrency information and public perception. However, it should be noted that crypto price charts are still available on other Google forums like Google Finance and other crypto-specific apps and websites. While Ethereum search interest is high in Saint Helena, Switzerland, and Slovenia, Bitcoin-related queries mostly appear in El Salvador and Nigeria.

The 2020-established blockchain data analysing company Arkham Intelligence Inc. is all set to change the landscape of cryptocurrency trading with the launch of a new crypto derivatives exchange next month. The Sam Altman and Binance Labs-backed crypto startup is moving its base to Punta Cana in the Dominican Republic from New York and London. The crypto startup is moving beyond usual blockchain analysis with the launch of this crypto derivatives exchange. As the company seeks to establish a trading platform, it is leveraging the free trade zone benefits of the Dominican Republic including the tax exemptions. The news has already taken the crypto market by storm, resulting in a 19% surge of Arkham’s native token ARKM to reach $1.52, ultimately causing a market capitalisation of $344 million. At present, the crypto startup runs a platform that analyzes blockchain data and provides insights on entities involved in crypto activities. Arkham Intelligence has made a timely move to enter the crypto derivatives space as the industry leader Binance, one of its investors, is facing regulatory challenges while FTX has collapsed. Crypto Assets Data and Index provider CCData revealed that crypto derivatives trading on centralized exchanges were at a $3.07 trillion valuation in September, which is 71% of the total crypto volume. This underlines the market potential of crypto derivatives as Arkham starts a new one. The OpenAI founder-backed crypto startup will be in direct competition with major market players like Binance by targeting retail investors. However, in line with the cautionary approach of other crypto firms, Arkham’s crypto derivatives exchange won’t be open to US investors as it wants to avoid the regulatory uncertainties of the US market. In recent times, many exchanges like OKX and Bybit have limited their services in certain countries, like the US. The company is banking on its 880,000-strong user base on its blockchain data platform to launch the new crypto exchange, as it is in talks with Middle Eastern investors to raise $100 million. Earlier, Arkham had also forged strategic partnerships with the Turkish football team Galatasaray for two seasons to boost its brand visibility. The $2 million per season sponsorship deal hugely boosted Arkham’s brand value. The news of Arkham’s crypto derivatives exchange comes at a time when the crypto industry is looking towards innovation and potential growth as there is growing interest in crypto-based financial products. This is further aided by the impending Bitcoin halving in April 2025. New trading venues like the one planned by the crypto startup Arkham could enhance the market efficiency and liquidity as institutional investors and retail investors stand to benefit from it. The company's success will lie in its ability to differentiate itself from existing competitors like Binance by using its huge pool of blockchain analytics expertise to provide unique insights to crypto traders.

Bitcoin's largest investors, known as "whales," have accumulated approximately $90 billion worth of the cryptocurrency since May. This significant inflow occurs against a backdrop of range-bound market conditions and may be qualified as a clearly bullish sign, experts say. Axel Adler Jr., an analyst at CryptoQuant, revealed that investors holding over 1,000 BTC have rapidly increased their balances. Over the past six months, these whales have amassed about 1.5 million BTC. This represents a substantial capital inflow, valued at approximately $90 billion at an average price of $60,000. The accumulation comes at the expense of smaller investors - many sold at a loss during this period. Data indicates a marked growth among whale holdings. In early May, when Bitcoin traded between $60,000 and $65,000, whales held only 335,000 BTC. Despite price stagnation, they continued to accumulate. Whales now hold around 1.9 million BTC. This trend suggests strong short-term confidence among high-net-worth investors. Recent market movements have not deterred accumulation. Yesterday, Bitcoin fell below $59,000 for the first time this month, triggering significant liquidations. However, large holders, representing 0.1% of the circulating supply, netted an additional 629 BTC. Two days prior, this figure was even higher, with an influx of 2,480 BTC. CryptoQuant data shows a decline in Bitcoin's exchange reserve. It fell from 2.576 million tokens at the start of October to 2.571 million, and this further reflects ongoing accumulation. At the time of writing, Bitcoin traded at $64,200. Technical indicators present a mixed picture. The DMI shows declining selling pressure, while the Williams %R indicates a neutral stance at -40.74. Analyst Peter Brandt predicts Bitcoin could reach $150,000 this cycle. However, he warns that failure to break out of the current range could lead to a severe price drop, potentially up to 75%, so the market remains poised between accumulation and uncertainty.