Ark Invest’s Selloff Chronicle
Cathie Wood’s asset management firm, Ark Invest, caused speculation in the crypto market this week with significant selloffs. Reports suggest that the firm sold a large number of Coinbase shares as prices reached a 52-week high. Additionally, on December 28, Ark Invest liquidated holdings of various shares including AMD, Cloudflare, and Shopify. On December 30, they sold even more COIN shares in anticipation of the potential approval of a Bitcoin ETF by the SEC.
Binance’s Listing Saga
Binance, a leading cryptocurrency exchange, made several announcements this week regarding new margin trading pairs and token surges. They revealed plans to add margin trading pairs for ADA, DOGE, LINK, and MATIC in FDUSD pairs. Binance’s native token, BNB, saw significant gains following the integration of Sleepless AI. Additionally, Binance launched USDC-margined perpetual contracts on Binance Futures for major cryptocurrencies.
Bitcoin Stirs Speculations
Bitcoin experienced notable inflows this week as anticipation for spot Bitcoin ETF approval grew. BTC saw an inflow of $87.6 million and a small Short-bitcoin inflow of $0.4 million. Eight Bitcoin ETF issuers, including Grayscale, submitted updated S-1 forms before the SEC’s deadline to disclose changes like authorized participants and fees.
Terra Community’s Voting Endeavor
The Terra community generated speculation this week with significant developments. The Terra Luna Classic community rejected a proposal to burn 800 million USTC due to disagreements among members and validators about the potential impact. The community also engaged in another voting process regarding an 8 million USTC community pool burn proposal.
Hot Take: Crypto Headlines Of The Week
This week witnessed significant events in the crypto market, with Ark Invest’s selloffs, Binance’s listing announcements, Bitcoin’s inflows, and the Terra community’s voting endeavors capturing attention. These developments highlight the ongoing volatility and excitement surrounding cryptocurrencies. As the market continues to evolve and regulatory decisions loom, it is essential for crypto enthusiasts like you to stay informed and adapt to these changing dynamics. Keep a close eye on these key players and trends as they shape the future of the crypto landscape.
By
By
By
By
By