BlackRock’s Application for Bitcoin ETF
The BlackRock, the asset manager giant, is revising its proposal for a spot Bitcoin ETF. The new application introduces a redemption model that allows central banks to convert cash into Bitcoin, bypassing the need to hold cryptocurrencies on their balance sheets. The new redemption model, called “prepay,” enables authorized participants to circumvent constraints that prevent them from directly holding Bitcoin. Coinbase Custody will serve as the ETF’s designated custody provider.
Global Crypto Market Update
The global cryptocurrency market cap has decreased by 2.20% to $1.55 trillion over the last day, with a total crypto market volume of $69.02 billion, a 13.42% decline. The decentralized finance sector accounts for $7.61 billion, representing 11.03% of the total crypto market’s 24-hour volume. Stablecoins are at $61.73 billion, comprising 89.45% of the entire crypto market’s 24-hour volume. Bitcoin’s dominance is currently at 52.11%, slightly increased by 0.18% over the last 24 hours.
Top-Trending Cryptocurrencies on DEXTools
GROK and GHOSTDAG are currently two of the top-trending cryptocurrencies on DEXTools. GROK is a meme-based token that has generated substantial profits for traders, while GHOSTDAG has made significant investments to enhance its mining facility.
Bitcoin Minetrix and Meme Kombat
Bitcoin Minetrix has been audited by Coinsult and is offering cloud mining services with a native token available for presale. Meme Kombat, an Ethereum-based game, is set to launch on exchanges and has an upcoming discounted presale of MK tokens before its Uniswap launch in January of 2024.
Closing Thoughts
The global cryptocurrency market remains dynamic and continues to offer potential for substantial financial gains. Keep an eye on emerging trends and new developments to navigate the market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
