Tradition, one of the largest global transactional and market data platform in financial and commodity related products, has today announced the appointment of accomplished industry veteran, Michel Everaert, as its Global Head of E-Commerce and Digitalization.
The post Japanese Investment Firm Metaplanet Announces Purchase of Bitcoin Worth ¥1 Billion appeared first on Coinpedia Fintech News Metaplanet seems to follow MicroStrategy’s footsteps after deciding to make Bitcoin its saving choice. In a recent disclosure, Japanese company Metaplanet Inc. has announced its purchase of ¥1 billion ($6.25 million) worth of Bitcoin. This move comes as the company strategically diversifies its investment portfolio and enters the cryptocurrency space. Today, we're thrilled to announce a groundbreaking shift in our financial strategy, as we embrace Bitcoin as the core treasury asset of the Company going forward by committing an initial JPY 1 billion. This strategic pivot is not just about embracing digital assets but also about… pic.twitter.com/OASxj9IBPG— Metaplanet Inc. (@Metaplanet_JP) April 8, 2024 Metaplanet Acquired $6.5 Mln Worth of Bitcoin Metaplanet, a prominent investment and consulting firm listed on the Tokyo Stock Exchange, recently made waves in the financial world by announcing its acquisition of ¥1 billion ($6.5 million) worth of Bitcoin for its corporate treasury. Meanwhile, this substantial investment is equivalent to approximately 30% of the company’s current market cap. The purchase, revealed in a “Progress of Disclosure” notice dated April 8, 2024, indicates that Metaplanet has acquired 97.8519 bitcoins at an average price of ¥10,219,524 per bitcoin. This substantial investment represents approximately 30% of the company’s current market capitalization. Japanese public company Metaplanet has announced it purchased ¥1b ($6.25m) of $BTC, equivalent to ~30% of the company's current market cap. #Bitcoin pic.twitter.com/BLYC1BC1q4— Dylan LeClair (@DylanLeClair_) April 26, 2024 This strategic move signifies a significant shift in Metaplanet’s financial strategy, as the company embraces Bitcoin as its primary treasury asset. According to company representatives, this decision reflects not only a commitment to cryptocurrency but also a vision of pioneering innovation in finance. Further, the team highlighted that the transition to Bitcoin represents a key milestone for Metaplanet, positioning the company as a leader in Japan’s digital finance landscape and a pioneer in crypto adoption. Bitcoin As A Hedge With Bitcoin’s reputation as a store of value and hedge against inflation, more companies are exploring avenues to incorporate cryptocurrencies into their financial strategies. This move by Metaplanet also signals a vote of confidence in the long-term potential of Bitcoin and the broader cryptocurrency market. As digital assets continue to gain mainstream acceptance, such investments by established companies could further bolster confidence among investors and contribute to the maturation of the crypto industry. As of now, Bitcoin (BTC) is trading at approximately $64,370.81, reflecting a modest increase of about 0.6% over the past 24 hours. The cryptocurrency’s market capitalization stands at $1.27 trillion.
What is ethical risk? Ethical risk consists of the risks that could impede an organisation’s ability to live up to its ethical values and standards which impact consumer trust, reputation, and financial performance.
The post When to Expect Bitcoin’s Bull Market Highs: A Post-Halving Analysis appeared first on Coinpedia Fintech News In a recent analysis, Rekt Capital discussed the concept of the “danger zone” for Bitcoin, which typically occurs before the halving event. This period often sees historical retraces, as observed in previous cycles. For instance, in 2020 and the current cycle, Bitcoin experienced significant retraces before the halving. In 2016, there was a retracement of up to 29% to 40% leading up to the halving. The question now is whether the danger zone is over for Bitcoin in this cycle. Looking at historical data, in 2020, Bitcoin entered the danger zone about 14 days before the halving, resulting in a 19% retracement. In the current cycle, Bitcoin entered the danger zone approximately 30 days before the halving, prompting an 18% pullback in March and a subsequent 17% pullback in April. These pullbacks may be considered part of the same consolidation phase. Impact of the Danger Zone Historically, the danger zone tends to last around 28 days, leading up to the halving event. This period has consistently caused retracements in Bitcoin’s price. However, it’s essential to consider whether the danger zone might extend beyond the halving, as observed in previous cycles. In 2016, there was a post-halving retracement that lasted a few weeks. Currently, Bitcoin is experiencing retracements close to 20%, which aligns with historical trends. If Bitcoin can hold support levels in the next two weeks, it could signal the end of the danger zone. However, there’s a possibility of further downside, potentially leading to a v-shaped bottom similar to previous cycles. Exploring the Bitcoin Bull Market Cycle Rekt Capital also delved into the question: When will the Bitcoin bull market end, and how long will it last? If history were to repeat itself, projecting a bull market peak around 518 or 546 days after the halving event, we could anticipate it to land around mid-September or mid-October. This timeline aligns with the traditional understanding of Bitcoin’s market cycles based on halving events. However, another perspective to consider is the possibility of an accelerated cycle. This theory suggests that market cycles may be shortening due to increased adoption, institutional interest, and other factors. If this accelerated cycle hypothesis holds true, the bull market peak could arrive sooner than expected.
Senators Elizabeth Warren and Bill Cassidy are asking federal agencies about their technical capacity to combat crypto payments in the sale of child abuse material.
The post Bitcoin ETFs Under Stress, Options Data Project Tough Recovery appeared first on Coinpedia Fintech News With the entire crypto market facing another crossroads, the post-Bitcoin Halving days in 2024 are witnessing an increase in volatility. As the bearish sentiments are slowly taking over the market, the sudden spikes in some altcoins reflect an underlying bullish stand. As the general market anticipates Bitcoin price prediction of $100,000 in 2024, the 7D post-halving return shows minimal upside. This is because of the recent 3.52% setback on Wednesday, 24th April. With the crypto market standing at a crossroads, the buyers are struggling to take a bullish turn. Will the markets bounce back, or is a crash under $60,000 for Bitcoin inevitable? Let’s find out more in our market analysis report below. Bitcoin Price Performance Being the trendsetter in the crypto market, the biggest crypto, Bitcoin, sets the tone for the majority. With a market cap of $1.268 Trillion and a 9.44% drop in the last 30 days, the biggest crypto is on a downhill. Further, Since the start of the year, there has been notable panic selling on the Binance and OKX exchanges, where 5,137 bitcoins have been sold at a loss. This reflects investors’ quick reactions to sell off their holdings and a rise in FUD. Since the beginning of the year, panic sellers on the Binance and OKX exchanges have sold 5,137 BTC at a loss.Well done. pic.twitter.com/jUY1zjtS0A— Axel Adler Jr (@AxelAdlerJr) April 26, 2024 As the rising supply hits Bitcoin, the broader market enters a pullback phase, cooling down the much-anticipated jump on Bitcoin Halving Day. A similar impact is seen in the new market of Bitcoin ETFs. Analysis of Bitcoin ETFs With a total net outflow of $217 Million on April 25th, the Bitcoin ETFs have lost $337 Million in the last two days. Amidst the growing outflows, Blackrock’s IBIT ETF shows a second consecutive $0 inflow day. However, with the largest cumulative inflow since its inception of $15.48 billion, IBIT remains the biggest positive player. Sosovalue The Bitcoin ETFs market maintains a positive perspective despite the recent rise in outflow, with a cumulative total net inflow of $12.08 Billion. In conclusion, the recent hiccup seems nothing more than a healthy correction. However, repetitive behavior in the next week will be a bearish signal of a greater correction phase. Bitcoin Options Market Data On April 26, about 96,000 Bitcoin (BTC) options and 990,000 Ethereum (ETH) options are set to expire. BTC options show a Put Call Ratio of 0.68 and a Maxpain point at $61,000, carrying a notional value of $6.2 billion. April 26 Options Data96k BTC options are about to expire with a Put Call Ratio of 0.68, a Maxpain point of $61,000 and a notional value of $6.2 billion. 990k ETH options are about to expire with a Put Call Ratio of 0.51, a Maxpain point of $3,100 and a notional value of $3.1… pic.twitter.com/zgJ7ASR4Ll— Greeks.live (@GreeksLive) April 26, 2024 For ETH, the ratio is 0.51, with a Maxpain point of $3,100 and a notional value of $3.1 billion. Market volumes have decreased, with both Bitcoin and Ethereum experiencing low activity levels. The decline in implied volatility (IV) and recent ETF outflows suggest a subdued market sentiment, further dampened by a major investor’s ongoing concerns. This makes a BTC price recovery challenging. Conclusion Following the sharp recovery in early 2024 with the launch of spot ETFs, the volatility has also increased in the market. With the main catalysts of 2024 being ETFs, Bitcoin Halving and the highly anticipated rate cuts, the bulls are facing multiple roadblocks. The weakness in the global markets impacting Bitcoin Halving through the newly launched Spot ETFs, the $100,000 dream gets farther. A bearish spiral possibility is on the cards with a potential supply dump from Miners. However, a historic trend of massive recovery in the year and next of Bitcoin Halving, the buyers remain hopeful.
The post Will Ethereum (ETH) Price Plunge To $2.8K As Bearish Trend Intensifies? appeared first on Coinpedia Fintech News Following the worldwide market correction at the start of the month, the ETH price has been displaying a neutral trend in its chart, suggesting a constant decline in the price action for this altcoin in the market. The Ethereum token has recorded a correction of 14.28% over the past 30 days but has recorded a Year-to-Date (YTD) of 37.68%. Moreover, the pending approval of the spot Ethereum ETF could play a significant role in future price action which could result in either way. ETH Price On The Verge Of A Major Breakout: The altcoins leader, Ethereum price, continues to hover close to its important support level at $3,150, highlighting a weak price sentiment for it in the crypto market. Moreover, it has formed a symmetric triangle pattern in the 1D time frame. TradingView: ETH/USDT The Ethereum token is presently trading within the triangle close to its support trend line and is on the verge of testing its resistance zone, the outcome of which is unpredictable. Furthermore, the ETH price has added less than 1% within the past seven days, highlighting a switch of interest among investors toward other cryptocurrency tokens. Ethereum’s Market Sentiments: The Cross EMA 50-day acts as a resistance to the price chart in the 1D time frame, indicating uncertainty in price action for the leader of altcoins this week. On the other hand, the RSI shows a neutral trend, highlighting weak buying and selling pressure for the ETH price. Will ETH Price Hit $4,000 In Q2? If Ethereum successfully breaks out of the symmetric triangle pattern, it will test its resistance level of $3,697.25 by the coming week. Maintaining the price at that level will set the stage for the ETH token to attempt to test its upper resistance level of $4,000 during the upcoming month. Negatively, if a trend reversal occurs, the altcoin leader will break down its support trend line and fall toward its lower level of $2,800 in the coming time.
After the US Securities and Exchange Commission (SEC) approved Bitcoin exchange-traded funds (ETFs), the number of crypto fund products with significant carbon footprint grew dramatically. In light of this, Zumo, the B2B digital assets infrastructure prioritising compliance and sustainability, is joining forces with the Crypto Carbon Ratings Institute (CCRI), which provides data on the carbon exposure of investments and business activities related to blockchain, to help financial institutions better measure, mitigate, and report on the carbon footprint of their crypto activities. Research from Zumo and CCRI highlighted that as of March 2024, the annualised carbon footprint of all physically backed Bitcoin fund products stood at 4487.93 kilotonnes of carbon dioxide (ktCO2). To put this into context, this is equivalent to a person flying from London to New York and back over 1.5 million times. The environmental impact of blockchain also stands to get worse, with the London Stock Exchange (LSE) and the Hong Kong Securities and Futures Commission (SFC) now also accepting crypto fund products. Furthermore, the annualised carbon footprint of the US ETF cohort that went live in January 2024 following approval by the SEC was 2056.86 ktCO2, meaning it had captured 45.8 per cent of the market share and carbon footprint – for physically-backed Bitcoin funds within just a couple of months. CCRI will now provide the data and methodologies to enable Zumo to further develop its Oxygen solution. The first of its kind, Oxygen uses blockchain technology and strategically sourced market instruments, including renewable energy certificates (RECs), to enable financial institutions to measure, mitigate, and report on the carbon footprint of their digital asset activities. Embedding sustainability ‘at the heart’ of digital assets Nick Jones, co-founder and CEO of Zumo Nick Jones, founder and CEO of Zumo, commented: “As providers’ share of crypto holdings increases, so must their responsibility when it comes to ESG considerations. We’re proud to be partnering with CCRI, which is recognised as the gold standard for sustainability data in our sector. “Together, we can help responsible financial institutions embed sustainability at the heart of their digital asset propositions, in line with investors’ growing ESG awareness and new regulations, such as the EU’s Corporate Sustainability Reporting Directive (CSRD), which requires companies to report Scope 3 emissions.” Last year, Zumo helped Jacobi Asset Management deliver Europe’s first ESG-aligned Bitcoin spot ETF, listed on Euronext Amsterdam. Zumo will now work in partnership with CCRI to help more financial institutions address the carbon footprint of the new wave of Bitcoin ETFs and other financial instruments coming to the global market. Christian Stoll, co-founder of CCRI, also added: “Transparency and data are key to measuring and managing environmental impacts linked to financial products. Unfortunately, most funds are still not measuring or reporting on the carbon footprint of their crypto activities. We are happy that Zumo builds on our dataset and leverages our complementary capabilities to provide an end-to-end solution to help financial institutions understand and mitigate their crypto-related carbon exposure.” The post Zumo and CCRI Partner to Push Back Against Growing Crypto Carbon Footprint appeared first on The Fintech Times.