DeFi News Daily Official TheBitTimes.com

Binance, the world’s largest cryptocurrency exchange by trading volume, is a central part of the wider digital asset ecosystem. As such, it is often in the crosshairs of cybercriminals — ranging from the lowliest of script kiddies to state-sponsored and sanctioned outfits like the notorious Lazarus Group. Being in the spotlight does have its disadvantages — particularly amidst the growing mainstream appeal and adoption of cryptocurrencies. However, Binance seems to be holding its own rather well — per a recent annual report, the platform’s security efforts have managed to prevent roughly $4.2 billion in losses for some 2.8 million users in 2024 alone. The 24-page report covers a wide variety of topics pertaining to the exchange and the wider industry, but security was obviously a priority. Finbold has reviewed the report shared with it by the exchange to bring readers a digestible, summarized view of the most important points and developments. ...

Bitwise stated that this move will enable investors to access CME Ether futures within the widely embraced and regulated ETF framework. Bitwise Asset Management has revised its spot Bitcoin Exchange-Traded Fund (ETF) application and has confirmed that trading for two Ethereum-focused ETFs will commence on October 2, 2023. This decision comes after having amended its application for the spot Bitcoin ETF. The firm has revealed that trading is scheduled to commence for the Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP). Bitwise stated that this move will enable investors to access CME Ether futures within the widely embraced and regulated ETF framework, marking a significant milestone. According to the firm's Chief Investment Officer, Matt Hougan, in a statement, he remarked, "Ethereum offers a more extensive portfolio opportunity compared to Bitcoin. Some investors view Ethereum as an alternative, while others perceive ...

Bitcoin and several major altcoins continue to show weakness, but a few data points do favor bulls in the short-term. Bitcoin (BTC) has been trading between $25,333 and $26,156 since Sep. 1. Typically, a volatility squeeze is followed by an expansion in volatility but it is difficult to predict the direction of the breakout with certainty.  CoinGlass data shows that Bitcoin has fallen for six consecutive years in September. This historic data could keep the bulls at bay in the near term and embolden the bears. Additionally, the United States dollar index (DXY) which has an inverse correlation with Bitcoin has risen sharply in the past few weeks. Both these suggest that Bitcoin could remain under pressure in the short term. Daily cryptocurrency market performance. Source: Coin360 It is not all gloom and doom for the crypto bulls because lower levels are likely to attract buyers. The prospect of one or more Bitcoin spot exchange-traded fund applications receiving approvals may limit the...

Bitcoin and most major altcoins are reeling under intense selling and charts suggest that the market sell-off is not complete. A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the confusion arising from the alleged write-down of SpaceX’s $373 million Bitcoin holdings may have been one of the potential triggers. Daily cryptocurrency market performance. Source: Coin360 Whatever the reason, the decline has started. The next major question troubling investors is how low could Bitcoin fall. Several analysts have turned bearish and expect Bitcoin to continue its downtrend in the near term. Will Bitcoin continue to drop, dragging the rest of the cryptocurrency markets with it? What are the important support levels to...

Markets continue to slump, giving advantage to the bears and hinting at a trend change to the downside. Bitcoin (BTC) continues to trade inside a narrow range with no clear signs of a breakout from it. Trading platform QCP Capital said in their latest market update that Bitcoin may remain quiet for a few more weeks before making its move in September.  Delphi Digital co-founder Kevin Kelly believes that the cryptocurrency markets are in the early stages of a new bull cycle. Based on a study of Bitcoin’s four-year cycle patterns, Kelly expects Bitcoin to hit a new all-time high by Q4 2024 and a new cycle peak by Q4 2025. Daily cryptocurrency market performance. Source: Coin360 Similarly, Bitcoin investor and author Jesse Myers also maintains a bullish view for the long term but he does not expect Bitcoin to reach $100,000 before the next halving. Myers believes that the market will take 12-18 months after halving to price-in the effects. Will Bitcoin and the major altcoins remain range...

Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects. A bearish technical formation has driven down the total crypto market capitalization over the past seven weeks. Bitcoin’s (BTC) 2% decline — and a 1.7% and 2.5% decline from BNB (BNB) and XRP (XRP), respectively — were the main drivers of the most recent 1.3% correction between May 18 and May 25. Total crypto market cap in dollars, 12-hour. Source: TradingView The descending wedge formation initiated in April indicates a possible breakout near $1 trillion by late July. For bulls, the bearish structure that drove the total capitalization to $1.11 trillion on May 25 means that an eventual break to the upside would require extra effort. Bitcoin and Ether falter due to weak macroeconomic data Sticky inflation continues to worry investors, who price in higher odds of further interest rate increases by the United States Federal Reserve. The country’s latest personal consumption e...

With the fall of P2P exchanges like Paxful and LocalBitcoins, the question of how to buy or sell crypto without using CEXs is a pertinent one. The failure of FTX triggered a notable growth of self-custody in 2022, with numerous cryptocurrency investors transitioning from centralized exchanges (CEX) to hardware or software wallets. The rising popularity of self-custody could even potentially erase the need for centralized exchanges one day, according to Binance CEO Changpeng Zhao. But how would people buy or sell cryptocurrencies without centralized exchanges? The crypto industry already offers ways to exchange cryptocurrencies like Bitcoin (BTC) for fiat money without using a CEX like Binance. However, such a process is associated with certain pros and cons and may require additional research. This article will discuss the most straightforward exchange methods to shed some light on buying or selling crypto without using a centralized crypto trading platform. Bitcoin ATMs Bitcoin-e...

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors. Among the turmoil in the global banking sector, Bitcoin (BTC) has shone brightly. That is because traders seem to have shifted their focus to the alternative available to the legacy banking system. Another thing working in favor of Bitcoin is that it has decoupled from the United States equities markets and is behaving as an uncorrelated asset class. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s solid rally in the past few days has boosted trader sentiment. The Crypto Fear and Greed Index h...