Day: March 17, 2025

Canary Capital files S-1 with SEC for SUI ETF

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Key Takeaways Canary Capital filed for a spot ETF tracking SUI with the SEC. The ETF could increase SUI’s liquidity and market capitalization. Share this article Canary Capital on Monday filed an S-1 registration statement with the US SEC for a spot ETF tracking SUI, the native token of the Sui Network. The new filing comes after the asset manager registered a statutory trust for the SUI ETF in Delaware on March 6, a move that typically precedes the SEC submission. Canary Capital must also submit a 19b-4 filing through…

Move is now primed to grow DeFi

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Opinion by: Alex Nguyen, CEO at VibrantX The Move programming language’s origin is not super cypherpunk. Facebook (now Meta) created Move after the Libra/Diem team compared major smart contract languages (Bitcoin Script, Ethereum Virtual Machine bytecode languages) and decided their formidable in-house tech talent could make a new language built on years of private and public sector research. The original team, including founders Mo Shaikh, Avery Ching, and their engineering team, left Facebook to continue as a fully independent, open-source project headed up by Aptos Labs and supported by the…

Ethereum onchain data suggests $2K ETH price is out of reach for now

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Ether’s (ETH) price has been consolidating within a roughly $130 range over the last seven days as $2,000 remains strong overhead resistance. Data from Cointelegraph Markets Pro and Bitstamp shows that ETH price oscillates within a tight range between $1,810 and $1,960. ETH/USD daily chart. Source: Cointelegraph/TradingView Ether price remains pinned below $2,000 for several reasons, including declining Ethereum’s weak network activity and decreasing TVL, negative spot Ethereum ETF flows, and weak technicals. Negative spot Ethereum ETF outflows The underperformance in Ether’s price can be attributed to investors’ risk-off behavior,…

South Korea Dismisses Establishing Strategic Bitcoin Reserve

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The Bank of Korea (BOK) has dismissed the possibility of establishing a strategic bitcoin reserve, citing concerns over price volatility and risks. This comes despite ongoing global discussions about using bitcoin as part of foreign exchange reserves following the United States plans to create a reserve. In response to an inquiry from a member of the National Assembly’s Strategy and Finance Committee, the central bank rejected adding bitcoin to its reserves. BOK officials emphasized bitcoin’s wild price swings as a key deterrent, stating that transaction costs to convert bitcoin to…

Bitcoin miner Bitfarms completes Stronghold acquisition, increases capacity to 623 MW

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Key Takeaways Bitfarms acquired Stronghold Digital Mining, securing a 1.1 GW growth pipeline in Pennsylvania. The acquisition increases Bitfarms’ energy portfolio to 623 Megawatts Under Management. Share this article Bitcoin mining firm Bitfarms announced today it had completed its acquisition of Stronghold Digital Mining, securing a 1.1 gigawatt growth pipeline across three sites in Pennsylvania and expanding its presence in the PJM market. Under the terms of the agreement, Stronghold shareholders received 2.52 Bitfarms shares for every share of Stronghold stock they owned. Stronghold also ceased to exist as an…

Michael Saylor’s Strategy makes smallest Bitcoin purchase on record

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Michael Saylor’s Strategy, the world’s largest public corporate Bitcoin holder, has announced its smallest Bitcoin purchase on record. Strategy on March 17 officially announced its latest 130 Bitcoin (BTC) acquisition, bought for around $10.7 million in cash, or at an average price of roughly $82,981 per BTC. The latest Bitcoin purchase was made using proceeds from the “STRK ATM,” a new Strategy’s program looking to raise up to $21 billion in fresh capital to acquire more BTC. Strategy’s new 130 BTC buy is the smallest one ever recorded since the…

Bitcoin ‘bullish cross’ with 50%-plus average returns flashes again

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Bitcoin’s (BTC) stochastic RSI has printed a bullish cross with a history of preceding sharp price rebounds. Stochastic RSI tracks momentum based on price movements relative to their range over a given period. This classic indicator operates between 0 and 100, with values above 80 considered overbought and below 20 deemed oversold. BTC/USDT weekly price chart. Source: TradingView/Merjin The Trader A crossover of the blue %K line above the orange %D line from an oversold region technically suggests growing upward momentum. Another $120,000 BTC price target emerges Historical fractals show…

Michael Saylor’s Strategy acquires 130 Bitcoin at an average price of $82,981

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Key Takeaways Strategy scooped 130 Bitcoin during the week ending March 16. The acquisition was funded by selling series A preferred stock, generating $10.7 million in net proceeds. Share this article Business intelligence firm Strategy, formerly known as MicroStrategy, said today it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per coin between March 10 and March 16. The company resumed Bitcoin acquisitions after a two-week pause, following the purchase made in the week ending February 23. Last week’s acquisition was the smallest since April,…

US recession, circular crypto economy

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While most analysts expect the crypto bull cycle to continue until the end of 2025, concerns over an economic recession in the United States, along with crypto’s “circular” economy, may still threaten crypto valuations. Despite the recent market correction, most crypto analysts expect the bull cycle to peak after the third quarter of 2025, with Bitcoin (BTC) price predictions ranging from $160,000 to above $180,000. Beyond external concerns, such as a potential recession in the world’s largest economy, crypto’s biggest industry-specific risk is the “circular” nature of its economy, according…

Telegram ‘exceeded’ its legal obligations

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Telegram founder Pavel Durov said the company had always met and “exceeded” its legal obligations in moderation, cooperation and fighting crime.  On March 17, the Telegram founder posted an update on the messaging application, saying he was already back in Dubai after spending months in France. Durov said the process is still ongoing but added that it “feels great to be home.” The post follows reports that the Telegram founder was allowed to leave France and return home. On March 15, a report citing anonymous sources said the executive had…