- Ethereum and Bitcoin ETFs Witness Heavy Inflows: Dominance End
- $ARC Token's Price Leap: Is It a Bull Run Beginning?
- Bitstamp & Garanti BBVA Partnership: Strengthening Turkey's Crypto Market
- Backpack Exchange Expansion Internationally via Acquisition of FTX EU
- Solana Proposes Revolutionary Solution to Scalability Issue
Ethereum and Bitcoin ETFs Witness Heavy Inflows: Dominance End
Ethereum ETFs are seeing a significant boost in investor confidence, with Ethereum spot ETFs recording a net inflow of $128.72 million on January 6. BlackRock’s ETF ETHA accounted for the majority of this, contributing $124.11 million, pushing the fund’s net assets to $13.47 billion, representing 3.03% of Ethereum’s market cap.
Bitcoin ETFs are also gaining momentum, with $987.06 million in inflows on the same day. The Fidelity Wise Origin Bitcoin Fund (FBTC) led the charge with $370.24 million, while BlackRock iShares Bitcoin Trust (IBIT) recorded $209.08 million in inflows.
$ARC Token’s Price Leap: Is It a Bull Run Beginning?
The price of the $ARC Token has surged by 8.30% in the last 24 hours, now trading at $0.04088. This impressive rise has caught the attention of traders, especially after a reward distribution of $15,301 (4.121 ETH) to 490 participants. A key feature of $ARC is its integration of artificial intelligence, enhancing the user experience and setting it apart from other tokens. Whether this is the start of a sustained bull run or just a temporary price surge remains to be seen.
Bitstamp & Garanti BBVA Partnership: Strengthening Turkey’s Crypto Market
In a landmark deal, Bitstamp, one of the world’s oldest cryptocurrency exchanges, has partnered with Garanti BBVA Kripto, a subsidiary of Turkey’s largest private bank. This partnership will grant Turkish users access to a range of approved cryptocurrencies through Bitstamp-as-a-Service. The collaboration bridges traditional banking with digital assets, providing secure and regulated trading options. As Turkey grows as a crypto hub, this partnership aims to integrate conventional finance with the evolving digital currency market.
Backpack Exchange Expansion Internationally via Acquisition of FTX EU
Backpack Exchange is aggressively expanding its global presence by acquiring FTX EU, the European arm of the failed FTX Exchange. The deal has been approved by both the FTX bankruptcy court and the Cyprus Securities and Exchange Commission. Backpack EU is set to enter the market in Q1 2025, focusing on transparency, compliance, and offering innovative crypto products, including derivatives. This acquisition fills the gap left by unregulated exchanges exiting Europe, opening new opportunities in the region.
Solana Proposes Revolutionary Solution to Scalability Issue
Solana is addressing its scalability issues, caused by mass user adoption, with a new hashing system called SIMD-215. Released on January 6, the proposal introduces a lattice-based homomorphic hashing function designed to efficiently track billions of accounts. This upgrade will allow instant verification and processing of only changed accounts, solving the problem of recalculating account states as user numbers grow. If successful, this solution could significantly improve Solana’s overall performance.
Stay tuned for more crypto updates and analysis.
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