Sabtu, 01 Februari 2025

🚀BTC rises toward all-time high; Dogecoin investment fund launched


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Your Daily Digest of the 🔥Hottest News in Crypto

Today's top stories:

📈 BTC rises toward its all-time high

🚀 Grayscale launches Dogecoin investment fund

🎧 Memecoin madness: Ulbricht loses $12M, Pump.fun lawsuit

📰 Keep reading to find out about all of today's top stories and more

Bitcoin rises toward its all-time high as futures markets show interest from bulls

Bitcoin price moves closer to its all-time high, and the absence of euphoria in derivatives markets is a positive sign.

Bitcoin is trading less than 5% below its all-time high of $109,500, yet demand
for leverage in perpetual contracts remains balanced between longs (buyers) and shorts (sellers). At first, this might seem concerning, but it does not necessarily increase the likelihood of a correction below $100,000.

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Grayscale launches Dogecoin investment fund

Grayscale Investments has launched an investment fund for Dogecoin, the most popular memecoin by market cap, the asset manager said on Jan. 31.

Grayscale Dogecoin Trust offers investors exposure to "the native coin of the Dogecoin network, an open-source peer-to-peer digital currency originally derived from Litecoin, which itself originated from Bitcoin," Grayscale said. The trust is only available to institutional investors.

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Tether clocks $13B in 2024 profits, US bond holdings hit all-time highs

Tether, the issuer of the dollar-pegged USDt stablecoin, saw record-breaking profits of $13 billion in 2024 and now has a larger-than-ever stockpile of US government bonds, according to a Jan. 31 announcement.

Tether's US Treasury portfolio is now worth approximately $113 billion, the company said. The growth in the company's Treasury holdings reflects the growing popularity of the USDT stablecoin, which Tether says is backed 1:1 with liquid US dollar-denominated assets.

[Cointelegraph Acceleration]

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OPINION

Strategic Bitcoin reserve: Not only for countries but for protocols

Nations, companies and blockchain protocols consider Bitcoin reserves as a strategic asset, but there's game theory hiding behind the decision-making.