crypto
Blockchain.com Names Tim Lubans as General Counsel | by Blockchain.com | @blockchain | Feb, 2023
Published
1 year agoon
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admin![](https://blocknewsmedia.com/wp-content/uploads/2023/02/1MjkAbeGd2MBjzp8GsIt0eQ.png)
As we look towards the future of crypto, 2023 presents Blockchain.com with an opportunity to build upon our success, prepare for what’s ahead and — most importantly — continue to support our tens of millions of customers in over 150 countries.
To kick off this year, we are delighted to announce Tim Lubans has been promoted to General Counsel of Blockchain.com.
Tim manages the Legal and Compliance teams and is responsible for the oversight of all legal, regulatory and compliance matters globally. With 20 years in regulated financial services, Tim brings a wealth of industry knowledge and experience to his role of General Counsel as Blockchain.com faces a rapidly evolving regulatory environment.
Tim began his career as a regulatory lawyer at Clifford Chance in the early 2000s, making the move in-house at BlackRock (and the world of asset management) in 2006. Tim’s 12 years at BlackRock in London culminated in his time as Managing Director of the EMEA Legal & Compliance department, where he was the Co-Head of BlackRock EMEA’s Funds Legal Team, as well a member of the iShares ETF EMEA Executive Committee from 2015 to 2018.
Having joined Blockchain.com in 2019, Tim has led many aspects of the global expansion of the company and its maturation as a regulated services provider. Under Tim’s leadership, Blockchain.com will continue its evolution as one of the leading regulated digital asset providers in the world.
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Bitcoin
Bitcoin Weekend Trading Volumes Plunge To Record Lows
Published
9 mins agoon
July 1, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/a.jpg)
Bitcoin has long been a hallmark of the cryptocurrency markets, thriving on its 24/7 accessibility. Weekend trading, once a notorious breeding ground for volatility, has been especially significant in the cryptocurrency landscape.
However, a recent report by Kaiko reveals a not so rosy picture – BTC weekend trading volumes have plunged to historic lows, potentially marking a new era dominated by institutional weekday warriors.
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Bitcoin Trading Activity Takes A Nap
Kaiko’s data is straightforward: Bitcoin weekend trading activity has shrunk dramatically, dropping from a high of 28% in 2019 to a mere 16% in 2024. This dramatic decline coincides with the highly anticipated launch of spot Bitcoin ETFs in the US. These exchange-traded funds, mirroring the behavior of stocks, can only be traded during traditional market hours.
![](https://www.newsbtc.com/wp-content/uploads/2024/07/A.png?resize=682%2C373)
The influence of institutional investors, who tend to favor these regulated products, is evident. The report highlights a surge in Bitcoin trading activity during the “benchmark fixing window” – the final hour of US stock market trading. This suggests institutions are shaping new trading patterns, prioritizing weekdays over the once-active weekends.
![](https://www.newsbtc.com/wp-content/uploads/2024/07/A_956510.png?resize=682%2C359)
Beyond Weekends: A Multifaceted Market Transformation
The decline in weekend activity isn’t solely attributable to ETFs. The closure of crypto-friendly banks like Signature and Silicon Valley Bank in March 2023 is another contributing factor. These institutions provided 24/7 infrastructure that enabled market makers to constantly place buy and sell orders. Their absence has created a void in weekend liquidity, further dampening trading activity.
However, the changing landscape isn’t all doom and gloom. The report offers a glimmer of hope for investors seeking stability. The reduced weekend volatility could make Bitcoin a more predictable asset, potentially attracting a new wave of institutional interest. Additionally, the historical trend suggests July could be a positive month for Bitcoin, with price increases observed in seven out of the past 11 Julys.
Jitters On The Horizon?
While the weekend trading scene may be quieting down, the coming weeks look to be somewhat turbulent for the crypto market. The potential approval of Ethereum ETFs could further fuel institutional involvement and potentially impact Bitcoin’s dominance.
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The Road Ahead
The dwindling weekend trading activity signifies a potential paradigm shift in the Bitcoin market. While the once-volatile weekends may become a relic of the past, the coming months promise to be eventful.
Institutional investors are now in the spotlight, shaping new trading patterns and potentially ushering in an era of greater stability. However, this month could still introduce significant volatility, keeping investors on the edge of their seats.
Featured image from Inc. Magazine, chart from TradingView
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Bitcoin
Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs
Published
16 hours agoon
June 30, 2024By
adminJune was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed.
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However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong.
New BTC Addresses Surge To 2-Month High
Despite the price slump, the network is exhibiting a promising trend that signals future growth for the world’s largest cryptocurrency. According to Glassnode chart data initially shared on social media platform X by crypto analyst Ali Martinez, new BTC wallet addresses have risen steadily over the past week to reach 352,124, their highest level since April.
Interestingly, the chart shows that the recent uptick in new addresses contrasts with a larger decrease in the creation of new addresses since November 2023. This new increase points to an influx of new users entering the crypto space. As more people adopt Bitcoin, demand will inevitably grow, which is a catalyst for price surges down the line.
Furthermore, Martinez suggested that the uptick in new addresses is from retail investors making a comeback. While institutional investors often drive major market moves, retail interest is crucial for Bitcoin’s mainstream adoption.
Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0
— Ali (@ali_charts) June 29, 2024
A major part of the increase in new addresses can be attributed to recent adoption in the Brazilian market. Nubank, Brazil’s biggest neobank, recently announced plans to integrate Bitcoin’s lightning network into its services. As the largest fintech bank in Latin America, this integration could potentially expose a significant portion of its 100 million customers to the digital asset.
What’s Next For Bitcoin?
At the time of writing, Bitcoin was trading at $61,446. The leading digital asset has lost over 10% of its market cap in a 30-day time frame and the bulls are struggling to break above $61,000. This downtrend could be attributed to a selloff by miners and many long-term holders. Specifically, around 40,000 BTC were sold by long-term holders in June.
Bear markets are temporary. Bull runs will return. It’s just a matter of when, not if. With the second half of the year now approaching, time can only tell how the price of Bitcoin unfolds. Of course, new wallet addresses don’t directly impact price, but they are a leading indicator of growing Bitcoin adoption.
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This adoption and demand, coupled with a recent decrease in the number of new Bitcoins entering the market, points to an increase in the price of Bitcoin in July.
Featured image from CNBC, chart from TradingView
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21shares
BREAKING: 21Shares Joins Race To Launch Spot Solana ETF
Published
3 days agoon
June 28, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/06/Screenshot_236.jpg)
In a significant development for the cryptocurrency industry, investment firm 21Shares filed an S-1 registration form for a Spot Solana ETF with the US Securities and Exchange Commission (SEC) on Friday.
The 21Shares application follows a similar filing by Bitcoin ETF issuer and asset manager VanEck on Thursday, indicating a growing interest in Solana as a potential competitor to the anticipated Ethereum ETF market, which is expected to begin trading in July.
21Shares Introduces Core Solana ETF
The 21Shares Core Solana ETF, as described in the filing, is designed to issue common shares of beneficial interest that trade on the Cboe BZX Exchange.
Its investment objective is to track the performance of SOL, providing investors with a convenient and cost-effective method to gain exposure to SOL without making a direct investment in the asset. Based on the index, the ETF will hold SOL and value its shares daily.
The Trust will be sponsored by 21Shares, with CSC Delaware Trust Company acting as the trustee. Coinbase Custody Trust Company will serve as the SOL custodian, holding all of the Trust’s SOL on its behalf.
SOL Price Consolidates After Initial ETF Announcement
While the SEC’s approval of a Solana ETF is subject to regulatory review and compliance, these filings demonstrate the increasing demand for investment products that expose Solana’s digital assets.
If approved, the ETFs would provide investors with a regulated and accessible way to participate in Solana’s potential growth and performance.
Notably, this could be the start of new filings with the SEC by the world’s largest asset managers, as has already been the case with Bitcoin and Ethereum ETFs.
Nonetheless, SOL has not had the same reaction as it did on Thursday with VanEck’s announcement of its Solana ETF filing, which sent SOL’s price to a 9% price recovery towards $150 after a dip to $121 earlier in the week. Now SOL is trading at $142 due to a 4% price correction experienced over the past 24 hours.
Featured image from DALL-E, chart from TradingView.com
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