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SAFE rallies 20% on Bithumb listing

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SAFE, the native token of Safe Wallet, surged 20% as Bithumb listed the token on its platform.

Safe (SAFE) rose to $1.10 on Jan. 10, marking a 20% surge from its monthly low of $0.924 while bringing its market cap to nearly $600 million at the time of writing.

The altcoin’s rally occurred in a high-volume environment. Its daily trading volume surged by 429%, climbing from $15 million early Thursday morning to over $80 million.

Despite the recent rally, the altcoin still holds significant growth potential, considering that SAFE’s price remains 69% below its all-time high of $3.56 in April last year.

SAFE rallied as Bithumb, a major South Korea-based crypto exchange, announced it would add a KRW trading pair for the SAFE token on Jan. 10, along with SONIC and AHT tokens.

A SAFE/KRW trading pair will allow direct trading between the SAFE token and the South Korean won, making it more accessible to a wider audience, particularly in the South Korean market.

Typically, a listing on a premier South Korean exchange such as Upbit or Bithumb results in a strong rally in the related token. One such instance was reported earlier in October last year when SAFE secured a listing on Upbit, leading to a 72% surge in just one day. 

SAFE also rallied as a result of increased demand among its derivatives traders. According to CoinGlass, open interest for SAFE in the futures market surged by 151% over the past day, reaching $19.5 million, much higher than the $5.5 million recorded at the beginning of the year.

However, it’s important to note that rallies following exchange listings often face a reversal as investors sell their holdings to secure profits. Notably, data from CoinGlass shows that over $5.96 million SAFE was sent to centralized exchanges on Dec. 10, compared to the $5.65 million withdrawn.

Additionally, the weighted funding rate for SAFE at press time was -0.6690%, which means short sellers were dominating the market, with more traders betting on its price to dip lower.

Such levels also increase the possibility of a short squeeze if the price reverses upwards, potentially forcing short positions to close.

At press time, SAFE had wiped most of its gains, falling 7% from its daily high, and was trading at $1.01 per coin.



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Genius Group buys $5m more in Bitcoin, totaling treasury to $35m

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Genius Group Limited has increased its Bitcoin Treasury to $35 million. 

This purchase surpassed its milestone ahead of schedule in its ongoing effort to amass $120 million in Bitcoin holdings, according to a company release.

The latest purchase comes just two months after the Singapore-based, AI-powered education company announced its “Bitcoin-first” strategy in early November.

Genius Group added $5 million worth of Bitcoin (BTC) purchases, bringing its total holdings to 372 BTC at an average acquisition price of $94,047 per Bitcoin.

As of Jan. 9, the company’s Bitcoin Treasury was valued at $35 million, reflecting the current Bitcoin price of around $94,000.

With Genius Group’s market capitalization at $42 million, its BTC-to-price ratio stands at 83%.

Genius Group’s additional loan 

To further grow its Bitcoin Treasury, Genius Group has increased its loan with Arch Lending from $10 million to $14 million, maintaining a loan-to-value ratio of 40%, according to the release.

The company is heavily leveraging crypto-backed loans to fund its reserves without selling Bitcoin, in line with its strategy of allocating 90% or more of its reserves to Bitcoin.

Genius Group, which integrates AI solutions into education, views Bitcoin as a key component of its financial strategy. CEO Roger Hamilton has compared the company’s approach that of other publicly traded firms that have adopted Bitcoin as a reserve asset, emphasizing its potential as a “store of value” in the digital economy.

The firm’s “Bitcoin-first” strategy aligns with its broader plans to incorporate blockchain technology into its AI-powered educational platforms. These plans include implementing on-chain certifications and reward systems using Bitcoin’s Lightning Network.



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Bitcoin Supercycle Incoming Amid Changing Market Conditions, According to Alex Krüger – But There’s a Catch

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Economist and trader Alex Krüger is leaning bullish on Bitcoin (BTC) even as the flagship crypto asset hovers around 14% below the all-time high.

In a new episode of the Unchained podcast, Krüger says that Bitcoin has more upside potential and is not even “remotely” close to the cycle top.

According to the economist and trader, the approval of spot Bitcoin exchange-traded funds (ETFs) in January of 2024 could result in the crypto king no longer following the usual four-year cycles that revolve around the halving.

“I think that what happened is the introduction of the ETF and the flows which are significant, they tie together and they make the correlation between risk and Bitcoin more sustainable. So that’s why I’m not thinking about a cycle top…

…at the same time market conditions for Bitcoin they are changing because the impact of the halving is lesser and we have ETFs now. So I am on the super cycle side of things.”

Krüger, however, says that a supercycle doesn’t mean that “we go up only.”

“It means that we have shorter [corrections]… for as long as equities do well and the economy does well, that may not be the same but they are usually the same. We have smaller drawdowns that last for shorter [periods of time].”

Bitcoin is trading at $93,134 at time of writing, around 10% below the 2025 high of about $102,000.

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Not Reached ‘Extreme Euphoria’ Phase Yet, Glassnode Reveals

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Este artículo también está disponible en español.

The on-chain analytics firm Glassnode has revealed the level Bitcoin would have to rise to if it has to reach the historical top zone in this pricing model.

Bitcoin Hasn’t Surpassed Last MVRV Pricing Band Yet

In a new post on X, Glassnode has talked about the extreme euphoria threshold of the Bitcoin Market Value to Realized Value (MVRV) Pricing Bands. The MVRV Pricing Bands is a pricing model for the cryptocurrency that’s based on the MVRV Ratio.

The “MVRV Ratio” is a popular on-chain indicator that keeps track of how the value held by the Bitcoin investors (that is, the market cap) compares against the value that they initially put in (the realized cap). When the metric is greater than 1, the investors are holding more value than their initial investment, meaning that they are in a state of net profit. On the other hand, it being under the threshold suggests the market as a whole is underwater.

Historically, the holders being in too much profit has often signaled overheated conditions for Bitcoin, due to the fact that mass selloffs with the motive of profit-taking become probable in such conditions. Similarly, the dominance of loss has led to bottoms, as there aren’t many sellers left during these periods.

The MVRV Pricing Bands aim to capture this relationship. It defines certain price levels for the cryptocurrency that correspond to important levels in the MVRV Ratio.

Here is the chart for the model shared by Glassnode that shows the trend in these Bitcoin pricing bands over the last several years:

Bitcoin MVRV Pricing Bands
Looks like BTC is currently under the final two bands of this model | Source: Glassnode on X

From the graph, it’s visible that the 0.8 pricing band, which is where the MVRV Ratio assumes a value equal to 0.8, has been around where bear market bottoms have formed for the asset. Right now, BTC is far above this level, situated at $33,100. The coin’s price is also at a significant distance from the 1.0 level of $41,300, which corresponds to the cost basis of the average address or investor on the network.

The pricing bands that BTC is currently trading under are the 2.4 and 3.2 levels, located at $99,300 and $132,400, respectively. The former of these has historically served as a signal that the bull market is getting heated.

BTC can stay inside this zone for a while, but once the market cap surpasses the 3.2 level, it becomes very likely that some type of top is going to be hit soon.

The chart below illustrates just how rare it is for the asset to trade in the region above 3.2:

Bitcoin MVRV
The number of days spent above and below the various pricing bands of the model | Source: Glassnode on X

“BTC price has historically spent only ~5% of trading days above the 3.2 MVRV level,” notes the analytics firm. “This highlights how rare such peaks are and reinforces why it’s often considered an “extreme euphoria” zone.”

So far, Bitcoin hasn’t been able to surpass this line in the current cycle. If the past bull markets are anything to go by, the top would only occur above this level, which would imply more room still left for the asset to run in the current cycle. It only remains to be seen, though, whether the pattern would actually hold this time or not.

BTC Price

At the time of writing, Bitcoin is trading at around $93,400, down more than 3% over the last seven days.

Bitcoin Price Chart
The price of the coin appears to have been following a bearish trajectory | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com



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