cryptocurrency
DeFi Technologies creates SolFi to be its ‘MicroStrategy for Solana’
Published
1 month agoon
By
adminDeFi Technologies, a company bridging traditional finance with cryptocurrency by providing exposure to digital assets, has announced a new platform aimed at adding Solana to its balance sheet.
In an announcement on Nov. 12, DeFi Technologies revealed it had created a spinout entity named SolFi, which will focus on adopting a Solana (SOL) treasury strategy. According to a blog post, SolFi will offer investors direct exposure to Solana and its ecosystem, including “proprietary trading, validator node operations, and ecosystem investments.”
The company is looking to follow in the footsteps of MicroStrategy, whose Bitcoin (BTC) strategy has inspired similar approaches across the market. Metaplanet, often referred to as “Asia’s MicroStrategy” after acquiring substantial BTC holdings in recent months, is one such example.
Microstrategy inspired approach
According to DeFi Technologies, SolFi will act as its “MicroStrategy for Solana,” allowing the firm to tap into the SOL ecosystem’s high-yield staking and growth potential. SolFi plans to leverage capital structures beyond those available to exchange-traded funds to provide access to SOL’s potential upside and cash flow.
In a comment, DeFi Technologies chief executive officer Olivier Roussy Newton said:
“The success of Microstrategy has elevated exposure to the #1 digital asset in Bitcoin, and we look forward to focusing SolFi’s digital asset strategy towards Solana from the ground-up. Like Microstrategy, SolFi will generate cash flow from an operating company, and tap capital markets for creative financing structures that allows SolFi to quickly grow its treasury and accelerate its staking operations.”
SolFi will help DeFi Technologies bring more value to its shareholders, he added.
MicroStrategy recently purchased over $2 billion worth of BTC to see its holdings of the flagship digital asset reach 279,420 BTC. The company acquired this haul since August 2020 and has spent approximately $11.9 billion.
On November 12, MicroStrategy founder Michael Saylor shared that its treasury operations have seen it hit a BTC yield of 26.4% year-to-date, with shareholders receiving a net benefit of roughly 49,936 BTC.
“This is equivalent to 157.5 BTC per day, acquired without the operational costs or capital investments typically associated with bitcoin mining,” Saylor posted on X.
Source link
You may like
Experts say these 3 altcoins will rally 3,000% soon, and XRP isn’t one of them
Robert Kiyosaki Hints At Economic Depression Ahead, What It Means For BTC?
BNB Steadies Above Support: Will Bullish Momentum Return?
Metaplanet makes largest Bitcoin bet, acquires nearly 620 BTC
Tron’s Justin Sun Offloads 50% ETH Holdings, Ethereum Price Crash Imminent?
Investors bet on this $0.0013 token destined to leave Cardano and Shiba Inu behind
Bitcoin
Metaplanet makes largest Bitcoin bet, acquires nearly 620 BTC
Published
5 hours agoon
December 23, 2024By
adminTokyo-listed Metaplanet has purchased another 9.5 billion yen ($60.6 million) worth of Bitcoin, pushing its holdings to 1,761.98 BTC.
Metaplanet, a publicly traded Japanese company, has acquired 619.7 Bitcoin as part of its crypto treasury strategy, paying an average of 15,330,073 yen per (BTC), with a total investment of 9.5 billion yen.
According to the company’s latest financial disclosure, Metaplanet’s total Bitcoin holdings now stand at 1,761.98 BTC, with an average purchase price of 11,846,002 yen (~$75,628) per Bitcoin. The company has spent 20.872 billion yen in total on Bitcoin acquisitions, the document reads.
The latest purchase is the largest so far for the Tokyo-headquartered company and comes just days after Metaplanet issued its 5th Series of Ordinary Bonds via private placement with EVO FUND, raising 5 billion yen (approximately $32 million).
The proceeds from this issuance, as disclosed earlier, were allocated specifically for purchasing Bitcoin. These bonds, set to mature in June 2025, carry no interest and allow for early redemption under specific conditions.
Metaplanet buys dip
The company also shared updates on its BTC Yield, a metric used to measure the growth of Bitcoin holdings relative to fully diluted shares. From Oct. 1 to Dec. 23, Metaplanet’s BTC Yield surged to 309.82%, up from 41.7% in the previous quarter.
Bitcoin itself has seen strong performance this year, climbing 120% and outperforming assets like the Nasdaq 100 and S&P 500 indices. However, it has recently pulled back from its all-time high of $108,427, trading at $97,000 after the Federal Reserve indicated only two interest rate cuts in 2025.
Despite the retreat, on-chain metrics indicate that Bitcoin is still undervalued based on its Market Value to Realized Value (MVRV-Z) score, which stands at 2.84 — below the threshold of 3.7 that historically signals an asset is overvalued.
Source link
Blockchain
Horizen spikes 60% to lead gainers as BTC, ETH bounce
Published
3 days agoon
December 20, 2024By
adminHorizen price spiked more than 60% in 24 hours as the cryptocurrency market looked to recover from a massive dump that saw top altcoins crash to key support levels.
On Dec. 20, as Bitcoin (BTC) traded to above $97k and Ethereum (ETH) bulls pushed above $3,400, the price of Horizen (ZEN) surged to highs of $26.34. The cryptocurrency, which rallied sharply following a recent Grayscale Investments announcement, reached a multi-year high and ranked among the top gainers in the 500 largest cryptocurrencies by market cap.
ZEN traded at lows of $14.55 on Dec. 19. However, despite the broader crypto crash and the staggering $1.4 billion liquidations, the altcoin’s price hovered above $26 in early trading during the U.S. trading session.
According to crypto.news price data, Horizen recorded a 24-hour trading volume of over $397 million, with its market cap exceeding $407 million. These metrics reflected increases of 294% and 62%, respectively, in the past 24 hours. While ZEN has surged nearly 200% over the past month, its current levels are still more than 84% below the all-time high of $168 reached in May 2021.
If the broader crypto market continues to rebound, ZEN bulls may aim for March 2022 highs near $50.
The positive momentum has benefited from Grayscale opening of the Grayscale ZEN Trust to qualified investors. Prices of the altcoin rose as the digital asset manager unveiled the fund to offer exposure to Horizen for qualified investors.
Earlier this month, Horizen’s native token underwent its final halving, which came as the project geared for a key change in its tokenomics. ZEN will not see any further halvings as the new network mechanism enables a declining emission rate.
That’s because Horizen, is shifting from the proof of work mining model that mirrored Bitcoin’s halving cycle to a new proof of stake mechanism in 2025. Horizen’s last halving occurred on Dec. 12, 2024.
New tokenomics for Horizen will come into effect in the first half of 2025.
Source link
Binance
Binance Futures updates leverage and margin tiers for multiple USDⓈ-M perpetual contracts
Published
4 days agoon
December 19, 2024By
adminBinance’s updated leverage and margin tiers offer improved trading options for select trading pairs, bringing both potential rewards and risks for crypto traders.
The leverage and margin levels for USDⓈ-M perpetual contracts, including DAR, ME, CAKE, IOTA, LPT, ONE, and ZEN, will be updated by Binance Futures today, with effect from 08:15 UTC on Dec. 19, 2024.
USDⓈ-M stands for USD-Margined Futures, a type of cryptocurrency futures contract offered on platforms like Binance. It refers to stablecoins such as USDT (Tether) or BUSD (BUSD), which are pegged to the US dollar. These contracts are settled in these stablecoins, rather than traditional fiat currency or the underlying crypto asset.
Depending on the contract and position size, the revised leverage tiers will vary from 1x to 75x, enabling traders to fully benefit from their leveraged positions in the crypto market.
Leveraged positions of traders will be impacted by the new maintenance margin rates, which range from 1.00% to 50.00%.
Margin is the total amount of collateral needed to open and sustain a trading position, whereas leverage is the borrowing of funds to increase the size of a position. The possible return increases with leverage, but the chance of loss also goes up.
By adjusting the margin and leverage tiers, Binance Futures continues to give traders more choices to control risk and profit from volatile crypto market movements.
Traders must keep themselves updated with Binance Future trading rules and exercise risk management, particularly when working with high-leverage instruments over several contracts and margin holdings.
Source link
Experts say these 3 altcoins will rally 3,000% soon, and XRP isn’t one of them
Robert Kiyosaki Hints At Economic Depression Ahead, What It Means For BTC?
BNB Steadies Above Support: Will Bullish Momentum Return?
Metaplanet makes largest Bitcoin bet, acquires nearly 620 BTC
Tron’s Justin Sun Offloads 50% ETH Holdings, Ethereum Price Crash Imminent?
Investors bet on this $0.0013 token destined to leave Cardano and Shiba Inu behind
End of Altcoin Season? Glassnode Co-Founders Warn Alts in Danger of Lagging Behind After Last Week’s Correction
Can Pi Network Price Triple Before 2024 Ends?
XRP’s $5, $10 goals are trending, but this altcoin with 7,400% potential takes the spotlight
CryptoQuant Hails Binance Reserve Amid High Leverage Trading
Trump Picks Bo Hines to Lead Presidential Crypto Council
The introduction of Hydra could see Cardano surpass Ethereum with 100,000 TPS
Top 4 Altcoins to Hold Before 2025 Alt Season
DeFi Protocol Usual’s Surge Catapults Hashnote’s Tokenized Treasury Over BlackRock’s BUIDL
DOGE & SHIB holders embrace Lightchain AI for its growth and unique sports-crypto vision
182267361726451435
Why Did Trump Change His Mind on Bitcoin?
Top Crypto News Headlines of The Week
New U.S. president must bring clarity to crypto regulation, analyst says
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin Open-Source Development Takes The Stage In Nashville
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Washington financial watchdog warns of scam involving fake crypto ‘professors’
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
NoOnes Bitcoin Philosophy: Everyone Eats
Trending
- 3 months ago
182267361726451435
- Donald Trump5 months ago
Why Did Trump Change His Mind on Bitcoin?
- 24/7 Cryptocurrency News4 months ago
Top Crypto News Headlines of The Week
- News4 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Price analysis4 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Opinion5 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin5 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Bitcoin5 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential