Last night, in a noteworthy turn of events, the Solana (SOL) network experienced an outage, with transactions temporarily halted. Consequently, SOL’s price quickly dipped to $94 before recovering to $97, and it’s currently trading at approximately $96.3. Meanwhile, Ethereum (ETH) appears to have captured the attention of Bitcoin (BTC) traders, as BTC’s price remains in a consolidation phase. ETH has experienced a 2.33% rise over the last 24 hours, now trading at $2,375. This shift indicates a dynamic movement in the cryptocurrency market, with traders exploring opportunities beyond Bitcoin’s current stability.
What to Watch Out for Today
1. MicroStrategy’s Bitcoin Investment Grows: MicroStrategy acquires an additional 850 Bitcoins, reaching 190,000 BTC in holdings. With a net income boost in Q4 2023, the firm points to a digital asset transformation and a bullish future for Bitcoin, especially with ETFs on the horizon. Investors might wish to consider the implications associated with institutional adoption of Bitcoin. Long BTC?
2. BlackRock’s ETF Makes a Splash: In just 17 days, BlackRock’s iShares Bitcoin Trust (IBIT) became one of the top ETFs by inflow in 2024. With $3.2 billion in inflows, it stands among giants, signaling strong investor interest in Bitcoin. Could this be a pivotal moment for those looking to diversify into crypto ETFs?
3. Glif’s Funding and Rewards Program: Filecoin’s Glif has raised $4.5 million, with a rewards program planned ahead of a token launch. Targeting a significant value locked, Glif aims to bolster the Filecoin DeFi ecosystem. For DeFi enthusiasts and investors, Glif’s developments could offer new opportunities. Keep an eye on their progress! Long FIL?
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