💰 Privado ID becomes the latest project to spin out from Polygon Labs

Polygon ID has spun out from Polygon Labs and rebranded to Privado ID as it attempts to expand beyond the Polygon networks. The move aims to meet global demand for digital identity and reputation solutions that work with both online and onchain data in the era of increasing identity theft, fraud and AI-generated content, according to a statement shared with The Block.

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✈️@CryptoWorldNews🌐

💰 Bitcoin miner Bitfarms stock surges after raising 2025 guidance to over 35 EH/s

Bitcoin miner Bitfarms has reiterated the Riot Platforms takeover proposal would not be in the best interest of its shareholders and later announced it entered into an agreement to develop its first large-scale mining site in the United States, which will boost the miner's overall power capacity. As a result, this raises Bitfarms' 2025 power capacity to 648 megawatts, 170% growth from its current capacity and up 47% from its targeted year-end 2024 capacity.

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✈️@CryptoWorldNews🌐

💰 Bitcoin Spot ETF records total outflows of -$580M this week

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💰 Bernstein analysts raise bitcoin price target to $200,000 by end of 2025

Analysts at research and brokerage firm Bernstein have raised their price target for bitcoin to $200,000 from $150,000 by the end of 2025. The target is driven by expectations of unpreceded demand via spot bitcoin exchange-traded funds run by some of the world’s leading asset managers, such as BlackRock, Fidelity and Franklin Templeton, reaching around $190 billion in assets under management compared to $60 billion today, Gautam Chhugani and Mahika Sapra wrote in a note to clients.

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✈️@CryptoWorldNews🌐

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💰 Michael Saylor’s 21 Rules for Bitcoin calls Bitcoin ‘Chaos’ and an ‘economic virus’

MicroStrategy CEO Michael Saylor articulated a vision of Bitcoin as the world’s first perfect money, a profound innovation with the potential to reshape economic and political systems globally. Drawing parallels to historic scientific revolutions, Saylor positioned Bitcoin as a disruptive economic force, ushering in a new era of financial insight.

Source

✈️@CryptoWorldNews🌐

Top 5 Daily Gainers & Losers

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💰 MicroStrategy Ups its Bitcoin-Centered Convertible Note Offering to $700 Million

The world’s largest corporate holder of BTC increased its target by 40%. Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million. The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since the start of the year.

Source

✈️@CryptoWorldNews🌐

Top 5 Daily Gainers & Losers

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🚀Top 10 Trending Coins Last 7 Days 🚀

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JUST IN: 🟢 Tether, the world's largest stablecoin launches new synthetic dollar backed by gold.

🤝 @Cryptocurrency_Inside ✅

Top 5 Daily Gainers & Losers

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💰 Bitcoin falls below key support level, potentially triggering 8%-12% correction: CryptoQuant

Bitcoin has fallen through a price support level that can signal an 8%-12% correction when the price crosses it to the downside, CryptoQuant analysts said in a report published Tuesday. "As the price of bitcoin has crossed this metric to the downside, bitcoin could decline towards $60,000. The bitcoin price has fallen below the trader's on-chain realized price of $65,800, a key support level in bull markets," the analysts added.

Source

✈️@CryptoWorldNews🌐

🇺🇸 SEC Is Dropping Its Investigation Into Ethereum, Consensys Says

Leading Ethereum developer Consensys announced late Tuesday that the U.S. Securities and Exchange Commission is “closing its investigation” into the cryptocurrency. “Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” the company posted on Twitter. “This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.”

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✈️@CryptoWorldNews🌐

Top 5 Daily Gainers & Losers

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🥇 Bernstein predicts spot Bitcoin ETFs near approval at major wirehouses; maintains $200,000 target by 2025 end

While bitcoin bears argue the spot Bitcoin exchange-traded fund trade is “done,” they are missing two key factors, according to analysts at research and brokerage firm Bernstein. Arguments against the Bitcoin ETF trade revolve around early allocations being driven by retail investors, with institutional involvement confined to the basis “cash and carry” trade rather than net long positions, meaning the ETF flows are not “real,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.

Source

✈️@CryptoWorldNews🌐

🪙 Elevated Ether Volatility Expectations May Be Unfounded

Spot ether exchange-traded funds (ETFs) are expected to begin trading in the U.S. this year. The highly anticipated debut has investors positioning for higher volatility in the ether (ETH) price relative to bitcoin (BTC). The spread between the forward-looking, 30-day implied volatility indexes for ether (ETH DVOL) and bitcoin (BTC DVOL) flipped positive in April on dominant crypto options exchange Deribit. Since then, it has risen to 17%, according to data tracked by Amberdata. Implied volatility estimates the degree of future price swings based on options prices.

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✈️@CryptoWorldNews🌐