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Peter Davis

An writer at FOMOdrive

  • Jul 07, 2023
  • 2 min read

The head of Binance told when the Bitcoin rally will begin

Bitcoin coins with blue financial chart on background

BlackRock's CEO referred to bitcoin as an "international asset".

The income of Bitcoin miners from fees rose by a whopping 270%.

The amount of "locked" bitcoins has hit an all-time high.

Valkyrie Funds has released a revised version of its application for the introduction of a Bitcoin Exchange-Traded Fund (ETF).

Japan is being considered by Circle as a potential issuer of a stablecoin.

In June, ARK Invest reported in its monthly report that the first cryptocurrency, which had been dormant for over a year, had reached an all-time high of 70% of the total market supply of the coin. This indicator demonstrates the trust that hodlers and institutionals have in the long-term potential of BTC.

Santiment's calculations showed that medium and large investors, who hold between 10 and 10,000 BTC, have accumulated up to 67% of the total cryptocurrency supply. Over the past seven weeks, these investors have purchased more than 154 thousand coins, bringing their total reserves to 13 million BTC.

According to Larry Fink, CEO of BlackRock, the world's largest asset management company, Bitcoin has become a way of "digitizing gold" and is "a truly global asset". He believes that BTC can be seen as an alternative to more traditional assets, and as a way to protect against inflation.

Changpeng Zhao, the head of Binance, has declared that the platform is ready for a potential Bitcoin rally in the next 6-18 months. He further speculated that the next bull market could begin in 2025, following the Bitcoin halving in April 2024.

Valkyrie Funds has submitted an updated application to the SEC, with Coinbase as a partner in a joint oversight agreement, to launch a spot bitcoin ETF on Nasdaq.

Timothy Massad, the former Chairman of the Commodity Futures Trading Commission (CFTC), suggested that the Securities and Exchange Commission (SEC) and the CFTC should form a self-regulatory organization (SRO) to develop standards for safeguarding crypto investors.

Revenue from Bitcoin miner fees increased to $184 million in the second quarter, a 270% increase from the previous quarter and higher than the entire year of 2022, as reported by Coin Metrics.

Jeremy Ellire, CEO of Circle, has stated that they are looking into the option of releasing a stablecoin in Japan, as new regulations concerning stablecoins have been put into effect in the nation.

Ran Neuner, a cryptocurrency blogger and CNBC analyst, believes that only five altcoins will be able to withstand another bearish trend in the cryptocurrency market. He has identified XRP as one of these five coins.

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