ETH’s recent rally was driven by spot demand and a healthy use of futures market leverage, potentially setting Ether up for a follow-up move to $4,000. Ether’s (ETH) futures and spot markets are sending mixed signals as futures positioning builds, but the altcoin’s price fails to make new highs. Data suggested that ETH traders are adding to their exposure even as spot buying underpins the recovery. Key takeaways: Ether’s estimated leverage ratio fell to 0.67 by Sunday from an all-time high of 0.79 on Jan. 2, despite rising open interest. Read more
With Bakkt's share price surging following the announcement, the stock deal could be worth about $178 million. Cryptocurrency infrastructure platform Bakkt Holdings announced an agreement to purchase Distributed Technologies Research, a stablecoin and fiat payments infrastructure provider. In a Monday notice, Bakkt said the agreement will have the company issue more than nine million shares of its Class A common stock to Distributed Technologies Research shareholders. At the time of publication, the price of shares of Bakkt Holdings (BKKT) on the New York Stock Exchange was $19.54, having surged more than 20% in the previous 24 hours, which would would make the deal worth more than $178 million. “The acquisition will allow Bakkt to consolidate a critical piece of its stablecoin settlement infrastructure and prepares the company to launch its neobanking strategy with multiple distribution partners in the coming months,” said Mike Alfred, the director and member of the special committee of Bakkt’s board. Read ...
Bitcoin whales sold $286 million of BTC in January, but a slowdown in the distribution and accelerating bullish momentum could send BTC to $100,000 before the end of the month. Bitcoin (BTC) onchain data shows BTC whales are active as the price attempts to extend its breakout from the $90,000 level. Key takeaways Bitcoin whale spending surged to $286 million, the largest spike since early November. Read more
The funding will support expansion of enterprise payment and settlement services across Latin America, the United States and Asia. VelaFi, a stablecoin-based financial infrastructure company under Galactic Holdings, has raised $20 million in a Series B round to support the expansion of its enterprise payments and settlement services across Latin America, the United States and Asia. According to Monday’s announcement, the round was led by XVC and Ikuyo, and brings the company’s total funding to more than $40 million. Founded in 2020, VelaFi provides payments infrastructure that connects local banking systems, global transfer networks and stablecoin protocols. Its services include fiat on- and off-ramps, cross-border payments, foreign exchange workflows and multi-currency treasury operations, which are offered through its platform and via APIs. Read more