Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
ETF flows remain top of mind for market observers and crypto investors alike as heavy inflows continue to impress, with BlackRock’s IBIT leading the way. Asby Bloomberg Intelligence Senior ETF Analyst Eric Balchunas, IBIT is “the newest member of the $10 Billion Club,” and was the “fastest ever to get there.”
Ryze Labs previously predicted that “the wave of GBTC redemptions by earlier investors would gradually diminish,” and “anticipated that it would take a few weeks for the ETF asset managers' sales and marketing efforts to fully ramp up, as evidenced by Fidelity Canada's recent recommendation for a 1-3% allocation into BTC last week.”
"The halving will lead to a supply shock, as the supply of BTC mined drops while the demand continues to grow ,” Aki Balogh, Co-founder and CEO of DLC.Link, told Kitco Crypto. “This is expected to sharply increase the BTC price.” “Previously reliant on BTC price appreciation, many miners now find it unfeasible to remain profitable at current electricity rates, with profitability typically above 12 cents per kWh but now dropping to above 6-8 cents per kWh,” he said. “Essentially, it takes double the amount of electricity to make the same amount of BTC. The rate stays the same, but miner profitability is halved. The halving tends to drive a supply shock, resulting in an increase in BTC price, but that's not guaranteed.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »