Web3 🌘 Thursday Focus: Bitcoin Bounces Back, PancakeSwap Enhances Governance, BlackRock Seeks Bitcoin ETF Approval, CoinGecko Expands into NFT Space
1/ 💵 Bitcoin Price Rebounds as Binance Settlement Eases Regulatory Concerns.
2/ 📢 PancakeSwap Unveils ‘Gauges’ Voting System.
3/ 🧐 BlackRock Seeks SEC Approval for Bitcoin ETF.
4/ 🚀 CoinGecko Expands into NFT Data with Zash Acquisition.
For further details, let's keep reading! 👇
Let's update today's crypto news!
The cryptocurrency market is seeing some positive developments, with Bitcoin rebounding above $37,000 and PancakeSwap introducing two new features to enhance governance influence for CAKE holders. BlackRock has also met with the SEC to discuss its spot Bitcoin ETF application, and CoinGecko has acquired Zash, a leading NFT data infrastructure and intelligence company.
Stay tuned for more detail!
1/ Bitcoin Price Rebounds as Binance Settlement Eases Regulatory Concerns. 💵
Bitcoin (BTC) surged above $37,000 on Wednesday, rebounding from a mid-week dip triggered by news of a $4.3 billion settlement between Binance, the world's largest cryptocurrency exchange, and U.S. authorities. The settlement, which includes a guilty plea from Binance founder and CEO Changpeng Zhao, is seen by some analysts as potentially paving the way for SEC approval of a spot bitcoin ETF.
Stephen Alpher
2/ PancakeSwap Unveils ‘Gauges’ Voting System. 📢
PancakeSwap, a decentralized exchange (DEX), has introduced two new features, Gauges Voting and veCAKE, to enhance governance influence for CAKE holders. Gauges Voting allows veCAKE holders to vote on how CAKE emissions are distributed to specific pools, while veCAKE is a new vote-escrowed system that gives users more voting power the longer they lock up their CAKE. These features are designed to boost liquidity across PancakeSwap's pools and increase rewards for CAKE stakers.
Hassan Shittu
3/ BlackRock Seeks SEC Approval for Bitcoin ETF. 🧐
BlackRock met with the U.S. Securities and Exchange Commission (SEC) to discuss its spot Bitcoin exchange-traded fund (ETF) application. The meeting focused on the fundamentals of how the investment vehicle would work and whether an “in-kind redemption model” or “in-cash” one would be best for investors.
Grayscale Investments also met with the SEC over its bid to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. A spot Bitcoin ETF would allow ordinary investors who want exposure to the cryptocurrency to buy shares that track the price of the asset.
Mat Di Salvo
4/ CoinGecko Expands into NFT Data with Zash Acquisition. 🚀
In a significant move, CoinGecko has acquired Zash, a leading NFT data infrastructure and intelligence company. This acquisition marks CoinGecko's first-ever and signals its expansion into the NFT data sphere. Zash's extensive NFT data coverage, encompassing metadata, historical trades, lending data, and wash trading detection algorithms, will be integrated into CoinGecko's existing cryptocurrency data API offerings. This move aligns with CoinGecko's vision of a tokenized future and its commitment to delivering comprehensive and accurate crypto data. The acquisition is expected to enhance CoinGecko's position as a one-stop shop for all crypto-related data needs and solidify its leadership in the crypto data landscape.
Haseeb Shaheen
Conclusion:
The cryptocurrency market is exhibiting signs of resilience and adaptability, as evidenced by Bitcoin's price recovery, PancakeSwap's governance enhancements, BlackRock's pursuit of a spot Bitcoin ETF, and CoinGecko's foray into the NFT data realm. These developments underscore the growing maturity and potential of the crypto landscape, paving the way for broader adoption and mainstream integration.
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