The Uniswap Foundation, backers of the decentralised finance (DeFi) protocol Uniswap, have revealed the launch date for the protocol’s v4 subsequent to the forthcoming Dencun upgrade on Ethereum.
In a statement on X, the foundation shared a roadmap outlining its intentions for the forthcoming rollout.
The organisation emphasised that it is presently in the “Code Freeze” phase, where it is finalising core code, conducting testing, optimising gas, enhancing security, and completing peripheral tasks.
The launch of Uniswap v4 is provisionally scheduled for Q3 2024.
Following this, the Uniswap Foundation team will engage audit firms and hold a community audit contest to review v4’s code.
The team is confident that Uniswap v4 will feature the “most rigorously audited code ever deployed on Ethereum.” Concurrently, the decentralised exchange will be deployed to the testnet as final adjustments are made.
As per the Uniswap Foundation, the third phase will see Uniswap v4 go live on the Ethereum mainnet in the third quarter of 2024.
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The organisation noted that this is a tentative date, contingent upon the status of the impending Dencun upgrade on Ethereum.
As previously reported by Cointelegraph, the Ethereum network’s Dencun upgrade was activated on the Goerli testnet on Jan. 17.
The upgrade introduces various Ethereum Improvement Proposals (EIPs), including EIP-4844, which enables proto-danksharding, a feature aimed at reducing layer2 transaction fees.
The Goerli deployment for the Dencun upgrade experienced a four-hour delay. Nonetheless, the upgrade’s deployment on the Sepolia testnet — the second of three Ethereum testnets — was completed without incident on Jan. 31.
Subsequent to the second testnet, the Dencun upgrade concluded the third phase of testing following its deployment to the Holesky testnet on Feb. 7.
On Feb. 8, Ethereum developer Tim Beiko announced that the upgrade is scheduled for the mainnet at “slot 8626176.” Blockchain research firm Nethermind noted that this will occur on March 13, 2024, at 1:55:35 pm UTC.
The date was established by Ethereum developers in a call on Feb. 8, subsequent to the successful deployment to the Holesky testnet.
Cash-strapped crypto firm Bakkt has announced it has received regulatory approval to raise up to $150 million through the sale of its securities, just a week after expressing concerns about its financial position.
On 14th February, the company stated it had obtained approval for a “shelf registration,” also referred to as a shelf offering – a procedure where a company registers a new issuance of securities with the United States Securities and Exchange Commission (SEC) that can be gradually sold over a period without requiring separate approval each time.
Bakkt stated that this approval would enable it to raise an aggregate of $150 million in capital through one or more offerings over a span of three years.
“Bakkt believes the flexibility of a shelf registration on Form S-3 will provide the Company with significant benefits when raising capital in the future,” the company said.
Bakkt, previously hailed as Bitcoin’s “saviour” during the 2018 bear market, disclosed on 7th February that it was facing a cash shortage and thus “might not be able to continue.”
At that time, Bakkt mentioned its intention to potentially raise additional capital by issuing its registered securities in the public markets to “fund our long-term vision.”
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Since being publicly listed in October 2021, the firm has reported eight consecutive quarters of net losses.
According to company financials, despite the crypto market’s recovery from a challenging 2022, the firm incurred losses of $44.9 million, $50.5 million, and $51.7 million in the first three quarters of 2023.
Net losses decreased in 2023 after the firm reported significant losses of $1.59 billion and $323.9 million in the third and fourth quarters of 2022, respectively.
The firm has recorded a total of $2.26 billion in net losses since the fourth quarter of 2021.
Bakkt operates a digital asset trading platform for institutions and has established strategic partnerships with companies such as Starbucks and Amazon Web Services to facilitate digital asset transactions and services.
Founded in 2018 by Intercontinental Exchange, the U.S.-based firm that owns the New York Stock Exchange, Bakkt saw its share price rise by 7.8% to $1.03 before the news.
However, it remains more than 51% down in 2024.
Although its share price reached over $42 on 29th October 2021, it sharply declined to $3.61 the following January and has since been steadily declining.
Shares in cryptocurrency exchange Coinbase have surged by 37% in the past week, riding the wave of a recent upswing in Bitcoin prices.
Analysts anticipate robust performance as the company prepares to unveil its fourth-quarter results on Thursday.
MarketWatch and FactSet’s aggregated data reveals a consensus among analysts, foreseeing a substantial revenue increase for Coinbase in Q4.
Projections suggest a rise of approximately 22% from Q3, reaching $825 million.
The surge in revenue is expected to be fuelled by heightened trading volumes.
Analysts estimate a near doubling from $76 billion in Q3 to $142.7 billion in Q4.
Coinbase is also expected to report a fourth-quarter earnings-per-share of $0.02, marking a turnaround from the $0.01 loss per share reported in the preceding quarter.
This surge coincides with Bitcoin’s price rise of 16.3% over the past week, as reported by Coinmarketcap.
On February 13, competitor Robinhood announced a 24% year-on-year increase in Q4 revenue, driven in part by a surge in cryptocurrency trading revenue, which amounted to $43 million, up 10% year-on-year.
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Despite these positive indicators, some remain cautious about Coinbase’s future performance in 2024.
JPMorgan analysts, in a note to investors on January 22, predicted a decline in Coinbase’s share price, citing concerns about the lacklustre performance of spot Bitcoin ETFs trading.
However, recent data indicates an uptick in Bitcoin ETF flows, with BlackRock’s IBIT alone generating $493 million in inflows on February 13.
Coinbase, serving as custodian for eight of the top 10 spot Bitcoin ETF providers, including BlackRock and iShares, stands to benefit from this resurgence.
The ongoing lawsuit with the United States Securities and Exchange Commission (SEC) poses another challenge for Coinbase.
Nevertheless, crypto lawyer James Murphy, also known as “MetaLawMan,” remains optimistic about Coinbase’s prospects, expressing confidence that the SEC will lose the case.
Coinbase shares are currently up 14% for the day, buoyed by a broader rally in the cryptocurrency sector, highlighted by Bitcoin’s surge above $50,000 on February 13.
Gold-tracking exchange-traded funds (ETFs) in 2024 have witnessed significant outflows, amounting to billions, in stark contrast to ETFs tracking the spot price of Bitcoin.
As per an X post from Bloomberg intelligence analyst Eric Balchunas on Feb. 14, the foremost gold ETFs have encountered outflows totaling $2.4 billion thus far in 2024.
Only three among them have experienced marginal inflows this year: VanEck Merk Gold Shares, FT Vest Gold Strategy Target Income ETF, and Proshares UltraShort Gold.
Notably, the most substantial outflows emanated from BlackRock’s iShares Gold Trust Micro and iShares Gold Trust, with $230.4 million and $423.6 million exiting, respectively.
Conversely, the ten sanctioned spot Bitcoin ETFs have garnered cumulative inflows of $3.89 billion and registered unprecedented volume since their inception on Jan. 11, according to preliminary data from Farside.
Commenting on the trend, portfolio manager Bitcoin Munger remarked, “Not only is Bitcoin sucking up funds, but gold is hemorrhaging AUM at an alarming rate across many ETFs.”
Balchunas, however, opined that the migration of gold ETF investors to Bitcoin ETFs wasn’t necessarily prevalent, suggesting it could be attributed to “US equity FOMO” instead.
Bitcoin pioneer Jameson Lopp shared a chart comparing the performance of the two ETFs, raising questions about the stance of gold investor and Bitcoin detractor Peter Schiff.
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The disparity has been exacerbated by the decline in gold prices throughout 2024. The precious metal has depreciated by 3.4% since the year’s commencement, reaching a two-month low of $1,993 per ounce on Feb. 14.
Meanwhile, Bitcoin prices have surged by 23.5% over the same period, hitting a two-year high of $52,483 on Feb. 14.
In a report released earlier in February, the World Gold Council highlighted global gold ETF outflows and a “reduction in speculative positioning” as significant factors contributing to gold’s subdued performance.
It also noted that “Long-term Treasuries and the US dollar, on the back of strong upside US economic surprises, were also headwinds.”
While Bloomberg senior commodity strategist Mike McGlone had previously forecasted gold outperforming Bitcoin in 2024, current observations suggest otherwise.
Bitcoin and gold, often compared for their shared store of value attributes, have historically been favoured investments during economic and geopolitical uncertainties.
Bitcoin surged to new two-year highs on February 14, delighting enthusiasts with a Valentine’s Day surprise.
Data from Cointelegraph Markets Pro and TradingView revealed a robust rebound in BTC prices from the previous day’s lows of $48,400.
During the Asian trading session, Bitcoin not only recovered from a sudden 4% decline but also soared to long-term highs, aiming for $52,000 at the time of writing.
Typical bullish behaviour saw BTC/USD gaining $1,000 within a single hourly candle, while the overall crypto market capitalisation approached the $2 trillion mark with Bitcoin’s surpassing $1 trillion.
Analysing the short-term setup, renowned trader Skew identified an ongoing reversal of resistance/support levels on the four-hour chart.
He highlighted key trendlines involving exponential moving averages (EMAs) and the relative strength index (RSI) score.
“I think so far this trend is fairly straightforward as long as the market sustains current bullish momentum,” he stated in part of his latest post on X (formerly Twitter).
“4H EMAs will provide nice & concise trend confirmations along with RSI for momentum with current trend, as well when its clear current momentum is lost.
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Key closes often with these trends are daily open & weekly open.”
On Binance, Skew additionally observed that spot buyer interest had anticipated institutional inflows via the United States spot Bitcoin exchange-traded funds (ETFs).
As reported by Cointelegraph, these ETFs continue to gain traction, with nine providers acquiring more BTC daily.
Taking a broader perspective, popular trader and analyst Rekt Capital suggested that events were unfolding in accordance with the classic bull markets for Bitcoin.
The timing of the BTC price resurgence towards all-time highs was “right on schedule,” he informed X followers this week.
Drawing parallels to 2020, Rekt Capital highlighted the cathartic impact of the block subsidy halving, with BTC/USD typically commencing a “pre-halving rally” two months in advance.
The next halving is anticipated in mid-April.
Solana-based meme token Bonk’s (BONK) experienced a 7% surge shortly after reports emerged suggesting the potential listing of the Solana-based meme token on Revolut’s trading platform.
According to a note from BonkDAO, the decentralized autonomous organization behind Bonk, a proposed collaboration aims to initiate a Bonk “Learn and Earn Campaign” to bolster the meme token’s user base by 500,000.
Revolut presently boasts 38 million users and holds a banking license across over 50 countries, as noted by BonkDAO.
This indicates that merely 1.3% of Revolut users need to be engaged to meet the set target.
Reportedly, Revolut users will be motivated to partake in the Learn and Earn campaign, with rewards totalling $1.2 million on offer.
Following this development, BONK’s price stands at $0.000025, marking a 7.2% increase within the past five hours and a 13.1% surge over a 24-hour period, as per CoinGecko.
BONK gained substantial attention in late 2023, witnessing a staggering 14,000% surge to $0.000025.
Despite a subsequent 60% decline from its peak, it remains one of the most traded meme tokens by volume.
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However, the campaign is pending official endorsement from BonkDAO. Presently, seven out of 12 Bonk voting members have voted in favour of the campaign, with one more vote required to achieve approval quorum.
No dissenting votes have been recorded yet, with the remaining five voters having four days to cast their vote.
If sanctioned, the Learn and Earn campaign will be executed in two phases.
The first phase will mark BONK’s debut on Revolut, focusing on fostering “organic growth” for the initial one to two months, followed by the launch of the Learn and Earn campaign.
Cointelegraph attempted to reach out to Bonk community members for their input but received no immediate response.
Meanwhile, speculations are rife regarding BONK’s potential listing on Robinhood, although no official confirmation has been made by either party.
Cointelegraph has reached out to Robinhood for comment.
Numerous crypto news sites, including CryptoNews.com – one of the largest crypto news sites in the world – have unknowingly promoted a fake Uniswap website that will drain users’ wallets once connected.
The scammers, going by the name Draek Chavva, reached out to several news sites, including CryptoIntelligence.co.uk, to enquire about publishing a press release.
The press release is titled Uniswap V4 Launch Paired with Generous $10 Million UNI Airdrop (2024), and it links to a fake Uniswap website – https://unisweoips.com/ – where users can allegedly take part in the $10 million airdrop.
However, instead of receiving tokens as part of the airdrop, the scammers will drain the wallets of anyone who connects to this spoof “Uniswap” website.
Over a dozen crypto news sites published this press release, with links to the fake Uniswap website.
Some sites, such as CryptoNews.com, have deleted the press releases that they published, but many PRs remain live on a multitude of websites as of the time of publishing this article.
Crypto holders are advised to be extremely careful about connecting their wallets to any website, even if it appears legitimate at first glance, as there are many spoof websites.
Countless Bitcoin price predictions for 2024 and 2025 indicate a very bullish scenario for BTC.
Bitcoin, the first and most well-known cryptocurrency, has seen a tumultuous journey since its inception in 2009. Its price has experienced dramatic fluctuations, reflecting a range of factors including investor sentiment, regulatory news, and changes in the broader financial ecosystem. As we look towards 2024 and 2025, Bitcoin price predictions are becoming increasingly important for investors trying to navigate the volatile crypto market.
The Factors Influencing Bitcoin Price Predictions
Before diving into specific Bitcoin price predictions for 2024 and 2025, it’s crucial to understand the factors that can influence its value. These include:
- Adoption Rates: As more businesses and consumers adopt Bitcoin for transactions, its value could increase due to heightened demand.
- Regulatory Environment: Regulations can have a significant impact on Bitcoin’s price. Positive regulatory developments can lead to price increases, while stringent regulations may have the opposite effect.
- Technological Advances: Innovations, such as improvements in blockchain technology, can enhance Bitcoin’s functionality and appeal, potentially boosting its price.
- Market Sentiment: Investor sentiment, often driven by news and social media, can cause sudden and dramatic price movements.
- Macroeconomic Factors: Global economic trends, including inflation rates and currency fluctuations, can influence Bitcoin’s attractiveness as an investment.
Bitcoin Price Prediction for 2024
Looking ahead to 2024, Bitcoin price predictions are mixed, reflecting the diverse views of analysts. Some experts are bullish, citing increasing adoption of cryptocurrencies and potential technological advancements as key drivers of growth. They argue that as Bitcoin becomes more mainstream, its price could soar, potentially reaching new all-time highs. On the other hand, skeptics point to regulatory uncertainties and the volatile nature of the crypto market as reasons for caution, suggesting that while growth is possible, it may be more moderate.
A consensus view among many analysts is that Bitcoin could experience significant growth in 2024, with prices possibly ranging between $50,000 and $100,000. This prediction assumes continued growth in adoption, particularly by institutional investors, and a favorable regulatory environment. However, it’s important to note that the crypto market is notoriously difficult to predict, and unexpected developments could lead to divergent outcomes.
Bitcoin Price Prediction for 2025
Looking further ahead to 2025, Bitcoin price predictions become even more speculative, given the additional uncertainty about future developments. However, many experts believe that the long-term outlook for Bitcoin is positive, citing the limited supply of Bitcoin and increasing interest from both retail and institutional investors as factors that could drive prices higher.
Some bullish forecasts suggest that Bitcoin could exceed $100,000 by 2025, driven by continued adoption and the perception of Bitcoin as a “digital gold” that can act as a hedge against inflation. Others, however, caution that Bitcoin’s price could be affected by technological challenges, competition from other cryptocurrencies, or changes in the regulatory landscape, which could limit its upside potential.
Navigating the Uncertainty
Investors considering Bitcoin as part of their portfolio should be prepared for volatility and uncertainty. While Bitcoin price predictions for 2024 and 2025 offer insight into potential future trends, they are based on assumptions that may or may not materialize. Therefore, a diversified investment strategy that includes a range of assets may help mitigate risk.
Summary
Bitcoin price predictions for 2024 and 2025 highlight the potential for significant growth but also underscore the inherent uncertainties in the cryptocurrency market. Factors such as adoption rates, regulatory developments, and global economic trends will play a crucial role in shaping Bitcoin’s trajectory.
Investors should stay informed, consider a range of viewpoints, and be prepared for both opportunities and challenges as the crypto landscape continues to evolve. Whether Bitcoin will reach the lofty heights predicted by some or encounter unexpected hurdles remains to be seen, but its journey will undoubtedly be closely watched by the financial world.
Hardware wallet provider Ledger and cryptocurrency exchange Coinbase have announced a partnership aimed at simplifying crypto purchases and facilitating the transfer of assets from exchanges to self-custody.
In a statement to Cointelegraph, the Ledger team emphasised that Coinbase’s on-ramp solution, Coinbase Pay, will be seamlessly integrated into the Ledger Live application.
This integration enables users to transfer their existing crypto holdings and conduct transactions directly from their desktop or mobile devices, with the added convenience of receiving crypto purchases directly on their Ledger devices.
Describing the previous process of moving crypto from an exchange to self-custody as “a cumbersome process that left users vulnerable to potential errors,” Ian Rogers, Chief Experience Officer at Ledger, remarked that before the collaboration, buying and transferring crypto was “a tedious process.”
However, Rogers expressed confidence that the integration has significantly simplified the process, likening it to the way travel agency Skyscanner simplified travel bookings.
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He elaborated, stating, “This integration makes it much easier for crypto users to buy through Coinbase and have the funds directly deposited to the secure self-custody of their Ledger.”
Addressing potential changes in the demand for self-custody, Rogers suggested that, similar to different bank accounts, there will be various wallet options.
He indicated that the collaboration with Coinbase demonstrates to consumers that they have a choice. Rogers further noted that the integration makes the experience more straightforward for newcomers to self-custody, affirming, “At the end of the day, you have the option to choose digital ownership through self-custody.”
According to the Ledger team, the crypto industry is entering a new phase driven by the recent introduction of spot Bitcoin exchange-traded funds (ETFs). Ledger anticipates that this development will attract new users to the crypto space.
While these users may initially engage with ETFs, Ledger hopes they will eventually opt for self-custody, which the wallet provider identifies as “the true use case for crypto.”
Solana’s SOL token has overtaken Binance’s BNB token to secure the position of the fourth-largest cryptocurrency by market capitalisation.
Over the span of 24 hours leading up to 1:50 pm UTC, SOL experienced a notable surge of 7.56%, reaching a trading value of $112.52, surpassing BNB.
According to CoinMarketCap data, SOL now boasts a market capitalisation of $49.36 billion, which is 1.74% greater than BNB’s $48.5 billion.
This rise in SOL’s price coincided with the Crypto Fear and Greed Index reaching its highest level since November 2021, when Bitcoin soared to $69,000.
Notably, this index surged a day after Bitcoin exceeded $50,000 for the first time since December 2021.
Despite encountering a network outage on February 6, SOL managed to outpace BNB.
The approval of the Pyth DAO Constitution on-chain likely served as a catalyst for this rally.
The proposal aimed to establish the Pyth DAO Constitution as the governing framework for the Pyth DAO, an autonomous organisation overseeing the Pyth Network.
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Despite the recent setback, SOL has gained 19.99% over the past seven days, albeit remaining 57% lower than its all-time high of $260.06, recorded on November 6, 2021.
Solana Mobile’s Chapter 2 smartphone garnered 100,000 pre-orders by February 12, within a span of less than 30 days.
In contrast, it took Solana nearly a year to sell 20,000 units of its inaugural Solana Saga smartphones.
Following this achievement, the pre-order window for purchasing the new Solana phone for $450 is set to close on February 14, as announced by Solana Mobile.
Shipments of the smartphones are expected to commence in early 2025.
Meanwhile, BNB has been grappling with challenges amid Binance’s regulatory issues.
On February 12, the sentencing date for Binance founder Changpeng Zhao was postponed from February 23 to April 30. Zhao, currently on a $175 million bond, is residing in the United States.