Latest news with #VOOI
Daily Mirror
3 days ago
- Business
- Daily Mirror
Bitcoin price soars to new record high above $124,000 as Ethereum also surges
Bitcoin reached a new all-time high (Image:) Bitcoin soared to a fresh all-time high above $124,000 (£91,000) during early Thursday trading, continuing a week-long surge that has boosted the wider cryptocurrency market. Being first of its kind, Bitcoin acts according to free-market theory and was invented in 2008. Since then, the cryptocurrency is now predicted to hold 800,000 individual owners, according to Yahoo! Finance. The price of BTC- USD reducing to around $121,700, following the rally, the world's largest cryptocurrency has now climbed more than 6% over the past week, smashing through its previous July record of just over $120,000. Will K, VOOI CEO and Symbiosis Finance co-founder, said: "Bitcoin's latest rally reflects the blurring lines between crypto and traditional assets, happening faster than institutional adoption timelines predicted. "While ETFs brought institutions into bitcoin, retail traders are returning to evolved decentralised platforms that have shed their clunky origins." In comparison, Yahoo! Finance reports coin Ethereum (ETH-USD) outperformed Bitcoin in percentage terms, leaping 28% over the past seven days to trade above $4,742, edging nearer to its November 2021 peak of $4,865. WHATSAPP GROUP: Get money news and top deals straight to your phone by joining our Money WhatsApp group here. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. NEWSLETTER: Or sign up to the Mirror's Money newsletter here for all the best advice and shopping deals straight to your inbox. Bitfinex' Head of Derivatives, Jag Kooner, stated: "Ethereum's rally is being driven by strong ETF [(exchange traded fund)] inflows, institutional accumulation, and a favourable macro backdrop after softer CPI [(consumer price index)] data boosted rate-cut expectations." He went on, saying: "Traders have rotated back into risk, with Bitcoin and Ether both seeing renewed long positioning, while options data shows low implied volatility and a build-up in open interest." He explained how this signalled to markets expectations of "a sharp move ahead - but hedging downside risk". The total cryptocurrency market value now stands at $4.23 trillion, with up 1.9% on Thursday August 7, according to CoinMarketCap data. This crypto rally coincides with US equities closing higher on Wednesday 13, with the S&P 500 (^GSPC) and Nasdaq (^IXIC) reaching new record highs this week. This broader risk-on sentiment has spilled over into digital assets. Bitcoin's surge has been bolstered by a more welcoming regulatory environment in Washington. Earlier this month, US president Donald Trump signed an executive order instructing federal banking regulators to eliminate "reputational risk" as a factor in supervision, a designation that had often led banks to sever ties with lawful crypto firms. This move, part of a wider rollback of restrictions critics labelled "Operation Choke Point 2.0," has been paired with the disbanding of the Justice Department's National Crypto Enforcement Team and new legislation to establish a federal framework for stablecoins. Industry leaders have stated that this shift is paving the way for greater institutional participation in digital assets, adding momentum to bitcoin's rally. Note that at the time of writing this article, the cryptocurrency valued at $119,703.12, according to CoinMarketCap.
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin price hits record high above $123,500 amid crypto rally
Bitcoin (BTC-USD) surged to a new all-time high above $123,500 (£90,984) in early Thursday trading, extending a week-long rally that has lifted the broader cryptocurrency market. Bitcoin briefly traded at $123,512 before easing back to around $121,700. The world's biggest cryptocurrency is now up more than 6% over the past week, breaking through its previous July peak of just over $120,000. Read more: Crypto live prices 'Bitcoin's latest rally reflects the blurring lines between crypto and traditional assets, happening faster than institutional adoption timelines predicted,' VOOI CEO and co-founder Will K said. 'While ETFs brought institutions into bitcoin, retail traders are returning to evolved decentralised platforms that have shed their clunky origins.' Ethereum (ETH-USD) outpaced bitcoin in percentage gains, jumping 28% over the past seven days to trade above $4,742, inching closer to its November 2021 record of $4,865. 'Ethereum's rally is being driven by strong ETF inflows, institutional accumulation, and a favourable macro backdrop after softer CPI data boosted rate-cut expectations,' Bitfinex head of derivatives Jag Kooner said. 'Traders have rotated back into risk, with bitcoin and ether both seeing renewed long positioning, while options data shows low implied volatility and a build-up in open interest, signalling that markets expect a sharp move ahead but are hedging downside risk.' The total cryptocurrency market capitalisation now stands at $4.23tn, up 1.9% on Thursday, according to CoinMarketCap data. The crypto rally comes as US equities closed higher on Wednesday, with the S&P 500 (^GSPC) and Nasdaq (^IXIC) hitting fresh record highs this week. The broader risk-on sentiment has spilled over into digital assets. Read more: One US law reshaped crypto overnight. Ripple explains why Bitcoin's surge has been underpinned by a friendlier regulatory climate in Washington. Earlier this month, US president Donald Trump signed an executive order directing federal banking regulators to scrap 'reputational risk' as a factor in supervision, a designation that had often led banks to cut ties with lawful crypto firms. The move, part of a broader rollback of restrictions critics dubbed 'Operation Choke Point 2.0,' has been coupled with the disbanding of the Justice Department's National Crypto Enforcement Team and new legislation to establish a federal framework for stablecoins. Industry leaders have said the shift is clearing a path for greater institutional participation in digital assets, adding momentum to bitcoin's rally. Read more: Why pension funds are buying bitcoin What is a spot bitcoin ETF and why has it sparked a crypto rally? How AI could change the internet
Business Insider
01-08-2025
- Business
- Business Insider
Falcon Finance Has USDf Listed on VOOI's Omnichain Perps and RWA Exchange
Synthetic dollar protocol Falcon Finance has announced that USDf has been listed on VOOI's omnichain perps and RWA exchange. The stablecoin can be used as a base currency for trading a range of real-world assets on VOOI, adding further utility to USDf and unlocking new opportunities for its holders. The listing of USDf on VOOI's perps and RWA marketplace will deepen the stablecoin's liquidity and expand global access. It can now be utilized on VOOI to trade US markets including $TSLA and $GOOG alongside other stocks and RWA assets. In addition, VOOI has revealed plans to integrate a USDf earn feature into its app, unlocking additional opportunities for holders to earn yield on their assets. VOOI's perpetual DEX aggregator supports both EVM and non-EVM networks, using account abstraction to simplify leveraged trading across chains. It supports more than 200 markets and has generated over $10B in lifetime volume. By incorporating crypto, stocks, indices, and commodities into a single application, VOOI gives onchain traders access to a broad spectrum of assets. The integration of USDf into VOOI follows a $10M strategic investment in Falcon Finance from World Liberty Financial, developer of the USD1 stablecoin. The funding will accelerate Falcon's technical integrations, with a focus on shared liquidity provisioning and multi-chain compatibility. Falcon has committed to developing smart contract modules that support seamless conversion between USDf and USD1. In addition, USD1 has been added as collateral on Falcon, expanding the range of stablecoins it holds in its treasury. USDf is rapidly becoming a versatile, multi-purpose asset as the number of DeFi integrations and exchange listings grows. On V2 of VOOI's perps DEX aggregator, it will serve as a stable unit of account, allowing users to trade a broad range of real-world assets within a non-custodial framework. The total supply of USDf has risen sharply over the past month, almost doubling to reach $1.1B, backed by a TVL of $1.2B that includes BTC, altcoins, and stablecoins such as USD1. In the past week, Falcon has launched a Transparency Dashboard providing full transparency into the assets backing USDf. This displays a detailed breakdown of USDf reserves by asset type, custody provider, and the percentage held onchain. Demand for USDf has been driven by a string of integrations and listings including VOOI, coupled with heightened interest in the opportunities to earn yield through staking the stablecoin. sUSDf, the yield-bearing version of USDf, provides stakers with a variable APY that currently stands at 12.8%. Contact Managing Partner
