Bitcoin recently experienced a sharp pullback after briefly touching the $70,000 mark. The price surge was initially driven by increased accumulation and positive market sentiment, but it encountered significant resistance around $70,000* due to large sell orders on major exchanges like Binance and OKX.

The cryptocurrency market witnessed a historic event with the launch of spot Ethereum ETFs, which saw more than $1 billion in trading volume on their first day.

BetterX presents an exclusive opportunity to participate in a financial revolution poised to reshape the next century. Our mission is to democratize access to high-value assets by tokenizing them into smaller digital units that can be easily and widely traded.

The Australian ETF market has reached a remarkable milestone, surpassing $200 billion, driven by an impressive 36% growth over the past year. This surge reflects increased investor confidence and a broader diversification of investment products, notably marked by the introduction of VanEck's first Bitcoin ETF. For wealth managers, this growth presents diversified opportunities that align with investor preferences for dynamic asset classes, enhancing client satisfaction and retention.

The financial landscape is undergoing a seismic shift, and at the forefront of this transformation is the integration of digital assets, particularly cryptocurrencies, into wealth management. As the world becomes increasingly digital, the role of wealth managers is evolving to include these innovative assets.

The cryptocurrency landscape is rapidly evolving in 2024, driven by significant trends that offer substantial benefits to investors, including enhanced confidence, increased liquidity, and diversified investment opportunities. Here are the top four trends and their implications for BetterX.

Digital Asset Headlines This Week

Hong Kong Spot Bitcoin ETFs: Hong Kong approved its first spot Bitcoin and Ethereum ETFs in April, a significant step towards mainstream adoption of cryptocurrencies. This move is expected to attract more institutional investors to the crypto market, potentially leading to increased liquidity and price stability for Bitcoin.

EY's Blockchain Tool: EY has launched an Ethereum-based blockchain tool aimed at simplifying business agreements, highlighting the growing acceptance of blockchain technology in traditional industries. This tool has the potential to revolutionize contract management processes, reducing costs and increasing efficiency for businesses.

Digital Asset Headlines This Week

• Bitcoin Rebounds to $70K, Shrugging Off Hot U.S. Inflation Print. Major U.S. equity indices closed the day lower after disappointing CPI numbers, while BTC was up 1%.

• Silk Road Bitcoin Worth $2B Moved by U.S. Government: On-Chain Data. The last confirmed government sale was just more than a year ago.

• Hong Kong is set to approve its first spot bitcoin ETFs in April, sources say - Reuters

• Bitcoin long-term holders begin to ease off profit-taking: Glassnode - The Block

• Ripple, developer behind XRP Ledger, enters stablecoin fray versus Tether, USDC - Coindesk

Major Crypto Highlights

• Bakkt Faces NYSE Delisting - Crypto custody and trading platform Bakkt receives a warning from the NYSE for failing to maintain its share price above $1 for 30 days.

• Dogecoin Soars on Musk’s Nod - Following billionaire Elon Musk’s endorsement, Dogecoin experiences significant gains, suggesting it may become a future Tesla payment method.

• Coinbase Plans $1B Bond Offering - Coinbase, a leading cryptocurrency exchange, announces its intention to raise $1 billion through a convertible bond offering, targeting qualified institutional buyers. The funds raised will be allocated towards various corporate purposes.

BetterX Recap: Updates this weeks Crypto News – 06 Mar 2024

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The BetterX Trading Desk is pleased to share this week's crypto market update.

Major Crypto Highlights

• Bitcoin price briefly tops AUD $105,024 (USD $69,200) for new all-time high and shrugging off high interest rates.

• Bitcoin ETF, record volumes lead to second-best weekly inflows. $1.7 billion of net inflows last week — second only to the week spanning Feb. 12 to Feb. 16, during which that number eclipsed $2.2 billion.

• The rate of crypto ownership by women has surged from 18% a year ago to 29% at the start of 2024.

• 21% of non-owners said the anticipated Bitcoin ETF makes them more likely to invest in cryptocurrency.

BetterX Recap: Updates this weeks Crypto News – 20 Feb 2024

The BetterX Trading Desk is pleased to share this week's crypto market update.

Major Crypto Highlights

• Franklin Templeton Investments Files for Spot Ethereum ETF. Franklin Templeton’s decision to enter the Ethereum ETF race puts it in competition with seven other providers vying to introduce similar products to the market. Notably, both BlackRock and Fidelity, key players in the space, have seen substantial asset growth in their spot Bitcoin ETFs, with assets totaling $4.18 billion and $3.49 billion, respectively.

• Peter Thiel's Founders Fund invested $200 million in Bitcoin and Ether in the previous year, as reported by Reuters.

• BTC's open interest in USD terms has exceeded $11 billion for the first time since December 2021.

BetterX Recap: Updates this weeks Crypto News – 13 Feb 2024

The BetterX Trading Desk is pleased to share this week's crypto market update.

Major Crypto Highlights

• German Banking Group Initiates Pilot Phase for Crypto Trading One of Germany's leading banking groups, comprising over 700 local banks, is set to kick off its crypto trading services, entering the initial phase of the project shortly.

• BlackRock's Bitcoin ETF Surpasses Grayscale in Trading Volume BlackRock's Bitcoin ETF has outpaced Grayscale in terms of trading volume, signaling a noteworthy shift in the competitive landscape among US Bitcoin funds.

• Biden Administration Enforces Reporting Rules for Crypto Miners The Biden Administration introduces new reporting obligations for U.S. cryptocurrency miners, mandating the disclosure of electricity consumption data to address environmental concerns.

• Bitfinex Introduces Securities Trading Platform in El Salvador Bitfinex debuts a registered and licensed securities trading platform in El Salvador, becoming the country's inaugural recognised digital assets service provider.

Exciting Plans for 2024:

As we step into 2024, BetterX is poised for unprecedented growth and innovation.

We are excited to bring forth ground-breaking solutions that will shape the future of digital assets, web3, and blockchain landscape.

To kick off the year, BetterX is capitalising on key market movements which support its business model and growth plans for 2024.

USD Coin (USDC) is an ever-evolving stablecoin designed to offer both convenience and stability. When you're new to the crypto space, understanding how USD Coin works can be crucial to navigating its volatility. We'll explore USD Coin's purpose, creation, and mechanisms that make it a reliable option for crypto enthusiasts.

Since Bitcoin's inception in 2009, it's taken the financial world by storm, becoming a digital gold despite its low value. Created by Satoshi Nakamoto, Bitcoin is a decentralised digital currency that operates on blockchain. Over the years, it has gained significant traction and emerged as a viable investment option for individuals and institutions.

Ethereum (ETH) stands out as a pioneering force in the realm of cryptocurrencies, offering more than just a digital currency. In this article, we'll delve into the core concepts of Ethereum, exploring its decentralized nature, smart contracts, and its ambition to revolutionize the way we interact with digital assets.

In the ever-evolving world of finance, technology continues to shape and redefine the landscape. The tokenisation of private loans appears to be one of the most promising innovations on the horizon.

In an increasingly digital world, traditional financial systems are undergoing a revolution. This economic transformation is driven by securitisation and real world asset tokenisation, which offer innovative solutions for asset management, investment, and liquidity.

Bitcoin remains the pioneer and most widely recognised digital asset in the ever-evolving cryptocurrency world. Bitcoin halving is one of the key elements that sets it apart, an event that might seem complex at first glance.

As Polygon (MATIC) network inches closer to the release of Polygon zkEVM and the possible rebranding of its main token to POL, its team adds more and more use cases to its portfolio of "real-world" applications of blockchain technology.