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  • Crypto Alpha, 13 March 2024

Crypto Alpha, 13 March 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR: VanEck offers zero fees for Bitcoin ETF; MakerDAO plans Endgame launch; Bloomberg analysts estimate 30% likelihood of Ethereum ETF in May; Patient Capital eyes 15% investment in Bitcoin ETF; El Salvador holds $84M in Bitcoin profits; Cat-themed memecoins and AI tokens see significant gains; OKX gets approval for MPI license in Singapore; MetaMask tests blockchain-powered payment card; El Salvador reduces income tax on remittances; Solana hits all-time high in daily new addresses.

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Alpha of the Day

VanEck Offers Zero Fees for Bitcoin ETF Until March 31st 2025

VanEck has announced zero fees for its Bitcoin ETF product until March 31st, 2025, aiming to attract more investors to its offering. This move could significantly impact the competitiveness of the Bitcoin ETF market and drive further adoption among investors.

MakerDAO Plans First Phase of Endgame Launch in Summer

MakerDAO is gearing up to launch the first phase of its Endgame initiative during the summer months. This milestone marks a crucial step in the evolution of MakerDAO's decentralized finance ecosystem, potentially bringing new functionalities and improvements to the platform.

Bloomberg Analysts Estimate 30% Likelihood of Ethereum ETF in May

Bloomberg analysts have assessed the likelihood of an Ethereum spot ETF being approved in May at 30%. Regulatory approval of an Ethereum ETF could open up new avenues for investors to gain exposure to the second-largest cryptocurrency by market capitalization.

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Patient Capital Seeks to Invest 15% of Net Assets in Bitcoin ETF

Patient Capital has applied to allocate 15% of its net assets to invest in a spot Bitcoin ETF. This move reflects growing institutional interest in Bitcoin as a legitimate asset class and demonstrates confidence in the long-term potential of cryptocurrency investments.

El Salvador Holds $84M in Profits from Bitcoin Holdings

El Salvador has accumulated $84 million in profits from its Bitcoin holdings, highlighting the success of the country's decision to adopt Bitcoin as legal tender. These profits could contribute to the nation's economic development and bolster its position in the global cryptocurrency market.

Cat-Themed Memecoins and AI Tokens See Significant Gains

Cat-themed memecoins and AI tokens have experienced substantial gains in the recent cryptocurrency rally. These niche tokens attract attention from retail investors and often capitalize on internet trends and novelty factors to drive price appreciation.

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OKX Receives In-Principle Approval for Large Payment Institution License in Singapore

OKX has received in-principle approval for the Large Payment Institution License (MPI) from the Monetary Authority of Singapore. This regulatory milestone positions OKX to expand its services and offerings in the Singaporean market, enhancing its credibility and accessibility to users.

MetaMask Tests Blockchain-Powered Payment Card with Mastercard

MetaMask is testing the first blockchain-powered payment card in collaboration with Mastercard. This initiative aims to bridge the gap between traditional finance and decentralized finance, providing users with more seamless and versatile payment options.

El Salvador Votes to Reduce Income Tax on Remittances to 0%

El Salvador has voted to reduce income tax on remittances and international investments from 30% to 0%, incentivizing foreign investment and promoting economic growth. This tax reduction aligns with the country's pro-cryptocurrency stance and efforts to attract investment from abroad.

Daily New Addresses on Solana Reach All-Time High

The number of daily new addresses on the Solana blockchain has reached an all-time high, indicating growing interest and adoption of the platform. This milestone underscores Solana's scalability and potential to become a leading blockchain network for decentralized applications and token issuance.

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