DeFi News Official Today TheBitTimes.com

Ordinals, this year’s incarnation of NFTs on Bitcoin, have enjoyed a slight resurgence in recent weeks. A bubbly launch peaked on May 7 of this year and quickly subsided, but now Bitcoin’s rally in November has renewed interest in Ordinals. Sniffing an opportunity for profit and prepared with months of practice since May, quant traders lurked. Their opportunity arrived this week at Magic Eden on Bitcoin, an NFT marketplace. They sniped millions. The most highly anticipated Ordinals project of the season, Ordibots, had announced its minting ceremony on the most prestigious Ordinals exchange, Magic Eden. A timeline for its launch was widely publicized. Requirements for whitelisting were extensive. Ordibots’ community discussions were vibrant. The minting ceremony had a tantalizing countdown, with buyers setting alarms to attend – ready to inscribe their NFT on-time. Collectors anticipated the mark-to-market capitalization of the collection to reach untold millions of dollars.  Or...

BTC price advances toward $35,000, potentially opening the door for ETH, APT, QNT and RUNE to move higher. Hopes of approval for a spot Bitcoin (BTC) exchange-traded fund by the United States Securities and Exchange Commission boosted Bitcoin’s price by 27% in October. This improved sentiment, attracting aggressive buying by crypto investors. Bloomberg senior ETF analyst Eric Balchunas highlighted in a post on X (formerly Twitter) that ProShares Bitcoin Strategy ETF (BITO), the first futures-based ETF to get regulatory consent in the U.S. in 2021, saw its second biggest trading week ever at $1.7 billion. Similarly, Grayscale Bitcoin Trust (GBTC) recorded a volume of $800 million. The sharp uptick in volume in the existing instruments shows that spot Bitcoin ETFs are likely to witness huge volumes when they see the light of the day. Crypto market data daily view. Source: Coin360 When the leader starts performing, it generally lifts the entire sector. That is seen in the strong perform...