Crypto News Today:Bitcoin Holds While FET and AGIX Skyrocket

Cryptocurrency market cap fell by 0.40% to $2.50 trillion

• VanEck's Bitcoin ETF has started trading on the Australian Stock Exchange (ASX), marking a milestone with an initial funding of 985,000 AUD.

• Ilya Sutskever, former OpenAI Chief Scientist, launches Safe Superintelligence, focusing on AI development.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Indicator shows a current sentiment of 60 (Greed), down from 64 yesterday and 74 last week.

Crypto currency saw a surge in trading over the past 24 hour

TOP 5 Gainers Coins

Latest Market Update: 

• #Bitcoin ($BTC), the oldest and most valued cryptocurrency, failed to rise above $66,000 early Wednesday.

• Popular altcoins, including #Fetch.ai ($FET), #SingularityNET ($AGIX), #Akash Network ($AKT), #Ondo ($ONDO), and #Sui ($SUI), landed in the green.

• #Fetch.ai ($FET) was the biggest gainer with a 24-hour jump of nearly 24%.

• #JasmyCoin ($JASMY) was the biggest loser with a 24-hour dip of over 7%.

• The total crypto market volume over the last 24 hours is $57.1B, a 35.78% decrease.

• The total volume in DeFi is currently $4.75B, 8.31% of the total crypto market 24-hour volume.

• The volume of all stablecoins is now $52.44B, 91.85% of the total crypto market 24-hour volume.

• Bitcoin’s dominance is currently 54.13%, a decrease of 0.03% over the day.

Major Worldwide News Update:

• Former OpenAI leaders Ilya Sutskever and Daniel Levy, along with investor Daniel Gross, have founded Safe Superintelligence, Inc. The company, based in Palo Alto and Tel Aviv, aims to advance AI safety and capabilities concurrently, free from short-term commercial pressures, with a focus on artificial general intelligence (AGI).

• VanEck's Bitcoin ETF debuts on Australia's ASX, marking the country's first such listing. It starts trading with A$985,000 in funding, serving as a feeder fund for the US-based VanEck Bitcoin Trust. DigitalX Ltd. and BetaShares plan future ETF listings, amid growing interest in crypto ETFs in the Asia-Pacific region, including Hong Kong and South Korea.

• Binance challenges Canada's $4.4 million fine from FINTRAC in court, citing operational exit plans and lack of targeting Canadian residents. The exchange faces global regulatory scrutiny, including a recent $4.3 billion settlement in the US and operational challenges in Nigeria, despite winning dismissal of charges there.

• Vitalik Buterin highlights Ethereum's commitment to privacy and decentralization through projects like Farcaster and Lens Protocol, leveraging technologies such as zero-knowledge proofs (ZKPs). He advocates for innovative funding models like quadratic funding and retroactive support, contrasting them with the popularity of meme coins, emphasizing Ethereum's substantive contributions to DeFi and decentralized social networks.

• CertiK, a blockchain security firm, disclosed it identified a vulnerability to Kraken, leading to a dispute over funds. Kraken accused CertiK of extortion, while CertiK claims it acted transparently to protect users and plans to return the funds. The incident sparked debate in the crypto community over ethical hacking practices.

• Circle faces SEC scrutiny ahead of its IPO, concerning disclosures about USDC's status as a security. The SEC's extended review could lead to fines, stricter regulations, and potential reclassification for Circle and its stablecoin. Circle's relocation to the US underscores its commitment amid regulatory challenges.

COIN GABBAR Views: What does the future hold for Bitcoin as bearish sentiment intensifies, struggling at $65k? Is the recent price plunge to $60k linked to a hedge fund exodus and $1.2 billion BTC sell-off by whales? With Bitcoin's month-long rally ending abruptly below $65,000, what's the next move for BTC? To get latest news Stay tuned us at coingabbar

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Also Read: Good News For Ethereum, SEC Ends The Investigation