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Ethereum looks like it’s about to explode when 400,000 ETH leaves Coinbase

The string data shows that the Coinbase crypto switch took a 400,000 Ethereum pullback yesterday. This could be a sign of institutional investor activity and could result in a bullish currency.

Coinbase sees 400,000 ETH outputs

As reported in a CryptoQuant article, around 400,000 ETH (1.5 billion at the current exchange rate) were taken out of the Coinbase crypto swap yesterday.

The indicator used here is the Ethereum Outflow, which shows the total number of coins that come out of the stock exchange wallets.

When the metric shows a large increase, it means that a large amount of ETH has been removed from the exchange. Investors often withdraw many currencies to store or sell them through over-the-counter contracts.

Therefore, steady exits could mean that there is buying pressure in the market and investors are bullish on Ethereum.

Here is what the indicator chart looks like for the Coinbase encryption switch:

ETH exit showed big bullishness yesterday | Source: CryptoQuant

As the chart above shows, the Coinbase cryptocurrency exchange peaked at 400,000 Ethereum in outflows yesterday.

These large outflows could be a sign of activity on the part of institutional investors, as normal holders certainly won’t have as many currencies to move.

Related reading | Crypto Only: Crescent Lists Potential High Drivers for Bitcoin and Ethereum in Q4 2021

Institutional investors optimistic about ETH could mean big things for cryptocurrencies. If ETH is to take the next step, it will need a lot of money, which often means that whales, as well as institutional investors, need to get involved.

As these exits already indicate that institutional investors are pulling their currencies off the stock exchanges to possibly bail them out, the outlook for ETH looks optimistic.

Ethereum Price

As of this writing, the price of ETH is around $59.9K, a 9% increase over the past seven days. Over the past thirty days, encryption has accumulated 25% profit.

The following chart shows the currency price trend over the last five days:

ETH price rises to approach $4,000 bar | Source: ETHUSD on TradingView

ETH has given a big boost in recent days as the currency now approaches a test of the $4,000 mark. At the moment, it is unclear whether ETH can maintain that momentum and soon reach a new all-time high (ATH), or if it will fail again.

Related reading | TA: Ethereum follows Bitcoin, why ETH could go up to $4K

If exits are something to cross, the general sentiment appears to be bullish and institutional investors who get involved can help with the huge price that drives cryptocurrencies to break major resistance lines.

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Crypto Finserve Bakkt will be listed on the New York Stock Exchange Soon

Effective October 18, Bakkt’s common shares and warrants will be listed on the New York Stock Exchange under the symbols “BKKT” and “BKKT WS”, respectively.

Bakkt’s public listing is the result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special-purpose acquisition company. According to an official statement, a shareholders meeting on the merger had an approval of around 85.1% for the business combination:

"At closing, the Combined Company's Class A common shares and warrants shall commence trading on the New York Stock Exchange ("NYSE") under the symbols "BKKT" and "BKKT WS", respectively."

In addition, the business combination generated gross revenues of approximately $448 million for Bakkt, which is expected to be reinvested in developing the company’s capabilities and partnerships.

Last week, the Bakkt cryptocurrency exchange announced a partnership with Google to enable the purchase of goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay platform. According to Bakkt CEO Gavin Michael, the partnership “demonstrates Bakkt’s strong position in the digital asset market, to enable consumers to enjoy their digital assets in real time, with security and reliability.”

In March, Bakkt launched a payments app that allows users to make purchases using cryptocurrencies, before which the exchange offered BTC futures exclusively to accredited investors.

Related: US Legislator Proposes Safe Haven for Digital Tokens in New Bill

The adoption of cryptocurrencies by the general public in the United States is gaining more support from lawmakers as a new bill requires a safe haven for certain symbolic projects.

A new bill proposed by North Carolina House Representative Patrick McHenry, “Clarity for the Digital Tokens Act of 2021”, suggests amending the 1933 Securities Act that allows projects to offer tokens without registration for up to three years old.

The bill builds on an earlier initiative by SEC Commissioner Hester Peirce, in which she highlighted that “Safe Harbor may be the most revolutionary development for the US cryptocurrency market to date.”

Bakkt Holdings, the digital asset management arm of the Intercontinental Exchange (ICE), has announced that it will soon become a company listed on the New York Stock Exchange starting October 18th.

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Bitcoin hits $ 60,000 for first time since April after news of impending ETF approval

Bitcoin crossed the $ 60,000 mark for the first time since April 2021. The price was determined by reports suggesting that a Bitcoin futures ETF is expected to start trading in the United States next week.

Data from Cointelegraph Markets Pro indicates that Bitcoin prices have slowly risen since the start of this month. Before the bullish price action began, prices hovered around $ 42,000 from September 20 to October 1. The $ 60,000 mark was first crossed in Bitstamp’s wallet just after 5 a.m. (UTC) and Bitcoin is just 7% away from recovering its April 14 high of $ 64,804 .

Bloomberg reported today that sources familiar with the matter have issued positive indications that the Securities and Exchange Commission will likely approve a series of Bitcoin futures ETFs to start trading next week.

Rumors of the impending approval have seen a price increase of around $ 7,000 over the past 7 days, which equates to a 13% increase from $ 53,000 to $ 60,000. The strongest rise was seen over the past two days, during which Bitcoin rose from around $ 54,000 to our limit of $ 60,000.

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Coinbase Launches NFT Marketplace with Social Features to “Exponentially” Grow the Creator Community

The Coinbase cryptocurrency exchange is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company claims that “Coinbase NFT” will make “entering, buying, viewing and discovering NFT easier than ever”. Additionally, Coinbase said, “We will grow the creator community exponentially, a win for artists and fans alike.”

Coinbase NFT helps grow the creator community “exponentially”

Coinbase, a Nasdaq-listed cryptocurrency exchange, announced Tuesday that it was launching a non-fungible token (NFT) market. Sanchan Saxena, Vice President of Products at Coinbase, wrote:

Today we announced Coinbase NFT, a peer-to-peer marketplace that will make typing, buying, viewing, and discovering NFT easier than ever.

“Just as Coinbase helped millions of people access Bitcoin in a simple and reliable way for the first time, we want to do the same with NFTs,” he added.

Coinbase further stated, “All NFTs are in the chain. The first version will support the Ethereum-based standards ERC-721 and ERC-1155, with multi-chain support expected shortly afterwards. We offer the best user experience, but we will never block creators. Interested users can now register for Early Access.

The Coinbase Vice President noted that “Industries like fashion, games and music are realizing the power of NFTs to unleash new forms of creativity and ownership,” noted the Coinbase Vice President, “when you have tried to create or attempt to create an NFT buy, you’ve probably found the user experience to be bad. “

Aiming to simplify the process, Coinbase says, “We’re making NFTs more accessible by creating user-friendly interfaces that bring complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery.” The Vice President emphasized:

We will grow the creative community exponentially, a victory for artists and fans.
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How do I buy, sell and trade in Bitcoin?

If you define bitcoin, it is a protocol or network that has remained a revolutionary technology.

It comes with the culture that you can find in yourself. Hence, it can be called virtual money. In this article, we are going to talk about the basics of how BTC works as a financial asset. Also, explore the best ways to buy this digital currency, review the methods to sell it, and some simple explanations of the various transactions.

It is certainly not investment advice; Instead, it means gaining other vital information about how Bitcoin works as a financial asset. For more specific things, you can explore websites like https://trustpedia.io/trading-robots/bitcoin-era/ as we start like this: Buy BTC in the US You have the option to buy BTC from various portals or even BTC-based ATMs.

For example, in the US, BTC ATMs are popular kiosks that look like any traditional ATM. However, a closer look would help you to know that you need to log into your affected bank account and then they will continue to log onto the web and then allow you to get the money with the credit cards against BTC.

For your convenience, we can see that these BTC ATMs charge fees with BTC for convenience and then operate with multiple machines at a higher price and therefore can be offered with other online exchanges. You can even increase inquiries by 7% more than agencies like CFPB. The other option for users can be any first time buyer of BTC in the US doing so through a large scale online BTC exchange using an app or laptop.

To buy BTC you need platforms like exchanges.

So all you need is a good BTC wallet, and some of them are known to give you a wide range of options when it comes to accessing traditional money like USD to exchange accounts.

Some exchanges are more credible if you think about it, while others may even charge you high fees. You can explore more of the above websites and get a head start.

The last step in buying BTC is to trust a wallet that can keep things under your control. The purchase involves several steps; You may need a bitcoin wallet; Therefore, it can be seen that this is a very safe bet with management. While many would see how you can get into BTC through major exchanges, a sturdy type of BTC wallet can help you manage the contents of your private keys.

Send and receive bitcoins Once you have the bitcoin, you will definitely want to experiment with it by selling it or spending it somewhere. You can find several places to enjoy the shopping spree with great deals that only accept money in BTC.

Various BTC sellers can experience the same on leveraged exchanges and get the P2P platform or get stuff from personal markets that help sell more of their earned BTC. On the contrary, if you want to trade BTC and any exchange platform, you can create your own BTC wallet. Sending and receiving BTC is often referred to as identical transactions, which can take too much effort to obtain a public ledger called the BTC Blockchain.

Usually we can see that bitcoin transactions take place with the BTC type of record, where the same people seek the help of both to buy and receive them, with various related things.

One of the most important things to remember is that you cannot reverse the BTC transaction. So be sure to check everything before making a transaction to avoid regrets. Also, there are several other ways to deal with Bitcoin without the purchase option. Finally, BTC wallets are the best option for exchanging these digital currencies.