\'2024 started on a positive note for crypto and Bitcoin in particular, the long awaited BTC spot ETF has been approved and is currently up and running with a net inflow of over $600m across all 11 ETFs in just day one.There have also been some hacks already in 2024 with the biggest so far being Orbit Chain's $81 million hack on January 2nd.In 2023 we saw the Ethereum Shappela upgrade, interest rate hikes (USA), and SEC crackdown on crypto before it all climaxed with the CZ & Binance US Fines.So in this article, as we kick-off 2024 admits growing positive market sentiments we highlight some key market moving events to look out for.Safety first.\'Source: https://www.hashlock.com.au/post/look-out-for-these-upcoming-crypto-events-in-2024
This upgrade is expected to happen sometime in late Q1 or Q2 2024. Ethereum Spot ETF Crypto Exchange Traded Fund (ETF) tracks the price action of one or more digital currencies. ETFs are traded like a standard share on a stock exchange e.g. New York Stock Exchange. Crypto ETFs enable mainstream retail investors to put their money into a regulatorycompliant asset that represents crypto assets. This removes the need to physically own or manage crypto, which can get very tricky, especially for inexperienced users, due to the plethora of hacks and scams out there. Instead, the company issuing and listing it on an exchange bears custody of the underlying digital coin. Then, investors buy shares to represent their rights in the exchange-traded fund. Therefore gaining indirect exposure to the volatility of the base cryptocurrency. In the case of Ethereum ETF the underlying asset is Ether (ETH) the native coin of the Ethereum blockchain.
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The recent approval of Bitcoin spot ETF has renewed positive sentiment surrounding expectations of SEC approval of Ethereum spot ETF. BlackRock, VanEck, ARK 21Shares, Fidelity and Invesco Galaxy, Grayscale and Hashdex are among the spot Ether ETF applicants vying for SEC approval. The Security and Exchange Commission is expected to start making decisions on ETH spot ETF starting from May 2024 to August 2024. Token Unlocks
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Image credit : Delphi Digital When protocols release their native token they do it gradually to avoid dumping by founders and other recipients. This period in which these tokens are locked up or restricted is known as a vesting period, so at the end of a vesting period, projects unlock tokens and they are released to recipients. Therefore, token unlock is simply the release of previously locked or restricted tokens into the market meaning the unlocked tokens can now be bought and sold. Information about a projects token unlock can be found in a projects Tokenomics or Whitepaper which are usually publicly available on the website of a project. Keeping up with token unlocks is very crucial for crypto traders and investors as this increases the circulating supply of a token. Many therefore see token unlocks as bearish. This year some of the upcoming major token unlocks include: Aptos24.84m APT currently worth $231m to be unlocked on the 11th of February.
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Avalanche9.54m AVAX worth $376m to be unlocked on the 22nd of February Arbitrum 1.11b ARB worth $2.49b accounting for 82.20% of circulating supply to be unlocked on the 16th of March. The information above are all according to token analytics site TokenUnlocks.
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