FTX’s collapse blew a bitcoin-sized hole in Solana DeFi. Can Coinbase’s cbBTC finally fill it?

The prestigious team of developers say that the new method, while still in need of refinement, could bring greater programmability to the Bitcoin blockchain without requiring a notoriously difficult-to-pass upgrade known as a soft fork.

BlackRock’s iShares Bitcoin Trust registered $4.1 billion in volume traded as bitcoin broke out to all-time highs.

Under the proposal, bitcoin would be established as a strategic reserve asset and the government could buy up to 5% of the cryptocurrency’s total supply, the report said.

While sell-the-fact price slide looks unlikely, traders still need to watch out for the other side of the Trump trade – hardening bond yields and rising dollar index, says CoinDesk analyst Omkar Godbole.

MicroStrategy and Coinbase both added 12%, with bitcoin miners also gaining more than 10% in pre-market trading.

Bitcoin dominance approached 61% with Solana dominance also primed to touch record high.

Altcoins have lagged throughout the year amid regulatory uncertainty, and hence, K33 Research analysts said they are “more sensitive” to the election results.

The company requires financing conditions to remain agreeable, and there needs to be continued investor demand for the firm’s convertible debt, the report said.

The Bitcoin hashrate, on a seven-day moving average, hit a record high of 755 EH/s last week.