Bitcoin‘s price slipped below $69,000 during the European morning session after briefly surpassing $70,000 late on Monday. Currently priced at approximately $68,900, BTC has declined just over 0.2% in the past 24 hours. The broader digital asset market also saw a downturn, with the CoinDesk 20 Index (CD20) dropping 0.70%. According to crypto exchange Bitfinex, bitcoin’s decline since March was primarily driven by long-term holders selling their assets. However, this selling trend has halted recently, with a growing number of net accumulating BTC addresses, indicating a resurgence in bullish sentiment.
DWF Labs to Invest $12 Million in Floki Tokens to Bolster Ecosystem
Crypto trading firm DWF Labs announced it will purchase $12 million worth of floki tokens from the open market and the Floki treasury. This move aims to support the dog meme coin-turned-utility project’s expanding ecosystem. Earlier in February, DWF Labs committed to buying $10 million worth of FLOKI, which led to a 50% increase in FLOKI prices the following week. The mainnet version of Floki’s flagship utility product, the Valhalla metaverse game, is set to launch later this year. DWF’s investments are expected to fuel the growth of these initiatives and provide necessary liquidity. The partnership between Floki and DWF Labs began in May 2023 when DWF purchased $5 million worth of FLOKI tokens.
Bitpanda Partners with Deutsche Bank for Enhanced Fiat Processing
Bitpanda has teamed up with Deutsche Bank to streamline fiat deposits and withdrawals for its users in Germany. This collaboration allows Bitpanda users to obtain German international bank account numbers (IBANs), facilitating the conversion between crypto and fiat currencies. Deutsche Bank will also handle incoming and outgoing transactions for Bitpanda. Lukas Enzersdorfer-Konrad, Bitpanda’s deputy CEO, highlighted the benefits of this partnership, stating, “Bringing the best parts of the industry together is where we can create real value for people … From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.” Deutsche Bank, experienced in crypto and tokenization, added these services to its offerings last year through a collaboration with Taurus.
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