US-based cryptocurrency exchange Kraken, the sixth largest trading volume, is gearing up to launch its blockchain, Ink, in early 2025. This new platform aims to facilitate decentralized applications (dApps), enabling users to trade, borrow, and lend tokens without intermediaries. Kraken’s Ink Blockchain Goals According to a recent report by Bloomberg, Ink will utilize technology similar […]
As the 2024 BRICS Summit commences in Kazan, Russia, discussions surrounding cryptocurrency have taken center stage. Lawmakers from Brazil, Russia, India, China, and South Africa are exploring the potential for Russian miners to leverage Bitcoin in international trade, aiming to circumvent the stringent sanctions imposed by the United States. Lawmakers Propose Bitcoin Sales By Russian […]
The Bank for International Settlements and the Financial Stability Board have similar views on tokenization — it could provide new benefits and familiar challenges.
On Monday, Coinbase’s Chief Legal Officer, Paul Grewal, announced that the exchange is ramping up its legal efforts in their ongoing battle with US regulators by filing two new sets of Freedom of Information Act (FOIA) requests. Grewal emphasized the necessity of obtaining clarity on how regulatory agencies are approaching digital assets, stating, “In short, […]
The UK financial regulatory agency sticks to its decision to continue implementing stringent rules in the registration process of businesses involved in cryptocurrencies. The Financial Conduct Authority (FCA) asserted that UK’s tough regulations on crypto firms serve as a deterrence to prevent these companies from becoming conduits for any money laundering activities. Related Reading: Crypto […]
Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space. The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena. Related Reading: Going Crypto: Putin Reveals BRICS’ Shift […]
According to market analysis, XRP might be near to having a significant price blowup. The next altcoin season could go anywhere from 10x to the amazing 500x, experts believe. Two important charts by renowned market analyst Kevin Cage on XRP’s relationship with Bitcoin’s supremacy in past bull markets form the basis of this favorable prediction. The Last 2 Times $XRP Pumped Was during the previous 2 Alt Seasons when #Bitcoin was drawing higher highs first. 2017: Over 500X (over 300x with Monthly Candle Bodies) 2021: 10x (During Lawsuit & Exchange Delistings) Will history rhyme or will the future be different?… pic.twitter.com/V8nb9yh8qR — Kevin Cage (@Kevin_Cage_) October 16, 2024 Recently, financial analyst Gary Cardone generated enthusiasm within the XRP community with a cryptic tweet suggesting a possible “launch” for the cryptocurrency. Historically, Bitcoin’s market dominance has significantly influenced the performance of altcoins, such as XRP. When Bitcoin’s dominance declines, altcoins frequently experience significant increases. Related Reading: WLFI Token Launch, Backed By Trump, Falls Flat On $300 Million Fundraising Target We are waiting….I confirmed w/ authorities they are ready for you, this was the message; XRP- LAUNCH PAD IS: Green……. Proceed with launch codes….. Repeat: Launch pad is green lite for XRP. XRP may Launch. General Barnaby Anushopium https://t.co/JB2BMQDoHs — Gary Cardone (@GaryCardone) October 15, 2024 This trend was apparent in previous altcoin seasons, as XRP flourished when Bitcoin’s market dominance diminished. Proponents such as Zach Rector assert that XRP is poised for a substantial breakout, bolstering the belief that the token’s future may be promising. Historical Performance Indicates Potential Cage emphasizes two critical epochs in XRP’s history. During the 2017 bull market, XRP surged more than 500-fold, increasing from $0.006 to $3.50 by early 2018. This increase occurred as Bitcoin’s dominance decreased from 95.91% to 35.46%. Altcoins including XRP surged significantly when Bitcoin fell, grabbing the chance to shine. Though delisted from multiple exchanges and facing legal challenges from the US SEC, XRP had an incredible 10x gain in value during the 2021 bull run. It increased from $0.18 to $1.96 with a corresponding decrease in Bitcoin’s supremacy, which fell from 73.51% to 39.54%. These historical examples demonstrate a distinct trend: XRP typically excels when Bitcoin declines. Altcoin: Market Dynamics Currently, Bitcoin’s dominance is approximately 58%, having recently increased. Should its dominance begin to wane once more, according to previous cycles, XRP may be poised for another substantial price surge. A tenfold rise is possible, which would push XRP above $5. This shows that altcoin seasons are still a big reason for the token’s price changes. Even though these predictions are getting a lot of attention, it’s still not clear how much XRP will rise. Things like the present lawsuits against Ripple could change how the market works. The SEC’s recent appeal in its case against Ripple makes things more complicated. It makes the legal fight last longer and makes investors less sure of what will happen. Related Reading: Dogecoin Jumps Over 16% In The Last Week — More Gains To Come? Community Discourse And Speculation The XRP community is full of speculations. Cardone’s tweet made while using military imagery indicated some kind of upcoming development for XRP. Some members of the community seemed to take it as good news. Supporters of XRP, such as Zach Rector, interpreted Garry’s tweet as an indication of the growing recognition of the altcoin. “Gary is hopping onboard the XRP train,” he remarked. Featured image from HTX, chart from TradingView
The digital assets landscape is becoming increasingly mainstream, as detailed in the annual “State of Crypto” report published by venture capital firm Andreessen Horowitz. The report emphasizes the growing international market for stablecoins, the maturation of infrastructure, and a notable decline in transaction fees, all contributing to a surge in crypto activity throughout the year. […]
Bitcoin (BTC) has surged past the $65,000 mark, renewing traders’ optimism for an “Uptober” rally that could extend the digital asset’s bullish momentum. Is The Bitcoin “Uptober” Rally Finally Here? In the early hours of October 15, Bitcoin briefly crossed $66,000 before retracing to $65,964 at the time of writing. Over the past 24 hours, BTC has gained 1.4%. According to a report by crypto exchange Bitfinex, Bitcoin’s decisive move past the crucial $63,000 resistance level, combined with encouraging on-chain metrics, points toward further potential upside move. Related Reading: Bitcoin Price Holds Above $63,000 — Here’s The Next Critical Resistance Level The report mentions that Bitcoin’s realized price of unspent transactions output (UTXO) age bands are a “pivotal on-chain metric for gauging Bitcoin’s market dynamics.” For the uninitiated, Bitcoin’s UTXO age bands refer to the value at which different groups of BTC – based on their holding duration – were last moved. Essentially, it helps track the average purchase price across various age groups of BTC holders, indicating market sentiment and the profitability of specific cohorts. Notably, the average realized prices for short-term (3-6 months) and mid-term (6-12 months) holders have historically been key support or resistance levels. The short-term holder price is around $63,000, while the mid-term holder price is $55,000. When Bitcoin trades below the average purchase price of these groups, it often signals a bearish trend. Conversely, a move above these levels can indicate bullish momentum. Since BTC has surpassed the $63,000 resistance, further gains could be in sight. However, a failure to close above this level could have triggered a potential decline toward $55,000. Market Displays Strong Appetite For Digital Assets The report highlights BTC’s weak price action on October 10, when it fell to $58,943 due to lack of aggressive buying in the spot market. Per the report, the majority of the selling originated on Coinbase. Related Reading: Spot Bitcoin ETFs Back To Positive Returns With $308 Million Inflows – Details The report mentions the Coinbase Premium Gap Indicator (CPGI) – a metric that shows the difference between the BTC-dollar pair on Coinbase versus other major centralized exchanges. The CPGI decreased by 100 points as BTC’s price declined below $59,000. The report notes that during the past year, anytime the CPGI fell below 50 points, BTC price has witnessed a subsequent recovery. The report adds: Bitcoin has been trading within a broad range for the past eight months. In the event of the onset of a bear market, selling typically ensues when the Coinbase Premium turns negative. However, such selling has not been observed, suggesting that despite the fluctuations, the market remains relatively stable without widespread fear-driven divestment. This resilience could indicate underlying strength or a balanced market sentiment that may steer future price movements. This analysis aligns with a separate report by crypto firm QCP Capital, which noted that the shallow sell-off in the crypto market following geopolitical tensions between Iran and Israel indicates sustained demand for risk-on assets. In related news, BTC bulls will be relieved to learn that the defunct crypto exchange Mt. Gox has delayed its repayment until October 2025, potentially easing pressure on spot selling. However, some analysts warn that BTC may face price capitulation due to tightening on-chain liquidity. At the time of writing, Bitcoin trades at $65,964, up 1.4% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and Tradingview.com
Tether Holdings, the issuer of the world’s largest stablecoin, USDT, is reportedly exploring lending options for commodities trading companies as it seeks new ways to deploy this year’s profits amid the broader market recovery. According to Bloomberg, the discussions involve potential US dollar lending opportunities with various firms in the commodities sector, which often grapples […]
The Brazilian central bank has 13 participants for phase 2 so far, and it is willing to take on an unlimited number.
The US Securities and Exchange Commission (SEC) has faced increasing criticism in recent years over its regulatory approach to the crypto industry under President Biden’s administration, characterized by increased enforcement actions and lawsuits against major players. Commissioner Mark Uyeda recently voiced his concerns, describing the SEC’s strategy and regulation of the nascent crypto market as […]
According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market. Bitcoin Headed Lower Before Higher In a detailed thread on X about BTC price analysis, crypto analyst Cole Garner stated that capitulation might be on the horizon for the leading digital asset. Garner attributes the potential downturn to tightening on-chain liquidity. Related Reading: Bitcoin ETF Options Set To Supercharge Price Volatility, Expert Warns Tracking global liquidity from central banks worldwide, the analyst said he sees a “buy signal” for digital assets. However, more downsides for cryptocurrencies could come before liquidity-enhancing measures undertaken by central banks buoy them. In his analysis, Garner stated that “if China doesn’t ring that bell, the Fed or Japan should do the job,” likely pointing toward the recent economic stimulus injected by the Chinese central bank in a bid to boost the country’s grim economic outlook. Garner referenced the recent economic stimulus from China’s central bank but noted that this week, the People’s Bank of China (PBoC) refrained from injecting additional liquidity, tempering expectations for risk-on assets like crypto. Garner emphasized the low supply of stablecoins compared to the beginning of October 2024. Analyzing the “Bitfinex grail,” which is essentially the total supply of two leading stablecoins on the exchange – USDT and USDC – Garner noted its quarterly rate of change is declining, potentially leading to lower prices for digital assets in the short term. Despite these concerns, Garner pointed out that Bitcoin has printed a higher high on the 8-hour chart, and the market structure remains bullish. Even if BTC dips to its range lows in the high $40k range, the overall price action is still considered positive. Garner suggested that should BTC hit its range of lows, traders and investors can consider buying at that price. Even if they are low on liquid cash, they must ensure they don’t get spooked by the market and panic-sell their current holdings. Another crypto analyst, Ali, seemed to echo Garner’s outlook, stating that Bitcoin is stuck in a descending parallel channel and runs the risk of sliding to channel lows of around $52,000. The analyst stressed that BTC must overcome the $66,000 level for a bullish breakout. Can Bitcoin Hit New All-Time Highs In 2024? With the remainder of 2024 ahead, Bitcoin bulls anticipate interest rate cuts by the US Federal Reserve (Fed) to fuel a new rally. However, BTC must clear several hurdles to sustain its bullish momentum. Related Reading: Bitcoin’s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near? Crypto analyst Carl Runefelt recently noted that BTC must overcome the $64,000 resistance level to trigger a rally in Q4 2024. Failure to break through this price level could lead to further downside. Further, Bitcoin’s price finally turned green in October, giving bulls hopes of another “uptober” for the asset, which was marked by significant price increases. BTC trades at $60,711 at press time, down 2.4% in the last 24 hours. Featured Image from Unsplash.com, Charts from X and TradingView.com
The Virtual Assets Regulatory Authority (VARA) in Dubai has moved decisively, slapping cease-and-desist orders on seven VASPs. This is all a part of VARA’s continued attempts to make sure everyone follows its rules, especially when it comes to crypto marketing and licensing. The fines imposed can reach up to AED 100,000 (around $27,000), underscoring the […]
The Irish Criminal Assets Bureau (CAB) is facing significant challenges in accessing €350 million or approximately $383 million in Bitcoin (BTC) seized from a former drug dealer. The cryptocurrency, currently stored in 12 separate wallets, has become a point of contention for the Irish agency, which has been unable to unlock the assets for over […]
European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets.
In a developing story from Politico, a potential clash between Wall Street’s regulator and Robinhood Crypto is looming. As the Securities and Exchange Commission (SEC) prepares to scrutinize Robinhood’s cryptocurrency operations, chief legal officer Dan Gallagher is emerging as a leading candidate to head the SEC should Donald Trump secure another term as president. Potential […]
With the 2024 presidential election just around the corner, crypto has gained significant momentum as a key issue in the race to the White House, especially with candidates Vice President Kamala Harris and former President Donald Trump expressing support for the digital asset industry. However, law experts assert that it is not the US President […]
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025.
In a recent interview with CNBC, Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), addressed ongoing enforcement actions against key players in the cryptocurrency industry. His remarks come amid rising discontent among investors and participants who feel the regulatory landscape has become increasingly hostile. Regulatory Oversight Essential For Innovation? Gensler began by […]
Country-wide Bitcoin adoption could boost financial inclusion and trade, but challenges like volatility and regulatory hurdles might create mixed economic impacts.
On Wednesday, PayPal announced that it is enabling US merchants to buy, hold and sell cryptocurrency directly from their business accounts. This new functionality aims to increase the utility of digital currencies and make it easier for users and merchants to deal with crypto assets in their businesses. New Features Allow Easier Crypto Management Jose […]
Australia is taking considerable measures to regulate the cryptocurrency business, with the goal of improving consumer safety and reducing fraudulent activity. Related Reading: Digital Assets On The Table: Kamala Harris Promises To Invest In America’s Future The Australian Securities and Investments Commission (ASIC) has revealed intentions to compel cryptocurrency enterprises, including exchanges, to seek financial […]
Making waves in the crypto industry today, Bittensor (TAO) is showing an impressive annual increase. The current explosion in artificial intelligence adoption has spurred more interest in cryptocurrencies, and Bittensor is conspicuously leading in this regard. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details TAO has shown an amazing 1,000% price rise over the last year. The digital asset was up by a solid 65% this month. Looking ahead, CoinCodex projects a whopping 243% price rise, maybe reaching $1,827 by October 23, 2024, therefore inspiring investor hope. Right now, Bittensor is trading at $525, slightly below the vital $530 threshold. This shows strong market mood since it indicates an 81% sustained upward push in the past week. Given the good technical indicators and a positive view of the next months, traders are excited to see how high TAO may get. Strong Market Momentum At the moment, Bittensor is riding a wave of strong upward progress. The price went up by 40% after a recent wedge exit, setting the asset up for more gains. Bittensor’s futures open interest has gone from $61 million to $114 million, showing that investors are taking notice. This rise means that more investors are starting new positions, which means that money is coming into TAO. Moreover, the recent price increase has been accompanied by heightened bullish signals. With liquidation for short positions at a yearly high of $1.45 million, people betting against the market are driven from their positions. Long position liquidations, meantime, have been somewhat minimal, just $139,000 over the past week. This pattern shows increasing confidence among investors thinking about the future price movement of Bittensor. Positive Mood And Price Projections Expectations are that this optimism regarding Bittensor will hold. Furthermore, according to CoinCodex, this will result in an increase of up to 240% as the figures could rise to $1,827 come October 23, 2024. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains The fear & greed index is little changed at 50, and technical indicators are close to neutral. Such a signal is an indicator that investors in the market are staying positive about the prospects of the coin registering more gains ahead. With 16 of his 30 trading days posted in the green over the past 30 days, Bittensor has a 53% success record. Coupled with a 17.69% price volatility, this result suggests a healthy state of the market. Bittensor: Strong Market Signals Bittensor is fairly positioned within the AI coins sphere. Its phenomenal price pump and solid market signals give hope to traders about its prospects. Hence, soaring open interest, a high liquidation rate on short positions, and positive projections for the price indicate that Bittensor may record decent profits in the coming months. Featured image from X/@CryptoGirlNova, chart from TradingView
Veteran analyst Peter Brandt is making a bold prediction that is creating a lot of talk in the crypto arena: by 2025, Bitcoin should see its price jump 400% relative to gold. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains He feels that, according to the market patterns witnessed so far, Bitcoin could soar to the equivalent of around 123 ounces of gold. This rally potential comes in the wake of general price predictions, as Bitcoin is likely to increase by 65% over the next three months and by almost 100% in six months, data from CoinCheckup shows. Over the next year, an increase of 130% is estimated, meaning that confidence in the upward movement of Bitcoin is quite strong. There has never been a better moment for investors to ponder this question: Will Bitcoin be able to rise above the iconic status of gold as the prime store of value? Never mind if the crypto market cannot resist their bold prophesying; the confluence of key factors appears to portend a triumph for Bitcoin in the years ahead over gold. When I look at chart of Bitcoin/Gold ratio, here is how I view it: $GC_G $BTC $BTCXAU 1. Continuation inverted H&S pattern, neckline at 32.5 to 1 2. Left shoulder low at 14.2 to 1 3. Right shoulder forming flag 4. Could decline into high teens to 1 5. Target 123 to 1 pic.twitter.com/VKvsDqwkuU — Peter Brandt (@PeterLBrandt) September 21, 2024 Institutional Adoption Fuels Optimism A significant reason why Bitcoin is likely to rocket soon is because of the increasing institutional investment. Large financial companies, even governments, have begun to view Bitcoin as a store of value akin to old inflation hedges like gold. Such institutional support will be crucial in propelling Bitcoins’ price even higher as capital continues to pour into the market in more considerable volumes. But perhaps most significantly, decentralized finance has unlocked new use cases for Bitcoin beyond its role as a store of value. By including the underlying cryptocurrencies in the DeFi ecosystem, investors can use their Bitcoin positions in ways gold simply cannot be used. According to Titan of Crypto, another respected voice in the crypto community, Bitcoin’s unique position within DeFi will only strengthen its value proposition against traditional assets like gold. Gold’s Rise Could Boost Bitcoin Interestingly, the forecasted rise in gold prices could indirectly benefit Bitcoin. As gold registers fresh all-time highs, it reinforces the narrative of precious metals as a hedge against economic turmoils. This, however, makes Bitcoin a more functional option considering its digital nature and increasing utility within decentralized finance. Investors looking to diversify may see Bitcoin as a way to gain exposure to both safe-haven assets and the rapidly evolving digital economy. According to Wall Street investment banks, gold is likely to break through $2,700 as 2025 progresses, thanks to the expected rate cuts by the Federal Reserve. If Bitcoin maintains its current trend, its price compared to gold may rise, maybe reaching the 123-ounce threshold. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details How This Feels To Investors The consequences of this prediction are substantial for investors. Those who own Bitcoin would see significant rewards if the alpha coin’s price rose 400% in relation to the popular yellow metal. Investors must exercise caution when considering this opportunity, despite the fact that Bitcoin’s long-term outlook remains optimistic, particularly in light of its projected 132% price increase within the next year. Overall, the crypto landscape is evolving rapidly, and Bitcoin’s role as a store of value could very well surpass gold’s in the coming years. Investors would do well to keep an eye on both assets as economic conditions shift and markets react to global developments. Featured image from Asia Times, chart from TradingView
Vice President Kamala Harris, who recently vowed to embrace the development of artificial intelligence and cryptocurrencies, shook the political stratum. Related Reading: Trump Coins Go Public For $100: Minted In America, But Will It Sell? Speaking in New York City at a high-profile fund-raising event, she sold her economic agenda, which promises to strengthen innovation […]
SUI has made some gigantic moves recently, posting strong bullish signals. In the last week, SUI registered an impressive 33% rally, pushing the price up to $1.18 at press time. This is getting people wondering whether the token is preparing for a longer ascent, as many are waiting for key levels that might influence the situation. Related Reading: Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts Price forecast for the altcoin predicts significant increase in the next few months. A strong upswing could propel the SUI to soar by 245% in the following three months. The price chart of SUI shows a sequence of higher highs and lower lows, which confirms this view—textbook evidence of optimistic momentum. SUI has gradually climbed from a low of $0.60 early this year, passing through several resistance zones along the way. Bullish Trend Signals Strength SUI’s price movement indicates that bullish sentiment is gathering steam. The token’s capacity to breach resistance zones points to perhaps more fuel left for the rally. Market observers are closely monitoring the next significant resistance level at $1.2047. Should SUI exceed this barrier, the following targets should lie between $1.50 and $1.80. While the support held high at $1.125, a firmer layer of support is observed at $1.045. The battle is on between the bulls and the bears, but the momentum seems to be on the side of the bulls. What would be the final test is whether they can push SUI past these resistance levels to trigger another round of buying. Volume And Open Interest On The Rise Supporting the bullish outlook is the increase in volume and open interest. Data from Coinglass shows the trading volume of SUI has risen 3.25% to $1.83 billion while open interest is up 11.85% at $331 million. This rising trade volume indicates growing interest in this token,. With the increasing engagement, people seem to have big confidence in the short-term prospects of SUI. With these uptrends, the market sentiment is going strongly on a roll to sustain this rally. Technical signals and trading activities are showing good numbers for SUI bulls. Price Predictions Show Optimism The three-month prediction on price for SUI is quite optimistic. Analysts predict the coin rising 245.86% over the next three months. This would signify a massive rise from its present levels, indicating important momentum to be seen within the market and investors. Further ahead, the six-month projection is estimated to increase by 180.47% while the one-year outlook will hike by 166.62%. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures These numbers suggest that SUI might continue posting steady gains in the medium and long run, despite being traded at 228% below estimates in the next month, suggesting optimism is still around it. Investors are waiting and on the lookout for when SUI will cross past these key levels, which may unlock and open up better prospects for the future. The coin is drawing further attention as it moves with bullish technical signals coupled with increasing volume and positive price forecasts. It may be about to embark on a protracted rally considering the current position of the token, where it has managed to breach the strong resistance levels of around $0.016. Featured image from Chainwire, chart from TradingView
As the world’s largest asset manager and issuer of crypto exchange-traded funds (ETFs), BlackRock, solidifies its foothold in the industry, the firm’s Head of Digital Assets, Robbie Mitchnick, recently made interesting statements on key issues regarding BlackRock’s position and vision of the financial landscape. In a recent interview with Bankless, Mitchnick outlined BlackRock’s strategy for […]
As the broader crypto market faces significant price corrections, primarily driven by Bitcoin’s (BTC) nearly 5% drop on Monday, one token has emerged as a standout performer. Black Agnus and its native token, FTW, have captured attention with an extraordinary surge of 507% in just 24 hours, alongside a significant 183% increase in the past […]
In the run-up to the 2024 US election, crypto donations have already amassed $190 million. Such a huge amount reflects how strongly interdependent the crypto industry has become with the world of politics. Related Reading: Trump Drops Major Clue On Crypto Project Launch Date But as the influence of crypto grows ever-wider and more powerful, […]