Month: August 2023

Controversial Euro CBDC Plan to Be Led by Stefan Berger, Architect of Landmark MiCA Crypto Law

The digital euro “is a solution looking for a problem and potentially only causes problems … it will only cause confusion amongst consumers and could undermine confidence in financial systems,” Hoogeveen said, although he acknowledged his party might not have enough votes to reject the plans outright. “We’ll at least try to adjust it and I will try my utmost to address the concerns of citizens.” Source

Crypto donations fund fire relief efforts on Maui

Relief efforts are still underway on the Hawaiian island of Maui following a series of wildfires severely damaging major areas including Lahaina. All Hands and Hearts, a disaster relief organization, has been collecting cryptocurrency and fiat donations to assist local Maui residents in the wake of the fires which took the lives of more than 100 people and destroyed homes and businesses. Government officials have reported the cost to rebuild may be more than $5.5 billion. “Cryptocurrency donations as any other type of donations are helping to provide essential support…

Why Good Indexes Are Vital to Crypto’s Future

Indexes are pivotal in asset markets as the cornerstone of financial market growth and an essential tool for investors. In crypto, however, the nascent state of index availability and adoption is a significant impediment for investors. Currently, the equivalent advice to “buy the index” is to purchase bitcoin (BTC) or Ethereum’s ether (ETH) in a centralized account, which is insufficient to attract new capital from sophisticated investors. Indexes allow for efficient asset allocation, risk management, product development and performance measurement. Without indexes, crypto cannot evolve into an institutional financial market.…

$28,100 Next Level To Break For Bitcoin, Here’s Why

boss

On-chain data suggests the $28,100 level could be the next major resistance to break for Bitcoin if history is anything to go by. Bitcoin Short-Term Holder Cost Basis Is Valued At $28,100 Currently As pointed out by an analyst in a CryptoQuant post, the BTC price has recently neared the short-term holders’ realized price. The “realized price” is a metric that basically represents the cost basis (that is, the buying price) of the average investor in the Bitcoin market. When the spot price of the asset dips below this indicator,…

A Guide to TradFi Blockchain Adoption

Since RWA, such as mortgages, private equity investments and illiquid funds, have not been historically represented on-chain, TVL primarily focused on the value of digital assets deposited within DeFi protocols. However, as blockchain technology adoption by traditional financial institutions progresses, the inclusion of RWA, measured within the TVL framework, becomes increasingly relevant and necessary. This is a natural progression in line with the continued development of the DeFi ecosystem, which is coming to embrace tokenized RWAs as part of TVL. Moreover, as DeFi platforms attract institutions and large-scale investors (which…

Bitcoin analysts doubt BTC price rally as $23K target gains popularity

boss

Bitcoin (BTC) drifted toward $27,000 after the Aug. 30 Wall Street open as the dust settled on digital asset manager Grayscale’s legal victory. BTC/USD 1-hour chart. Source: TradingView BTC buyer interest remains low Data from Cointelegraph Markets Pro and TradingView showed BTC price cooling volatility, which began the day prior, when a positive verdict for Grayscale against United States regulators sparked 7.5% gains. Bitcoin managed $28,143 on Bitstamp — its highest in almost two weeks — before returning to consolidate lower. Despite closing the daily candle above two key moving…

Are Whales Making An Exit?

XRP has had its ups and downs in the past few months, ranging from a 70% price spike from Ripple’s partial victory in court to whales and retail investors taking profit after the price pump. Now, on-chain data has shown that XRP big money players have made many interesting transactions this month, with whales transferring over 1.7 billion XRP worth $899,530,325.  XRP Price Sees Pressure From Whale Movement In August According to on-chain data, a total of 1.7 billion XRP, worth over $899 million, were moved by some of the…

Where 2024 US presidential candidates stand on the future of crypto

As the 2024 US presidential election looms, will the White House’s next occupant usher in a cryptocurrency bull market, or will they double down on stringent regulations? Reigning President Joe Biden, who seeks a second term, has offered a mix of skepticism and caution towards the digital finance realm. Under his watch, proposals like the 30% tax on crypto mining have stirred debate, while his 2023 Economy Report (Chapter 8) highlighted the speculative nature of many crypto assets, emphasizing the perils that even stablecoins can encounter, like the run risk.…

Binance To Delist Eight BUSD Trading Pairs Soon, End Full BUSD Support By 2024

boss

The world’s largest exchange, Binance, has announced plans to delist eight Binance USD (BUSD) trading pairs as the company looks to withdraw full support of the stablecoin by 2024. This follows increased regulatory pressure on the stablecoin in 2023, which has led to a drastic decline in its market share so far.  Binance To Delete Nine Margin Trading Pairs By September 7 In a blog post on Wednesday, Binance laid out intentions to delist eight BUSD cross margin and isolated trading pairs. These include AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, NULS/BUSD,…