Month: September 2023

This Could Be The Metric To Watch For A Bitcoin Bounce: Santiment

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On-chain data from Santiment suggests that the stablecoin whale supply could be the metric to watch for the likelihood of a Bitcoin bounce. Whale Supply Of Stablecoins Could Hold Key To Bitcoin Rebound In a recent post on X, the on-chain analytics firm Santiment discussed the percentage of the total stablecoin supply that the whales in the sector are holding right now. The “whales” here refer to entities that are carrying at least $5 million worth of stablecoins in their addresses. Naturally, all stablecoins that are in circulation are included…

OKX Set to Receive Hong Kong VASP License as It Enters Final Stage of Approval

According to an OKX exec, the exchange is in the final stage and has banks waiting on regulatory approval in the form of a license. Popular OKX crypto exchange is close to getting a virtual asset provider license (VASP) in Hong Kong and is in the final stage of the process. If all goes well, OKX should receive final approval for the license sometime in March 2024. OKX is currently engaging with banks and financial institutions that are waiting to kick off operations with the crypto exchange as soon as…

Bybit debuts AI-powered ‘TradeGPT’ for market analysis and data-driven Q&A

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Dubai-based cryptocurrency exchange Bybit has developed a language-based trading tool that uses artificial intelligence (AI) to generate trading insights and answer technical questions from its market data. TradeGPT is being touted as an AI-powered education tool that taps into the generative ability of ChatGPT’s large language model and Bybit’s in-house ToolsGPT to provide real-time market analysis and answers to user questions in a variety of languages. An announcement shared with Cointelegraph highlighted TradeGPT’s ability to offer market strategies and products for strategies being discussed with a user. Bybit launched ToolsGPT…

Australian lawmakers send back crypto bill by Andrew Bragg

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Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg. The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors to add some amendments. The Senate particularly concluded that it would pass the bill with minor amendments such as removing the term nonfungible tokens (NFTs) from the definition of regulated digital assets. Among other recommendations, the lawmakers asked the bill authors to exclude certain asset-based tokens —…

The UK releases key ambitions for global AI summit

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The United Kingdom released its five “ambitions” for its global artificial intelligence (AI) safety summit on Sept. 4, with a big focus on risks and policy to support the technology.  The summit, which will take place on Nov. 1-2, is anticipated to unite thought leaders from around the world, including academics, politicians and major tech companies developing AI, in order to create a common understanding of how to regulate the technology. According to the announcement, it will primarily focus on “risks created or significantly exacerbated by the most powerful AI…

Will XLM Prices See A Dip Amid Mid-Range Struggles?

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Stellar (XLM) investors were in for a surprise over the weekend as the cryptocurrency staged a remarkable comeback, defying the prevailing bearish trend across the crypto market.  The token’s price surged by 7.3% in the past 24 hours and recorded a 2.3% increase over the past week, now resting at $0.122461 according to CoinGecko. While cryptocurrency enthusiasts are rejoicing over the impressive price performance, the question that lingers on everyone’s mind is: why did Stellar’s price jump during the weekend? Two plausible explanations have emerged. XLM Surge Potential Triggers One…

Who is filing and when the SEC may decide

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The race to list the first spot-traded Bitcoin (BTC) exchange-traded fund (ETF) in the United States has seen the entrance of major financial institutions like BlackRock, Fidelity and VanEck.  While the U.S. Securities and Exchange Commission (SEC) first approved a Bitcoin-linked Futures ETF in October 2021, the current filings are for spot Bitcoin ETFs. Following Grayscale’s recent legal victory against the SEC’s review of its spot Bitcoin ETF proposal, many now believe approval of the investment funds is more likely. The interest of BlackRock — the world’s largest asset manager…

Bernstein Says Crypto ETFs Could Extend beyond Bitcoin and Ethereum

Bernstein analysts believe that diversification presents a significant commercial opportunity for asset managers. It allows them to enter the rapidly growing digital asset market and benefit from increased demand and market growth. In the world of finance, few innovations have garnered as much attention and excitement as the potential launch of crypto exchange-traded funds (ETFs). Bitcoin (BTC) has been the center of attention in finance for years, but the advent of crypto ETFs is poised to introduce a new era of diversified digital asset investments. Analysts at Bernstein believe that…

Expert Market Analysts Agree A Spot Bitcoin ETF Is A Matter Of When, Not If

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The crypto community has been kept at the edge of its seat as the SEC decided to postpone a decision on the 7 Spot Bitcoin ETFs filed over the last few months. During such a pensive time, market analysts have predicted the SEC authorizing a Spot Bitcoin ETF while the former SEC Chairman foresees a losing battle for the regulator.  JP Morgan Analysts Foresee ETFs Approval The United States Securities and Exchange Commission (SEC) and Grayscale, an American digital currency investing and crypto asset management company have been embroiled in…

SEC Likely to Approve Bitcoin ETFs after Grayscale’s Win

The analysts noted that the SEC may have to approve Grayscale’s ETF proposal and potentially other spot-based Bitcoin ETFs in order to maintain regulatory consistency.  JPMorgan Chase & Co (NYSE: JPM) has predicted that the United States Securities and Exchange Commission (SEC) will be compelled to approve spot Bitcoin (BTC) Exchange-Traded-fund (ETF) applications from various asset managers following Grayscale’s favorable court ruling. Grayscale Investments, a prominent player in the crypto space, had been seeking SEC approval to convert its Grayscale Bitcoin Trust (GBTC) into an ETF for some time. However,…