Day: October 16, 2023

Bitcoin Price Soars To $28,000, Here’s Why

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The world’s leading cryptocurrency, Bitcoin (BTC), has seen a significant surge in its price today, reaching $28,004. While several factors have contributed to this jump, here are the primary reasons: #1 SEC’s Non-appeal On Grayscale Spot Bitcoin ETF Late on Friday night, the market became aware of the US Securities and Exchange Commission’s decision not to appeal the verdict which favored Grayscale’s conversion of the Grayscale Bitcoin Trust (GBTC) into a spot ETF. This decision wasn’t perhaps fully priced in on Friday, as Bitcoin’s price rose by a mere 1.2%…

MAS Gives Initial Approval for Upbit to Operate in Singapore

With the license, Upbit will now be able to offer digital payment token services to institutional investors. However, it still awaits a full MPI license from the MAS. Upbit, South Korea’s largest exchange in terms of volume, has achieved in-principle approval for a Major Payment Institution (MPI) license in Singapore through its Singapore entity. On October 16, Upbit Singapore announced that the Monetary Authority of Singapore (MAS) granted the in-principle license. This will enable them the provision of offering digital payment token services to institutional investors while the full license…

The Key To A 20% Price Breakout?

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Cardano (ADA) has remained perched above the critical annual support level of $0.24, a steadfast line of defense in the face of market volatility. Despite the notable price swings, the asset’s price action has failed to commit to either a bullish or bearish trend, leaving market participants uncertain about the coin’s future.  A closer look at the daily chart reveals that this indecisive phase is gradually forming a symmetrical triangle pattern, potentially holding the key to forecasting the coin’s near-term trajectory. As of the most recent data from CoinGecko, Cardano…

How to build a DApp on Ethereum

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The Ethereum DApps ecosystem is thriving, and the potential for decentralized applications (DApps) is immense. Who wouldn’t want to participate?  Developers can now build applications with their own native coins or nonfungible tokens (NFTs) on secure blockchain networks to serve any purpose — from financial and industrial use cases to social media sites and, of course, for gaming. Let’s look at some questions developers might have and how they can get started on an Ethereum DApp project. What are DApps? DApps are blockchain-based versions of the applications and software we…

TRX May Have Another Chance For A Bullish Streak

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Tron price is gaining pace above $0.0865 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.091. Tron is moving higher above the $0.0865 resistance level against the US dollar. The price is trading above $0.0870 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.0850 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.0885 or even $0.091. Tron Price Aims Higher…

Upbit’s Singapore Unit Receives In-Principal Nod from MAS

“We are incredibly proud to receive the IPA from MAS, a globally renowned financial regulator. This approval reflects our unwavering commitment to building trusted digital asset businesses in Singapore. Through engaging collaboration with the regulator, businesses and communities, we will contribute to further establish Singapore as the leading hub for the next generation of financial businesses,” Azman Hamid, Chief Compliance Officer of Upbit Singapore, said. Source InPrincipalMASNodReceivesSingaporeUnitUpBits CryptoX Portal

Australia Proposes New Licensing Regime for Crypto Exchanges, Aims for Draft Legislation by 2024

“Australia has been waiting for certainty over digital asset regulation so it can seek to catch up with the rest of the world,” Michael Bacina, digital asset lawyer at Piper Alderman and Chair of Blockchain Australia told CoinDesk from the Summit. “The approach is consumer-protection centric, with a broad net set to capture many business models not currently regulated. NFT marketplaces holding customer assets could also require licensing.” Source