Solana opened this month on high momentum, consistently posting notable gains over the past few days. SOL scored a weekly high of $45.36 on November 1 before receding. But after a brief decline to the $40 price level, the bulls have regained momentum, intent on pushing closer to $50 this time. But it remains to see if SOL bulls have enough momentum to rally that high. SOL Bucks All Odds As It Vies For Higher Highs Despite the high volatility in the altcoin market, Solana (SOL) has refused to back…
Day: November 8, 2023
U.S. SEC Said to Open Talks with Grayscale (GBTC) on Spot Bitcoin (BTC) ETF Push
“There are still things that have to be worked through,” Salm said in an interview, also noting that others among the applicants for bitcoin ETFs – a group that includes financial giants BlackRock and Fidelity – seem to be making progress in SEC talks with their own registrations. “Overall, it’s been good engagement, and it’s a matter of when, not a matter of if anymore.” Original
Progmat stablecoin platform takes shape as wallet, liquidity providers join
The Progmat Coin ecosystem is taking shape in Japan. With a market maker, wallet provider and cryptocurrency exchanges on board, Progmat and Mitsubishi UFJ Financial Group (MUFG) hope to launch two stablecoins in the summer of 2024. Stablecoin platform Progmat Coin, MUFG and wallet provider Ginco have begun a study with the goal of issuing a yen-denominated XJPY stablecoin and dollar-denominated XUSD stablecoin, Progmat said in a statement. This is in addition to the platform’s function enabling stablecoin issuance. #japan #stablecoin #crypto #payments@ginco_inc, Mitsubishi UFJ Trust and Banking, and #Progmat…
SEC yet to indicate approval timeline, says Grayscale CEO on spot Bitcoin ETFs
Grayscale CEO Michael Sonnenshein said his firm has not received any word about approval for spot Bitcoin ETFs from the Securities and Exchange Commission (SEC) leading up to a window where all 12 applications could receive the green light. The SEC has not disclosed when it might authorize issuers like BlackRock and ARK Invest to list exchange-traded funds (ETFs) that offer direct exposure to spot Bitcoin prices, said Sonnenshein on Nov. 8. Grayscale’s boss added that the firm could litigate if the SEC rejects its application. Sonnenshein shared these remarks…
Bitcoin Pushes Towards $36K Ahead of Last Approval Period For Spot ETFs This Year
The Securities and Exchange Commission (SEC) has one last short window, an eight-day period starting Thursday, if it wants to approve all 12 spot bitcoin (BTC) ETF applications this year, Bloomberg analysts wrote in a note on Wednesday. Original
Former Cantor leaders launch crypto lending service ahead of potential Bitcoin ETFs
Digital Prime Technologies, founded by former Cantor Fitzgerald executives, has launched a crypto lending platform named Tokenet, aiming to capitalize on the potential U.S. regulatory approval of Bitcoin ETFs. Digital Prime Technologies, a company launched by former Cantor Fitzgerald executives, has entered the crypto lending market with a new platform named Tokenet. The platform is aimed at positioning itself for a boom expected with the potential approval of Bitcoin exchange-traded funds (ETFs) in the United States. Already serving clients such as Xapo Bank, Tokenet allows the lending of digital assets…
Third Ever XRP Bull Signal Is Back: What To Expect
XRP is trading at roughly 70 cents per token, but if a recent high timeframe bullish crossover is just the start of the upside to come, the cryptocurrency could be gearing up for an explosive rally. Fishing For New All-Time Highs In XRP XRP is among a few major cryptocurrencies that failed to set a new all-time high in 2021 above its 2018 peak. The lack of strength three years following the still-standing price record could be due to the fact 2018 capped off a 50,000% surge. When that surge…
Bitcoin Indicator Predicts Bullish Trends
Bitcoin (BTC) enthusiasts are keeping a close eye on the latest market trends, and the recent insights from Glassnode’s co-founders, Jan Happel and Yann Allemann, have stirred up a new wave of excitement. The duo, known by their Negentropic handle on the social media platform X, have shared some compelling perspectives that shed light on the current dynamics of the BTC market. Bitcoin’s market demand has outpaced its supply, a clear sign of robust positive momentum. In just one day, a whopping 700,000 new BTC addresses joined the network. This…
NFT sales jump to $129M, OpenSea layoffs and Elon Musk slams NFTs: Nifty Newsletter
In this week’s newsletter, we dive into the dynamic world of nonfungible tokens (NFTs) and their impact on the digital landscape, as NFT sales have skyrocketed to an impressive $129 million in November, according to data from Nansen. Despite the surge in sales, OpenSea has laid off a substantial amount of staff as it prepares to launch version 2.0 of its platform, and Elon Musk unintentionally made a case for Bitcoin Ordinals. Meanwhile, an OpenSea investor has taken a 90% markdown on their stake in the platform, and don’t forget…
LidoDAO launches official version of wstETH on Base
Lido’s governing body has approved the deployment of Lido’s Wrapped Staked Ether (wstETH) to Coinbase’s Base network, according to a Nov. 8 announcement. The token is now live and can be traded or used in decentralized finance (DeFi) applications on the Base network. Lido is on @BuildOnBase You can now bridge your staked ETH to Base. https://t.co/JmmFeVwNnN pic.twitter.com/R9vN2XGs2g — Lido (@LidoFinance) November 8, 2023 Lido is a liquid staking protocol that allows users to stake some cryptocurrencies while simultaneously using them in DeFi applications. It does this by issuing a…