Day: December 19, 2023

7RCC, Gemini to launch environment-friendly Bitcoin ETF

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A new player in the ETF market, 7RCC, is aiming to introduce an innovative, environmentally friendly Bitcoin fund.  7RCC Global will primarily invest in Bitcoin while allocating a significant portion of its portfolio to carbon-credit futures. The intent is to offer an investment solution that taps into the burgeoning Bitcoin market and addresses environmental concerns. Bitcoin has always been a hot topic for the environmental implications of its mining process. The mining procedure, essential for transaction verification and the generation of new Bitcoin, relies heavily on energy-intensive computer networks. The…

Bitcoin Price (BTC) Headed Higher in 2024 Thanks to Spot ETF

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Mainstream investors – whether at the individual or institutional level – to date have not had a “high bandwidth” compliant channel for putting money into bitcoin, said Saylor, and that’s all about to change with the spot ETF. This new vehicle, argued Saylor, is going to drive a demand shock for bitcoin which will soon be followed by a supply shock in the form of April’s halving event – at which point there will be just 450 bitcoin produced each day versus the current 900. Original

Long-Term Analysis Better For XRP Price, Crypto Enthusiast Says

Bill Morgan, a cryptocurrency enthusiast and lawyer, has underscored an insightful factor towards investing in the XRP token.  Bill Morgan On XRP Price Action The lawyer recently used X (formerly Twitter) to share his optimism about XRP’s price action. According to the analyst, traders and investors interested in the crypto asset’s price movement should concentrate on the long term. Bill Morgan’s post addressed yesterday’s volatility and how the cryptocurrency community perceived it. The X post was published in response to “Matt,” the Moon Lambo YouTube Channel host.  The host refuted…

Spot Bitcoin ETF approvals expected in January

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A K33 Research report said SEC approvals for spot Bitcoin ETFs in January are likely “nailed on” amid a flurry of updated S-1 filings from issuers like BlackRock. The United States Securities and Exchange Commission (SEC) is on track to sanction spot Bitcoin ETFs in early January following progressive talks with issuers over the preferred redemption model for these investment vehicles, according to K33 Research.  Cash creation is not the most efficient structure, but the filers’ updates are a further signal in favor of ETF approvals in the next three…

Ethereum Bearish Falling Wedge Pattern Appears, How Low Can Price Go?

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Ethereum has followed the general trend of Bitcoin over the last few weeks and when the asset dipped from its 2023 peak, so did the price of ETH. Following this decline in price, a worrying pattern has appeared on the ETH chart known as a falling wedge pattern. This was brought to light by crypto analyst Alan Santana, who has painted a grim picture of what this could mean for Ethereum. Ethereum Falling Wedge Pattern Is Bearish In the analysis posted on the TradingView website, Alan Santana explains that the appearance…

What to Expect With Bitcoin Next Year

In 2024, amid global financial uncertainty, Bitcoin’s stability could attract attention from individuals, institutions, and governments seeking to reduce chaos. Bitcoin is reaching record values against weak currencies, gaining support from global politicians, and being used more by people and businesses worldwide. Bitcoin’s growth is natural, without central control, and driven by millions of people worldwide who recognize its benefits. Bitcoin safeguards global monetary integrity, and sound money is a fundamental human right. Source

Shiba Inu Working With Web3 Domain Firm D3 to Soon Offer ‘.shib’ Domain

“Our partnership with D3 allows us to scale outside of the existing ShibArmy and give over 5 billion Internet users direct access to the SHIB ecosystem,” said Shytoshi Kusama, Lead Developer of Shiba Inu. “Bringing real domains to SHIB is a big deal, expanding our vision for digital identities within our decentralized ecosystem while driving long-term revenue generation within the ecosystem.” Source

Crashed Stablecoin Iron Bank Euro (ibEUR) Lacks Clear Repeg Path

The minor alternative stablecoin, which has an $11 million market cap, dropped from its normal price of $0.97 to as low as $0.39 Monday after a shakeup in ibEUR’s main trading pool left the asset’s markets imbalanced. At press time ibEUR had recovered to $0.72 after risk-prone traders piled in, hoping for a path back to – or at least closer to – its supposed Euro peg. Source

S&P’s Stablecoin Report Is a Vote of Confidence for Crypto

That said, of the eight stablecoins S&P reviewed, several received lackluster scores. Most notably Tether’s USDT, the largest stablecoin by market cap and most used crypto asset in terms of trading volume, was given the fourth-lowest score in range from 1 to 5. Meanwhile MakerDAO’s dai (DAI), popular across decentralized finance (DeFi), and the Justin Sun-backed TrueUSD, the fourth and fifth largest stablecoins, respectively, were also given low scores. Source