However, tokenization requires “additional” technological expertise, the report’s authors warned. Investment funds come with their risks stemming from things like the underlying assets and fund management. Tokenized funds could bring additional risks connected to DLT, according to the report. Source
A transaction involving a whopping 25.6 billion XRP (valued at nearly $15 billion), nearly half of the total circulating supply of approximately 54.26 billion, raised alarm within the crypto sector in the late evening of January 14. The transfer was reported to have originated from an unknown wallet to the cryptocurrency exchange Bitfinex. Were 25.6 Billion XRP Really Moved? However, further investigation revealed this to be a failed attempt at exploiting the “Partial Payments” function of the XRP Ledger, as confirmed by Paolo Ardoino, Chief Technology Officer (CTO) at Bitfinex.…
Venezuela is ending its Petro cryptocurrency on Monday, more than five years after it was first launched, according to multiple reports. Source
According to Scaramucci, Bitcoin should benefit immensely from the spot Bitcoin ETFs the SEC recently approved for trading. Anthony Scaramucci has predicted that Bitcoin (BTC) will hit a new all-time high (ATH) before the end of 2024. According to the chief executive officer (CEO) and founder of alternative asset management firm SkyBridge Capital, Bitcoin will hit the new ATH spurred by activity from the recent approval of spot Bitcoin exchange-traded funds (ETFs). Scaramucci talked about the possibility of a new ATH for Bitcoin while speaking in a CNBC interview. The…
The cryptocurrency fear and greed index has returned to neutral after a surge last week. According to Alternative.me, on Jan. 15, the fear and greed index fell to October 2023 levels. The drop came days after the first spot Bitcoin (BTC) ETFs were approved in the United States. According to the index, Bitcoin’s market sentiment score is 52 out of a possible 100, the lowest since Oct. 19 last year, when BTC traded at an average daily price of approximately $31,000. Source: Alternative.me Notably, just a few days ago, the…
The Bitcoin market is experiencing a period of adjustment following the much-anticipated launch of US spot ETFs last week. After a surge to a two-year high near $49,000, the leading cryptocurrency has pulled back over the past four days, currently trading at $42,588 with a market capitalization of $834 billion. This correction presents an opportunity to assess the underlying dynamics and potential future trajectories of the digital asset. ETF Approval Hype Fades: Markets React The initial excitement surrounding the ETF approval was palpable, fueling a rapid price increase as investors…
The motive was to seemingly trick Bitfinex into taking the transfer as real, which could have possibly opened the door to a hack. However, Bitfinex’s systems flagged the transfers as a “partial payment,” an XRP Ledger feature that allows a payment to succeed by reducing the amount received. Source
Per Thielen, investors in Grayscale’s ETF, the Grayscale Bitcoin Trust (GBTC), switching to other low-fee options will likely weigh over bitcoin’s price. While Grayscale charges 1.5%, other asset managers like BlackRock charge 0.25%. GBTC, formerly a close-ended trust, is one of the largest bitcoin holders, with a coin stash of over $27 billion. GBTC shares began trading in 2013 and became redeemable on Jan. 11. Original
Chainlink’s LINK price is moving higher above the $15.00 resistance. The price is now up over 5% and might aim for a move toward the $18.00 resistance. Chainlink price is showing positive signs above $14.50 against the US dollar. The price is trading above the $15.00 level and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could rally further if it clears the…
Ethereum price struggled to clear $2,720 and corrected gains. ETH is now struggling to stay above the key $2,440 support zone and might extend losses. Ethereum climbed further higher toward $2,720 before the bears appeared. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a downside thrust if it breaks the $2,440 support zone. Ethereum Price Revisits Support Ethereum price outpaced…