Day: January 19, 2024

Ripple CTO Breaks Down XRP Distribution And Who Controlled 99% Of Supply At Genesis

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The initial distribution of cryptocurrencies such as XRP has always been a hot topic for investors in the crypto community. A lot of times, the discussions stem from the fact that investors believe there was some foul play at Genesis, where some people received an unfair share of the token supply. The latest coin to come under scrutiny is the XRP token, with community members asking questions about some events that took place at Genesis. As a result, Ripple CTO David Schwartz has taken it upon himself to clarify these…

Radworks sees 41% gains in spite of stagnant market

Radworks takes the second spot on CoinGecko’s top gainers report with a 41.5% price surge in the last 24 hours, pushing the token to $2.60. Positive news around Radworks comes in light of altcoins, crypto coins, and tokens with volumes greater than US $50,000, seeing only marginal gains in the last 24 hours. According to a comparable report on CoinMarketCap, the world’s most-referenced price-tracking website for crypto assets, the top gainers for Jan. 19 were only seeing between 2% and 3% gains in the same period, with the global cryptocurrency…

Coinbase poised to win dismissal over SEC lawsuit

Litigation analyst Elliott Stein thinks Coinbase will win full dismissal of the SEC’s current lawsuit against the exchange. Stein also correctly predicted Grayscale’s landmark victory over the SEC last year, which set the motion for spot Bitcoin ETFs earlier this month. Coinbase’s argument, perceived as more persuasive, hinges on the investment needing to be in a business and not merely an ecosystem, and it should come with an enforceable obligation. The perspective gained traction following a precedent set by the Ripple case, where the sale of digital assets on public…

Until Bitcoin Retests $61k, The BTC Top Is Not In

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Despite recent dips in price, Bitcoin is still on track for further gains, according to BitQuant. Based on technical analysis, the analyst predicts that the world’s most valuable coin will likely top out at $61,000, not $50,000, as some analysts have suggested. Bitcoin Has Room For Growth, May Peak At $61,000 Sharing a screen grab on X, the analyst argues that based on Bitcoin’s history, prices tend to peak once it retests the 2X100 exponential moving average (EMA). So far, prices are lower, trading below $45,000, and the uptrend is valid…

Bitcoin and Ethereum correlation plunges to lowest since 2021

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Kaiko Research highlighted that the correlation between Bitcoin and Ethereum has dropped below its average of 0.71 for the first time since 2021.  This development comes amidst a broader market downturn, with BTC and ETH prices falling nearly 6% over the past week, currently at $40,991 and $2,463, respectively. Historically, BTC and ETH have demonstrated a strong correlation in their market movements. However, the recent divergence raises questions about Ethereum’s future trajectory, especially in light of its trade volume surge without corresponding signs of a rally in the derivatives market.…

Fidelity’s spot Bitcoin ETF reaches $1b inflows

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Fidelity’s Wise Origin Bitcoin Fund became the second spot Bitcoin ETF to surpass $1 billion in inflows, achieving this feat just five days into trading. Following closely on the heels of BlackRock’s iShares Bitcoin Trust (IBIT), the first of the newly approved BTC ETFs to hit the $1 billion assets under management milestone on Jan. 17, Fidelity’s FBTC accumulated $874 million in inflows up to that point. Provisional data shared on Jan. 19 by BitMEX Research on their X page indicated that Fidelity’s total inflows reached over $1 billion on…

Exploring the crypto exchange landscape in Australia

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Cryptocurrency can offer new opportunities for Australians to take control of their financial future.  As digital assets like Bitcoin and Ethereum gain mainstream adoption, more Australians are turning to crypto exchanges as the gateway to this new digital economy.  But with so many platforms available, how do you choose the right one?  This article explores the key factors in selecting a crypto exchange in Australia to securely buy, sell, and trade…

Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips

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Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the price of Bitcoin could take in light of the upcoming fourth BTC Halving. Potential Retracement For Bitcoin With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of those is Rekt Capital, who has weighed in on the particular issue and made a comparison to past trends. The crypto analyst shared his latest projections during one of his YouTube predictions videos for Bitcoin.…

Conflux reports 16% losses following Bitcoin L2 announcement

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Following a Jan. 18 announcement of a new L2 network that would run on top of the Conflux chain, CoinMarketCap reported that CFX saw 16.7% losses, currently at $0.1864. On Jan. 18, Conflux (CFX), a public layer-1 blockchain that was made to power decentralized applications (dApps), announced the launch of the EVM-Compatible Bitcoin L2 solution, which triggered an 8% surge. At the time, the BTC L2 was said to build off the hype surrounding inscriptions, ordinals, BRC-20 tokens, and the SEC’s approval of U.S. spot BTC ETFs, which was said…