Day: January 26, 2024

US CBDC debate heats up amid elections. Does the country need a digital dollar?

During the 2024 presidential race, the discussion on a U.S. CBDC becomes more intense. Candidates’ contrasting views mirror wider concerns about privacy and government control. As of Jan. 2024, the situation regarding central bank digital currencies (CBDCs) in the U.S. is characterized by caution and gradual progression, especially when compared to the advancements made by other countries.  Currently, 11 countries have fully implemented digital currencies, while China, India, and several other countries are in the pilot phase. Source: Atlantic Council In the U.S., the development of a retail CBDC (direct-to-consumer)…

Analyst Forecasts Potential Price Surge To $11

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Amid the general decline surrounding the entire cryptocurrency market, XRP has been observed as one of the most affected tokens, with its price falling as low as $0.51 at a swift rate. Potential Price Surge For XRP The price of XRP has been witnessing a significant bearish trend for quite some time now. This has led to several speculations from market analysts about the token’s future. However, a well-known crypto analyst, XForceGlobal, has predicted a rally for XRP that could take the asset to the pivotal $11 price mark. The…

JPMorgan reports GBTC sell declining, highlights ETF record outflows

Analysts at JPMorgan have indicated a potential easing in the selling pressure on Bitcoin, as the bulk of profit-taking from the Grayscale Bitcoin Trust (GBTC) appears to be concluding. In a market report released on Jan. 25, a team led by Nikolaos Panigirtzoglou, JPMorgan’s market strategy managing director,”GBTC profit taking has largely happened already.” The assessment suggests that the primary factors influencing Bitcoin’s price fluctuations, specifically those linked to GBTC, might be diminishing. Grayscale’s fund has been trading below its net asset value since early 2021. Analysts attribute the $4.3…

ARK Bought $62.3M Worth of Own ARK 21Shares Bitcoin ETF (ARKB) in Last Week; Sold $42.7M of ProShares Bitcoin Strategy (BITO)

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Axiom Secures $20 Million in Series A Funding for Blockchain Data Access Innovation

Axiom, a smart contract platform, has successfully secured $20 million in a Series A funding round, according to official blog. The funding round was led by prominent crypto-focused venture firms Paradigm and Standard Crypto, with additional investments from Robot Ventures and Ethereal Ventures. This milestone marks a crucial step in Axiom’s mission to revolutionize the accessibility of authenticated data on blockchain networks. At the core of Axiom’s strategy lies the innovative use of zero-knowledge cryptography. Unlike traditional consensus mechanisms that require all nodes to agree on a state of data,…

Head Fund Guru Predicts ‘Opportunity Of The Year’

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Charles Edwards, the founder of hedge fund Capriole Investments, offered an in-depth analysis of the Bitcoin market yesterday. His review offers a granular perspective on the aftermath of the historic ETF launches, the pivotal role of major players like Grayscale, and the interplay of market mechanics shaping Bitcoin’s trajectory. Bitcoin Market Summary: ETF Launch Edwards acknowledged the ETF launches as a pivotal moment, characterizing it as “ETF Mania.” He emphasized the hindsight realization that the ETF launch triggered a short-term “sell the news event.” Edwards elucidated, “A portion of this…

BNB, Avalanche, and Ordinal fluctuate as Pullix rallies in presale

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The crypto market might rally in 2024. Before then, investors and analysts are exploring Binance Coin (BNB), Avalanche (AVAX), Pullix (PLX), and Ordinals (ORDI). BNB price forecast  BNB is trending higher and firm when writing.  According to CoinMarketCap, BNB rose from a 7-day low of $306.31 to a high of $321.09. The coin is also up 16.3% in the past 30 days.  In the short to medium term, BNB…

Matrixport predicts challenging Q1 for Bitcoin as GBTC investors keep capitalizing

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Singapore-based crypto asset management firm Matrixport says Q1 will be a challenging quarter for Bitcoin, although anticipates a positive outlook by the end of 2024. As Bitcoin (BTC) fell back to the $39,000 area, the largest cryptocurrency by market capitalization is likely to face a challenging quarter ahead, according to a recent report from Matrixport. Matrixport highlighted that institutional interest in a spot Bitcoin exchange-traded fund (ETF) was not as robust as initially anticipated. Additionally, investors in Grayscale‘s Bitcoin Trust are seemingly capitalizing on the price gains of GBTC, contributing…

Over 12 Million SHIB Vaporized

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The Shiba Inu meme coin community is currently abuzz with a palpable sense of excitement, courtesy of two key developments: a surge in token burning and promising advancements in the Shibarium layer-2 solution. While the cryptocurrency market is inherently volatile and unpredictable, these recent developments present a potential trajectory for Shiba Inu’s long-term growth and stability. Shiba Inu’s Burning Surge: Impactful Trends Shiba Inu has ignited a fervent blaze of token burning, sending ripples across the cryptocurrency landscape. In the span of just 24 hours, the token witnessed an astounding…

Analyst Highlights 3 Key Factors Pointing To A Price Boom

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Michael van de Poppe, a prominent crypto analyst, recently outlined three key factors that could herald a bullish phase for Ethereum, the second-largest crypto by market capitalization. One crucial factor he identifies is Bitcoin’s current behavior. The analyst pointed out that as the market leader, Bitcoin’s recent signs of bottoming out tend to precede altcoin rallies, hinting at a potential upswing for Ethereum. Moreover, Van de Poppe highlights the growing anticipation surrounding spot Ethereum exchange-traded funds (ETFs). According to Van de Poppe, the increasing buzz about these spot ETFs is…