Day: January 27, 2024

Ripple job listing has a key detail: ‘drive ETF initiatives’

Ripple (XRP) appears to be laying the groundwork for a future XRP exchange-traded fund (ETF). A recent job opening for a Senior Manager for Business Development at Ripple listed a key responsibility: “drive cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.” This has led some in the crypto community to wonder whether the blockchain payments company is aligning its strategy with the evolving crypto landscape. This development surfaces as Ripple navigates through a high-profile legal tussle with the U.S. Securities and Exchange Commission (SEC), which many speculate could…

Here Are The Major Drivers Behind The Bitcoin Price Recovery Above $42,000

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Bitcoin recently surged above $42,000, having traded below $40,000 for several days. This market recovery is believed to be a result of different factors, including recent revelations about the US economy.  Macroeconomic Factors That Contributed To The Recent Bitcoin Surge The personal income expenditures (PCE) price index, a leading inflation indicator, was released on January 26 and reported to have been lower than expectations. This suggests that inflation in the United States is cooling off, and experts predict that the Federal Reserve will likely reduce their aggressive monetary policies.  The…

Magic Eden aims to solve NFT fragmentation with new wallet

Magic Eden is gearing up for the launch of its multi-chain wallet launch, designed to address the fragmentation in the non-fungible token (NFT) and crypto markets. The goal is to provide a more seamless experience for users across different blockchain networks. Magic Eden cross-chain interactions In a recent post on the X platform, Magic Eden, an NFT marketplace, shared a teaser video with an accompanying text suggesting the launch of its multi-chain wallet on Jan. 29th. In November 2023, Magic Eden announced the release of a multi-chain compatible crypto wallet…

Image Generation (IMGNAI) raises VC, price spikes over 4%

Image Generation AI (IMGNAI) witnessed a substantial price increase following the announcement of a completed seed round of $1.6 million. The price of the IMGNAI token is up by 4.6% this week, according to CoinGecko. In the past year, it reached a price peak of approximately $0.024, marking a 595% increase.  Image Generation AI (IMGNAI) holds its own  The artificial intelligence (AI) token, IMGNAI, completed its seed funding round — spearheaded by top-tier venture capitalists. In the recent $1.6 million funding round, San Francisco-based Hack VC took the lead. Additional…

CBDCs are a threat to liberty: GOP candidate Vivek Ramaswamy

Vivek Ramaswamy, an ally of former President Donald Trump and one-time Republican presidential candidate, labeled the prospective digital dollar — Central Bank Digital Currency (CBDC) — as a threat to individual liberty. Ramaswamy and Trump’s Stand Ramaswamy, who earlier this month suspended his 2024 Presidential campaign and endorsed Trump, shared his apprehensions about CBDC in an interview with Bloomberg. “A central bank digital currency, I believe, is a threat to liberty in this country because it creates a mechanism for the government to be able to wipe out your bank…

Crypto Analyst Explains How XRP Could See Massive 4500% Jump To $27

Crypto analyst Egrag Crypto has once again reiterated his prediction that XRP will hit $27 soon. This time, he provided an analysis of how that will happen using XRP’s moving average as a point of reference.  How Price Will Rise To $27 Egrag suggested in an X (formerly Twitter) post that XRP could rise to $27 while analyzing the 21 Exponential Moving Average (EMA) on the monthly time frame. The analyst assessed price percentages that occur when XRP’s price is positioned either above or on the 21 EMA. Using this,…

Binance.US hit with regulatory setback in Florida and Alaska

Crypto exchange platform Binance.US faces ongoing challenges intensified by regulatory scrutiny, especially in Florida and Alaska, where its operations have been suspended. Alaska and Florida regulators deliver blows to Binance.US The Florida Office of Financial Regulation recently decided against Binance. US, known as BAM Trading under section 120.60(6) of the Florida statutes. This permits immediate suspension in case an operation is threatening public health, safety or welfare. The suspension seeks to protect the public’s interests as a result of findings that BAM Trading works posed an immediate danger. Binance.US has…

Key Requirements For Spot XRP ETF Approval Revealed Amidst 4500% Price Surge Target

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Following Bitcoin’s spot exchange-traded fund (ETF) approval on January 11, market speculation has grown around the possibility of similar investment vehicles for major cryptocurrencies, including a spot XRP ETF. However, certain requirements and regulatory considerations must be met before such a development can occur. Regulatory Prerequisites For Spot XRP ETF FOX reporter Eleanor Terret clarifies the matter, stating that launching an XRP spot ETF would first require the establishment of a futures ETF.  In the case of Bitcoin, the approval of spot ETFs was conditional upon the Securities and Exchange…

Bitcoin testing $20k range wouldn’t ‘surprise,’ analyst says

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Chris Burniske, a partner at Placeholder, a venture capital firm specializing in crypto, recently provided perspectives on the present condition and future path of the cryptocurrency market. If the price of BTC falls to “the mid-to-high 20s,” or within the $20,000 range, Burniske says he wouldn’t be surprised. Cautious optimism On the social media platform X, Burniske shared a comprehensive analysis of the market’s direction, highlighting key points as Bitcoin hovered around the $40,000 level. Burniske foresees consolidation and decline driven by complex factors such as crypto-specific elements, macroeconomic conditions,…