Day: February 20, 2024

CME to launch Euro-denominated micro Bitcoin, Ether futures

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The Chicago Mercantile Exchange (CME) announced the upcoming launch of euro-denominated micro Bitcoin and Ether futures, set for Mar. 18, pending regulatory clearance. This follows the successful launch of U.S. dollar-denominated micro Bitcoin futures in May 2021 and micro Ether futures in December 2021. CME had previously introduced regular euro-denominated Bitcoin and Ether futures contracts in August 2022, alongside options products for these cryptocurrencies. Micro futures contracts will be one-tenth the size of their respective underlying assets. This provides a more accessible option for investors seeking exposure to Bitcoin (BTC)…

XRP Refuses To Back Down As Crypto Analyst Identifies When Price Will Rally To $2

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Several analysts continue to make bullish predictions for the XRP token despite its lacklustre price action. This time, crypto analyst Dark Defender has identified emerging patterns that suggest that XRP could rise to $2 soon.  The XRP Bull Run Is Here Dark Defender mentioned in an X (formerly Twitter) post that the RSI (Relative Strength Index) for the XRP/BTC pair in the weekly time frame “stands in the same place as it did before the 2017 and 2021 XRP bull runs.” Going by the RSI indicator, he affirmed that the…

U.S. Treasury’s OFAC Bans Crypto Addresses Tied to LockBit Ransomware Group From Financial System

“The LockBit ransomware variant, like other major ransomware variants, operates in the ‘ransomware-as-a-service’ (RaaS) model, in which administrators, also called developers, design the ransomware, recruit other members — called affiliates — to deploy it, and maintain an online software dashboard called a ‘control panel’ to provide the affiliates with the tools necessary to deploy LockBit,” the DOJ press release said. Source

AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days

In the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $10.21 billion to their overall market value. This surge aligns with the unveiling of Openai’s latest innovation, a generative AI-powered application capable of converting text into video. AI Cryptocurrency Sector Explodes With 142% Growth Following […] Source CryptoX Portal

The Bitcoin “Big Money Algos” Are Here: Will BTC Breach $70,000?

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Mike Alfred, a Bitcoin investor and crypto commentator, thinks the “big money algos” are back and predicts the world’s most valuable cryptocurrency will rally to record fresh February 2024 highs but retest all-time highs. This uptick, Alfred says, is before the network finally halves its miner rewards.  The “Big Money Algos” As BTC Retests $53,000 Taking to X on February 20, the investor notes that “big money algos just flipped on” and that the uptrend remains. By the time Alfred posted on X, BTC was headed towards the $53,000 before slipping back…

Mastercard (MA) Teams Up With Swoo Pay to Offer Crypto Rewards in Emerging Regions

“In many emerging countries like Nigeria, Kenya, Philippines and Indonesia, there are billions of users who have MasterCard and Visa cards, but don’t have access to Google Pay,” Shubin said in an interview. “Another problem concerns countries with big market share of Huawei smartphones, since due sanctions from the U.S. government, there are no Google services on top of these phones.” Source

HKMA Issues Guidance for Firms Offering Crypto Custody

The collapse of FTX, Terra, and Three Arrows have led authorities to frame regulations or guidance to protect customers from inadequacies in the digital asset industry. The HKMA document says firms should hold clients’ digital assets in separate accounts segregated from the firm’s own assets in the event of insolvency. Companies should prevent the use of client assets for the firm’s accounts. Source

Solana, Chainlink Among Coins With Overheating Open Interest: Data

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Data shows Solana and Chainlink are among the top cryptocurrencies that have observed growth in Open Interest to relatively high levels. Solana & Chainlink Have Their Open Interest At Notable Values Currently According to data from the on-chain analytics firm Santiment, there has been a dramatic increase in interest in the derivative market for cryptocurrencies recently. The indicator of relevance here is the “Open Interest,” which keeps track of the total amount of derivative contracts for any given asset that is currently open on all centralized exchanges. When the value…