The U.S. Department of State has highlighted the relevance of recognizing bitcoin as a legal tender for the rebirth of tourism in El Salvador. In a recently released investment climate report, the department states that this factor has given significant publicity to El Salvador, contributing to its popularity as a tourist destination. U.S. Department of […] Original
“As a global financial centre and transport hub with a significant migrant workforce, Singapore remains a potential source of funds for terrorists and terrorist organisations abroad,” the report said. “Our strongest defence is our collective vigilance.” Source
Ether continues to underperform the wider crypto market following $152 million of outflows from ETH exchange-traded funds. Current cumulative flow for the ETFs since they started trading this week is negative $178.68 million. That’s mainly owing to withdrawals from Grayscale Ethereum Trust (ETHE), which converted to an ETF. “This situation is very similar to the bitcoin ETF product launched at the beginning of the year,” CoinShares analysts said in an emailed note. Outflows from the Grayscale Bitcoin Trust (GBTC), which converted from a closed-end structure into an ETF that allowed…
Lightning Labs, an institution dedicated to research and development related to the Lightning Network, Bitcoin’s second layer, has announced the rollout of Taproot Assets. This solution allows for issuing multiple tokens on top of it. The institution aims to capitalize on the popularity and volume of stablecoins to establish bitcoin as the global routing currency. […] Source CryptoX Portal
In a recent presentation, Linda P. Jones, a former Wall Street financial expert and author of the bestseller “3 Steps to Quantum Wealth: The Wealth Heiress’ Guide to Financial Freedom by Investing in Cryptocurrencies,” detailed her bullish outlook for Ripple, leveraging a valuation comparison with Coinbase and the potential of XRP. Why Ripple Could Be Massively Undervalued Jones began by noting Ripple’s present valuation on the Linqto investment platform at $7.5 billion—a stark contrast to its 2020 and 2022 valuations of $10 billion and $15 billion respectively. These figures were…
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Since testing the 50-day simple moving average support near $63,500, the leading cryptocurrency has bounced sharply to breach $67,000, CoinDesk data show, and is closing on a resistance line identified by the trendline connecting March and April highs. The so-called descending trendline proved a tough nut to crack on Monday – as well as when it last came into focus in May – becoming a level to beat for the bulls. Source
Japan’s SBI Holdings plans to create a new investment management company in collaboration with major U.S. asset manager Franklin Templeton by the end of the year. This joint venture will focus on managing digital assets. The new entity will be 51% owned by SBI Holdings and 49% by Franklin Templeton. This move aligns with the […] Source CryptoX Portal
Recent events have brought Solana (SOL) to the spotlight, drawing in both experts and investors due to its notable price gain. According to market expert Ali Martinez, the price of Solana is likely to see a remarkable growth of 900%, which will ultimately result in the price reaching $1,630. Related Reading Based on his prognosis, Solana might be about to perform better in the coming weeks or months. This is because it has recently displayed a pattern called a “bull pennant”, which in technical lingo usually means the price is…
Outflows from the Grayscale Bitcoin Trust (GBTC), the world’s largest bitcoin fund at the time, which converted from a closed-end structure into an ETF that allowed redemptions for the first time in 10 years, weighed on bitcoin’s price over the first weeks. Later, inflows to rival funds overcame the negative trend, propelling BTC to an all-time high in March. Original