Cryptocurrency

The chart presents a downtrend with Ethereum losing ground to Bitcoin, reflected by the downward slope of the 50-day (blue line) and 200-day (black line) moving averages. This suggests that, in the short to medium term, Ethereum has been underperforming compared to the original cryptocurrency, Bitcoin.This underperformance can be linked to a subdued period for key market drivers, such as decentralized finance (DeFi) and non-fungible tokens (NFTs). With these sectors facing a downturn, Ethereum’s price has not had the catalysts that could propel it forward, especially in comparison to Bitcoin, which often acts as a “safe haven” within the crypto market during times of uncertainty.However, the development activity within Ethereum’s ecosystem tells a different story. Despite the lack of immediate market drivers, the consistent work being done on the platform could be laying the groundwork for a strong rebound. For traders, the ETH/BTC chart is a vital tool for tracking sentiment and volatility. A declining ETH/BTC ratio could indicate a period of risk-off sentiment where investors flock to Bitcoin’s relative safety. Conversely, a rising ratio might signal a risk-on environment where traders are more willing to bet on Ethereum’s growth prospects, which might also hint at the potential surge of altcoins in general.Given the current chart trends, investors and traders may look for signs of stabilization or reversal in the ETH/BTC ratio as indicators of Ethereum’s resurgence. Such a turnaround could be precipitated by a revival in the DeFi and NFT markets or by new developments and upgrades within the network.This article was originally published on U.Today More

The decision to list GOAU in Peru follows the firm’s successful introduction of the Jets ETF on the Lima exchange in December 2020. GOAU’s quantitative model is designed to select stocks based on financial stability and return on investment criteria, offering Peruvian investors specialized access to gold mining companies and royalty companies. The fund specifically aligns with significant players in the industry, such as Franco-Nevada and Wheaton Precious Metals (NYSE:WPM), which have operations in Peru.In addition to this strategic expansion, U.S. Global Investors has been actively managing its share repurchase program. In November 2023, the company significantly accelerated its efforts by acquiring 44,757 shares for $128,000 — an 80% increase from purchases made in the same month of the previous year.The recent developments reflect U.S. Global Investors’ commitment to providing innovative investment solutions across various asset classes, including digital assets.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The unusual activity created a visual anomaly on the charts, disrupting the mostly dull market performance. Such events can trigger stop-loss orders from a multitude of traders, potentially leading to a cascade of buy and sell orders that amplify the currency’s volatility. This instance with XRP might have represented a significant liquidity hunt, where large orders target pockets of liquidity found at traders’ stop-loss levels before the price returns to its average trading range.Recently, has been showing a mixed bag of price performance, trading sideways with no clear direction. The presence of such market anomalies, particularly those suggesting market manipulation, can often serve as a precursor to a larger price correction. Traders and investors might interpret these movements as a signal to proceed with caution, as it indicates a market environment that is currently unstable and could turn bearish.The chart provided shows Solana’s solid performance, as the price maintains its position well above crucial moving averages. This steadfast performance suggests that the digital asset is gearing up for a significant breakthrough. An analysis of the chart reveals that the price action has formed a consistent series of higher lows, an indication of growing confidence among buyers and a potential precursor to a sustained bull run.Should Solana breach its current consolidation zone, the likelihood of a continued price breakthrough is strong. The cryptocurrency’s resilience and steady climb indicate that it might not only sustain its current level but is also poised to ascend toward more ambitious price targets. Investors are keenly watching for signs of a breakout, which could propel closer to its previous all-time highs.The market sentiment around Solana is buoyed by its robust ecosystem and the increasing adoption of its blockchain for various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs). This foundational strength, combined with favorable technical indicators, suggests that Solana is cutting through the market noise with a clear upward rally.The current price level is particularly crucial. Bitcoin is at a juncture that has previously acted as a significant psychological and technical barrier. A breakthrough at this level could confirm sustained bullish momentum, potentially establishing new support zones that could serve as launchpads for further gains. However, the price action also shows extended wicks on the upper side of recent candles, indicating rejection at higher levels, which might precede a .Furthermore, the trading volume has been inconsistent, with significant spikes on upswings but not consistently supporting the rally. This divergence between price and volume often warns of an upcoming price reversal. Market participants are also keeping a wary eye on macroeconomic indicators and regulatory news that could affect market sentiment and impact Bitcoin’s trajectory.This article was originally published on U.Today More

Bitcoin Core version v26.0 can now be accessed from the official Bitcoin Core website. As stated in a release note that outlines changes and offers instructions on how to upgrade, the latest Core version v26.0 release includes new features, various bug fixes and performance improvements, as well as updated translations.Notable changes include P2P and network changes, which saw experimental support for the v2 transport protocol defined in BIP324 added.Also, nodes have multiple reachable networks, which would now actively try to have at least one outbound connection to each network.This is expected to improve individual resistance to eclipse attacks and network-level resistance to partition attacks.A new RPC (NYSE:RES), “submitpackage,” has also been added, which can be used to submit a list of raw hex transactions to the mempool to be evaluated. The ability to create legacy wallets has also been removed.The preceding Bitcoin Core version 25.0 was released in May of this year.Individuals and organizations can settle bills in Bitcoin or in the Tether stablecoin by scanning a QR code, which is already available on regular Swiss invoices, according to Lugano officials.Lugano, located in the country’s south near the Italian border, has joined other Swiss government organizations in accepting cryptocurrency payments, including the city and canton of Zug and the town of Zermatt.This article was originally published on U.Today More

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Bitcoin is single-handedly responsible for this bullish trend on the market as its sustained growth all year round and over the past quarter has specifically changed the fortunes of altcoins, but much more has helped it expand its dominance across the board. With the current outlook, Bitcoin now sits at an inflection point, with divergent viewpoints on whether it will continue rising or make a correction.Both outcomes are likely, but according to the “extreme greed” sentiment, we may likely see traders enter the market for Fear of Missing Out (FOMO) in case the coin prints some more impressive surges. While it is arguably hard to predict how high Bitcoin’s price will end the year, one certainty is that the will grow as we approach the early January approval window date, and as such, drive price action.With the outlook of Bitcoin, tons of analysts have weighed in on what the price of the coin might be moving forward. One of the most popular such predictions in recent times came from popular investor and Blockstream CEO Adam Back, who noted that the rally .With a 90% probability projection that a spot Bitcoin ETF will be approved by the SEC, the Bitcoin extreme greed designation might stay for much longer.This article was originally published on U.Today More

This article was originally published on U.Today More

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, played a critical role as a major anchor investor in this pioneering initiative. This launch marks a key milestone for CSOP Asset Management, a subsidiary of China Southern Fund Management, reflecting the growing interest in strengthening economic relationships between regions.Hong Kong’s Chief Executive John Lee has been actively pursuing closer ties with Middle Eastern countries, particularly Saudi Arabia, to spur economic growth. The Securities and Futures Commission’s Christina Choi emphasized the importance of regulatory collaboration to introduce more Hong Kong funds into the Saudi market. Meanwhile, Tony Wong from CSOP Asset Management noted the balanced origins of investment in the new ETF and anticipated an uptick in market liquidity.In a related development, discussions are underway between the Shenzhen Stock Exchange and Saudi Tadawul Group to create an ETF Connect scheme. This scheme would facilitate cross-listing opportunities for ETFs on Chinese and Hong Kong exchanges, further integrating the financial markets of both regions.The concerted efforts by various stakeholders underscore a strategic push to enhance financial cooperation and market access across continents. The introduction of the CSOP Saudi Arabia ETF is expected to open new avenues for investors and contribute to the dynamic landscape of international finance.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More