Cryptocurrency

Galaxy Digital, in partnership with Invesco, submitted applications for Bitcoin and Ethereum spot ETFs to the Securities and Exchange Commission (SEC) in the third quarter of 2023. The firm anticipates that the SEC’s approval of these ETFs, particularly those for Bitcoin, could occur as early as January 2024. This forecast aligns with a broader sense of optimism among investors and ETF analysts who are eagerly awaiting regulatory green lights for 12 major Bitcoin spot ETFs.Novogratz projects that following the anticipated approvals, 2025 will witness a surge in institutional investments, specifically targeting tokenization initiatives and wallet technologies. He underscored the critical role of dollar-backed stablecoins within the cryptocurrency ecosystem and advocated for a stablecoin that embodies American values.While discussing Ethereum’s future in this evolving landscape, Novogratz cautioned that an Ethereum spot ETF might be less attractive unless it can successfully incorporate staking rewards. He argued that without this feature, such an ETF could be considered inferior to direct ownership and staking of Ethereum. The CEO also highlighted the necessity for blockchains and their tokens to serve distinct purposes and provide practical applications to sustain their value over time.The crypto industry is now looking ahead to the SEC’s decisions regarding these ETFs. Should they be approved, it could mark a turning point, leading to an influx of institutional investors and potentially reshaping the trajectory of cryptocurrencies. With a focus on practical utility, innovation, and adherence to regulatory standards, the market is gearing up for what could be substantial growth in the next few years.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The exploiter behind the $116-million theft of assets from Mango Markets will face trial in April next year after the accused convinced the judge to postpone the fraud trial to April 8, 2023. The Aave protocol had to pause multiple markets earlier after reports of a feature-related bug.Continue Reading on Cointelegraph More

EMH is a controversial theory that the researchers claim contributed to the development of models capable of outperforming the hodl strategy by nearly 300% in simulated crypto portfolios. Continue Reading on Cointelegraph More

The Open Platform (TOP), the Dubai-headquartered investment platform affiliated with TOP Labs and Wallet, announced the global rollout of the Wallet crypto bot on Nov. 10.Continue Reading on Cointelegraph More

The first checkpoint of Bitcoin’s current bullish run was $34,300, a level it has surpassed with confidence, bolstering the market’s sentiment. The journey to $40,200, however, is more than just wishful thinking; it is underscored by a Fibonacci retracement level — a tool used by traders to identify potential reversal levels. approach toward $40,200 is also in line with the psychological tendency of traders to aim for round numbers, which often act as resistance or support levels due to common trading strategies.Source: TradingViewThe chart reveals a 275-day bottoming pattern, indicating a solid base from which Bitcoin has initiated its ascent. This pattern, often seen as a bullish setup, suggests a reversal from previous downtrends, providing a foundation for potential continued upward movement. Moreover, the 200-day moving average (MA) — a key indicator watched by institutional investors — further reinforces the bullish outlook as maintains its trajectory above this line.The next resistance level beyond $40,200 is pinpointed at $44,300, marking a more substantial test of Bitcoin’s momentum. This level is accentuated by historical price actions where Bitcoin has faced resistance in the past, making it a crucial battleground for bulls and bears.In conclusion, while Bitcoin’s “next stop” at $40,200 seems within reach, investors should remain vigilant. The path to higher valuations is fraught with potential pullbacks and volatilities inherent in the cryptocurrency market. A break above $40,200 could pave the way for further gains toward $44,300, but this journey is contingent upon sustaining current momentum and favorable market conditions.This article was originally published on U.Today More

The Organisation for Economic Cooperation and Development (OECD) published the CARF in 2022. Developed from an April 2021 mandate from the G20, the CARF framework requires reporting on the type of cryptocurrency and digital asset transaction — whether through an intermediary or a service provider.Continue Reading on Cointelegraph More

The initiative is crafted for students aged 7 to 17, and the Code Clubs represent a series of extracurricular artificial intelligence (AI) programming clubs aimed at fostering digitally literate and innovative young minds in Nigeria.Continue Reading on Cointelegraph More

In contrast, a separate transfer of 100 million XRP between two anonymous wallets was observed, which could indicate a bullish outlook by some market participants. Despite these conflicting signals, XRP’s price dropped by 6.68% to $0.6503, and its market cap decreased by 6.56% to $34.87 billion. This downturn comes even as XRP had shown an upward trend of 8% over the past week and an impressive gain of over 30% in the last month.The price movements coincided with the conclusion of the Ripple Swell conference, which did not feature the anticipated announcement of a Ripple IPO. The absence of this news may have contributed to investor uncertainty and the subsequent impact on XRP’s price.This bearish turn follows a period of optimism spurred by a court ruling in favor of Ripple Labs, where Judge Analisa Torres stated that XRP’s sales on secondary markets do not constitute securities transactions. Before the recent decline, XRP had reached a high of $0.72, buoyed by this legal development.Despite the current dip in value, some market observers maintain high hopes for a swift recovery for XRP, bolstered by technological advancements on the XRP Ledger (XRPL) that promise real-world utility. As the market digests these developments and their implications for Ripple and XRP, investors are closely watching for signs of stabilization or further movement in the cryptocurrency’s price.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More