Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary, Ripple Markets Asia Pacific, to further scale its On-Demand Liquidity. The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries.Continue Reading on Coin Telegraph More
On June 3, the Kakarot team announced it had received new backing from Ethereum co-founder Vitalik Buterin, Ledger co-founder Nicholas Bacca and Starkware. Continue Reading on Coin Telegraph More
Over the past week, Fidelity, Invesco, Wisdom Tree and Valkyrie have followed investment giant BlackRock (NYSE:BLK) in applying for a Bitcoin spot ETF with the United States Securities Exchange Commission, which some analysts believe is the reason for Bitcoin’s 19% price surge to $30,240 since June 16.Continue Reading on Coin Telegraph More
The cryptocurrency surged as much as 14.4% over the past three days, briefly hitting an over two-month high before steadying at $30,300 by 23:32 ET (03:32 GMT) on Thursday. No. 2 crypto Ethereum rose nearly 6% on Thursday, hitting a near two-month high.The rally comes amid renewed interest in the token after BlackRock Inc (NYSE:BLK), the world’s largest asset manager, applied for an ETF that will directly track Bitcoin. A slew of other institutional investors also subsequently applied for Bitcoin ETFs, including WisdomTree (NYSE:WT), Valkyrie, and Citadel.Coinbase (NASDAQ:COIN) is set to act as custodian for the Blackrock ETF. Increased institutional buying was one of the biggest catalysts of a 2021 crypto rally, which had pushed Bitcoin to record highs. But a series of high-profile bankruptcies, rising interest rates, and regulatory pressure saw a bulk of institutional money pull out through 2022.The ETF filings pushed up some hopes of resurgent institutional interest in the crypto industry, as it grapples with a U.S. regulatory crackdown against its biggest players. The Securities and Exchange Commission launched lawsuits against major exchanges Binance and Coinbase, while also leveling allegations of fraud and wash trading against Binance and its founder Changpeng Zhao. The lawsuits had triggered steep losses in the crypto market, pulling Bitcoin to three-month lows earlier in June. They also triggered a slew of withdrawals from centralized crypto exchanges in the U.S., after Binance warned that it was set to lose support from traditional banking partners. Despite recent gains, Bitcoin remained well below the near $70,000 record highs seen in late-2021. Crypto trading volumes have also slumped in recent weeks, as sentiment was rattled by the SEC lawsuits. More
Valkyrie is an old hand at Bitcoin (BTC) futures ETFs. It launched the second BTC futures ETF in the U.S., the Valkyrie Bitcoin Strategy ETF (BTF), in October 2021 and launched the Valkyrie Balance Sheet Opportunities (VBB) in December of that year. It liquidated VBB in October 2022. Valkyrie also runs the Valkyrie Bitcoin Miners ETF (WGMI), which tracks securities of companies that derive their revenue or profits from BTC mining.Continue Reading on Coin Telegraph More
These announcements boosted investor sentiment, resulting in a short squeeze and additional buying interest from traders who may have been waiting on the sidelines. The slew of events over the past few days has increased buying interest in Bitcoin, which sent its market dominance to above 50% on June 19. Continue Reading on Coin Telegraph More
Bitcoin abruptly increased in price to around $138,070, according to a screenshot posted by , before dropping to around $28,000. BTC/USDT Chart, Courtesy: Wu Blockchain , “The BTC/USDT trading pair BTC price on Binance US briefly rose to 138,070 USDT and then quickly returned to the normal. Since being sued by the SEC, market makers left, and the market depth of Binance US has dropped by 78.8%.”Market depth is a term used to describe how liquid a financial market is. According to a Kaiko analysis, Binance.US’s market depth has decreased compared to May, indicating that market makers and traders have left the exchange.The market share of Binance.US has decreased in comparison to other exchanges accessible to customers in the United States, falling to 1.5% from 8% at the beginning of this year, according to a report published on Tuesday by Kaiko.The study also reveals a reduction in Coinbase (NASDAQ:COIN)’s market share, the largest cryptocurrency exchange in America, from 56% to 50.5%.At the time of writing, BTC was up 8.61% in the last 24 hours to $29,094. According to data, the US-based exchange reported a trading volume of almost $250 million on June 6. This has fallen by nearly 94% to just over $13 million, marking the lowest trading volume in almost a year. After a U.S. district judge approved a consent order, Binance and the United States Securities and Exchange Commission (SEC) came to an arrangement to prevent a full asset freeze on the platform and preserve customer assets there.This article was originally published on U.Today More
Last month, cryptocurrency exchange OKX also announced support for BRC-20 assets via the OKX Wallet app. Many centralized and decentralized exchanges have also rolled out BRC-20 support. Continue Reading on Coin Telegraph More
