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Amid its recent prediction for Bitcoin (BTC) to reach $100,000 next year, Standard Chartered has also forecasted that an eventual Spot Bitcoin ETF will drive 165% price gains in 2024. Indeed, the international banking group has identified the product to lead the asset’s massive surge. The US Securities and Exchange Commission (SEC) is currently reviewing more than a dozen spot Bitcoin ETF applications. Subsequently, an eventual approval would be the first of its kind in the United States. Moreover, it would certainly catapult the asset, bringing it closer to Standard Chartered’s lofty expectations for its performance next year. Also Read: Bitcoin (BTC): Standard Chartered Predicts $100,000 Price in 2024 Standard Chartered Predicts Massive Gains to Come From Spot Bitcoin ETF Approval For much of this year, the potential approval of a spot Bitcoin ETF has dominated the digital asset sector. With asset management firms like BlackRock and Fidelity seeking approval, i...

Despite the temporary setback, Bitcoin (BTC) has briefly managed to break the barrier at $38,000 a couple of times in the last 24 hours, and further bullish advances seem more likely as the flagship decentralized finance (DeFi) asset approaches its halving event in 2024. Specifically, Bitcoin has now traditionally demonstrated exceptionally bullish strength in the periods approaching the halving , as well as after the event itself, according to the historical Analysis published by cryptocurrency market analyst Trader Tardigrade in an X post on November 30. Indeed, considering these movements, the crypto trading analyst expects the maiden cryptocurrency to grow toward $50,000 as the halving approaches, after which it would pick up the pace and kick off a rally that could lead it to $250,000 or beyond, as demonstrated in the chart pattern Analysis . Bitcoin pre & post halving bull run analysis. Source: Trader Tardigrade At the same time, another pseudonymous crypto speciali...

In a noteworthy development for the digital asset investment sector, F asset , an innovative platform, has successfully secured a Virtual Asset Service Provider (VASP) license to operate in Dubai . This recent accomplishment positions F asset as a significant player in the region. It enables the platform to serve institutional, qualified, and retail investors. The issuance of this license, documented on Dubai ’s public register, signifies the completion of a meticulous three-stage process. It includes a provisional permit, a preparatory license, and ultimately, the coveted operating license. Strategic Approach of Fasset Fasset embarked on its journey to obtain a comprehensive operational license in Dubai with a strong commitment to innovation and ethical financing. In 2020, the platform garnered attention by announcing zero-fee trades for users in six Gulf Region countries. Concurrently, it launched what it acclaimed as the “world’s first operating system built on the E...

Ripple ’s XRP has recently undergone a notable surge, registering a 3% increase in the last 24 hours and surpassing the $0.60 threshold. Analysts are now predicting further significant rallies for this digital asset, sparking enthusiasm among investors. Adding to this positive sentiment is OKX’s recent disclosure, unveiling its 13th reserve certificate with an impressive total user asset value of $14.5 billion, as of the snapshot taken on November 23. OKX’s Strong Support for XRP A noteworthy aspect of OKX’s report is the exchange’s assurance that all XRP tokens held by users are robustly backed by its reserves, boasting an impressive 104% coverage. This assurance spans a substantial 219,171,917 XRP tokens, equivalent to an extraordinary value of $134.8 million. This transparent backing establishes a solid foundation for the ongoing positive momentum of XRP. Insights from ChatGPT on XRP Price Amidst the growing anticipation within the XRP community for...

Amid ongoing allegations of fraud towards both crypto firms, Genesis and its parent Digital Currency Group ( DCG ) have reached a settlement deal over unpaid debts that went overdue in May — but the deal must still be approved by creditors . In an update to Genesis’ bankruptcy plan filed on Tuesday, it noted that DCG has agreed to pay its subsidiary $295 million — partly in US dollars and bitcoin — in installments by April. DCG owes Genesis Global Capital $620 million, between four loans worth $500 million and 4,550.5 bitcoin borrowed by its international arm (worth $171 million at press time). The “partial repayment agreement” brings DCG’s total returns to about $502 million. Genesis’ creditors must still agree to the deal. Genesis wants Gemini’s $700M in ‘unfair’ transfers made before bankruptcy Read more: Genesis settles with 3AC to pay 96.7% less than the $1B it claimed Crypto exchange Gemini, a major Genesi...

Forbes Magazine has announced that the next edition of its annual 30 Under 30 will be released on the Ethereum blockchain . According to Forbes, blockchain will be used to publish the highly anticipated annual ranking of the top performing entrepreneurs across various sectors. “Forbes is at the forefront of marrying traditional media with cutting-edge technology. By launching the Under 30 list on the Ethereum blockchain , we’re not just recognizing the influential young leaders; we’re also demonstrating the vast, untapped potential of blockchain technology in the realm of data storage and security.” Supitskiy, Forbes’ Chief Digital and Information Officer Forbes Chief Development Officer Taha Ahmed said the current initiative is just the first step. The journal intends to continue to explore how Web3 can change the way information is stored and shared. Users can check out the new issue of 30 Under 30 on the Forbes official website. In the “Finance” c...

Peter Brandt is bullish on Coinbase. The investing savant shared his opinion on X that Coinbase shares have nowhere to go but up. Inverted H&S bottom completed in $COIN pic.twitter.com/L2eOp50EE1 — Peter Brandt (@PeterLBrandt) November 29, 2023 Brandt identified an inverted head and shoulders pattern on the Coinbase stock chart, a significant indicator in technical Analysis . This pattern, emerging after a period of downtrend, is characterized by three distinct troughs: the central trough, or the head, is the most pronounced, while the two adjacent troughs, referred to as shoulders, are comparatively shallower. This formation is often interpreted as a potential signal for a reversal in market trends, suggesting a possible upward trajectory for Coinbase’s stock in the near future. You might also like: SEC vs Coinbase and new lawsuit: history of the years-long battle Coinbase became the first crypto exchange to achieve public status in the United States. ...

VALR, Africa’s leading crypto exchange by trade volume, has named Ben Caselin as its chief marketing officer (CMO). The appointment, the exchange notes, is part of their drive for global adoption. VALR appoints Ben Caselin as CMO Since its inception in 2018, VALR, a crypto exchange based in South Africa, has expanded to become one of the leading crypto exchanges in the continent. To further the expansion , Ben Caselin who previously held executive positions in prominent exchanges based in Hong Kong and the United Arab Emirates (UAE), has been appointed CMO. Read more: VALR launches perpetual futures pairing Bitcoin against South African Rand Caselin is also a regular speaker at global conferences and his industry insights are published in several media outlets. His appointment was praised by Farzam Ehsani, the co-founder and CEO of VALR, who said:  “VALR is thrilled to welcome Ben Caselin as our CMO. Ben’s extensive experience in driving growth, coup...

Crypto investigator Kyla Curley warns of regulatory gaps in decentralized finance. Curley argued that DeFi’s decentralized nature presents a regulatory challenge, with financial crime activities rising. Meanwhile, she commended the pending stablecoin bill, particularly its attention to Proof of Reserve audits. A Certified Cryptocurrency Forensic Investigator (CCFI), Kyla Curley, has recently highlighted a critical gap in the current regulatory frameworks concerning decentralized finance (DeFi). Curley commented on DeFi regulation in a recent interview with CNBC. Specifically, Curley expressed concern about the lack of adequate regulation for DeFi. She emphasized that existing regulatory frameworks, both in the U.S. and globally, often fall short of addressing the unique challenges posed by decentralized finance.  She explained that DeFi enables users to engage in various financial transactions, such as lending, borrowing, and swap trades. She no...

Nov 28, 2023 at 09:00 // Price Author Coin Idol The price of Polygon (MATIC) has fallen within the moving average lines. The cryptocurrency fell below the 21-day SMA and the $0.80 support before retesting the $0.80 high. Polygon price long term prediction: bearish The break below the 21-day SMA followed by a correction suggests that selling pressure will continue to be on the downside. On the downside, Polygon will drop to a low above the 50-day SMA or $0.66.  If the cryptocurrency remains above the 50-day simple moving average, the slide will ...

Both FTX and the Polygon team distributed MATIC, as the token fell to $0.73. If MATIC fails to rebound to $0.75, the price may drop below $0.70. Should demand appear when MATIC becomes overbought, the price may reverse upwards. Despite hitting close to $1 in mid-November, the price of Polygon (MATIC) has decreased to $0.73. This value represents an 8.25% decrease in the last seven days, according to CoinMarketCap data.  The decline in MATIC’s price mirrors the trend observed in other altcoins. Furthermore, there are factors suggesting the possibility of further declines. Smart money on-chain tracker Lookonchain highlighted some of these in a post on X (formerly Twitter). A Combination of Large Sell Orders According to Lookonchain, defunct exchange FTX transferred 8 million MATIC tokens, valued at $5.95 million, to Coinbase and OKX in the early hours of November 28. In the past 8 hours, #FTX transferred 8M $MATIC($5.95M) and 1,592 $ETH($...

Inflows into digital asset products rose for a ninth consecutive week, according to CoinShares. Bitcoin (BTC) exchange-traded products (ETPs) registered $312 million in in flows for the week of Nov. 24, bringing year- to -date in flows to around $1.5 billion, according to CoinShares. The weekly in flows for all cryptocurrencies totalled $346 million, continuing a nine-week trend of positive net flows . New record of inflows with US$346m this week, the highest total observed in the past 9 weeks of inflows. – #Bitcoin – $BTC: US$312m inflows (year-to-date inflows US$1.5bn) Short Bitcoin: US$0.9m outflows ETP volumes as a percentage of total spot Bitcoin volumes… pic.twitter.com/gMUPzTy0q4 — CoinShares (@CoinSharesCo) November 27, 2023 Crypto ETPs experience inflows when their shares trade above the prices of their underlying assets, whereas they experience outflows when their shares trade below the value of their underlying assets. For this reason, inflows are often seen as a...

Shibburn data shows a significant surge in the amount of Shiba Inu burned in the past 24 hours.  The data shows a 499,416% jump in the burn rate after over 264 million SHIB tokens were taken from circulation.  A wallet, “0xa9d…3e43,” contributed to the bulk of the tokens, sending over 261 million tokens. Meme coin Shiba Inu has seen a sporadic jump in its burn rate heading into the week. According to data from the Shiba Inu burn tracker, Shibburn, the burn rate jumped by 499,416% in the last 24 hours, indicating a surge in the number of SHIB tokens taken out of circulation.  Notably, the data reported shows that the surge came after over 264 million SHIB tokens were sent to dead wallets. Furthermore, the data indicated one wallet, “Oxa9d…3e43,” contributed to the bulk of the SHIB sent for burning, with over 261 million tokens transferred from it.  The recent surge underscores efforts by the Shiba Inu community to...

Cardano founder Charles Hoskinson outlined recent developments and strides on the blockchain.  Hoskinson said Cardano aims to power true Web3 applications.  The founder said Cardano is still committed to investing in Africa, despite recent challenges. In a recent AMA session, Charles Hoskinson, founder of the Cardano blockchain and reputed member of the cryptocurrency community, highlighted recent developments and strides on Cardano.  During the unexpected AMA on Sunday, Hoskinson reiterated that the Cardano blockchain is still on the right path. He added that recent developments have boosted applications and NFTs on the blockchain.  Furthermore, he noted that Cardano aims to support dozens of chains that work together to power “true Web3 applications.” He continued by saying that 2023 is the year governance on Cardano is built, while the full effects are expected to come into play in 2024.  In faraway Africa, Hoskinson said Cardano...

“We hope you can remember us as the best drainer that has ever existed,” wrote the scam-as-a-service wallet drainer. Inferno Drainer, one of the most popular crypto wallet-draining kits for hire says it is shutting down for good after helping phishing scammers steal nearly $70 million worth of crypto this year. In a Nov. 26 Telegram post, the team behind Inferno Drainer said it was “time for us to move on.” However, it said that the files and infrastructure needed to run the wallet drainer won’t be destroyed but instead will remain active so users can make a “smooth transition” to other services. “It has been a long ride with all of you and we’d like to thank you from heart [sic]. Unfortunately, nothing lasts forever.” “A big thank [sic] to everyone who has worked with us,” it added. “We hope you can remember us as the best drainer that has ever existed and that we succeeded in helping you in the quest of making money.” Inferno Drainer’s final message to its users. Source: Teleg...

Author：0xMingyue Editor：Colin Wu 1. Singapore to Ban Margin Trading from 2024 to Curb Crypto Speculation Among Retail Investors link On the 23rd of November, the Monetary Authority of Singapore (MAS) conveyed that Digital Payment Token (DPT) service providers are urged to curtail crypto currency speculation among retail clientele through the following means: abstaining from offering any crypto currency trading incentives, refraining from facilitating financing, collateral, or leveraged transactions, declining local credit card payments for DPT services, and imposing restrictions on the valuation of crypto currencies in determining customer net assets. These measures are set to be progressively enforced commencing in mid-2024. 2. Taiwan’s Financial Supervisory Commission to Establish New Virtual Asset Bureau link On the 19th of November, according to the United News Network, the office of Taiwan Legislative Yuan member Jiang Yongchang has proposed the “Draft Organizational Law of the Fi...

In the speculative market , the asymmetry between fundamental aspects and the market ’s perception of value is what creates opportunity. Cryptocurrency investors can benefit from finding asymmetries and positioning accordingly. Interestingly, Avalanche (AVAX) has one of the largest Total Value Locked (TVL) in DeFi, with a suggested asymmetry to its market capitalization. In particular, it gets stronger when comparing Solana’s (SOL) higher market cap and lower TVL. It is important to understand that value investing involves many nuances, and investors must consider multiple factors when fundamentally evaluating projects. However, Finbold picked TVL as a benchmark to provide insights on a possible value asymmetry in the cryptocurrency market . In this context, TheCoinPerspective shows that AVAX would be priced at $66.71 if Avalanche had Solana’s $24.4 billion market capitalization. This would result in an upside of 222%, considering a price of $20.75 per AVAX by press time. Avalan...

Technical indicators suggest BNB may be on the path to a bullish recovery. Binance’s CEO resignation, though a setback, hasn’t dampened investor interest. Despite the turbulence, Binance Coin (BNB) remains resilient, sparking optimism. Binance Coin (BNB), the native cryptocurrency of the Binance exchange, experienced significant fluctuations following the recent resignation of Changpeng Zhao (CZ), the company’s CEO, and the appointment of Richard Teng as his replacement. Moreover, BNB’s value saw a notable decline, dropping by $36 from a weekly high of $266 in the wake of these developments. BNB/USD 24-hour price chart (source: CoinStats) Significantly, the impact of Binance’s settlement extended beyond its token. The broader cryptocurrency market felt the ripples, with leading currencies like Bitcoin and Ether each dropping by over 4%. Despite this, Bitcoin and Ether showed resilience, returning to project potential weekly...