Category: Cryptocurrency News

submitted by /u/SolidDelivery4689 [link] [comments]

The bank used the Hedera network to settle payments in South Korean, Thai and Taiwanese currencies in real-time in its second stablecoin pilot project.

BlackRock’s application for a spot Bitcoin ETF has kicked off the next Bitcoin bull run, which will culminate in 2024 with a speculative parabolic run, according to Morgan Creek Capital’s Mark Yusko.

The crypto exchange is currently involved in a legal battle with the U.S. Securities and Exchange Commission over allegedly offering unregistered securities.

Cathie Wood, the CEO of ARK Investment Management, has reaffirmed her bullish stance on Coinbase, one of the leading cryptocurrency exchanges, despite ARK’s recent sale of COIN stocks. Wood’s optimism comes in the wake of Ripple’s partial victory over the Securities and Exchange Commission (SEC) on July 13. This ruling, while not entirely in favor of Ripple, has been viewed as a positive development for the broader crypto industry, particularly for crypto exchanges. Moreover, Wood’s confidence aligns with other experts who believe that this ruling could have significant implications for Coinbase and its ongoing legal battles with regulatory authorities. Ripple Court Ruling: A Boost for Crypto Exchanges and Coinbase The recent court ruling in favor of Ripple against the SEC has sparked reactions within the crypto industry. Cathie Wood, along with several industry pundits, has lauded the ruling, recognizing its potential positive impact on Coinbase and other exchanges. Related Reading: 29% Of Bitcoin’s Circulating Supply Is Now Presumed Lost Forever The court found that XRP tokens sold to retail investors on crypto exchanges were not securities, setting a precedent that could favor Coinbase and Binance in their legal disputes with the SEC. Wood, in a video posted on Bloomberg’s Twitter handle, emphasized that despite receiving a Wells notice in March and facing a lawsuit from the SEC in June, Coinbase’s share price demonstrated resilience, suggesting the robustness of its stock value. The CEO’s bullish comments come after ARK Investment Management recently sold a significant number of Coinbase shares, with three of its ETFs cashing in on the exchange’s rally. Despite these sales, Wood’s bullish outlook on Coinbase remains unshaken.  COIN price sitting at $106.75 | Source: Coinbase Global, Inc. on TradingView.com The cryptocurrency exchange’s share price, which started the year at $33.60, has surged over 184%, reaching $105.55 at the time of publication. However, while industry players increasingly express optimism toward Coinbase, analysts from Berenberg Capital Markets caution that various regulatory challenges for crypto exchanges are yet to be fully resolved. Regulatory Concerns Linger Despite Coinbase’s Resilience Despite Coinbase’s strong performance and Wood’s optimism, regulatory uncertainties persist within the crypto exchange sector. Berenberg Capital Markets analysts highlight unresolved aspects of crypto exchange regulation, including concerns about Coinbase Earn, a product that offers yield on crypto staking.  The comments made by Judge Analisa Torres raise questions about the potential classification of Coinbase Earn as a security, signaling the need for further clarity in this area.  Related Reading: USDC Market Cap Drops As Redemptions Climb To $1.4 Billion Nevertheless, Wood’s continued bullish stance on Coinbase following the Ripple court ruling reflects her confidence in the exchange’s ability to navigate regulatory challenges successfully.  It is also crucial to acknowledge that the evolving regulatory landscape and ongoing legal battles with the SEC require careful monitoring. Achieving clarity and resolution in crypto exchange regulation remains essential to ensure the long-term stability and growth of the industry. Featured image from Bankrate, chart from Tradingview.com

submitted by /u/BradyatHedera [link] [comments]

submitted by /u/rikbona [link] [comments]

I really don't understand what I'm supposed to do. I'm using bridge.arbitrum.io to bridge some eth from mainnet to arbitrum nova of the same address. I checked everything is in order and I have more than sufficient gas funds for the amount I'm sending. when I click "move funds " nothing happens. tried connecting from…
Read more

It is time… time for another trip to the very remote part of Bitcoin as the King of Crypto and a trip that will probably cause a lot of hindsight already for many of us. But as we usually say, hindsight is 20/20. Of course you could have made better decisions in the past, we…
Read more

Data shows that Litecoin whales have deposited a large amount of the asset to exchanges during the past day, a sign that may be bearish for LTC. Litecoin Whales Have Made Significant Exchange Inflows In 24 Hours According to data from the cryptocurrency transaction tracker service Whale Alert, several large transfers have taken place on the LTC blockchain during the past day. In total, there have been four such transactions, with the largest of them involving the movement of 500,000 LTC (around $46 million at the time the transfer went through). While the other three interestingly all saw the same number of tokens moving on the network: 78,760 LTC (the USD price fluctuated between each of these transactions, but on average, the stacks were worth $7.2 million at the time of movement). As all these transactions are so large, it’s possible that whale entities were behind them. The whales are generally influential beings in the market, as they hold very large amounts in their wallets. Thus, their movements are usually something to look out for, as they may precede volatility in the price. Naturally, how the price may be influenced by these humongous investors’ transfers depends on what exactly they wanted to achieve with said transactions. Here are some additional details regarding the largest of today’s transfers, which may help shed some light on the context surrounding it: Looks like this LTC transfer required a negligible fee to go through | Source: Whale Alert As you can see above, the sending address in the case of this Litecoin transfer was an unknown wallet, meaning that it was unattached to any known centralized platform. Such addresses are usually investors’ personal wallets. The receiving address, on the other hand, was connected to a centralized platform: the cryptocurrency exchange Binance. Transfers like this where coins move from self-custodial wallets to exchanges are called “exchange inflows.” Usually, one of the major reasons why holders may deposit their coins to exchanges is for selling-related purposes, so exchange inflows can have bearish effects on the price. Related Reading: Bitcoin Miners Selling Again, Will Price Crash Again? It’s possible that the whale here also made this deposit with a similar intention. Naturally, if it’s truly the case, the price could feel visible negative effects from it, considering the scale of the transaction. As for the other three transactions that were all of the exact same scale, two of these transfers were inflows similar to this one, while the remaining one was an outflow. Two of these transfers (both inflows) shared the same sending and receiving addresses, making it likely that the same whale might have been behind the deposits. The outflow’s receiving address doesn’t match any of the transactions from today, so it’s unknown if it’s related to them. However, it involves the exact same number of coins as the two inflows, so it raises suspicion that the same whale entity may have been behind it after all. Related Reading: Stablecoin Exchange Deposits Remain Low, What Does It Mean For Bitcoin? In any case, one reality continues to stand: there were total net inflows of $53.2 million in the last 24 hours, which can act as a source of significant selling pressure in the market for the cryptocurrency. LTC Price At the time of writing, Litecoin is trading around $91, down 6% in the last week. LTC has slipped down recently | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, chart from TradingView.com