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16 03, 2024

Hush Finance (HUSH) Announced Presale Redefining Protocol Innovation

By |2024-03-16T12:58:44+02:00March 16, 2024|Forex News|0 Comments


KORCULA, CROATIA / ACCESSWIRE / March 15, 2024 / Hush Finance, a leading entity in the decentralized finance (DeFi) sector, is thrilled to announce the commencement of its highly anticipated presale. This marks a significant milestone in the evolution of decentralized finance, showcasing Hush Finance’s commitment to innovation and user empowerment.

Through its groundbreaking protocol solutions, Hush Finance seeks to address existing challenges and unlock new opportunities in the DeFi space. The presale event marks the beginning of an exciting journey for Hush Finance and its community of supporters. With a vision to drive positive change and lead the DeFi industry forward, Hush Finance invites users to join the movement and participate in shaping the future of decentralized finance.

Revolutionizing DeFi with Innovative Protocol Solutions

At the core of Hush Finance’s protocol lies its unwavering commitment to interoperability, scalability, and decentralization. As a decentralized finance (DeFi) protocol, Hush Finance distinguishes itself by offering seamless interoperability, allowing it to integrate with various blockchain networks effortlessly. This interoperability empowers users to access Hush Finance’s features and services across multiple chains, enhancing its utility and reach within the crypto space.

Moreover, Hush Finance prioritizes scalability to accommodate the growing demands of DeFi users and transactions. By implementing scalable solutions, the protocol ensures high throughput and performance, enabling it to handle increasing network activity without compromising efficiency.

Empowering Users with the HUSH Token

With a total supply of 1 Billion Tokens , HUSH token serves as the backbone of the Hush Finance protocol, offering a diverse range of utilities that drive the ecosystem’s functionality and governance processes. At its core, the HUSH token empowers users by granting them governance rights, allowing them to actively participate in shaping the direction of the protocol. Through proposal voting and decision-making mechanisms, HUSH token holders have a voice in critical protocol upgrades, parameter adjustments, and community-driven initiatives.

Additionally, the HUSH token plays a pivotal role in facilitating transactions within the ecosystem. As a native currency, it serves as a medium of exchange for various DeFi activities, including asset transfers, trading, and fee payments. Furthermore, HUSH token holders can leverage their tokens for staking purposes, contributing to network security and consensus mechanisms while earning rewards for their participation.

Revolutionary Cross-Chain Interoperability

Hush Finance pioneers a revolutionary approach to cross-chain interoperability, facilitating seamless asset transfer and communication between disparate blockchain networks. Through innovative protocol solutions, Hush Finance bridges the gap between different blockchain ecosystems, fostering a connected and inclusive DeFi landscape.

At the core of Hush Finance’s cross-chain interoperability lies its interoperability protocol, which leverages advanced technology to enable secure and frictionless asset transfers across multiple blockchains. This protocol acts as a bridge, facilitating the transfer of digital assets between different networks while maintaining transparency, security, and integrity.

One of the key benefits of Hush Finance’s cross-chain interoperability is its ability to enhance user experience and expand the utility of digital assets.

Advancements in Smart Contract Technology

Hush Finance is at the forefront of smart contract innovation, leveraging advanced technology to drive decentralized applications (dApps), automated financial services, and complex financial instruments within its ecosystem. By harnessing the power of smart contracts, Hush Finance introduces groundbreaking solutions that enhance security, reliability, and efficiency while empowering users with innovative financial tools.

One of the primary use cases of smart contracts within the Hush Finance ecosystem is decentralized applications (dApps). These dApps enable users to access a wide range of financial services, including lending, borrowing, trading, and asset management, all without the need for intermediaries.

A key emphasis of Hush Finance is on security, reliability, and efficiency in smart contract execution. The protocol employs rigorous testing and auditing processes to ensure that smart contracts are free from vulnerabilities and operate as intended.

Prioritizing Privacy and Security

Hush Finance demonstrates unwavering commitment to privacy and security within the DeFi landscape, implementing a comprehensive array of features to safeguard user data and transactions. Among these are robust encryption protocols and decentralized identity management solutions, fostering an environment where users can transact and interact with confidence in their privacy and security.

Encryption protocols play a pivotal role in securing user data and communications within the Hush Finance ecosystem. By encrypting sensitive information such as transaction details and personal identifiers, Hush Finance ensures that user data remains confidential and protected from unauthorized access or interception. This encryption provides users with peace of mind, knowing that their financial activities are shielded from prying eyes and potential threats.

For More Visit

Website: www.hush.fi

Twitter: www.twitter.com/hushfinance

Telegram: www.t.me/hushfinance

Contact Details:

Company: Hush Finance LLC

Address: Ulica Sv Roka, Korcula, Dubrovnik-Neretva County, 20260, Croatia

Name: Nikola Joe

[email protected]

SOURCE: Hush.fi





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16 03, 2024

Crypto Liquidations Top $680 Million as Bitcoin Reverses Gains

By |2024-03-16T12:48:04+02:00March 16, 2024|Forex News|0 Comments


Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Crypto market liquidations totaled approximately $680 million in assets following a reversal in the price trend of Bitcoin (BTC) over the past 24-hour period; the cryptocurrency market has experienced a significant shift in pricing dynamics.

BTC, ETH and SOL liquidated after reverse gains

Data from CoinGlass reveals that major cryptocurrencies, including Bitcoin, Ethereum and Solana, have witnessed substantial liquidations as the recent uptick in Bitcoin’s price abruptly turned bearish.

Bitcoin (BTC) recorded liquidations totaling $246.66 million, with $195.61 million from long positions and $47.05 million from short positions. The last time liquidation occurred as a result of a price drop, some analysts, including critic Peter Schiff, were optimistic about a rally.

Ethereum (ETH) saw liquidations amounting to $116.07 million, comprising $94.86 million from long positions and $21.21 million from short positions.

A substantial acquisition of 25,674 ETH was recently executed by an Ethereum whale, with a risk of repercussions predicted should the price of ETH dip below a certain threshold, potentially leading to a liquidation event. This, according to analysts, seems to be playing out.

Outlier mode activated by Solana

Solana (SOL) experienced liquidations totaling $38.28 million, with $19.88 million from long positions and $18.39 million from short positions. However, Solana (SOL) stands out as the sole major cryptocurrency among the top 10 by market capitalization to register gains.

Within the last 24 hours, SOL has surged by 6.8%, reaching $177.31, per data from CoinGecko. This trend contrasts sharply with the broader digital currency market, which is witnessing substantial losses, particularly in major coins like Bitcoin and Ethereum.

Even with the market experiencing liquidation due to a price dip, there is potential for stability in the near future, especially considering positive market sentiment leading up to next month’s Bitcoin halving event. Moreover, increasing inflows into products like a spot Bitcoin ETF could help mitigate the decline in the short term.



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16 03, 2024

Mysterious Bitcoin Move to Binance Makes BTC Price Plummet Again: Details

By |2024-03-16T12:02:18+02:00March 16, 2024|Forex News|0 Comments


Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Contents

As the world’s flagship cryptocurrency has staged a massive plunge over the past 24 hours, @lookonchain analytics platform has noticed a curious Bitcoin transaction that preceded this price fall. It pointed out that this is not the first time that this whale has sold a massive BTC amount, right before the price stages a big fall.

Bitcoin plummeted over whale? Here’s what happened

@lookonchain has spotted a mysterious cryptocurrency holder (large holders like this are often referred to as whales within the crypto community) who transferred a massive 4,637 BTC chunk to a hot wallet linked to the Binance exchange within the last 24 hours. The amount of Bitcoin transferred comprises a hefty amount of fiat – roughly $329 million.

It happened right when Bitcoin demonstrated an astonishing 9.93% plunge, losing approximately $7,400 from its market price. While yesterday’s Bitcoin fall was followed by an attempt to regain some of the losses, today BTC lost an astonishing 8% worth $5,800.

The aforementioned blockchain sleuth pointed out that this is not the first time this whale’s transaction has coincided with a big Bitcoin decline. Previously, BTC plummeted on March 5. Back then, the same whale had transferred a slightly bigger chunk of Bitcoin to the world’s largest exchange – 4,876 BTC coins evaluated at $319 at the time when the transaction was made.

Robert Kiyosaki loves gold, but he prefers Bitcoin

Famous investor and author of the “Rich Dad Poor Dad” book on managing personal finance Robert Kiyosaki is known as a vocal Bitcoin supporter. In a recent tweet, Kiyosaki stated that he prefers Bitcoin to all other traditional mineable high-value assets.

The writer and financial expert shared that aside from Bitcoin, he owns gold, silver and even several oil wells. However, he pointed out that the “trouble” with all these assets is that once their price goes higher, more gold, silver and oil can be produced (mined).

It does not work the same with Bitcoin, Kiyosaki reminded his 2.1 million X/Twitter audience, since BTC is forever limited to only 21 million coins, and more than two thirds of them have already been produced by miners. For this reason, Kiyosaki’s bet on Bitcoin is much bigger than on gold and silver.





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16 03, 2024

Gold Prices Forecast: Will Sustained High Interest Rates Diminish Gold’s Luster?

By |2024-03-16T11:16:01+02:00March 16, 2024|Forex News|0 Comments


Weekly Gold (XAU/USD)

Record High and Subsequent Retreat

Gold commenced the week on a strong footing, reaching an all-time high of $2,188.13 per troy ounce on Monday. This surge was largely attributed to growing investor optimism regarding a possible Federal Reserve interest rate cut by June. However, as the week progressed, gold prices began to retract, influenced by renewed inflation concerns.

The Producer Price Index (PPI) for the 12 months ending in February climbed by 1.6%, marking the fastest increase in months. This spike, primarily driven by rising energy costs, indicated a robust inflation trend. This upward movement in PPI was followed by Consumer Price Index (CPI) data, which also exceeded expectations. The CPI advanced 0.4% from the previous month and 3.2% year-on-year.

Market Impact of Inflation Data

The higher-than-expected inflation readings led to a recalibration of market expectations regarding U.S. interest rate cuts. The data over the week suggested persistent inflationary pressures, reducing the likelihood of immediate rate reductions. As a result, gold, which does not yield returns, becomes less attractive in a high interest rate environment.

The U.S. dollar index, a measure against six major currencies, recorded a significant weekly gain of 0.7% – the largest since mid-January. This gain in the dollar index made gold more expensive for overseas buyers, contributing to the metal’s price drop. Additionally, U.S. Treasury yields rose last week as the market adjusted its outlook on interest rates post the inflation data release.

Next Week’s Outlook and Central Bank Decisions

The upcoming week holds key events that could further influence gold prices. The Federal Reserve’s meeting is a focal point, with no rate changes expected but keen market interest in any signals regarding future cuts. The Bank of Japan is also a point of interest, potentially moving away from negative interest rates. Similarly, meetings of the Bank of England, the Swiss National Bank, and discussions within the European Central Bank about rate reductions will be closely watched.

In summary, while gold traditionally serves as an inflation hedge, the current market scenario of potentially prolonged high interest rates and a strengthening dollar presents a bearish short-term outlook for the metal. Investors and traders should closely monitor central bank decisions and global economic indicators in the coming week to gauge the direction of the gold market.



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16 03, 2024

Satoshi-Era Bitcoin Whales Are Waking Up, Selling Their Holdings

By |2024-03-16T10:29:15+02:00March 16, 2024|Forex News|0 Comments


Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A Bitcoin wallet was activated after nearly a decade and a half of dormancy, transferring 50 BTC — valued at approximately $3.67 million — to Coinbase. This wallet, which received the Bitcoin from mining activities on April 25, 2010, has been untouched until this recent transaction.

The serendipitous tale of this Bitcoin miner, who diligently held onto their assets through multiple market cycles, illustrates a blend of remarkable patience and fortuitous timing. The miner’s decision to hold for 14 years is emblematic of a long-term investment strategy that early adopters of Bitcoin often embraced, rooted in an unwavering belief in the cryptocurrency’s value proposition and potential.

BTCUSD Chart
BTC/USD Chart by TradingView

The recent activation of such long-dormant wallets has been dubbed a “waking of the whales,” referring to entities that hold significant amounts of Bitcoin, often from the network’s earliest days, known as the Satoshi era. These movements have the potential to cause ripples on the market, given the sizable volume of assets they can introduce at once.

Turning our attention to Bitcoin’s current market performance, the digital asset has showcased an impressive bull market trend, as seen in the provided chart. Bitcoin’s upward trajectory has been characterized by a series of higher highs and higher lows, a bullish indicator in market technical analysis. The moving averages are well aligned below the current price levels, suggesting strong support.

However, as with any bull market, investors remain vigilant for signs of a correction. Bitcoin’s recent surge has led to discussions about the sustainability of its price increase. Given the volatile nature of cryptocurrency markets, a price correction is always a possibility, especially after such significant appreciation.

Furthermore, the reawakening of Satoshi-era whales could introduce a sudden influx of supply to the market, potentially triggering a short-term correction as the market absorbs the new availability of coins.

Nonetheless, the long-term sentiment for Bitcoin remains optimistic. With increasing adoption, institutional investment and mainstream financial products incorporating BTC, the foundational cryptocurrency continues to cement its position within the financial landscape.



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16 03, 2024

Unstoppable DeFi Unveils Revolutionary Mobile App: a New

By |2024-03-16T09:57:22+02:00March 16, 2024|Forex News|0 Comments


VILNIUS, LITHUANIA, March 16, 2024 (GLOBE NEWSWIRE) — Unstoppable DeFi, a pioneer in decentralized finance, is thrilled to announce the early access launch of its innovative mobile app. This groundbreaking application combines the convenience of traditional finance tools with the transformative power of decentralized finance, offering an unparalleled and secure experience in cryptocurrency trading and yield generation.

Unstoppable DeFi’s mobile app is changing the game by making the complex world of cryptocurrency accessible to everyone. By removing technical barriers, the app empowers users to engage with digital currencies and value systems while maintaining the core principles of self-custody and decentralization.

“With our app, we’re bridging the gap between advanced technology and everyday users,” says the CEO of Unstoppable DeFi. “It’s about bringing the power of decentralized finance to the hands of everyone, without compromising on the fundamentals that make it revolutionary.”

Key Highlights:

  • Vision and Ambition: Committed to making decentralized finance accessible, Unstoppable DeFi ensures a user-first approach, providing unmatched accessibility, control, and freedom within the DeFi space.
  • Abstracting Away Complexities for User Convenience: Unstoppable DeFi is revolutionizing on-chain trading and digital asset management through its intuitive mobile application. Emphasizing ease of use, the app allows users to set up their on-chain account using just a mobile phone and effortlessly integrates fiat currency, circumventing the typical complexities associated with blockchain transactions and wallet management. Unstoppable opens the doors of DeFi to everyone, regardless of prior cryptocurrency experience.
  • Innovative Trading Features: The app features state-of-the-art trading features, including advanced Spot and Margin Leverage trading, designed for both novice and experienced traders. Users can easily engage in various on-chain trading strategies, supported by a responsive and intuitive mobile interface.
  • Yield Generation: Their platform empowers users to enhance the productivity of their digital assets with an array of robust yield-generating tools. They provide diverse methods for earning passive income, including staking, single-sided liquidity provision, and access to various yield opportunities through their integrated partners. This is all delivered within their mobile app in a secure, intuitive interface designed for user ease.
  • Native FX Tokens and Fiat On-Ramp: Streamlined fiat-to-crypto conversion within the mobile app, enabled by a native fx tokens and facilitated by a VASP license. This feature simplifies the process of accessing decentralized finance for users, eliminating the need for third-party exchanges and enhancing transactional efficiency.
  • Biometric Security: At the forefront of security innovation, the app allows users to generate an account and sign transactions with advanced biometric authentication, ensuring utmost security by leveraging modern secure hardware chips in their mobile phones while maintaining simplicity.

A Movement Towards Financial Sovereignty

We are not just building an app; we are cultivating a movement towards true financial autonomy,” said the CEO of Unstoppable DeFi in a recent interview with Blocmates. “The early access launch of our mobile app is a pivotal milestone in our journey to make decentralized finance accessible, secure, and efficient for everyone. Our app empowers users to easily trade and manage their digital assets anytime and anywhere.

Deepening User Engagement and Understanding

The app’s early access phase allows users to explore and familiarize themselves with its features as they are continuously released over the following months. This phase is crucial for gathering user feedback, which will guide further enhancements and ensure that the app continues to meet the evolving needs of the DeFi community and their newcomers.

About Unstoppable DeFi

Founded by a team of seasoned blockchain experts and innovators, Unstoppable DeFi is a pioneering decentralized finance startup. With a vision to democratize finance, the company is committed to delivering a seamless, secure, and user-centric experience. This ambition is bolstered by a deep understanding of the benefits of centralized platforms, which Unstoppable DeFi seamlessly integrates into decentralized frameworks.

Join the Movement and Shape the Future of DeFi

Unstoppable DeFi invites users to be part of this exciting journey. By signing up for the waitlist, users can gain early access, experience the app’s robust features, and actively contribute to its ongoing development.

For more information and to join the waitlist, visit https://forms.unstoppable.ooo/waitlist

Media Contact

Brand: Unstoppable DeFi

Email: elsa@unstoppable.ooo

Website: https://unstoppable.ooo

SOURCE: Unstoppable DeFi



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16 03, 2024

Crude Oil News Today: Can Supply Keep Up with Rising Demand?

By |2024-03-16T08:55:25+02:00March 16, 2024|Forex News|0 Comments


Weekly Light Crude Oil Futures

Geopolitical Factors and U.S. Market Resilience

Geopolitical tensions, particularly involving Russia and Ukraine, have escalated supply concerns. Recent Ukrainian strikes on Russian oil refineries, notably at Rosneft PJSC’s largest facility, have disrupted Russia’s oil production capacity. Simultaneously, OPEC+ members are maintaining their output cuts, contributing to a leaner supply scenario. In the U.S., despite signs of economic slowing, the oil market remains robust. A surprising decrease in U.S. crude oil stockpiles, coupled with a drop in gasoline inventories to a three-month low, signals strong domestic demand.

Federal Reserve’s Policy and U.S. Dollar Strength

The Federal Reserve’s monetary policy continues to be a focal point for oil traders. The possibility of interest rate cuts remains uncertain due to persistent high inflation. Any reduction in rates could stimulate the U.S. economy, potentially boosting oil demand. Meanwhile, the strengthening U.S. dollar has added complexity to the market, as a stronger dollar typically makes oil more expensive for holders of other currencies. However, this has not significantly dampened the bullish sentiment in the oil market thus far.

The U.S. oil industry is showing signs of increased activity, with energy firms adding the most significant number of oil and natural gas rigs in a single week since September. The rise in the oil rig count, reaching its highest in six months, indicates a proactive response to the current market conditions. This uptick in U.S. production efforts aligns with the global trend of tightened supply and robust demand.

Weekly Market Forecast

Looking ahead, the weekly outlook for the oil market is predominantly bullish. The combination of increased global demand, as highlighted by the IEA, along with geopolitical supply disruptions and strategic supply adjustments, supports this view. Despite the global economic concerns and the strong U.S. dollar, the demand for oil remains resilient. This, along with the robust refining margins and high crack spreads, suggests that oil prices are likely to maintain their upward trend in the coming week. As the market responds to these multifaceted drivers, traders should anticipate continued growth in oil prices, driven by persistent demand pressures and supply constraints.



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16 03, 2024

BlockDAG Keynote Sparks a New Era for DeFi Coins, Presale Crosses $4.7M, Outshining Solana and Hedera in Popularity

By |2024-03-16T08:26:15+02:00March 16, 2024|Forex News|0 Comments


In a groundbreaking development that has captivated the world of decentralized finance (DeFi), the BlockDAG protocol has emerged as a revolutionary technology, eclipsing the achievements of established giants like Solana and Hedera. The unveiling of BlockDAG at a highly anticipated keynote presentation has signalled the dawn of a new era for DeFi coins, drawing unprecedented attention and investment. With its presale figures surpassing $4.7 million, BlockDAG has not only demonstrated its potential to reshape the DeFi landscape but has also captured the imagination of investors and enthusiasts alike, setting new benchmarks for success and popularity in the sector.

Solana’s Bullish Surge and Market Evaluation

Solana (SOL) has recently seen a positive turnaround in its market performance, with prices rallying from a low of $137.63 to hit a high of $150 within just 24 hours. This Solana bullish surge reflects growing confidence in Solana’s technology and ecosystem, as well as the overall positive sentiment in the cryptocurrency market. As SOL celebrates its recent successes, investors are eagerly watching to see how it will fare in the coming days, with expectations high for potential gains.

Indicators suggest a favorable outlook for SOL’s price, a strong upward momentum, indicating the possibility of further price appreciation. Additionally, the stochastic RSI trend supports the bullish sentiment, although caution is advised as it nears overbought territory. Meanwhile, the Chaikin Money Flow suggests a temporary outflow of money from SOL, which could lead to a brief price drop, but the overall market sentiment remains positive with bulls seemingly in control. As traders navigate these indicators, they anticipate potential price increases in the near future, with SOL’s market dynamics continuing to attract attention and investment.

HBAR Price Forecast

In recent market updates, Hedera Hashgraph (HBAR) has shown mixed performance, with the price currently at $0.126028 after a 3.09% dip in the last 24 hours. Despite this, our prediction indicates a bullish trend with an expected rise to $0.136307 by March 15, suggesting a potential 8.03% increase. HBAR’s volatility is evident as it underperformed against Bitcoin, dropping by 4.57%. However, with an overall positive sentiment and a Fear & Greed index reading of 79 (Extreme Greed), investors remain optimistic.

Over the past month, HBAR has surged by 60.69%, indicating an upward trajectory. This emerging crypto asset has gained attention, potentially making it a lucrative option for investors seeking opportunities in the market. With HBAR’s positive outlook and potential for growth, it remains an intriguing choice for those considering emerging cryptocurrencies to buy.

BlockDAG’s Keynote: Uncover the Future of Crypto Revolution

BlockDAG Keynote Sparks a New Era for DeFi Coins, Presale Crosses .7M, Outshining Solana and Hedera in Popularity

BlockDAG is causing a stir with its recent keynote address. This virtual stage presence (displayed last week at Shibuya Crossing, Tokyo) has everyone talking, making BlockDAG the talk of the town in the crypto presale scene. With its current Batch 3 at a modest 0.002 USDT, BlockDAG has already raised over $4.7 million and sold more than a whopping 3,500 miners. Analysts are buzzing with excitement, predicting that BlockDAG could skyrocket a jaw-dropping 10,000 times post-launch, putting it in the same league as Bitcoin and Kaspa. Imagine that! With the potential to outshine even Kaspa’s remarkable 900x growth in just two years, BlockDAG is shaping up to be the investment opportunity of a lifetime, with a projected ROI of a mind-blowing 1000x. And get this: experts are eyeing BlockDAG’s post-launch liquidity to hit a whopping $100 million, cementing its status as a game-changer in the crypto world.

As the crypto market boils up, BlockDAG emerges as a shining opportunity, poised to shake up the industry and deliver massive returns to savvy investors. It’s time to hop on board the BlockDAG train and ride it to the moon!

Final Take

Solana bullish momentum continues, Hedera Hashgraph’s HBAR price is on a steady rise, and BlockDAG’s revolutionary potential highlights the dynamic nature of this industry. Whether an investor or a newcomer, there’s never been a better time to explore the possibilities of emerging cryptocurrencies. So, seize the moment, embrace the excitement, and let’s embark together on this thrilling adventure into the world of digital assets.

To know more about BlockDAG:

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.



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16 03, 2024

Bitcoin (BTC) News Today: BTC-Spot ETF Market Trends Amid Market Volatility

By |2024-03-16T08:08:53+02:00March 16, 2024|Forex News|0 Comments


According to the CME FedWatch Tool, the probability of a 25-basis point June Fed rate cut fell from 57.4% to 52.9% in the week ending Mar 15. More significantly, the chances of a 25-basis point May Fed rate cut slid from 23.2% to 8.7% in the week ending Mar 15.

BTC-Spot ETF Market Resilient Despite BTC Pullback

The BTC-spot ETF market saw net inflows fall from $683.7 million (Mar 13) to $132.5 million (Mar 14). iShares Bitcoin Trust (IBIT) saw net inflows of $345.4 million to ensure the BTC-spot ETF market extended its run of net inflows to nine sessions.

Nonetheless, the impact of the US data was evident. Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows slide from $281.5 million (Mar 13) to $13.7 million (Mar 14). FBTC net inflows were the lowest since launching on Jan 11. (All BTC-spot ETF flow data from BitMEX Research).

BTC and the broader crypto market joined the Nasdaq Composite Index in negative territory on Mar 14 and Mar 15. However, profit-taking impacted BTC more. Year-to-date, the Nasdaq was up 6.41% to Mar 15. In contrast, BTC was up 60.80%, leaving BTC at risk of a sharper pullback.

Despite the two-day pullback from the new all-time high of $73,810 (Mar14), BTC-spot ETF net inflows could see a new weekly high. From Monday (Mar 11) to Thursday (Mar 14), the BTC-spot ETF market saw total net inflows of $2,368.7 million. In the week ending Feb 16 (Monday to Friday), the BTC-spot ETF market saw total net inflows of $2,271 million, the previous weekly high.

The flow data supported bets on a BTC move toward $100,000. However, the flow data for Mar 15 could impact buyer demand for BTC. A large investor base may be using BTC-spot ETF trends as a proxy for BTC price trends.



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16 03, 2024

XRP News Today: Regulatory Hurdles Cloud XRP-Spot ETF Outlook

By |2024-03-16T07:21:46+02:00March 16, 2024|Forex News|0 Comments


Senators Jack Reed and Laphonza Butler, both Democrats, urged Gensler to restrict the expansion of the crypto-spot ETF market, saying,

“We believe the SEC should strictly limit the precedential application of these approvals. While the bitcoin market has displayed serious weakness, it is nonetheless far more established and scrutinized than the market for any other cryptocurrency. However, vulnerable bitcoin may be to fraud and manipulation, markets for other cryptocurrencies are far more exposed to misconduct.”

The Senators further raised concerns about market surveillance and emphasized the importance of safeguarding retail investors from thinly traded cryptocurrencies and those vulnerable to pump-and-dump schemes.

Uncertainty about the SEC approving the ETH-spot ETF applications intensified in recent weeks. Hopes of an XRP-spot ETF market have also faded. The letter to Chair Gensler could further impact investor hopes of an XRP-spot ETF approval.

SEC intentions to appeal the ruling on the Programmatic Sales of XRP would justify the inclination to reject altcoin ETF applications. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test.

Spot ETF issuers are unlikely to submit XRP-spot ETF applications until the end of the appeals process. The ongoing SEC v Ripple case is in its final stages. Judge Torres could deliver a summer ruling on the Penalty for breaching Section 5 of the 1933 Securities Act. Crypto experts believe an appeal against the Programmatic Sales ruling could extend the case into 2025.



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