Author: NBTC
CBRT announced its interest rate decision for June 2024. CBRT Monetary Policy Committee left interest rates constant in June. The expectation was that the policy rate would be kept constant at 50% in June. What Was the Dollar’s Reaction to the Interest Rate Decision? After the CBRT decision, the dollar is traded at 32.92 TL. CBRT’s statement regarding the latest interest rate decision is as follows: “The Monetary Policy Committee (Board) has decided to keep the one-week repo auction interest rate, which is the policy rate, constant at 50 percent. The weakening in the underlying trend of monthly inflation suffered…
In a recent interview, Ripple’s Middle East and Africa Managing Director Reece Merrick shared his personal take on the company’s plans to create and launch its native stablecoin. He also explained why he believes it will be a success, while such popular USD-backed stablecoins as USDT and USDC have already existed in the market for many years. The video extract was shared by XRP enthusiast @BankXRP. Ripple’s activity in Dubai In particular, Merrick spoke about the sector he is in charge of, and part of it is Dubai where, recently, the Crypto Expo Dubai 2024 event took place. The executive…
Digital hamsters are reportedly taking over Iran—and the government isn’t too keen on it. Telegram-based crypto game Hamster Kombat has seen surging interest in Iran, according to a report Monday from the Associated Press, as local users flock to the simple tap-to-earn game ahead of its upcoming token launch. That interest has been seen broadly in recent weeks as the game—which primarily revolves around tapping the screen and lets players oversee a fictional crypto exchange as a hamster CEO—has apparently drawn vast amounts of players eager to get a share of the token drop. Hamster Kombat’s developers announced Monday that…
Bitcoin has passed the $70,000 mark for the first time in more than a month, since April 12. The price of the biggest digital asset is now at $70,225 per coin, data from CoinGecko shows, jumping 6% in 24 hours. And crypto liquidations are surging as a result, with short positions dominating the carnage. The asset’s rise comes as investors again flood the newly approved spot Bitcoin exchange-traded funds (ETFs) with money following weeks of outflows. Data on Monday showed that nearly $1 billion hit the new funds, which give investors exposure to the biggest digital asset. The flood of…
Market sentiment is shifting at a very fast pace, with Bitcoin (BTC) and Ethereum (ETH) dominating social trends. According to top market analyst Michael van de Poppe, with the ongoing drop in the dominance of Bitcoin, Ethereum might take over these social conversations moving forward. Shifting investor focus As spotted by van de Poppe, the dominance of Bitcoin has plateaued at 58%, setting the tone for Ethereum to enter the limelight. Van de Poppe noted that the spot Ethereum ETF product will shape the narrative eventually, as investors look for the next things that can drive optimism. #Bitcoin dominance continues…
State Street Global Advisors, a subsidiary of the third-largest ETF issuer State Street, has joined the growing trend of traditional financial institutions exploring crypto ETFs. In a June 26 statement, the firm said it was teaming up with crypto investment firm Galaxy Digital to introduce new crypto ETFs extending beyond the flagship digital asset, Bitcoin. It stated: “By combining the strengths of two of the biggest brands and first-movers, [we] will provide investors access to the $2.4 trillion digital asset ecosystem through manager-directed strategies.” The firm has already filed an application with the US Securities and Exchange Commission (SEC) to…
XRP is in the spotlight following some observed whale transfers in the past 24 hours. According to data from crypto analytics tracker Whale Alert, one single whale moved 25,419,259 XRP worth about $13,335,299 from Binance exchange to an unknown wallet. 🚨 25,419,259 #XRP (13,335,299 USD) transferred from #Binance to unknown wallethttps://t.co/lUNNE2c4mh — Whale Alert (@whale_alert) June 7, 2024 XRP liquidity concerns XRP is one of the most controversial digital currencies in the top 10 list of the most capitalized digital currencies. One of the reasons for this is that despite its robust community, trading volume and whale actions, its price…
Key Points: Crypto Trump Trade is expected to return as Republicans adopt a pro-crypto stance to attract voters and funding. Donald Trump has pledged to advocate for Bitcoin mining and criticized democratic regulatory efforts if re-elected. Cryptocurrency may become the primary “Trump Trade” in the current election cycle as Republican prospects improve and their leading candidate, former President Donald Trump, according to Bernstein analysis. Crypto Trump Trade May Repeat If Former President Is Reelected Gautam Chhugani and Mahika Sapra, in their Monday report, highlighted that Republicans view a favorable position on the crypto industry as a dual advantage: attracting voters…
At the MicroStrategy World: Bitcoin for Corporations conference, Nathan McCauley, co-founder and CEO of Anchorage Digital, shared his thoughts on the growing rate of institutional Bitcoin adoption. Anchorage Digital, the only federally-chartered bitcoin bank and a leading institutional custodian, plays a crucial role in facilitating this transition to bitcoin becoming an asset in which institutions invest by providing secure storage and trading solutions for the asset. In an interview with Bitcoin Magazine, McCauley discussed the company’s mission, the evolving interest from institutions, and how Anchorage’s clients are dealing with bitcoin’s volatility among other topics. The Rise of Institutional Interest in…
After the approval of spot Bitcoin ETF in the USA, there was also approval for spot Ethereum ETFs. At this point, S-1 approvals are also awaited so that ETH ETFs may not start trading, and this approval is expected to come in early July. A new post came from Bloomberg ETF analyst Eric Balchunas on this subject. VanEck, whose spot Ethereum ETF application was approved, filed Form 8-A for the spot Ethereum ETF, which is just one part of the process, Balchunas said. Comparing BTC ETFs and Etherum ETFs through Form 8-A, the Bloomberg analyst pointed out that the issuing…