Author: NBTC
A closely followed crypto analyst says is turning bullish on Bitcoin (BTC) as the flagship crypto asset hovers above $70,000. In a new strategy session, trader Michaël van de Poppe tells his 734,900 followers on the social media platform X that Bitcoin could see a 10% to 38% rise in price between now and the end of the year. “It was less than two to four weeks and we’ve got close to the all-time high for Bitcoin. What’s next? I think $80,000 in November, $90,000 [to] 100,000 in December.” Bitcoin is trading at $70,258 at time of writing, about 4.7%…
Venture capital (VC) funds invested $860 million in crypto startups last month, a 30% leap from the amount registered in September and the highest since April’s $954 million earlier in the year, according to DefiLlama data. Investments in the blockchain gaming sector surpassed $110 million, growing for the third consecutive month by showing a significant 75% leap between September and October. The mobile gaming studio Azra Games conducted the largest funding round in this sector, receiving $42.7 million from Pantera Capital, a16z Crypto, and NFX. Infrastructure dominance Infrastructure solutions secured the most prominent VC investments, with $609 million in venture…
Notable crypto community figures are increasingly convinced that XRP will be the next crypto asset to secure an ETF listing, with some issuing immediate timelines to watch. This confidence follows the latest announcement from Grayscale, one of the most prominent crypto asset managers, launching an XRP Trust. On Thursday, Grayscale Investments introduced the Grayscale XRP Trust, providing investors with a new way to tap into XRP’s potential. The trust offers exposure to XRP, and by investing in it, eligible investors can gain access to a protocol with significant real-world applications, according to Rayhaneh Sharif-Askary, Grayscale’s Head of Product. Remarkably, the…
Zanzibar’s government is seeking to support blockchain startups and recently launched a sandbox where they can experiment with new products and services before they launch publicly. At the same time, the Vietnamese government has launched a national blockchain strategy with one bold goal: to become Asia’s blockchain hub. Zanzibar launches blockchain sandbox Zanzibar has launched a sandbox for blockchain startups to spur innovation from local companies and attract innovators from neighboring countries. In its announcement, the Zanzibar government welcomed all startups developing solutions on the blockchain and utilizing other emerging technologies such as AI. However, it revealed it would prioritize…
The crypto market will witness $2.29 billion in Bitcoin and Ethereum options contracts expire today. This massive expiration could impact short-term price action, especially as both assets have recently declined. With Bitcoin (BTC) options valued at $1.94 billion and Ethereum at $344.92 million, traders are bracing for potential volatility. Crypto Options Expiring Today This Friday’s Bitcoin options expiration involves 28,125 contracts, according to Deribit data. For Ethereum, expiring options total 137,866 contracts. These expiring Bitcoin options have a maximum pain price of $69,000 and a put-to-call ratio of 0.92. As the Put-to-call ratio stands below 1, this indicates a generally…
South Korea is launching a CBDC pilot project with plans to use central bank digital currencies for education and welfare vouchers. This initiative is a collaboration between the Ministry of Science and ICT, the Financial Services Commission (FSC), and the Bank of Korea. The project partners signed a memorandum of understanding (MOU) to assess the feasibility of CBDC-based deposit tokens as vouchers for education, culture, and welfare. The project will address limitations of the current voucher system, such as high transaction fees, slow processes, and fraud risks. With the CBDC project, the government aims to create a more convenient and…
The new Grayscale XRP Trust is the first step toward a spot XRP ETF launch, but it would need to go through three more lifecycle stages. As The Crypto Basic reported yesterday, Grayscale Investments, a leading crypto asset management firm, recently unveiled its XRP Trust, giving accredited investors exposure to Ripple’s XRP token. The XRP Trust is an important step toward an eventual XRP Exchange-Traded Fund (ETF), a product that would allow broader public access to XRP investments. However, before the XRP Trust can transform into an ETF, it must progress through four key stages. Four Stages of the Grayscale…
The DePin IoTeX blockchain has just announced the integration with the MetaMask wallet to enhance its set of decentralized physical infrastructures. Thanks to the “snap” function, IoTeX users will be able to improve the accessibility and use of this technology, making it available to the entire community. Specifically, the advantages concern the possibility of sending tokens to web3 domains, converting io and 0x formats, and accessing real-time updates of the chain. Let’s see all the details below. IoTeX enhances DePin functionalities by integrating with the MetaMask wallet The expansion of the MetaMask Snap service IoTeX enhances DePin functionalities by integrating…
Ryan Lee, the chief analyst at Bitget Research, observed that while Bitcoin exchange-traded funds play a major role in driving demand, multiple factors are contributing to Bitcoin’s momentum. Since January 2024, when spot Bitcoin (BTC) ETFs began trading in the U.S., the market has witnessed massive inflows. These investment products have accumulated over $24 billion in net flows—with $5.4 billion in net inflows in October alone. However, Lee told crypto.news that ETFs are not solely responsible for Bitcoin’s bullish trend, as the asset retested the $73,000 mark amid an impressive rebound. Political and technical factors fueling bullish sentiment Lee pointed…
Hong Kong has announced two new partnerships with the central banks of Brazil and Thailand to explore the application of tokenization in cross-border initiatives. The two partnerships are part of Project Ensemble, an initiative the Hong Kong Monetary Authority (HKMA) launched in March to explore a wholesale central bank digital currency (CBDC) and tokenization in the city-state. The central bank followed this up with the launch of the Ensemble Sandbox in August to further support tokenization in the city, with (NASDAQ: MSFT) and HSBC (NASDAQ: HSBC) joining the first cohort of participants. This week, the HKMA announced that it had…