Sluggish Debut Hong Kong’s spot Bitcoin and Ethereum exchange-traded funds (ETFs) have had a lackluster start, with trading volumes falling short of expectations. Despite large initial issuance sizes, market interest has been subdued. Low Trading Volumes The ChinaAMC Bitcoin ETF, Harvest BitcoinSpot ETF, and Bosera HashKey BTC ETF saw modest trading volumes on their first…
Hong Kong’s Crypto Ambitions Hong Kong has made a big move in the crypto world by launching Asia’s first Bitcoin and Ether ETFs. This shows the city’s desire to become a global hub for digital assets. Bitcoin’s Dominance Bitcoin, the most popular cryptocurrency, has seen a surge in investor interest this year. The launch of…
Partnership Overview Ripple, a leading payment company, has joined forces with Hashkey DX, a subsidiary of Hashkey Group, to introduce enterprise solutions powered by XRP Ledger (XRPL) in Japan. This strategic alliance aims to provide businesses with innovative blockchain-based services. XRPL Solutions for Japan Ripple and Hashkey DX will collaborate to bring XRPL capabilities to…
Ethereum (ETH) Surge Crypto analyst Bluntz believes Ethereum is preparing for a significant surge. Both the ETH/USD and ETH/BTC pairs are showing strength, indicating a potential bull run. Bluntz suggests that ETH completed its corrective phase and is now entering a new uptrend. Bullish Divergence in ETH/BTC The ETH/BTC pair has formed a bullish divergence,…
Outflows Hit Crypto Products Institutional investors have withdrawn a staggering $435 million from crypto products last week, marking the third consecutive week of outflows, according to CoinShares. Bitcoin and Ethereum See Heavy Losses Leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) experienced significant outflows of $423 million and $38 million, respectively. Grayscale Outflows Decelerate Grayscale, a…
Accounting firm KPMG has reported that institutional investors are increasingly turning to cryptocurrencies as a way to protect their investments against the potential devaluation of fiat currencies by central banks. Canadian Market Growth In Canada, KPMG’s study found that: 50% of financial service providers now offer crypto asset services, up from 41% in 2021. 39%…
Bitcoin analyst Willy Woo believes a crucial moment is approaching for the cryptocurrency as the bearish trend fades. Bearish Momentum Easing Woo notes that the cumulative volume delta (CVD) indicator, which measures buying and selling volume, is showing signs of less bearishness. He highlights a key level of $59,600 that has historically separated bullish and…
Price Drop Scenario Crypto analyst DonAlt suggests that Bitcoin could drop to as low as $42,000. He believes this correction could be necessary for the continuation of Bitcoin’s bull run. Support Break and Washout DonAlt predicts that Bitcoin could break below its current support level of $60,000, leading to a drop to $52,000 or even…
SEC’s Warning to Exchanges Thailand’s Securities and Exchange Commission (SEC) has issued a warning to crypto exchanges about misleading advertising. Exchanges must ensure their ads are accurate and focus on protecting investors. Regulatory Compliance Exchanges must adhere to regulatory rules, including: Avoiding false or exaggerated claims Disclosing risks clearly Not pressuring customers into investments IBA…
Hashrate Sets Record For the first time ever, Bitcoin miners need more than 1 exahash per second (EH/s) of computing power to mine just one Bitcoin (BTC). This is a new all-time high for the “Hashcoin” indicator, which tracks the daily hashrate required to produce 1 BTC. Constant Block Time Bitcoin’s blockchain ensures that the…
