Category: Crypto market

Forex Signals Brief March 6: Tariff Talk Will Likely Undermine the ECB Today

Posted on by Skerdian Meta

Today the ECB is expected to cut interest rates, but the attention will likely be on tariff talk again, which will drive markets around.

ECB President Christine Lagarde
ECB President Christine Lagarde

Continue reading “Forex Signals Brief March 6: Tariff Talk Will Likely Undermine the ECB Today” →

U.S Government plans Special Rights For Bitcoin

Posted on by Olumide Adesina

US Commerce Secretary Howard Lutnick has confirmed that the Trump administration will present plans for a strategic Bitcoin reserve at the upcoming White House Crypto Summit on March 7,.

“The president believes that there is a Bitcoin strategic reserve,” Secretary Lutnick explained in an interview with The Pavlovic Today, adding that Bitcoin will probably hold a special place in the nation’s national cryptocurrency reserve, which will also include Ethereum, Solana, XRP, and Cardan.

“The issue of how we manage the other cryptocurrencies will now come up. And when we do that on Friday, I believe the model will be revealed. ‘ He added

President Donald Trump has come under fire after declaring on social media that assets other than Bitcoin would be included in the nation’s cryptocurrency reserve. Opponents argue that since Bitcoin is the only decentralized asset that can be used as a long-term store of wealth, centralized altcoins shouldn’t be included.

Opponents argue that since Bitcoin is the only decentralized asset that can be used as a long-term store of wealth, centralized altcoins shouldn’t be included in such a systemic project.

Peter Schiff, a critic of Bitcoin, stated that he can see the reasoning behind a reserve that only contains Bitcoin but not altcoins.

Lutnick responded by restating Trump’s desire for a Bitcoin-only basket without discounting the other assets in the suggested basket. According to Lutnick, “Bitcoin is one thing while the other currencies and crypto tokens will, I believe, be treated differently — positively, but differently.”.

The Securities and Exchange Commission formed a Crypto Task Force to provide the industry with a “sensible regulatory path.”. Several industry representatives have met with the task force to understand their regulatory concerns.

Upbit Biggest Player in XRP Market, South Korea high interest on Ripple

Posted on by Olumide Adesina

Upbit, a South Korean cryptocurrency exchange, has become the dominant player in the Ripple market.  A possible explanation for Ripple’s increasing popularity among the Asian crypto community

 

Market analyst Kate Young Ju shared data from CryptoQuant showing that Upbit now holds “twice as much” of XRP as Binance, the world’s largest cryptocurrency exchange by trading volume, surpassing Binance as the largest holder.

Coinmarketcap data showed the South Korean exchange is the market leader in XRP trading volume, accounting for over 14% of the asset’s overall trading turnover. Binance accounted for nearly 12 percent of the coin’s trading activity,  Coinbase at 7.27 percent.  XRP transactions from Bybit, Bitget, and Gate.io were 3:1%, 2.8%, and 2:4%, respectively.

The increased curiosity is consistent with a larger pattern of South Korean investors getting more involved with cryptocurrencies. Thirty percent of South Koreans have exposure to the crypto market.

President Donald Trump’s announcement of a national crypto reserve, which may include XRP and several other significant altcoins, was the primary catalyst for its recent bull run.

Although such a narrative helped to reinforce bullish sentiment, gains were mostly short-lived amid a sell-off at the beginning of the week erased earlier price surge amid an unstable geopolitical environment.

Whales have also been active; this week, they acquired over 300 million XRP, demonstrating their strong belief in the future of cryptocurrency.

Upbit lately moved 30 million XRP which caused volatility and fueled rumors that demand was driven by the so-called “Kimchi Premium.” The phenomenon is that, in comparison to other global markets, cryptocurrency assets trade at higher prices in South Korea.

Market watchers have suggested that if South Korean traders continue their aggressive buying spree, the volatility of Ripple’s native token may intensify.

Mt. Gox Exchange transfers 12,000 BTC

Posted on by Olumide Adesina

The defunct crypto exchange, Mt. Gox, recently moved a huge amount of Bitcoin. Blockchain analytics company Arkham Intelligence noticed 12,000 Bitcoin moving from a mountain on March 6.

The wallet is linked to Gox. less than $2 in fees were charged for the transaction, which transferred 166.05 BTC to the exchange’s cold storage and 11,834 BTC to an unidentified wallet.

Arkham Intelligence data indicates that wallets associated with Gox currently contain 36,080 Bitcoin,  worth roughly $3.3 billion.

This is the first activity from these wallets following a small 4 BTC transfer between cold storage addresses in January, It’s still unknown why the most recent transaction occurred. In December, Mt. After moving over 24,000 Bitcoin, Gox moved 1,620 BTC through anonymous addresses in weeks.

Mt. Gox, once the largest Bitcoin exchange, went bankrupt after losing more than 800,000 BTC in 2014. Creditors are still pursuing repayments even after a lengthy bankruptcy process that lasted for years

The trustee in charge of Mt. Gox’s funds recently extended the payback deadline from Oct. 31, 2024, to Oct. 31, 2025. Some creditors await Bitcoin/Bitcoin Cash disbursements, while others have already received fiat repayments.

The market has reacted to past Bitcoin movements linked to Gox, but the current transfers have had little impact on BTC prices. Traders are still cautious about potential sell-offs, in case full repayments begin.

 

Forex Signals Brief March 5: Tariff Talk Shaking Crypto & Stock Markets Again

Posted on by Skerdian Meta

The tariffs talk has taken center stage, rattling forex, crypto and the stock market, which will keep driving them today on top of US ADP employment and Services data.

Trade Tariffs Keeping Markets Volatile
Trade Tariffs Keeping Markets Volatile

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U.S. Crypto Summit: Ethereum, Solana, Ripple Uninvited

Posted on by Olumide Adesina

The White House will host its inaugural crypto summit on Friday amid conspicuous names missing on the list.

Prominent business executives have confirmed that they will be there. These include Matt Huang, a co-founder of Paradigm, David Bailey, the CEO of Bitcoin Magazine, and Michael Saylor, the founder of MicroStrategy.

Among them is J P. Richardson the CEO of Exodus., Zach Witkoff, co-founder of World Liberty Financial, and Kyle Samani, co-founder of Multicoin Capital.

Chainlink co-founder Sergey Nazarov, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, and Kraken CEO Arjun Sethi also confirmed attendance.  20 to 25 people will attend the roundtable meeting.

AI and Crypto Czar David Sacks is expected to lead the crypto summit, which replaces President Donald Trump’s promised crypto council.

Critics contend that a more direct representation of Ethereum, Solana, and XRP ought to be present, even though executives from companies with significant stakes in the crypto assets were present. Ethereum educator Sassal says several confirmed attendees are actively developing on Ethereum. Ethereum Layer 1 powers World Liberty Finance.

Members of the Presidential Working Group on Digital Assets will be involved, indicating a concentrated attempt to match regulatory concerns with crypto policy.

 

 

Blockstream plans Bitcoin lending program

Posted on by Olumide Adesina

Blockstream secured a multimillion-dollar investment to launch three new institutional funds, two of which permit lending Bitcoin.

 

“Blockstream’s institutional-grade Bitcoin investment solutions will go live on April 1 with external capital acceptance opening on July 1,” the company said, confirming a previous March 4 Bloomberg report on X. “.

The investment products will also offer hedge fund strategies that give institutional-grade exposure to Bitcoin markets, USD-collateralized borrowing that enables investors to access liquidity without selling Bitcoin, and Bitcoin-backed lending and safe institutional financing with Bitcoin collateral.

President Donald Trump’s plans for a strategic crypto reserve were mocked by many industry leaders, including Adam Back, the CEO of Blockstream and huge Bitcoin supporter because they would include cryptocurrencies other than Bitcoin.

Blockstream launched its new asset management division, introducing the Blockstream Alpha Fund and the Blockstream Income Fund.

The Income Fund focused on loans ranging from $100,000 to $5 million. The Alpha Fund concentrates on portfolio growth and exposes investors to “infrastructure-based revenue streams like Lightning Network node operations’.

Blockstream was introduced in 2018 to facilitate speedier transactions and raised $210 million in convertible notes. Blockstream now offers crypto-focused investment funds joining firms like Grayscale, Pantera, and Galaxy Digital

Cardano defends Ripple’s XRP Technology

Posted on by Olumide Adesina

Charles Hoskinson, a co-founder of Cardano, emphasized XRP’s technological prowess, durability, and robust community in response to a prominent crypto critic.

Prominent economist, gold supporter, and outspoken Bitcoin critic, Peter Schiff, questioned the rationale behind XRP’s inclusion in the reserve.

He wrote, “XRP is a great technology, a global standard, has one of the strongest communities, and has survived for ten years through many harsh cycles.”

 

Schiff supported the Bitcoin strategic concept. “I understand why there should be a Bitcoin reserve,” Even though I disagree with it, I understand. We have a reserve of gold. Bitcoin is superior to analog gold because it is digital gold. Thus, let’s also establish a Bitcoin reserve. “.

Schiff, however, voiced doubts over Ripple’s inclusion, “But what’s the rationale for an XRP reserve? Why the hell would we need that?

While XRP’s utility-based role is still less well understood by those in traditional finance, many outside the cryptocurrency industry consider Bitcoin as the leading digital asset with store-of-value characteristics more akin to gold.

The president made the right choice.  many in the cryptocurrency industry were taken aback by Hopkinson’s response given previous conflicts between the Cardano and XRP communities. However, his comments supported the claim that XRP has proven resilient over time and has played a significant role in the ecosystem of digital assets.

The community’s reaction was equally noteworthy. Hoskinson’s defense of the asset surprised David Schwartz, Ripple’s Chief Technology Officer and one of the main designers of the XRP Ledger.

Am I dreaming?!” Schwartz wrote in a post on X in response to Hoskinson’s tweet, highlighting the surprising nature of Hoskinson’s backing in light of previous disputes between Cardano and XRP figures.

Hoskinson’s defense and Schiff’s criticism highlight the continuing debates in the cryptocurrency and financial industries. The argument over which cryptocurrencies are strategically significant will continue as digital assets acquire institutional and governmental recognition.

BTC, XRP Price Bounce – Ripple Breakout of $2-$3 Range Will Decide Direction

Posted on by Skerdian Meta

The volatility in crypto continues, as the bitcoin BTC and Ripple XRP price makes massive swings this week, both of which bounced today after finding support earlier in the day.

Ripple has formed a strong support one at $2-$2.20 Continue reading “BTC, XRP Price Bounce – Ripple Breakout of $2-$3 Range Will Decide Direction” →