XRP’s push above $2.90 collapsed under heavy selling on Sept. 25, with a $277 million volume spike hammering price back to $2.75. The move erased more than $18 billion in market value over the past week and confirmed fresh resistance at $2.80, leaving traders bracing for a test of $2.70 support. News Background • XRP […]
Raoul Pal, founder of Global Macro Investor, has drawn attention to a widely circulated chart that compares bitcoin’s (BTC) movements with global M2 money supply. The chart shows that since early 2023, bitcoin has tended to track global M2 money supply with a consistent 12-week lag, implying that changes in liquidity conditions filter through to […]
The Hong Kong Monetary Authority (HKMA) warned investors it has not approved any stablecoin issuers, labeling the marketing of such products as illegal, the SCMP reports. The statement came after Hong Kong-based AnchorX announced the introduction of AxCNH, a stablecoin pegged to the offshore Chinese yuan. The company said it held a license from Kazakhstan’s […]
RedotPay, a Hong Kong-based payments fintech, said it raised $47 million in strategic investment, bringing in Coinbase Ventures as a new backer in a round that lifted its valuation above $1 billion, giving it so-called unicorn status. The round included contributions from existing investors Galaxy Ventures and Vertex Ventures, the company said in a Thursday […]
M2 Capital Limited, the investment arm of UAE-based M2 Holdings, has invested $20 million in Ethena’s governance token, ENA. The move underscores a push to connect Middle Eastern investors with new digital asset infrastructure at a time when the region is seeking a larger role in global finance. Ethena is best known for its crypto-native […]
An ether (ETH) whale took a multi-million dollar loss on its bullish bet on Thursday after the cryptocurrency’s price dipped below $4,000 for the first time since Aug. 8. The whale address labelled 0xa523 had its leveraged bullish position worth 9,152 ETH ($36.4 million) forcibly liquidated by the decentralized exchange Hyperliquid, according to blockchain analyst […]
Key metric tied to BlackRock’s Nasdaq-listed spot bitcoin (BTC) exchange-traded fund, IBIT, has been flashing warning signs for two straight months. IBIT’s one-year put-call skew, a measure of market sentiment or pessimism, flipped positive on July 25 and has remained comfortably above zero since then, according to data source Market Chameleon. That’s two straight months […]
Bitcoin (BTC) remains stagnant in the $110,000 to $120,000 range, while gold and U.S. equities hover near all-time highs. According to Glassnode’s Accumulation Trend Score by cohort, selling pressure is evident across all wallet groups. This metric measures the relative strength of accumulation based on the size of entities and the volume of coins acquired […]
Ripple’s RLUSD stablecoin is being integrated into tokenized money-market funds from BlackRock and VanEck, giving holders of the products a direct redemption path into on-chain liquidity. Through a new smart contract on Securitize’s platform, investors in BlackRock’s BUIDL and VanEck’s VBILL funds can now swap their shares for RLUSD on demand, creating what Ripple calls […]
Blockchain analytics firm Elliptic has secured a strategic investment from HSBC, making it the only company in the sector to be backed by four globally systemically important banks (G-SIBs). HSBC joins JPMorgan Chase, Santander and Wells Fargo on Elliptic’s investor roster. As part of the deal, Richard May, Group Head of Financial Crime at HSBC’s […]
Bitcoin’s (BTC) break below key support has prompted a flurry of ‘buy the dip’ calls on social media. However, liquidity trends suggest a potential for a deeper decline. BTC has dropped over 3% to $111,590 this week, piercing the widely-tracked 50- and 100-day simple moving averages (SMA). Both indicators have lost their upward momentum for […]
YZi Labs, the family office founded by Binance co-founder Changpeng “CZ” Zhao, may open up to external investors, the Financial Times reported on Tuesday. The $10 billion investment company, which was rebranded from Binance Labs, is open to the possibility of converting into an investment fund, head of YZi Labs Ella Zhang said in an […]