As rumors of the possible approval of Litecoin ETF widely spread, LTC price jumped by 18% over 24 hours to $118. Launched as an alternative for Bitcoin in 2011, the cryptocurrency draws much interest among analysts and investors alike. Canary Capital has made a significant step forward in its quest for a Litecoin ETF. The company recently filed an amendment to its S-1 registration form with the US Securities and Exchange Commission, a move that industry experts interpret as a sign of ongoing discussions with the regulatory body. Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists For market watchers and crypto aficionados alike, this development has spurred a great ounce of optimism. Considered as a good indication of possible approval, the revised filing indicates that the SEC has responded on Canary’s application. Analysts Comment On Litecoin ETF Approval Prospects Senior ETF analyst Eric Balchunas of Bloomberg has publicly expressed his opinion that the “most likely” contender for the next spot crypto ETF approval is a Litecoin ETF. This prediction has gained traction in the crypto community. Balchunas does, however, also recognize the uncertainties the forthcoming shift in SEC leadership brings. Though the date of his Senate confirmation is yet unknown, the choice of former SEC commissioner Paul Atkins—considered crypto-friendly—by President-elect Donald Trump has spurred hope even further. We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that’s a huge variable. https://t.co/cKFswPwcr0 — Eric Balchunas (@EricBalchunas) January 15, 2025 James Seyffart, another Bloomberg ETF expert, said that the change could mean that the SEC has given feedback on the application. NEW: @CanaryFunds just filed an amended S-1 for their Litecoin ETF filing. No guarantees — but this might be indicative of SEC engagement on the filing. Still no 19b-4 filing yet though (A 19b-4 would actually start the potential approval/denial clock) h/t @isabelletanlee pic.twitter.com/wFtNOmbmYx — James Seyffart (@JSeyff) January 15, 2025 Investor Activity & Market Reaction A Litecoin ETF promises to set off a major market reaction. Large holders of Litecoin have been accumulating the cryptocurrency, with addresses holding at least 10,000 LTC collectively acquiring an additional 250,000 LTC since January 9. Related Reading: Analyst Declares XRP A Bullish Favorite – Rally Imminent? This trend of buying more Litecoin is similar to what happened in early December. It shows that big traders are having a strong effect on Litecoin’s price trajectory. The trading activity has also increased sharply, with Litecoin’s 24-hour volume jumping over 240%, reaching $1.7 billion. Implications For The Crypto Market If approved, a Litecoin ETF would represent a big milestone for the digital currency. Litecoin would then join Bitcoin and Ethereum as the only cryptocurrencies with US-approved spot ETFs, strengthening its market position. Featured image from DALL-E, chart from TradingView
The integration of ElizaOS into Merlin Chain will allow the deployment of AI agents with the ability to facilitate cross-chain activities. Merlin Chain Partners With ElizaOS to Bring AI Agents to Bitcoin Merlin Chain, the bitcoin layer 2 network has announced a strategic integration with ElizaOS, an AI agent project. By working together, developers can
In a pivotal development for crypto investors, Arkham has unveiled enhanced capabilities for tracking the Bitcoin assets of MicroStrategy, as reported on January 17th. This monitoring tool arrives at a
Bitcoin’s recent market activity suggests a prolonged stagnation phase, highlighted by the emergence of a death cross in moving averages. Despite a 2.58% recovery, Bitcoin’s inability to maintain upward momentum
Bitcoin has entered a stagnation phase, signaling mid to long-term stagnation as death cross emerges.
In a recent conversation with Fundstrat’s head of digital asset strategy, Sean Farrell, it was posited that bitcoin could climb to $175,000 within the year. This statement came shortly after the firm’s co-founder, Tom Lee, asserted on CNBC that bitcoin is poised to be the top-performing asset of the year. Farrell’s Forecast: Bitcoin to Breach
A new Bitcoin growth wave could be on the horizon, a Russian analyst has claimed. But while this could see BTC prices swell to $120,000, a “correction” could also see Bitcoin dip back to the $80,000 mark. Per the Russian-language news outlet Business Gazeta , the claims came from Nikolai Dudchenko, an analyst at the financial and media group Finam. Bitcoin Growth Wave Incoming? Dudchenko said there was “still a possibility that the price of Bitcoin will rise again” in the near future. The expert was speaking in the wake of a four-week period that has seen Bitcoin drop from prices over the $108,00 mark down toward the $90,000 threshold. Bitcoin prices over the past 12 months. (Source: CoinGecko) The token is trading for just over $99,000 at the time of writing. The coin briefly rose to the $102,000 mark on January 9. “On the matter of further [Bitcoin] price dynamics, we believe that the probability of another wave of growth remains. The only question is this: Will the wave be sparked by a deeper correction in BTC/USD, or will it begin in the very near future?” Nikolai Dudchenko, analyst at Russian financial/media group Finam Cryptocurrency exchange BitMEX has been fined $100 million for violating the federal Bank Secrecy Act by failing to adequately police money laundering, the DOJ said https://t.co/9hUmB2w2TD pic.twitter.com/nwZpcLD9gD — Reuters Legal (@ReutersLegal) January 15, 2025 The Trump Factor Dudchenko added that if a “correction” does take place, this could see the price of Bitcoin drop to $80,000. But should the price instead rise again in the short term, the expert said that the “nearest target for possible growth” was the $120,000 mark. Dudchenko suggested that a range of factors could affect Bitcoin prices’ imminent “sharp” growth or fall. Chief among these, however, will be the imminent inauguration of US President-elect Donald Trump on January 20, he said. Russia claimed it damaged ground infrastructure of one of the largest natural gas storage sites in Ukraine’s Lviv region during a series of attacks on the country’s energy sector https://t.co/fasi3Elxps — Bloomberg (@business) January 16, 2025 A Sensitive Market? The expert hinted that the markets appear extremely sensitive to “statements” on crypto policy and regulation coming from Washington and the Trump team at Mar-o-Lago. Dudchenko said that Bitcoin is currently “consolidating in the range of $90,000 to $100,000.” However, he warned that “volatility” was likely during Trump’s inauguration period, with the market braced for developments. Source: Dune/@21co Dudchenko said that market watchers would be wise to recall that “the reason for the fall in the price of Bitcoin at the end of December 2024” was a speech from the head of the US Federal Reserve System Jerome Powell. Powell argued against the creation of a national Bitcoin reserve. However, on January 16, the New York Post said that Trump was “receptive” to the idea of building strategic reserves. Crypto crowd ready for blue skies under Trump administration: Four-year ‘harassment’ is over https://t.co/A7TxwwlBzj #NYNext pic.twitter.com/3dWLC7pL6N — New York Post (@nypost) January 16, 2025 Unnamed sources told the media outlet that the president-elect was considering building a reverse basket of Bitcoin and altcoins such as XRP and Solana . The post Another Wave of Bitcoin Growth ‘Still Likely’ – Russian Analyst appeared first on Cryptonews .
XRP climbed to its highest level since January 2018, driven by optimism surrounding emerging crypto regulations, even as the US Securities and Exchange Commission (SEC) filed an appeal against a key court ruling. The price of XRP surged to $3.20 on Jan. 15, marking a seven-year high, before retreating slightly to $3.09 as of 8:45 a.m. UTC on Jan. 16. CoinMarketCap data shows XRP gained over 32% in the past week. This rally occurred despite the SEC’s appeal filed on Jan. 15. The agency seeks to overturn a July 2023 decision by District Judge Analisa Torres, which ruled that XRP sales to retail investors were not unregistered securities. Ryan Lee, chief analyst at Bitget Research, noted that XRP’s price momentum is largely due to Ripple Labs’ partial legal victories and growing investor optimism about regulatory clarity. “XRP’s surge can be attributed to favorable outcomes in Ripple’s SEC lawsuit and a more crypto-friendly political climate in the US. If regulatory uncertainties are resolved, the influx of institutional investors could further solidify XRP’s position in the crypto market,” Lee told Cointelegraph . RippleNet’s expanding adoption has also strengthened XRP’s appeal in the market, Lee added. Investor confidence is rising ahead of US President-elect Donald Trump’s inauguration on Jan. 20. His administration is expected to provide greater regulatory clarity for cryptocurrencies and consider the Bitcoin Act, aimed at establishing a strategic Bitcoin reserve for the US economy. Looking ahead, an XRP exchange-traded fund (ETF) could serve as a major price catalyst in 2025. JPMorgan estimates that an approved XRP ETF could attract $3 billion to $6 billion in net new investments, similar to Ether ETFs. Some analysts predict XRP could surpass $14, supported by technical indicators like a bullish pennant formation. Crypto analyst Steph Is Crypto highlighted potential targets of $14 and $5 in a recent post.
Coinbase, the largest U.S.-based crypto exchange by volume, is rolling out bitcoin-backed loans in the U.S., allowing customers to borrow up to $100,000 in USDC stablecoins. While the transactions are processed through Coinbase’s front end, the loans themselves come from Morpho , a decentralized finance (DeFi) lending platform on the Base blockchain. The crypto lending protocol allows the user to borrow up to 86% of the value of their bitcoin collateral to account for bitcoin’s price volatility. If the collateral’s value drops below a set percentage of the value of the stablecoins borrowed, it is liquidated. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Senator Lummis investigates U.S. Marshals' Bitcoin asset sale plans. Continue Reading: Senator Lummis Takes Action Against Bitcoin Asset Sales by U.S. Marshals The post Senator Lummis Takes Action Against Bitcoin Asset Sales by U.S. Marshals appeared first on COINTURK NEWS .