The post XRP News Today: Ripple Waits for the SEC Appeal While NovaDEX Gets Traction on Solana appeared first on Coinpedia Fintech News There’s been minimal activity with XRP’s price over the past few days and it seems that investors are waiting for the SEC appeal before they make any bigger moves. January 30 th is the next key date that the market is closely watching, and it could dictate the short-term future of XRP. At the same time, NovaDEX, a Solana-based high-performance DEX could gain more whale attention with its robust staking pool and yield farming tools. Just recently, NovaDEX’s mainnet went live and it already reached several important milestones. Below, we’ll check out all the latest details on both platforms. XRP News Today: SEC Appeal Strategy and Its Ripple Effects on XRP-Spot ETFs On January 23, the SEC held a closed meeting on enforcement cases, including Ripple’s. With Mark Uyeda as acting Chair, known for opposing non-fraud enforcement, a shift in priorities is possible. A withdrawal of the SEC’s appeal requires a quorum vote, and the recent rollback of SAB 121 suggests procedural changes. The next closed meeting on January 30 may offer clarity on legal settlements and enforcement actions. If the SEC drops its appeal, it could open the door for XRP-spot ETF approvals, a highly anticipated move. Meanwhile, XRP’s RSI at 65 indicates room for further gains before hitting overbought levels. NovaDEX Might be a Promising New Decentralized Exchange with Potential DeFi Innovations and Tools NovaDEX , a recently launched decentralized exchange (DEX), might introduce several exciting features to its users, including concentrated liquidity pools, yield farming opportunities, and staking options. Since its mainnet launch, the platform has shown encouraging signs of adoption, with over 85,000 transactions reported across various activities. Early traction is evident, with approximately 1,900 users engaging with the platform. This initial growth could signal increasing interest in NovaDEX’s offerings and its potential role within the broader DeFi ecosystem. What might differentiate NovaDEX is its permissionless pool model, which could allow users to create liquidity pools for any supported token. This flexibility could provide users with more options compared to traditional DEX platforms. Additionally, NovaDEX may offer competitive rates, including lower slippage and potentially higher APRs, which could make it an attractive option for liquidity providers seeking passive opportunities. Designed with user-friendliness in mind, the platform might simplify complex DeFi activities like token swapping, liquidity provision, and yield farming. This ease of use could appeal to both seasoned users and those new to decentralized finance. NovaDEX Could Create a Community-Driven Trading Ecosystem NovaDEX wants to embrace a decentralized governance model, potentially enabling its community members to play an active role in shaping the platform’s future. This approach could empower users to participate in key decisions and contribute to the project’s growth. Security seems to be a top priority for NovaDEX. The platform has completed a smart contract audit through QuillAudits, which helps ensure the safety of user assets and build trust in its community. NVX might serve as a central element, granting access to various features and benefits within the protocol. NVX has already reached significant milestones, including listings on established centralized exchanges like MEXC and decentralized platforms such as Raydium and Jupiter. The Takeaway While XRP awaits the SEC appeal and next regulatory steps, new projects could step in and start gaining traction. One project that may be particularly interesting is NovaDEX . This DEX platform has already reached some important milestones and could generate substantial buzz in the upcoming weeks with its robust tools. —- This article is not financial advice. Past results are not indicative of future returns, and the crypto market is inherently unpredictable. Readers must conduct their own thorough research before purchasing any crypto coin or token. These forward-looking statements are subject to risks and may remain unchanged.
Ethereum appears to be regaining momentum, showing a notable recovery after reclaiming the $3,200 level. The asset has surged over 5% in the past day, pushing its market capitalization and daily trading volume higher. This recent movement has narrowed the gap between Ethereum’s current price and its all-time high to just 33%, giving investors reasons to pay closer attention. Various analysts have weighed in on the potential implications of this price action, offering a mix of short- and long-term outlooks. Related Reading: Ethereum’s Prolonged Consolidation: What Is Really Going On? Analyst Weighs In Analysts Discuss Key Levels and Future Targets Elite, a well-known crypto analyst, pointed out that Ethereum’s resilience came in the face of “hawkish signals” from the Federal Reserve. The analyst wrote: Despite the Fed’s hawkish signals yesterday, ETH broke past the $3,200 mark, showing impressive resilience. But that’s not all—on-chain activity is soaring. According to IntoTheBlock data, active Ethereum addresses have increased by 37% over the last few months, reaching 670,000—significantly surpassing the 400,000 level seen in early 2024. This sharp rise in network activity is viewed by some as an indication of growing demand and renewed bullish momentum as the new year unfolds. Several other analysts have also shared their perspectives on Ethereum’s price trajectory. WorldofCharts highlighted the cryptocurrency’s consolidation within a tight range, forming a bullish pennant. He suggested that a successful breakout from this pattern could propel Ethereum toward the $4,000 resistance area. This ascending triangle level, previously outlined in his analysis, may serve as a critical milestone for the asset’s upward trajectory. $Eth #Eth Consolidating Within Tight Range Of Bullish Pennant, Expecting Upside Breakout Soon, Incase Of Successful Breakout Ethereum Can Target 4000$ Area Ascending Triangle Resistance Area “Which I Shared Recently” https://t.co/Gq5sYBiKfA pic.twitter.com/B36VRnN9Qm — World Of Charts (@WorldOfCharts1) January 30, 2025 Ethereum On The Path To A $9,000 Rally? Another prominent analyst, Ted, emphasized that Ethereum’s higher lows on longer timeframes signal a strengthening bullish structure. He identified the $4,000 level as pivotal, predicting that its recovery could open the door to a new all-time high. Related Reading: Ethereum Price Struggles Against Resistance: A Tough Road Ahead Ted went even further, forecasting that Ethereum could reach $9,000 to $10,000 within the next three to four months if these bullish conditions persist. This optimism is supported by growing on-chain activity and sustained investor interest. Ethereum is forming higher lows on the longer timeframe. $4K remains the most crucial level, and the reclaim of that will send $ETH to new ATH. Once that happens, I’m expecting Ethereum to hit $9K-$10K within 3-4 months. Trump will buy more and more 🔥 pic.twitter.com/c3fFVXh8Xl — Ted (@TedPillows) January 29, 2025 Featured image created with DALL-E, Chart from TradingView
Here's why asset manager VanEck is bullish on SUI in 2025.
Summary ICVT is a convertible bond ETF with significant exposure to bitcoin via holdings in MicroStrategy and Coinbase, impacting its performance. Traditional convertible bonds are equity plays with low coupons, but iShares Convertible Bond ETF's performance is heavily influenced by bitcoin prices. The ETF has a high technology sector exposure and political risk through holdings in Alibaba and JD. ICVT offers lower volatility but may underperform if bitcoin prices do not rally, given its holdings in MSTR 0% coupon bonds. Thesis When buying into a convertible securities fund, an investor is usually subject to equity and rates risk factors. The iShares Convertible Bond ETF ( ICVT ) is a bit more complex than that. The fund's stated objective is: The iShares Convertible Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated convertible securities, specifically cash pay bonds, with outstanding issue sizes greater than $250 million . With the equity market rally in the past year and lower Fed Funds from the central bank, ICVT has done well in the past year, being up almost +13%. However, an investor looking at this name should dig a bit deeper into the details and understand the true risk factors at play. In today's article, we are going to look at the fund holdings and its structuring, and articulate why retail investors need to understand that bitcoin prices play a large role in ICVT's performance, a fact not understood by many. Traditional converts are an equity play usually Going back to the basics, we have to highlight that traditional convertible bonds are mostly an equity play via their very low coupons and convertibles features: Convertible bonds are a type of corporate debt security that can be exchanged for a set number of shares in the issuing company. They are a combination of stocks and bonds, and can be a good way to diversify risk Rates are a secondary risk factor here, with lower rates helping converts funds via the discount factor and valuation. When digging into ICVT though, a third factor emerges: Top Holdings (Fund Website) The largest holding in the fund is a converts issuance from MicroStrategy Incorporated ( MSTR ), a company considered by many as a leveraged bet on bitcoin. Also, kindly note that Coinbase Global ( COIN ) is also represented in the top names, COIN being also very closely correlated with bitcoin prices. Please note that the 4.4% weighting above for MSTR converts is across a number of issuances, not just one bond: MSTR Holdings (Holdings) There are bonds with a 2027, 2028, 2029 and 2030 maturity here. Let us take an example and do a deeper dive. Large Bitcoin exposure via MSTR and COIN Let us look at the 0% coupon 2029 notes. You can find the announcement for the offering here : The conversion rate for the notes will initially be 1.4872 shares of MicroStrategy's class A common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $672.40 per share. The initial conversion price of the notes represents a premium of approximately 55% over the U.S. composite volume weighted average price of MicroStrategy's class A common stock from 1:30 p.m. through 4:00 p.m. Eastern Standard Time on November 19, 2024, which was $433.7997. The conversion rate will be subject to adjustment upon the occurrence of certain events. We have already established that the debt pays 0% coupon. Now, if we look at the terms for the conversion, we will see the initial conversion price of $672/share. Today, MSTR is trading at $346/share, therefore below the price of the company when it placed the debt. Kindly note the close correlation between MSTR and bitcoin. If bitcoin fails to rally from here until maturity date, the conversion feature will not be attractive, thus leaving investors getting just their principal back and nothing else. MSTR is not an operating company that makes widgets. MSTR is a financial entity that raises capital and purchases bitcoin with said cash. Converts are a more conservative way to bet on bitcoin since they represent debt, and debt has to be repaid in a principal format if the conversion price does not make sense. However, investors need to understand that the upside here for ICVT in its MSTR position lies squarely with bitcoin prices. COIN is a similar story, but COIN is less volatile and leveraged: Data by YCharts If we plot COIN, MSTR and bitcoin on the same graph (we are using the iShares Bitcoin Trust ETF - IBIT as a bitcoin proxy) we can see the almost one for one correlation between COIN and bitcoin, while MSTR is very leveraged. Technology exposure The fund has a high exposure to the technology sector, a sleeve where COIN and MSTR reside: Sectors (Fund Website) We have just shown you how in fact MSTR and COIN converts are bitcoin plays. The rest of the holdings are more traditional tech companies, but the fund does hold political risk exposure as well via its Alibaba ( BABA ) and JD ( JD ) holdings. Historic performance Converts do not have the full equity delta of an equities only fund, thus lag indices over longer periods of time: Data by YCharts We can see the fund outperforming only during the zero rates environment that characterized 2020/2021 which helped both the equity and bond component. In a higher rates environment like today's funds like ICVT tend to lag indices. On the flip side, they also have a lower volatility due to their composition. Unless the underlying company defaults, the ETF will get the principal back on the convert. This translates into a 3-year standard deviation of 12%, much lower than the 18% one on the S&P 500 index. Conclusion ICVT is a convertibles bond ETF. The name tends to do best when equities rally and rates move lower. The fund comes with a lower volatility of as measured by its 12% 3-year standard deviation, but currently contains a large exposure to bitcoin related companies. The article shows how MSTR and COIN are bitcoin plays, and the ETF contains 5% of exposure to the names combined. If bitcoin fails to rally significantly from here, these bonds will not generate much of a return, especially since a large proportion have a 0% coupon. Retail investors looking at the ETF need to fully understand the risk drivers behind this fund.
In a significant development for the crypto ecosystem, Circle has recently expanded its influence on the Solana blockchain. On January 31, as reported by COINOTAG News, Circle minted an impressive
New York Stock Exchange (NYSE) Arca has submitted a 19b-4 filing seeking to convert Grayscale’s XRP Trust into…
Storm, a co-founder of Tornado Cash, faces money laundering and sanctions violation charges in the U.S. government’s latest crackdown on crypto privacy tools.
ETF Flows: 30 Jan 2025 Bitcoin ETFs See $588.1M in Net Inflows Ethereum ETFs Experience $67.8M in Net Inflows ————— 💰Coin: Bitcoin ( $BTC ) $104,176.70 Ethereum ( $ETH )
Crypto Market Today, January 31: Bitcoin (BTC) and altcoins have again encountered a turbulent action right ahead of vital U.S. economic data release. As the PCE inflation data looms for Friday, traders and investors appear to be uncertain about the market’s performance ahead. Simultaneously, BTC traded near the $104K level as of press time, whereas leading altcoins illustrated mixed price actions. Here’s a brief overview encompassing some of the most trending coins for the day and how they are performing intraday. Crypto Market Today Reflects Uncertainty Ahead Of PCE Inflation Data The broader market eagerly awaits the December U.S PCE (personal consumption expenditures) inflation data, which is set to be released on January 31. Notably, this data remains much eyed by investors as it could pave the way for interest rate changes by the next FOMC. As a result, market participants are uncertain about future performances. In turn, even the global crypto market cap stagnated around the $3.5 trillion mark. Besides, the global market volume plunged by 16% intraday, reaching $105.07 billion. So, let’s delve deeper into the coins’ prices today. Bitcoin Price Briefly Touches $106K BTC price is currently trading at $104,331, down nearly 1% from yesterday. However, the coin briefly touched the $106K mark in its intraday movement while also reaching a low of $103,962. Notably, the volatile price action comes against the backdrop of looming U.S. PCE inflation data. Also, the flagship crypto’s futures OI dropped nearly 2% to $64.91 billion on Friday. Ethereum Price Fluxes Amid Broader Crypto Market Turbulence ETH price saw a marginal 0.5% jump in value over the past day, reaching $3,227. The coin’s 24-hour bottom and peak were $3,179.45 and $3,282.99, respectively. While the coin faces turbulence in tandem with the broader market trend, renowned analyst Ali Martinez spotlighted a highly bullish metric for Ethereum. Intriguingly, whales have heavily purchased the crypto amid its recent price dip, accumulating nearly 100,000 ETH. This massive accumulation underscores rising market confidence in the asset, signaling that potential gains are imminent. Source: Ali Charts, X XRP Price Slips XRP price slipped by nearly 1% in the past 24 hours and is currently resting at $3.09. The coin’s intraday low and high were $3.08 and $3.15, respectively. It’s noteworthy that the asset has consolidated around the $3 mark for quite some time, signaling that a potential breakout looms. Solana Price Today SOL price fell by nearly 2% in the past 24 hours, reaching $235 at the time of reporting. The coin’s 24-hour low and high were $235.39 and $244.33, respectively. Solana currently mirrors volatility in sync with the broader market trend. How Is The Meme Coin Market Performing? Simultaneously, Dogecoin (DOGE) price witnessed a 1% dip in value, reaching 0.3272. Further, even Shiba Inu (SHIB) price witnessed a marginal 0.3% decrease in value intraday, reaching $0.00001855. PEPE and TRUMP mimicked the broader sector’s action, exchanging hands at $0.0000128 and $25.49, respectively. Top Crypto Market Gainers Today JasmyCoin (JASMY) Price: $0.03261 24-Hour Gains: +30% DeXe (DEXE) Price: $20.48 24-Hour Gains: +21% Arweave (AR) Price: $15.76 24-Hour Gains: +18% Mantra (OM) Price: $5.57 24-Hour Gains: +15% Top Crypto Market Losers Today Official Trump (TRUMP) Price: $25.50 24-Hour Loss: -9% Jupiter (JUP) Price: $1.04 24-Hour Loss: -8% Pudgy Penguins (PENGU) Price: $0.01419 24-Hour Loss: -7% Optimism (OP) Price: $1.39 24-Hour Loss: -6% Overall, the broader market faces turbulence ahead of the PCE inflation data, as mentioned above. Nevertheless, market expert Michaël van de Poppe has posted on X , sparking some optimism over future movements. “I don’t think we’ll see nothing from the FED this year,” Michaël stated. Further, he added that there could be “multiple rate cuts ahead, a weaker Dollar and a strong bull run in Bitcoin, Ethereum, Altcoins and commodities.” The post Crypto Market Today Jan 31: BTC & Altcoins Turbulent Ahead Of US PCE Data appeared first on CoinGape .
HodlX Guest Post Submit Your Post Six steps on how an AML oracle for DeFi can work as a part of an atomic transaction It’s no secret that DeFi (decentralized finance) and AML (anti-money laundering) policies are difficult to align. Regulators and industry players advocate for the importance of regulation, but we face the stark reality – i t’s nearly impossible to implement effective oversight in this space. Meanwhile, stolen funds continue to be laundered through DeFi tools . How do we balance decentralization with legal obligations? Using oracles becomes an effective solution. Why traditional AML fails in DeFi – security and limitations of smart contracts Traditional AML policies struggle to adapt to the DeFi ecosystem because of a significant limitation. Smart contracts can’t make decisions that require external information, such as passing AML checks. These contracts are limited to the data available on the blockchain they run on. They cannot directly access data from other blockchains or external sources, such as websites or APIs. This is because smart contracts are executed by blockchain nodes, which do not have built-in internet connectivity and can only connect to their own blockchain. This design is intentional to preserve the security and decentralization of the blockchain. Blockchain consensus requires that all data used in a transaction must be recorded on the blockchain before the transaction can be executed. This ensures that the network operates in a trustless and secure manner, with all nodes agreeing on the same information. If smart contracts could connect to the internet, they would introduce security and operational risks. External data – like from websites or APIs – d oesn’t follow blockchain rules, making it possible for manipulated or false data to be fed into the system. Oracles bring additional information to DeFi apps This is where DeFi oracles play a key role. Oracles allow DeFi applications to bring in external data to the blockchain, enabling blockchain transactions to achieve consensus with this off-chain information. This information can include data from an AML platform, such as KYC (know your customer)/KYB (know your business) information, watchlists, blacklists, sanctions lists, transaction monitoring and transaction screening/filtering. The diagram below depicts how the AML oracle for DeFi works. How the DeFi compliance oracle works 1. User interacts with DeFi service Users engage with the DeFi service to perform common financial actions such as depositing, withdrawing, swapping, lending or staking assets. Before processing the transaction, the DeFi service must ensure the transaction complies with AML regulations. 2. DeFi service request to the AML oracle When a user initiates a transaction, the DeFi service requests an AML check for the user’s address and the associated data. The DeFi service communicates with the AML oracle smart contract, asking for the KYC/KYB assessment result and a transaction risk rating or address risk rating. 3. External AML provider monitors the AML oracle requests The external AML provider continuously monitors the AML oracle smart contract for incoming requests from DeFi services. Once the external AML provider detects a request, it begins the AML check based on the specific details provided in the request. 4. External AML provider screens blockchain and off-chain data The external AML provider conducts the AML check by analyzing both on-chain and off-chain data. On-chain data – such as transaction history, wallet addresses and other relevant blockchain activities Off-chain data, including sanction lists, watchlists and internet or deep web sources that contain information about suspicious addresses KYC/KYB data provided by users and linked to their corresponding blockchain addresses 5. AML provider responds After completing the check, the external AML provider writes the result to the blockchain and provides a reference to this data for the AML oracle smart contract. The result typically includes a pass/fail status and a link to more detailed data stored by the AML provider for audit purposes (to save on costly blockchain space). 6. DeFi service acts based on the AML check result Once the AML check result is available on the blockchain, the DeFi service automatically takes action based on its smart contract rules. If the user passes the AML check, the DeFi service proceeds with the transaction (deposit, withdrawal, swap, lending, staking, etc.). If the AML check fails or raises concerns, the DeFi service may halt the transaction or freeze the user’s funds. All of these steps occur as part of an atomic transaction In blockchain, an atomic transaction means that either all the steps in the process succeed or none of them do. This guarantees that no partial or inconsistent state is left, ensuring the integrity and security of the transaction. For example, if a user’s address appears on a sanctions list, the swap transaction would be automatically canceled by the blockchain’s rules – without any need for human intervention. This eliminates the risk of system failure or human error from a compliance officer. To sum up DeFi systems have the potential to integrate effective AML solutions. Achieving this goal will likely require time and effort. So far, oracles can be considered a universal technical solution for AML embodiment in DeFi. Lex Fisun is a CEO and co-founder at Global Ledger , a Swiss company providing cryptocurrency AML risk analysis, blockchain forensics and cybercrime investigation tools. Since 2015, Lex has worked in fintech, AI and anti-fraud tech companies, leading him to founding Global Ledger in 2019 in response to increased scrutiny of crypto regulations. Check Latest Headlines on HodlX Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Oracle Can Be a Go-To Solution for AML in DeFi – This Is How appeared first on The Daily Hodl .