Salvadoran Coffee Producers Reap Rewards Using Bitcoin for Cross-Border Payments

Salvadorans are increasingly leveraging bitcoin for cross-border payments, reducing reliance on intermediaries. Compass Coffee, a U.S.-based company, recently purchased Salvadoran coffee using bitcoin, ensuring fair pricing for producers. The Salvadoran

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Grayscale XRP Trust Surges 11.44% One Week After Launch, Here’s The Catalyst

Grayscale’s XRP trust has grown noticeably since launch, a development which spells positive momentum for the digital asset. As one of the leading cryptocurrency asset managers in the world, Grayscale’s decision to unveil the first XRP trust in the US last week signaled the beginning of an institutional influx of funds into the cryptocurrency. Since its debut, the Grayscale XRP Trust has performed remarkably well. Data indicates that the trust’s value has surged by 11.44%, a clear indication of strong demand from institutional investors. Value Of Grayscale XRP Trust Rallies Grayscale’s XRP trust tracks the price of the altcoin, and investors buy shares of the trust to gain exposure to the cryptocurrency. When talking about the momentum building behind Grayscale’s XRP trust, we are looking at its Net Asset Value (NAV). The NAV is a measure of the value of each share in the trust and is calculated after every business day. A rising NAV is an indicator of increased institutional investment in the trust. As such, an increase in the NAV relates to a bullish sentiment among traders and the spot price of XRP. Related Reading: Here’s Why A Green September Close Is Important For The Bitcoin Price According to the manager’s website, NAV for the XRP trust currently stands at $11.79, which translates to an increase of slightly above 11.4% in just one week after launch. This impressive rise is not a result of chance but rather the outcome of several positive developments within the broader XRP ecosystem, which work together to signal the continuation of positive momentum. What Is Driving The Momentum? One of the primary drivers behind this bullish momentum is the highly anticipated launch of Ripple’s USD stablecoin, RUSD. The upcoming stablecoin has generated considerable excitement in the cryptocurrency community, as it is expected to play a pivotal role in enhancing liquidity and cross-border payment solutions. The stablecoin is set to debut before the end of the year, but institutional investors are cautiously awaiting further regulatory clarity from the SEC before making larger moves into the market. Related Reading: Is This The End For Ethereum Or A Generational Opportunity? Another factor boosting confidence in XRP is the recent inclusion of the cryptocurrency on the European version of Robinhood. As one of the largest trading and investment platforms, this is a major achievement for the cryptocurrency because it opens up adoption to the large European market. Lastly, the launch of the Grayscale XRP Trust itself has reignited hopes that a Spot XRP Exchange-Traded Fund (ETF) could soon follow. While no concrete applications have been made by any investment companies, the creation of the Grayscale XRP trust is seen as a critical first step toward the eventual approval of a Spot XRP ETF. At the time of writing, the altcoin has been trading at $0.59, which has been up by 1.17% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin Bullish Breakout To $0.24: Analyst Reveals Key Levels To Watch

Various analysts think that the popular doggy-themed meme coin Dogecoin (DOGE) is showing incredibly bullish signs this market cycle. Despite witnessing severe declines in the past few months, a particular analyst has predicted a massive bullish breakout to $0.24, providing a chart representation illustrating how the price of DOGE is expected to rise gradually to

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US Company Settles Salvadoran Coffee Purchase With Bitcoin

According to information from the Salvadoran Ministry of Foreign Affairs, Compass Coffee, a U.S.-based coffee company, has completed an international purchase of Salvadoran coffee using bitcoin. Jorge Cruz, the Salvadoran counterpart in this transaction, explained that he received the payment in less than 10 minutes, bypassing the need for intermediaries in these deals. Salvadoran Coffee

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U.S. SEC approves options trading on BlackRock's spot bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) on Friday approved the listing and trading of options on BlackRock's ( NYSE: BLK ) spot bitcoin ( BTC-USD ) exchange-traded fund. BlackRock's ( BLK ) iShares Bitcoin Trust ETF ( NASDAQ: IBIT ) is the world's largest fund of the cryptocurrency, with net assets of $22.67B as of September 19, 2024. "Options on IBIT would provide investors with a hedging and risk management tool to manage exposure to the price of bitcoin and bitcoin-related products and positions," the SEC said in a statement . The options would be physically settled with American-style exercise, which refers to an options contract that allows holders to exercise their rights at any time before and including the expiration date. The options on IBIT would trade in a similar manner as other ETF options, the SEC said. "Huge win for the bitcoin ETFs (as it will attract more liquidity which will in turn attract more big fish)," Eric Balchunas, senior ETF analyst for Bloomberg, said on X (formerly Twitter). "Important note: This is just one stage of approval, the OCC and CFTC has to approve as well before they officially list. The other two don't have a 'clock' so not sure when they'll be approved. A big step (though) nonetheless that the SEC came around," Balchunas added, referring to the Options Clearing Corporation and the Commodity Futures Trading Commission. Options are contracts that give investors the right, but not the obligation, to buy (a "call" option) or sell (a "put" option) an asset at a predetermined price before a specific date. With bitcoin's ( BTC-USD ) tendency to show wild swings in price, options would allow investors to manage associated risks more effectively. The crypto industry in the U.S. received a major boost at the start of this year after the SEC's long-awaited approval of spot bitcoin ( BTC-USD ) exchange-traded products. Not long after, bitcoin ( BTC-USD ) surged to a record high north of $73K in March, though it has since retreated after its last halving on April 19, 2024. It was last +0.3% to $63,161.02. According to CoinMarketCap, the market cap of the global crypto industry stood at $2.2T. Here are some crypto-focused exchange-traded funds that investors can track: Bitcoin Backed ETFs: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), and ( EZBC ). Blockchain ETFs: ( BITQ ), ( DAPP ), ( BKCH ), ( BLOK ), ( CRPT ), and ( IBLC ). More on BlackRock and bitcoin Swimming With Giants - Don't Bet Against BlackRock BlackRock, Microsoft, Nvidia team up to launch $30B AI infrastructure fund Bitcoin: More Reserve Asset Than Global Currency Bitcoin on track to rise on weekly basis as Fed delivers jumbo rate cut MicroStrategy adds 7,420 more bitcoins to its balance sheet in past week

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Louisiana Residents Embrace the Power of Cryptocurrency Payments

Louisiana allows citizens to pay with Bitcoin and USDC for state services. Cryptocurrency payments will be converted to cash instantly for flexibility. Continue Reading: Louisiana Residents Embrace the Power of Cryptocurrency Payments The post Louisiana Residents Embrace the Power of Cryptocurrency Payments appeared first on COINTURK NEWS .

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Gold Surges to Record High Amid Federal Reserve Rate Cuts, Rally Poised for $3,000 Target

The cryptocurrency market is experiencing a resurgence, with Bitcoin leading the charge and crossing significant price milestones. Aside from Bitcoin, several altcoins are also showing substantial gains, indicating a broader

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Terraform Labs receives bankruptcy nod: A turning point?

How did the U.S. bankruptcy court's approval of Terraform Labs' wind-down plan affect Terra Luna Classic and LUNA prices?

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TOKEN2049 Singapore highlights: Vitalik singing, market reaction to rate cuts, and the future of the industry

TOKEN2049 has ended in Singapore. Here are three highlights from one of the most anticipated crypto conferences of the year. One of the largest industry conferences, TOKEN2049, was held from Sept. 18 to 19 in Singapore. It brought together leading…

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TOKEN2049 Singapore highlights: Vitalik singing, market reaction to rate cuts, and the future of the industry

TOKEN2049 has ended in Singapore. Here are three highlights from one of the most anticipated crypto conferences of the year. One of the largest industry conferences, TOKEN2049, was held from Sept. 18 to 19 in Singapore. It brought together leading…

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