Ethereum spot ETFs witness increased institutional interest, recording a $145 million net inflow. According to statistics from SoSoValue, Ethereum ( ETH ) spot ETFs had a notable net inflow of $145 million on Dec. 17, indicating growing institutional trust in financial instruments backed by Ethereum. With a notable $135 million inflows on the day, BlackRock’s ETHA topped the inflows and now has the most net inflow of Ethereum spot ETF at $3.365 billion. With a net influx of $4.45 million, Grayscale’s ETH, a major participant in the ETF market, increased its previous net inflow to $616 million. With $5.72 billion in cumulative net assets, Grayscale’s ETHE ETF remains dominant despite yesterday’s lack of new inflows, maintaining a cumulative net outflow of $3.517 billion. You might also like: Ethereum price stalls at key price but on-chain metrics point to a surge Ethereum spot ETFs now have a $14.04 billion net asset value, which is equivalent to 2.96% of Ethereum’s entire market capitalization which is around $461.51 billion at the time of writing. As Ethereum continues to solidify its place in the digital asset market, institutional participation is increasing, as seen by the total net inflow across all Ethereum spot ETFs, which has now surpassed $2.46 billion. As investors look to get exposure to Ethereum’s core technology and growing ecosystem, the continuous capital inflows indicate growing confidence in the cryptocurrency’s position in the changing environment. You might also like: Bitcoin spot ETF net inflow reaches $637m
Ethereum spot ETFs witness increased institutional interest, recording a $145 million net inflow. According to statistics from SoSoValue, Ethereum (ETH) spot ETFs had a notable net inflow of $145 million on Dec. 17, indicating growing institutional trust in financial instruments…
Miles Deutscher focuses on strategic moves in the crypto market. He emphasizes the importance of timely reactions to market trends. Continue Reading: Miles Deutscher Implements Strategic Moves in the Crypto Market The post Miles Deutscher Implements Strategic Moves in the Crypto Market appeared first on COINTURK NEWS .
In 2025, buying a car with Bitcoin is not just a possibility; it’s becoming increasingly practical as more dealerships embrace cryptocurrency transactions. This growth in acceptance reflects the broader trend
Ripple’s launch of its stablecoin , RLUSD, marks a pivotal advancement for the XRP Ledger (XRPL) ecosystem. The stablecoin aims to drive innovation, expand use cases, and increase engagement within the XRPL ecosystem. The XRPL, renowned for its speed, scalability, and cost-efficiency, was built to support assets, including cryptocurrencies and fiat-backed tokens. According to Ripple’s Chief Technology Officer David Schwartz, the introduction of RLUSD brings significant advantages to the decentralized exchange (DEX) on the XRPL. In a recent video shared to X by Amelie (@_Crypto_Barbie), Schwartz highlighted how credible assets like RLUSD could enhance trading volumes, benefiting developers, users, and applications. The Role of XRP and RLUSD in the Ecosystem A standout feature of the XRPL DEX is its auto-bridging mechanism. This feature automatically identifies XRP as an intermediary to facilitate trades between different assets, ensuring transaction efficiency. Schwartz noted that the integration of RLUSD will further optimize this process, as it fosters more trading activity on the platform. RLUSD also has the distinction of having NYDFS approval , which places it above its peers. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 According to Schwartz, XRP and RLUSD complement each other due to their differing characteristics. While XRP is optimized for use as a bridge currency, RLUSD’s stability enables applications in sectors such as real-world asset tokenization, foreign exchange markets, and trade financing. One of the primary benefits of RLUSD lies in its potential to unlock new opportunities for developers and builders in the blockchain space. The demand for stablecoins has been increasing, driven by their utility in facilitating global transactions and reducing volatility. Ripple’s stablecoin aims to capitalize on this trend by encouraging innovative on-chain applications. For Ripple’s proprietary payment solutions, Schwartz revealed that XRP will continue to serve its purpose as a bridge currency. However, RLUSD’s introduction allows Ripple to expand its ecosystem into new areas. Schwartz emphasized that this move positions Ripple to address the growing demand for stablecoin-based applications, particularly in markets that require price stability. The XRPL recently experienced a boom because of meme coins , and the attention from RLUSD could take the ecosystem to new heights. Schwartz closed the video stating, “We’re entering a growing market expected to see significant expansion, especially with stablecoins. Builders will certainly take advantage of the new opportunities presented by this ecosystem.” Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple CTO Explains How RLUSD and XRP Complement Each Other appeared first on Times Tabloid .
Australian Securities and Investments Commission has filed a lawsuit against Binance Australia Derivatives alleging failure to comply with consumer protections. Binance Australia derivatives exchange trading as Oztures Trading Pty Ltd misclassified over 500 clients as wholesale clients. ASIC Files Lawsuit Against Binance Australia Derivatives In a press release on December 18, the Australian regulator ASIC said it has sued Binance Australia Derivatives. The regulator alleges that the exchange offered crypto derivative products to 505 retail investors , misclassifying them as wholesale. From July 7, 2022–April 21, 2023, Australian retail investors were denied critical consumer protections under Australian financial services laws. This represents 83% of its Australian client base . ASIC claims that retail investors trading crypto derivative products need consumer protections, including disclosure statement and compliant dispute resolution scheme access. Also, the regulator highlighted that Binance Australia Derivatives also failed to make Target Market Determination (TMD) under design and distribution obligations. “Binance allegedly failed to ensure that the services it provided under its Australian financial services licence were provided efficiently, honestly and fairly,” said ASIC Deputy Chair Sarah Court . In addition, it added that Binance’s compliance systems were inadequate and exposed investors to high-risk, speculative products without consumer protections. Besides, many clients have suffered significant financial losses. The exchange needs to comply with the conditions of its license, claims the regulator. Binance’s Arm Faced Problems in 2023 Binance’s Australian arm has a history of regulatory challenges and conflicts with the regulator. In June 2023, Binance Australia ceased Australian dollar (AUD) deposits and withdrawals by bank transfer. Earlier, Australian Securities and Investments Commission canceled the derivatives license of Binance Australia Derivatives in April. It began a probe against the exchange for mistakenly categorizing traders as wholesale investors. Recently, Australian regulator ASIC released draft guidance offering greater clarity on digital asset regulation and current financial product definitions. However, it faced criticism from crypto industry experts, warning exodus of firms from the country. The post Binance Australia Derivatives Exchange Sued By ASIC appeared first on CoinGape .
The post FED Rate Cut Expectations: 96% Chance of a 25 Basis Points Cut Today appeared first on Coinpedia Fintech News The US Federal Reserve is set to hold its final meeting for the year 2024 today. It is expected that the US Fed will make some important announcements after the meeting. There is a high chance of the announcement of a 25 basis points interest rate cut. Let’s examine the scenario. US Fed Expected to Cut Rates Again According to Kalshi, there is at least a 96% probability that the Federal Reserve will announce a 25 basis points rate cut today. This year, the US Fed has already executed at least two rate cuts. Once the new rate cut is implemented, the total rate cuts of 2024 will reach as high as 100 basis points. US Inflation Metrics Back on the Rise Inflation pressure has risen sharply in the last couple of months. This adds complexity to the Federal Reserve’s attempt to stabilise the economy. At the start of this year, the US CPI Index was as low as 308.417 Points. In April, it rose to 313.55 points. In October, it touched the yearly peak of 315.66 Points. However, in November, it slightly dropped to 315.49 Points. In January, 2024, the US Producer Prices index was at 142.683 Points. In June, it reached 144.834 Points. Since June, it has grown consistently. In November, it touched a yearly peak of 146.493 Points. At the beginning of the year, the US Personal Consumption Expenditure Price index was around 122.115 Points. In April, it touched a peak of 123.234 Points. Since June, it has surged steadily. In September, it was at 123.931 Points. In October, it climbed to a monthly peak of 124.266 Points. US Labour Market Challenges It was the deteriorating situation in the US job market that primarily prompted the policymakers to consider the rate cut option. Though initially the job market witnessed certain improvements, recently it began weakening. The US Initial Jobless Claims index was 224K on November 30. In the first week of December, it rebounded to 242K – the level it was at least 8 weeks earlier. On November 23, the US Continuing Jobless Claims index was at 1.87K Thousand. On November 30, it surged to 1.89K Thousand. What to Expect for 2025 It is important to understand the outlook of the US Federal Reserve for the year 2025. The US is going to see a new government assuming the White House in late January next year. Data indicates that the primary challenge for the upcoming government will be balancing inflation control with economic growth.
You can buy a car with Bitcoin in 2025 — explore the benefits, risks and top crypto-friendly dealerships, along with essential tips for a smooth purchase.
The crypto industry has achieved a notable victory with the departure of SEC Commissioner Caroline Crenshaw, known for her firm anti-crypto stance. The Senate Banking Committee’s decision to cancel her renomination effectively ends her tenure, signaling potential regulatory shifts. A Controversial Tenure Crenshaw, who joined the SEC in 2020, was a close ally of SEC … Continue reading "SEC Commissioner Crenshaw’s Exit Sparks Optimism for Crypto" The post SEC Commissioner Crenshaw’s Exit Sparks Optimism for Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform .
Ethereum spot exchange-traded funds (ETFs) have logged 16 consecutive days of positive daily inflows, renewing optimism for ETH’s potential new all-time high (ATH) in the coming weeks. However, for ETH to reach this milestone, it must surpass the critical resistance level of $4,000. Ethereum Spot ETFs Attracting Consistent Inflows According to data from SoSoValue, Ethereum spot ETF inflows have remained consistently positive since November 22. The cumulative net inflows total $2.32 billion, with a significant $1.5 billion added between November 22 and December 16 alone. Related Reading: Ethereum Finally Set For A New All-Time High? Here’s What Analysts Say Breaking it down by weekly inflows, the week ending December 13 saw net inflows of $854.85 million, closely followed by $836.69 million during the week ending December 6. Moreover, the total net assets held by Ethereum ETFs have climbed to $14.28 billion, which represents approximately 2.93% of ETH’s total circulating supply. Grayscale’s Ethereum Trust (ETHE) ranks as the largest holder with $5.87 billion in net assets, followed by Blackrock’s iShares Ethereum Trust (ETHA) with $4.02 billion. These strong inflows into Ethereum ETFs have bolstered bullish sentiment, with Ethereum bulls anticipating a possible rally to a new ATH for the second-largest cryptocurrency by market cap. Crypto analyst Momin Saqib took X to share his thoughts on ETH price action. The analyst noted that ETH looks poised to break through the local highs of the $4,000 range and is eyeing the $4,500 price level. He added: Ethereum inflows have been coming in non-stop for the last few weeks! After seeing $BTC at $107K…. I think institutions don’t have much options left to bet on higher upside of crypto industry! Higher! Looking at Ethereum’s weekly chart, the digital asset has made four significant attempts to break through the $4,000 resistance level. While it briefly surpassed this level during its second attempt, creating its current ATH of $4,878, it ultimately proved to be a false breakout, followed by a prolonged bear market over the next two years. Analyst Rekt Capital noted that ETH’s post-breakout retest of the $3,100 price level was successful, propelling the cryptocurrency back into the $4,000 zone. They highlighted that ETH has held above the $4,000 zone as support for the second consecutive week, a key development that could pave the way for further upward momentum. Despite The Potential Upside, ETH Traders Remain Cautious While strengthening fundamentals, bullish technical indicators, and persistent ETF inflows paint a positive picture for Ethereum, some analysts remain cautiously optimistic about ETH’s short-term price action. Related Reading: Ethereum Crosses $3,800: Is The ‘God Candle’ Nearing? Analysts Weigh In For instance, analyst CryptoBullet emphasized that ETH may see a quick wick to $3,700 before rebounding. The analyst added that ETH’s ability to hold above key resistance levels indicates its strong bullish momentum. Another factor potentially dampening short-term optimism is Justin Sun, founder of Tron (TRX), who recently unstaked $208 million worth of ETH from Lido Finance. This move has raised concerns about potential selling pressure. ETH trades at $3,947 at press time, down 0.2% in the past 24 hours. Featured image from Unsplash, Charts from SoSoValue, X and TradingView.com