Exodus Crypto Wallet Maker Approved for NYSE American Listing ————— NFA.
Coinbase has announced the listing of Parcl, a Solana-based decentralized real estate trading platform. The cypto exchange will list Parcl (PRCL) token on December 17, starting on or after 9:00 AM Pacific Time, subject to liquidity conditions. Coinbase plans to…
Coinbase has announced the listing of Parcl, a Solana-based decentralized real estate trading platform. The cypto exchange will list Parcl ( PRCL ) token on December 17, starting on or after 9:00 AM Pacific Time, subject to liquidity conditions. Coinbase plans to add the PRCL-USD trading pair once there is sufficient supply. According to the U.S.-based crypto exchange, PRCL transfers will be available on both Coinbase and Coinbase Exchange. However, the rollout will be phased, with availability restricted in certain jurisdictions. Read more: Coinbase delists Tether, other MiCA noncompliant stablecoins What is Parcl? Parcl is a decentralized real estate platform that provides access to city indexes, including major destinations like New York, San Francisco, and London. The project enables liquid real estate investment, allowing users to trade with up to 50x leverage. On Parcl, investors can speculate on or hedge real estate price movements. These assets are represented by index prices that reflect the average price per square foot or meter of real estate in a given area. Apart from this, Parcl is a member of the RWA Council that looks to accelerate real-world assets on Solana ( SOL ). Other members include AgriDex, Baxus and Collector Crypt. You might also like: Solana-based RWA platform AgriDex secures $4m in strategic round PRCL price Parcl’s token generation event ended in April 2024, with 800 million PRCL distributed after the April 8 snapshot. Coinbase added PRCL to its listing roadmap on Dec. 14, with this coinciding with a price surge for the token. The token reached a multi-month high above $0.60 before retreating as the broader market mirrored Bitcoin’s dip from its previous all-time high. In the past 24 hours, Parcl price has soared by more than 13% to retest the eight-month high. If bulls take the initiative, the token’s value could aim for the April 22, 2024 all-time high of $0.73. Read more: Coinbase to list PNUT meme coin
Crypto wallet company Exodus Movement (EXOD) has been approved to list on the NYSE American, the New York Stock Exchange's sibling market. Exodus, which will be listed under its current ticker at the open of trading on Dec. 18, was originally meant to be listed on NYSE American in May, but the U.S. Securities and Exchange Commission (SEC) said it was still reviewing the company's registration . The approval of Exodus' uplist may be a sign of a change in the regulatory sentiment toward cryptocurrency following President-elect Trump's victory in November's election with the promise of running a pro-crypto administration. "We expect this uplisting will raise Exodus’ corporate profile, while also enhancing liquidity for our current and future shareholders," CEO of Exodus JP Richardson said. Exodus stock, currently listed on the OTC Markets (OTCQX), rose as much as 10.5% before pairing all of thegains. Read More: How Trump Can Help Crypto on Day One
Ethena, one of the fastest-growing decentralized finance (DeFi) platforms of 2024, today announced the launch of its new stablecoin, USDtb. According to the developers, this stablecoin is designed to complement the protocol’s platform’s native stablecoin, the USDe token, and balance its performance in bearish crypto market conditions. USDtb is pegged to the US dollar and holds 90% of its reserves in BUIDL, a tokenized money market fund issued by asset management giant BlackRock in partnership with Securitize. Ethena founder Guy Young highlighted the innovation behind USDtb, saying: “Given the rapidly growing demand for different stablecoin options, we saw a clear opportunity to offer users a new product that offered a completely different risk profile to USDe without them having to leave our trusted ecosystem.” Related News: BREAKING: Coinbase Announces New Altcoin Listing During Massive Bull Rally Ethena has attracted nearly $6 billion in user funding since going public earlier this year. The company’s native token, USDe, maintains its $1 price by implementing what it describes as a unique investment strategy: shorting perpetual swaps on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) while increasing funding rates. This approach has yielded impressive returns during bull markets (currently 27% annually), but has struggled in bearish conditions due to persistently negative funding rates. To address these risks, USDtb will serve as a balancing mechanism. During periods when funding rates are negative, Ethena will close underlying derivative positions in USDe and redirect assets to USDtb to mitigate losses. The team also plans to position USDtb as collateral for margin trading on centralized exchanges in the future. *This is not investment advice. Continue Reading: Binance-Listed Altcoin Launches Major New Product
FTX, the bankrupt cryptocurrency exchange, has announced plans to repay creditors under a reorganization plan set to take effect on January 3, 2025. The company stated that initial creditor distributions will begin within 60 days of the effective date, marking a crucial step in its efforts to resolve claims following its collapse in late 2022. FTX Plans For Reorganization and Creditor Repayments FTX has confirmed it has partnered with Kraken and BitGo to manage the distribution of funds to creditors and customers. Both firms have extensive experience in cryptocurrency custody and payment processing. Customers and creditors with allowed claims will receive payments either in cash or stablecoins, depending on individual preferences and jurisdictional guidelines. Kraken, a U.S.-based cryptocurrency exchange founded in 2011, has previously assisted in similar cases, including creditor payouts related to the Mt. Gox bankruptcy. Kraken said on Monday, “We are proud to support this distribution process, leveraging our experience in asset recovery and distribution.” BitGo, a cryptocurrency custodian established in 2013, emphasized its commitment to security in handling assets during the repayment process. CEO Mike Belshe stated, “We have safeguarded billions in crypto assets for institutions, prioritizing transparency and trust, and we are honored to support FTX.” This Is A Breaking News, Please Check Back For More The post Just In: FTX Announces Plans For Reorganization and Creditor Repayments appeared first on CoinGape .
Prominent Bitcoin supporter Kiyosaki says this asset is about to skyrocket in price after gold
The stablecoin market has experienced remarkable growth in 2024, driven by rising cryptocurrency adoption and a surge in institutional participation. All eyes are now on Ripple’s newly approved stablecoin, Ripple USD, a.k.a. RLUSD. But Ripple’s Chief Technology Officer, David Schwartz, addressed concerns over potential price anomalies for the asset as it prepares to launch. Speculative Hype Around RLUSD Unnecessary In a detailed statement on X, Schwartz explained that while Ripple USD (RLUSD) is designed to maintain a stable $1 peg, there could be temporary price fluctuations due to supply shortages during the initial launch phase. His comments were prompted by reports of RLUSD displaying an exorbitant price of $1,200 per unit on the Xaman trading platform, which stirred concerns within the crypto community. Schwartz clarified that such inflated prices likely stem from speculative behavior or individuals seeking the “honor” of acquiring the first fraction of RLUSD on decentralized exchanges. However, he stated that these aberrations are unsustainable and will likely be corrected quickly by arbitrage activities, restoring the stablecoin to its intended $1 value. The exec urged potential buyers to avoid succumbing to FOMO’s warning that RLUSD is not a speculative opportunity but a tool for stability in cross-border payments. He stressed that the essence of a stablecoin is price stability, and any deviations from the peg, especially at launch, should not be misinterpreted as lasting trends. “Please don’t FOMO into a stablecoin! This is not an opportunity to get rich.” Last week, Ripple CEO Brad Garlinghouse announced that RLUSD received final approval from the New York Department of Financial Services (NYDFS) and would soon debut, primarily targeting institutional players. RLUSD will play a crucial role in Ripple’s cross-border payment solutions, working alongside XRP to enhance liquidity and efficiency for global transactions. New Players in Stablecoin Space With a total market value of $211 billion, the stablecoin market is rapidly expanding as adoption grows. The San Francisco-based company is entering a space dominated by Tether’s USDT and Circle’s USDC, which have market caps exceeding $140 billion and $42 billion, respectively, according to CoinGecko. Ripple, however, sees an opportunity in the competition as it looks to position itself as a credible player capable of carving out market share. Schwartz, for one, had earlier predicted the stablecoin sector could exceed $2 trillion in value by 2028. The market’s potential has also attracted major fintech players like PayPal and Robinhood . The post Ripple CTO David Schwartz Warns Against RLUSD FOMO Amid Launch Speculation appeared first on CryptoPotato .
The post Coinbase To Add Support For Parcl (PRCL) On Solana Network appeared first on Coinpedia Fintech News In a latest development, Coinbase has revealed that it will add support for Parcl (PRCL) on the Solana network (SPL token). Trading is set to begin on December 17, 2024, at 09:00 UTC or later if liquidity conditions are met. The exchange noted that PRCL-USD trading pairs will be gradually launched once sufficient supply is available, and support for PRCL may be restricted in certain jurisdictions. This altcoin, already trading on various platforms, has been creating new highs influenced by positive news over the past few days. It is currently trading at $0.5938, up over 12% in the past 24 hours.
Hedera network has announced its integration with Chainlink’s decentralized oracle solutions to transform decentralized finance (DeFi) and real-world asset (RWA) tokenization. This collaboration incorporates Chainlink’s Data Feeds and Proof of Reserve into the Hedera ecosystem, introducing a secure, transparent, and decentralized data infrastructure for developers. Hedera Integrates Chainlink Data Feeds According to a recent announcement , Hedera has adopted Chainlink Data Feeds to enhance the security and transparency of its DeFi applications and tokenized real-world asset platforms. The integration ensures that developers on the Hedera network gain access to accurate, tamper-proof market data critical for building decentralized financial products. By using Chainlink’s decentralized oracle networks, Hedera developers can fetch reliable off-chain data for various applications. These include automated market makers (AMMs), lending protocols, and decentralized exchanges (DEXs). This infrastructure eliminates risks of data manipulation, improves risk management, and promotes liquidity in DeFi markets. The integration also strengthens Hedera’s ability to attract institutional users who require data verification systems for financial operations. This collaboration addresses long-standing challenges of trust and scalability in top DeFi protocols. Proof of Reserve Enhances Transparency for Tokenized Assets Chainlink’s Proof of Reserve (PoR) functionality has been integrated into the Hedera network to support the collateralization of tokenized assets. The tool provides real-time, on-chain verification of reserves. This ensures that tokenized RWAs are fully backed by their corresponding underlying assets. The PoR feature fetches reserve data from custodians and publishes it on-chain, allowing developers and users to access information instantly. This automated verification reduces risks associated with undercollateralized assets and enhances trust in tokenized financial products. Additionally, the decentralized nature of PoR eliminates single points of failure, ensuring transparency and security. More so, this integration, makes the tokenization process accessible for businesses seeking to leverage blockchain technology for asset management. Chainlink SCALE Program Supports Hedera Developers To encourage innovation, the HBAR Foundation has joined the Chainlink SCALE program, which subsidizes oracle services for developers on the Hedera network. The initiative will reduce costs associated with accessing the Oracle network’s decentralized infrastructure. By participating in the SCALE program, Hedera boosts a developer-friendly ecosystem. This partnership equips developers to build DeFi protocols and tokenized RWA applications while maintaining cost efficiency. Following the announcement, market activity surrounding LINK and HBAR tokens has increased. Moreover, analysis shows that recent developments have driven positive movements for LINK price with a potential for a rally to $60. Key factors include Coinbase’s integration of LINK’s Oracle network and World Liberty Financial’s $1 million investment, fueling investor confidence. On the other hand, Hedera price showed a slight reaction to market volatility, with minor upward movement in price. At press time, HBAR price was trading at $0.2881, showing a slight 1.24% decline despite the developments. The post Chainlink and Hedera Unite To Revolutionize DeFi and Real-World Asset Tokenization appeared first on CoinGape .