Hong Kong Gives Greenlights for its First Bitcoin, Ethereum Spot ETFs

Hong Kong, on Monday, approved several spot Bitcoin and Ethereum exchange-traded funds(ETFs), the latest development in its quest to become a major cryptocurrency hub. The Hong Kong Securities and Futures Commission (SFC) officially granted these approvals to China Asset Management (Hong Kong), Bosera Capital, and HashKey Capital Limited, as well as an in-principle approval for Harvest Global Investments. “The introduction of the Virtual Asset Spot ETFs not only provides investors with new asset allocation opportunities but also reinforces Hong Kong’s status as an international financial center and a hub for…

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Nigeria, South Africa, and Kenya Lead the Way as Africa’s Most Crypto Nations

Nigeria remains the undisputed king of crypto in Africa with far and away the highest number of crypto users/holders in all the continent. Interestingly, Africa’s four powerhouse economies are the four countries with the most crypto holders – Nigeria, SA, Kenya, and Egypt, respectively. Bitcoin continues to hold or maintain a respectable valuation and is currently the brightest of all cryptocurrencies. The world is still going crazy for virtual currencies and Africa, the leapfrog continent, never to be left too far behind, has emerged as a crypto haven. Interestingly, the…

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AFRICA: UN Trade Body Cautions Developing Countries Against Cryptocurrencies, Here is Why!

According to the UN, there should be a need to regulate cryptocurrencies in Africa, exchanges, digital wallets, and decentralized finance. Countries should also prevent regulated financial institutions from holding cryptocurrencies which include stablecoins or offering related products to clients.  Cryptocurrencies in Africa are growing at an exponential rate. As this signifies the dawn of new financial technology on the Continent, the United Nations think otherwise. According to the UN Conference on Trade and Development (UNCTAD), if cryptocurrencies become a widespread means of payment and even go as far as replacing…

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Crypto market to hit $5 trillion by end of the year, says Ripple CEO

Ripple CEO, Brad Garlinghouse, has predicted the crypto market to cross the $5 trillion threshold by the end of the year. According to the CEO of the blockchain company, the total market capitalization of the crypto market has what it takes to double its size before 2024.  Garlinghouse backed his prediction by outlining several factors that he thinks will be the driving force behind the meteoric rise he envisions for the crypto market. The CEO highlighted the upcoming Bitcoin halving, an event which has over the years, proven to be…

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Render Token to Hit $500? Unveiling the Potential Rise of Render Token and Factors Behind Its Growth

According to analysts, Render has a lot of potential, and could go as high as $500, especially with its circulating supply of 381 million. Render (RNDR) token has emerged as a promising contender in the crypto space, boasting the potential for a substantial rise in value. It remains one of the few coins that surged by at least 700% last year (2023) with an overall Return on Investment (ROI) of 25,774%. Currently, its price is $10, after surging by 146% in the last 90 days, and 112% from year-to-date. Just…

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Ripple Plans to Launch USD Stablecoin On XRP Ledger

Ripple Labs, the parent company of the digital coin XRP, has announced plans to launch its USD-pegged stablecoin this year. Speaking to reporters, Brad Garkinghouse, Chief Executive Officer of the company stated that, the stablecoin will be backed by a one-to-one reserve of US dollar deposits, short-term US government treasuries, along with other cash equivalents.  Ripple’s stablecoin will initially be available on the XRPL(XRP Ledger) and the Ethereum (ETH) blockchains using XRPL native functionality and ERC20 token standards but plans to expand to additional networks and decentralized finance (DeFi) protocols…

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Bitcoin Could Hit 200k, Double Digits for XRP after Next 2024 Halving in April?

Bitcoin halving

Bitcoin halving – In technical analysis, we understand that the prices of cryptos can be predicted by observing and analyzing charts and patterns or historical price behaviour. The next Bitcoin halving event is estimated to take place on April 17, 2024, and from the previous history, BTC, XRP, and the rest of the crypto investors could smile again. Interestingly, Bitcoin, for the first time, breached its all-time high price before the halving event after hitting $73k. In this article, I will explain why the digital asset could go as high…

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The Monetary Authority of Singapore announces new crypto regulations – Will it Affect Market?

Under the new regulations, customer digital assets must be segregated from the service provider’s assets, offering an enhanced safeguard against the risks of misappropriation and insolvency. A key feature of the updated guidelines is the requirement for service providers to store 90% of customer assets in cold wallets, which are not connected to the internet, thereby significantly reducing the vulnerability to cyber theft. The Monetary Authority of Singapore (MAS) has announced the implementation of new financial regulations targeting the cryptocurrency industry. The new regulations will enter into effect starting from…

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United States Government transfers $130 million in seized Bitcoin to Coinbase

US government moves $130million worth of Bitcoin to a Coinbase wallet. The United States government has reportedly moved approximately $130 million worth of Bitcoin to the digital wallet of one of the biggest crypto exchanges in the world, Coinbase Global Inc.  The latest development comes after the United States government announced in January, that it was going to offload almost $2 billion worth of Bitcoin, confiscated from the now-defunct dark web marketplace, Silk Road, as part of an “expected eventual liquidation of the seized assets.” Initial reports stated that the…

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16 million XRP purchased by Whale on South Korean Exchange – Will XRP Price Surge?

Whale purchases 16 million XRP on a South Korean exchange, indicating a potential bullish surge for the asset. The number of addresses with holdings of between 10 million and 100 million XRP coins jumped from 1,537 on March 16 to 1,565 on March 28. An unknown XRP whale has acquired 16 million XRP from a cryptocurrency exchange in South Korea. Data from Whale Alert, the blockchain firm that reported the transaction, the stated amount was transferred from Upbit, one of the largest crypto exchanges in South Korea to an unknown…

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