After the slump at the end of September, the digital asset market has made a major recovery in the last week. Investors began to show renewed interest, driven by an increased appetite for safety-haven investments due to the uncertain economic climate. US government’s first Closed in 6 years
Bitcoin’s (BTC) value may rise due to the growing demand for secure assets.BTCCharles Edwards, founder of Capriole Investments, believes that if gold continues to rally it could lead to an all-time record high of $150,000. Bitcoin recovered over the $120,000 threshold on Thursday, for the first since August 14. It continued trading above $120.122 as of Friday’s writing.
The ballooning deficit in the French central bank’s financial standing may also provide opportunities elsewhere another Bitcoin catalystCould lead to “trillions of euros” Arthur Hayes is the co-founder and CEO of BitMEX cryptocurrency exchange. He says there has been a recent influx of liquidity in Bitcoin due to money being printed by European Central Bank.
Bitcoin $120,000 Breakout will Lead to “very quick move” Charles Edwards: $150,000
Charles Edwards, founder of Capriole Investments, believes that Bitcoin could reach a new high of $150,000. This is because investors will be flocking to safe havens like gold.
Bitcoin’s rise above the psychological $120,000 mark could lead to an increase in price. “very quick” Edwards, in an interview with Cointelegraph at Token2049 Singapore said that the breakout had reached a record high of $150,000. “I wouldn’t be surprised if we went up to $150,000 in a pretty short time, like we have to break out of the $120,000 range. But that’s probably coming, potentially in the next days.”
Data shows that Bitcoin has risen over 6% this week and is now above $118.500 for the first since August 15.
Edwards is less optimistic than other analysts that believe the current Bitcoin cycle may push it above $200,000.
André Dragosch, head of European research at Bitwise Asset Management, told Cointelegraph that the inclusion of crypto in US 401(k) retirement plans It could generate $122 billion of new capital. A 1% contribution by retirement funds, said he, could push Bitcoin to $200,000 or more before the end of this year.
Cathie Wood: Hyperliquid “reminds me of Solana in the earlier days”
Cathie Wood CEO at ARK Invest compared Hyperliquid’s promise with that of Solana in the early stages, calling it “the new kid on the block.”
“It’s exciting. It reminds me of Solana in the earlier days, and Solana has proven its worth and is, you know, there with the big boys,” Wood said In a recent video interview, a woman said that she felt “very comfortable” in the workplace. “Master Investor” podcast.
ARK Invest holds Bitcoin, Ether and ARK Invest in public funds.ETHSolana ),SOL). Wood explained that the company has a direct connection to Solana through Breera Sports. Middle Eastern investors also support this project. Art Laffer, an economist with advisory connections to the project was also mentioned by Wood.
Wood said that she has not taken a position with Hyperliquid. However, she described it as a protocol to keep an eye on. She made her remarks as competition among perpetual futures DEXs have been heating up since Aster released a token at the beginning of this month, and its trading volume increased. open interest surge past Hyperliquid.
Roman Storm asks for acquittal on Tornado Cash Money transmission charge
Roman Storm, the co-founder and CEO of Tornado Cash asked for a US Federal Judge to clear him from his conviction of unlicensed money transfer and for a jury hung on money laundering charges and sanctions. He argued that prosecutors had failed to show he was trying to assist bad actors in misusing Tornado’s crypto mixer.
Storm’s defence argued in legal documents submitted on Sept. 30, to the US District Court for Southern District of New York, and reviewed by Cointelegraph that the prosecution failed to show he had intended to aid bad actors. Tornado Cash. The defense argues that this will nullify his conviction for negligent inaction.
“Storm and bad actors was a claim that he knew they were using Tornado Cash and failed to take sufficient measures to stop them. This is a negligence theory,” This motion is made.
Defense argued that “lacking affirmative evidence that Mr. Storm acted with the intent to assist bad actors,” The government tried to prove its burden of willfulness by alleging that the defendant had failed to stop misuse. “It is a claim that is antithetical to the willfulness standard and unsupported by the law,” This motion is made.
Motion for acquittal The judge was asked to dismiss the charges and verdict, because even though the evidence of the prosecution is true, it’s not sufficient.
Dragonfly Execs: SEC’s tokenized shares push is not beneficial for crypto.
Rob Hadick is the general partner of crypto venture company Dragonfly. He says that tokenized equity will bring a lot of benefits to traditional markets but it may not benefit crypto as much as others had predicted.
“There’s no doubt it has a big effect on TradFi,” Hadick said to Cointelegraph in Singapore at the TOKEN 2030 conference. “They want 24/7 trading, it’s better for their economics.”
But he did not understand the benefits of major crypto-players in real-world asset tokenization, like Ethereum.
US Securities and Exchange Commission (SEC) is reportedly developing After many financial institutions asked the regulator for an always-open market, a plan was developed to let blockchain-based versions of stock trade on cryptocurrency exchanges.
Hadick claimed that institutions are a threat to democracy “don’t want to be directly on these general-purpose chains,” Give away Robinhood Stripe is an example of a company that has built its own blockchain.
“They don’t want to share the economics. They don’t want to share block space with memecoins. They want to be able to control things like privacy [and] who the validator set is, they want to be able to control what is happening in their execution environment.”
Centralized exchanges will be DeFi front ends in 5–10 years: 1inch co-founder
According to Sergej Kunz, co-founder of 1inch, centralized crypto exchanges could disappear in the next decade due to decentralized financial (DeFi), aggregators taking over.
Kunz, in an interview conducted with Cointelegraph during Token2049 Singapore, predicted that exchanges would gradually transition to frontends. decentralized exchanges (DEXs). “I think it will take like five to 10 years,” He said.
Kunz claimed that centralized markets are isolated, but 1inch and their aggregator acts as a hub for global liquidity. He made his comments as 1inch revealed a partnership with Coinbase, the largest US crypto-exchange. The deal will integrate 1inch’s service for DEX trading.
Kunz noted that centralized exchanges’ investments in onchain technology shows that they understand that the technology on which they rely is outdated. “will not stay forever because you have decentralized exchanges and digitalized finance.”
“They don’t want to miss the train and stay behind, and they adopt our technology, because it’s something which, from our point of view, will empower the whole financial industry,” He said.
Overview of the DeFi Market
Data from Cointelegraph Markets Pro TradingView reports that the majority of top 100 cryptos by market cap ended up in green.
Zcash is a privacy-preserving digital currency.ZECThis week, the DeXe (DEXEOn the chart, a 34% increase in tokens is recorded.
We thank you for taking the time to read our weekly summary on DeFi. Next Friday, we’ll be back with more information and stories about this rapidly evolving space.
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Source: cointelegraph.com
