After the slump at the end of September, the digital asset market has made a major recovery in the last week. The investor interest returned, as a result of heightened demand for assets that are considered safe havens due to uncertainty created by the US government’s first Shutdown in six years
Bitcoin may be a safe haven asset for those who are looking to invest.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 touched $120,000 for the first since August 14th. It continued trading above $121,122 as of Friday’s writing.
The ballooning deficit in the French central bank’s financial standing may also provide opportunities elsewhere another Bitcoin catalystIt may cause a number of problems. “trillions of euros” Arthur Hayes (co-founder of BitMEX, a cryptocurrency exchange) says that the European Central Bank’s recent money printing signals influx of new liquidity into Bitcoin.
Bitcoins $120,000 will be a breakout. “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 rebound above the psychological level of $120,000 may be a precursor to further price increases. “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’ view is conservative compared to other analysts who believe that the current cycle will push Bitcoin beyond $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 Could unlock new capital worth $122 billion. He said that even a 1% investment by retirement managers could be sufficient to push Bitcoin over $200,000 before the year’s end.
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 and SolanaSOL). Wood confirmed that Breera Sports is the main way in which Breera Sports is exposed to Solana. Middle Eastern investors are also supporting this venture. Wood also mentioned that economist Art Laffer had advisory links to the project.
Wood said she did not have a specific position with Hyperliquid. She described it as a protocol to keep an eye on. She made her remarks as a result of competition between perpetual futures DEXs are gaining momentum after Aster, which launched its token earlier in the month saw a significant increase in trading volumes. open interest surge past Hyperliquid.
Roman Storm asks for acquittal on Tornado Cash Money transmission charge
Roman Storm is the cofounder of Tornado cash. Storm asked that Roman Storm be acquitted of his single conviction for illegal money transfers and of a hung verdict for sanctions and money laundering. Storm argued that it was not proven by prosecutors that Storm intended to aid bad actors to misuse Tornado Cash.
Storm’s defence argued in legal documents submitted on September 30 to the US District Court for Southern District of New York, reviewed by Cointelegraph. Prosecutors failed to show he had intended to aid bad actors. Tornado Cash. According to the defence, this would invalidate the basis for his conviction, based on negligence 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.
Further, the defense claimed 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.
The motion to acquittal They asked the judge for a dismissal of charges as well as the judgment because, even when taken at face value, the prosecutor’s proof is not enough.
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-2049 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 reportedly developing A plan has been developed that will allow stocks with blockchain technology to be traded on crypto exchanges, after financial institutions pressured the regulator to permit always-open markets.
Hadick claimed that institutions are a threat to democracy “don’t want to be directly on these general-purpose chains,” Giving 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 told Cointelegraph in an exclusive interview at Token2049, Singapore that the exchanges are slowly transitioning into frontends. decentralized exchanges (DEXs). “I think it will take like five to 10 years,” He said.
Kunz said that centralized exchanges were isolated markets while 1inch’s aggregator acted as a global hub of 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 central exchanges investing in Onchain Systems 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.
Market overview of DeFi
The data collected from Cointelegraph Markets Pro TradingView reports that the majority of top 100 cryptos by market cap ended up in green.
Privacy-protecting ZcashZECThe DeXe token (DEXEOn the chart, ) tokens accounted for over 34% of all charts.
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
