Author: Benjamin Lee
Union Bank of Switzerland (UBS), the largest bank in Switzerland, is testing a tokenized gold product on Ethereum (ETH) layer-2 scaling solution ZKsync (ZK). In a new thread on the social media platform X, the developers behind ZKsync say that UBS is testing out its tokenized gold investment products on the blockchain as a means of improving functionality for global use. The product – UBS Key4 Gold, which allows users to buy and sell units of gold on-chain – is now being tested on the layer-2 network, according to its developers. “UBS, Switzerland’s largest bank, is modernizing digital gold investments…
A widely followed crypto analyst says the odds are in favor of one more major move to the upside for digital assets before the market cycle concludes. The pseudonymous trader known as Pentoshi tells his 850,000 followers on the social media platform X that there’s a one in four chance that the crypto market cycle is over. The trader notes that he’s leaning towards the total market cap of all digital assets to reach the $4.2 trillion mark, about 26% higher than current levels. “I think maybe 25% odds the cycle is over and those calling it are correct. I…
The chief executive of a prominent crypto analytics firm believes that the Bitcoin (BTC) bull market has enough fuel to witness more rallies. CryptoQuant CEO Ki Young Ju tells his 401,300 followers on the social media platform X that demand for Bitcoin spot market exchange-traded funds (ETFs) is still going strong, indicating that deep-pocketed investors are positioning for more BTC rallies. Ki notes that he thinks BTC will print a market cycle top once demand for Bitcoin ETFs tapers off. “The Bitcoin bull cycle isn’t over. The buying engine for paper Bitcoins is still running. In 2021, the downturn came…
Uniswap (UNI), the top decentralized exchange (DEX) by trading volume, has rolled out a new protocol upgrade across multiple chains. The DEX says its new “v4” transforms the protocol into a “developer platform.” “Made possible with the introduction of hooks – contracts that allow anyone to customize how pools, swaps, fees, and LP (liquidity provider) positions interact. Hooks mean unlimited new features that drive deeper liquidity and more swaps. The lowest cost version of the protocol yet. Pools on v4 are expected to be 99.99% cheaper to create, and swappers can expect significant savings on multi-hop swaps. Plus, native ETH…
A widely followed cryptocurrency trader is turning bullish on Solana (SOL) while expressing his reservations about the Ethereum (ETH) competitor. The trader pseudonymously known as Credible Crypto tells his 460,500 followers on the social media platform X that Solana passed the “first test” by bouncing off the “must-hold” level of roughly between $165 and $190 and subsequently reaching a new all-time high of approximately $293. The widely followed analyst says that even though Solana is likely to climb higher, there’s one reason holding him back from going long on the fifth-largest crypto asset by market cap. “For what it’s worth,…
A widely followed crypto analyst says that one rival of dog-themed meme assets Dogecoin (DOGE) and Shiba Inu (SHIB) is repeating a move it did previously that caused it to spark a 200% rally. In a new strategy session, pseudonymous crypto trader Inmortal tells his 227,000 followers on the social media platform X that the last like memecoin Floki’s (FLOKI) Relative Strength Index (RSI) reached the level it did, the crypto asset saw a 4x price increase. “Last time we reached this RSI level we bottomed and pumped 200% One of my fav charts right now.” Source: Inmortal/X An asset’s…
Crypto asset management firm Grayscale is announcing the launch of a new trust that would give investors access to the popular meme asset Dogecoin (DOGE). In a new press release, the investment giant says it is creating the Grayscale Dogecoin Trust as it believes DOGE has matured from a simple memecoin into a legitimate global financial tool. As stated by Grayscale’s head of products and research, Rayhaneh Sharif-Askary, “Dogecoin has matured into a potentially powerful tool for promoting financial accessibility. We believe, as a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial…
Circle’s dollar-pegged stablecoin USDC has officially gone live on the layer-1 chain Aptos (APT). Aptos’ native token, APT, is up on the news, surging by 5.5% in the past 24 hours. The 38th-ranked crypto asset by market cap is trading at $7.91 at time of writing. Coinbase, the top US crypto exchange, has already added Aptos-native USDC to its listing roadmap. In November, Aptos first announced that it planned to integrate USDC, as well as the fintech giant Stripe’s payment services. Stripe will provide a fiat on-ramp for the Aptos network. The payments firm reemerged in the crypto sector in October…
A widely followed analyst is leaning bullish on a memecoin in the Solana (SOL) ecosystem amid a rout that has seen the crypto asset lose 72% of its value from the all-time high. The analyst pseudonymously known as Bluntz tells his 314,000 followers on the social media platform X that dogwifhat (WIF) might have bottomed out after completing a correction in a three-wave pattern on the weekly time frame. The analyst who regularly applies the Elliott Wave theory in his technical analysis says that while WIF’s bearish trend lasted longer than he had originally anticipated, there are “some nice signs…
A widely followed crypto analyst says that one rival of smart contract platform Solana (SOL) is waiting in the wings before making its next move to the upside while updating his outlook on Bitcoin (BTC). In a new strategy session, crypto trader Rekt Capital tells his 533,400 followers on the social media platform X that layer-1 blockchain Sui Network (SUI) is consolidating below its all-time high as it gains support from prominent crypto wallet Phantom. “SUI. Still consolidating below all-time highs, biding its time before its next move. As for fundamentals, Phantom is live with SUI to over 15 million…