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The bank said it sees few positive drivers for the crypto exchange’s share price in the near term.
Data shows most SHIB market depth is under $1 million on various crypto exchanges, and a sell order of that value could move token prices by 2% immediately.
Crypto data firm CCData released the first institutional-grade scoring system that evaluates digital assets focusing on environmental, social and governance aspects.
Bitcoin has failed twice this week to scale the $31,000 mark, with open interest in stablecoin-margined futures rising on both occasions.
ALSO: Former CFTC Chair Timothy Massad told CoinDesk TV that regulatory agencies “don’t have to resolve” the stubbornly troublesome issue whether cryptos are commodities or securities.
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
The latest price moves in crypto markets in context for July 12, 2023.
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said.
The dollar value of the unlock amounted to 38% of the cryptocurrency's average 30-day trading volume and had potential to push prices lower, per one analyst.
- 11:28Analyst: It is expected that Trump will issue at least 25 executive orders covering cryptocurrency policy and more on his first day in officeAccording to Reuters, the excited anticipation of President-elect Trump's policies will boost the outlook for industries such as banking, energy and cryptocurrency. Michael Rosen, Chief Investment Officer at Angeles Investments said: "People are hoping that taxes and regulations can be reduced or diminished next year, which will help support corporate profits - a major driver of markets." In addition, Trump's inauguration on January 20th next year may also bring some surprises to the market. It is expected that he will issue at least 25 executive orders on his first day in office, covering a range of issues from immigration to energy and cryptocurrency policy.
- 10:47Analysis: U.S. election leads to a significant increase in the net worth of Ripple CEO and a16z co-founderAccording to CoinDesk, analysis indicates that XRP rose from $0.5 to $2.32 after the U.S. election, potentially yielding significant gains for Ripple CEO Brad Garlinghouse. According to CoinMarketCap data, XRP has risen 54.7% in the past 30 days and ranks third by market capitalization. Garlinghouse noted: "Since Trump's victory, the cryptocurrency market cap has grown by over $1 trillion." During the election, Ripple donated $73 million while a16z invested $70 million, including amounts reserved for the next round of elections in 2026. It is reported that Garlinghouse owns more than 6% of Ripple's shares and a large undisclosed amount of XRP tokens. He is also one of America's top billionaires. This election tripled the value of Garlinghouse's XRP holdings, so his personal wealth is expected to increase significantly as well. On the other hand, a16z co-founders Mark Andreessen and Ben Horowitz hold substantial stakes in cryptocurrency companies; their holdings are expected to exceed funds invested into U.S politics post-election day. However, financial data on a16z’s private company investments are unavailable; thus detailed figures remain unknown. Previously reported news indicated Coinbase CEO Brian Armstrong sold company stock continuously for several weeks following Trump’s presidential win and pro-cryptocurrency lawmakers' victories—cashing out approximately $437 million total due to optimistic sentiment emerging post-election results—his sold stocks appreciated by about $129 million compared pre-election valuation according latest SEC filings Brian Armstrong still holds over 10% stake within Coinbase with trust fund containing around 24 million shares valued roughly at $6.4 billion—a nearly two-billion-dollar increase since November fifth
- 10:41Today, the Fear and Greed Index dropped to 72, still at the level of greedAccording to Alternative data, today's Fear and Greed Index has dropped to 72 (from 74 yesterday), still indicating greed. Note: The Fear Index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market surveys (15%) + Bitcoin's proportion in the entire market (10%) + Google keyword analysis (10%).
