Earlier this month, Livio Weng, chief operating officer of Hong Kong crypto exchange HashKey, told The Block that around 10 fund companies have started looking into launching potential spot crypto ETFs in Hong Kong. “Grayscale ETH Trust’s current market cap of USD 6bn is 2.2% of total ETH market cap, whereas the comparable share for BTC was 3.1% at the time of the ETF approval,” Kendrick wrote. But the Grayscale Ethereum Trust accounts for a much smaller market cap of the crypto than the bitcoin fund did. Kendrick forecasts that the process will look similar to how the Securities and Exchange Commission handled the recent bitcoin spot ETF applications, which eventually led to the launch of 11 funds after months of regulatory pushback.
- “Bitcoin’s price is testing the $40,000 level,” Alex Kuptsikevich, a senior market analyst with FxPro said in emailed comments.
- The bitcoin price, after rocketing to almost $50,000 per bitcoin on the back of spot bitcoin ETF hype earlier this month has crashed back, alongside a wild prediction that bitcoin’s mysterious creator Satoshi Nakamoto could “erase” bitcoin.
- The city of Hong Kong, a special administrative region of China that’s slowly being absorbed into the country, has adopted a crypto-friendly approach to crypto over the last year, with the SFC creating crypto-focused regulations in 2023 that allowed institutional and retail investors to participate in crypto trading.
- The Sportemon Go price prediction sentiment is currently bearish, while Fear & Greed Index is showing 60 (Greed).
- The bitcoin price has swung wildly in recent months as spot bitcoin ETF hype pushes up bitcoin, …
The estimated inflows as a result of these new institutional buyers and traders, the potential for long-dormant accounts to become active again, and the legitimacy that such products would offer the sector all boosted market confidence and price predictions. Securities and Exchange Commission (SEC) path to spot bitcoin ETF approval, it was reported, allowing several funds to begin trading at the same time. The bitcoin price has topped $43,000 per bitcoin, adding billions to the combined ethereum, XRP, solana and crypto market, and could have now turned a corner, according to a surprise JPMorgan bitcoin price prediction.
Ethereum could surge 70% if its own ETF gets approved in May, Standard Chartered says
Expectations for the approval will have to be low, as happened ahead of the bitcoin ETF launch, Kendrick said. Market-side implications for an approval will also have to miss the mark — though some may worry that the SEC’s stance that ethereum should be treated as a security could get in the way, the commission has already lost that argument in court, Kendrick outlined. In theory, ethereum should follow bitcoin’s performance in the run-up to the ETFs’ approval. Originally, SEC delays first caused bitcoin to flatline, before Grayscale’s court victory against the regulator sent the apex token rallying at the end of 2023. The top-performing year for Sportemon Go was 2023 when the price of SGO increased by 0.00% from $ 0.0₉2997 to $ 0.0₉2997.
During the first week of trading the volume for these products totaled over $14 billion; ranking these ETFs the largest (by far) new launches of all-time. In addition, the bitcoin ETFs rapidly made bitcoin the second largest underlying asset for ETF products behind silver. With institutional buyers quickly purchasing bitcoin worth billions of dollars, the SEC approving these instruments, and generally bullish sentiment, it would stand to reason that the price of bitcoin would have seem a similarly strong upward movement.
The Bitcoin Spot ETF: A Catalyst For Change In Bitcoin-First Companies
At the same time, however, the stablecoin market has continued to grow both in market capitalization as well as acceptance by TradFi institutions. Specifically, the fact that PayPal – a household name with over 400 million users – has developed and issued a native stablecoin should be indicative of the pace of mainstream adoption that has occurred around stablecoins. The bitcoin price has surged over the last year, boosting the price of ethereum, XRP, solana and the … China president Xi Jinping has overseen a bitcoin and crypto crackdown in China that has weighed on …
Sportemon Go Price Closing History by Level
Bitcoin and cryptocurrency prices—including ethereum, solana and XRP—have rocketed higher over the … SafuuGO is an ultra advanced AI driven BEP20 token platform with integrated, upgradable, interoperable, multi-liquidity pool management and buyback & burn systems operating through integration of our own proprietary Navigational Artificial Intelligence Layer (NAIL). China’s economic downturn “has made investment on the mainland risky, uncertain and disappointing, so people are looking to allocate assets offshore,” a Hong Kong-based crypto exchange executive who declined to be identified told Reuters. Bitcoin
BTC
and cryptocurrencies—including major coins ethereum, XRP
XRP
and solana—have rocketed higher in recent months (with one Wall Street legend warning the U.S. dollar is “finished”). While the crypto’s pre-ETF price action should resemble that of bitcoin, it’s a different story once the funds are active.
SGO Global Team Led By
SafuuGO utilizes its native token (SGO) which tips the LP balance in your favor with “DRIVE”… The next generation Multi-LP Direct Reactive Integrated Vaporization Engine utilizing vaporization for core stability and inbuilt AI Safety Systems targeting sustainability, price appreciation and ecosystem expansion as the primary core objectives. It remains to be seen where the price trajectory goes for the rest of 2024, but even though prices have dropped investors should be aware that significant buying is also occurring. The local media report, translated with Google, said the regulator is looking to approve a spot bitcoin ETF as soon “after the Spring Festival,” referring to the Lunar New Year holiday that falls on February 10 this year.
Bitcoin
BTC
and cryptocurrencies have swung wildly this week as traders panic over huge outflows from Grayscale’s spot bitcoin exchange-traded fund (ETF)—with some predicting this could be just the beginning. Bitcoin volatility, although not as dramatic as some market commentators, could have very well driven some investors to take advantage of the late 2023 run-up in price to lock in profits. Given the price declines that followed previous bull markets in 2017 and 2021 this is not an unreasonable position.
Sportemon Go is funded solely through its own cryptocurrency, a BEP20 token leveraging a smart contract on the Binance Block Chain network. This native cryptocurrency will power the entire economy within the platform allowing users to purchase NFT collectibles, form their ultimate team, participate in mini games, earn rewards and much more. Optimistic as these predictions and sentiment might have seemed, the reality of the spot ETF approval has exceeded many predictions.
Although billions have flowed into some of the other recently approved products, this large-scale selling has been cited by some as a significant reason why the price of bitcoin has dropped. On the positive side, a bankruptcy liquidation is an uncommon event, so this selling will not be a recurring theme. After https://cryptolisting.org/ the long-awaited spot ETFs were approved, and 11 of them to boot, bitcoin maximalists and crypto investors generally were understandably optimistic. In the run-up to the long awaited approval, supporters and advocates pointed to the bevy of reasons why this would be bullish for bitcoin and other cryptoassets.
Now, as the Federal Reserve could be about to trigger an accidental bitcoin price boom, excitement around U.S. spot bitcoin exchange-traded funds (ETFs) is turning toward Hong Kong, where the securities regulator has received its first spot bitcoin ETF application from one of China’s largest fund managers. However, the bitcoin price has dropped back following the debut of a fleet of spot bitcoin ETFs, falling 20% and dashing the hopes of bitcoin bulls who had predicted it would surge following the funds’ long-awaited approval. The shadow of FTX and the collapse of the exchange continues to cast a pall over the entire crypto sector. It was recently revealed that over $1 billion of the Grayscale bitcoin ETF has been sold by the FTX estate since trading of these products has started, approximately 50% of the total $2 billion that Grayscale investors have sold since the ETFs started trading.
Sportemon Go price today is $ 0.0₉2997 with a 24-hour trading volume of $ 0.00, market cap of $ 253,886, and market dominance of 0.00%. SafuuGO’s built-in liquidity management platform is enabled by our revolutionary DRIVE (Direct Reactive Integrated Vaporization Engine)
DRIVE can… Automatically vaporize SGO directly from each SGO LP supply to lend a level of price support based on market conditions. DRIVE can manage all SGO LPs and provide independently tuned price support through supply vaporization for each SGO LP.
With illustrious backgrounds in sports marketing and sporting software, the pair envisaged the creation of a platform to stand as a world premier in NFT augmented reality sports trading. With a purpose to revolutionize both the gaming and NFT collectible industries, Sportemon Go will sgo crypto price enable its users to hunt and collect NFTs of their favourite sporting heroes in both the real world and in real time. Creating the perfect synergy between our current world and the metaverse, participants will be able to interact at stadiums and sporting events like never before.
And while the failed crypto exchange FTX led the Grayscale bitcoin selloff, its holdings in the Ethereum Trust amount to just 0.05% of the token’s market cap. The bitcoin price, after rocketing to almost $50,000 per bitcoin on the back of spot bitcoin ETF hype earlier this month has crashed back, alongside a wild prediction that bitcoin’s mysterious creator Satoshi Nakamoto could “erase” bitcoin. Sportemon Go reached its highest price on Jun 15, when it was trading at its all-time high of $ 0.0₆1196, while Sportemon Go’s lowest price was recorded on Sep 23, when it was trading at its all-time low of $ 0.0₉2997. The Sportemon Go price prediction sentiment is currently bearish, while Fear & Greed Index is showing 60 (Greed).