Kategorie: Crypto Markets

• Zodia Custody (HK) has received the Trust or Company Service Provider (TCSP) license.
• The Standard Chartered-backed digital assets custody platform will offer regulated services to institutional clients.

Zodia Custody (HK), a crypto custody solutions provider, has received the Trust or Company Service Provider (TCSP) license.

The license allows the Standard Chartered-backed digital assets custody provider to bring its services to the Hong Kong market, according to details in a company news report.

This pivotal milestone allows Zodia Custody (HK) to solidify its position within the crypto space, it added.

Zodia Custody targets Hong Kong market

Zodia Custody’s targeting of the Hong Kong market comes as the region looks to enhance their global standing as a digital assets hub. The various initiatives include the push for proper licensing of crypto firms and the reported pursuit of spot Ethereum c exchange-traded funds (ETFs).

The company recently appointed Kal Chan as CEO, with one of his goals being to spearhead the adoption of digitals assets in the region.

“Hong Kong isn’t just a major hub for digital assets in Asia, it is leading the world in showing the pathway to mainstream adoption,” Chan said at the time. The crypto platform will leverage its bank-backed heritage in its regulatory and institutional goals, Chan added.

With the Hong Kong license, Zodia Custody will offer its services to institutional clients, both local and international. The objective is to provide a regulated platform whose infrastructure and products comply with TCSP requirements.

In December last year, Zodia Custody integrated with Metaco, a crypto storage provider owned by Ripple. The integration allowed for global sub-custody, with this akin to the use of custody providers in the traditional banking ecosystem.

The post Zodia Custody secures TCSP license in Hong Kong appeared first on CoinJournal.

• Digital assets saw a new weekly record as inflows hit $2.9 billion last week.
• Bitcoin recorded inflows of $2.86 billion, while Ethereum, Solana and Polygong saw minor outflows.
• CoinShares shared the details in its Digital Asset Fund Flows report published on Monday, March 18.

The crypto investment space saw a record $2.9 billion in inflows last week, digital assets manager CoinShares says.

Per the report, the figure beat the previous week’s $2.7 billion, with this a seventh consecutive week that crypto investment products are seeing inflows.

“This week’s inflows have pushed year-to-date inflows to US$13.2bn, smashing the full 2021 inflows of US$10.6bn,” CoinShare’s global head of research James Butterfill noted in the Digital Asset Fund Flows report published on Monday, March 18.

Bitcoin saw inflows of $2.86 billion

In a week where Bitcoin price shot to a new all-time high above $73k before flipping negative to test lows of $65k, crypto ETPs shone.

Bitcoin saw inflows of $2.86 billion during the week to push its market share to 97% year-to-date.

Meanwhile, smart contracts platforms Ethereum, Solana and Polygon recorded outflows of $14 million, $2.7 million and $6.8 million respectively.

According to CoinShares, an aggregate of all crypto investment products, the global trading volume for digital assets reached $43 billion last week. This was also the volume for the previous week, and was 47% more than the global trading volume for Bitcoin (BTC).

Notably, global ETPs surpassed $100 billion for the first time last week. However, the dip witnessed as Bitcoin led the price correction saw the market close at $97 billion.

BTC price has traded back to $68k and sentiment remains bullish going into the Bitcoin halving. Altcoins are also expected to explore new highs in coming months and this could play into further inflows.

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• Standard Chartered upgrades BTC forecast to $150K year-end.
• The bank’s analysis is based on ETF inflows, historical gold performance, and institutional interest.
• The bank believes the potential ETH ETF approval could drive ETH to $8K by 2024.

Standard Chartered Bank has upgraded its year-end forecast for Bitcoin’s price to $150,000, representing a 50% increase from its previous estimate of $100,000.

The bank anticipates significant bullish momentum for BTC, attributing the revision to strong inflows into spot bitcoin exchange-traded funds (ETFs) in the United States. These inflows are outpacing the growth of bitcoin derivatives’ open interest, suggesting sustainable positioning and long-term investment interest, particularly from pension-type funds.

The revised forecast also includes a projection for Bitcoin to reach a high of $250,000 during the 2025 cycle before stabilizing around $200,000.

Standard Chartered bases its analysis on the historical performance of gold after the introduction of gold ETFs in the U.S., drawing parallels between ETF inflows and BTC price movements.

Additionally, the bank highlights the potential for an overshoot in BTC’s price if ETF inflows reach an estimated $75 billion or if reserve managers begin acquiring BTC.

Ethereum ETF approval prospects

In addition to Bitcoin, Standard Chartered Bank also speculates on the impact of a potential Ethereum (ETH) exchange-traded fund (ETF) approval by the Securities and Exchange Commission (SEC) on May 23.

The bank suggests that such approval could lead to substantial inflows, potentially up to $45 billion within the first 12 months. This influx of capital could drive ETH’s price to approximately $8,000 by the end of 2024, assuming approval of a spot ETF.

Looking ahead to 2025, Standard Chartered envisions a scenario where the ETH-to-BTC price ratio returns to around 7%, indicating a potential ETH price of $14,000 given the bank’s estimated BTC price of $200,000 by the end of that year.

The bank’s analysis underscores the significance of regulatory developments, ETF approvals, and institutional investment trends in shaping the future trajectory of both Bitcoin and Ethereum.

The post Standard Chartered raises 2024’s BTC forecast to $150K, projects $250K in 2025 appeared first on CoinJournal.

• BTC price dropped sharply after reaching new ATH above $73k
• Analysts say Bitcoin remains bullish; a bounce could help Bitbot price.
• Bitbot is currently in presale but is creating waves as the world’s first non-custodial Telegram trading bot.

Bitcoin (BTC) price saw a significant decline this week, with the value of the flagship cryptocurrency dropping below $67,000. 

Despite this, bullish sentiment around the BTC price remains. Could the potential rebound help Bitbot (BITBOT), a new project that has the trading space highly anticipating its launch? 

Bitbot: Telegram bot pioneering non-custodial crypto trading

The crypto trading bot market on Telegram is getting bigger as the trading community looks to tap into the most advanced, AI enabled features and tools.

While it’s down to about $1.3 billion by market cap following recent declines, analysts have pointed to potential breakout growth for Telegram bots as crypto’s bull cycle strengthens. PAAL AI, Unibot and Banana Gun are currently some of the most popular trading bots in the market.

But Bitbot, the world’s first non-custodial Telegram trading bot, is gunning for dominance. Not only does it pack all the institutional-grade trading tools, it brings these to retail traders via a platform that puts the security of users’ assets first.

The incidents that had Unibot and Banana Gun users impacted in 2023 have helped spotlight Bitbot’s non-custodial security solution.

The project has teamed up with top digital assets self-custody provider KnightSafe to pioneer MPC custody for Telegram bot users. This capability to trade with the top tools while retaining full control of your assets’ private keys is coming to the space via Bitbot.

BTC price dropped sharply, but are bulls poised to retest $70k?

Bitcoin outpaced global assets in the recent months as it skyrocketed to a new all-time high near $74k earlier this week. According to CoinGecko data, Bitcoin notched its peak of $73,737.94 on March 14, 2024.

However, the cryptocurrency’s price declined 10% from the new ATH as BTC price dropped to lows of $64,866 on March 17. 

Bulls are now eyeing a rebound to the pyschological $70k area. But as bears continue to threaten, buyers may need to turn the $66k-$65k zone into a key support area to prevent a bearish flip to the $60k level.

If prices bounce higher from current levels though, a retest of the $70k mark could hint at a new leg up. This outlook is currently helped by the Fear & Greed Index, which remains elevated at 79.

Aggressive accumulation in the BTC market may intensify in coming weeks as the Bitcoin halving approaches. The spot BTC ETFs market in the US is also likely to continue heating up, particularly as more asset investment providers and advisors add Bitcoin ETFs to products offered to clients.

Current market conditions could thus be an opportunity to position. Many investors are aware of this dynamic and are eyeing top gems likely to outpace peers in 2024 and beyond.

Bitbot price prediction

As Bitbot looks to launch its ground-breaking bot to the public, crypto traders keen to ride the underlying strength of the BITBOT token have aggressively allocated to its presale. Access to all bot features as well as the unique revenue-sharing mechanism stands out for users.

Given its top security focus and the projections for the crypto trading market, analysts have pointed to Bitbot as a potential 100x token in 2024.

Bitcoin’s likely bull market flip to new highs in the year also adds to the positive outlook for BITBOT. The token’s upcoming launch on trading exchanges is also a key factor. This latter aspect will follow BITBOT’s presale conclusion.

Currently, Bitbot has raised over $1 million in stage 5 of the presale, with BITBOT tokens priced at $0.0122. 

By the end of stage 15, the final ICO round, the token’s price will have risen to $0.02. Post-presale demand could easily push prices higher.

To learn more about Bitbot, visit the official website.

The post BTC eyes bounce to $70k after declines: What’s the outlook for Bitbot? appeared first on CoinJournal.

• PEPE and dogwifhat surge, then retract, amidst crypto market volatility.
• Bitbot’s $BITBOT presale attracts attention with $1,023,778 raised.
• Investors can buy $BITBOT at $0.0122 per token.

In the volatile world of cryptocurrency, recent movements in the prices of PEPE and dogwifhat (WIF) have sparked investor interest and concern. Both tokens experienced substantial gains followed by retracements, leaving investors wondering about their next moves.

Meanwhile, another cryptocurrency project by the name of Bitbot has caught the attention of those seeking potential opportunities in the market with its ongoing presale.

PEPE price rollercoaster ride

PEPE, a cryptocurrency known for its sudden price movements, recently surged, only to retrace significantly afterwards.

The token saw a remarkable increase of 603.36% in the past month, causing excitement among investors.

However, this surge was short-lived, as PEPE has since retraced, leading to uncertainty among holders. At press time, the token had seen a 7.65% decrease and a 10.40% drop over the past 24 hours.

dogwifhat (WIF) price volatility

Similar to PEPE, dogwifhat (WIF) experienced a rollercoaster ride in its price movements.

With a 511.59% increase in the past month, WIF attracted considerable attention from traders looking to capitalize on its momentum.

However, the token has also retraced by 19.23% over the past 24 hours, highlighting the inherent volatility of the cryptocurrency market.

Bitbot presale success amidst market turbulence

Amidst the market turbulence, Bitbot, a Telegram trading bot, has emerged as an intriguing option for investors seeking stability and potential returns.

The ongoing $BITBOT presale has raised significant funds, with $1,023,778 out of $1,106,000 already secured.

The current $BITBOT presale price stands at $0.0122, offering early investors an attractive entry point.

Additionally, participants can anticipate the next presale stage, where the $BITBOT price is set to increase to $0.0128.

Should you invest in PEPE, dogwifhat, or Bitbot?

As investors weigh their options in the crypto market, the decision between PEPE, dogwifhat, and Bitbot requires careful consideration.

While PEPE and WIF have shown impressive price movements, their volatility poses risks for investors.

On the other hand, Bitbot presents itself as a project with promising potential, backed by a robust presale and innovative technology.

With its focus on AI-powered trading and community engagement, Bitbot offers a unique opportunity for those seeking stability and growth in the crypto space.

However, investors must conduct thorough research and assess their risk tolerance before making investment decisions.

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