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Bloomberg analysts Eric Balchunas and James Seyffart are expecting a wave of new cryptocurrency-based ETFs next year after leadership takes over at the SEC.Both predict that a host of new ETFs could launch including a bitcoin and ether combo ETF, Litecoin and HBAR funds, and then eventually spot funds for Solana and XRP.
Quick Take Ethereum Name Service will use Linea’s technology to develop its own Layer 2 network called Namechain.
Quick Take Polygon community members rejected a preliminary proposal to deploy over $1 billion in stablecoin from the PoS Chain bridge for yield generation. Following community feedback, Polygon acknowledged these concerns and decided not to advance the proposal but remained open to exploring innovative ideas in the future.
Quick Take Donald Trump-backed DeFi platform World Liberty Financial and Ethena are planning a “long-term collaboration” starting with implementing the yield-bearing token, sUSDe. World Liberty Financial’s governance will be asked to decide on the implementation this week.
Meme coins like Dogecoin, Shiba Inu, and Pepe show mixed performance. Bitcoin reaches a new all-time high, trading at $107,487. The market outlook for meme coins remains uncertain, with the potential for further decline.
Quick Take Exodus Movement’s stock was listed on the New York Stock Exchange sister company, NYSE American, on Wednesday. EXOD stock is up over 37% as the trading day ends.
Quick Take “We’re not allowed to own bitcoin,” Federal Reserve Chair Jerome Powell said during a news conference on Wednesday. In Congress, Sen. Cynthia Lummis, R-Wyo., has a draft bill circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.
- 04:07Fidelity: More countries will include Bitcoin in their reserves by 2025, promoting the growth of the cryptocurrency marketAccording to Cointelegraph, Fidelity Digital Assets predicts in its latest report that by 2025, countries incorporating Bitcoin into their national strategic reserves will drive significant growth in the cryptocurrency market. Research analyst Matt Hogan pointed out that more countries, central banks and sovereign wealth funds may follow Bhutan and El Salvador's example, establishing strategic positions in Bitcoin and reaping substantial returns in the short term. Hogan emphasized that due to challenges such as inflation, currency depreciation and fiscal deficits, not allocating Bitcoin might pose a greater risk to nations than allocating it. He also mentioned that if the US advances its Bitcoin strategic reserve plan, other countries might secretly accumulate Bitcoins to avoid pushing up market prices. In addition, Hogan predicted that by 2025 digital asset structured products and custodial services will "become mainstream", with successful spot trading of Bitcoin and Ethereum ETFs driving further product innovation within traditional financial sectors. He also believes tokenization will become a "killer application" by 2025 with on-chain value expected to double from $14 billion to $30 billion. Fidelity researchers suggest investors should "prepare for acceleration," as adoption of digital assets is rapidly increasing demand. They emphasize it's not too late for investors entering the digital asset space; this could be the beginning of a new era lasting many years or even decades.
- 04:02Multicoin Co-founder: Doesn't believe that public stock offerings will become the first type of tokenized securities adopted by the mass marketAccording to a report by Jinse, Multicoin co-founder Tushar Jain stated in a report released on the 7th that he does not believe that initial public offerings will become the first type of tokenized securities adopted by the mass market. Markets with poor liquidity, high opacity and greater benefits from tokenization are more likely to be adopted first. This could be startup equity - when blockchain can manage capital tables for free, there is no reason to pay Carta or Angelist for management. It could be fixed income instruments that Figure has been researching for years. It could also be LP interests in funds.
- 03:45Galaxy Digital deposited the remaining 4.46 million ENA into CEX 9 hours ago, equivalent to about 4.92 million US dollarsAccording to Spot On Chain monitoring, 9 hours ago, as the price plummeted, Galaxy Digital deposited the remaining 4.46 million ENA (worth $4.92 million) into CEX. This allowed them to sell a total of 10.85 million ENA (worth $12.4 million) in the past 29 hours at an average price of $1.144 per ENA, possibly making a profit of $2.37 million (+23.5%). Overall, including Galaxy Digital, three whale/institutions have deposited a total of 25.81 million ENA (worth $30.43 million) into CEX in the past two days.