Crypto News
Bitcoin’s Medium of Exchange Thesis in Perspective: Is It Still Relevant?
The idea of bitcoin as a medium of exchange was at the center of its creation, eliminating the need for third parties for transacting. Discussions on social media now recall how Andreas Antonopoulos, a big bitcoin proponent, used it to promote bitcoin back in the day. But is it still relevant today? Bitcoin as aSource link
XRP Holds Strong as Archax Unveils Tokenized Money Market Fund on XRP Ledger
XRP outperformed bitcoin (BTC) and other major tokens in the past 24 hours as regulated crypto broker and custodian Archax unveiled a money market fund on the XRP Ledger, a first for the network, in collaboration with closely related Ripple Labs and Abrdn.Archax has provided access to Abrdn’s U.S. dollar Liquidity Fund (Lux) in tokenized form on XRPL. Ripple will allocate $5 million worth of tokens into Abrdn’s Lux fund, part of a larger allocation to real-world assets (RWAs) on the XRPL.XRP price jumped 6%, touching a high of $1.49 in the hours following the release, before paring gains in a market-wide drop. The token is up 27% over the past week and more than has more than doubled in...
How NFTs are Evolving to Add ‘Meaning and Story’: RARI Chain
Leading lights in the NFT space gathered in Bangkok to discuss the future of the technology and how creators are using it.Source link
Iran’s Digital Rial Near Launch, Central Bank Signals Progress
Iran’s central bank signals the imminent launch of the digital rial, a central bank digital currency (CBDC), to streamline payments and bolster international financial integration despite sanctions. Iran’s Central Bank Sends Clear Signals on the Digital Rial Breakthrough Central Bank of Iran (CBI) Governor Mohammad Reza Farzin discussed the digital rial, Iran’s central bank digitalSource link
Three Reasons Why Bitcoin Risks Falling Below $90K: Godbole
Bitcoin's (BTC) much-anticipated breakout above $100,000 remains out of reach, with prices retreating to $94,500 overnight. Key indicators point to further declines, potentially to levels below $90,000.The first indicator is the 25-delta risk reversal, which measures the volatility premium of out-of-the-money calls used to bet on price rallies relative to OTM put options offering downside protection.On Deribit, calls expiring this Friday now trade at a cheaper valuation to puts, resulting in a negative risk reversal, according to data source Amberdata. The first negative reading in at least a month indicates a bias for protective puts.Perhaps sophisticated traders are prepping for an extension of Monday's price slide. On Monday, traders sold call spreads and bought put options tied to BTC on...