Here is what happened yesterday in the crypto market:
ETH Poised for Significant Price Surge
EMJ Capital’s founder, Eric Jackson, details his firm’s strong bullish stance on Ether, anticipating a climb to $10,000. This optimistic outlook is buoyed by growing institutional adoption and improved market conditions for cryptocurrencies overall. Read more
MiCA Regulation Benefits EU Crypto Investors
Despite prior concerns, the Markets in Crypto-Assets (MiCA) regulation in the EU is proving advantageous for both crypto investors and exchanges, fostering a more secure and regulated environment. Ripple also confirmed its intention to pursue a MiCA license for EU expansion, highlighting the growing acceptance and integration of regulatory frameworks in the crypto space. Read more
Standard Chartered and Kraken Expand Institutional Crypto Offerings
Standard Chartered has launched a new service enabling institutions to trade major cryptocurrencies, including Bitcoin and Ether. Concurrently, crypto exchange Kraken introduced a derivatives platform for US traders, providing access to CME-listed crypto futures. These developments signify a major step towards mainstream institutional acceptance and accessibility of digital assets. Read more
Bitcoin Retail Demand Surpasses Supply
Analysts at Bitfinex indicate that new retail buyers are acquiring Bitcoin faster than miners can produce it. This significant increase in demand, coupled with limited supply, could drive Bitcoin’s price higher, potentially leading to a rally towards $135,000 before a market correction. Read more
Hungary Imposes Strict Penalties for Unauthorized Crypto Trading
Hungary has enacted laws that could result in prison sentences of up to two years for individuals using unauthorized crypto exchanges. This move highlights a global trend of increasing regulatory scrutiny and varied approaches to cryptocurrency regulation by different governments. Read more