Check out U.Today’s top three news stories over the past day.
JPMorgan: XRP ETF might attract $8 billion
Based on predictions by experts like JPMorgan and Nate Geraci, a potential XRP exchange-traded fund (ETF) could draw investments ranging from $3 billion to $8 billion if it follows the trend set by Bitcoin and Ethereum ETFs launched last year. At present, ETF assets account for about 8% of Bitcoin’s total market value, while Ethereum ETFs have a lower presence of around 3%. As reported by U.Today, Ripple‘s Monica Long is optimistic that XRP could be the next cryptocurrency to receive ETF approval, following in the footsteps of Bitcoin and Ethereum. Several companies, including Bitwise and WisdomTree, are vying to launch an XRP ETF in the U.S., with some analysts predicting that approval might happen this year.
Three Bitcoin price scenarios that could shape 2025 unveiled by Peter Brandt
2025’s beginning hasn’t been kind to the crypto market, especially for Bitcoin, which has yet to surpass its record high. Instead, it’s created a concerning ‘head and shoulders’ pattern. This pattern suggests that after the second ‘shoulder’ is formed, the price could fall below the ‘neckline’, potentially dropping by the same amount as the ‘head’. Renowned trader Peter Brandt recently shared three potential scenarios for Bitcoin’s value: a decline to about $76,000, the formation of a ‘bear trap’ causing a sudden rise, or the development of a more intricate pattern. Brandt highlights that while patterns offer insights, they aren’t absolute and the current market instability underscores the difficulties even experienced traders face in forecasting Bitcoin’s direction.
480 billion PEPE transferred in hours; What’s happening?
As a crypto investor, I recently noticed some intriguing movements in the Pepe (PEPE) market. Data from Spot On Chain X account reveals that PEPE garnered considerable interest from prominent crypto whales yesterday. In a brief span, these whales collectively purchased an impressive 480 billion tokens, worth around $5 million, according to the X post.
Two of these whales made substantial investments in PEPE. One whale, who initially incurred a loss of $1.45 million on PEPE, has surprisingly decided to invest 3.72 million USDC to acquire 200.4 billion frog-themed tokens, betting on a potential price rebound. The other whale, after withdrawing approximately 280 billion tokens valued at around $5 million from Binance, also increased their PEPE holdings.
In exciting news for the PEPE community, the token is set to boost its presence on the Japanese market. Binance Japan announced the PEPE listing on Jan. 9, now offering Pepe (PEPE) in spot trading. At the moment of writing, PEPE trades at $0.00001736, marking a 4.48% increase over the past 24 hours, as per CoinMarketCap.
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2025-01-14 19:11