![]() We'll charge a fee based on our estimate of the prevailing network fees for a standalone wallet-to-wallet send. We don't charge for transferring crypto from one Coinbase user’s primary balance to another user’s primary balance.įor transactions on cryptocurrency networks (i.e., transfers of cryptocurrency off the Coinbase platform), Coinbase incurs and pays network transaction fees (e.g., miner’s fees). ![]() This has caused some to believe that the bear market could be over and that BTC has entered into a new bull run.Coinbase offers our cash and Hosted Cryptocurrency balance service free of charge, allowing you to store your cash and supported cryptocurrency at no cost. Its price has skyrocketed from $16,500 on January 1 to approximately $28,400. Investors King understands that the flagship cryptocurrency has increased in price by 35% since March 10 when regulators shut down Silicon Valley Bank.Ĭontrary to 2022, the primary digital asset started off the new year on the right foot. But actually, the big change will happen when they stop fighting it and we stop fighting them.īitcoin has outperformed traditional investment assets and sectors, such as technology and gold, in year-to-date (YTD) absolute returns, recent data from Goldman Sachs reveals.Īccording to the data, the leading cryptocurrency has gained 51% in YTD absolute returns, surpassing information technology (+16%), communication services (+15%), consumer discretionary (+11%), Russell 1000 Growth (+10%), gold (+4%), and the S&P 500 (+4%).īitcoin’s recent surge in price has been attributed to the crises that befell the US banking industry, leading to issues of confidence in the sector. Are they a bit slow to adopt at the moment? Yeah, sure. “Historically, those big players have been the biggest drivers of innovation. Speaking further, Linch also disclosed that during the bear market, many of the financial giants moved to establish crypto divisions within their companies, positioning themselves for the growth of the industry. While acknowledging that there may be some painful moments along the way especially as it relates to regulation, Linch however anticipates that many partnerships will be formed between traditional financial institutions and those in the crypto sector which will be good for the crypto industry. In an interview with Scott Melker, the head of the crypto exchange clarified that institutional adoption will not hurt cryptocurrency but rather aid the pace of innovation within the industry. Linch added that he is anticipating more adoption, stating that leading financial institutions like Goldman Sachs will soon take on a larger role in crypto. The CEO of Bittrex Global, Oliver Linch recently disclosed that institutional interest in Bitcoin has arrived. ![]() However, some crypto investors believe an outcome will arrive in the coming days. It is not clear when she will make her decision. The case now rests with Judge Analisa Torres of the Southern District of New York, who is expected to issue a verdict soon. Ripple and the SEC have now both submitted their final round of briefs seeking a summary judgement to the case. The SEC must prove the two executives had actual knowledge #XRP was a security or was reckless in not knowing,” John Daeaton posted on his Twitter page. There’s NO WAY the SEC can meet its burden. According to the Vice President of Luno, Vijay Ayyar, XRP price rally “is being bolstered by a potential positive outcome in the SEC case.” Similarly, CryptoLaw founder John Deaton predicts that Judge Torres will rule in favour of Ripple executives Brad Garlinghouse and Chris Larsen. The hope to win against the SEC was shared by many big players in the industry. Meanwhile, on the heels of the announcement of the recovery fund, the cryptocurrency market took to the sky, adding to the gains it had already charted hours before the announcement.Ī check on the Binance platform shows that Bitcoin, the flagship cryptocurrency has regained the $22,000 support level and is trading comfortably above it.Īs of the time of writing this report, Bitcoin is up by 10.04%, Ethereum by 9.50% and BNB is up 10.41% in the past 24 hours. Both banks have significant ties to cryptocurrency firms. ![]() In November 2022, Binance announced a $2 billion industry recovery fund that will be used to buy distressed crypto assets and support crypto projects in crisis.īinance CEO, Changpeng Zhao (CZ), noted that the idea of creating such a fund comes in the wake of the disastrous collapse of the FTX crypto exchange, which has left several crypto firms reeling.įollowing the collapse of FTX, the cryptocurrency industry has been enmeshed in a series of troubles including the collapse of Silvergate Bank and the fallout of Silicon Valley Bank.
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