Seeds of Wisdom RV and Economics Updates Sunday Afternoon 7-14-24
Good afternoon Dinar Recaps,
ARE THE LARGEST BANKS IN THE WORLD STARTING TO INVEST IN CRYPTO?
"The largest investment banks in the world are rolling out crypto services and investing in crypto companies.
JP Morgan. BNY Mellon. Goldman Sachs. They all foresee global adoption in the IMMEDIATE FUTURE
From consumers to financial institutions the world is getting ready to use crypto as money."
@ Newshounds News™
Source: Twitter
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XRP Climbs 10% In Bullish Trade
XRP was trading at $0.4968 by 00:26 (04:26 GMT) on the Investing.com Index on Saturday, up 10.07% on the day. It was the largest one-day percentage gain since March 11.
The move upwards pushed XRP's market cap up to $27.5901B, or 1.29% of the total cryptocurrency market cap. At its highest, XRP's market cap was $83.4407B.
XRP had traded in a range of $0.4738 to $0.4968 in the previous twenty-four hours.
Over the past seven days, XRP has seen a rise in value, as it gained 15.53%. The volume of XRP traded in the twenty-four hours to time of writing was $1.7086B or 3.08% of the total volume of all cryptocurrencies. It has traded in a range of $0.4036 to $0.4968 in the past 7 days.
At its current price, XRP is still down 84.90% from its all-time high of $3.29 set on January 4, 2018.
@ Newshounds News™
Read more: Investing
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Ripple Finds a Spot in a Very Prestigious List: Details
“The digital asset space was buoyed in 2024 by strong price movements in cryptocurrencies,” CNBC and Statista noted.
Ripple was named one of the top 250 fintech companies for 2024 in the “digital assets” category by CNBC and Statista.
The company has received multiple awards, including the PAY360 Award and recognition as a top workplace by Fortune Magazine.
Ripple’s Latest Recognition
The American business news channel – CNBC – and the global industry statistics database – Statista – conducted a mutual study to find out the top 250 fintech companies for 2024. One of the awarded firms in the “digital assets” section is Ripple. It is one of the three entities placed on that list last year, with Coinbase and OpenSea being the others.
CNBC and Statista explained that the “digital assets” category comprises firms that make it “easier to access and use” cryptocurrencies and blockchain-based applications. They also noted the industry’s success in 2024, reminding that Bitcoin (BTC) hit an all-time high price of over $70,000 in March.
The entities revealed that 116 of the top 250 fintech companies are located in the United States (including Ripple, which is headquartered in San Francisco). The United Kingdom follows next with 30 firms, while India is home to 11 entities on the list.
The Previous Awards
This is not the first time Ripple has found a place in such a category. In October last year, it won the payment prize in the UK – the PAY360 Awards. The company topped the ranking for being the leader in digital currencies/assets in financial services.
One of the people acknowledging the achievement was Sendi Young – Managing Director of Ripple’s European operations. “Such an honour to win in this UK’s most prestigious payments awards,” she said at the time.
Prior to that, Fortune Magazine placed Ripple in the 13th position (out of 50) as “the best workplace in technology” for 2023. According to the business magazine, 94% of the firm’s employees consider it “a great place to work.” 98% of the staff said they were warmly welcomed upon starting their journey at the company, while 96% were supportive of the management team.
Last but not least, People Magazine included Ripple in its list of “top 100 companies who care for employees and society.” Other well-known corporations that were part of that club were American Express, NVIDIA, Deloitte, MasterCard, and more.
@ Newshounds News™
Read more: Crypto Potato
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Five Major Reversal Indicators for Crypto Market in July: Goldman Sachs, ETH ETF S-1 filings and More
U.Today - The crypto market is gearing up for a potential turnaround in July, which will be fueled by several crucial factors. Here are five major indicators to watch:
Federal Reserve's potential rate cuts
The Federal Reserve may cut interest rates as early as September, according to recent rumors, and again in December. The markets will gain liquidity from these cuts, according to analysts, and cryptocurrencies might benefit from another positive CPI print.
Progress on Ethereum ETF S-1 filings
The Ethereum ETF issuers received their S-1 forms back from the SEC recently, with a request for small changes. Before being approved, these issuers must respond to the criticisms and resubmit, passing at least one more review round. It is a result of drawing in more institutional investors.
CFTC chair's stance on crypto regulation
According to recent comments made by the CFTC chair, between 70% and 80% of cryptocurrencies are not securities, underscoring the necessity for the CFTC to regulate these assets in accordance with the Commodities Exchange Act. This position may end the protracted discussion about whether cryptocurrencies are better classified as commodities or securities, providing much-needed regulatory clarity and enhancing investor confidence.
Goldman Sachs' tokenization projects
By the end of the year, Goldman Sachs wants to introduce three tokenization initiatives, with an emphasis on U. S. as well as European markets. These initiatives, which are led by tokenization and cryptocurrency enthusiast Mathew McDermott, have the potential to attract major institutional interest and investment into the crypto business.
JPMorgan's optimistic Bitcoin outlook
In a report released today, JPMorgan forecasts a bullish bounce for Bitcoin in August. In spite of recent market downturns, the bank is still bullish about Bitcoin's prospects. The analysis emphasizes that less downward pressure is anticipated as the recent wave of cryptocurrency liquidations fades. To better reflect the current state of the market, JPMorgan has also lowered its estimate of the year-to-date crypto net flow from $12 billion to $8 billion.
@ Newshounds News™
Read more: Investing
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Gold Prices Forecast: Bullish Momentum Builds on Rate Cut Expectations
Key Points:
—Gold surges above $2,400 as Fed rate cut expectations soar. Inflation data fuels rally, with markets now pricing 96% chance of September cut.
—Fed officials turn dovish, boosting gold's appeal. Daly and Goolsbee signal potential rate cuts as disinflation trend resumes. Third weekly gain for gold.
—Global uncertainties support gold's safe-haven status. Central banks continue buying spree. Traders eye potential new record highs amid dovish sentiment.
@ Newshounds News™
Read more: FX Empire
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