Crypto Espresso: Your quick shot of the latest crypto moves and news
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Your quick shot of the latest crypto moves and news, the Crypto Espresso is brought to you by Capital.com Australia (AFSL 513393), a multi-award winning global investment trading platform.
It’s Thursday morning in Greater Sydney and there’s movement at the station for the coins from overnight have got away.
And smoking hot from the stacks at Capital.com, we’ve got price calls on NEXO and NEO.
Grab your saddle, let’s pony up…
US Market Close: Crypto assets, arise
The prominent cryptocurrencies were up during US markets opening on Wednesday, 12 January.
Bitcoin up 3.0%.
Ethereum up 4.8%.
Litecoin up 7.5%.
Bank consortium to release private stablecoin
And also overnight, a consortium of banks are partnering to develop a bank-minted stablecoin.
The cabal includes the New York Community Bank, NBH Bank, FirstBank and it’s not a continental breakfast without JAM FINTOP.
Known as USDF, the group said its stablecoin is being minted “to remove friction from the financial system.”
More are expected to join throughout 2022.
Senator wants The Fed to approve crypto banks
Wyoming’s Sen. Cynthia Lummis urged Federal Reserve Chair Jerome Powell to “throw a lifeline” to cryptocurrency institutions in her state on Tuesday. The comments came during Powell’s confirmation hearing before the Senate Banking, Housing and Urban Development Committee.
In a $1.15bn about-face, Citadel aims at cryptocurrencies
Citadel Securities, founded by curmudgeonly-cryptophobe Ken Griffin – here he is before Christmas telling everyone about life in the middle of a meme stock comedy – has taken $1.15bn (£845m) in funding from private equity firms Sequoia and Paradigm with plans afoot to expand operations into cryptocurrencies.
Investment angst: Crypto Bull vs Crypto Bear
According to Allied Market Research, the global cryptocurrency market size is projected to reach $4.9bn (£3.6bn, €4.3bn) by 2030, growing at a CAGR of 12.8% from 2021–2030.
But not all analysts share bullish views on the cryptocurrency market prospect.
NEXO price prediction: Where to next in 2022?
The NEXO crypto is the Nexo platform’s native token, and its design is based on a typical blockchain incentive structure. Learn more about it here, with some cracking analysis on its performance.
NEO price prediction 2022: what’s next for ‘Chinese Ethereum’?
China’s first digital coin, NEO has been on the slide since hitting a peak last May, despite its increasing reputation as a preferred blockchain platform for the development of smart contracts and dApps. This is a look at its past and possible future as an investment.
This article was developed in collaboration with Capital.com Australia (AFSL 513393), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.