Home Blog Page 1334

Binance Sees Dramatic Surge in Bitcoin Buyers: Here’s How BTC Price Reacted

Albert Brown
-
0
Binance Sees Dramatic Surge in Bitcoin Buyers: Here’s How BTC Price Reacted

Bitcoin sees a dramatic surge in buyer activity on Binance amid a significant increase in the Taker Buy-Sell Ratio and whale movements.

Analyst Ali Martinez observed and drew attention to the trend in a recent update. This surge aligns with data on the Bitcoin Taker Buy Sell Ratio from the snapshot shared by Martinez.

The Ratio, measuring buy versus sell orders, offers critical insights into market sentiment. From July 27 to July 31, the ratio fluctuated between below 0.8 and above 1.7.

Periods above 1.0 indicate aggressive buying, while those below 1.0 suggest aggressive selling. Notably, spikes above 1.2 often precede price increases, highlighting a direct correlation between buying pressure and price movement.

Screenshot 2024 07 31 at 181702
Bitcoin buyer-seller ratio chart for Binance by Ali Martinez

During July 27-28, the ratio remained mostly above 1.0 with occasional dips, indicating sustained buying pressure. Consequently, Bitcoin’s price gradually rose from around $66.5K to above $67K during this period. From July 28-29, a spike to around 1.5 led to a sharp price increase from approximately $67K to nearly $68.5K.

However, the period from July 30-31 saw the ratio drop below 1.0 multiple times, correlating with a price decline back to around $66K. A final spike to 1.7 was noted, with the price increasing slightly again.

Growing Market Confidence

The buyer interest by Bitcoiners is further proved by data from Santiment, which shows a steady increase in the total number of Bitcoin holders. This growing interest and accumulation among long-term holders typically support price stability and growth. 

Screenshot 2024 07 31 at 182501

Further, in Santiment’s analysis, the increasing number of holders (red line) supports the notion of accumulating sentiment, correlating with the higher Taker Buy-Sell Ratios observed in Martinez’s chart.

Spikes in active addresses (blue region) also align with periods of increased Taker Buy Sell Ratio, indicating heightened trading activity and market interest.

Whale Activity on Binance

Adding to the market dynamics, related data indicates awakening whales moving assets to Binance. Notably, a wallet that had been inactive for over 14 years moved 50 BTC to Binance. Analysis shows that the BTC, valued at approximately $3.05 million, was originally mined on July 14, 2010.

The miner wallet received 50 BTC as a block reward for mining block 67,254 during the early days of Bitcoin. At that time, the Bitcoin ecosystem was still in its infancy, with far less network congestion and lower difficulty levels compared to today.

Goldman Sachs CEO Recognizes Bitcoin as Store of Value

Abdulkarim Abdulwahab
-
0
Goldman Sachs CEO Recognizes Bitcoin as Store of Value

David Solomon, the CEO of Goldman Sachs, a leading global investment banking firm, has suggested that Bitcoin could indeed serve the role of a store of value.

Solomon voiced this sentiment during an interview with CNBC TV on Tuesday, responding to questions from correspondent Andrew Ross Sorkin.

Sorkin asked Solomon to comment on Bitcoin’s evolving status, noting endorsements from prominent political figures like former President Donald Trump and current efforts by Vice President Kamala Harris to engage with the crypto community.

Solomon clarified that he has never taken a definitive stance on whether Bitcoin will endure. He reiterated his view that Bitcoin remains a speculative investment, claiming it lacks a clear use case. 

Regarding the technology behind Bitcoin, Solomon expressed admiration, describing it as “super interesting.” He emphasized its potential for digitalization within the financial system to reduce friction.

While the Goldman Sachs CEO appreciates cryptocurrencies’ potential to reduce friction in the global financial system, he avoids focusing on their price movements. He noted that he does not dedicate significant attention to predicting whether BTC will reach $70,000 or $120,000.

There Could be a Store of Value Case for Bitcoin

Meanwhile, the CNBC correspondent asked Solomon if Bitcoin might develop a role similar to a gold reserve, specifically questioning whether it represents a store of value use case.  Solomon responded affirmatively saying, “There very well could be a store of value case.”

However, he clarified that he has never been a strong advocate for gold. Reflecting on a long-term perspective, Solomon noted that historically, investments in gold have generally performed well over 25 to 50-year periods. With Bitcoin’s performance over the last decade, he believes it fits the context of a store of value.

Notably, a historical chart comparing the 13-year performance of global investment instruments alongside Bitcoin shows that BTC greatly outpaces traditional rivals like gold and stocks. For instance, Bitcoin’s cumulative return since 2011 amounts to a staggering 18,881,969%. 

Meanwhile, gold recorded a 59% growth over the same period, according to a chart shared by MicroStrategy Chairman Michael Saylor.

Financial Leaders Endorsing Bitcoin

Overall, the Goldman Sachs CEO joins the ranks of global financial leaders recognizing Bitcoin as a legitimate store of value. Earlier this month, Larry Fink, CEO of BlackRock, admitted that he was wrong during his days of Bitcoin criticism, now referring to Bitcoin as a legitimate financial instrument.

XRP Market Liquidity Hits 3 Billion as Bulls Target $0.70 Breakout

Mark Brennan
-
0
XRP Market Liquidity Hits 3 Billion as Bulls Target $0.70 Breakout

XRP price finally breached the $0.65 territory on July 31, reflecting a 70% growth performance in the last 20 days of trading; on-chain data shows how bulls have capitalized on improved market liquidity amid Trump’s recent bullish statements. 

XRP Price Crosses $0.65 First Time in 3-Months

XRP continued on its upward trajectory with a blistering 8% rally on Wednesday, July 2024. Based on recent events and market narratives, the XRP price surge remains closely linked to Donald Trump’s comments at the Bitcoin Nashville conference at the weekend.

Since 2020, Ripple Labs has been embroiled in long-running legal squabbles with the current Gary Gensler-led SEC regime. However, with Joe Biden bowing out of the re-election race, Trump’s bullish stance on crypto has lifted investor sentiment around distressed assets like XRP, which have historically devalued due to perceived regulatory risk and legal sanctions.

The yellow-shaded area in the chart above shows how the XRP price gained 10.5% within the 24-hour timeframe on July 31. But zooming out, this means XRP price has increase by a whopping 72% in the last 20 trading days, dating back July 5 2024.

Notably, this marks the first time the XRP price has traded above $0.65 in 3-months, dating back to March 25. However, on-chain data trends suggest that XRP could be poised for even more gains in the days ahead.

XRP Deposits to Binance Crosses $2B Amid 72% Rally

Hence, this paints a bullish picture closely correlated to recent developments in the US 2024 Presidential campaign trail. With Donald Trump’s support for Bitcoin echoing across the altcoin markets, on-chain data shows that XRP traders have responded by bringing unusual levels of liquidity to the markets.

The cryptoQuant chart below tracks the total number of coins investors currently hold on trading platforms and exchange-hosted wallets. This provides insights into the level of short-term market liquidity available to execute trades.

XRP price vs. Binance Deposits | CryptoQuant
XRP price vs. Binance Deposits | CryptoQuant

Looking at the chart above, we see that XRP’s current price rally was preceded by an unusual spike in exchange deposits. Traders held a total of 2.68 billion XRP coins on the world’s largest crypto exchange, Binance, as of July 1.

The latest, culled from CryptoQuant, shows traders held deposits on Binance crossed 3.069 billion XRP on July 29.  Zooming out, this represents a 75 million (4% )increase in short-term market supply within the last 30-days.

Evidently, due to the increased demand triggered by Trump’s recent bullish statements, this boost in liquidity has contributed to accelerating the ongoing 72% price rally.

More so, it also suggests that a large number of retail traders registered on Binance and are showing interest in XRP again as the perception of regulatory risk wanes.

If this market dynamic persists, XRP could now advance towards $0.70 territory as August 2024 unfolds.

Fox Business References $52M Bitcoin Price Predictions in National Broadcast

Albert Brown
-
0
Fox Business References $52M Bitcoin Price Predictions in National Broadcast

VanEck’s digital assets research team has made a bold prediction about Bitcoin’s future, which has made headlines, particularly as a reference on Fox Business. 

The Bitcoin Therapist, a well-known crypto expert on X, drew attention to these predictions, emphasizing the growing penetration of Bitcoin into mainstream finance.

Notably, VanEck believes that by 2050, the largest cryptocurrency by market cap could surpass $2.9 million per coin on a base case scenario. Even more strikingly, if reserve currencies continue to lose significance and Bitcoin’s appeal grows, VanEck believes the asset could soar to $52,386,207 by 2050 on a bull case scenario.

National TV Praises Bitcoin’s Resurgence

Most recently, Fox Business noted Bitcoin’s impressive recovery. Not too long ago, it was trading below $20,000, with some enthusiasts predicting it might drop to $10,000. However, Bitcoin’s resurgence has been remarkable, capturing the attention of U.S. senators and notable figures like former President Trump and Robert F. Kennedy Jr. 

Both have publicly expressed support for Bitcoin, indicating a shift towards a pro-Bitcoin administration. During the Fox Business show, Natalie Brunell from the Coin Stories podcast spoke about the recently-concluded Bitcoin 2024 conference in Nashville. She described the event as a monumental occasion that will be discussed for years to come.

Former President Advocates Bitcoin,

Fox Business also highlighted how the former US President advocated for holding onto Bitcoin, highlighting a shift towards a pro-Bitcoin administration. Despite current leaders’ opposition to digital assets, Bitcoin’s free-market origins and status as a major global asset have gained bipartisan support.

Two presidential candidates are now courting the Bitcoin community, proposing its adoption as a strategic reserve asset for the US, reflecting Bitcoin’s growing influence. Additionally, there is an increasing push to involve more women in Bitcoin, with events like the annual Women of Bitcoin conference showing significant growth and pointing to a future where Millennial and Gen Z women lead the next wave of Bitcoin investors. 

Landmark BITCOIN Act of 2024

As all this goes on, Wyoming Senator Cynthia Lummis has introduced the “BITCOIN Act of 2024,” a significant bill designed to bolster the nation’s financial infrastructure. This legislation requires the U.S. Treasury to acquire 1 million BTC over five years, an investment estimated at nearly $70 billion. 

The main focus of Lummis’s proposal is to create a national Bitcoin reserve, allowing the U.S. Treasury to purchase up to 200,000 BTC annually for five years.

XRP Now Targets $150 As Top Analyst Says Show Just Beginning

Abdulkarim Abdulwahab
-
0
XRP Now Targets $150 As Top Analyst Says Show Just Beginning

Javon Marks, a widely followed technical analyst, has boldly asserted that XRP has now overcome its longstanding resistance, opening the path to $150. 

The analyst voiced this sentiment in a recent post on X, as XRP defied the border market bearish trend to print an over 10% gain. Today, XRP reclaimed a four-month peak at $0.6586 and has continued to defend most of the gains.

Considering XRP’s bottom of $0.38 in the first week of July, the token has advanced by over 73% this month. Many market analysts have noted XRP’s resurgence, sparking an update on their earlier estimations. Marks is one such analyst.

XRP Has Broken Six-Year Trend

In his latest update on X, analyst Marks confidently stated that XRP has now broken out of its massive 2,351-day resistance trend following today’s significant comeback. This resistance trend stretches from XRP’s 2018 peak value of $3.84 to its current value below $1.

Notably, XRP has remained below its all-time high for over six and a half years. During the 2021 bull run, it attempted to break the longstanding downtrend but was unsuccessful. 

A breakthrough emerged last July when the court ruled that XRP is not a security, helping it rally to $0.90, but the bearish market at the time hindered further progress. Now, with the bull market gaining momentum, XRP is showing signs that it will not be left out. 

$150 Now In Play For XRP

Marks argued that with the observed break from the downtrend, XRP is now headed for the never-seen-before price point of $150. He emphasized that with a full Logarithmic follow-through, this target represents an over 21,000% increase from its current value.

Meanwhile, $150 is not even the analyst peak target for XRP. He anticipates XRP to reach as high as $264 upon a full-scale breakout, mirroring the trend seen in 2017-2018. As a result, he remarked, “The show may be just beginning.”

XRP
Image Source: https://x.com/JavonTM1/status/1818484077592461419

Other Experts Disagree

However, other market participants do not share Marks’ ambitious outlook for XRP. The founder of Eckhardt Capital urged him to consider the market cap implications of a $150 XRP. Notably, XRP will command a valuation of about $15 trillion in the hypothetical scenario where it attains this lofty high.

Meanwhile, other analysts do not share the sentiment that XRP has indeed overcome its six-year resistance trend. In a separate analysis, analyst Ali Martinez stated that XRP’s entry into the $0.9 range would confirm its breakout from the extended downtrend.

XRP Records Highest Active Perpetual Futures Contracts in 3 Months 

Lele Jima
-
0
XRP Records Highest Active Perpetual Futures Contracts in 3 Months 

Demand for XRP hits greater heights, as reflected by the substantial rise in active futures contracts for the token.

XRP has continued to maintain its upward trajectory in the past few days. Despite the declines across the broader crypto market, XRP has remained above the $0.6 price territory. 

At press time, XRP is trading at $0.6505 per token, reflecting a daily increase of 3.46% and a weekly surge of 4.93%. Similarly, XRP has witnessed a remarkable growth of 37.99% in the monthly charts. 

XRPUSDT 2024 07 31 13 58 07
XRP Daily Chart

Active XRP Perpetual Futures Hits 1.5 Billion XRP 

Interestingly, XRP’s remarkable performance has extended to the derivatives market, where the token has recorded a jaw-dropping surge in activity. 

Data from Coinglass shows that the number of active perpetual futures contracts for XRP has reached a staggering 1.5 billion XRP. The figure represents the highest recorded since April 20, 2024, over three months ago. 

XRP Sees Surging Demand as Its Funding Rates Enter Positive Territory 

Furthermore, Coinglass also indicates that XRP’s funding rates have been positive across various crypto exchanges, including Binance, OKX, and Kraken. The token boasts a funding rate of 0.0046% in the hours leading up to press time. 

A positive funding rate suggests that there is increased demand for XRP long positions as traders anticipate a potential surge in price. In the meantime, XRP trading volume in the derivatives market has increased by 53.2% over the past 24 hours to $4.87 billion. 

In particular, Binance, Bitget, and Bybit rank as the top three exchanges with the largest XRP derivatives trading volume. While Binance boasts a volume of $1.7 billion in XRP derivatives over the past 24 hours, Bitget and Bybit’s volumes stand at $1.18 billion and $875 million, respectively. 

Meanwhile, XRP also witnessed a surging volume in the spot market, marking a daily increase of 32.95% to $2.43 billion. 

In the meantime, XRP investors are closely watching the SEC’s upcoming closed-door meeting slated for August 1. Some community members speculate that the SEC might finally agree to settle its multi-year lawsuit with Ripple at the meeting.

Like every positive development in the lawsuit, a potential settlement could pave the way for a significant XRP price rally. Nonetheless, whether the SEC will agree to settle with Ripple after the meeting remains to be seen.

Hoskinson Insists Cardano will Surpass Bitcoin as Top Crypto

Sam Wisdom Raphael
-
0
Hoskinson Insists Cardano will Surpass Bitcoin as Top Crypto

Charles Hoskinson, the Cardano founder, insists Cardano could surpass Bitcoin as the top cryptocurrency, believes Bitcoin could go out of vogue.

Hoskinson said this while speaking to Altcoin Daily. Notably, the Cardano founder had previously asserted that Cardano would become the largest crypto asset. One of the hosts of Altcoin Daily stressed that this means ADA will surpass BTC. He questioned when Hoskinson sees this happening. 

Hoskinson States Why Cardano Could Surpass BTC

In response, Hoskinson’s remarks highlighted his belief in Cardano’s potential to fundamentally change the economic, political, and social systems globally.

Hoskinson believes that Cardano’s strategy is central to its future success. He argued that if Cardano continues to expand its user base, it will inevitably become a multi-trillion-dollar ecosystem. This growth will be from the collective efforts of Cardano’s community.

Cardano’s mission, according to Hoskinson, is to enable billions of people worldwide by providing them with inspiration, tools, and resources necessary to innovate and grow. 

He emphasized the importance of a community-driven approach, where decentralized decision-making allows for rapid adaptation and improvement. This, he says, is a key factor that will help Cardano outgrow its competitors.

One of the critical points Hoskinson made is that Cardano’s design allows it to absorb new ideas. This adaptability, alongside a focus on first principles thinking and decentralization, positions Cardano to surpass Bitcoin. 

Cardano Founder: Bitcoin Has Become Stagnant

He compared Bitcoin to past technological giants like Yahoo and MySpace, which were eventually outcompeted by more innovative platforms. Hoskinson believes that Bitcoin’s strong suit is its renown and size. However, he believes this will not be enough to sustain it in the long term.

Hoskinson also argued that Bitcoin has become stagnant, with its only significant attribute being its large market presence. Recall that the Cardano founder previously contended that Bitcoin will not be able to survive without the broader crypto industry.

In contrast, he says Cardano aims to be more than just a store of value. Cardano aspires to offer high utility and serve as the backbone for various systems globally, such as payments and ID verification by integrating smart contracts, dApps, and a comprehensive governance system.

Cardano’s Governance System

The Cardano founder also highlighted the importance of a robust governance system. Drawing from his experience with Ethereum, he noted that projects with poor governance are prone to fracturing and losing momentum. 

He cited the example of NXT, an early cryptocurrency project that failed to sustain its growth due to weak governance, despite having a strong community and innovative features.

Hoskinson is confident that Cardano’s focus on governance and community-driven development will help it avoid the pitfalls that other projects have faced. Notably, Cardano is on the verge of fully welcoming the Chang hard fork, which will transition the system to the Voltaire era of more decentralized governance.

Charles Hoskinson believes that Cardano’s ability to pivot and adapt quickly, along with its commitment to decentralization and first principles thinking, will ensure its long-term success.

Another significant aspect Hoskinson discussed is the cultural aspect of technological advancement. He emphasized that fostering a culture of innovation and inclusivity is crucial for any project’s success. 

Hoskinson referred to Microsoft’s resurgence under Satya Nadella, who transformed the company’s culture and positioned it as a leader in the tech industry once again. Similarly, Hoskinson aims to cultivate a dynamic community within Cardano.

Bloomberg Analyst Clarifies Details of Grayscale’s Upcoming Ethereum and Bitcoin ETF Spin-Offs

Albert Brown
-
0
Bloomberg Analyst Clarifies Details of Grayscale’s Upcoming Ethereum and Bitcoin ETF Spin-Offs

Leading crypto asset manager Grayscale commended Bloomberg ETF analyst James Seyffart’s comprehensive insight on its upcoming ETF spin-offs.

In a recent post on X, Seyffart explained the upcoming spin-offs involving Grayscale’s Ethereum and Bitcoin mini ETFs. Seyffart’s insights clarified the creation of a mini Ethereum ETF (ETH) from Grayscale’s Ethereum Trust (ETHE) via a spin-off.

According to Seyffart, the creation of these mini ETFs will follow the same procedure for both Ethereum and Bitcoin. Investors holding shares of Grayscale’s Ethereum Trust will receive an equal number of shares in the new mini ETH fund.

This distribution is scheduled for July 23 for Grayscale Ethereum Trust and July 31 for Grayscale Bitcoin Trust. Importantly, investors need to be owners of record on the specified dates—July 18 for ETHE and July 30 for GBTC—to receive the new shares.

Impact on Trading Prices 

Notably, the spin-off mechanism has already impacted trading prices. Seyffart noted that the recent drop in ETHE’s price was directly linked to the upcoming share distribution, with a similar pattern expected for GBTC on July 30. 

Currently, ETHE trades at around $29 per share, while GBTC trades at around $59 per share. Post-spin-off, the new mini shares of ETH and BTC are expected to trade at lower prices, approximately $2-$3 for the ETH mini ETF and $5-$6 for the BTC mini ETF, reflecting the division of the original fund’s value.

Amid the update from the Bloomberg ETF analyst, Grayscale took to X to acknowledge the accuracy of the information and praise Seyffart.

Automatic Share Distribution

Grayscale emphasized that investors do not need to take any action to receive the new shares. The distribution will occur automatically, with shares reflecting in accounts shortly after the announced dates. This move aims to offer investors a choice between a lower-fee product and a fund with greater liquidity and a more extended track record. 

This spin-off initiative follows Grayscale’s launch of the two spot Ethereum products on NYSE Arca, further expanding its product portfolio.

However, since these Ethereum spot ETFs commenced trading last Tuesday, ETHE has not seen positive flows. Instead, it has been drained of $1.84 billion under seven days of trading.  On the other hand, the mini ETF “ETH” has seen a cumulative of $181 million in inflow.

Will the BOME Breakout Run Fail Due to Underlying Weakness?

Albert Brown
-
0
Will the BOME Breakout Run Fail Due to Underlying Weakness?

An ongoing run in BOME fractures the overhead declining trendline with a 35% increase in this cycle. However, the shorter-term trend reveals a 25% downside risk awaiting the meme coin.

Facing a massive demand crunch after hitting the $0.030 peak in March this year, BOME declines quickly to the $0.0071 support. Despite multiple trend reversal attempts, the quick to exhaust bullish powers in the meme coin led to a resistance trendline. 

As the ongoing bullish cycle manages to absorb the overhead supply with a breakout run, a bearish pattern warns of a downfall. So, will the breakout rally in BOME continue after months of correction, or is a downfall imminent?

Breakout Run and Trend Reversal in Book of Meme (BOME)

As previously mentioned, the bearish influence of the declining trendline led to a death cross and a long correction spree in BOME. Furthermore, the loss of bullish dominance at the $0.010 psychological mark led to a bearish alignment of the crucial daily EMAs (20, 50, 100).

BOME Price Chart
BOME Price Chart

Coming to the ongoing recovery, the higher high formation from the $0.0071 support breaks above all the crucial EMAs. Furthermore, the bull run breaks the overhead trendline of the descending triangle forming with the $0.0071 baseline. 

Currently, the meme coin forms a Doji candle at $0.01076, but the 21.50% jump over the last two days teases an uptrend continuation.

The daily RSI line faces opposition near the overbought territory, resulting in a downtick. However, the reversal might indicate a retest for additional momentum. Moreover, the 20D and 50D EMA are on the verge of a bullish crossover.

Bearish Megaphone Pattern in BOME Risks 25% Drop 

The higher high formation in the 4H chart with massive volatility forms a rising resistance trendline. However, the support trendline remains conservative and comparatively flatter, leading to the megaphone pattern in the BOME chart.

BOME Price Chart
BOME Price Chart

Currently, BOME faces opposition from the overhead trendline and warns of a negative cycle within. If the dynamic support of crucial EMAs fails, the meme coin could test the support trendline at $0.0080. 

Further, the bearish crossover in the MACD and signal lines teases a trend reversal within the pattern. 

Will BOME Crash This Week?

With a long-term breakout in the BOME daily chart, a minor correction is normal for a retest. However, the 4H megaphone is a bearish threat to the breakout rally in the meme coin. 

Although the supply is increasing gradually, the multiple number of support elements will likely hold the uptrend. As per the daily chart, the broken trendline retest could prove a bullish reversal point. 

According to the Fibonacci retracement levels, BOME struggles to reach the 50% Fibonacci level at $0.013. However, an uptrend continuation will likely surpass it to top $0.020 in the coming months.  

XRP in Focus as Ripple Expands Partnership with National Federation of Associations of Central Bank Servers

Abdulkarim Abdulwahab
-
0
XRP in Focus as Ripple Expands Partnership with National Federation of Associations of Central Bank Servers

Ripple expands its alliance with the National Federation of Associations of Central Bank Servers (Fenasbac) to promote XRP Ledger use in Brazil.

Ripple disclosed details of this latest collaboration via its official website on Monday. The report noted that the synergy with Fenasbac seeks to promote the development of efficient financial solutions that most satisfactorily leverage networks like the XRP Ledger technology.

Ripple Funding Firms That Best Use XRP Ledger

Notably, Fenasbac leads Next, the most prominent accelerator program in Brazil’s financial landscape. Next furnishes emerging fintech with robust growth potential with resources, mentorship, and investment opportunities.

Through Brazil’s Next accelerator program, Ripple plans to fund two fintech firms working on scalable blockchain-based solutions for various applications. These include asset tokenization payments, treasury management, and lending and borrowing.

As a key contributor to XRPL, Ripple continues to support global teams that use the XRP blockchain to develop solutions that will create a more efficient and inclusive financial system.

Earlier this month, Ripple opened applications for emerging firms in Japan and Korea that leverage XRPL to seek grants.

Ripple and Fenasbac in Second Phase Alliance 

Notably, this latest announcement marks the second partnership between Ripple and Fenasbac. It expanded on the collaborative research efforts with Polkadot and the Federal University of Rio de Janeiro. 

These initiatives focus on exploring blockchain interoperability solutions for Brazil’s digital currency (DREX) in collaboration with the country’s central bank. Brazil stands out as Ripple’s first choice for targeted investment due to its developer community, digital currency policies, and advanced payments infrastructure,

Silvio Pegado, Ripple’s managing director for LATAM, expressed enthusiasm for extending the collaboration with Fenasbac, which aims to support Brazilian startups using blockchain to solve practical financial problems.

He emphasized Ripple’s conviction that Brazil offers a conducive environment for technological innovation and progressive blockchain policies. Ripple views Brazil’s visionary stance as pivotal in revolutionizing financial services on a global scale.

Rodrigo Henriques, the Innovation Director at Fenasbac, expressed pride in engaging with the global market and serving as an entry point to Brazil’s financial innovation landscape. Henriques emphasized that collaboration with Ripple underlines their dedication to advancing blockchain and promoting solutions that positively impact society.

Notably, Fenasbac boasts a history spanning over fifty years. It originally focused on offering financial services to Central Bank employees. However, it has evolved to become a leader in financial innovation. This transformation includes the development and management of ecosystems like Lift and Next. 

1...1,3331,3341,335...2,666Page 1,334 of 2,666