The digital asset market has recovered significantly over the past week following a slump at the end of September. Due to the uncertainty caused by the first closure in six years, investors’ profits were driven by a new appetite for safe inventory assets.
The growing demand for secure assets could follow Bitcoin (BTC) at gold gatherings, leading to a new high of $150,000 by the end of the year, according to Charles Edwards, the founder of Capriole Investments. Bitcoin recovered beyond the $120,000 mark on Thursday for the first time since August 14th, and continued trading above the $120,122 as of Friday’s writing.
Elsewhere, the balloon financial deficit of the French central bank could lead to a “trillions of euros” money print by the European Central Bank (ECB), which could indicate fresh liquidity flowing into Bitcoin, thus providing another Bitcoin catalyst.
A breakout of $120,000 in Bitcoin leads to “very quick moves” to $150,000. Charles Edwards
Bitcoin could surge to a new high of $150,000 by the end of 2025, according to Charles Edwards, founder of Capriole Investments.
A Bitcoin recovery beyond the $120,000 psychological mark could lead to a “very quick” breakout of $150,000 in an interview at Token2049 in Singapore. “I wouldn’t be surprised if it went up to $150,000 in a rather short time, so that I’d have to get out of the $120,000 range. But it’s probably coming the next day.”
Bitcoin has risen above 6% in the past week, recovering above $118,500 for the first time since August 15th.
Edwards’ outlook is more conservative than some other analysts who predict the current cycle.
André Dragosch, head of European research at Bitwise Asset Management, told Cointelegraph that inclusion of Crypto in its US 401(k) retirement plan could unlock $122 billion in new capital. Even a 1% allocation by a retirement manager could be sufficient to exceed $200,000 in Bitcoin before the end of the year, he said.
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Kathy Wood: High lipid “Reminiscent of Solana before”
Ark Invest CEO Cathie Wood compared high lipids and Solana’s early stage promises, calling it “the new kid on the block.”
“It’s exciting. It reminds me of Solana from the previous days, and Solana proves its value and is with the big boy you know,” Wood said in a recent interview on the “Master Investor” podcast.
Ark Invest currently holds three major crypto assets with public funds: Bitcoin, Ether (ETH) and Solana (SOL). The company’s exposure to Solana is via Breera Sports, and what Wood has made clear is tied to Solana Treasury, and is supported by Middle Eastern investors. She also noted the relationship between recommendations with the project through economist Art Ruffer.
Wood did not check the location of the high lipids, but described the protocol as being viewed. Her remarks come as competition between Dexs is growing after Aster fired the token earlier this month, and its trading volume and open interest fired the token over high lipids.
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Rome Storm seeks to be acquitted of tornado cash transmission fees
Roman Storm, co-founder of Tornado Cash, asked a federal judge in the United States to acquittal the sole conviction for unlicensed money transmission and the number of ju-secrets for money laundering and sanctions violations, claiming that prosecutors had not proven that the bad actors would help the bad actors misuse the code mixers.
According to legal documents filed in US District Court for the Southern District of New York on September 30 and reviewed by Cointelgraf, Storm’s defense attorneys argued that the prosecutors failed to prove that they intended to help bad actors use tornado cash. This would, according to the defense, nullify the basis of his beliefs based on negligence omission.
“The argument was that Storm and the bad actors knew they were using tornado cash and were unable to take sufficient steps to stop them. This is a theory of negligence,” the motion states.
The defense further argued that “there is no positive evidence that Mr. Storm acted with intent to support a bad actor.” The government sought to address the deliberate burden by claiming that the defendant had failed to prevent misuse. “It’s an allegation that opposes intentional standards and is not supported by the law,” the allegation states.
The acquittal motion called on the judge to abandon the charges and verdicts because the prosecutor’s evidence, even true, is legally insufficient.
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SEC tokenized stock push has an unclear advantage of crypto: Dragonfly Exec
Tokenized stocks will benefit the traditional market, but they may not be the benefit of the crypto industry that others have predicted, said Rob Hadick, general partner at Dragonfly at Crypto Venture Firm.
“There’s no doubt that it will have a big impact on Tradfi,” Hadick told Cointelegraph at the Token 2049 conference in Singapore. “They want a 24/7 deal, which is better for their economics.”
However, he saw an unclear advantage in major crypto players in real-world asset tokenization spaces such as Ethereum.
The Securities and Exchange Commission is reportedly developing a plan to allow blockchain versions of stocks to be traded on crypto exchanges after pushing regulators to allow many financial institutions to always allow open markets.
Haddick said the agency “doesn’t want to participate directly in these general purpose chains,” giving Robinhood and Stripes as examples of building their own blockchains.
“They don’t want to share economics. They don’t want to share block space with memo coins. They want to have control over something like privacy. [and] Who the Balidator is is hoping to have control over what is happening in the execution environment. ”
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Intensive exchange will be defi front-end within 5-10 years: 1 inch co-founder
According to 1-inch co-founder Sergej Kunz, centralized crypto exchanges could disappear within the next decade as distributed finance (DEFI) aggregators take over.
In an interview with Cointelegraph at Token2049 in Singapore, Kunz predicted that the exchange would slowly migrate to the front end of distributed exchanges (DEX). “I think it’s going to take five to ten years,” he said.
Kunz argued that central exchange is an isolated market, but that an inch and its aggregators act as a global liquidity hub. His comments include 1inch announced a deal with a major US crypto exchange Coinbase, which integrated its services to provide users with DEX deals.
Kunz said investment in the Onchain system through centralized exchange demonstrates the understanding that the technology they rely on “will never stay forever because you have a decentralized exchange and a digitized finance.”
“They don’t want to miss the train and stay behind. They employ our technology, because it empowers the whole financial industry from our perspective,” he said.
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Overview of Defi Market
Most of the 100 largest cryptocurrencies by market capitalization ended in a week on Green, according to data from Cointelegraph Markets Pro and TradingView.
Privacy ZCASH (ZEC) tokens have surpassed 157% as the week’s biggest winner in the top 100, and since then, Dexe (Dexe) tokens have risen by more than 34% on the weekly charts.
Thank you for reading this week’s most impactful Defi development summary. See more stories, insights and education about this dynamic space next Friday.