Coin circle news focus:

  • JP Morgan: Cryptocurrencies’ recent rally is overheated

  • Chicago Board Options Exchange to launch margin futures trading for Bitcoin and Ethereum

  • Ripple CEO believes the future will be a multi-chain world

The currency circle boss said this:

  • Founder of cross-chain platform ShapeShift: "Bitcoins should be traded using THORChain!"

Critical hit chance this week:

  • The sixth week of activities! Blockchain game platform airdrop ambush.

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.11.13 AM 08:00 ~ 2023.11.14 AM 08:00

Coin News Focus

JPMorgan Chase: Cryptocurrency’s recent rally may be overheating

According to a recent research report by traditional financial giant JPMorgan Chase, digital assets (cryptocurrencies) have witnessed strong gains in the past month due to market expectations for the potential approval of Bitcoin spot ETFs, but this rise may be too optimistic. .

The bank pointed out that the recent bullish sentiment has been mainly driven by two major arguments: First, it is believed that the approval of the Bitcoin spot ETF will help attract new capital into the crypto market, and second, the move will be seen as the crypto industry’s fight against U.S. securities With the victory of the Exchange Commission SEC, it is expected that the SEC will soften its attitude towards the encryption industry.

JPMorgan, however, is skeptical on both counts. The agency believes that relative to the inflow of new capital, existing capital is more likely to be transferred from current Bitcoin products, such as Grayscale Bitcoin Trust GBTC, Bitcoin futures ETF and listed mining companies, into newly approved spot ETFs. The agency also pointed out that spot ETFs that already exist in Canada and Europe have not attracted much interest from investors since their launch.

 

Chicago Board Options Exchange to launch margin futures trading for Bitcoin and Ethereum

Cboe Digital, the cryptocurrency arm of Chicago Board Options Exchange, announced that it has received approval from the U.S. Commodity Futures Trading Commission CFTC to list margin futures products for Bitcoin and Ethereum on January 11, 2024. At that time, Cboe will become the first U.S.-compliant exchange and clearing house to provide both spot and leveraged derivatives trading on a single platform.

Margin futures will allow traders to use leverage to trade beyond the size of their collateral, providing greater trading flexibility compared to regular futures trading. John Palmer, President of Cboe Digital, said, "Futures have long been an important hedging tool in traditional financial markets, and we are very pleased to be able to further expand the compliant use of this tool into the digital asset market."

 

Ripple CEO believes the future will be a multi-chain world

At the recent Ripple Swell 2023 event held in Dubai, Ripple CEO Brad Garlinghouse said at the theme seminar that he does not recommend people to become those who call themselves "extremists" and said that the future blockchain industry will It is a multi-chain world that remains open and optimistic about the development of various crypto fields.

In addition, Garlinghouse pointed out that he believes that global digital assets need two major factors to be further adopted, namely "a clear regulatory framework" and "obvious utility." The former is the part where the United States is lagging behind other countries, and the latter is the key for the cryptocurrency industry to get rid of speculation and allow the industry to truly have output value.

 

Other currency news

  • The U.S. House of Representatives Finance Committee FSC will hold a hearing on November 15 to delve into illegal activities related to the cryptocurrency ecosystem and focus on combating crypto crimes.

Full version of Lian Xi’s birthday report

Watch the boss’s views and critical attack opportunities this week

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