The Crypto Market Takes Its Time

Fidelity Investments believes that most market participants should have positions in Bitcoin, regardless of their beliefs. To do this, they need to allocate only between 1 and 5% of their capital to BTC.

Ripple CEO Brad Garlinghouse said the launch of the Ethereum-ETF will open the door for other cryptocurrencies to enter the ETF market. He believes the emergence of XRP-based spot exchange-traded funds is “inevitable.” Other ETF contenders could include Solana (SOL) and Cardano (ADA).

FTX, which is in bankruptcy proceedings, settled a lawsuit from the US Internal Revenue Service (IRS). Under the parties' settlement agreement, the agency will receive, at best, $885 million from FTX instead of the $24 billion originally requested.

The company behind StarkNet, StarkWare, intends to make the L2 network a single scaling layer for the first cryptocurrency alongside Ethereum. This requires implementing Bitcoin's OP_CAT update, which will return smart contract functionality to the blockchain.

by Alex Kuptsikevich, Senior Market Analyst at FxPro

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