EddieJayonCrypto
23 Aug 23
There are some interesting events I am tracking right now that seem to offer a glimpse into future impacts. Here is what is on my mind today.1. Is Robinhood relevant enough to matter anymore. Some people believe so and that an XRP listing could help boost the otherwise poorly performing crypto. I am...
There are some interesting events I am tracking right now that seem to offer a glimpse into future impacts. Here is what is on my mind today.1. Is Robinhood relevant enough to matter anymore. Some people believe so and that an XRP listing could help boost the otherwise poorly performing crypto. I am not so convinced. I think it would be a good thing for Robinhood to list XRP, but I do not think it will have the impact the platform once had when announcing a listing. I think their prolonged wait when listing other coins like Shiba Inu was the beginning of that impact decline. What I do think will have an impact on XRP is their continued success with governments around the world in creating stablecoins and CBDCs. 2. While Binance Pay interest the Brazilian market for cryptocurrency payments, Binance.US is partnering with MoonPay to reintroduce USD transactions via on-ramping fiat to Tether. For Binance.US this is a major move given its current regulatory woes. Not to mention the US-based exchange has had troubles with inflows stemming from those legal troubles. This could be a boost to embattled exchange. 3. If you recall, Grayscale appealed the decision on their Bitcoin Spot ETF. Back in March of this year, Grayscale argued in court that the SEC's rejection of their application was unfair given the agency's approval of a futures ETF all the way back in 2021. Well, we were expecting a decision from the appellate court yesterday. However, that decisions has been kicked down the road. I am having a hard time understanding why. You get the evidence from both sides. You weigh said evidence, then you come to a decision. Is the judge hoping that other legal transaction will happen that will make it easier for them to side either way? I find it peculiar to say the least. Is it that our courts too afraid of setting precedent? 4. The other day I mentioned OpenSea may have made a serious mistake in their decision to not enforce royalties for artists. Well, Rarible is about to per implement permanent support royalties for the NFT trading market. The new action will go into effect on September 30th. This also means the platform will stop aggregating orders from OpenSea, Lookshare and X2Y2. I think you are going to see a lot more artists flock to Rarible. This really could the move that takes the crown from OpenSea. Time will tell, but I think that is going to happen. 5. Municipalities in South Korea are about to crack down on people using crypto to avoid paying taxes. Centralized exchanges, such as Upbit and Bithumb are being called to look into suspected accounts of over 8500 users owing a minimum of 1M KRW (about $745). 6. While the world watches Bitcoin dive over the past couple of weeks there is a mysterious wallet on the scene that has amassed over $3B in BTC. I say mysterious because no one that knows who or what owns the wallet is saying a word. So speculation is swirling around how the wallet has amassed that much in just a mere 3 months.