Surging prices, anticipation, and steady coin interest round out today’s headlines.
Ryan Watkins: 2021 could be Massive for Ethereum
2020 can be described as a year when institutions “understood Bitcoin and saw an opportunity.”
It all began with MicroStrategy and Michael Saylor, its CEO going against the grain and taking a chance with Bitcoin. By first dipping $25 million and later following up with $450 million in September, their ROI has since more than doubled as Bitcoin prices blasted past $20k, adding another $8k on top.
Therefore, just like Bitcoin, Ethereum could follow the same path in 2021, according to Ryan Watkins, an analyst with Messari. In his view, the writing is already on the wall following the announcement by the CME Group that it will launch Ethereum Futures in February 2021.
Ryan says already institutions have opened up, accepting BTC as a store of value. With this, they also agree that other crypto assets have value and are investable.
Some analysts expect ETH/USD price gains to be parabolic once bulls break $1k. Specifically, Antony Sassano predicts ETH prices to hit $10k. He has already backed this with a strategy.
Coinbase to Suspend Ripple (XRP) Trading in January 2021
The San Francisco based cryptocurrency exchange, Coinbase, has confirmed that it shall suspend the trading of XRP in January 2021. However, the coin shall be supported by the exchange’s wallet and custody solution, as they monitor legal developments related to the coin.
Following the United States Securities and Exchange Commission (SEC) intention to sue Ripple and two of its executives for selling XRP—a digital asset that it says is a security, Coinbase joins several exchanges and asset managers, including Bitstamp and 21Shares, in de-risking.
XRP critics assert that the SEC has a solid case against Ripple despite Brad Garlinghouse’s confidence.
Amid the expected liquidity crunch, the XRP price fell to $0.20 before reversing to $0.24 but still couldn’t prevent Litecoin from flipping it to fourth.
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