Tether solvency fears are ‘misplaced’ as company sits on large surplus: CoinShares

Crypto analyst Miles Deutscher has declared a 91.5% probability that Bitcoin has reached its bottom, citing market reactions to negative news and historical patterns as key factors in his assessment. He emphasizes that despite recent adverse events, Bitcoin's price has shown resilience, suggesting a potential turning point in the market.

Bitcoin is currently facing potential volatility as traders anticipate a repeat of the July 2024 crash, influenced by the upcoming Federal Open Market Committee (FOMC) meeting on December 10 and a likely hawkish stance from the Bank of Japan (BOJ) later in December. Analysts, including Benjamin Cowen, suggest that a similar policy shift could lead to significant price declines for Bitcoin, reminiscent of last summer's market reactions.

Ethereum has shown resilience by reclaiming the $3,150 level, indicating a potential recovery after a period of significant selling pressure and market uncertainty. The Net Unrealized Profit/Loss (NUPL) for Ethereum is currently at 0.22, reflecting a balance between fear and optimism among investors.

Digital Assets has secured a strategic investment of approximately $50 million from major financial institutions including BNY, Nasdaq, iCapital, and S&P Global to bolster the adoption of the Canton Network, which focuses on blockchain infrastructure for tokenized real-world assets.

XRP has reached a yearly high in on-chain velocity, indicating a surge in network activity as it rebounds to the $2.10 level amidst a recovering cryptocurrency market. This uptick in velocity, reported by CryptoOnchain, reflects increased economic activity and liquidity on the XRP Ledger, marking a significant moment for the cryptocurrency.

Christopher Harborne, a notable crypto investor, has made headlines by donating $12 million to the UK's Reform Party, signaling a significant financial commitment to political engagement within the cryptocurrency sector. This investment aligns with Harborne's previous involvement in the crypto industry, particularly with Tether and Bitfinex.

Shareholders at CEP's Extraordinary General Meeting have approved the merger with Twenty One Capital, which is backed by significant investments from Tether and SoftBank, positioning the firm to hold 42,000 BTC and prepare for its public debut on Nasdaq.

Digital Asset has secured approximately $50 million in funding from notable investors including BNY, iCapital, Nasdaq, and S&P Global to enhance the adoption of the Canton Network, a platform designed for onchain tokenization. This funding is expected to facilitate the growth of institutional interest in blockchain technology.