CMBI’s tokenization initiative with BNB Chain builds on its previous work with Singapore-based DigiFT, which tokenized its fund on Solana in August. A Hong Kong-based subsidiary of a major Chinese commercial bank, China Merchants Bank (CMB), tokenized its $3.8 billion money market fund (MMF) on BNB Chain. CMB International Asset Management (CMBI) has partnered with BNB Chain to bring its CMB International USD Money Market Fund onto its layer-1 (L1) blockchain, BNB Chain announced on Wednesday. The partnership builds on CBMI’s real-world asset tokenization (RWA) cooperation with Singapore-based tokenization platform DigiFT, which tokenized the fund on the Solana blockchain in August. Read more
XRP’s macro outlook remained bullish, with analysts confident that a bullish breakout was possible if key support levels were reclaimed. Key takeaways: XRP price must flip the 200-day SMA and the $2.70-$2.80 resistance into support for a rally above $3.00. Analysts see a 57% chance of an upward breakout to $9.5-$27, with a 43% chance of a drop to $0.50. Read more
Bitcoin short-term holders struggled to seal profits in recent days while overall supply ownership flashed a classic bull-market top warning. Key points: Bitcoin’s NUPL metric repeats past bull-market tops with a move from “optimism” to “euphoria.” The Bitcoin realized cap is increasingly in the hands of short-term holders. Read more
Unlimited leverage and sentiment-driven valuations create cascading liquidations that wipe billions overnight. Crypto’s maturity demands systematic discipline. Opinion by: Lucas Kiely, CEO of Future Digital Crypto’s most significant issue is that it lacks the type of quantifiable value that traditional stocks possess, which makes it entirely speculative. On top of that, investors can leverage trades in a way that can tank billions of dollars overnight. Industry diehards behind the technology argue that blockchain’s innovative infrastructure is what gives it value. Yet there’s very little evidence that this translates into real, tangible gains for tokenholders. Read more
BitMine chair Tom Lee said that Ether going to $12,000 wouldn’t be a “blow off top,” it will just be price discovery at a new level. BitMine chair Tom Lee and BitMEX co-founder Arthur Hayes are holding strong on their prediction that Ether will hit $10,000 this year, despite a recent crypto crash, and there being less than three months left on the clock. “For Ethereum, somewhere between [$10,000] and $12,000,” Lee said on the Bankless podcast on Tuesday, when asked where he sees the cryptocurrency’s price going by the end of this year. Hayes, who also appeared on the same podcast episode, said he is “going to stay consistent” with his $10,000 prediction by the end of the year. Read more