Bitcoin Price: US$ 30,462.66 (-0.21%)
Ethereum Price: US$ 1,898.80 (+1.27%)
The integration of the ChatGPT plugin with the Hedera network brings together blockchain and artificial intelligence, allowing secure interactions and streamlined asset management. Users can easily retrieve token balances from Hedera accounts, benefiting from the verifiability and integrity provided by blockchain technology. In Japan, a tax exemption for token issuers on unrealised cryptocurrency gains has been approved, promoting token issuance and business activities. Meanwhile, the rise in US Treasury yields indicates investors’ expectations of sustained inflation, with potential implications for the price of Bitcoin. The disrupted correlation between Bitcoin and Treasury yields suggests investors prioritising the safety of government bonds despite lower yields. Overall, these developments reflect the convergence of technology and finance, while economic indicators signal growing concerns about a potential recession.
JP Morgan has successfully executed its first blockchain transaction using its own JPM Coin, facilitating a Euro-denominated payment for Siemens AG. The transaction took place on JP Morgan’s permissioned blockchain, which is accessible only to institutional clients for payment settlements. This move highlights the interest of traditional financial institutions in leveraging blockchain technology to expedite secure transactions. In another development, the Volatility Shares 2x Bitcoin Strategy ETF, the first leveraged bitcoin futures exchange-traded fund, has gained approval from the U.S. Securities and Exchange Commission and is set to begin trading. The fund aims to deliver double the daily return of a bitcoin futures index and provides investors with exposure to bitcoin price increases without directly investing in the cryptocurrency. Bitcoin and ether have started the week positively in Asia, buoyed by increasing investor optimism and multiple applications for spot bitcoin exchange-traded funds. Analysts predict further growth and volatility in the market, with bitcoin maintaining support above $30K as a crucial level to watch.
Disclaimer: The following summaries are provided for informational purposes only and are not intended to infringe upon any copyrights. All rights to the original content belong to their respective owners, and the summaries are intended to provide a brief overview of the content. If you are the owner of any of the content summarised here and have concerns about its use, please contact us to discuss the matter further.