2025-01-17 12:30:00 by coingabbar

CryptoCurrency news Crypto News Today: Fed Printing, Litecoin ETF, Ethereum, XRP Surge US Fed Money Printing Likely Amid Reverse Repo Decline, Bitcoin Gains Ahead? The U.S. Federal Reserve anticipates increased money circulation as the Reverse Repo facility falls below $100 billion, shedding $65 billion in just two days. Experts believe further declines could prompt the Fed to print money, potentially boosting liquidity and investor confidence. This shift could favor riskier assets like Bitcoin (BTC), which is already leading price charts. With enhanced liquidity, BTC may gain as investors diversify into digital assets. Litecoin ETF Filing Gains Momentum with SEC Review In a significant development, Nasdaq has submitted a 19b-4 filing with the SEC on behalf of Canary Capital, advancing the approval process for a Litecoin ETF. This follows Canary Capital’s S-1 filing in October and its December amendment. The 19b-4 filing proposes rule changes under the Exchange Act, kickstarting the SEC’s review process once published in the Federal Register. Approval of this ETF could mark a turning point for Litecoin and the broader crypto market, driving optimism among  Trump’s Bitcoin Reserve Proposal Sparks Debate on Dollar’s Future As Donald Trump’s inauguration approaches, speculation swirls around the adoption of a U.S. Bitcoin Reserve under the proposed BITCOIN Act of 2024. Spearheaded by Senator Cynthia Lummis, the bill suggests the Treasury acquire 1 million BTC over five years. While advocates view this as a move to bolster the weakening dollar, critics warn it could lead to hyperinflation. According to CryptoQuant CEO Ki Young Ju, this raises a fundamental question: Can Bitcoin adoption strengthen or destabilize the U.S. dollar? Ethereum’s Pectra Devnet5 Goes Live; Mainnet Launch Set for March 2025 Ethereum’s developers have activated Pectra Devnet5, a test network for the upcoming Pectra upgrade, during the Execution Layer Meeting 203 led by Tim Beiko. Scheduled to succeed the Dencun update, Pectra focuses on addressing Ethereum's scalability challenges, including slow transaction speeds and high gas fees. By enhancing the consensus layer, Pectra aims to streamline transaction validation and reduce bottlenecks, ensuring a more efficient Ethereum network. The Pectra Mainnet is slated for launch in March 2025. Why XRP Is Surging : Key Drivers Behind the Rally XRP’s price surge stems from Ripple’s favorable legal developments against the SEC. Legal experts like John E. Deaton highlight the SEC’s challenges in appealing court rulings, which has buoyed market sentiment. Speculation over pro-crypto regulatory changes, including Gary Gensler’s potential departure and XRP ETF approvals, has further boosted institutional interest. Additionally, advancements in the XRP Ledger (XRPL), such as the XLS-65 and XLS-66 updates, have enhanced XRP’s utility in decentralized finance (DeFi), increasing market confidence.