Australia’s largest stock exchange, the Australian Securities Exchange (ASX), is reportedly set to approve several spot Bitcoin exchange-traded funds (ETFs) by the end of 2024.

Following the lead of fund issuers in the United States and Hong Kong, VanEck Australia and local ETF-focused fund manager BetaShares are expected to have their applications approved, according to anonymous sources cited by Bloomberg.

Australian Securities Exchange: Confidence in Launch of Bitcoin Spot ETFs

ASX, which manages about 80% of local trades in Australia and boasts a domestic market capitalization of $2.7 trillion as of March 2024, is seen as a key platform for the introduction of…

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$1M – $10M MarketCap:

1. StoryFire (BLAZE): 53%
2. ArchLoot (ALT): 13%
3. Amulet Protocol (AMU): 11%
4. Pomerium Ecosystem Token (PMG): 7.1%
5. Crypto Hunters Coin (CRH): 5.1%

$10M – $100M MarketCap:

1. BlockGames (BLOCK): 32%
2. Inter Milan Fan Token (INTER): 17%
3. Crypto Gladiator League (CGL): 17%
4. Stader (SD): 6.6%
5. Arix (ARIX): 6.5%

$100M – $1B MarketCap:

1. Amp (AMP): 22%
2. Braintrust (BTRST): 16%
3. ZetaChain (ZETA): 8.2%
4. Helium (HNT): 6.1%
5. Covalent (CQT): 5.3%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Amid a broad recovery in the cryptocurrency market, Cardano (ADA) has marked a notable increase in whale transactions, reaching a peak unseen since November 8, 2023. Recent data from Santiment, a cryptocurrency analytics platform, reveals that there have been approximately 1,776 transactions involving sums over $100,000. This surge in large-scale activities correlates with historical instances of potential price reversals. Despite a significant 43% drop in ADA’s market capitalization since March 13, these spikes in whale activity hint at an emerging optimistic trend for the cryptocurrency.

While the overall crypto market flourishes, with a 1.49% increase in total market cap to $2.34 trillion, led by Bitcoin (BTC), ADA’s unique position is further highlighted by the contrasting behavior in wallet activities. Over the last three months, the number of “non-empty” Cardano wallets has slightly decreased by 0.13%, whereas Bitcoin and Dogecoin have seen an increase in active wallets by 2.6% and 13.8%, respectively. This pattern suggests that despite the decline in general wallet activity, the growth in whale transactions could be a precursor to a significant price movement for ADA.

Santiment

Source: TheBTCTherapist
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San Francisco’s Ripple has recently partnered with Tokyo’s HashKey DX to advance blockchain technology solutions in Japan. This collaboration, underpinned by the XRP Ledger, aims to provide enterprise solutions tailored to Japanese businesses. HashKey DX, a segment of the broader HashKey Group established in 2018, specializes in blockchain consulting and has become a pivotal force in Asia’s cryptocurrency sector. With over $7 billion in total trade and more than 4,000 registered companies, HashKey Group has cemented its influence, especially after securing $100 million from a Series A funding round in January, bringing its valuation to $1.2 billion.

The initiative is set to be rolled out through SBI Ripple Asia, a joint venture formed in 2018 between Ripple and Japanese financial titan SBI. This venture will pioneer a new supply chain solution for corporations in Japan, marking a significant step in integrating blockchain technology within traditional business frameworks. Ripple CEO Brad Garlinghouse highlighted the significance of this partnership on the X social media platform, underscoring its potential to enhance Ripple’s influence and adoption across Asia, subtly boosting the broader blockchain and cryptocurrency sector, including Bitcoin.

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