The digital asset market saw a significant recovery post-end-of-September slump, driven by investor interest in safe-haven assets amid the US government shutdown. Bitcoin may reach a new all-time high of $150,000 by year-end. France’s central bank deficit could lead to trillions in money printing, boosting Bitcoin liquidity.
Capriole Investments founder Charles Edwards predicts Bitcoin could hit $150,000 soon after breaking $120,000. Analysts project Bitcoin may surpass $200,000 in this cycle. US 401(k) retirement plans adopting crypto could bring $122 billion in new capital, potentially pushing Bitcoin over $200,000 before year-end.
ARK Invest CEO Cathie Wood compares Hyperliquid to Solana’s early days, highlighting its potential in the crypto space. Wood notes ARK’s exposure to Bitcoin, Ether, and Solana through Breera Sports. While not confirming a position in Hyperliquid, Wood sees potential in the protocol amid rising competition in the perpetual futures DEX sector.
Tornado Cash co-founder Roman Storm seeks acquittal on money transmission charges, arguing prosecutors failed to show intent to aid bad actors. Storm’s defense claims the government lacks evidence of willful assistance to bad actors, urging the judge to dismiss charges. The Tornado Cash case raises questions about intent in crypto mixer use.
Dragonfly Exec Rob Hadick sees tokenized equities benefiting traditional markets more than the crypto industry. While tokenized stocks may boost traditional finance with 24/7 trading, unclear benefits exist for major crypto players like Ethereum. The SEC’s plan to allow blockchain stocks could impact crypto exchanges, but institutions prefer their own blockchains for control and privacy. Centralized exchanges may disappear in 5-10 years as DeFi aggregators like 1inch take over, according to co-founder Sergej Kunz. Kunz predicts exchanges will become frontends for DEXs, offering global liquidity. Centralized exchanges like Coinbase are already investing in onchain systems to stay relevant in the evolving financial industry.
In the DeFi market, Zcash (ZEC) saw a 157% increase, while DeXe (DEXE) rose over 34% in the top 100 cryptocurrencies by market capitalization. Overall, most cryptocurrencies ended the week positively. Stay tuned for more impactful DeFi developments and insights next week.
Read more at Cointelegraph.com
1. Bitcoin hits all-time high of $64,863 before plunging to $52,148 in volatile trading. Experts cite concerns over regulatory crackdowns and environmental impact of mining. Investors remain divided on future outlook for the cryptocurrency market.
2. Ethereum reaches new record high of $2,548 amid growing interest in decentralized finance (DeFi) applications. Network upgrades and increased institutional adoption contribute to the bullish sentiment among investors.
3. Dogecoin experiences significant price surge, rising by 100% in 24 hours to reach $0.40. Social media hype and celebrity endorsements drive the meme-based cryptocurrency’s rally, despite warnings from financial experts about its speculative nature.: Bitcoin, DeFi Rally, Zcash Top Weekly Crypto Performance: Finance Redefined