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Ethereum Price at Risk? Bearish Chart Patterns Warning
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, appears bearish and is poised for a price decline. The reasons for this include how ETH is lagging behind top assets like Bitcoin (BTC) and Solana (SOL), its current price action formation, the latest sell-offs by whales, and more. Ethereum (ETH) Sluggish Performance With steady and dull performance compared to other assets, whales and investors have dumped significant amounts of ETH in recent days. Recently, CoinPedia reported that a dormant whale, holding 398,889 ETH worth $1.34 billion, offloaded 73,356 ETH valued at $224 million. This notable dump has created potential selling...
Goldman Sachs Unveils Plan for Independent Digital Asset Platform to Reshape Markets
Goldman Sachs is planning to spin off its digital assets platform into an independent company, aiming to enable large financial firms to create, trade, and settle instruments via blockchain. Mathew McDermott, Goldman’s global head of digital assets, revealed that the initiative is in early stages, with a spin-out goal set within 12 to 18 months, pending regulatory approval. The platform’s first strategic partner, Tradeweb Markets, will collaborate on developing new use cases. Goldman envisions an industry-owned model to enhance adoption and scalability, focusing on blockchain applications like tokenizing funds for collateral. Separately, Goldman is exploring private digital-asset secondary market transactions...
Mexican Peso rises despite Banxico rate cut, defying investors
Mexican Peso extends its rally, following Banxico’s decision. Banxico cuts rates despite inflation rising to 5.57%; core inflation trends down. The Board anticipates further rate adjustments; inflation risks remain tilted to the upside. The Mexican Peso strengthened against the Greenback on Thursday as the Bank of Mexico (Banxico) decided to lower borrowing costs from 11.00% to 10.75%, defying estimates of keeping the main reference rate unchanged. Despite that, the USD/MXN dropped to a four-day low of 18.89 before trimming some losses but remains below 19.00. Governor Victoria Rodriguez Ceja and Deputy Governors Galia Borja and Omar Mejia Castelazo voted in...
