This Week in Crypto: FTX Dump Fears, Property Token Goes Live, SHIB Prospects, and ETF Bull Case
Learn about the latest happenings in the crypto world including FTX liquidation fears, real estate tokenization, SHIB prospects, and the bull case for ETF approval. Stay informed and discover potential investment opportunities.
Posted 10 months ago in Blockchain
This week in crypto saw bullishness around the approval of spot Bitcoin ETFs, real estate tokenization, and the prospects of earning $1 million from SHIB.
The crypto world refocused on several major events that will soon unfold. Beleaguered crypto exchange FTX was allowed to liquidate $3.4 billion in cryptocurrencies. A new report from K33 Research argued that the market is underestimating the positive impact a Bitcoin spot exchange-traded fund (ETF) approval could have. The green light for FTX liquidation stirred anxiety, while K33 researchers say the approval of spot ETFs could portend higher buying demand.
Tykhe Capital introduced PRINCE, Hong Kong’s first tokenized security representing a share of real estate ownership. BeInCrypto speculated on the amount of SHIB needed to become a millionaire if SHIB reaches previous bull-market highs.
Markets expressed concern over the impending FTX liquidation, with worries about Ethereum and Solana prices. Despite the uncertainty, the mass selloff failed to materialize, and FTX's liquidations will happen in weekly tranches. FTX embarks on legal maneuvers to recoup its assets through lawsuits against LayerZero and its COO Ari Litan.
Tykhe Capital launched the first ever real estate fund security token in Hong Kong, paving the way for more real estate tokenization in the global financial hub.
K33 Research believes that approval of spot Bitcoin ETFs could attract over 30,000 BTC in new money within their first 10 trading days, potentially pushing the price of Bitcoin beyond $42,000 in the first 100 days.
To become a millionaire in the next bull run, investors are speculating on the amount of SHIB needed to buy. BeInCrypto provides a formula to calculate how much SHIB is required.
The top altcoin gainers this week are HiFi Finance token, STORJ, and MTL. Bitcoin, ETH, and SOL were the most talked about cryptocurrencies on social media this week.
Overall, this week showcased bullishness in crypto despite uncertainties surrounding FTX, real estate tokenization, and the prospects of SHIB and ETFs.
Last updated 9/16/2023, 1:20:30 AM
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