Stock Market Breakthrough: Bitcoin and Ether Trading Set for NYSE, Nasdaq, and Other Major Exchanges
In the rapidly evolving world of cryptocurrencies, several significant updates have been announced this week. Here's a roundup of the most notable developments.
MobyScreener has introduced a new prediction market tool, showcasing the top traders across various prediction markets, starting with Polymarket. This live feed is set to provide an exciting insight into the crypto trading landscape.
Ondo Finance has made waves by announcing that tokenized stocks and ETFs will commence trading on Ethereum today. This move is expected to open up new opportunities for investors in the crypto space.
California Governor Gavin Newsom has announced plans to launch an anti-Trump memecoin of his own. While details are scarce, this move could potentially mark a new chapter in the world of political memecoins.
The cryptocurrency market has seen some notable sales recently. An Autoglyph sold for 93 ETH ($405,000), marking the first sale in a month. Similarly, another Abstract NFT also fetched 93 ETH in a sale, signalling a resurgence in the NFT market.
Regulatory advancements have been a key focus this week. The SEC and CFTC have issued a joint statement allowing registered U.S. exchanges to facilitate trading in certain spot crypto asset products. This decision could pave the way for major traditional financial marketplaces like the NYSE, Nasdaq, CBOE, and others to start spot trading with Bitcoin and Ethereum once they obtain the required approval.
Crypto majors such as SOL, BTC, ETH, and XRP are experiencing growth. However, ETH NFT leaders have seen a slight downturn, with Punks, Pudgy, BAYC, and others down by 1-5%.
Crypto trading is going mainstream in the U.S. under a regulated framework. This shift from an "enforcement first" approach to a "coordination first" one is being welcomed by many in the industry.
In other news, Gemini has announced plans to IPO at a $2.3B valuation. Meanwhile, Galaxy Digital has announced it will tokenize its SEC-registered shares on Solana.
The AI sector of crypto has seen some interesting movements. TIBBIR and CAESAR led the top movers, while FARTCOIN, VIRTUAL, TIBBIR, aixbt, and ai16z also made notable gains.
Linea has launched 'Linea Ignition,' bringing its liquidity-boosting incentive program to the entire Linea community. Linea has also announced its TGE for September 10 along with an eligibility checker.
EtherFi's restaking protocol has received a boost with ETHZilla deploying $100M of ETH holdings into the protocol. This move could potentially lead to tighter spreads and fewer fragmentation headaches.
Underdog is launching a prediction market in partnership with Crypto.com, with a focus on sports predictions. Pump Fun has also launched Dynamic Fees v1, offering 10x bigger creator fees in a new tiered fee structure.
Rekt Drinks has announced a strategic partnership with GameSquare Holdings, with GameSquare buying $2M of REKT tokens. Coinbase has unveiled a new Mag7 + Crypto Equity Index Futures product for trading.
The Bitcoin ETFs saw their highest net inflows since August 8 on Monday, a positive sign for the future of Bitcoin ETFs. The Bitcoin NFT market has also seen some activity, with Bitcoin NFTs mostly in the red, led by Nodemonkes (+8%).
Corporate crypto treasuries are nearing $100B in assets after the summer boom. Memecoin leaders are green on the day, with DOGE, Shiba, PEPE, PENGU, BONK, SPX, and FARTCOIN among the top movers.
More bullish announcements for crypto are expected in the near future, signalling an exciting period ahead for the cryptocurrency market. The joint statement from the SEC and CFTC represents a significant step forward, according to SEC Chair Paul Atkins. This move could potentially mark a new era of regulatory support for the crypto industry.
