Bitcoin exchange traded funds have unlocked institutional capital in the crypto arena. The U.S. Securities and Exchange Commission approved Bitcoin and Ethereum spot ETFs in early 2024 marking a transformative shift in crypto investments. Bitcoin ETFs currently hold close to $100 billion in net assets under management while Ethereum ETFs have $7.85 billion. Recently, discussions on XRP ETFs have raised optimism about the asset’s possible surge to $10. Meanwhile, a new crypto project could witness a 500% upsurge after launch.
Will XRP hit $10 if its ETFs are approved?
The U.S. financial watchdog (Securities and Exchange Commission) recently acknowledged it had received Grayscale’s spot XRP exchange-traded fund filing. Although the acknowledgment does not guarantee approval, it shows that the regulators are paying attention to crypto developments. XRP has the potential to surge to $10.
However, analysts believe that huge price swings will set in once the regulator approves the applications. Despite the optimism, Bloomberg ETF analysts James Seyffart and Eric Balchunas have looked down on the filing saying Ripple is the least likely crypto ETF to get approval.
BinoFi’s Set For At Least 500% Price Increase
BinoFi is a new crypto project that aims to disrupt trading activities in the decentralized ecosystem. BinoFi’s utility could propel the ecosystem’s token value to 500%. The project’s utility gives it a first-to-market advantage making it more attractive to both retail and institutional market participants. BinoFi is unveiling a new crypto exchange whose features link decentralized exchanges with centralized exchange trading models. The DeFi protocol will launch the first-ever hybrid crypto exchange where retail and institutional traders can interact with crypto assets.
The protocol gives traders custody over their funds which is something that centralized exchanges don’t. Furthermore, traders will also capitalize on smart contract technology to execute their transactions.
On the other hand, institutional investors will enjoy deep liquidity pools similar to those exhibited by centralized exchanges for instant executions and enhanced bulk trading operations. The exchange capitalizes on internal liquidity pools and external APIs from partner exchanges to minimize slippage which could be costly during bulk trading operations.
BinoFi’s hybrid exchange allows cross-chain interoperability
BinoFi uses a hybrid liquidity engine that matches traders off-chain through its high-performance, low-latency order-matching engine. The off-chain match expedites trading activities to the millisecond-level executions. Once orders are matched, settlement occurs on-chain to enhance security, transparency, and decentralization.
All BinoFi users will enjoy cross-chain interoperability which enables direct trading of assets across different blockchains. The feature will eliminate the need for wrapped tokens and prevent market participants from using risky third party bridges.
The exchange will launch one of the most efficient gamified trading models that allows users to earn rewards through trading and leaderboard participation. The protocol also supports copy trading activities where new and inexperienced traders can mimic top-performing investors and earn passive income.
The protocol is also among the first exchanges to introduce automated trading solutions powered by artificial intelligence. The exchange has an AI trading engine that facilitates advanced executions to suit traders’ preference. The engine automatically routes the best liquidity source, performs high frequency trading on behalf of crypto traders and runs a risk analysis by detecting on-chain activity, news trends and social media. BinoFi is currently in presale with BINO tokens being sold fast at around $0.020, giving Web3 enthusiasts a chance to participate in the development of a revolutionary platform.
Learn more about BinoFi:
Website: https://binofi.com
Whitepaper: https://whitepaper.binofi.com
Telegram: https://t.me/binofilabs
Twitter: https://x.com/BinofiLabs
