Pakinomist – Check out Pakinomist’s top three news over the past 24 hours.
JPMorgan: XRP ETF Could Attract $8 Billion
According to a recent prediction by JPMorgan, a spot-based XRP ETF could attract inflows between $3 billion and $8 billion, based on the performance of and ETFs launched last year. Currently, ETF assets represent approximately 8% of Bitcoin’s market capitalization, while Ethereum ETFs have a lower penetration rate of around 3%. As reported by Pakinomist, Monica Long has expressed optimism that XRP will be the next cryptocurrency to receive ETF approval after Bitcoin and Ethereum. Several firms, including Bitwise and WisdomTree, are competing to launch an XRP ETF in the US, with analysts predicting approval this year. Last week, Nate Geraci, one of the top ETF analysts, issued a forecast suggesting that a spot XRP ETF is likely to be approved this year.
Three Bitcoin Price Scenarios That Could Shape 2025 Revealed by Peter Brandt
The start of 2025 has not been favorable for the crypto market, especially for Bitcoin, which has failed to break out to a new record high. Instead, it has formed a head and shoulders pattern, a formation that is ominous in that, after the second shoulder is formed, the price of the asset can fall below the neckline and pull down by as much as the head was worth. In his latest X post, legendary trader Peter Brandt outlined three possible outcomes for Bitcoin’s price: a drop to around $76,000, the formation of a “bear trap” leading to a short squeeze, or the development of a larger, more complex pattern. Brandt emphasizes that while patterns can provide insight, they are not set in stone, and the current market uncertainty reflects the challenges even experienced traders face when predicting Bitcoin’s trajectory.
480 billion PEPE transferred in hours; What is happening?
According to data from the Spot On Chain X account, yesterday PEPE attracted significant attention from crypto whales with 480 billion tokens bought in a short period of time. As seen in the X post, two major whales have made significant investments in PEPE; a whale pulled 280 billion tokens worth approximately $5 million from Binance. Another whale, despite previously losing $1.45 million on PEPE, has invested 3.72 million USDC to acquire 200.4 billion seed-themed tokens in hopes of a potential price rebound. Meanwhile, PEPE is ready to increase its presence in the Japanese market; on January 9, Binance Japan announced the listing of PEPE, now offering Pepe (PEPE) in spot trading. At the time of writing, PEPE is changing hands at $0.00001736, up 4.48% over the last 24 hours, per CoinMarketCap.
