The ticker symbol "BTCO" for Invesco and Galaxy's spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust and Clearing Corporation (DTCC) website. This is a step forward in their application process, but it doesn't guarantee future approval. The DTCC often adds securities to its list in preparation for ETF launches. The joint spot Bitcoin ETF application by Invesco and Galaxy Digital was reactivated in June, following a surge in similar filings prompted by BlackRock's application for a spot Bitcoin ETF on June 15.
XRP:
Experiences a Sudden 6% Price Surge XRP, which showed signs of a slowdown earlier today, has unexpectedly surged in price. Currently, the digital currency has risen by 6%, bouncing back from its 24-hour low of $0.5823 to its current level of $0.601. This surge has extended XRP's lead in terms of price gains over the past seven days, with a notable increase of 9.77%. XRP has consistently maintained its trading volume throughout October, with a total trading volume of $2,320,662,076 XRP, representing a 38% growth rate. Binance has recorded the highest XRP trading volume, totaling $379,948,931, marking a 16% increase. Several factors contribute to this sudden price revival. The XRP community is currently optimistic due to a series of reward campaigns initiated by Ripple's ally, Uphold, and the legal victory regarding XRP's status in the US. Additionally, the release of 1 billion XRP from escrow by Ripple Labs Inc. has increased the circulating supply of XRP. However, it also demonstrates Ripple's commitment to managing the XRP supply. The launch of Xahau, the XRPL sidechain, has further boosted confidence in XRP. Xahau passed a comprehensive code audit and highlights the versatility of the XRP Ledger and its potential for increasing XRP's utility in the future.
Safemoon:
Is SafeMoon's Future Promising? SafeMoon has recently released a new wallet update, version 3.50, on October 31, 2023. This update includes the ability for users to send and receive Cardano's ADA in the multi-coin menu, along with UI improvements and a new dApp. SafeMoon has also restructured its notification system. This announcement has caused a positive reaction in SafeMoon's token price, which increased by more than 5.5% in the past 24 hours, currently standing at $0.00020623, just below its July high of $0.00021663. However, SafeMoon still faces challenges. Despite ongoing efforts to address issues, its future remains uncertain. The token's price is still significantly down from its all-time high, nearly 94% in the red. Concerns persist regarding SafeMoon's tokenomics and its lack of a clear use case. Nonetheless, SafeMoon has continued to provide updates and legal victories, such as the voluntary termination of a class-action lawsuit filed in May 2022. The outlook for SafeMoon remains uncertain.
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