Market
Will Ripple (XRP) get an ETF? Crazy days ahead for Ethereum, Rexas Finance (RXS) could shake up RWAs
The cryptocurrency market is anything but quiet, with constant developments keeping everyone on their toes. Recently, exciting news has emerged for major players like Ripple (XRP), Ethereum (ETH), and a new player, Rexas Finance (RXS). Some experts believe Ripple is on the verge of a potential ETF launch, while Ethereum continues its rollercoaster ride, eyeing the $4,100 mark. Meanwhile, Rexas Finance is stealing the show with its potential to disrupt traditional real estate and real-world asset (RWA) investments. Let’s dive into the opportunities and challenges these three projects face.
Is there a possibility that ripple (XRP) will get an ETF?
And so the whispers begin, and the Ripple community is restless thinking: Will Ripple be next to get an ETF? With the imminent launch of the first US XRP trust by Grayscale, it is looking more and more likely.
An ETF for Ripple would be an important development, providing the opportunity to get exposure to XRP for investors if they don’t want to buy or keep the token in their wallets. This could bring in more liquidity, increased trading activity, and a rise in the price of Ripple. Though as of now an ETF is by no means guaranteed, Grayscale’s step indicates that the time when XRP is seen being launched on traditional exchanges as a part of an ETF might not be very far off.
Crazy days ahead for Ethereum (ETH)?
Ethereum (ETH) has witnessed both the bull and the bears, but the question that still lingers is: Is that moment where ETH breaches the $4,100 price level finally going to happen?
For the third time, investors have tried to breach this level only to be shut down once more making investors question if this crucial resistance barrier is one that ETH has to power through. Presently trading at $2,639, Ethereum has had a turbulent as well as exhilarating trip. Should it clear the $4,100 resistance level, the floodgates may burst wide open for profits; however, every rejection risks turning sentiment bearish instead. At the same time, Ethereum still stands out as one of the most attractive assets in the crypto world and many say that it is just a matter of time before this ETH psychological barrier is overcome.
Rexas Finance (RXS) preparing to revolutionize real estate investments
Finally we come to Rexas Finance (RXS), which has already gained traction even at its presale stage and could be on track to change the way we view investments in RWA. Consider buying a slice of a swanky apartment in Paris or a vacation home on the Caribbean Sea without ever leaving your house. That is what Rexas Finance is providing—a platform to invest in real estate all over the globe, be it complete real estate or only a portion which depends on how much one wishes to invest.
In the presale stage 3, Rexas Finance is currently valued at $0.050 having increased by 66.7% from $0.030, the price in stage 1. As the project goes to the next listing price of $0.20, the earliest investors are already looking at an opportunity to make a 300% growth by the time the project is finally launched.
What makes Rexas Finance unique is the fact that its concept of fractional ownership of real-world assets such as real estate, commodities, and even art, lets investors own and trade slices of these asset classes in the form of the token with the use of blockchain technology. Anyone can use Rexas Finance to invest in high-culture housing activities without quitting his or her job. This democratizes real estate investment since all people who wish to take risks on the economy can do so even when they don’t have enough money to purchase whole buildings.
The expansion of Rexas Finance is not narrative for narrating’s sake; it’s firmly grounded in utility. This project seeks to open up the $280 trillion global real estate market by making this traditionally difficult-to-invest asset class liquid and accessible to the average person.
Conclusion: There is a bright future ahead
Be it Ripple (XRP) making waves with the bullish outlook of an ETF coming, Ethereum (ETH) being quite volatile, or Rexas Finance (RXS) changing the perspective of how we invest in tangible assets – the prospects of crypto are exhilarating. Rexas Finance however presents something completely new – it enables everybody in the world to invest in properties irrespective of their location while the battles of Ripple and Ethereum continue in the high-stakes market.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
Market
Polymarket Faces Ban in France as US Election Betting Ends
According to a report from The Big Whale, the National Gaming Authority (ANJ), France’s gambling regulator, is preparing to block the prediction markets platform Polymarket.
Polymarket, the decentralized platform that allows users to bet on the outcome of political events, sports, and other occurrences using cryptocurrency, has gained popularity in recent months, especially with bets surrounding the US presidential election. More than $3.2 billion was reportedly wagered on the platform during this high-stakes period, with a record-breaking $294 million in volume on November 5 alone.
France Users May No Longer Access Polymarket
According to The Big Whale, a French website that covers the crypto industry, the ANJ’s impending ban comes after a French trader placed a $30 million bet on a Trump victory, reportedly attracting the regulator’s scrutiny.
The trader’s wager positioned him to make approximately $19 million in profits, a sum that has intensified concerns over Polymarket’s compliance with French gambling laws. A source close to the ANJ stated that despite Polymarket’s use of blockchain and cryptocurrency, its activities are akin to gambling, making it subject to restrictions under French law.
“We are aware of this site and we are currently examining its operation as well as its compliance with French gambling legislation,” The Big Whale reported, citing an ANJ spokesperson.
Read more: What is Polymarket? A Guide to The Popular Prediction Market
Legal expert William O’Rorke from ORWL Avocats explained that although Polymarket does not specifically target French users, its activities fall squarely under gambling regulations.
“Polymarket involves betting money on uncertain outcomes, which aligns with the legal definition of gambling,” O’Rorke noted.
Against this backdrop, the ANJ is well within its mandate to block the platform’s access in France. Accordingly, the French regulator may enforce the ban by blocking Polymarket’s domain name in France. It amy also pressure third-party players, like media outlets and online directories, to limit access to Polymarket links.
However, French users may still circumvent this by using virtual private networks (VPNs). This is because Polymarket’s crypto-based infrastructure allows for relatively anonymous participation.
France’s looming ban is not the first regulatory roadblock Polymarket has encountered. In 2022, the US Commodity Futures Trading Commission (CFTC) fined Polymarket $1.4 million for failing to register as a designated contract market. The CFTC also challenged Kalshi’s operations due to questions about betting on political events.
Polymarket’s Fate After US Elections
Meanwhile, the US election was a significant catalyst for Polymarket. It drove the platform to new heights in user engagement and bet volume. Polymarket’s election-related markets have been featured on major financial platforms, including Bloomberg, highlighting the platform’s appeal to mainstream finance.
As BeInCrypto reported, Polymarket’s election betting topped $3 billion, reflecting unprecedented participation. The platform, however, faces a crossroads in its path forward. Following the climax of the US election on Wednesday, data from Dune Analytics shows a steep decline in Polymarket’s activity.
Daily active addresses and transaction volumes, which soared in the election lead-up, have notably dwindled as election-related betting winds down. For instance, Polymarket’s open interest, a key indicator of active betting engagement, dropped from $350 million to $268 million after the polls closed. Similarly, monthly new accounts have also dropped by over 41% between October and November.
Against this backdrop, Polymarket may need to diversify its market offerings or potentially embrace a new model to maintain user interest. This is considering election-related activity comprised the majority of the prediction market’s volume.
Rumors are circulating about a potential move toward a decentralized governance token, which could distribute control over Polymarket’s operations to its community. This shift would reduce the liability of the central authority by decentralizing decision-making, though it remains theoretical, with no clear timeline.
Read More: How To Use Polymarket In The United States: Step-by-Step Guide
Polymarket’s fast ascent and regulatory challenges highlight broader industry tensions between innovation and compliance. With election predictions no longer a draw and an impending ban in France, Polymarket’s future remains uncertain.
Its long-term viability may depend on how well it adapts to evolving regulatory landscapes and whether it can maintain popularity beyond election season peaks.
Disclaimer
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Market
XRP Price Ready to Rally? Signs Point to a Bullish Move
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Market
Solana (SOL) Rallies Strongly, Setting Sights on $200
Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level.
- SOL price started a fresh increase after it settled above the $165 level against the US Dollar.
- The price is now trading above $172 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could continue to rise if it clears the $192 resistance zone.
Solana Price Starts Fresh Rally
Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels.
There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high.
Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level.
The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level.
Another Dip in SOL?
If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level.
A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $188 and $185.
Major Resistance Levels – $192 and $200.
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