Cryptocurrencies Price Prediction: Shiba Inu & Bitcoin — Asian Wrap 22 August

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UK embraces stablecoin regulation, financial watchdogs wait and watch

UK’s crypto industry welcomed new stablecoin rules pending guidance from financial watchdogs. A proposed bill could clarify new powers vested in regulators over payments-focused crypto assets, stablecoins. Crypto regulation is a part of the UK government's post-Brexit economic strategy; therefore, the community is awaiting interpretation of new rules.

Three reasons why Shiba Inu has potential to beat the slump

Ethereum whales hold on to their Shiba Inu holdings worth over $163 million, fueling bullish sentiment among SHIB holders. Despite massive profit-taking when SHIB hit the $0.00001732, large wallet investors have a bullish outlook on the meme coin.

Ronin bridge attackers who fled with $625 million move funds to Bitcoin

Investigators have been tracking stolen funds from the Ronin bridge hack, through their journey from mixers to the Bitcoin network. An investigator presented his analysis to the crypto community, revealing the location of the stolen funds.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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