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Cryptocurrencies Price Prediction: USD Coin, Ethereum & Bitcoin – European Wrap 11 January

Cryptocurrencies Price Prediction: USD Coin, Ethereum & Bitcoin – European Wrap 11 January
FXStreet TeamFXStreet TeamFXStreet

USDC stablecoin issuer Circle files for IPO in the United States; keeps statistics confidential

Circle Internet Financial, the company that issues the world's second-biggest stablecoin USDC (USD Coin), has reportedly filed for an initial public offering (IPO) in the United States. The information comes from Reuters, which reported that the company stated on Thursday that it had confidentially filed for the IPO.

While confirmation is awaited from Circle, per the report, the USDC issuer has revealed no details pertaining to the filing. The number of shares planned to sell, or the proposed price range are all being kept confidential for now. 

Ethereum Dencun testnet set to activate on January 17, ETH price eyes $3,000

Ethereum (ETH) developers said on Thursday that its Dencun upgrade, also called protodanksharding upgrade or EIP-4844, will be activated on the Goerli testnet on January 17. EIPs (Ethereum Improvement Proposals) implement upgrades on the existing chain, and the upcoming one is expected to reduce the Layer 2 transaction fees through the introduction of “data blobs.”

Tim Beiko, developer at the Ethereum Foundation announced in its X account that the Dencun upgrade will be activated on the Goerli testnet on January 17. This is an important upgrade to the Ethereum chain, considered one of the most important ones since the Merge. 

ETHUSDT

Elon Musk open to using Bitcoin on X, fueling hope among market participants

Ark Invest CEO Cathie Wood hosted a Spaces discussion on the latest developments in Bitcoin. Elon Musk joined the conversation and shared his views on BTC. The X owner is not opposed to the idea of using Bitcoin on the platform, however he considers it similar to Gold.

Bitcoin Spot ETF approval by the Securities and Exchange Commission (SEC) ushered in optimism among market participants. The CEO of Ark Invest, one of the issuers that welcomed the SEC approval, hosted a Space on X, where Woods was joined by X owner, Elon Musk. 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.