Connect with us

Crptocurrency

Monetary Authority of Singapore Launches Project Guardian

Published

on

[ad_1]

  • Monetary Authority of Singapore (MAS) launches Project Guardian with 17 institutions to advance asset tokenization.
  • Five pilots under Project Guardian explore digital asset trades and cross-border solutions.
  • MAS develops GL1 and INM for seamless global trading of tokenized assets, collaborating internationally.

The Monetary Authority of Singapore (MAS) has announced Project Guardian, a large-scale asset tokenization initiative. This new project, involving 17 key financial institutions, aims to catalyze the institutional adoption of digital assets, thereby enhancing the efficiency of financial markets and unlocking new investment opportunities.

Expanding Asset Tokenization Initiatives

Under Project Guardian, MAS has set in motion five additional industry pilots, each exploring various aspects of asset tokenization within the capital markets value chain. These pilots encompass a range of activities, including efficient mechanisms for pricing and executing bilateral digital asset trades, real-time post-trade reporting, and analytics.

Key financial institutions Citi, T. Rowe Price Associates, Inc., and Fidelity International will spearhead efforts to test institutional-grade processes for digital asset trades. BNY Mellon and OCBC Bank will trial a cross-border FX payment solution to establish secure, interoperable payment solutions across different networks.

Furthermore, Ant Group’s pilot will focus on a treasury management solution to enhance global liquidity management, leveraging their global treasury center in Singapore. Franklin Templeton is investigating the issuance of a tokenized money market fund through a Variable Capital Company (VCC) structure, utilizing digital asset networks.

J.P. Morgan and Apollo are also collaborating to use digital assets to invest and manage discretionary portfolios and alternative assets, focusing on automated rebalancing and customization at scale.

Additionally, MAS is initiating a new funds workstream within Project Guardian, centered on the native issuance of VCC funds on digital asset networks. This move aims to address various challenges in tax, policy, and legal domains while increasing distribution channels for asset managers.

Read Also: Nocturne Launches On Mainnet, Bringing Private Accounts To Ethereum

Forging A Global Digital Infrastructure For Tokenized Markets

MAS is taking a step further by collaborating with international policymakers and financial institutions, including BNY Mellon, DBS, JP Morgan, and MUFG, to develop an open digital infrastructure named Global Layer One (GL1). This initiative is designed to host tokenized financial assets and applications, enabling seamless cross-border transactions and trading across global liquidity pools in compliance with regulatory standards.

In conjunction with this, MAS is also developing an Interlinked Network Model (INM), a framework for exchanging digital assets across independent networks. This innovative model allows for transactions between financial institutions without the necessity of a shared network, enhancing operational flexibility and market reach.

The International Monetary Fund (IMF) has also joined Project Guardian’s policymaker group, which includes representatives from Japan, Switzerland, and the UK. Their participation brings an international perspective to the policies and legal issues surrounding cross-border platforms and the stability of the international monetary system.

Mr. Leong Sing Chiong, Deputy Managing Director (Markets and Development) at MAS, highlighted the successful demonstrations of Project Guardian’s industry pilots. According to him, these pilots have shown that tokenized financial assets like fixed income, foreign exchange, and asset management products can be effectively traded, distributed, and settled across borders. 

The establishment of GL1, he stated, will provide a foundational digital backbone to unite markets under principles of openness and accessibility. MAS invites additional policymakers and financial institutions to participate in the design phase of the GL1 initiative and contribute to its development.

[ad_2]

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crptocurrency

Binance Lists ChainGPT (CGPT): Unlocking a New Era for AI-Powered Blockchain Solutions

Published

on

By

[ad_1]








Binance Lists ChainGPT (CGPT): Unlocking a New Era for AI-Powered Blockchain Solutions – BitcoinWorld
































[ad_2]

Source link

Continue Reading

Crptocurrency

$88K Critical for Bitcoin Momentum

Published

on

By

[ad_1]

Bitcoin’s price trajectory is at a pivotal juncture, with $88,000 emerging as a key level for sustaining market momentum, according to on-chain analytics firm Glassnode. Using the UTXO Realized Price Distribution (URPD) metric, Glassnode emphasized the significance of the Short-Term Holder (STH) cost basis, noting minimal trading volume below this threshold.

The $88,000 level serves as a critical psychological and technical support, and a decisive loss could pave the way for further downside. This article explores the importance of this metric and what it could mean for Bitcoin’s future price movement.


Understanding Bitcoin’s STH Cost Basis

The Short-Term Holder (STH) cost basis represents the average price at which recently acquired Bitcoin has been purchased. This metric is essential for analyzing:

  • Price Momentum: Indicates the health of recent buyer confidence.
  • Support Levels: Highlights crucial price points where short-term investors are likely to defend positions.

At $88,000, the STH cost basis underscores its significance as a level where short-term traders might capitulate if breached, potentially triggering a larger sell-off.


The Role of the URPD Metric

Glassnode’s UTXO Realized Price Distribution (URPD) metric maps the distribution of Bitcoin trading volumes across different price levels. Key insights from the current analysis include:

1. Minimal Volume Below $88K

  • Glassnode’s data reveals limited trading activity beneath $88,000, suggesting weak historical support in this range.

2. Vulnerability to Downside Pressure

  • A breakdown below $88,000 could lead to accelerated selling, as short-term holders exit positions to minimize losses.

Why $88K Is Critical for Bitcoin

1. Psychological Benchmark

  • Round numbers like $88,000 hold psychological significance for traders, influencing decision-making and market sentiment.

2. Technical Relevance

  • The STH cost basis aligns closely with support and resistance levels derived from historical price action, making it a reliable marker.

3. Momentum Indicator

  • Holding above $88,000 would demonstrate resilience, while a breach could signal a shift in momentum toward bearish conditions.

Potential Scenarios Based on $88K Level

1. Holding Above $88K

  • Sustaining this level could reaffirm Bitcoin’s bullish momentum, encouraging accumulation by both short-term and long-term holders.
  • Positive macroeconomic news or institutional support could bolster price stability.

2. Breaching $88K

  • A decisive loss of $88,000 might lead to panic selling, increasing volatility and pushing Bitcoin toward lower support levels.
  • Traders may target $85,000 or lower as the next critical support zone.

Market Sentiment and Influences

1. Institutional Activity

  • Institutional investors closely monitor key levels like $88,000, adjusting strategies based on market strength or weakness.

2. Broader Economic Factors

  • Macroeconomic elements, including interest rate policies and inflation data, continue to impact risk assets like Bitcoin.

3. Short-Term Trader Behavior

  • As the primary holders at this cost basis, short-term traders play a pivotal role in determining Bitcoin’s near-term price movements.

How Traders Can Respond

1. Monitor Key Levels

  • Keep a close watch on Bitcoin’s behavior around $88,000, as this level is crucial for gauging momentum.

2. Set Stop Losses and Alerts

  • Traders should establish clear stop-loss levels to minimize risk in case of a breakdown.

3. Consider Accumulation Opportunities

  • If Bitcoin holds above $88,000, it could present a buying opportunity for those confident in a bullish continuation.

FAQs

1. Why is $88,000 significant for Bitcoin?
The $88,000 level represents the Short-Term Holder (STH) cost basis, a critical indicator of price momentum and market confidence.

2. What happens if Bitcoin drops below $88,000?
A loss of this level could trigger selling pressure, as short-term holders exit positions, potentially leading to further downside.

3. What is the URPD metric?
The UTXO Realized Price Distribution (URPD) metric tracks Bitcoin’s trading volume at different price levels, highlighting key areas of support and resistance.

4. How does $88K influence market sentiment?
Maintaining this level reinforces confidence in the market’s bullish momentum, while losing it could shift sentiment toward bearish expectations.

5. What should traders do at this level?
Traders should monitor Bitcoin’s performance around $88,000, set stop-loss levels, and consider accumulation if the level holds.


Conclusion

The $88,000 level is more than just a price point; it’s a pivotal marker for Bitcoin’s momentum and market sentiment. Glassnode’s analysis underscores its significance as the Short-Term Holder cost basis, with the potential to dictate Bitcoin’s next move.

Whether Bitcoin sustains this critical level or breaches it will determine its trajectory in the coming weeks. For traders and investors, staying vigilant and adapting strategies to this key metric will be essential in navigating Bitcoin’s dynamic market.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential.

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

[ad_2]

Source link

Continue Reading

Crptocurrency

Mantra Partners with UAE Real Estate Giant Damac to Tokenize $1B in Assets

Published

on

By

[ad_1]









Mantra Partners with UAE Real Estate Giant Damac to Tokenize $1B in Assets – BitcoinWorld
































[ad_2]

Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.