Bitcoin surpasses the $105,000 threshold after the U.S. and China have reportedly agreed to drastically roll back trade tariffs on each other’s goods for a 90-day period. According to a joint statement, the trade deal breakthrough came after a weekend-long…

Bitcoin surges past $105k on the heels of a U.S. and China trade deal

Hundreds of billions of dollars in cross-border cryptocurrency payments flow 
globally, primarily driven by speculative investment, according to a recent 
report by the Bank for International Settlements (BIS).
The BIS study, published May 8, found cross-border payments using the two 
largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH), and the two largest 
stablecoins, USDT (USDT) and USDC (USDC), totaled approximately $600 billion 
during the second quarter of 2024, the final observation period covered by the 
analysis.
&#8220;Our findings highlight speculative motives and global funding conditions as 
key drivers of native crypto asset flows,&#8221; the BIS stated.
_Cross-border crypto asset flows by quarter. Source: BIS_
However, the report also noted stablecoins and low-value Bitcoin transactions 
are frequently driven by practical use cases, particularly as alternatives to 
traditional remittances. The researchers pointed out that geographical 
barriers have less influence on cryptocurrency transactions compared to 
traditional financial systems.
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Speculative crypto activity remains tied to &#8220;global conditions for funding in 
major crypto markets,&#8221; signaling a growing &#8220;interconnectedness&#8221; between 
cryptocurrencies and the legacy financial system, the researchers stated, 
adding:
&gt; &#8220;Concurrently, we observe that tighter global funding conditions, known to 
&gt; curtail risk-taking in traditional asset classes, are associated with 
&gt; reduced flows. This indicates increasing interconnectedness between 
&gt; cryptoassets as speculative assets and mainstream finance.&#8221;
Additionally, crypto-specific risks and heightened public awareness 
significantly influence crypto investment flows, reinforcing their role as 
speculative assets, according to the BIS.
The findings were published nearly a month after the BIS warned that the 
number of investors and amount of capital in crypto and decentralized finance 
(DeFi) have &#8220;reached a critical mass,&#8221; posing a threat to financial stability 
and global wealth inequality, Cointelegraph reported on April 19.
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## Stablecoin, low-value Bitcoin payments fueled by fiat inflation, high 
transfer costs
Beyond speculative investment tools, stablecoins and Bitcoin are also used as 
a &#8220;transactional medium.&#8221;
&#8220;Higher opportunity costs of fiat currency usage, such as high inflation, spur 
bilateral cross-border transactions in both unbacked cryptoassets and 
stablecoins,&#8221; the BIS stated, adding:
&gt; &#8220;Likewise, greater economic activity within both sender and receiver 
&gt; countries is often linked to increased crypto flows in most cases.&#8221;
High remittance fees charged by traditional financial institutions further 
bolster crypto adoption for international money transfers, especially from 
developed economies to emerging markets, the report stated.
_Global USDT flow map. Source: BIS_
The US and the UK accounted for a cumulative 20% of cross-border payments 
using Bitcoin and USDC, and nearly 30% using ETH.
As for USDT, Russia and Turkey accounted for over 12% of the cross-border 
transactions using the world&#8217;s largest stablecoin.
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Crypto speculation dominates $600B cross-border payments: BIS report

South Korea&#8217;s central bank said it should have legal authority over the 
approval of won-based stablecoins, warning they could disrupt monetary policy 
if treated like legal tender. The Bank of Korea, South Korea&#8217;s central bank, 
said monetary authorities must be…

Bank of Korea urges authority over won-based stablecoin issuance: report

Digital asset investment products experienced its fourth consecutive week of 
inflows after seeing $882 million in gains last week, bringing its YTD inflows 
to $6.7 billion according to CoinShares. In the previous week, digital asset 
investment products recorded $882 million…

CoinShares: Digital asset funds saw fourth week of inflows with $882m

Bitcoin exchange-traded funds (ETFs) kept the inflow trend alive with $321 
million in net entries, driven primarily by Blackrock and Fidelity. Meanwhile, 
ether ETFs ended their three-day outflow streak with a modest $18 million 
inflow led solely by Blackrock. Bitcoin ETFs Continue to Bring in Strong 
Inflows With Ether ETFs Ending Losing Streak Momentum in […]

Blackrock Powers Bitcoin ETFs to $321 Million Inflow as AUM Climbs Past $121 Billion

Following the XRP price&#8217;s stellar performance in the current bull cycle, a 
crypto analyst has now predicted that the value of the third-largest 
cryptocurrency could soon soar to $10 or more in 2025. This bullish projection 
is backed by several key factors expected to drive strong demand and boost 
global adoption. Factors That Could Push XRP Price To $10 Unlike past cycles, 
when XRP pumped toward the tail end of the bull market, this time, it has 
emerged as one of the top-performing altcoins early on. Expanding on this 
impressive performance, X (formerly Twitter) crypto analyst and XRP supporter 
Edo Farina has shared a video analysis of the cryptocurrency, predicting the 
token’s potential price outlook and outlining different factors that could 
drive this surge. Related Reading: Analyst Says These Factors Will Drive XRP 
Price To $1,000, But What Does Market Cap Say? The analyst has highlighted the 
influence of Bitcoin Dominance (BTC.D), which he sees as a critical indicator 
for altcoin movements. According to him, BTC.D currently remains relatively 
high. However, historically, the dominance dropped from 40% to 30%, marking 
the onset of the altcoin season. This expected drop in Bitcoin&#8217;s Dominance 
could serve as the trigger for a broader altcoin market breakout, positioning 
the XRP price for a potential 4X rally from current levels. According to 
Farina, a 4X jump from $2.39 could easily propel XRP toward the $10 mark. Key 
to this optimism and bullish outlook is the recent resolution of the lawsuit 
between the US Securities and Exchange Commission (SEC) and Ripple. With legal 
battles seemingly behind it, XRP is no longer classified as a security in the 
US, giving Ripple the green light to offer the token to financial 
institutions. Farina has suggested that this newfound regulatory clarity is 
expected to bolster investor confidence and lay the groundwork for global 
adoption. Achieving a $10 price point will also require more than a shift in 
market sentiment. Farina explains that it will depend heavily on XRP’s 
integration into the global financial system. The analyst argues that XRP must 
become the cornerstone, especially in cross-border payments and Real World 
Asset (RWA) tokenization. Ripple has already taken significant steps in this 
direction, reportedly playing a role in the roll-out of the digital Euro. 
Ripple is also making strategic acquisitions, such as its acquisition of 
Hidden Road and the potential purchase of Circle, which could exponentially 
expand its influence in traditional finance. The analyst further notes that 
the possible launch of XRP ETFs could significantly impact the token’s price 
dynamics. If approved by the SEC and more ETFs hit the market, investor demand 
is expected to skyrocket, potentially driving prices toward or even beyond $10 
in 2025. How Much Will 1,000 XRP Be Worth In 2025? In his analysis, Farina 
estimated how much 1,000 XRP could be worth in 2025 if its price surges to $10 
and above. At $10, a modest holding of 1,000 XRP would be worth $10,000. 
Related Reading: XRP Price Still On Bullish Path To $5 As Long As This Level 
Holds If financial adoption accelerates as Farina projects, XRP could climb 
well beyond $10, potentially reaching $100. In that scenario, a 1,000 XRP bag 
could soar to $100,000 profit, potentially offering life-changing returns for 
long-term investors. Featured image from Getty Images, chart from 
Tradingview.com