Streamlined SRT process aims to optimize capital management while ensuring resilience The European Central Bank (ECB) is set to accelerate the approval process for Significant Risk Transfers (SRTs) , a move designed to improve capital efficiency for banks while maintaining financial stability. The ECB’s pilot program, scheduled to begin in early 2025 , will simplify procedures and reduce approval timelines, aligning with the growing demand for efficient capital allocation across European lenders. What’s Changing? The ECB, in collaboration with the European Banking Federation , is introducing a pilot program to shorten the SRT approval process. The notification period for SRT transactions will be reduced from three months to two weeks before deal finalization. The information submission requirements will be streamlined to ease regulatory burdens for banks. These changes are expected to make SRT transactions more attractive , all...
As the cryptocurrency market navigates the impact of inflation data and shifting Federal Reserve expectations, altcoins are emerging as standout performers. Here's what you need to know about the current market trends and top gainers.
Cryptocurrency Market Snapshot (as of 7:30 p.m. ET):
- Bitcoin (BTC): Dropped 0.59% to $100,315.71, after briefly hitting $102,250 earlier in the day before a sharp sell-off.
- Ethereum (ETH): Climbed 1.89% to $3,900.97, maintaining upward momentum.
- Dogecoin (DOGE): Slid 0.80% to $0.4088.
What Happened:
- Bitcoin's early surge followed President-elect Donald Trump’s positive remarks about cryptocurrencies, but profit-taking reversed the gains.
- Ethereum showed resilience, hitting an intraday high of $3,986 before settling lower.
- Liquidations in the cryptocurrency market exceeded $318 million in the past 24 hours, with $200 million in long positions erased.
Top Altcoin Performers:
- Aave (AAVE): Jumped 21.61% to $367.57.
- Chainlink (LINK): Rose 20.96% to $29.13.
- Lido DAO (LDO): Gained 18.04% to $2.25.
Market Sentiment and Trends:
- The Cryptocurrency Fear & Greed Index dipped from 83 to 76, signaling cooling sentiment but still within "Extreme Greed."
- Total market capitalization contracted slightly by 0.24% to $3.6 trillion, highlighting a mix of consolidation and selective bullish momentum.
Insights from Analysts:
- Chris Kline, COO of BitcoinIRA, noted that persistent inflation and dollar strength continue to drive market volatility. He also highlighted the impact of MicroStrategy’s Nasdaq 100 inclusion and pro-crypto policy signals from the incoming administration.
- Michaël van de Poppe, a widely followed crypto analyst, observed a bullish divergence in the altcoin market, predicting a strong upward trajectory. "We’re likely making a higher low here. Onwards and upwards," he stated.
Broader Market Context:
- Stock markets faced pressure as the Producer Price Index (PPI) rose 0.4% in November, exceeding forecasts of 0.2%.
- The Dow Jones fell 0.53%, while the S&P 500 and Nasdaq Composite dropped 0.54% and 0.66%,respectively.
- Traders adjusted Federal Reserve expectations, pricing a 96.4% chance of a 25 basis point rate cut next week, slightly lower than earlier predictions.
Outlook:
With the altcoin market showing signs of recovery and strong fundamentals driving select cryptocurrencies, investors are watching closely for continued growth. As pro-crypto policies gain traction and the market evolves, altcoins may lead the charge into 2025.
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