🔥 Key Takeaways
- Ripple’s USD stablecoin burns $21,804,950 from circulation, signaling a potential move to maintain stability and control inflation.
- Bitcoin price prediction model suggests a strong possibility of reaching $100,000 in January, driven by institutional interest and macroeconomic factors.
- Bitwise files for a Zcash (ZEC) ETF, positioning the cryptocurrency for potential mainstream adoption and increased liquidity in 2026.
Morning Crypto Report: Ripple USD Stablecoin Deletes $21,804,950 From Circulation, $100,000 for Bitcoin in January Not Surreal, Bitwise Files for ETF on Zcash (ZEC)
New Year’s Eve opens with significant developments in the cryptocurrency space, as Ripple continues its efforts to maintain the stability of its USD stablecoin, Bitcoin price models predict a bullish January, and Bitwise takes a significant step towards mainstream adoption of Zcash (ZEC).
Ripple’s USD Stablecoin Burns $21,804,950
In a notable move, Ripple has deleted a substantial amount of its USD stablecoin from circulation, totaling $21,804,950. This action is part of Ripple’s ongoing strategy to manage the supply of its stablecoin, ensuring it remains stable and trustworthy. The burn mechanism helps to counteract inflation and maintain the peg to the US dollar, which is crucial for maintaining user confidence in the stablecoin.
This development comes at a time when stablecoins are under increased scrutiny from regulatory bodies. By proactively managing its stablecoin supply, Ripple is demonstrating its commitment to transparency and regulatory compliance, which could be a significant advantage in the competitive stablecoin market.
Bitcoin Price Prediction Points to $100,000 in January
The new year begins with a bullish outlook for Bitcoin, as price prediction models suggest the possibility of reaching $100,000 in January. This optimistic forecast is driven by several factors, including growing institutional interest, macroeconomic conditions, and the continued adoption of Bitcoin as a store of value.
Institutional investors are increasingly allocating a portion of their portfolios to Bitcoin, recognizing its potential as a hedge against inflation and economic uncertainty. The ongoing quantitative easing policies and low-interest rates in many economies are also contributing to the positive sentiment around Bitcoin. As more institutions and retail investors enter the market, the demand for Bitcoin is expected to rise, potentially driving the price to new heights.
Bitwise Files for Zcash (ZEC) ETF in 2026
In a move that could significantly impact the future of Zcash (ZEC), Bitwise has filed for an ETF (Exchange-Traded Fund) on the cryptocurrency, with an eye on 2026. This filing is a crucial step towards bringing Zcash into the mainstream investment landscape, potentially increasing its liquidity and visibility among a broader audience of investors.
Zcash is known for its privacy features, which have made it a popular choice among users concerned with maintaining their financial privacy. However, the lack of a dedicated ETF has limited its exposure to institutional investors. By filing for an ETF, Bitwise is positioning Zcash to attract more institutional interest, which could lead to greater adoption and a more stable price environment.
The move by Bitwise also reflects the growing trend of crypto ETFs, which have become increasingly popular as a way for investors to gain exposure to cryptocurrencies without the need to directly manage digital assets. As the regulatory environment continues to evolve, more ETFs are likely to be approved, opening up new opportunities for both retail and institutional investors.