INXD Continues Climbs Amidst PYUSD Launch, Banking Losses
When markets opened on Tuesday morning, sentiment was soured by Moody's placing the credit ratings of six large US banks under review. This news made investors anxious about the overall health of the banking industry, and as a result, stock prices went down, especially for Wells Fargo (NYSE: WFC), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC), which saw drops of 1.3%, 0.6%, and 1.9% respectively. This drop in both banking stocks as well as US market indices made investors take a closer look at what was going on in the crypto market. With the ongoing battle between regulatory bodies like the SEC vs major exchanges like Coinbase and Binance, investors are thinking twice about the inherent value of a regulated approach to DeFi. That’s when some movement was detected on INX stocks, with NEO’s INXD surging by 8.8% and its OTC ticker INXDF skyrocketing by an impressive 32.88%
In my opinion cryptocurrencies are often considered a hedge against inflation, safeguarding against the erosion of consumer and investor purchasing power during periods of rising interest rates. Amid global economic uncertainty alongside the ongoing fight in US courts regarding regulatory compliance for leading crypto exchanges, fully regulated services are now starting to be demanded within the industry. This alone could be one of the catalysts that has contributed to INX’s ongoing gains over recent weeks.
In addition to the injection of some bearish sentiment into the market due to Moody’s announcement, PayPal's introduction of the stablecoin PYUSD has reverberated throughout the cryptocurrency landscape. Notably, this casts a positive light on the prospects for INX. The launch of a stablecoin by a mainstream FSIB company like PayPal underlines the increasing emphasis on legal compliance and regulatory adherence within the crypto market.
So on one hand, Paypal launching PYUSD and the regulation battle play directly into the strengths of INX, positioning it as a frontrunner in offering regulated and compliant crypto services. By already adhering to these regulatory standards, INX stands to benefit from the growing demand for trustworthy and legally compliant crypto platforms, elevating its appeal as a secure avenue for both retail and institutional investors looking to participate in the evolving crypto landscape.
In addition, last week Zacks SCR published an analyst report for INXDF in which they wrote: “we want to reiterate that we believe this market that INX has a developed, regulated platform for, is on the cusp of exploding” before saying that INX’s sp has >100% upside over a 12-month horizon. This aggressive PT takes into consideration the fact that Republic Group invested $5.25 million in INX at an approximate $50 million pre-money valuation, with talk of a potential 100% acquisition with a $120 valuation ceiling on the table.
In conclusion, it is clear that a big sector of the crypto market is being attracted to a new way of doing things, a way in which regulatory compliance play a role both in protecting investors and making sure that no illegal transactions are being made under the SEC’s nose while their hands are tied on their backs. This doesn’t mean that INX’s sp will continue to rise indefinitely, but the several catalysts that happened in the last couple of months have for sure impacted the value of both their tickers and they are setting an uptrend that in my opinion, is just getting started.
In my opinion cryptocurrencies are often considered a hedge against inflation, safeguarding against the erosion of consumer and investor purchasing power during periods of rising interest rates. Amid global economic uncertainty alongside the ongoing fight in US courts regarding regulatory compliance for leading crypto exchanges, fully regulated services are now starting to be demanded within the industry. This alone could be one of the catalysts that has contributed to INX’s ongoing gains over recent weeks.
In addition to the injection of some bearish sentiment into the market due to Moody’s announcement, PayPal's introduction of the stablecoin PYUSD has reverberated throughout the cryptocurrency landscape. Notably, this casts a positive light on the prospects for INX. The launch of a stablecoin by a mainstream FSIB company like PayPal underlines the increasing emphasis on legal compliance and regulatory adherence within the crypto market.
So on one hand, Paypal launching PYUSD and the regulation battle play directly into the strengths of INX, positioning it as a frontrunner in offering regulated and compliant crypto services. By already adhering to these regulatory standards, INX stands to benefit from the growing demand for trustworthy and legally compliant crypto platforms, elevating its appeal as a secure avenue for both retail and institutional investors looking to participate in the evolving crypto landscape.
In addition, last week Zacks SCR published an analyst report for INXDF in which they wrote: “we want to reiterate that we believe this market that INX has a developed, regulated platform for, is on the cusp of exploding” before saying that INX’s sp has >100% upside over a 12-month horizon. This aggressive PT takes into consideration the fact that Republic Group invested $5.25 million in INX at an approximate $50 million pre-money valuation, with talk of a potential 100% acquisition with a $120 valuation ceiling on the table.
In conclusion, it is clear that a big sector of the crypto market is being attracted to a new way of doing things, a way in which regulatory compliance play a role both in protecting investors and making sure that no illegal transactions are being made under the SEC’s nose while their hands are tied on their backs. This doesn’t mean that INX’s sp will continue to rise indefinitely, but the several catalysts that happened in the last couple of months have for sure impacted the value of both their tickers and they are setting an uptrend that in my opinion, is just getting started.