Bitcoin Wobbles, Ethereum Stands Tall, and Tokenized Assets Take the Spotlight

Written by BTSE

October 12, 2023

As the day begins across Asia, Bitcoin (BTC) experienced some minor downward pressure as it broke below $27K – a point it hasn’t touched in around two weeks. On the other hand, Ethereum (ETH) has comfortably remained at $1.5K, following some turbulence last week.  


What to Watch Out for Today


Real USD’s Dramatic Dip: Real-World Asset Tokenization’s Vulnerability Exposed: Tangible’s Real USD (USDR) suffered a staggering 50% price drop in mere hours after a significant sum of redemptions were made through DAI, leaving it primarily backed by real estate. Notably, the project tokenizes tangible assets like real estate, gold, and even watches. Critics had previously flagged the potential vulnerability of such asset-backed tokens, emphasizing that while assets can be tokenized, it doesn’t necessarily guarantee liquidity. As Tangible scrambles to address the situation, it highlights a pivotal question: Can real-world assets ever truly bridge the liquidity gap in the world of crypto? 


JPMorgan Treads Blockchain Waters with First-Ever Tokenized Collateral Settlement: In a ground-breaking move, JPMorgan collaborated with BlackRock and Barclays, utilizing its Ethereum-based Onyx blockchain for a collateral settlement transaction. The fast-paced tokenization and subsequent transfer showcased the transformative capabilities of blockchain in traditional banking. Such ventures into the realm of digital assets pave the way for more streamlined, efficient financial operations. With such prominent financial institutions stepping into the arena, is this the dawn of a new era of tokenized traditional assets? 


Bitcoin Cash Rises in Liquidity Amid Price Tumble: Despite a 23% drop in its price during Q3, Bitcoin Cash (BCH) has surfaced as a beacon of liquidity in the crypto market. While other leading cryptos, including Bitcoin, remained stagnant, BCH’s market liquidity improved by over 10% in the last three months, according to crypto data provider Kaiko. It’s worth noting that liquidity is an essential aspect of any asset, indicating its ability to handle substantial buy and sell orders without major price disruptions – think Real USD’s struggles mentioned above. As Bitcoin Cash emerges as a contender in the liquidity race, it poses a pertinent question: Is BCH set to become a leading stablecoin choice for traders seeking stability in volatile times? 


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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