A closely followed economist believes crypto and the US stock market are still poised to witness a massive upside move despite the latest correction. Henrik Zeberg tells his 147,900 followers on the social media platform X that it is not yet the time for crypto and stocks to collapse and enter a period of a …
Monthly archives: August 2024
Where are all the stablecoins?
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Trump reiterates support for Bitcoin during livestream with Adin Ross
Republican presidential nominee Donald Trump reiterated his support for Bitcoin and crypto during an interview with popular live streamer Adin Ross on Aug. 5. The former President reaffirmed statements made during his recent keynote at the Bitcoin2024 conference, saying that the US needs to foster innovation in the digital asset sector. He further stated that …
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Bitcoin ETFs daily trading volume surpasses $5 billion to hit 4-month high
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Fedwatch Tool and Polymarket Point to Highly Probable Rate Cuts by the Fed
Following the recent volatility in global equity markets, some analysts suggest that the U.S. Federal Reserve might implement an emergency rate cut before September. In addition, market predictions are leaning toward a rate cut at the September Federal Open Market Committee (FOMC) meeting. The key question is the extent of this cut. According to CME’s …
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Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking participation. These companies aim to facilitate transactions through the e-rupee. The initiative aims to boost transaction volumes by …
French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation
The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This regulation mandates prior authorization for market participants offering crypto asset services in the EU, with strict adherence to anti-money laundering, cybersecurity, and …
Wharton Professor Calls for Emergency Rate Cut Following Market Downturn
Jeremy Siegel, a finance professor and chief economist, has called for an emergency 75 basis point cut in the fed funds rate following a market downturn. He emphasized the necessity of this cut and suggested another rate cut next month to align with the Federal Reserve’s targets on inflation and employment. Siegel warned that failing …
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Market Panic: Bitwise CIO Reflects on Bitcoin’s Resilience Amid Market Turmoil
The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button for liquid assets during broad-based panics. But from my seat, today’s events play into the long-term story for …
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Clear Bearish Market Structure Flashing for SUI, NEAR and One Additional Altcoin, Says Crypto Analyst
A closely followed crypto strategist thinks three altcoins including the layer-1 project Sui (SUI) are in the midst of a clear downtrend. Pseudonymous analyst Altcoin Sherpa warns his 218,900 followers on the social media platform X that SUI, along with fellow smart contract platform Near (NEAR) and the AI-focused Artificial Superintelligence Alliance (FET) are trading …
Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000
Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, …
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BTC vs MPEPE: Top Analysts Compare Profit Potential Between Bitcoin (BTC) & New Cryptocurrency
Bitcoin (BTC) has long been the cornerstone of the cryptocurrency market, celebrated for its pioneering role in the digital asset space. As the first cryptocurrency, Bitcoin (BTC) has established itself as a store of value and a hedge against economic uncertainty. Historically, BTC has demonstrated significant volatility, with notable price surges and dips that have …
XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2
Ripple’s Q2 2024 market report recently highlighted a decline in a crucial on-chain metric that could significantly impact the the XRP price. This decline in network activity and several other factors threaten to send the crypto token to new lows soon enough. XRP Records Decline In On-chain Transactions According to the report, on-chain transactions on …
Bitcoin Price Analysis: What Lies On The Horizon After Crashing Below $50,000
The cryptocurrency market has been rocked by a massive sell-off, with the Bitcoin price plunging 26% from its July highs above $70,000. This dramatic decline comes amid a broader crash in global financial markets, reflecting growing economic uncertainty and investor risk aversion. Crypto Winter Returns? The crypto sphere was not spared from this turbulence, as …
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Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss
Cardano has been among the major coins that suffered miserably in the chaotic crypto market today: the token lost 30% in value in the last week. The broader market’s slip and crash are to be blamed for the token’s poor performance. Related Reading The past 24 hours remain bloody, with the total market cap facing …
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