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What Will Be The Future of Bitcoin?
BTC’s Future in Focus: 4 Key Factors That Could Drive or Stall Its 2024 Rally
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserve’s next meeting. With numerous developments, including rising tensions in the Middle East, a variety of factors could either fuel or stall bitcoin’s bull run. Here’s a breakdown of the four key issues that could shape BTC prices in the coming months.
Bitcoin’s 2024 Outlook and Events That Could Shape The Rest of the Year
At the moment, crypto enthusiasts are left guessing whether BTC’s bull run will hold strong or fizzle out for the remainder of 2024. Traditionally, bitcoin performs well in the final quarter of the year. However, September defied expectations, and October kicked off as “Downtober” instead of the much-anticipated “Uptober,” reminding everyone that past patterns don’t guarantee future results. Some in the crypto community are feeling gloomy, believing the bull run might have reached its end.
On the flip side, others liken BTC to a beach ball pushed just below the water’s surface, teetering under its all-time high of $73K, and ready to spring upward, potentially hitting new price highs. Presently, several developments could affect bitcoin’s price going forward in 2024 and many crypto market participants will be monitoring these events to see whether or not they will cause fluctuations in BTC’s value.
The U.S. Election
Many crypto market watchers are buzzing about the potential impact of the 2024 U.S. election between Kamala Harris and Donald Trump. However, plenty of cryptocurrency investors and analysts are convinced that bitcoin prices will rise in 2024, regardless of who takes the White House, although short-term price swings are expected around the election. Financial heavyweight Standard Chartered predicts BTC could reach $125,000 under a Trump administration, while a Harris presidency might see it hit $75,000. Meanwhile, brokerage and research firm Bernstein suggests Trump could drive BTC to $90,000, but under Harris, bitcoin might dip to $35,000.
The Fed’s Federal Open Market Committee Meetings
Many investors and analysts anticipate that potential interest rate cuts by the U.S. Federal Reserve could give bitcoin a boost, and for good reasons. Lower rates typically make borrowing more affordable, increasing liquidity in financial markets and prompting investors to chase higher returns in riskier assets like cryptocurrencies. Bitcoin, often viewed as a risk-on asset, tends to thrive in periods of loose monetary policy. The Federal Reserve has two remaining Federal Open Market Committee (FOMC) meetings for 2024: one on Nov. 8 and the final one on Dec. 18.
War and Tensions in the Middle East
The Middle East is currently facing escalating tensions following a string of hostile events. On Tuesday, Iran launched a direct military assault on Israel, using both missiles and drones. G7 leaders swiftly condemned the attack, calling it a grave threat to the region’s stability. This incident has intensified the ongoing conflict between Israel and Hezbollah in Lebanon, stirring fears of a broader war in the area.
Israel has vowed to retaliate, increasing investor caution and pushing markets from a risk-on to a risk-off stance. Historically, during times of geopolitical turmoil, investors shy away from riskier assets. This cautious shift often results in a sell-off in assets like cryptocurrencies as traders move their funds into traditionally safer havens. The latest missile strikes by Iran caused bitcoin to drop below $60,500.
Bitcoin ETF Options
Bitcoin ETF options could present several benefits for BTC prices, including improved price discovery, greater institutional participation, and expanded hedging opportunities. The launch of options tied to bitcoin ETFs can notably boost market liquidity. By allowing traders to take more strategic positions, options attract a broader spectrum of investors. This influx of activity can increase trading volumes, driving demand for the underlying bitcoin ETFs and, by extension, BTC itself. Options also provide leverage, enabling investors to gain exposure to larger amounts of bitcoin with less capital upfront. This leverage can amplify market movements, potentially leading to stronger price gains when sentiment is favorable.
Balancing Immediate Market Fluctuations with Long-Term Growth Potential
As the year progresses, bitcoin’s trajectory remains uncertain, swayed by external forces such as geopolitical instability and shifts in financial policy. Market participants are closely monitoring these variables, recognizing that bitcoin’s future performance hinges not just on historical trends but also on the evolving global landscape. The culmination of these events will likely dictate the market’s direction.
With both optimism and skepticism surrounding bitcoin’s potential, the crypto community faces a pivotal period. Investors are left weighing short-term volatility against long-term growth prospects, aware that decisions made now could shape the asset’s future in an unpredictable 2024 market.
#Bitcoin #BTC #Crypto #binance
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserve’s next meeting. With numerous developments, including rising tensions in the Middle East, a variety of factors could either fuel or stall bitcoin’s bull run. Here’s a breakdown of the four key issues that could shape BTC prices in the coming months.
Bitcoin’s 2024 Outlook and Events That Could Shape The Rest of the Year
At the moment, crypto enthusiasts are left guessing whether BTC’s bull run will hold strong or fizzle out for the remainder of 2024. Traditionally, bitcoin performs well in the final quarter of the year. However, September defied expectations, and October kicked off as “Downtober” instead of the much-anticipated “Uptober,” reminding everyone that past patterns don’t guarantee future results. Some in the crypto community are feeling gloomy, believing the bull run might have reached its end.
On the flip side, others liken BTC to a beach ball pushed just below the water’s surface, teetering under its all-time high of $73K, and ready to spring upward, potentially hitting new price highs. Presently, several developments could affect bitcoin’s price going forward in 2024 and many crypto market participants will be monitoring these events to see whether or not they will cause fluctuations in BTC’s value.
The U.S. Election
Many crypto market watchers are buzzing about the potential impact of the 2024 U.S. election between Kamala Harris and Donald Trump. However, plenty of cryptocurrency investors and analysts are convinced that bitcoin prices will rise in 2024, regardless of who takes the White House, although short-term price swings are expected around the election. Financial heavyweight Standard Chartered predicts BTC could reach $125,000 under a Trump administration, while a Harris presidency might see it hit $75,000. Meanwhile, brokerage and research firm Bernstein suggests Trump could drive BTC to $90,000, but under Harris, bitcoin might dip to $35,000.
The Fed’s Federal Open Market Committee Meetings
Many investors and analysts anticipate that potential interest rate cuts by the U.S. Federal Reserve could give bitcoin a boost, and for good reasons. Lower rates typically make borrowing more affordable, increasing liquidity in financial markets and prompting investors to chase higher returns in riskier assets like cryptocurrencies. Bitcoin, often viewed as a risk-on asset, tends to thrive in periods of loose monetary policy. The Federal Reserve has two remaining Federal Open Market Committee (FOMC) meetings for 2024: one on Nov. 8 and the final one on Dec. 18.
War and Tensions in the Middle East
The Middle East is currently facing escalating tensions following a string of hostile events. On Tuesday, Iran launched a direct military assault on Israel, using both missiles and drones. G7 leaders swiftly condemned the attack, calling it a grave threat to the region’s stability. This incident has intensified the ongoing conflict between Israel and Hezbollah in Lebanon, stirring fears of a broader war in the area.
Israel has vowed to retaliate, increasing investor caution and pushing markets from a risk-on to a risk-off stance. Historically, during times of geopolitical turmoil, investors shy away from riskier assets. This cautious shift often results in a sell-off in assets like cryptocurrencies as traders move their funds into traditionally safer havens. The latest missile strikes by Iran caused bitcoin to drop below $60,500.
Bitcoin ETF Options
Bitcoin ETF options could present several benefits for BTC prices, including improved price discovery, greater institutional participation, and expanded hedging opportunities. The launch of options tied to bitcoin ETFs can notably boost market liquidity. By allowing traders to take more strategic positions, options attract a broader spectrum of investors. This influx of activity can increase trading volumes, driving demand for the underlying bitcoin ETFs and, by extension, BTC itself. Options also provide leverage, enabling investors to gain exposure to larger amounts of bitcoin with less capital upfront. This leverage can amplify market movements, potentially leading to stronger price gains when sentiment is favorable.
Balancing Immediate Market Fluctuations with Long-Term Growth Potential
As the year progresses, bitcoin’s trajectory remains uncertain, swayed by external forces such as geopolitical instability and shifts in financial policy. Market participants are closely monitoring these variables, recognizing that bitcoin’s future performance hinges not just on historical trends but also on the evolving global landscape. The culmination of these events will likely dictate the market’s direction.
With both optimism and skepticism surrounding bitcoin’s potential, the crypto community faces a pivotal period. Investors are left weighing short-term volatility against long-term growth prospects, aware that decisions made now could shape the asset’s future in an unpredictable 2024 market.
#Bitcoin #BTC #Crypto #binance
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TOP 5 SECTORS AT CRYPTO MARKET
The Top 5 Crypto Sectors Driving the Market in October 2024
As October 2024 kicked off, the crypto market has remained steady despite a widespread dip on Tuesday. Since January, there’s been an interesting uptick in specific crypto themes, with artificial intelligence (AI) tokens, bridge cryptocurrencies, and meme coins outshining sectors like exchange tokens and store of value coins. The following editorial explores the top five powerhouse sectors fueling the momentum of today’s crypto economy.
2024’s Top Crypto Sectors—Bridge, AI, Meme Coins, and Beyond
In 2024, the crypto world has been buzzing with AI-themed assets and playful meme coins, with names as quirky as a celebrity or even a famous baby pygmy hippo. According to the latest from Artemis Terminal at artemis.xyz, the bridge crypto sector currently leads the pack with a weighted average of 33.4%. The weighted average on artemis.xyz reflects the percentage change in the total fully diluted market capitalization of tokens within the sector. This calculation factors in each token’s unique influence, adjusting for its market weight.
Bridge Sector
Bridge cryptocurrencies play a key role by enabling assets and data to flow across different blockchain networks, boosting liquidity, and expanding blockchain ecosystems’ utility. These tokens are connected to cross-chain bridge systems like Wormhole, Synapse Protocol, Polygon Bridge, Arbitrum, and Layerzero. Many bridges employ the “wrapped asset” approach, in which the original asset is securely locked on one blockchain, while a corresponding “wrapped” version is created on the destination chain.
AI Sector
Following closely behind is the AI coin sector, which has been quite the sensation this year, sporting a 29% weighted average as per artemis.xyz. The AI crypto sector blends artificial intelligence with blockchain tech, often utilizing machine learning to improve decision-making, security, and functionality in the Web3 space. AI tokens also provide access to AI services on blockchain platforms, bringing cutting-edge, decentralized technology to a broader audience. This sector began gaining serious momentum in late December 2023.
Meme Coin Sector
Then there’s the meme coin sector. These cryptos, born from internet memes or pop culture, often start as jokes, but some have achieved significant value. With large supplies and a strong reliance on community engagement and social media hype, meme coins have carved out their space. Dogecoin (DOGE), the original meme coin, remains the largest by market capitalization. However, this year has introduced a new wave of meme coins, many boasting substantial market values and trading volumes. Artemis Terminal reports a weighted average of 20.9% for meme coins today.
RWA Sector
Next on the list is the real-world assets (RWA) crypto sector. These tokens represent ownership or fractionalized shares of tangible assets like real estate, Treasury bills, commodities, or artwork. On Oct. 2, Artemis Terminal gave the RWA sector a weighted average of 19.1%. According to rwa.xyz, there’s about $12.15 billion in RWA on-chain assets, marking a significant footprint for traditional investments on the blockchain. Giant financial institutions like Blackrock and Franklin Templeton have entered this space.
Data Services Sector
Rounding out the top sectors is the data services crypto space, with a weighted average of 17.9% as of Wednesday. Data services cryptos focus on decentralized solutions for data storage, oracles, management, and analysis. They aim to create secure, efficient, and accessible data ecosystems, leveraging blockchain tech to ensure data integrity and privacy. This sector includes popular tokens like filecoin (FIL), arweave (AR), and chainlink (LINK).
A Shift Toward Practical Applications and Memes
Other notable sectors today include data availability, gaming, smart contracts, NFT platforms, decentralized finance (defi), and the social crypto space. But it’s the bridge, AI, meme coin, RWA, and data services sectors that truly stand out, with bridge and AI tokens leading the charge at the start of October.
As the crypto market continues to evolve, 2024 has showcased sectors that merge tech innovation with market demand. Bridge and AI tokens, in particular, are highlighting their importance in driving cross-chain interoperability and advancing AI integration. These trends signal a shift toward practical applications with a real-world impact in the blockchain ecosystem.
#BTC #ETH #Meme #RWA #Bridge
As October 2024 kicked off, the crypto market has remained steady despite a widespread dip on Tuesday. Since January, there’s been an interesting uptick in specific crypto themes, with artificial intelligence (AI) tokens, bridge cryptocurrencies, and meme coins outshining sectors like exchange tokens and store of value coins. The following editorial explores the top five powerhouse sectors fueling the momentum of today’s crypto economy.
2024’s Top Crypto Sectors—Bridge, AI, Meme Coins, and Beyond
In 2024, the crypto world has been buzzing with AI-themed assets and playful meme coins, with names as quirky as a celebrity or even a famous baby pygmy hippo. According to the latest from Artemis Terminal at artemis.xyz, the bridge crypto sector currently leads the pack with a weighted average of 33.4%. The weighted average on artemis.xyz reflects the percentage change in the total fully diluted market capitalization of tokens within the sector. This calculation factors in each token’s unique influence, adjusting for its market weight.
Bridge Sector
Bridge cryptocurrencies play a key role by enabling assets and data to flow across different blockchain networks, boosting liquidity, and expanding blockchain ecosystems’ utility. These tokens are connected to cross-chain bridge systems like Wormhole, Synapse Protocol, Polygon Bridge, Arbitrum, and Layerzero. Many bridges employ the “wrapped asset” approach, in which the original asset is securely locked on one blockchain, while a corresponding “wrapped” version is created on the destination chain.
AI Sector
Following closely behind is the AI coin sector, which has been quite the sensation this year, sporting a 29% weighted average as per artemis.xyz. The AI crypto sector blends artificial intelligence with blockchain tech, often utilizing machine learning to improve decision-making, security, and functionality in the Web3 space. AI tokens also provide access to AI services on blockchain platforms, bringing cutting-edge, decentralized technology to a broader audience. This sector began gaining serious momentum in late December 2023.
Meme Coin Sector
Then there’s the meme coin sector. These cryptos, born from internet memes or pop culture, often start as jokes, but some have achieved significant value. With large supplies and a strong reliance on community engagement and social media hype, meme coins have carved out their space. Dogecoin (DOGE), the original meme coin, remains the largest by market capitalization. However, this year has introduced a new wave of meme coins, many boasting substantial market values and trading volumes. Artemis Terminal reports a weighted average of 20.9% for meme coins today.
RWA Sector
Next on the list is the real-world assets (RWA) crypto sector. These tokens represent ownership or fractionalized shares of tangible assets like real estate, Treasury bills, commodities, or artwork. On Oct. 2, Artemis Terminal gave the RWA sector a weighted average of 19.1%. According to rwa.xyz, there’s about $12.15 billion in RWA on-chain assets, marking a significant footprint for traditional investments on the blockchain. Giant financial institutions like Blackrock and Franklin Templeton have entered this space.
Data Services Sector
Rounding out the top sectors is the data services crypto space, with a weighted average of 17.9% as of Wednesday. Data services cryptos focus on decentralized solutions for data storage, oracles, management, and analysis. They aim to create secure, efficient, and accessible data ecosystems, leveraging blockchain tech to ensure data integrity and privacy. This sector includes popular tokens like filecoin (FIL), arweave (AR), and chainlink (LINK).
A Shift Toward Practical Applications and Memes
Other notable sectors today include data availability, gaming, smart contracts, NFT platforms, decentralized finance (defi), and the social crypto space. But it’s the bridge, AI, meme coin, RWA, and data services sectors that truly stand out, with bridge and AI tokens leading the charge at the start of October.
As the crypto market continues to evolve, 2024 has showcased sectors that merge tech innovation with market demand. Bridge and AI tokens, in particular, are highlighting their importance in driving cross-chain interoperability and advancing AI integration. These trends signal a shift toward practical applications with a real-world impact in the blockchain ecosystem.
#BTC #ETH #Meme #RWA #Bridge
I buy ether 2969 and buy btc 89600 lets go
$BTC Fed çok derin bir paradoks ile karşı karşıya.
Bugün 2024'ün son Fed toplantısı var ve piyasalar %96 ihtimalle 25 baz puanlık faiz indirimi bekliyor. Ancak çok derin bir ikilem var karşısında.
Bir yanda piyasalar rekor üstüne rekor kırıyor. Hisse senetleri tarihi zirvede, ev fiyatları tepe noktasında, Bitcoin rekor tazeliyor, hatta "Fartcoin" gibi meme coinler bile 500 milyon dolar değerlemeye ulaşıyor.
Diğer yanda ise yükselen enflasyon riski var. CPI, PPI ve PCE - üç önemli enflasyon göstergesi de yeniden tırmanışta. Cleveland Fed'in Aralık tahmini %2.86. Core PCE ise %3'e yaklaşıyor.
İşin ilginç yanı, Fed pivot sinyalleri vermeye başladığından beri uzun vadeli faizler yükseliyor. 10 yıllık tahvil getirisi 85 baz puan arttı. Popüler tahvil ETF'i TLT üç ayda %11 düştü. 30 yıllık mortgage oranları %6'dan %7'ye çıktı.
Bu tablo bize ne söylüyor?
Piyasa Fed'le adeta satranç oynuyor. Fed faiz indirimi sinyali verdikçe, uzun vadeli faizler yükseliyor. Çünkü piyasa, enflasyonun geri dönüşünden ve Fed'in erken gevşemeye gittiğinden endişeli.
Bu endişe yersiz değil.
1970'lerde Fed aynı hatayı yapmıştı - enflasyonla savaşı çok erken bitirdiğini ilan edip faizleri indirmişti. Sonuç? Enflasyon geri geldi ve daha da güçlendi.
Üstelik bugün 1970'lerden farklı olarak devasa bir ulusal borç var. Faiz ödemeleri yıllık 1 trilyon doları aştı. Bu da Fed'in elini zorlaştırıyor.
Bugünkü toplantıda büyük ihtimalle 25 baz puan indirim göreceğiz. Ancak asıl soru sonrasında ne olacağı. Ocak'ta Fed yoluna devam edecek mi yoksa piyasanın mesajını alıp duraksamaya mı gidecek?
Ben ikinci senaryoya daha yakın duruyorum. Çünkü:
1. Enflasyon henüz tam kontrol altında değil
2. Finansal koşullar son 24 yılın en gevşek seviyesinde
3. Spekülatif davranışlar yeniden artıyor
4. İşgücü piyasası zayıflama sinyalleri veriyor
Yani önümüzdeki dönem muhtemelen "daha yüksek, daha uzun" faiz dönemine dönüş olacak.
Bugün 2024'ün son Fed toplantısı var ve piyasalar %96 ihtimalle 25 baz puanlık faiz indirimi bekliyor. Ancak çok derin bir ikilem var karşısında.
Bir yanda piyasalar rekor üstüne rekor kırıyor. Hisse senetleri tarihi zirvede, ev fiyatları tepe noktasında, Bitcoin rekor tazeliyor, hatta "Fartcoin" gibi meme coinler bile 500 milyon dolar değerlemeye ulaşıyor.
Diğer yanda ise yükselen enflasyon riski var. CPI, PPI ve PCE - üç önemli enflasyon göstergesi de yeniden tırmanışta. Cleveland Fed'in Aralık tahmini %2.86. Core PCE ise %3'e yaklaşıyor.
İşin ilginç yanı, Fed pivot sinyalleri vermeye başladığından beri uzun vadeli faizler yükseliyor. 10 yıllık tahvil getirisi 85 baz puan arttı. Popüler tahvil ETF'i TLT üç ayda %11 düştü. 30 yıllık mortgage oranları %6'dan %7'ye çıktı.
Bu tablo bize ne söylüyor?
Piyasa Fed'le adeta satranç oynuyor. Fed faiz indirimi sinyali verdikçe, uzun vadeli faizler yükseliyor. Çünkü piyasa, enflasyonun geri dönüşünden ve Fed'in erken gevşemeye gittiğinden endişeli.
Bu endişe yersiz değil.
1970'lerde Fed aynı hatayı yapmıştı - enflasyonla savaşı çok erken bitirdiğini ilan edip faizleri indirmişti. Sonuç? Enflasyon geri geldi ve daha da güçlendi.
Üstelik bugün 1970'lerden farklı olarak devasa bir ulusal borç var. Faiz ödemeleri yıllık 1 trilyon doları aştı. Bu da Fed'in elini zorlaştırıyor.
Bugünkü toplantıda büyük ihtimalle 25 baz puan indirim göreceğiz. Ancak asıl soru sonrasında ne olacağı. Ocak'ta Fed yoluna devam edecek mi yoksa piyasanın mesajını alıp duraksamaya mı gidecek?
Ben ikinci senaryoya daha yakın duruyorum. Çünkü:
1. Enflasyon henüz tam kontrol altında değil
2. Finansal koşullar son 24 yılın en gevşek seviyesinde
3. Spekülatif davranışlar yeniden artıyor
4. İşgücü piyasası zayıflama sinyalleri veriyor
Yani önümüzdeki dönem muhtemelen "daha yüksek, daha uzun" faiz dönemine dönüş olacak.
-MicroStrategy's Bitcoin Strategy: Navigating Profits and Market
Impact-
MicroStrategy has emerged as a significant player in the cryptocurrency world, frequently making headlines with its Bitcoin (BTC) purchases. The company's treasury now holds 252,220 BTC, representing 1.20% of the total Bitcoin supply, positioning MicroStrategy as one of the largest BTC holders in the industry. The current market value of these holdings is around $17.5 billion, underscoring the importance of Bitcoin investments in the company's strategy.
With an average purchase price of $39,000, MicroStrategy has achieved approximately 80% profit as Bitcoin's price has surged. However, this situation also carries inherent risks. The decision on at what price to sell these Bitcoins could significantly impact the market. If MicroStrategy opts for a large-scale sale, it could lead to price volatility and fluctuations.
Given the cryptocurrency market's inherently volatile nature, a substantial sell-off could trigger price declines. This potential for a market reaction, including panic selling from other investors, might further exacerbate the situation.
On the other hand, MicroStrategy's strategy of holding onto its Bitcoins reflects a long-term investment perspective. The company views Bitcoin as a store of value, which may lead it to prioritize retention over immediate sales. Such an approach could foster a more stable market environment.
In conclusion, MicroStrategy's Bitcoin purchases and potential sales are critical to both the company's future and the broader cryptocurrency market. The price level at which the company chooses to sell and the subsequent market effects will be key factors for investors to monitor closely.
#BTC☀ #MicroStrategу $BTC $BTC
Impact-
MicroStrategy has emerged as a significant player in the cryptocurrency world, frequently making headlines with its Bitcoin (BTC) purchases. The company's treasury now holds 252,220 BTC, representing 1.20% of the total Bitcoin supply, positioning MicroStrategy as one of the largest BTC holders in the industry. The current market value of these holdings is around $17.5 billion, underscoring the importance of Bitcoin investments in the company's strategy.
With an average purchase price of $39,000, MicroStrategy has achieved approximately 80% profit as Bitcoin's price has surged. However, this situation also carries inherent risks. The decision on at what price to sell these Bitcoins could significantly impact the market. If MicroStrategy opts for a large-scale sale, it could lead to price volatility and fluctuations.
Given the cryptocurrency market's inherently volatile nature, a substantial sell-off could trigger price declines. This potential for a market reaction, including panic selling from other investors, might further exacerbate the situation.
On the other hand, MicroStrategy's strategy of holding onto its Bitcoins reflects a long-term investment perspective. The company views Bitcoin as a store of value, which may lead it to prioritize retention over immediate sales. Such an approach could foster a more stable market environment.
In conclusion, MicroStrategy's Bitcoin purchases and potential sales are critical to both the company's future and the broader cryptocurrency market. The price level at which the company chooses to sell and the subsequent market effects will be key factors for investors to monitor closely.
#BTC☀ #MicroStrategу $BTC $BTC
How has VCs’ interest in crypto evolved?
In the early days of crypto venture capital, around 2012 to 2017, the landscape was defined by a sense of both wild optimism and uncertainty. VC firms were drawn to the untapped potential of blockchain technology, often investing in networks that promised transformative solutions but lacked substantial frameworks to bring these visions to life.
At this stage, investors frequently prioritized projects based on their potential for explosive growth, overlooking business metrics or the viability of the technology they were producing. The due diligence process was relatively minimal, leading to heightened volatility and, in some cases, project downfalls, even those that garnered substantial funding.
Market excitement led to a culture of speculation, where investments were sometimes made on a gut feeling rather than a thorough analysis of the technology stack or market fit.
This environment attracted not just seasoned VC funds and investors but newcomers eager to participate in what seemed like a gold rush. As a result, projects and networks emerged with ambitious whitepapers and unrealistic promises. Yet few had the expertise and guidance to deliver on their claims.
As the markets matured, the shortcomings of early VC strategies became clear. To save face, many marquee VC firms that had only dipped their toes into blockchain quickly pulled out of the industry altogether. However, this paved the way for a more cautious and strategic approach focusing on real-world applications, infrastructure, and emerging technologies that provided a sense of stability and sustainability to the crypto market.
This shift reflects a broader trend in VC funding where investors increasingly evaluate what a project and network can provide beyond a concrete product or solution. Societal and environmental impact are becoming more important to VCs as they aim to support blockchain projects that bring communities together.
#venturecapital #CryptoNewss
In the early days of crypto venture capital, around 2012 to 2017, the landscape was defined by a sense of both wild optimism and uncertainty. VC firms were drawn to the untapped potential of blockchain technology, often investing in networks that promised transformative solutions but lacked substantial frameworks to bring these visions to life.
At this stage, investors frequently prioritized projects based on their potential for explosive growth, overlooking business metrics or the viability of the technology they were producing. The due diligence process was relatively minimal, leading to heightened volatility and, in some cases, project downfalls, even those that garnered substantial funding.
Market excitement led to a culture of speculation, where investments were sometimes made on a gut feeling rather than a thorough analysis of the technology stack or market fit.
This environment attracted not just seasoned VC funds and investors but newcomers eager to participate in what seemed like a gold rush. As a result, projects and networks emerged with ambitious whitepapers and unrealistic promises. Yet few had the expertise and guidance to deliver on their claims.
As the markets matured, the shortcomings of early VC strategies became clear. To save face, many marquee VC firms that had only dipped their toes into blockchain quickly pulled out of the industry altogether. However, this paved the way for a more cautious and strategic approach focusing on real-world applications, infrastructure, and emerging technologies that provided a sense of stability and sustainability to the crypto market.
This shift reflects a broader trend in VC funding where investors increasingly evaluate what a project and network can provide beyond a concrete product or solution. Societal and environmental impact are becoming more important to VCs as they aim to support blockchain projects that bring communities together.
#venturecapital #CryptoNewss
-Trump Makes Big Promises About Crypto in US -
Former president and 2024 Republican presidential candidate Donald Trump has delivered many broken promises in his political career.
This year, Trump has taken up crypto in an attempt to lure in crypto voters. On July 7, the Republican Party unveiled a draft of its political program, and crypto was specifically mentioned under its innovation program, next to the development programs for artificial intelligence and space expansion. The document summarized the main crypto objective of a Trump administration:
“Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.”
The political program was codified following Trump’s comments at the 2024 Bitcoin Conference in Nashville, where he said, “I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over,” stating firmly that “it will end. It will be done.”
But will Trump really follow through on these bold promises?
Bitcoin “made in the USA”
On June 12, Trump posted on Truth Social that he wanted “all the remaining Bitcoin to be made in the USA,” claiming it would help the US become “energy dominant.” Currently, 90% of the 21-million-capped Bitcoin supply has been mined.
Trump’s aims to bolster the US mining industry and keep Bitcoin production onshore could face significant logistical and regulatory challenges due to the decentralized nature of Bitcoin mining.
Ben Gagnon, CEO of crypto mining firm Bitfarms, told Cointelegraph it’s “absolutely possible and desirable to make America the number one country for Bitcoin mining.”
#BTC☀ #CryptoDecision #CryptoNewss
Former president and 2024 Republican presidential candidate Donald Trump has delivered many broken promises in his political career.
This year, Trump has taken up crypto in an attempt to lure in crypto voters. On July 7, the Republican Party unveiled a draft of its political program, and crypto was specifically mentioned under its innovation program, next to the development programs for artificial intelligence and space expansion. The document summarized the main crypto objective of a Trump administration:
“Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.”
The political program was codified following Trump’s comments at the 2024 Bitcoin Conference in Nashville, where he said, “I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over,” stating firmly that “it will end. It will be done.”
But will Trump really follow through on these bold promises?
Bitcoin “made in the USA”
On June 12, Trump posted on Truth Social that he wanted “all the remaining Bitcoin to be made in the USA,” claiming it would help the US become “energy dominant.” Currently, 90% of the 21-million-capped Bitcoin supply has been mined.
Trump’s aims to bolster the US mining industry and keep Bitcoin production onshore could face significant logistical and regulatory challenges due to the decentralized nature of Bitcoin mining.
Ben Gagnon, CEO of crypto mining firm Bitfarms, told Cointelegraph it’s “absolutely possible and desirable to make America the number one country for Bitcoin mining.”
#BTC☀ #CryptoDecision #CryptoNewss
Central Banks Are Secretly Buying Bitcoin
It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Here’s why:
Hedging Against Their Own Policies
Nearly all countries are up to their ears in debt. Since austerity measures are not politically acceptable, they must find other ways to manage that debt – and the easiest path is just to inflate it away! If you make the value of each dollar of debt worth less and less each year, it naturally becomes easier to find the money to pay it off.
Here’s where central banks come in, and the game plan is simple: flood the economy with money to purposely cause inflation. In the United States, the Fed supposedly targets a 2% inflation rate, but in reality, they want the inflation rate to be as high as possible without causing political turmoil.
Of course, central banks know all about inflation, which is why they try to minimize the amount of currency they hold in reserve. Instead, they opt for hard assets – ie. assets that don’t get devalued year after year.
Gold is one such asset, and so are stocks, and even some kinds of bonds. Bitcoin is also an inflation-resistant asset, which is why central banks are probably scooping it up right now.
Bitcoin as a Hedge Against Uncertainty
The global economy is shaky, and as many investors turn to Bitcoin to hedge against financial instability, central banks are likely doing the same. Publicly, bankers may criticize Bitcoin, but privately they could be buying it to protect their reserves, particularly in countries seeking sanction-resistant assets. Bitcoin’s decentralized nature provides an escape from financial sanctions and offers a hedge against rising debts and inflation as trust in fiat currencies erodes. For central banks in geopolitically sensitive regions, accumulating Bitcoin could serve both as a safeguard against weakening traditional monetary systems and as a means to sidestep external pressures.
#Bitcoin❗ #bitcoin☀️ #BTC☀ #CentralBanking
It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Here’s why:
Hedging Against Their Own Policies
Nearly all countries are up to their ears in debt. Since austerity measures are not politically acceptable, they must find other ways to manage that debt – and the easiest path is just to inflate it away! If you make the value of each dollar of debt worth less and less each year, it naturally becomes easier to find the money to pay it off.
Here’s where central banks come in, and the game plan is simple: flood the economy with money to purposely cause inflation. In the United States, the Fed supposedly targets a 2% inflation rate, but in reality, they want the inflation rate to be as high as possible without causing political turmoil.
Of course, central banks know all about inflation, which is why they try to minimize the amount of currency they hold in reserve. Instead, they opt for hard assets – ie. assets that don’t get devalued year after year.
Gold is one such asset, and so are stocks, and even some kinds of bonds. Bitcoin is also an inflation-resistant asset, which is why central banks are probably scooping it up right now.
Bitcoin as a Hedge Against Uncertainty
The global economy is shaky, and as many investors turn to Bitcoin to hedge against financial instability, central banks are likely doing the same. Publicly, bankers may criticize Bitcoin, but privately they could be buying it to protect their reserves, particularly in countries seeking sanction-resistant assets. Bitcoin’s decentralized nature provides an escape from financial sanctions and offers a hedge against rising debts and inflation as trust in fiat currencies erodes. For central banks in geopolitically sensitive regions, accumulating Bitcoin could serve both as a safeguard against weakening traditional monetary systems and as a means to sidestep external pressures.
#Bitcoin❗ #bitcoin☀️ #BTC☀ #CentralBanking
free alpha : long
This Week’s Crypto Gainers and Losers: Meme Tokens Outshine Bitcoin and Ethereum
In the midst of a more optimistic crypto market, both bitcoin and ethereum have enjoyed steady growth, climbing by 3.13% and 3.61%, respectively, over the past week. Additionally, several other digital currencies experienced even more significant increases, with spx6900 (SPX) stealing the spotlight by skyrocketing 107.2%, making it the standout performer of the week.
Crypto Market Climbs to $2.25 Trillion, SPX and Meme Tokens Shine With Triple to Double-Digit Gains
On Monday, the total global market capitalization for all crypto assets hit $2.25 trillion, marking a 3.01% boost in the past 24 hours. Over the last week, many cryptocurrencies have rallied against the U.S. dollar, recovering from the previous week’s losses. Leading the charge this week was spx6900 (SPX), which shot up by a staggering 107.2%. Additionally, around two dozen coins posted impressive double-digit gains.
Trailing SPX is the artificial intelligence (AI) powered meme token goatseus maximus (GOAT), which jumped 70.2% this week. The token reef (REEF) gained 50%, while baby doge coin (BABYDOGE) saw a rise of 45.31%. Also making waves, the book of meme (BOME) leaped by 39.71%, and dog go to the moon (DOG) followed closely with a 38.86% increase. Other notable performers include MOG, AXL, ZEC, BDX, and WLD.
Outside of BTC, ETH, and stablecoins, the highest trading volumes of the week belonged to SOL, BNB, SUI, PEPE, XRP, DOGE, WIF, NEIRO, and APT. On the downside, only a handful of coins posted double-digit losses. The newly launched scroll (SCR) took the hardest hit, plummeting over 50%, while ftx token (FTT) dropped by 23.37%. Hamster kombat is still struggling, down 13.33% this week, followed by RLB, which fell 11.44%, and HNT, down 11.11%.
The cryptocurrency market’s recent performance highlights renewed optimism, with top assets and standout tokens making impressive gains.
In the midst of a more optimistic crypto market, both bitcoin and ethereum have enjoyed steady growth, climbing by 3.13% and 3.61%, respectively, over the past week. Additionally, several other digital currencies experienced even more significant increases, with spx6900 (SPX) stealing the spotlight by skyrocketing 107.2%, making it the standout performer of the week.
Crypto Market Climbs to $2.25 Trillion, SPX and Meme Tokens Shine With Triple to Double-Digit Gains
On Monday, the total global market capitalization for all crypto assets hit $2.25 trillion, marking a 3.01% boost in the past 24 hours. Over the last week, many cryptocurrencies have rallied against the U.S. dollar, recovering from the previous week’s losses. Leading the charge this week was spx6900 (SPX), which shot up by a staggering 107.2%. Additionally, around two dozen coins posted impressive double-digit gains.
Trailing SPX is the artificial intelligence (AI) powered meme token goatseus maximus (GOAT), which jumped 70.2% this week. The token reef (REEF) gained 50%, while baby doge coin (BABYDOGE) saw a rise of 45.31%. Also making waves, the book of meme (BOME) leaped by 39.71%, and dog go to the moon (DOG) followed closely with a 38.86% increase. Other notable performers include MOG, AXL, ZEC, BDX, and WLD.
Outside of BTC, ETH, and stablecoins, the highest trading volumes of the week belonged to SOL, BNB, SUI, PEPE, XRP, DOGE, WIF, NEIRO, and APT. On the downside, only a handful of coins posted double-digit losses. The newly launched scroll (SCR) took the hardest hit, plummeting over 50%, while ftx token (FTT) dropped by 23.37%. Hamster kombat is still struggling, down 13.33% this week, followed by RLB, which fell 11.44%, and HNT, down 11.11%.
The cryptocurrency market’s recent performance highlights renewed optimism, with top assets and standout tokens making impressive gains.
Piyasalar kafiyeleri sever. Fraktallar bunun en güzel örnekleridir
2023 ve 2024 chop season online
#bitcoin☀️
2023 ve 2024 chop season online
#bitcoin☀️
$JTO
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
$RENDER
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
Im simply man, if first green box didnt hold the price I will follow this price action, nothing more
#bitcoin☀️ #BTC☀ #BinanceSquareFamily
$BTC
#bitcoin☀️ #BTC☀ #BinanceSquareFamily
$BTC
-$ONDO LONG SETUP
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
Certik: Malicious Actors Stole $753 Million in Q3, Phishing Top Attack Vector
Malicious actors stole $753 million in the third quarter, with phishing being the most costly attack vector. The report emphasizes the need for stronger security measures and warns users to be cautious of phishing scams. Ethereum and Bitcoin networks were the hardest hit chains, with combined losses exceeding $600 million.
Users Urged to Be Wary of Unsolicited Messages
Certik’s latest report reveals that malicious actors stole digital assets worth $753 million in 155 security incidents during the third quarter. Although the security incidents were 27 fewer, the value of stolen digital assets increased by 9.5%. The Q3 losses bring the total value of digital assets stolen by cybercriminals in 2024 to approximately $2 billion.
While Web3 players continue to strengthen their security systems, the Certik report asserts that the rising loss level indicates hackers are becoming more sophisticated. Phishing was identified as the most costly attack vector in the quarter, with $343,099,650 stolen in 65 incidents.
Commenting on this attack vector and prevention measures that Web3 platforms can take, the Certik report said:
''These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, and enable two-factor authentication (2FA).''
Private key compromises were the next most costly vector, with $324.4 million lost in just 10 incidents. Across the remaining top ten attacks, losses ranged from $39.6 million due to code vulnerability exploits to approximately $175,000 lost after hackers breached access controls.
When assessing losses by chain, the report data indicates the Ethereum network accounted for just over half of the total losses, with $387.8 million siphoned in 86 incidents.
#Bitcoin #Binance
Malicious actors stole $753 million in the third quarter, with phishing being the most costly attack vector. The report emphasizes the need for stronger security measures and warns users to be cautious of phishing scams. Ethereum and Bitcoin networks were the hardest hit chains, with combined losses exceeding $600 million.
Users Urged to Be Wary of Unsolicited Messages
Certik’s latest report reveals that malicious actors stole digital assets worth $753 million in 155 security incidents during the third quarter. Although the security incidents were 27 fewer, the value of stolen digital assets increased by 9.5%. The Q3 losses bring the total value of digital assets stolen by cybercriminals in 2024 to approximately $2 billion.
While Web3 players continue to strengthen their security systems, the Certik report asserts that the rising loss level indicates hackers are becoming more sophisticated. Phishing was identified as the most costly attack vector in the quarter, with $343,099,650 stolen in 65 incidents.
Commenting on this attack vector and prevention measures that Web3 platforms can take, the Certik report said:
''These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, and enable two-factor authentication (2FA).''
Private key compromises were the next most costly vector, with $324.4 million lost in just 10 incidents. Across the remaining top ten attacks, losses ranged from $39.6 million due to code vulnerability exploits to approximately $175,000 lost after hackers breached access controls.
When assessing losses by chain, the report data indicates the Ethereum network accounted for just over half of the total losses, with $387.8 million siphoned in 86 incidents.
#Bitcoin #Binance
JPMorgan: Gold and Bitcoin Surge as Debasement Trade Gains Momentum
Global investment bank JPMorgan’s analysts have highlighted the growing impact of the “debasement trade” in boosting gold and bitcoin prices. Gold’s rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail investors are viewing gold and bitcoin as safe havens amid global economic uncertainty, with future trends depending on geopolitical events and fiscal policies.
JPMorgan Discusses How the ‘Debasement Trade’ Is Fueling Gold and Bitcoin Gains
JPMorgan’s analysts have highlighted how the “debasement trade” is driving gains in both gold and bitcoin. Led by global strategist Nikolaos Panigirtzoglou, the analysts noted that gold has surged beyond what could be explained by dollar and real bond yield movements alone. Instead, they attribute the increase to a range of factors, including geopolitical uncertainty, inflation concerns, and declining confidence in fiat currencies.
They explained: “The ‘debasement trade’ is a term that reflects a combination of gold demand factors which in our client conversations range from structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ‘debt debasement’ due to persistently high government deficits across major economies, to waning confidence in fiat currencies in certain emerging markets, and to a broader diversification away from the dollar.”
The analysts also emphasized that gold’s price, around $2,700 per ounce, and bitcoin, near $60,000, have given them new currency, so to speak. They pointed to the falling share of the U.S. dollar in global currency reserves, noting that the dollar now accounts for just 57% of reserves, according to International Monetary Fund (IMF) data. Despite China pausing its gold purchases since April, JPMorgan said:
''There is little doubt that the pace of central bank purchases is key to gauging the future trajectory for gold prices.
Global investment bank JPMorgan’s analysts have highlighted the growing impact of the “debasement trade” in boosting gold and bitcoin prices. Gold’s rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail investors are viewing gold and bitcoin as safe havens amid global economic uncertainty, with future trends depending on geopolitical events and fiscal policies.
JPMorgan Discusses How the ‘Debasement Trade’ Is Fueling Gold and Bitcoin Gains
JPMorgan’s analysts have highlighted how the “debasement trade” is driving gains in both gold and bitcoin. Led by global strategist Nikolaos Panigirtzoglou, the analysts noted that gold has surged beyond what could be explained by dollar and real bond yield movements alone. Instead, they attribute the increase to a range of factors, including geopolitical uncertainty, inflation concerns, and declining confidence in fiat currencies.
They explained: “The ‘debasement trade’ is a term that reflects a combination of gold demand factors which in our client conversations range from structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ‘debt debasement’ due to persistently high government deficits across major economies, to waning confidence in fiat currencies in certain emerging markets, and to a broader diversification away from the dollar.”
The analysts also emphasized that gold’s price, around $2,700 per ounce, and bitcoin, near $60,000, have given them new currency, so to speak. They pointed to the falling share of the U.S. dollar in global currency reserves, noting that the dollar now accounts for just 57% of reserves, according to International Monetary Fund (IMF) data. Despite China pausing its gold purchases since April, JPMorgan said:
''There is little doubt that the pace of central bank purchases is key to gauging the future trajectory for gold prices.
Spot Bitcoin ETFs Suffer $91.76M Loss as Ethereum ETFs Rebound
U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day in the red, with $91.76 million flowing out of the funds. However, spot ethereum ETFs showed some resilience, pulling in $14.45 million in fresh inflows on Wednesday.
Bitcoin ETFs Experience Outflows as Ethereum ETFs Rise Above
On Oct. 2, 2024, the 12 U.S.-based spot bitcoin ETFs faced a collective outflow of $91.76 million. The day’s trade volume hit $1.66 billion, with Ark Invest and 21shares’ ARKB leading the downturn, losing $60.28 million. Grayscale’s GBTC followed with a $27.31 million dip, while Blackrock’s IBIT saw a $13.74 million decline, and Bitwise’s BITB lost $11.51 million.
Offering a silver lining, Fidelity’s FBTC managed to bring in $21.08 million in positive inflows. The remaining bitcoin ETFs ended the day mostly flat, without notable gains or losses. Meanwhile, ethereum ETFs saw brighter results, with $14.45 million in inflows from $197.82 million in trade volume.
Blackrock’s ETHA stood out as the biggest winner, adding $18.04 million. Franklin Templeton’s EZET also saw a modest gain of $1.81 million. On the flip side, Grayscale’s ETHE lost $5.4 million, while the rest of the ethereum ETFs wrapped up the day with no significant changes. The $14.45 million gain reduces the cumulative net outflows since July 23 to $557.86 million.
All nine ethereum funds hold $6.51 billion worth of ETH, representing 2.27% of the total market cap of ethereum. In comparison, the $91.76 million loss brings the 12 spot bitcoin ETFs’ cumulative net inflows to $18.53 billion since Jan. 11. According to sosovalue.xyz data, these funds now collectively hold $55.85 billion in BTC, which accounts for 4.64% of bitcoin’s total market value.
#ETH #ETHA #Blackrock #ETF $ETH
$ETH
U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day in the red, with $91.76 million flowing out of the funds. However, spot ethereum ETFs showed some resilience, pulling in $14.45 million in fresh inflows on Wednesday.
Bitcoin ETFs Experience Outflows as Ethereum ETFs Rise Above
On Oct. 2, 2024, the 12 U.S.-based spot bitcoin ETFs faced a collective outflow of $91.76 million. The day’s trade volume hit $1.66 billion, with Ark Invest and 21shares’ ARKB leading the downturn, losing $60.28 million. Grayscale’s GBTC followed with a $27.31 million dip, while Blackrock’s IBIT saw a $13.74 million decline, and Bitwise’s BITB lost $11.51 million.
Offering a silver lining, Fidelity’s FBTC managed to bring in $21.08 million in positive inflows. The remaining bitcoin ETFs ended the day mostly flat, without notable gains or losses. Meanwhile, ethereum ETFs saw brighter results, with $14.45 million in inflows from $197.82 million in trade volume.
Blackrock’s ETHA stood out as the biggest winner, adding $18.04 million. Franklin Templeton’s EZET also saw a modest gain of $1.81 million. On the flip side, Grayscale’s ETHE lost $5.4 million, while the rest of the ethereum ETFs wrapped up the day with no significant changes. The $14.45 million gain reduces the cumulative net outflows since July 23 to $557.86 million.
All nine ethereum funds hold $6.51 billion worth of ETH, representing 2.27% of the total market cap of ethereum. In comparison, the $91.76 million loss brings the 12 spot bitcoin ETFs’ cumulative net inflows to $18.53 billion since Jan. 11. According to sosovalue.xyz data, these funds now collectively hold $55.85 billion in BTC, which accounts for 4.64% of bitcoin’s total market value.
#ETH #ETHA #Blackrock #ETF $ETH
$ETH
Bank of Russia Claims Digital Ruble Issuance Won't Cause Inflation
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the state’s mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the country’s financial stability, and will not change the functions of the banking system.
Bank of Russia: Digital Ruble Not a Risk for the Country’s Financial Stability
The Bank of Russia recently explained that the digital ruble, Russia’s central bank digital currency (CBDC), will not change how the state manages its monetary policy. In a draft outlining the direction of the central bank’s policies for 2025-2027, the bank indicated that it would continue to target inflation with the same tools even after the digital ruble launch.
In the document, the bank stated:
''The emergence of a digital form of the national currency will not affect the mechanisms for implementing monetary policy. The Bank of Russia will continue to manage money market rates by conducting operations for providing liquidity to banks and absorbing it.''
Russia’s CBDC is a retail currency, meaning that users can make payments using it directly, like with the Chinese digital yuan. This is different from the CBDCs that some countries are researching, which focus on easing the transactions between financial institutions of the money network.
Analysts are worried about the digital ruble and its possible effects on the Russian economy. Nonetheless, the bank assessed that it would not have an inflationary effect and would only increase the demand for cash and funds in bank accounts, but not money issuance.
The bank also declared that the current system with its two-tier structure will be preserved, and credit institutions will remain functioning lenders, offering custody for the people’s savings. These will have to support the digital ruble, giving customers tools to open accounts and make transactions using it.
#CBDC #Crypto #BTC #Bitcoin #ETH
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the state’s mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the country’s financial stability, and will not change the functions of the banking system.
Bank of Russia: Digital Ruble Not a Risk for the Country’s Financial Stability
The Bank of Russia recently explained that the digital ruble, Russia’s central bank digital currency (CBDC), will not change how the state manages its monetary policy. In a draft outlining the direction of the central bank’s policies for 2025-2027, the bank indicated that it would continue to target inflation with the same tools even after the digital ruble launch.
In the document, the bank stated:
''The emergence of a digital form of the national currency will not affect the mechanisms for implementing monetary policy. The Bank of Russia will continue to manage money market rates by conducting operations for providing liquidity to banks and absorbing it.''
Russia’s CBDC is a retail currency, meaning that users can make payments using it directly, like with the Chinese digital yuan. This is different from the CBDCs that some countries are researching, which focus on easing the transactions between financial institutions of the money network.
Analysts are worried about the digital ruble and its possible effects on the Russian economy. Nonetheless, the bank assessed that it would not have an inflationary effect and would only increase the demand for cash and funds in bank accounts, but not money issuance.
The bank also declared that the current system with its two-tier structure will be preserved, and credit institutions will remain functioning lenders, offering custody for the people’s savings. These will have to support the digital ruble, giving customers tools to open accounts and make transactions using it.
#CBDC #Crypto #BTC #Bitcoin #ETH
Middle East Tensions Trigger Equities Sell-Off, Bitcoin Drops to $60,128
On Tuesday, major U.S. stock indices, including the Nasdaq Composite, Dow Jones Industrial Average, Russell 2000, and S&P 500, all closed in negative territory, driven by growing concerns over potential conflict escalation in the Middle East. According to the U.S. State Department, Iran launched nearly 200 ballistic missiles toward Israel. Following the announcement, bitcoin dipped to $60,246, while gold prices experienced a modest 1% rise.
Conflict Fears Rattle Markets: U.S. Stocks Slide, Bitcoin and Ethereum See Sharp Declines
On Oct. 1, 2024, reports flooded in stating that Iran had launched missiles at Israel, with most of the attacks successfully intercepted. However, Israeli military spokesperson Daniel Hagari noted that “a few hits” did occur. As the news broke, the markets reacted swiftly, and U.S. equities took a nosedive. The Russell 2000 (RUT) dropped 1.48%, the Nasdaq Composite (IXIC) fell 1.53%, the Dow Jones Industrial Average (DJI) slid 0.41%, and the S&P 500 (GSPC) lost 0.93%.
Globally, markets tightened as concerns mounted over the potential escalation into a world war. Social media is filled with discussions about World War III, and news outlets across the globe are delivering constant updates. Just like traditional stocks, the crypto market is feeling the pressure, shaken by news that has unsettled equity investors. The crypto market’s overall value has dropped to $2.12 trillion, down 5.59% over the past 24 hours.
#Bitcoin #ETH #btc #BTC #Binance
On Tuesday, major U.S. stock indices, including the Nasdaq Composite, Dow Jones Industrial Average, Russell 2000, and S&P 500, all closed in negative territory, driven by growing concerns over potential conflict escalation in the Middle East. According to the U.S. State Department, Iran launched nearly 200 ballistic missiles toward Israel. Following the announcement, bitcoin dipped to $60,246, while gold prices experienced a modest 1% rise.
Conflict Fears Rattle Markets: U.S. Stocks Slide, Bitcoin and Ethereum See Sharp Declines
On Oct. 1, 2024, reports flooded in stating that Iran had launched missiles at Israel, with most of the attacks successfully intercepted. However, Israeli military spokesperson Daniel Hagari noted that “a few hits” did occur. As the news broke, the markets reacted swiftly, and U.S. equities took a nosedive. The Russell 2000 (RUT) dropped 1.48%, the Nasdaq Composite (IXIC) fell 1.53%, the Dow Jones Industrial Average (DJI) slid 0.41%, and the S&P 500 (GSPC) lost 0.93%.
Globally, markets tightened as concerns mounted over the potential escalation into a world war. Social media is filled with discussions about World War III, and news outlets across the globe are delivering constant updates. Just like traditional stocks, the crypto market is feeling the pressure, shaken by news that has unsettled equity investors. The crypto market’s overall value has dropped to $2.12 trillion, down 5.59% over the past 24 hours.
#Bitcoin #ETH #btc #BTC #Binance
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