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User-sheeza Ali 2f387
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AED Crypto Coin News: UAE Approves Dirham-Pegged Stablecoin
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$BTC Things have changed fast since the weekend! Against the US dollar, Bitcoin (or BTC/USD) is poised to end another session on the front foot. You will note that the Research Team pencilled in the following in the week-ahead post (italics): From the daily timeframe, the key technical observation, particularly for chart pattern enthusiasts, is the ascending triangle pattern formed between $34,758 and $37,999 in a market trending higher. Ascending triangles are recognised as continuation chart patterns within uptrends (traders tend to buy the breakout above its upper limit and project a profit objective using its base value, which, in this case, is $41,223). You will note that price tunnelled through the upper boundary of the ascending triangle last week, effectively handing the baton to breakout buyers. You will also see that support at $37,624 was recently retested (prior resistance), movement adding weight to the upside breakout. As evident from the daily timeframe, the price tested the ascending triangle’s profit objective at $41,223 today and shook hands with neighbouring resistance on the daily timeframe at $41,500. Where Next for the Major Crypto? Is it time for a reversal? Are we just taking a breather? Are we heading for higher levels? These are all valid questions. According to the Relative Strength Index (RSI), the monthly chart is testing overbought levels not seen since early 2021 and the daily chart is demonstrating early negative divergence from oversold territory. This tells traders/investors that BTC/USD is overvalued at this point in time and could either chalk up a correction or consolidate (take a breather) from daily resistance at $41,500. The caveat to the above, however, is that the weekly timeframe shows room to press higher until a resistance zone between $46,112 (1.272% Fibonacci projection ratio [‘alternate’ AB=CD pattern]) and horizontal resistance at $42,971. Adding to this, both the weekly and daily timeframes are trending higher. BTC/USD Still Favours Bulls Given the above, this market continues to lean in favour .
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#AirdropStepByStep #AirdropStepByStep InceptionLRT is pleased to inform that users can now claim their allocated tokens from EigenLayer’s Stakedrop Season 2 directly on our dApp. If you’ve been restaking with Inception, this might be for you! Whether you’re a seasoned restaker or new to EigenLayer, this guide will help you navigate the process of claiming your EIGEN tokens smoothly through InceptionLRT. What is EigenLayer Stakedrop? EigenLayer’s Stakedrop is a rewards event during which EigenLayer ecosystem tokens - EIGEN, are distributed to participants. The purpose is to reward users who contribute to EigenLayer’s security and operations by restaking ETH, any other compatible Liquid Staking Token (LST), or serving as node operators. In exchange for their contributions, eligible users can receive tokens according to how long their assets have been restaked, as measured in the amount of ETH/hours. Who is Eligible for the EIGEN airdrop? If you have restaked with us, you are likely eligible to claim EIGEN tokens from the EigenLayer Stakedrop event. Your eligibility is decided by the ETH/hours you’ve accumulated while restaking, which refers to the amount of time and ETH you’ve actively restaked. The longer and more ETH you have restaked, the more tokens you will be able to claim. How to Claim Your EIGEN Tokens on InceptionLRT Follow these simple steps to claim your EIGEN tokens directly from the InceptionLRT platform:
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#AbuDhabiStablecoin Abu Dhabi institutional giants team up for dirham stablecoin If it gets the nod from United Arab Emirates regulators, the dirham-pegged and central bank-regulated stablecoin will operate on the ADI blockchain.A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin. Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates’ largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval, the three companies said on April 28. The trio said the stablecoin would be regulated by the UAE’s central bank and backed by the country’s currency, the dirham. It will also support use cases such as machine-to-machine and artificial intelligence. The goal is to place the UAE at the “forefront of global blockchain innovation,” while also strengthening the digital infrastructure, according to ADQ. If it gets the nod from regulators, the new stablecoin will operate on the ADI blockchain, created by the ADI Foundation, a nonprofit organization dedicated to helping established financial systems and governments advance and adopt blockchain technology. Established in 2018, ADQ is a sovereign wealth fund focused on critical infrastructure and global supply chains. Meanwhile, IHC is one of the UAE’s largest investment firms and conglomerates with a market value of over $243 billion that has ties to the ruling family of Abu Dhabi, the country’s capital. FAB is the largest bank in the UAE, formed in 2017 through a merger between First Gulf Bank and National Bank of Abu Dhabi. Countries line up to challenge US dollar stablecoins Other countries have also announced plans to launch stablecoins backed by currencies other than the US dollar. The market cap of US dollar-denominated stablecoins crossed $230 billion in April, an increase of 54% since last year, with Tether USDT $1.00 and USDC USDC $0.9998 dominating 90% of the market.Related: UAE
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#ArizonaBTCReserve Apr 29, 2025 3 min read Arizona Lawmakers Approve Complementary Bitcoin, Crypto Bills If approved by the governor, Arizona could become the first state to solidify the regulation of crypto and digital assets on the frontier. Arizona lawmakers have passed two related bills that could make the state a leader in state-level government cryptocurrency investing, provided they are signed into law by Governor Katie Hobbs. The Arizona House passed Senate Bill 1025 on its third reading. Formally known as the "Arizona Strategic Bitcoin Reserve Act," the House approved it 31-25-4 on Monday. S.B. 1373, a companion bill establishing a "Digital Assets Strategic Reserve Fund," passed with a 37-19-4 vote in the House on the same day. The Arizona Senate passed both bills earlier on February 27. After passing both chambers without amendments, the bills await formal transmittal to Governor Hobbs' desk.
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