Day: December 8, 2023

What Is USDC?

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Stablecoins like USDC have become a cornerstone in the cryptocurrency ecosystem, offering unique stability and reliability. This article provides an in-depth exploration of the USDC Coin, offering you a detailed understanding of its functions, market dynamics, and the organization behind it, particularly Circle USDC. As you navigate through this guide, you’ll gain insights into the USDC price and its stability, explore whether USDC is fully reserved, and understand its role and impact within the broader crypto ecosystem. What Is USDC? An Overview USDC, or USD Coin, stands as a paradigm…

Solana-Based Meme Coin Outperforms Dogecoin, Shiba Inu To Become 3rd-Largest

BONK, a Solana-based meme coin, has continued to outperform the likes of Dogecoin and Shiba Inu over the last week. As the SOL price has rallied, so has its ecosystem coins continued to rise. This has led to a Solana-based meme coin becoming the third-largest meme coin in the space. BONK Meme Coin Beats Out PEPE For Third Place Despite BONK debuting on the meme coin scene months before PEPE, the latter had been able to quickly capture a larger market share and eventually became the third-largest in the space.…

Elon Musk misquotes Bitcoin self-custody mantra

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Elon Musk, CEO of Tesla and SpaceX, engaged with Twitter and Block co-founder Jack Dorsey regarding the importance of self-custody in cryptocurrency. Musk responded to Dorsey’s announcement of Bitkey, a self-custodial Bitcoin (BTC) wallet from Block, but made a minor error in his reference to a well-known crypto adage. Not your keys, not your wallet, as they say — Elon Musk (@elonmusk) December 7, 2023 The correct phrase, often cited by crypto enthusiasts, is “not your keys, not your coins.” This saying highlights the belief that personal control over one’s…

2 Reasons Why An Ethereum Mega Bull Run Is Inevitable

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While the recent Bitcoin and crypto momentum is cooling off, Ethereum (ETH) rejects lower lows, especially against Bitcoin (BTC). Taking to X on December 8, decentralized finance (DeFi) researcher DefiIgnas shared insights that suggest ETH could be on the verge of a rally that would potentially see the second most valuable coin usurp BTC’s current position as the best-performing asset.  Reasons That Might Drive Ethereum Bulls The researcher observed that ETH is down 24% versus BTC in 2023. However, multiple fundamental indicators show that this is about to change. First,…

Crypto lawyer wants to depose Changpeng Zhao for civil case

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Adam Moskowitz, who has been the lead attorney in a number of civil cases involving crypto firms, filed a motion to take a deposition from former Binance CEO Changpeng “CZ” Zhao. In a Dec. 8 filing in United States District Court for the Southern District of Flordia Miami Division, Moskowitz said Zhao’s testimony would be “crucial to the claims and defenses of all parties” involved. The law firm filed the motion as part of a $1 billion lawsuit against Zhao, Binance, and crypto influencers, which a court ordered stayed in…

Palau’s Ripple-supported stablecoin pilot achieves positive results

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The first phase of the Palau Stablecoin (PSC) Program has been declared a success by the country’s Ministry of Finance. More work on the United States dollar-pegged national stablecoin is planned, with the goal of introducing the PSC on a national scale, according to a report released on Dec. 7. The three-month PSC project was carried out with the participation of Ripple and used the XRP Ledger central bank digital currency (CBDC) platform. The Finance Ministry recruited 168 volunteers from among government employees, who were able to spend 100 PSC…

Why is Solana (SOL) price up this week?

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Solana’s native token (SOL) surged by 17% between Dec. 7 and Dec. 8, reaching its highest level since May 2022. SOL’s fate changed dramatically on Dec. 1 when Brian Armstrong, CEO of Coinbase, revealed a plan to integrate the Solana network, including its tokens, although no specific date has been provided. This news sparked interest in Bonk (BONK), a Solana SPL meme token listed on Bybit, KuCoin, and Solana’s decentralized exchange, Orca, which gained 236% between Dec. 1 and Dec. 8. On Dec. 6, Coinbase exchange announced the listing of…

VanEck Forecasts $2.4 Billion Inflows In Q1 2024

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The crypto market is on the brink of a potentially game-changing shift, as investment management firm VanEck predicted. In a recent analysis, VanEck forecasts a substantial inflow of funds into Bitcoin spot exchange-traded funds (ETFs), expecting more than $2.4 billion to be injected in the first quarter of 2024 alone. This bullish prediction aligns with the anticipated launch of the first Bitcoin spot ETF in the US, which could positively change the crypto landscape. Bitcoin Bullish Forecast This forecast emerges against a backdrop where investors are increasingly gravitating towards ‘hard…

BlackRock Bitcoin ETF seed capital, HashKey targets market makers, and more

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The countdown is underway for the United States Securities and Exchange Commission (SEC) to decide on approving the first spot Bitcoin exchange-traded fund (ETF) in the United States. After several delays, the regulator’s final deadline is approaching, with market participants anticipating a decision in early January 2024. In another sign that a green light may be forthcoming, companies awaiting approval have regularly met with SEC officials over the past weeks, discussing their proposals and making adjustments as requested. If approved, the biggest cryptocurrency will be traded on the spot market…