Day: October 24, 2024

Stablecoins Could Be a $5-$10 Trillion Market, Will Be Integral Part of the Global Financial System

Stablecoins are one of the most popular innovations in crypto, bridging government-issued fiat currencies on traditional financial rails with blockchain-based digital assets, facilitating trading and transactions. Taken together their current market cap is about $170 billion. Because of their non-volatile nature combined with blockchain’s speed and near-instant settlements, they are increasingly used for everyday economic activities such as payments and remittances, especially in developing countries with less robust banking systems and rapidly devaluing local currencies like Argentina and Nigeria. Source

Bitcoin (BTC) ETFs Will Soon Hold One Million Tokens, Nearly as Much as Satoshi

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Fueled most recently by major inflows into the funds as bitcoin (BTC) rallies into the election, the ETFs, which only opened for business on Jan. 11 of this year, currently hold roughly 967,459 tokens. With just a modest continuation of inflows, they are likely to cross the one million mark in the next couple of weeks, bringing them into the territory of Satoshi Nakamoto, who owns 1.1 million tokens, per Blockchain.com data. Original

Former US Federal Agent Freed From Nigerian Prison After 8 Months

Tigran Gambaryan, a U.S. citizen and former federal agent detained in Nigeria for eight months, has been released. The charges against him, brought by the Economic and Financial Crimes Commission, were dropped. The release of the Binance executive from one of Nigeria’s notorious prisons followed intense lobbying by U.S. politicians who were urging the Biden […] Source CryptoX Portal

Symmetrical Triangle Breakout Predicts Big Gains

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Este artículo también está disponible en español. The Ethereum price is signaling a potential breakout based on recent price movements. According to Trader Tardigrade, a crypto analyst on X (formerly Twitter), Ethereum could see its value reaching new all-time highs of around $10,000 if it can successfully break out of its current symmetrical triangle formation.  ETH Triangle Breakout Targets $10,000 Trader Tardigrade has predicted Ethereum’s next price target to $10,000 based on an ascending trendline and symmetrical triangle pattern. To be more precise, the analyst has confirmed that the Ethereum…

Breaking Down Information Silos in Web3 With AI

Applied to information silos in Web3, we could conceive a tool that pulls together information from various blockchains, dApps, and exchanges into a single interface. And, taking that interface one step further, why not prompt such an AI aggregator to use this data to provide actionable insights to users? Source

Chainlink Expands to Bitcoin, Helping Original Blockchain With Its Layer-2 Shift

CryptoX is a multi-platform publisher of news and information. CryptoXtrade has earned a reputation as the leading provider of cryptocurrency news and cryptomarket analysis, bitcoin and other cryptocurrencies, blockchain technology, finance and investments. CryptoXtrade have become a known leader in the cryptocurrency information market. We work only with trusted information sources providing latest financial and technological innovations that improves the quality of life of CryptoX readers by focusing on Cryptocurrency and Blockchain. CryptoX Portal

Retail Bitcoin Activity Hits a Low—Cryptoquant Report Explores What Is Next for Markets

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Retail bitcoin investors are slowly making a comeback, though their demand growth continues at a sluggish pace compared to historical standards. Data from Cryptoquant reveals that small-scale investors are still trailing behind their larger counterparts as 2024 unfolds. Cryptoquant Analysis: Can Retail Bitcoin Investors Keep up With the Big Players? As bitcoin (BTC) edges closer […] Original

Retail Surge Sparks Bearish Outlook As Bitcoin Dominance Wanes

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Este artículo también está disponible en español. The cryptocurrency market’s recent dominance by Bitcoin has decreased below 50%, indicating a potential adverse trend as retail activity increases. This change prompts inquiries regarding market dynamics and investor sentiment. Bitcoin’s dominance has been a critical indicator of whether the market is in a bull or negative cycle throughout history. As Bitcoin’s dominance is growing, usually, it means a defensive market where investors would prefer the relatively safer alternative of Bitcoin rather than altcoins. Related Reading Whereas a fall usually means the investor…

Could Trump’s 2024 Victory Send Bitcoin Soaring to $92K? This Bitwise Exec Thinks So

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Bitwise’s head of alpha strategies, Jeff Park, projects that a Trump win in the 2024 U.S. election could push BTC prices toward the $92,000 mark. Park isn’t alone in this prediction; a number of analysts and financial institutions are entertaining similar thoughts. Bitwise Head of Alpha Strategies Jeff Park’s Bold Bitcoin Projection If Donald Trump […] Original