Polygon joined Cardano as a top performer, gaining 7.9%. Source
CoinDesk 20 Performance Update: ADA Gains 9.9%, Leading Index Higher from Thursday
Category: ICO
Layer 1 Flare and Decentralized Cloud Firm Red Date Set to Trial Stablecoin Buying for Chinese Nationals in Hong Kong
“With Hong Kong on the cusp of announcing new stablecoin regulations allowing digital currencies on public blockchains, the introduction of this KYC solution trial gives Mainland Chinese residents their first opportunity to legally hold public chain wallets and transact with stablecoins, such as HKDA, a fiat-referenced Hong Kong Dollar stablecoin issued by IDA. This project signals a possible first step in aligning with China’s long-term approach to integrating blockchain technology,” the companies said in a statement. Source
BTC in Price Discovery Mode Following Record High
Traders are eyeing $100,000 as the next level of interest for bitcoin’s price, though there is likely to be a period of consolidation first, according to some analysts. BTC is riding the wave of President-elect Trump’s victory and the Fed’s expected 25 basis-point interest rate cut on Thursday. There are some concerns about a short-term pullback given Trump’s proposed tariffs on China and fiscal concerns like rising national debt. BTC is “defending its top,” Alex Kuptsikevich, senior market analyst at FxPro, told CoinDesk. “In general, we stick to the idea…
Trump’s Victory Brings Musk’s Department of Government Efficiency (D.O.G.E) Plans Closer to Reality, D.O.G.E Memecoin Doubles
“There is going to be a media frenzy about Elon and D.O.G.E,” well-known trader ‘unipcs,’ told CoinDesk in an X message. “His aggressive backing ofTrump and the ‘Department of Government Efficiency’ narrative could have been a deciding factor for a Trump win. Source
Cardano Pumps 16%, Bitcoin Could Pop to $100K After Fed Rate Cut
Majors cryptocurrencies are surging as a bullish backdrop gives traders reason to set a $100,000 price target for BTC in the near term. Source
CEO of Canadian Crypto Holding Returns Safely After Paying $720K Ransom: Report
WonderFi CEO was forced into a vehicle but released after a ransom was paid. Source
Republicans Look Set to Clinch Electoral Sweep, Echoing Polymarket Bets
If these results hold, Democrats would need to sweep their races in California, which has 12 races yet to be called by the AP, as well as win in the other districts they’re leading, to regain the House. Republicans are leading in seven of these races at press time, though some races have just over 52% of their results counted. Source
Detroiters Will Be Able to Pay Their Taxes in Crypto Next Year Using PayPal
The crypto payment option, which will be offered through a “secure payment platform managed by PayPal,” according to the release, is expected to go live in mid-2025. A spokesperson for the city did not immediately respond to questions about which cryptocurrencies Detroit plans to accept, but PayPal only supports a small handful of tokens — bitcoin, ether, bitcoin cash, litecoin, and PayPal’s own stablecoin, PayPal USD. Source
Coinbase Brings Bitcoin to Solana, Spurring High Hopes for DeFi Surge
Coinbase Brings Bitcoin to Solana, Spurring High Hopes for DeFi Surge Source
Intense Competition — Not Technology — Will Fuel Blockchain's Rise to Dominance
Like the internet itself, decentralized networks aren’t always the most efficient tools for some tasks. However, the open, permissionless nature of these networks creates intense competition that often serves customers better than technical efficiency alone, says EY’s Paul Brody. Source