Pakistan moves to regulate cryptocurrency, CBDCs as legal tender

🚀 Pakistan's crypto scene might just get a glow-up! On Nov. 4, the State Bank of Pakistan (SBP) proposed a policy package to legalize digital assets like cryptocurrencies. If approved, this could mean a digital rupee is on the horizon! 🌐 - The Monetary Policy Committee (MPC) suggests letting state banks issue digital currency. - Penalties for unauthorized issuers are also on the table. - A 2.5% interest rate cut sweetens the deal, hinting at economic optimism. With a potential shift from crypto bans to blockchain booms, what are your thoughts? Drop a comment!

**Pakistan Eyes Legalizing Digital Assets** The State Bank of Pakistan (SBP) is considering a groundbreaking move to legalize digital assets, including cryptocurrencies, as legal tender. On Nov. 4, the Monetary Policy Committee (MPC), led by SBP governor Jameel Ahmad, proposed amendments to allow state banks to issue digital currency. These changes could pave the way for a central bank digital currency (CBDC) and enable blockchain-based transactions. In a shift from previous anti-crypto sentiments, the MPC also announced a 2.5% interest rate cut, citing economic improvements. This could signal a positive outlook for Pakistan's digital assets market if the proposals are approved.

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XVG Price Action: Examining Current Trends and Momentum $XVG {future}(XVGUSDT) {spot}(XVGUSDT) 200 SMMA: The 200-period SMMA is at 0.003659, currently above the price, acting as a resistance level. The price is trading below this level, indicating a bearish sentiment unless a breakout occurs above it.VWAP: The VWAP is positioned at 0.003318, close to the current price of 0.003249, suggesting a neutral sentiment with potential for movement depending on volume changes. 2. RSI (Relative Strength Index):The RSI is at 38.74, nearing oversold territory, which could indicate potential for a reversal if buying pressure increases. However, the sentiment remains bearish as long as it stays below 50. 3. MACD (Moving Average Convergence Divergence):The MACD line is slightly negative at -0.000012, below the signal line, indicating bearish momentum. The histogram also shows negative values, supporting this trend. A positive crossover with the signal line could suggest a shift in sentiment if bullish momentum increases. 4. Support and Resistance Levels: Immediate Support: Around 0.003249, aligning with the current price level, which serves as a key short-term support.Key Resistance: Around 0.003659 (aligned with the 200 SMMA), marking a significant resistance. A breakout above this level could indicate a potential shift toward a bullish trend. Bullish Scenario: If XVG/USDT breaks above the 0.003659 resistance, it could aim for the next resistance around 0.0038.Bearish Scenario: Failure to hold above the 0.003249 support level may lead to further declines, with the next support likely around 0.0031. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making any investment decisions.

🚨 BRICS Expands Global Reach: 13 Nations Granted Partner Status! 🚨 🌍 BRICS is making waves in the global economy! In a strategic move, 13 countries have been welcomed as "partner" nations, reinforcing BRICS' mission to expand its influence, strengthen currency networks, and reduce reliance on the U.S. dollar. Here’s the full scoop: 🔹 BRICS Welcomes New Partners: Indian Foreign Ministry spokesperson, Randhir Jaiswal, confirmed that 13 nations received partner status after the BRICS summit in Kazan. Partner status differs from full membership but signals these nations' commitment to future BRICS initiatives. 🔹 The Expanded BRICS Family: As of Jan. 1, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE joined as full BRICS members, making it a 10-member bloc alongside Brazil, Russia, India, China, and South Africa. Newly designated partner nations include: Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. 🔹 Key Outcomes from the Kazan Summit: 1. 📝 Kazan Declaration: Adopted at the summit, highlighting BRICS' ambition to foster a more multipolar world. 2. 💱 New Payment Network: Leaders committed to developing a payment network for local currencies, reducing dependency on the USD. 3. 🤝 Investment Platform Proposal: Russian President Vladimir Putin proposed an economic platform to boost investment among BRICS nations and the Global South/East. Focus on funding infrastructure and technology projects to promote secure, independent financial pathways. 🔹 The Future of BRICS BRICS is set to lead global financial collaboration by enhancing trade in domestic currencies and supporting low-cost, rapid payment systems. As emerging economies grow stronger, this alliance positions BRICS as a driver for sustainable economic development worldwide. 💬 What are your thoughts on this expanded BRICS alliance? Could this be a game-changer for global finance? #USElections2024Countdown #TetherAEDLaunch #BTCMiningRevenue

#Dogecoin price slumps after recent surge: How low could it go? Dogecoin’s price action shows volatility, with indicators suggesting where DOGE might head next amidst shifting market sentiment. Dogecoin has continued to see a positive funding rate despite its decline. Price has dropped by almost 5% as of this report. Dogecoin’s recent price action has been dramatic, with the popular meme coin surging to one of its highest points in the last month before experiencing a sharp reversal. This volatility has left investors questioning how low the asset might drop if this bearish trend continues. Analyzing DOGE’s price trend, the NVT (Network Value to Transaction) ratio, and overall market sentiment provides some insight into the potential direction of the coin in the coming days. $DOGE #CryptoAMA

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🇺🇸 With US election results ready to being pouring in November 5th, crypto traders are gearing up for volatility and unpredictability. With Bitcoin hovering at $67.9K, there has been a large spike in mentions related to Donald Trump, particularly on X.

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BITCOIN MARKET POISED FOR STRONG RECOVERY The Bitcoin market is looking poised for a strong recovery, with several indicators suggesting a bullish trend. Historically, the fourth quarter has been a strong period for Bitcoin, with an average return of 23.3% ¹. This, combined with the recent breaking of significant resistance levels, could potentially set the stage for parabolic growth . Key Factors Contributing to the Recovery: Institutional Accumulation: U.S. Bitcoin ETFs purchased 17,941 Bitcoins in September, exceeding the number of new Bitcoins mined during the same period, indicating significant institutional demand . Mining Profitability Recovery: Mining profitability has rebounded, with hash price reaching a two-month high, signaling a strengthening of Bitcoin's underlying fundamentals . Derivatives Market Momentum: The derivatives market shows renewed momentum, with rising open interest and reduced leverage across major exchanges . Additionally, experts predict that macroeconomic factors, such as potential Federal Reserve rate cuts and liquidity injections from the People's Bank of China, could act as catalysts for Bitcoin's continued growth .

Last Week’s Crypto Market: Key Developments and Updates

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The market hates uncertainty. That’s why, as we approach the elections, we’re seeing risk reduction across the board. The truth? The election outcome will likely only impact the initial market reaction, leaving the overall trajectory untouched. And let’s be real—BlackRock doesn’t care who’s in charge, because ultimately, BlackRock is in charge. 🕴💼 #MarketDownturn #BlackRock's #BullorBear #marketreaction

The $TROY /USDT 15-minute chart reveals an interesting setup as it hovers around a key level. Currently trading at 0.004045, TROY has seen a remarkable surge, yet it’s now facing potential resistance at 0.004377. This level serves as a significant barrier, where a break above could ignite further bullish momentum. On the downside, strong support is observed at 0.003782, providing a cushion for any pullbacks. Traders might consider entering a position around the current price, with Take Profit (TP) targets set incrementally at 0.004300, 0.004400, and 0.004500. For prudent risk management, a Stop Loss (SL) should be positioned slightly below the support at 0.003700. As I always said , close monitoring of these levels will be essential to adapt quickly to any shifts in momentum. #Therapydogcoin #USElections2024Countdown #BTCMiningRevenue #BTCMiningRevenue {spot}(TROYUSDT)

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🚨 TIGHTENING REGULATIONS? Tether Investigation Could Shape Crypto Future! Tether’s probe is a hot topic. Could it lead to more restrictions? 💭 What’s your outlook on crypto regulation? #USElections2024Countdown #TetherAEDLaunch #USNFPCooldown #Stablecoins #CryptoLaw

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$SANTOS /USDT is experiencing significant bullish momentum on the 15-minute chart, currently trading at approximately 4.315. After a remarkable surge, the asset reached a high of 4.439, indicating strong buying interest. Key resistance is established at this level, while a solid support zone can be identified around 4.026, which traders should monitor closely. For those looking to enter the market, an optimal entry point could be around 4.300, taking advantage of the upward momentum. In terms of profit-taking, it would be wise to set Take Profit (TP) levels at 4.400 for TP1, 4.450 for TP2, and a more ambitious target of 4.500 for TP3. A Stop Loss (SL) should be placed at approximately 4.000 to mitigate risk in case of unexpected downturns. Given the current market conditions, SANTOS appears poised for continued upward movement, making it an exciting opportunity for traders to capitalize on potential gains. #Therapydogcoin #TetherAEDLaunch #USElections2024Countdown #NovemberMarketAnalysis {spot}(SANTOSUSDT)

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$ENS is steadily gaining momentum, confirming its support at $13.90. It is on track to achieve a future target of $28.70, driven by substantial trading volume that reflects bullish market sentiment—especially if Bitcoin maintains its upward momentum in the near future! We've tracked 280% gains up to now.

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The #Bitcoin 200 Day moving average an all time high of $40,739!

Top 100 24h Gainers 🚀 DOGE        $0.1548            +6.52% ENA          $0.3422            +5.31% ZEC          $37.90              +4.79% MOG          $0.00000171    +4.18% XMR          $160.76            +3.59% Top 100 24h Losers 🔻 GIGA        $0.0644            -6.24% POPCAT    $1.23                -5.83% KAS          $0.1018            -5.80% RUNE        $4.78                -5.60% OP            $1.33                -5.00%

🚀 Michigan's state pension fund is diving deeper into the crypto pool! According to a recent SEC filing, they've added 460,000 shares each of Grayscale's Ethereum Trust and Ethereum Mini Trust to their portfolio. This adds to their existing ARK 21Shares Bitcoin ETF holdings, which have grown by $1 million since June. With a total crypto investment of around $18 million, Michigan joins a growing trend of pension funds embracing digital assets. Even South Korea and Florida are getting in on the action, proving that crypto isn't just for techies anymore!

🚀 November 2024 is here, and it's time to explore the crypto landscape! 🌐 1️⃣ Bitcoin remains the king with its robust market value and potential for growth. Are you hodling? 💪 2️⃣ Solana is shining bright with its lightning-fast transactions and scalability. Could it be the next big thing? ⚡ 3️⃣ Near Protocol is making waves with its innovative tech. Are you ready to dive in? 🌊 4️⃣ BlockDAG is emerging as a dark horse with unique growth potential. Will it surprise us all? 🐎 Share your thoughts and predictions in the comments! Let's get the discussion rolling! 📈

🚀 Gemini is taking crypto to the stars with its new global campaign, "Go Where Dollars Won’t"! 🌌 Launching in major cities like NYC, LA, Miami, Dallas, and London, the campaign envisions a future where crypto powers incredible adventures, from Martian safaris to skiing on ice asteroids. - Developed with Tombras and Quan Media, featuring stunning art by Matt Griffin. - Catch the futuristic scenes at iconic spots like Madison Square Garden and Heathrow Airport. - Plus, Gemini's expansion in Singapore is set to boost crypto services! What do you think? Share your thoughts in the comments!

The State of Michigan Retirement System has expanded its cryptocurrency investments, according to a recent SEC filing. As of September 30, the pension fund holds 460,000 shares each in the Grayscale Ethereum Trust and Ethereum Mini Trust. This adds to their existing stake in the ARK 21Shares Bitcoin ETF. Combined, their Bitcoin and Ether investments are valued at around $18 million. Notably, the value of their Bitcoin ETF shares has increased by $1 million since June. This move aligns with a broader trend of government entities exploring crypto investments for pension funds, as seen in South Korea and Florida.

🚀 Crypto Buzz: FreeDum Fighters (DUM) presale hits $420K, sparking excitement ahead of tomorrow's election! Analysts are buzzing with predictions, some even eyeing a 100x surge! 🎉 - FreeDum Fighters, a PolitiFi token, blends politics with satire and rewards. - Staking pools offer a unique twist, letting users bet on election outcomes with MAGATRON vs. Kamacop 9000. - Weekly debates offer free DUM tokens, fostering community engagement. Join the conversation! Will DUM soar post-election? Share your thoughts below! 💬

🚀 Exciting news for crypto enthusiasts! The SEC has begun reviewing Grayscale's application to convert its Digital Large Cap Fund into an ETF, marking a significant step in bringing multi-token exchange-traded products to U.S. markets. 📈 - NYSE Arca's Form 19b-4 proposes expanding ETPs beyond BTC and ETH. - The review could take up to 240 days. - If approved, this would be the first multi-token ETP on a national exchange. What are your thoughts on this potential milestone? Share in the comments!

**Crypto Twitter: A Double-Edged Sword** In a recent Cointelegraph video, experts highlight the hidden risks of seeking financial advice on X, formerly Twitter. While it's a hub for crypto enthusiasts, the platform is rife with market manipulation and scams. - Influencers with large followings can sway token prices through "pump-and-dump" schemes, leaving everyday investors with nearly worthless assets. - Emotional connections and projected success lure followers into risky investments without proper research. - A lack of transparency is a major issue, as many influencers don't disclose conflicts of interest, misleading their audience. For more insights, watch the full video on Cointelegraph's YouTube channel.

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🇺🇸 State of Michigan pension fund just reported holding $7 million in #Bitcoin ETF 🤯 PENSION FUNDS ARE HERE 🚀

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