Ferrari Expands Cryptocurrency Payment System to Europe

Ferrari is expanding its cryptocurrency payment system to Europe by the end of July, following its successful launch in the US in October 2023. The new system will allow European dealers to accept crypto payments, which will be instantly converted into traditional currency to avoid handling digital assets directly. This initiative aims to attract younger investors and expand Ferrari's customer base. The company is working with crypto payment providers to ensure secure transactions and verify fund sources. Ferrari has not yet announced which cryptocurrencies will be supported in Europe.

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According to BlockBeats, on July 28, Andrei Grachev, a partner at DWF Labs, announced via a tweet that the company is currently in discussions with one of the largest payment systems in Central Asia.
Grachev emphasized that one of the key pillars of DWF Labs' development strategy is the acquisition of infrastructure. This approach aims to provide compliant, cost-effective, and efficient fiat-to-cryptocurrency trading services in emerging markets.

Many people misunderstand how leverage works in trading. For example, using 100x leverage means you can control a large position with a small amount of money. If you have $100 and use 100x leverage, you control $10,000 worth of assets, with the exchange lending you $9,900. A small market move can wipe out your $100 margin if you’re not careful.

Influencers often show high returns from trades to attract attention, but these can be misleading. They might use small positions or high leverage to make their results look impressive while minimizing their own risk. Always be cautious and understand that high leverage can lead to big losses as well as big gains.

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Morning news from CrypticNews Hub
1. Biden: If health issues arise, he will consider withdrawing from the elections;
2. Biden has tested positive for the new coronavirus, increasing the likelihood of his withdrawal from the elections to 65% according to Polymarket;
3. Launch of 9 #Ethereum spot ETFs announced;
4. The U.S. Securities and Exchange Commission has approved document 19b-4 for the Ethereum spot mini ETF by Grayscale.
5. Market News: American financial giant State Street explores creating stablecoins and deposit tokens;
6. StarkWare launches OP_CAT technology in Bitcoin's Signet test environment;
7. Data leak incident at Fractal ID affects Gnosis Pay and other cryptocurrency projects;
8. Grayscale: Market sentiment shifts due to expectations of a more favorable regulatory environment;
9. Vitalik Buterin opposes basing political voting on whether to "support cryptocurrency";
10. CryptoQuant: Bitcoin's rise may be restrained by the market capitalization of stablecoins.

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According to Foresight News, Arbitrum has approved a Long-Term Incentive Plan (LTIP) grant proposal, allocating two million ARB to Synthetix. The grant is intended to expand the scale of Synthetix V3 and Perps V3 on the Arbitrum platform and provide incentives for traders and stakers. The move is part of a broader strategy to enhance the functionality and reach of the platform, and to encourage more active participation from users. The allocation of ARB tokens will be used to stimulate growth and incentivize user engagement within the platform. The details of how the tokens will be distributed or the specific incentives they will provide have not been disclosed.

According to Foresight News, the authorized supply of Tether (USDT) on the Ton blockchain has increased to $130 million. The data was revealed on Tether's transparency page. This development indicates a growing adoption of the stablecoin on the Ton platform.

According to Foresight News, Plaid and Sign Protocol have teamed up to launch a blockchain-based open banking solution, Proofs.Money, which will be piloted on Base. This collaboration introduces the innovative concept of a 'unified financial identity' that allows blockchain users to generate unified financial reports and detailed information, which can be used in both on-chain and off-chain environments. This new solution aims to revolutionize the way financial transactions are conducted, providing a more secure and transparent platform for users.

According to PANews, Meme category tokens have experienced a substantial increase. The token MEW rose to $0.004826, marking a 24-hour increase of 27%. DOGE, another token, saw a rise to $0.1504, a 24-hour increase of 12.5%. PEPE also experienced a surge, reaching $0.000008722, a 24-hour increase of 11.8%.

The global cryptocurrency market cap now stands at $2.21T, up by 2.13% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $58,850 and $63,595 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $63,260, up by 6.56%.
Most major cryptocurrencies by market cap are trading higher. Market outperformers include REZ, OM, and CKB, up by 23%, 21%, and 20%, respectively.

According to U.Today, veteran commodities trader Peter Brandt has made a bullish prediction for Bitcoin, forecasting that the cryptocurrency could reach $125,000. This year marks Brandt's 53rd anniversary of his first futures market trade, and he has described Bitcoin as 'the trade of a lifetime'. He stated that there has never been and may never be another market like Bitcoin.

According to U.Today, crypto analyst Ali Martinez has predicted a potential 4,000% rally for Cardano (ADA). This optimistic forecast comes in the wake of recent price increases for ADA. Martinez has emphasized that ADA’s current price movement is following historical patterns. He suggests that the recent 50% drop in the price of the cryptocurrency could be a golden opportunity for ADA, based on observations from past trends.

According to U.Today, Dogechain, a significant noncustodial wallet in the Dogecoin (DOGE) ecosystem, is closing its operations. This unexpected development has led to confusion among many Dogecoin supporters, prompting a user known as Astro to voice his concerns. Astro pointed out that Dogechain, which has been operational for over a decade, is suddenly shutting down within a month, and the reasons behind this decision remain unclear to most.

According to U.Today, Cardano, a prominent name in the cryptocurrency industry, has been the subject of criticism and negative sentiment. A key figure in the Cardano community, known as Cardano Whale, suggests that this negativity is not due to natural skepticism but is the outcome of deliberate misinformation campaigns. These campaigns are believed to be rooted in the threat Cardano posed to established projects like Ethereum from its inception, considering Charles Hoskinson's significant role in Ethereum's development.

According to BlockBeats, Tether, the issuer of the stablecoin USDT, has seen its total market value exceed that of Boeing. As of May 4, Tether's market capitalization reached $110.78 billion, surpassing Boeing's total market value of $110.37 billion. This significant achievement places Tether at the 148th position in the global asset market value ranking.

According to Foresight News, Marathon Digital, a mining company listed on NASDAQ, reported a 21% year-on-year increase in Bitcoin (BTC) production in April. The company produced a total of 850 BTC and sold 600 BTC to support monthly operations, manage finances, and for general corporate purposes.

According to PANews, Tesla has announced that it will now accept Dogecoin as a payment method for some of its products. The company stated on its website that products eligible for Dogecoin payment will display the Dogecoin symbol next to the order button. To make a purchase, buyers simply need to transfer Dogecoin to Tesla's Dogecoin wallet and make the payment. This move marks a significant step in the adoption of cryptocurrencies in mainstream commerce

According to CryptoPotato, Bitcoin's price, which recently dipped, has started to recover, sparking speculation about a potential rally in May. Despite a promising start to the year and a surge to an all-time high price in March, Bitcoin's progress stalled in April. The primary cryptocurrency began May on a shaky note, declining to $56,800, the lowest level in nearly two months. However, the last few days have been slightly more optimistic, with Bitcoin reclaiming some lost ground and briefly spiking towards the $72k mark.

According to CryptoPotato, Ethereum's price is showing signs of recovery after failing to break the $4,000 resistance level. The cryptocurrency has been making lower highs and lows within a descending channel, but is now climbing back above the $3,000 level and the midline of the channel. If the market successfully recovers back to these levels, a breakout above the channel and a continuation toward $4,000 and even higher prices can be anticipated.

On May 04, 2024, 19:53 PM(UTC). According to Binance Market Data, BNB has crossed the 590 USDT benchmark and is now trading at 590 USDT, with a 1.74% increase in 24 hours.

always trust your own instant. do not trust these self proclaimed analysts who were saying that bitcoin will dip to 42k.