G.M Frens !
š° Today's Crypto and Defi Rundown: All the must-know updates in one place! š
News š
ā¢ š Bitcoin surged to a high of $62,500 in Asian trading after the Fed's 0.5% interest rate cut, pushing the total crypto market cap above $2.25 trillion. Altcoins like SUI, Avalanche, and Cardano also recorded notable gains.
ā¢ šø The Federal Reserve starts a new rate cut cycle, reducing rates by 50 basis points to 4.75%-5.00%, the first such move since March 2020. This decision aims to support economic growth amid a robust economy.
ā¢ āļø U.S. lawmakers criticize SEC Chairman Gary Gensler for politicizing cryptocurrency regulation, creating uncertainty in the market.
ā¢ š Blockchain analysis firm Glassnode reports a stagnant Bitcoin market, citing minimal capital inflows and outflows.
ā¢ š¦ The Bank for International Settlements (BIS) partners with major banks on the Agora blockchain initiative to reform cross-border payments.
ā¢ šµ Tether reveals it holds $97.6 billion in U.S. Treasury bonds, making it the 18th largest holder globally, surpassing nations like Germany and Australia.
ā¢ š Donald Trump uses Bitcoin to purchase a burger at a New York restaurant, marking a first for a former U.S. president in a crypto transaction.
ā¢ š Top crypto losers include KuCoin token, Monero, and CKB - While the majority of the market is rallying, a few tokens like KCS, Monero, and CKB posted losses today.
ā¢ š Crypto market cap climbs to $2.14 trillion - The overall cryptocurrency market has rallied, reaching $2.14 trillion, with altcoins like Solana, XRP, and Ethereum posting gains.
ā¢ š Fantom rallies 16.08% to $0.6631 - Fantom continues its upward trend with significant price increases as market optimism grows.
ā¢ š± Solana unveils āSeeker,ā its second mobile device. The Solana network launched its second smartphone, showcasing its enhanced features and broader use cases beyond just crypto. Solana's price saw a modest rise following the news.
ā¢ š¼ Ethereum rebounds, climbing 4.29% to $2,400 - Ethereum continues its recovery in the market, with ETH gaining over 4% and reaffirming its place as a major altcoin.
ā¢ š Ripple wallet moves 100 million XRP amid regulatory concerns - A significant movement of XRP tokens has sparked interest, especially in the context of ongoing legal battles and regulatory scrutiny.
ā¢ š Popcat surges by 21.65% to reach $0.8702 - Popcat token has shown impressive gains in the last 24 hours, joining the ranks of top performers in the market.
ā¢ š Sei Network leads today's gainers, rising over 22% - Sei token has shown strong recovery after a bearish period, becoming one of the top gainers today.
ā¢ āļø KuCoin token sees a drop of 3.64% - KCS, the native token of the KuCoin exchange, witnessed a price decline despite broader market optimis
ā¢ š Ethereum's dApp volumes have dropped by 19%, signaling concerns for its value accretion narrative.
ā¢ š Bitcoin miner Cathedra shifts its strategy toward Bitcoin accumulation as optimism grows for the crypto market.
ā¢ š ļø The Bank of Japan and BIS launch a pilot for a central bank digital currency, testing its use in cross-border payments.
ā¢ š§āāļø Coinbase CEO Brian Armstrong reiterates calls for clear crypto regulations in the U.S. amid increasing legal battles with the SE
ā¢ š Chainalysis' latest report shows crypto crime is on the rise, with ransomware attacks accounting for a significant portion of 2024's illicit activities.
Stay informed, stay ahead! š
See u soon š
Maboo :)
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