Bitcoin [BTC] has been consolidating in the 62K — 64K range for the past few days without any macro catalysts pushing the market higher.
Quiet price action was also seen in Ethereum [ETH] and Solana [SOL] as they stabilized near the $2,600 and $150 levels, respectively.
However, US GDP data, comments from Chairman Jerome Powell, and US inflation data due out this week could trigger some volatility.
Kamala Harris calls for US dominance in ‘AI and blockchain’
Vice President Kamala Harris has made her first statement about blockchain and digital assets in general.
In a speech at the Economic Club of Pittsburgh, Harris reaffirmed that the United States needs to “remain dominant” in the emerging technologies that will shape the next century. She said,
“We will… still dominate AI, quantum computing, blockchain, and other emerging technologies.”
The crypto community welcomed her support for digital assets, but some called for more concrete action.
Kristin Smith, CEO of the Blockchain Association, a collective voice for the industry, is calling for the replacement of SEC Chairman Gary Gensler and an end to Operation Choke Point 2.0 (which restricts banking access for crypto companies) regardless of who wins the US election.
This could be a win-win scenario for the industry, especially since Harris and Trump have a nearly even lead in the US election. According to prediction site Polymarket, Harris is leading Trump by just 1 point.
PayPal Supports Crypto for US Businesses
US businesses can now buy, hold, or sell cryptocurrencies through a PayPal business account. This marks a new milestone for crypto adoption and use.
Reacting to the update, Jose Fernandez da Ponte, PayPal’s vice president of blockchain, said that entrepreneurs have been asking for this service.
“Business owners are increasingly expressing a desire to have the same cryptocurrency capabilities as consumers. We are excited to meet that need by offering this new service that makes it easy for them to access digital coins.”
PayPal will join a growing list of providers offering crypto payments to businesses in the United States, such as Coinbase Commerce and BitPay.
What's next for HMSTR after airdrop and listing?
Telegram-based Tap-to-Earn game, Hamster Combat, has begun distributing 131 million HMSTR Tokens to over 300 million users.
According to the Ton blockchain, the network that supports this Token, this is the largest airdrop in crypto and a major stress test for the platform.
However, there were significant concerns from the community about low payouts throughout the campaign.
With listings on major exchanges and user concerns, analyst Ryan Lee from Bitget Research told TinTucBitcoin that the HMSTR token could experience major volatility.
“In the short term, the price of HMSTR may experience large fluctuations… due to speculative trading and market fever…, but after speculators take profits, there may be a price decline.”
He added,
“In the medium to long term, the price will depend on the actual progress of the project and user confidence.”
In the meantime, the game has announced a 2025 roadmap, which includes integration with desktop games and new titles. Whether they can win back users after the airdrop campaign concerns remains to be seen.
