Two Democratic senators, Elizabeth Warren and Jacky Rosen, have urged Federal Reserve Chair Jerome Powell to cut interest rates. They argue that high rates are hurting the economy by: Increasing Housing Costs Interest rates drive up rental prices, mortgage payments, and construction costs. This limits housing supply and keeps prices high. Raising Auto Insurance Costs…
A popular crypto analyst believes Bitcoin (BTC) will dip one last time before soaring to record highs. Bull Pennant Pattern Bluntz, a pseudonymous analyst, says BTC is forming a “bull pennant” pattern on its three-day chart. This suggests a final leg down to around $60,000, setting the stage for a rally above $80,000. $87,500 Target…
Zimbabwe is making a bold move into the world of cryptocurrencies by seeking public input on how to regulate them. This is a significant step for a country that has faced currency challenges in the past. From Economic Struggles to Digital Innovation Zimbabwe’s economic history has been marked by currency crises, including the 2019 crash….
EVM Compatibility on XRPL RippleX has launched an XRPL EVM sidechain, bringing Ethereum Virtual Machine compatibility to the XRP Ledger. This allows developers to use Ethereum tools and DApps on XRPL, expanding its ecosystem and utility. Axelar Bridge The sidechain uses Axelar as a bridge, allowing seamless asset transfers between XRPL and the EVM sidechain….
Risk Aversion Prevails Bitcoin’s price dropped sharply on Tuesday, falling below $68,000. This decline reflects the cautious mood in the broader financial market, as investors await the release of key economic data and the upcoming Federal Open Market Committee (FOMC) meeting. FOMC Meeting and Inflation Concerns The FOMC meeting will decide on interest rates, which…
Digital currencies like Bitcoin have revolutionized the financial world. Now, China’s Industrial and Commercial Bank of China (ICBC), the world’s largest bank, has praised the growth of these currencies. Bitcoin’s Scarcity Like Gold ICBC believes Bitcoin’s limited supply (21 million coins) is similar to gold’s scarcity. This comparison is based on Bitcoin’s mathematical design, which…
Scalability Bottleneck DePIN excels in decentralization and security, but scalability remains a hurdle. As networks expand, transaction volume increases, particularly in IoT applications where real-time data exchange is crucial. The current blockchain infrastructure struggles to handle the scale of a mature DePIN ecosystem. Limited Interoperability DePIN’s integration with other applications and networks is vital. However,…
Crypto analyst Michaël van de Poppe warns that the popular memecoin Floki (FLOKI) could face a significant correction of up to 40%. After a rapid surge of over 13x in recent months, Poppe believes the risk of a sharp pullback outweighs the potential for further gains. Fantom (FTM) Poised for Support Retest Poppe also expects…
Binance Labs, the investment arm of the world’s largest crypto exchange, has announced a new investment in Zircuit, a Layer-2 (L2) network that uses artificial intelligence (AI) for enhanced security. AI-Enabled Security Zircuit’s L2 combines rollup technology with zero-knowledge proofs to create fast, low-cost, and Ethereum Virtual Machine (EVM)-compatible transactions. The network’s AI-powered “sequencer level”…
Dave the Wave, a trader known for predicting the May 2021 crypto crash, believes Bitcoin (BTC) is still on an upward trajectory. BTC Above Key Support Level According to Dave the Wave, as long as Bitcoin remains above a diagonal support level, it can continue to rise. This level has supported BTC since October 2023….
