Louisiana has passed a new law that protects Bitcoin and bans Central Bank Digital Currencies (CBDCs). Safeguarding Bitcoin House Bill 488 ensures that Louisiana residents can: Own and use Bitcoin without restrictions Store Bitcoin in wallets for safekeeping Make Bitcoin transactions without additional regulations Rejecting CBDCs The law also prohibits the issuance or use of…
Collaboration vs. Isolation As traditional financial institutions and centralized entities enter the Web 3.0 space, the industry faces a crossroads. Some advocate for collaboration, while others see it as a threat to decentralization. Finding Common Ground Despite fundamental differences, Web 3.0 and traditional entities can find common ground. Just as global superpowers collaborate in areas…
Over a quarter billion dollars worth of Chainlink (LINK) tokens have been transferred to crypto exchanges, according to analyst Ali Martinez. LINK Deposits Surge On June 22nd, 18.77 million LINK tokens, valued at approximately $256.20 million, were sent to exchanges. This has led to a drop in LINK’s price, which is currently trading at $13.03….
Tether, the company behind the popular stablecoin USDT, has announced that it will no longer support the Algorand (ALGO) and EOS blockchains. Community Focus Tether explained that its decision was based on community interest and the need to ensure the safety and efficiency of its stablecoin. The company said it carefully evaluates the security of…
Crypto analyst Benjamin Cowen believes that the price action of gold could indicate an upcoming correction for Bitcoin. Gold’s Breakout in 2019 Cowen points out that in 2019, Bitcoin’s rally ended shortly after gold broke out to new highs. He suggests that a similar pattern may be emerging now. Bitcoin’s Recent High and Gold’s Breakout…
Bitcoin’s Potential Skyrocket SkyBridge Capital founder Anthony Scaramucci believes Bitcoin could reach record highs if his preferred presidential candidate, Joe Biden, wins re-election. He predicts a surge to between $170,000 and $250,000. Biden’s Crypto-Friendly Stance Scaramucci supports Biden, citing his administration’s approval of Spot Ethereum ETFs and potential for future crypto-related legislation. He believes Biden…
Sentiment Shifts to Neutral After the recent Bitcoin crash below $61,000, investors have shifted their sentiment from greed to neutral. The Fear & Greed Index, which measures market sentiment, has dropped to 51. This indicates a decrease in greed compared to yesterday’s value of 55. Bearish Momentum The drop in sentiment is attributed to the…
Dogecoin has taken a hit, dropping by 6.87% in the last day. But this dip might be a blessing in disguise. Enter the Opportunity Zone Dogecoin has entered a historically bullish zone, according to the MVRV ratio. This ratio compares the current market value to the total amount paid for coins in circulation. When the…
Concerns Over Spot Crypto ETFs A report from the Korea Institute of Finance (KIF) raises concerns about the introduction of spot crypto exchange-traded funds (ETFs) in South Korea. These ETFs could: Drain capital from local markets into the volatile crypto sector Increase exposure to crypto risks in the financial system Weaken financial stability Digital Currency…
On-Chain Data Reveals Less Optimistic Outlook Julio Moreno, Head of Research at CryptoQuant, has analyzed on-chain data to assess Bitcoin’s current market sentiment. Bitcoin Bull-Bear Market Cycle Indicator This indicator tracks the distance between the P&L Index (a valuation indicator) and its 365-day moving average. When the indicator is above zero, it suggests a bull…
