vendredi 31 janvier 2025
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Trump Media targets crypto investments with push into financial services
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mardi 28 janvier 2025
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vendredi 24 janvier 2025
Why is Solana Up? Blockchain Activity Soars Following TRUMP Memecoin Launch
Cryptocurrency Solana (SOL) experienced an astonishing surge in its stablecoin market, driven by an unlikely catalyst, TRUMP, a memecoin tied to former U.S. President Donald Trump.
This meme-driven frenzy has propelled Solana's total stablecoin supply to an unprecedented $10 billion, doubling in just a few weeks. As the TRUMP coin gained traction on Solana's decentralized exchanges (DEX), it sparked a wave of liquidity inflows, Coindesk reported.
Solana Stablecoin Market
Solana, a high-speed blockchain known for its low-cost transactions, has recently become the focal point of a massive increase in stablecoin liquidity.
Data from Artemis Terminal shows that Solana's total stablecoin supply has skyrocketed to $10.5 billion, marking a twofold increase since the start of January. Leading the charge is Circle's USDC, which experienced its circulation surpassing $8 billion, adding over $4 billion in just this month alone.
Meanwhile, Tether's USDT supply reportedly more than doubled, reaching $2 billion from a mere $917 million. Stablecoins like USDC and USDT are essential to the cryptocurrency ecosystem, providing liquidity for trading on decentralized platforms.
With these tokens now flowing in greater volumes, Solana's blockchain has become a thriving hub for crypto trading. The tipping point for this meteoric rise came with the January 17 launch of TRUMP coin, a memecoin tied to Donald Trump, on Solana's decentralized exchange Meteora.
Impact of TRUMP Memecoin
While it initially traded against USDC, the excitement around the token quickly translated into massive demand for Solana's stablecoin. The TRUMP coin's introduction came at a time when Solana's ecosystem was already seeing heightened activity following crypto-friendly developments.
However, the memecoin created a frenzy of its own, igniting record trading volumes across DEXs and pushing Solana into the limelight. As a result of this increase in on-chain trading activity, Solana-based decentralized exchanges set a new daily volume record of $25 billion.
This represents 74% of the total DEX trading volume across all blockchains, a significant milestone for the network. The surge in activity also extended to Solana's native token, SOL, which outperformed the broader market with a 20% gain, far outpacing Bitcoin's 2% rise.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
jeudi 23 janvier 2025
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Donald and Melania Trump launch rival memecoins as crypto industry hopes rise
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mercredi 8 janvier 2025
Bitcoin Price Today: Inflation Fears, Trump Tariff Concerns Drive Price Below $93k
Bitcoin's dramatic two-day plunge has rattled the crypto market, erasing nearly all of its early 2025 gains and sparking a fresh wave of investor anxiety.
Amid fears of rising inflation, surging bond yields, and potential US tariff policies under the incoming administration, Bitcoin fell to a low of $92,900 today (Wednesday), leaving traders debating its next move.
Fed Policy and Tariff Concerns
The selloff began earlier this week as strong US economic data caused fears that the Federal Reserve might maintain a hawkish stance longer than anticipated, CNBC reported.
The 10-year US Treasury yield surged, pressuring risk assets across the board. Bitcoin, which briefly traded above $102,000 on Monday, plunged nearly 5% in the daily chart. At the time of publication, the price was $94, 361, down 2% in the past day.
Among altcoins, Cardano's ADA, Solana (SOL), and Avalanche (AVAX) led losses. Cardano (ADA) currently trades at $0.921, representing an 8% decline in the past day. SOL, DOGE, and AVAX are down 4%, 5%, and 6%, respectively.
Minutes from the Federal Reserve's recent policy meeting reportedly highlighted rising concerns about inflationary pressures. Additionally, uncertainty surrounding President-elect Donald Trump's potential tariff policies has reportedly added to market jitters.
These factors have traders reevaluating expectations for 2025, with rate cuts potentially fewer than previously anticipated. Historically, rate cuts have buoyed Bitcoin prices, while rate hikes have had the opposite effect. Any signs of delayed cuts could hinder Bitcoin's upward trajectory, keeping traders on edge.
Long-Term Prospects
Bitcoin's long-term prospects remain tied to broader adoption, regulatory clarity, and technological innovation. With 2024 marking significant milestones such as spot ETF approvals and institutional adoption, investors remain cautiously optimistic about Bitcoin's role in portfolios.
Technically, BTC is facing a downward price momentum. The cryptocurrency could find support at $91,829. Currently, it trades below the 50-moving average but remains above the 200-moving average.
On the daily price chart, the Relative Strength Index is at 44, meaning the price is above the oversold zone and could drop further before the trend changes.
For now, market participants will watch for upcoming economic data and Trump's inauguration for cues. While uncertainty looms, Bitcoin's resilience in past downturns offers a glimmer of hope for traders seeking a rebound.
This article was written by Jared Kirui at www.financemagnates.com.* This article was originally published here
mardi 7 janvier 2025
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Ex-crypto chief Do Kwon brought to New York to face fraud charges
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mercredi 1 janvier 2025
How To Prepare For Crypto Market Cycles
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* This article was originally published here