Author: Andrei Ionescu
Bitcoin is showing signs of potentially hitting a market bottom, as bearish sentiment and macroeconomic uncertainties weigh heavily on both crypto and traditional markets, according to a recent report by K33 Research. Analysts Vetle Lunde and David Zimmerman highlighted that negative perpetual funding rates in the bitcoin market could be an indicator of future price recovery. In recent weeks, bitcoin has faced downward pressure due to economic concerns, including potential Federal Reserve rate cuts and weak U.S. job data. This has led to widespread risk aversion across financial markets, with the S&P 500 and Nasdaq also posting negative returns at…
Following Tuesday night’s presidential debate, U.S. Vice President Kamala Harris’ odds of winning the November election surged on crypto-based prediction platform Polymarket, putting her in a tie with former President Donald Trump. Polymarket’s $860 million market showed both candidates with 49% odds of victory, a shift from Monday when Trump led with 52%. The debate, which covered key topics like the Gaza conflict and abortion rights, saw no mention of cryptocurrency. However, Harris’ debate performance was favored by Polymarket bettors, with 94% believing she won, though official polls have yet to confirm this. Harris’ odds rose from 46% to 49%,…
Despite significant market challenges, crypto adoption has remained steady in the U.S. and the U.K., signaling a potential rebound in the retail market, according to Gemini’s newly released 2024 Global State of Crypto report. Based on a survey of 6,000 individuals across the U.S., U.K., France, Singapore, and Turkey conducted from May 23 to June 28, the report reveals that crypto adoption has remained consistent, with 21% of U.S. respondents and 18% of U.K. respondents holding digital assets in both 2022 and 2024. In contrast, France saw a rise in crypto ownership, moving from 16% to 18%, while Singapore experienced…
Bitcoin (BTC) trading volume reached unprecedented levels in the first eight months of 2024, surpassing the previous records set during the 2021 bull market. According to data from Paris-based analytics firm Kaiko, the cumulative notional trading volume representing the dollar value of BTC bought and sold on centralized exchanges totaled a staggering $2.874 trillion between January and August. This figure marks a nearly 20% increase over the $2.424 trillion recorded during the same period in 2021, making it the highest bitcoin trading volume since 2012. “The rise in crypto volatility has been accompanied by increased market participation, at least in…
A potential 50 basis point (bps) interest rate cut by the U.S. Federal Reserve (FED) next week could spark concern among risk assets, including Bitcoin (BTC), according to a report from 10X Research. The Fed is widely expected to begin a rate-cutting cycle, and the first reduction is anticipated during the Federal Open Market Committee (FOMC) meeting on September 18. While lower interest rates typically stimulate markets, the unusually large cut could signal heightened economic risks, causing investors to reassess their exposure to risk assets such as cryptocurrencies and stocks. “While a 50 basis point cut by the Fed might…
Tokocrypto, an Indonesian cryptocurrency exchange owned by Binance, has become the third exchange in the country to secure a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This milestone comes after Binance’s acquisition of Tokocrypto in late 2022, having previously been the majority shareholder in the exchange. The license grants Tokocrypto the authority to operate under Indonesia’s evolving regulatory framework for crypto assets. In 2023, Indonesia introduced a requirement for all crypto exchanges to register with the Commodity Future Exchange (CFX)—the world’s first national bourse for crypto assets, regulated by Bappebti.…
Binance Futures is expanding its offering with the launch of the RPL/USDT Perpetual Contract, scheduled for September 9, 2024, at 12:30 (UTC). Traders will be able to leverage their positions by up to 75x, providing more opportunities for both risk management and potential returns. Key Features: Binance also highlighted that contract specifications—such as funding fees, tick size, and leveragemay be adjusted periodically based on market conditions. Users should stay informed about possible changes to ensure optimal trading strategies. Multi-Assets Mode: For added flexibility, Binance’s Multi-Assets Mode allows users to trade the RPL/USDT Perpetual Contract using various margin assets, such as…
Tether, the issuer of the world’s largest stablecoin, USDT, has revealed its latest investment, channeling $102 million into South American agricultural giant Adecoagro SA. The move, made between July 29 and August 16, sees Tether purchasing 9.8% of Adecoagro’s outstanding shares, making it the third-largest shareholder in the Nasdaq-listed company, according to filings. Adecoagro, one of Argentina’s largest producers of milk and rice, also operates in sugar cane farming and renewable energy in Brazil, as well as planting crops like soybeans and corn across Argentina and Uruguay. The company currently holds a market capitalization of just under $1.2 billion. A…
Bitcoin’s 200-day simple moving average (SMA), a widely recognized indicator of the cryptocurrency’s long-term trend, is on the verge of losing its bullish momentum. This stall comes just ahead of the release of critical U.S. nonfarm payroll (NFP) data, which is expected to influence the Federal Reserve’s interest-rate outlook. Data from TradingView shows that since late August, Bitcoin’s 200-day SMA has averaged a daily increase of less than $50, a significant drop from the $200-plus moves seen earlier this year. As of now, the 200-day SMA stands at $63,840, with Bitcoin trading at $55,880. This reduced variability marks the first…
As artificial intelligence (AI) reshapes the global economy, analysts at research and brokerage firm Bernstein argue that cryptocurrency micropayments are essential to prevent financial bottlenecks in the AI-driven industry. In a note to clients on Friday, analyst Gautam Chhugani highlighted the limitations of the current global financial system, which relies on jurisdiction-specific networks like SWIFT and companies like Mastercard and Visa for transactions. These systems require identity verification for individuals and businesses, a barrier for fully autonomous AI agents, which lack human credentials. While AI agents could use human-authorized bank accounts or credit cards, Chhugani believes this would restrict the…