Bitso, the Latam-focused cryptocurrency exchange, has launched a stablecoin startup accelerator program. ‘The Push’ will support five stablecoin projects based in or planning to establish themselves in Latam, providing each with $250K to capitalize on the growing popularity of stablecoins in the region. Bitso to Support Stablecoin Innovation in Latam With ‘The Push’ With the
The post After a ‘Perfect Bullish Retest’, is the Bitcoin (BTC) Price Ready for a 10% Upswing in February? appeared first on Coinpedia Fintech News The Bitcoin price is rising! The latest recovery from the DeepSeek shock wave has instigated bullish momentum within the crypto space. The price has turned $100K into a strong support zone, indicating more room for the bulls to thrive. However, one last hurdle to overcome could lead the rally into the price discovery phase. Meanwhile, the liquidity is yet again piling up at the top once again, which could make the path towards a new ATH a pretty rough one. Is Bitcoin (BTC) Price Primed for the Next Move to $110K? The Bitcoin price has broken out of a massive bullish pattern and is expected to keep up the bullish momentum hereafter. After the current consolidation, the token appears to be ready for the next move, targeting levels above $120K. Amid the bullish continuation, the probability of a pullback after reaching fresh highs occurs as an immense amount of longs have piled up around the crucial resistance at $106.4K. The data from Coinglass suggests that nearly $100 million in longs have been accumulated between $106K and $106.8K. Liquidity at the top hints towards whales preparing for a move as the bullish chart aligns at the moment. Presently, $107K levels look extremely promising, and a potential breakout suggests a further price rise. Where Will the BTC Price Head Next? As mentioned above, the price has broken out from a massive cup and handle pattern in the long term, and as a result, the price could remain elevated regardless of the mourning bearish pressure. The price appears to be midway through the outcome of the breakout, which suggests the BTC top could be somewhere around $125K. The technicals are slowly turning bearish, like a couple of bearish crossovers can be expected with the MACD and Bull Market Support Band. Meanwhile, the RSI in the weekly timeframe has reached the upper threshold and a rise within the overbought range may squash the bearish possibility. If the price fails to do so, a drop below $100K could be imminent. Despite the bearish possibility, the price still remains under bullish influence and the upper target at $125 remains activated.
Tyler Winklevoss, co-founder of the US cryptocurrency trading platform Gemini, has taken a firm stance against former Securities…
Indiana has officially entered the crypto investment space with the introduction of House Bill 1322 (HB 1322), a proposal that could allow state pension funds to invest in Bitcoin ETFs. This move follows similar initiatives in states like Michigan, Utah, Arizona, and California, highlighting the growing acceptance of cryptocurrency in government-backed investments. Bitcoin ETFs for … Continue reading "Indiana Proposes Bill to Allow Pension Funds to Invest in Bitcoin ETFs" The post Indiana Proposes Bill to Allow Pension Funds to Invest in Bitcoin ETFs appeared first on Cryptoknowmics-Crypto News and Media Platform .
Bitcoin’s recent surge in market dominance, driven by substantial ETF inflows and shifting political sentiments in the US, challenges rival cryptocurrencies. Despite the proliferation of new altcoins, Bitcoin’s market share
On January 30th, COINOTAG News reported on significant developments in El Salvador’s cryptocurrency landscape. The Salvadoran Congress has rapidly enacted amendments to its existing Bitcoin law to align with the
Abstract, the layer-2 network rolled out this week by Pudgy Penguins, is off to a muted start despite offering a series of incentives to new users. The network notched 711,000 user transactions on the day of release, but that respectable total has been overshadowed by a lack of inflows. Its total value secured (TVS) was standing at just $33 million worth of ether (ETH) and stablecoins, a far cry from the tens of billions of dollars distributed across other hyped layer 2 networks. The platform's native decentralized exchange, NOXA, has $109K worth of total value locked (TVL), down from $515K on launch day, DefiLlama shows . The launch was marketed as a "new era of consumer crypto" with simplified onboarding that allowed users to create a wallet using an email address. Users interacting with the Abstract mainnet accrue "xp points" which can be used to "level up" and unlock rewards. However, an Abstract supporter on X noted that "most people don't care about xp as much as flipping their NFTs," before going on to lament the project's community. Abstract functions like the majority of other Ethereum-based layer 2 networks, users can bridge funds from other blockchains, swap tokens on decentralized exchanges and launch new tokens on zoo.fun, Abstract's version of the pump.fun token launcher. But Abstract's CEO Luca Netz wants to steer attention away from stuffy DeFi applications that typically command the most liquidity on other networks, instead he wants products that are "fun." Netz said during an interview that "If it's not fun and viral there's no reason for you to build on Abstract. I'm optimizing for fun, viral, simple, stupid. If you want to build the next DeFi application, I really recommend you use Berachain or Arbitrum. Don't come to Abstract to build those type of products because we want to be really specialized around fun. Abstract's launch has coincided with a loss of momentum in Pudgy Penguins' native token (PENGU), which is down by 7.6% over the past 24 hours and 41% in the past week. The non-fungible token (NFT) sector has struggled to reach the dizzying heights of 2022 during the recent bull market. Trading volume on OpenSea, despite experiencing a major uptick in December amid airdrop rumors, is averaging around $15 million per day in January compared to $160 million per day three years ago.
Bitcoin’s rising market dominance is fueled by strong ETF inflows, political momentum in the US, and Ethereum’s continued multi-year slump against BTC.
El Salvador, which made a world first by accepting Bitcoin as legal currency, has now taken a step back. The Congress of El Salvador approved the Bitcoin reform bill presented by President Nayib Bukele on January 29 to comply with the requirements of the $1.4 billion loan agreement reached with the International Monetary Fund (IMF). As part of the agreement, the IMF asked the government of El Salvador to reduce its involvement in Bitcoin and make Bitcoin optional and voluntary for private sector traders. With this approved Bitcoin reform bill, BTC has been made optional and voluntary for private sector traders. Previously, it was a legal requirement for businesses to accept Bitcoin as payment. The reform bill was passed with 55 votes in favor and only two against. Ruling party lawmaker Elisa Rosales said the change was necessary to ensure Bitcoin’s permanence as legal tender and facilitate its practical application. Despite the policy change, the El Salvadoran government led by Nayib Bukele has recently announced that it will continue to increase its Bitcoin (BTC) holdings in an effort to enrich national reserves. According to Bitcoin Office data, El Salvador currently holds 6,049 BTC worth approximately $636.6 million. *This is not investment advice. Continue Reading: IMF Requested, El Salvador Took the First Step Back on Bitcoin! Is BTC's Official Currency Status Changing?
According to recent insights shared by Nansen’s CEO, Alex Svanevik, there has been a significant shift in the landscape of active addresses among leading blockchain networks over the past year.