Crypto News

By Francisco Rodrigues (All times ET unless indicated otherwise)The cryptocurrency market is still enjoying a rally on the back of Tuesday's higher-than-expected core inflation reading that boosted chances of a Federal Reserve interest-rate cut next month. Some traders are even calling for a 50 bps cut.The euphoria has lifted the CoinDesk 20 (CD20) index of largest cryptocurrencies more than 1% in the last 24 hours, and sent bitcoin (BTC) to a record high over $124,000 and ether (ETH) 2.2% higher to $4,750, just below its record.Headline inflation data for July came in cooler than expected, but rising core inflation fed into rate-cut expectations. On Polymarket, traders now weigh an 80% chance of a 25 basis-point cut in September, while chances...

ADA jumped double digits on the day as it surged to a five-month high, following a BTC all-time high and ETH closing in on its peak.Source link

Bitcoin (BTC) hit a record high above $124,000, and momentum has since eased off. Analysts said profit-taking by long-term holders has been capping gains above $120,000 since mid-July. The bull market remains concentrated at the top, as evident from the CoinDesk 20 (CD20) Index, which has risen over 1% in 24 hours. The CoinDesk 80 (CD80), a gauge of smaller tokens, has dropped more than 1%. "Bitcoin’s breakout beyond $124,000 has been particularly telling, a show of technical strength that reinforces its role as the market anchor, even as capital rotates into Ethereum and select altcoins," Vugar Usi Zade, COO of Bitget said in an email. "Whether this marks the opening chapter of a multi-quarter bull market expansion or the...

The paper, issued by BIS economists, proposes using blockchain as a transaction history to overcome the limitations faced by current AML measures when dealing with decentralized assets, such as cryptocurrencies and stablecoins, in order to protect off-ramping institutions. BIS Bulletin Proposes Using Blockchain History to Build Crypto AML Score The expansion of cryptocurrency and stablecoinsSource link

Soramitsu, a Japan-based blockchain developer, will help the government of Pakistan build its central bank digital currency effort, after having been involved in similar projects. The Pakistan CBDC pilot is being implemented with offline payment capabilities in mind. Japan-Based Soramitsu Enlisted to Create Pakistan CBDC More countries are developing their central bank digital currencies (CBDCs),Source link