Crypto News
Gold-Backed Cryptocurrencies Surge as Precious Metal Hits Record Amid Trade War Worry
Gold-backed cryptocurrencies are outperforming the wider market amid a historic rally for the precious metal, which is up around 9.7% so far this year to a new record of $2,880 per ounce amid growing trade war tensions.PAX gold (PAXG) and Tether gold (XAUT) have benefitted greatly from the precious metal’s rise, both rising roughly 10% in line with the spot price of gold. Each of these tokens is backed by one troy ounce of gold stored in a vault.Unsurprisingly, in the traditional market, gold miners' stocks have also surged. VanEck Gold Miners ETF (GDX), an exchange-traded fund (ETF) that tracks gold miners, has risen nearly 20% this year, outperforming the S&P 500. The price action has seen the supply...
Elizabeth Warren Pledges to Work With Trump to End Debanking of Crypto Firms
The longtime crypto skeptic linked debanking investigations to the Consumer Financial Protection Bureau, a banking watchdog Trump recently shut down.Source link
Why DeFi Will Benefit From Trade Wars
Bitcoin (BTC) tumbled over the weekend, sinking well below the $100K mark as markets reacted to the latest escalation in the U.S. trade disputes. The broader digital asset market followed suit, leading to one of the most significant sell-offs since the outbreak of Covid and the collapse of FTX. Specifically, President Donald Trump announced sweeping new tariffs of 25% on imports from Canada and Mexico and 10% on Chinese goods.Canada and Mexico initially retaliated but have since reached deals to delay the imposition of U.S. tariffs, while China has announced its own tariffs against U.S. goods. The developments have increased global economic uncertainty and sent risk assets into a temporary free fall.As global economies wrestle with trade disputes, crypto markets...
Solana Meme Coins TRUMP, VINE See Double Digit Gains in Market Lull
While the top ten cryptocurrencies seem stuck trading sideways, the meme coin world continues to make double digits moves.Source link
Bitcoin Price Analysis: A Massive Move Is Brewing—Breakout or Breakdown Ahead?
Bitcoin currently trades at $97,821 to $98,313 over the last hour, boasting a $1.96 trillion market valuation and $54.21 billion in daily activity, oscillating between $96,147 and $100,760 today. It lingers 9.2% shy of its historic peak, a threshold tantalizingly close yet just out of immediate reach. Bitcoin Bitcoin‘s daily price action paints a tempestuousSource link