Crypto News
Bitcoin Must Stay Above $98K to Avoid Bearish Breakdown, Experts Say
Analysts suggest that while bitcoin may test its all-time high, it could first experience a slight drop. B2binpay analysts believe bitcoin is entering a crucial range between $115,365 and $111,945, which could lead to upward movement. Analyst Predictions: Nearing All-Time High? On July 25, bitcoin (BTC) declined below $115,000, triggering the liquidation of millions ofSource link
State of Crypto: The Senate Responds to Clarity Act
The Senate Banking Committee has introduced a discussion draft bill for addressing crypto market structure, tackling part of what will overall be a significant legislative push to meet the House's Clarity Act.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Ancillary assetsThe narrativeThe Senate Banking Committee introduced a discussion draft market structure bill to address how it believes the U.S. Securities and Exchange Commission should oversee digital assets, introducing the concept of an "ancillary asset" and asking the general public to weigh in on the draft by early August.Why it mattersWhile the House voted to advance its Clarity Act last week, the Senate still needs to...
Russian Entities Using Kyrgyzstan’s Crypto Industry to Evade Sanctions: Report
TRM Labs found that Russia-linked activity accounts for almost all of Kyrgyzstan’s cryptocurrency industry.Source link
Stablecoin Market Heats up as USDS and USDe Supplies Spike Nearly 25%
Seven days ago, the stablecoin economy broke past the $260 billion mark — and it’s been climbing ever since. Over the past week alone, the sector added nearly $5 billion, with close to $2 billion of that coming from freshly minted tether ( USDT). Billions Minted, Rankings Bolstered—Stablecoins May be Entering Their Most Turbulent PhaseSource link
Coinbase’s Base App Rebrand Sends a Little-Known Token Soaring 440% Amid SocialFi Boom
Coinbase’s rebrand of its Wallet into the Base App has kicked off a SocialFi surge, sending Zora's (ZORA) activity into overdrive and leading to a massive rally for its token.Zora, which lets users mint tradable tokens tied to individual social posts, saw a dramatic rise in use following the app’s July 16 rebrand. The Base app’s features include posting, chatting and one-tap token minting, integrated with Zora and Farcaster.The result, according to Dune data, were daily Zora token creations jumping from about 4,000 to more than 15,000, with a peak of 38,000 mints on July 24.Daily trades rose from 30,000 to over 150,000, while trading volume crossed $6 million a day, up from just $1 million before the launch. The...