Explore the latest industry news, insightful data, and exciting updates from CoinMarketCap.
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There's never a boring day in crypto! Bitcoin finally showed some signs of life (read: pump) yesterday. Prices had been declining for a week or two, thanks to those macroeconomic concerns taking over the crypto community. But yesterday's inflation data gave Bitcoin a well-deserved boost with a nice little price spike. The celebrations were short-lived as when the Fed decided to keep interest rates at current levels, Bitcoin swiftly retreated back to around $67K and maintained the level. On the adoption front, the industry saw some massive support signs from big players in the political arena this week. So, let's discuss this event in detail and all other big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: |
- Bitcoin seemed unfazed by the Fed's decision to keep rates unchanged. Normally Bitcoin is sensitive to these macro events, so why was it so calm this time around? 😐
- President Biden's election campaign is reportedly looking for ways to accept crypto donations to keep up with Donald Trump. Is this just a fundraising tactic or a sign of a broader policy shift? 🤔
- A new report claims that by 2030, the combined impact of AI and crypto could reach a massive $20 trillion market. But what role can crypto play in increasing demand? 📈
- Former President Trump hosted Bitcoin miners at Mar-a-Lago and hinted at pro-crypto policies if re-elected in 2024. What kind of policies does he have in mind to boost crypto? 📜
- Circle, which issues USDC, is integrating its services with the Solana blockchain. How will this integration actually benefit and empower Solana's growing user base? 💰
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Let's start with some unusual news! |
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| | GLOBAL MARKET CAP | | $2.46T | | ▼0.1% (24h) | | | 24H MARKET VOLUME | | $92.63B | | ▲21.18% (24h) | | |
| | BITCOIN'S DOMINANCE | | 54.4% | | ▲0.12% (24h) | | | FEAR & GREED INDEX | | 58 | | Neutral | | |
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 | Bitcoin | | | $67,890.02 | | ▲0.07% (24h) | |
|  | Ethereum | | | $3,505.04 | | ▼1.21% (24h) | |
|  | BNB | | | $606.4 | | ▼1.15% (24h) | |
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Data as of: 13 Jun 2024 11:40 UTC |
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Bitcoin remained stable after the Federal Reserve's much-anticipated decision to leave interest rates unchanged this week. BTC investors appeared unusually unbothered by the big reveal yesterday. No wild pricing swings or volatility eruptions. Just steady as she goes for the OG crypto. It's an admittedly surprising reaction given Bitcoin's historical sensitivity to macroeconomic forces like interest rates, inflation dynamics, and shifting Fed policy stances. Typically BTC is among the first assets to front-run these big market-moving events. So what changed this time? Is Bitcoin finally growing out of the macroeconomic impacts? Or are there other forces in action? Read the full story! |
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Biden's Campaign Eyeing Crypto Donors |
Seems like crypto WILL be the deciding factor in 2024 presidential elections. If the latest rumblings are to be believed, President Biden's election campaign team is actively exploring ways to accept crypto donations to counter his opponent's embrace of the space. Word has it Biden's campaign is in talks with industry heavyweights like Coinbase about potentially rolling out crypto payment rails. With Trump already leading the charge in tokenized fundraising, the president's advisors seem to recognize the need to change the tactics. Are they also looking to change their policy and overall stance on crypto? Read the full story! |
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Rate Hikes and the Fed – How Do They Affect Crypto Markets? |
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| The relationship between the Fed and financial markets is complex. Learn how changes in the monetary policy affect the markets. |
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AI + Crypto = A $20 Trillion Economic Giant? |
A new report from Bitwise suggest that by 2030, the combined economic impact of AI and crypto could swell to a staggering $20 trillion. That's not just a big number, that's a potential paradigm shift that redefines both industries as economic giat with sweeping global implications. The report's thesis centers around the deepening synergies between AI's appetite for computing power and crypto mining's energy-intensive infrastructure. As AI ecosystems boom, their demand for data center capacity and processing power is rapidly outstripping supply. But how can crypto contribute to the demand? Read the full story! |
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And a Little Bit About Trump's Never-Ending Support for Crypto |
Former President Donald Trump is leaving no doubt about his allegiances, hosting a private summit with Bitcoin mining leaders at his Mar-a-Lago resort this week. Trump declared his full support for their energy-intensive operations and even teased policy initiatives aimed at strengthening their role if re-elected. What other policy changes did he talk about that could potentially boost crypto's entire market cap? Read the full story! |
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Our new Bitcoin ETF Tracker offers detailed data on index funds, mutual funds, ETFs, and hedge funds invested in Bitcoin and other cryptocurrencies: |
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Monitor total assets under management (AUM), net inflows and outflows, and the performance of top funds for a comprehensive view of market trends and insights into capital movements. |
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Circle Charts Web3 Expansion With Solana Integration |
Circle, crypto firm behind USDC, is gearing up to integrate its suite of services and developer tools with Solana. It's a power move that promises to unlock new capabilities for Solana's rapidly growing community of builders and users. It includes extension of offerings like programmable wallets and its novel "gas station" functionality to the network. How exactly will these help Solana users and builders? Read the full story! |
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| And that's a wrap. We will be back with more updates tomorrow! |
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