Record $9.7B stablecoin inflows could drive Bitcoin to $100K

Bitcoin price has seen a record inverse correlation with the Chinese yuan (CNY) this week, according to an analysis from Bloomberg on Sept. 6. This suggests that investors are using the digital currency as a hedge against the yuan’s falling value.Bitcoin/CNY correlation chart. Source: Bloomberg Weakening yuan causes price premium on bitcoin in ChinaFurther evidence that…

Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call. 426 Total views 7 Total shares Cryptocurrency exchange Binance released its latest proof-of-reserves (PoRs) on Aug. 1, offering transparency into its crypto reserves. However, the movement of its USD Coin (USDC)…

Research and Market’s latest NFT market report for Italy predicts a 47.6% growth in the country’s NFT market by the end of 2022. 389 Total views 5 Total shares Ho-ho-ho! Get Limited Holiday Trait!Collect this article as NFTItaly is one of the cultural hubs of Europe, with centuries of history, art and culture. Now, it…

Previously only available on the Ethereum blockchain, the DEX will now operate on both Shibarium and Ethereum.

Debates regarding the amount of energy required to mine Bitcoin (BTC) have been ongoing. While tech pioneers such as Elon Musk have recently mentioned that the crypto industry is headed toward a greener future, some academic researchers have noted that mining BTC consumes more power than that of small countries. While these arguments are still hotly debated,…

Biden's administration may not have the same "hands-off" approach to crypto regulation, contends Bloomberg. 1337 Total views 13 Total shares The latest Bloomberg crypto newsletter contends that the election of Joe Biden would bring greater mainstream adoption of Bitcoin (BTC), including a potential ETF approval. Further, it referred to the Trump administration’s policies with regard…

Is the Bitcoin bottom in, or is today’s price action simply an oversold bounce that will trap overleveraged bulls? The Bitcoin sell-off, which dominated a majority of the weak, appears to be easing off, with BTC price making a recovery back in the $80,000 range to reach an intra-day high at $85,120.  Some traders believe

“Americans should be confident that regulators are working on behalf of the public, rather than auditioning for a high-paid lobbying job,” said 5 senators and House members. 246 Total views 3 Total shares Several Democratic members of the United States Senate and House of Representatives have requested information from top regulators and agencies in the…

The US House Financial Services Committee has passed a stablecoin framework bill, the STABLE Act, which will now head to a full House vote. The US House Financial Services Committee has passed a Republican-backed stablecoin framework bill, which will now head to the House floor for a full vote. The Committee passed the Stablecoin Transparency