Aurelia Butler

This article was originally published on U.Today More

According to Schiff, the main similarity between traditional fiat currencies and Bitcoin is that both derive their market value from the faith people have in them. In response to an X user who refuted this assertion by saying that “bitcoin was all proof of work,” Schiff declared Bitcoin as “proof of faith,” adding that “the work produces nothing of value. So it’s proof of faith.”Schiff went further to highlight the main difference between the two asset classes, indirectly highlighting Bitcoin’s ability to create wealth, saying, “The main difference is that no one expects to get rich holding cash. That’s why confidence in Bitcoin can be more easily lost.”Schiff, a staunch crypto critic, continues to dismiss Bitcoin while championing gold. He has previously criticized BTC exchange-traded funds (ETFs), claiming they undermine the decentralized nature of crypto.According to Glassnode, Bitcoin’s 60-day range is currently tighter than its current trading range. Historically, similar patterns have signaled volatility explosions.In a tweet, Glassnode observed that “Bitcoin’s current 60-day price range is very narrow. Historically, periods of tight price ranges often preceded heightened volatility,” it wrote. In addition, 20% of the BTC supply is concentrated within ±15% of the spot price, which creates the potential for amplified market volatility as investor profitability shifts.On the broader markets, investors are now anticipating the next Federal Open Market Committee meeting on Jan. 28-29, when interest rate cuts may be announced. At its December meeting, the Fed signaled two rate cuts for 2025, indicating a slow and cautious approach.This article was originally published on U.Today More

On Thursday, it was announced that Senator Lummis is to chair the Senate Banking Subcommittee on Digital Assets.Lummis tweeted about her commitment to advancing digital asset legislation. She emphasized the need for Congress to pass a bipartisan framework that not only fosters innovation in digital assets but also strengthens the U.S. dollar with a “strategic bitcoin reserve.”“Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and that strengthens the U.S. dollar with a strategic bitcoin reserve,” Lummis wrote. She described her appointment as a historic opportunity to secure the nation’s financial future under President Trump’s administration.CZ, the founder and former CEO of Binance, amplified the buzz with a quote tweet stating, “US Strategic Bitcoin Reserve, pretty much confirmed. Crypto moving at crypto speed again.”In the announcement of Lummis’s new role, Senate Banking Committee Chair Tim Scott said ‘Blockchain technology and cryptocurrency have the potential to democratize the financial world.” he added that “there’s no better champion for the industry than my friend Cynthia Lummis,”“Working with the Trump administration and our colleagues in the House, we will advance a commonsense regulatory framework to facilitate innovation here in the United States, not overseas,” Scott added.If pursued, a U.S. Bitcoin reserve could further validate cryptocurrency’s role in global finance while positioning the U.S. as a leader in the digital asset space. More

Boba Network has announced the integration of Nucleus, a protocol designed for blockchain networks. This collaboration enables users bridging ETH, Liquidity Staking Tokens (LSTs), or Liquidity Reward Tokens (LRTs) to the Boba Network to engage with Ethereum mainnet functionalities while accessing various DeFi protocols, gaming platforms, and NFT marketplacesThe partnership aligns with Boba Network’s focus on scalability and user-focused development. The integration of Nucleus expands Boba Network’s ecosystem offerings, highlighting advancements in cross-chain functionality and composable infrastructure.Enhancing Results Through CohesionBoba Network’s advanced capabilities support Nucleus’s goal of integrating core functionalities into blockchain ecosystems.Aligning with Nucleus’s MissionBy deploying on Boba Network, Nucleus aims to integrate core functionality across multiple crypto networks. This approach supports ecosystem participation by leveraging Boba Network’s features, including speed, cost-efficiency, and access to a range of decentralized applications.What the Integration BringsThe collaboration between Nucleus and Boba Network aims to integrate advanced network functionalities as a core feature rather than an additional option. This integration seeks to enhance the accessibility and utility of blockchain technology, supporting broader adoption and facilitating advancements in decentralized finance and related fields.Users can learn more about Nucleus on Boba Network and experience how this integration is redefining blockchain networks.About NucleusNucleus is a protocol designed to integrate core functionalities at the foundational layer of blockchain ecosystems. By streamlining cross-chain operations and providing developers with tools for integrating advanced features, Nucleus aims to enhance how users interact with Web3 technologies.About Boba NetworkBoba Network is a multichain Layer 2 solution designed for scalability, low transaction costs, and enhanced developer capabilities. Through innovations such as HybridCompute™ and account abstraction, Boba Network supports diverse dApps spanning DeFi, gaming, and NFTs, aiming to bring the next wave of users into the blockchain space.Website: https://boba.networkTwitter: @bobanetworkLinkedIn: https://www.linkedin.com/company/bobanetwork/ContactMarketing ManagerGian KimEnya LabsGian@enya.aiThis article was originally published on Chainwire More

These smaller investors increased their BTC purchases at prices around $100,000. The increasing retail activity on the Bitcoin market reflects an influx of new investors. It demonstrates that the recent BTC surge is not caused by existing investors or whales artificially pushing the market up.Additionally, the growing retail demand for Bitcoin might signify an accumulation-phase trend. If the ongoing trend continues, it could cement the adoption of BTC, potentially leading to a further price uptrend.However, it is important to note that retail investors are historically more susceptible to panic during minor market fluctuations, often resulting in quick profit-taking. Therefore, Bitcoin could face increased selling pressure if volatility rises or market sentiment shifts negatively.As of this writing, BTC’s price has been trading at $102,395, down 3.5% in the last 24 hours.Meanwhile, BlackRock (NYSE:BLK) CEO Larry Fink recently forecast that Bitcoin could surge toward the $700,000 level. Fink said his prediction hinges on Bitcoin’s ability to attract broader institutional adoption. The CEO also revealed a potential Bitcoin investment with a sovereign wealth fund.This article was originally published on U.Today More