Cryptocurrency

It is certainly possible to “say something silly once in a while, as I do,” Musk admitted. However, he said, that even this would add to the authenticity of the speaker on the X platform.Besides, the tech billionaire underscored the fact that a message posted on X rather than on a legacy media, “can reach thousands of times more people than a random newspaper article.” He reminded the community that X boasts 600 million active monthly users. Occasionally this number may soar to a whopping one billion people with active accounts who would read that message. The audience rises to that high of a number when there is a real-time crisis happening, he clarified.Among other major advantages of the X platform, according to Musk, is that the most influential people have active accounts here. Musk admitted that he is not registered on any other social media platforms, and neither are his friends and acquaintances: “I don’t use anything else personally, and the same is true for many people I know.”What is important is that Musk admitted that he often posts something on X, sometimes “100 times per day,” and that is not a team doing it but himself. Currently, a mind-blowing 201.8 million people follow Musk on X.This time in the picture, Saylor is seated in a suit, wearing an orange (Bitcoin’s color) tie with a BTC logo featured on his laptop lid and a mug on his table. “is a great way to start the day,” Saylor tweeted.Dogecoin co-creator Billy Markus also responded to Musk’s message, saying: “Most people are scared to be themselves and say what they really feel.”This article was originally published on U.Today More

Schiff’s reasoning aims to ridicule Saylor’s conviction that Bitcoin is a volatile asset that is worth investing in. If value were solely determined by volatility, he suggests that Bitcoin would be a poor investment compared to highly volatile traditional stocks. Saylor and many others see long-term potential in Bitcoin, as shown by their never-ending conviction in the asset. But Saylor’s most likely dismissal of Schiff’s opinions stems primarily from his understanding that volatility by itself does not determine an asset’s future potential. As an emerging asset class that is expanding quickly, Bitcoin’s volatility is a reflection of this. In contrast to DJT or other conventional stocks, the volatility of Bitcoin is associated with its larger function in transforming the financial system by providing decentralization resistance to censorship and the possibility of widespread global adoption.In addition, Saylor has continuously stated that he views Bitcoin as an inflation hedge, basing his investment strategy on the asset’s long-term worth rather than its volatile price. As a testament to his belief in Bitcoin’s potential growth, his company, MicroStrategy, has a sizable amount of the cryptocurrency held in its treasury. Schiff, however, is still dubious about Bitcoin and frequently calls it out as a speculative bubble. His fundamental skepticism about digital assets, and particularly Bitcoin, is the basis of his advice to Saylor. Saylor is unlikely to take Schiff’s advice seriously, given their different views on Bitcoin and their very different investment strategies.This article was originally published on U.Today More

The collaboration will reportedly increase awareness of Virtune’s ETP offering, which was listed on Nasdaq Stockholm in January 2024 and provides investors with access to Polkadot (DOT) through a regulated and physically backed structure.The Virtune Staked Polkadot ETP offers a 1:1 exposure to Polkadot, with staking rewards providing an additional 4% annual yield before fees. The regulated vehicle is available for both institutional and retail investors in Sweden, Finland, Norway, and Denmark.The partnership with Polkadot will support a marketing campaign to bridge the knowledge gap about Polkadot’s blockchain technology and its investment opportunities, according to Virtune’s CEO, Christopher Kock. The campaign will feature educational content, outdoor and digital ads, and large-scale events to highlight Polkadot’s capabilities and the investment potential of DOT. It will focus on Polkadot’s progress in areas like decentralized finance, gaming, real-world assets, and artificial intelligence.Kock further stated, “Following a long and collaborative process with Polkadot Opengov, we are both pleased and humbled to have earned the trust of the Polkadot community to lead Polkadot adoption in the Nordic financial market. We recognize a significant knowledge gap in this region regarding Polkadot’s great capabilities, and we are committed to bridging this gap through a comprehensive campaign.”Virtune’s regulated ETP is backed by Coinbase (NASDAQ:COIN) Custody, which enables staking directly from cold storage, with DOT tokens never sent to third parties. The product is easily accessible to investors through platforms like Avanza and Nordnet, providing liquidity without lock-up periods.Polkadot’s OpenGov system, which funds ecosystem development through community-approved proposals, supported the collaboration. With the campaign set to raise Polkadot’s profile in the Nordics, Virtune hopes to attract new investors to the blockchain and its growing ecosystem of projects.Earlier this year, Polkadot streamlined its governance model to enable simultaneous voting on multiple issues, all directly managed by the community. Polkadot’s OpenGov system is a major advancement in decentralized governance, giving DOT holders full control over the network without any central authority. More

Unite, the pioneering Layer 3 blockchain solution built on Base, is excited to announce a strategic partnership with Eigen Labs to incorporate EigenDA, a leading data availability solution provider, into the infrastructure that powers the next generation of mobile games.As the first Layer 3 blockchain tailored specifically for mass-market mobile games, Unite is focused on delivering seamless, high-performance experiences to the nearly 3 billion active mobile players. To achieve this mass-market scale, the partnership with EigenDA will integrate their cutting-edge data availability solutions into Unite’s Layer 3 chain, making launching and operating a web3 mobile game dramatically more efficient at scale.About UniteUnite is on a mission to build the first Layer 3 blockchain solution for mass-market mobile games, targeting the 2.8 billion players and the $90 billion revenue generated from the mobile game market. Focused on enhancing player experience with in-game earning capabilities, Unite offers a comprehensive L3 solution encompassing chain, client, ecosystem and establishing a decentralized physical infrastructure (DePin) built on billions of daily active mobile devices worldwide.Founded by veterans in mobile, gaming and web3 infrastructure who served as founders and executives of some of the biggest names, Unite is leading the innovation to the mobile games.For more information, users can visit Unite’s official website, or follow Unite on X, and join Discord community.About EigenLayerEigenLayer provides developers access to the Ethereum restaked capital base and decentralized validator set. Access to this trust network makes previously impossible mechanism designs possible in the form of Actively Validated Services (AVSs). EigenDA is the first AVS, building the most scalable, secure, and price-performant data availability layer. EigenLayer is backed by top investors including Polychain Capital, Blockchain Capital, Ethereal Ventures, Electrical Capital, and a16z crypto.ContactDi Chendchen@unite.ioThis article was originally published on Chainwire More

The world’s biggest cryptocurrency appeared to have broken out of a $50,000 to $65,000 trading range seen through most of the year, and was now about $7000 away from making new record highs. Sentiment was also boosted earlier this week by defunct exchange Mt Gox extending its timeline for returning stolen tokens to creditors. Bitcoin rose 3% to $67,845.0 by 08:53 ET (12:53 GMT). Sentiment towards crypto improved this week after Democratic presidential candidate Kamala Harris pledged to form a definite regulatory framework for crypto, although she did not elaborate on the details.Harris’ pledge marked a crypto-friendly stance from both major frontrunners for the next U.S. president, with Republican nominee Donald Trump having maintained a largely pro-crypto stance in recent campaigning.Trump’s World Liberty Financial crypto project went live this week, with reports stating that it raised at least $220 million in token sales. Trump also appeared to have recovered some ground against Harris, recent polls showed, spurring bets that a Trump presidency will better serve crypto interests. Still, polls point to a tight presidential race, with about three weeks left to the ballot. Data from digital asset manager CoinShares showed crypto products saw inflows of $407 million in the week to October 13, with a bulk of them directed towards Bitcoin. This came after assets clocked mild outflows in the prior week.CoinShares said the inflows were driven by increased speculation over a potential Trump victory in the 2024 elections, which helped crypto markets weather recent shifts in expectations for U.S. interest rates. Broader crypto prices were mixed, with major altcoins mostly lagging Bitcoin. World no.2 crypto Ether climbed 1% to $2,633.23.XRP and SOL added 0.6% and 1.4%, respectively, while ADA fell 0.8%. MATIC remained flat.Among meme tokens, DOGE surged more than 10%. Italy is planning to raise the capital gains tax on bitcoin and other cryptocurrencies to 42%, local newspaper Il Sole 24 Ore reported, citing remarks from the country’s Vice Economy Minister Maurizio Leo.”We foresee an increase in the tax on bitcoin capital gains from 26% to 42%,” Leo reportedly stated. The measures, approved by the Council of Ministers on Tuesday evening, aim to raise funds to support families, young people, and businesses.Since the 2023 tax year, cryptocurrency capital gains above €2,000 ($2,180) have been taxed at 26%, following new regulations that shifted away from treating crypto as foreign currency, which previously benefitted from lower tax rates.The proposed increase aligns with reports that UK Chancellor Rachel Reeves is considering a hike in capital gains taxes, including on cryptocurrencies, from 20% to 39%.Per the report, Leo also mentioned that the government intends to limit cash usage as part of its efforts to reduce tax evasion.Ambar Warrick contributed to this report.  More

Although both Trump and Democratic candidate Kamala Harris have both indicated support for digital assets, crypto markets have strengthened in correlation with the former president’s chances of emerging victorious in the Nov. 5 ballot, the analysts noted.Despite polls suggesting that Harris holds a narrow lead nationally and the race is a virtual toss-up across several key battleground states, online prediction markets have shown a rise in Trump’s chances of winning a second four-year term in the White House.Bets on Kalshi, which was recently granted court approval to carry out election betting in the US for the first time, give Trump a 57% edge, compared to 43% for Harris. At the same time, Polymarket has the contest at 60% for Trump and about 40% for Harris.Bitcoin, meanwhile, has jumped by 16.6% over the last one-month period, as of 07:20 ET (11:20 GMT) on Wednesday. The world’s most popular digital token was exchanging hands at $67,887.9, a 24-hour increase of 3.4%, as it appeared to have broken out of a $50,000 to $65,000 trading range seen through most of the year.”[T]he Bitcoin market strength is recent and reflective of the current spike in Trump odds,” the Bernstein analysts said in a note to clients.Trump has maintained a largely pro-crypto stance in recent campaigning despite previously calling Bitcoin a “scam”. This week, his World Liberty Financial crypto project went live, with reports stating that it raised at least $220 million in token sales.Harris, for her part, has vowed to form a definite regulatory framework for crypto, although she did not elaborate on the details. More

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The price of Bitcoin has been testing significant resistance in the last few days, and the accompanying chart indicates that this level is almost at the top of the cryptocurrency’s long-term declining channel at $66,000. This level has frequently served as a ceiling for Bitcoin, as it has never been able to decisively break past it. But recent signs suggest that the market may be changing.For example, the spot premiums for Bitcoin and Ethereum are declining, which has not happened since June. The digital asset may be about to witness a major development, as indicated by this and the ongoing increase in the global M2 money supply, which is directly related to Bitcoin’s liquidity.The amount of $66,000 is the immediate resistance and one of the key price levels to keep an eye on. A bullish breakout may be indicated if Bitcoin is able to break above this level with significant volume. Traders are monitoring $62,000 as a critical support level in case of a decline. Subsequent collapses may point to a more significant adjustment. Last but not least, there is still psychological resistance at $60,000, and a decline below it may result in additional losses as traders reevaluate their holdings.The narrative surrounding the Bitcoin rally is further reinforced by the global liquidity index hitting new highs. This implies that market liquidity is sufficient to sustain additional price increases which, if the trend continues, could drive Bitcoin toward new all-time highs. But volatility is to be expected, so the next few weeks will be crucial for the movement of Bitcoin’s price.Even though there is a chance to break the one-year cycle, a lot will depend on how Bitcoin handles these crucial price points.This article was originally published on U.Today More