Cryptocurrency

“He is supportive of crypto. His campaign is accepting crypto donations,” the firm highlighted. Last month, Trump met with a group of crypto miners to discuss how the crypto industry could benefit U.S. energy production, distribution, the development of artificial intelligence (AI), and data centers. The former president also expressed a desire for all Bitcoin (BTC) mining to occur in the U.S. His pro-crypto stance has been incorporated into the Republican National Committee’s 2024 Platform, which commits to ending the crackdown on crypto and blocking the development of a central bank digital currency (CBDC). The platform also supports the self-custody of crypto assets and BTC mining.Moreover, he selected Senator J.D. Vance (R-OH) to be his Vice-President candidate. Vance, who previously campaigned on a pro-crypto platform, recently began circulating draft legislation that would address crypto regulation by the Securities Exchange Commission (SEC) and CFTC. His bill is considered to be more industry-friendly than the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House with broad bipartisan support. Vance also holds between $100,000 and $250,000 of BTC.”Under a Trump/Vance administration, the prospects of crypto legislation becoming law improve significantly. Trump could accelerate crypto legislation,” Compass Point noted.At present, the expectation is that stablecoin legislation would lead the crypto movement in Congres. However, Trump’s crypto-friendly approach combined with bipartisan support for FIT21 signals that broader crypto legislation could be enacted into law in 2025 or 2026.Compass’s report points out bipartisan support as a crucial factor improving the outlook for crypto policy. Senate Agriculture Committee (SAC) Chair Debbie Stabenow (D–MI) is circulating a draft crypto bill to give the CFTC authority over digital assets. Although the text of the bill is not yet available, her goal is to vote it out of committee before the August break. This move is seen as critical to the bill’s prospects. Stabenow’s collaboration with House Financial Services Committee (HFSC) Chair Patrick McHenry (R-NC), who successfully passed FIT21 in the House, shows the potential for bipartisan cooperation on crypto regulation.Looking forward to 2025, a Trump administration with a Republican-controlled Congress would have a two-year window to pass crypto legislation, Compass Point said.The passage of FIT21 and Stabenow’s motivation to move a bill out of committee demonstrates a shifting landscape that favors comprehensive crypto legislation. “This change improves the odds of comprehensive crypto legislation becoming law in the 119th Congress. We place odds at better than 60% and will revisit this outlook following the November election,” Compass analysts said.A change in administration would also likely bring a new SEC Chair. Hester Peirce, a potential candidate for the position, is supportive of crypto, the note highlights.A change in SEC leadership could stem the tide of enforcement actions and accelerate the resolution of outstanding cases, such as the SEC’s lawsuit against Coinbase (NASDAQ:COIN). Moreover, it could lead to the end of ongoing crypto investigations, and create an opportunity for the SEC “to define the parameters of when a digital asset is a security.” More

A short-term moving average crossing above a long-term moving average causes this phenomenon, which usually indicates a turn in the direction of bullish momentum. Dogecoin is currently trading close to the 100 EMA, a significant level that, should it cross, may indicate that the recent death cross-related bearish sentiment is ending.A short-term moving average crossing below a long-term moving average, which previously happened, is known as a death cross and suggests that a significant downtrend may be on the horizon. But this story could be turned around by the market’s current upbeat attitude.Dogecoin is currently testing the resistance of the 100 EMA after trading above the 200 EMA, according to a technical chart analysis. If this level is broken, it may lead to a golden cross in which the 50 EMA crosses above the 200 EMA, confirming the bullish trend and possibly sparking a long-term price increase.With 77% of DOGE holders currently profiting at the current price points, on-chain data lends credence to this upbeat assessment. The substantial concentration of major holders shows that important market players are still interested in and supportive of the situation. Bullish indicators from the network’s on-chain metrics also point to growing network activity, which frequently occurs before price increases.It is impossible to overstate the significance of this $68,000 cutoff. It acts as a significant resistance level, and breaking through it might trigger a new round of buying pressure and send Bitcoin soaring. A possible breakout that may herald the beginning of a bullish trend is what traders and investors are keeping a careful eye on at this level.But you also need to take into account the technical indicators that are active. A possible crossover is suggested by the convergence of the 50-day and 100-day exponential moving averages (EMAs).A bearish signal also known as a death cross may be observed if the 50 EMA crosses below the 100 EMA. This could potentially halt the upward momentum and result in increased selling pressure. The market is still cautiously optimistic despite the imminent danger of a death cross.The psychological $70,000 mark would be the next target for Bitcoin if it were to successfully break past the $68,000 resistance. By attracting more institutional investors and retail traders, reaching this milestone could accelerate the price rally. It could be possible for Bitcoin to reach and even surpass its all-time highs if there is a persistent increase above $70,000.This stage of consolidation suggests that traders are keeping a close eye on the next move. Solana’s more ambitious $200 target might become attainable with a successful breakout above $185. Psychologically speaking, this level might draw in more customers and raise the price even further. It is noteworthy though that there isn’t a lot of trading volume at the moment. Sometimes, this drop in volume suggests a possible reversal.Solana’s price may drop before making another attempt at a breakout if the buying pressure does not pick up. Although traders should monitor the volume as it can offer additional insights into the future course, the market sentiment is still cautiously optimistic.This article was originally published on U.Today More

During his keynote speech at the Bitcoin Conference in Nashville, Trump emphasized that the real threat to the US Dollar’s dominance is not Bitcoin but rather policy decisions from Washington DC.In a series of declarations, Trump also announced his intention to direct the Treasury Department to cease efforts in developing a central bank digital currency (CBDC).He labeled Bitcoin as “not just a marvel of technology but a miracle of cooperation and human achievement,” and promised to end what he calls the ‘persecution’ of the cryptocurrency sector under his potential future presidency.Moreover, Trump declared he would dismiss the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler, on his first day in office.His comments suggest a complete reversal of the current administration’s stance on cryptocurrency regulation and oversight.Rounding out his pro-cryptocurrency stance, Trump predicted that Bitcoin’s market capitalization could surpass that of gold and called for the United States to become the “crypto capital of the planet,” signaling a significant shift in policy towards digital currencies if he were to win the presidential election.At 17:06 EST (21:06 GMT), Bitcoin price was up about 1% on the day. More

Trump was speaking at a Bitcoin 2024 conference in Nashville, Tennessee, part of a broader Republican effort to court crypto holders ahead of the Nov. 5 election.Bitcoin was last quoted down 0.96% at $66,814. More

Hoskinson highlighted his long-standing involvement with and support for Bitcoin. His early efforts in the cryptocurrency space include significant contributions to Bitcoin education, highlighting his foundational role in the community.The Cardano founder was responding to an X user who suggested that his recent political stance might give the impression that he hates Bitcoin, Hoskinson clarified his position with a heartfelt message.”Love Bitcoin, grew up with Bitcoin, and founded the Bitcoin education project back in 2013,” Hoskinson stated. He went on to express his frustration with certain Bitcoin maximalists, saying, “Hate the Maxis who say I should be in prison for making an altcoin.”Despite his crucial role in the development of Cardano, one of the main altcoins, Hoskinson’s early participation with Bitcoin and efforts to educate others about it underscores his enduring respect for the pioneer cryptocurrency.However, while he has a deep respect and love for Bitcoin, he strongly opposes the divisive attitudes of some of its most vocal supporters, the “Bitcoin maxis.”Pellerin disclosed the introduction of the “validation zones” CIP that describes an on-chain mechanism allowing for underspecified transactions like swap requests to be bundled together and validated as a unit.The proposal aims to support a more flexible intent settlement on Cardano in several ways. It introduces the concept of validation zones, which allow multiple related transactions to be bundled and validated together. This enables atomic swaps and other complex operations that require multiple steps.The proposal also introduces new transaction fields for “requests” and “fulfillments,” allowing users to express intents (such as swap offers) without immediately executing them.This article was originally published on U.Today More

Pawfury ($PAW) is making significant strides as its presale exceeds $4.5 million in funds raised. In recognition of this milestone, Pawfury is offering an exclusive 10% bonus on purchases for a limited time with the code “EXTRA10.”Transition to Public TradingThe Pawfury presale is nearing completion, with participants acquiring $PAW tokens before they become available for public trading. This transition is expected to significantly enhance the project’s visibility and accessibility, benefiting a broader audience.Key Benefits of Public TradingGlobal Reach and Community FocusThe upcoming public trading will extend Pawfury’s reach globally, supporting its growth and adoption. The project emphasizes community engagement and continuous innovation as key drivers of its success.Community and Innovation: The Pillars of Pawfury’s SuccessPawfury’s success story is built on the twin pillars of community engagement and continuous innovation. As $PAW prepares to go public, the team remains committed to these core values:About PawfuryPawfury is a blockchain-based project focused on integrating innovative technologies within the cryptocurrency space. With a strong emphasis on community engagement and continuous development, Pawfury aims to provide users with unique features such as the Pawfury Wallet, DeFi integration, and NFT collaborations. The project is committed to transparency, innovation, and building a robust ecosystem for its users.For updates and more information, users can follow Pawfury on Twitter and visit their website at pawfury.com.Users can engage in discussions and stay connected with Pawfury on Twitter to stay up to date with the latest developments and announcements. Users can also Visit Pawfury’s website at pawfury.com for more information.ContactJonathan LPawfurycontact@pawfury.comThis article was originally published on Chainwire More

Schiff seems to recognize, with a critical undertone, the strong belief and perseverance found within the Bitcoin community as their responses highlight. Schiff is still unequivocally skeptical of Bitcoin.Many people have carefully studied Bitcoin, including Schiff, and come to the conclusion that it does not live up to their standards or expectations as a profitable investment. The positivity and bullish attitude that are typical among Bitcoin enthusiasts and investors stand in stark contrast to this point of view.Bitcoin has proven remarkably resilient in the face of numerous regulatory obstacles and market fluctuations. The current price of Bitcoin, which has recovered from earlier lows, is roughly $68,000. The market’s reaction to Bitcoin has been conflicted, while some like Schiff believe it will remain viable in the long run, others view it as a digital goldmine and a hedge against inflation.Right now Bitcoin is performing well technically. As the price moves above significant moving averages, the chart shows a bullish trend. Support is coming from the 50-day EMA, and the recent price action points to a possible increase if the current momentum holds.Additionally, the RSI is within a healthy range, suggesting that the asset is not overbought. Even with Schiff’s critical stance, there is a strong belief in the future of cryptocurrencies as evidenced by the poll results and the state of the Bitcoin market.This article was originally published on U.Today More

Schiff, a gold bug and a cryptocurrency critic, had reacted to a certain comment made at the ongoing Bitcoin Conference, stating: “Some guy at the Bitcoin Conference just said that Bitcoin is the world’s best kept secret. Pumpers have to at least make their lies believable. Almost everyone knows about Bitcoin. There are 20,000 people at that conference. The biggest annual gold conferences attract around 500.”Schiff’s post implied that Bitcoin’s widespread recognition and the high attendance at Bitcoin conferences contradict claims of it being a “secret.” He also used the comparatively lower attendance at gold conferences to highlight the hype surrounding Bitcoin.Schiff’s comments caught Brandt’s attention, who did not hold back his response. Highlighting the stark contrast in attendance figures between Bitcoin and gold conferences, Brandt responded, “That’s because most of the gold bulls have died off.”The outlook remains optimistic howbeit cautious. In an X post, CryptoQuant CEO Ki Young Ju noted that Bitcoin remains in an accumulation phase as 358,000 BTC were moved to permanent holder addresses over the past month.Ju also believes that the Bitcoin bull cycle might last until mid-2025, citing that old whales selling during bull markets bring new capital into accumulation addresses, thus raising realized prices.Marathon Digital (NASDAQ:MARA) Holdings, the world’s largest Bitcoin miner, added $100 million in Bitcoin over the last month, bringing its total to more than 20,000 Bitcoin. Marathon’s CEO and chairman, Fred Thiel, stated in a July 25 X post that the company will “now go full HODL” to keep Bitcoin as its strategic treasury reserve asset.This article was originally published on U.Today More