Pump & Memes HEATING up! XMR vs ZEC! How important are these rate cuts? - Under Exposed
Cryptocurrency markets are experiencing positive momentum with major coins registering gains. Bitcoin (BTC) has seen an increase of 1.5%, bringing its price to $92,000, while Ethereum (ETH) has risen by 1% to $3,130. Other notable performers include Solana (SOL), which is up 2% at $142, and XRP, climbing 1% to $2.06.
Among the top movers, Dash has surged by an impressive 60%, followed by Internet Computer (IP) with a 30% gain, and Monero (XMR), which has jumped 13% to achieve a new all-time high (ATH) of $680 before settling at around $640. The recent uptick in prices coincides with gold and silver also reaching new highs, fueled by ongoing investigations into Federal Reserve Chair Jerome Powell.
In regulatory news, the U.S. Senate has introduced a draft version of the Crypto Market Clarity Act, which proposes restrictions on rewards associated with stablecoins. Additionally, Senator Elizabeth Warren has expressed concerns regarding the inclusion of cryptocurrencies in 401(k) retirement plans, suggesting that they expose retirees to excessive risk.
Vitalik Buterin, co-founder of Ethereum, has emphasized the need for enhanced decentralized stablecoins, highlighting issues such as governance capture and potential inflation risks as areas of concern for the crypto community.
In business developments, World Liberty Financial has launched a new crypto lending platform centered around its USD1 stablecoin, reportedly attracting approximately $20 million in initial investments. Meanwhile, BitGo has filed for an initial public offering (IPO) in the United States, eyeing a valuation of around $2 billion as its custody assets have surpassed the $100 billion mark.
On the regulatory front, Tennessee state regulators have instructed Polymarket, Kalshi, and Crypto.com to halt their sports prediction markets and process refunds for users. This action has intensified a multi-state legal battle concerning the operations of these platforms.
Key Takeaways
- Major cryptocurrencies are on the rise, with Bitcoin and Ethereum showing significant gains.
- The U.S. Senate has introduced the Crypto Market Clarity Act, impacting stablecoin rewards.
- Vitalik Buterin calls for improved decentralized stablecoins to mitigate governance and inflation risks.
- Tennessee regulators have ordered the halt of certain sports prediction markets, escalating legal challenges for involved platforms.
This article was inspired by reporting from Decrypt. · Report an issue