Daily #Web3 Market

18 Sep 2024

Bitcoin Holds Above $60K as Traders Warn of Sell-Off on 50 Basis Point Fed Rate Cut

Traders betting on Fed fund contracts are pricing in a 65% implied probability of rates cut to a 4.5-5% range. PLUS: Circle announces partnership with Polymarket Read more

BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin

BitGo says USDS is an "open participation" stablecoin that provides rewards to institutions for providing liquidity to the ecosystem. Read more

DePIN Tech Shows Promise, But Implementation Faces Several Hurdles, Moody's Says

The Wall Street ratings agency's first-ever report about the sector underscores the increased attention towards DePIN apps. Read more

Brian Armstrong, ETF Experts Shoot Down 'Paper Bitcoin' Rumors

Rumors alleging Coinbase (COIN) of issuing bitcoin IOUs to BlackRock were quickly shut down by industry experts as well as Coinbase CEO Brian Armstrong on Monday. Read more

Circle's USDC in Brazil and Mexico Now Available to Businesses Via Banking System

Previously, the stablecoin could only be purchased through crypto exchanges. Read more

Winklevoss Twins' Father Donates $4M Bitcoin to School Teaching Theory That Inspired Satoshi

His donation is the first bitcoin gift that the college has received, and will fund new business programs. Read more

A New Prediction Market Raises $3M in Pre-Seed Round Led by 1confirmation

Unlike industry leader Polymarket, Limitless Network isn't focusing on the election. It's carving out a niche with contracts that expire quickly and user-created markets. Read more

DYdX to Debut Perpetual Futures on Prediction Markets as DEX Seeks to Raise Profile

Decentralized finance needs to develop a unique offering relative to centralized venues, dYdX Foundation CEO Charles d'Haussy said. Read more

Ethereum ETFs would’ve ‘done better’ if launched in January: Bitstamp exec

Bitstamp’s Bobby Zagotta said Ether ETFs came at a “burdened moment” for risk assets but was optimistic things would pick up at the end of the year. Read more

Crypto poised for boost if Fed cuts rate by 50 bps, says hedge fund boss

If the Fed cuts rates by just 25 bps, “crypto will likely fall along with that,” said CEO of crypto hedge fund Asymmetric, Joe McCann. Read more

Australia’s central bank launches 3-year program for wholesale CBDC

RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present. Read more

South Korea’s crypto market growth fueled by rising Premium Index: Chainalysis

The Korea Premium Index drives price surges in South Korea's crypto market, where institutional trading plays a pivotal role. Read more

Bitcoin’s ‘local market structure’ could push BTC price to new all-time high — Analysts

Analysts say Bitcoin’s recent price action could be a sign that the path to new all-time highs has begun. Read more

Why is the crypto market up today?

The crypto market is up today, following a bullish performance from US equities markets and traders’ anticipation of an interest rate cut by the Federal Reserve. Read more

Why stocks may send Bitcoin price back to $50K before October

Bitcoin and SPX share a high correlation index as the US stock approaches a new all-time high a day before the Fed cuts interest rates. Read more

Analysts Predict End of Bitcoin Consolidation as Fed Rate Cut Looms

Crypto market analysts are largely in agreement that Bitcoin’s six month consolidation period is about to come to an end. Read more

The Sovereign Nature Initiative Releases DOTphin: Eco-Evolving Avatars On Polkadot at Token 2049 in Singapore

Token 2049 Attendees Can Collect DOTphin Proof of Presence Digital Avatars and Contribute to Real-World Environmental Impact  Sovereign Nature Initiative (SNI) has joined forces with Unique Network and WalletConnect to launch DOTphin, an innovative Polkadot NFT project for attendees of Token 2049 in Singapore.  Read more

Spot Buying Drives BTC Rally as Market Awaits Fed Rate Cut: Bitfinex

Bitfinex said market behavior could swing between cautious de-risking and bullish momentum regardless of the outcome of the Fed's rate cut decision. Read more