CryptoBuzzPosts 🐝

Senator Cynthia Lummis Critiques US SEC’s Crypto Regulation Approach 🐝 ~ ~ Wyoming Senator Cynthia Lummis has criticized the SEC’s approach to cryptocurrency regulation, particularly targeting Chair Gary Gensler’s reliance on enforcement actions over clear guidelines. She believes this creates uncertainty and hampers the growth of the U.S. crypto industry. Lummis argues that Bitcoin and Ethereum should fall under CFTC oversight, viewing them as commodities rather than securities. She calls for comprehensive legislation to clarify regulations and address issues like the Howey Test and SEC staff accounting rules that burden crypto custodians. In contrast, Gensler insists existing regulations protect investors, affirming that Bitcoin is not a security. @CryptoBuzzPosts 🐝 ~ ~

Bolivian crypto transactions soar after lifting Bitcoin ban 🐝 ~ ~ A report from the Central Bank of Bolivia (BCB) reveals that virtual asset transactions more than doubled after the country lifted its Bitcoin ban in June. From July to September, monthly trade volume averaged $15.6 million, up from $7.6 million earlier, totaling $46.8 million for the quarter. The increase followed Resolution 082/2024, allowing electronic payments for virtual assets, primarily stablecoins. Transactions surged by 141%, reaching 1.1 million. BCB president Edwin Rojas highlighted this as progress toward a digital economy, enabling cross-border transfers. The BCB also launched educational workshops on virtual assets, emphasizing economic stability and financial development. @CryptoBuzzPosts 🐝 ~ ~

The Kingdom of Bhutan is onchain and mining millions in BTC 🐝 ~ ~ Bhutan is mining substantial amounts of bitcoin, generating between 55 and 75 BTC weekly, worth up to $4.9 million, leveraging its access to cheap, clean hydropower. The government collaborates with mining pools like AntPool and Braiins, and launched a $500 million fund with Bitdeer to support its operations. Bhutan’s sovereign wealth fund, Druk Holdings, which manages diverse investments, began cryptocurrency activities in early 2021. Over three and a half years, Bhutan has mined 27,727 BTC, alongside ether, while engaging in significant transactions with lending platforms. Currently, it holds 13,119 BTC and continues to deposit into exchanges regularly. @CryptoBuzzPosts 🐝 ~ ~

Why Crypto Whales Are Buying Big in October 2024 🐝 ~ ~ As the crypto market anticipates an “Uptober” rally, whales are focusing on assets with larger market capitalizations, particularly Ethereum (ETH) and Dogecoin (DOGE). Data reveals whale addresses have accumulated 910,000 ETH, valued over $2.4 billion, in the past 26 days, indicating institutional demand. DOGE, trading at $0.12 after a 24% price increase, also sees heightened whale interest, with a 134% rise in large holder net flows as 76% of DOGE holders are in profit. Additionally, Telegram-linked Toncoin (TON) has seen a 179% rise in large transactions, signaling bullish sentiment. @CryptoBuzzPosts 🐝 ~ ~

Cantor Fitzgerald CEO: Bitcoin Should Be Treated Like Gold And Oil Click to see more

Bitcoin (BTC) Surpasses 66,000 USDT with a 2.03% Increase in 24 Hours Click to see more

US Seizes Crypto Domains Tied to $800 Million in Illicit Transactions 🐝 ~ ~ The U.S. Department of Justice has seized domains belonging to three crypto exchanges linked to over $800 million in illicit transactions, targeting Russian money laundering operations. An indictment was unsealed against Russian national Sergey Ivanov, accused of managing several money laundering services for cybercriminals. Another Russian, Timur Shakhmametov, was indicted for operating Joker’s Stash, a major carding site. Authorities revealed that 32% of Bitcoin transactions processed by these exchanges were linked to criminal activity. The DOJ’s actions included sanctions against Ivanov and Cryptex, highlighting continued efforts to disrupt cybercrime. Rewards of up to $11 million were also offered for information leading to arrests. @CryptoBuzzPosts 🐝 ~ ~

Crypto Market Adjustment Ends, Bull Market Expected to Resume Click to see more

Weekly Market Highlights -  Kamala encourages crypto? Click to see more

Double Bottom or Head and Shoulders? Dogecoin (DOGE) Price Goes Through 5% Surge, Ethereum (ETH) at Pivotal Market Level 🐝 ~ ~ Ethereum is at a critical juncture, currently priced around $2,624, as it attempts to escape a bearish trend. It must maintain support at $2,550 to avoid falling back into lower price action. Meanwhile, Dogecoin has risen 5% and is nearing the significant 200 EMA level, with a potential bullish signal if it surpasses this resistance. Conversely, Bitcoin exhibits two conflicting patterns: a double bottom suggesting bullish recovery if it breaks above $65,000, and a head and shoulders pattern indicating potential bearish trends if support at $61,000 fails. Future price movements hinge on trader decisions. @CryptoBuzzPosts 🐝 ~ ~

Cardano (ADA) Eyes 20% Price Surge – Funding Rate Suggests Increasing Demand 🐝 ~ ~ Cardano is currently at a pivotal resistance level, with trading around $0.39, close to its 200 EMA at $0.41. Following last week’s interest rate cut, optimism has soared, with analysts projecting a potential 20-25% surge if the $0.40 resistance is breached. Key market indicators, including a positive funding rate of 0.01%, suggest traders are positioning for a breakout. However, if Cardano fails to surpass this resistance, it may face a consolidation period or a drop to around $0.35. The coming days are critical for determining Cardano’s trajectory in the evolving crypto market. @CryptoBuzzPosts 🐝 ~ ~

U.S. Bitcoin Spot ETFs See $366 Million Net Inflow Yesterday, Marking Six Consecutive Days of Inflows Click to see more

Circle exec expects ‘huge shift’ in EU market post-MiCA 🐝 ~ ~ Patrick Hansen, Circle’s European strategy director, predicts significant growth in the EU’s crypto and stablecoin market by late 2025, driven by the Markets in Crypto-Assets Regulation (MiCA). Speaking at the European Blockchain Convention, he highlighted MiCA’s role in shaping crypto regulations, providing clear guidelines for digital assets. Circle’s stablecoin, USDC, was among the first to benefit from this new framework, obtaining MiCA’s first stablecoin license after a lengthy compliance process. Since July, Circle’s euro-pegged stablecoin, EURC, has seen a market cap increase of 60-70%, indicating continued growth potential in the EU’s stablecoin sector. @CryptoBuzzPosts 🐝 ~ ~

How a Harris ‘Opportunity Economy’ Will Benefit the Crypto Industry 🐝 ~ ~ Democratic leaders in the cryptocurrency industry recently formed the Crypto4Harris movement, advocating for a shift in digital asset policy. Kamala Harris’s recent comments signal her support for the crypto industry, contrasting sharply with Donald Trump’s prior skepticism. While Harris’s team has engaged constructively with the industry, Trump’s statements often contradict his actions. Insiders believe a reset in crypto policy is likely under a Harris administration, as her vision of an “Opportunity Economy” could better support the digital economy. This perspective highlights skepticism towards Trump, emphasizing that Harris’s approach may be more advantageous for the industry. @CryptoBuzzPosts 🐝 ~ ~

Will XRP Price Hit $1M if 1 XRP Drop Equals 1 RLUSD? 🐝 ~ ~ XRP is poised for potential price gains as the Ripple-SEC case nears resolution, with a bullish chart signaling possible breakout from a symmetrical triangle pattern. Speculation within the XRP community suggests that if one drop of XRP equals $1, the price could soar to $1 million. However, achieving this would necessitate a staggering market cap of $100 quadrillion, far surpassing global asset values. Currently, XRP aims for a 17% short-term increase, targeting $0.69 but risks dropping to $0.50 if bearish momentum prevails. Overall, a $1 million valuation for XRP remains unrealistic under present market conditions. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin(BTC) Surpasses 65,000 USDT with a 2.04% Increase in 24 Hours Click to see more

Spot Gold Reaches New High At $2680 Per Ounce Click to see more

Bitcoin(BTC) Surpasses 64,000 USDT with a 0.62% Increase in 24 Hours Click to see more

How Vellos is transforming token markets 🐝 ~ ~ The journey for blockchain protocols extends beyond their Token Generation Event (TGE), facing challenges such as limited investor access and liquidity issues. Post-TGE projects struggle to secure funding and often divert focus from development to fundraising. Vellos offers a solution by providing a centralized marketplace for discounted tokens, allowing projects to engage their communities directly. This platform streamlines the funding process, enhances liquidity through dynamic NFTs, and fosters community support. Additionally, Vellos recently launched an engaging Telegram app to boost community growth. By addressing fragmentation and liquidity obstacles, Vellos empowers protocols to focus on innovation. @CryptoBuzzPosts 🐝 ~ ~

Crypto needs ‘to work closely with the regulators:’ Gemini deputy general counsel 🐝 ~ ~ Following the approval of two crypto exchange-traded products in the US, industry leaders emphasize the need for further regulatory progress. Teddy Fusaro from Bitwise noted that this year marks significant regulatory advancements. He highlighted the impact of court decisions, such as Grayscale’s victory over the SEC, on these developments. Chris Tierno from Gemini called the launch of bitcoin and ethereum spot ETFs a milestone for institutional involvement, stressing the importance of collaboration among industry players and regulators. Meanwhile, CFTC Commissioners Caroline Pham and Summer Mersinger criticized their agency’s focus on compliance violations instead of targeting genuine bad actors in crypto markets. @CryptoBuzzPosts 🐝 ~ ~