cryptomatrix

Bitcoin at $57k 3 months ago vs Bitcoin at $57k today

Bitcoin just hit $58000

UAE regulations may lead to crypto payment ban, warns lawyer Crypto and blockchain lawyer Irina Heaver believes newly-released regulations in the United Arab Emirates (UAE) may prohibit crypto payments in the country. On June 5, the board of directors of the Central Bank of the United Arab Emirates (CBUAE) discussed projects under the country’s financial infrastructure (FIT) program, an initiative to boost digital transformation. In the meeting, the board approved the issuance of payment token services regulations to oversee and license stablecoins. The new guidelines suggested that payment tokens in the country must be backed by UAE dirhams and cannot be linked to other currencies.

Stablecoin transfer volume has increased 16x in four years, signaling growing crypto adoption. @cryptomtrx

#Crypto market today @cryptomtrx

Bitcoin Drops Below $68K, Ether Slumps in Sudden Crypto Sell-Off as ETH ETF Decision Looms The sell-off was broad-based, with DOGE, SHIB, AVAX, LINK diving more than 4% in less than an hour. Cryptocurrency prices took a hit Thursday as market participants waited for a U.S. regulatory decision on spot ether (ETH) exchange-traded funds. Bitcoin (BTC) dropped below $68,000 during the early U.S. trading session from around $70,000 earlier in the day, sliding almost 3% over the past 24 hours. ETH, which surged to its highest price since mid-March to above $3,900 early Thursday, tumbled to near $3,700, but was still in the green over the past 24 hours.

Revolut's Crypto Exchange Goes Live for Experienced Traders London-based Revolut, which has more than 40 million customers worldwide, has developed Revolut X to compete with leading crypto exchanges Revolut told customers it was set to introduce a crypto exchange in February. Revolut is among the first banks to build a standalone exchange to offer customers crypto trading.

TON blockchain developers announced a 2.5-fold reduction in the commission for transactions within the network According to the project team, the size of the transaction costs will vary depending on the value of the native token in dollars. At a price of 1 Toncoin (TON), the commission for the first transaction with Jettons will be around $0.06, and for subsequent ones, $0.04. Starting on April 16, transactions with USDT have and will continue to receive a special discount of 0.02 TON instead of 0.032 TON for the first transaction and 0.0145 TON for subsequent transactions. In the next node update, the developers plan to introduce the ability to pre-compile smart contracts.

This means that the most popular smart contracts, written in C++, will be embedded directly in the node, bypassing the need for TVM execution. This adjustment reduces resource consumption and, consequently, the fees associated with these contracts. TON announcement

TON coin holders while entire market is bleeding

Ripple to launch USD-pegged stablecoin Ripple will launch a new stablecoin pegged to the U.S. dollar, entering the $150 billion market dominated by Tether and Circle. The new stablecoin will maintain a one-to-one value with a mix of U.S. dollar assets, including deposits, government bonds, and cash equivalents, which Ripple will hold as reserves. The company plans to release monthly attestation reports about its reserves to ensure transparency, although it has not specified the auditing firm.

Crypto is the future

Bitcoin’s Stunning Climb to New Records Robust flows into new spot bitcoin funds are one of the primary catalysts of the rally

An average crypto investor experienced a gain of $887.60 in 2023, as reported by CoinLedger, a leading crypto tax software platform. The higher profits contrast sharply from 2022, a year of significant losses exceeding $7,000 per investor, following the collapse of key crypto firms and a pervasive bear market. “It’s clear that the cryptocurrency market is growing once again. After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices,” said CoinLedger CEO David Kemmerer in a press release. “This latest rebound highlights the growth of the crypto industry from 2022 to 2023.” These insights derive from an analysis of data from CoinLedger’s user base, which numbers over 500,000 investors, predominantly from the United States. The study also revealed that Ethereum (ETH) was the most frequently traded cryptocurrency among CoinLedger users in 2023, followed by Solana, Bitcoin, BNB, and Polygon. Despite Bitcoin’s global popularity, it ranked third in disposal, suggesting that Bitcoin investors might be more inclined to hold onto their assets than those investing in other cryptocurrencies. Ethereum also led the pack in the volume of blockchain transactions imported into CoinLedger’s tax software, ahead of Bitcoin, Binance Smart Chain, Polygon, and Avalanche C-Chain. Coinbase emerged as the most popular centralized exchange among CoinLedger’s predominantly American user base. The report also touched on Binance’s challenging year, including a $4.3 billion settlement with U.S. authorities and a lawsuit from the Securities and Exchange Commission, yet noted that Binance.US still ranked high for CoinLedger imports.

🔥🔥 Breaking: BlackRock scoops up 11,500 #BTC during the dip. BlackRock has reportedly bought a staggering 11,500 Bitcoin💰 from the available supply during the latest dip since the launch of its spot Bitcoin ETF. This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock effectively represents about 13 days’ worth of #Bitcoin production being absorbed by a single player.

💰 Vitalik, co-founder of #Ethereum, put forward four financial advices: 1. Diversification is good; 2. Save. Get to the point where you have enough to cover multiple years of expenses. Financial safety is freedom. 3. Be boring with most of your portfolio. 4. Don't use more than 2x leverage. Posted ahead of ETF Fomo and Volatility!

1 SOL = $115 🔥

🧊 The number of active #Litecoin $LTC addresses hitting a new all-time high of over 1.4 million addresses on December 8th

🔵 Ethereum as opposed to #Bitcoin Bitcoin recorded inflation of $1 billion (17K BTC) this month, and #Ethereum recorded deflation of $100 million (425,000 ETH) this month.

BITCOIN IS PUMPING HARD 🚀 MADE A NEW YEARLY HIGH OF $44,700

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