- Crypto remained quiet as BTC consolidated near $64K ahead of key U.S. inflation data.
Kamala Harris reinforced the need for the U.S. to dominate AI and blockchain.
As a seasoned crypto investor with a knack for spotting trends and deciphering market signals, I’m keeping my eyes glued to the charts as we inch closer to the U.S. inflation data release. The calm before the storm is always an interesting period, and this one seems no different. Bitcoin, Ethereum, and Solana have been treading water, but I can sense that a wave of volatility might be on its way.
For several days now, the price of Bitcoin (BTC) has remained stable within a range of approximately $62,000 and $64,000. There’s currently no significant market event or factor driving the price movements.
Similarly, the tranquil movement was noticeable in Ethereum (ETH) and Solana (SOL), with both coins holding steady around $2600 and $150 respectively.
As a crypto investor, I’m keeping a close eye on this week’s upcoming releases: the U.S. GDP reading, Chair Jerome Powell’s comments, and the U.S. inflation data. These could potentially cause some market fluctuations that I need to be prepared for.
Kamala Harris calls for US dominance in ‘AI and blockchain’
For the very first time, Vice President Kamala Harris has voiced her thoughts about blockchain technology and digital assets.
During her speech at the Pittsburgh Economic Club, Harris emphasized the importance of America continuing to lead in technologies that are expected to shape the upcoming century. In other words, she highlighted the significance of America staying ahead in these emerging technological fields.
“We will … remain dominant in AI, quantum computing, blockchain, and other emerging technologies.”
The crypto community welcomed her reaffirming support for digital assets, but some called for more action.
Kristin Smith, head of the Blockchain Association, an organization representing the sector’s viewpoint, advocated for the change of SEC chair Gary Gensler and the termination of Operation Choke Point 2.0 (restriction of banking access to crypto companies), irrespective of who wins the U.S. elections.
As someone who has closely followed political races for several years, I can say that the upcoming U.S. elections are shaping up to be incredibly close, with the odds of Harris or Trump winning being similar to flipping a coin. Based on data from prediction site Polymarket, Harris currently leads Trump by only 1 point, which highlights just how tight this race is. If I were in the industry, I would prepare for either outcome and be ready to adapt my strategies accordingly. This situation presents an opportunity for both candidates to make significant gains, making it a potential win-win scenario for the American people.
PayPal enables crypto support for U.S. merchants
American companies now have the option to purchase, store, or trade cryptocurrencies using their PayPal business platform. This development is yet another significant step in the widespread acceptance and practical application of cryptocurrencies.
In response to the latest development, Jose Fernandez da Ponte, who is Vice President of Blockchain at PayPal, stated that there is a demand for this service from merchants.
More and more business owners are asking for the ability to use cryptocurrencies just like consumers do. We’re thrilled to provide a solution to this need, giving them an easy way to interact with digital currencies.
PayPal is set to become part of an expanding group of services enabling business transactions using cryptocurrency within the United States, joining companies like Coinbase Commerce and BitPay who already offer similar services.
What’s next for HMSTR after the airdrop and listing?
In simpler terms, the Tap-to-Earn game called Hamster Combat, which is accessible via Telegram, started distributing a total of 131 million HMSTR tokens to more than 300 million of its players.
As stated by Ton blockchain, the network hosting the token, this airdrop was the biggest in cryptocurrency history and placed an enormous strain on the platform as a significant stress test.
However, there were notable community concerns about low payouts during the campaign.
According to research analyst Ryan Lee from Bitget, speaking with AMBCrypto, the HMSTR token might exhibit significant price fluctuations due to its presence on multiple exchanges and user apprehensions.
For the immediate future, you might notice that HMSTR’s price may fluctuate greatly… driven by speculative purchases and market excitement… However, once speculators cash out their gains, there might be a dip or correction.
He added,
Over a period of time, the cost could be influenced by the genuine advancement of the project and the level of confidence users have in it.
For now, the game has revealed its 2025 plan, featuring desktop game integrations and fresh game releases. However, whether it will garner support from users post-airdrop remains uncertain.
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2024-09-27 00:08