- BTC is playing hard to get, staying in a tight price range while we all wait for U.S. inflation data. 🙄
- Tether is getting cozy with Bitcoin and Lightning Network, while Kraken is back in the staking game! 🎉
So, Bitcoin [BTC] is just hanging out between $100K and $105K like it’s at a really boring party. After the FOMC update, the Fed decided to keep interest rates unchanged, because apparently, ‘inflation was somewhat elevated’ is the new ‘I’m fine, thanks.’ 🙃
As of now, our beloved king coin is strutting its stuff at $104K, just hours before the U.S. PCE (Personal Consumption Expenditure) price index report drops. Talk about a dramatic reveal! 🎭
This data is like the plot twist in a rom-com: it could either lift our spirits or send BTC crashing into the weekend like a bad date. Keep your eyes on those key levels: $97.5K, $108K, and $110K. 📉
Tether on Bitcoin, Kraken resumes staking
In other news, Tether is ready to mint USDT on Bitcoin’s base layer and the Lightning Network. Because why not add more drama to the crypto world? 💥
They’re using Taproot Assets, which sounds like a fancy new cocktail but is actually a protocol that lets us play with tokenized assets like USDT. Cheers to that! 🍹
Paolo Ardoino, Tether’s CEO, had this to say:
“By enabling USDt on the Lightning Network, we are not only reinforcing Bitcoin’s foundational principles of decentralization and security but also creating practical solutions for remittances, payments, and other financial applications that demand both speed and reliability.”
Meanwhile, Kraken is back in the staking game after a two-year timeout, thanks to the SEC playing the role of the strict parent. 🙄
On January 30th, Kraken announced a new on-chain staking service. Users can stake their tokens and earn rewards, minus fees, of course. Because who doesn’t love a little fine print? 📜
This service will be available in 39 U.S. states and will include Ethereum [ETH], Solana [SOL], Polkadot [DOT], Cardano [ADA], and a few others. It’s like a crypto buffet! 🍽️
Mark Greenberg, Kraken’s Head of Consumer, called this move “positive” for the U.S. crypto space. I mean, who doesn’t love a little positivity in a world full of market volatility? 🌈
“Launching this new staking product in the U.S. is an overwhelmingly positive development, not just for Kraken but also for the entire U.S. crypto space.”
Bitwise gets the SEC nod
And finally, Bitwise got the SEC’s thumbs up for its combined BTC and ETH ETF application. It’s like getting a gold star in crypto school! 🌟
The regulator approved its 194-b filing (rule change) and is now just waiting for the S-1 form to get the green light for public trading. Talk about a nail-biter! 😬
Bloomberg ETF analyst, James Seyffart, noted that recent movements on S-1’s suggest that these products, including similar applications for Hashdex and Franklin Templeton, could be hitting the market soon.
He said,
“There was movement with Hashdex yesterday and today. There were updates filed with relation to their S-1 and 19b-4. This indicates to me that these products are likely to list in the very near future.”
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2025-01-31 19:08