Bitcoin And Stablecoin News

In the crypto world today, Stripe CEO claims that banks will be forced to offer real interest for deposits. US listed spot Bitcoin exchange traded funds (ETFs), which began October, saw billions of dollars inflows. A crypto executive also predicted that Bitcoin’s price cycle would continue.

Stripe CEO: Stablecoins force banks to compete on interest rates for users

Patrick Collison of Stripe said stablecoins are forcing banks to adopt them. offer competitive interest rates The rise in stablecoins with yields is a boon to consumers.

Collison said that stablecoins could disrupt the market by reducing average interest rates for deposits made by customers in Europe and the United States, which are all below 1%. He wrote:

“Depositors are going to, and should, earn something closer to a market return on their capital. Some lobbies are currently pushing post-GENIUS to further restrict any kinds of rewards associated with stablecoin deposits. The business imperative here is clear — cheap deposits are great, but being so consumer-hostile feels to me like a losing position.”

According to data from RWA.XYZAs the industry continued to thrive following the passage of a comprehensive US regulatory law,

Bitcoin ETFs kickstart “Uptober” With $3.2 billion, this is the second best week ever.

The US-listed Bitcoin ETFs started the traditionally bullish month October with their second-best week of inflows since launchInvestor optimism is on the rise, according to.

Spot BitcoinBTCETFs reported cumulative net worth of $3.24 billion positive inflows The week ended November 22, 2024. This week’s total is almost the same as the record set by the previous week of $3.38 Billion. according SoSoValue provides data.

This is a dramatic improvement from last week’s outflow of $902,000,000. Analysts said that the turn around was due to the growing expectations for another US interest-rate cut. This has led to a positive sentiment in risk assets.

Expectations of another US rate cut have triggered an increase in the price of a “shift in sentiment,” Attracting renewed investor interest in Bitcoin ETFs “bringing four-week inflows to nearly $4 billion,” Iliya Kalchev told Cointelegraph that he is the dispatch analyst of digital asset platform Nexo. “At current run-rates, Q4 flows could retire over 100,000 BTC from circulation — more than double new issuance.”

“ETF absorption is accelerating while long-term holder distribution eases, helping BTC build a stronger base,” He added that the key levels of technical support are near.

In October, the average return on Bitcoin is second best in history. This month, also known as “October”, has been considered to be one of the most profitable months for Bitcoin. “Uptober” By crypto investors

The $3.2 billion in Bitcoin transactions this week briefly lifted the price of Bitcoin to $123,996 at one point on Friday. This was a six-week old high, last seen back on August 14. TradingView The data show.

“Very likely” Gemini executive: Bitcoin will cycle in some form.

Bitcoin may not follow the same four-year cycle as in previous years, but that does not mean it will be a failure. concept is entirely dead, A crypto executive has said so.

“I think when it comes to the four-year cycle, the reality is that it’s very likely that we’ll continue to see some form of a cycle,” Saad Mohammed, head of APAC at Gemini crypto exchange, revealed to Cointelegraph, during an interview in Singapore, that he was sitting down with Token2049.

“It ultimately stems from people get really excited and overextend themselves, and then you kind of see a crash, and then it kind of corrects to an equilibrium,” Ahmed Ahmed

Ahmed added: growing institutional involvement Crypto industry can help absorb volatility in the markets. “You’ll see some of the volatility, kind of flag off, but you’ll still see some sort of a cycle, because ultimately, it’s driven by human emotion,” Ahmed Ahmed