Bitcoin And Stablecoin News

In the crypto world today, Stripe CEO said stablecoins would force banks to provide real interest for deposits. US listed spot Bitcoin exchange traded funds (ETFs), kicked October off with billions of dollars in new inflows. And a crypto executive predicts that Bitcoin’s price cycle will 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 yield-bearing options has made it more attractive 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, the stablecoin market capitalization reached $292 billion by October. 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 launchInvestors are regaining their confidence.

Spot BitcoinBTCETFs reported cumulative net worth of $3.24 billion positive inflows Over the last week, the amount of money spent by Americans on the average was almost equal to the $3.38 trillion that they had in the week ending November 22, 2024. according SoSoValue data.

This figure represents a significant improvement over the $902 million of outflows that occurred in the week prior. Analysts attribute the change to an increased expectation of another US rate cut which improved sentiment towards risk assets.

Expectations of a further US rate cut have sparked 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 a great one for Bitcoin. “Uptober” Crypto investors are a growing group.

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’s exec: bitcoin cycle to continue.

Bitcoin’s 4-year cycle might not be exactly the same as the previous ones, but it doesn’t necessarily mean that the currency will crash. 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 Ahmad, the head of APAC for Gemini, spoke to Cointelegraph in a sitting-down interview held at Token2049, Singapore.

“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 The crypto-industry could absorb some volatility. “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