Bitcoin And Stablecoin News

In the crypto world today, Stripe CEO said stablecoins would force banks to provide real interest rates on users’ 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 will continue its price cycle.

Stripe CEO claims stablecoins would force banks into offering users competitive interest on deposit

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.”

Data from RWA.XYZThe sector has continued to expand in response to a new comprehensive regulation bill that was signed into law by the United States.

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

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

Spot BitcoinBTCInvesting in ETFs generated a cumulative net 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.

The outflows of $902 millions the week before have been slashed by a significant amount. Analysts attribute the change to expectations that another US rate cut will occur, leading to a positive sentiment towards risk assets.

The growing expectation of another US rate reduction triggered an increase in the price of oil. “shift in sentiment,” Attracting renewed investor interest in Bitcoin ETFs “bringing four-week inflows to nearly $4 billion,” Iliya Kalchev is a dispatch analyst for 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,” Added he, “near key technical support levels”.

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 executive: Bitcoin will cycle in some form.

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, According to a crypto executive.

“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 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