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 worth of 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, CEO of Stripe, said that the stablecoins would force banks into adopting them. offer competitive interest rates Stablecoins that offer a yield are increasingly popular with customers.

Collison pointed to the average rates of savings offered by banks in Europe and America, all well below 1%. Stablecoins are a perfect solution for this. 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.

The US-listed Bitcoin ETFs started the traditionally bullish month October with their second-best week of inflows since launch. This signals renewed investor confidence.

Spot BitcoinBTCThe cumulative net worth of ETFs was $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 a significant improvement. Analysts attribute the change to increasing 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 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 the most profitable 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 Data shows

“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, 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 replied: 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