Kategorie: Crypto Markets

Bitcoin is a legitimate financial asset that offers new opportunities, says BlackRock chief executive officer Larry Fink.

What does this mean for other cryptocurrencies like Bitcoin Dogs (0DOG)?

Bitcoin is a legitimate financial asset, Larry Finks says

While the Blackrock CEO acknowledges his previous skeptical stance around Bitcoin and crypto, he says he’s learned about what it is. In this case, Fink sees his opinion from five years ago as having been “wrong” about Bitcoin.

Fink shared his latest comments on cryptocurrencies during a recent interview with CNBC. He noted:

“As you know I was a skeptic, I was a proud skeptic… But here’s my opinion today: I believe Bitcoin is legitimate, I’m not saying there isn’t some abuse here and there like everything else, but it is a legitimate financial instrument.”

According to the BlackRock CEO, Bitcoin offers a chance for investors to add an asset that allows for uncorrelated returns.

It’s a view that is increasingly taking shape across Wall Street and crypto is now a major part of most portfolios. As well as being bullish on BTC, investors are eyeing the benchmark asset’s related ecosystem projects – the burgeoning decentralized finance and layer 2 network.

Is Bitcoin Dogs an opportunity amid BTC adoption?

Bitcoin Dogs is one of the projects attracting a lot of attention in this space. Having launched the first BRC-20 token ICO on Bitcoin, the project’s market debut has come amid fresh interest in Bitcoin DeFi, gaming and NFTs.

0DOG, the native Bitcoin Dogs cryptocurrency, allows holders to participate in this markets while benefitting from overall opportunities available to crypto investors.

Bitcoin Dogs combines the meme element and a play-to-earn model, with traction coming as another ecosystem explodes on Telegram.

This suggests a potentially multi-pronged catalyst scenario for 0DOG price – the Bitcoin adoption curve, DeFi and NFTs and the P2E market across Bitcoin L2s and the Telegram mini-app space.

As part of Bitcoin Dogs’ key roadmap milestones, these features are also what could catalyse further momentum for Bitcoin Dogs.

Bitcoin Dogs plans massive 0DOG burn

Also adding to the price outlook and potential upward momentum for Bitcoin Dogs, is the scheduled burn for 0DOG tokens.

In a recent post, Bitcoin Dogs points to the 0DOG burn on September 24, 2024 as a major milestone.

🚨ANNOUNCEMENT 📣

🔥 Time to shove a firework up a puppy’s butt—not literally, dawg, but it’s time to see your #0DOG set alight and skyrocket! 🚀🔥

A major burn is coming 24/09/24, and you won’t want to miss out!

The more we burn, the higher the value of your tokens. 🌡️

Time… pic.twitter.com/BfflUTpQMP

— BitcoinDogsClub (@BitcoinDogsClub) September 17, 2024

Notably, burning removes coins from circulation – opening up 0DOG to potential price spikes. This could mean the current price just above $0.01 may be a huge opportunity to buy low. Currently, Bitcoin Dogs trades on Gate.io, MEXC and Uniswap.

Bitcoin Dogs price

0DOG has struggled in the market since its listing on major exchanges, particularly as Bitcoin price hit resistance below $60,000.

After breaking above the $60k amid flip in investor sentiment around upcoming interest rate cuts, BTC went on to reach highs above $61,200. Prices are back below $60k, but crypto analysts remain largely bullish.

Meanwhile, Bitcoin Dogs price is up nearly 56% after a recent pump following a dip to new lows. An opportunity to buy low means 0DOG price could yet rally alongside BTC and altcoins.

The post BlackRock CEO says Bitcoin is an opportunity: Bullish for Bitcoin Dogs? appeared first on CoinJournal.

• Circle announces support for USDC in Brazil and Mexico.
• The company has integrated local payment systems PIX and SPEI to enable local bank transfers with USDC.

Stablecoin issuer Circle has announced that its USDC is now available in Brazil and Mexico, with users in the two countries now able to access the stablecoin via local bank transfers.

Circle said in a Sept. 17 announcement that it had integrated top banks in Brazil and Mexico to allow for “national, real-time payment systems” with USDC. Specifically, Circle now supports integration with PIX and SPEI, the national payment systems for Brazil and Mexico.

Local bank transfers means businesses in the two countries now have direct access to USDC from large financial institutions, with this removing the need for wire transfers to overseas banks. This also means businesses can now access and use the stablecoin within minutes of a transaction, instead of the delays that took days in traditional settlement processes.

Huge potential for growth in Latin America

The launch of USDC in Brazil and Mexico will see users get the US dollar-pegged coin directly with their Brazilian Reais (BRL) and Mexican Pesos (MXN).

Circle is eyeing the broader Latin America with this expansion, with the market attractive for its massive cross-border flows.

For instance, Mexico’s trade with the US accounts for more than $800 billion in value exchange annually. Meanwhile, 95% of Brazil’s annual foreign trade amounting to $640 billion happens in dollars. Roughly $120 billion of this is from the US/Brazil trade.

While Circle continues to expand its USDC integration across national and regional payment systems, its growth across the crypto industry is also ongoing. On Tuesday, the company announced it was launching native USDC on Sui blockchain. Circle’s cross-chain transfer protocol is also coming to Sui.

As CoinJournal highlighted on Monday, Circle and Sony Block Solutions Labs have partnered to bring USDC onto the recently launched layer-2 blockchain Soneium. The stablecoin issuer was the first to receive regulatory approval under the MiCA regulations.

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• TON Foundation partners with Curve Finance to launch a stablecoin swap project.
• The stablecoin swap project will use Curve’s CFMM tech to reduce volatility and slippage for TON stablecoin trades.
• The project will be developed by an independent team under Curve’s Michael Egorov.

The TON Foundation has partnered with Curve Finance, a decentralized exchange (DEX), to launch a TON-based stable swap project. In a blog post announcing the partnership, TON Foundation, a nonprofit organization dedicated to advancing the Open Network (TON) blockchain, described it as a major step towards making stablecoin trading more accessible.

The new TON-based stable swap project aims at enhancing the trading experience for stablecoin swaps on The Open Network blockchain, using Curve Finance’s Constant Function Market Maker (CFMM) technology.

Reducing slippage and price volatility for stablecoin trades

This partnership is particularly noteworthy as projects seeking to use Curve Finance’s technology are typically required to obtain a license.

By integrating Curve Finance’s CFMM technology, renowned for minimizing the price impact on swaps between stablecoins and equivalent assets, the TON-based stable swap project is expected to offer users more efficient trading with less friction.

It will improve liquidity and reduce price volatility and slippage for stablecoin trades within the TON ecosystem.

By offering this innovative stable swap solution, the TON Foundation aims to enhance the broader adoption of its blockchain, while accelerating the growth of stablecoin trading.

Curve Finance’s founder to oversee the project’s development

The project, which will be developed by an independent team selected through a transparent process, will be overseen by Curve Finance’s founder, Michael Egorov, who will act as an advisor.

Egorov will assist the selected team in protocol mechanics and growth strategies.

The independent team will also be granted the rights to implement Curve’s CFMM formula in the new stable swap project, with a portion of the project’s tokens airdropped to eligible users.

The TON-based stable swap initiative marks a milestone in both platforms’ expansion, reinforcing the importance of stablecoins and low-slippage trading in the evolving DeFi landscape.

The post TON partners with Curve Finance for a TON-based stablecoin swap project appeared first on CoinJournal.

• BitGo launches a unified platform for Web3 token management and compliance.
• Major protocols like Worldcoin and Sui are already using BitGo’s new solution.
• BitGo is also the custodian for 21Shares’ US Spot Bitcoin and Ethereum ETFs and remains key in Wrapped Bitcoin (WBTC).

BitGo, a prominent cryptocurrency custodian based in the United States, has launched Token Management platform, a comprehensive digital asset management platform designed specifically for Web3 protocols.

This new offering, aimed at transforming how protocols handle token custody, distribution, and liquidation, promises to streamline the management of native tokens in a compliant and secure manner.

BitGo’s Token Management platform

The Token Management platform, as detailed in BitGo’s announcement, addresses the complexities and risks associated with Web3 token operations. It provides an end-to-end solution that encompasses token vesting, liquidity management, token unlocks, and staking.

By integrating these functions into a unified system, BitGo aims to eliminate the fragmentation and associated risks of using multiple, disjointed tools for token management.

The platform already supports major protocols such as Worldcoin, Sui, and LayerZero, highlighting its appeal to leading projects in the crypto space. Its automated processes are designed to offer a compliant, insured environment that upholds BitGo’s high standards of custodianship, thereby enhancing security and reducing the operational complexities faced by Web3 organizations.

BitGo diversification efforts

In addition to the new token management solution, BitGo has recently solidified its presence in the crypto ETF market.

21Shares has selected the firm to serve as the custodian for its US Spot ETFs, including the ARK Bitcoin ETF and Core Ethereum ETF. This role further underscores BitGo’s growing influence and its commitment to providing reliable custody solutions for institutional investors.

BitGo also continues to play a crucial role in the custody of Wrapped Bitcoin (WBTC), a token that facilitates Bitcoin’s participation in decentralized finance (DeFi). Despite recent controversies surrounding WBTC, including diversification efforts and the introduction of competing products like 21BTC, BitGo remains a key player in this space.

With its new platform and expanded services, BitGo is poised to offer innovative solutions that cater to the evolving needs of digital asset management and Web3 protocols.

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