Kategorie: Crypto News

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BlackRock CEO says Bitcoin is an opportunity: Bullish for Bitcoin Dogs?

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.

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.

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Google Cloud rolls out new blockchain RPC service

  • Google Cloud announced the new blockchain remote procedure call service on Sept. 17
  • The blockchain RPC service is compatible with Ethereum and offers up to 100 requests per second.
  • Google Cloud targets developers in the web3 space, aiming to scale development and deployment of decentralized applications.

Google’s cloud computing platform has announced the launch of a new Remote Procedure Call service aimed at supporting developers in the web3 space.

According to details in an announcement, Google Cloud’s blockchain RPC service is fully-compatible with Ethereum. Developers will leverage the new service for a cost-effective, scalable and reliable access to blockchain data.

The RPC service targets developers building decentralized applications across the Web3 ecosystem, from startups to large enterprises. All these will have the opportunity to leverage Google Cloud’s reliability and performance, the company said.

“Google Cloud’s Blockchain RPC offerings deliver fast response times – exactly what you’d expect from them,” Kyle Quintal, head of engineering at 0xArc, said in a statement.

“Coupled with the fact that Google Cloud follows the EIP1474 standards and has the free-tier option, we integrated its service into our system right away and haven’t looked back,” Quintal added.

Initial support for Ethereum

Other than offering a free tier, the Blockchain RPC allows for up to 100 requests per second. While it will initially support the Ethereum mainnet and testnets, Google Cloud plans to expand the service to more blockchain networks over the next one year.

Google Cloud will host a webinar aimed at discussing its new RPC product on October 10, 2024

This is Google Cloud’s latest Web3 push, with recent inroads including the addition of 11 blockchain networks to its public datasets program ‘BigQuery.’

The platform has also inked partnerships with multiple blockchain platforms, including Polygon, Sui and Fantom.

The post Google Cloud rolls out new blockchain RPC service appeared first on CoinJournal.

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Bitcoin price jumps to a three-week high

  • Bitcoin price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning.
  • Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains.
  • Crypto stocks have risen modestly ahead of the Fed’s expected rate cut announcement.

Bitcoin price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector and related stocks. It soared 5.6%, reaching $61.1K by 11:55 a.m. ET before pulling back to around $61k.

Bitcoin price jumps to a three-week high

The surge marks a sharp reversal from the quiet start to the week, signalling renewed interest in digital assets.

Altcoins and Bitcoin price soaring ahead of Fed cuts

Besides Bitcoin, other major cryptocurrencies have also seen significant gains, with Ethereum (ETH) advancing 4.2% to $2.38K.

Notably, some altcoins have outpaced the larger tokens. For example, Celestia (TIA) has seen a 15.7% increase, Immutable X (IMX) has risen by 14.8%, Near Protocol (NEAR) is up 9%, Uniswap (UNI) has climbed 8.9%, and Sui (SUI) has gained 8.1%.

The rally comes just ahead of the Federal Reserve’s highly anticipated decision on interest rates.

Market analysts widely expect the central bank to lower rates for the first time in four years. With inflation largely under control and the labour market showing signs of cooling, many believe the Fed will adopt a more accommodative stance.

Lower interest rates are typically bullish for cryptocurrencies, as reduced borrowing costs make traditional savings and investment vehicles less attractive. As a result, investors often turn to riskier assets like cryptocurrencies in search of higher returns.

Crypto-focused stocks also surge

Crypto-focused stocks have also benefited from Bitcoin’s rally, though their gains were generally more modest compared to digital tokens.

MicroStrategy (MSTR), a company known for holding large reserves of Bitcoin, inched up by 0.6%.

Crypto exchange platform Coinbase Global (COIN) has risen by 3%, while crypto investment firm Galaxy Digital (OTCPK) has gained 5.4%.

In the crypto mining sector, Riot Platforms (RIOT) has advanced 2.4%, MARA Holdings (MARA) has risen by 1.9%, and HIVE Digital Technologies (HIVE) has climbed 4.3%. Bit Digital (BTBT) saw the largest jump, gaining 13%, followed by Hut 8 (HUT) with a 6.6% rise and CleanSpark (CLSK) up 3.1%.

As the broader stock market also experience buying pressure ahead of the Federal Reserve’s pivotal decision, the crypto sector continues to ride the wave of optimism surrounding the potential for lower rates and increased investment in digital assets.

The post Bitcoin price jumps to a three-week high appeared first on CoinJournal.

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Singapore’s DBS Bank to launch crypto options and structured notes in Q4 2024

  • DBS Bank to launch OTC crypto options trading linked to BTC and ETH in Q4 2024.
  • Clients can hedge against volatility through options and structured notes.
  • DBS continues integrating blockchain and Web3 for institutional-grade access.

Singapore’s DBS Bank is set to launch over-the-counter (OTC) crypto options trading and structured notes in the fourth quarter of 2024.

This initiative aims to cater to the needs of institutional clients looking for ways to manage the volatility associated with major digital assets like Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization.

DBS’s crypto options and structured notes

According to DBS, clients who wish to gain exposure to cryptocurrencies can now do so through options trading and structured notes.

A crypto options contract derives its value from the price of underlying digital currencies. It enables traders to lock in the right, but not the obligation, to buy or sell an asset at a predetermined price at a future date.

By purchasing put options, for example, clients can secure the ability to sell Bitcoin at a fixed price, regardless of market conditions at the time of execution, thus providing a layer of protection against price drops. This flexibility is particularly useful for investors seeking to manage the volatility of their crypto portfolios.

In addition to options, DBS will offer structured notes, which are debt securities whose returns are tied to the performance of underlying assets.

Structured notes provide investors with more customized opportunities, allowing them to capitalize on market movements while potentially reducing risk through tailored financial products.

DBS expanding its digital asset services

Announced on September 17, 2024, DBS’s new offerings will give institutional investors access to advanced financial products linked to BTC and ETH.

These products, which include crypto options contracts and structured notes, are designed to allow investors to hedge against the market fluctuations that have historically characterized the cryptocurrency space.

With this move, DBS is expanding its digital asset services to include more sophisticated strategies, aligning itself with the growing demand for institutional-grade access to digital assets.

According to Jacky Tai, DBS’s group head of trading and structuring, institutional clients are increasingly allocating funds to digital assets, and this expansion provides them with a new channel for incorporating advanced strategies into their portfolios.

DBS’s commitment to offering “trusted institutional-grade access” to digital assets is in line with its broader mission of integrating blockchain technology and Web3 infrastructure into its financial services.

As Singapore continues to lead in the global adoption of digital assets, DBS Bank remains at the forefront, leveraging regulatory support and technological innovation to provide cutting-edge solutions for its clients.

The post Singapore’s DBS Bank to launch crypto options and structured notes in Q4 2024 appeared first on CoinJournal.

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Circle enables USDC transfers in Brazil and Mexico

  • 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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