Author: Benjamin Lee

Stablecoins could serve as a boon for US dollar adoption, according to the Atlantic Council, a nonpartisan think tank. Barbara C. Matthews and Hung Tran, senior fellows at the Council’s Geoeconomics Center, note in a new analysis that the $227 billion stablecoin market is “tiny” compared to the $6.22 trillion US capital markets and the $3.39 trillion overall crypto market capitalization. “If current double-digit growth rates for stablecoins continue, they could constitute a considerable proportion of overall crypto market capitalization, if not capital markets themselves. More importantly, the vast majority of stablecoins are pegged to the US dollar. Rapid adoption…

One of the co-founders of the controversial memecoin LIBRA says the project itself “sniped” the token right after it rolled out. In crypto trading, sniping refers to the practice of using trading bots or scripts to buy a newly launched coin ahead of big transactions or the entry of retail traders. Snipers get their edge by buying early in anticipation of a massive spike in trading volume with the arrival of other investors. In a new interview on the voidzilla YouTube channel, LIBRA co-creator Hayden Davis says he does not deny that wallets linked to the project sniped the memecoin…

International digital asset management firm CoinShares says institutional crypto investors have finally ended their post-US election 19-week crypto buying spree. According to Coinshares, institutional whales pulled over $415 million out of crypto products last week after nearly 20 weeks of inflows. “Digital asset investment products saw their first significant outflows, totaling $415m, following an unprecedented 19-week post-US election inflow streak that amassed $29.4bn — far surpassing the $16bn recorded in the first 19 weeks of US spot ETF (exchange-traded fund) launches that began in January 2024.” Source: CoinShares Coinshares also postulates that a hawkish Fed may have precipitated the drop. “We…

Macro guru and Real Vision chief executive Raoul Pal says that Bitcoin (BTC) and other top altcoins are all looking strong despite choppiness in crypto markets. In a new thread on the social media platform X, the ex-Goldman Sachs executive says that Bitcoin, Ethereum (ETH), Solana (SOL) and Sui (SUI) are printing bullish patterns on their higher time frame charts. “We remain in the midst of the greatest macro trade of all time. All the wiggles and the timeline FUD (fear, uncertainty and doubt) are just noise. All you require to capture it is not be too far out on…

The chief executive of USDT stablecoin issuer Tether is reportedly working with US authorities to construct laws around dollar-pegged crypto assets. In a new post on the social media platform X, Fox Business journalist Eleanor Terrett reports that Paolo Ardoino and Tether are “actively engaging” with the US government on how to best form laws around stablecoins. According to Ardoino, not only will Tether advise on the stablecoin bills unveiled this month, the firm will comply with the law whichever way the regulation goes. “We are going to work within the regulatory framework, and we are going to try to…

An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes two top memecoins are setting the stage for breakout rallies. Pseudonymous analyst Bluntz tells his 316,100 followers on the social media platform X that memecoin Floki (FLOKI) appears to be flashing bullish reversal signals on the daily and four-hour charts. According to Bluntz, FLOKI has printed a bullish divergence on the daily chart, indicating that the crypto asset is seeing a rise in buying momentum. He also says FLOKI is trading within an ascending triangle pattern, a structure typically viewed as a bullish reversal formation.…

One mid-cap layer-1 altcoin recently saw a boost in whale activity, according to the crypto analytics firm Santiment. Santiment tracks the number of altcoin transactions worth more than $100,000, which it considers “whale transactions.” The firm subsequently identifies which altcoins clock the biggest percent changes in whale transactions week over week. This week, Fasttoken (FTN) topped Santiment’s list with a staggering 600% increase in whale transaction count (TC). FTN is the native token of the layer-1 Bahamut blockchain, which utilizes a unique consensus mechanism called Proof of Stake and Activity (PoSA). Explains the project’s whitepaper, “Proof-of-stake systems preach that the…

A crypto strategist known for accurately calling the 2021 digital asset cycle top says the real-world asset (RWA) sector is showing a lot of market strength. The analyst pseudonymously known as Pentoshi tells his 854,800 followers on the social media platform X that Chintai (CHEX), Ondo Finance (ONDO) and Clearpool (CPOOL) are three RWA altcoins poised for rallies. RWA crypto projects aim to tokenize traditional assets so that they can be traded on blockchains, enabling efficiency and accessibility, fractional ownership and other benefits. Says Pentoshi, “CHEX, ONDO, CPOOL: RWA play updates. CHEX actually made new highs after the big sell-off…

A widely followed analyst and trader is leaning bullish on one large-cap altcoin while updating his outlook on two other crypto assets. The analyst and trader pseudonymously known as DonAlt tells his 649,700 followers on the social media platform X that Litecoin (LTC) has “one of the best-looking crypto charts right now.” Based on DonAlt’s chart, it appears he is suggesting that Litecoin is potentially forming an ascending triangle on the weekly time frame. In technical analysis, an ascending triangle is typically considered bullish as the asset prints higher lows. Source: DonAlt/X On the possible reason behind Litecoin’s bullishness, the…

A closely followed crypto analyst says one key metric indicates Bitcoin (BTC) may have a hard time breaking out anytime soon. In a new thread, crypto trader Justin Bennett tells his 115,800 followers on the social media platform X that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin. Many traders closely watch the USDT.D chart as it shows how much of the crypto market cap is comprised of the stablecoin USDT. A bullish USDT.D chart is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin.…