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Altcoins, Blockchain

Paxos launches USDG global dollar network with partners including Robinhood, Kraken

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Paxos has joined forces with major industry players to launch the Global Dollar Network, a strategic initiative aimed at accelerating stablecoin adoption worldwide.

The partnership, announced on Nov.  5, includes well-known names like Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood.

By pooling resources, these partners intend to drive stablecoin adoption and unlock new real-world applications. While these six companies are the initial collaborators, Paxos plans to welcome additional partners as the initiative expands.

Global Dollar Network

Paxos outlined that the Global Dollar Network addresses challenges common to most stablecoins, which often struggle to meet enterprise-level customer protection standards, limiting the potential for widespread enterprise use and affecting sectors like payments, custodial services, exchanges, and investment platforms.

The Global Dollar Network aims to tackle these gaps by providing a reliable stablecoin backed by an economically beneficial partnership structure. Leveraging the combined resources of its partners, the network is set to enhance both crypto and financial solutions for various sectors.

Overall, the group aims to transform the stablecoin market with a solution that meets the rigorous standards of global enterprises.

Charles Cascarilla, CEO and Co-Founder of Paxos, said:

“Global Dollar Network will return virtually all rewards to participants and is open for anyone to join. It is designed to incentivize global stablecoin usage and accelerate societal wide adoption of this technology.”

USDG

At the heart of this effort is a new USD-backed stablecoin called the Global Dollar (USDG).

USDG was designed to align with Singapore’s forthcoming stablecoin regulations. DBS Bank, Southeast Asia’s largest bank, will hold USDG reserves and also act as the primary banking partner, offering essential cash management services for the stablecoin.

Starting today, users on platforms such as Anchorage, Galaxy, Kraken, and Paxos can access USDG. The stablecoin is expected to roll out to the networks of other distribution partners soon.

Arjun Sethi, Co-CEO at Kraken, said:

“The lack of competition in the regulated stablecoin market has prevented the industry from reaching its full potential. USDG upends this dynamic with a more equitable model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases.”

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Altcoins, Uncategorized

Trump’s Coin Is About As Revolutionary As OneCoin

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Follow Aaron on Nostr or X.

After these classy gold sneakers and his God Bless the USA Bible, Donald Trump’s cryptocurrency World Liberty Financial (WLFI) immediately appeared to me like yet another way to squeeze some more money out of his fanbase. But when YouTuber Coffeezilla analyzed the project in more detail, what he found was even more ridiculous than what I was expecting.

For starters (though unsurprisingly), WLFI is completely pre-mined. 20 billion coins, which represent 35% of the total supply, are being sold for $0.015 each. The other 65% of coins is allocated to protocol development and insiders.

This means they value the WLFI project around $900 million, immediately bringing it into the same ballpark as something like Bitcoin SV (perhaps fittingly). In reality, however, less than 1 billion coins have been sold so far, making it closer to a $14 million market cap coin, more similar to projects like Pikaboss or Boba Oppa— I’d never heard of them either.

It’s equally unsurprising that WLFI doesn’t accomplish anything new or interesting (lending and borrowing on the existing Aave protocol), or that it’s not decentralized in any meaningful way, or that one of the project’s cofounders has a dodgy history in this space already.

But what even I didn’t expect, is that WLFI is indefinitely non-transferable. That’s right, for the time being, at least, you can’t send these coins to anyone. You can just buy them, and, I guess, sell them back later? Maybe? This sounds more like OneCoin — the notorious fraud that was a cryptocurrency in name only — than any serious altcoin I’ve ever heard of.

While Nikolaus and Calli believe the former president truly embraced Bitcoin, I don’t think he actually changed his mind on cryptocurrency much at all since three years ago… I think he just wants in on the scam.

Watch the full Coffeezilla episode here:

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of Coinsbtmnews.

Altcoins

Chainlink Whales Pour Investments Into This $0.035 AI Token Expected to Outperform POL and LINK

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Major investors are funneling substantial funds into a low-cost AI token predicted to outperform major cryptocurrencies like POL and LINK. This surge of interest from influential figures is stirring the crypto market. The move hints at a potential game-changer in digital assets. What is this emerging token that’s capturing the attention of savvy investors?

CYBRO Presale Soars Past $3 Million: A One-in-a-Million NeoBank Investment Opportunity

CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $3 million. This cutting-edge NeoBank offers investors unparalleled opportunities to maximize their earnings in any market condition.

Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.03 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest.

In addition to tokens, CYBRO introduces special Points, offering even more opportunities for investors. Holders of these Points will automatically participate in the CYBRO Airdrop, where the more Points you hold, the more tokens you will receive. CYBRO distributes up to 1 million Points weekly, which can be earned by investing in DeFi Vaults in the CYBRO app.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.

With only 21% of the total tokens available for this presale and approximately 80 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.

>>>Join CYBRO and aim for future returns up to 1200%<<<

Polygon Ecosystem Token: The Future of Decentralized Growth

The Polygon Ecosystem Token (POL) is central to the expanding Polygon network. It plays a key role in staking, letting holders secure the network and earn rewards. It also empowers holders with voting rights to shape the network’s future. POL grants access to exclusive features within the ecosystem, opening doors to special opportunities.

As Polygon’s network grows, the demand for POL could increase, potentially boosting its value. With its strong use cases and community-driven governance, POL looks promising in the current market cycle. This could be a compelling addition to your crypto portfolio.

Chainlink (LINK) Set to Soar: A Bullish Outlook on Decentralized Oracle Network

Chainlink (LINK) offers a unique solution by connecting smart contracts to real-world data, enhancing their capability. This decentralized oracle network is crucial for blockchain, allowing smart contracts to interact with external applications securely. With its reputation score mechanism ensuring data accuracy, Chainlink appears poised for significant growth. Its LINK token is vital, rewarding data providers and maintaining network reliability.

As blockchain technology expands, the demand for real-world data integration rises, making Chainlink’s technology increasingly important. In the current market, LINK looks attractive and ready for a bullish surge, aligning well with the ongoing altcoin season.

Conclusion

In conclusion, while established coins like POL and LINK may offer less potential for short-term gains, CYBRO stands out as a compelling alternative. As a technologically advanced DeFi platform, CYBRO provides investors with exceptional opportunities to maximize earnings through AI-powered yield aggregation on the Blast blockchain. Features such as attractive staking rewards, exclusive airdrops, and cashback on purchases enhance its appeal.

CYBRO ensures a superior user experience with seamless deposits and withdrawals. By emphasizing transparency, compliance, and quality, CYBRO distinguishes itself as a promising project with strong interest from crypto whales and influencers. With the bull run of 2024 underway, CYBRO presents a significant opportunity for investors seeking growth in the crypto market.

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Blockchain, Business, Web3

Expect Great Returns With These Altcoins in Bitcoin’s (BTC) Run

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Bitcoin’s recent run to $73,000 has given traders and investors a taste of what is to come. As market participants await the next run, altcoins provide an excellent opportunity to take advantage of the bullish sentiment in the crypto market. 

Bitcoin recently experienced a great run, which saw it come close to its all-time high. BTC, as the market leader, sets the pace for the altcoins, meaning investors can expect excellent returns during BTC’s next run. 

Bitcoin (BTC) Proves Its Worth

Despite facing significant pressure due to many external factors, BTC continues to show its capabilities. After coming close to new heights last week, BTC faced a significant pullback as the US presidential election draws closer. Despite dropping below $68,000, BTC managed to reclaim its position above $69,000. 

Pauline Shangett, CMO of ChangeNOW, commented on BTC’s dip. Shangett stated,

“Bitcoin’s dip to below $68,000 shows it is not immune to the market’s immense pressure. While the drop suggests caution from investors, BTC’s partial recovery underscores its resilience in these uncertain times.”

Baby Doge Coin (BABYDOGE)

Baby Doge Coin (BABYDOGE) is a project committed to bringing DeFi solutions and cryptocurrency to the public. Launched in June 2021 by a team of anonymous developers, the project has generated massive market hype in the crypto community. BABYDOGE is built on the Binance Smart chain and has recently been listed on the Binance exchange. The project offers excellent scalability, efficiency, and speed solutions, boasting low gas fees and more transaction processing power. BABYDOGE has witnessed significant growth recently, and investors will soon reap incredible rewards if the altcoin continues with its current momentum. 

Husky Inu (HINU)

Husky Inu ($HINU) is the newly launched Solana-based memecoin that quickly made its mark within the crypto space, positioning it as a worthy opponent to best friend Shiba Inu (SHIB) and memecoin OG, Dogecoin (DOGE). The project’s recently launched presale has gone very well, with the first stage selling out within days. The second stage of its presale sold out, and the project is undertaking its third fundraising round with great enthusiasm. At the time of writing, the $HINU presale raised nearly $473,000.

Husky Inu has grand ambitions for its future. The project has an Earn App in the works and plans to launch a Decentralized Exchange (DEX). The Earn App will allow its users to receive HINU tokens as a reward for engaging with the platform. The DEX will facilitate decentralized trading and enhance utility and value for $HINU holders.

The project made a name for itself thanks to its commitment to a reliable token ecosystem. It achieves this through a carefully designed distribution model and capped maximum supply. Husky Inu boasts several unique features that set it apart from traditional investment opportunities, including a capped token supply, a deflationary mechanism, speedy transactions, and charity voting.

Shiba Inu (SHIB)

Shiba Inu (SHIB) remains a top-selling memecoins with a market cap exceeding $10 billion. The decentralized community-led token and its reputation and tagline as the “Dogecoin Killer” have rewarded its investors in the past year. SHIB is also a member of the Solana network and is Husky Inu’s best friend. Shiba Inu (SHIB) quickly rose to fame in the crypto industry and has since become a household name. This decentralized, community-led project and its native token, SHIB, quickly gained the attention of its dedicated community of investors thanks to its overall charm and support from industry giants such as Ethereum co-founder Vitalik Buterin and Tesla CEO Elon Musk.

Ripple (XRP)

Ripple leverages decentralized blockchain technology to facilitate cheaper and faster cross-border payments. Unlike traditional blockchains that rely on PoW or PoS mechanisms, Ripple employs a unique consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA). The RPCA facilitates fast and efficient transactions by validating and reaching consensus across a network of nodes without utilising an energy-intensive mining process. Ripple was created to enable real-time, cross-border payments and remittances for banks and financial institutions, and it aims to be a cost-effective alternative to the SWIFT network. The XRP cryptocurrency is the native token of the XRP Ledger and the bridge currency within the Ripple network.

Pepe (PEPE)

Pepe (PEPE) is a fan favourite among crypto investors, gaining over 630% in the past year. The project is currently the third largest memecoin by market cap and quickly gained infamy for being a tribute to the 2000s internet meme sensation Pepe the Frog. Pepe’s likeability and continued reward streak should be reason enough to add to your portfolio. Pepe (PEPE) has developed a robust community and is gaining traction in the meme coin arena. Its rapid ascent has drawn parallels with other popular meme tokens, and future projections remain highly optimistic. Expectations are set for PEPE to potentially increase by over 2100% by 2030, making it an attractive option for those interested in memecoins’ speculative aspects. 

Visit the following links for more information on Husky Inu:

Website: Husky Inu Official Website

Twitter: Husky Inu Twitter

Telegram: Husky Inu Telegram

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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Bitcoin

US markets, Bitcoin poised for rally regardless of elections outcome

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Fundstrat Global Advisors’ Tom Lee and analysts from Bernstein predict robust markets heading into 2025, regardless of the results of the upcoming US presidential election.

While Lee expects a broader market rally across sectors, Bernstein highlighted Bitcoin’s (BTC) resilience amid political uncertainty.

Tom Lee, managing partner and head of research at Fundstrat, recently shared his views on CNBC, stating that favorable economic fundamentals and a dovish Federal Reserve position make a strong case for a year-end rally.

According to Lee, sidelined cash could flow back into the market as election-related uncertainty clears up. He said:

“I’m bullish only in the sense that election uncertainty has caused people to derisk and cash to sit on the sidelines, but the fundamentals have been good.”

Lee referenced strong earnings reports and Fed support as strong drivers once the uncertainty around elections subsides. He believes that even with a divided or unified government, markets could perform well through the end of 2024 and beyond.

Bitcoin to withstand political shifts

Lee’s comments come alongside Bernstein’s outlook on Bitcoin, which they say remains poised to withstand political shifts.

In a note released on Nov. 4, Bernstein analysts highlighted Bitcoin’s structural drivers, including US fiscal policy, record debt levels, and increased demand for hard assets, as factors supporting its long-term growth.

According to Bernstein, “Bitcoin remains the most resilient within crypto,” and its limited market share compared to global fiscal assets leaves ample room for growth. The firm has set a price target of $200,000 for Bitcoin by 2025, anticipating the digital asset’s appeal in an environment of fiscal indiscipline and monetary expansion.

Bernstein analysts also noted that Bitcoin’s recent ETF adoption — bringing in over $23 billion in year-to-date inflows — may add to its momentum, regardless of who wins the presidency.

They see a potential initial price response depending on the election outcome, with a Trump victory possibly pushing Bitcoin toward new highs of $80,000 to $90,000, while a Harris win could initially lead to a dip near $50,000. The analysts emphasized that Trump’s perceived pro-crypto stance contrasts with Harris’s reportedly hawkish position.

Bitcoin, Business

The US Should Establish A Strategic Bitcoin Reserve

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This morning, the Bitcoin Policy Institute (BPI) released a 53-page report on the pros of the United States establishing a strategic bitcoin reserve (SBR).

The authors of the report touched on four key benefits of holding bitcoin as a strategic reserve asset:

  • Economic and monetary stability — bitcoin is a hedge against currency debasement and debt instability
  • Geopolitical competition — the US could gain a strategic advantage over other countries that are contemplating starting a bitcoin reserve and can reinforce the US’ influence over global financial standards
  • Energy and climate — Bitcoin mining can be leveraged to accelerate the movement toward renewable energy
  • Financial inclusion and human rights — the US can promote both the concepts of individual freedom and financial inclusion for both US citizens and those abroad

While I agree that the US’ establishing an SBR would have these benefits, I also think it would send a certain message loud and clear: We embrace change in the United States.

We can tell the world that we’re aware of Bitcoin’s numerous positive attributes and that we want to use them to our advantage.

In doing so, we can shift the narrative around Bitcoin from something to be feared and controlled to something that should be embraced and utilized, and we can stand behind a tool that can be used to increase the financial buoyancy of both people and institutions around the globe instead of standing in its way.

  

Altcoins, Analysis

This Altcoin is Dead-No Matter Trump Wins or Harris— May Remain Consolidated Below the Range

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The third-generation token, Cardano, rose to fame before the second phase of the 2021 bull run after rising above $3, but it has failed to attract users’ attention since then. Although the start of the year triggered significant bullish waves, the token failed to keep up the upswing, and a notable shift was observed away from crypto. As a result, the ADA price has been ranging within an extended consolidation phase, which may compel the token to maintain a sluggish trend for the rest of 2024. 

Will the ADA price ever reach $1?

Ever since the price dropped from $0.5, the bears have held a strong grip over the rally. They have been restricting the rally from revamping a powerful ascending trend that could have elevated the price beyond the bearish captivity. 

However, the decrease in the volume validates the traders being repulsive, which could be a matter of concern for the ADA price rally. Meanwhile, some indicators suggest a lower possibility of a rebound, which may be stabilised if the bulls manage to push the prices above the pivotal ranges. 

The long-term price action remains prone to an extended bearish action as the trade is stuck within a descending parallel channel. Meanwhile, the price is stuck around the average bands of the channel, suggesting the trend is within a decisive range. 

However, the token is trading along the average bands, indicating a significant decrease in the volatility of the token. Also, the depleting on-balance volume validates the bearish claim, pointing towards a drop in the trader’s interest, which could be a huge matter of concern. 

Besides, the RSI displays fewer chances of a rebound as it aims to rise above the ascending trend line. If the levels reclaim above the zone, there could be some possibility of rising above the average bands of the channel. Meanwhile, the bears have held the levels around $0368 as the token is failing to rise above the zone. 

The market dynamics appear to be waiting for the U.S. elections and the result is expected to increase the volatility among the markets. In such a scenario, the Cardano (ADA) price could rise above $0.4, which could break the descending parallel channel and initiate a fresh ascending trend ahead.