Tag: Crypto
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Kenya Moves to Regulate Cryptocurrencies with Draft Proposal
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Kenya has unveiled a draft proposal aimed at regulating cryptocurrencies, signalling a shift from the Central Bank of Kenya’s (CBK) historically cautious stance. The proposal, titled National Policy on Virtual Assets and Virtual Asset Service Providers, is open for public feedback until 24 January 2025. A Framework for Fair and Stable Markets Treasury Cabinet Secretary…
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Bitcoin Faces Key Test as US Employment Data Sparks Volatility
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Sharp Bounce Needed to Avoid Downtrend as Market Reacts to Economic Data Bitcoin (BTC) found itself under pressure on January 11, hovering just below $95,000 after a day of significant market volatility. The cryptocurrency’s performance mirrored the broader decline in US stocks, which saw a similar “bearish overreaction” to new employment data, raising concerns about…
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Crypto Markets Slip as Strong US Jobs Data Sparks Rate Hike Fears
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The United States economy added 256,000 jobs in December, far exceeding economists’ forecast of 160,000, according to the Bureau of Labor Statistics. This uptick marks a significant rise from November’s revised 212,000 figure. The unemployment rate also unexpectedly dipped to 4.1%, below the anticipated 4.2%, signaling a robust labor market. These strong figures challenge the…
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Could This Token Overtake Ripple as the Top Crypto Performer by 2025?
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As the cryptocurrency market continues to mature, investors are eyeing projects with innovative use cases and substantial growth potential. Ripple (XRP) has long been a prominent player in the space, thanks to its focus on cross-border payments and partnerships with financial institutions. However, Lightchain AI (LCAI), a next-generation blockchain platform, is emerging as a serious contender…
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Amazing Cryptocurrency Survey Results! Trump Is Coming with a Big Wave!
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Donald Trump, who came to the fore with his support for Bitcoin (BTC) and cryptocurrencies and won the presidential race, increased the interest in crypto in the USA. Accordingly, investors said they were more open to investing in cryptocurrencies after Trump won the US elections in November. According to the results of a survey conducted…
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Bitcoin to Hit $1.5 Million by 2035, Says Renowned Analyst
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Bitcoin (BTC) could reach a staggering $1.5 million per coin within the next decade, according to network economist Timothy Peterson, a well-known advocate of the cryptocurrency. Peterson, the author of the influential paper “Metcalfe’s Law as a Model for Bitcoin’s Value,” reiterated his bullish long-term outlook in a post on social media platform X (formerly…
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Crypto Scams and Hacks Surge to Over $3 Billion in 2024
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The cryptocurrency industry suffered significant setbacks in 2024 as losses from hacks and scams surged to $3.01 billion, marking a 15% increase from the $2.61 billion recorded in 2023, according to data from blockchain forensic firm PeckShield. Decentralized finance (DeFi) protocols remained the primary targets, while security vulnerabilities in both DeFi and centralized platforms were…
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XRP Price Drops 5% Amid Bearish Indicators and Market Sell-Off
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XRP has seen a sharp decline of 4.8% over the past 24 hours, trading at $2.31. This drop mirrors a broader downturn in the cryptocurrency market, where the total market capitalisation has fallen by 6.5% to $3.35 trillion. Several on-chain metrics and technical indicators point to a bearish outlook for the altcoin. Massive Long Liquidations…
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Dogecoin Price Drops 6%, $35 Million Liquidated Amid Market Volatility
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Dogecoin (DOGE), the largest meme coin in the cryptocurrency market, has faced a significant downturn, falling by 6% on January 8, 2025. This decline marks its lowest point in almost a week, with the price dropping to $0.3415. As sentiment worsens across the crypto space, the question remains: will Dogecoin bounce back? Price Decline and…
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Bitcoin and Ether Dip Amid Inflation Fears and Market Volatility
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Bitcoin and Ether prices experienced a sharp decline on Wednesday, reversing gains made earlier this week. Bitcoin dropped 5% to $96,527 after briefly surpassing the $100,000 mark, while Ether tumbled 8.5% to $3,353. Other major cryptocurrencies, including Dogecoin and Avalanche, also faced double-digit losses. The Block’s GMCI 30 index, which tracks the top 30 cryptocurrencies,…