If Bitcoin has been riding a wave of optimism linked to Donald Trump's potential political comeback, now that Tycoon has been elected as the 47th president of the United States, we can say Bitcoin has literally hit a record of $75,000. This suggests a significant surge in market sentiment, likely fueled by speculation that a Trump victory could lead to more favorable conditions for cryptocurrencies.
Call it or not a Trump effect, after having recorded its all-time high, breaking through the wall of 75 thousand dollars, Bitcoin is gaining almost 8% in these hours. Ether is also making the same gains, trading around $2,619. "A rally that is not surprising given the position clearly in favor of Trump, who, in addition to having launched a new cryptocurrency platform "The DeFiant Ones" (a name that plays on the concept of decentralized finance) last August, owns, according to The Verge, 1 and $5 million in a virtual ethereum key" says Massimiliano Carrà on Forbes Italy.
Trump has historically been perceived more crypto-friendly, especially when compared to other political figures who have proposed stricter regulations on the industry. In his latest administration he generally took a hands-off approach to cryptocurrencies, which many in the crypto community appreciated as it allowed the space to develop with relatively fewer governmental restrictions.
During his first presidential campaign, the cryptocurrency ecosystem saw significant growth, likely due to the promise of deregulation and more market freedom. So the question is how far the crypto market will go, today on? If traders are anticipating these factors aligning favorably with Trump's policies, it could further boost their enthusiasm for Bitcoin as a store of value or hedge.
Highlighting some points about the relationship between Trump's re-election and cryptocurrencies environment here's a list of the factors involved in this potential diverse outcome of the market, that will maybe lead to a new balance between old and new economy, as we usually say here at The Meta Economist.
Let's unpack a few key themes and examine how they could impact Bitcoin and the broader cryptocurrency market:
In summary, while a Trump administration might boost Bitcoin and create short-term optimism, the crypto market’s long-term prospects will likely depend on broader regulatory trends, global economic factors, and how effectively crypto assets continue to establish themselves as hedges or alternatives to traditional investments. Would you like to delve further into any specific aspect, like historical price patterns in crypto during different administrations, or explore how institutional players might react?
SOURCE: The Guardian, Forbes
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Bitcoin loses 5% in a few minutes during the Asian Session. The other top cryptocurrencies by market capitalization do even worse. Ethereum just over 7%, BNB less than 6% and Solana the same. Certainly not a situation of great collapse and great panic, although the decline was vertical. Bitcoin fell below $66,500, which very far from the disaster that many are talking about on social media. "Bitcoin (BTC) faced selling pressure during Asian trading hours on Tuesday as upbeat U.S. factory data lifted the dollar index (DXY) to the highest since mid-November" - Coin desk says.
The dollar is stronger, so-so Asian markets and that's probably why Bitcoin pays the bill. But, all things considered, Bitcoin is not performing badly even for risk assets and we have to see this movements as a temporary correction that does not change the fundamentals. The Asian markets, which may be responsible for this moment of difficulty for Bitcoin, are actually ending the day on a positive note. Hong Kong makes +2.35%. The dollar index, which tracks the greenback’s value against major fiat currencies, topped the 105 mark for the first time over four months, taking the four-week gain to 2.58%.
Macro data has provided further support for rate cuts in the USA which will perhaps be postponed even beyond June. Markets now price the chance that the Federal Reserve will cut rates in June at just over 50%. Something that only 1 week ago was priced at over 60%, just to have a perspective of what is happening also in terms of sentiment. Although cryptocurrency enthusiasts are often excessively reactive to movements, it should be remembered that Bitcoin is a mere -10% from historical highs, just as the daily losses of the entire sector should be assessed with a bit of a sense of proportion.
SOURCE: CoinDesk
PHOTO CREDITS: Art Rachen
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
FRANCE - The company Societe Generale has issued its first digital green bond, leading an important step toward a blockchain system working side by side with the classical finance. The bond is a Security Token directly registered by SG-FORGE on the public Ethereum blockchain. Société Générale is the fourth bank for capitalization of banking groups in the Eurozone. It is the fourth biggest French bank by total assets after BNP Paribas, Crédit Agricole and BPCE.
This operation is ensuring greater transparency and traceability of ESG data. AXA Investment Managers and Generali Investments, fully subscribed these security tokens. This transaction represents the first digital green bond issued by Societe Generale to exploit the differentiating features of the blockchain, which allows for greater transparency and traceability, as well as greater fluidity and speed in transactions and settlement.
This inaugural transaction is structured as a 10 million euros senior unsecured bond with a 3-year maturity. An amount equivalent to the net proceeds of this bond will be used exclusively to finance or refinance Elispective Green Activity, as defined in the Green, Social and Sustainability Bond Framework of Societe Generale which, since its first inaugural issue in 2015, has been an issuer common occurrence of instruments of this type. This issuance also marks a first step towards the use of blockchain for data storage and as a certification tool for issuers and investors to promote greater ESG data transparency and positive impact on a global scale.
The Société Généra's operation brings two fundamental innovations for the green bonds. The first thing is related to the informations on carbon emissions related to the digital green bond infrastructure, those infos will be available 24 hours a day in open access directly in the bond's smart contract. So that issuers and investors can measure the carbon emissions of their issues on the financial platform. In particular this tool was introduced by a new SG-FORGE service that follows the publication of its first comprehensive report on carbon emissions on Security Tokens. The other new option is to settle the delivery of securities on-chain (the data that are part of a blockchain) through the Euro CoinVertible, the digital asset issued by SG-FORGE in April 2023. While Central Bank Digital Currencies (CBDC) solutions are in the testing phase, this range of settlement methods demonstrates SG-FORGE's broad capabilities in providing a full range of on-chain services.
SOURCES: La Stampa, Finance Community
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
NEW YORK - Forbes places on Ethereum its "Under 30" list. 30 names of 30 brilliant young people, in different categories, that could make the future of business. The decision is valid for the North America's list. So the data and profiles of the people included on the list, will be permanently recorded on blockchain. This decision indirectly promotes Web 3 and the new technologies linked to Web 3 and also underlines an important fact. Many blockchain and crypto innovators were part of the list in previous years.
The announcement was made by Forbes itself and will be active on Ethereum blockchain. This is to permanently archive published data, including profiles of individual people, but also to promote the potential of blockchain technology and Web3. The list has been published for 30 years now, and represents a now prestigious recognition for individuals in every type of sector, from media, through sports, technology, finance and education, up to art and music. “Forbes is at the forefront of combining traditional media with cutting-edge technology,” said Vadim Supitskiy, chief digital and information officer at Forbes. “By launching our 'Under 30' on the Ethereum blockchain, in addition to recognizing emerging young leaders, we are also demonstrating the vast untapped potential of blockchain technology in the field of data storage and security.”
As we can read in the official article by Forbes, on November the 28th, was announced the 13thannual Under 30 List for the Class of 2024, recognizing 600 leaders from North America, within 20 different industries, many of whom are creating meaningful change through their entrepreneurship.
“This is one of the most diverse and ambitious Under 30 classes to-date, and particularly in terms of the scope of their work and impact of their leadership,” said Kristin Stoller, Senior Editor, Forbes Under 30. “The large majority are founders or cofounders of a company, but creators and performers are also making their mark as they build their brands beyond traditional artistic scopes.”
Collectively, the Class of 2024 has raised $3.6 billion in fundraising and the celebrities, musicians and creators on the list captured a combined 780M+ social media following. Gen Z gained a stronger presence on this year’s list, making up 33% of the list, up from 22% in 2023.”
SOURCEs: Forbes, The CryptoGateWay
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
PayPal, the global payments giant, has announced that it will enter the crypto market. It will do so through its own stablecoin, PayPal USD based on Ethereum.
The PayPal USD will be pegged to the U.S. dollar and issued by Paxos Trust.
The token will soon be available in the U.S., and PayPal will lead the way as the first major financial company to issue its own stablecoin.
Users will be able to transfer and convert any PayPal-supported cryptocurrency to and from PayPal USD.
SOURCE: CoinDesk
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
PayPal said it has $1 billion worth of crypto assets on its balance sheet. For this reason, the giant has decided to focus more and more on cryptocurrencies. Specifically, it holds assets in Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
PayPal has declared that it maintains, within its internal registers, the share of crypto assets owned by its customers and, outside of these, there are no other shares of crypto owned by the company.
The society has introduced numerous services in favor of the use of cryptocurrencies: external wallets in which to transfer money, exchange cryptocurrencies on other apps, the possibility of buying Ethereum via PayPal - thanks to ConsenSys.
SOURCE: TheCryptoGateway
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Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
Circle - US dollar coin’s creator- will roll out a new protocol that will make it easier for users to transfer USDC between Ethereum and Avalanche.
Prior to this major update, Avalanche users had to approach a Circle partner to introduce USDC to Ethereum. Worst case scenario, they even had to use a third-party bridge to transfer their money.
The new Cross-Chain-Transfer protocol seems to eliminate these futile operations altogether.
SOURCE:CoinTelegraph
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Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
zkEVM, 27 March 2023. Ethereum layer-2 solution provider Polygon’s update will be launch very soon.
On Polygon’s Twitter, the society wrote that despite the difficult experimentation, update is ready to will use. In fact, last year, was launched as a testnet.
zkEVM technology has been tested for over three years. The company, to work on this project, had to integrate more of 5.000 smart contracts, more of 75.000 zk-proof, more of 84.000 wallets and two public third-party audits.
The upgrade cares a lot about user safety and for this reason Polygon zkEVM it has been subjected to several tests and years of work.
STAY TUNED!
SOURCE: CoinTelegraph
Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
Bitcoin, Ethereum and FileCoin was stopped on Australia’s market due to “non-compliant” Target Market Determinations.
The Holon Bitcoin Fund, Holon Ethereum Fund and the Holon FileCoin Fund are all managed investment schemes that focus on exposure of the price to the equivalent crypto. They work by investors sharing money who in return receive a support in that scheme.
A Target Market Determination describes product’s target and market, conditions around the product can be distributed to users, the events or circumstances where developers may need to review the Target Market Determination for a financial product.
The Australian Securities and Investments Commission (ASIC) observed that investors in cryptocurrency are subject to a big negative returns.
Additionally, the PDS - Product Disclosure Statement - highlights the fact that they may will have a total loss of value.
SOURCE: CoinTelegraph
Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
