Here’s the top trending stories in crypto in the past 48 hours…
- Crypto remained quiet as BTC consolidated near $64K ahead of key U.S. inflation data. Kamala Harris reinforced the need for the U.S. to dominate AI and blockchain.
Bitcoin [BTC] has been consolidating between $62K — $64K for the past few days with no macro catalyst to juice the markets.
The quiet price action was also seen across Ethereum [ETH] and Solana [SOL] as they stabilized near $2600 and $150, respectively.
However, the U.S. GDP reading, chair Jerome Powell’s comments, and the U.S. inflation data, set to be released this week, could trigger some volatility.
Source: Coin360
Kamala Harris calls for US dominance in ‘AI and blockchain’
Vice President Kamala Harris has made a statement on blockchain and overall digital assets for the first time.
During her address at the Economic Club of Pittsburgh, Harris reinforced the need for the U.S. to ‘remain dominant’ in emerging technologies that will define the next century. She said,
“We will … remain dominant in AI, quantum computing, blockchain, and other emerging technologies.”
The crypto community welcomed her reaffirming support for digital assets, but some called for more action.
Kristin Smith, CEO of Blockchain Association, a collective voice for the industry, called for replacing SEC chair Gary Gensler and ending Operation Choke Point 2.0 (banking access restriction to crypto firms) regardless of who wins the U.S. elections.
This could be a win-win scenario for the industry, especially given that Harris and Trump’s odds of winning U.S. elections remain close to a coin toss. Per prediction site Polymarket, Harris led Trump by only 1 point.
Source: Polymarket
PayPal enables crypto support for U.S. merchants
U.S. businesses can now buy, hold, or sell cryptocurrencies through their PayPal business account. This will mark another milestone for crypto adoption and utility.
Reacting to the update, Jose Fernandez da Ponte, vice president of blockchain at PayPal, said merchants demanded the service.
“Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”
PayPal will join the growing list of providers offering crypto pay for businesses in the U.S., such as Coinbase Commerce and BitPay.
What’s next for HMSTR after the airdrop and listing?
The Telegram-based Tap-to-Earn game, Hamster Combat, began its airdrop of 131 million HMSTR tokens to over 300 million users.
According to Ton blockchain, the network that supports the token, this was the largest airdrop in crypto and a huge stress test for the platform.
However, there were notable community concerns about low payouts during the campaign.
Given the listing across major exchanges and users’ concerns, Bitget Research analyst Ryan Lee told AMBCrypto that the HMSTR token could experience wild volatility.
“In the short term, HMSTR’s price is likely to experience significant volatility… due to speculative buying and market hype…, but after speculators take profits, there could be a pullback.”
He added,
“In the medium to long term, the price will depend on the project’s actual progress and users’ trust.”
In the meantime, the game has unveiled its 2025 roadmap, including integration with desktop games and new game titles. Whether it will rally around users after the airdrop campaign concerns remains to be seen.
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