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๐ Here's a market snapshot for today, 01.11:
๐ช BTC: $110,377
๐ ETH: $3877.70
๐ช SOL: $186.54
๐ TON: $2.3402
Market cap: $3.70T ๐
๐ฑ Fear and greed index is at 33, fear.
This development highlights a shift where stablecoins are increasingly viewed as critical infrastructure for capital and global payments, rather than just speculative assets. By covering the spread internally, Revolut is betting that reducing friction will drive adoption.๐ก
๐ท This initiative eliminates fees and spreads, allowing users to move between fiat and crypto at a true 1:1 ratio. By internalizing the cost, the platform aims to reduce the friction and anxiety often associated with on and off-ramping.
๐ก This move underscores the ongoing interplay between central bank policy and digital asset markets. While near-term volatility may persist, some analysts point to structural factors like institutional demand through ETFs as key long-term supports.
๐ The U.S. Federal Reserve announced a widely anticipated 0.25% interest rate cut yesterday, bringing the federal funds rate to a target range of 3.75% to 4%. This decision was largely priced in by markets, with the CME FedWatch Tool having shown a near-certain probability.
However, cryptocurrency markets experienced a downturn following the announcement. The shift in sentiment occurred after Fed Chair Jerome Powell noted that a further rate cut in December was "not a foregone conclusion," tempering market expectations. ๐ท
๐ฌ As Joseph Chalom, Co-CEO of SharpLink, stated, โThis deployment enables us to access the best of Ethereumโs staking, restaking and DeFi yield, while maintaining the institutional safeguards our stockholders expect.โ
๐ฐ SharpLink Gaming has announced a strategic initiative to deploy $200 million of its Ethereum treasury onto the Linea layer-2 network, in collaboration with Consensys.
This multi-year, risk-managed deployment is designed to generate enhanced yields through a multi-faceted approach. All operations will maintain institutional-grade security through their custodian, Anchorage Digital Bank.