Dig Deeper, Invest Smarter
The Pi Network rich list provides a clear indication of the token’s demand in the market. Notably, Pi is among the most trending tokens in the market, even in its declining days. Due to a long wait on the launch and years-long community building, it is often in hype. It includes its post-launch rally, pushing
The post Pi Network Rich List June 2025: Who Holds the Most Pi Tokens? appeared first on CoinGape.
New York is mirroring the United States’ embrace of Bitcoin to unfurl its ambitions to become the crypto capital of the world. NYC Mayor Eric Adams is at the center of the Bitcoin push, taking swipes at critics while confirming the city’s first-ever Crypto Summit.
While the US is steamrolling toward a warm embrace of Bitcoin, New York City is keen on matching the pace of the Trump-led administration. NYC Mayor Eric Adams revealed in a press conference that the city has ambitious plans to be the cryptocurrency capital of the world.
Adams is urging service providers in the cryptocurrency space to turn their gaze to New York and set up shop in the Empire State. In his press statement, Adams expressed a long-term commitment to cryptocurrencies and their underlying technology while highlighting the benefits for residents. Adams is luring crypto firms with a pledge to create a friendly regulatory landscape in New York, hinting at passing a Bitcoin Reserve Bill akin to New Hampshire.
“We should be looking forward to building empires, particularly in the crypto space,” said Eric Adams. “My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe.”
Adam’s affinity for cryptocurrencies is not a bolt from the blue, with the NYC mayor famously advocating for Bitcoin back in 2021. With BTC price exceeding $105K and the US setting a Strategic Bitcoin Reserve, the NYC Mayor teased critics by asking, “Who is laughing now?”
In a similar fashion to the White House Digital Asset Summit, NYC Mayor Eric Adams says the city will host its inaugural Crypto Summit. Scheduled for next week, the conference will feature representatives of cryptocurrency firms, regulators, and city officials to chart a new path for the city.
The summit will feature keynote addresses revolving around the viability of a state-owned Strategic Bitcoin Reserve and a new licensing regime for crypto firms. Despite the ambitious plans, critics say the New York Department of Financial Services (NYDFS) may stifle the city’s cryptocurrency ambitions..
The NYDFS has earned a name as a strict regulator, famed for its watertight Bitlicense for potential cryptocurrency service providers. To make substantial progress with Bitcoin and cryptocurrencies, the NYDFS will be required to relax its tough rules, but Adams hails the regulators’ tough stance as a win-win for New York.
“It’s good to know that the city is going to have safe regulations in place for those who are investing, and there’s not going to be any abuses,” said Adams.
New York’s bid to revolutionize its digital asset landscape comes in the middle of a seismic rally that sees Bitcoin and other cryptocurrencies as altcoin season gathers steam.
The post “Who Is Laughing Now” – New York City Mayor Endorses Bitcoin Ahead Of Crypto Summit appeared first on CoinGape.
Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Monday’s edition is last week’s wrap-up and this week’s forecast, brought to you by Paul Kim. Grab a green tea and watch this space.
With the US employment situation deteriorating dramatically, the conflict between the Trump administration and the Fed over interest rate cuts is intensifying. The outlook for interest rates over the next three months is fluctuating daily with the inflation and employment indicators’ releases. The market is showing signs of extreme sensitivity.
Last week’s volatility in the cryptocurrency market began with the release of the ISM Services PMI on Tuesday. The index signaled a slowdown in the US services sector. Additionally, it reported that prices in the services sector have risen and employment has declined since April, when Trump’s “tariff war” began.
The situation where prices are rising while employment is declining is stagflation, one of the most difficult economic crises to deal with, because it prevents central banks from either lowering or raising interest rates. Concerns are growing in the market that the Trump administration’s tariff policy is pushing the US into stagflation.
At the same time, the probability of three interest rate cuts this year has been reduced to two. Last week, prices of most risk assets sensitive to market liquidity, including cryptocurrencies, fluctuated in line with the ever-changing interest rate outlook. When the probability of a rate cut was two times within the year, prices fell, and when it changed to three times, prices rose repeatedly.
The news that marked the end of the week was that Stephen Miran, chair of the White House Council of Economic Advisers, was appointed to fill the vacant position of Fed Governor Adriana Kugler. Miran is one of President Trump’s closest economic advisors. The market interpreted this appointment as a sign that President Trump strongly pushes to lower interest rates. The US stock market closed with the expectation of three interest rate cuts this year.
Over the weekend, Fed Vice Chair Michelle Bowman’s unexpected remarks fueled Ethereum’s surprise rise. In a speech to the Kansas Bankers Association, Bowman bluntly stated that “three rate cuts are necessary.” She emphasized that recent employment data show that proactive measures are needed to prevent further weakening of economic activity and employment conditions. Then, the price of Ethereum temporarily exceeded $4,300.
On the contrary, BlackRock made a move that was largely unexpected in the market. The major player in the US spot exchange-traded fund (ETF) industry withdrew significant funds from both its Bitcoin spot ETF (IBIT) and Ethereum spot ETF (ETHA) on Monday, injecting uncertainty into the market.
Net outflow of $292.21 million occurred in IBIT that day, marking the largest single-day outflow since May 30, over two months ago. Market analysts began speculating that Bitcoin prices could drop back down to the $111,000 level.
The Ethereum spot ETF, ETHA, saw a net outflow of $375 million. This represents a 3% decrease in BlackRock’s Ethereum holdings in a single day. The massive outflow from BlackRock’s ETF halted the 21-day consecutive net inflow record for Ethereum spot ETFs.
Fortunately, the net outflow of ETF funds stopped after two days. Among the two major cryptocurrencies, Ethereum showed a faster recovery. The strategic purchases of ETH by U.S.-listed companies acted as a catalyst for Ethereum’s price recovery. Bitmain also updated its record as the world’s largest Ethereum-holding listed company, holding over 830,000 ETH.
Tom Lee, a renowned Wall Street investment guru, emphasized that buying Ethereum will be the most important trade he makes in the next 10 years. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, explained that stocks of companies buying Ethereum could be a more attractive investment target than Ethereum spot ETFs.
It was a week when President Trump signed new executive orders to prevent debanking for lawful crypto businesses and to open the retirement fund market. Ethereum saw a 25.01% increase in its weekly price, while Bitcoin rose by only 5.44%, despite that it regained $119,000 over the weekend. Solana (SOL), which has a lower market capitalization than ETH, saw a 15.04% increase. It was a week in which Ethereum showed its clear presence.
This week is expected to follow a similar pattern to last week. The market’s attention is focused on whether the Fed will implement three interest rate cuts this year and whether a definite interest rate cut will be announced at the September Federal Open Market Committee (FOMC) meeting.
| Date | Day | Event |
|---|---|---|
| Aug 13 | Tuesday | US July Consumer Price Index (CPI) release |
| Aug 14 | Wednesday | Chicago Fed President Austan Goolsbee speaks at Springfield Chamber monetary policy luncheon |
| Aug 15 | Thursday | US Producer Price Index (PPI) release |
| Aug 16 | Friday | US July Industrial Production data release |
| Aug 16 | Friday | US July Retail Sales data release |
In this context, the July US Consumer Price Index (CPI) data to be released on Tuesday is crucial. If the actual CPI figure significantly exceeds market expectations, the outlook for interest rate cuts in the second half of the year will likely become uncertain again. If that happens, cryptocurrency prices will face adjustment again.
The Producer Price Index (PPI) on Thursday night and the US July industrial production and retail sales figures on Friday are also worth watching. This is because they will provide evidence of whether the US economy is contracting.
Comments from Fed officials, who have a significant influence on the September FOMC interest rate decision, are also important. On Wednesday, Chicago Federal Reserve Bank President Austan Goolsbee will attend a monetary policy luncheon hosted by the Springfield Chamber of Commerce. Any comments on the current economic outlook or future interest rate directions could impact the market.
According to FedWatch data, as of the time of publication on Monday morning, the probability of a 0.25% interest rate cut at the September FOMC meeting stands at 88.4%. This probability might rise slightly once the benchmark interest rate futures market reopens after Vice Chair Bowman’s remarks over the weekend. However, it is difficult to confirm whether the probability of a rate cut will remain at this level by the end of the week.
I wish all our readers successful investments this week as well.
The post Ethereum Surges Past $4,300 as Markets Await Pivotal CPI Data appeared first on BeInCrypto.
Ethereum is trading at $3,589.71 down 1.15% in the last 24 hours, as consolidation close to a major technical level continues. Even though price action still remains uncertain, an analyst has provided an outline of a potential move to $ 4,000 and he cites a confirmation of the breakout pattern. At the same time, the
The post Analyst Predicts $4K Ethereum Rally as SEC Clarifies Liquid Staking Rules appeared first on CoinGape.