In todays evolving world of technology, old blockchains are ill-equipped to deal with quantum threats, including cryptos with large market capitalizations. And how could it be? At the time when Bitcoin was created, devs were so enthralled with the robustness created by a near fail-safe network of systems that an emerging quantum threat didn’t come
GCash, the Philippines’ leading digital money app, announced support for Circle’s USD Coin (USDC). Users in the country can now hold and transact with the stablecoin.
This marks a major step in integrating stablecoins with everyday transactions in the country.
Circle’s USDC Ventures Into the Philippines Market
Local media revealed the integration, noting that GCash users in the Philippines can buy, hold, and send USDC through GCrypto, the app’s cryptocurrency platform. GCash’s Group Head of Wealth Management, Arjun Varma, says this integration presents a game-changer for financial inclusion in the Philippines.
“By offering easy access to digital dollars, we empower our users with a stable and globally recognized financial asset,” local media reported, citing Varma.
Unlike volatile cryptos like Bitcoin (BTC) and Ethereum (ETH), USDC is a stablecoin pegged to the US dollar. This makes it a more reliable digital asset for payments and savings.
The move is expected to help millions of Filipinos bypass traditional banking infrastructure, which is reportedly slow, expensive, and inaccessible to many.
“Philippines payments are absolutely horrible. Some of the worst rails and ramps in the world,” one user remarked.
With USDC reserves held at regulated financial institutions, they undergo regular third-party attestations to ensure transparency. Circle CEO Jeremy Allaire highlighted the scale of this expansion, citing an opportunity for growth in the firm’s stablecoin network.
“The largest and most widely used digital money app in the Philippines, GCash, just announced support for USDC in their mobile wallet. Another ~100m users being brought into Circle’s stablecoin network,” he expressed.
This poses competition for stablecoin issuers like Tether and Circle as established banks look to enter the space with their stablecoin offerings. As financial giants move in, fintech companies like GCash offer themselves as potential avenues for expansion to stablecoin issuers.
“GCash’s USDC move puts a global digital dollar in 100 million Filipino hands. Stablecoins might just leapfrog banks in places like this,” another user added.
“Crypto payments failed for one small reason that needs fixing: When sending USDC, let the recipient see the transaction but not your address. Nobody wants to reveal their wallet for a 10 USDC beer payment,” DeFi researcher Ignas said recently.
While GCash’s USDC integration offers convenience, calls for stablecoin transparency, like revealing wallet addresses for USDC transactions, may deter adoption even for Philippine users.
Still, GCash’s move reflects a broader trend of digital wallets embracing blockchain-based finance.
The Cardano price today is trading at $0.8118 after a recent correction of over 12% from the $0.92 level. Despite this recent drop, its long-term technical setups remain unaffected.
In fact, the fall has cooled off its exhaustion from the short-term rally. It suggests that another major bullish structure may be forming, besides the falling wedge.
If this breaks out, then a much larger rally could be on the horizon in the coming weeks. Even experts continue to mention their thoughts on the ongoing falling wedge’s rally, and they are optimistic that soon $1 mark will be flipped.
Cardano Price Today Faces Short-Term Pressure but Holds Long-Term Structure
The Cardano price today showed that it is sustaining after this week’s sell-off, which mirrored broader crypto market weakness, where several major altcoins lost momentum amid fading sentiment.
As a result, the ADA price slipped more than 12% from $0.92 to $0.81, retreating from its previous support near the June highs.
Yet, it has managed to stabilize on the 20-day Exponential Moving Average (EMA), which now acts as its short-term dynamic support.
Adding to this, the 24-hour trading volume has dropped 26% to $1.79 billion. This is signaling reduced participation from both buyers and sellers. While falling volume usually confirms a lack of conviction, but it can also precede a sharp move once direction is confirmed.
Long-Term Patterns Hint at a Potential Reversal
What’s encouraging from a technical standpoint is that despite the recent dip, the Cardano price today is maintaining a broader bullish structure on the daily chart.
A falling wedge formation built after months of bleeding price action from $1.32 high has displayed an breakout in July, which is still intact and ongoing.
Even an analyst, Javon Marks, highlights that this pattern mirrors setups from previous bullish cycles. Where each of those historical patterns was followed by a rally, making this current structure worth watching.
Importantly, the recent sell-off appears to be a sign of a pullback for a much larger momentum ahead. That said, the price decline this week has not invalidated the pattern; instead, it has strengthened it, and the overall structure remains intact.
Symmetrical Triangle Converging with Breakout Path
Apart from the falling wedge, the daily chart showcases another pattern, where the Cardano price today seems to be at the center of the pattern.
This pattern is the multi-month symmetrical triangle. This triangle showed a breakdown in June, but the price re-entered the range, invalidating last month’s breakdown.
Most recently, the sell-off in ADA was also seen from this pattern’s upper boundary, showing its importance in the Cardano price chart.
Even though the symmetrical triangle hasn’t confirmed a breakout yet, it complements the falling wedge pattern, which is already in play.
The convergence of both formations, combined with strong historical context, increases the odds of an upward move.
If ADA breaks out of this triangle in the coming weeks, the $1 mark could be the first significant level to test, potentially setting the stage for a broader uptrend.
Additionally, July has already been marked by structural resilience, and the upcoming August could bring additional positive triggers for ADA price action.
The post Cardano Price Today Holds Steady at $0.81: Is a $1 Breakout Next? appeared first on Coinpedia Fintech News
The Cardano price today is trading at $0.8118 after a recent correction of over 12% from the $0.92 level. Despite this recent drop, its long-term technical setups remain unaffected. In fact, the fall has cooled off its exhaustion from the short-term rally. It suggests that another major bullish structure may be forming, besides the falling …
The cryptocurrency market is back in action today, with a sharp rally across major coins like Bitcoin, Ethereum, and Solana. At the time of writing, the total crypto market capitalization has jumped to $3.43 trillion, showing a healthy 4.22% rise in the past 24 hours. Investor sentiment has also turned positive. The Fear & Greed Index now reads 64, firmly in ‘Greed’ territory — a clear sign that traders are feeling confident about the market’s direction.
So, what’s fueling this rally? Let’s break it down.
Bitcoin Leads the Charge
The star of the show is Bitcoin, which finally broke out of a consolidation range it had been stuck in since May 23rd. Currently trading above $109,500, Bitcoin’s breakout is being closely watched by analysts. This move was expected because of a bullish weekly candle formation called a three-inside-up pattern around the $100,000 mark. Historically, this kind of setup often leads to an 8-10% pump within a week or two.
Apart from technical signals, positive news on the macro front is also helping the rally. Reports show that trade talks between the United States and China have resumed, easing global market tensions. This, combined with growing institutional interest, has boosted investor confidence.
Altcoins Follow Suit
Following Bitcoin’s lead, altcoins are also climbing. Ethereum is up over 8% this week, now trading at $2,699, while Solana and Dogecoin have surged 5% and 6.6% respectively. Interestingly, Sui (SUI) and Hyperliquid (HYPE) have posted impressive double-digit gains.
The Altcoin Season Index, however, remains at 30 out of 100, meaning that while altcoins are rallying, a full-fledged alt season hasn’t arrived yet.
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The post Why is The Crypto Market Going Up Today? appeared first on Coinpedia Fintech News
The cryptocurrency market is back in action today, with a sharp rally across major coins like Bitcoin, Ethereum, and Solana. At the time of writing, the total crypto market capitalization has jumped to $3.43 trillion, showing a healthy 4.22% rise in the past 24 hours. Investor sentiment has also turned positive. The Fear & Greed …