Dig Deeper, Invest Smarter
As the Pi Network team releases security instructions for the Pi Wallet, Pi coin users have shared their frustration, stating their wallets show no Pi tokens despite following all migration instructions issued by the core team. The users have been complaining about this issue for a while, and have asked the team members to take
The post Pi Coin Users Slam Pi Network Team on Failed Wallet Migration appeared first on CoinGape.
President Trump is again urging lower interest rates after bullish US employment data. Some analysts are hopeful that new rate cuts will generate positive momentum for Bitcoin.
However, there are no signs that Powell will change his mind. If anything, it’s even less likely. Tariffs could cause unprecedented chaos, and the economy doesn’t need rate cuts to survive right now.
Earlier today, the US Bureau of Labor Statistics released its latest jobs report, which seems quite bullish in the face of recession fears.
Total nonfarm payroll employment increased by 177,000, far outperforming expectations, while unemployment remained steady and wages went up. This prompted President Trump to ask once again for cuts to the interest rate:
President Trump has repeatedly asked Federal Reserve Chair Jerome Powell to cut interest rates. The crypto industry has also heavily advocated for such a move, which would encourage investment in risk-on assets.
However, both Powell and other Fed higher-ups have been very clear that tariffs are too unpredictable to allow further rate cuts.
Powell’s position has been very consistent. Tariffs could severely damage the economy, and the Federal Reserve needs to keep its powder dry to stave off future collapse. If it cut rates after bullish news, the Fed would have one less potential tool in the event of a real crisis.
Trump even threatened to fire Powell over the rate cut issue, but relented after the markets panicked. He cannot legally fire Powell; ousting such a prominent regulator would undoubtedly cause chaos.
After the jobs report came out, the market anticipated fewer rate cuts, and the CME reported that an adjustment in May is virtually impossible.
To put it bluntly, there is a very low chance that Trump will get his desired rate cuts soon. Justin Wolfers, an economist at the University of Michigan, explained why the bullish report actually makes rate cuts less likely:
“I’m almost certain that the Fed remains on hold at its next meeting. The real economy (so far) is strong enough to not warrant a rate cut. And the big questions are all just over the horizon. Powell has been clear: He doesn’t want to guess what’s over that horizon, he wants to wait & see. The report is absolutely legit. White House interpretations are a different issue,” he said.
President Trump wants these rate cuts, but can’t force the issue without causing bigger problems. Because the tariffs are so chaotic and unpredictable, false rumors have moved the crypto market on several recent occasions.
Traders should remain cautious around speculation that seems too good to be true.
The post Trump Urges Rate Cuts Amid Positive Labor Market Signs – Bullish for Crypto? appeared first on BeInCrypto.
Shiba Inu (SHIB) price has been struggling near key support after recent market corrections. The token has been trading below a critical level, reflecting ongoing volatility. SHIB dropped from its December peak of $0.0000329 and remains in a downward trend. Analysts predict a possible rebound, but market conditions suggest uncertainty about its next direction.
Shiba Inu price dropped sharply as the broader meme coin market faced losses. After a strong start to March, assets like Dogecoin and SHIB saw a downturn. This decline pushed Shiba Inu lower in market rankings, reflecting the overall weakness in the crypto sector.
Meme coins, including Dogecoin, WIF, PENGU, BONK, and PEPE, have recorded notable price decreases. The trend follows the broader market correction affecting digital assets. Shiba Inu’s price movement has been in line with this sentiment, signaling uncertainty among traders.
Despite the slump, three potential catalysts could boost SHIB’s price. The most significant factor is its rising burn rate. On March 8, the daily burn rate surged by 3,250% to 29 million tokens. Since its inception, over 410 trillion SHIB tokens have been removed from circulation, reducing supply to 584 trillion.
Crypto analyst reports indicate that the SHIB price may have broken out of a Falling Wedge pattern. The breakout suggests a potential price surge, with projections hinting at a significant increase. Analysts highlight that if momentum sustains, the asset could experience a rise exceeding 422%, targeting $0.00008841.
Market sentiment around Shiba Inu remains strong, with traders monitoring technical signals. The meme-based asset has drawn attention amid discussions about its bullish trajectory.
As of 9th March, the SHIB price is trading at $0.00001254, reflecting a 0.40% decline over the past 24- hours.
The price remains within a narrow range as bearish sentiment persists. Key support is holding near $0.00001, while resistance sits around $0.000015. SHIB has struggled to break past these levels, signaling weakened momentum.
The MACD indicator shows a negative trend, with the MACD line hovering below the signal line. The histogram reveals growing red bars, indicating selling pressure. If the MACD line fails to cross above the signal line, downward movement may continue.
The RSI stands at 33, moving closer to the oversold zone. This suggests weak buying momentum.
Shiba Inu price prediction remains confined to a tight price channel, failing to establish a strong upward trend. The recent drop signals continued weakness, with buyers hesitant to step in. A breakout above $0.000015 may shift momentum toward bullish territory, while a fall below $0.00001 could extend losses. A sustained move above $0.000015 could open doors for bullish to target $0.000018 and $0.00002 resistance levels.
To sum up, the Shiba Inu price remains under pressure, struggling to hold key support. Analysts observe mixed signals, with traders closely watching technical indicators. The market’s next move will determine if SHIB rebounds or continues its decline.
The post Shiba Inu Price Battles Key Support: Will SHIB Rebound or Decline Further? appeared first on CoinGape.
Ripple is increasing the size of its investments in cryptocurrency custody, but legal expert John Deaton says the stablecoin issuer is playing the long game. John Deaton says the change in direction will see Ripple offer tokenization-as-a-service to global financial institutions, potentially improving the XRP price.
According to an X post by crypto lawyer John Deaton, Ripple Labs is pitching its addition of custodial offerings to its range of payment services. Deaton says that a bird’s eye view of Ripple’s plays will reveal the bigger picture for the stablecoin issuer.
For Deaton, Ripple’s Hidden Road broker deal is the clearest signal for the company’s foray into custodial services. Ripple has previously acquired Metaco and Standard Custody in 2023 and 2024, splurging billions on the acquisitions.
John Deaton notes that the primary reason for the pivot to custodial service is a play to position Ripple as an all-in-one hub for financial institutions embracing distributed ledger technology.
“By offering custody alongside payments and stablecoin solutions, Ripple becomes a one-stop shop for financial institutions integrating blockchain technology,” said Deaton.
Deaton notes that the aggressive push toward custody services is an attempt to “make up for lost time” following its long-running SEC case. The crypto lawyer surmises that Ripple is keen on snatching a chunk of the market share amid projections of the custody market capitalization tipped to reach 16 trillion in market share by 2030.
According to John Deaton, Ripple is positioning itself to advance toward providing tokenization-as-a-service to banks. Ripple will achieve this by leveraging its growing custody infrastructure to provide a seamless window for financial institutions to tokenize traditional assets.
John Deaton says the future offerings will allow financial sector players to tokenize stocks and real estate from a single platform. The end game will see the XRP Ledger evolve to be the hub for tokenized assets, with the RLUSD stablecoin playing a significant role.
The tokenization use case will improve the stablecoin adoption, with a CoinGape article predicting XRP’s price if RLUSD captures 80% of USDT’s market share. Deaton says Ripple is increasing its activity levels to put significant distance between itself and its closest competitor.
“Looks to me that Brad Garlinghouse is making up for lost time after being slowed down by the SEC lawsuit,” said Deaton.
Ripple is facing increasing competition from Circle’s Payment Network launch, designed to offer real-time payments. At the moment, XRP price is trading at $2.30, gaining nearly 7% over the last day.
The post John Deaton Explains Why Ripple Is Expanding Its Custody Infrastructure appeared first on CoinGape.