Ripple is growing its presence in the Middle East. The company recently partnered up with two new partners in the UAE, Zand Bank and Mamo. This is just months after getting its license from the Dubai Financial Services Authority (DFSA) in March. These partnerships will help Ripple push to play a bigger role in the region’s cross-border payments space. Ripple Expands in UAE With New Local Partnerships Now that it holds a DFSA license, the company is focusing on this growth through Ripple Payments. This platform is designed to deliver quick, low-cost international transfers using blockchain. Zand Bank, which is a digital-first financial institution, will use Ripple’s technology to upgrade its payments system. The bank also plans to launch a stablecoin tied to the UAE dirham (AED) to embrace blockchain more deeply. UAE fintech startup Mamo is also tapping Ripple’s system to make cross-border payments faster and more dependable. “We… Read More at Coingape.com
After U.S. President Donald Trump signed an executive order to create a strategic cryptocurrency reserve, the government is now exploring ways to buy Bitcoin without using taxpayer money. This move marks a big shift in its approach to digital assets and could push Bitcoin’s price to $100K soon.
US Government Eyes To Add More Bitcoin
Bo Hines, executive director of the Presidential Council of Advisers for Digital Assets, confirmed that the US government is working on a plan to build a Strategic Bitcoin Reserve. This follows President Trump’s campaign promises and highlights Bitcoin’s growing role in the economy.
The exact size of the reserve is unknown, but officials aim to collect as much Bitcoin as possible without using taxpayer money. To achieve this, the government is working with the Treasury Department and the Secretary of Commerce.
Unlike traditional assets like stocks or bonds, Bitcoin is seen as a unique financial tool. The administration views it as digital gold that could strengthen the nation’s economy.
No Taxpayer Money Involved
A key point of this plan is that taxpayer money will not be used. Instead, officials are exploring alternative ways to fund Bitcoin purchases, though exact details remain unclear.
Hines assured that the government wants to build its Bitcoin holdings without putting any financial pressure on citizens.
Debate Over a National Bitcoin Reserve
The idea of a national Bitcoin reserve has sparked mixed reactions. Supporters believe that Bitcoin’s decentralized nature makes it a great hedge against inflation and currency devaluation. They see it as a way for the US to strengthen its financial position in the global economy.
On the other hand, critics warn about Bitcoin’s volatility and the regulatory uncertainties surrounding digital assets. Despite these concerns, the administration remains firm in its commitment to increasing Bitcoin holdings.
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After U.S. President Donald Trump signed an executive order to create a strategic cryptocurrency reserve, the government is now exploring ways to buy Bitcoin without using taxpayer money. This move marks a big shift in its approach to digital assets and could push Bitcoin’s price to $100K soon. US Government Eyes To Add More Bitcoin …
SOL Strategies Inc. has filed a preliminary short form base shelf prospectus with Canadian securities regulators. This filing allows the company to raise up to $1 billion in future offerings. Consequently, post the announcement Solana price has recovered, climbing above $178. SOL Strategies Files $1 Billion Shelf Prospectus SOL Strategies Inc. which focuses on investing in the Solana blockchain ecosystem, has submitted a preliminary shelf prospectus to securities regulators throughout Canada. The filing allows the company to issue common shares, warrants, subscription receipts, units, debt securities or a combination thereof. Subject to final approval, these offerings could raise up to $1 billion in total capital. The company stated that this filing enhances its financial flexibility to seize growth opportunities in the Solana ecosystem. However, SOL Strategies currently has no immediate plans to issue securities under this prospectus. Any future offerings will be detailed in a prospectus supplement filed with the… Read More at Coingape.com
Cardano (ADA) has recently experienced a significant decline, bringing the altcoin to near its monthly low. The potential end of its Golden Cross has raised concerns, as it could signal further bearish price action for the cryptocurrency.
Despite these factors, long-term holders (LTHs) may help prevent a severe downturn by maintaining their positions.
Cardano Ends Its Golden Cross Short
The current market sentiment for Cardano points to the potential formation of a Death Cross. This happens when the 50-day exponential moving average (EMA) slips below the 200-day EMA.
If confirmed, it will mark the end of the ongoing Golden Cross, which has only lasted for three weeks. This short-lived Golden Cross is even shorter than the previous Death Cross, which lasted for over a month.
The relatively brief Golden Cross has left traders with a sense of uncertainty. A reversal in trend may trigger more sell-offs, amplifying the downward momentum. Therefore, Cardano’s price is in a critical phase, with any further bearish developments likely causing a deeper correction.
On the macro level, the Mean Coin Age (MCA) shows signs of an uptick, indicating that long-term holders (LTHs) are holding steady instead of selling. This behavior is crucial for stabilizing Cardano’s price, as LTHs typically resist selling in the face of short-term volatility. Their commitment to holding ADA strengthens the support levels, which could cushion the impact of the bearish trends from the broader market.
The resilience of LTHs provides an important counterbalance to the negative signals emerging from technical indicators. As long as LTHs maintain their positions, it’s possible that Cardano can withstand some of the bearish pressure and limit the downside risk.
Cardano’s current price is at $0.67, holding above the crucial support of $0.66. If the price fails to maintain this support, ADA could experience a further drop, possibly testing the $0.60 level. The loss of this key support could pave the way for additional losses, extending the ongoing downtrend.
The potential formation of the Death Cross would likely exacerbate the situation, bringing ADA to a month-and-a-half low. In such a scenario, the pressure on Cardano could intensify, making a recovery more difficult. Should the technical indicators align with broader market conditions, the risk of further declines increases significantly.
On the other hand, if Cardano price can hold above $0.66 and bounce back, a rise above $0.69 is possible. A successful breach of this level would position ADA for a push toward $0.74, potentially invalidating the bearish thesis. LTHs’ support and a reversal in the broader market could fuel this recovery.
