14 hours ago
Can one be a staunch crypto backer and a supporter of U.S. dollar supremacy? That stance could become a dilemma for President-elect Donald Trump, who has touted both goals for his next administration. Case in point: As U.S. sanctions complicate Russia`s international trade, the country is turning to bitcoin ( BTC-USD ) and other digital currencies for payments across its borders. "As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia [in foreign trade transactions]," Finance Minister Anton Siluanov told the Russia-24 TV channel. "Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year." The news follows the Kremlin`s recent approval of a tentative legal framework involving Russian crypto miners and supportive comments of the sector earlier this month by the country`s top leader. "A legitimate question: why accumulate [dollar] reserves if they can be lost so easily?" Vladimir Putin said at the Investment Forum in Moscow. "Who can ban Bitcoin? Nobody. And who can prohibit the use of other electronic means of payment? Nobody. Because these are new technologies, and no matter what happens to the dollar, these tools will develop one way or another because everyone will strive to reduce costs and increase reliability." More on sanctions Russia and Iran link payment networks to shake off sanctions U.S. prepares new sanctions to curb Russia`s military capabilities, Yellen says Can U.S. sanctions on Russia backfire on the dollar`s dominance?
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StakeStone’s Berachain Vault TVL Surpasses $130 Million in 24 Hours
StakeStone, an omnichain liquidity protocol, launched an incentivized Berachain vault built with Royco on Dec 25, and over $130 million has poured in since. The vault is one of two incentivized pre-deposit vaults launched as a part of Berachain’s “69 hours of Beramas” initiative. Depositors are set to earn rewards such as airdrops and staking incentives from StakeStone and Berachain, plus Berachain ecosystem project rewards from Boyco, which is Royco’s Berachain implementation, KodiakFi and Dolomite . In addition to the StakeStone vault, Beramas also includes a vault through Lombard and its Bitcoin-specific vault . The StakeStone vault has attracted more than double the deposits of Lombard’s, which holds $62 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io Seeking Alpha
Bitcoin Cycle Top ‘Still Seems Far Off,’ According to CryptoQuant CEO – Here’s His Outlook
The chief executive of market intelligence platform CryptoQuant says that Bitcoin ( BTC ) still has a ways to go before reaching its cycle top. In a new thread on the social media platform X, CryptoQuant CEO Ki Young Ju says that those predicting an upcoming bear market for the crypto king are likely ignoring on-chain data that shows BTC has been in a bull market for the last two years. According to Ju, crypto whales accumulating large amounts of the top crypto asset by market cap has gone from being a newsworthy event to a routine one, proving the bull market isn’t over. “The narrative of whale accumulation on Bitcoin has become so common that it’s now daily chatter. Just 2-3 years ago, news of whales accumulating would send shockwaves through the market. Today, it’s no longer breaking news – it’s just expected, routine information… Right now, we’re clearly in a bull market, with on-chain data showing $7 billion in weekly capital entering the market… News of whale accumulation no longer moves people – maybe because analysts, including me, have been calling it a bull market for the last two years. But the bull market isn’t over. If Bitcoin enters a bubble, all the analysts would be screaming about the cyclical top.” Ju goes on to say that BTC is not in a “bubble,” which he defines as when an asset’s market price significantly exceeds the capital flowing into it, noting that its cycle peak is not close. “For now, it’s obviously not a bubble. Sure, corrections can happen, but amid a bull cycle, it’s very unlikely we’ll see more than a 30% drop. Even if such a drop happens, it would likely be short-lived, with prices potentially going up more than 30% after the correction. The peak of this Bitcoin cycle still seems far off. For those predicting the start of a bear market, I’d like to hear their reasoning.” Source: Ki Young Ju/X Bitcoin is trading for $96,387 at time of writing, a 1.9% decrease over the last 24 hours. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Bitcoin Cycle Top ‘Still Seems Far Off,’ According to CryptoQuant CEO – Here’s His Outlook appeared first on The Daily Hodl . Seeking Alpha
