Gallup Poll Reveals 14% of U.S. Residents Own Digital Currencies Like Bitcoin
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In the rapidly evolving world of cryptocurrencies, several significant developments have taken place in recent times. Here's a roundup of the latest news:
Younger men and conservatives are demonstrating a growing interest in cryptocurrency ownership, with men under 50 accounting for 25% of the total holders, and conservatives being more inclined towards this digital asset class.
On the financial front, Ethereum (ETH) has secured a notable $80 million OTC financing from Cumberland. Meanwhile, the price of Bitcoin, the largest cryptocurrency by market cap, currently stands at $118,208.24, giving it a market cap of $2.35 trillion. Bitcoin maintains a dominant 60.33% share of the overall market.
In the realm of altcoins, Justin Sun, the founder of Tron, has transferred 50M WLFI tokens to a new wallet. Ethereum Layer 2 Starknet has also resumed operations following a network outage.
Ripple, the third-largest cryptocurrency, has seen a surge in attention due to Brad Garlinghouse, its CEO, promoting Ripple (XRP) as a leading alternative to SWIFT for faster, cheaper cross-border transactions. Proposals for a Ripple-based ETF are expected to increase market liquidity by an estimated $1 trillion.
The regulatory landscape is also evolving. The SEC and CFTC have confirmed a joint crypto trading statement, and both organisations are planning a roundtable for crypto regulation. The SEC has also hosted a roundtable on financial surveillance and privacy, aiming to address concerns related to cryptocurrencies and privacy.
In terms of public sentiment, while legislative support like the Genius and Clarity Acts has been introduced, a prevailing skepticism towards cryptocurrencies remains. However, it's worth noting that college graduates and high-income earners are among the demographics showing a high rate of cryptocurrency ownership.
Lastly, the Federal Reserve Chair role has been a topic of debate, with Yellen's selection being disputed, and Trump considering Hassett for the position. Meanwhile, Linea has launched a $1 billion liquidity incentive program to boost the crypto market.
John Kojo Kumi, a renowned cryptocurrency researcher and writer, has been shedding light on emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. Kojo Kumi holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi.
As always, stay informed and make wise decisions in your cryptocurrency investments.
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