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PLUS: Mantle Network is mulling a $200 million ecosystem fund for its new layer-2 blockchain.
Bitcoin Ordinals, a method of generating non-fungible tokens (NFTs) through a process called inscribing, debuted in January, bringing the NFT and smart contract narrative to the Bitcoin blockchain.
The CPI sank to 4% in May and has been trending downward, although the Federal Reserve seems likely to follow through on an intended rate hike later this month.
The head of research for digital asset manager 3iQ wrote that the largest cryptocurrency by market capitalization is still riding tailwinds from multiple spot bitcoin ETF filings and other June events.
Buying for the trust has picked up on hopes the SEC might soon approve a spot bitcoin ETF.
The bank previously said it expected the cryptocurrency to reach $100,000 by then.
The latest price moves in crypto markets in context for July 10, 2023.
China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
- 18:48U.S. Republicans end up with a majority of 220 seats in the House of RepresentativesDecember 5 news, local time on December 4, California's 13th district Republican Congressman John Duarte admitted defeat in the election for the last seat in the House of Representatives. U.S. House of Representatives election to this complete end, the Republican Party finally won 220 seats in the House of Representatives, the Democratic Party won 215 seats.
- 18:08Data: YouTube cryptocurrency-related videos reached 4.72 million views in November, a nearly 12-month highOn 4 December, YouTube's cryptocurrency-related videos reached a 12-month high of 4.72 million views in November, according to data, but were still 50 percent below the all-time peak of 9.3 million views, with Coin Bureau and Crypto Banter each getting more than 1 million views. Notably, Phantom Wallet and Coinbase were both ranked in the top 100 app shops as the price of bitcoin stabilised around $90,000, indicating that retail investors are returning to the market.
- 18:08ECB Governing Council member Negel: no objection to rate cut next weekThe European Central Bank may cut interest rates again next week, but easing should remain gradual and cautious, ECB Governing Council member Negel said on Wednesday. ‘Given that the process of disinflation is proceeding largely in line with current expectations, at this stage I would not object if we went ahead with a reduction in the policy rate,’ Negel said on Wednesday. ‘But I will reserve final judgement and will make a decision after reviewing the new macroeconomic projections for December and considering the risks around the baseline.’
