Genius act limits big tech’s power over Stablecoins. Bitcoin targets $125k, Ethereum $4k. Brokerage Charles Schwab launched Bitcoin, Ether spot trading and Bitcoin’s 43% social dominance signals key entry point. Jane King has the latest from the NYSE.
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Thanks, Rey.
Here's a look at your Coin Street headlines.
The Genius Act blocks big tech banks as well from dominating stablecoins.
Circle's Dante Desarte says the Genius Act ensures that tech giants and banks cannot dominate the stablecoin market without facing strict structural and regulatory hurdles.
He adds it creates clear rules that he thinks in the end the biggest winners are the US consumers and market participants.
And the US dollar itself.
Well, Bitcoin market participants expect a resistance trend line breakout with nearby targets, including $125,000.
Attention continues to focus on altcoins while Bitcoin consolidates, with Ethereum reaching seven month highs.
Upside potential across altcoins remains, with many not yet copying ether's rebound.
And if you're interested in crypto but not sure where to start, Charles Schwab plans to offer.
Bitcoin and Ethereum trading.
It is aiming to attract clients who want to consolidate crypto holdings with their traditional assets.
The CEO of Schwab says crypto still represents a relatively small portion of clients' total wealth, about $25 billion out of $10.8 trillion and Bitcoins had 43% social chat dominance last week, suggesting a key entry point ahead of nearly half of all crypto-related mentions on.
Social media and that centered around Bitcoin as it did hit new highs, a level of dominance that may align a local top and a potential short term pullback.
That's according to sentiment platform Santa Mint as Bitcoin's market value crept of 123,000 for the first time in its 17 year history, there was an equally historic social dominant spike, according to Santain analyst Brian Quinlon, and that is the latest Coin Street headlines.