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Ripple announced the launch of a U.S. dollar-pegged stablecoin on the XRP Ledger and Ethereum, aiming to compete with Tether and Circle in the $150 billion stablecoin market. The stablecoin is backed by U.S. dollar deposits, short-term U.S. government treasuries, and cash equivalents, with plans for third-party audits and monthly attestations for transparency. This move is seen as a strategic step for Ripple and is expected to enhance liquidity and opportunities for the XRP Ledger community.

Portfolio Pulse from Murtuza Merchant

April 04, 2024 | 2:54 pm

Dogecoin (DOGE) experienced a significant 40.1% increase over the week, surpassing other major cryptocurrencies and reaching a two-year high. This surge is attributed to increased interest following news of social media platform X, owned by Elon Musk, gaining additional state licenses for payments, and Coinbase Global's (NASDAQ:COIN) announcement of introducing futures trading for Dogecoin. Dogecoin now ranks as the eighth most valuable cryptocurrency, with a market capitalization of $30.2 billion, and eyes moving up further.

Portfolio Pulse from Chris Katje

March 29, 2024 | 5:31 pm

Federal Reserve Chair Jerome Powell stated the Fed is not in a rush to cut interest rates despite the latest PCE report showing inflation rose in February. The report aligns with the Fed's expectations, and Powell emphasized rate cuts would occur when inflation is on track to hit the 2% goal. The crypto prediction market Polymarket has seen increased bets on a rate cut by June, influenced by recent inflation data.

Portfolio Pulse from Chris Katje

March 29, 2024 | 4:55 pm

Investors and analysts are anticipating the Federal Reserve's potential rate cuts in 2024, with the FOMC meetings being closely watched. The Fed hinted at three rate cuts for 2024, adjusting from an initial four due to higher inflation. Goldman Sachs economist Alec Phillips predicts these cuts in June, September, and December. The crypto prediction market Polymarket has over $3.1 million wagered on the timing of these cuts, with a majority betting on a cut by June 12.

Portfolio Pulse from Chris Katje

March 19, 2024 | 4:54 pm

President Joe Biden's State of the Union speech and Super Tuesday results have positively impacted his odds for the 2024 presidential election, according to Polymarket. Former President Donald Trump also saw improved odds. Polymarket users bet on political outcomes using cryptocurrencies like Polygon (MATIC), USDC, and Ethereum (ETH). Current odds favor Trump at 54% and Biden at 33%. Betting trends indicate a slight shift in favor of the frontrunners, with Biden experiencing the largest increase in dollars wagered.

Portfolio Pulse from Chris Katje

March 08, 2024 | 8:35 pm

Former President Donald Trump is leading in the GOP nomination for the 2024 presidential election, with recent primary wins boosting his odds against Nikki Haley. Crypto bettors on Polymarket are actively placing wagers on states Trump is likely to win or lose during Super Tuesday, with significant attention on states like Oklahoma, Alabama, Tennessee, and Texas for potential big wins. Polymarket users utilize cryptocurrencies like MATIC, USDC, and ETH for betting, with recent polls indicating Trump's strong lead in several key states.

Portfolio Pulse from Chris Katje

March 01, 2024 | 9:46 pm

Crypto bettors on Polymarket are heavily favoring Donald Trump to win every state in the GOP primaries against Nikki Haley, with an 87% chance of Trump winning every state. Trump's lead in early voting states and a recent Morning Consult poll showing a 63-point lead over Haley among Republican voters underscore his dominance. The betting market's odds have increased from 50% in January to 87% currently. Bettors also predict a high chance of Trump winning by at least 20% in the upcoming South Carolina primary, a key state for Haley.

Portfolio Pulse from Chris Katje

February 23, 2024 | 7:48 pm

Solana, in partnership with Helio, pre-sold 100,000 mobile phones, generating $45 million with zero fees using the Solana Pay plugin and USD Coin. This showcases the potential of blockchain payments in e-commerce by offering significant cost savings and eliminating intermediaries. Over half of the payments were processed through Solana Pay, indicating a growing consumer interest in blockchain-based transactions. Solana's stock rose 3.5% amid these developments and Bitcoin's market cap reaching $1 trillion.

Portfolio Pulse from Murtuza Merchant

February 14, 2024 | 9:43 pm

President Joe Biden and Donald Trump are the frontrunners for the 2024 presidential election, with Biden committed to Kamala Harris as his running mate, despite speculation and a Benzinga poll suggesting a Biden-Haley ticket could be more favorable. The poll also indicates a preference for Trump choosing Ron DeSantis over Nikki Haley. Political betting markets like Polymarket, where users can bet on political events using cryptocurrencies like Polygon (MATIC) and USDC, show varying odds for potential vice presidential picks.

Portfolio Pulse from Chris Katje

February 06, 2024 | 5:39 pm

Visa (NYSE:V) has partnered with Transak to enable direct cryptocurrency to fiat withdrawals, allowing users in 145 countries to cash out over 40 cryptocurrencies at 130 million merchant locations. This move, part of Visa's ongoing expansion into cryptocurrency services since 2020, has raised concerns regarding security, user experience, and its impact on the decentralized nature of digital currencies. Despite these concerns, the partnership is seen as a significant step towards mainstream cryptocurrency acceptance, offering users more flexibility and convenience.

Portfolio Pulse from Murtuza Merchant

February 01, 2024 | 5:12 pm

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