- Crypto remained quiet while BTC consolidated near $64K, ahead of key US inflation data.
- Kamala Harris reinforced the need for the US to dominate AI and blockchain.
Bitcoin [BTC] has consolidated between $62,000 and $64,000 in recent days, without a macro catalyst to put pressure on the markets.
The quiet price action was also seen on the opposite side Ethereum [ETH] And Solana [SOL] while stabilizing around $2600 and $150 respectively.
However, US GDP figures, chairman Jerome Powell said, and US inflation figures, due to be released this week, could cause some volatility.
Source: Coin360
Kamala Harris calls for US dominance in ‘AI and blockchain’
Vice President Kamala Harris has made her first statement on blockchain and general digital assets.
During her speech to the Economic Club of Pittsburgh, Harris emphasized the need for the US to “remain dominant” in the emerging technologies that will define the next century. She said:
“We will remain dominant in AI, quantum computing, blockchain and other emerging technologies.”
The crypto community welcomed its reaffirmation of support for digital assets, but some called for more action.
Kristin Smith, CEO of Blockchain Association, a collective voice for the industry, called for replacing SEC Chairman Gary Gensler and ending Operation Choke Point 2.0 (restricting banks’ access to crypto companies) regardless of who wins the US elections.
This could be a win-win scenario for the industry, especially given that Harris and Trump’s chances of winning the US election remain close to a coin toss. According to prediction site Polymarket, Harris led Trump by just 1 point.
Source: Polymarkt
PayPal Enables Crypto Support for US Sellers
US businesses can now buy, hold or sell cryptocurrencies through their PayPal business account. This will mark a new milestone for cryptocurrency adoption and usability.
Responding to the update, Jose Fernandez da Ponte, vice president of blockchain at PayPal, said merchants were demanding the service.
“Business owners have increasingly expressed a desire for the same cryptocurrency options available to consumers. We are excited to meet that demand by delivering this new offering, making it effortless for them to interact with digital currencies.”
PayPal will join the growing list of providers offering crypto payments for US businesses, such as Coinbase Commerce and BitPay.
What’s next for HMSTR after the airdrop and listing?
The Telegram-based Tap-to-Earn game, Hamster Combat, began airdropping 131 million HMSTR tokens to over 300 million users.
According to Ton Blockchain, the network that supports the token, this was the largest air drop in crypto and a huge stress test for the platform.
However, during the campaign there were notable community concerns about the low payouts.
Given its listing on major exchanges and user concerns, Bitget Research analyst Ryan Lee told AMBCrypto that the HMSTR token could experience massive volatility.
“In the short term, the price of HMSTR is likely to experience significant volatility…due to speculative buying and market hype…but after speculators take profits, a pullback could occur.”
He added:
“In the medium to long term, the price will depend on the actual progress of the project and the confidence of the users.”
In the meantime, the game has revealed its 2025 roadmapincluding integration with desktop games and new game titles. Whether it will rally around users after the airdrop campaign concerns remains to be seen.