- The cryptocurrency market has been relatively stable as BTC hovers around $64K in anticipation of crucial U.S. inflation reports.
- Kamala Harris emphasized the importance of U.S. leadership in the fields of AI and blockchain technology.
Bitcoin [BTC] has been trading sideways between $62K and $64K recently, lacking significant macroeconomic triggers to influence the market.
This subdued price movement has also been reflected in Ethereum [ETH] and Solana [SOL], which have steadied around $2600 and $150, respectively.
However, upcoming U.S. GDP data, comments from chair Jerome Powell, and the inflation report scheduled for release this week might create some market fluctuations.
Source: Coin360
Kamala Harris advocates for U.S. leadership in ‘AI and blockchain’
Vice President Kamala Harris has made her inaugural remarks about blockchain and digital assets.
In her speech delivered at the Economic Club of Pittsburgh, Harris stressed the necessity for the U.S. to ‘stay ahead’ in revolutionary technologies that will shape the future. She stated,
“We will … remain dominant in AI, quantum computing, blockchain, and other emerging technologies.”
The crypto sector welcomed her expression of support for digital assets, though many are urging for more substantial actions.
Kristin Smith, CEO of the Blockchain Association, a collective industry voice, called for the removal of SEC chair Gary Gensler and the end of Operation Choke Point 2.0 (restricting banking access for crypto companies), regardless of the outcome of the U.S. elections.
This could represent a favorable outcome for the industry, particularly as Harris and Trump’s chances of winning the U.S. elections are nearly equal. According to prediction platform Polymarket, Harris leads Trump by a mere 1 point.
Source: Polymarket
PayPal launches crypto support for U.S. businesses
U.S. merchants can now buy, hold, or sell cryptocurrencies directly through their PayPal business accounts, marking an important step in promoting crypto adoption.
In response to this rollout, Jose Fernandez da Ponte, vice president of blockchain at PayPal, mentioned that there was a high demand for this feature among merchants.
“Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”
With this move, PayPal joins a growing roster of platforms enabling crypto payments for businesses in the U.S., including Coinbase Commerce and BitPay.
What awaits HMSTR after the airdrop and listing?
The Telegram-based Tap-to-Earn game, Hamster Combat, initiated an airdrop of 131 million HMSTR tokens targeting over 300 million users.
According to Ton blockchain, the infrastructure behind the token, this was the largest airdrop in the crypto space and served as a significant stress test for the platform.
Nevertheless, there were some concerns in the community regarding the low payouts during the distribution phase.
Considering the recent listing on major exchanges and user apprehensions, Bitget Research analyst Ryan Lee informed AMBCrypto that the HMSTR token might witness significant price fluctuations.
“In the short term, HMSTR’s price is likely to experience significant volatility… due to speculative buying and market hype…, but after speculators take profits, there could be a pullback.”
He added,
“In the medium to long term, the price will depend on the project’s actual progress and users’ trust.”
Meanwhile, the game has unveiled its 2025 roadmap, which includes plans for integration with desktop platforms and new gaming titles. The future engagement from users following the airdrop raises questions that remain to be seen.
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