Elon Musk Leads DOGE, and Pepe Grows 40% in 24hs - November 14, 2024
Also, Bitcoin reaches $93K, and Coinbase acquires Utopia Labs.
TL;DR: Crypto Insights in Seconds
Ethereum: Research promises “Smart Transactions” to simplify user interactions.
Coinbase: Acquires Utopia Labs, adding a new payment processor.
PEPE: With new listing, the memecoin surged 40% in 24 hours.
Revolut: Expands crypto services to 30 new markets.
PYUSD: PayPal stablecoin goes cross-chain with LayerZero.
Italy: Adjust crypto tax from 42% to 28%.
DOGE: Trump confirms DOGE will be led by Elon Musk.
Price Update
Bitcoin Hits Record High Above $93K Amid Robust U.S. Demand
Bitcoin has surged to an all-time high of over $93,000, as strong U.S. demand pushes it past key resistance levels. This historic rally follows significant inflows into spot Bitcoin ETFs, totaling around $817 million in recent weeks.
Pepe Coin Surges with New Listings
Pepe saw its price jump following listings on Robinhood and news that Coinbase plans to add the asset. The memecoin has surged by over 40% in the past 24 hours. Pepe’s rise is a clear indication that niche tokens still capture investor attention even during a predominantly BTC-driven market.
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Business News
Revolut Expands Crypto Services to 30 New Markets
Revolut has broadened its crypto exchange offerings to an additional 30 markets, bringing crypto services to millions more users globally. The expansion is due to the increasing mainstream adoption of crypto, as traditional fintech platforms like Revolut cater to users seeking accessible digital asset services.
Coinbase Acquires Utopia Labs to Strengthen Stablecoin Payments
Coinbase has acquired Utopia Labs, a stablecoin payment processor, marking a strategic move to improve its payment processing capabilities. Utopia Labs will enable more efficient stablecoin transactions on Coinbase, particularly for large-scale and cross-border payments.
Ethereum Researchers Unveil “Smart Transactions” to Simplify the Network
Ethereum developers have revealed plans for “smart transactions,” a feature designed to streamline transaction processes and improve Ethereum’s role as the “world computer.” These innovations aspire to make the Ethereum network more user-friendly, potentially accelerating adoption by reducing the complexity of interactions for new users.
PayPal’s PYUSD Goes Cross-Chain with LayerZero
PayPal has implemented LayerZero technology to facilitate cross-chain transfers of its stablecoin, PYUSD, between Ethereum and Solana. This integration simplifies transactions for users, marking a significant step forward in interoperability within the stablecoin ecosystem.
Don’t Miss Anything
Italy Adjusts Crypto Taxation with Less Severe Rate Increase
Italy is set to introduce a more moderate hike in crypto tax rates, aiming at 28% instead of 42%, looking to balance revenue generation with fostering innovation. The tax adjustment is expected to provide regulatory clarity for crypto holders in Italy.
Trump Confirms DOGE to Be Led by Musk
Former President Donald Trump recently confirmed that Elon Musk will lead Dogecoin initiatives, an announcement that has sent waves of excitement through the memecoin’s community. Musk, known for his public enthusiasm for DOGE, is expected to bring renewed focus and potential utility to the coin.
Bitcoin’s rally past $93K and record stablecoin inflows highlight the sustained demand for digital assets. Ethereum’s new “smart transactions” and PayPal’s cross-chain PYUSD transfers exemplify the ongoing evolution of crypto technology, aiming to improve user experience and interoperability. As the market evolves, being informed and adaptable is crucial for investors and participants. Stay tuned for tomorrow’s newsletter to get the latest insights and updates in the market.
