Coinbase and Tether Play Major Roles in Cryptocurrency Rebound
In the cryptocurrency sector news, we note two important developments :
- Coinbase expands in New York : The famous exchange platform has announced the addition of four new tokens – Subsquid (SQD), Celestia (TIA), Bittensor (TAO), and XYO – to New York markets, thus complying with BitLicense requirements. This third regional listing of SQD in a month demonstrates Coinbase’s diversified approach, while its price continues to rise.
- Tether strengthens its Gold investment : The stablecoin giant announced acquiring 80 tons of gold, worth approximately $8 billion, in a Swiss vault. Although this reserve represents only 5% of its USDT holdings, it raises questions about Tether’s transparency and governance.
A Global Bullish Trend Emerges
Beyond these developments, the cryptocurrency market as a whole shows encouraging signs :
Total Market Cap Increase : The total cryptocurrency market capitalization has seen an increase of $22 billion in recent days, reaching $3.32 trillion. This surge comes ahead of major trade agreements to be announced by President Trump, which could push the market toward new highs around $3.43 trillion.
Bitcoin Consolidation : Bitcoin is currently trading at $108,618, just below the key resistance level of $109,476. Although the pace of the increase isn’t exponential, the Relative Strength Index (RSI) indicates that the bullish momentum remains intact. Breaking through the $110,000 threshold could allow BTC to target its previous record at $111,980 and beyond.
Cronos regains momentum : The altcoin Cronos (CRO) has surged 18% in the last 24 hours, trading at $0.0953. This strong growth follows the announcement of an ETF filing including CRO by Truth Social, Trump’s platform. CRO is now targeting $0.1007, provided it maintains solid support at $0.0943.
In conclusion, the crypto market appears to be regaining strength, driven by positive commercial news and encouraging technical indicators. However, support levels remain crucial to maintaining this bullish momentum. Investors should stay vigilant regarding upcoming announcements that could influence the short-term trend. Regardless, the crypto ecosystem demonstrates undeniable resilience and growth potential.
