News – Coinedict

Fartcoin Defies the Odds, Jumps 50% While the Rest of Crypto Tanks

Casey11 minutes ago10 minutes ago03 mins

While most of the crypto market is in panic mode this week, one unlikely token is stealing the spotlight — Fartcoin. Built on the Solana blockchain and known more for memes than serious fundamentals, this playful coin has skyrocketed nearly 50% this week, proving once again that crypto can be full of surprises. Despite a brutal sell-off triggered by Trump’s global tariffs — which wiped out over $180 billion from the overall market — Fartcoin has been on a roll. In the past 48 hours alone, it’s gained over 22%, and it shows no signs of slowing down. What’s really interesting is how it’s gaining. Unlike many tokens that rely on big players (whales) to push prices around, Fartcoin’s rally is almost entirely retail-driven. On-chain data confirms that there’s been very little large-scale movement. Instead, everyday traders and online hype are fueling the momentum — no shady pump-and-dumps here. From a chart perspective, things look bullish too. Fartcoin recently broke out of a classic “inverse head-and-shoulders” pattern — a setup traders often watch for major reversals. This pattern now hints that Fartcoin could surge toward $1.92 in the coming weeks, maybe even by May. Of course, it’s not all smooth sailing. The price is hovering near a key level around $0.59, which has acted like a ceiling in the past. If Fartcoin can’t stay above it, some traders worry it could form a “double top” — a bearish sign that might pull the token back down to the $0.30–$0.35 range. But for now? Fartcoin is riding high, and in a market full of fear and red candles, this cheeky memecoin is offering a breath of fresh air (pun fully intended).

XRP Price Drops, But Network Activity Tells a Different Story

Casey16 hours ago16 hours ago03 mins

XRP had a rough day in the markets today, with its price sliding about 7% to around $1.78. This drop pushed it below the important $1.94 support zone and the 200-day EMA—two technical levels many traders were watching closely. From a chart perspective, this suggests the bearish trend could continue unless something changes. But here’s the twist: while the price is down, activity on the XRP Ledger is actually up—way up. According to data from XRPScan, over 693 million XRP was moved across the network in just a single day on April 7. That’s a major spike in usage, showing that people are still actively using the network, even while the price falls. This kind of disconnect—where price dips but usage grows—can sometimes be an early sign of a comeback. It shows that real adoption is happening behind the scenes, even if speculators are currently selling off. Technical indicators like the RSI are sitting near oversold territory, which means the selling pressure could be nearing exhaustion. But there’s still risk. If XRP falls below the next key level at $1.65, it could trigger another leg down, possibly toward the $1.40 zone. On the flip side, if the price can quickly bounce back and reclaim the $1.94 mark, it could open the door for a return to $2 and beyond. In short: the market looks shaky, but the underlying fundamentals tell a more hopeful story. As adoption grows, the price could eventually follow. For now, XRP is caught in a tug-of-war between short-term fear and long-term value.

Bitcoin Dips to $77K as Trump’s Tariff Storm Shakes Crypto Markets

Casey16 hours ago16 hours ago03 mins

April 7, 2025 — The crypto market woke up to a rough Monday, with Bitcoin tumbling to around $77,000 and Ethereum slipping below $1,540. The sell-off was triggered by global jitters around U.S. President Donald Trump’s newly imposed tariffs, which have sent shockwaves through traditional markets — and now, the digital ones too. The sharp downturn hit Asia early in the day, wiping out over $160 billion in overall crypto value. Altcoins were hit even harder, as traders scrambled to cut risk in what’s being dubbed another “Black Monday.” According to Coinglass, over $745 million in bullish crypto positions were liquidated in just 24 hours — the biggest flush-out in nearly six weeks. “This is a classic risk-off move. Markets are nervous, and crypto isn’t immune,” said Edul Patel, CEO of Mudrex. Bitcoin briefly fell 7% to $77,077 before slightly recovering to around $78,938. Ether dropped over 12% to $1,538 — marking its lowest price since late 2023. Solana also saw double-digit losses, and even stablecoin Tether saw an unusually high volume as traders rushed for safety. Market watchers believe the tariffs are spooking investors into pulling back from riskier bets, with fears of a repeat crash like 2020’s “Black Monday” creeping in. “The tariff war is weighing heavily. We’re seeing macro-driven selling pressure,” noted Sean McNulty from FalconX. The global crypto market cap dropped 6.59% to $2.5 trillion. But there might be a silver lining: the U.S. is expected to reveal its official crypto holdings soon — a move that could provide clarity and potentially trigger a bounce. Some experts, including Cosmo Jiang of Pantera Capital, believe the sell-off is more political than structural. “This isn’t a sign of something fundamentally broken. It’s a temporary pullback driven by uncertainty — and it could reverse just as fast.” Still, the mood remains cautious. The Fear & Greed Index is drifting toward “Extreme Fear,” and Bitcoin is now dancing dangerously close to key support around $75,000. Whether the bounce comes soon or not, one thing’s clear — crypto is no longer just a niche asset. It reacts just like the rest of the market when the world gets shaky.

Elon Musk Pushes for US-EU Free Trade Zone and Easier Work Mobility

Casey2 days ago2 days ago02 mins

Elon Musk is once again thinking big—this time, about trade and borders. Speaking via video at a congress in Florence, Italy, Musk called for a completely free trade zone between the United States and the European Union. His comments came shortly after President Donald Trump announced new 20% tariffs on Italian and other EU imports. Rather than escalating trade barriers, Musk pushed for “zero tariffs” between the two regions. “It just makes sense,” he said, suggesting that open trade would benefit both sides of the Atlantic. Musk, who is currently one of Trump’s advisers, emphasized that this kind of partnership could lead to stronger economic growth. But his vision doesn’t stop with goods and services—he also wants to make it easier for people to move and work freely between the US and Europe. “If someone wants to work in Europe or in North America, they should be able to,” Musk added, highlighting how labor mobility is key in today’s global economy. However, things are a bit tense between Musk and the EU right now. Reports say that the European Union is planning to hit Musk’s social media company, X, with fines that could exceed $1 billion. Despite the legal drama, Musk’s message was clear: Less friction, more freedom—both in trade and in talent.

Gen Z in Chile Is All In on Digital Payments and Crypto, Says Report

Casey2 days ago2 days ago03 mins

A new report from Ecuadorian fintech firm Kushki paints a clear picture: Chile’s Gen Z isn’t just comfortable with tech—they’re living it. According to the company, over half of Chilean centennials (those born between the mid-1990s and early 2010s) are using digital tools to make payments, and many of them are already familiar with how crypto works. The findings come from Kushki’s latest study, “Payments in Latin America in 2025: From Inclusion to Sophistication.” The report shows a significant shift toward digital-first behavior in Chile, with nearly 30% of Gen Z using digital money exclusively, leaving traditional cash behind. And this trend is happening even though Chile doesn’t yet have clear rules around crypto—unlike countries like Brazil or El Salvador, which have taken stronger regulatory steps. “Chile has had a real-time payments system since 2008,” Kushki explained, “but cards—whether debit, credit, or prepaid—still make up about 66% of household spending.” That said, the shift toward instant, digital transactions is picking up steam across Latin America. One of the most eye-catching insights? Chilean users traded over $105 billion in crypto by 2024, outpacing both Colombia and Argentina. What’s more, on average, Chilean crypto investors are reportedly putting over half of their monthly income into digital assets. Kushki believes that while fiat-based real-time payments are a good starting point, the future of Latin America’s financial system will be built on more open and competitive platforms—potentially blending traditional finance with blockchain innovation. Earlier this year, some Chilean lawmakers even floated the idea of creating a “Bitcoin Bench” in Congress and proposed building a national Bitcoin reserve. But the Central Bank of Chile wasn’t on board. They shut the idea down, pointing to Bitcoin’s volatility as a key reason it shouldn’t be treated like a reserve asset. Still, the message is clear: Chile’s Gen Z is already living in the digital finance future, even if the government hasn’t caught up just yet.

Arthur Hayes Predicts Big Shift Toward Gold and Bitcoin After Trump’s New Trade Policies

Casey2 days ago2 days ago03 mins

Former BitMEX CEO Arthur Hayes is once again making waves—this time with bold predictions about the future of global finance. According to Hayes, recent trade policy changes introduced by Donald Trump could push countries to ditch U.S. stocks and government bonds in favor of “neutral” assets like gold and Bitcoin. Hayes believes we’re entering a new era—one that echoes the pre-1971 financial world, where gold played a central role in global trade. He suggests that if the U.S. deficit is reined in, other nations may start dumping their U.S. treasury holdings and rethink their financial strategies altogether. Why? Because in a world of rising tariffs and policy unpredictability, sticking to American debt could be too risky. “Even if Trump softens the tariff rules later, world leaders can’t afford to gamble on his consistency,” Hayes said in a social media post. Instead, Hayes sees gold and Bitcoin becoming the go-to assets for countries seeking stability outside of U.S. financial systems. In his eyes, gold will likely regain its spot as the preferred reserve asset for international trade. And while the U.S. dollar might still play a part, it won’t dominate as it once did. Interestingly, Hayes pointed out that Trump hasn’t imposed tariffs on gold—something he sees as a strategic move to keep it flowing freely as global markets adjust to this new reality. He also doubled down on his earlier support for tariffs, calling them a way to reset unfair global trade practices. For investors trying to get ahead of the curve, Hayes had a simple recommendation: “Buy gold, gold mining stocks, and Bitcoin.” Hayes, who was recently pardoned by Trump after legal troubles tied to BitMEX’s AML and KYC lapses, is clearly leaning into a vision where traditional finance takes a back seat—and digital and tangible stores of value take the wheel. In a world where global trade is shifting and certainty is hard to come by, Hayes believes that hard assets like gold and Bitcoin could be the safest bets.

XRP Struggles to Hold Ground as Sellers Keep Control

Casey2 days ago2 days ago04 mins

As of April 6, 2025, XRP is trading at $2.05, with a market cap of $119 billion and a daily trading volume of $1.87 billion. The price has been swinging between $2.05 and $2.16 in the last 24 hours, and between $1.97 and $2.19 over the past week. Despite holding steady for now, the overall trend suggests that buyers are losing steam. Short-Term Pressure Is Building Looking at the hourly chart, XRP has been slipping from its recent high of $2.17, now hovering just above $2.05. Although there were a few small bounce-backs, they didn’t come with strong volume, making them look weak and short-lived. Sellers are still dominating, and there’s no clear sign yet that the price is ready to bounce back for good. Resistance Still Strong The 4-hour view tells a similar story. XRP recently fell from $2.23 to $1.96, before a slight recovery. But that bounce didn’t last long — prices are again facing strong resistance near $2.15 to $2.18. Repeated rejections in this range hint at a potential bull trap, where buyers are caught off guard before the price drops again. Daily Outlook: Trend Still Down Zooming out to the daily chart, XRP seems to be in a distribution phase — a fancy way of saying smart money might be slowly cashing out. The price is forming lower highs and lower lows, and volume is drying up, suggesting buyers are becoming cautious. XRP is currently stuck between $2.10 and $2.15, but there’s not enough interest yet to spark a fresh rally. Indicators: Mixed, But Leaning Bearish Most momentum indicators are neutral right now, but some are flashing early warning signs. The RSI is sitting at 40, and the MACD is slightly in the red, both hinting at weakness. Until these indicators show more strength, it’s hard to argue for a bullish turnaround. Key Technical Levels to Watch Moving Averages Say: Still a Downtrend Most of XRP’s short- and medium-term moving averages are pointing down. Only the long-term 200-period moving averages show any bullish support, which means unless we see a strong shift in momentum, the downtrend may continue. Outlook Bullish Scenario:If XRP can stay above $2.05 and push back into the $2.10–$2.15 zone with solid trading volume, it could set the stage for a rebound toward $2.20 or even $2.40. Bearish Scenario:If selling pressure stays strong and XRP can’t hold support, the price may slide back toward $1.95 or lower. The current setup favors the bears, unless momentum flips in a big way.

Thailand’s Smart Take on Crypto: Careful, But Not Closed Off

Casey3 days ago3 days ago07 mins

When you think of crypto-friendly countries, Thailand might not pop up right away — but it should. Since 2018, Thailand has been building a smart and steady approach to crypto. The country isn’t jumping in blindly, but it’s also not shutting the door on innovation. Instead, it’s creating space for digital assets to grow — all while keeping investors protected and financial risks under control. Thailand’s Crypto Mindset: Open to Growth, Cautious on Payments Here’s how Thailand looks at it: Crypto is an investment tool, not a way to pay for your groceries. The Bank of Thailand has made it clear that using crypto for everyday payments isn’t allowed — the price swings are just too wild, and they could shake up the country’s financial system. But when it comes to blockchain tech and trading crypto in a controlled environment? That’s totally encouraged — as long as the right rules are followed. Who’s in Charge of What? Thailand has a few key players in its crypto game plan: They work together to make sure the space is safe and transparent. How It All Started Thailand didn’t just wake up one day and decide to regulate crypto. This has been a years-long process: It’s been a step-by-step journey, but a pretty forward-thinking one. Rules for Crypto Businesses Want to run a crypto exchange in Thailand? You’ll need to: Crypto & Taxes in Thailand Yes, crypto gains are taxed. The more you earn, the higher the rate — up to 35%, based on your income. Some transactions (like on licensed exchanges) get VAT exemptions, but most people still need to report their earnings. ICOs, NFTs & DeFi — Where Do They Stand? It’s a work in progress — and the government’s taking its time to get it right. Thailand’s Big Move: A Digital Currency of Its Own Thailand is working on its very own digital currency — kind of like a crypto version of the Thai baht. It’s already been tested for things like retail shopping and even cross-border payments with other countries. The goal? To make money transfers faster, cheaper, and more secure. Adoption Is Growing More Thai people are holding crypto now — almost half of the people who know about it own some kind of digital asset. Businesses are getting more interested, too, especially banks. Still, crypto payments aren’t widely accepted due to strict rules, and the government continues to push for better education around risks. Not Without Challenges No system is perfect, and Thailand’s crypto space has its hurdles: What’s Next? Thailand’s aiming to take things to the next level — aligning its regulations with global standards like Europe’s MiCA framework. Expect to see: Thailand may not be the loudest in the room, but it’s quietly building a crypto system that other countries might just want to copy.

XRP Shows Strength Despite Uncertainty, While Bitcoin Holds Steady Near $84K

Casey3 days ago3 days ago05 mins

The crypto market has had an exciting few days, especially for XRP holders. On April 4, XRP jumped by over 3%, outshining the broader market, which only rose about 0.85%. What’s driving the buzz? A mix of ETF hopes, legal drama with the SEC, and overall market movements. ETF Excitement Fuels XRP’s Climb XRP’s rally comes as talk about an XRP Spot ETF gains momentum. There are currently 18 XRP ETF applications waiting for the SEC’s green light, and rumors are swirling that BlackRock, the asset management giant, could be jumping in soon. While nothing is confirmed, this possibility has sparked optimism about future institutional demand. Ripple vs SEC: Still No Clarity Meanwhile, investors are also keeping a close eye on the ongoing legal saga between Ripple and the SEC. Ripple’s CEO had earlier claimed that the SEC dropped its appeal over XRP’s sales—but the agency has yet to officially confirm it. This silence has left many in limbo, and since the announcement, XRP has dropped about 28% from its March peak of $2.59. Ripple has proposed a deal with the SEC that would reduce fines and remove restrictions on XRP’s sales to U.S. institutions. But so far, there’s been no official word from the SEC, leaving investors to guess what happens next. What’s Next for XRP? XRP is currently trading around $2.13. If ETF news or a legal resolution comes through, it could surge back toward its all-time high of $3.55. But delays or more regulatory uncertainty might push it down to around $1.79. For now, the token’s future hinges on both legal decisions and market momentum. Bitcoin Hovers Below $85K, Stays Resilient While XRP is catching headlines, Bitcoin has been quietly holding its ground. It climbed to nearly $84,600 after a strong U.S. Jobs Report, but trade war fears between the U.S. and China kept gains in check. Despite global stock markets dipping to 11-month lows, Bitcoin and other major cryptos showed surprising stability. However, U.S.-based Bitcoin ETFs haven’t had the best week. On April 4 alone, several funds like Grayscale, ARK, and Bitwise reported net outflows totaling nearly $65 million—excluding BlackRock’s fund, which has been the market’s backbone. Still, Bitcoin is up over 1.6% for the week, proving once again that crypto can remain resilient even when traditional markets are shaky. Final Thoughts XRP is at a tipping point—with major ETF developments and legal clarity on the horizon, it could go either way. Bitcoin, on the other hand, continues to act like a safe-haven asset in times of global tension. Investors are watching closely. With CPI data, trade policies, and legislative news all expected soon, the next few weeks could be key for the entire crypto market.

SEC Clears the Air: Some Stablecoins Are Off the Hook

Casey3 days ago3 days ago02 mins

In a welcome move for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has finally offered more clarity on stablecoins—specifically the kind that are backed 1:1 by the U.S. dollar. The SEC’s Division of Corporation Finance announced that certain USD-pegged stablecoins, now referred to as “Covered Stablecoins,” are not considered securities. That means these digital dollars—like USDT (Tether) and USDC—don’t need to jump through the usual SEC registration hoops. To qualify, these stablecoins must: In short, they’re designed for stability—not speculation. The SEC emphasized that holders of these coins don’t expect to earn profits from them, and issuers don’t promise any returns. As a result, the creation and redemption of these stablecoins don’t count as investment contracts under U.S. securities laws. However, this exemption doesn’t apply to algorithmic, yield-bearing, or non-USD pegged stablecoins—which are still very much on the SEC’s radar. The agency says this move is part of its ongoing effort to bring transparency and certainty to the digital asset space. For crypto companies and users alike, that’s a much-needed dose of regulatory clarity.

Bitcoin: Digital Gold or Just Another Market Proxy? Swiss Crypto Bank Weighs In

Casey4 days ago4 days ago03 mins

For years, Bitcoin has been compared to gold—a stable store of value and a hedge against economic uncertainty. However, a new report from Swiss crypto bank Sygnum challenges that idea, suggesting that Bitcoin behaves more like a high-risk tech stock rather than the digital equivalent of gold. Despite high-profile endorsements—such as U.S. Federal Reserve Chair Jerome Powell calling Bitcoin a potential “safe haven asset”—its price movements tell a different story. According to Sygnum analysts, Bitcoin’s value is primarily driven by its status as a store-of-value asset, not by any technological applications or innovations on its network. Bitcoin Outshines Ethereum as Crypto’s Main Indicator Traditionally, Ethereum has been seen as the proxy for the broader crypto market due to its vast role in blockchain applications. However, recent trends indicate that Bitcoin is increasingly taking over that role. Sygnum notes that the underwhelming adoption of spot Ethereum ETFs suggests that many investors now see Bitcoin as sufficient exposure to the entire crypto sector. “This is evident in the weak adoption of Ethereum ETFs,” Sygnum’s report states. “New investors, for now, conclude that holding Bitcoin alone is enough to gain exposure to crypto.” Bitcoin’s Future Hinges on U.S. Regulations While Bitcoin’s reputation as a “digital gold” is still up for debate, its future may depend on regulatory moves in the U.S. If the cryptocurrency continues to mirror the stock market—behaving like “the Nasdaq on steroids,” as the report describes—it could struggle to establish itself as a true reserve asset. For now, investors are watching closely to see whether Bitcoin will cement its place as a global store of value or remain just another speculative asset in the financial markets.

Trump’s Tariffs Shake Up U.S. Bitcoin Mining Industry

Casey4 days ago4 days ago04 mins

The U.S. Bitcoin mining industry is facing a serious challenge as new tariffs on Chinese exports threaten to drive up costs and slow expansion. Former President Donald Trump has imposed a 34% tariff on Bitcoin mining equipment from China, a move that could significantly impact American mining companies that rely on Chinese hardware. Crypto Market Takes a Hit Trump’s executive order, signed on April 2, enforces reciprocal tariffs on nations that impose duties on U.S. goods. While the general tariff rate is 10%, certain countries—including Thailand (36%) and Malaysia (24%)—were hit with much higher rates. The crypto market reacted swiftly to the news. Bitcoin (BTC) dropped by 3.18%, falling from $85,238 to $82,526, while the overall crypto market lost around 4% of its total value between April 2 and April 3. Crypto-related stocks also suffered: Impact on U.S. Bitcoin Miners Since China banned Bitcoin mining in 2021, the U.S. has become a global mining hub, thanks to its regulatory stability and affordable energy. However, the new tariffs are forcing mining companies to rethink their expansion plans. According to Gadi Glikberg, CEO of CodeStream, the tariffs won’t drive miners out of the U.S. completely, but they could slow down growth and investment. Meanwhile, mining hardware suppliers are rushing to deliver equipment before the tariffs kick in. Taras Kulyk, CEO of Synteq Digital, confirmed that his company is fast-tracking thousands of mining units from Southeast Asia before the new costs take effect. Hardware Manufacturers Adapting With tariffs making Chinese imports more expensive, some manufacturers are shifting production: What’s Next? Investors are already factoring in the impact of the tariffs—shares of major U.S. mining firms, including MARA Holdings and CleanSpark Inc., dropped by around 10%. With the tariffs taking effect on April 5, mining companies will have to navigate higher costs, potential delays, and long-term shifts in the industry. Whether the U.S. remains a dominant player in Bitcoin mining will depend on how businesses adapt to these new challenges.