Debt Ceiling Increase

Capitalization of stablecoinsapproaching $134 billion. According to CoinGecko, the capitalization of Tether (USDT) exceeded $90 billion for the first time in the middle of this week. USDT's dominance in the stablecoin market is 71.45%. The shares of the second and third largest fiat-backed digital currencies USDC and DAI in the market decreased to 19.28% and 4.26%, respectively.

📆 Flash News 02/04/2024 1️⃣Gate.io bigdata indicates that amid BTC and ETH price volatility, liquidations reached $305M in the past 24 hours, with BTC at $59M and ETH at $49M. 2️⃣Gate.io is set to launch trading for Ethena (ENA) and WormHole (W). ENA trading will commence on April 2nd at 8:00 AM, while W trading will start on April 3rd at 12:00 AM. 3️⃣MakerDAO proposes to allocate $600 million worth of DAI into USDe and sUSDe. 4️⃣Nine Bitcoin spot ETFs, including Grayscale, added 1,352 BTC net yesterday, totaling approximately $92.3M in net inflows. 5️⃣The countdown to BCH halving is only 1 day left, expected to be completed on April 3rd.

Experienced Analyst Reveals What Will Bring Down Bitcoin and Ethereum! The unsettling stagnation in the stablecoin market can lead to significant drops in the price of Bitcoin and Ethereum. The first three stablecoins, which dominate over 90% of the stablecoin market, froze before the release of the US Consumer Price Index (CPI) data. However, the halt of Tether (USDT), USD Coin (USDC), and DAI (DAI) was not only due to US-based data. The market value of these 3 stablecoins has been trapped in a narrow range especially since the Bitcoin halving. According to the data, the combined market value of these three major stablecoins has been fluctuating between 149 billion and 150 billion dollars for the past three weeks. According to Markus Thielen, the founder of 10x Research, who commented on the subject, these data in the stablecoin market indicate a downward signal for cryptocurrencies in general. Thielen stated that Bitcoin could drop below $55,000 and Ethereum could drop to the $2,500 range: Since the halving, we have seen almost zero growth in stablecoin inflows and a significant decrease in Bitcoin futures leverage. Contrary to the bullish tweets about the post-halving rally, crypto users have exhibited an unexpected behavior by slowing down or pausing their inflows. US CPI data will be announced on Wednesday, May 15th. It is believed that if the data comes out positive, the cryptocurrency market may revive, while a negative outcome is estimated to cause deeper losses. #What's your ETH price prediction upon the ETF decision?# #ContentStar##Gate post Highlights# #HotTopicDiscussion##BountyCreator# #GateLive##NewsMessenger#

📆 Breaking News 02/04/2024 1️⃣ Gate.io big data shows that amid BTC and ETH price volatility, liquidations reached $305 million in the last 24 hours, with BTC at $59 million and ETH at $49 million. 2️⃣ Gate.io is set to launch trading for Ethena (ENA) and WormHole (W). ENA trading will start at 08:00 on April 2, and W trading will start at 12:00 on April 3. 3️⃣MakerDAO proposes to allocate $600 million worth of DAI to USDe and sUSDe. 4️⃣Nine Bitcoin spot ETFs, including Grayscale, added a net 1,352 BTC yesterday, totaling a net inflow of about $92.3 million. 5️⃣The countdown to the BCH halving is only 1 day away and is expected to be completed on April 3.

📆 Flash News 09/05/2024 1️⃣Gate.io bigdata indicates that amid BTC and ETH price volatility, liquidations reached $138M in the past 24 hours, with BTC at $34M and ETH at $21M. 2️⃣CryptoQuant analysts indicate the Dencun upgrade has caused Ethereum to inflate again. 3️⃣MakerDAO states the DAI supply has increased by $1 billion in the past two months. 4️⃣Injective integrates with Arbitrum's Orbit suite to launch Ethereum-based Layer3. 5️⃣Ethereum interoperability protocol Omni Network introduces Octane to streamline EVM integration.