X's Payment Licenses & Crypto Market Dip
X Obtains US Payment Licenses
Elon Musk's X platform has received payment processing licenses in multiple US states. This development opens the door for potential crypto integration within the platform, although specifics remain unclear. This move signals a significant step towards mainstream adoption of digital assets.
Crypto Market Overview
The cryptocurrency market experienced a mixed day following the positive Grayscale ruling. Bitcoin, after an initial surge, retraced, along with other major cryptocurrencies like Solana (SOL), XRP, and Polkadot (DOT). Ethereum is showing signs of a potential bearish trend, approaching a 'death cross'—a technical indicator suggesting a continued price decline.
- Bitcoin: Retraced after Grayscale-fueled gains. Average trade size hit its highest since June.
- Ethereum: Approaching a 'death cross' indicating potential further price drops.
- Solana (SOL), XRP, Polkadot (DOT): Led the slide among major cryptocurrencies.
- Exchange Holdings: Bitcoin holdings on crypto exchanges dropped to their lowest since January 2018, potentially suggesting reduced selling pressure.
Other Notable News
- Friend.tech maintains a surprisingly active user base despite a 95% drop in trading volume.
- Binance will gradually end support for BUSD products.
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