The Latest Updates in the World of Cryptocurrency: From Bitcoin to Harris to Hamster Kombat
Bitcoin [BTC] has been trading within a range of $62K to $64K for the past several days without any significant catalyst to drive the markets.
A similar trend of stability was observed in Ethereum [ETH] and Solana [SOL], which maintained levels around $2600 and $150, respectively.
However, potential market-moving events such as the U.S. GDP report, comments from Federal Reserve Chair Jerome Powell, and upcoming inflation data could inject some volatility into the market this week.
Kamala Harris Advocates for U.S. Leadership in ‘AI and Blockchain’
Vice President Kamala Harris has publicly addressed the importance of blockchain and digital assets, emphasizing the U.S.’s need to retain its leading position in emerging technologies that will shape the future. During her speech at the Economic Club of Pittsburgh, Harris stated,
“It is crucial for the United States to maintain its dominance in AI, quantum computing, blockchain, and other innovative technologies.”
While the cryptocurrency community welcomed her vocal support for digital assets, some have called for more concrete actions to be taken.
Kristin Smith, the CEO of Blockchain Association, a prominent industry advocacy group, urged for the replacement of SEC Chair Gary Gensler and an end to Operation Choke Point 2.0 (a practice limiting banking access for crypto firms), regardless of the outcome of the upcoming U.S. elections.
This call for action could prove beneficial for the industry, especially since the odds between Harris and Trump winning the election are currently neck and neck. According to predictions from Polymarket, Harris is leading Trump by a mere 1 point.
PayPal Introduces Cryptocurrency Support for U.S. Merchants
U.S. businesses now have the capability to engage in buying, holding, or selling cryptocurrencies through their PayPal business accounts, marking another step forward in cryptocurrency adoption and usability.
In response to this development, Jose Fernandez da Ponte, PayPal’s Vice President of Blockchain, highlighted the demand for such services from merchants.
“Business owners have been increasingly vocal in expressing their desire for the same cryptocurrency functionalities available to consumers. We are thrilled to meet this demand by introducing this new service, enabling them to seamlessly interact with digital currencies.”
PayPal joins the growing list of providers, including Coinbase Commerce and BitPay, offering cryptocurrency payment solutions for U.S. businesses.
What Lies Ahead for HMSTR Post-Airdrop and Listing?
The Telegram-based Tap-to-Earn game, Hamster Kombat, kicked off its airdrop of 131 million HMSTR tokens to over 300 million users, marking the largest airdrop in crypto and a significant stress test for the underlying Ton blockchain network.
Despite the successful airdrop, there were concerns within the community regarding low token payouts during the campaign.
With the token now listed on major exchanges and considering user apprehensions, Bitget Research analyst Ryan Lee speculated to CryptoCrypto that HMSTR could witness substantial price volatility.
“In the short term, we can expect significant price fluctuations for HMSTR due to speculative trading and market excitement, but once speculators secure their profits, a pullback might occur.”
Lee further noted,
“The token’s price trajectory in the mid to long term will heavily rely on the project’s tangible progress and user confidence.”
As the game unveils its 2025 roadmap, outlining integrations with desktop games and new titles, the community waits to see if Hamster Kombat can rebound from the concerns raised during the airdrop campaign.