Gather around ocean and land dwellers alike! Itâs time for another round of Yabbyâs breaking news! What is new in the crypto sphere, are there any breakthroughs on the horizon and will a storm hit the ocean reef tonight? Stay tuned and fin out.
Solana on The Rise, BTC Stable
After a week of turmoil Crypto markets are showing signs of stabilization. BTC remains steady at around $84,500 which shows growth in spite of the comments from the president of the FED Jerome Powell. He stated that early interest rate cuts are not to be expected in the near future due to the U.S. tariffs causing inflationary pressure.
Solana leads the way in the race to rise between the leading altcoins with a 6% increase. Ethereum, Dogecoin and BNB are on the other hand showing growth between 1% and 3%. Analysts are predicting Bitcoin to continue trading in the region of $80,000 and $90,000 in the short term until clearer and better signals from U.S. monetary policy emerge.
Coinbase Expects Crypto Market Resurgence in the Third Quarter
Coinbaseâs newest monthly report states that the market for cryptocurrencies has entered a difficult period. With altcoins market cap shrinking by 41% from itâs high of $1.6 trillion in December to $950 billion by mid-April. However, thereâs hope! Coinbase analysts believe that the recovery will be underway as early as the third quarter of this year. They say the stabilization of the market and the return of positive sentiment could trigger a quick turnaround. The next 4 to 6 weeks should be key to seeing what happens next.
Polygon to Bring the Blockchain for 450 Million Users Across India
Polygon (formerly Matic Network) partnered up with an Indian telecommunication provider Reliance Jio. Their goal is to implement the blockchain technology in existing web services and to expand the reach of web3 technology to over 450 million people in India. The collaboration will focus on decentralization, speed and low costs with priority being the use of zero-knowledge technology. The initiative is being seen as a key step toward the adoption of blockchain technology in real-world applications on mass.
A Reward of 1 BTC for Quantum Computers & Encryption of Bitcoin
Project Eleven has announced a challenge called the âQ-Day Prizeâ and it offers 1 BTC to the first person who successfully breaks Bitcoinâs cryptography using a quantum computer. Doing it with ordinary computers is just not feasible. Their aim is to assess how big of a threat, do current quantum computers, pose to the security of BTC. They are already working on improving the overall security of crypto, but this test can give them the edge they need to stay a few steps ahead of anyone that tries to temper with the digital currency.
That brings Yabbyâs weekly news report to a close. Thank you for your time. What would you like Mr. Yabby to cover next? Let your voice be heard in the comments below. Stay informed and stay tuned until next time!
