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- Vancouver Mayor Proposes Adopting Bitcoin as a Reserve Asset
Vancouver Mayor Proposes Adopting Bitcoin as a Reserve Asset
News on the Blockchain
November 28, 2024
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 762
Market Cap: $3.22T (+0.50%)
24h Volume: $214.85B (-11.96%)
Bitcoin Dominance: 57.33% (-0.37%)
Ethereum Dominance: 12.75%
ETH Gas Price: $3.13
Fear & Greed Index: 81 (Extreme Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $93,403.68 | +0.25% | $1.85T | $85.27B |
Ethereum (ETH) | $3,413.85 | +1.52% | $411.15B | $39.58B |
Tether (USDT) | $0.9999 | +0.08% | $132.67B | $172.47B |
BNB (BNB) | $619.97 | +1.50% | $89.28B | $2.49B |
Solana (SOL) | $233.49 | +0.29% | $110.86B | $6.66B |
💹 Market Highlights:
Total DeFi Volume: $13.53B (6.30% of total 24h volume)
Stablecoins Volume: $198.02B (92.16% of total 24h volume)
Coin with highest % change: EVAN (+57.33%)
📈 Preview On Today’s News:
- Vancouver Mayor Proposes Adopting Bitcoin as a Reserve Asset
- Jim Cramer's Last Opinion on Cryptocurrencies as a Hedge
- Top Altcoins Poised for a $10 Billion Market Cap in the Bull Market
Keep reading for more!
Today’s News:
1)
Vancouver Mayor Proposes Adopting Bitcoin as a Reserve Asset
Vancouver's Mayor, Ken Sim, has proposed a motion to make Bitcoin a reserve asset for the city, aiming to preserve its purchasing power through diversification of financial resources. This move is part of a larger trend as global cities, including Brazil and the United States under potential leadership from Donald Trump, explore similar initiatives. Vancouver's adoption of this idea would align with Sim's pro-crypto stance, which includes accepting crypto donations during his campaign to showcase commitment to technology. The proposal is expected to be formally introduced in early December 2024.
Vancouver’s Mayor Ken Sim has proposed making Bitcoin a reserve asset for the city to diversify financial resources and protect purchasing power.
The motion reflects a broader trend of cities and countries, like Brazil and potential U.S. President Donald Trump, exploring the adoption of Bitcoin in public finance.
2)
Jim Cramer's Last Opinion on Cryptocurrencies as a Hedge
Jim Cramer, host of CNBC's Mad Money, recently shared his views on cryptocurrencies, emphasizing their potential as a hedge against economic uncertainty and national debt. He acknowledged that while there is no concrete proof cryptocurrencies can protect against fiscal mismanagement, their appeal lies in their rhetoric. Cramer compared the current financial landscape to the Great Depression, referencing Executive Order 6102, which allowed the U.S. government to seize gold, suggesting that digital assets could offer a safer alternative. Cramer remains confident in Bitcoin and other cryptocurrencies, viewing them as a crucial part of a diversified portfolio due to their resistance to confiscation and their role in wealth preservation.
Jim Cramer advocates for cryptocurrencies as a hedge against economic uncertainty, comparing them to gold, which can be confiscated, emphasizing their role in a diversified portfolio.
Despite the lack of concrete evidence supporting crypto's protective qualities, Cramer supports digital assets as a way to preserve wealth in light of national debt concerns.
3)
Top Altcoins Poised for a $10 Billion Market Cap in the Bull Market
Several altcoins are emerging as strong contenders in the crypto space, with their market caps nearing $10 billion as they gain traction in the bull market. PEPE, a deflationary meme token, has a market cap of $8.39 billion but faces uncertain long-term stability. NEAR Protocol, with its scalable blockchain technology, is valued at $8.31 billion, offering high transaction speeds and low fees. Uniswap’s innovative decentralized exchange, with a market cap of $7.91 billion, continues to be a cornerstone in DeFi. Litecoin, valued at $7.29 billion, offers faster transactions than Bitcoin, and Internet Computer (ICP), at $5.4 billion, is redefining decentralized internet services.
PEPE and NEAR Protocol are rapidly gaining attention, with market caps of $8.39 billion and $8.31 billion, respectively, while Uniswap, Litecoin, and ICP also maintain strong market positions.
PEPE focuses on meme-driven market trends, while NEAR and ICP offer groundbreaking blockchain technology with significant scalability and decentralized internet services.
