Here’s a breakdown of key market developments from today:
**Bitcoin Fluctuation:** Bitcoin saw a slight decline, falling below its 200-hour moving average, as the US dollar strengthened ahead of Federal Reserve Chairman Powell’s upcoming address. The absence of new government data due to the ongoing shutdown contributed to volatility.
**Investment Highlights:** Luxembourg’s Intergenerational Sovereign Wealth Fund ventured into Bitcoin by investing 1% of its $730 million holdings in Bitcoin ETFs, marking the first Eurozone fund to do so. This follows Wyoming’s trend of issuing state-sponsored cryptocurrencies for transactions.
**Stablecoin Innovation:** Citi Ventures and Visa have invested in BVNK, a stablecoin payment platform processing over $20 billion annually. This investment underscores the growing use of stablecoins for on-chain and cryptocurrency settlement.
**Market Expansion:** Block Street secured $11.5 million in funding led by Hack VC to develop an execution layer for on-chain stock trading and lending on Monad, furthering the trend of decentralized financial applications.
**MetaMask Updates:** MetaMask is expanding its functionality with integrations from Polymarket prediction markets, Hyperliquid perpetuals trading, and a rewards program for its upcoming token.