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Bitcoin has been showing steady progress, with a nice bounce on Wednesday. Thursday morning saw a brief spike, pushing the price of Bitcoin above $87,300, its highest point in two weeks. This was an attempt to break through the 200-day moving average, but the rally was short-lived. For Bitcoin to maintain momentum, staying above this key level is crucial. If it does, it could spark renewed interest in buying a variety of coins that have been in a correction phase for a while.
Crypto News
In the news, there’s a significant update regarding Ripple. The US Securities and Exchange Commission (SEC) has dropped its case against the company. Ripple’s CEO, Brad Garlinghouse, confirmed the SEC’s decision to drop the appeal, bringing an end to a case that had been ongoing for over four years.
Meanwhile, a report from Artemis and Dune reveals impressive growth in the stablecoin market. Over the past year, the total supply of stablecoins has increased by 63%, while monthly transaction volume surged by 115%, reaching a total of $35 trillion.
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