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Crypto Pulse Daily: Breaking FDIC Set to Unveil First Stablecoin Guidelines This Month

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The US Federal Reserve (FED) injected $13.5 billion into the banking system through overnight repurchase agreements as quantitative tightening (QT) ended on Monday. This marks the second-largest liquidity injection since the Covid pandemic, triggering trading actions in Bitcoin and MSTR stock.  

The US FDIC plans to publish draft rules that will detail how stablecoin issuers apply for federal oversight under the GENIUS Act. This is expected to be released before the end of the month.

The Ethereum price moves through an important phase as December begins, with market conditions shifting around key technical zones. The current framework creates a narrow band that determines the short-term orientation and maintains Ethereum near the levels that tend to cause significant responses. 

Besides, ETF outflows have risen this week and generated new movement around key levels and large players accumulated. Another layer of influence is that Ethereum is also nearing the Fusaka upgrade on 3rd December, another sensitive period.

Pump Coin price has risen to over $0.0028, reflecting a bullish trend in the past 24 hours. This rise is after a recovery where a new whale pumped in $23.5 million in the coin following a previous market downturn. The coin has experienced a 5% increase on the previous day, which has introduced optimism of a price increase.

As the broader cryptocurrency market is still in the consolidation phase after a week of bearish trading, major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP are experiencing sideways price movement.