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Bitcoin Bounces Back Amid Anticipated Debt-Ceiling Agreement

Bitcoin is showing promising signs of recovery, witnessing an upward trend on Thursday, following a boost in the late hours of Wednesday. This positive shift coincided with a surge in the U.S. equity markets, fueled by optimism surrounding an imminent debt-ceiling agreement.

Logo of Bitcoin
Logo of Bitcoin

The world's most valuable cryptocurrency, Bitcoin, kicked off its ascent on Wednesday after dropping to a weekly low of $26,500. As of the press, Bitcoin traded at approximately $27,400, marking a 3% increase on the day. Following a meeting at the White House, U.S. President Joe Biden and Congressional representatives from both political factions underscored their intention to finalize soon a deal to raise the federal government's debt ceiling.

Ripple to Initiate a Central Bank Digital Currency Platform for Customization

Ripple is set to launch a Central Bank Digital Currency (CBDC) platform in another exciting development in the crypto space. This platform will empower central banks, governments, and financial institutions to mint their unique digital currencies. The platform facilitates the management and customization of the entire life cycle of the CBDC, encompassing activities such as minting, distribution, redemption, and token burning. Moreover, it will allow financial institutions to manage and participate in inter-institutional settlement and distribution processes using the CBDC.

The platform even supports the issuance of wholesale and retail CBDCs compatible with offline transactions. It is an upgraded version of Ripple's Private Ledger, a system established in 2021 for issuing CBDCs.

Bitcoin Frogs: The Latest NFT Sensation Outperforming Notable Collections

Bitcoin Frogs, the newly minted non-fungible token (NFT) collection inspired by frogs, has quickly climbed to the top, becoming the most traded collection within 24 hours. This achievement has propelled it beyond even well-known collections like Bored Apes.

Launched in late February on Bitcoin Ordinals, Bitcoin Frogs reported a trading volume exceeding $2.2 million, per CryptoSlam data. This unique collection, which includes "10,000 unique frog collectibles minted directly on the Bitcoin Blockchain," is attracting significant interest in the NFT market. As of the latest reports, each NFT was sold for 0.12 bitcoin (BTC), or upwards of $3,200. Trading fees fluctuate between $50 and $1,200, reflecting the high demand and activity around these novel NFTs.