Bitcoin Breaks $121,000; Ethereum, Dogecoin, XRP Also Extend Gains: Analytics Firm Says BTC Rally To $130,000 'Appears Realistic'

TLDR Solana broke above $180 with analysts targeting $245-$252 resistance zone 17 treasury firms now hold 17.1 million SOL, representing nearly 3% of total supply Galaxy Digital purchased additional 1.2 million SOL tokens, bringing holdings to 6.5 million Wrapped Bitcoin supply on Solana network reached all-time highs 85% of new crypto tokens (85 million out [...] The post Solana (SOL) Price: Institutions Drive Buying Spree as SOL Eyes $300 Target appeared first on CoinCentral.

New York Senator proposes excise tax on crypto mining energy use, aiming to curb emissions, support households, and reshape the mining industry. New York has reignited debate on crypto mining after State Senator Liz Krueger introduced a bill to impose excise taxes on energy used by mining companies. The proposal, announced Wednesday, reflects increasing state-level […] The post New York Senator Proposes Excise Tax on Crypto Mining Energy Use appeared first on Live Bitcoin News.

The post Big U.S. banks cut prime rate to 7.25% after Fed’s interest rate cut appeared on BitcoinEthereumNews.com. Big U.S. banks have lowered their prime lending rate to 7.25%, down from 7.50%, after the Federal Reserve announced a 25 basis point rate cut on Wednesday, the first adjustment since December. The change directly affects consumer and business loans across the country. According to Reuters, JPMorgan Chase, Citigroup, Wells Fargo, and Bank of America all implemented the new rate immediately following the Fed’s announcement. The prime rate is what banks charge their most trusted borrowers, usually large companies. But it’s also the base for what everyone else pays; mortgages, small business loans, credit cards, and personal loans. With this cut, borrowing gets slightly cheaper across the board. Inflation still isn’t under control. It’s above the 2% goal, and the impact of President Donald Trump’s tariffs remains uncertain. Fed reacts to rising unemployment concerns Richard Flynn, managing director at Charles Schwab UK, said jobless claims are at their highest in almost four years, despite the Fed originally planning to keep rates unchanged through the summer. “Although the summer began with expectations of holding rates steady, the labor market has shown more signs of weakness than anticipated,” Flynn said. Hiring has slowed because of uncertainty around Trump’s trade policy. Companies are hesitating to add staff, which is why job growth has nearly stalled. As fewer people are hired, spending starts to shrink. And that’s when things start to unravel. That’s what the Fed is trying to get ahead of with this rate cut. The cut also helps banks directly. Lower rates mean more people may qualify for loans again. During the previous rate hikes, lending standards got tighter. Now, with cheaper credit, smaller businesses could get approved again. If well-funded businesses feel confident, they may hire again. That could eventually help the consumer side of the economy bounce back, but that’s…