PDAXScope: BTC rebounds, ETH boost, PYUSD surges

Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure (CoinDesk)

Bitcoin bounced back to around US $93,000 after dropping to lower levels following the US Federal Reserve’s latest comments, as reported by CoinDesk. The report states that BTC recovered more quickly than the rest of the market, while many altcoins reportedly remained under pressure amid cautious sentiment. Analysts note that traders are still digesting the Fed’s mixed signals on inflation and the economy, keeping price movements uneven across the crypto market.

Tom Lee's BitMine Immersion Ramps Up Ether Acquisition, Adding $435M of ETH to Treasury (CoinDesk)

Blackstone founder Tom Lee’s Bitmine unit has been buying a lot of Ethereum (ETH) and now holds roughly US $435 million worth of the coin in its treasury, as reported by CoinDesk. The report states that this large accumulation of ETH comes as Bitmine strengthens its focus on building out crypto infrastructure and shows confidence in Ethereum’s long-term prospects.

PayPal's PYUSD Stablecoin Sees 224% Supply Surge in Circulation in Last 3 Months (Decrypt)

PayPal’s PYUSD stablecoin has seen its total amount in circulation grow by about 224% over the past three months, as reported by Decrypt. The surge in supply reportedly reflects increased usage and demand for the token, which is designed to hold a stable value tied to the U.S. dollar and make it easier for people to send and spend digital money. Analysts say this growth could signal growing interest in using stablecoins for payments and everyday crypto activity.

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