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Adrian Zduńczyk, a certified market analyst, forecasts that Bitcoin price might undergo two more 20% to 30% dips before BTC hits a peak of $225,000 in this bull run. This outlook suggests that the recent crash was normal and that the uptrend will continue. 

Expert Hints Bitcoin Price to Hit $225K After Two More Crashes

While the recent drop caused billions in positions to be liquidated, Saturday has seen Bitcoin price recover 7% from the December 20 swing low of $92,230. BTC currently trades at $98,859, showing strength after a brutal crypto market crash. Popular and certified analyst Adrian Zduńczyk posted to X stating that 80% of Bitcoin’s bull run is now behind us. Regarding the recent crash, Zduńczyk notes that two more 20% to 30% crashes might occur before Bitcoin price hits $225,000, an all-time high for the ongoing bull cycle.

He paints a bullish picture for the remaining 20% of the bull run, saying, “Real altseason will happen after BTC top.” The expert warns investors to “realize gains” before 2025 ends.

Bitcoin Technical Analysis: What BTC Needs To Resume Uptrend

Bitcoin price crashed 15% from its ATH of $108,41.6 and now trades at $98K. Using the Volume Profile indicator between November 11 and December 11 shows that 68% of the volume is concentrated between the value area high (VAH) at $100,000 and the value area low (VAL) at $90,915. Interestingly, the recent drop has brought BTC back into the 68% volume profile range.

For a bullish Bitcoin price prediction, BTC bulls need to overcome two key barriers. The VAH at $100K is the first hurdle, followed by the daily imbalance, which extends from $102.7K to $105.3K.

On the other hand, if Bitcoin bears are still in control, then the ongoing recovery could face rejection at $100K or the aforementioned daily imbalance, stretching from 102.7K to $105.3K. In such a case, Bitcoin price could continue its descent and retest the range low or VAL at $90,915. 

The post Expert Warns of Two More Crashes Before Bitcoin Price Peaks at $225K appeared first on CoinGape.

21 Dec 2024, 3:15 am

As the year comes to an end, the XRP price has shown signs of recovery after a week of bearish market. Reports suggest Donald Trump’s fund is purchasing XRP, sparking speculation about its impact on the token’s value. In this article, we’ll explore the XRP price prediction and what it means for investors.

XRP Price Prediction As Trump Buys XRP

XRP price is recently still hovering above $2.3, with the bullish trend seems to be getting back. After a slight decrease in the past week, the XRP price is seeing a slight recovery, and the BTC priceis hovering around $99k, fueling the optimism. As of Saturday, the Ripple price is trading at $2.35, marking a recovery of 5% within the last 24 hours. Ripple Pirce has experienced notable volatility during the day, with a recorded low of $1.97 which is acting as a strong support level and a high of $2.37.

A renowned hedge fund manager, Scott Melker, has confirmed that former President Donald Trump is actively acquiring XRP and HBAR tokens. This aligns with earlier claims from a source close to Trump’s transition team, hinting at a national cryptocurrency reserve.

“What Trump is doing is buying a bunch of crypto Bitcoin, XRP and HBAR for the U.S. under his entity”.

Impact of Trump’s Fund on XRP

XRP Technical Analysis

Top altcoins holds steady as bulls maintain control, defending the $2.05–$2.20 support level. This critical area has consistently attracted buyers, reinforcing positive market sentiment. Crypto expert suggest a break above $2.60 could trigger further upside momentum. XRP remains poised for growth, with $3.00 as the next psychological target.

Another Crypto analyst recently shared an X post highlighting a comparison between XRP’s 2017 and 2024 price trends. The chart shared in the post suggests XRP could mimic its previous bull run, potentially reaching $8–$13. The analysis shows historical patterns aligning with current market behavior, fueling excitement among XRP holders. 

The XRP price shows a recovery signals and renewed market optimism, amplified by reports of Trump’s fund buying the token. With bullish trends and historical patterns aligning, investors anticipate potential long-term gains for Ripple.

The post XRP Price Prediction As Hedge Manager Says Donald Trump’s Fund is Buying XRP appeared first on CoinGape.

21 Dec 2024, 2:39 am

As the holiday season quickly nears, numerous crypto fans are searching for the ideal gift to give their loved ones—something that might offer lasting value and substantial returns. This holiday season, how about gifting cryptocurrency? With the market displaying bullish momentum, cryptocurrencies to consider buying such as Bitcoin (BTC), Minotaurus (MTAUR), Ethereum (ETH), Shiba Inu (SHIB), and XRP are poised for significant increases in 2025.

Best Cryptocurrencies to Buy Right Now as Christmas Gifts for 2X Gains in 2025

Here’s a breakdown of why these five cryptocurrencies are excellent gift options to buy right now for double gains in the coming year.

1. Bitcoin (BTC): The Dominant Cryptocurrency to Buy

Bitcoin persists in leading the market with its strong performance and extensive acceptance. Recently, Bitcoin price surged past $97K, trading at $98,412, after increasing in value by 1%. According to analysts, increasing market demand and institutional interest could drive BTC to new all-time highs in 2025.

Key reasons to gift Bitcoin:

• Investment potential: With a limited supply of 21 million and increasing recognition as a store of value, BTC represents a solid long-term investment opportunity.
• Market developments: The SEC’s recent approval of Bitcoin ETFs from Hashdex and Franklin Templeton, has improved investor access.
• Strategic suggestions: Michael Saylor’s initiative for a U.S. Strategic Bitcoin Reserve has ignited conversations about BTC’s function in national financial plans, enhancing its credibility even more.

Given its price trend, Bitcoin serves as the perfect cryptocurrency to buy right now as a present for anyone wanting to gain from long-term growth.

2. Minotaurus (MTAUR): A Gaming Revolution in the Making

Minotaurus (MTAUR) is an emerging token designed for advanced gaming functionalities within its ecosystem. The token’s ongoing presale offers an opportunity to for buyers who prefer early-stage cryptocurrencies, with the current price of 0.00006001 USDT . This value represents a 70% reduction from its listing price.

Key highlights:

• Gaming ecosystem: Minotaurus supports a growing casual gaming sector, appealing to gamers and buyers alike.
• Incentives: Participants can enjoy referral-driven incentives and security guarantees through SolidProof and Coinsult audits.
• Presale benefits: The 100,000 USDT giveaway adds a layer of excitement and incentives for early adopters

Minotaurus merges utility and potential growth, creating an exciting crypto Christmas gift for gamers and cryptocurrency buyers.

3. Ethereum (ETH): The Foundation of Decentralized Finance

After recently witnessing massive buying from whales, Ethereum price has increased by nearly 5% to $3,462.93. With a market capitalization of $422.83 billion, its price rise indicates favorable market sentiment, as significant institutional investors such as Fidelity and Grayscale persist in acquiring ETH.

Why Ethereum is a top cryptocurrency to buy right now as a crypto gift:

• Institutional interest: With $28 million in ETF inflows recently, Ethereum remains a favorite among large investors.
• Technological advances: Deutsche Bank embrace of zero-knowledge-proof technology and Mantle Network’s use of Layer 2 solutions such as Zero-Knowledge Rollups improve Ethereum’s scalability and security.
• DeFi expansion: Ethereum’s involvement in decentralized finance keeps increasing, reinforcing its status as a fundamental asset.

The long-term potential of ETH renders it a worthwhile and useful gift for anyone keen on the future of blockchain technology.

4. XRP: Revolutionizing Cross-Border Transactions

XRP, the primary token of Ripple, has been experiencing an upward trend, and is presently valued at $2.35, with a market capitalization of around $134.63 billion. Its effectiveness in international payments and recent advancements render it an attractive choice, as one of the best cryptocurrencies to buy right now.

What makes XRP stand out:

• Strategic alliances: The launch of Ripple RLUSD Stablecoin, has enhanced its cross-border payment functionalities.
• Regulatory progress: Favorable updates in Ripple’s SEC lawsuit have enhanced investor trust.
• Market impact: The launch of the RLUSD stablecoin resulted in a 12% increase in XRP value showcasing robust market backing.

Giving XRP as a gift this Christmas might be a wise decision, particularly for those intrigued by the convergence of blockchain technology and finance.

5. Shiba Inu (SHIB): From Meme to Utility

Although Shiba Inu was launched as a mere memecoin, it has transformed into one of the best cryptocurrencies to buy right now, with a strong ecosystem. As the market recovers, SHIB rebounded by nearly 7% increase over the past day, to trade at $0.00002379. This price performance indicates increased interest by investors.

Why Shiba Inu is a unique gift:

• Technological advancements: Shibarium, its Layer-2 blockchain, enhances interoperability and efficiency through partnerships like Chainlink.
• Ecosystem expansion: The integration of fully homomorphic encryption (FHE) and the development of TREAT as a utility token highlight its focus on innovation.
• Community support: Shiba Inu’s dedicated community and expanding DeFi initiatives position it as more than just a speculative asset.

Shiba Inu provides a mix of cost-effectiveness and opportunity, making it a considerate present for both cryptocurrency beginners and experienced fans.

Of course it is! And $OGAI using FHE is just ONE use case of FHE. But $TREAT actually has many more uses outside just FHE and we have many more pieces of tech too. Shall we discuss this? #36chambers $Treat #SHIBARMY #ENDGAME https://t.co/mVcRqs6ff5

— Shytoshi Kusama (@ShytoshiKusama) December 17, 2024

Final Thoughts Why Crypto Gifts Are Perfect for the Holidays

Gifting cryptocurrency not only familiarizes recipients with digital assets but also enables them to possibly gain from market growth. With Bitcoin, Ethereum, XRP, Minotaurus, and Shiba Inu demonstrating best cryptocurrencies to buy right now with their bullish trends, they might become worthwhile investments by 2025. This Christmas, consider giving the gift of financial opportunity with these carefully selected cryptocurrencies.

The post 5 Cryptocurrencies to Buy Right Now as Christmas Gifts for 2X Gains in 2025 appeared first on CoinGape.

21 Dec 2024, 2:04 am

Tether CEO Paolo Ardoino has disclosed big plans for the company as the stablecoin issuer is on the path to achieving a $10 billion profit in 2024. Amid a strong surge in Bitcoin and the broader crypto market, the demand for its native stablecoin USDT has skyrocketed with its market cap soaring more than 50% to $140 billion. Furthermore, Ardoino also spoke about launching the company’s won artificial intelligence (AI) platform.

Tether Plans Huge Investment in 2025 With AI Push

USDT stablecoin issuer Tether has witnessed strong growth this year and is on the way to achieving $10 billion in profits. A significant portion of its revenue comes by investing the reserves that back its stablecoins, including USDT, into assets such as US Treasuries, gold, and other securities. As a result, the firm continues to maintain massive dominance as the stablecoin market hits over $200 billion.

Ardoino said that this year the company has invested more than half of its profits. On Friday, Tether announced a $775 million investment in the video-sharing platform Rumble. This includes a primary cash commitment of $250 million, along with support for Rumble’s tender offer to acquire up to 70 million shares at $7.50 per share.

The announcement came after the US market closure but was enough to send the Rumble stock soaring 50% in after-hours thereby shooting to $11. Speaking on the current developments, Paolo Ardoino stated:

“Next year we plan to deploy at least half of the profits in investments” including in AI. “Our investment is just at the beginning.”

Furthermore, the firm is also planning to pivot into the world of Artificial Intelligence (AI) by launching its own AI platform. Ardoino announced that the Tether AI platform will go live in Q1 2025 enabling users to interact with artificial intelligence directly through their mobile phones.

Eyeing Major Growth in the Donald Trump Era

Tether is looking to expand its footprint in the US market while expecting crypto-friendly regulations under President-elect Donald Trump’s administration. Howard Lutnick, nominated by Donald Trump as Commerce Secretary, is the CEO of Cantor Fitzgerald, a firm that holds a stake in Tether and manages the reserves backing the stablecoin issuer.

On the other hand, with MiCA crypto regulations kicking into the European Union by the year-end, several local crypto exchanges have started delisting USDT stablecoin. However, analysts believe the exit could mean a disadvantage over the Americas where crypto adoption is on the rise.

The post Tether Plans $5 Billion Investment With AI Platform Launch in 2025 appeared first on CoinGape.

21 Dec 2024, 1:32 am

The US Spot Bitcoin ETF has ended its 16-day inflow streak this week, as the crypto market recorded a massive pullback. Amid this, BlackRock Bitcoin ETF (IBIT) recorded its highest outflow since launch, sparking concerns among investors. Simultaneously, Fidelity’s FBTC also witnessed the largest decline earlier this week, which reflected the waning risk-bet appetite of the investors.

BlackRock Bitcoin ETF Records Largest Outflow Ever

The recent crypto market crash has weighed on the investors’ sentiment, as evidenced by the significant pullback in digital assets. Amid the recent Bitcoin crash, the US Spot Bitcoin ETFs also recorded outflow this week, ending their 16-day inflow streak on December 18.

BlackRock Bitcoin ETF (IBIT) has recorded its highest outflow of $72.7 million on Friday, December 20, Farside Investors data showed. This comes a day after Fidelity’s FBTC recorded an outflux of $208.5 million, its largest outflow ever since the investment instruments were launched in the US on January 2024. The overall outflow of the US Spot BTC ETF was $671.9 million and $277 million on December 19 and December 20, respectively.

Meanwhile, Bitcoin has recorded a robust rally this year, especially after Donald Trump’s election win in November. It touched a new all-time high of $108K earlier this month, amid soaring optimism toward the US Bitcoin Strategic Reserve. On the other hand, other global leaders like the Europe also hinted towards a similar move ahead.

Simultaneously, corporations have also increased their focus on the investment instrument. For context, MicroStrategy has continued its BTC buying strategy, reflecting its growing confidence in the asset. Besides, Bitcoin miners like MARA, Hut 8, and others also accumulated massive BTC. Despite that, these recent outflows from BlackRock Bitcoin ETF and others appeared to have weighed on the investors’ sentiment.

What’s Next For BTC?

The recent outflow recorded in BlackRock Bitcoin ETF and others has fueled speculations over what lies ahead for the investment instrument. In addition, it also indicates that institutional interest could be waning in the digital assets space.

However, it appears that the recent selloff was primarily due to the US Fed’s recent hawkish remarks with their rate-cut plans ahead. For context, the US Fed has announced another 25 bps rate cut this month while hinting towards a hawkish move ahead with their rate cut plans.

Considering that, the broader financial sector has declined, let alone the crypto market. However, despite the short-term pullback, experts remained confident about the long-term trajectory of Bitcoin as well as the US spot Bitcoin ETF.

Bitcoin price today surged nearly 5% and exchange hands at $98,431, after touching a low of $92,175 in the last 24 hours. However, despite the surge, CoinGlass data showed Bitcoin Futures Open Interest stayed near the flatline, indicating that the investors are yet to enter the market at a full pace.

The post Breaking: BlackRock Bitcoin ETF Records Largest Outflow Since Launch appeared first on CoinGape.

21 Dec 2024, 1:16 am

AI chatbot Truth Terminal’s Fartcoin holding has surged by an incredible 62,400%, turning an initial $40k investment into an astonishing $25 million. Despite this meteoric rise, Fartcoin price has faced a 22% drop over the past 24 hours. The token is firmly establishing itself as a top-performing Solana-based token.

Truth Terminal’s Meteoric Rise: Insights from Arkham Intelligence

Arkham Intelligence has provided key insights into Truth Terminal’s rapid rise in the crypto space. As the leading blockchain analytics platform, Arkham confirmed largest asset is now Fartcoin, which has experienced extraordinary growth.

As per their data, the AI chatbot platform now holds more than $40 million in AI tokens, with FARTCOIN accounting for the major share of this impressive valuation. The analytics platform’s insights further solidify the token’s standing as a high-performing asset within the crypto ecosystem.

Truth Terminal had not purchased the token at market value but received it, for just $40k. After that, it has surged by an astronomical 62,400%, transforming Truth Terminal’s modest stake into a $25 million. This phenomenal rise demonstrates not only the value of AI-driven trading systems but also highlights the potential for exceptional returns when integrated with emerging assets like FARTCOIN. The rapid growth of the token showcases its increasing utility and adoption within the crypto market, which continues to captivate traders and investors alike.

The recent Binance Futures listing has further fueled its meteoric rise. The platform launched USD-margined perpetual contracts with 75x leverage, which has sparked heightened demand for the token and other Solana-based assets.

FARTCOIN Price Performance and Market Activity

FARTCOIN price witnessing profit booking after a recent massive rally. The token 24 hours ago underwent a 22% plummet, with a 24-hour low and high of $0.87 and $1.272 respectively. This price movement reflects the inherent volatility in the market but does not overshadow its strong performance overall.

With a market cap of $873 million, the token continues to maintain a solid presence within the crypto space, further solidified by Truth Terminal’s substantial holdings.

FARTCOIN price last month rallied up to 150%, and its quarterly performance was even better by rallying up to 1,300%. Such rallies indicate possible future improvements for the token as the majority of the analysts foresee the growth continuing.

The post Truth Terminal’s Fartcoin Soars 62,400%, Hits $25M Holdings appeared first on CoinGape.

21 Dec 2024, 12:19 am

Although the Hyperliquid token entered the market merely a few weeks ago, it is now one of the top 20 cryptos after Polkadot, having hit a $10B market capitalization. With an impressive HYPE price rally over the week, the token has entered its prime, and here is why.

HYPE Price Hit ATH After 63% Rally

Beating the crypto market crash’s odds, the HYPE token is constant on the bullish move. Over the week, the Hyperliquid price has increased 63%, pushing the token to an ATH of $34.71. More importantly, its market capitalization has hit the $10B mark, placing it right after the Polkadot in the top 20 cryptos.

The layer one blockchain, Hyperliquid, launched its native token, HYPE, just three weeks ago and has followed a bullish trajectory. As a result, the HYPE price has risen 977% since then, impressing the community. At present, the HYPE is under a minor consolidation, currently trading at $34.47 with a 50% increased trading volume of $655.01M

Notable, the token is still missing listings on the top crypto exchanges like Binance and others, but the current surge has increased the possibility of that.

Hyperliquid’s Buyback Mechanism Fueling The Price

Hyperliquid has implemented many unique feature that investors highly appreciate. The L-1 blockchain network has introduced a fee-to-buyback mechanism, which utilizes the 100% fees of the trades to purchase tokens. This buyback eventually creates buying pressure on the token, pumping the price. Interestingly, the firm utilizes every $10K revenue to buy back HYPE tokens, per a crypto analyst, who further revealed that the blockchain had recently spent $3M to buy more Hyperliqud token, resulting in the current HYPE price rally.

Additional reports reveal that the firm has completed $16B in notional perpetual volume, which is almost 30% of the volume of Binance. With this, many users have called Hyperliquid ‘the decentralized Binance,’ where its lower perpetual fees and many other factors constantly increase demand. Interestingly, a few traders have begun urging other blockchain networks to follow similar features, especially Ethereum, as the ETH price is struggling on the charts.

HYPE Airdrop Success Favored the HYPE Price Rally

HYPE airdrop has become one of the biggest crypto airdrops in 2024 after distributing 270M HYPE among 94,000 users per ASXN data. The airdrop went live in late November and significantly pumped the token price during the launch. With that, the HYPE token surged 125% within a day. Analysts have called this a perfect marketing tactic, as they kept airdropped to limited people (94,000 only) compared to its competitor. On average, eligible users received 2881 HYPE, but a few more enormous whales have received as high as 508,985 tokens, worth $16M per current price.

What’s In There For You?

After a massive crash earlier, top altcoins began showing momentum today. However, the Hyperliquid token is way ahead of others, with a 63% surge over the week and HYPE price ATH at $34.71 after the firm spent $3M on buying back the HYPE token. The layer1 blockchain network has implemented quite a few interesting features, like the fee-to-buyback mechanism, which is constantly building the buying pressure of the token, eventually pushing the price. Moreover, the demand will likely grow with its low trading fees on perpetual contracts and constant development, further fueling its price rally.

The post Hyperliquid Joins Top 20 Crypto As Market Cap Hits $10B: Why HYPE Price Is Up 63% In a Week? appeared first on CoinGape.

21 Dec 2024, 12:11 am

XRP News: The Ripple whales have continued to bag more coins amid the recent market crash, indicating a bullish momentum ahead of the crypto. Besides, the recent performance of XRP, as well as the broader crypto market, also signals that investors are once again entering the market after a recent pause. Simultaneously, the recent Ripple developments also indicate that the momentum remains strong for the future trajectory of the coin.

XRP News: Ripple Whales Bag 80M Coins Amid Market Crash

In the latest XRP news, Ripple whales have once again fueled speculations with their recent moves. According to reports, the whales have continued their buying spree as the broader crypto market crashed recently, giving investors a buy-the-dip opportunity. For context, Bitcoin and top altcoins have recorded sharp declines recently, which has created a buying opportunity at a dip for many investors.

Prominent crypto market analyst Ali Martinez highlighted the buying trend for XRP. He noted that the whales have accumulated 80 million coins since December 17, when the market started declining after a robust run over the past few days. In addition, other big transfers of the tokens have also fueled speculations in the digital assets space, especially amid the recent developments.

Meanwhile, Donald Trump’s election win has already fueled market optimism this year. In addition, crypto has been crucial this year, with Trump pledging to make the US the crypto capital. This has also triggered speculations over a potential rally ahead for the crypto issued by US-based firms.

Additionally, the blockchain firm also reportedly made a significant contribution to Donald Trump’s inauguration recently alongside other crypto firms. According to a FOX Business report, Ripple is reportedly planning to donate $5 million to the fund, with Coinbase and Kraken giving $1 million each. This has further fueled sentiments over a pro-crypto regulatory environment in the US after Trump’s inauguration on January 20.

What Lies Ahead For Ripple?

The recent launch of Ripple stablecoin RLUSD has already fueled optimism, and this XRP news is expected to continue to support the bullish momentum ahead. Market experts said the new stablecoin would help in increasing liquidity through XRPL, which in turn would improve its native crypto’s appeal as a bridge asset for cross-border payments.

Notably, XRP price today jumped more than 4% and exchanged hands at $2.36, while its trading volume soared 27% to $26.34 billion. Notably, the crypto has declined below the $2 mark in the last 24 hours, indicating that investors are regaining confidence in the asset. However, despite the recent surge, its Futures Open Interest was down more than 30% during writing, CoinGlass data showed.

In addition, in a separate post recently, Ali Martinez said that Ripple’s native crypto might face heavy liquidation of $20.50 million in short positions if it hits $2.62. Despite these short-term pullback concerns, experts remained confident about the long-term trajectory of the coin towards the $3 mark ahead.

The post XRP News: Ripple Whales’ Massive Buying Hints At Rally To $3 appeared first on CoinGape.

20 Dec 2024, 11:19 pm

Donald Trump’s White House ‘AI and crypto czar’ David Sacks has refuted a legacy media report that his role has changed. Sacks said he would spend 50% of his time in Washington D.C. guiding policy and 50% in Silicon Valley to stay connected with cutting-edge technological advancements, including artificial intelligence (AI) and cryptocurrencies.

‘AI & Crypto Czar’ David Sacks Refutes Forbes Report

David Sacks took to X on December 21 to clarify his role remains the same as he requested. The incoming AI and crypto czar said he will have a leadership role in establishing policies and regulations for technologies, such as AI and crypto.

Earlier today, Fortune reported that the AI and crypto czar role initially expected to be a cut-and-dry leadership role is set to be more of a general advisory position. The legacy media cited two people familiar with the inner workings of the Trump Vance transition team. The reason for scaling back the role was reported to be Sacks not divesting from his investment firm Craft Ventures.

“Not divesting, not taking a more formal government role, that makes it very complicated. Even if Trump and people in his administration usually see conflicts of interest as an afterthought, the situation with Sacks became an issue, even from a practical perspective.”

However, Sacks said, “This is total nonsense.” Also, he expects to spend 50% of his time in Washington D.C. directing policy. The remaining 50% in Silicon Valley staying on the cutting edge technological advancements, he added. This is in line with what David Sacks requested.

Sacks to Help Provide Crypto Clarity and More

The incoming AI & crypto czar has expressed insights on key topics including AI policy, crypto regulatory clarity, and concerns such as Operation Choke Point 2.0 and Ripple vs US SEC lawsuit.

David Sacks has rooted for end of Ripple vs SEC lawsuit. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty said Sacks will push President Trump’s crypto and AI pro-innovation plans forward.

He also said the allegations around Operation Choke Point 2.0 deserve probe. American regulators went after 5 US banks to debank the crypto industry.

The post Just-In: ‘AI & Crypto Czar’ David Sacks Clarifies Misinformation About His Role appeared first on CoinGape.

20 Dec 2024, 10:56 pm

Ethereum whales have turned active once again as the ETH price dipped all the way to $3,100 levels. The massive withdrawals from the crypto exchange Binance show that big players are confident of ETH’s future rally despite recent volatility. This sets the stage for a quick bounce back to $4,000, which has served as a strong resistance. Analysts believe that once ETH crossed $4,000, new all-time highs past $5,000 will come in no time.

Ethereum Whales Turn Active Buying the Dips

Following yesterday’s crypto market crash, there’s a brief recovery amid significant Ethereum (ETH) accumulation by whales amid the current ETH price dips. Blockchain analytics platform Lookonchain reported that ten newly created wallets collectively withdrew 17,698 ETH, valued at approximately $61.66 million, from Binance.

The activity by Ethereum whales underscores renewed interest from large investors, who appear to be capitalizing on the market’s recovery momentum. On the other hand, Donald Trump’s DeFi Project World Liberty Financial has continued its ETH buying spree, spending a total of 2.5 million USDC stablecoin to acquire an additional 759 ETH.

To date, World Liberty has purchased 9,587 ETH, valued at $35 million, with $3,651 as an average acquisition price per ETH. Despite market fluctuations, the entity has reduced its unrealized loss on ETH holdings to $3.4 million, reflecting a narrowing deficit as prices recover.

The good thing is that spot Ethereum ETFs have also seen inflows resuming on Friday, as institutional players jumped in to buy the dips.

ETH Price Bounce Back to $4,000 Soon?

On Friday, the ETH price touched a low of $3098 before bouncing back once again amid Ethereum whale accumulation. As of press time, the Ethereum price is trading at $3,480 levels with its daily trading volume above $61 billion. As per the Coinglass data, the 24-hour liquidations have soared to $170 million amid the current price volatility.

For now, the immediate resistance is $3,500 for Ethereum, crossing which it could bounce to $4,000. Crypto market analysts remain bullish despite this current turbulence in ETH. Market analyst Crypto Patel expects ETH price to surge to $8,000-$10,000 level. He wrote:

“I’m buying every $ETH dip, no matter how much it drops. Just holding strong and stacking up. Ethereum hasn’t hit its new all-time high yet, but it’s only a matter of time. Staying patient and ready for the rise! Still telling you my ETH Target is $8000-$10k”.

Another crypto analyst venturefounder noted that Ethereum is still on track to new all-time highs in 2025, supported by whale buying. The analyst compared the current four-year cycle (2021–2024) to the previous one (2016–2020), highlighting striking similarities. According to the analysis, Ethereum’s performance in the year following a Bitcoin halving—such as 2017 and 2021—has historically marked significant growth phases. Previously, venturefounder gave an ETH price target of over $15,000 by May 2025.

The post Ethereum Whales Buy the Dip Eyeing Quick ETH Price Rally to $4000 appeared first on CoinGape.

20 Dec 2024, 10:51 pm

Cryptocurrency prices today are on an upswing, with Bitcoin (BTC) climbing back above $98K after dipping to $92K. Leading altcoins like Ethereum (ETH) and XRP have also posted gains, signaling renewed optimism in the market

Hyperliquid (HYPE) and Virtual Protocol (VIRTUAL) emerged as top gainers. Hyperliquid’s price surge follows Bitget’s announcement of listing its token on their exchange, while Virtual Protocol’s increase is attributed to the launch of their GAME SDK.

The global crypto market has also risen, reaching $3.38 trillion, up by approximately 0.5% in the last 24 hours. Trading volume surged by 10%, hitting $301 billion, showcasing increased activity in the market.

Cryptocurrency Prices Today: BTC Above $97K, ETH, XRP, SOL Gain

Cryptocurrency prices today reflect a positive shift, with Bitcoin (BTC) trading above $98K and major altcoins like Ethereum (ETH), XRP, and Solana (SOL) posting gains. Meme coins, including Dogecoin and Shiba Inu, also showed signs of recovery after recent declines.

Bitcoin Price Today

Bitcoin (BTC) price was trading at $98,412, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high were $92,210 and $98,136, respectively. The market cap stood at $1.93 trillion, with a trading volume of $100 billion, while BTC’s market dominance was recorded at 56.83%.

According to SoSo Value, BTC ETFs experienced outflows of $204 million, marking the second consecutive day of outflows after a long period. Additionally, Ark & 21Shares reported outflows of $87 million, while Fidelity recorded $71 million in withdrawals.

Also, Michael Saylor unveiled a mechanism demonstrating how the U.S. could generate $81 trillion by establishing a Strategic Bitcoin Reserve. This proposal has sparked discussions on leveraging Bitcoin for national financial strategies.

Ethereum Price Today

Ethereum (ETH) price was trading at $3,466, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high were $3,099 and $3,497, respectively. Cryptocurrency prices today highlight ETH’s market cap at $417 billion, with a trading volume of $62 billion and a market dominance of 12.32%.

ETH ETFs saw an inflow of $28 million, with Fidelity purchasing $13 million worth of ETFs. Grayscale followed closely buying $15 million in ETFs. Moreover, Donald Trump’s World Liberty Financial has reportedly accumulated more ETH during the recent price dip. This development underscores growing institutional interest in Ethereum despite market volatility.

XRP Price Today

XRP price was trading at $2.31, reflecting a 0.5% increase in the last 24 hours. Its 24-hour low and high were $1.97 and $2.338, respectively. Cryptocurrency prices today show XRP’s market cap at $130 billion, with a trading volume of $26 billion. It remains the fourth-largest cryptocurrency by market cap, with a market dominance of 3.86%.

In other news, Ripple has pledged $5 million in its native XRP token to support President-elect Donald Trump’s inauguration. This move highlights Ripple’s strategic initiatives and its commitment to fostering global partnerships.

Solana Price Today

Solana (SOL) price was trading at $193, with a 24-hour low of $175 and a high of $197. Cryptocurrency prices today show SOL’s market cap at $92 billion and a trading volume of $9 billion in the last 24 hours. Meanwhile, crypto analytics platform Glassnode reported significant capital movement across Solana assets, indicating heightened investor activity and interest in the Solana ecosystem.

Meme Cryptocurrency Prices Today

Meme coins have also followed the trend of major altcoins, with Dogecoin (DOGE) up by 1%, trading at $0.32. Similarly, Shiba Inu (SHIB) was also up by approximately 1%, trading at $0.00002259. Other top meme coins like PEPE, BONK, and WIF saw increases ranging from 2% to 9% in the last 24 hours, as cryptocurrency prices today show positive momentum in the meme coin market.

Top Cryptocurrency Gainer Prices Today

Hyperliquid

Hyperliquid (HYPE) price surged by 35% in the last 24 hours, trading at $31.97. Its 24-hour low and high were $22.96 and $32.23, respectively. Cryptocurrency prices today highlight HYPE’s market cap at $8.69 billion, with a trading volume of $583 million.

Virtual Protocol

Virtual Protocol price also saw a 25% gain, trading at $2.734. Its 24-hour low and high were $2.03 and $2.842, respectively. The market cap stands at $2.73 billion.

Ethena

Ethena (ENA) price rose by 16%, trading at $1.16. Its 24-hour low and high were $0.85 and $1.224, respectively. In other news, Ethena Labs has partnered with Trump-backed WLFI to boost stablecoin liquidity and rewards by adding sUSDe as core collateral on Aave.

Top Cryptocurrency Loser Prices Today

Aptos (APT)

Aptos (APT) price became the top loser for today, falling by 13% in the last 24 hours. It was trading at $10.23, with a 24-hour low and high of $9.90 and $11.77, respectively. The price drop is attributed to the resignation of Mo Shaikh, the co-founder and CEO of Aptos Labs, which has caused concerns within the community.

Hedera

Hedera (HBAR) became the second worst performer for today, with a 4% price drop, trading at $0.2688. Its 24-hour low and high were $0.23 and $0.28, respectively, with a market cap of $10 billion. In other news, the Hedera Foundation has announced Charles Adkins as its new CEO, effective January 1, 2025.

Besides this, the hourly chart is showing a rebound in the crypto market after yesterday’s flash crash. Bitcoin (BTC) and major altcoins are showing positive momentum, indicating a recovery in cryptocurrency prices today.

The post Cryptocurrency Prices Today: Bitcoin Crosses $98K, HYPE Jumps 35%, VIRTUAL Rises 26% appeared first on CoinGape.

20 Dec 2024, 8:00 pm

The U.S. Securities and Exchange Commission (SEC) has charged Tai Mo Shan Limited, a subsidiary of Jump Crypto Holdings LLC, for misleading investors about the stability of Terra USD (UST), an algorithmic stablecoin created by Terraform Labs.

The SEC also accused Tai Mo Shan of unlawfully offering and selling LUNA, a cryptocurrency issued by Terraform, as unregistered securities.

Misleading Investors About Terra USD Peg Stability

The SEC alleged that Tai Mo Shan deceived investors by creating the impression that Terraform Labs’ algorithmic mechanism was maintaining the $1 peg of UST. When UST fell below its $1 value in May 2021, Tai Mo Shan entered an agreement with Terraform Labs to intervene in stabilizing the price. Under this agreement, Terraform incentivized Tai Mo Shan with discounted LUNA tokens to buy UST and attempt to restore its peg.

On May 19, 2021, Tai Mo Shan made substantial purchases of UST, totaling over $20 million, which temporarily stabilized the stablecoin’s price.

The SEC stated that these actions misled the market into believing that Terraform’s algorithm was maintaining the peg, while the stability was actually driven by Tai Mo Shan’s trades. This conduct was deemed negligent by the SEC, as investors were not informed about the reliance on external intervention to stabilize UST.

Role as a Statutory Underwriter for LUNA

The SEC’s findings revealed that Tai Mo Shan acted as a statutory underwriter for Terraform Labs by acquiring LUNA tokens with the intent to resell them on U.S.-based platforms.

From January 2021 to May 2022, Tai Mo Shan offered and sold these tokens as securities without proper registration, violating U.S. securities laws.

The SEC classified LUNA as a security, noting that Tai Mo Shan acquired the cryptocurrency from Terraform for distribution to the public. This activity further contributed to the SEC’s charges of unregistered securities offerings.

As part of the settlement, Tai Mo Shan agreed to pay $73.45 million in disgorgement, $12.91 million in prejudgment interest, and a $36.72 million civil penalty. These penalties aim to address the illegal gains obtained through misleading actions and unregistered transactions.

Tai Mo Shan neither admitted nor denied the findings of the SEC’s investigation. However, the company agreed to comply with a cease-and-desist order prohibiting future violations of federal securities laws.

US SEC’s Statement on Investor Protection

SEC Chair Gary Gensler emphasized the need for compliance in the crypto markets, stating, “Too many times in the crypto markets, we’ve seen investor losses due to fraud. Regardless of the labels, crypto market participants should comply with securities laws and not deceive the public. Otherwise, investors get hurt.”

The SEC also highlighted that Terraform Labs and its founder, Do Kwon, were found liable for fraud and unregistered securities offerings earlier in 2024. Terraform and Kwon agreed to pay $4.5 billion to compensate harmed investors, demonstrating the widespread fallout from the Terra ecosystem’s collapse.

This case marks another step in the SEC’s ongoing efforts to regulate the cryptocurrency industry and protect investors from deceptive practices.

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20 Dec 2024, 6:39 pm

Concerns surrounding MicroStrategy’s Bitcoin strategy and debt obligations have been labeled as exaggerated by Anthony Scaramucci, founder of SkyBridge Capital.

Speaking in an interview, Scaramucci dismissed the fears of a financial collapse tied to MicroStrategy’s substantial Bitcoin holdings and debt structure, explaining that only a prolonged and systemic Bitcoin crash spanning several years would destabilize the company.

Long-Term Debt Structure Shields MicroStrategy

MicroStrategy’s financial strategy has attracted attention due to its aggressive Bitcoin acquisitions, funded largely through convertible debt and equity sales. The company currently holds $46.02 billion worth of Bitcoin, with an unrealized profit of $18.9 billion.

Critics argue that Bitcoin price volatility could jeopardize MicroStrategy’s ability to service its debt, potentially leading to forced Bitcoin sales and market disruptions.

However, Anthony Scaramucci emphasized that MicroStrategy’s debt is structured for the long term, reducing the risk of immediate financial distress. “If you really study his balance sheet, he has long, long-term debt, and he has rolling long-term debt,” Scaramucci said, referring to Michael Saylor, MicroStrategy’s executive chairman. He added that a systemic Bitcoin crash would need to last six or seven years to pose a significant threat to the company’s financial stability.

Market Concerns About Bitcoin Price Volatility

MicroStrategy’s reliance on Bitcoin as a corporate asset has fueled skepticism among investors. The company’s shares have soared by over 400% this year, driven by Bitcoin’s record-breaking price surges.

However, Bitcoin price has recently retreated from its all-time high of $108,000, leading to renewed concerns about MicroStrategy’s exposure to market volatility.

Despite this, Anthony Scaramucci believes fears of forced Bitcoin sales are unfounded. “The narrative of him being forced to sell hundreds of thousands of tokens into the market, I think it’s a forced narrative,” he said. Scaramucci attributed this confidence to his Wall Street experience, adding that MicroStrategy’s debt structure is fundamentally different from situations like the 2008 collapse of Lehman Brothers.

MicroStrategy Temporary Halt to Bitcoin Purchases

Rumors have surfaced that MicroStrategy may pause Bitcoin acquisitions in January due to potential blackout restrictions on share or convertible debt issuance. Such blackout periods are common for publicly traded companies, often imposed around fiscal quarter closings to comply with insider trading regulations.

Speculation suggests that the restrictions could prevent Michael Saylor from issuing convertible debt to finance additional Bitcoin purchases. However, analysts believe the potential pause would have limited impact, given the company’s substantial existing Bitcoin holdings and its history of regulatory compliance.

MicroStrategy’s next earnings report is expected between February 3 and 5, 2025, with analysts predicting that any blackout period would span January or begin mid-month. The company’s inclusion in the NASDAQ 100 index on December 23 has also raised theories that internal recommendations may have prompted this move.

Bitcoin Outlook Remains Positive

While Bitcoin’s recent price retreat has sparked concerns, Anthony Scaramucci remains optimistic about the cryptocurrency’s long-term potential. He acknowledged that Bitcoin could experience corrections of 30% to 40% next year, possibly dropping to $60,000–$70,000.

However, he highlighted factors such as the introduction of Bitcoin exchange-traded funds (ETFs) and potential favorable legislation that could support Bitcoin’s price stability.

“Could it get to $18 trillion dollars in market cap? We believe that it could,” Scaramucci said, while cautioning that the path to such a valuation would not be linear. He also noted that Bitcoin’s growing adoption and institutional interest could continue driving its appreciation over time.

The post MicroStrategy Debt Safe Unless Bitcoin Collapses for Seven Years: Scaramucci appeared first on CoinGape.

20 Dec 2024, 3:40 pm

Tether, the issuer of the world’s largest stablecoin, USDT, has announced a $775 million investment into Rumble, a video-sharing platform and cloud services provider. This strategic move has sent Rumble stock soaring by 50% in aftermarket trading. The investment, valuing Rumble shares at $7.50 each, will boost the platform’s financial stability and growth prospects.

Tether $775M Rumble Investment Sends Stock Soaring 50%

Following a recent press release, Tether revealed its decision to acquire 103,333,333 shares of Rumble’s Class A Common Stock at $7.50 per share. The $775 million transaction marks a strategic move into decentralized communications. News of the investment triggered a sharp 50% increase in Rumble stock price during aftermarket trading, reflecting investor optimism about the collaboration.

Rumble stock had been experiencing a downturn following Federal Reserve announcements on interest rates. However, the USDT issuer’s backing has restored market confidence, driving the share price upward. This highlights the growing ties between cryptocurrency initiatives and decentralized media platforms.

Chris Pavlovski, Rumble’s CEO expressed enthusiasm stating,

“This transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer. I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth.”

These developments come just weeks after the video-sharing platform announced its intention to allocate up to $20 million of its treasury to Bitcoin. The decision reflects Rumble’s focus on diversifying its cash reserves and leveraging Bitcoin as a hedge against inflation.

$250M Allocated For Growth, $525M For Share Buyback

In addition, the USDT issuer has earmarked $250 million from the investment to boost Rumble’s growth initiatives. These funds will expand the platform’s operational capabilities and strengthen its financial foundation, enabling it to compete in the video-sharing and cloud services markets.

The remaining $525 million will fund a self-tender offer for up to 70 million shares of Rumble’s Class A Common Stock. This buyback program, offered at the same $7.50 per share as Tether’s investment, provides liquidity for existing stockholders. Rumble’s CEO, Chris Pavlovski, will retain his controlling stake in the company, committing to tender no more than 10 million of his shares in the offer.

Additionally, the partnership reflects shared values of decentralization and free speech. Tether’s CEO, Paolo Ardoino, emphasized the alignment between Tether’s mission to promote financial freedom and Rumble’s dedication to providing an alternative to traditional media. 

Meanwhile, the move comes as Tether diversifies its portfolio, leveraging profits from USDT’s backing assets, which generated $2.5 billion in net profit during Q3 2024. With this investment, the USDT issuer continues its expansion into sectors such as AI, decentralized messaging, and now, video-sharing platforms.

Most recently, Paolo Ardoino revealed that Tether is targeting the end of Q1 2025 for the launch of its AI platform. While specific details remain limited, the platform is expected to integrate privacy-focused Peer-to-Peer AI Agents.

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20 Dec 2024, 3:38 pm

Cryptocurrency companies Ripple and Kraken have collectively pledged $6 million to support President-elect Donald Trump’s inauguration. Ripple is contributing $5 million in its native XRP token, while Kraken has donated $1 million to the Trump-Vance inaugural committee managing the celebrations.

Ripple and Kraken Pledge $6M For Donald Trump Inauguration

According to a report by FOX Business, Ripple and Kraken are among the cryptocurrency firms contributing to the record-breaking $200 million inaugural fund. The contributions aim to support the three-day celebration marking the swearing-in of Donald Trump and Vice President-elect J.D. Vance on January 20, 2025.

Ripple’s $5 million donation will be made in its native XRP token. This reflects the XRP company’s commitment to advancing its presence in the political landscape. Similarly, Kraken, a top crypto exchange, has contributed $1 million in support of the inaugural events. This marks the first time many crypto companies have participated in funding a presidential inauguration.

Additionally, President-elect Donald Trump has acted quickly to deliver on his campaign promises to support the cryptocurrency industry. Trump recently nominated Paul Atkins, known for his crypto-friendly stance, as the next chairman of the Securities and Exchange Commission (SEC).

Concurrently, David Sacks has been appointed as the first-ever crypto and AI czar, tasked with bridging the gap between the industry and regulators. Sacks will oversee policy initiatives and head the Presidential Council of Advisors for Science and Technology. 

Showcasing his crypto-friendly stance, the new crypto czar has already outlined plans to investigate Operation Choke Point 2.0 amid growing industry complaints. David Sacks has pledged to address the concerns highlighted by Coinbase’s release of FDIC “pause letters.” 

Tech and Crypto Leaders Join Record-Breaking Inaugural Fund

The Trump-Vance inaugural committee has already raised $200 million, surpassing all previous records. Major contributions from tech giants like Jeff Bezos, Mark Zuckerberg, and Vlad Tenev, alongside cryptocurrency leaders, underscore the broad support for the event. Each of these tech executives has pledged $1 million or more to the fund.

Stressing the importance of crypto industry support for the president-elect, Kraken co-CEO Arjun Sethi told FOX Business,

 “For the first time, we have a President who truly understands the potential of disruptive technology and embraces the crypto sector. We’re excited to continue to work with President-Elect Trump and his administration to push for long-overdue regulatory clarity and unlock this next wave of innovation.”

These developments come as the US appeals court reveals key dates for the Ripple case. The opening brief is scheduled for March 6, 2025, and XRP company’s answering brief is due by April 7, 2025. The court also set deadlines for the mediation questionnaire and appeal transcripts, marking significant steps in the long-running XRP lawsuit.

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20 Dec 2024, 3:02 pm

The Hedera Foundation has announced Charles Adkins as its new CEO, effective January 1, 2025. This leadership change aligns with a rebranding initiative to strengthen the foundation’s focus on decentralized finance (DeFi) adoption. Charles Adkins, previously President of Hedera Hashgraph, LLC, brings expertise from his roles at Polygon Labs and Aptos.

Hedera Foundation Unveils 2025 Strategy Led by New CEO Charles Adkins

In a recent blog post, the Hedera Foundation has outlined its strategic goals for 2025 under the leadership of Charles Adkins. A core component of this strategy is the launch of a transparent on-chain grant management platform in Q2 2025. This platform will enable the community to actively participate in funding decisions.

The foundation’s initiatives will simplify access to DeFi solutions, providing tools for secure and efficient management of digital assets. These efforts will empower users worldwide to engage confidently with the evolving financial landscape.

In addition, the Hedera Foundation plans to expand its efforts in key areas, including decentralized finance, tokenization, AI integration, and digital identity solutions. These initiatives will boost Hedera network adoption by creating scalable applications addressing real-world challenges.

By leveraging its enterprise-grade infrastructure, the foundation will support industries such as finance, healthcare, and public services. This includes developing tools to automate governance and ensure compliance with jurisdictional regulations.

Meanwhile, Bloomberg analysts predicted that the Hedera ETF could launch before the Solana and XRP ETFs. According to Eric Balchunas and James Seyffart, Litecoin, and Hedera ETFs are more likely to gain approval sooner due to fewer legal complexities. The analysts highlighted that Solana and XRP ETFs might face delays due to unresolved regulatory and legal issues,

HBAR Price Action and Ecosystem Growth

HBAR price reacted positively to the appointment of Charles Adkins as CEO of the Hedera Foundation. The price rebounded from an intraday low of $0.26 to the current level of $0.2658, marking a gain of approximately 2.2%. Trading volume surged by 10.20% to $2.14 billion, reflecting strong investor interest and confidence in Hedera’s future direction. 

Additionally, recent announcements, such as EQTY Lab’s Verifiable Compute solution, have positioned Hedera as a key player in AI governance and trust. This innovation, supported by collaborations with Intel and NVIDIA, integrates AI auditing directly into the Hedera network.

Consequently, analysts anticipate bullish momentum for Hedera price. Recent HBAR price predictions signal a potential rally to a new all-time high (ATH).

The post Hedera Foundation Appoints Charles Adkins as CEO, What’s Next? appeared first on CoinGape.

20 Dec 2024, 1:04 pm

Beyond ETF hype, Solana (SOL) is under the spotlight following a new report from crypto analytics platform Glassnode. Per the report, Glassnode highlighted the movement of capital across the Solana asset. Glassnode pointed out that since the cycle low in November 2022, the coin has outperformed both Bitcoin (BTC) and Ethereum (ETH).

Solana Rally Is Not Over

After dropping as low as $9.64 following the collapse of FTX Derivatives Exchange, SOL price made a comeback with 2,143% growth. The analytics firm hinted that of the past 727 trading day, SOL outperformed Bitcoin and Ethereum on 344. This proves the coin had a reasonably high demand since FTX’s collapse.

Beyond price action, SOL also overtook Ethereum as a top ecosystem for developers, complementing the overall boom.

The last two years have been remarkable for #Solana, recording a staggering price appreciation of +2,143%.

In this article, we utilize the new breakdown metrics for Solana to inspect and understand the underlying capital flows responsible for the dramatic ascent.

Discover more… pic.twitter.com/RP956L1u8R

— glassnode (@glassnode) December 20, 2024

As Glassnode revealed, this growth has forced the an influx of capital into the asset class. By percentage growth, SOL now have more growth in this metric than BTC and ETH across 389/727 trading days. Overall, the Proof-of-Stake (PoS) network has seen a net liquidity increase of $55 billion, setting it up for price appreciation.

Using the Hot Realized Cap metric for capital flow among new investors, Glassnode also revealed that the protocol is outpacing Ethereum. It noted that for the first time in history, the Solana Hot Realized Cap has flipped that of Ethereum.

In addition, Glassnode also employed the Net Realized Profit/Loss metric, a benchmark for on-chain capital flows.

As revealed by the analytics platform, the coin has maintained positive flow since at least September. Concluding, it pointed out that despite the recent slip that pushed SOL price down to $175.9, there is room for more growth.

Fundamentals Keep Driver Optimism – Solana ETF

One of the most important factors that drove the price of SOL this year was the explosion of memecoins. While this products focused on the retail aspect of the market, asset managers are now pushing for a SOL ETF product for institutional investors.

Canary Capital, Bitwise and 21Shares are among the firms pioneering this Solana ETF pursuit. Notably, there are reasons to believe that this product will get approval under the Donald Trump administration. Amid the shift in policy, the President-elect has nominated Paul Atkins, a pro-crypto regulator, as the next US SEC Chairman.

With Atkins and several industry lobby groups, more crypto ETFs including that tracking Solana are imminent. If achieved, SOL price may soar to $400 as projected in a previous price analysis.

 

The post Solana (SOL) Relative Capital Flow Hints Further Growth Ahead: Glassnode appeared first on CoinGape.

20 Dec 2024, 12:39 pm

Michael Saylor revealed for the first time an unprecedented mechanism for illustrating precisely how the United States government could create $81 trillion by creating a Strategic Bitcoin Reserve.

The proponent’s plan underlines a strategic digital asset policy aimed at strengthening the US dollar to neutralize national debt, place America as a leader of the 21st-century digital economy, empower a majority of businesses, drive unparalleled economic growth, and, therefore, create immense value.

Michael Saylor: $81 Trillion Possible with US Strategic Bitcoin Reserve

Michael Saylor has unveiled a groundbreaking strategy demonstrating how the United States government could generate $81 trillion by establishing a Strategic Bitcoin Reserve.

A key component of Saylor’s approach is the taxonomy in defining the classes of digital assets. This classification should provide much-needed clarity on what differentiates each class of asset from others.

A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy—empowering millions of businesses, driving growth, and creating trillions in value. https://t.co/7n7jQqPkf1

— Michael Saylor (@saylor) December 20, 2024

Digital commodities like Bitcoin, not issued by any person or organization and backed by digital power, differ from digital securities backed by equity, debt, or derivatives.

The framework includes digital currencies backed by fiat, utility digital tokens, non-fungible tokens representing unique assets, and asset-backed tokens tied to physical resources like gold or oil. These definitions will be fundamental in fostering innovation and moving the policy discussion forward.

Saylor stresses the need to actually create a framework of legitimacy, so much pushed forward by Senator Cynthia Lummis. The framework should, according to Michael Saylor, delineate the rights and responsibilities of all participants within the digital asset ecosystem. Issuers shall have the responsibility to create assets while ensuring fair disclosure and maintaining ethical conduct.

Exchanges shall have the right to custody, trade, and transfer assets in a manner that ensures transparency, protection of client interest, and avoidance of conflict of interest. Owners shall have the right to self-custody and to trade their assets but shall remain subject to local laws. This principle bases itself on the fact that no one should have the right to lie, steal, or cheat, and all players should be held responsible for their actions.

Streamlining Crypto Regulations to Unleash a Capital Markets Renaissance

The structure should implement effective, reasonable compliance measures that facilitate innovation rather than obstruct it, while ensuring standardized disclosures for each asset class to promote transparency and build confidence.

By allowing industry-led compliance, exchanges could take the lead in collecting and publishing data, significantly reducing issuance and maintenance costs. Michael Saylor argues that regulators should be taken out of the critical path to digital asset issuance to let exchanges facilitate smooth processes and reduce friction both for issuers and investors. These steps could dramatically improve the cost, speed, quality, and accessibility of digital assets.

Michael Saylor envisions a 21st-century capital markets renaissance driven by digital assets. This would let the issuance of digital assets go really fast and, instead of taking months, it would be able to be created in days.

The issuance-related costs could fall from tens of millions of dollars to as low as $10,000, thus opening up the capital markets to millions of businesses, artists, and entrepreneurs. Investors would have unprecedented access to tokenized commodities, real estate, and intellectual property, among other things, fostering broader participation in the digital economy.

Digital Assets as America’s Trillion-Dollar Opportunity

A strategic digital asset policy would position the US dollar as the global reserve digital currency. Digital currency markets would expand from $25 billion to $10 trillion, creating enormous demand for US Treasuries. Some even think that, in case of Strategic Bitcoin Reserve establishment, the currency would easily reach $500K.

Global digital capital markets could grow from $2 trillion to $280 trillion. All of this would happen with the US investor base capturing a large share. Michael Saylor believes leadership in digital assets, including Bitcoin, could push the market value to $590 trillion, cementing US dominance.

A Strategic Bitcoin Reserve could generate $16 trillion to $81 trillion for the US Treasury, helping offset national debt. This policy could unlock trillions for American companies and strengthen the US dollar as a cornerstone of the global digital financial system.

Michael Saylor’s vision aims to capitalize on the digital asset revolution.

 

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20 Dec 2024, 12:16 pm

XRP price has shown promising signs of a potential rally as 99,999,977 XRP, valued at $222,109,105, was transferred between two unknown wallets. This large-scale transaction has fueled speculation of increased whale activity, often seen as a precursor to significant market movements.

Currently trading at $2.1780, XRP is aiming for higher targets, with analysts pointing to a potential rise to $13 in the coming months.

XRP Whale Activity Sparks Bullish Momentum

The recent $222 million transfer of XRP has captured the attention of traders and analysts. Transactions of this scale often indicate strategic repositioning by large investors, commonly referred to as “whales.” These movements are usually associated with market shifts, either signaling accumulation ahead of a price surge or profit-taking before a downturn.

This move, moreover, follows a US appeals court reveal dates for opening brief and reply brief by Ripple and its CEO Brad Garlinghouse

Egrag Crypto, a market analyst, highlighted the importance of whale activity, noting that such movements can create ripple effects across the market.

“Large transactions like these demonstrate confidence among major holders and could lead to significant price shifts,” the analyst remarked.

Whale activity comes at a critical time as XRP’s price consolidates between $2.00 and $2.90, following a brief dip to $1.96. This consolidation has positioned XRP at a potential breakout point, with analysts suggesting an upward trend may be imminent.

Analysis Points to XRP Price Rally To $13

Technical analysis by seasoned analysts like Egrag Crypto reveals bullish prospects for XRP. On the 12-month timeframe, XRP’s yearly close above $1.99 is identified as a pivotal point, marking the highest closing level since 2017. This milestone could open the door for sustained growth in the asset’s value.

The analyst also emphasized that XRP’s current trajectory is steadier and less risky compared to the volatile cycles of 2017. The gradual incline of trend lines, measured at a 30-degree angle, reflects stable and controlled growth. Analysts believe this pattern could support XRP price climb toward its target of $13 in the months ahead.

Further supporting this outlook, the Relative Strength Index (RSI) on the quarterly chart indicates plenty of room for growth. With the RSI above 70 and heading toward 87, the asset shows strong momentum, suggesting further bullish price action.

Analysts Reassure Amid Temporary Price Dip

Despite XRP price recent drop of over 8% in the past 24 hours, experts remain optimistic about its long-term potential. Market strategist Egrag Crypto referred to the decline as “noise,” emphasizing that XRP is merely retesting its December 10 low before potentially bouncing back.

“Even a drop below $1.90 is not concerning,” the strategist noted, explaining that XRP could form a bullish double bottom on higher timeframes. Such a pattern could act as a springboard for the asset, pushing it toward new highs.

DonAlt, another market analyst, also weighed in, suggesting that XRP price is currently the best altcoin investment. While the broader market remains cautious, XRP’s potential for exponential growth has attracted attention, with projections ranging from $4.60 to an ambitious $35 over the long term.

The post XRP Price Eyes Rally To $13 As Whales Move $222M appeared first on CoinGape.

20 Dec 2024, 11:27 am

According to investor and analyst Lark Davis, Bitcoin’s current cycle and crypto bull run are far from being over. From RSI and NUPL to MVRV and Fibonacci retracement, several indicators have pointed to the fact that significant upside is still possible in this market.

Though short-term resistance at around $100,000 might test traders’ patience, Davis believes the eventual peak of Bitcoin would lie way above this level. With the market inching toward the next phase, traders and investors should be ready for a possible blow-off top in the upcoming months.

Crypto Bull Run Isn’t Over, Bitcoin’s Top Not Even Close, Says Lark Davis

The wider cryptocurrency market took a severe plunge in a post-December 18 Federal Open Market Committee (FOMC) meeting action but, according to analyst and investor Lark Davis, Bitcoin and the broader cryptocurrency market continue to display strong momentum, indicating that the crypto bull run is far from reaching its peak.

The US Federal Reserve cut its rates by 25 bps as expected but reflected fewer cuts in 2025 than earlier projections.

Bitcoin shed more than 5% and plunged below $94,000 before giving minimal signs of recovery. Other altcoins faced double-digit percentage losses across the board.

Investor and analyst Lark Davis highlighted that Bitcoin’s recent 13% dip, following a strong Q4 rally, resembles the market dynamics of December 2020.

If you're worried that this is the end of the bull market, know this:

In December 2020, $BTC dumped 12%, after witnessing a 77% rally in October-November.

It then went from $17,000 to $41,000 (a 136% move) in the next 23 days.

Something similar is happening right now, with… pic.twitter.com/lFPSy3JjTt

— Lark Davis (@TheCryptoLark) December 20, 2024

At that time, Bitcoin saw a 12% decline after a 77% surge in October and November, only to skyrocket from $17,000 to $41,000—a 136% gain—in just 23 days. While Davis cautions that another 10-15% correction is possible, he emphasizes that Bitcoin and the broader crypto market still have significant momentum, suggesting the crypto bull run is far from over.

 

In his newest podcast, Davis dispelled the idea that Bitcoin was going to top out at $100,000 and even threw out the idea that the current cycle is coming near its end.

Using numerous different technical indicators and historical patterns, Davis suggested that Bitcoin has a lot more momentum, which could bring up new all-time highs way past the psychological resistance level of $100,000.

RSI Suggests Room for Growth

Davis initiated his analysis by looking at Bitcoin’s monthly RSI. Historically, the top of Bitcoin’s cycle coincides with the RSI reaching or exceeding 90. For the 2017 and 2021 cycles, these peaks also coincided with euphoric market conditions and overall crypto bull run.

Currently, Bitcoin’s RSI stands at around 75-76, much lower than historical peak values. He said this alone could indicate that the market still has plenty of fuel in the tank. Comparing the current phase to earlier cycles, Davis noted that initial peaks were followed by higher price rallies, and Bitcoin could be set to do the same in the coming months.

The Net Unrealized Profit/Loss chart is supporting Davis’s bullish outlook. This metric categorizes market sentiment into zones like belief, euphoria, and greed. Presently, Bitcoin is in the “belief” zone, far from the “euphoria” zone associated with market tops.

In the same way, the MVRV Z-score is another reliable on-chain indicator that measures Bitcoin’s value as significantly undervalued compared to previous peaks. Davis forecasted crypto bull run, meaning this will rise to the levels from previous cycle highs and affirm that the market hasn’t peaked yet.

Fibonacci Levels and Psychological Resistance

Davis pointed out the 1.618 Fibonacci retracement level, which is a very important mark for the price action of Bitcoin. The recent resistance at the $100,000 level was right on this technical target, compounded by its psychological significance.

Even though there is no crypto bull run happening right now, Davis waved this off as just the first stop in Bitcoin’s upward journey. He explained that whales make it a point to put sell orders at round numbers like $100,000, and this creates temporary resistance, while the big trend remains upward.

The investor applied historical cycles and suggested that Bitcoin could peak in March or April 2024, possibly reaching $250,000 or even higher. He was basing his prediction on chart patterns, including the narrowing gap in the Pi Cycle Top Indicator.

With the highly unpredictable nature of markets, Davis warns traders to stay cautious while still optimistic, since the cycle is likely to extend into the latter half of 2024. At the time of writing, the price of Bitcoin was $96,924, down by 1.77%.

The post Top Analyst Explains Why The Crypto Bull Run Is Far From Over appeared first on CoinGape.

20 Dec 2024, 11:20 am