According to Messari’s most recent analysis, Solana (SOL) is primed for explosive expansion in 2025, fueled by major funding, technological improvements, and growing institutional interest. Related Reading: The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says The study indicates that in the third quarter of 2024 Solana’s ecosystem funding reached $173 million, the highest level since mid-2022. This money flow shows a strong conviction in Solana’s ability to be the top blockchain platform. Solana: Key Drivers Of Growth One of the key reasons for this positive prognosis is the upcoming introduction of a spot SOL Exchange-Traded Fund (ETF). As regulatory conditions improve, experts predict that institutional investors will flock to Solana, increasing its market position. We are so back! The Messari Theses for 2025 is live and available for free. Jump into the full report now ⬇️ pic.twitter.com/AzOZhiAib5 — Messari (@MessariCrypto) December 16, 2024 The introduction of a spot ETF might result in considerable financial inflows, placing Solana as a viable competitor to other cryptocurrencies such as Bitcoin and Ethereum. Moreover, ongoing improvements to Solana’s infrastructure are anticipated to augment its performance. Jump Trading’s Firedancer client pledges to enhance transaction velocities and network scalability. The preliminary implementation has commenced, with complete deployment anticipated in 2025. This enhancement will broaden client alternatives while bolstering network security by reducing dependence on a singular codebase. Institutional Interest And Market Sentiment Reflecting the increasing institutional interest in Solana, companies like VanEck and Bitwise have lately registered for a spot SOL ETF. This action points to Solana’s unique value proposition as a high-performance blockchain starting to be acknowledged by conventional finance. If this tendency keeps up, many predict SOL’s price would soar to new heights; some even project it may hit $4,000. Solana’s market attitude remains positive, particularly after it just went past the $220 price level. If the movement continues, analysts anticipate SOL will reach its previous all-time high of $263. The combination of increased capital, technological breakthroughs and institutional support fosters Solana’s expansion. Related Reading: New ATH: Bitcoin Tops $106K—Is FOMO And Strategic Reserve The Game-Changer? Looking Ahead: A Promising Future Looking ahead to 2025, Messari’s insights offer optimism for Solana’s growth. Favorable regulations, cutting-edge advancements like Firedancer, and rising institutional interest hint at transformative opportunities for the ecosystem. With these elements aligning, Solana could firmly establish itself as a dominant force in the digital currency landscape. At the time of writing, SOL was trading at $222.29, up 2.4% in the daily and weekly timeframes, data from Coingecko shows. Featured image from DALL-E, chart from TradingView
Dogecoin (DOGE) is expected to experience an 85% price increase, which could potentially elevate its value to approximately $0.75 by early 2025, according to analysts. Following a significant yearly peak of $0.47 last month, the cryptocurrency is currently trading in the $0.40 range. Related Reading: The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says This forecast is being issued at this time. Significant whale activity and bullish market sentiment have contributed to the enthusiasm surrounding Dogecoin, particularly in the wake of recent political events, such as Donald Trump’s re-election. Dogecoin: Present Market Conditions There are numerous factors that have contributed to the recent increase in the price of Dogecoin. The investment from large holders, or “whales,” has been substantial, with an estimated $160 million worth of DOGE purchased in the past 24 hours. This is particularly noteworthy. This accumulation indicates a high level of confidence in the asset’s future performance. Whales bought another 160 million #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/FLr6XL3rMi — Ali (@ali_charts) December 13, 2024 The rush to buy along with the ongoing excitement surrounding Dogecoin has been seen by experts as a possible cause for new highs as 2024 comes to a close. Even though there was a 4.30% drop in the last month, a lot of experts believe that this phase of stability will end with a big break. The way prices are moving now is a lot like how they were moving in 2021, when Dogecoin prices went through similar events that made them stable. Bullish Outlook Backed By Technical Indicators Based on Fibonacci retracement, Dogecoin could climb 85% from its current price level by January 2025. If this comes to fruition, this rally would lift the price of the memecoin to around $0.75, putting it within the coveted $1 mark. The RSI has recently entered overbought territory. This condition frequently precedes substantial price fluctuations, whether upward or downward; nevertheless, historical evidence indicates that such signals have resulted in favorable trends for the memecoin. Additionally, analysts have underscored the significance of critical resistance levels at $0.50 and its previous all-time high of $0.7376. If DOGE is able to surmount these levels, it may facilitate the attainment of the anticipated target of $0.75. Related Reading: 3-Year Peak: Chainlink Rally Fueled By Historic Open Interest Levels Looking Ahead Numerous members of the cryptocurrency community are anticipating the performance of Dogecoin as 2025 approaches. The potential for an 85% rally has sparked discussions regarding the possibility of DOGE eventually reaching the elusive $1 mark, a milestone that many investors have long anticipated. Dogecoin continues to be a central topic in discussions regarding the future of cryptocurrencies due to its growing interest from institutional investors and the support of a vibrant community. Featured image from DALL-E, chart from TradingView
Recently, a significant movement of 800 million XRP tokens from exchanges has caught the attention of the cryptocurrency community. This large-scale transfer could have substantial implications for XRP’s market dynamics. The move, facilitated by the NBTC, has sparked discussions about the potential for a bullish trend soon. Overview Of The XRP Movement The transfer of 800 million XRP tokens occurred over a short period, raising eyebrows among analysts and investors. The XRP was moved from several major exchanges to unknown wallets, suggesting a strategy to hold the tokens rather than trade them immediately. Such movements are often seen as bullish signals, indicating strong confidence in XRP’s future value. Related Reading: The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says NBTC, a prominent player in the crypto space, played a crucial role in this significant transfer. Their involvement has added credibility to the move, as NBTC is known for its strategic market decisions. This transfer has led to speculation about potential market manipulation, but it also highlights NBTC’s confidence in XRP’s long-term prospects. The movement of such a large amount of XRP could significantly impact the market. Historically, large transfers off exchanges have been associated with positive price movements, as they reduce the available supply for trading and indicate strong holding behaviour. Experts believe this could drive demand and increase XRP prices. The potential for a bull run is high following this transfer. Bullish indicators, such as reduced sell pressure and increased accumulation, point towards a positive trend. Historical data shows that similar large-scale movements have often preceded significant price rallies in the cryptocurrency market. Despite the bullish sentiment, there are bearish concerns that cannot be ignored. Market manipulation remains a risk, and the regulatory landscape for cryptocurrencies continues to evolve. These factors could introduce volatility and uncertainty, potentially dampening the bullish momentum. The lack of comprehensive regulatory frameworks and the inherent volatility of cryptocurrencies could pose significant challenges, making the market unpredictable. Related Reading: XRP Price Holds Steady: What’s Next After Consolidation? Investor Reactions The reaction from the crypto community has been mixed. While some investors view the move as a strong bullish signal, others are cautious, citing potential regulatory hurdles and market manipulation. Prominent figures in the crypto space have weighed in, with some expressing optimism about XRP’s future. This movement has generated a lot of buzzes, with discussions centering around the potential for a significant price rally. The immediate price response to the 800 million XRP movement was positive, with a noticeable uptick in XRP’s value. However, the long-term impact will depend on broader market conditions and regulatory developments. Investors closely watch how this transfer will play out in the evolving regulatory landscape and overall market sentiment. [XRP Price Chart] |Source (XRPUSD on TradingView.com ) In the short term, XRP’s price is expected to remain volatile but with an upward trend. This reduction in available trading supply could drive prices higher if demand continues to grow. While on the long term, this movement could strengthen XRP’s position in the cryptocurrency market. If regulatory challenges are addressed and market confidence remains high, XRP could see sustained growth and increased adoption.
A new altcoin, Hyperliquid (HYPE), is rapidly making waves in the cryptocurrency market, now ranking as the 28th largest cryptocurrency by market capitalization. This ascent has seen HYPE surpass established coins like Near Protocol (NEAR), with its value soaring by 204% in just two weeks, bringing its market capitalization to around $8.93 billion. Exploring The Hyperliquid Protocol Examining the altcoin’s offerings is essential to better understanding the increased attention it has garnered over the past week. HYPE is the native token of Hyperliquid, a Layer-1 (L1) blockchain that utilizes HyperBFT technology. This tool reportedly allows Hyperliquid to facilitate “fast, secure, and transparent transactions,” bridging the gap between centralized exchanges (CEXs) and decentralized exchanges (DEXs). Specifically, with the protocol’s ability to handle over 100,000 transactions per second and a latency of less than one second, Hyperliquid addresses the performance limitations commonly associated with other blockchains such as Solana (SOL) and Ethereum (ETH). Related Reading: Bitcoin Breaks ATH Pushing Back Into Price Discovery – BTC To $130K? HYPE’s tokenomics include a burn mechanism to control supply and support price stability, a common practice seen in tokens such as Shiba Inu (SHIB). A strict vesting schedule is also in place to balance liquidity and mitigate selling pressure. The token offers various utility options for investors, including trading fee discounts, staking opportunities, and governance participation. HYPE holders benefit from reduced trading fees, which can significantly boost profitability, while staking their tokens allows them to earn rewards or provide liquidity in trading pools. New Listings And HyperEVM Launch To Boost HYPE? Recent insights from crypto analyst Ericonomic have also highlighted several compelling reasons to remain bullish on HYPE despite any short term correction for the Layer-1 altcoin. The analyst notes that Hyperliquid has seen all-time high in Circle’s stablecoin USDC deposits, indicating strong demand, while auction prices have also reached unprecedented levels, with significant purchases made by notable entities like MON Protocol. The total amount of USDC held on Hyperliquid has surged, showcasing robust liquidity. Moreover, many savvy traders have invested millions in HYPE and are publicly supporting the token, suggesting confidence in its future potential. Retail investors have yet to enter the market significantly, as HYPE is not yet available on Tier 1 centralized exchanges, this could be a notable catalyst for its price in case of gathering significant attention by these traders for the HYPE price. Related Reading: XRP Price Targets $3.34 After Corrective Downtrend Within Descending Channel Ericonomic has further drawn comparisons between HYPE and Binance Coin (BNB), noting that HYPE holders enjoy a more equitable distribution of fees, as all fees generated are directed back to the Hyperliquid protocol. Additionally, the community anticipates several upcoming catalysts, including new listings in major crypto exchanges and the introduction of HyperEVM, which could significantly enhance the platform’s capabilities. At the time of writing, HYPE has consolidated at the $26.91 level following a retracement from its record peak of $42, which was reached on December 12. Despite this correction, the token still reflects substantial gains of over 105% on a weekly basis, accompanied by trading volumes of $342 million. Looking ahead, it remains to be seen whether there will be sufficient catalysts to support the token after its recent correction. Featured image from DALL-E, chart from TradingView.com
Crypto exchange Binance was hit with a cease and desist letter by Mark Longo, owner of the internet sensation Peanut the Squirrel, for alleged copyright infringement. PNUT, the popular memecoin inspired by the squirrel, saw a nearly 10% decrease following the news. Related Reading: Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum? Internet Squirrel Becomes Memecoin Sensation On Sunday, Mark Longo, owner of Peanut the Squirrel, announced that his legal team had initiated legal action against crypto exchange Binance. In an X post, Longo, also known as “Peanuts Dad,” accused the exchange of using his intellectual property without authorization. The rescued squirrel became an internet sensation after Longo’s online videos became viral, amassing over half a million followers on Instagram. However, Peanut was seized from Longo’s home alongside a rescued raccoon named Fred. Both animals were euthanized to be tested for rabies, as there are not any approved antemortem rabies testing methods for animals by the Centers for Disease Control and Prevention. Following the news, the public condemned Peanut’s death, with several lawmakers criticizing authorities’ actions. It also sparked a wave of Peanut-inspired memecoins, which resulted in the creation of Solana-based memecoin PNUT. Amid the controversy, the token quickly grew in popularity, hitting a $120 million market capitalization in less than a week. Binance announced the listing of the memecoin on November 11, opening spot trading that same day. After the news, PNUT’s price went on a massive rally, climbing to the top 10 memecoins by market cap. The token achieved the $1 billion milestone in less than a month, reaching a $2.27 billion market cap before retracing. For the past month, PNUT has held above the $1 billion mark, with the price hovering between the $1.80-$1.00 price range. Crypto Exchanges Hit With Cease And Desist Letter According to the letter shared by the animal rights activist, Binance allegedly infringed “the intellectual property rights owned by Mr. Longo.” His legal team argues that the exchange’s use of the copyrighted photograph of Peanut the Squirrel wearing a cowboy hat and the “identical” trademark of “PEANUT THE SQUIRREL and PNUT” in the listed memecoin infringes their client’s “various copyrights and trademarks.” The letter demanded that Binance respond to the letter by December 31st, 2024, to verify the exchange received the letter and “have ceased all infringing activity.” Moreover, Longo revealed in his post that this was the first of multiple cease and desist letters to be issued. PNUT faced a 10.2% dip after the news, falling from the $1.17 level to the $1.05 support in 24 hours. The retrace drove the token near its lowest levels in over a month, worrying investors about the memecoin’s performance. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ It’s worth noting that Longo has previously stated his discontent with the PNUT memecoin, accusing the crypto community of profiting from his late pet. As a protest, the animal rights activist launched a memecoin named Justice for Pnut and Fred (JUSTICE), which faced controversy over insider trading allegations. Longo also promoted another memecoin, Justice for Peanut (JFP), in his warning post, which saw a 159% increase after the publication before losing all its recent gains. At the time of writing, PNUT is trading at $1.10, a 5.1% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Raoul Pal, the former hedge fund manager who retired at the age of 36 and now serves as the co-founder of Real Vision, a prominent financial media company, has given an update on his crypto portfolio. In a post on X today, December 16, Pal unveiled his concentrated investment strategy, highlighting Dogecoin as a central component of his crypto portfolio. Raoul Pal Stills Bets Big On Dogecoin “I have concentrated bets. This is my watch list. I won’t be the best performer and I won’t be the worst. Outside of this I just scrape profits to buy NFT’s for the long haul,” Pal stated in his announcement. The accompanying screenshot detailed his watch list, which encompasses a range of cryptocurrencies including Bitcoin, Ethereum, Solana, Dogecoin, SUI, DeepBook Protocol, and Smoking Chicken Fish. When queried by a user about his thesis for Dogecoin, Pal responded, “It’s outperformed BTC by 500% since 2013… and Elon/X.” This statement underscores his confidence in Dogecoin’s long-term potential, especially because of the connection to Elon Musk. Musk has been hinting at integrating Dogecoin into the payments feature of X, though no official confirmation has yet been made. Recent activity and speculation have been fueled by a tweet from Musk featuring a new dollar icon on a user’s profile, which differs from the existing tipping feature on X. This has led to increased speculation that Dogecoin could be integrated into a forthcoming X Payments service. Related Reading: Bull Flag Formation Puts Dogecoin Price As High As $2.15 This Cycle Previously, Musk had expressed intentions to use Dogecoin for premium services on the platform, but initial documents related to X Payments did not include crypto in its launch phase. Nonetheless, Musk’s continued public support for Dogecoin and his comments favoring its integration have kept hopes alive within the Dogecoin community, one of the strongest catalysts for DOGE price. Another user engaged Pal in a discussion regarding Dogecoin’s future, stating, “I secured 100k DOGE thinking next year when they implement Department of Government Efficiency it will be constantly in the news circulation and may result in subconsciously influencing the market trend. What do you think?” To which Pal succinctly replied, “Just the start,” indicating his belief that the headline for Department of Governance Efficiency (DOGE) under the lead of Musk will have significant impact on Dogecoin in the upcoming months. When asked about his investment in the lesser-known altcoin DeepBook Protocol (DEEP), Pal explained, “As Sui volumes scale, so does DEEP. Pretty simple beta play and it’s still a low market cap,” highlighting his strategy of targeting emerging projects with growth potential tied to scalable blockchain solutions. In addition to his statements on X, Pal recently shared his broader investment philosophy in an interview with Mario Nawfal. He articulated his views on the cyclical nature of liquidity injection into markets, driven by governmental debt refinancing every four years. Pal elaborated: Related Reading: Dogecoin Price Slump Looms, Analyst Points To Only One Lifeline “Where are we in the four-year cycle? I break them down by seasons each year being a different season […] Bitcoin usually leads in spring and summer which is now and then Bitcoin dominance falls and ALT season starts in a couple of months […] This is just an annual sign when we go into the next fall or the Autumn cycle that’s usually the most explosive beginning of next year.” Pal further discussed the implications of these cycles on the crypto market, suggesting that current conditions are setting the stage for an “explosive” period in the upcoming cycle. He emphasized that the persistence of these cycles hinges on the continued injection and withdrawal of liquidity by governments, a dynamic he refers to as the “everything code.” Notably, Pal addressed the concept of a potential “super cycle” for Bitcoin and crypto markets, positing that such an occurrence is improbable unless there is a fundamental change in the underlying economic structures, specifically regarding global debt and demographics. “I don’t see how that happens, unless they break this everything code cycle of liquidity,” Pal remarked. At press time, DOGE traded at $0.39447. Featured image created with DALL.E, chart from TradingView.com
The crypto ecosystem is on the cusp of yet another significant week, ushered in by several major developments taking place across different networks. This week’s spotlight falls on Bitcoin, Fantom, Avalanche, Stacks, and LayerZero, each of which is facing a pivotal milestone. The broader macro backdrop is also critical, particularly the December 18 Federal Open Market Committee (FOMC) interest-rate decision in the United States. #1 Bitcoin And Crypto Await The FOMC Decision Bitcoin traders and investors are watching the Federal Reserve’s policy meeting scheduled for Wednesday, December 18, at 2:00 pm ET, with Fed Chair Jerome Powell’s press conference to follow at 2:30 pm ET. Saxo Bank writes in their latest investor note, “The Federal Reserve is widely expected to deliver a 25 basis-points (bps) rate cut this week, reducing the target range for the federal funds rate to 4.25-4.50%.” According to futures data, there is a 95% probability of this move, which follows a similar cut in November. While the rate cut is seemingly priced in, the market will scrutinize the Fed’s Summary of Economic Projections (SEP) and its “dot plot,” which depict the expected path of policy rates for 2025 and beyond. Any signal that the Federal Reserve could limit the pace of future cuts—particularly if it revises the dot plot from four rate cuts in 2025 down to three or even two—might weigh on risk-on assets such as Bitcoin and cryptocurrencies. Many analysts point to the labor market, which has been softening, and to easing shelter inflation, evidenced by slowing rental price growth, as key justifications for additional rate cuts. Related Reading: Crypto Market Hit Hard With $1.7 Billion Liquidated, Largest Event Since 2021 However, the Fed may convey a more cautious stance and highlight so-called “Trump-flation” risks, referencing the possibility of renewed trade tariffs under the incoming Trump administration that could push inflation higher. If such inflationary risks remain persistent, the Fed might pause or reduce the pace of cuts in 2025, which would be viewed as a hawkish twist. The new dot plot for 2025 is currently expected to show around 3.625%—a baseline assumption of three rate cuts next year—but the market has speculated that this could move to 3.875% if the Fed becomes more cautious. The immediate reaction in Bitcoin will likely hinge on the meeting’s tone, with a less dovish Fed potentially introducing volatility to BTC price action. #2 Fantom (FTM) Fantom is entering a new era with the upcoming Sonic L1 mainnet launch, a transformative upgrade that will dramatically improve network throughput and cost efficiency. Developers behind Fantom have highlighted that Sonic is capable of processing approximately 10,000 transactions per second, with near-instant finality—a marked leap from current network capabilities. The planned modifications are also set to cut operational expenditures, with a reported 66% decrease in validator node costs and minimized storage requirements. Another important detail is Fantom’s decision to maintain compatibility with the Ethereum Virtual Machine, which should make it straightforward for EVM-based applications to migrate to the upgraded chain without modifying their underlying code. Sonic will also debut a new token, denoted as S, which will replace the existing FTM token at a one-to-one ratio. The crypto trader Jacob Canfield stated via X, “Shared this setup x subs last week, but FTM is close to a price discovery break. Needs to clear the bearish impulse base and close a 4 hour candle and we will probably see swift price discovery. The chart coincides nicely with the SONIC launch.” #3 Avalanche (AVAX) Avalanche will be another focal point in the crypto industry, as the Avalanche9000 upgrade is set to go live on the mainnet today, on December 16. This follows a testnet debut on the “Fuji” testnet on November 25. Related Reading: Crypto Market Outlook: VanEck Issues 10 Predictions, Including Bitcoin Nearing $200,000 The highly anticipated mainnet launch is described by Avalanche’s core developers as the most significant upgrade in the chain’s history. Compounding the buzz is Avalanche’s December 12 announcement of a $250 million private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, with more than 40 other entities participating. According to official statements, this fundraising round strengthens Avalanche’s treasury, already valued at around $3 billion in AVAX tokens, and comes on the back of a previous $230 million token sale in 2021. Avalanche9000 incorporates the Etna Upgrade and key community proposals ACP-77 and ACP-125, altogether reimagining how Avalanche’s subnets function—now referred to as layer-1s. In doing so, Avalanche transitions from a costly validator system requiring 2,000 AVAX per instance to a more subscription-like model that charges 1.33 AVAX per month. The upgrade also focuses on cross-chain connectivity, enabling more sophisticated interchain communication within Avalanche’s broader ecosystem. #4 Stacks (STX) Stacks is another name to keep on the radar as it prepares to launch sBTC on Tuesday, December 17, at 11:00 am ET. This new BTC-backed asset is designed to bring Bitcoin’s liquidity directly into the DeFi sphere on Stacks, offering a rewards program that is notably free of staking requirements. According to the project’s official announcement, the sBTC Rewards Program provides a 5% annual Bitcoin reward, paid out in bi-weekly installments, and the distribution is made in actual Bitcoin, not third-party tokens. The program’s first phase, commencing on December 17, will focus on deposit functionality and immediate rewards accrual for sBTC holders. The second phase, currently planned for March 2025, is expected to layer in more advanced DeFi capabilities and reward structures, thereby broadening the utility of sBTC. #5 LayerZero (ZRO) LayerZero rounds out the week’s watchlist with a governance milestone. On December 20, 2024, at 00:00 UTC, ZRO token holders will engage in the network’s first-ever fee switch referendum, a vote that could activate a protocol fee on every LayerZero message. The referendum is straightforward, posing the single question, “Turn the fee switch on?” A majority vote of “Yes,” assuming quorum is met, would enact a fee that matches the underlying DVN and Executor costs for each message, effectively doubling the cost of each cross-chain transmission. The collected fees would then be used to buy back and burn ZRO, potentially reducing the circulating supply and impacting the token’s economics. ZRO balances across Ethereum, Optimism, Base, Polygon, Avalanche, BNB Chain, and Arbitrum are all factored into each holder’s voting power, consolidated seamlessly through LayerZero’s lzRead feature. The referendum will last seven days, concluding on December 27, 2024. A 60% quorum of the circulating supply is required for the vote to be valid; if that threshold is not met, the outcome defaults to “No.” If the referendum passes, the protocol fee would be immediately activated, potentially shifting the dynamics of how developers and users manage cross-chain communications. This governance mechanism is set to repeat every six months, though the quorum requirement would decrease by 5% each time if it is not met, down to a minimum floor of 20%. At press time, Bitcoin traded at $104,748. Featured image created with DALL.E, chart from TradingView.com
Bitcoin and Dogecoin are two of the most watched cryptocurrencies this cycle, with increases in the Bitcoin price mostly flowing into that of Dogecoin. At some point, the price correlation between the Dogecoin price and that of Bitcoin was at 0.97. Related Reading: Travala (AVA) Rally: Binance Early Bet And CZ’s Nod Drive 300% Growth Interestingly, recent market movements have seen the Bitcoin price returning above the $100,000 price level again, with the leading cryptocurrency reaching as high as 102,700 in the past 24 hours. However, this has yet to translate into a corresponding increase in the price of Dogecoin, with the meme coin breaking below support at $0.4 in the same timeframe. Dogecoin’s Recent Performance Amid Bitcoin’s Surge Bitcoin has once again surpassed the psychological $100,000 threshold after a 7.5% price increase since a $94,900 low on December 10. Notably, this upward movement is the latest recovery for Bitcoin after a rejection at the $100,000 price level that sent shockwaves of liquidations among other cryptocurrencies. But while Bitcoin has shown resilience, Dogecoin has faced notable challenges in sustaining its upward momentum. Dogecoin managed to rally to $0.48 on December 8, which is a level it hadn’t touched since 2021. However, a detailed examination of the meme coin’s price action reveals a recurring struggle with the $0.48 resistance level, which now seems to be the resistance level to break this market cycle. At the time of writing, Dogecoin is currently trading at $0.395, meaning it has lost about 17% since it reached this 2024 high of $0.48. As it stands, Dogecoin is down by about 13% in the past seven days, making it the worst performer among the top 10 cryptocurrencies by market cap in this timeframe. Is A New Dogecoin All-Time High Still Possible This Cycle? Market analysts have provided different predictions regarding the possibility and timelines of the Dogecoin price to achieve a new all-time high in the current cycle. ogecoin last reached its peak price of $0.73 during the crypto bull run of May 2021. The prospect of breaking above this level this cycle is still there, but the path forward appears challenging, especially if the Dogecoin price were to continue detaching from Bitcoin’s rally. However, you could argue that the general consensus is for Dogecoin to resume its uptrend anytime soon. Historically, Dogecoin’s price surges have been due to sudden spikes in retail investor activity, often due to rumors on social media like payments on X and things of that nature. For Dogecoin to surpass its 2021 high, a similar wave of enthusiasm would need to emerge with significant trading volume and renewed interest from both retail and institutional investors. Related Reading: Expert Eyes $35 XRP Price, Says Holders To Become ‘Filthy Rich’ As 2024 comes to an end, a more plausible scenario for Dogecoin to reach new highs might emerge in early 2025. By then, a change in the global economic and political landscape, including the inauguration of Donald Trump as president, could create optimism in the crypto sector. Featured image from Bankrate, chart from TradingView
SUI momentum continues after recording a new all-time high (ATH) on Friday morning. The cryptocurrency surged 4.5% to near the $5 barrier for the second time this week, fueling investors’ optimism about the token’s future price action. Related Reading: Ethereum: Analysts Eye $4,100 Target As ETH Reclaims Key Support Level SUI Nears $5 After New ATH SUI has been one of the leading cryptocurrencies this bull run, rising over 521% year-to-date (YTD) and nearly 182% since Q4 started. The token also outperformed the market throughout the Q2 and Q3 retraces, registering massive gains while most altcoins struggled. As the crypto market started to gain steam in preparations for the US elections, SUI saw a brief consolidation period after surpassing its March ATH. The token hovered between the $1.7-$2.3 price range before continuing the “price discovery” mode in November. The post-US election pump propelled the cryptocurrency’s price past the $3 barrier and near the $4 mark before retracing. Nonetheless, SUI’s momentum resumed on December 5 when it hit the $4.5 mark, fueled by Bitcoin’s first-ever surge above $100,000. The token’s rally continued this week, with SUI registering a 14% increase in the last seven days, which led to its latest $4.92 milestone on Friday morning. SUI’s remarkable performance also drove the token to the top 15 cryptocurrencies by market capitalization after flipping Polkadot (DOT). SUI’s Price To Peak In June? Amid SUI’s performance, several analysts noted that the token, often called “Solana’s “killer,” seems to be repeating SOL’s 2021 path. Market watcher Mags compared the two charts, suggesting investors won’t be ready for SUI’s upcoming movements. During the 2020-2021 cycle, Solana saw a massive rally that drove its price to its previous ATH. Its price action saw SOL gain steam at the end of 2020 and surge to its first major high of the year in May 2021. Then, Solana consolidated for a few months before resuming its run, peaking at $259 in late November 2021. According to Ali Martinez, SUI’s performance earlier this year resembled Solana’s initial climb last cycle, jumping to its $2.3 high before consolidating for a few months. Now that it has broken past its March ATH, SUI continues to move similarly to SOL, which could suggest that the token is poised for a massive surge soon. If it continues this pattern, the cryptocurrency could hit the $5 mark in the coming days after a brief consolidation in the $4.5-$4.8 price range. Trader Crypto Rand highlighted that SUI is in “full bullish momentum,” also forecasting it will hit the $5 mark soon. Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? Another pseudonym crypto trader predicted that the token could be near the $8 barrier by early 2025 and hit the $16 mark by Q2, following SOL’s path. Based on the chart, SUI could see its rally extended until June 2025, when it would hit its peak around the $40 mark. As of this writing, SUI is trading at $4.79, a 50% surge in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Texas is moving forward with plans to introduce a strategic Bitcoin reserve. State Rep. Giovanni Capriglione announced yesterday that he has submitted a bill that will enable the state to accept donations, fees, and taxes in the form of bitcoin, with the condition that it be held for a minimum of five years. “Probably the biggest enemy of our investments is inflation,” said Capriglione. “A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state.” Texas is the second US state to consider incorporating Bitcoin into its financial strategy. In November this year, legislation to form the Pennsylvania Bitcoin Strategic Reserve was introduced, with plans to allocate up to 10% of its treasury reserves to Bitcoin. This came after the Pennsylvania House of Representatives passed what is informally called the Bitcoin Rights Bill in October, giving Pennsylvania residents the option of Bitcoin as a potential payment method while safeguarding their rights to manage their own cryptocurrency. “By enacting this legislation, we can make the Commonwealth a friendly place for blockchain innovation and provide our citizens with the tools to engage in the digital economy safely,” according to Rep. Mike Cabell, who sponsored House Bill 2481 – or the Digital Assets Authorization Act – as it is formally known. The moves to establish strategic Bitcoin reserves by both Texas and Pennsylvania are positive news for the cryptocurrency economy, albeit at state-level, not yet federal. However, Dennis Porter – CEO of NPO Satoshi Action Fund, who worked with Capriglione on the draft legislation – is optimistic. “The state level, in our opinion, is the best place to create political momentum for bitcoin,” he said in an interview on CNBC New York. “The very best thing that we can be doing is passing this legislation at the state level, providing political momentum for federal legislation.” Bitcoin, which has been experiencing a post-US election boom – reaching the $100k milestone – continued to rally following yesterday’s announcement of Texas’ Strategic Bitcoin Reserve, although at the time of writing, it had dipped slightly. “Over its short history, Bitcoin has seen both major surges and sell-offs,” asset manager BlackRock noted in a report released earlier this week. BlackRock’s iShares Bitcoin Trust ETF currently manages some $53.8bn in assets. The Black Rock report adds that this volatility, “plus Bitcoin’s unique characteristics, raises the question of what role it should play in portfolios.” The financial giant advises that investors place a maximum of 2% of Bitcoin in their portfolio. It’s Not Only Bitcoin That’s In The Pound Seat Bitcoin’s rally is great news for other tokens – because when Bitcoin goes up, they tend to go up, too. And that includes the best meme coins. Take Crypto All-Stars ($STARS), for instance. This meme coin/DeFi token is currently on presale, and with a 200% APY and excitement surrounding its upcoming MemeVault, Crypto All-Stars is proving to be a massive success so far. $STARS has already raised over $15.3M, but with just seven days left until its official launch, time is running out if you want to buy $STARS at a presale bargain. Don’t forget to DYOR, though. Take a look at Crypto All-Stars on X to start your homework.
XRP, the cryptocurrency associated with Ripple, is currently the subject of much enthusiasm among analysts, who anticipate that it will generate substantial wealth for numerous investors in the years ahead. Related Reading: Tether’s USDT Hits New High—330 Million Wallets And Counting Recent predictions say that the price of XRP could go up a lot, to anywhere from $30 to $200 by 2025, depending on many market factors. Both experienced investors and newbies who want to get in on the cryptocurrency boom are interested in the huge returns that are possible. #XRP HOLDERS WILL BE FILTHY RICH BECAUSE OF THIS! (Price Prediction 2024 – 2025) pic.twitter.com/esdq9eJ6zz — STEPH IS CRYPTO (@Steph_iscrypto) December 11, 2024 Factors Contributing To The Potential Of XRP Rise A number of factors have led to this positive prediction for XRP. Most people are worried about the current legal battle between Ripple and the SEC. As signs of a good outcome appear, investor trust is rising. This legal certainty is very important because it could speed up the use of XRP in global banking. Institutional investors are becoming more interested in Ripple because it changes the way payments are made between countries. By 2025, crypto analyst Steph Is Crypto thinks XRP will have gone up 1,300%, to $30–$35. Since XRP is worth $2.33 right now, this bullish prediction means that buyers will make a lot of money. Instead of waiting for $35, he recommends investors to focus on the daily chart and take profits gradually as XRP rises. Steph warns traders that crypto is uncertain, but he thinks XRP might hit $35 by 2025. Some analysts, such as Ben Beddow, anticipate that XRP could surpass $4.11 by the end of the year, and it could reach $3 within months. Early investors, particularly those who acquired the stock at a lower price, would accrue substantial profits as a result of such price fluctuations. For instance, an investment of $1,000 could potentially increase to $14,000 if XRP achieves those higher objectives. The Potential For A Million The concept of becoming a millionaire through XRP is not merely a pipe dream. Wealth manager Jake Claver suggests that Ripple has the potential to revolutionize international payments in the same way that Amazon did for e-commerce, drawing parallels between XRP and Amazon’s early days. Claver foresees a future in which XRP could execute trillions of transactions per day, potentially causing its price to rise to an astonishing $132. This would be a staggering 23,900% increase from current levels. Related Reading: Eric Trump’s Bold Call: Bitcoin To Soar To $1 Million In ‘Financial Revolution’ Even though such predictions are ambitious, they do not seem impossible, with the growing institutional interest and with the fast pace of development of cryptocurrencies. The growing demand for XRP will force its price to increase as Ripple continues to partner with some of the biggest financial institutions while expanding its use case for global payments. Caution In The Face Of Optimism While the attraction of money is tempting, one must be careful while making such predictions. Cryptocurrency markets are highly volatile, and although some analysts seem positive about XRP’s future, no guarantee is available. Investors must think about taking profits at prices that rise instead of waiting for maximum valuations. Featured image from VOI, chart from TradingView
US President-elect Donald Trump’s World Liberty Financial (WLF) has made a substantial multi-million-dollar investment in Ethereum (ETH), Aave (AAVE), and Chainlink (LINK), leading to sharp price increases in AAVE and LINK. According to on-chain analysis shared by Lookonchain via X and verified through Etherscan, the fund purchased approximately $10 million in ETH, $1 million in AAVE, and $1 million in LINK on December 11. These are the fund’s first recorded acquisitions of both AAVE and LINK, while overall purchases in the last 12 days total around $30 million in USDC spent to secure more than 8,000 ETH at an average price of $3,701. Trump’s World Liberty(@worldlibertyfi) is buying $ETH, $LINK and $AAVE! In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8.https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ — Lookonchain (@lookonchain) December 12, 2024 Shortly after the news surfaced, AAVE soared roughly 31% in the past 24 hours, and LINK rose by about 23.5%. Related Reading: Chainlink Price Shines With 40% Rally — Is $28.5 Possible? The surge coincides with World Liberty Financial’s recent decision to integrate Chainlink’s technology. Last month, WLF announced that it “will leverage Chainlink as the standard for onchain data and cross-chain interoperability” to secure its protocol ecosystem. The press release described Chainlink as “the most secure solution for solving critical security, interoperability, and onchain data problems” while noting that this would “kick off the next wave of DeFi mass adoption” for WLFI. The platform plans to integrate Chainlink Price Feeds on Ethereum mainnet in anticipation of deploying a World Liberty Financial version of Aave’s v3 instance, pending governance approval. Related Reading: Whale Activity Sparks Chainlink Rally, $52 Target On Traders’ Radar In October, WLF submitted a proposal on the Aave governance forums seeking to deploy its own Aave v3 environment. Aave founder Stani Kulechov has confirmed that WLF’s instance is not a direct fork of Aave’s code but operates as a segregated version tied to separate, KYC-compliant front-ends. While this means WLF is tapping into the largest smart contract-compatible public blockchain and leveraging core decentralized finance primitives, it also maintains stringent compliance requirements. The project is initially limited to accredited investors within the United States. AAVE, which has risen by roughly 138% over the last five weeks, is also showing technical resilience. Today’s price action pushed it above the 0.5 Fib level at $356.84 (drawn from the all-time high to the cycle low). If this level holds on a weekly closing basis, upside targets could include the 0.618 Fib at $430.29, the 0.786 Fib at $534.87, and ultimately the ATH from May 2021 at $668. Chainlink’s performance over the past five weeks has been particularly strong, posting a gain of more than 175%. The most critical technical resistance level now appears to be the 0.5 Fibonacci retracement at $28.88. A decisive break above this level could open the path to the 0.618 Fib at $34.57, the 0.786 Fib at $42.67, and potentially the all-time high (ATH) from May 2021 at $53. At press time, LINK traded at $27.67. Featured image created with DALL.E, chart from TradingView.com
Holders of $PEPU – the new Pepe Unchained meme coin listing – will be smiling today. In just two days since its December, 10 launch, $PEPU’s market capitalization has sky rocketed to above the $480M mark. That’s a meteoric 500% gain. Bullish much? Pepe Unchained is certainly proving its mettle as one of the best new meme coins of the year. At the time of its DEX listing, 1 $PEPU cost $0.004638. The figure has now currently stands around $0.04905, with a 24-hour trading volume of an impressive $37.52M. Not too shabby at all, considering it entered the scene at a presale price of $0.008. Will Pepe Unchained reach its $1bn market capitalization goal? It’s too early to tell, of course, but the signs are looking good. So good, in fact, we expect to see CEXs getting on the action very soon. Pepe Unchained brings to the table a powerful Layer 2 blockchain ecosystem – purpose-built to foster meme-driven innovation at double the speed of Ethereum, and with lower fees. And soon to come is the Pepe Unchained Pump Pad – a pretty cool meme coin launcher. With no coding involved, the Pump Pad is a great way for novices and those-in-the-know alike to create and launch their own meme coins. It is also likely to pump up Pepe Unchained’s revenue. $PEPU’s X following (formerly Twitter) stands at an impressive 81k+. Speaking of, guess who’s been showing up in the personal feed of X head honcho and future President of the World, Elon Musk? Coincidence? Or a fan of $PEPU? The jury is still out on that one. But if it walks like a duck… The Pepe brethren set to be one of 2024’s top presales $PEPU isn’t the only Pepe token making headlines. Pepe Unchained’s financial froggy kin, Wall Street Pepe ($WEPE), is killing it in its presale stage. Wall Street Pepe raised $100k within five hours of launching its presale on December, 3. Within three days, it hit the $1M mark. And now, less than 10 days down the line, $WEPE has raised more than $6.8M. $WEPE tokens are being snatched up faster than frog legs at a French restaurant. Wall Street Pepe’s secret? Galvanizing an army of crypto underdogs to take back power from the whales – hiding in insider groups – who control the crypto markets. With a strategy to “turn frogs into whales,” Wall Street Pepe promises token holders access to exclusive trading insights, guiding them in their crypto market journey. And, as members of the $WEPE army, traders will be able to share knowledge, engage in discussions and receive key updates from Wall Street Pepe. Despite $WEPE’s tough Wolf of Wall Street exterior, this meme coin is backed by good intentions – empowering the little guy to play among the big boys, with equal opportunities for vast wealth creation. If you don’t have a crypto wallet, you may want to consider the Best Wallet app. It’s a really easy way to buy and store your crypto. It’s also fully non-custodial – the control is all yours, and not centralized companies or exchanges. The $WEPE presale site has a convenient link to Best Wallet. The Wall Street Pepe presale is currently underway, so there’s still time to join the fast-growing $WEPE army at a fantastically low price. That said, its current cost of $0.000212 is set to increase in less than four days. As always, don’t forget to DYOR research. A visit to Wall Street Pepe’s X page is a good start. And please note, this article does not constitute financial advice.
As well as cleaning up in the Electoral College, Donald Trump also seems to be doing rather bullishly with his cryptocurrency account. And now, observers are wondering if Wall Street Pepe ($WEPE) is next on his radar. Despite his past talent for bankrupting businesses, Trump’s crypto account seems to be bucking trends by performing rather well so far. According to Arkham, he currently holds almost $10M in crypto assets, with $TROG being the biggest one by far (almost $3.9M). This is notable as his preferred cryptocurrency has always seemed to be Ethereum ($ETH). But could his next target be Wall Street Pepe ($WEPE)? Given his political inclination to buck trends, break rules, and upset the apple cart, what $WEPE is trying to accomplish in the crypto markets may resonate with his team. After all, $WEPE is based on turning the tables on Wall Street whales, and letting the small investors make their potential fortune. This rule-bucking and trend-breaking could be what appeals to the President-elect, as he prepares to take office in just over a month from now. $WEPE is doing remarkably well at the moment with a market cap of almost $40M and a price steadily going up by the day. Presales have hit $3.5M with 5.2B tokens already bought and locked up. Future annual yields are currently estimated to be just over 150%. Social media buzz is also helping to propel $WEPE and boost presales, as it prepares to officially launch in just four days from now. All of this meme coin buying enthusiasm comes as Trump’s crypto platform, World Liberty Financial, embarks on a big crypto spending spree. Ethereum ($ETH) prices surged as WLF bought $10M of the tokens, as well as $1M in both aave ($AAVE) and Chainlink’s $LINK tokens. This is on top of another $30M spent in Ethereum ($ETH) in the past 12 days, and his close buddy Elon Musk using his X platform to push cryptocurrencies. Buying $LINK tokens is also worth noting, as Trump’s World Liberty Financial uses Chainlink’s infrastructure. So it’s reasonable to assume that his big investment in the company is based on the best interests of his own fledgling crypto company.
A leaked proposal to Russian finance minister, Anton Siluanov on the creation of a bitcoin strategic reserve in Russia, is adding to speculation about an imminent Bitcoin Space Race between the two global superpowers. This, after President-elect Donald Trump pledged to establish his own Strategic Bitcoin Reserve in the US, even suggesting part of the US debt “could be “paid off” with Bitcoin. The leaked proposal hints Russia has its own reasons for getting into crypto: “In conditions of limited access to traditional international payment systems for countries under sanctions, cryptocurrencies are becoming virtually the only instrument for international trade.” The Central Bank of Russia is already preparing to launch an experiment in cross-border settlements in cryptocurrency. Putin himself recently described bitcoin as an “unstoppable technology” and praised its potential as an alternative to foreign currency reserves. Indeed, financial sanctions may have driven Russia to adopt bitcoin and crypto at a faster rate than in other countries. Meanwhile, the price of Bitcoin has soared in 2024, reaching the monumental $100,000 mark earlier this month. And as major global superpowers race to board the crypto train, the prognosis for 2025 looks bright. As we have seen, when BTC goes up, altcoins and meme coins surge as well. And, while Bitcoin is a safe bet for nation states, altcoins may hold the greatest life-changing odds for individuals willing to bet on the crypto craze continuing well into 2025. If that’s you, we’ve rounded up four of the best altcoins to get into right now. $XRP – Stable Option Geared for Cross-Border Payments XRP, the native cryptocurrency of the Ripple network, has seen huge growth in the past two months, gaining approximately 319.77%. Recently, it reached a six-year high of $2.46. XRP stands out for how it facilitates fast and low-cost international money transfers, with an average settlement time of just 4 seconds, and very low fees (0.00001 XRP per transaction). Recent regulatory gains, such as the New York Department of Financial Services (NYDFS) approval for Ripple’s stablecoin, have also added to investor confidence. As have its recent partnerships with over 300 financial companies, including American Express, Bank of America, and Banco Santander. It’s easy to purchase XRP, you simply need a reputable wallet like the Best Wallet App. You can safely buy a range of cryptocurrency with Best Wallet, from popular meme coins like Dogecoin (DOGE) and Pepe (PEPE), to new meme coins like Pepe Unchained. Crypto All-Stars – Multi-Token, Multi-Chain Meme Coin Vault You probably don’t want to miss out on Crypto All-Stars, the next big presale slated to break all the records. $STARS is also the first and only token that’s also a meme vault. That means it brings together many of the top meme coins, from Dogecoin to Pepe, under one roof, greatly simplifying the entire process for first time buyers who’d like to diversify across a number of meme coins. Also, buying and holding the native token, $STARS boosts your meme coin rewards even more. Crypto All-Stars is still in presale, and at today’s numbers, 1 $STARS = to $0.0016782, staking rewards are at a decent 191% and over $13M has already been raised. With just a week left to go before listing, this could very well be the presale to watch. Dogecoin – The First Doge in Space What began as little more than a joke back in 2013 has become one of the top meme coins in the world, thanks in no small part to endorsements by heavyweights like Elon Musk and Snoop Dogg. In recent news, Dogecoin shot up 60%, from approximately $0.1807 to $0.2897 – as fast as overnight on November 6, election morning – in anticipation of a crypto-friendly Trump administration. At the time of writing, (12 December 2024), DOGE shows no sign of slowing down, with analysts predicting it could reach $3 any time now. ETH – Second Only to Bitcoin Beaten only by bitcoin in terms of market capitalization, ETH is the native cryptocurrency of the Ethereum decentralized, open-source blockchain platform. Founded in 2015, today ETH accounts for as much as 20% of the $1.1 trillion global crypto market. Far more than just another crypto token, the Ethereum blockchain is really a global, decentralized platform running thousands of games, financial apps, and even many other crypto coins on its network. The best part is, just like bitcoin, ETH can often be used like fiat to buy and sell goods and services, fulfilling the original dream of crypto for financial freedom, not just quick riches. It’s Go Time for Crypto! Trump and Putin have both pushed the button on crypto and for the rest of us, well, it’s a good time to be alive. Who knew it was this easy to take away power from the banks? Who knew a meme could potentially change your life?! The race is on at every level, and as the world moves away from traditional payment methods to newer, crazier, decentralized alternatives, the winners will be those who seize the opportunity and can navigate the noise with patience and poise. Disclaimer: This is not financial advice. Remember to always DYOR (do you own research) before buying any crypto and to never use funds you can’t afford to lose.
The son of US President-elect Donald Trump said that Bitcoin will continue to soar and made an audacious prediction that it will reach $1 million per coin. Related Reading: Tether’s USDT Hits New High—330 Million Wallets And Counting Trump Organization Vice President Eric Trump vowed that his father and their family will not cease their support of the firstborn cryptocurrency. Cornerstone Of A Financial Revolution Eric believes that Bitcoin being traded at $1 million per coin may happen soon, describing the crypto as the “cornerstone of a financial revolution.” COMMENT: Eric Trump is confident that Bitcoin will hit $1M. https://t.co/iFb5cmzpFz — BSCN (@BSCNews) December 10, 2024 Trump’s son made the fearless forecast as he talked to the attendees of the Bitcoin MENA 2024 conference in Abu Dhabi on December 9, delivering his prediction to the audience without any taint of doubt on the capability of Bitcoin to hit that milestone. “I can tell you a hell of a lot more eyes are going to be opened when Bitcoin hits $1 million. And I’m confident it’s going to hit $1 million. I think we’re all confident in this room that it’s going to hit a million,” Eric stated. According to Eric, he sees Bitcoin as a “global asset”, pointing out the global significance of the crypto in a time wherein the threat of inflation, political instability, and natural disasters is rampant. For the Trump Organization’s vice president, the future of finance is Bitcoin, arguing that the crypto is a powerful hedge against the traditional financial system’s inefficiencies because of its decentralized quality and fixed supply of 21 million coins. “Bitcoin eliminates the need for tens of thousands of bankers pushing paperwork for exorbitant fees,” he added. More Accessible Financial Tool Eric noted that what makes Bitcoin successful as a global asset is its accessibility, adding that crypto does not need intermediaries such as banks or brokers in its transactions. Trump’s son stressed the global appeal of cryptocurrency and how user-friendly is the digital asset as compared to traditional real estate investments. “Unlike real estate, Bitcoin is not tied to geography. It’s global, instantly liquid. You can buy or sell it while having dinner with your spouse,” Eric explained. Moreover, Eric emphasized that Bitcoin could empower people in developing nations. “Bitcoin gives everybody the opportunity around the world to participate in ways they never otherwise would have thought, no matter their wealth, no matter their location,” he remarked. Related Reading: HBAR To Hit $100? Analyst Points To Utility And Market Cap Potential Trump Family To Support Bitcoin Eric vowed that his father and their entire family would continue to advocate cryptocurrency, pledging they would keep on playing an essential role in the global financial landscape. He remarked that his father, Donald Trump, helped fuel the recent surge in the alpha cryptocurrency, adding that he will lead the United States into the “digital revolution.” Eric Trump said that the people, governments, and institutions who embraced Bitcoin will become the biggest winners in the digital revolution. Featured image from DALL-E, chart from TradingView
Max Resnick, a reputable Ethereum expert, has taken a bold shift to the Solana blockchain. The change follows his departure from Consensys, where he played an important role in advancing Ethereum’s ecosystem. Given Resnick’s strong ties to Ethereum and growing enthusiasm for Solana, this unexpected decision has sparked debate in the cryptocurrency community. Related Reading: Bitcoin Bet For Amazon? 5% Stake Proposal Raises Eyebrows Resnick wrote a blog post outlining his motivation for joining Solana, emphasizing his wish to become knowledgeable about the protocol’s main components, including consensus processes and fee markets. He clarified, “I want to get up to speed on the implementation details as soon as possible,” adding that his work might open the door for others to eventually help Solana flourish. Last week was my last week at Consensys. Today is my first day at @anza_xyz. I’m taking my talents to Solana. In my first 100 days, I plan on writing a spec for as much of the Solana protocol as I can get to, prioritizing fee markets and consensus implementations where I… — Max Resnick (@MaxResnick1) December 9, 2024 Focus On Collaboration And Innovation Resnick’s decision was not solely about Solana’s technology; he also emphasized the important work of Anza, a Solana-focused R&D firm. He applauded Anza’s behind-the-scenes efforts, namely its contributions to network enhancements. “Those of you in Eth land may not have heard much from them, but they’ve been quietly shipping major improvements to the network over the past year,” Resnick pointed out. Resnick hasn’t completely given up Ethereum despite his transformation. Working as a Research Fellow at Consensys, he will keep providing advise and support. Resnick’s dual function suggests that he aims to cross knowledge between two important blockchain environments, therefore benefiting both communities over time. Solana Price Momentum Positive confidence has helped Solana’s market performance to progressively get better. SOL has risen 5.9%, to $225 within the past 24 hours. The altcoin has surged sharply since early November, surpassing levels of crucial resistance. SOL’s value jumped 215% during the past year, suggesting rising investor confidence. The slow rise in price suggests stronger technical structure and more market use. Analysts predict Solana’s momentum will keep on, especially with well-known people like Resnick on its development team. #Solana $SOL will hit $4,000, based on this cup and handle pattern! pic.twitter.com/dXZLI9urOh — Ali (@ali_charts) December 10, 2024 Related Reading: HBAR To Hit $100? Analyst Points To Utility And Market Cap Potential Differing Price Forecasts Still, forecasts of Solana’s eventual price vary widely. Inspired by the “cup and handle” chart pattern showing on monthly charts, crypto analyst Ali Martinez thinks SOL might reach $4,000. This optimistic framework suggests that a breach above $260 would cause exponential increase. On the other hand, asset management Bitwise has set a more conservative price target of $750, citing macroeconomic variables and broader market patterns. These divergent expectations illustrate the unpredictability in the cryptocurrency world, where optimism and caution frequently coexist. Featured image from Medium, chart from TradingView
Sentiment from the head of a Wall Street giant signals good news for the cryptocurrency economy. Goldman Sachs CEO David Solomon has said that the investment banking major would evaluate trading cryptocurrencies should US regulations permit the bank to do so. “At the moment, as a regulated banking institution, we’re not allowed to own a cryptocurrency like Bitcoin as a principal,” he said at a Reuters Next conference, held on Tuesday, 10 December. “We give our clients advice around a variety of these technologies and these issues, and will continue to do that. But for the moment our ability to act in these markets is extremely limited from a regulatory perspective.” Interestingly, Goldman Sachs disclosed in its recent US Securities and Exchange Commission (SEC) 13F filing that the company holds more than $700M in eight Bitcoin ETFs, as of September 20, 2024. So, it would appear that at long last, corporate attitudes to crypto are finally changing. Even US President-elect Donald Trump has positioned himself as a champion of cryptocurrency. The launch of a strategic national crypto stockpile was among the promises made by Trump in the run-up to the 2024 election. Removing Gary Gensler – the nemesis of crypto companies due to his aggressive approach to crypto regulation – from his position as SEC Chairman was another. A Green Light for Ripple’s Stablecoin Means Meme Coins Pump The big news for the cryptocurrency economy keeps on rolling, as Ripple CEO Brad Garlinghouse recently announced that its $RLUSD stablecoin has been approved by the New York Department of Financial Services to go live. Pegged to the US dollar at a 1:1 ratio, $RLUSD will be supported by a combination of US dollar reserves, short-term US Treasury securities, and other liquid assets, mirroring Tether’s approach to backing. $RLUSD is set to be launched on the XRP ledger in Ethereum. In all, the latest developments are great news for the economy, cryptocurrency holders, and the likes of Best Wallet. Powered by Best Wallet’s $BEST token – currently in presale with an impressive $3.34M already raised – Best Wallet plans to capture 40% of the crypto wallet market share by end-2026. Best Wallet is mobile-first, fully non-custodial app supports thousands of cryptocurrencies, including the best meme coins, across 50 major blockchains. But it’s that non-custodial aspect that sets Best Wallet apart. Most crypto wallets are controlled by centralized companies or exchanges, whereas Best Wallet gives users full control over their wallet. And that’s in addition to reduced transaction fees, early access to presales, and airdrops. It’s also the first crypto wallet to use Fireblocks’ MPC-CMP wallet technology, which adds high security, zero counterparty risk, and multi-blockchain support. All things considered, we believe $BEST is worthwhile looking into. Investors have just under two days to secure $BEST at its current price of $0.23075 before the next price increase. Bear in mind, though, this article does not constitute financial advice, and it’s always important to DYOR.
As of the end of Q3 2024, Tether’s USDT stablecoin has hit a new record with 330 million on-chain wallets. This shows that USDT is the market leader in stablecoins and is accompanied by an astounding rise in acceptability, particularly among small holders. Stablecoins are becoming more popular for a variety of financial transactions, including savings, remittances, and transactions, which is driving the rise. Related Reading: HBAR To Hit $100? Analyst Points To Utility And Market Cap Potential Unprecedented USDT Growth Among Small Holders According to Tether’s latest data, the number of wallets holding USDT has increased by 71% in just one year. This rise is primarily driven by wallets with balances under $1,000, demonstrating that daily consumers prefer the stablecoin for its convenience and dependability. In fact, around 18.7 million wallets contain less than $1 of USDT, demonstrating its utility as a financial tool for those with low resources. According to Tether’s data, approximately 30% of these smaller wallets are reactivated on a regular basis, implying that users continue to use the coin whenever funds are available. The substantial increase in wallet numbers can be linked to a variety of factors, including the aftermath of the FTX crash, which encouraged many users to self-manage their assets rather than rely on centralized systems. This move demonstrates a rising trust in USDT as a solid and secure option in the wake of market volatility. Dominance Over Competitors With over 109 million active on-chain wallets, USDT has surpassed Bitcoin and is closing up on Ethereum’s wallet count. Tether’s stablecoin accounts for 97.5% of the overall stablecoin supply, considerably outpacing competitors such as USDC and DAI. According to the report, USDT is stored in four times more wallets than all other stablecoins combined, cementing its status as the world’s leading stablecoin. Emerging markets play an important role in this growth story. Almost half of the web traffic to centralized exchanges comes from these countries, where USDT is used by most consumers for money remittances and everyday transactions. This situation illustrates how USDT narrows the gap between individuals and banks when it involves providing a trusty solution for saving funds and conducting payments without access to the banking system. Related Reading: PEPE Hits $10.5 Billion Market Cap Milestone Amidst Frenzied Whale Action A Resource For Financial Inclusion The emergence of USDT is more than simply statistics; it signals a larger trend toward financial inclusion. With 59% of the world’s population earning less than $10 per day, stablecoins like as USDT are becoming increasingly important for many. Featured image from DALL-E, chart from TradingView
As meme coins continue to win over the public’s hearts and wallets, analysts wrestle with their irreverent, often degenerate appeal. Take $Luigi, a meme token inspired by Luigi Mangione, the lead suspect in the December 4 shooting of UnitedHealthcare CEO, Brian Thompson. The coin soared to a $77 million market cap just two days after launching earlier this week, in what can only be read as a protest against Mangione’s arrest on 9 December. Mangione has been cast as something of a hero for writing a manifesto against corporate greed and taking action in this ruthless hit-and-run shooting, which was recorded live and viewed by millions online. In a depraved response, the Luigi coin was then launched by anonymous crypto traders, and immediately started trending on Raydium, the automated market maker built on Solana. Hype-Coins Signal Public Sentiment Meme coins often pop up in response to viral content, news or popular culture events, and their value can fluctuate wildly, reflecting public sentiment towards these topics. While many are based on fairly innocuous memes, like dogs, cats and frogs, others are fueled by darker tropes, such as murder, suicide, cancer, or even swastikas. The Luigi coin, for example, seems to draw its strength from the latent anger common people hold for corporate greed. “As always, Solana meme coins are the best source of the news, as seen with the Luigi Mangione coin made minutes later,” said meme coin guru Burning Kitty on X. The $Luigi meme coin continues to feed off the hype around the story, but like most news-based meme coins, it’s highly volatile and has dropped to $29 million at the time of writing. Dark Energy Powers Meme Coins Similarly, coins like Catslap engage the public’s secret desire to perhaps b*tchslap some powerful people, as featured in the $SLAP website. These meme coins demonstrate that public anger can be funneled to send a token to the moon, but also, that acting on heated emotions may not be the best bet. That’s because, the more charged the issue, the more volatile the value, as we have seen with $LUIGI falling as fast as it rose. Meme tokens like $LUIGI lack the fundamental value and stability of traditional assets, making them highly volatile and risky investments, argues Alex Beene, Financial Literacy Instructor at University of Tennessee, in an interview with NewsWeek. “Typically rises in the value of a meme coin pertaining to a viral story or trend aren’t this gruesome, not to mention centering on criminal activity. Even if the flurry of buying activity is being done more out of novelty for the moment than as a sign of support, it definitely doesn’t speak highly to some in the crypto community” Beene adds. Analysts believe a wiser move, if you’re into irreverent meme coins, may be to look at something like Catslap ($SLAP). The token has seen a price surge of some 220% since listing on MEXC on December 6. This, following a 7,500% price gain since its launch on decentralized exchanges just two weeks ago. Catslap is audited by SolidProof, has a 99% project reliability score on DEXtools, and 53% of its $6.8 million liquidity is locked on-chain for one month. So rug pulls are unlikely. The token is also now one of the top swaps on crypto’s most-popular Ethereum wallet, Metamask. Liquidity looks deep at $6.5 million, and it’s locked for an extra six months to signal the team’s commitment to the project’s longevity. You can buy $SLAP on MEXC, Best Wallet, directly via the exchange widget on the Catslap website and on Uniswap DEX. $SLAP is gunning for a $100 million market capitalization, so act fast if you want to slap with the top cats. Read here for some of the other best meme coins to be looking at right now. Disclaimer: As always, this is not financial advice, and it’s best to always DYOR (do you own research) before buying crypto.
Eric Trump (second son of President Donald Trump) predicts that crypto and blockchain will soon surpass traditional banking systems. At the recent Bitcoin Conference in Abu Dhabi, Trump remarked that the current banking system is quite ‘antiquated.’ If you want a loan for your dream house, it’ll take at least 90 days. But by then, your dream house might be sold. However, blockchain can solve this issue with its faster, more efficient process. He also added that blockchain can do everything that a traditional banking system can, only faster, better, and at a cheaper price. Trump’s Stance On Cryptocurrency It looks like Eric Trump shares his father’s vision. From the beginning of his re-election campaign, Donald Trump has been quite vocal about his support for crypto. He accepted donations for his campaign in crypto, appeared at several industry events, pledged to promote the crypto industry with fair regulations, and promised to make the USA ‘the crypto capital of the planet.’ That’s because he believes that crypto is the future of the world. Slowly but surely, every country will embrace this new currency, so it’s better that the USA leads the revolution. ‘If crypto is going to define the future, I want it to be mined, minted, and made in the USA,’ he had said. The Impact of Trump’s Crypto-friendly Approach on the Overall Market Crypto investors might have noticed that over the last few weeks, the market has been on the rise. Many popular currencies, such as Bitcoin and Dogecoin, and a few new entries on presale, like Flockerz, have been gaining ground at rocket speed. Bitcoin recently crossed the $100K valuation mark. The spike started on November 6 when it seemed Trump would win the election. In a single day, Bitcoin’s value jumped up by $6K. A week later, its total value hit $90K; on December 5, Bitcoin crossed $100K. The same happened with Dogecoin. After Trump’s victory, its per-token price more than doubled, going from $0.16 per token to almost $0.38. Today (December 11), it’s listed at just over $0.39. It’s having one of the best years since 2021. Flockerz, which is currently in presale, has managed to raise $4M so far. According to experts, when the token finally launches, the big investors might become millionaires overnight as they expect it to give a 4000x return. Chasing the (New) American Dream Analysts believe Trump’s victory in the presidential election is one of the reasons for this sudden growth. Trump has promised to reduce restrictions on crypto trading, lower taxes, create favorable policies, and even appoint a crypto-friendly chairperson to the SEC. This has given new investors the much-needed confidence to finally dip their toes in the market. Seasoned investors are also looking to increase their investments. However, bear in mind that this isn’t financial or investment advice and it’s critical you do your own research before investing. So if the market does continue to grow at this pace, Trump’s prediction will come true – crypto will become the future and overtake traditional baking systems.
Solana (SOL) has seen its rally slow down in the last few days, dropping 23% from its new all-time high (ATH) and over 8% in the past day. Some investors worry about the Altcoin’s short-term performance as the crypto market pulls back. Related Reading: Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming? Solana Drops To Lowest Level In A Month Solana has been one of the leading cryptocurrencies this cycle, outperforming most of the market and stealing the headlines. Unlike most altcoins, the cryptocurrency outperformed during the Q2 and Q3 retraces, holding above pre-bull run levels. As Q4 started, Solana continued to hover within the $110-$180 price range, breaking above this range after the market’s post-election pump. SOL’s momentum propelled the token past its yearly high and successfully reclaimed the $200 barrier. The token continued to climb higher until its new ATH of $263 on November 23. Since then, Solana hovered between the $245-$220 price range, fueling investors’ optimism about the altcoin’s next “price discovery” move. Nonetheless, SOL’s price has taken a blow in the past day alongside Bitcoin and the rest of the crypto market. Solana saw an 8.7% correction in the last 24 hours, falling to the $210 support level before dropping below it. The cryptocurrency is now retesting the key $200-$210 zone as support for the first time since breaking past it, falling below the $205 level on Tuesday morning. Crypto analyst Altcoin Sherpa shared a possible bearish outlook for SOL’s short-term performance based on the ongoing price retest. Per the post, “SOL weakness has been pretty obvious, and it’s being reflected in the sol shitcoin price action as well.” The analysts explained that the current price action looks seemingly underwhelming, suggesting that holding the $200-$210 region is crucial. Failing to hold this zone would likely send the price to the pre-election resistance level of $180, which has not been tested as support since breaking above it over a month ago. SOL Eyes Higher Targets Similarly, Crypto Jack forecasted a potential fall to the $180-$160 range if SOL fails its retest of the $200 mark as support. However, he considers the over 10% drop a “buy the dip” opportunity for investors. According to his potential play for Solana, the cryptocurrency would bounce to its ATH levels and attempt to break past them. Other market watchers pointed out that SOL is currently retesting the weekly and monthly timeframe resistance as support, which could see Solana go higher “as long as it holds.” Crypto analyst Jelle reaffirmed his $600 target for the cryptocurrency, noting that it “performed incredibly during the first year of the cycle” and will “be a winner again in the coming months.” Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 Meanwhile, Bitwise’s latest report predicted that SOL could rally over 200% in 2025. The asset manager’s CIO, Matt Hougan, and Head of Research, Ryan Rasmussen, consider that the altcoin’s momentum “is just beginning to build,” predicting it will hit $750 next year. At the time of writing, Solana is trading at $204, an 8.5% and 3.1% decline in the daily and monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
In a strategic shift from its stance on digital currency, Iran has decided to regulate the crypto industry instead of restricting it. The decision was announced by the Minister of Economic Affairs and Finance Abdolnaser Hemmati at a national event in Tehran, where he said that they aim to minimize the risks associated with crypto while reaping all its benefits. The country’s Central Bank will be in charge of managing all the digital assets. From laying down the regulatory framework and helping financial institutions adopt digital assets to monitoring transactions and ensuring compliance, it’s all up to the Central Bank. It has already published a set of guidelines regarding tax compliance and anti-money laundering measures. Currently, Iranian investors hold between $30B and $50B worth of crypto assets, roughly one-third of the company’s total gold market. The Crucial Timing of the Decision The timing of this decision couldn’t have been better. Hemmati believes that will have several benefits: Attract domestic and foreign investors Create more job opportunities and drive employment among the youth Integrate Iran with the global economy and simplify its access to a much broader range of financial services (those that only allow crypto transactions) But there’s one major reason that beats everything else – protection from sanctions. As Donald Trump prepares for his second term in the White House, Iran must brace itself. The first time Trump was president, he withdrew the Iran nuclear deal. One of the reasons he cited was that the deal was one-sided, benefitting mostly Iran and not bringing much of the peace it promised to the other countries. Note: The Iran Nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), is a landmark agreement between Iran and the superpowers of the world (including the USA) under which Iran promised to dismantle its nuclear program and allow the other countries to closely inspect its nuclear facilities in return for relief from billions of dollars worth of sanctions. Will the US Impose Sanctions? With the sanctions back, Iran’s economy took a massive hit, and the country has been struggling ever since. Hence, now that Trump is back, there are rumors that he might revive his so-called ‘maximum pressure policy’ against Iran with more sanctions. The chances of a revival of this policy seem low. JPMorgan analyst Arun Jayaram states that imposing more sanctions on Iran can severely affect the global oil supply, removing approximately 1 million barrels of oil per day from the supply chain. But you never know with Trump, so Iran has wisely decided to buckle up. Iran is making other compromises as well. For instance, on Tuesday, the UN declared that Iran has decided to stop producing enriched uranium that it could use to make bombs. Also, new Iranian President Masoud Pezeshkian had previously said that establishing cordial relations with the West, getting relief from sanctions, and restoring ‘normality’ to Iranians is his primary goal for this term.
The broader crypto market experienced a major crash on December 9. While the Bitcoin price dropped from $101,109 to as low as $94,150, marking a -7% decline, the altcoin market suffered significantly more severe losses. Ethereum fell by as much as -12% at one point, XRP by -22%, Solana by -15%, Cardano by -23%, Dogecoin by -19%, and Shiba Inu by -25%. According to Coinglass data, more than 562,000 traders were liquidated in the past 24 hours, and total liquidations reached $1.7 billion. The largest single liquidation order took place on Binance in the ETHUSDT pair, valued at $19.69 million. Of the $1.7 billion in total liquidations, $1.55 billion involved long positions. Notably, Bitcoin’s leverage flush was relatively modest compared to that of altcoins, with $143 million in BTC longs liquidated. By contrast, ETH saw $219 million in liquidations, SOL $57 million, DOGE $86 million, XRP $53 million, and ADA $22 million. Across the entire crypto market, this represented the largest leverage flush since April 2021, when a record $10 billion in crypto futures liquidations occurred in a single day. This surpassed the previous record of $5.77 billion. Related Reading: November Crypto Performance: Memecoins Up 95%, ADA, SOL, And DOT Follow With Strong Gains Following the flush out, Bitcoin and most altcoins staged a sharp upward recovery, although they have yet to return to their pre-crash levels. Over the past 24 hours, BTC remained down by -2.4%, ETH by -4.8%, XRP by -9.6%, SOL by -6.4%, and DOGE by -8.4%. What Caused The Crypto Market Crash? According to crypto analyst ltrd (@ltrd_), the underlying dynamic began with increased selling pressure on Coinbase, where traders started selling aggressively almost an hour before the major cascade. Although the ultimate plunge was triggered by a chain reaction of liquidations, this prolonged selling in the spot markets was critical in pushing prices into zones where overleveraged traders had little choice but to unwind. Overheated funding fees and rising open interest levels meant that once the initial cracks appeared, heavily leveraged positions had no chance to escape. “How can we tell that the market was overheated? It’s simple—the Funding Fee plus the increase in Open Interest. These two factors are drivers of the current market and indicate that people are overleveraged,” ltrd explained. When the market finally broke down, its effects were uneven. Bitcoin displayed characteristics distinct from other instruments, and Ethereum showed encouraging signs of accumulation on the way down, hinting that a major buyer could have been taking advantage of the opportunity. Yet the truly astonishing developments occurred with XRP on Coinbase, where, as ltrd put it, “You can see something crazy—the market impacts for XRP on Coinbase are mind-boggling. Something absolutely strange happened. On a large, relatively mature market, we witnessed a cascade of big sell orders that caused the market to drop by over 5%. We don’t know exactly what happened, but it’s certainly unusual.” Ltrd speculated that these enormous and abnormal sell orders may have come from a significant player forced to liquidate at any price. Related Reading: Trump’s Crypto Czar David Sacks Is Super Bullish For Solana: Here’s Why “It might be worth monitoring this situation over the next few days. Perhaps a major player was forced to sell as if there were no tomorrow,” he mused. The consequence of such an event, even in supposedly deeper markets, was a swift crash that spilled over into perpetual swaps trading elsewhere, triggering further liquidations. According to ltrd, “When something like this happens, it’s typically a cascade of unintentional orders. Market makers absorb this selling pressure and hedge it, causing signal propagation across the exchanges.” Even large-cap altcoins like XRP, which have market caps on par with major US companies, still face liquidity constraints that become glaringly apparent under stress. “Relative to these market caps, the liquidity in the market is still poor,” he noted, explaining how this contributes to the observed volatility and the dramatic nature of such events. As prices eventually stabilized and began to bounce from their lowest points, ltrd highlighted how this pattern is common in overheated markets: “The next thing you always see in a hot market is a quick price reversal from the lowest point. There are a huge number of liquidations, limited liquidity, and still many players in profit who want to buy the dip. Let’s see who comes out as the winner.” Macro analyst Alex Krüger placed the entire event into a broader perspective. “Nothing’s changed. Expect prices to still go up,” he stated, while noting that future conditions, such as a pro-crypto US administration under Donald Trump, could set a more constructive backdrop for digital assets. Although Krüger cited the possibility of more leverage flushes in the coming months, he viewed these events as a normalizing force. “Today’s was a major leverage flush out. Mainly for altcoins. Very normal in hot and highly levered markets. This is how crypto baptizes newcomers and keeps crypto natives disciplined,” Krüger said, and added “Never fun to be caught long in a leverage flush out. But that’s what this is. Funding back to the base line across the board. This time alts as well. Expect a few more of this in the next few months.” At press time, Bitcoin traded at $97,401. Featured image from Shutterstock, chart from TradingView.com
Ethereum, the second-largest crypto by market capitalization, has recently demonstrated strong bullish momentum, breaching above $4,000. It is worth noting that its price rally has been accompanied by a significant spike in its funding rates, a critical metric reflecting sentiment in the futures market. The metric, analyzed by CryptoQuant analyst ShayanBTC, has reached levels not seen since January 2024. This surge in funding rates suggests a growing optimism among traders, with many anticipating the possibility of Ethereum reaching new all-time highs. Related Reading: Large Ethereum Transactions Grow As ETH Breaks Yearly Highs But Is A Correction On The Horizon? Despite this enthusiasm, the market’s current state raises questions about sustainability. Historically, such spikes in funding rates have often preceded short-term corrections, stabilizing the market. According to Shayan, the current situation mirrors January 2024, when Ethereum saw an 88% rally following similar market conditions. The analyst suggests that while the current rally may pave the way for further gains, a pullback could be essential for healthier long-term growth. Funding rates serve as a barometer for market sentiment, particularly in the futures market. A positive funding rate indicates a preference for long positions, with traders expecting higher prices. Ethereum Funding Rates Hit Multi-Month High “Funding rates are at levels last seen in January 2024, when Ethereum rallied by 88%. This reflects increased long-position interest as optimism grows. Similar to January, this sharp increase suggests the likelihood of a pullback.” –… pic.twitter.com/euKGhIqNKO — CryptoQuant.com (@cryptoquant_com) December 9, 2024 As Ethereum’s funding rates hit multi-month highs, this trend signals a surge in bullish sentiment. However, history shows such sharp increases can create short-term market imbalances, leading to corrections. Shayan noted: While Ethereum’s rally is underpinned by bullish sentiment, the spike in funding rates signals the need for a short-term correction, paving the way for healthier and more sustainable price growth. Ethereum Market Performance Ethereum remains below the $4,000 mark after falling below this level last week. Currently, ETH is trading at $3,819, reflecting a 4.9% decline in the past 24 hours. Despite the recent drop, the asset has gained nearly 30% over the past month. However, ETH’s latest dip further distances it from its all-time high of $4,878 in 2021, leaving it 20.5% below that peak. Related Reading: Ethereum Active Addresses Surge By 36% In Support Of Bullish Price Action – Details Nevertheless, market analysts maintain a bullish outlook on Ethereum, with many projecting potential new highs for the asset shortly. $ETH Hello everyone, I felt the need to share a detailed #ETHUSDT analysis with you. I hope you find it helpful. First and foremost, despite the recent rise in $BTC, Ethereum and altcoins have not yet responded as expected. Therefore, I encourage those who are worried to remain… pic.twitter.com/XsB2HroNnG — Talha Batuhan Ayna (@TBatuhanAyna) December 9, 2024 Featured image created with DALL-E, Chart from TradingView
A former XRP skeptic has made an unexpected statement declaring the present price chart of XRP to be the best among all the cryptocurrencies. This surprising praise has sparked debates about Ripple’s digital currency, which still attracts strong advocates as well as outspoken detractors. Although it is uncommon for long-term critics to become optimistic about XRP, a recent observation by the seasoned trader has incited optimism among its supporters. The token’s chart is purportedly gathering momentum, which suggests that there is potential for long-term growth. Related Reading: Ethereum Surge Coming? Analyst Eyes $16,000 Milestone Within 2 Years Not believing in XRP, Peter Brandt has lately described its chart as “the most powerful in the crypto world.” From the digital currency community, the abrupt shift in his tone has drawn eyebrows since many view it as evidence that the token is growing in relevance in the crypto scene. XRP has been under close examination for years due to its relationship with Ripple and continuous regulatory conflicts; yet, recent events have greatly changed the circumstances for many. The constant success of the token has caused some to change their opinions even if the market is erratic. This the most powerful chart in all of crypto world $XRPUSD pic.twitter.com/UexaPB4D9r — Peter Brandt (@PeterLBrandt) December 7, 2024 What Characterizes The XRP Chart? Brandt, who is recognized for his pessimistic perspectives on XRP, identified the token’s present chart pattern as a game-changing factor. According to reports, technical indicators show that an unprecedented breakout may be imminent for XRP. The critic identified critical signs, including an elevated trading volume and an ongoing support level, as indicators of an increasing level of investor confidence. Market analysts have expressed their opinion that XRP’s relative stability amid broader market fluctuations could potentially position it for a substantial rally. It is believed by some that the asset could reach new highs by surpassing resistance levels, thereby further solidifying its status as a significant participant in the crypto ecosystem. The Ripple Effect Beyond technical analysis, Ripple’s strategic partnerships and expansion into new markets have significantly increased the appeal of XRP. Using the altcoin to enable cross-border transactions, Ripple has been aggressively showcasing its payment solutions. These initiatives have drawn attention from institutional investors to the token’s use cases. Restoring investor confidence has also been much aided by Ripple’s most recent court triumph against the Securities and Exchange Commission (SEC). Though the matter is far from closed, the partial verdict in Ripple’s favor has addressed several issues about XRP’s regulatory situation and offers a clearer road forward. Related Reading: Countdown To $5 XRP: Engineer Predicts Milestone On ‘Strong Fundamentals’ A New Era For XRP? Whether the chart of XRP will fulfill its promise remains to be determined; however, the change in sentiment is undeniable. The token, which was previously dismissed by a significant number of individuals, is currently attracting attention as a potential forerunner in the upcoming (or, ongoing?) crypto bull run. This transformation emphasizes the volatile character of the cryptocurrency market, where narratives can evolve at the same rate as prices. Featured image from DALL-E, chart from TradingView
Crypto analyst Cantonese Cat (@cantonmeow) suggests a scenario in which Dogecoin could reach $1 or even $2 relatively quickly. Posting on X, the analyst stated: “DOGE closed 3 weeks in a row above 0.786 log fib, which makes higher prices possible; don’t be surprised if it hits $1 or $2 in a hurry.” Why Dogecoin Is Even More Bullish Than Last Cycle In a recent YouTube video, Cantonese Cat provided in-depth technical analysis, comparing Dogecoin’s current cycle to its previous historic run. The analyst highlighted that last cycle, the price faced rejection around the 0.786 Fibonacci level (log scale) before pulling back and consolidating at the 0.618 level for approximately four weeks. This time, however, Dogecoin appears to be sustaining price action above the 0.786 log Fibonacci level without a deeper correction. According to Cantonese Cat, “So far we’re above the 0.786. That’s insane. It looks like it just wants to keep going up higher forming a very nice bull flag.” Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout Reflecting on weekly Ichimoku Cloud signals and higher time frame indicators, the analyst emphasized that multiple technical factors appear aligned for further bullish momentum. “If you’re also just looking at like the weekly Ichimoku [Cloud], we broke through that convincingly,” he explained. Referencing the monthly chart, he added, “We broke through the monthly Cloud very convincingly and over here, for January 2021, we just broke through it in one stroke. Over here [last month] we broke through it in November, hit the 0.786 fib level here, got rejected and we broke through [the 0.786 in the first days of December].” Related Reading: Dogecoin Price Analysis: Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish The analyst also pointed out that, unlike the previous cycle, Dogecoin is not exhibiting a significant retrace before attempting higher levels: “It doesn’t even really want to have a big back test or anything. You got kind of close to back test of the monthly [Cloud], didn’t really quite get there so all these are very bullish.” Cantonese Cat believes Dogecoin may soon challenge its all-time high levels, citing a more bullish overall chart structure relative to the previous cycle. “I think DOGE is going to make all-time highs relatively soon. Even the SuperIchi monthly is ready… This is a fairly bullish chart,” he remarked. The analyst referenced potential Fibonacci extension targets of $2.3 (1.414 extension) or even $4 (1.618 extension), underscoring that these levels, while seemingly high, remain theoretically on the table given current market conditions. “It’s kind of insane to think about because of the market cap, but so far I can’t deny the way that this looks right now—it actually looks a little bit more bullish than last cycle.” At press time, DOGE traded at $0.44. Featured image created with DALL.E, chart from TradingView.com
The XRP price is consolidating after a crazy 460% surge within four weeks that saw it breaking above $2.8 on December 3 for the first time since 2018. This consolidation saw the XRP price dropping to $2.22 on December 5 as many investors took some profits after the rally. Related Reading: Market Expert: Not Long On XRP? You’re ‘Disrespecting’ Yourself Interestingly, on-chain data shows that XRP whales have taken advantage of this dip to stock up their holdings to essentially prevent further price declines. With this in mind, technical analysis of the coin’s price chart shows that the cryptocurrency is well on track to breaking above the $5 price level in the next three days. Technical Analysis Suggests Breakout To $5.26 By December 11 Amidst the backdrop of whale activity and price consolidation, technical analysis is now pointing to the possibility of the XRP price surpassing the $5 mark within the next three days. This rally hinges on XRP breaking through key retracement levels like it did in November. Interestingly, a crypto analyst (CryptoInsightUK) outlined a compelling case for the altcoin’s next price target, citing a historical pattern in the asset’s movement. His analysis, shared on the social media platform X, highlights how XRP’s range-based corrections often find resistance at the 0.5-0.618 Fibonacci retracement levels. Once these levels are breached, the price tends to rally swiftly toward the 4.236 Fibonacci extension. During XRP’s last breakout, it took just over three days to reach the 4.236 Fibonacci extension after breaking through retracement resistance. During that time, the price surged from below $1.46 to reach $2.9 on crypto exchanges within three days and 17 hours. Based on the current price chart, XRP is once again trading between the 0.5 to 0.618 Fibonacci retracement levels drawn from the recent high of $2.9. If a similar trajectory were to play out, this should push the XRP price on another rally to reach $5.26 by December 11. Such a move would see the XRP price rapidly breaking above its current all-time high of $3.40 that has stood for almost seven days. Interestingly, analyst CryptoinsightUK suggests that the predicted move could unfold even faster this time due to increased market velocity. Whale Accumulation Supports Bullish Price Outlook The behavior of XRP whales is a key factor bolstering the bullish sentiment. Fortunately, on-chain data shows significant whale accumulation during the recent price dip, with some investors purchasing the crypto in bulk. As noted by Santiment data, XRP addresses holding 1 million to 10 million tokens have purchased over 120 million XRP worth $288 million since December 5. This accumulation serves a dual purpose. Not only does it prevent further price declines, but it also provides the liquidity necessary for the next upward movement. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst At the time of writing, XRP is trading at $2.54. Featured image from Fortune, chart from TradingView
Ethereum (ETH) continues to spark bullish talk in the cryptoverse, as well known analysts see large price moves ahead. According to Venture Founder, Ethereum is forming a rising three-year triangle pattern, which could set the stage for a possible breakout. Based on similar comparisons to data from 2016-2017, the altcoin will hit $15,937, probably by May of 2025. Related Reading: Countdown To $5 XRP: Engineer Predicts Milestone On ‘Strong Fundamentals’ Such a rise would take Ethereum’s market capitalization beyond $1 trillion, a historic first for the blockchain behemoth. Analysts view a weekly close above $3,800 as a significant milestone. From there, Ethereum might aim for its all-time high of $4,878 before moving on to higher grounds. But is the market prepared for this upswing? This $ETH breakout out of the triangle consolidation is very significant. Now #Ethereum only has to close this weekly candle bullish, and we may never revisit this sub $4,000 level again in this bull cycle. The impulse move from 2016-2017 is repeating. PT: $15,937 by May 2025 pic.twitter.com/dNzcO3mPe1 — venturefounder (@venturefounder) December 6, 2024 Institutional Interest Drives Optimism More institutions are becoming interested in Ethereum, which makes people more optimistic about its long-term prospects. Spot Bitcoin ETFs got a lot of attention at the beginning of the year, and now Ethereum-based funds are following suit. Notably, since the middle of November, spot Ether ETFs have gotten more than $1.3 billion in fresh inflows. The iShares Ethereum Trust from BlackRock has made the most returns, $500 million in just one week. Beyond just numbers, these investments show a rising trust in the Ethereum ecosystem. According to analysts, this institutional funding flow will pave the way for ETH’s anticipated meteoric rise. With institutional investors continuing to pour money into the cryptocurrency, Ethereum’s value proposition as a long-term investment appears stronger than ever. Technical Indicators And Forecast The recent weeks’ price behavior of Ethereum has also been rather favorable. Following a little setback, the altcoin has recovered, climbing 30% starting in November 18. With analysts underlining its resilience against market swings, it is trading at $3,686 right now, which is a solid figure. Technical markers of consolidation point to ETH getting ready for its next action. Moving averages show stability, hence the Relative Strength Index (RSI) stays neutral. Forecasts show ETH perhaps rising by 43% in six months and 22% in three months, data from CoinCheckup shows. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst Looking Ahead The signals point favorably even though Ethereum’s route to reach $15,937 is undetermined. With favorable technical conditions, institutional inflows, and strong ecosystem development, the altcoin is primed for major increases. Featured image from INX, chart from TradingView
Recent price action has seen the Ethereum price breaking above the $4,000 price level again to drive euphoria among crypto investors, especially those awaiting the onset of an altcoin season. This price rally follows an unprecedented surge in Ethereum Spot ETF inflows, which hit a record $428 million on December 5 as investors continue to anticipate crypto-positive regulatory changes under the incoming Trump administration. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst Interestingly, this bullish momentum has seen the Ethereum price play out an interesting motion on its price chart. Particularly, Ethereum has broken above a massive triangle on the weekly timeframe chart, which points to an incoming price rally. $10,000 Target In Sight As Bull Run Builds Up Steam According to technical analysis posted on social media platform X by crypto analyst Captain Faibik, the recent Ethereum price rally has seen the cryptocurrency breaking out of the upper trendline of a triangle formation. This breakout is particularly significant, as it is out of a triangular formation that has been in play for three years. As shown by the ETHUSDT weekly timeframe chart below, the triangular pattern has been in play since the Ethereum price reached its current all-time high of $4,878 in November 2021. This pattern has been highlighted by a series of lower highs and higher lows, which have seen the Ethereum price trading in an increasingly tightening range. However, in light of the recent breakout to the upper end, Captain Faibik declared that Ethereum’s long-anticipated 2024-2025 bull run has “officially started.” In terms of a price target, the analyst highlighted a run towards $10,000, which would see the Ethereum price breaking into new all-time highs. On-Chain Data Points To New All-Time High The bullish momentum for Ethereum is supported by strong on-chain metrics, particularly a notable rise in large transactions. According to data from IntoTheBlock, the volume of transactions worth $100,000 or more has increased by over 300% in the past week, reaching a cummulative $86.15 billion in the past seven days and $17.15 billion in the last 24 hours. This surge in high-value transactions indicates growing participation from institutional investors and high-net-worth individuals, further bolstering Ethereum’s price outlook to $10,000. Additionally, Ethereum’s profitability metrics highlight favorable conditions for further growth. As crypto analyst Ali Martinez pointed out, there is nothing preventing the Ethereum price from reaching new all-time highs. As it stands, the only minor resistance level ahead is at $4,540. Regardless, with the $3,560 demand zone acting as a strong support level, Ethereum’s trajectory appears firmly tilted toward the bulls. Related Reading: Countdown To $5 XRP: Engineer Predicts Milestone On ‘Strong Fundamentals’ At the time of writing, Ethereum is trading at $4,010, up by 8% in the past 24 hours. Featured image from Medium, chart from TradingView