In a recent interview with CNBC, Eric Trump, executive vice president of the Trump Organization and son of president-elect Donald Trump, articulated a vision for the United States to become the leading global hub for crypto. Eric Trump emphasized that a set of “sensible” regulatory guidelines could pave the way for this transformation, particularly in […]
El Salvador is on the verge of reaching a big financial agreement with the International Monetary Fund (IMF), with plans to finish a $1.3 billion loan program within the next two to three weeks. The country will change its use of Bitcoin (BTC) as legal tender and take steps to lower its government deficit. According […]
Popular stablecoins, or digital assets designed to have a “relatively stable price,” are getting noticed by policymakers. While these crypto units are more stable than their counterparts, a recent Financial Services Oversight Council (FSOC) report suggests they can pose risks to the financial markets. Related Reading: Bitcoin Goes Tax-Free In Czech Republic For Long-Term Holders […]
The recent Bitcoin price surge, which surpassed $100,000 for the first time, is creating ripples in the long-struggling crypto lending sector, particularly through decentralized finance (DeFi) applications. According to a Bloomberg report, the speculative excitement surrounding Bitcoin has not only invigorated its trading but is also spilling over into lending platforms, signaling a potential resurgence […]
A financial commentator warned that Bitcoin could potentially weaken the US dollar if the government would intervene in the cryptocurrency. Economist Peter Schiff believes that if the American government decided to adopt the firstborn crypto, it would have an adverse effect on the greenback by inflating the money supply. Related Reading: Crypto Czar Crowned: David […]
Ethereum (ETH) appears to be finally waking up from its slumber as the second-largest cryptocurrency by market cap has jumped 8% in the past 24 hours, surpassing the key $3,800 price level. Is An ETH God Candle On The Horizon? Ethereum’s rise appears to align with declining Bitcoin (BTC) dominance. This important metric is tracked to gauge the proportion of the total crypto market cap commanded by the top cryptocurrency. Related Reading: Ethereum Jumps 10% As DeFi Sentiment Rebounds With Trump’s Victory According to the chart below, BTC dominance has been falling dramatically over the past two weeks – sliding from 61.1% on November 20 to 54.9% at the time of writing. As previously reported, trading firm QCP Capital highlighted BTC dominance sliding below 58% as a key condition that could signal the onset of the altcoin season. With ETH now surpassing the $3,800 level, analysts are weighing in on how far the digital asset can rally. Crypto analyst @venturefounder shared his target for ETH on X, pointing to a prolonged cup-and-handle pattern forming for ETH since November 2021. He noted that if ETH decisively breaks $3,800, it could climb as high as $7,346. Similarly, crypto analyst Ali Martinez shared his insights on ETH’s recent price action. Martinez emphasized that the $3,300 support level could be a ‘potential buying opportunity’ should the digital asset pullback from its recent surge. Martinez added that his mid-term target for ETH remains $6,000, while the long-term target is $10,000. The analyst also highlighted the Ethereum network’s steady growth over the past month, with more than 134,000 new Ethereum addresses added daily. Another crypto enthusiast, @MisterSpread noted that if ETH breaks the $4,000 area, there is a “high chance we see a God candle to $5,000.” Indeed, ETH breaking out of a three-year long downtrend and attempting to establish a new all-time high (ATH) has piqued the attention of the entire crypto industry. Ethereum Fundamentals Continue Getting Stronger Although BTC has led much of the current crypto rally, experts believe Ethereum might be the time to shine due to the multiple positive developments in the top smart contract platform. For instance, Ethereum exchange-traded funds (ETF) are finally attracting large daily inflows, rivaling BTC ETFs consistently. Further, several proposed network upgrades – including the Ethereum Improvement Proposal-7781 and the possibility of reduction in the amount of ETH required to participate in network staking could serve as catalysts for ETH to hit a new ATH. That said, concerns remain about ETH’s ‘ultrasound money’ narrative due to the inflation surge witnessed in the cryptocurrency’s issuance rate. ETH trades at $3,820 at press time, up 8 % in the past 24 hours. Featured image from Unsplash, Charts from X.com and Tradingview.com
Russian President Vladimir Putin has made headlines with his recent remarks on using Bitcoin and the need for his country to reconsider its reliance on foreign currency reserves. Russian President Emphasizes Bitcoin’s Role Speaking at an investment conference in Moscow, Putin argued that the current geopolitical climate, particularly following the West’s freezing of approximately $300 […]
President-elect Donald Trump is set to nominate former SEC Commissioner Paul Atkins to lead the Securities and Exchange Commission (SEC), reinforcing his commitment to a crypto-friendly administration. This announcement follows the resignation of current SEC Chair Gary Gensler, whose last day in office will coincide with Trump’s inauguration on January 20. Clearer Crypto Regulations Ahead? […]
With a second Donald Trump administration and friendlier crypto regulations on the horizon, many crypto investors and personalities have drawn their lines. Brian Armstrong, Coinbase CEO, said it’s time to work only with companies and personalities with the same commitment to crypto and the blockchain. Related Reading: Bitcoin And Ether ETFs Set Record $7.6 Billion […]
Ripple’s XRP cryptocurrency continues its impressive rally, recently surpassing Tether (USDT) in reported market capitalization to become the third-largest cryptocurrency, behind Bitcoin (BTC) and Ethereum (ETH). XRP Flips USDT As Crypto Market Cap Shoots Past $3.6 Trillion Alongside BTC, several cryptocurrencies, including Solana (SOL), and Sui (SUI), have shown exceptional performance during the ongoing crypto […]
Cryptocurrency firms in South Korea would have some breathing room before they start paying capital gains tax as the government decided to delay its implementation by two years. South Korean legislators agreed not to impose the crypto taxation policy next year, moving its implementation to 2027. Related Reading: Michael Saylor’s Thanksgiving: A Crypto Feast Featuring […]
Shiba Inu (SHIB) is stirring up excitement again. The meme-based cryptocurrency has seen bullish momentum lately, grabbing the attention of investors and analysts alike. But is this rally sustainable, and could SHIB really soar to the heights some experts are predicting? Related Reading: Cardano To Hit $10? Analyst Thinks It’s Happening This Cycle Crypto analyst Javon Marks thinks so. He just recently published insights suggesting SHIB may be targeting $0.000081, a massive 179% jump from where it is today. The market has been very unpredictable, but Marks said that this breakout is a sign of strength. Is this enough to keep SHIB in the spotlight? Bullish Signals Shine Bright Recent success by Shiba Inu in closing above important resistance levels has revived expectations for more gains. Technical successes along these lines are suggestive of good buy order accumulation. When SHIB continues on this trend, then reaching the $0.000081 target is not very far-fetched. $SHIB (Shiba Inu), after recently confirming another bull pattern, looks to be further joining the bull show as prices are now showing signs of MAJOR STRENGTH! With holding breakouts implying that $0.000081 target to still be in play, these prices can be subject to another… https://t.co/CKpxZb7CMh pic.twitter.com/lu2QT5FzEg — JAVON⚡️MARKS (@JavonTM1) December 1, 2024 At the time of writing, SHIB was trading at $0.00003061, which is an increase of 13% in the last 24 hours. That is no small achievement in a volatile market. According to analysts, for SHIB to keep on moving upward, maintaining support levels will be of prime importance. It is not about breaking resistance; it is also about staying above it. Recent Setbacks And Market Volatility However, not all has been smooth sailing. SHIB saw a slight pullback recently, dropping to $0.000029 after losing 6% in a single day. This decline mirrors a broader market slump, with the total crypto market cap shrinking by 6%. Even against Bitcoin, SHIB stumbled, recording a 4% loss. With these fluctuations, one can see the risks that crypto trading poses. Investors should wait for clear breakout confirmations and keep an eye on broader market trends. Short-term price movements are always misleading, so patience is key. The Road Ahead For Shiba Inu Beyond price movements, there are strategic moves made on the part of Shiba Inu to evolve its ecosystem. Developers are working on advanced integration of blockchain technologies to boost utility. Smarter contract platforms can transition it from a mere meme coin to a valuable tool for decentralized applications (dApps). The whole shift might attract long-term investors to look for more than speculative gain. Related Reading: As Bitcoin Nears $100,000: “Don’t Be Left Behind,” Robert Kiyosaki Says Meanwhile, as the memecoin’s journey to $0.000081 is ambitious, the short-term to medium-term performance of Shiba Inu is quite robust, showing a 109% increase in the last three months. If the bullish trend is sustained and it takes advantage of the technology involved, even the critics will be surprised. For now, it is all about watching the key price levels and navigating through the volatile crypto waters. As always, investing in SHIB – or any crypto for that matter – carries risks, but the potential rewards continue to captivate many. Featured image from DALL-E, chart from TradingView
Switzerland has officially passed legislation to explore Bitcoin mining, signaling a growing acceptance among traditional financial institutions and governments worldwide. This initiative, reported by Dennis Porter, CEO of the Satoshi Action Fund, reflects a broader trend accelerated by recent political shifts, including Donald Trump’s election, which have reignited interest in Bitcoin as a viable financial […]
A cryptocurrency firm plans to completely halt the operation of its NFT marketplace early next year, a decision that might have a great impact on the NFT space. Analysts find this move of Kraken somewhat unexpected, raising questions on what the future holds for NFTs considering Kraken is a major player in these type of […]
Chris Giancarlo, a leading candidate to head the US Commodity Futures Trading Commission (CFTC) and author of the book “Crypto Dad,” recently addressed key aspects of President-elect Donald Trump’s ambitious plans for the crypto sector. In an interview with Fox Business, Giancarlo highlighted Trump’s vision of making the United States the global hub for cryptocurrency […]
As President-elect Donald Trump prepares to finalize his cabinet picks, Paul Atkins is reported to be a leading candidate to head the US Securities and Exchange Commission (SEC) and a new pro-crypto agenda under Trump’s new administration. According to Bloomberg sources familiar with the matter, Atkins has been interviewed by Trump’s transition team, positioning him […]
Prometheum, a firm that has garnered attention for its first-of-its-kind license to operate in crypto-based securities, finds itself at a crossroads. The firm has positioned itself within the regulatory framework established by the US Securities and Exchange Commission (SEC) under its chair, which has taken a tough stance on crypto classifications. However, with leadership changes […]
Central banks face mounting pressure to innovate, or risk falling behind in the digital currency race, with implications for national security and financial stability.
With President-elect Donald Trump set to begin his second term in the White House on January 20, Bloomberg reports that Wall Street is preparing to launch a new wave of financial products that invest in the crypto market. ‘Wild West’ Era For Crypto ETFs In the lead-up to Trump’s second term, executives and legal experts […]
If Senator Ted Cruz of Texas gets his way, he wants the state to be the “oasis of Bitcoin.” For Cruz, the primary hurdle to full Bitcoin adoption is the federal government itself, particularly its left-leaning policies. Related Reading: Ripple CEO Reacts To Trump’s Billionaire Treasury Secretary Nominee The state of Texas, he says, can […]
As President-elect Donald Trump prepares to assume office on January 20, 2025, the cryptocurrency industry is optimistic for a new regulatory era. The Blockchain Association, a nonprofit organization focused on promoting innovation and fostering a supportive policy environment for digital assets, has taken the initiative to communicate its priorities directly to the incoming administration and […]
Bitcoin and crypto ownership in China have been debated and have raised policy questions for years. But a recent Shanghai court ruling clarified that it’s perfectly legal for citizens to hold, buy, and sell Bitcoin or other cryptocurrencies. Related Reading: XRP Gains Momentum: Whale Activity Points To $15 Breakthrough Judge Sun Jie of the Shangai Songjiang People’s Court explained in an article via WeChat that it’s not illegal for Chinese citizens to hold cryptos, even though the courts have already ruled that business entities are not allowed to keep, buy, or sell cryptocurrencies at will. Jie’s insights were part of a case review on a lawsuit involving two companies in an initial coin offering that’s illegal in the country. Coin Offerings Remain Illegal Judge Sun Jie’s comments were part of a case review involving two companies engaged with digital assets in 2017. According to records, an agricultural company expressed its intention to finance a digital asset. It then worked with an investment company to draft its whitepaper and issue the tokens. A Shanghai court has released an opinion stating that the personal ownership of cryptocurrencies is not against Chinese law, offering explicit legal clarity for crypto holders on the mainland amid a record-setting bitcoinprice surge. Sun Jie, a judge at the Shanghai Songjiang… pic.twitter.com/NfclXYh3o7 — Visegrád 24 (@visegrad24) November 21, 2024 Then, the agricultural company approved a Blockchain Incubator Agreement with the investment firm. After drafting the token’s whitepaper, the investment company was paid 300,000 Yuan for its services. Under this premise, the agricultural company expected that the investment firm would release the tokens. It was the start of a misunderstanding, leading the company to seek a full refund. Planned Token Financing And Release Is ‘Potentially Illegal’ In Judge Jie’s notes, the planned financing and release of these tokens are potentially illegal. The planned initial coin offering falls under unlawful public financing. The court has ruled that no organization or individual can illegally finance or issue digital assets. The complaint of the agricultural company is deemed invalid by the court since the planned financing and token release would have been illegal. Still, the court instructed the investment firm to reimburse 250,000 yuan after careful evaluation. Related Reading: Solana Market Cap Hits Milestone: $400 Price Target Gains Traction Court Raises Risks Of Cryptocurrencies In the same notes, Judge Sun Jie explained that holding cryptocurrencies is not illegal. However, she explained that the Chinese government imposes strict restrictions because of the risks involved. However, the rules on cryptocurrencies change in business since crypto use can impact the financial and economic order. Judge Sun Jie says these are the primary reasons why Chinese laws impose strict rules on the use of cryptocurrencies. China first banned initial coin offerings and closed online crypto exchanges in 2017. The authorities continued their campaign against crypto in 2021 and even banned mining and other cryptocurrency-related businesses. Featured image from DALL-E, chart from TradingView
As President-elect Donald Trump prepares to take office in January, a significant development is unfolding in the crypto space: Chris Giancarlo, nicknamed “Crypto Dad”, is emerging as a frontrunner for the newly proposed position of “crypto czar”. This role is intended to guide the administration’s approach to the $3 trillion digital asset market, according to […]
The US Bitcoin and crypto market have been on uncharted waters recently, and many are excited and optimistic. Charles Schwab, a leading financial company with $7 trillion in assets, is one of the recent companies taking an interest in this “hot industry.” Related Reading: Trump Enters The Crypto Arena With Bakkt Acquisition – Details According […]
In recent months, the Securities and Exchange Commission (SEC) under Gary Gensler has been under fire over its “regulation-by-enforcement” policy, and many are looking for clarity in crypto rules. Related Reading: Japanese Crypto Entrepreneur Sparks Controversy: ‘Yen Is Backed By Hostages’ Today, the crypto industry moved a few steps into clarity when a Texan federal […]
President-elect Donald Trump’s media company is reportedly considering the launch of a crypto payment service, as indicated by a recent trademark application filed with the US Patent and Trademark Office. Exploring New Horizons The application, submitted on Monday, pertains to a service named “TruthFi,” which is envisioned as a platform for crypto payments, financial custody […]
In a significant win for the crypto market, US Securities and Exchange Commission (SEC) Chair Gary Gensler has announced he will step down from his position on January 20, 2025, coinciding with the presidential inauguration of President-elect Donald Trump. This news has been met with optimism among crypto advocates, who view Gensler’s departure as a […]
A prominent player has dominated the limelight in the crypto circle by buying more than 105 billion PEPE tokens at a cost of $2 million. The token has fluctuated wildly over the course of the last several months and this particular exchange on November 20, has caused significant interest due to its enormity and the prevailing market tendencies. Related Reading: Upbit Listing Sends BONK Skyrocketing 67% For A Fresh ATH In Memecoin Mania Investor Confidence In The Face Of Volatility A bold move from an anonymous investor comes at a time when the meme coin is seeing some volatility. PEPE has been down, trading at about $0.00002027 as of November 19 after hitting an all-time high of about $0.00002457 earlier this month. Based on data from Lookonchain, the unknown investor shelled out $2 million worth of USDC to purchase 105,328,301,633 (approximately 105.33 billion) PEPE in a single transaction. Someone spent 2M $USDC to buy 105.33B $PEPE in a single transaction! Address: 0xd71c6b3760cfd22e50e5514d163986552a96930b pic.twitter.com/kDKmgptPEc — Lookonchain (@lookonchain) November 21, 2024 The investor thought it would be smart to buy more of the joke cryptocurrency at a lower price, even though the price was going down. Some investors might agree with the choice. This includes “whales,” who have been buying PEPE during market swings. PEPE: Market Trends And Performance Since its April 2023 launch, PEPE has undergone significant transformation. Starting extremely modest at $0.00000001, its market value skyrocketed in a few weeks to over $1 billion. This coin got rather more well-known as prominent exchanges like Robinhood and Coinbase started trading it. Still, PEPE is vulnerable to market patterns swayed by more general economic events and social media, just as many cryptocurrencies are. Among the meme coins that have lately gone somewhat popular are PEPE, Dogecoin, and Shiba Inu. Actually, PEPE saw an amazing increase of more than 106% just in mid-November. Prospects And Obstacles Although the recent acquisition indicates robust investor interest, PEPE and comparable meme currencies are confronted with numerous obstacles. Market volatility continues to be a significant concern, as prices can fluctuate significantly in response to regulatory news or social media trends. Related Reading: Poland Could Lead With Bitcoin Reserve, Presidential Hopeful Says PEPE’s standing in the market could potentially be impacted by rival coins. To maintain its drive, PEPE needs to draw in fresh investors while also showing practical usefulness that goes beyond its status as a joke. For those investors pondering an initiation or increase of their stakes in meme currencies like PEPE, keeping abreast with the shifting rhythm and patterns of the cryptocurrency ecosystem is of utmost importance, given its constant advancement. The most recent large-scale transaction is indicative of the risks and opportunities that are inherent in this rapidly evolving market. Investors are closely monitoring the outcome of this audacious maneuver to determine whether it will prove advantageous or whether the volatile nature of cryptocurrencies will generate additional uncertainty in the near future. Featured image from DALL-E, chart from TradingView
In a step toward regulatory clarity for Bitcoin holders in China, a Shanghai court has issued an opinion stating that personal ownership of digital assets is not illegal under Chinese law. Personal Bitcoin Ownership Legal The opinion, articulated by Sun Jie, a judge at the Shanghai Songjiang People’s Court, was published on the official WeChat […]
On Wednesday afternoon, Bitwise Investment, a prominent asset manager and exchange-traded fund (ETF) issuer, submitted an S-1 form application for a spot Solana ETF to the US Securities and Exchange Commission (SEC) in the state of Delaware. This move positions Bitwise in the race for regulatory approval to launch an index fund that invests in […]