Just seven weeks before Donald Trump takes office, the crypto industry’s expectations of a friendlier administration and better regulations in the next four years continue to rise. Coinbase’s Chief Policy Officer (CPO), Faryar Shirzad, suggested that after January 20, 2025, legislation related to the digital assets sector will quickly pass through the new US Congress. […]
Ethereum (ETH) now offers an attractive risk-reward ratio, according to analysts at research and brokerage firm Bernstein. Despite underperforming compared to other major cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP for most of 2024, Ethereum’s strong fundamentals may set the stage for a potential rally. Why Is Ethereum Struggling? Bernstein Analysts Explain Ethereum, the second-largest cryptocurrency with a market cap exceeding $430 billion, may be on the verge of significant positive price action. Bernstein analysts suggest that ETH’s fundamentals remain strong despite its underperformance, making it an appealing investment opportunity. To put Ethereum’s performance into perspective, on a year-to-date (YTD) basis, Bitcoin and Solana have surged 125% and 122%, respectively, while ETH has only managed a 57% increase. In a client note shared today, analysts led by Gautam Chhugani highlighted several factors contributing to Ethereum’s struggles. One issue is that ETH has not established itself as a store of value to the same extent as BTC. Additionally, the leading smart contract platform faces increasing competition from low-latency Layer 1 blockchains such as Solana, Sui, and Aptos. Related Reading: Ethereum Accumulation Rises As 70% Holders Are In Profit: What It Means For ETH Price? The note also pointed out that Ethereum’s reliance on Layer 2 blockchains, including Optimism, Arbitrum, and Base, often redirects users away from Ethereum’s main chain. This hampers user retention and limits transaction fee growth, creating a headwind for ETH’s price momentum. Is Now The Right Time To Buy ETH? Bernstein analysts argue that Ethereum’s outlook could improve substantially, particularly in light of Republican presidential candidate Donald Trump’s recent election victory. Following Trump’s win, the total cryptocurrency market cap has surged over 45%, surpassing $3.5 trillion. Ethereum has been one of the biggest beneficiaries of this rally, gaining 46% since the election compared to Bitcoin’s 41% and Solana’s 36%. The analysts also noted key developments that could support Ethereum’s growth moving forward. They highlighted the increasing likelihood of staking yield approval in Ethereum exchange-traded funds (ETFs) under a Trump-led, crypto-friendly Securities and Exchange Commission (SEC). The analysts explained: We believe, under a new Trump 2.0 crypto-friendly SEC, ETH staking yield will likely be approved. The analysts added that Ethereum’s current yield rate of 3% could increase to as high as 4% to 5%, which could be an attractive yield rate for investors in a declining interest rate environment. Further, the recently observed growth in Ethereum ETFs in the form of higher inflows could benefit ETH. Although ETH ETFs had a lukewarm launch, they have recently outperformed Bitcoin ETFs in daily inflows. For instance, on November 29, spot ETH ETFs in the US attracted $332.9 million in inflows, compared to $320 million for Bitcoin ETFs. Related Reading: Ethereum Spot ETFs Attract Record $295 Million Daily Inflows – Is ETH Set For New Highs? In addition, Ethereum’s transition to a proof-of-stake (PoS) consensus algorithm in September 2023 and the protocol’s burn mechanism have stabilized ETH’s total supply around 120 million. Of these, about 28% is tied in staking contracts while roughly 10% is in lending protocols or Layer 2 bridges. With a high proportion – close to 60% – of total ETH supply unmoved in the past year, the analysts at Bernstein believe the digital asset might benefit from favourable demand-supply dynamics. At press time, ETH trades at $3,644, down 1.8% in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
The former Binance CEO already pleaded guilty to one felony charge and served four months in prison, but receiving a presidential pardon could present certain opportunities.
Former Binance CEO Changpeng Zhao has hinted at his willingness to receive a pardon from President-elect Donald Trump. In a Dec. 2 post on X, Zhao said that while he has no plans to return as Binance’s CEO, he would welcome such a gesture from the President. He stated: “No wish to be CEO again. […]
The post Ex-Binance chief Changpeng Zhao eyes Presidential pardon, backs Donald Trump’s crypto vision appeared first on CryptoSlate.
XRP has made a historic comeback as the third-largest coin by market cap, the number of “XRP” Google searches breaking above “crypto.”
Bitcoin mining firm MARA – formerly known as Marathon Digital – has announced the acquisition of an additional 703 BTC. This purchase increases the company’s total cryptocurrency holdings to 34,794 BTC. MARA’s Bitcoin Holdings Surge To 34,794 As CEO Shares Bullish Outlook In an announcement made yesterday on X, MARA, one of the world’s leading Bitcoin mining companies, revealed it had acquired 703 BTC at an average price of $95,395. This brings the firm’s total Bitcoin purchases for November to 6,474 BTC, following last week’s acquisition of 5,771 BTC. Related Reading: This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC The latest purchase has increased the firm’s total digital asset holdings to 34,794 BTC, valued at approximately $3.3 billion at current market prices. Additionally, the firm disclosed that its year-to-date (YTD) BTC yield per share stands at 36.7%. Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due in 2030. A portion of the $200 million funds was used to buy back some of its 2026 notes. The firm has also reserved $160 million from the proceeds, intending to deploy it for future Bitcoin purchases if market prices become favorable. As reported yesterday, MARA CEO Fred Thiel – in an interview with CNBC – remarked that more institutional investors are interested in BTC, hoping that a Donald Trump administration will bring about favorable cryptocurrency regulations in the US. MARA stock closed at $26.92 on November 27, recording an increase of 7.81% for the day. In the last six months, the share price has increased by 26.92%, coinciding with rising optimism toward digital assets as market sentiment improves with changes in government administration. Corporate Moves Could Push Bitcoin Beyond $100,000 MARA’s aggressive Bitcoin acquisition strategy mirrors that of MicroStrategy, which has the largest Bitcoin holdings globally. Under Michael Saylor’s leadership, MicroStrategy has spent billions on Bitcoin purchases this month, totaling $4.6 billion and $5.4 billion in back-to-back weeks. Related Reading: Bitcoin Soars Past $82,500 As MicroStrategy Makes Major 27,200 BTC Purchase As President-elect Trump’s January 20th inauguration date approaches, many corporations worldwide are warming up to adding BTC to their balance sheets. Most recently, Canada-based online video-sharing platform Rumble earmarked $20 million for future BTC purchases. Similarly, Japanese early-stage investment firm Metaplanet’s total BTC holdings recently crossed 1,000 BTC. The race for amassing as much BTC as possible has sparked some enthusiasm among crypto analysts who foresee the digital asset breaching the $100,000 milestone early next year. BTC trades at $95,615 at press time, up 1% in the past 24 hours. Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
Spot Ether ETFs racked up $224.9 million in net inflows over the last four trading days — around $190 million more than the spot Bitcoin ETFs.
As Bitcoin is regaining significant upward strength, a notable trend has been spotted among long-term holders as indicated by a huge drop in the average age of wallets holding BTC. The trend demonstrates shifting market dynamics, prompting the modification of positions by retail and institutional players in anticipation of future price fluctuations. A Persistent Drop […]
Bitcoin (BTC) remains resilient, trading close to the $100,000 mark despite a recent correction that led to over $500 million in liquidations, predominantly from long positions. A recent report by Glassnode analyzes the cohorts driving the sell-side pressure during this ongoing bull run. Majority Of Sell-Side Pressure Coming From New Market Entrants According to Glassnode’s report titled “The Week Onchain,” while some long-term Bitcoin holders realize substantial profits – amounting to over $2 billion in a single day – not all are willing to part with their holdings. Related Reading: Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What’s Next The report highlights that the Long-Term Holder (LTH) cohort is capitalizing on the inflow of liquidity and strong demand to sell BTC near all-time high (ATH) price levels. Glassnode notes: Since the peak in LTH supply set in September, this cohort has now distributed a non-trivial 507k BTC. This is a sizeable volume; however, it is smaller in scale relative to the 934k BTC spent during the rally into the March 2024 ATH. The report breaks the LTH cohort into sub-cohorts based on realized profit metrics to understand the sell-side dynamics better. It reveals that holders who acquired BTC 6 months to 1 year ago contribute the most to sell-side pressure, realizing $12.6 billion in profits, accounting for 35.3% of all realized gains. Other sub-cohorts have realized comparatively smaller profits, including $7.2 billion by those holding BTC for 1 to 2 years, $4.8 billion by those with 2 to 3 years of holdings, $6.3 billion by 3 to 5-year holders, and $4.8 billion by investors holding for more than 5 years. The report adds: The dominance of coins aged 6m-1y highlights that the majority of spending has originated from coins acquired relatively recently, highlighting that more tenured investors are remaining measured and potentially waiting patiently for higher prices. This pattern suggests that heightened profit-taking among holders in the 6-month to 1-year range indicates the cohort is dominated by newer investors, many of whom likely entered the market following the launch of Bitcoin exchange-traded funds (ETF). Their strategy appears to involve short-term gains, riding the wave of the current market surge. Bitcoin Adoption Continues To Grow Around The Globe While the recent price pullback may have cautioned some investors, others opine that it was a healthy correction that gives the leading cryptocurrency some time for consolidation before the next leg up. Related Reading: Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale Bitcoin’s unprecedented price has created a shared urgency among corporations and nations worldwide. Following MicroStrategy’s tactics, Canadian company Rumble recently announced it would use a portion of excess cash reserves to buy BTC. Most recently, CEO of Marathon Digital Holdings, Fred Thiel, said institutional interest in BTC has increased significantly since Donald Trump’s victory in the 2024 elections. BTC trades at $95,462 at press time, up 2% in the past 24 hours. Featured image from Unsplash, charts from Glassnode and Tradingview.com
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 […]
According to a report by Fox Business, citing sources familiar with the matter, the incoming Donald Trump administration may empower the Commodity Futures Trading Commission (CFTC) to regulate certain crypto assets. SEC’s Crypto Loss Is CFTC’s Gain With nearly two months remaining before Trump assumes the US presidency, the incoming Republican administration is already making […]
A significant drop in Bitcoin reserves on exchanges is the evidence of rising self-custody adoption, Trezor chief commercial officer Danny Sanders said.
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 […]
Gary Gensler is going, but the lawsuits against crypto firms may continue — until Congress defines how securities laws apply to digital assets.
Semler Scientific, a Nasdaq-listed healthcare technology firm, has acquired an additional 297 Bitcoin (BTC) for $29.1 million. The purchase comes as Bitcoin edges closer to the highly anticipated $100,000 milestone. Semler Scientific Expands BTC Holdings The company disclosed its latest BTC acquisition earlier today, coinciding with a slight pullback in BTC’s price from its recent […]
Recent data from market intelligence firm Arkham Intel reveals that President-elect Donald Trump’s crypto portfolio has seen significant gains, coinciding with a robust uptrend in crypto prices following his election victory on November 5. Despite Bitcoin (BTC) being at the center of Trump’s presidential campaign, one notable asset among his holdings is Ethereum (ETH), of which he owns nearly 496 coins. This altcoin has been the standout performer among his investments, rising 38% over the past thirty days. Trump’s Crypto Holdings Shine Crypto analyst Michael van de Poppe pointed out a bullish divergence on Ethereum’s daily chart, suggesting that the current market dynamics are ripe for further growth. The analyst identified a key driver behind ETH’s recent performance: a significant drop in government bond yields. As these yields decline, van de Poppe suggests that investor interest in riskier assets like Ethereum tends to increase, propelling prices higher. Related Reading: Historic Bitcoin Buy: MicroStrategy Adds 55,500 More BTC To Its Portfolio For $5.4 Billion Van de Poppe elaborated that the ongoing fluctuations in the yield markets could significantly impact Ethereum’s trajectory. With Labor Market Week approaching, he speculated that if economic indicators are weak, the Federal Reserve might implement more rate cuts. Such actions would likely lead to lower yields, further boosting Ethereum’s price. Another analyst, Jesse Olson, echoed this optimistic outlook, noting that Ethereum’s dominance over Bitcoin is showing signs of a bullish divergence. His analysis indicates that positive momentum could soon lead to significant buying opportunities for ETH. As a result of these developments, Trump’s crypto holdings have surged by nearly $1.6 million within the past 24 hours, reflecting the positive market sentiment surrounding Ethereum and other tokens in his portfolio. Major Investment From TRON Founder In a related development, crypto entrepreneur Justin Sun has emerged as a major investor in Trump’s World Liberty Financial, committing $30 million to the decentralized finance (DeFi) project. Sun, the founder of the TRON cryptocurrency, declared his support for Trump’s vision of turning the US into a blockchain hub. He noted, “TRON is committed to making America great again and leading innovation,” highlighting the project’s ambition to democratize financial services by eliminating intermediaries. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance World Liberty Financial, which was launched shortly after Trump survived a second assassination attempt, aims to raise $300 million at a valuation of $1.5 billion. However, the project has recently revealed that its WLF token offerings are primarily being marketed offshore, with only $30 million set aside for US investors. Once this threshold is met, the US offering will close, despite having a substantial amount of tokens still available for sale. Trump is also reportedly in discussions for the acquisition of the digital asset marketplace Bakkt Holdings Inc. through Trump Media & Technology Group Corp., which he controls. At the time of writing, ETH was trading at $3,435, up 2.4% for the 24-hour period. Featured image from CFR, chart from TradingView.com
Justin Sun has purchased $30 million worth of tokens from Donald Trump’s World Liberty Financial, making him the largest investor to date.
Another amended filing signals continued progress toward bringing a diversified cryptocurrency index fund to US exchanges.
On Monday, it was announced that asset manager WisdomTree has entered the race for a spot XRP ETF. The move comes at a pivotal time, marked by expected leadership changes at the US Securities and Exchange Commission (SEC) and the recent election of Donald Trump. XRP ETF Applications Surge WisdomTree joins a growing list of […]
The price of Bitcoin (BTC) rose by 7.99% in the past week to reach a new all-time high of $99,655 on November 22. Thereafter, the maiden cryptocurrency has experienced a slight retracement in the past 48 hours falling to around $98,200. However, speculations of a major price correction continue to emerge considering BTC’s impressive price […]
The crypto market has been on an uptrend following the US elections in early November. In particular, the altcoins have responded quite positively to the election of pro-crypto candidate Donald Trump as the next US President. Related Reading: Wyckoff Cycle Shows Where We Are In The Market And When Altcoin Season Will Begin XRP, ADA, TON, Others Stand Out Amidst Bullish Altcoins Performance In its weekly report on November 22, blockchain analytics firm CryptoQuant reported that several altcoins have experienced large price spikes after the US Presidential election on November 5. The analytics firm reports that daily spot trading volume in the altcoin market reached $18 billion on November 11, the highest since early August, indicating an increased market interest in these tokens. CryptoQuant explains that these positive developments in the altcoin market hinges on general expectations of a friendly regulatory approach by US President-elect Donald Trump who continuously declared intentions to support the digital asset industry during his electoral campaign. In particular, CryptoQuant highlights XRP as one of the best-performing assets since the US Presidential elections. The sixth largest cryptocurrency has risen by 154% to $1.45 in the past two weeks, which has coincided with a record-high DEX volume of $3.5 million on the XRPL network. Aside from XRP, Tron (TRX) has also grabbed market attention reaching a new all-time high of 10 million daily transaction count as USDT supply on the blockchain network moved above the $60 billion mark. TRX has gained by 25% since November 5 rising to $0.20. Furthermore, Toncoin (TON) has experienced a market rebound rising by 27% since the elections to reach a local peak of $5.75. Importantly, Toncoin maintains a high network activity as evidenced by its 1 million daily active addresses compared to the 60,000 recorded at the start of 2024. Other altcoins in CryptoQuant’s report include Solana (SOL) and Cardano (ADA) which have gained by 62.42% and 206.06%, respectively since Donald Trump’s electoral victory. Related Reading: Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says Is The ‘Altseason’ Here? The altcoins appear poised to maintain their current bullish performance as several analysts believe the ‘altseason’, a period where altcoins experience significant price surges and outperform Bitcoin, has commenced. Ash Crypto on X noted that altcoin dominance has exited its accumulation phase and is now trending upward, signaling the early stages of altseason with full market effect expected to materialize in 2025. Similarly, fellow analyst MikybullCrypto shares this view, identifying December 2024 to March 2025 as a potential period for major price surges in the altcoin market. At the time of writing, the crypto market is valued at 3.3 trillion with altcoins representing 40.8% of this value. Featured image from PlasBit, chart from Tradingview
Crypto advocacy group Blockchain Association has reached out to US President-elect Donald Trump and the newly elected US Congress on ways to create a favorable regulatory environment for the digital asset industry. Related Reading: Strategic Bitcoin Reserve Possible Within Trump’s First 100 Days, Says Insider Trump’s Ideal Crypto Priorities For First 100 Days: Blockchain Association […]
XRP remains one of the crypto market’s current trailblazers rising by 23.21% in the past 24 hours. Over the last two weeks, the prominent altcoin has recorded a 154% price gain establishing itself as the sixth-largest cryptocurrency with a market cap of $89.82 billion. With this current momentum and the crypto bull season still in its early stages, analysts remain highly bullish on XRP’s potential to reach lofty price levels. Related Reading: XRP Primed For $100 Price Target – Here’s Why Can XRP Repeat 2017 Historical Price Movement? In an X post on November 22, an analyst with the username CryptoBull stated that XRP could trade at $40 over the next three months if the token mirrors its first prominent price surge from 2017. Data from CoinMarketCap shows that XRP rose $0.006 to a market peak of $0.33 in early 2017, representing a 5,400% gain. Considering its recent price rally, the altcoin may be gathering momentum to reproduce such price movement in a highly anticipated crypto bull run, especially considering recent happenings. Most notably, popular anti-crypto Securities and Exchange Commission Chairman Gary Gensler recently announced his intentions to resign on January 20, a move largely behind the current bullish sentiment among XRP investors considering the Commission’s long-lasting regulatory battle with Ripple. In fact, Gensler’s decision to leave the SEC has been described as the “best thing” for Ripple, which holds significant weight for XRP’s future. Gensler’s resignation coincides with the inauguration of pro-crypto incoming US President-Elect Donald Trump who has promised to introduce a more friendly approach to digital asset regulation in the US. Aside from XRP finally being free from the regulatory scrutiny of the SEC, the potential introduction of a spot ETF under Trump’s pro-crypto regime also contributes to bullish sentiments on the altcoin’s profitability. According to CryptoBull, if XRP follows its price explosion from early 2017, the token is expected to hit a price target of $1.96 in November, $6.30 in December, and $40 in January. Related Reading: XRP Binance Inflows Spike: What It Means For Price Price Resistance Levels In XRP’s Dream Surge While XRP presents much potential for a high price target, CryptoBull predicts the token to face significant resistance at the $1.96 price region. If buying pressure proves sufficient to move past this level, the analyst expects XRP to confront another resistance at $3.84 which represents the token’s current all-time high price. Considering the current robust bullish sentiments in the market, the altcoin is likely to move past these highlighted resistance levels. However, the token’s Relative Strength Index remains far in the overbought zone (91.73) indicating significant potential for a price pullback. At the time of writing, XRP continues to trade at $1.78 reflecting a 79.57% gain in the past week. Meanwhile, the token’s daily trading volume is up by 103.57% and valued at $20.29 billion. Featured image from Trackinsight, chart from Tradingview
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 […]
According to a Bloomberg report, the Keir Starmer-led Labour government is set to unveil comprehensive cryptocurrency regulations in early 2025. The announcement is expected at London’s City & Financial Global Tokenisation Summit. Crypto Regulations Are Coming To The UK A senior minister has confirmed that to align with digital asset regulatory developments in Europe and […]
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 […]