Büşra Erkıral

Staking involves holding cryptocurrency to support network operations and earn rewards.

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@charly35h An analyst has shared insights on Polygon's price movement, highlighting its potential breakout from a symmetrical triangle pattern. If this breakout is confirmed, there could be a significant rally towards a specific level.

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Barry Silbert's resignation from Grayscale Investments may have increased the chances of the company getting its Bitcoin Trust converted into a spot Bitcoin ETF, says CEO Ram Ahluwalia. Silbert's departure gives Grayscale greater autonomy and may enhance the confidence of the SEC during their final review of Bitcoin ETF applications. Silbert's involvement in ongoing investigations related to Genesis Global could have complicated matters. With Silbert stepping down and confidence in Michael Sonneshein, Ahluwalia believes approval for Grayscale's ETF application is now more likely.

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According to a crypto analyst, XRP's price has the potential to surge by a staggering 58,000% to reach $352. This prediction was made after utilizing an XRP calculator, which is founded on a valuation model by Ripple board member Susan Athey and former crypto firm employee Robert Mitchnick. The analyst factored in various metrics such as transaction volume, circulating supply, store of value, and transaction processing time to arrive at the projected price. Fascinating news for XRP enthusiasts! #XRP #CryptoNews

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XRP Ledger has experienced a remarkable surge in activity, with a staggering 350% increase in daily transactions in the last 24 hours, reaching a record-breaking 4.11 million transactions. This surge is accompanied by a significant rise of 168% in unique sender addresses, and a peak of 3.2 million payments between accounts, not seen since November 2019. The surge can be attributed to the introduction of XRP Script, a recently unveiled project in the XRP community, which allows users to embed arbitrary data on the ledger, giving rise to native digital artifacts, or NFTs. This on-chain fervor has left the crypto community in awe and intrigued about the potential impact of the XRP Ledger's new capabilities.

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In a recent report released by security app DeFi, it was revealed that cryptocurrency users suffered losses of nearly $2 billion in scams, rug pulls, and hacks in 2023. Despite this being a decrease from the previous year, it highlights the continued vulnerability of the industry to security risks. The decline in losses can be attributed to the implementation of enhanced security protocols, increased awareness within the community, and a decline in market activity. It is worth noting that the $40 billion lost to the collapses of Terraform Labs, Celsius, and FTX is not included in this figure. This positive trend coincides with a bear market where major alternative tokens experienced significant declines before recovering in recent months amid more bullish conditions. Furthermore, the recovery rate of funds has significantly improved, rising to around 10% from a mere 2% in 2022, as reported by DeFi.

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Although Solana has experienced a 95% increase in December, other cryptocurrencies such as AVAX, INJ, and NEAR are surging even higher. Interestingly, AVAX's rally aligns with the release of 9.54 million AVAX tokens in late November, demonstrating that the market has absorbed the additional supply without negatively impacting its valuation. This suggests a strong demand for AVAX, especially considering the rising gas fees on Ethereum. In comparison to Ethereum's $4.66 transaction gas cost, Avalanche's median gas cost was only $0.051 at the start of the month. However, when examining AVAX's price from a technical perspective, there seems to be a divergence. While the price continues to rise, the daily relative strength index (RSI) has been declining throughout December, indicating a potential bearish divergence. In simpler terms, the cryptocurrency's bullish trend may be nearing its end.

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In their final edition of the newsletter, the members of CoinDesk's policy team share their insights on what they are observing in the realm of crypto regulations in 2024. From elections and SEC cases to DOJ cases, this article sheds light on the potential developments in the cryptocurrency space. Happy holidays, and catch you in the new year! Sign up for future editions of State of Crypto, a CoinDesk newsletter exploring the relationship between cryptocurrency and government.

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Former President Donald Trump has raised eyebrows with his cash-out of 1,075 ETH, worth around $2.4 million, from NFT sales, leading to speculation that he may be funding his 2024 presidential campaign with cryptocurrency. However, this move could draw increased scrutiny due to the regulatory uncertainty surrounding crypto-driven campaign financing. The timing of these transactions, coinciding with the upcoming election, has sparked questions about Trump's exploration of alternative funding sources, potentially signaling a strategic financial plan with crypto-driven campaign support.

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The price of Ethereum (ETH) is currently at $2,278, with a trading volume of $15.34 billion in the last 24 hours. The market is currently in a state of neutrality, leaning slightly towards bullishness, as indicated by the oscillators and moving averages. The relative strength index is at 55.9 and the momentum is at 87.8, showing cautious optimism among traders. While some oscillators suggest a neutral stance, the momentum oscillator signals positivity and a potential undercurrent of bullish sentiment that could impact future price movements.

[Büşra Erkıral @Bsrerk]

Within the past 24 hours, Whale Alert, a cryptocurrency wallet tracker, uncovered several significant transactions involving a substantial amount of XRP being moved by anonymous wallets and Ripple fintech decacorn. The XRP community is now speculating on the identities behind these transactions and whether they will affect the coin's price, which has seen a slight increase. One of the transactions involved Binance moving a staggering 440 million XRP, with the largest chunk totaling 300,000,000 XRP valued at $185,083,895. Additionally, another transaction carried 139,374,499 XRP worth $86,206,784. These developments have sparked intrigue and discussion within the cryptocurrency community.

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DOGEUSD price has experienced a slight decline of 0.21% over the past day. On the daily chart, the price is being pressured by bears, struggling to return to the middle of the channel. If the $0.09 support level is lost, a drop towards $0.08380 could be expected. The current trading price for DOGE is $0.09215.

SHIBUSD has maintained an unchanged rate since yesterday. The price looks more positive on the daily timeframe, as it hasn't significantly declined from the resistance. Reaching the $0.00001136 level could potentially result in a breakout towards the $0.000012 zone. Currently, SHIB is trading at $0.00001072.

BONKUSD is the largest loser today, experiencing a decrease of nearly 13%. Traders should closely monitor the $0.00001742 level on the daily chart. As long as the price remains below this mark, bears will continue to exert more influence than bulls, potentially leading to further decline. BONK is currently trading at $0.00001571.

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The Bitfinex analyst warns that Bitcoin is facing short-term price correction risks, particularly above the $44,000 mark. This is due to profit realization for medium-term holders and overheated short-term holder profits. However, a recent Bitfinex report suggests that the cryptocurrency market could experience pullbacks before reaching a high of $3.2 trillion by the end of 2024. The analysts explain that current Bitcoin valuations resemble previous periods of initial price dips followed by sustained recoveries. Therefore, they anticipate a pullback or further range trading instead of an immediate upward move. #CryptoNews

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The Shiba Inu Coin ecosystem is experiencing growth and expansion, as mentioned in a recent YouTube video by ClayBro. The team has announced upcoming projects and partnerships, showing a widening of their operations. Despite concerns about reliability, the Shiba magazine has attracted attention, indicating the team's efforts to diversify their offerings.

ClayBro emphasizes the importance of community involvement in promoting Shiba Inu Coin and its blockchain, Shibarium, with the goal of achieving global recognition and a top-five position in the market. However, there are concerns about a potential shift in focus, moving away from direct support of the coin.

A crucial issue raised in the video is the lack of official information and unfulfilled promises from the Shiba Inu team. With an estimated 4 million members in the community, known as the Shiba Inu Army, there is a strong desire for transparency and direction. ClayBro urges the team to provide more clarity and fulfill their commitments to ensure the project's success.

[Büşra Erkıral @Bsrerk]

The crypto market continues to flourish as the total assets under management for crypto funds reach a staggering $50 billion. This is supported by the increasing number of exchange-traded products (ETPs) worldwide, providing exposure to various tokens such as Bitcoin, Ethereum, Solana, Cardano, Ripple, Avalanche, and Arbitrum. Notably, Grayscale's Bitcoin Trust (GBTC) holds the leading position on this list and is currently seeking approval from the SEC to convert into a spot ETF. Furthermore, several other well-known providers like ProShares, 21 Shares, Wisdomtree, VanEck, Fidelity, and Bitwise are also exploring the ETF space. With Bitcoin ETP investments hitting a record high of $7.4 billion last month, analysts predict that the potential approval of a spot Bitcoin ETF could further attract institutional investors, resulting in increased inflows into the cryptocurrency market.

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@1Onuryldrm1 Irene Threat Stock market bubbles can be fueled by irrational exuberance.

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@karly12345 @Johndoe17477201 Luther Hicklin Oracles provide real-world data to smart contracts.

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@NemiYok Minna Resecker Stock market crashes can lead to panic selling.

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@DjFinnest2 @Jenna_Madden Ferdinand Viapiano Friends know how to make you laugh until it hurts.

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@ronaldoam10 Victor Staggs Stock market crashes can lead to wealth destruction.

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@darkminer @jor_git Aura Lanoue It's a way to enjoy a comfortable retirement lifestyle.