The Shiba Inu Coin ecosystem is experiencing growth and expansion, as noted in a recent YouTube video by ClayBro. The team has announced upcoming projects and partnerships, showcasing their efforts to widen their operational scope. Despite reliability concerns, the Shiba magazine has sparked interest, indicating the team's desire to diversify their offerings. Community involvement is emphasized in the video as a means to promote Shiba Inu Coin and Shibarium blockchain, with the goal of attaining a top-five market position. However, ClayBro expresses concerns about a potential shift in focus, away from direct support for the Shiba Inu coin. An important issue highlighted is the lack of official information and unfulfilled promises from the Shiba Inu team. With an estimated 4 million-strong Shiba Inu Army community, there is a strong desire for clarity and guidance. ClayBro calls upon the team to improve transparency and follow through on their commitments for the project's success.
Based on a video by the JWK Show channel, a crypto analyst suggests that XRP's price may surge to $352 by utilizing an XRP calculator developed by Susan Athey and Robert Mitchnick. Inputting transaction volume, circulating supply, store of value, and transaction processing time, the analyst reached this extraordinary price prediction for XRP. #XRP #CryptoNews
Trong vòng 24 giờ qua, Whale Alert, công cụ theo dõi ví tiền điện tử, đã báo cáo về việc di chuyển một số lượng lớn XRP bởi các ví vô danh và công ty fintech Ripple. Cộng đồng XRP đã dự đoán một số nguyên nhân có thể gây ra các giao dịch lớn này và xem xét tác động của chúng đến giá của đồng tiền này. Trong khi đó, giá của XRP đã tăng nhẹ. Bài viết cũng đề cập đến sự di chuyển của 440 triệu XRP bởi Binance. Giao dịch lớn nhất có chứa 300.000.000 XRP được đánh giá là 185.083.895 đô la, giao dịch nhỏ hơn chứa 139.374.499 XRP trị giá 86.206.784 đô la.
The research by BitMEX reveals that there are currently over 160 crypto-related exchange-traded products (ETPs) worldwide, managing assets worth more than $50 billion. These ETPs offer exposure to various cryptocurrencies, such as Bitcoin, Ethereum, Solana, Cardano, Ripple, Avalanche, and Arbitrum. Grayscale's Bitcoin Trust (GBTC) leads the pack and is awaiting SEC approval to convert into a spot ETF. Several other renowned providers, including ProShares, 21 Shares, Wisdomtree, VanEck, Fidelity, and Bitwise, have also submitted their ETF proposals. As demonstrated by the record-breaking $7.4 billion investment in Bitcoin ETPs last month, industry experts predict that the potential approval of a spot Bitcoin ETF could attract significant institutional investments into the crypto market.
According to a Bitfinex analyst, Bitcoin is facing the risk of a short-term price correction above the $44,000 level. This is due to profit realization by medium-term holders and overheated profits from short-term holders, resulting in the current slump. However, it's worth noting that there have been 67 consecutive days of bitcoin net realized profitability, the longest streak since October 2020 to February 2021. Based on historical market behavior, the cryptocurrency market could witness pullbacks before reaching a high of $3.2 trillion by the end of 2024. Therefore, it is expected that there may be further ranging or a pullback at current prices instead of an immediate upward move. #CryptoNews
An analyst has observed that Polygon is currently breaking out of a symmetrical triangle pattern, indicating a potential rally ahead. This technical formation, characterized by two converging trendlines of similar incline, has been forming in the weekly price of MATIC. It is important to note that there are other triangle patterns in technical analysis, such as ascending and descending triangles, which differ from the symmetrical triangle due to the horizontal movement of one trendline. Nevertheless, the breakout from this symmetrical triangle pattern suggests that Polygon's price may be poised to rally further.
According to a recent report by DeFi, cryptocurrency users lost nearly $2 billion to scams, rug pulls, and hacks in 2023, highlighting the ongoing vulnerability of the industry. However, the losses have decreased due to enhanced security protocols, improved awareness, and a decline in market activity. This improvement becomes more significant when considering the $40 billion lost to the collapse of Terraform Labs, Celsius, and the FTX exchange. This positive trend coincides with a bear market, where major alternative tokens experienced slumps before recovering in recent months. Furthermore, the recovery rate of funds has significantly improved, reaching around 10% compared to a mere 2% in 2022. #DeFi #CryptoNews
The current Ethereum technical analysis shows that Ether bulls are taking control and moving towards resistance. With a price of $2,278 and a trading volume of $15.34 billion in the past 24 hours, the market remains neutral but leans slightly towards bullishness. The relative strength index at 55.9 and momentum at 87.8 indicate cautious optimism among traders. Various oscillators like Stochastic, commodity channel index, and MACD suggest a neutral stance, but the momentum oscillator points towards positivity, implying a potential upward movement in prices.
The recent resignation of Grayscale Investments chairman Barry Silbert has shocked the crypto community, but top investor Ram Ahluwalia sees it as a positive move for the company. Ahluwalia believes that Silbert's departure gives Grayscale more autonomy and could boost the confidence of the SEC as it reviews the Bitcoin ETF applications. Silbert's involvement in ongoing investigations may have complicated matters for the company, making his resignation a potential advantage. Ahluwalia is optimistic that with Michael Sonneshein leading the company, Grayscale has a higher chance of getting its Bitcoin ETF application approved.
The recent surges in AVAX, INJ, and NEAR have sparked curiosity. Interestingly, the surge in Avalanche's price this month can be attributed to the unlocking of 9.54 million AVAX tokens in late November, which did not negatively impact its valuation. This indicates a strong demand for AVAX, especially considering the rising gas costs on the Ethereum network. Additionally, from a technical perspective, there is a bearish divergence between AVAX's rising prices and falling momentum, suggesting that the cryptocurrency's bull run may be nearing exhaustion. #AVAX #CryptoNews
In the final edition of the CoinDesk newsletter, the policy team discusses their insights on what to expect in 2024 regarding crypto regulations. With elections, SEC cases, and DOJ cases on the horizon, the regulatory landscape for cryptocurrencies is sure to evolve. Stay tuned for more updates and have a wonderful holiday season. See you next year!
The XRP Ledger has experienced an unprecedented surge in activity, with a remarkable 350% increase in daily transactions within just 24 hours, totaling a staggering 4.11 million transactions. This surge surpasses the previous record set in November 2021, marking the highest level of activity in the past two years. Furthermore, there has been a notable 168% increase in unique sender addresses and a peak of 3.2 million payments from one account to another, not seen since November 2019. This surge has left the crypto community puzzled and intrigued as XRP Ledger seems to be caught in a frenzy of on-chain excitement. The cause of this surge lies in the introduction of XRP Script, a recently unveiled project, which aims to allow users to embed arbitrary data on the XRP Ledger, essentially creating native digital artifacts known as NFTs.
Former President Donald Trump has reportedly cashed out a significant amount of Ether (ETH) from his NFT sales, raising speculation that he may be using cryptocurrency to fund his 2024 presidential campaign. However, this move could attract increased scrutiny due to the regulatory uncertainty surrounding crypto-driven campaign financing. The timing of these transactions, coupled with the anticipation of the upcoming election, has led some to question whether Trump is exploring alternative funding sources. The decision to cash out his ETH earnings from NFTs suggests a strategic financial plan that could potentially contribute to crypto-driven campaign funding.
The prices of DOGE, SHIB, and BONK have been analyzed for December 27. DOGE has experienced a slight decline of 0.21% and is currently under bearish pressure, struggling to regain its position in the middle of the channel. If the $0.09 support level is lost, further downward movement towards $0.08380 can be expected. SHIB, on the other hand, has shown a more positive outlook, with the possibility of a breakout to the $0.000012 zone if it returns to the $0.00001136 level. Meanwhile, BONK has suffered the biggest loss, dropping by nearly 13% and remaining under bearish control as long as it stays below the $0.00001742 level. Currently, it is trading at $0.00001571. #coin #tokens