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The cryptocurrency market is in turmoil, but there's no need to panic, as Bitcoin will regain momentum
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Despite the market correction, with Bitcoin falling below $100,000, investor optimism remains high, with great expectations for next year.
Analysts at Bitfinex have raised their forecasts for this cryptocurrency, predicting that by mid-2025, the price of Bitcoin could reach $200,000. According to their analysis, the main catalyst for this potential surge is the increasing institutional adoption of Bitcoin, which is expected to grow throughout 2025, creating significant upward pressure on the asset's price.
Bitfinex analysts also considered other scenarios in their predictions. If Bitcoin follows a trajectory similar to its 2021 cycle and rises 40% above its moving average, it could potentially reach an astonishing $339,000.
However, if the 2017 cycle repeats, characterized by a more pronounced decline in BTC's performance, Bitcoin could peak close to $290,000 by early 2026—although the likelihood of this scenario is lower.
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Despite the market correction, with Bitcoin falling below $100,000, investor optimism remains high, with great expectations for next year.
Analysts at Bitfinex have raised their forecasts for this cryptocurrency, predicting that by mid-2025, the price of Bitcoin could reach $200,000. According to their analysis, the main catalyst for this potential surge is the increasing institutional adoption of Bitcoin, which is expected to grow throughout 2025, creating significant upward pressure on the asset's price.
Bitfinex analysts also considered other scenarios in their predictions. If Bitcoin follows a trajectory similar to its 2021 cycle and rises 40% above its moving average, it could potentially reach an astonishing $339,000.
However, if the 2017 cycle repeats, characterized by a more pronounced decline in BTC's performance, Bitcoin could peak close to $290,000 by early 2026—although the likelihood of this scenario is lower.
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MetaMask Launches Crypto Card in the US, Allowing Users to Spend Cryptocurrency Online and Offline
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The MetaMask Card allows users to spend the cryptocurrency they hold in their MetaMask wallets at physical stores and online.
The announcement stated, "Currently, the MetaMask Card is not available to users in New York or Vermont; you need to join the waitlist."
Through a limited-time pilot program, US users can use cryptocurrency for everyday shopping anywhere Mastercard is accepted. The company stated that the card functions similarly to a crypto debit card.
Lorenzo Santos, Senior Product Manager at Consensys, stated, "The MetaMask Card pilot gives people more freedom to spend cryptocurrency."
"The launch of this card marks an important step in eliminating traditional friction between blockchain and real-world commerce. It is a paradigm shift that offers the best of both worlds."
Crypto Life, a card program manager with a Mastercard lending business, has partnered with MetaMask to issue the crypto card.
Eligible users can register using MetaMask Portfolio and obtain the crypto card by creating an account on the Crypto Life website. The website notes that after registration, the card will automatically convert cryptocurrency to local fiat currency at the point of sale.
The card has been launched in the EU, UK, Brazil, Mexico, and Colombia. The wallet launched the card in collaboration with fintech company Baanx Platform.
Additionally, MetaMask plans to roll out its crypto payment card to other countries soon.
Users can link their digital wallets with Apple Pay or Google Pay to use their cryptocurrency. The official announcement stated that eligible currencies include USDC, USDT, and WETH on the Linea network.
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The MetaMask Card allows users to spend the cryptocurrency they hold in their MetaMask wallets at physical stores and online.
The announcement stated, "Currently, the MetaMask Card is not available to users in New York or Vermont; you need to join the waitlist."
Through a limited-time pilot program, US users can use cryptocurrency for everyday shopping anywhere Mastercard is accepted. The company stated that the card functions similarly to a crypto debit card.
Lorenzo Santos, Senior Product Manager at Consensys, stated, "The MetaMask Card pilot gives people more freedom to spend cryptocurrency."
"The launch of this card marks an important step in eliminating traditional friction between blockchain and real-world commerce. It is a paradigm shift that offers the best of both worlds."
Crypto Life, a card program manager with a Mastercard lending business, has partnered with MetaMask to issue the crypto card.
Eligible users can register using MetaMask Portfolio and obtain the crypto card by creating an account on the Crypto Life website. The website notes that after registration, the card will automatically convert cryptocurrency to local fiat currency at the point of sale.
The card has been launched in the EU, UK, Brazil, Mexico, and Colombia. The wallet launched the card in collaboration with fintech company Baanx Platform.
Additionally, MetaMask plans to roll out its crypto payment card to other countries soon.
Users can link their digital wallets with Apple Pay or Google Pay to use their cryptocurrency. The official announcement stated that eligible currencies include USDC, USDT, and WETH on the Linea network.
Click on the avatar to watch live and chat!
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Donald Trump’s inauguration will see a "painful" crash in cryptocurrency prices: Arthur Hayes
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Arthur Hayes, a veteran in the cryptocurrency space, believes the digital asset market will experience a "painful" collapse next month.
The BitMEX co-founder stated in a new analysis that long-standing economic issues will make it "almost impossible" for the elected President of the United States, Donald Trump, to maintain control of both houses by 2026, meaning he has little time to achieve his policy goals.
"People lack patience because they are desperate. Trump is a shrewd politician who understands his supporters. To me, this means he must act quickly, which is why I bet that the dollar will depreciate significantly against gold within the first 100 days of his presidency. This is a simple way to rapidly make U.S. production costs globally competitive. This will lead to an immediate return of production capacity, resulting in hiring increases today rather than five years from now.
Before we enter the collapse phase of the cryptocurrency bull market, I believe the cryptocurrency market will experience a painful crash around the time of Trump’s inauguration on January 20, 2025. Maelstrom will reduce certain positions in advance, hoping to buy back some core positions at a lower price sometime in the first half of 2025."
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Arthur Hayes, a veteran in the cryptocurrency space, believes the digital asset market will experience a "painful" collapse next month.
The BitMEX co-founder stated in a new analysis that long-standing economic issues will make it "almost impossible" for the elected President of the United States, Donald Trump, to maintain control of both houses by 2026, meaning he has little time to achieve his policy goals.
"People lack patience because they are desperate. Trump is a shrewd politician who understands his supporters. To me, this means he must act quickly, which is why I bet that the dollar will depreciate significantly against gold within the first 100 days of his presidency. This is a simple way to rapidly make U.S. production costs globally competitive. This will lead to an immediate return of production capacity, resulting in hiring increases today rather than five years from now.
Before we enter the collapse phase of the cryptocurrency bull market, I believe the cryptocurrency market will experience a painful crash around the time of Trump’s inauguration on January 20, 2025. Maelstrom will reduce certain positions in advance, hoping to buy back some core positions at a lower price sometime in the first half of 2025."
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3 Cryptocurrencies to Watch This Weekend
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1. Solana (SOL)
SOL is riding the current market correction trend. This cryptocurrency has performed well over the past two years. The asset fell below $10 after the FTX crash in 2022. Since the 2022 low, SOL has made a considerable recovery.
SOL recently hit a new all-time high of $263.21. There is a high probability that the asset will accelerate upward in the coming weeks.
2. Binance Coin (BNB)
Binance's BNB token is also currently facing a correction. Despite the decline, the cryptocurrency may gain momentum in the coming weeks. Like SOL, BNB has also recently hit a new all-time high. On December 4, 2024, the cryptocurrency hit a peak of $788.84. BNB may start to rebound soon.
3. Ripple XRP
Ripple's XRP token has performed well in 2024. The fintech company reached a settlement with the U.S. Securities and Exchange Commission earlier this year. The cryptocurrency has broken the $2 mark for the first time in nearly seven years. XRP may soon see a rebound.
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1. Solana (SOL)
SOL is riding the current market correction trend. This cryptocurrency has performed well over the past two years. The asset fell below $10 after the FTX crash in 2022. Since the 2022 low, SOL has made a considerable recovery.
SOL recently hit a new all-time high of $263.21. There is a high probability that the asset will accelerate upward in the coming weeks.
2. Binance Coin (BNB)
Binance's BNB token is also currently facing a correction. Despite the decline, the cryptocurrency may gain momentum in the coming weeks. Like SOL, BNB has also recently hit a new all-time high. On December 4, 2024, the cryptocurrency hit a peak of $788.84. BNB may start to rebound soon.
3. Ripple XRP
Ripple's XRP token has performed well in 2024. The fintech company reached a settlement with the U.S. Securities and Exchange Commission earlier this year. The cryptocurrency has broken the $2 mark for the first time in nearly seven years. XRP may soon see a rebound.
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Trump's SEC May Change Cryptocurrency Regulation in the U.S.
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A major focus of the discussion is the controversial 2018 Hinman speech. The SEC's corporate finance division has prioritized condemning this speech. It has been criticized for causing confusion, particularly regarding the Howey test used to determine whether an asset qualifies as a security. This test has been misapplied to cryptocurrencies. Critics argue that this speech created unnecessary market chaos and a sense of favoritism. Essentially, it is seen as dividing the industry into 'winners' and 'losers,' which undermines transparency and fairness.
Addressing the legacy issues of such informal guidance is viewed as a crucial step. Instead, experts encourage the SEC to rely on clear, formal rule-making and no-action letters to provide a direct compliance pathway for crypto asset companies.
The meeting also outlined the Token Alliance's vision for the SEC under the presidency of Donald Trump. Trump's chosen SEC Chair, Paul Atkins, is seen as an experienced figure with a friendly attitude towards cryptocurrencies. Commissioners Peirce and Uyeda, known for criticizing the SEC's aggressive anti-crypto enforcement, may help lead this reform.
The Digital Chamber has put forth some bold initiatives for the first 90 days after the SEC's establishment. These include reviewing ongoing investigations, stopping cases without actual fraud, and withdrawing confusing guidance such as SAB 121. They have also proposed retracting a proposed amendment aimed at redefining 'exchange' to include decentralized finance (DeFi) protocols.
The Token Alliance is optimistic about the potential impact of the new SEC leadership. Improving the relationship between the SEC and the digital asset industry could pave the way for clearer crypto regulations in the U.S. This would encourage more innovation and stronger mutual trust. By focusing on fairness and transparency, this could ultimately become the new starting point the industry has been waiting for.
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A major focus of the discussion is the controversial 2018 Hinman speech. The SEC's corporate finance division has prioritized condemning this speech. It has been criticized for causing confusion, particularly regarding the Howey test used to determine whether an asset qualifies as a security. This test has been misapplied to cryptocurrencies. Critics argue that this speech created unnecessary market chaos and a sense of favoritism. Essentially, it is seen as dividing the industry into 'winners' and 'losers,' which undermines transparency and fairness.
Addressing the legacy issues of such informal guidance is viewed as a crucial step. Instead, experts encourage the SEC to rely on clear, formal rule-making and no-action letters to provide a direct compliance pathway for crypto asset companies.
The meeting also outlined the Token Alliance's vision for the SEC under the presidency of Donald Trump. Trump's chosen SEC Chair, Paul Atkins, is seen as an experienced figure with a friendly attitude towards cryptocurrencies. Commissioners Peirce and Uyeda, known for criticizing the SEC's aggressive anti-crypto enforcement, may help lead this reform.
The Digital Chamber has put forth some bold initiatives for the first 90 days after the SEC's establishment. These include reviewing ongoing investigations, stopping cases without actual fraud, and withdrawing confusing guidance such as SAB 121. They have also proposed retracting a proposed amendment aimed at redefining 'exchange' to include decentralized finance (DeFi) protocols.
The Token Alliance is optimistic about the potential impact of the new SEC leadership. Improving the relationship between the SEC and the digital asset industry could pave the way for clearer crypto regulations in the U.S. This would encourage more innovation and stronger mutual trust. By focusing on fairness and transparency, this could ultimately become the new starting point the industry has been waiting for.
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Today's Cryptocurrency Crash: The Federal Reserve Hints at Slower Rate Cuts, Cryptocurrency Market Plummets!
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In a turbulent market, Bitcoin's price fell to a 24-hour low of $98,792.67. As of this writing, Bitcoin is currently trading at $101,158.92. The pullback has indeed prompted price action traders to take action, leading to a 32.99% surge in 24-hour trading volume to $98.26 billion. That said, despite the decline, BTC's dominance remains strong at 57.01%.
The second-largest cryptocurrency by market capitalization, Ethereum, has plunged 4.40%, priced at $3,671.66. Solana and XRP have also taken hits, dropping 3.73% and 5.93%, respectively. The broader altcoin market reflects Bitcoin's bearish trend, showcasing the uncertainty triggered by Powell's remarks.
For a detailed analysis of Ethereum, please check our Ethereum price prediction page.
Top Gainers:
Change: $0.7242 (+12.47%) ENA: $1.17 (+9.54%) BGB: $4.37 (+5.18%)
Biggest Losers:
Rate Hike: $2.27 (-14.07%) FLOKI: $0.0001881 (-13.62%) XETA: $2.28 (-12.23%)
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In a turbulent market, Bitcoin's price fell to a 24-hour low of $98,792.67. As of this writing, Bitcoin is currently trading at $101,158.92. The pullback has indeed prompted price action traders to take action, leading to a 32.99% surge in 24-hour trading volume to $98.26 billion. That said, despite the decline, BTC's dominance remains strong at 57.01%.
The second-largest cryptocurrency by market capitalization, Ethereum, has plunged 4.40%, priced at $3,671.66. Solana and XRP have also taken hits, dropping 3.73% and 5.93%, respectively. The broader altcoin market reflects Bitcoin's bearish trend, showcasing the uncertainty triggered by Powell's remarks.
For a detailed analysis of Ethereum, please check our Ethereum price prediction page.
Top Gainers:
Change: $0.7242 (+12.47%) ENA: $1.17 (+9.54%) BGB: $4.37 (+5.18%)
Biggest Losers:
Rate Hike: $2.27 (-14.07%) FLOKI: $0.0001881 (-13.62%) XETA: $2.28 (-12.23%)
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Despite the collapse of altcoins, Fartcoin's market cap briefly surpassed $1 billion
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The Solana-based memecoin Fartcoin has risen by 113% in the past 30 days, briefly surpassing a market cap of $1 billion on December 18, even as most altcoin markets experienced double-digit declines that day.
After the Federal Reserve announced a 25 basis point rate cut and hinted that the rate cut in 2025 may be lower than previously expected, the overall cryptocurrency market fell into a downturn, while Fartcoin (a meme coin with no utility) stood out.
The biggest losers among altcoins in the past 24 hours were Dogwifhat at $2.25, down 16.92%, Bonk at $0.00003089, down 15.24%, and Theta Network at $2.28, down 14.84%.
Some people are casual about Fartcoin's market cap rising to $1 billion.
Investor Brandon Beylo stated in an X post on December 18, "The most interesting outcomes are often the most likely," and noted that investors are "fleeing to Fartcoin for safety."
Meanwhile, Bone Fide Wealth President Douglas A. Bentforth mentioned in an X post, "The Federal Reserve cannot own Bitcoin, but they made no mention of Fartcoin."
On December 9, Syncracy Capital co-founder Daniel Cheung stated that traders may have more time to take advantage of buying opportunities in this cycle.
Syncracy Capital co-founder Daniel Cheung remarked, "There will be volatility this month, but the pullback may present a 'buy the dip' scenario, and the duration will be much longer than everyone expects."
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Click the avatar to watch live, let's chat!
The Solana-based memecoin Fartcoin has risen by 113% in the past 30 days, briefly surpassing a market cap of $1 billion on December 18, even as most altcoin markets experienced double-digit declines that day.
After the Federal Reserve announced a 25 basis point rate cut and hinted that the rate cut in 2025 may be lower than previously expected, the overall cryptocurrency market fell into a downturn, while Fartcoin (a meme coin with no utility) stood out.
The biggest losers among altcoins in the past 24 hours were Dogwifhat at $2.25, down 16.92%, Bonk at $0.00003089, down 15.24%, and Theta Network at $2.28, down 14.84%.
Some people are casual about Fartcoin's market cap rising to $1 billion.
Investor Brandon Beylo stated in an X post on December 18, "The most interesting outcomes are often the most likely," and noted that investors are "fleeing to Fartcoin for safety."
Meanwhile, Bone Fide Wealth President Douglas A. Bentforth mentioned in an X post, "The Federal Reserve cannot own Bitcoin, but they made no mention of Fartcoin."
On December 9, Syncracy Capital co-founder Daniel Cheung stated that traders may have more time to take advantage of buying opportunities in this cycle.
Syncracy Capital co-founder Daniel Cheung remarked, "There will be volatility this month, but the pullback may present a 'buy the dip' scenario, and the duration will be much longer than everyone expects."
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XRP Price Plummets 5%: Should You Buy XRP Immediately During Whale Accumulation?
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According to on-chain data analysis provided by Santiment, XRP whale investors (holding 100 million to 1 billion tokens) have accumulated over 860 million XRP this week, worth over 2 billion dollars.
In a sustained bullish outlook, XRP whales have persistently accumulated more XRP.
With the support of Ripple and its strong business model, XRP has recently regained interest. Additionally, under the incoming Trump administration, the ongoing Ripple vs. SEC lawsuit is likely to be dismissed.
On Wednesday, Ripple Labs launched the fiat-backed RLUSD stablecoin, which is strongly supported by centralized exchanges and DeFi protocols.
The launch of RLUSD will significantly enhance XRP's liquidity and strengthen the company’s cross-border payment capabilities.
From a technical analysis perspective, XRP's price has broken out of a bullish pennant formation that developed over the past two weeks on the daily timeframe. Due to the potential head and shoulders (H&S) pattern, XRP's price is likely to rebound above the historical high of $3.4 in the short term.
However, consistently closing below $2 in the coming weeks will invalidate the bullish sentiment and prolong the ongoing market correction.
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According to on-chain data analysis provided by Santiment, XRP whale investors (holding 100 million to 1 billion tokens) have accumulated over 860 million XRP this week, worth over 2 billion dollars.
In a sustained bullish outlook, XRP whales have persistently accumulated more XRP.
With the support of Ripple and its strong business model, XRP has recently regained interest. Additionally, under the incoming Trump administration, the ongoing Ripple vs. SEC lawsuit is likely to be dismissed.
On Wednesday, Ripple Labs launched the fiat-backed RLUSD stablecoin, which is strongly supported by centralized exchanges and DeFi protocols.
The launch of RLUSD will significantly enhance XRP's liquidity and strengthen the company’s cross-border payment capabilities.
From a technical analysis perspective, XRP's price has broken out of a bullish pennant formation that developed over the past two weeks on the daily timeframe. Due to the potential head and shoulders (H&S) pattern, XRP's price is likely to rebound above the historical high of $3.4 in the short term.
However, consistently closing below $2 in the coming weeks will invalidate the bullish sentiment and prolong the ongoing market correction.
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Shiba Inu (SHIB) whales profit $109 million during SHIB price decline
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According to blockchain analytics platform Lookonchain, the journey of the whales with SHIB began on August 6, 2020, when they invested $3,800 to purchase a massive 15.28 trillion SHIB tokens.
Shiba Inu (SHIB) is facing increasing pressure, with its price dropping 5.57% in the past 24 hours. It is currently trading at approximately $0.0000241, with a market cap of $14.1 billion. The recent decline has raised concerns about a short-term drop in SHIB.
Technical indicators such as the Bollinger Bands suggest that SHIB's price may decline in the short term. The lower Bollinger Band indicates that the token's price could drop to $0.0000238 and possibly around $0.0000228 as it seeks a local bottom.
Despite the continuous decline of SHIB, it is approaching a critical 50 EMA level, which could become a turning point. If the token finds support at $0.000024, it may re-attract investor interest and achieve a potential recovery.
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According to blockchain analytics platform Lookonchain, the journey of the whales with SHIB began on August 6, 2020, when they invested $3,800 to purchase a massive 15.28 trillion SHIB tokens.
Shiba Inu (SHIB) is facing increasing pressure, with its price dropping 5.57% in the past 24 hours. It is currently trading at approximately $0.0000241, with a market cap of $14.1 billion. The recent decline has raised concerns about a short-term drop in SHIB.
Technical indicators such as the Bollinger Bands suggest that SHIB's price may decline in the short term. The lower Bollinger Band indicates that the token's price could drop to $0.0000238 and possibly around $0.0000228 as it seeks a local bottom.
Despite the continuous decline of SHIB, it is approaching a critical 50 EMA level, which could become a turning point. If the token finds support at $0.000024, it may re-attract investor interest and achieve a potential recovery.
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AAVE is expected to form a sharp upward trend against Chainlink, but this popular $0.04 token can elevate a $100 investment to $10,000
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AAVE surged 38%: What does the new v3.3 upgrade mean for investors!
On December 10, 2024, Bgdlabs announced the proposal to upgrade Aave from v3.2 to v3.3, introducing key advancements that solidify AAVE's position as a leading DeFi token and one of the most promising altcoins to buy.
The new version focuses on enhancing debt management and liquidation efficiency, ensuring the financial stability of the protocol. The upgraded bad debt management system accurately records and tracks unresolved debts, improving transparency while preparing for Umbrella's automated coverage.
Liquidation optimizations reduce residual dust debts, making the process more efficient and economically viable for liquidators. Through these upgrades, Aave has consolidated its position as a cutting-edge DeFi platform, setting new standards for decentralized finance innovation.
In just five days, AAVE rose by 38%, with its token price increasing from $260 to $361 during the period from December 10 to December 15. Analysts' price predictions suggest that this DeFi token could reach $380 by January 2025.
FX Guys' proprietary financing plan is a major highlight of the FXGuys platform, offering qualified traders up to $500,000 in capital to explore trading opportunities. This is an excellent opportunity for traders looking to scale their business without exposing capital.
In addition to rewards and an incentive program that promotes community participation, FXGuys also facilitates user growth, making it stand out among competing platforms. These features make the $FXG DeFi token a strong choice for investors looking for promising altcoins in the thriving DeFi space.
Currently, $FXG has entered the second phase of its public presale, with a token price of $0.04 each, and an expected issuance price of $0.10. Preliminary forecasts show a return on investment of 150%, and $FXG is set to become one of the three most promising altcoins to buy, with potential price increases exceeding 100 times by 2025.
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AAVE surged 38%: What does the new v3.3 upgrade mean for investors!
On December 10, 2024, Bgdlabs announced the proposal to upgrade Aave from v3.2 to v3.3, introducing key advancements that solidify AAVE's position as a leading DeFi token and one of the most promising altcoins to buy.
The new version focuses on enhancing debt management and liquidation efficiency, ensuring the financial stability of the protocol. The upgraded bad debt management system accurately records and tracks unresolved debts, improving transparency while preparing for Umbrella's automated coverage.
Liquidation optimizations reduce residual dust debts, making the process more efficient and economically viable for liquidators. Through these upgrades, Aave has consolidated its position as a cutting-edge DeFi platform, setting new standards for decentralized finance innovation.
In just five days, AAVE rose by 38%, with its token price increasing from $260 to $361 during the period from December 10 to December 15. Analysts' price predictions suggest that this DeFi token could reach $380 by January 2025.
FX Guys' proprietary financing plan is a major highlight of the FXGuys platform, offering qualified traders up to $500,000 in capital to explore trading opportunities. This is an excellent opportunity for traders looking to scale their business without exposing capital.
In addition to rewards and an incentive program that promotes community participation, FXGuys also facilitates user growth, making it stand out among competing platforms. These features make the $FXG DeFi token a strong choice for investors looking for promising altcoins in the thriving DeFi space.
Currently, $FXG has entered the second phase of its public presale, with a token price of $0.04 each, and an expected issuance price of $0.10. Preliminary forecasts show a return on investment of 150%, and $FXG is set to become one of the three most promising altcoins to buy, with potential price increases exceeding 100 times by 2025.
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These altcoins present the best buying opportunities after Wednesday's bloodbath: Santiment
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Although the Federal Reserve cut its benchmark interest rate by 25 basis points as expected, several comments from Jerome Powell had an extremely negative impact on the entire crypto market.
The central bank chairman warned that there may be fewer rate cuts in 2025 after three consecutive rate cuts at the end of 2024, and warned that the United States "cannot be allowed to own Bitcoin" despite Donald Trump's promise to explore how to include BTC on the US balance sheet.
Riskier assets such as cryptocurrencies immediately fell sharply in price. For example, Bitcoin fell from more than $105,000 to below $99,000 for the first time since December 11. Compared with the high of more than $108,000 on Tuesday afternoon, the loss widened to nearly $10,000.
However, altcoins were affected more severely. Many altcoins have fallen by double digits from their respective peaks to troughs, including XRP, DOGE, AVAX, PEPE, LTC, and LINK.
Interestingly, Santiment weighed in on the correction, noting that the latter four would be potential beneficiaries if the Fed-induced crash was an overreaction by the market.
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Although the Federal Reserve cut its benchmark interest rate by 25 basis points as expected, several comments from Jerome Powell had an extremely negative impact on the entire crypto market.
The central bank chairman warned that there may be fewer rate cuts in 2025 after three consecutive rate cuts at the end of 2024, and warned that the United States "cannot be allowed to own Bitcoin" despite Donald Trump's promise to explore how to include BTC on the US balance sheet.
Riskier assets such as cryptocurrencies immediately fell sharply in price. For example, Bitcoin fell from more than $105,000 to below $99,000 for the first time since December 11. Compared with the high of more than $108,000 on Tuesday afternoon, the loss widened to nearly $10,000.
However, altcoins were affected more severely. Many altcoins have fallen by double digits from their respective peaks to troughs, including XRP, DOGE, AVAX, PEPE, LTC, and LINK.
Interestingly, Santiment weighed in on the correction, noting that the latter four would be potential beneficiaries if the Fed-induced crash was an overreaction by the market.
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PEPE Price Outlook is Positive
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The price of Pepe reached an all-time high (ATH) of $0.000028 on December 9 and experienced a 26.6% pullback over the next 9 days. As of Thursday, it re-tested the 50% price retracement level from the November 4 low of $0.000007 to the ATH of $0.000028, reaching $0.000018. This level roughly aligns with the daily support level of $0.000017, making it a key reversal area.
Similar to DOGE, off-exchange investors can accumulate the frog-themed memecoin around the $0.000018 level.
If PEPE rebounds from the $0.000018 level, it may extend a 28% uptrend, re-testing the Monday high of $0.000024.
However, the RSI on the daily chart has fallen below the neutral level of 50, indicating strong bearish momentum. If the bulls indeed make a comeback, the RSI must stay above the neutral level. Such a development would provide momentum for a recovery bounce.
Conversely, if PEPE fails to find support near $0.000018 and closes below $0.000017, it may extend a 6.8% downtrend, re-testing its weekly support level of $0.000016.
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The price of Pepe reached an all-time high (ATH) of $0.000028 on December 9 and experienced a 26.6% pullback over the next 9 days. As of Thursday, it re-tested the 50% price retracement level from the November 4 low of $0.000007 to the ATH of $0.000028, reaching $0.000018. This level roughly aligns with the daily support level of $0.000017, making it a key reversal area.
Similar to DOGE, off-exchange investors can accumulate the frog-themed memecoin around the $0.000018 level.
If PEPE rebounds from the $0.000018 level, it may extend a 28% uptrend, re-testing the Monday high of $0.000024.
However, the RSI on the daily chart has fallen below the neutral level of 50, indicating strong bearish momentum. If the bulls indeed make a comeback, the RSI must stay above the neutral level. Such a development would provide momentum for a recovery bounce.
Conversely, if PEPE fails to find support near $0.000018 and closes below $0.000017, it may extend a 6.8% downtrend, re-testing its weekly support level of $0.000016.
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Dogecoin price shows signs of recovery potential
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Dogecoin (DOGE) and Pepe (PEPE) prices retraced over 10% this week and retested their key support levels on Thursday. Off-exchange investors looking to accumulate dog-themed and frog-themed meme coins may consider buying at their support levels in hopes of a potential rebound in the future.
Dogecoin price reached an annual high of $0.48 on December 8, then fell over 23% in the following 10 days. On Tuesday, Dogecoin retested the 50-day exponential moving average (EMA) at $0.35. This level roughly aligns with the 61.8% Fibonacci retracement level from the low of $0.14 on November 3 to the high of $0.48 on December 8, making it a crucial reversal area. As of Thursday when this article was written, the price has slightly rebounded, trading around $0.36.
Off-exchange investors looking to accumulate dog-themed memecoins can invest around the $0.35 level.
If the $0.35 support level holds and DOGE recovers, it may continue its recovery momentum of 13.5%, retesting the high of $0.41 from Tuesday.
However, the relative strength index (RSI) on the daily chart has fallen below the neutral level of 50, indicating strong bearish momentum. If the bulls do come back, the RSI must remain above the neutral level. Such a development would add momentum for a recovery rebound.
However, if DOGE fails to find support near $0.35 and closes below $0.34, it may continue its decline of 7%, retesting its next support level at $0.31.
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Dogecoin (DOGE) and Pepe (PEPE) prices retraced over 10% this week and retested their key support levels on Thursday. Off-exchange investors looking to accumulate dog-themed and frog-themed meme coins may consider buying at their support levels in hopes of a potential rebound in the future.
Dogecoin price reached an annual high of $0.48 on December 8, then fell over 23% in the following 10 days. On Tuesday, Dogecoin retested the 50-day exponential moving average (EMA) at $0.35. This level roughly aligns with the 61.8% Fibonacci retracement level from the low of $0.14 on November 3 to the high of $0.48 on December 8, making it a crucial reversal area. As of Thursday when this article was written, the price has slightly rebounded, trading around $0.36.
Off-exchange investors looking to accumulate dog-themed memecoins can invest around the $0.35 level.
If the $0.35 support level holds and DOGE recovers, it may continue its recovery momentum of 13.5%, retesting the high of $0.41 from Tuesday.
However, the relative strength index (RSI) on the daily chart has fallen below the neutral level of 50, indicating strong bearish momentum. If the bulls do come back, the RSI must remain above the neutral level. Such a development would add momentum for a recovery rebound.
However, if DOGE fails to find support near $0.35 and closes below $0.34, it may continue its decline of 7%, retesting its next support level at $0.31.
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Leading Altcoins of 2024: Cardano Price Expected to Rise by 1000%, Solana Gaining Bullish Momentum in the Market, and New Viral Altcoins Offering 40% Returns for Early Investors
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As 2024 comes to a close, the cryptocurrency market continues to rise, with certain altcoins standing out for their exceptional growth potential. Three major players have emerged in the field: Cardano (ADA), Solana (SOL), and newcomer Yeti Ouro (YETIO). Each token is attracting attention for different reasons—Cardano for its upcoming upgrades, Solana for its expanding ecosystem, and Yeti Ouro for its early success and substantial returns.
Why Analysts Predict a 1000% Rise: Hydra Scaling Upgrade: The Hydra Layer 2 solution will be implemented on August 9, 2024, significantly enhancing the network's transaction speed and attracting more developers and projects. DeFi Expansion: Cardano's ecosystem is rapidly evolving, with new decentralized applications (dApps) and liquidity entering its market. Strong Institutional Interest: Cardano continues to attract institutional investors due to its focus on sustainability and a robust academic approach to blockchain development.
Why These Altcoins are the Top Picks for 2024: Cryptocurrency experts unanimously agree that Cardano, Solana, and Yeti Ouro represent the best investment opportunities for 2024 due to their unique growth trajectories: Cardano offers unparalleled scalability and institutional appeal, laying the groundwork for long-term gains. Solana continues to dominate in the Web3 space, with increased adoption and improved stability driving its bullish outlook. Yeti Ouro, as an emerging player, has high-risk, high-reward potential, with its successful presale and P2E focus attracting investor interest.
The cryptocurrency market is poised for significant growth, and savvy investors are diversifying their portfolios through the best-performing altcoins. Cardano and Solana provide stability and long-term potential, while Yeti Ouro offers explosive profit opportunities through its innovative presale and early growth.
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As 2024 comes to a close, the cryptocurrency market continues to rise, with certain altcoins standing out for their exceptional growth potential. Three major players have emerged in the field: Cardano (ADA), Solana (SOL), and newcomer Yeti Ouro (YETIO). Each token is attracting attention for different reasons—Cardano for its upcoming upgrades, Solana for its expanding ecosystem, and Yeti Ouro for its early success and substantial returns.
Why Analysts Predict a 1000% Rise: Hydra Scaling Upgrade: The Hydra Layer 2 solution will be implemented on August 9, 2024, significantly enhancing the network's transaction speed and attracting more developers and projects. DeFi Expansion: Cardano's ecosystem is rapidly evolving, with new decentralized applications (dApps) and liquidity entering its market. Strong Institutional Interest: Cardano continues to attract institutional investors due to its focus on sustainability and a robust academic approach to blockchain development.
Why These Altcoins are the Top Picks for 2024: Cryptocurrency experts unanimously agree that Cardano, Solana, and Yeti Ouro represent the best investment opportunities for 2024 due to their unique growth trajectories: Cardano offers unparalleled scalability and institutional appeal, laying the groundwork for long-term gains. Solana continues to dominate in the Web3 space, with increased adoption and improved stability driving its bullish outlook. Yeti Ouro, as an emerging player, has high-risk, high-reward potential, with its successful presale and P2E focus attracting investor interest.
The cryptocurrency market is poised for significant growth, and savvy investors are diversifying their portfolios through the best-performing altcoins. Cardano and Solana provide stability and long-term potential, while Yeti Ouro offers explosive profit opportunities through its innovative presale and early growth.
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Sui expected to break through the $5 mark
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Sui's price action has been strong on the daily chart, forming higher highs and higher lows since the end of October. The uptrend began in September when the local resistance of $0.9-1 was broken and retested as support.
The average volume has declined slightly over the past month, indicating a weakening buying pressure. The A/D indicator has slowed down significantly, especially in the past week.
The Ichimoku Kinko Hyo remains bullish, highlighting the strong support of the $3.2 and $4.1 areas. The cloud is thick, showing strong upward momentum in the past month.
At press time, the 23.6% extension level serves as short-term support. Although volatility is possible, the next target is more likely to be $5.38 rather than $3.5 or below.
The Fibonacci extension level of $4.5, which acted as resistance earlier this month, has now turned into a demand zone. The two-week review period shows that the liquidation level is concentrated around $4.3, with another liquidity level at $5.
The price has also fluctuated between these two levels over the past week, which explains the accumulation of liquidity. The decline in Bitcoin price and the consolidation phase of SUI mean that this range formation may continue for a few days.
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Sui's price action has been strong on the daily chart, forming higher highs and higher lows since the end of October. The uptrend began in September when the local resistance of $0.9-1 was broken and retested as support.
The average volume has declined slightly over the past month, indicating a weakening buying pressure. The A/D indicator has slowed down significantly, especially in the past week.
The Ichimoku Kinko Hyo remains bullish, highlighting the strong support of the $3.2 and $4.1 areas. The cloud is thick, showing strong upward momentum in the past month.
At press time, the 23.6% extension level serves as short-term support. Although volatility is possible, the next target is more likely to be $5.38 rather than $3.5 or below.
The Fibonacci extension level of $4.5, which acted as resistance earlier this month, has now turned into a demand zone. The two-week review period shows that the liquidation level is concentrated around $4.3, with another liquidity level at $5.
The price has also fluctuated between these two levels over the past week, which explains the accumulation of liquidity. The decline in Bitcoin price and the consolidation phase of SUI mean that this range formation may continue for a few days.
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Inflation concerns persist, Fed rate cuts impact Bitcoin and stock markets
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Bitcoin is often touted as a hedge against inflation, but after the Fed announced this news, Bitcoin plunged significantly, falling below $100,000 for the first time in weeks. The cryptocurrency dropped over 5%, but has since rebounded, down 3.21% in the past 24 hours and 8% from recent highs. Altcoins performed worse, with Ethereum and Solana down over 4%, and Dogecoin down 7%. Compared to their respective peaks, BTC, ETH, SOL, XRP, DOGE, and HYPE are down -8%, -11%, -23%, -13%, -23%, and -17%, respectively.
The Fed's dot plot reflects policymakers' expectations for future interest rates, showing a reduction in the forecast for rate cuts next year from four to two. According to Reuters, Powell emphasized that further rate adjustments will depend on measurable progress in curbing inflation, with expectations that inflation will remain above the 2% target until 2025.
The Fed initiated a loosening cycle in September with a 50 basis point (bps) rate cut, followed by a 25 basis point cut last month. The Fed chairman pointed out that inflation has improved from its peak in 2022, but warned that core inflation, particularly housing costs, remains difficult to overcome. "The degree and timing of any additional adjustments to the target range will depend on upcoming data, evolving outlooks, and risk balances," Powell stated, indicating that the Fed will proceed cautiously.
For the cryptocurrency market, the message is clear: a long-term tightening of monetary policy will pose significant resistance to digital assets, especially speculative altcoins.
With inflation still above target and expectations for a slowdown in the rate-cutting process, the cryptocurrency market will face greater volatility in the short term. Friday's inflation data and the Fed's January meeting will provide further clues about the direction of monetary policy.
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Bitcoin is often touted as a hedge against inflation, but after the Fed announced this news, Bitcoin plunged significantly, falling below $100,000 for the first time in weeks. The cryptocurrency dropped over 5%, but has since rebounded, down 3.21% in the past 24 hours and 8% from recent highs. Altcoins performed worse, with Ethereum and Solana down over 4%, and Dogecoin down 7%. Compared to their respective peaks, BTC, ETH, SOL, XRP, DOGE, and HYPE are down -8%, -11%, -23%, -13%, -23%, and -17%, respectively.
The Fed's dot plot reflects policymakers' expectations for future interest rates, showing a reduction in the forecast for rate cuts next year from four to two. According to Reuters, Powell emphasized that further rate adjustments will depend on measurable progress in curbing inflation, with expectations that inflation will remain above the 2% target until 2025.
The Fed initiated a loosening cycle in September with a 50 basis point (bps) rate cut, followed by a 25 basis point cut last month. The Fed chairman pointed out that inflation has improved from its peak in 2022, but warned that core inflation, particularly housing costs, remains difficult to overcome. "The degree and timing of any additional adjustments to the target range will depend on upcoming data, evolving outlooks, and risk balances," Powell stated, indicating that the Fed will proceed cautiously.
For the cryptocurrency market, the message is clear: a long-term tightening of monetary policy will pose significant resistance to digital assets, especially speculative altcoins.
With inflation still above target and expectations for a slowdown in the rate-cutting process, the cryptocurrency market will face greater volatility in the short term. Friday's inflation data and the Fed's January meeting will provide further clues about the direction of monetary policy.
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Dogecoin sentiment has once again fallen into the negative. Is it time to buy or sell?
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On Tuesday, cryptocurrency analyst Ali Martinez announced on X (formerly Twitter) that the market sentiment for Dogecoin has turned negative, indicating a shift in investor confidence in this meme coin.
Many in the cryptocurrency market are concerned about the recent changes in market sentiment due to the significant consolidation of Dogecoin's price. However, cryptocurrency analyst Cephii believes that this consolidation could catalyze a substantial price increase for Dogecoin.
The analyst stated, "The longer we consolidate here, the bigger the crack will be." This suggests that once the consolidation for Dogecoin ends, it may experience an explosive price increase. According to his price chart, the analyst predicts that once Dogecoin breaks through the key resistance area, its price could rise to $0.8.
Furthermore, Cephii pointed out that Dogecoin's social metrics remain strong. This may be because, despite the negative shift in market sentiment, there is still sustained bullish sentiment within the Dogecoin community.
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On Tuesday, cryptocurrency analyst Ali Martinez announced on X (formerly Twitter) that the market sentiment for Dogecoin has turned negative, indicating a shift in investor confidence in this meme coin.
Many in the cryptocurrency market are concerned about the recent changes in market sentiment due to the significant consolidation of Dogecoin's price. However, cryptocurrency analyst Cephii believes that this consolidation could catalyze a substantial price increase for Dogecoin.
The analyst stated, "The longer we consolidate here, the bigger the crack will be." This suggests that once the consolidation for Dogecoin ends, it may experience an explosive price increase. According to his price chart, the analyst predicts that once Dogecoin breaks through the key resistance area, its price could rise to $0.8.
Furthermore, Cephii pointed out that Dogecoin's social metrics remain strong. This may be because, despite the negative shift in market sentiment, there is still sustained bullish sentiment within the Dogecoin community.
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U.S. Senate Blocks Caroline Crenshaw's Reappointment to SEC Nomination: What This Means for Cryptocurrency
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Caroline Crenshaw, who has served as an SEC commissioner since 2022, is known for her tough stance on cryptocurrency. According to Fox Business reporter Elenor Terror, the Senate has decided not to advance her reappointment nomination, leaving a vacancy at the SEC. This is significant because the SEC governs the rules of financial markets, including cryptocurrency. In addition to Crenshaw's departure, SEC Chair Gary Gensler is also expected to leave in January. Gensler has had a tough approach toward cryptocurrency, but his successor, Paul Atkins, is expected to be more supportive of the industry. This could mean less regulation and more freedom for cryptocurrency development.
Under the law, Crenshaw's successor must be a Democrat, and several potential candidates are already being discussed. One strong contender is Georgetown Law Professor Chris Brummer, who was close to becoming the head of the CFTC in 2021. Another strong competitor is TuongVy Le, who is the Chief Legal Officer of cryptocurrency bank Anchorage Digital. These candidates are considered to be more friendly towards cryptocurrency. Other mentioned names include blockchain expert Jai Messai and New York Department of Financial Services advisor Carla Carriveau.
With the change in SEC leadership, Senator Cynthia Lummis predicts 2025 will be the year of Bitcoin, while David Sacks will become the cryptocurrency czar. After meeting with leaders, including elected President Donald Trump, to discuss future cryptocurrency-friendly appointments, Crypto.com dropped its lawsuit against the SEC, further bolstering this optimism. There are also rumors that the new chair may dismiss all pending cryptocurrency cases, starting with Ripple.
We must wait and see if Trump can make these strategic changes at the top of the government, as this is crucial if he wants his Bitcoin Strategic Reserve plan to succeed.
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Caroline Crenshaw, who has served as an SEC commissioner since 2022, is known for her tough stance on cryptocurrency. According to Fox Business reporter Elenor Terror, the Senate has decided not to advance her reappointment nomination, leaving a vacancy at the SEC. This is significant because the SEC governs the rules of financial markets, including cryptocurrency. In addition to Crenshaw's departure, SEC Chair Gary Gensler is also expected to leave in January. Gensler has had a tough approach toward cryptocurrency, but his successor, Paul Atkins, is expected to be more supportive of the industry. This could mean less regulation and more freedom for cryptocurrency development.
Under the law, Crenshaw's successor must be a Democrat, and several potential candidates are already being discussed. One strong contender is Georgetown Law Professor Chris Brummer, who was close to becoming the head of the CFTC in 2021. Another strong competitor is TuongVy Le, who is the Chief Legal Officer of cryptocurrency bank Anchorage Digital. These candidates are considered to be more friendly towards cryptocurrency. Other mentioned names include blockchain expert Jai Messai and New York Department of Financial Services advisor Carla Carriveau.
With the change in SEC leadership, Senator Cynthia Lummis predicts 2025 will be the year of Bitcoin, while David Sacks will become the cryptocurrency czar. After meeting with leaders, including elected President Donald Trump, to discuss future cryptocurrency-friendly appointments, Crypto.com dropped its lawsuit against the SEC, further bolstering this optimism. There are also rumors that the new chair may dismiss all pending cryptocurrency cases, starting with Ripple.
We must wait and see if Trump can make these strategic changes at the top of the government, as this is crucial if he wants his Bitcoin Strategic Reserve plan to succeed.
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After Bitcoin's Rise: Experts Say Altcoins with "Strong Fundamentals" Will Lead the Rise
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One of Martinez's most recommended projects is Worldcoin (WLD), which is led by OpenAI CEO Sam Altman. The project, which was renamed World Network in October, mainly uses eye scanning technology for identity verification and global financial integration. As of writing, the WLD token is trading at $2.70.
Another decentralized exchange Uniswap (UNI) also received a mention, which is one of the pioneers of DEX. The UNI governance token is worth $16.43 today. He then mentioned that AAVE, one of the pioneer decentralized lending protocols running on the Ethereum blockchain, has taken the lead. AAVE has risen about 2% in the past 24 hours to $378.59.
He also recommended Chainlink (LINK), known for its decentralized oracle network, which provides a decentralized and reliable communication method for smart contracts to utilize when exchanging data. According to the CNF report, the value of the LINK token is hovering around $27.84, and the analyst expects the bullish momentum to continue. Maker (MKR) is another altcoin he prefers due to its significant contribution to the DeFi space. The MKR token is currently trading at $1,750.75.
Martinez is also bullish on Solana (SOL), which is often called one of the Ethereum challengers due to its scalability and ecosystem growth, and is currently trading at $218.01. Last but not least, he mentioned BNB, the native token of the BNB Chain ecosystem, which is trading at $719.18 today.
Despite the recent breakout of the $108,000 price of BTC, BitMEX founder Arthur Hayes predicts a major Bitcoin crash. He predicts that the cryptocurrency market will crash on January 20, 2025, as Donald Trump begins his presidency. In a recent blog post, “Trump Truth,” Hayes predicts a “bad crash” for Bitcoin and altcoins. As a result, he recommends buying more Bitcoin during the decline, urging investors to “lick their wounds and get back on their feet.”
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One of Martinez's most recommended projects is Worldcoin (WLD), which is led by OpenAI CEO Sam Altman. The project, which was renamed World Network in October, mainly uses eye scanning technology for identity verification and global financial integration. As of writing, the WLD token is trading at $2.70.
Another decentralized exchange Uniswap (UNI) also received a mention, which is one of the pioneers of DEX. The UNI governance token is worth $16.43 today. He then mentioned that AAVE, one of the pioneer decentralized lending protocols running on the Ethereum blockchain, has taken the lead. AAVE has risen about 2% in the past 24 hours to $378.59.
He also recommended Chainlink (LINK), known for its decentralized oracle network, which provides a decentralized and reliable communication method for smart contracts to utilize when exchanging data. According to the CNF report, the value of the LINK token is hovering around $27.84, and the analyst expects the bullish momentum to continue. Maker (MKR) is another altcoin he prefers due to its significant contribution to the DeFi space. The MKR token is currently trading at $1,750.75.
Martinez is also bullish on Solana (SOL), which is often called one of the Ethereum challengers due to its scalability and ecosystem growth, and is currently trading at $218.01. Last but not least, he mentioned BNB, the native token of the BNB Chain ecosystem, which is trading at $719.18 today.
Despite the recent breakout of the $108,000 price of BTC, BitMEX founder Arthur Hayes predicts a major Bitcoin crash. He predicts that the cryptocurrency market will crash on January 20, 2025, as Donald Trump begins his presidency. In a recent blog post, “Trump Truth,” Hayes predicts a “bad crash” for Bitcoin and altcoins. As a result, he recommends buying more Bitcoin during the decline, urging investors to “lick their wounds and get back on their feet.”
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Arthur Hayes predicts that cryptocurrency will experience a 'painful drop' during Trump's inauguration
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As the January 20, 2025, inauguration of the U.S. president approaches, former BitMEX CEO Arthur Hayes predicts a pessimistic outcome for cryptocurrency. In his latest article, Hayes stated that cryptocurrency will experience a 'heart-wrenching crash' on the day of Donald Trump's inauguration.
Hayes currently manages a family office called Maelstrom and believes that changes in Trump’s administration's cryptocurrency policy will gradually occur. Many cryptocurrency investors expect Trump to quickly change the political landscape in the U.S. However, Hayes claims that Trump currently does not have a politically acceptable solution to rapidly implement such changes.
Hayes wrote, 'The market will immediately realize that Trump has at most one year around January 20 to implement any policy changes. This realization will lead to a significant sell-off of cryptocurrencies and other Trump 2.0 stocks.'
Since Trump's victory, the price of Bitcoin has risen over 50%, increasing from around $68,000 to a record $108,268. As of the writing of this article, BTC is trading at $104,133, down 3.15% in the last 24 hours. However, this leading currency has still risen 5.29% in the past week and 14.5% in the past month.
Trump's victory has raised expectations for significant changes in cryptocurrency regulation. The former president has promised to 'do great things in the cryptocurrency space,' including establishing a national Bitcoin strategic reserve.
The recent surge in spot Bitcoin exchange-traded funds (ETFs) has also fueled Bitcoin's upward momentum. According to a CNF report, the past week saw an astonishing net cash inflow of $2.17 billion into spot BTC ETFs led by BlackRock's IBIT and Fidelity's FBTC.
There are high expectations that Bitcoin will continue to soar in the coming days. Many market analysts predict that by the end of 2024, the price of BTC will reach $150,000.
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As the January 20, 2025, inauguration of the U.S. president approaches, former BitMEX CEO Arthur Hayes predicts a pessimistic outcome for cryptocurrency. In his latest article, Hayes stated that cryptocurrency will experience a 'heart-wrenching crash' on the day of Donald Trump's inauguration.
Hayes currently manages a family office called Maelstrom and believes that changes in Trump’s administration's cryptocurrency policy will gradually occur. Many cryptocurrency investors expect Trump to quickly change the political landscape in the U.S. However, Hayes claims that Trump currently does not have a politically acceptable solution to rapidly implement such changes.
Hayes wrote, 'The market will immediately realize that Trump has at most one year around January 20 to implement any policy changes. This realization will lead to a significant sell-off of cryptocurrencies and other Trump 2.0 stocks.'
Since Trump's victory, the price of Bitcoin has risen over 50%, increasing from around $68,000 to a record $108,268. As of the writing of this article, BTC is trading at $104,133, down 3.15% in the last 24 hours. However, this leading currency has still risen 5.29% in the past week and 14.5% in the past month.
Trump's victory has raised expectations for significant changes in cryptocurrency regulation. The former president has promised to 'do great things in the cryptocurrency space,' including establishing a national Bitcoin strategic reserve.
The recent surge in spot Bitcoin exchange-traded funds (ETFs) has also fueled Bitcoin's upward momentum. According to a CNF report, the past week saw an astonishing net cash inflow of $2.17 billion into spot BTC ETFs led by BlackRock's IBIT and Fidelity's FBTC.
There are high expectations that Bitcoin will continue to soar in the coming days. Many market analysts predict that by the end of 2024, the price of BTC will reach $150,000.
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