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Officials from the People's Bank of China have revealed that they have developed a blockchain system that will enhance cross-border payments and aid simultaneous foreign exchange settlements.
#BlockchainFuture"
#crypto
#CryptoNews🔒📰🚫
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The #SUI token has increased by 4.24% over the past 24 hours, reaching the $4.50 psychological mark. With a market cap of $13.24 billion, the recovery hints at a potential bull run before the end of 2024. SUI Price Analysis Currently, the SUI token is trading at $4.5370 with an intraday pullback of 3.66%. This marks a bearish exhaustion after the overnight recovery of 9%. The surge last night created a bullish engulfing candle to complete a morning star pattern. This resulted in a 24-hour high of $4.75. In the 4-hour price chart, the SUI token showcases a bullish dominance at the local support trendline, resulting in two consecutive engulfing candles. The recovery run breached the 50% Fibonacci level but failed to sustain the bullish dominance. With three consecutive bearish candles, the minor intraday pullback creates a triple black crow setup. This breaks under the 50% Fibonacci level and is heading to challenge the 50 EMA line at $4.42. Furthermore, it puts the $4.50 psychological mark at risk and warns of another retest of the local support trendline. #CryptoNewsFlash SUI Price Chart
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"IRS Pushes for Taxes on Unrealized Crypto Staking Profits: A Controversial Decision"
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Software firm MicroStrategy announces a special shareholder meeting to discuss acquiring more Bitcoin through increased company share sales. MicroStrategy has gone ballistic with its #Bitcoin cravings, with the Michael Saylor-chaired firm constantly thinking of means to buy more of the premier asset. In the latest development, shareholders of the business intelligence firm will meet today to discuss how to buy more Bitcoin. According to the disclosure, MicroStrategy’s shareholders will discuss and vote on key proposals to enhance its 21/21 Bitcoin strategy. An integral part of the session would be a quest to increase the number of shares available for sale. MicroStrategy to Deliberate on Shares Issuance The software firm will vote on internal ways to raise more capital to procure Bitcoin through share sales. Subject to approval, it intends to increase the issuance of its common and preferred shares. MicroStrategy proposes increasing the authorized class A shares from $300 million to $10.33 billion. It also intends to raise the authorized preferred share issuance from $5 million to $1.005 billion. Meanwhile, this would facilitate capital attainment for more Bitcoin purchases. Notably, MicroStrategy raised $561 million last week by issuing over one million of its shares and bought 5,262 BTC with the realized funds. Furthermore, the publicly traded pro-Bitcoin company will deliberate on aligning incentives for new directors with its Bitcoin strategy. MicroStrategy shareholders will vote on an amendment to the 2023 Equity Incentive Plan, which would automatically award equities to new board directors. Notably, MicroStrategy’s Bitcoin playbook has gained traction, with public firms like Marathon Digital and Metaplanet adopting the strategy. Lawmakers in regions like Russia and the European Union are also considering storing their reserves in Bitcoin as the asset nears mainstream adoption. #CryptoNewsCommunity
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On-chain data confirms that large #shiba⚡ Inu whales are buying the ongoing dip, even as SHIB retests critical support levels. For context, Shiba Inu (SHIB) recently retested the crucial support around $0.00002 when it collapsed to a floor price of $0.00002095 yesterday. However, the meme coin rebounded quickly, managing a 4.55% intraday gain to hold above $0.000022. Shiba Inu Net Inflow Spikes 7,140% Despite Price Drop Nonetheless, this bearish phase has not impacted confidence among large whales. Data from IntoTheBlock, which defines these whales as wallets holding at least 0.1% of SHIB’s circulating supply, indicates that the tier of addresses have been buying large chunks of SHIB since Dec. 10. These whales have mostly witnessed positive netflows during this period, but the latest data confirms that they boasted a net inflow of 799.32 billion SHIB worth over $17.5 million yesterday. This figure represents an 11-day peak in positive netflows into these addresses. Further data scrutiny reveals that the addresses actually procured 1.21 trillion SHIB worth $26.6 million yesterday, but sold about 413 billion tokens ($9.1 billion), resulting in the net inflow of 799.32 billion SHIB. This represented a massive 7,140% increase from the previous day’s figure of 11.04 billion tokens. Notably, throughout Q4 2024, net inflows to these addresses have outpaced outflows by nearly five times. The highest intraday net outflow from these addresses amounted to 951.84 billion SHIB on Nov. 6. However, the highest net inflow was 3.47 trillion tokens on Nov. 12, as SHIB retested the $0.000028 region. The Crypto Basic called attention to some of these accumulation moves in previous times. Notably, in mid-October, a whale accumulated 83.3 billion SHIB tokens as the market aimed to rebound from a previous downtrend. A new whale procured 397 billion tokens in August. #CryptoNewss
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#Bitcoin ’s loss of the $94,000 support level has driven market-wide crypto liquidations to $242.21 million. However, unlike previous liquidation runs, the difference between long and short liquidations has significantly reduced. Long-side liquidations total $128.98 million, while short-side liquidations account for $113.28 million. Bitcoin Price Analysis In the daily chart, BTC’s price action showcases an intraday pullback of 1.06%. Currently, Bitcoin is trading at $93,990, creating its fourth consecutive red candle. Furthermore, as predicted in our last price analysis article, BTC price managed to create a doji candle with a lower price rejection from the 50-day EMA. This has increased the chances of a Morning Star pattern. However, the intraday pullback limits the chances. Nevertheless, with Bitcoin sustaining above the 50-day EMA line, the chances of a comeback are still significant. BTC has witnessed lower price rejections and bounce-backs from levels above $90,000 multiple times in the last month. However, the slowdown in bullish momentum has dropped the RSI line to 42.38 as it inches closer to the oversold boundary line. Hence, the technical indicator maintains a bearish outlook. #CryptoNews🚀🔥V
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