Worldcoin Introduces Enhanced World ID 2.0 with Broad Application Integration

Worldcoin recently unveiled World ID 2.0, an updated version of its identity verification feature. This new release, announced on December 12, expands its functionality by integrating with major platforms such as Shopify, Mercado Libre, Reddit, and Telegram.

These integrations allow users to verify their identity on these platforms, enhancing security and user experience.
Building on existing integrations with Discord, Talent Protocol, and Okta’s Auth0, World ID 2.0 introduces multiple levels of authentication, from 'lite' to 'max.' This variety caters to different security needs across applications, allowing users to share only the necessary amount of information. High-security applications might require orb-verified IDs, while others focused on convenience might accept a 'Device Auth' ID linked to the user's mobile phone.

A key aspect of this update is its application in e-commerce, particularly for Shopify stores. Store owners can now set the desired level of humanness verification for activities like coupon redemption, with options ranging from device verification on smartphones to the more secure orb-verified level.

Worldcoin asserts that these new features will significantly reduce losses due to fraudulent activities like return fraud and bot interference, commonly affecting retailers. According to a report, these issues cost retailers around $100 billion annually.

World ID 2.0 aims to tackle this problem by providing robust verification without compromising users' personal data.
The highest level of security in World ID 2.0, involving iris scanning for a zero-knowledge proof, has stirred controversy. Critics express concerns about potential biometric data leaks.

However, Worldcoin maintains that it only stores the proof of the iris scan, not the scan itself, ensuring user privacy and security. This development marks a significant step in digital identity verification, blending security, convenience, and user privacy.

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Is #Tether Becoming America’s Defacto CBDC?
In the stablecoin sector, Tether is emerging as a dominant force, with some suggesting it could become akin to a global central bank digital currency (CBDC). Discussions in the crypto industry, sparked by comments from Cantor Fitzgerald CEO Howard Lutnick praising Tether, highlight its potential. Lutnick, whose firm is a notable player in global finance, expressed his support for Tether, noting its significant treasury holdings, which exceed $90 billion.
The comparison of Tether to a CBDC has been a topic of discussion, with Glassnode analyst “Checkɱate” even declaring Tether as the de facto CBDC. He argued that Tether’s ability to operate despite potential governmental interventions signifies its strength and the U.S. government’s implicit approval. Checkɱate also pointed out Tether's role in the dollarization of emerging markets, where it is preferred over local unstable currencies, indirectly supporting the U.S. economy.
David Batten, a Bitcoin ESG advocate, highlighted differences between Tether and traditional CBDCs, noting that Tether doesn't directly involve itself in initiatives like green Bitcoin mining or educational partnerships.
The notion that Tether operates with U.S. government tacit approval was echoed by former portfolio manager Travis Kling, who remarked that Tether’s existence depends on U.S. regulatory acceptance. There's also been opposition in the U.S. to a Federal Reserve-controlled CBDC.
Meanwhile, Tether has been distancing itself from U.S. influence amid the broader crackdown on crypto. It has become the preferred stablecoin globally, particularly in emerging markets. Rob Hadick of Dragonfly Capital noted this trend, emphasizing Tether’s usage for transactions outside the regulated U.S./UK sphere.
Tether’s market cap has soared to a record $90 billion, securing about 70% of the stablecoin market share. In contrast, Circle’s market cap is around $24 billion, with its market share reducing to 18%. These dynamics underscore Tether's growing influence and potential as a global stablecoin leader.

#Ripple $XRP to Hit $1 By the end of This Month?

XRP, Ripple's native token, has recently seen a price decline, dropping from about $0.70 to $0.60. Despite this dip, analysts foresee a potentially bright future for XRP, with predictions of significant growth by the end of 2023, possibly exceeding $1.20.

EGRAG CRYPTO, a notable analyst on Twitter, presents two future scenarios for XRP. The "Blue Route" suggests a near-term increase, with XRP's price potentially surpassing $1.20 soon, followed by a correction and then a rise to an all-time high of $5.50 by late 2024.

Alternatively, the "Green Route" paints a short-term bearish picture, with XRP possibly dropping to around $0.50 by Christmas.

However, this scenario also predicts a dramatic surge to as high as $22.50 by mid-2024.

Support from major cryptocurrency exchanges is also seen as a key factor in boosting XRP's prospects. The re-listing of XRP on platforms like Coinbase, Kraken, Crypto.com, and recent support from Blockchain.com, could play a significant role in its potential price increase.

Despite the current downward trend, the optimistic outlook hinges on these predictions and the anticipated exchange support, leading to speculation that XRP could reach new highs before the end of 2023 and continue its upward trajectory into the following year. These scenarios underscore the dynamic and unpredictable nature of the cryptocurrency market, where investor sentiment and market support can significantly influence asset prices.

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Bitcoin #BTC supply on centralized crypto exchanges has dropped to a six-year low, signaling a decrease in selling intentions.

This observation is detailed in the latest #Bitfinex report, which notes that exchange-held BTC has been diminishing for 45 consecutive months, a trend coinciding with Bitcoin hitting a significant resistance level at $45,000.

The ongoing decline in BTC availability on exchanges is seen as a bullish sign, indicating a growing preference among investors to hold their assets longer. Typically, long-term investors or large holders move their BTC to exchanges for selling purposes and withdraw them to cold wallets for extended storage when not intending to sell. This shift suggests a move towards decentralized and self-custody solutions, reflecting a reduced interest in selling.

This reduction in exchange-held BTC, persisting since 2017, significantly influences Bitcoin's volatility, liquidity, and overall market dynamics. Concurrently, Bitcoin deposit transactions to exchanges have fallen to levels not seen since July 2020, pointing towards diminished selling pressure.

Moreover, Bitcoin recently experienced a surge, crossing $44,000, a 170% increase from the year's start. However, it encountered resistance at $45,000, after which it fell to around $41,700. Bitfinex highlights that this resistance level is crucial for medium-term investors who acquired BTC two to three years ago. Overcoming this resistance in December would mark one of Bitcoin's most significant yearly recoveries in percentage terms.

Additionally, the Spent Output Profit Ratio indicates that many holders are currently in profit, staying above one for 44 consecutive days. This metric, along with the reduction in exchange-held BTC and lower deposit transactions, paints a picture of a market leaning towards holding rather than selling, with implications for Bitcoin's future price movements.

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Solana Impressive Achievement Against Ethereum

Solana Surpassed #Eth in NFT sales a few days ago and registered a more significant rise on a weekly basis.

Solana's cryptocurrency, #sol recently reached a high of nearly $75, a level last seen in May 2022, and is currently valued around $71. This surge coincides with Solana's notable growth in non-fungible token NFT sales volume. According to CryptoSlam, Solana’s NFT sales volume increased by 53% in a week, reaching nearly $68 million, briefly surpassing Ethereum in this metric. While Ethereum's NFT sales volume stands at about $100 million, it has seen a 5% decline over the same period.
A significant highlight in Solana's recent achievements is the performance of its memecoin, Bonk Inu (BONK). #BONK has seen a dramatic 400% price increase within a month, achieving an all-time high on December 9. Its market capitalization now is around $800 million, making it the 81st largest cryptocurrency. This rise in BONK's value may be attributed to the overall positive trend of Solana and the ongoing popularity of memecoins. Notably, BONK has outperformed other prominent memecoins like Dogecoin #Doge🦊 and Shiba Inu #SHIB , which have experienced more modest increases recently. These developments highlight Solana's growing influence and dynamic presence in the cryptocurrency market.

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KuCoin to Exit New York and Pay $22 Million in Settlement Deal: Report

KuCoin, a major cryptocurrency exchange, has settled with the New York Attorney General (NYAG) and will cease its services in New York.
The settlement involves a $22 million payment, including $5.3 million to New York State and $16.7 million in crypto refunds to about 180,000 New York investors.
NYAG Letitia James sued KuCoin in March 2023 for selling unregistered securities, including Ether (ETH), Terra (LUNA), and TerraUSD (UST).
The lawsuit claimed these tokens were securities and commodities sold without proper registration.
KuCoin CEO Johnny Lyu announced the settlement and informed that affected users will be notified via email or SMS within 10 days. Lyu emphasized the priority of asset security during this process.
New York continues its strict oversight of the crypto industry. Besides KuCoin, other exchanges like CoinEx have also settled with the NYAG for illegal operations, with CoinEx paying nearly $2 million in refunds and penalties and ceasing its New York operations. Tether and Bitfinex previously reached a similar settlement.
Recently, the NYAG took action against Genesis, Gemini, and Digital Currency Group (DCG), alleging fraud of over $1 billion from more than 230,000 investors. These developments highlight New York's firm stance on cryptocurrency regulation and compliance.

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El Salvador’s Bitcoin ‘Volcano Bonds’ Receive Regulatory Green Light for 2024 Debut & Partnership with TETHER

El Salvador's long-anticipated Volcano Bonds, backed by Bitcoin and designed to settle sovereign debt and fund Bitcoin City's construction, have received regulatory approval. The Digital Assets Commission has given the green light, with a 2024 rollout planned.
Bitfinex Securities will host the bonds, which gained attention after El Salvador made Bitcoin legal tender in 2021. President Nayib Bukele emphasized the profitability of El Salvador's Bitcoin investment, with holdings now exceeding $130 million.
Initially set for a March 2022 launch, delays ensued, but approval came with the digital assets law passed in late 2022. These bonds aim to raise $1 billion, supporting a Bitcoin mining industry powered by renewable energy from volcanoes.
El Salvador also partnered with Tether for the "Adopting El Salvador Freedom Visa Program," offering residency to those investing a minimum of $1 million in Bitcoin or USDT stablecoins, with applicants submitting a $999 deposit.
These developments showcase El Salvador's ongoing commitment to embracing Bitcoin and its potential economic benefits.

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Experts predict a 90% chance of a spot Bitcoin ETF launching in January 2024, citing a decisive US Court of Appeals Circuit stance against SEC objections. The potential ETF's impact on the crypto industry is significant, as it would simplify institutional investor entry. Competing institutions, including BlackRock, WisdomTree, Valkyrie, Fidelity, ARK, Grayscale, aim to offer this product.
Key Points:
1. Anticipate a 90% chance of a spot Bitcoin ETF launching in Jan 2024, with approval expected between Jan 5th and 10th.
2. BlackRock filed the iShares Bitcoin Trust on June 16, 2023, resulting in a 63% Bitcoin price surge from $25,500 to over $40,000, showcasing institutional interest.
3. ETF approval timelines vary widely due to complexity, regulatory reviews, and discussions.
4. Approval is expected to significantly impact Bitcoin's price, with analysts foreseeing a potential $100,000 valuation.
BlackRock Bitcoin ETF Approval:
Early 2024 is the likely timeframe for BlackRock's Bitcoin ETF and competing products' approval. Analysts James Seyffart and Eric Balchunas from Bloomberg foresee a Jan 5th to 10th approval window, aligning with the SEC's deadline for ARK's ETF decision. Bryan Armour, a Morningstar ETF analyst, predicts simultaneous approval of multiple spot Bitcoin ETFs for investor comparison.
BlackRock's ETF Filing:
BlackRock submitted the iShares Bitcoin Trust filing on June 16, 2023. With over $8.5 trillion in assets under management, BlackRock played a pivotal role, driving Bitcoin's price from $25,500 to around $44,600, a 63% gain.
ETF Approval Timeline:
The ETF approval process duration varies due to factors like complexity, completeness, regulatory scrutiny, and issuer-regulator discussions. Timelines range from months to over a year. The SEC's cautious stance on crypto and regulatory gaps caused spot Bitcoin ETF launch delays. However, increased institutional ETF applications pressure the SEC to act.
In Conclusion:
Spot Bitcoin ETF approval could significantly impact Bitcoin's price and digital asset market.
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BTC’s price showed little-to-no volatility after the news went out.

1. BTC Price Stability: Bitcoin's price remained remarkably stable in response to recent events, displaying minimal volatility.

2. CPI Data Release: On December 12th, the United States unveiled its Consumer Price Index (CPI) data for November, revealing a slight increase in comparison to the same period the previous year.

3. Accurate Analyst Predictions: The majority of US analysts had anticipated a 3.1% year-over-year increase in the November CPI, and these predictions were validated by the actual government data. Similarly, the core CPI, excluding volatile sectors like food and energy, was accurately projected at 4%.

4. Comparison to October: The November CPI figures closely mirrored those of October, with the primary difference being a 3.2% CPI reading for the previous month.

5. Changing BTC Price Reaction: While Bitcoin used to react with heightened volatility to CPI data releases earlier in the year, this pattern has shifted recently. Bitcoin's price remained resilient, hovering consistently just below the $42,000 mark throughout the day, indicating a notable change in its response to CPI releases.

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Here’s Why Avalanche (AVAX) Is Up 80% Weekly

Avalanche’s on-chain metrics provide compelling evidence, confirming AVAX’s resilience amidst the broader market correction.

Avalanche has been on a tear lately. The native token of the Layer 1 network – AVAX –  stood out as one of the major crypto assets resilient to the recent drawdown in the market. It has recorded a remarkable weekly gain of over 82%, in stark contrast to the declining performance of its peers.
AVAX surged to $40.26, surpassing Dogecoin and securing its position as the ninth-largest crypto by market capitalization. In the last 24 hours alone, the token has seen a more than 10% increase.

1-Avalanche’s on-chain metrics appear to be firmly supporting the uptrend.
2-The number of AVAX transactions surpassing $100,000 peaked at almost 1,000. While the current level remains below the high observed in the previous bull market, this increase is seen as a positive sign of the ongoing bullish trend.
3-On the ecosystem side of things as well, traditional financial heavyweights JPMorgan and Citi have roped in Avalanche Foundation for their real-world asset (RWA) tokenization initiatives, which could have further boosted optimism among investors.
4-Avalanche’s strategy to incentivize its validators has also resulted in a notable increase in its market value. As of December 7, this fourth-generation proof-of-stake blockchain has allocated more than $275 million in AVAX to reward its validators over the past year, a substantial contrast to its earnings of $11.5 million in user fees.
5-This bullish trend has not only impacted the cryptocurrency itself but has also extended to Avalanche’s leading decentralized exchange (DEX).
6-According to the data compiled by DefiLlama, the popular DEX experienced a notable surge in fee capture, reaching $1.23 million, marking the second-highest figure for the year.

#AVAX

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Avalanche , priced at $40.41, stands out in the cryptocurrency market with a remarkable 79% weekly gain, contrasting the overall decline in the sector. This surge is attributed to recent partnerships and increases in trading volume and total value locked. Notably, while Bitcoin at $41,674.5 and Ether at $2,216 experienced a 6% drop on December 11, AVAX saw a 13.6% rise in the last 24 hours.
Ryan Mcmillin, Chief Investment Officer at Merkle Tree Capital, links AVAX's popularity to partnerships with major financial institutions like JPMorgan and Citi for asset tokenization projects. The network also recorded a significant increase in daily transactions and active addresses.
The Total Value Locked (TVL) in the Avalanche network has surged by 82% over the last three months, reaching $894 million. During the same period, AVAX's trading volume skyrocketed by 2,436%. Henrik Andersson from Apollo Crypto highlighted that AVAX was previously undervalued compared to its TVL, especially when contrasted with Solana's market cap.
Andersson anticipates that in 2024, some altcoins, like Immutable and Synthetix , which have already outperformed Bitcoin since 2022, will continue to do well. CoinShares' report also indicates that while Bitcoin and Ether faced steep price declines, altcoins like Solana and Avalanche have attracted significant investments, solidifying their positions as favorites in the altcoin market.

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