FIFA and Mythical Games are teaming up to launch FIFA Rivals, a free-to-play soccer game set for release in summer 2025 on iOS and Android. Players can manage their own soccer clubs and compete in real-time arcade gameplay. Powered by the Mythos blockchain and secured by Polkadot, this game is part of a trend where sports associations partner with blockchain studios to offer interactive fan experiences. Mythical's CEO expects the game to attract over 100 million gamers, building on the success of their NFL Rivals game. The Mythos Foundation supports this initiative by fostering cross-chain infrastructure and NFT economies.
**Crypto News Flash: Solana ETFs and FTX Updates**
- The Cboe BZX Exchange has filed for four new spot Solana ETFs, awaiting approval from the SEC. This comes as SEC Chair Gary Gensler announces his resignation for January 2025.
- FTX has outlined a timeline for creditor and customer reimbursements, aiming for finalization by January 2025, with initial payouts expected in March.
- Meanwhile, MicroStrategy has raised $3 billion through convertible notes to purchase more Bitcoin, despite a 25% drop in its stock.
- Coinbase CEO Brian Armstrong is set to meet with President-elect Trump to discuss potential administration roles.
Dr. XinXin Fan from IoTeX has co-authored a groundbreaking paper on making Ethereum quantum-resistant, winning the Best Paper award at the 2024 International Conference for Blockchain. The research suggests using hash-based zero-knowledge technology, like ZK-Stark, to secure Ethereum against quantum threats. This method allows users to keep their current wallets while adding a quantum-safe proof to each transaction.
The urgency for such measures grows as NIST sets a 2035 deadline for transitioning to post-quantum security. Despite recent claims of quantum computers breaking encryption, experts argue that current encryption standards remain secure.
Bitcoin could hit $180,000 by late 2025, says Georgii Verbitskii, founder of TYMIO. He predicts BTC will first climb to $100K-$120K by early 2025, before potentially doubling. Verbitskii advises traders to manage risks through diversification and limit orders. A looming supply shock, driven by the 2024 halving and lost keys, could keep volatility high. Bitcoin's scarcity is increasing, with exchange reserves hitting multi-year lows. This, combined with macroeconomic factors, may push prices higher, according to Onramp Bitcoin's Jesse Myers.
Bitcoin enthusiasts are buzzing with predictions that BTC could hit $125,000 by year-end. Betting platform Kalshi shows an 85% chance of Bitcoin reaching $100,000 before 2024 ends, with a wild 9% chance of hitting $150,000. The median forecast suggests $125,000 is on the horizon.
Bitcoin's price surged nearly 40% in November, driven by institutional investors and ETFs absorbing sell-side pressure. Despite calls for a market retracement, Bitcoin's psychological barrier remains at $100,000. With US Bitcoin ETFs seeing record inflows, the market's momentum shows no signs of slowing.
Bitcoin ETFs in the U.S. are seeing a surge, with $2.42 billion in inflows during the week of Nov. 18-22, marking their fourth-best week ever. This comes on the heels of Donald Trump's election win, which has sparked a Bitcoin price rally, pushing it to a record high of $99,800.
Meanwhile, China-based ETFs experienced unprecedented outflows of over $2 billion, reflecting growing economic concerns despite government stimulus efforts. The iShares China Large-Cap ETF saw significant withdrawals, highlighting declining consumer confidence in China.
As Bitcoin nears the $100,000 mark, opinions vary on the rally's sustainability, with some experts calling for market adjustments.
**Ether Price Outlook: Potential Correction Before New Highs**
Ether (ETH) has surged over 33% in the past month, trading above $3,368. However, a short-term correction might be on the horizon as Bitcoin (BTC) approaches the $100,000 mark. Gracy Chen, CEO of Bitget, suggests that Bitcoin's next drawdown could impact Ether's price.
Despite this, long-term prospects remain bullish. Analyst Wolf predicts Ether could hit $20,000 in 2025, supported by technical patterns and Ethereum's role as a leading smart contract platform. While Bitcoin's rally has overshadowed Ether, experts believe Ether will reclaim its all-time high by year's end.
Dogecoin (DOGE) has surged 27% this week, hitting a yearly high of $0.48 on November 23. The memecoin's monthly gains stand at an impressive 236%, making it the third-most traded crypto with $19.5 billion in 24-hour trading volume. Analysts are speculating a potential retest of its all-time high at $0.73, with targets as high as $1.25 in the near future. Some experts even suggest DOGE could reach $3 by 2024, driven by Fibonacci trends. However, predictions of DOGE hitting $30 by 2025 are seen as overly optimistic, given current market conditions.
Alexey Pertsev, the developer behind Tornado Cash, faces extended pre-trial detention, complicating his appeal preparations. This comes amid heightened scrutiny of his cryptocurrency mixing protocol, which saw a 45% surge in deposits in early 2024. Despite Tornado Cash's non-custodial nature, Pertsev was convicted of laundering $1.2 billion and sentenced to over five years in prison. His case underscores the challenges for developers of privacy-focused technologies in navigating legal compliance. Lawmakers are pressing for answers on the protocol's continued operation post-sanctioning.
The CFTC has given a nod to blockchain technology for managing trading collateral in US derivatives markets, according to a recent report. This move highlights blockchain's potential to tackle challenges in traditional exchanges and expand collateral asset options. Commissioner Caroline D. Pham emphasized the global success of asset tokenization and the need for regulatory clarity in the US. Blockchain could enable real-time, peer-to-peer asset transfers without intermediaries. Meanwhile, the DTCC is testing blockchain for trade settlements, signaling a shift towards embracing crypto as collateral.
The Sui blockchain ecosystem is making waves with impressive growth and a rally in its native SUI token. Router Protocol's CEO, Ramani Ramachandran, attributes this success to Sui's developer-friendly environment and strong community support. Sui's use of the Move programming language and a user-friendly interface has attracted developers, setting it apart from other layer-1 projects.
Recent reports highlight Sui's rise, with a 140% increase in daily active addresses in September and a market cap of $9.9 billion. Partnerships, like the one with Franklin Templeton, and innovations such as a blockchain-optimized gaming PC, further bolster Sui's appeal.
Mark Uyeda, a Republican commissioner at the SEC, has highlighted the need for regulatory clarity in the crypto space. Speaking to Fox Business, Uyeda criticized the current SEC leadership under Gary Gensler for its aggressive stance on crypto, labeling it a "war on crypto." With Gensler stepping down in January, speculation is rife about Uyeda potentially being tapped by President-elect Donald Trump to lead the SEC. Uyeda suggests creating regulatory sandboxes to foster innovation and emphasizes the need for collaboration with Congress and the White House for a unified approach.
Solana's native token, SOL, hit a record high of $264.50, fueled by Bitcoin's rise and a memecoin craze. Solana's decentralized exchanges (DEX) saw over $6 billion in daily trading, capturing 45% of the market, thanks to its low fees compared to Ethereum and others. With a total value locked (TVL) of $9.2 billion, Solana outpaces BNB Chain and matches Ethereum's top scaling solutions. Despite potential risks from leveraged trading, analysts see room for SOL's growth, given its market cap is still 70% below Ethereum's. The network's active DApp engagement hints at continued bullish momentum.
Bitcoin is on a tear, nearly hitting the $100,000 mark on Nov. 22, with experts warning short sellers to brace for potential losses. The surge is fueled by robust inflows into U.S. spot Bitcoin ETFs, which recently surpassed $100 billion in assets. However, the market's extreme greed, as indicated by CoinMarketCap's Crypto Fear & Greed Index, suggests a possible short-term pullback.
Meanwhile, other cryptocurrencies like Ether, Solana, and BNB are also experiencing significant gains, with analysts eyeing key resistance levels. Despite the bullish momentum, traders are advised to remain cautious and conduct thorough research before making investment decisions.
Stablecoins are gaining traction as a stable digital asset amidst crypto volatility. With Stripe's $1.1 billion acquisition of Bridge, stablecoins are proving their staying power. The big question is whether one stablecoin will dominate or if a multi-stablecoin ecosystem will thrive. Major players like Tether's USDT, Circle's USDC, and MakerDAO's DAI lead the market, while new entrants like PayPal's PYUSD are emerging. Stablecoins offer cheaper, faster payments and are crucial for DeFi access. The future of stablecoins could reshape financial services globally.
Bitcoin is making waves with its largest monthly gain ever, surging over 40% in November and nearing the $100,000 mark. This spike follows Donald Trump's recent presidential victory, which has sparked renewed interest in riskier assets like Bitcoin. Meanwhile, Trump Media is eyeing the crypto space, filing a trademark for "TruthFi," hinting at potential ventures in crypto trading and digital wallets.
In the UK, a comprehensive crypto regulation framework is expected by early 2025, aiming to cover stablecoins and staking services. Additionally, AI and big data tokens have surged by 131%, buoyed by Bitcoin's bullish momentum.
**Binance Boosts Compliance Team Amid Regulatory Focus**
Binance is ramping up its compliance department, planning to expand the team by 34% by the year's end. This move underscores the crypto exchange's commitment to regulatory adherence and ongoing transformation following its settlement with US regulators in 2023. The compliance team will soon boast 645 full-time members, with over 1,000 including contractors.
The company is hiring from traditional finance and government sectors, with notable additions like Todd McElduff as enterprise compliance director. Binance's increased compliance spending reflects its dedication to setting industry standards.
Franklin Templeton is teaming up with Sui to explore new blockchain technologies on the Sui network, aiming to support ecosystem builders and innovate with the Sui blockchain protocol. Known for its rapid smart contract deployment, Sui is often seen as a competitor to Solana. Meanwhile, Grayscale has launched an investment fund focused on Sui's native token, SUI. Despite a recent outage, Sui continues to attract interest, with stablecoins like USDC launching on its platform. Franklin Templeton's tokenized money market fund, FOBXX, has amassed nearly $400 million in assets since its 2021 debut.
Bitcoin's value debate continues as critics like Warren Buffett dismiss it as lacking intrinsic value. However, its evolution into a regulated asset and legal tender in some regions suggests a more complex picture. Key factors driving Bitcoin's price include its fixed supply, which is capped at 21 million, and the impact of halving events that reduce new supply, historically triggering price surges.
Institutional adoption, such as BlackRock's Bitcoin ETFs, and retail platforms like PayPal, further boost demand. Market sentiment also plays a significant role, with positive news driving rallies and negative events causing declines. Regulatory developments across the globe shape investor trust, influencing Bitcoin's market behavior. As Bitcoin gains traction, its price reflects a blend of supply dynamics, adoption, and macroeconomic trends, challenging the notion of it being merely speculative.
State pension plans in the U.S. are increasingly investing in cryptocurrencies, unlike private pension plans restricted by ERISA regulations. Attorney Allie Itami explains that the Employee Benefits Security Administration (EBSA) has issued guidance cautioning private plans due to crypto's volatile nature. This has limited private pension investments in digital assets.
Meanwhile, state funds like Wisconsin and Michigan have invested in Bitcoin ETFs, with Michigan expanding into Ethereum trusts. Florida's CFO, Jimmy Patronis, advocates for Bitcoin in state pensions, citing its potential as "digital gold" and a hedge against inflation.