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💸 The behavior of miners and traders points to the upcoming growth of bitcoin
In November and December, when the price of $BTC was correcting after reaching a peak at $108,364, the inflow of digital assets to cryptocurrency exchanges reached record levels. On Nov. 25 alone, 98,748 bitcoins worth $9.7 billion at the current exchange rate were sent to the balance sheet of trading platforms.
But this situation changed in January. CryptoQuant recorded a significant drop in the inflow of $BTC to crypto exchanges (screenshot 1, green bars).
At the same time, miners began to sell less cryptocurrency. This is evidenced by the decrease in the number of coins they transferred to crypto exchanges (screenshot 2, blue line).
On November 11, miners sent 26,367 bitcoin worth $2.6 billion to trading platforms, and in the three days from January 1 to January 3, 2025, they transferred only 13,370 bitcoins worth $1.3 billion.
Given these statistics, employees of the crypto exchange Bitfinex predict the bitcoin rate to rise to $110,000 in January. However, trading volume must increase for the value to rise significantly. If the number of coins bought remains at the current low level, the $BTC rate is unlikely to break the $100,000 mark.
🚀 US monetary policy will trigger BTC growth in the first quarter of 2025
This was stated by BitMEX co-founder Arthur Hayes.
💰 According to him, one of the main factors influencing the growth of the crypto market remains the inflow of dollar liquidity.
He highlighted 2 sources of this liquidity 👇
⏺ Decrease in reserve repo fund (RRP) balances. The September RRP decline has already resulted in a $2 trillion influx into the markets, which has supported the rise of equities and cryptocurrencies. The RRP could fall to near zero in Q1, adding another $237 billion in liquidity.
⏺Use of the U.S. Treasury General Account (TGA). Due to the lack of ability to increase government debt, the Treasury will spend from the TGA. This will also provide a positive boost to liquidity.
The expert predicts that by March, $180 billion of liquidity will be removed from the market. This will cause the market to peak in mid to late March.
💵 Predictions for $120,000 BTC surge with Trump's inauguration
Exchanges are seeing a surge in interest in the $120,000 BTC call option, which now stands at $1.52 billion
🌐 According to the director of Amberdata, the bullish momentum is driven by favorable sentiment around Trump's cryptocurrency stance.
Technical analysts are eyeing 2 potential scenarios for BTC:
1️⃣ BTC recently repeated the accumulative Wyckoff pattern last seen during the FOMC rate cut. Holding the $90,800 support level with possible wicks to $86,500 would confirm the uptrend.
2️⃣ The resistance level at $102,760 requires a decisive breakout with strong volume to confirm further upside. A move above this level could push BTC to $110,000 and above in the coming weeks.
Taking the first spot is OG Labs with $325M in investments. Surprisingly, Linea is not on the list, despite their plans for a launch early in the year. Looks like everyone forgot about them 😅.