$BTC #Toncoin Sees Significant Increase in Whale Activity, Potential Price Movement Anticipated According to U.Today, Toncoin (TON), the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON), has experienced a significant increase in whale activity. Large TON transactions exceeding $100,000 have surged by over 237% in the past 24 hours. This spike in large-scale transactions could indicate a potential significant price movement for TON, as large holders, often referred to as 'whales', adjust their positions in anticipation of market shifts. Crypto analyst Ali highlighted this development, suggesting that the surge in large transactions could indicate a strategic shift in whale investments and positions. Whales typically adjust their holdings in response to anticipated changes in price or market conditions. The recent 237.5% increase in whale activity could be a signal that these large holders are preparing for a substantial price move. However, whether this will result in a bullish or bearish trend is yet to be seen. At the time of writing, TON had risen 2.42% in the last 24 hours to $6.63 and ranks as the 10th largest cryptocurrency with a market valuation of $15.97 billion. Several factors could be contributing to the surge in whale activity for Toncoin. One key factor is the growing adoption of the TON Network, which is reflected in a new all-time high for daily active users. As the market reacts to this surge in whale activity, the implications for Toncoin's price could be significant. If the increase in whale activity is driven by positive market sentiment, TON could see a substantial price increase. Conversely, if whales are repositioning in response to perceived risks, the market could experience downward pressure. #tonecoin
President Joe Biden has vetoed H.J.Res. 109, a congressional resolution that would have overturned the Securities and Exchange Commission's current approach to banks and crypto.
Specifically, the resolution targeted the SEC’s Staff Accounting Bulletin 121, which presents guidance around how banks can handle customers’ crypto assets — in effect, they must treat those assets as liabilities. Banking groups have criticized this approach as making it prohibitively expensive for them to handle crypto, while regulators argue the protections are necessary to protect investors, particularly after the collapse of high-profile crypto companies like FTX.
“SAB 121 reflects considered technical SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets,” Biden said in a statement. “By virtue of invoking the Congressional Review Act, this Republican-led resolution would inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address future issues.”
Biden went on to say his administration “will not support measures that jeopardize the well-being of consumers and investors.”
H.J.Res. 109 was passed with mostly Republican support — but 21 Democrats supported the resolution in the House, and Majority Leader Chuck Schumer was among the Democrats who supported it in the Senate.
The president had previously indicated his intention to veto the resolution, while Representative Mike Flood (the Republican congressman who sponsored H.J.Res. 109 in the House) argued, “It is clear there is overwhelming opposition to SAB 121, and I urge President Joe Biden to reconsider his previous statement of intent to veto the resolution.”
Organizations opposing SAB 121 include the American Bankers Association and other financial industry lobbying groups, as well as the crypto industry advocacy group Stand With Crypto.
Hamster Kombat, a Tap-2-Earn management simulation game, is planning to launch its hamster ecosystem, including onchain assets, on TON.
Leveraging Telegram's viral social mechanisms combined with special reward cards and other features, the game has reached over 60M users with 24M daily active users. Also, Hamster Kombat’s YouTube channel became the fastest to reach 10M subscribers — in just 7 days. Plus, they have the largest Telegram channel with more than 21M subscribers.
Stay tuned for our upcoming Space session with them on X this Monday at 16:00 CET.
I have 12,610 Notcoins in my telegram account but my telegram account got banned and lost my all Notcoins. anyone know any legit projects like Notcoin anyone know other legit projects please comment. #notcoin
#Crypto Rollercoaster: Will Bitcoin Bounce Back or Burst?
The cryptocurrency market is currently navigating a complex landscape, marked by significant legal battles, evolving financial products, and fluctuating market dynamics. Here's a consolidated analysis of the latest trends and developments:
1. FTX Bankruptcy and Repayment Dispute: Former customers of the now-bankrupt FTX are challenging the exchange's repayment plan, which aims to compensate them based on the November 2022 value of their crypto assets. This proposal has been met with resistance, as cryptocurrencies like Bitcoin have experienced significant value increases since the collapse of FTX. The court's decision, expected on January 25, 2024, could set a significant precedent for future crypto #bankruptcy .
2. Ethereum's Steady Position: Ethereum $ETH has been showing minimal price movement, mirroring the broader trends in the crypto market. While there is anticipation for an #EthereumETF following the success of the Bitcoin ETF, any approval might take time due to the SEC's cautious approach. Ethereum generally follows Bitcoin's lead in market dynamics.
3. Bitcoin's Price Fluctuations and ETF Impact: Bitcoin has been experiencing price corrections after a recent sharp rally. The introduction of Bitcoin ETFs like BlackRock's iShares Bitcoin Trust (#IBIT ), which surpassed $1 billion in assets under management within a week, indicates strong investor demand. However, the market response has been mixed, with some ETFs experiencing large inflows and others, like Grayscale's GBTC, seeing significant outflows. $BTC
4. Tether's Strategic Moves: #Tether, a leading stablecoin issu has reportedly increased its Bitcoin holdings, further diversifying its asset base. This move aligns with Tether's strategy to allocate aportion of its profits into Bitcoin, strengthening its position in the cryptocurrency market.