As chill winds blow outside, the crypto market is heating up. With 2024 nearing a close, the cryptocurrency market is abuzz with talk of a ‘Santa Rally,’ spurred in large part by two pivotal developments. The first is Ethereum’s potential price surge to $5K on the back of a booming market. The second is the appointment of Paul Atkins as the new Chair of the US Securities and Exchange Commission (SEC), highlighting the increasingly crypto-friendly approach of the incoming Trump administration. Ethereum’s Prospective Price Surge Currently trading around $3.9K, Ethereum ($ETH) has shown robust performance, maintaining an upward trajectory above key moving averages. Analysts suggest that this momentum could propel Ethereum to the $5K mark before year’s end, a phenomenon often referred to as a Santa Rally , where markets experience a surge during the holiday season. Technical indicators support this optimistic outlook. Ethereum’s resilience above significant support levels and its sustained uptrend indicate the potential for further gains, further supported by continued strong inflows into $ETH ETFs since the beginning of the latest crypto bull run. And as decentralized applications and the increasing utility of the Ethereum network grow, they contribute even more to its bullish prospects. Paul Atkins’ Appointment as SEC Chair But one of the biggest moves came beyond the market. President-elect Donald Trump nominated Paul Atkins to succeed Gary Gensler as SEC Chair. Atkins, a former SEC commissioner known for his pro-innovation stance, is expected to usher in a more crypto-friendly regulatory environment and further bolster the Trump administration’s case for a strategic Bitcoin reserve. Atkins’ approach contrasts with the previous administration’s enforcement-centric strategy. He advocates for clear regulatory guidelines that balance investor protection with the promotion of technological innovation. This shift should reduce regulatory uncertainty, potentially encouraging greater institutional participation in the cryptocurrency market. Ethereum’s Growth Increases Altcoin Potential The convergence of Ethereum’s potential price surge and the anticipated regulatory shift under Atkins’ leadership could have profound implications for the cryptocurrency market. The altcoin market – non-Bitcoin coins and tokens – is led by $ETH. And if $ETH continues to surge, smaller projects are sure to follow. There’s evidence that this is already happening. Crypto All-Stars , an altcoin project that allows investors to stake multiple leading meme coins from different chains in one place, has raised $18M in a presale to date. With less than four days left and investors realizing how much momentum is beyond the project, $STARS is bound to surge even further. $STARS Demonstrates Power of Ethereum Ecosystem The increase in ETH’s value to $5K or beyond and the success of projects like $STARS may attract increased investment, further elevating market capitalization and liquidity. Simultaneously, a more accommodating regulatory framework could facilitate the entry of institutional investors, enhance market stability, and foster innovation within the crypto space. However, investors should remain wary; this isn’t financial advice, and they should do their own research. Regardless, $STARS and $ETH paint a promising picture for the industry’s future.
Binance, the world's largest cryptocurrency exchange, received a cease and desist letter from a memecoin creator. Accordingly, Mark Longo, the owner of Peanut the Squirrel, claimed that cryptocurrency exchange Binance used his “PNUT” trademark and character image without permission. Mark Longo said in a statement that he sent Binance a cease and desist letter through his law firm, claiming that Binance was using a number of his intellectual properties without permission, including the PNUT trademark and an image of a squirrel wearing a cowboy hat. Longo also noted that he has used the PNUT brand for education and animal welfare initiatives since 2017. Longo said the PNUT trademark and Peanut the Squirrel image are a core element of his brand, not just a simple design. Longo’s legal team has filed a cease and desist letter requesting Binance to cease use of his intellectual property. Longo's team also noted that global platforms like Binance should be careful to respect copyrights and trademarks, especially in the digital world. Binance has not yet officially responded to the allegations. If Binance does not respond or resolve the dispute, Longo stated that he may take the matter further and take legal action. Experts noted that the case could set an important precedent for intellectual property rights in the emerging memecoin market. *This is not investment advice. Continue Reading: Binance May Be Sued Over This Altcoin! They Sent A Cease and Desist Letter! Here's Why!
As Bitcoin continues its impressive surge, Dogecoin faces significant hurdles, raising concerns about its ability to rebound in this dynamic market. While Bitcoin has surpassed the pivotal $100,000 milestone, Dogecoin
Moca Network's Binance listing significantly increased token price and trading volume. Major exchanges like Upbit and Bithumb have also listed the MOCA token. Continue Reading: Moca Network Boosts Token Price and Trading Volume After Binance Listing The post Moca Network Boosts Token Price and Trading Volume After Binance Listing appeared first on COINTURK NEWS .
New York, USA, December 16th, 2024, Chainwire In a celebration of innovation, Forbes Web3 proudly showcases the community members who hold the Forbes Legacy Pass in its December 2024/January 2025 issue. The Forbes Legacy Pass is more than a membership- it’s a transformative experience bringing together a cohort of global entrepreneurs, founders, and creators. It
Bitcoin reached highs of $106,554 on Coinbase crypto exchange
Crypto investment products record another weekly streak of inflows totaling $3.23 billion, with Bitcoin, Ethereum, and XRP emerging as the biggest gainers. Leading digital asset manager CoinShares disclosed this in its latest report, providing insights into crypto-backed investment vehicles. According to the report , crypto investment products recorded an astounding $3.23 billion in inflows last week. 10th Consecutive Inflows with Bitcoin Leading the Charge This marked the 10th consecutive week of positive flows into crypto investment products. Consequently, the total year-to-date (YTD) flows soared to a jaw-dropping $44.5 billion, four times the figure recorded in previous years. In addition, the asset under management (AUM) across all crypto investment products stands at $167.41 billion. Expectedly, Bitcoin-backed investment products received the most inflows, accounting for $2 billion of the total weekly inflows. Since the U.S. election, Bitcoin has significantly boosted total inflows into crypto investment products, attracting about $11.5 billion. Per the data, Bitcoin's month-to-date (MTD) inflow stands at $4.67 billion, with YTD inflows of $38.58 billion. With the latest inflow of $2 billion in the past week, Bitcoin’s AUM soared to $135.02 billion.Ethereum Registers Seventh Consecutive Weekly Inflows Meanwhile, Ethereum saw its seventh consecutive weekly inflow last week after investment vehicles tied to ETH registered $1.09 billion in inflows. These products have attracted $3.7 billion in investments within the past seven weeks. The MTD flows into Ethereum products stand at approximately $2.25 billion, while YTD inflows have soared to $4.45 billion.XRP and Other Assets Weekly Inflows Interestingly, XRP also saw strong institutional interest over the past week, as its weekly inflows hit $145 million. CoinShares attributed this surge to growing anticipation for a U.S.-listed spot-based ETF tied to the asset.As reported earlier, several asset managers, including WisdomTree and Bitwise, have officially applied with the SEC to launch XRP ETFs in the United States. Although the SEC has not acknowledged any of the applications exclusively focused on XRP, speculation indicates that the agency will approve at least one of these filings under a new SEC leadership. Other crypto assets with positive inflows in the past week include Short Bitcoin ($14.6 million), Polkadot ($3.7 million), Litecoin ($2.2 million), Cardano ($1.9 million), Solana (SOL), BNB ($700,000), and Chainlink ($700,000). Conversely, multi-asset investment products ended the past week in outflows totaling $31 million, according to data from CoinShares. Regional Flows In terms of regional flows, the United States accounts for $3.13 billion of the total inflows recorded in the past week. Most of these investments went into U.S.-listed ETFs linked to Bitcoin. While investors poured $1.51 billion into the BlackRock iShares Bitcoin Trust (IBIT), they also invested $598 million in the Fidelity Wise Origin Bitcoin ETF (FBTC). Furthermore, BlackRock and Fidelity U.S.-listed Ethereum ETFs attracted investments worth $523 million and $258 million, respectively, in the past week. Other countries with substantial inflows over the past week include Switzerland, Germany, Brazil, Hong Kong, Canada, and Australia. They saw positive netflows worth $35.6 million, $32.9 million, $24.7 million, $9.7 million, $4.9 million, and $3.8 million, respectively.
Binance, a leading cryptocurrency exchange, has recently announced the introduction of Simon’s Cat ($CAT) and Pudgy Penguins ($PENGU)…
Chrystia Freeland said she would remain a member of Canada’s parliament but had resigned from Prime Minister Justin Trudeau’s cabinet.
XRP inflows by corporate buyers have grown significantly over past month