Bitcoin soared past its $106K ATH late last night, tracking from a 50% price spike since the US election outcome due to Donald Trump’s crypto advocacy. Its upswing also follows anticipation of the Federal Reserve’s (Fed) upcoming interest rate changes, possibly a 25-basis-point cut during the Federal Open Market Committee (FOMC) meeting on December 18. Still, if it’s the last cut for a while (as anticipated), Bitcoin’s price might plummet while the US dollar and treasury yields rise. Luckily, the meme coin project Wall Street Pepe ($WEPE) offers trading insights that safeguard against market volatility. 97.1% Chance of Fed Slashing Interest Rates CME Group’s FedWatch Tool highlights that the Fed is 97.1% likely to drop US interest rates at the upcoming FMOC meeting. The Federal Reserve is highly anticipated to reduce rates between 4.25% and 4.50% in two days time. Lower interest rates typically lead to more market liquidity, encouraging investments in riskier assets like Bitcoin and other cryptocurrencies. Also signaling prosperous times for crypto is the rate cuts weakening the US dollar, making crypto cheaper when acquired in USD. However, the Fed is expected to implement a ‘hawkish rate cut,’ which suggests less easing next year, possibly harming Bitcoin’s future trajectory. Wall Street Pepe ($WEPE) Raises $25M+ on Presale In light of economic shifts, Wall Street Pepe equips investors with the tools to make informed decisions amidst market volatility. The Pepe-inspired meme coin offers token holders exclusive crypto trading insights. Its ultimate aim is to prevent market manipulation by bringing together crypto investors to give the whales and insiders a run for their money. Crypto traders have already noticed its potential, as evidenced by $WEPE garnering over $25M on presale. Exploiting its trading insights currently costs just $0.0003644 per $WEPE. Notably, the coin’s price increases every time it hits a milestone, pointing to now being a good time to buy. $WEPE Equips Crypto Investors for Success Although Bitcoin is still hitting ATH after ATH, investors must remain cautious and consider long-term factors instead of just short ones for financial stability and sustainability. As Americans brace for financial change, tools like $WEPE become increasingly necessary. Its trading insights give crypto investors leverage against unpredictable market movements. However, this isn’t financial advice. Always DYOR before making investments to ensure you’re aware of the potential risks involved.
Canadian music superstar Drake’s X account was hacked over the weekend, with the perpetrators using his platform to promote a fraudulent Solana-based meme coin. Meanwhile, a hardware wallet user reported the devastating loss of $2.5 million in Bitcoin and NFTs due to a phishing scam dating back several years. Drake's X Account Hacked to Promote Fraudulent Solana Meme Coin ”Anita” Canadian music icon Drake became the latest high-profile victim of a social media hack when his X account was compromised on Saturday night. The hacker used the account to promote a fraudulent Solana-based meme coin dubbed ”$ANITA,” a token reportedly inspired by Drake's cartoon ”alter ego,” Anita Max Wynn. Drake, born Aubrey Drake Graham, has long been known for his love of gambling, a theme reflected in his cartoon persona, Anita Max Wynn. The name, a playful nod to the phrase “I need a max win,” resonates with the gambling community and fits seamlessly with Drake’s partnership with Stake, a popular crypto betting platform. Exploiting this association, the hackers reposted and quoted a now-deleted X account to promote the coin as an official collaboration between Drake and Stake. The fraudulent ”$ANITA” token also capitalized on Drake’s current ”Anita Max Wynn” tour, which marks his return to Australia and New Zealand after a seven-year hiatus. By tying the token to Drake’s brand and tour, the hackers created a veneer of credibility, enticing unsuspecting fans and crypto traders to buy into the scam. The promotion to Drake’s 39 million followers resulted in a swift surge in activity around ”$ANITA.” According to DexScreener data , the meme coin saw an astonishing $5 million in trading volume before traders began to realize the project was fraudulent. The price of the token collapsed as the scam unraveled, leaving many buyers at a loss. The posts were later removed from Drake’s account, and neither Drake nor his representatives have issued a public statement about the incident at the time of writing. Drake’s hacked account is part of a troubling trend of social media exploits targeting influential figures and organizations to push fraudulent crypto schemes. Just a week earlier, the Cardano Foundation’s X account was similarly hacked and used to promote a meme coin scam. However, that scam managed to generate only a fraction of the trading volume—just 10% of the ”$ANITA” coin’s total. Other recent victims include chart-topping musicians Cardi B and Doja Cat, as well as legendary rock band Metallica. These incidents have exposed the vulnerabilities in X's security protocols and raised concerns about the platform’s ability to safeguard accounts with massive followings. The hack sheds some light on the risks of unregulated and hype-driven cryptocurrency projects, particularly meme coins , which often lack intrinsic value and are fueled by speculative trading. It also demonstrates the ease with which bad actors can exploit the trust and influence of celebrities to deceive the public. For Drake, the incident may prompt a reassessment of security measures for his social media accounts. For X, the platform faces mounting pressure to bolster its defenses and provide enhanced security tools for high-profile accounts. Crypto Community's Reaction The crypto community and Drake’s fans have expressed mixed emotions about the incident. Some traders voiced frustration over losing money to the fraudulent token, while others saw it as a cautionary tale about the risks of investing in projects promoted through unofficial or suspicious channels. As celebrity-endorsed scams become more prevalent, this latest incident with Drake’s X account reiterates the urgent need for better education around cryptocurrency scams and stronger security measures on social media platforms. While the fraudulent ”$ANITA” meme coin may have been short-lived, its impact will serve as a warning to both fans and the broader crypto community about the dangers of blindly trusting promotional posts—even from trusted public figures. Crypto Investor Loses $2.5 Million in Phishing Scam, Highlighting Ongoing Security Risks In other security news, the cryptocurrency community was dealt another stark reminder of the risks lurking in the digital asset space as a hardware wallet user, identified as “Anchor Drops” on X, reported losing $2.5 million in Bitcoin (BTC) and non-fungible tokens (NFTs) due to a phishing attack. On Dec. 13, Anchor Drops revealed on X that their Ledger Nano S hardware wallet had been compromised, resulting in the loss of 10 BTC, worth approximately $1 million at current market prices, alongside $1.5 million worth of NFTs. The incident was traced back to a phishing attack that reportedly occurred years ago but only recently came to light. Blockchain security analysts and Ledger, the wallet’s manufacturer, have since analyzed the breach and confirmed its connection to a malicious transaction from February 2022. Ledger, a leading manufacturer of hardware wallets, pointed to a phishing transaction tagged “Fake_Phishing5443” on Etherscan as the likely source of the hack. According to blockchain analyst KDean, Anchor Drops unknowingly signed a phishing transaction nearly three years ago, granting token approval to a malicious actor. The phishing transaction allowed the attacker to quietly monitor the wallet for years before eventually draining it. This ”dormant hack” strategy has become increasingly common among cybercriminals, allowing them to avoid detection until the right moment to strike. Hakan Unal, a senior scientist at blockchain security platform Cyvers, explained, “Blockchain evidence shows they signed a phishing transaction nearly three years ago, unknowingly granting approval to a malicious actor. The hacker remained dormant for years before eventually draining the wallet.” Unal emphasized that the incident had no connection to Ledger’s hardware or software, adding that users should regularly review token approvals to safeguard their assets. While the NFT theft was tied to Ethereum transactions, the method used to drain the victim’s Bitcoin holdings remains unclear. Tony Ke, lead security researcher at blockchain firm Fuzzland, noted, “For the NFT, KDean’s comment can explain everything. But I don’t understand how the BTC is stolen.” Experts suggest that if the phishing attack also compromised the user’s recovery phrase, it could have granted the attacker access to the wallet across all supported blockchains, including Bitcoin. “If the phishing attempt also captured the user’s recovery phrase, the attacker could gain access to the wallet across all supported chains,” Unal explained. Ledger echoed this assessment, indicating that user error might have played a role in the Bitcoin loss as well. The incident highlights several important lessons for crypto users: Understand Token Approvals: Phishing scams often exploit token approvals, granting malicious actors access to wallet funds. Regularly reviewing and revoking unnecessary approvals can help prevent such attacks. Secure Recovery Phrases: A compromised recovery phrase is akin to handing over the keys to a safe. Users should store their recovery phrases offline and away from potential phishing attempts. Be Cautious with On-Chain Interactions: Signing transactions without fully understanding their implications can have catastrophic consequences. As Ledger and other security experts stress, using a hardware wallet is only part of the equation; users must remain vigilant and informed about every interaction. An Ongoing Problem in Crypto Security The phishing attack on Anchor Drops adds to a growing list of high-profile crypto scams, with criminals becoming increasingly sophisticated in targeting unsuspecting users. According to blockchain security firms, phishing remains one of the most effective tools for attackers, particularly in the crypto space, where transactions are irreversible, and assets are self-custodied. As decentralized finance (DeFi) and NFTs gain mainstream traction, the stakes for protecting digital assets have never been higher. While hardware wallets like Ledger are designed to provide enhanced security, incidents like this reveal that user education and awareness are just as crucial as the technology itself. In light of the incident, Ledger has reiterated its commitment to user education and security. The company encourages users to adopt best practices, such as: Regularly reviewing token approvals and revoking unnecessary ones. Storing recovery phrases securely and offline. Verifying all on-chain interactions before signing transactions. “While using hardware wallets is crucial in terms of security enhancement, it’s equally important to understand every interaction with the wallet and make informed decisions,” said Fuzzland’s Ke. The $2.5 million loss suffered by Anchor Drops serves as a harsh reminder of the risks inherent in the cryptocurrency market. Despite the sophistication of hardware wallets like Ledger, no solution is foolproof without user vigilance. As the crypto space continues to evolve, staying informed and cautious will be key to avoiding similar tragedies. For the broader crypto community, this incident underscores the importance of cybersecurity practices and regular audits of on-chain permissions, particularly during periods of heightened market activity.
According to COINOTAG, on December 16, a pivotal proposal was introduced to the Aave community by Aave Chan, advocating for the withdrawal of Aave’s lending operations from the Polygon PoS
Bitcoin (BTC) mining economics continued to improve this month, as the hashprice, a measure of daily profitability, rose 5% from the end of November, JPMorgan (JPM) said in a research report Monday. The hashprice increased as the rally in the world's largest cryptocurrency outpaced the rise in the network hashrate, the report said. The hashrate is a proxy for competition in the industry and mining difficulty. The network hashrate has increased 6% month-to-date to an average of 773 exahashes per second (EH/s), the bank noted. "We note miners earned about $57,300 in daily block reward revenue per EH/s over the first two weeks of December," analysts Reginald Smith and Charles Pearce wrote, adding that this is the highest level in the last seven months, but is still about 40% below pre-halving levels. The combined hashrate of the fourteen U.S.-listed miners the bank tracks has increased almost 94% year-to-date to 222 EH/s and now accounts for around 29% of the global network, the bank said. The total market cap of the miners the bank tracks fell 4% or $1.5 billion, having increased more than 50% following the U.S. presidential election. The bank estimated that the U.S.-listed miners are currently trading on about two times their proportional share of the four-year block reward opportunity. Read more: Bitcoin Mining Profitability Improved in November, JPMorgan Says
SoftBank's massive AI investment could significantly boost US tech infrastructure and job creation, potentially reshaping global AI leadership. The post SoftBank CEO to unveil $100 billion investment in US AI sector during Trump meeting today appeared first on Crypto Briefing .
Bitcoin (BTC) started the new week with a new record. At this point, the BTC price rose above $ 106,000, while CoinShares published its weekly cryptocurrency report and said that a record inflow of $ 3.2 billion was experienced last week. “Cryptocurrency investment products saw inflows of $3.2 billion last week, the 10th consecutive week of such inflows. Inflows so far this year have reached a staggering $44.5 billion.” Ethereum and XRP Remain the Focus! When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin. While BTC saw an inflow of $2 billion, Ethereum (ETH) saw an inflow of $1.08 billion. When we look at other altcoins, XRP experienced an inflow of $145 million, Litecoin (LTC) $2.2 million, Polkadot (DOT) $2.2 million, Cardano (ADA) $1.9 million, and Solana (SOL) $1.7 million. “Bitcoin saw total inflows of $2 billion, bringing total inflows since the US election to $11.5 billion. Short Bitcoin products saw an inflow of $14.6 million after the recent price increases. Ethereum saw $1 billion inflows in the 7th week, bringing the total inflow to $3.7 billion in these 7 weeks. This indicates a significant improvement in sentiment. “XRP saw $145 million inflows as hopes for a US-listed ETF grew, while Polkadot and Litecoin saw inflows of $3.7 million and $2.2 million respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 3.13 billion dollars. After the US, Switzerland and Germany also saw notable inflows with $35.6 million and $32.9 million respectively. In the face of these inflows, Sweden experienced a small outflow of $19 million. *This is not investment advice. Continue Reading: Institutional Investors Increase Altcoin Purchases as Bitcoin (BTC) Sets New Records! “Ethereum, XRP and These Four Altcoins Are at the Forefront!”
As the crypto market soars in December 2024, debates intensify over whether Ripple could surpass Ethereum by 2025. Amid these discussions, ChatGPT uncovers an unexpected contender: a hidden gem called XYZ that's capturing attention for its unique potential. XYZVerse emerges as the pioneering all-sport memecoin, uniting fans from football to esports within its ecosystem and blending meme culture with sports enthusiasm in a community-driven platform. Dominate the Field with XYZ: The Next Meme Coin Champion! The game is on, and XYZ is leading the charge in the meme coin arena! This sensational all-sports meme token has hit the market with unstoppable momentum, knocking out weak competitors and scammy cryptos. As it charges ahead, XYZ is set to deliver jaw-dropping gains, leaving the likes of BOME and WIF far behind. With eyes on a staggering 9,900% growth, XYZ is ready to claim the meme coin crown in the next crypto bull marathon! 💸 Rule the game, cash in as the bets roll in 💸 XYZ is the star player in XYZVerse – the ultimate fusion of sports thrill and meme culture. This community-centered ecosystem is the perfect playground for crypto degens and sports fans alike. Think back to Polymarket's $1 billion trading volume during the US elections betting frenzy, and now, picture that on steroids with XYZVerse. With millions of sport bettors getting ready to jump in the action, opportunities for early investors in XYZ are really huge! XYZ is currently undervalued, and with major listings on the way, presale participants stand to secure life-changing gains. >>>Don’t miss your shot at being part of the XYZ winning team! XRP (XRP) XRP has experienced significant growth over the past six months, soaring by 379.42%. In the last month alone, it surged 212.42%, marking a remarkable uptrend. However, the past week saw a downturn with a 7.32% decline, indicating short-term volatility in the market. Currently trading between $2.22 and $2.95, XRP is hovering around its 10-day and 100-day simple moving averages of $2.42 and $2.40 respectively. The Relative Strength Index (RSI) stands at 51.94, suggesting that the asset is neither overbought nor oversold. The Stochastic indicator is at 37.97, reinforcing a neutral market position. Looking ahead, XRP faces its nearest resistance at $3.30. A breakthrough could propel it toward the next resistance level of $4.03. On the downside, immediate support lies at $1.83, with a secondary support at $1.09 if bearish momentum continues. Traders are watching these levels closely, as movements could signal significant shifts in market sentiment. Ethereum (ETH) Ethereum's price has shown mixed movements recently. Over the past week, ETH has decreased by 2.68%. However, in the last month, it has climbed by 27.26%. Over the past six months, the price has increased by 10.87%. This indicates substantial growth over the longer term despite short-term fluctuations. Currently, Ethereum is trading between $3643 and $4233. The 10-day simple moving average is $3873.26, and the 100-day SMA is $3883.85. The relative strength index stands at 55.00, suggesting neutral market sentiment. The stochastic oscillator is at 72.74, indicating that the asset is approaching overbought conditions. The MACD level is -1.149, which may signal a bearish trend. The nearest resistance level is at $4458. If ETH rises to this point from its current price, it would be an increase of about 13%. Breaking above this could lead to the second resistance at $5047, a rise of approximately 28%. On the downside, the nearest support is at $3279, a decrease of about 17%. The second support level is at $2689, representing a drop of around 32%. These levels are important for traders watching for potential breakouts or reversals. Conclusion Though XRP and ETH show promise, XYZVerse stands out as the pioneering sports memecoin, targeting 20,000% growth through its unique blend of memes and community-driven initiatives. You can find more information about XYZVersus (XYZ) here: Site , Telegram , X Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
After months of consolidation, XRP has signaled a bullish breakout, paving the way for significant upside potential. At press time, the cryptocurrency is trading at $2.40, marking a substantial recovery from its previous range of $0.50 to $0.60. Year-to-date, XRP has surged 326%, with technical indicators now pointing toward continued upward momentum. Technical Indicators Signal … Continue reading "XRP Primed for Major Rally as Analysts Eye $4 and $8.76 Price Targets" The post XRP Primed for Major Rally as Analysts Eye $4 and $8.76 Price Targets appeared first on Cryptoknowmics-Crypto News and Media Platform .
More on MicroStrategy MicroStrategy: Bubble Popped Once, Going To Pop Again? MicroStrategy: Risky Business Model Makes It A Top Short Idea For 2025 MicroStrategy: The Massive Bet On Bitcoin Could Pay Off Bitcoin surges above $106K as Fed decision looms
Over the years, JPMorgan (NYSE: JPM ) CEO Jamie Dimon has maintained a dismissive stance regarding Bitcoin’s ( BTC ) potential, with his concerns mostly centered on the asset’s ability to be leveraged in illicit activities. At the same time, Dimon has questioned Bitcoin’s actual value in the financial landscape. Despite his view on the maiden cryptocurrency, BTC has forged ahead, hitting new record highs. One of Dimon’s notable objections emerged on January 17, 2024, when he famously labeled Bitcoin a ‘pet rock,’ claiming that the digital currency ‘does nothing’ while vowing not to speak about it again. However, he broke this promise days later. To his credit, Dimon sees value in blockchain technology, especially for facilitating payments. “This is the last time I’ve ever talked about this [Bitcoin]. Blockchain is real. It’s a technology. We use it, it’s going to move money. There are cryptocurrencies that do something that might have value. And then there’s one that does nothing, I call it pet rock. The Bitcoin, or something like that,” said Dimon. Investing $1,000 in Bitcoin after ‘pet rock’ comments When the executive made these remarks, Bitcoin was trading at $43,132. Since then, BTC has surged 141% to trade at $104,038 as of December 16. BTC YTD price chart. Source: Finbold Therefore, an investment of $1,000 back in January would have grown to $2,410, representing a gain of $1,410, more than doubling your money. Indeed, Bitcoin has had a rollercoaster during this period, culminating in a record high of over $106,000 on December 16. This surge was buoyed by post-election optimism following Donald Trump’s victory. The price momentum has been fueled by projected friendly crypto regulations under the Trump administration, with recent gains stemming from speculation about the possible rollout of a strategic Bitcoin reserve in the United States. When Dimon made his remarks, the Securities and Exchange Commission ( SEC ) approved the first spot Bitcoin exchange-traded fund ( ETF ), contributing to Bitcoin’s first all-time high of the year, above $73,000. What next for Bitcoin As of press time, Bitcoin was trading at $104,038, having retracted from its record high of $106,000 earlier in the day. The short-term correction emerged amid skepticism regarding the impact of the upcoming Federal Reserve interest rate decision. There is anticipation that the institution will lower rates by 25 basis points, translating to a total easing of 100 basis points since September. However, markets have reacted with skepticism as concerns linger that after this rate cut, the Fed’s stance could potentially diminish hopes for further reductions and limit the bullish impact of the rate cut. Nevertheless, most market sentiment remains bullish on Bitcoin’s long-term outlook. Several entities project that the asset will likely double its valuation by 2025. As reported by Finbold, banking giant Standard Chartered projects that institutional capital inflows will push Bitcoin to $200,000 by the end of 2025, elevating its market cap to almost $4 trillion. Finally, in a December 13 note, investment management firm VanEck forecasted that the current bull market would likely extend into the first half of 2025, with Bitcoin potentially hitting $180,000. Featured image via Shutterstock The post How much you’d have if you invested $1,000 in Bitcoin when JPMorgan CEO called BTC ‘pet rock’ appeared first on Finbold .