Polygon whales have sold 80 million POL tokens worth $41.2 million over the past 48 hours.
Last night, the final FED interest rate decision for 2024 was announced and a 25 basis point cut was made in line with expectations. However, FED Secretary Jerome Powell's hawkish statements led to a decline in Bitcoin and altcoins. BTC fell below $100,000 but recovered to rise above $100,000 in the early Asian session. Apart from BTC, altcoins such as XRP, Dogecoin (DOGE) and Solana (SOL) experienced declines of up to 5.5 percent, while BNB and Ethereum (ETH) experienced relatively less declines. Are Powell's Bitcoin Statements the Reason for the Decline? These declines were triggered by Powell’s hawkish statements as well as his response to a question about whether he would join Donald Trump’s Bitcoin reserve promise. Powell said the Fed does not intend to participate in any government plans to create a strategic bitcoin reserve, and that board members do not intend to amend the Fed law. “That's the kind of thing Congress should consider, but we're not planning to amend the law,” Powell said. Following Powell's statements, Bitcoin and altcoins fell, while leveraged transactions also saw major liquidations. According to Coinglass data, $780 million was liquidated in leveraged transactions in the last 24 hours, $659 million of which was from long positions and $120 million from short positions. While 269,507 investors liquidated in the last 24 hours, the largest liquidation occurred in an ETH/USDT transaction worth $7.10 million on Binance. Commenting on the FED's interest rate cut and the decline in Bitcoin, LVRG Research analyst Nick Ruck said that Powell was behind the decline. “An interest rate cut would normally be a bullish reaction for Bitcoin and the cryptocurrency market because it was widely expected, but the market reacted strongly after Fed Chair Jerome Powell said inflation would be a continuing problem throughout the next year. Powell also said that the Fed does not intend to participate in any government plans to create a strategic Bitcoin reserve. At this point, if the US Bitcoin strategic reserve is no longer among the plans, BTC and cryptocurrencies may have reached their peak. Trump's Bitcoin promise helped fuel the rally that has reached all-time highs in recent months.” Bitcoin continues to trade at $101,395 at the time of writing. *This is not investment advice. Continue Reading: FED Chairman Jerome Powell Talked About Bitcoin (BTC), Sales Increased! Here Are the Details…
Shiba Inu not asset that whales want to hold right now, data shows
Kraken’s new Layer-2 blockchain, Ink, has launched on the mainnet earlier than expected, driven by strong community backing and developer excitement. Originally planned for 2025, Ink's debut reflects the overwhelming demand shown through millions of testnet transactions and connected wallets. Ink is built on the Optimism Superchain and focuses on decentralization and interoperability. Kraken plans to begin Stage 1 decentralization in January, introducing permissionless fault proofs to enhance the network’s security and trust. According to Ink founder Andrew Koller, “Today is just the beginning. We’re pushing the boundaries of on-chain experiences to unlock new opportunities for users and builders.” The early launch is credited to significant support from both builders and the community. Kraken’s collaboration with Optimism aims to drive Ethereum scaling, with Ink set to actively participate in Optimism’s governance and support the development of the OP Stack. Ryan Wyatt, Chief Growth Officer at Optimism Unlimited, stated, “Ink’s accelerated launch shows the dedication of its team and the enthusiasm of the developer community. Together, we aim to attract more developers and users to scale Ethereum.” Ink has already gained significant momentum, surpassing 100,000 users after its first announcement. Despite challenges faced by Optimism earlier this year, including price drops in the OP token and ecosystem pressure, Ink’s successful mainnet launch could boost Optimism’s growth and ecosystem synergy. Kraken has faced setbacks recently, including an $8 million fine in Australia and the closure of its NFT marketplace. However, the positive reception of Ink suggests a promising future. Both Kraken and Optimism are optimistic about their partnership, expecting long-term benefits for both platforms. Moving forward, Ink will play a significant role in the Optimism Superchain , dedicating revenue to collective development and strengthening the ecosystem.
The broader crypto market has continued its volatile trading today, with Bitcoin price witnessing a major setback. The flagship crypto has recently declined below the $100K level amid massive selling pressure noted in the broader financial market, let alone the digital assets space. Notably, this BTC retreat came just after the decision to cut the Fed rate and Federal Reserve Chair Jerome Powell’s speech. Bitcoin Price Dips Below $100K Sparking Market Discussions Bitcoin price has recorded a strong rally since Donald Trump won the US Election this year. This has fueled market sentiment towards a pro-crypto regulatory environment under the new President. Besides, the institutional interest in BTC also soared, as evidenced by the robust inflow into the US Spot Bitcoin ETF. However, despite that, crypto has faced a major setback this week. BTC has slipped below the $100K mark recently, indicating that the flurry of investors are on a selling spree amid macroeconomic concerns that have sparked volatility in the broader financial market. For context, the US Federal Reserve has recently announced a 25 bps rate cut at their latest gathering yesterday. This Fed rate cut comes in line with the market expectations, which has fueled investors’ optimism for a short-term. Despite that, the latest comment from Fed Chair Jerome Powell has weighed on the investors’ sentiment. In his latest comment, Powell signaled that the Fed might slow its rate cut pace ahead of next year, which has sparked discussions in the market. Meanwhile, the US Federal Reserve said that the central bank has halved the number of quarter-point cuts that they had previously expected. Precisely, the central bank is likely to trim their policy rates by only two times in 2025, down from the previous expectations of four rate cuts through the year. This has triggered selling pressure in the market, impacting Bitcoin price. Will BTC Witness Recovery Ahead? Bitcoin price today was down nearly 3% and exchanged hands at $101,738 and its trading volume rose 22% to $95 billion. The flagship crypto has touched a low of $98,792 and a high of $105,302 in the last 24 hours, reflecting the highly volatile trading scenario in the market. Besides, it has also touched its ATH of $108,268 on December 17. However, the experts have remained bullish despite this short-term pullback in the crypto’s price. A flurry of market analysts said that the crypto is poised to witness recovery ahead, citing the bullish market trends. For context, the US is reportedly considering a Bitcoin Strategic Reserve , which has bolstered market confidence towards the asset. In addition, other global leaders, including EU politicians , are also aiming for the same move ahead. Considering all these aspects, the market sentiment remained strong. Meanwhile, in a recent analysis, top market expert Ali Martinez predicted that BTC would fall to $99k. However, he also noted that once BTC soars past the $105,400 level, the bearish momentum will start to vanish. Source: Ali Martinez, X In addition, Peter Brandt has recently said that BTC is poised to hit $125K ahead, reflecting his confidence in the flagship crypto. Simultaneously, Bitwise CIO said that Bitcoin price will reach $500K once the US Bitcoin Strategic Reserve happens. Despite that, the experts have repeatedly warned of short-term pullbacks like the current scenario. For context, Arthur Hayes said that BTC would continue to face corrections, while predicting a potential crypto market crash during Trump’s inauguration on January 20. However, despite the bearish prediction, Hayes noted that the market will continue its upward run following that. The post Bitcoin Price Drops To $100K: Will BTC Hit $108K Again? appeared first on CoinGape .
Arthur Hayes, the CEO of BitMEX, has proposed that the United States devalue the price of gold and establish a Bitcoin reserve to boost its economic growth. In his latest article, Hayes suggests this bold move could help the Treasury quickly generate dollar credits, which could then be used to purchase Bitcoin ( BTC ). He believes this approach would strengthen the economy and secure the U.S.’s position as a global financial leader. Hayes argues that devaluing gold could inject significant funds into the Treasury General Account (TGA), bypassing the need for international negotiations to weaken other currencies. Currently, gold is valued at $42.22 per ounce by the Treasury. Hayes suggests that increasing its value to $10,000 or $20,000 per ounce would immediately grow the TGA balance, providing resources to stimulate the economy. According to Hayes, the first 100 days of Trump’s administration offer a limited window to enact impactful policies, including a major gold devaluation. He predicts such a move could happen early in 2025, as it would allow the U.S. to enhance its competitiveness and promote domestic production. Hayes sees this as an opportunity for Trump to achieve swift economic progress and support Republican control of Congress. Creating a Bitcoin reserve, Hayes believes, would also secure the U.S.’s financial dominance. He explains that Bitcoin, often seen as "hard money" due to its fixed supply, would further strengthen the nation’s currency if held in significant reserves. Hayes predicts that if the U.S. government used dollars from a gold devaluation to buy Bitcoin , its price would soar, prompting other nations to follow suit in a competitive race for cryptocurrency reserves. Hayes warns, however, that time is a critical factor. The new administration would need to act quickly to show results before mid-term elections in 2026. He cautions that delays or unmet expectations could lead to market disappointment and a sell-off in cryptocurrencies and other Trump-related investments. Other nations, including Russia, Japan , and Canada, have already considered or implemented similar Bitcoin reserve strategies. Hayes highlights the growing interest in cryptocurrency reserves as a global trend that the U.S. cannot afford to ignore. He also notes that Bitcoin ETFs now manage more assets than gold ETFs, reflecting shifting market priorities. While Hayes acknowledges the challenges of implementing such policies, he emphasizes that devaluing gold is the fastest and most practical way to generate funds and stimulate the economy. He concludes that going big early is essential for Trump to make a lasting impact during his term.
The cryptocurrency market is recognized for its instability, and 2024 has shown to be no different. Bitcoin (BTC) saw a sudden drop beneath the $100,000 threshold after the Federal Reserve declared a 25 basis points interest rate cut, prompting significant sell-offs. Ethereum (ETH) dropped by 6%, and XRP faced a 10% decrease, accompanied by a downward trend in the majority of altcoins. Despite this decline, crypto analyst STEPH IS CRYPTO has uncovered potential gems that may yield 100% returns or greater in 2025. Let’s explore these altcoins to watch for possible double returns in the upcoming months. 5 Altcoins to Watch for 100% in Profits by 2025 Here’s a detailed analysis of some altcoins you should keep on your radar: XRP, Minotaurus (MTAUR), Algorand (ALGO), JasmyCoin (JASMY), and Hedera (HBAR). 1. XRP: Altcoin to Watch with a Bullish Outlook Amidst Volatility Over the past day, XRP price has declined by nearly 10% to trade today at $2.32, with a strong market capitalization of $132 billion. Analysts emphasize its potential for considerable growth, bolstered by Ripple’s launch of a native stablecoin RLUSD , designed to enhance its stablecoin range. What Makes XRP Promising? Bullish compression: Analysts observe tight Bollinger Bands on XRP’s 12-hour chart, often a precursor to explosive price movements. Historical trends: Similar compression patterns led to a 490% rally in the past, suggesting the possibility of substantial gains. Strategic initiatives: Ripple’s focus on stablecoins and enterprise adoption could boost XRP’s long-term value. Source: STEPH IS CRYPTO (X) 2. Minotaurus (MTAUR): A Rising Star in Gaming Minotaurus (MTAUR) is making waves with its ongoing presale, targeting the booming casual gaming sector valued at $15 billion. Key Highlights of MTAUR: Attractive pricing: Early participants are already benefiting from a reduced token price of $0.00006001 USDT, with a future listing price of $0.00020 USDT. Ecosystem integration: MTAUR powers premium access and advanced features in the Minotaurus ecosystem. Security assurances: Audits by SolidProof and Coinsult ensure platform reliability. Given its low entry point, as an early-stage cryptocurrency , and solid market positioning, MTAUR is an altcoin to watch for exponential growth. 3. JasmyCoin (JASMY): 700% Growth in Sight? JasmyCoin has caught analysts’ attention with its well-defined Cup-and-Handle pattern, a technical signal often associated with bullish continuations. Technical Insights: Pattern formation: The cup spans nearly two years, with a breakout above $0.043 forming the handle. Retest strength: JASMY is consolidating between $0.038 and $0.043, a healthy sign for further gains. Projected targets: @CryptooELITES anticipate possible price points of $0.09, $0.18, and $0.31, indicating an expected growth of around 700% over the next four months. Source: @CryptooELITES (X) 4. Algorand (ALGO): Altcoin to Wach Paving the Way for 600% Gains in 2025 Despite dropping in price by 7.44% during the market blood bath to trade today at $0.3683, ALGO is predicted to achieve an all-time high of $2.60 by 2025, earning investors over 600% in profits. Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. #Algorand will hit a new all time high in 2025 $Algo pic.twitter.com/P2Q98wC3ug — STEPH IS CRYPTO (@Steph_iscrypto) December 18, 2024 Why ALGO Is Poised for Growth: Institutional adoption: Algorand’s ecosystem attracts enterprise-level projects and developers. Network upgrades: Regular updates improve scalability and performance. Market sentiment: The crypto market continues to be optimistic about ALGO’s prospects, highlighting its technological innovations and collaborations. 5. Hedera (HBAR): Accelerating Adoption Through Partnerships STEPH IS CRYPTO also foresees Hedera coin hitting $0.28811 in 2025, demonstrating a 100% increase from its current value of$0.2875. Key Catalysts for HBAR’s Growth: Chainlink integration: Enhanced DeFi capabilities through Chainlink’s Data Feeds and Proof of Reserve services. Tokenization push: Collaboration with RedSwan CRE to tokenize real estate assets. Developer incentives: The HBAR Foundation’s efforts to reduce oracle costs and support developers boost network adoption. Source: STEVE IS CRYPTO (X) Final Thoughts: Altcoins to Watch Look Optimistic Even with the prevailing bearish sentiment, the long-term prospects for these altcoins to watch continue to look optimistic. XRP, MTAUR, JASMY, ALGO, and HBAR are set to excel in 2025, supported by robust fundamentals, technical trends, and strategic plans. Investors looking for high-growth prospects should evaluate these projects, while being aware of the risks associated with the unstable cryptocurrency market. The post Crypto Analyst Hint at Altcoins to Watch for 100% Gains in 2025 appeared first on CoinGape .
Santa Rides Shiba could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Santa Rides Shiba (SANTSHIB), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because SANTSHIB is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Santa Rides Shiba can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Santa Rides Shiba could become the next viral memecoin. Santa Rides Shiba launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Santa Rides Shiba on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Santa Rides Shiba by entering its contract address – CxpeR8vdgeVWZFwBytS7PRrXHBwVgPJWZBJUcpK3k7vT – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SANTSHIB. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Michael Saylor offers to advise Donald Trump on cryptocurrency policies. MicroStrategy aims to enhance shareholder value through its multifaceted approach. Continue Reading: Michael Saylor Offers Strategic Insights on Cryptocurrency Policies The post Michael Saylor Offers Strategic Insights on Cryptocurrency Policies appeared first on COINTURK NEWS .
Michael Egorov, founder of Curve Finance, got liquidated again on one of his recent CRV positions. The liquidation comes just days after Egorov made a new CRV purchase to support the price of the sliding token. One of the addresses of Michael Egorov got liquidated after the crypto market had another daily drawdown. The wallet, labeled to belong to the founder of Curve (CRV), was liquidated for 918.83K CRV, valued at above $898K. The liquidation comes after the latest $1.2M buyback from Egorov on December 17. Egorov re-bought at $1.11, after a temporary drawdown for CRV. The repurchase was the first foray of Egorov back into CRV, after suffering a liquidation for $140M on June 13. Egorov warned that the recent position did not actually affect real CRV, but was a technicality to cover the losses from the UwU Lend hack in June. The transaction was used as an on-chain receipt for a loss that Egorov already suffered in the hack. He stated the liquidation was a testimony of the expected repayment from Sifu, the founder of UwU lend. Despite the warning, news of the liquidation had a contagion effect, deepening the CRV losses and leading to additional liquidations. Curve offers soft liquidations, which try to protect the collateral. There are also hard liquidations, as well as self-caused liquidations. Self-liquidation is available for those with positions already in soft liquidation and with diminishing health. The recent drawdown of CRV may have triggered some users to close their positions in the current price range. The project’s founder continues to be an active DeFi user, with swaps between CRV and stablecoins. Transactions from Egorov’s wallet also show outflows of small amounts of stablecoins into DeFi pools and protocols. CRV sinks from yearly peak despite the buyback Egorov rebuys CRV as a tool to prop up sentiment and acquire more tokens at a lower price range. CRV can then be used as collateral to borrow stablecoins for other DeFi tasks. This approach works during favorable marker conditions, but can lead to deep liquidations. Despite the liquidation, CRV still trades near its higher range for 2024. The token peaked at $1.25, later sliding to $0.94 as the entire market had a drawdown. CRV is still down from its 2021-2022 market peak during the previous bull cycle, where the underlying asset traded above $5. Liquidations affected other CRV borrowers, leading to a drawdown of the token’s price. CRV is potentially revisiting lower positions, where active traders may buy again. CRV open interest fell in the past month, from a peak above $260M down to $179M. Long positions are above 60%, still showing some confidence of a price recovery. However, a drawdown can attack and liquidate those positions. Curve Finance is also diminished compared to its influence in the previous DeFi boom. The platform’s liquidations relegated it to a less influential position, displaced by new protocols. Despite this, Curve is an essential part of current DeFi tasks, offering access to liquidity with its specific level of liquidation risk. Curve value locked recovers slightly Curve is still important for the current DeFi space, as it is one of the main markets for Ethena’s sUSDe. The decentralized protocol carries more than 95% of all sUSDe trading activity in four different asset pairs. For now, Curve is still in position 20 based on total value locked. The protocol carries around $2.37B , down from a peak of over $23B during the height of the 2021 bull market. Curve has lost the initial hype after multiple liquidations, and was deeply affected by the 2022 failure of Terra (LUNA). The protocol is now more conservative with its liquidity pools, and is trying to rebuild its reputation. The hub is still available on 19 chains, though its Ethereum version remains the most active. The protocol claims a 3.48% share of the crypto market, with more than $386M in daily volumes. Curve is now ranked in position 20 based on the available value locked. The protocol still has legacy influence, with 88,982 holders. The token is also involved in Aave’s lending pools, which hold 3.6M tokens. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.