The cryptocurrency market is witnessing signs of recovery, with Solana ($SOL) and Ethereum ($ETH) showing promising reversal patterns. Meanwhile, Altura ($ALU) is gaining momentum, preparing for a bullish breakout that could solidify its position as a multibillion-dollar project. Let's delve into the technical details driving these developments. $ETH: Oversold and Ready for Reversal Ethereum recently hit a crucial level of $3,125 and is also firmly in the oversold region. This price point is just about in line with the 200-day Simple Moving Average (SMA), a significant support zone/price reversal zone. Some technical elements indicate Ethereum is salivating for a major recovery:- Relative Strength Index (RSI): The RSI has entered the oversold zone, suggesting that the selling pressure might have reached its maximum.- Finally, the MACD, is losing selling momentum, which seems to lead us to bullish territory.- Stochastic Oscillator: The stoch has bottomed, further providing a case for a reversal.All of these combined seem to indicate a likely breakout for Ethereum, with the 200-day SMA providing a solid recovery area to build upward momentum. A sustained move above this level would confirm the bullish trend, so traders and investors should keep an eye on it. Solana ($SOL): Support at $177 Solana has also retraced to an important level of $177, the same goes with Ethereum as it trades near its 200-day SMA. This key support level has historically been a turning point for the asset. We're finally seeing some hopeful signs of a reversal for Solana, similar to Ethereum:- Price action indicates a bounce from the 200-day SMA, highlighting it as a crucial support level.- Signs of decreased selling pressure point toward a bullish reversal in the near term.Between the broader market finding a footing and Solana’s resurgence, a sustained rally could be on the cards, and providing exposure to high-growth blockchain construction builders. 3 Cryptocurrencies that can moon in Q1 2025 Ethereum and Solana staged a rebound from being oversold, while Altura ($ALU) has been coasting along in a relatively straight line. It has seen no significant downside movements yet, maintaining its bullish pattern in a falling wedge pattern. This technical pattern suggests Altura's short-term target above $0.20 and much higher returns over the long term. The reason Altura is surviving is that it has a clear value proposition. This is the platform for both NFT-based gaming and metaverse integration. Here are some elements of bullish sentiment on the part of Altura: • A Bullish Basis: Altura is in the league of multibillion-dollar businesses in the making, thanks firstly to solid fundamentals. Utilization of their combination of NFTs and games has driven them to the top of this list.• The Falling Wedge Pattern Sets Up a Price Break: The falling wedge accompanied by the narrower volume of sustained buys suggests that the bull may soon be out of the pen.• Market Dynamics: With conditions in the overall market continuing to improve, newcomer Altura is well placed to benefit from increased attention, attracted by the fresh and young blockchain-related projects. Final Thoughts: Solana, Ethereum and Altura ($ALU) Both Ethereum and Solana have points of resilience that signal the potential for strong recovery according to key technical indicators and support levels. Their recovery from oversold moments points to the strength of their ecosystems and market appetite. But arguably the best performer recently is Altura ($ALU), which has shown immense upside with limited downside potential.While Altura, under the ambit of a $0.20 short-term target, is well on its way on what would eventually become a multibillion-dollar project, the three assets to watch are also worth a closer look for investors eyeing a high-growth opportunity in the crypto market, especially in terms of Altura's continued development and impact on the crypto world.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Michael Saylor revealed for the first time an unprecedented mechanism for illustrating precisely how the United States government could create $81 trillion by creating a Strategic Bitcoin Reserve. The proponent’s plan underlines a strategic digital asset policy aimed at strengthening the US dollar to neutralize national debt, place America as a leader of the 21st-century digital economy, empower a majority of businesses, drive unparalleled economic growth, and, therefore, create immense value. Michael Saylor: $81 Trillion Possible with US Strategic Bitcoin Reserve Michael Saylor has unveiled a groundbreaking strategy demonstrating how the United States government could generate $81 trillion by establishing a Strategic Bitcoin Reserve. A key component of Saylor’s approach is the taxonomy in defining the classes of digital assets. This classification should provide much-needed clarity on what differentiates each class of asset from others. A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy—empowering millions of businesses, driving growth, and creating trillions in value. https://t.co/7n7jQqPkf1 — Michael Saylor (@saylor) December 20, 2024 Digital commodities like Bitcoin, not issued by any person or organization and backed by digital power, differ from digital securities backed by equity, debt, or derivatives. The framework includes digital currencies backed by fiat, utility digital tokens, non-fungible tokens representing unique assets, and asset-backed tokens tied to physical resources like gold or oil. These definitions will be fundamental in fostering innovation and moving the policy discussion forward. Saylor stresses the need to actually create a framework of legitimacy , so much pushed forward by Senator Cynthia Lummis. The framework should, according to Michael Saylor, delineate the rights and responsibilities of all participants within the digital asset ecosystem. Issuers shall have the responsibility to create assets while ensuring fair disclosure and maintaining ethical conduct. Exchanges shall have the right to custody, trade, and transfer assets in a manner that ensures transparency, protection of client interest, and avoidance of conflict of interest. Owners shall have the right to self-custody and to trade their assets but shall remain subject to local laws. This principle bases itself on the fact that no one should have the right to lie, steal, or cheat, and all players should be held responsible for their actions. Streamlining Crypto Regulations to Unleash a Capital Markets Renaissance The structure should implement effective, reasonable compliance measures that facilitate innovation rather than obstruct it, while ensuring standardized disclosures for each asset class to promote transparency and build confidence. By allowing industry-led compliance, exchanges could take the lead in collecting and publishing data, significantly reducing issuance and maintenance costs. Michael Saylor argues that regulators should be taken out of the critical path to digital asset issuance to let exchanges facilitate smooth processes and reduce friction both for issuers and investors. These steps could dramatically improve the cost, speed, quality, and accessibility of digital assets. Michael Saylor envisions a 21st-century capital markets renaissance driven by digital assets. This would let the issuance of digital assets go really fast and, instead of taking months, it would be able to be created in days. The issuance-related costs could fall from tens of millions of dollars to as low as $10,000, thus opening up the capital markets to millions of businesses, artists, and entrepreneurs. Investors would have unprecedented access to tokenized commodities, real estate, and intellectual property, among other things, fostering broader participation in the digital economy. Digital Assets as America’s Trillion-Dollar Opportunity A strategic digital asset policy would position the US dollar as the global reserve digital currency. Digital currency markets would expand from $25 billion to $10 trillion, creating enormous demand for US Treasuries. Some even think that, in case of Strategic Bitcoin Reserve establishment, the currency would easily reach $500K . Global digital capital markets could grow from $2 trillion to $280 trillion. All of this would happen with the US investor base capturing a large share. Michael Saylor believes leadership in digital assets, including Bitcoin, could push the market value to $590 trillion, cementing US dominance. A Strategic Bitcoin Reserve could generate $16 trillion to $81 trillion for the US Treasury, helping offset national debt. This policy could unlock trillions for American companies and strengthen the US dollar as a cornerstone of the global digital financial system. Michael Saylor’s vision aims to capitalize on the digital asset revolution. The post Michael Saylor: US Can Make $81 Trillion with Strategic Bitcoin Reserve appeared first on CoinGape .
Tether plans to launch an AI platform early next year. The company aims to expand its business into new sectors. Continue Reading: Tether Develops AI Platform to Expand Crypto Business The post Tether Develops AI Platform to Expand Crypto Business appeared first on COINTURK NEWS .
Bitcoin (BTC) continues to intrigue investors, with many speculating about its price trajectory as it navigates a turbulent market. Recent data indicates that the leading cryptocurrency remains in an accumulation
The crypto market is witnessing significant shifts as new coins like Unicorn Fart Dust (UFD), Based Turbo (TURBO), and Magaverse (MVRS) capture attention, despite recent volatility. With thousands of holders
The recent incarceration of Luigi Mangione, the suspect in the murder of UnitedHealth Group CEO Brian Thompson, highlights the intertwining of crime and the high-profile world of finance. Arriving at
The suspect in the murder of UnitedHealth Group CEO Brian Thompson, Luigi Mangione, is sharing a facility with fellow high-profile inmates.
George Town, Grand Cayman, December 20th, 2024, Chainwire Gud Tech , Zircuit’s first multichain AI platform for automated finance, is thrilled to announce the success of its $GUD token launch. Built on Zircuit, the AI-powered blockchain for secure DeFi and staking, $GUD is reshaping token distribution with a community-first approach, prioritizing inclusivity and decentralization. In its first week, the $GUD launch has seen over 127M $ZRC tokens staked, locking a total of $9M USD in value. These early results underscore the community’s enthusiasm for a more equitable token economics model and decentralization. The Future of AI on Zircuit is Community-Owned Community-Centric Distribution $GUD tokens are earned by staking $ZRC, Zircuit’s native token, allowing participants to actively engage with the ecosystem. The first distribution phase allocated 2% of the total token supply to participants within the first week, with weekly rewards continuing throughout the fair launch period. A Fair Launch for All Unlike traditional launches, 40% of the $GUD supply was made available on Day 1 through decentralized exchanges on Base and Zircuit. This approach fosters a more equitable distribution, aligning with Gud Tech’’s vision of becoming a truly community-owned AI platform. No Presales or VC Involvement Gud Tech has consciously excluded presale or venture capital funding, ensuring the $GUD token remains in the hands of its users, not institutional investors. This model empowers the community and strengthens decentralization. Users can stake $ZRC tokens to earn weekly $GUD rewards and actively engage in the Gud Tech ecosystem. For more information, users can visit gud.tech . About Gud Tech Gud Tech is the AI platform for automated finance on Zircuit, the world's most secure AI-powered blockchain. At launch, Gud Tech delivers actionable market intelligence. Over time, Gud Tech aims to be the leading platform for AI-powered decentralized finance with new features such as a risk engine and algorithmic strategies. Powered by $GUD, Gud Tech is built on Zircuit, the AI-powered blockchain. To learn more about Gud Tech, users can visit gud.tech , and follow Gud Tech on Twitter/X @gudtech_ai ContactCommunications LeadJennifer ZhengGud Techjen@gud.tech 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.
Shiba Inu (SHIB) could be on the cusp of a major lift-off following a groundbreaking partnership with Chainlink (LINK), a leader in blockchain interoperability. Announced on Thursday, this collaboration marks a pivotal moment for the Shiba Inu ecosystem, with its Shibarium network now integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Notably, this integration establishes CCIP as the “canonical cross-chain infrastructure” for the Shiba Inu ecosystem, allowing SHIB, BONE, and LEASH tokens to operate seamlessly across 12 different blockchains. Per the announcement, the partnership also promises to open new opportunities for DeFi applications and enhance cross-chain functionality, expanding Shiba Inu’s presence in the broader blockchain ecosystem. For context, the CCIP integration employs a lock-and-mint mechanism for token transfers between Ethereum and other blockchains, while a burn-and-mint mechanism will facilitate transfers across an even wider range of networks. By leveraging Chainlink’s decentralized oracle networks (DONs), Shiba Inu can tap into robust security, which is crucial for safeguarding transactions within its ecosystem. Following the partnership, Shibarium , designed to enhance transaction scalability, speed, and cost-efficiency, is set to benefit even further. Notably, with the integration of Chainlink, Shibarium will unlock new functionalities, including secure cross-chain token transfers and access to real-time, high-frequency market data, which are critical components for driving DeFi markets forward. That said, Johann Eid, Chainlink’s Chief Business Officer, expressed enthusiasm about the collaboration, stating, “ We’re excited to partner with Shiba Inu and help grow its ecosystem. The integration of Chainlink CCIP will enhance its capabilities and drive widespread adoption.” Shiba Inu’s Tech Wizard, Kaal, also praised the development, calling it a “bold new course” to set the stage for broader adoption and multi-chain applications. Elsewhere, in a tweet , the network’s lead developer, Shytoshi Kusama, called the partnership “HUGE news” for SHIB, BONE, and LEASH holders. Lucie, the project’s marketing lead, further highlighted how this partnership would enable Shibarium to connect with major blockchains like Ethereum, BNB Chain, and Avalanche, significantly boosting the exposure and utility of Shiba Inu assets. Meanwhile, the “SHIB army” has expressed excitement and optimism over the partnership, viewing it as a boon for SHIB’s price following a year of largely stagnant performance. Notably, SHIB has faced a steep decline this week, mirroring the broader crypto market downturn. Despite the recent decline, SHIB’s price has reached a critical multi-year support zone near $0.000020. Analysts like “Crypo Latit” anticipate this level will serve as a strong support area, attracting significant buy orders and potentially triggering a robust rebound. At press time, SHIB was trading at $0.00002166, reflecting a sharp 1.7% decline in the past 24 hours. However, trading volume surged by 46.31% during this period to $2.09 billion, indicating heightened interest in SHIB following the partnership announcement.
The Securities and Exchange Commission (SEC) approved two exchange-traded funds (ETFs) tracking indexes that include ETH and BTC, offering exposure to both cryptocurrencies in a single place. The applications by the Hashdex Nasdaq Crypto Index US ETF and Franklin Templeton’s Franklin Crypto Index ETF are the first crypto index funds of this kind approved by the agency. Both funds indicated in the applications that they would like to add other cryptocurrencies to their indexes, with Hashdex specifying Avalanche’s AVAX, Chainlink’s LINK and Litecoin’s LTC. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io