TL:DR; Dogecoin was once the top-performing cryptocurrency after Donald Trump’s victory, going from under $0.15 to almost $0.5. Although it has lost its momentum, especially in the past week or so, history shows that its most spectacular price surge during this cycle could still be around the corner. DOGEUSD. Source: TradingView Can DOGE Pull a 2021-Like Rally? Perhaps due to its affiliation with Elon Musk and his upcoming role in Donald Trump’s administration, Dogecoin skyrocketed after the US presidential elections. Its price exploded by more than 200% from its aforementioned bottom to $0.485 on December 8. After these quite impressive gains, though, DOGE started to retrace but still maintained the $0.4 level. However, that all changed last week when the market-wide crash pushed it south hard. In just a few days, DOGE’s price tumbled by nearly 40% to $0.26. Although such a massive correction sounds painful, it is not something unheard of for the crypto market, especially in the ever-volatile meme coin sector. Similar enhanced fluctuations have transpired in the past as well, which could actually suggest a more favorable future for DOGE. Popular crypto analyst Ali Martinez compared the recent crash to similar developments that took place during the bull cycles in 2017 and 2021. In both instances, the largest meme coin surged by triple-digits, retraced by 40-60%, and then shot up by four or even five digits by the end of the respective runs. In 2017, when #Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%. Now, in 2024, $DOGE is up 440% and has retraced by 46%. If history repeats, another parabolic rally is on the way! pic.twitter.com/uhf2kMc0Id — Ali (@ali_charts) December 23, 2024 Can DOGE Soar Above $10? Skyrocketing by 5,000% or 12,000% sounds quite bullish, but let’s look at these predictions more realistically. In 2017 and 2021, DOGE’s price was a lot more modest, and posting such massive gains seemed easier, at least on paper. If the OG meme coin is to surge by similar percentages from now on, its price and market cap would have to go to the stratosphere. For example, a 5,000% increase would put its price at over $13, and the market cap would be at over $1.9 trillion – or bigger than bitcoin’s current one. If DOGE repeats the 2021 gains, then its price would go all the way up to $31-32, and its market capitalization would be north of $4.5 trillion – bigger than Apple’s. Although these numbers sound quite far-fetched and history is no indicator of future price performances, this doesn’t necessarily mean that DOGE has peaked during this cycle. Dogecoin is still far away from its all-time high registered in 2021, and many other assets have managed to break their peaks, so DOGE might still have a lot of room for growth. The post Dogecoin (DOGE) Price Can Skyrocket by 12,000% If History Repeats appeared first on CryptoPotato .
FTX, the cryptocurrency exchange that caused a major collapse for Bitcoin (BTC) and altcoins with its sudden bankruptcy, still remains on the agenda. At this point, Tesla CEO Elon Musk also joined the X speculation that FTX founder SBF could be pardoned early by President Joe Biden. Elon Musk stated in a post on his X account that Sam Bankman-Fried (SBF), the founder of the bankrupt cryptocurrency exchange FTX and one of the largest donors to US Democrats, may receive an early pardon from US President Joe Biden. Musk then said he would be shocked if Biden did not pardon SBF early, adding, “I would be shocked if that doesn't happen.” Rumors that Biden could pardon SBF have caused a surge in the FTX Token (FTT) price. Following the news, the probability that Biden will pardon SBF increased from 5% to 9% on Polymarket. As is known, SBF was sentenced to 25 years in prison for multiple crimes, including fraud. SBF recently filed a court appeal against his fraud conviction, claiming that the judge overseeing his case was unfairly biased against him. However, the appeal was rejected by US authorities. SBF had previously donated $5.2 million to Joe Biden's campaign in 2020 and more than $40 million to Democrats in the run-up to the U.S. midterm election cycle. *This is not investment advice. Continue Reading: SBF's Release Is On The Agenda! Elon Musk's Comment Raises This Altcoin!
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana and BNB race to reclaim their ATH, but new contender Lunex Network threatens to steal the spotlight with smart DeFi solutions. Table of Contents Solana price faces a decline: Can it break ATH before BNB? BNB gets bullish outlook off soaring staking TVL and whale activity Can the new crypto exchange Lunex Network steal the spotlight? Conclusion The battle for crypto dominance is heating up as Solana and BNB enter beast mode, vying to reclaim their ATH. Since the US’s political shift, Solana’s price has been on steroids at the heel of positive ecosystem development and institutional interest. BNB, too, has been exceptionally impressive. BNB clinched a new ATH, and the stakes have never been higher. Which of these DeFi giants will crush its ATH first? Or can this new crypto threaten to disrupt the leaderboard and eventually take the lead? Read on to learn more. Solana price faces a decline: Can it break ATH before BNB? Solana’s price has been impressive all year, and its PoH ecosystem has dominated headlines. But this once high-flying blockchain has hit a stumbling block after recording a 17% dip. The decline in Solana’s price came at the heels of the Federal Reserve Chair’s hawkish decision. But beneath the price slump is a vibrant story of Solana’s brilliance. This year, Solana’s dApp revenue has skyrocketed 15x from DeFi and meme growth. Even TVL reached a new high. Can it harness this momentum to reclaim its ATH before BNB? With resistance at $230 and key support at $190, the race is on. BNB gets bullish outlook off soaring staking TVL and whale activity BNB is getting a bullish outlook on its ecosystem wins, especially the recent BNSOL liquid staking and renewed institutional interest. The BNSOL staked liquidity program recently surpassed $1b in TVL and has solidified Binance’s dominance in DeFi. Like Solana’s price, BNB is in recovery, too. The Fed Reserve decision hit the token hard – a 5% decline in 7 days has pushed prices below $680, but analysts anticipate a sharp rally. The whale and institutional interest that BNB is getting fueled this audacious prediction. Notably, Osprey Funds recently launched the OBNB Chain Trust. Will BNB reclaim its dominance in the race to $1,000? All eyes are on its next move. Can the new crypto exchange Lunex Network steal the spotlight? Decades after DeFi became a reality, it is still getting a monumental upgrade from the mediocre offerings of old DeFi projects. This year, a big twist came along that is threatening BNB and Solana’s dominance: Lunex Network . The new crypto exchange has been revolutionizing DeFi by merging DEXs and CEXs. This platform is rapidly gaining traction as the solution traders have long sought. Lunex Network tackles the liquidity challenge while ensuring robust security through non-custodial wallets. Its versatility is unmatched, offering an expansive selection of over 50,000 trading pairs with seamless cross-chain functionality. Right now, Lunex Network is doing more than stealing the show. While BNB and Solana prices dwindle, Lunex Network has generated massive buzz. nearly $5.5m has been raised, and the token has grown a whopping 300%, thanks to its visionary features and the unique revenue-sharing program that offers DeFi perfection. Conclusion The race to reclaim market dominance and rise to ATH is intensifying. Solana price has shown so much potential to be the next ATH contender, but BNB is also giving the perfect show. However, the real disruptor might just be the new crypto exchange Lunex Network. Its smart solutions and seamless cross-chain trading have fueled presale gains, over 300% growth to $0.0048. To learn more about Lunex Network, visit the website and socials. Read more: Big gains ahead: Filecoin, Monero, and Lunex dominate smart investor portfolios Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Solana and BNB race to reclaim their ATH, but new contender Lunex Network threatens to steal the spotlight with smart DeFi solutions. #partnercontent
The post Phoenix Group: UAE’s Crypto Giant Plans Nasdaq Dual Listing in 2025 appeared first on Coinpedia Fintech News Phoenix Group, the first cryptocurrency company in the UAE to list on the Abu Dhabi Stock Exchange, is preparing to dual-list on Nasdaq in the coming year. The move is expected to help the company to expand its business footprint in the global market. Here is everything you should know about the development. Read on! Phoenix Group’s Journey and Achievements Originally established in Abu Dhabi in the year 2017, Phoenix Group is now the largest crypto mining operator in the Middle East and North Africa region. Notably, it, at present, manages more than 765 MW facilities in the United States, Canada and the United Arab Emirates. Importantly, it was in October 2023 that this UAE-based company was listed on the ADX. Dual Listing on Nasdaq by Phoenix Group: A Bold Move Phoenix Group is expected to dual-list on the National Association of Security Dealers Automated Quotations in 2025. Experts believe that the move would help the company expand its business footprint in the global market. Munaf Ali, the CEO of Phoenix Group, highlighted the importance of merging traditional and digital assets, indirectly projecting the company’s commitment to financial technology innovations. Phoenix Group’s Strategic Role in Crypto Mining Phoenix Group is a prominent player in the sector of mining facility operation and distribution. Apart from handling 765 MV of mining facilities across the North American region and the UAE, it is also an exclusive distributor of BTC mining devices in the Gulf Cooperation Council region, Egypt, Kenya and Turkey. UAE’s Position in the Global Crypto Landscape The UAE is known for its welcoming attitude towards the digital economy. It has launched several government-backed digital economy programs, supporting innovation in the field of financial technology. In conclusion, Phoenix Group’s dual listing on Nasdaq in 2025 will mark a significant step in expanding its global reach, solidifying the UAE’s position as a central hub for cryptocurrency innovation, and bridging traditional and digital finance.
Bitcoin’s resilience amid market fluctuations highlights a surge of interest from both institutional and retail investors, underscoring its potential for future growth. Recent data indicates a notable increase in buying
Bitcoin [BTC] continues to attract market demand despite recent pullbacks.
As 2024 nears its conclusion, Ethereum price fluctuations are being closely monitored. The trajectory of the cryptocurrency is critically influenced by key resistance and support levels, as indicated by recent analysis from crypto experts, which suggests a cautiously optimistic outlook. Related Reading: Ethereum Adoption Grows As BlackRock ETF Secures 1 Million ETH Important Price Levels To Monitor Analyzing cryptocurrencies, Justin Bennett emphasized the importance of Ethereum recovering the $3,540 level over the weekly period on December 22. This pricing range is regarded as necessary to show a potential change in the market toward optimism. Should Ethereum be unable to clear this barrier, it runs the danger of sliding below the significant support zone of $3,000, leading to a drop toward $2,600. For investors as well as speculators, a drop of this degree would be costly. As bullish as I’m turning with the overall setup going into 2025, buyers still have work to do. For example, $ETH needs to recover $3,540 on the weekly time frame to look bullish next week. Buyers have 33 hours to get it done.#Ethereum pic.twitter.com/cAChCbJxjd — Justin Bennett (@JustinBennettFX) December 21, 2024 Market Sentiment And Analyst Predictions The analysis by Titan of Crypto who utilized the Ichimoku cloud approach to predict probable recovery further strengthens the optimism surrounding Ethereum. The analyst noted that Ethereum has retested some critical levels, which gives the impression that the present correction cycle is about nearing its end. The strength of Kumo Cloud’s support line indicates that Ethereum may well form a base for higher moves if it can manage to hold on to the existing levels. Whales Ramp Up Accumulation Meanwhile, Ethereum whales have increased their holdings and amassed about 340,000 ETH, which is worth more than $1 billion, in just a few days. This rise in accumulation shows that big investors are becoming more confident of the prospects of the altcoin. Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details https://t.co/fZe8jWmQ3S — Jose JM (@CryptoJoseJM) December 22, 2024 In addition, spot Ethereum ETFs have garnered inflows of over $2 billion since their introduction in the US market, which is indicative of the growing interest in these instruments. If regulatory authorities permit staking yields within these funds, analysts anticipate that this trend could surpass Bitcoin ETFs by 2025. Ethereum Price Forecast At the time of writing, Ether was trading at $3,330, down 0.7% and 15.7% in the daily and weekly timeframes, data from Coingecko shows. Based on how the Ethereum market is doing right now, there will likely be a positive upward trend within the next week, despite Ether’s numbers flashing red in the charts. Analysts are hopeful about its chances of recovering, even though it is selling at a 21% discount to what they think it will be worth in a month. Source: CoinCheckup A potential breakout that could test critical resistance levels is being indicated by technical indicators such as the Relative Strength Index (RSI) and Moving Averages. Ethereum is anticipated to experience a robust development trajectory in the medium to long term, with a 35% price increase within the next three months and a remarkable 100% growth within a year, according to projections. Featured image from DALL-E, chart from TradingView
NFT projects encountered numerous setbacks in 2024, but many remain hopeful that the asset class will stage a comeback.
Sam Bankman-Fried (SBF), the infamous crypto billionaire turned convict, will soon be a free man if rumors of a presidential pardon hold true. It all started after Wall Street Mav tweeted , “Guess who might get an early pardon from President Biden. The #2 largest donor to the Democrats.” As if that wasn’t enough, Elon Musk (arguably the most powerful person in Trump’s incoming administration) fanned the flames, saying , “I will be shocked if this doesn’t happen.” SBF is currently rotting in Mendota Federal Prison, serving a 25-year sentence for orchestrating one of the most outrageous financial scandals in modern history. Convicted in November 2023 on charges of fraud and conspiracy, his case is already a political minefield. Throw in talk of a pardon, and now we’re playing with fireworks. From crypto king to inmate number who-knows At his peak, SBF was untouchable. He launched FTX in 2019 and built it into a $32 billion empire in like two years. Over a million users trusted their assets to this guy’s platform. Then November 2022 happened. FTX imploded faster than a meme coin on rug-pull day. Customers rushed to withdraw billions, triggering a liquidity crisis. Within days, the exchange filed for bankruptcy, and SBF was arrested in the Bahamas on a US extradition request. Fast forward to 2023, and things got even worse. Prosecutors said SBF had looted billions from FTX users to plug holes at Alameda Research, his hedge fund. The funds also covered personal luxuries, including a $30 million penthouse in the Bahamas. SBF’s defense team painted him as a naive nerd who got in over his head. The jury wasn’t buying it. By March this year, he was sentenced to 25 years in prison and slapped with an $11.02 billion forfeiture. Even with time reductions for good behavior under federal rules, SBF will be in his 40s before he breathes free air. That is unless President Joe Biden has other plans. I mean, we did just watch him pardon his son, Hunter Biden. This is not out of pocket. Why Biden might step in But SBF didn’t just run a crypto exchange, he ran political donations like a boss. In just 18 months, he shelled out over $70 million to political campaigns, making him one of America’s top donors ever. More than half of that, about $40 million, went straight to Democrats during the 2022 midterms. That’s second only to George Soros. His cash wasn’t spread around for nothing. The Protect Our Future PAC, which promotes pandemic preparedness, got $27 million. The House Majority PAC took $6 million. Even the Democratic Congressional Campaign Committee (DCCC) pocketed $250,000. High-profile pro-crypto Democrats like Kirsten Gillibrand, Cory Booker, and Maggie Hassan each received $5,800, the maximum individual contribution allowed. But he apparently didn’t forget the Republicans . He claimed to have donated similar amounts to GOP candidates, but he used dark money to avoid scrutiny. If true, those donations might match or even outpace what he gave to the Democrats. Exact figures are anyone’s guess, but we’re talking tens of millions. Is it any wonder Biden might feel the heat? Whether it’s gratitude, pressure from SBF’s political beneficiaries, a desire to take the spotlight off Trump a little bit, or something else entirely, the pardon rumors are growing louder. Jail time, appeals, and the road ahead without pardon After his sentencing, SBF was shipped off to Mendota , a federal prison in California. The facility offers medium and minimum security housing. It’s not exactly Rikers, but it’s still prison. Privacy rules keep details about his living conditions under wraps, but this much is clear: SBF isn’t having any more of his alleged penthouse sex parties anymore. His lawyers are busy filing appeals. They argue procedural mistakes during the trial violated his rights. Appeals in federal court rarely succeed—only 10% of cases even get a second look. Still, SBF is banking on his legal team to at least shave years off his sentence. Thanks to the First Step Act, a federal law dedicated to reducing sentences for nonviolent offenders, SBF could cut his time behind bars by a very long margin. If he earns maximum good-behavior credits, he might be out in as little as 12.5 years. But that’s a big “if.” Public reaction and current sentiment on SBF Not everyone’s buying into the redemption arc. Victims of FTX’s collapse, who collectively lost billions, see SBF as the face of betrayal. John Ray, the man tasked with cleaning up SBF’s mess at the exchange, has repeatedly emphasized the harm caused by SBF’s actions. Meanwhile, SBF’s defense team insists the crime was “victimless,” a claim that’s as convincing as a hot dog being called a sandwich. Meanwhile, a YouGov survey shows 37% of Americans view SBF favorably. Thirteen percent see him unfavorably. The rest? They’re either unaware or couldn’t care less. Among those familiar with his trial, 73% believe he should be behind bars. If Biden does grant a pardon, the backlash could be brutal. Critics would accuse him of cronyism, especially given SBF’s financial ties to the Democratic Party . On the other hand, the White House might see it differently. Pardons often serve political purposes. From Zero to Web3 Pro: Your 90-Day Career Launch Plan