Solana-based memecoin Fartcoin briefly exceeded a $1 billion market cap amid a downturn in the altcoin market.
The post Jerome Powell Dismisses FED’s Bitcoin Ownership appeared first on Coinpedia Fintech News Federal Reserve Chair Jerome Powell confirmed the Fed’s inability and lack of intent to hold Bitcoin, emphasizing any legal changes would rest with Congress. His remarks follow discussions of a U.S. Strategic Bitcoin Reserve proposed by President-elect Donald Trump, potentially funded by seized Bitcoin and Treasury assets. Bitcoin, which has surged past $100,000 on optimism over Trump’s pro-crypto stance, dipped after Powell’s comments. Meanwhile, skepticism persists among Fed officials about Bitcoin’s volatility and utility. Trump plans to appoint crypto advocates to key positions, fueling speculation about the future of U.S. cryptocurrency policies.
The post Crypto Market Liquidation Hits $700M Amid Fed Inflation Warning appeared first on Coinpedia Fintech News The crypto market saw a sharp decline, losing nearly $700 million, with over $660 million liquidated in the past 24 hours. Meanwhile, the US stock market faced a steep fall, shedding $1.5 trillion, as the S&P 500 dropped 2.95%. Federal Reserve Chair Jerome Powell, during the FOMC meeting, reiterated that the Fed cannot own Bitcoin and projected it might take 1-2 years for inflation to hit the 2% target. These developments have triggered widespread sell-offs, leaving investors wondering if this downturn presents a buying opportunity amidst the market chaos.
The post Trump’s World Liberty Makes $250K ENA Investment appeared first on Coinpedia Fintech News World Liberty, the Trump family’s crypto project, made another move by spending 250,000 USDC to purchase 231,726 ENA through Cow Protocol early on December 19. This brings their total ENA holdings to 741,687. The project, monitored by Arkham, has been actively growing its crypto portfolio. Earlier, World Liberty Financial partnered with Ethena Labs to integrate sUSDe as a core collateral asset in its upcoming Aave instance. This partnership signals a strategic push to enhance the project’s financial ecosystem, positioning it for broader use in decentralized finance (DeFi).
The post MicroStrategy Shifts Bitcoin Funding to Fixed-Income Securities appeared first on Coinpedia Fintech News MicroStrategy co-founder Michael Saylor revealed plans to shift the company’s Bitcoin funding strategy toward fixed-income securities after its current fundraising program concludes. Speaking to Bloomberg, Saylor emphasized the importance of “intelligent leverage” for future cryptocurrency purchases. Until now, the firm has used a mix of new equity and convertible bond sales to fund its Bitcoin acquisitions, benefiting bondholders as MicroStrategy’s stock surged. This pivot signals a more structured approach to capital raising as the company continues its aggressive Bitcoin accumulation strategy, leveraging regulated exchanges like Coinbase for purchases.
The post Metaplanet’s ¥270M Profit Fueled by Bitcoin Strategies appeared first on Coinpedia Fintech News Tokyo-based investment firm Metaplanet is set to report its first operating profit in seven years, projecting ¥270 million ($1.8 million) for 2024, a sharp turnaround from last year’s ¥468 million ($3.1 million) loss. Sales are expected to surge to ¥890 million ($5.8 million). The firm credits its success to Bitcoin-focused strategies, including put options trading and treasury management, which boosted its Bitcoin holdings to 1,142 BTC, worth $119.4 million. Metaplanet is also launching Bitcoin Magazine Japan in 2025, further cementing its position in the growing Bitcoin ecosystem.
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.
Bitcoin fell below $100,000 for the first time in weeks after Federal Reserve Chair Jerome Powell dismissed the idea of a national bitcoin reserve. The cryptocurrency market, which saw Bitcoin
The Ethereum market has recently seen a notable shift, with significant outflows from centralized exchanges sparking discussions about the near term trajectory of the cryptocurrency. Amid this, Ethereum has recorded a 2.4% decrease in the past 24 hours with a current trading price of $3,858, marking a 21.1% decrease away from its all-time high of $4,878 seen in 2021. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? Ethereum Withdrawals from Binance Surpass 7.8 Million ETH Data from CryptoQuant reveals that approximately 20.8 million ETH have been withdrawn from centralized exchanges in the past two months, a trend reminiscent of the 2021 bull market. Binance has played a central role in this movement, accounting for over 7.8 million ETH, which represents 33-39% of the total outflows. These outflows could be indicative of investors accumulating ETH for long-term holding or staking purposes, as suggested by CryptoQuant analyst Crazzyblockk. The analyst added: These significant outflows from Binance indicate the platform’s continued influence on the cryptocurrency market, especially in balancing supply and demand for Ethereum. Notably, Binance’s influence is particularly evident given its global user base of 250 million and a record $21.6 billion in deposits this year, according to Crazzyblockk. The substantial outflows from Binance align with bullish market sentiment, as large-scale withdrawals often signal investor confidence. These movements suggest that Ethereum holders are moving their assets off exchanges. This reduction in the available supply of ETH on exchanges can create upward pressure on prices, should demand remains consistent or grows. Etheruem Market Performance And Outlook Ethereum has so far been struggling to make significant price move to the upside ever since the latest crypto market bull run began months ago. Despite Bitcoin seeing consistent gains recording new all-time highs nearly every month, Ethereum has lacked enough upward momentum to push its price past the $4,000 barrier. It is worth noting that this sluggish performance from Ethereum comes amid the positive developments ongoing in the crypto space including the recent news of Deutsche Bank, Germany’s largest lender reportedly working on its own layer-2 (L2) blockchain on Ethereum using ZKsync technology. JUST IN: Deutsche Bank building its own Layer-2 on Ethereum – Bloomberg pic.twitter.com/5O5K3R1fRg — Radar🚨 (@RadarHits) December 18, 2024 Regardless of such news, ETH has seen a slight increase of 2.3% in the past week, , a lower performance compared to that of Bitcoin’s 5% increase over the same period. Related Reading: Ethereum Spot ETFs Witness Unbroken 16-Day Inflow Streak: New ETH ATH Soon? According to analysts, Ethereum could still likely see further correction in its price as bearish signals recently formed on its chart suggesting a potential drop to 3,400. $ETH has formed a bearish double top, with RSI showing bearish divergence and a MACD crossover confirming the trend. A short-term correction could bring it to $3,400, with major support at $3,200 and $3,000. #Ethereum #CryptoTrading #eth pic.twitter.com/iWaPh1vwrr — crypto vulture Trader 🦅 (@crypto_vulture1) December 18, 2024 Featured image created with DALL-E, Chart from TradingView
A top Russian official has declared plans for a BRICS payment system “not hypothetical,” signaling a shift toward reducing reliance on the dollar through alternative financial mechanisms. A New Era? Russia Claims Feasibility of BRICS Payment Network Russian Deputy Foreign Minister Sergey Ryabkov has affirmed that plans to establish a BRICS payment system are tangible