On January 19th, COINOTAG reported significant movements in the cryptocurrency market as a prominent whale recently transferred 63.9 million USDC to the Solana network following the launch of the TRUMP
Raydium DEX continues to dominate the Solana ecosystem, showcasing impressive growth and heightened market activity surrounding the RAY token. As trading volumes surge, Raydium has reinforced its position as the
TL:DR; Within just over a day after its launch, the Trump-backed and endorsed meme coin has already created numerous success stories of investors getting in at the right time and (some) getting out. Nevertheless, meme coins remain highly volatile and risky assets, and investors should be wary before allocating funds to them. The president-elect shook the entire crypto market on Friday night when he announced the launch of the OFFICIAL TRUMP (TRUMP) meme coin and invited his millions of followers and supporters to join his community. Despite the controversial launch and fears about a potential hack or a scam, the token became an overnight sensation. Its price is now worth $40, while its market capitalization has soared past $8 billion, making it the third-largest meme coin, sitting behind only DOGE and SHIB. With this remarkable rise in value within mere hours, the number of success stories for traders who got in early (possibly insiders) and have already sold some portions to capture massive profits has gone through the roof. Turned $1.1M into $70M in just 4 hours—incredible! This trader has sold 1.35M $TRUMP for $3.65M, and still holds 4.62M $TRUMP ($67.5M), bringing his total profit to over $70M! https://t.co/m1k6zmKgLA pic.twitter.com/U3IeU23PER — Lookonchain (@lookonchain) January 18, 2025 After the initial buying spree, more information emerged later from Lookonchain about deposits to large exchanges, such as OKX, where the same traders most likely capitalized on the price rally by selling off their tokens. Whale “Fpj236…uVJr” deposited all 1.27M $TRUMP ($43.9M) into #OKX an hour ago, with a profit of $29.6M! https://t.co/RN5fXx11CW pic.twitter.com/4HyHZSHgou — Lookonchain (@lookonchain) January 19, 2025 One of the more famous traders, which Lookonchain called ‘legendary,’ made $6.8 million on the TRUMP token within a day after securing a $12.5 million profit from BOME last year. OFFICIAL TRUMP’s launch was a highly successful and impressive story. However, not all meme coins have the same spectacular path. There are thousands of such tokens released on a daily basis, and most turn into quick rug pulls, leaving investors with empty hands. As such, traders should be wary when dealing with meme coins, even if they are launched by the upcoming US president. The post Overnight Millionaires: OFFICIAL TRUMP Success Stories 24 Hours After Launch appeared first on CryptoPotato .
RAY has enjoyed the spoils of Raydium DEX's impressive lead in Solana.
Disclaimer: This article is a press release. COINTURK NEWS is not responsible for any damage or loss related to any product or service mentioned in this article. Continue Reading: You Could Be Sleeping On These Coins By Focusing Too Much On Ripple (XRP) The post You Could Be Sleeping On These Coins By Focusing Too Much On Ripple (XRP) appeared first on COINTURK NEWS .
The Dogecoin price looks set to witness a significant explosion to the upside based on a recent analysis by crypto analyst Trader Tardigrade . The analyst revealed a bullish pattern that could send Dogecoin to as high as $5. Dogecoin Price Set To Explode To As High As $5 In an X post , Trader Tardigrade predicted that the Dogecoin price could explode to as high as $5. This came as he noted that Dogecoin is set to finish the final stage of its bull run . The crypto analyst added that the Chande Momentum Oscillator (ChandeMO) indicates that DOGE still has a long way to go before reaching the top in this cycle. The crypto analyst’s accompanying chart showed that the Dogecoin price could rally to as high as $5 based on this ChandeMO indicator. There was also the possibility of the foremost meme coin even rallying further to $9 in this market cycle. Trader Tardigrade has continued to provide a bullish outlook for the meme coin in his analyses, suggesting that DOGE could indeed witness a parabolic rally. Before now, the crypto analyst mentioned that the Dogecoin price is aligning with the 50 Arnaud Legoux Moving Average (ALMA). He further remarked that this pattern is perfectly synchronized with the last cycle from 2018 to 2020. Based on this development, he added that DOGE is in the midst of a surge. The crypto analyst had also previously predicted that the Dogecoin price could reach double digits in this market cycle. According to him, if the meme coin mirrors the 2021 bull cycle , it could rally to as high as $30. Meanwhile, he predicted that DOGE could rally to $8.7 if it mirrors the 2017 bull run. DOGE Closes Above The Macro .786 Fib In an X post, crypto analyst Kevin Capital revealed that the Dogecoin price has officially closed a daily candle above the macro .786 Fibonacci level. In line with this, the crypto analyst remarked that the goal now is to see a follow-through to the upside. He added that is this happens, then the previous highs at the macro golden pocket around $0.48 is next. The crypto analyst previously revealed that the Dogecoin price closed a daily candle outside of a falling wedge pattern and mentioned that $0.41 was the next important price level. With Dogecoin reaching this level, the $0.48 target is the next level to keep an eye on, as the crypto analyst suggested. In an X post, crypto analyst Titan of Crypto stated that the Dogecoin price is aiming for $0.66. He remarked that DOGE would take off after breaking out of the symmetrical triangle. The crypto analyst added that bullish momentum is building. At the time of writing, the Dogecoin price is trading at around $0.4, down almost 4% in the last 24 hours, according to data from CoinMarketCap.
In January 2025, the U.S. federal court ruled that 94,643 of 119,754 BTC stolen in the 2016 Bitfinex exchange hack must be returned to the exchange, which is recognized as the sole victim of the crime. In 2022, the Department of Justice managed to take control of 94,643 of 119,754 bitcoins associated with the hack, paving the way for restitution. The DOJ is working on getting the rest of the stolen coins, which were subjected to money laundering attempts. Before the hack, the stolen amount of bitcoins was worth around $72 million. Following the price drop, these coins’ value was estimated at $58 million. As of Jan. 19, 2025, the value of 94.6k BTC is estimated at $9 billion. The number of stolen assets was more than half of the bitcoins controlled by Bitfinex at the time. Table of Contents The details of the ruling The people behind the hack and money laundering Is the ruling controversial? The details of the ruling The ruling may be found controversial as every single Bitfinex client holding money on the exchange in 2016 was affected regardless of whether criminals emptied their wallets because the unaffected addresses were partly emptied by the exchange (“a sole victim”) itself. Read more: Bitfinex could be ‘sole victim’ of 2016 hack, US government says The platform cut every deposit by 36.06% and compensated it with some amounts of BFX tokens or Right to Recovery Tokens issued by the parent company iFinex. These tokens could be redeemed for cash or converted into iFinex equity. The ethical questions behind cutting the clients’ deposits by a third aside, the compensation was hardly just even in 2016, considering that the hack caused a substantial BTC price drop. Nevertheless, the latest ruling leaves a window of opportunity for the affected Bitfinex clients, as they can claim the portions of the restitution individually until January 28. According to the judge, neither the exchange nor its users fit the victim criteria; however, thanks to plea agreements, voluntary restitution became possible. The people behind the hack and money laundering People behind the plea are Ilya Lichtenstein and his wife Heather Morgan, a man who made a bigger-than-life crypto hack, and his wife with whom they tried to launder the money. The press dubbed them “Bitcoin Bonnie and Clyde.” In contrast to the real-life Bonnie and Clyde, Lichtenstein and Morgan turned out to be far more interesting and entertaining than the legendary crime couple of the 1930s, immortalized in pop culture. While Lichtenstein was a low-key IT entrepreneur and didn’t catch the public eye, Morgan was writing for Inc. and Forbes, but most famously following the arrest, she became a “weirder-than-Bjork” rapper under the Razzlekhan moniker. She dropped her latest video on January 10, 2025, and it really adds a nice portion of surrealism to an entire situation. However, we cannot underestimate Lichtenstein’s enigma as well as the smart methods of hacking Bitfinex and ways to launder the money stolen from the exchange. Lichtenstein and Morgan’s actions became the subject of a Netflix documentary series, which is currently in the works. Lichtenstein and Morgan admitted their involvement in money laundering, while Lichtenstein alone pleaded to hacking Bitfinex. He got a 5-year sentence, while his wife is facing 3 years in jail. On Dec. 19, 2024, the prison video of Lichtenstein apologizing for the hack and regretting his past deeds was posted on his X account. In the video, Ilya took 100% responsibility for the heist and said his wife didn’t know about the hack. He said he was willing to return all the stolen money. I have something to say #FreeRazzlekhan pic.twitter.com/9HIvOxcbgr — Ilya Lichtenstein (@unrealdutch) December 19, 2024 Lichtenstein and Morgan admitted their involvement in money laundering while Lichtenstein alone pleaded to hacking Bitfinex. He got a 5-year sentence while his wife is facing 3 years in jail. On Dec. 19, 2024, the prison video of Lichtenstein apologizing for the hack and regretting his past deeds was posted on his X account. In the video, Ilya took 100% responsibility for the heist and said his wife didn’t know about the hack. He said he was willing to return all the stolen money. Is the ruling controversial? There are several ways to look at the situation and decide whether the ruling was a victory or a failure for the crypto community. Those who believe that the U.S. should not sell any bitcoins cannot applaud this ruling as, according to it, the money held by the DOJ will be sent to a company headquartered in Taiwan and the British Virgin Islands. However, if the government chooses to accumulate one million bitcoins, 94,643 bitcoins will not be critical damage on the way to this goal. Not good news anyway. Should be returned in kind to the users as well since they all took a haircut due to this hack. — Mike (@immortalbitcoin) January 15, 2025 Those who believe that the stolen funds should be returned to the affected clients barely see the ruling as justified. The time frame set to claim a partition of the restitution (until January 28) seems to be tough. All in all, it’s good to have an opportunity. And, finally, those who prefer Bitfinex having these coins over the DOJ can celebrate as the coins will be released from the government back to Bitfinex and the affected party will get most of what they had on their balance. The money is likely to hit the market again. Hopefully, it will improve the opportunities for exchange in the recovery of clients’ funds. You might also like: Bitfinex should receive 95k BTC seized in 2016 hack, says USG And, finally, those who prefer Bitfinex having these coins over the DOJ can celebrate as the coins will be released from the government back to Bitfinex and the affected party will get most of what they had on their balance. The money is likely to hit the market again. Hopefully, it will improve the opportunities of the exchange in the recovery of its client’s funds.
Summary Despite a volatile journey, DeFi Technologies Inc. remains a speculative buy due to its growing assets under management (AUM). Moreover, the Company has significantly improved its financial performance, turning large losses into net income over the past three years. Year-end results will be reported in April 2025; I anticipate that those results, which will reflect the Trump crypto rally, should serve as a catalyst to propel the stock higher. Introduction When I last covered Defi Technologies Inc. ( OTCQB:DEFTF ) (the " Company ") for Seeking Alpha on December 7, 2021, the crypto market, including the Company, was in a bubbly bull market. The Company's stock price was $2.87 then compared to $3.08 today (1/16/25). While on the surface it might look like the stock price has been largely range bound over the period, the reality is that the ride from then to now has been an epic roller coaster as shown in the chart below. Seeking Alpha Indeed, the Company would go on to lose more than 95% of its value at its nadir during the course of the crypto bear market of 2022-2023. It is more than three years later, and for the reasons described herein, I still believe the Company remains a BUY and I include the Company in the speculative bucket of my Model Asset Allocation . A Growing Business Business Segments Per it most recent Management Discussion & Analysis (" MD&A "), the Company generates revenue via a half dozen business segments: 1. Valour Asset Management (" Valour "). Valour is the Company's key business segment, offering Exchange Traded Products (“ ETPs ”) that "synthetically track the value of a single DeFi protocol or a basket of protocols." See MD&A linked above. Valour's products are mainly offered in Europe. As of September 30, 2024, such products offer exposure to the following, among other protocols: Bitcoin ( BTC-USD ); Ethereum ( ETH-USD ); Solana ( SOL-USD ); Polkadot ( DOT-USD ); Cardano ( ADA-USD ); Uniswap ( UNI-USD ); Cosmos ( ATOM-USD ); Avalanche ( AVAX-USD ); Chainlink ( LINK-USD ) and Enjin Coin ( ENJ-USD ). See MD&A above for further details (Note 12, page 23). 2. The Company's DeFi Alpha segment operates an arbitrage trading desk (the " Trading Desk "). The Trading Desk seeks to "identify low-risk arbitrage opportunities within the crypto ecosystem." Per the Company's website : With a primary focus on both centralized and decentralized markets, the trading desk ensures minimal exposure to market and protocol risks, effectively mitigating revenue volatility. Since its inception, DeFi Alpha has delivered significant results, generating over C$133.1 million (US$97.5 million) in cash and digital asset equivalents in 2024." 3. The Stillman Digital segment is, according to the MD&A, "a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement and technology." The Company acquired Stillman Digital in October 2024, issuing Company shares to finance the acquisition. The Company's year-end financials should provide investors with initial insights into this segment's performance. 4. The Company's DeFi Ventures segment invests in decentralized finance businesses, seeking to maintain a diversified portfolio of companies. The portfolio companies of Defi Ventures are described here . 5. Per the MD&A, the Company's DeFi Infrastructure segment offers "governance services and products within the DeFi ecosystem." For more information regarding services and the Company's partners, see this link . 6. Finally, the Reflexivity LLC business segment is a provider of boutique crypto industry research. Co-founded by Anthony Pompliano and Will Clemente, the Company acquired Reflexivity LLC in the first quarter of 2024. *** Notably, in my prior articles concerning the Company, including my original article linked here , I noted that the Company retained an interest in crypto miner, Hive Digital Technologies Inc. ( HIVE ). Today, however, that investment no longer appears to be on the books of the Company. Certain Recent Developments After the close of the third quarter of 2024, the Company has made some positive announcements that demonstrate positive momentum for Valour. Per the MD&A, those developments include: In October 2024, Valour listed the Valour Sui ( SUI-USD ) ETP on the Spotlight Stock Market in Stockholm, Sweden (the " Spotlight Stock Market "). SUI, a protocol that I own, is a Layer 1 blockchain with a high quality management team (previously part of the Diem project of Facebook/Meta Platforms, Inc. ( META )). Also in October 2024, Valour listed the first-ever Valour Bittensor ( TAO-USD ) ETP on the Spotlight Stock Market, providing investors with access to Bittensor's "decentralized machine learning protocol." [The Author is unfamiliar with this protocol.] A month later, in November 2024, the Company announced that Valour and affiliates had introduced a new physically backed, high-yield Bitcoin ETP for German investors in collaboration with Core Foundation . Net Income The Company has grown revenues and net income materially over the last three years. (Canadian Dollars) September 30, 2021 September 30, 2024 Total Revenues 9,967,376 152,436,040 Total Expenses 25,376,938 55,199,666 Net Income (21,454,530) 95,145,316 Indeed, the Company has turned large losses into profits. Keep in mind too that the bull market in crypto accelerated in the fourth quarter of 2024 in anticipation of (and following) the Trump victory. The Company is estimated to report 2024 year-end earnings on April 2, 2024. I am anticipating that the Company will have a solid quarter as its assets under management (" AUM ") more than doubled year over year (and exceeded $1 billion (Canadian)). This could be a big catalyst for the stock price, particularly if the Company can continue to show overall growth in AUM and net inflows into its ETPs. Balance Sheet (Canadian Dollars) September 20, 2021 September 20, 2024 Current Assets 264,598,501 832,070,950 Current Liabilities 246,809,926 789,761,126 Current Ratio ** 1.07 1.05 Total Assets 372,062,311 928,959,248 Total Liabilities 246,831,974 789,761,126 Shareholder Equity 125,230,337 139,198,122 Shares Outstanding (Diluted) 189,037,949 339,793,738 ** Not included in the linked balance sheets included above. Added by Author. The balance sheet has grown over the last three years, but liquidity has not necessarily improved as the Current Ratio has actually declined. Shareholder Equity has slightly improved, but there has been significant shareholder dilution along the way. With profits and AUM growing, however, it is important for the Company to begin to improve its liquidity profile. I will be looking at year-end results closely in this regard. A risk I see is that management is possibly doing too much and making investments in too many verticals. Other risks are noted or referenced below. Risks Key risks are enumerated in the MD&A linked above. Notably, however, the decline in the Canadian dollar is having an adverse effect on the Company. The chart below shows the performance of the Canadian dollar via the Invesco CurrencyShares® Canadian Dollar Trust ETF ( FXC ) and the US Dollar Index ( DXY ) over the last three years. Seeking Alpha Moreover, a large number of the Company's ETPs are listed on European exchanges, and the recent trend for the Euro has been downward as well. The chart below shows the performance of the Euro via the Invesco CurrencyShares® Euro Currency Trust ETF ( FXE ) and the US Dollar Index ( DXY ) over the last three years. Seeking Alpha Needless to say, ownership of the Company includes material foreign currency risk associated with the Canadian dollar , the Euro and certain other European currencies. Further, due to the Company's size (under $1 billion market cap) and it being domiciled in Canada, it is not included in any large stock indexes (at least as far as I can tell) and, as such, the Company is not the beneficiary of material passive flows. This could prove to be a competitive disadvantage. Lastly, with significant exposure to alt-coins, the Company is very volatile. Since it began trading on public markets (in or about March 2020), it makes Bitcoin look very dull by comparison as shown in the chart below. Seeking Alpha In short, this kind of volatility is not for everyone. Conclusion With its fast growing asset management business, the Company is a speculative BUY . Moreover, it continues to hold promise as a call option on the crypto/DeFi space. Consequently, it holds a place in the speculative bucket of my Model Asset Allocation .
The post These Altcoins are Set to Skyrocket on Donald Trump’s Inauguration Day appeared first on Coinpedia Fintech News The market has faced many legal and government challenges and it now hopes for better policies with the new administration. Supporters are likely to have a say in U.S. technology rules after President-elect Donald Trump, who takes office Monday, appointed several to key positions. As a result, the crypto market is already surging exponentially, with several altcoins set to skyrocket on 20 Jan. Interestingly, Official Trump meme coin, Solana and XRP, might create new ATHs on Monday. A ‘Trump Pump’ Might Surpass Buyers’ Expectations With less than a day until President-elect Donald Trump’s inauguration on January 20th, traders are excited to see how his administration, which is rumored to be supportive of crypto, will influence the industry’s future. Also read: XRP Lawsuit News: Ripple’s Fight with SEC Faces New Twist as Trump Promotes Meme Coin On Friday, Bitcoin reached its highest price of 2025, with investors looking forward to Donald Trump’s second presidential inauguration on January 20th. Trump is said to be planning to sign over 100 executive orders right away, some of which might address Bitcoin and the broader crypto market. As a result, several altcoins, along with a new meme coin launched by Donald Trump, have begun to see significant increases in value. However, there is also worry about potential pump-and-dump schemes in the market, although the likelihood of this happening is quite low. Official Trump Price Analysis Donald Trump announced a new cryptocurrency called the Trump memecoin just days before his inauguration. Despite concerns of potential scams, the excitement drove the memecoin’s value on the Solana blockchain to soar to a market capitalization (FDV) of over $38 billion. The hype is expected to grow as the meme coin endorsed by the incoming president boosts trader confidence. Currently, the Official Trump meme coin is trading at $38.8, having surged over 190% in the last 24 hours. It is anticipated that the Trump coin will maintain its buying demand on January 20th. With the price chart showing a rising wedge pattern, the coin’s value is predicted to skyrocket above $40. The target price for January 20th is set between $70 and $80. Solana (SOL) Price Analysis Solana price continues to surge above immediate resistance lines, reaching its November highs. As of writing, SOL price trades at $270, increasing over 8.9% from yesterday’s rate. The 20-day average price has begun to rise, and the Relative Strength Index (RSI) has moved into overbought territory, hinting at a minor retest of immediate support level. There’s a slight resistance at $303, but it’s expected that this price can be surpassed. If so, the SOL/USDT pair might increase to $350 tomorrow. XRP Price Analysis XRP continues to surge due to the fact that the new SEC might bring fresh crypto policies, impacting Ripple’s legal lawsuit positively. XRP price has been surging exponentially and is preparing for further surges tomorrow by consolidating at $3.2. For a robust surge, XRP needs to hold above the EMA20 trend line. As the RSI level continues to hover around 60 level, XRP price might skyrocket toward $3.8-$4.
Solana’s volume in the decentralized exchange industry jumped to a record high on Sunday, Jan. 19. According to DeFi Llama , Solana’s ( SOL ) DEX protocols handled $19.47 billion in volume, up from $19.37 billion the previous day. The previous daily record was $7.5 billion in November last year. This surge happened because of the recent launch of the Official Trump ( TRUMP ) meme coin that launched on Friday, Jan. 17. So far, the token has gained a market capitalization of over $7.5 billion, while its 24-hour trading volume jumped to $11 billion. You might also like: Official Trump meme coin surges 330%, critics raise concerns Most of this volume is happening in Solana DEX networks, led by Meteora, Raydium, Orca, and Lifinity. Other centralized exchanges like OKX, Binance, Bitget, and MEXC have also listed the token and are starting to gain some market share. Solana’s DEX volume was significantly higher than other leading layer-1 and layer-2 chains. Ethereum’s ( ETH ) protocols handled $3.63 billion in the last 24 hours, while BNB Chain, Base, and Arbitrum handled $3 billion, $2 billion, and $1 billion, respectively. Solana’s weekly volume has also jumped to a record high of over $56 billion, much higher than Ethereum, BNB, Base, and Arbitrum combined. You might also like: https://crypto.news/80-of-trump-coin-for-insiders-100-grift-coffeezilla/ Other Solana meme coins also contributed to this volume growth. Bonk ( BONK ) jumped by 10%, with its 24-hour volume reaching over $1 billion. Fartcoin price jumped by almost 30%, with its volume reaching $557 million. This performance led to higher fees for the Solana blockchain. Data by TokenTerminal shows that the fees jumped to $4.7 million, the highest level since Jan. 8. Solana hits all-time high Solana price chart | Source: crypto.news These fundamentals and the rising SOL ETF approval hopes have pushed the token to a record high. It jumped to a high of $275 on Jan. 19, crossing last year’s high of $265 and invalidating the double-top pattern that formed. A double-top is a risky sign that often leads to a bearish breakout, initially to the neckline. In this case, the neckline was at $170, its lowest point this month. Solana’s price has remained above all moving averages, while the Money Flow Index has tilted upwards and is nearing its overbought level. Therefore, the coin will likely keep rising as bulls target the key resistance at $281, the extreme overshoot of the Murrey Math Lines. Read more: Top 3 reasons why Solana price rally has more room to go