Shiba Inu price has not been left behind in the ongoing altcoin sell-off. It has retreated by over 22% from this month’s high, but several catalysts could lead to a strong SHIB rebound. It has found strong support at the 50-day moving average, burn rate has jumped, and the number of daily active addresses is stable. Shiba Inu Price May Rebound As Burn Rate Rises SHIB price is set to benefit as the number of tokens being incinerated rise. Data by ShibBurn shows that the burn rate jumped by 4,766% on December 18. Over 5.2 million tokens were removed from circulation, bringing the total coins burned to over 410 trillion. The network now has over 584 trillion tokens in circulation. Shiba Inu token burns will benefit the coin by reducing the total supply and making it deflationary. Some of these token burns are voluntary, while the rest come from its ecosystem like Shibarium and ShibaSwap. BONE tokens generated from fees are converted into SHIB and burned. Shiba Inu Token Burn SHIB Active Addresses Are Stable Meanwhile, the number of Shiba Inu active addresses has remained stable even after the coin crashed by 22% from the year-to-date high. Historically, crypto investors tend to exit when a cryptocurrency moved into a local bear market. According to IntoTheBlock , new Shiba Inu addresses rose by 9.10% in the last seven days. Active addresses have dropped by just 5.96% in the same period, a relatively small number. The number of Shiba Inu addresses with balance has continued rising and now stands at 1.37 million, as shown below. This figure is higher than the 30-day average of 1.35 million. These numbers mean that there has been no panic selling by investors as the Shiba Inu price nose-dived. Shiba Inu Addresses SHIB Price Technical Analysis: SHIB Finds Support The daily chart shows that the Shiba Inu price has found a strong support at the 50-day moving average. It has failed to move below that moving average since September this year. The token has also found support at the Ichimoku cloud indicator, a sign that it is still in an uptrend. On top of this, Shiba Inu price has formed a cup and handle pattern whose upper side is at $0.00002941. A C&H pattern is characterized by a rounded bottom that comes after an asset hits a crucial resistance. The ongoing consolidation and pullback is part of the formation of the handle section. Therefore, the coin will likely bounce back in the next few days. If this happens, the initial target will be at $0.00002941, the upper side of the C&H pattern. We can estimate that the Shiba Inu price will jump to $0.0000477 by measuring the cup’s depth and then taking the same measurement from its upper side. Shiba Inu Price The bullish view will become invalid if the coin falls below the support at $0.00002275, its lowest swing on November 15. The post Shiba Inu Price Finds Support At Key Level: Will SHIB Rebound? appeared first on CoinGape .
Scott Bessent, Donald Trump’s pick for Treasury Secretary, will meet Senator Elizabeth Warren later today in a showdown between two people with radically different views on crypto. Bessent, an outspoken advocate for blockchain, is expected to face a grilling from Warren, one of the top haters of crypto in Washington. The meeting is part of a series of Capitol Hill discussions before his confirmation hearings next month. Bessent’s Capitol Hill itinerary also reportedly includes meetings with Republican senators Mitch McConnell, Ted Cruz, and James Lankford. Warren’s war on crypto Warren has made no secret of her disdain for crypto. She claims it undermines financial systems, enables illicit activities, and allows bad actors to sidestep U.S. sanctions. Her Anti-Money Laundering Act , which now boasts 21 Senate co-sponsors, is designed to clamp down on the crypto industry with stricter regulations. Warren has specifically called out crypto’s role in helping Russia evade sanctions following its invasion of Ukraine. “Crypto takes the sting out of sanctions,” she declared. The Senator frequently targets major figures in banking and finance, and Bessent’s nomination has already drawn her ire. After Trump announced his pick for Treasury Secretary in late November, Warren issued a statement accusing the administration of prioritizing Wall Street over working Americans. “Wall Street may be breathing a sigh of relief at Scott Bessent’s nomination, but working people see no help coming their way,” she has said . Bessent’s pro-crypto playbook Scott Bessent has been vocal about his belief in the transformative power of cryptocurrency. “Crypto is about freedom,” he said, adding that crypto attracts young investors disillusioned with traditional financial systems. His vision for the Treasury Department includes initiatives like establishing a national Bitcoin reserve and forming a crypto advisory council, which align with Trump’s broader pro-crypto policies. Before founding his macro hedge fund, Key Square Group, Bessent served as the chief investment officer at Soros Fund Management. He made headlines in the 1990s with a $1 billion profit from shorting the British pound and later with another big win against the Japanese yen in 2013. At its peak, Key Square managed over $5 billion in assets, cementing Bessent’s reputation as a strategic thinker. He has dismissed the notion that crypto should be defined by its bad actors. The Wall Street champion has also criticized Democrats for targeting the entire industry instead of addressing specific issues. “The crypto economy is here to stay,” he said. Given Warren’s influence in the Senate and her high-profile stance against crypto, today’s meeting will likely involve some tough questions about Bessent’s plans for the Treasury and his unapologetic support for blockchain technology. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
In a historic pivot, Crypto.com has voluntarily dropped its lawsuit against the U.S. SEC, signaling a strategic shift in its regulatory approach. This decision appears to be aligned with recent
"Honored to have a seat at the table," Crypto.com CEO Kris Marszalek said while sharing a picture with the U.S. president.
Cardano founder Charles Hoskinson has recently sparked market discussions with his recent comment on the Cardano Foundation (CF) jurisdiction. In a recent X post, he said that the Foundation should consider shifting its legal base from Switzerland if it doesn’t allow it to elect its board members “democratically.” Besides, he also urged CF to move its base to other places like Abu Dhabi or Wyoming. Charles Hoskinson Calls For Cardano Foundation’s Jurisdiction Change In a recent social media post, Cardano founder Charles Hoskinson expressed concerns over CF’s adherence to democratic principles. He argued that Switzerland’s legal framework limits the community’s role in electing board members, creating a governance gap. Having said that, Hoskinson proposed an alternative and recommended CF’s jurisdiction shift to “Abu Dhabi or Wyoming”, both known for their blockchain-friendly environments. Notably, the call for Cardano Foundation’s security and transparency also surged among users after a recent X hack incident of the organization. However, Hoskinson noted that Switzerland’s governance model restricts community influence. He emphasized the need for transparency and a shift toward community-driven decisions. Besides, the Cardano founder also questioned past board appointments, urging more accountability. Meanwhile, this sentiment echoes frustrations from Cardano enthusiasts who seek a governance model that promotes inclusivity. One user responded, stating that Swiss bylaws enforce strict compliance and offer some protection but lack flexibility for broader community involvement. Hoskinson acknowledged the challenge, stating: “The alternative is having people appointed by the Swiss government forever choose their successors and never have any community input in the use of funds, leadership, or oversight.” Cardano Foundation Addresses Concerns The recent comment from Charles Hoskinson comes as the Cardano Foundation has recently made an X post addressing user concerns. In a recent X post, CF has responded to governance critiques with a promise of transparency. The Foundation announced a series of open discussions to address community concerns, starting with a virtual forum featuring CEO Frederik Gregaard and other leaders. In an official post, the Foundation stated: “Transparency, clarity, and dialogue are important to us. Over the past few years, we have put considerable effort into improving this, with the latest improvements being the launch of our financial insights report, along with our on-chain audited financial statements to complement our annual activity report.” However, the Foundation’s recent efforts seem insufficient for the Cardano founder, who has called for an entirely new structure. He believes shifting to a decentralized framework can better align with the blockchain’s ethos. Hoskinson’s push for change has sparked widespread discussion in the crypto community. Supporters of his proposal see it as an opportunity to elevate Cardano’s standing as a decentralized ecosystem. However, critics warn of potential challenges, including the complexities of implementing a fair election process and securing effective governance. Meanwhile, this comes after Hoskinson recently engaged in a Cardano Foundation’s anonymous whistleblower’s post, which has gained notable traction. The post Charles Hoskinson Calls For Cardano Foundation Move To Abu Dhabi Or Wyoming appeared first on CoinGape .
The post Coinbase Premium Index Shows Sign of Weakness Despite Bitcoin Surge appeared first on Coinpedia Fintech News Bitcoin’s recent price surge to $107K has caught attention, but a key indicator is showing a potential warning. The Coinbase Premium Index, which tracks Bitcoin demand in the U.S., has been declining even as Bitcoin’s price rises. This divergence suggests that while Bitcoin’s value increases, it might not be fully supported by U.S. investor demand. With significant factors like the upcoming Bitcoin ETFs and the U.S. presidential election influencing the market, this trend raises concerns about the strength of Bitcoin’s upward momentum.
Coinbase, the leading cryptocurrency exchange in the US, has announced a halt to Wrapped Bitcoin (wBTC) trading starting December 19 due to unforeseen compliance concerns. This move sparks controversy as
The cryptocurrency space thrives on innovation, and the latest buzz centers around Lightchain AI (LCAI) , hailed as the XRP Killer. With its groundbreaking features and viral popularity, Lightchain AI is drawing attention as a formidable contender in the blockchain world. Currently priced at $0.003 during its Lightchain AI Presale , the project has quickly captured the imagination of investors and enthusiasts alike. While Ripple (XRP) has long been a leader in cross-border payment solutions, Lightchain AI is carving a niche of its own by merging blockchain with artificial intelligence. This fusion has propelled it into the spotlight, with many predicting it could redefine the competitive landscape. In this article, we delve into the features, momentum, and community sentiment driving Lightchain AI’s viral rise. Key Features of Lightchain AI That Set It Apart From XRP Lightchain AI’s success stems from its innovative approach to blockchain and artificial intelligence integration. Unlike XRP, which focuses on streamlining cross-border payments, Lightchain AI addresses broader challenges with its Proof of Intelligence (PoI) consensus mechanism. PoI incentivizes nodes to perform meaningful AI computations, such as model training and optimization, directly contributing to the platform's utility. Another standout feature is the Artificial Intelligence Virtual Machine (AIVM), which provides a secure and scalable environment for executing AI-specific tasks. While XRP has carved out its niche in financial technology, Lightchain AI targets industries such as healthcare, logistics, and finance, making it a more versatile platform. These unique features ensure that Lightchain AI not only competes with XRP but also extends the blockchain’s applicability to a wider range of use cases. Recent Developments That Have Propelled LCAI Into the Spotlight Lightchain AI’s viral status is no coincidence; a series of recent developments has amplified its visibility. The ongoing presale, priced at $0.003, has attracted significant attention from both retail and institutional investors. This early-stage opportunity offers an attractive entry point, driving widespread interest and investment. Additionally, Lightchain AI’s roadmap includes a testnet launch in early 2025, followed by a mainnet rollout mid-year. These milestones underscore the platform’s commitment to continuous innovation and scalability. As these developments unfold, Lightchain AI’s market relevance continues to grow, cementing its position as a project to watch. Market Momentum Driving Lightchain AI’s Viral Status The cryptocurrency market’s excitement over Lightchain AI stems from its ability to tap into multiple trends. The integration of AI and blockchain addresses a growing demand for decentralized solutions capable of handling complex computational tasks. This unique value proposition has resonated with investors seeking transformative projects. Moreover, Lightchain AI’s affordability has been a significant driver of its viral status. Priced at just $0.003, the token offers an accessible entry point for a wide range of investors. This affordability, combined with its potential for exponential growth, has created strong market momentum, propelling Lightchain AI into the spotlight. Community and Investor Sentiment Surrounding Lightchain AI Lightchain AI’s rise to prominence is bolstered by its rapidly growing community of supporters. Enthusiasts are drawn to the project’s innovative features and the opportunity to participate in its early stages. The presale has sparked widespread excitement, with investors rallying around the token’s potential to deliver significant returns. Sentiment on social media platforms and cryptocurrency forums reflects a strong belief in Lightchain AI’s ability to disrupt the market. The platform’s transparent roadmap and focus on addressing real-world challenges have fostered trust and confidence among its backers. This growing community support is a key factor driving Lightchain AI’s momentum and viral popularity. Why Lightchain AI Could Redefine Blockchain’s Competitive Landscape Lightchain AI combines blockchain technology with artificial intelligence, addressing key issues like scalability, privacy, and governance. Its unique approach differentiates it from competitors like XRP, which focuses mainly on financial transactions. The platform enables decentralized AI tasks, unlocking new possibilities across various industries. It offers a versatile and impactful solution for enterprises and developers. As adoption grows, Lightchain AI’s relevance and market value are expected to increase significantly. These factors position Lightchain AI as a leader in the next wave of blockchain innovation. Lightchain AI’s Ascent as a Top Contender in Crypto The buzz around Lightchain AI as the XRP Killer is well-deserved. With its innovative features, affordable entry price of $0.003, and growing community support, Lightchain AI is rapidly ascending the ranks of top cryptocurrency projects. Its focus on integrating AI with blockchain addresses critical challenges and expands its utility across multiple industries, making it a standout contender in the competitive crypto landscape. As Lightchain AI progresses through its roadmap and gains adoption, it is poised to disrupt the market and redefine what blockchain technology can achieve. For investors seeking the next big opportunity, Lightchain AI offers unparalleled potential, solidifying its place as a leader in the future of decentralized innovation. Visit the Lightchain AI Website Read the Lightchain AI Whitepaper Follow Lightchain AI on Twitter/X Join the Lightchain AI Community on Telegram 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.
Chaincode Labs , a privately funded Bitcoin research and development centre based in New York City, has awarded its inaugural Bitcoin Scholarship to 17-year-old Ishaana Misra, the youngest contributor to Bitcoin Core in the technology's 15-year history. Misra was selected from 232 applicants globally for the scholarship, covering one year's academic expenses. She can renew it annually to potentially fund her entire undergraduate education. "This scholarship exists to encourage young people to consider a career in Bitcoin open source development," said Adam Jonas, CEO of Chaincode Labs . "In order to do that, they need experience. This seemed like the right kind of incentive where we are helping them continue their education and they spend their summers contributing to Bitcoin open source software." Misra started programming at 12, but her Bitcoin journey began before high school when she read the whitepaper. She quickly went from running a node to contributing to Bitcoin Core, teaching herself C++. "I'm usually the youngest at Bitcoin developer meetups, but I don't think about it much anymore," said Misra. "Your work really speaks for itself. If you're interested, people will take you seriously." It's inspiring to see the younger generation getting involved with Bitcoin development and being supported, as it will encourage more youth to contribute.
The crypto community is lashing out against Coinbase’s reasoning for delisting Wrapped Bitcoin (WBTC) after the exchange linked the decision to the “unacceptable risk” associated with Tron founder Justin Sun. On December 17, Coinbase filed a response to a lawsuit from BiT Global, a company affiliated with Sun. The lawsuit accused the exchange of harming the Wrapped Bitcoin (WBTC) market by removing the token from its platform in November. In its filing, Coinbase referenced concerns about Sun, citing allegations of financial misconduct and ongoing regulatory investigations as reasons for the delisting. According to the exchange, Sun’s involvement in the WBTC project presented significant risks that could compromise its platform’s integrity. However, this explanation has sparked sharp criticism within the crypto community, with many questioning the adequacy of Coinbase’s legal and technical justification for the move. Bit Global: WBTC delisting is ‘ill-advised’ In the lawsuit that BiT Global filed on December 13, it argues that the delisting was illegal and would lead to irreparable damage to WBTC’s economics. The lawsuit also criticized Coinbase for listing other tokens, including memecoins, which BiT Global claims are less serious than WBTC. Moreover, BiT argues that COIN’s launch of its own tokenized Bitcoin product, cbBTC, breaches antitrust laws and could lead to a monopoly in the tokenized Bitcoin market, potentially stifling competition. The exchange’s filing justified the delisting by pointing to Sun’s alleged past misdeeds, including accusations of fraud and market manipulation. It expressed skepticism about BiT Global’s credibility, highlighting the firm’s ties to Sun. The exchange contended that its internal process led to the decision to delist WBTC, based on concerns that continued association with Sun could jeopardize its platform’s security and customer trust. Court documents excerpts from the Bit Global vs. Coinbase case. Source: Coinbase Filing Despite this, BiT Global’s legal request to reverse the delisting claims that Coinbase’s decision was arbitrary and without merit, suggesting that the delisting would harm the token’s liquidity and market value. Crypto community uproar ensues Bitcoin enthusiasts and critics of the exchange, such as the prominent figure Pledditor, have lambasted the exchange’s actions, accusing it of relying on a tenuous rationale to remove WBTC. In a post on X, Pledditor described Coinbase’s decision as “guilt by association,” arguing that the exchange’s animus toward Sun overshadowed any solid legal or technical foundation for the move. So in a court filing today, @Coinbase gave their reason why they delisted wBTC, and it's basically just they don't like Justin Sun. That's really just it. They don't give any technical or legal arguments about why wBTC can't be listed. It's just guilt by association pic.twitter.com/bJmMnAue7x — Pledditor (@Pledditor) December 17, 2024 The crypto exchange’s justification also faces scrutiny due to its own legal challenges. Sun, who has been the target of multiple regulatory investigations, is facing charges from the U.S. Securities and Exchange Commission (SEC) for alleged violations, including fraud. Adding to the debate, VanEck adviser Gabor Gurbacs highlighted the irony in COIN’s stance against Sun, pointing out that the exchange itself is embroiled in significant legal battles. Gurbacs noted that Coinbase, which is under investigation by the SEC for allegedly offering unregistered securities, is hypocritical for focusing on Sun’s alleged misconduct while facing its own regulatory challenges. It’s ironic that @coinbase is treating @justinsuntron this way. Coinbase itself is under SEC and numerous other investigations, probably many more than Justin and his businesses. Questioning someone’s reputation this way might just bring out skeletons from their own closet. https://t.co/LsJx7iOhJR — Gabor Gurbacs (@gaborgurbacs) December 17, 2024 Meanwhile, the crypto exchange is also facing charges from the SEC, including one filed in June 2023, accusing the exchange of offering unregistered securities through various tokens listed on its platform. Coinbase’s Chief Legal Officer, Paul Grewal, publicly called for a more constructive approach from regulators toward the cryptocurrency industry. In addition to the SEC investigation, Coinbase also settled with the New York Department of Financial Services in January 2023 for $100 million, addressing concerns about its compliance program. From Zero to Web3 Pro: Your 90-Day Career Launch Plan