Wintermute predicts greater integration of cryptocurrencies with traditional finance this year. Institutional interest is growing, spurring innovative financial products and strategies. Continue Reading: Wintermute Predicts a Surge in Crypto Integration with Traditional Finance The post Wintermute Predicts a Surge in Crypto Integration with Traditional Finance appeared first on COINTURK NEWS .
President-elect Donald Trump unveiled his personal memecoin, TRUMP, on the Solana blockchain.
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The cryptocurrency market has a new superstar that has evidently pushed the native token of the blockchain it is based on to a new all-time high. More specifically, the newly launched OFFICIAL TRUMP meme coin has propelled a massive rally for SOL, which became the top gainer from the 10 largest alts and briefly spiked to $270 for a fresh peak, according to CMC and most exchanges. SOLUSD. Source: TradingView CryptoPotato reported earlier today the biggest news in the cryptocurrency industry as of late – the launch of an official meme coin by the president-elect, Donald Trump. Given his popularity and significance not only in the crypto and financial markets but also in the entire world, the token (TRUMP) gained massive attention, and its market cap has skyrocketed to roughly $6 billion as of now, making it the 33rd largest digital asset by that metric. Being based on Solana’s blockchain, the demand for the asset, which saw trading volumes of over $11 billion in the past 24 hours, impacted the former’s native token as well. In a landscape where most altcoins, as well as BTC, are posting daily declines, SOL has exploded by 18% within the past 24 hours and now sits at $255. Moreover, it briefly spiked to $270 on Coinbase and other exchanges to chart a new all-time high by breaking the November peak of $265. SOL’s market cap has blown up as well and is now above $120 billion, which made it the fifth-largest cryptocurrency, surpassing BNB’s $102 billion. Aside from the obvious TRUMP meme coin mania, SOL’s price was recently boosted by other positive developments related to the US front. According to recent reports , the president-elect plans to boost the local crypto ecosystem, which includes US-based projects like Ripple and Solana. Separately, the prospects of an SOL ETF have grown exponentially since Trump’s re-election and his upcoming inauguration, given that he has shown a substantially more positive approach to crypto. The post Solana (SOL) Rockets to New All-Time High as TRUMP Mania Sweeps the Market appeared first on CryptoPotato .
With Gary Gensler’s impending resignation as SEC chair, the crypto market has reacted with an uptick of ETF filings against his expected regime change. ETF Filings on Overdrive Before Gensler’s Demise Crypto companies have been flooding the commission with exchange-traded fund proposals in recent weeks, and with Gary Gensler’s final day as SEC chair on Jan. 20, hopes are high among crypto firms for a new beginning: at least four new filings emerged on Jan. 17. ProShares , one of the pioneers of the first Bitcoin-linked ETF, filed for a Solana Futures ETF. It would provide investors with access to Solana’s price movements through future contracts. Industry players such as James Seyffart, ETF analyst, do not see it becoming a short-term reality, citing the dearth of large, liquid Solana futures markets. Major Players Join the Filing Frenzy Digital asset manager CoinShares filed an application for its “CoinShares Digital Asset ETF” to track its proprietary Compass Crypto Market Index. ProShares also filed for leveraged, inverse and futures ETFs linked to XRP, while other firms including Bitwise, 21Shares and WisdomTree submitted spot XRP ETF proposals. Tidal DeFi, meanwhile, pitched its Oasis Capital Digital Asset Debt Strategy ETF, which will also invest in debt but related to companies within the crypto ecosystem . VanEck filed an “Onchain Economy” ETF that has a wider mandate to include more crypto-related businesses. Industry Reactions to Gensler’s Exit Gensler’s term, which began in April 2021, marked an unusually aggressive period in regulatory policy, with lawsuits filed against giants such as Coinbase and Binance. His departure foreshadows potential policy shifts, hence the current ETF filing frenzy. Eric Balchunas, Senior ETF Analyst, had this to say about events: “Gensler wasn’t even out of the building for five minutes, and the ETF industry unleashed a massive crypto filing frenzy.” The spate of filings underscores the crypto sector’s anticipation of a regulatory pivot that could pave the way for broader ETF approvals in the near future.
United States president-elect Donald Trump has come under scrutiny from a section of the cryptocurrency community after surprisingly launching his Official Trump (TRUMP) meme coin on the Solana ( SOL ) network. On January 17, Trump stated through his Truth Social account that the meme coin’s launch was to celebrate ‘winning.’ The announcement initially sparked speculation that his account might have been hacked, further fueling interest before it became clear Trump had officially become the first U.S. president to unveil a meme coin. The token has experienced explosive growth, surging over 12,000% since its launch. As of press time, TRUMP was valued at $29 after reaching an all-time high of nearly $35 and achieving a market cap of $5.98 billion. TRUMP meme coin all-time price chart. Source: CoinMartketCap Meme coins often draw criticism for their lack of utility, and Trump’s cryptocurrency is no exception. Critics argue the coin exploits his political position for financial gain. Trump slammed for meme coin launch During his campaign, Trump pledged to make the U.S. a cryptocurrency hub and even proposed the creation of a Bitcoin ( BTC ) strategic reserve. However, some believe the launch of TRUMP undermines these promises and raises ethical questions. One notable critic is popular YouTuber Stephen Findeisen, a.k.a. Coffeezilla, who questioned the timing and structure of the coin’s distribution. In an X post on January 18, Coffeezilla termed the token unethical to introduce such a project just hours before Trump’s inauguration. He speculated that forthcoming regulators might shield the project from legal repercussions, labeling the move “nasty work.” Coffeezilla also expressed concerns about 80% of the token supply being reserved for insiders, potentially leading to significant losses for less informed supporters. > dropping TRUMP memecoin 2 days before becoming president is nasty work > new SEC/DOJ guarantees no prosecution > 80% of tokens vest to insiders DURING the presidency > most ppl losing money will be MAGA who aren't crypto native > *should* be a crime but crime is legal now ig? — Coffeezilla (@coffeebreak_YT) January 18, 2025 Similarly, crypto commentator Brian Krassenstein, initially skeptical about the coin’s legitimacy, urged Bitcoin supporters backing Trump to reconsider. He pointed to accusations of insider trading and rapid wealth accumulation from the token, calling it “peak grift and cronyism.” “If your goal is to unite the country around Bitcoin this is the exact opposite of what you should want. Trump has allegedly tripled his net worth in just hours. This comes two days before inauguration while he and his inner circle reportedly control 80% of a $20 BILLION COIN. If this isn’t peak grift and cronyism, I don’t know what is,” he said. Economist Peter Schiff, a well-known cryptocurrency critic, mocked the sudden rise of the coin’s market cap compared to Bitcoin. Sarcastically, he suggested creating a “strategic reserve” for TRUMP tokens. Meanwhile, Anthony Scaramucci, a former Trump aide, dismissed the project as “corruption,” describing the frenzy around the coin as harmful to the broader crypto industry. The Trump meme coin stuff is bad for the industry. Don’t delude yourself. It’s Idi Amin level corruption. — Anthony Scaramucci (@Scaramucci) January 18, 2025 Intrigues around TRUMP launch The token’s meteoric rise has significantly rewarded early investors . For example, one trader reportedly turned $50,000 into nearly $1.1 million within two hours. For perspective, an analysis by The Kobeissi Letter noted that $100 invested in the S&P 500 in 1994 would be worth $2,250 today, a 2,150% return over three decades. By comparison, TRUMP delivered an extraordinary 4,000% return in less than four hours. 30-year stock market returns. Source: The Kobeissi Letter Only 20% of the maximum TRUMP supply—200 million coins—is circulating in the market. The remaining 800 million coins will be gradually released over the next 36 months. It is widely believed that Trump himself controls this 80% reserve. TRUMP token distribution by group. Source: The Kobeissi Letter Skeptics warn that this influx of supply could eventually crash the coin’s value, potentially driving it to zero. On the other hand, proponents argue that the gradual emission schedule will help balance supply and demand, stabilizing the price over time. In summary, the rollout of the TRUMP meme coin cements the recent frenzy around such tokens and has often capitalized on social media hype and major events. While some investors have reaped massive profits, concerns persist over insider trading and the legitimacy of similar projects. Featured image via Shutterstock The post Trump slammed for ‘nasty work’ after launching meme coin 2 days to inauguration appeared first on Finbold .
Cardano is consolidating within a critical price range, with the recent action suggesting buyers’ determination to overcome the $1.3 resistance threshold. However, the movements at this juncture are pivotal in shaping ADA’s next market trend. Technical Analysis By Shayan The Daily Chart Cardano recently witnessed significant buying interest near the $0.87 support level, sparking a sharp price increase. This bullish momentum has driven the asset toward the $1.3 resistance region, a key level due to its alignment with the descending wedge’s upper boundary. The $1.3 resistance presents a formidable challenge as it combines psychological significance with technical importance. Breaking above this level could signal the beginning of a mid-term uptrend, potentially targeting the $2 resistance zone. However, failure to break out could lead to prolonged consolidation or even a bearish reversal. The 4-Hour Chart On the 4-hour timeframe, ADA recently broke out of a descending wedge pattern, initiating a surge from the wedge’s broken trendline at $0.87. The price has since approached the $1.3 resistance, which aligns with a previous major pivot point, further solidifying its significance. Currently, Cardano is consolidating at nearly $1.3, with signs of seller pressure emerging. A bearish divergence between the price and the RSI indicator suggests growing selling momentum. To determine the next major move, ADA needs a decisive breakout above this consolidation range. A bullish breakout could trigger a sustained rally, targeting higher levels like $2, while a rejection at $1.3 might result in further declines, with potential support near $0.87. The post Cardano Price Analysis: ADA Must Clear This Major Resistance to Eye $2 appeared first on CryptoPotato .
Vitalik Buterin, ETH co-founder, has responded to calls for leadership change in the Ethereum Foundation (EF). In a post on X, Buterin gave insights into what the foundation has done, ongoing reforms, and what the community should expect moving forward. Ethereum Foundation and Primary Leadership Focus According to Buterin, the leadership of EF, a Switzerland-based nonprofit organization, is undergoing critical changes. He highlighted five notable goals the organization is focused on regarding this leadership change. Buterin primarily emphasized the need to enhance the technical capabilities of EF leadership. The team will comprise people who are guiding Ethereum’s development and have a strong knowledge of its complexities. We are indeed currently in the process of large changes to EF leadership structure, which has been ongoing for close to a year. Some of this has already been executed on and made public, and some is still in progress. What we’re trying to achieve is primarily the following… — vitalik.eth (@VitalikButerin) January 18, 2025 The Ethereum co-founder also stressed the need to strengthen relationships within the ecosystem. He hopes to achieve this through improved communication between developers, users, and other stakeholders. In addition, fresh talents will be injected to boost the foundation’s ability to execute plans “swiftly and effectively.” Other primary focus for the next EF leadership include active support for application developers. This change hopes to uphold key ecosystem values, including privacy, open-source development, and resistance to censorship. Furthermore, the EF intends to increase the use of decentralized technologies and the Ethereum blockchain for payments. The change will also support its treasury management as it seeks to reinforce its commitment to decentralization. Vitalik Buterin on Commitment to Neutrality However, Buterin has rejected suggestions that the Ethereum Foundation engage in aggressive lobbying functions. He maintained that the EF would not lobby regulators or political figures in powerful countries like the U.S. Buterin said such a move could compromise Ethereum’s long-standing neutrality and policy of avoiding political entanglements. In a bold statement emphasizing his stance, Buterin maintained that the Ethereum Foundation would not engage in such a thing. He called on people clamoring for such change to go ahead and establish their organization and chase such visions. Buterin opposes centralization and deviation from Ethereum’s core principles. Through the post, he has reassured the broader Ethereum community of his commitment to staying true to these foundational values. The Upcoming Pectra Upgrade Meanwhile, developers plan to implement the Pectra upgrade on the mainnet by March this year. The upgrade is one of the largest since Ethereum migrated to Proof of Stake. The upgrade aims to make the Ethereum blockchain more scalable and secure for users. Investors on Ethereum anticipate that these developments could at least result in a price surge for the asset. Some stakeholders look forward to Ethereum registering a new all-time high for its price. At the time of writing, the coin was changing hands for $3,274.09, down 4.42% in 24 hours. The post Vitalik Buterin Unveils Ethereum Foundation Goals Amid Leadership Changes appeared first on CoinGape .
Sherpa predicts Hyperliquid may rise by at least 116% soon. He cautions against current long-term positions in XRP. Continue Reading: Analyst Predicts Significant Growth for Hyperliquid and Evaluates Leading Altcoins The post Analyst Predicts Significant Growth for Hyperliquid and Evaluates Leading Altcoins appeared first on COINTURK NEWS .
Police have seized £28 million (US$34 million) in assets from an international Bitcoin fraud gang that exploited a glitch in an Australian cryptocurrency trading website. As per the report by the Lancashire Telegraph , the investigation centered around James Parker from Blackpool, who identified the vulnerability in 2017. Over three months, Parker and his associates stole more than £20 million in credits through the security flaw. The scheme’s proceeds were laundered with help from Stephen Boys of Clayton-le-Moors, who earned the nickname “Rodney” from “Only Fools and Horses.” The investigation revealed extravagant spending, including £5,000 gift cards distributed on streets and cars purchased for random pub acquaintances. Boys admitted to carrying £1 million in cash to buy a villa from Russians and paying £60,000 to corrupt officials to continue money laundering operations. You might also like: NFT sales enjoy modest bump to $164.3m, Azuki dethrones Pudgy Penguins with 268% surge Police recovered 445 Bitcoin ( BTC ) worth £22 million at the time, along with luxury watches, houses, cars, and designer goods, including a £600 wine cooler. More than £1 million was found in various bank accounts. The assets seized from individual members included: £11.5 million from Boys £8 million from Parker’s estate £8 million from Kelly Caton £4 million from Jordan Robinson £1,100 from James Austin-Beddoes Parker died in 2021 before prosecution, but his co-conspirators received sentences in January 2023. Boys, 61, was jailed for six years for money laundering. Robinson, 26, received multiple sentences totaling eight and a half years, while Caton, 47, received similar terms. Austin Beddoes, 30, received a suspended sentence. The victim has been fully compensated for the £24.5 million loss. Due to Bitcoin’s value increase, the seized assets exceeded the original fraud by £3 million. This surplus will be divided between the Home Office, courts, and Lancashire Police. DS Dave Wainwright from the economic crime unit noted that defendants have three months to comply with court orders or risk an additional 14 years imprisonment. The investigation involved international cooperation with law enforcement in Australia and Finland. Read more: Jamie Dimon says Bitcoin is ‘fraud’, blockchain is the solution, but data shows cash fuels crime