Sui Network’s native token, SUI recently clocked another all-time-high (ATH) after it surged past the $4.47 price levels. Having surged more than 450% in the past year, SUI token now ranks among the top crypto performers this year, outpacing more established altcoins like Solana (SOL) with slightly above 200% year-to-date price increase. Continue Reading: Sui and Lunex Network Hit New ATH Price Outperforming Solana The post Sui and Lunex Network Hit New ATH Price Outperforming Solana appeared first on COINTURK NEWS .
Japanese-listed company Metaplanet announced on December 18 that it will formally run Bitcoin Treasury Operations as a new business line. This move, approved by the firm’s board of directors, is part of its broader strategy to integrate Bitcoin into its financial framework. Details of the New Venture The announcement , shared in a post on X, follows a series of shareholder approvals and strategic moves aimed at positioning the company as a leader in Bitcoin adoption and management. In it, Metaplanet stated that its new business line will focus on purchasing, holding, and managing the crypto asset through various financial instruments, including loans, equity issuances, and convertible bonds. The document also reveals Bitcoin purchases and accumulation will be conducted with BTC Yield as the primary performance metric. Metaplanet will also continue generating premium income from Bitcoin put option sales, which capitalize on the asset’s volatility to drive revenue. Furthermore, its exclusive license for Bitcoin Magazine Japan will be used to create new revenue streams through BTC-related marketing activities and educational initiatives. By combining these efforts, the investment firm is seeking to solidify its role as Japan’s leading Bitcoin treasury company and a pioneer in the country’s crypto ecosystem. It emphasized that the new business model will complement its existing hotel operations, with both areas serving as core pillars of the firm’s growth strategy. Financial Achievements The Tokyo-based company is on track to achieve its first consolidated operating profit in seven years, just months after adding BTC to its balance sheet. In a separate disclosure on December 18, it projected revenue of 890 million yen ($5.8 million) for the fiscal year ending December 31, a significant jump from the 261 million yen reported the previous year. A major portion of this revenue, 520 million yen ($3.4 million), came from selling Bitcoin put options. Additionally, the investment firm reported unrealized gains of approximately 7.446 billion yen ($48.6 million) on its BTC holdings. Since pivoting to the number one cryptocurrency as a treasury asset in April 2024 to hedge against the weakening yen, Metaplanet has actively pursued several capital-raising efforts to support its acquisition strategy. These include securing $66 million through its 11th stock acquisition rights exercise in October, raising $11.3 million via bond issuance in early November, and obtaining $62 million through its 12th stock acquisition rights later that month. Most recently, on December 16, it issued a fourth bond worth nearly 4.5 billion yen ($30 million) and announced plans for an additional 5 billion yen in private placement bonds. As of today, Metaplanet holds 1,018 BTC , valued at approximately $118 million, according to BitcoinTreasuries. The post Metaplanet Establishes Bitcoin Treasury Operations as Official Business Line appeared first on CryptoPotato .
Shiba Inu tumbles in last few weeks, but there's still potential for reversal
Bitwise has made a significant entry into the European crypto market with its new Solana staking ETP, BSOL, promising attractive rewards and competitive fees. This launch comes amid ongoing regulatory
The post Key Reasons Why Bitcoin Price Is Down? appeared first on Coinpedia Fintech News After reaching a record high of $108,000 , Bitcoin’s price has sharply declined, leaving investors questioning the reasons behind this sudden drop. While the earlier surge brought excitement to the market, several factors are now contributing to the downward trend. Meanwhile, if Bitcoin fails to break above the resistance level, it could potentially drop further to $95,000. Fed’s Interest Rate Decision One major reason for Bitcoin’s drop is the upcoming interest rate decision by the U.S. Federal Reserve. However, Coinpedia news reported that there’s a 96% chance that the Fed is expected to lower rates by 25 basis points, but concerns remain about how it plans to handle inflation moving forward. With inflation rising to 2.8% in November, Fed Chair Jerome Powell’s comments on the 2025 rate outlook are under scrutiny. If the Fed cuts lower rates in 2025 than expected, it could add immense pressure to the market. Traders Cash In Their Profits Another key factor is the wave of selling by short-term Bitcoin holders. Many traders who bought Bitcoin recently are now selling to secure their profits after the big rally. This kind of selling is common after prices reach new highs. However, long-term holders, who bought when Bitcoin was trading between $90,000 and $100,000, are mostly staying inactive, possibly waiting for more stable conditions before making any moves. History Shows Corrections Are Normal Bitcoin’s past price cycles show that corrections are a normal part of its growth. During previous all-time highs, Bitcoin often saw pullbacks of up to 34%. These short-term drops can wipe out weeks of gains but are considered a natural part of the market’s behavior. Analysts believe this correction might take Bitcoin below $100,000 temporarily before it stabilizes again. Bitcoin To Drop $95K As of now, bitcoin is trading around $ 104k marking a 2.93% decline over the past 24 hours. However, for Bitcoin to maintain its upward momentum, it needs to turn this new price peak into a solid support level. If successful, it could potentially push the price past the much-anticipated $110,000 mark. However, if Bitcoin fails to break and hold above this resistance, the price could face a drop and Bitcoin might retreat toward its next key support level at $95,651.
The post Solana Struggles Below $215: Is It Going To Recover? appeared first on Coinpedia Fintech News Solana rose by 67% in just 17 days as the bull rally started on October 10 this year. However, as it hit the peak at $263, it initially took a sideways path followed by a downturn. SOL is one of the cryptos that could rally literally; however, the sudden shift in momentum caused the community to talk. Is it the start of a downturn for the fifth biggest crypto or is there something we are missing? Solana On a Roller Coaster Solana hit $263 on November 22 but then dipped to $203 last week. Since October 10, it had been in an upward parallel channel with some up spikes. It tried crossing the ATH a few times but failed which pushed it down to the parallel channel again. Initially it looked like the channel was going to hold the price but soon it fell out from the bottom, hitting $203. Source : Tradingview This movement drove it under all the moving averages and now they are the active resistance. We even witnessed the death cross over on December 11 on a 4 hour chart. Even the RSI at 43 gives a signal about lack of momentum. However the trading volume is up by almost 39% as compared to the last 24 hours. What’s the Next Target for Solana? Solana’s next big target is $300. But first, it needs to break through resistance levels at $222 and will have to fight its way to $263. Easier said than done. Right now, the price sits at $215.32, and interest is growing, with open interest rising by 2.25% to $5.34 billion. Investors are closely watching these key price points to see where Solana heads next. New Staking Opportunities for Solana Investors On the investment side, Bitwise launched a Solana Staking ETP (BSOL) in Europe. This new product is designed to address the previous lack of staking rewards from Bitwise’s Solana ETP, ESOL. BSOL offers a staking reward rate of 6.48%, which is higher than the 5.49% from 21Shares. While things are moving slower in the US, Bitwise has filed for a spot Solana ETF, though approval is still up in the air. What’s Next for Solana? Right now, Solana’s price is in a bit of a struggle. Some analysts believe it could retest the $203 support level before bouncing back. It’s a tough spot, but there’s still potential for growth. There are fewer moments in crypto when some solid crypto starts moving down during a rally. However, it might be a signal of building momentum and the price can surprise the community with a sudden spike.
VYUG Metaverse is successfully conducting the most happening Web3 and Blockchain tour in India. Wrapping the inaugural event in Lucknow with flying colors, the VYUG Fest India will now move to southern Derby to conduct its next event in Vijayawada, Andhra Pradesh. The Most Exciting Debut in the Imperial City The imperial city of Lucknow witnessed a shining fair of blockchain and web3 innovations on the 8th of December, 2024. This day marked VYUG’s launch of a global event series aimed at revolutionizing the Metaverse, Web3, and Blockchain landscape. The inaugural event under the VYUG Fest India banner was a grand success, drawing over 300+ enthusiastic attendees, 15+ speakers, and leaders from the blockchain and other finance domains. Not only this, many young entrepreneurs, and media individuals also attended this event, enhancing the roar of the show. Apart from this, the VFI event in Lucknow consisted of an array of engaging activities, including food stalls, merchandise displays, and captivating art performances. New Era of Web3 and Blockchain The success of the Lucknow event has set a high standard for what is to come. For the blockchain and marketing communities, VFI brought in a chance to witness VYUG’s potential in the market and many other features that showcase the biggest opportunities in the blockchain ecosystem. Talking about the Web3 innovations, VYUG unveiled Alpha Version 0.44.1 and V1 Turbo, two of the most immersive virtual launches. What’s Next: Meeting You in Vijayawada VYUG Fest India is excited to continue this journey with its next destination in Vijayawada, Andhra Pradesh. VFI Vijayawada is a 2-day event on 23-24 January 2025 , promising to be more impactful, with a lineup of thought-provoking discussions, innovative showcases, and ample networking opportunities. Featuring VYUG Plaython: Most Exciting Hackathon The Vijayawada event will also feature VYUG’s special Hackathon program. This hackathon will be the perfect stage where developers, students, and many other young individuals will be able to meet up, collaborate, present new tech models, generate ideas, showcase development skills or projects, and much more. This event will feature Mainstream collaboration Opportunities, Exciting Meet-ups, Amazing Perks, and much more. Furthermore, the highlights of this 2-day event would also include expert-developing interactions, game development, web3 and blockchain sessions, project presentations, and interactive networking. Join us at Vijayawada on 23-24 January. VYUG Invites the people of India on its revolutionary Fest. Be part of the VYUG Fest India to experience the ultimate potential of new technologies that can make India a Global Superpower by 2047. Join a fest filled with events across cities, which make you learn, interact, build, grow, and enjoy! For more updates, stay tuned to the VFI page and VYUG’s official Twitter, Instagram, and other handles. Event Details Date: January 23-24, 2025 Location: Vijayawada, Andhra Pradesh Book Your Tickets: Book Now Hurry Up! Register Yourself and Secure your Spot Now before it’s Too Late!
The Lido community has voted to end staking services on Polygon, due to significant challenges that has limited adoption. Lido Shuts Down Polygon Staking Lido Finance has announced it will be effectively discontinuing its staking service on Polygon. According to a Dec. 16 blogpost, the decision was reached after an extensive decentralized autonomous organization (DAO)
A newly uncovered public document reveals that the Bitcoin Policy Institute, a research and advocacy group in the United States, has drafted an executive order that aims to designate Bitcoin as a strategic reserve asset . This proposed order is designed to take effect immediately upon being signed by President-elect Donald Trump on his first day in office. New Draft Calls for Bitcoin Acquisition Through Treasury’s ESF According to the draft , as global finance increasingly integrates digital assets, the United States must adapt its financial strategies to maintain its stability and leadership in the global economy. The document characterizes Bitcoin as a decentralized, finite store-of-value asset, comparable to digital gold, which could enhance the resilience of the US dollar and support American economic interests. If enacted, the executive order would designate Bitcoin as a suitable asset for acquisition within the Treasury Department’s Exchange Stabilization Fund (ESF), establishing a Strategic Bitcoin Reserve as a permanent national asset for the benefit of all Americans. The draft emphasizes the importance of creating a Bitcoin reserve to bolster the US economy and secure American financial dominance in the years to come. By designating Bitcoin as a strategic asset held by the government, the proposal aims to diversify the assets within the ESF, thereby safeguarding national economic security and ensuring a competitive advantage in the 21st century. Furthermore, it seeks to position the US as a global leader in the digital assets industry, attracting capital, talent, and sound businesses to thrive within its borders. To enhance confidence in this initiative, the draft outlines that the Strategic Bitcoin Reserve would be administered by the Secretary of the Treasury, with provisions for regular audits, security standards, and reporting measures. Within seven days of the order being signed, any BTC held by federal agencies, including the US Marshals Service, would be prohibited from being sold or encumbered. Instead, it would be transferred to the strategic reserve upon acquisition of legal title. Additionally, the draft instructs the Secretary of the Treasury to implement an acquisition program for Bitcoin within 60 days of the order’s signing. This would facilitate the management and procurement of Bitcoin under the ESF. Trump’s Potential Day-One Executive Order While this document represents only a draft and neither Trump nor members of the upcoming administration have publicly commented on it, interest in such measures has been growing in recent days. Notably, Jack Mallers, founder and CEO of Strike, recently indicated that Trump is considering a day-one executive order to establish a Strategic Bitcoin Reserve. During an interview, Mallers stated, “I also know that Trump is looking at a day one executive order.” His remarks prompted discussions about the potential implications of such an order, particularly in the context of the Dollar Stabilization Act, which could grant the president broad authority to protect the dollar. Trump’s recent statements have further fueled speculation surrounding the establishment of a Bitcoin reserve. In a speech at the New York Stock Exchange, he remarked, “We’re gonna do something great with crypto,” and when asked about the possibility of the U.S. creating a reserve akin to its oil reserves, he replied, “Yes, I think so.” At the time of writing, BTC is consolidating at the $104,000 level, down 2.5% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
As Ethereum attempts to rally alongside Bitcoin, the asset appears to have been spotlighted as analysts assess its fundamentals to grasp what is ongoing behind the scenes. A key factor influencing ETH’s price so far, according to the latest analysis, is the relationship between net flows on spot exchanges and investor behaviour. Net flows measure the balance between Ethereum entering and exiting exchanges, providing a critical indicator of potential price trends. Related Reading: Ethereum May Retest $3,700 Before a Major Rally, Analyst Predicts Net Outflows And Conditions For Ethereum Price Growth Notably, net outflows typically signal bullish sentiment as investors transfer their ETH to cold wallets, reducing selling pressure on the market. In contrast, an increase in net inflows often reflects readiness to sell, which can create downward pressure. According to CryptoQuant analyst cryptoavails, these patterns in Ethereum’s net flow data have played a notable role in past price cycles. For example, in early 2022, when Ethereum’s price dropped from $4,000 to $1,000, net inflows were dominant, indicating heightened selling activity. However, the trend reversed in July 2022, with net outflows supporting Ethereum’s gradual price recovery. For Ethereum to maintain an upward trend, the analyst highlights that sustained net outflows are essential. When ETH is withdrawn from exchanges, the circulation tightens, reducing selling pressure. This supply-demand imbalance can favor higher prices as investor confidence grows. Particularly, a steady pattern of net outflows signals that investors are holding Ethereum long-term, suggesting an environment for price appreciation. However, cryptoavails mentioned that Ethereum’s growth momentum remains sensitive to sudden market shifts. A significant influx of ETH back onto exchanges could increase selling pressure, leading to short-term corrections. The analyst wrote: This dynamic supports upward pressure on the price. However, sustainability is crucial—sudden net inflows can lead to short-term selling pressure, weakening the trend. What This Means For The Altcoin Market Ethereum’s performance holds broader implications for the altcoin market. As a leading altcoin in cryptocurrency, its movements often set the tone for altcoin trends. According to the CryptoQuant analyst, a strong Ethereum rally supported by consistent net outflows can ignite an “altcoin season,” where altcoins experience significant price gains following Ethereum’s upward trajectory. Related Reading: Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next During such periods, investor sentiment shifts positively across the broader crypto market, driving demand for smaller-cap assets. cryptoavails concluded: Ethereum’s strong performance is essential for the anticipated altcoin season. ETH’s movements will significantly influence the future performance of altcoins. Thus, Ethereum’s net flow data on spot exchanges is a critical indicator that investors should closely monitor. Featured image created with DALL-E, Chart from TradingView