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Coin Center warns US policies could scare away crypto investors despite Trump win;
Non-profit crypto advocacy group Coin Center has warned that even though a Trump win is a net positive for the crypto industry, entrenched policies could still scare crypto innovators away from the United States.
In a Nov. 21 blog post analyzing the landscape of US crypto policy following the 2024 election, Coin Center’s research director Van Valkenburgh shared three “grave threats†to the crypto users and developers in the US heading into 2025.
All three threats are described broadly as “surveillance issues†and range from tax reporting and anti-money laundering (AML) policy to the ongoing criminal proceedings involving the crypto mixer Tornado Cash and Bitcoin wallet service Samourai Wallet.
The first major threat comes from the crypto reporting requirements under Section 6050I of the US tax code which currently mandates warrantless reporting to the IRS for those who have received $10,000 in crypto.
In August last year, Coin Center argued that these reporting requirements are unconstitutional.
The second and third major threats stem from the sanctions placed on Tornado Cash and include the criminal charges for unlicensed money transmission brought against the mixing service and Samourai Wallet.
Coin Center says the charges brought against Tornado Cash founder Roman Storm could set a worrying precedent for developers on non-custodial crypto services.
“At the agency level, there’s reason to believe that controversial ongoing rulemakings will be frozen or even abandoned due to President Trump’s generally pro-crypto stance and his likely choices for appointees at the SEC and Treasury.â€
However, Valkenburgh wrote that the new administration may not be interested in scaling back “overzealous†sanctions and AML policies.
"The [Department of Justice] may change under a Trump administration, but it rightly guards its political independence and may therefore be unlikely to abandon these prosecutions because of a change in administration," Valkenburgh said.
“We’re nonetheless hopeful that there can be progress here if it becomes increasingly clear that even with a friendlier SEC, draconian surveillance and control policies will continue to drive innovators away from the US, chill development, and deny ordinary Americans the benefits of these technologies.â€
Valkenburgh added that the ongoing measures to prevent people from accessing crypto services do "very little to actually prevent criminals and terrorists" from using the tools.
Shanghai Court’s Legal Verdict: Crypto Now Permitted in China?
Key Points
-A Shanghai court has confirmed that personal ownership of cryptocurrencies is legal in China.
-This legal clarification coincides with a significant surge in Bitcoin’s price.
A Shanghai court has recently made a landmark decision, ruling that personal ownership of cryptocurrencies does not violate any Chinese law.
This unexpected legal clarification has provided much-needed assurance for crypto holders in mainland China, marking a shift in the country’s stance on digital assets.
Bitcoin’s Price Surge
This announcement interestingly coincided with an extraordinary surge in the price of Bitcoin, which is approaching the $100K mark and fueling ongoing speculations.
Judge Sun Jie’s Statement
Judge Sun Jie of the Shanghai Songjiang People’s Court has provided much-needed legal clarity for cryptocurrency holders in mainland China.
In a statement published on the Shanghai High People’s Court’s official WeChat account, Sun confirmed that it is not illegal for individuals to hold cryptocurrency.
Despite the ongoing ban on cryptocurrency transactions that was imposed in 2021, this ruling offered a significant legal distinction.
This highlighted that personal possession of digital assets does not violate Chinese law, even as regulatory restrictions on crypto trading remain in place.
Sun explained the difference between owning and transacting in cryptocurrencies, emphasizing a high-pressure crackdown on speculative activities in cryptocurrency trading.
This clarification was made during a case review involving a legal dispute between two companies over an ICO, which remains prohibited in China, alongside cryptocurrency mining.
China’s Crypto History
In 2021, China’s government imposed a ban on cryptocurrency trading and Bitcoin mining following a surge in BTC’s price to $64,000, which led to a market correction with Bitcoin dropping to $30,000.
Despite this, Chinese citizens continued holding cryptocurrencies, using foreign exchanges to buy and sell.
Many speculate that China’s recent move may be a response to former President Donald Trump’s push to establish the U.S. as a global crypto hub.
However, it’s important to note that China’s dominance in the cryptocurrency space remains unquestionable.
China still controls over 50% of the global Bitcoin hash rate, dominating mining operations.
Moreover, Chinese investors are finding alternative ways to engage in crypto, prompting questions about China’s long-term strategy.
Hence, former Vice Minister of Finance Zhu Guangyao’s recent call for the government to reassess its stance on cryptocurrencies. This reflected the complexities surrounding China’s position as global trends and policies evolve.
Clarification on Legal Stance
Eliézer Ndinga, Vice President at 21Shares, clarified that the legal stance in China has remained consistent.
While individuals have always been allowed to hold cryptocurrencies, commercial crypto activities, including trading and mining, have been prohibited for some time.
He put it best when he said, “China has nothing like the Executive Order 6102, which forbid holding gold in 1933 in the US.â€
How Top Cryptocurrencies Are Powering NFTs in Unprecedented Ways;
Cryptocurrencies are emerging as new players in the field of digital finance and non-fungible tokens (NFTs) are changing the usual investment patterns. A new market study for writing shows that it has become a virtual web that is changing the meaning of digital assets, ownership and calls for technologies.
Ethereum(ETH): The Revolutionary Pioneer of NFT Ecosystems
Today, Ethereum (ETH) already can be credited as the behind-the-scenes rail infrastructure of the NFT industry. It also uses smart contract technology that allows anyone to mint and trade an NFT with ease. Since Ethereum was the first blockchain to incorporate NFTs, developers, and artists get the reliability of its platforms unsurpassed by any other blockchain.
Solana(SOL): The Superior Choice for Speed and Cost-Effectiveness
Ethereum has been phenomenal, but Solana (SOL) has come out as a center-stage competitor, especially for NFTs, especially when high charges on Ethereum cut off creators. This makes it highly flexible; it can achieve superior transaction throughput that can handle thousands of transactions per second at a relatively small transaction cost. Thus, Solana’s organic solution makes it the first choice for next-generation NFT marketplaces that want to scale up while maintaining efficiency.
Binance Coin(BNB): The Elite Enabler for Multi-Utility NFT Platforms
Binance Smart Chain is fully coupled with Binance Coin (BNB), offering unparalleled utility for NFT development and trade. Due to its low charges and highly effective integration with many applications, it is the best for dynamic markets. BNB stands by developers in creating highly profitable and unique NFT applications in gaming, collecting, and arts.
XRP(XRP): The Remarkable Bridge for Global NFT Payments
Ripple (XRP) brings a different angle to NFTs because of its emphasis on the ability to conduct cross-border transactions. Owing to the unique payment facilitation technology built into XRP, the uppity asset can transform the process of buying and selling NFTs globally. Although not as dominant as other entrants in the NFT creation sphere, its ability to enable cross-border transfers makes it an exciting player in digital asset transfers.
Tether (USDT): The Stable Powerhouse of NFT Transactions
Interestingly, NFTs’ most significant partner is Tether (USDT) which helps stabilize the prices for these assets. Its incredible value stability enables consumers and producers to avoid the price swings characteristic of the rest of the cryptocurrencies. As a result, USDT is necessary for traders willing to interact with NFTs without the risk of losing large amounts, so it is highly profitable for investors.
JPMorgan Pays $40B in Fines Amid Legal Turmoil;
JPMorgan Chase has now paid more than $40 billion in total fines and settlements to regulators, enforcement agencies and lawsuits related to anti-competitive practices, securities abuses and other violations.
That’s according to new numbers from the public Violation Tracker, a corporate misconduct database that tracks cases from the year 2000 until now.
In the last seven quarters alone, JPMorgan Chase has paid a whopping $2 billion to settle a list of accusations against the banking giant, reports Wall Street on Parade.
The bank has paid the sum to settle accusations of criminal misconduct, regulatory violations, market manipulation and alleged involvement in enabling Jeffrey Epstein’s sex trafficking activities, among other alleged legal and ethical breaches.
Late last month, JPMorgan wrapped up five settlements at once with the US regulators, paying $151 million to settle allegations include misleading disclosures, breaches of fiduciary duty and prohibited trades.
After the flurry of settlements, JPMorgan Chase says in new regulatory filings that it’s now facing “several hundred†open legal cases.
The cases involve a mix of government actions, such as those brought by regulators like the SEC or the Department of Justice, as well as private lawsuits such as class actions.
JPMorgan Chase says it generated $49.55 billion in profit in 2023.
SEC Commissioner Lizárraga Announces Departure From Agency;
Key Points:
-SEC Commissioner Lizárraga plans to leave in January after Gensler’s departure.
-Lizárraga emphasized family priorities and his commitment to investor protection during his tenure.
SEC Commissioner Lizárraga announces plans to leave in January after Gensler’s exit, focusing on family and reflecting on his contributions to financial regulation.
SEC Commissioner Lizárraga Announces January Departure
In announcing his departure from the commission next month due to personal and family reasons, SEC Commissioner Jaime Lizárraga offered a glimpse into the key driver behind his resignation. He told of his wife’s long and difficult fight with breast cancer, an issue he has spoken very emotionally about. Lizárraga expressed his gratitude to President Biden and all of his colleagues for all of the support he has been given.
He joined the office in rapid succession following the announcement of the chairman, Gary Gensler, of his resignation development that had left Commissioner Caroline Crenshaw as the only democrat in the commission’s leadership. During his time, Lizárraga seemed an avid protectionist of everyday investors and a vocal critic of market transparency issues, especially on digital assets, according to The Block.
Lizárraga Reflects on SEC Contributions Before Exit
Ahead of his departure in January, Jaime Lizárraga sat down to discuss the impact he’s made since coming to the SEC. A strong proponent of investor protection and fair markets, Lizárraga teamed up with Chair Gensler on several of the big efforts, including policies pertaining to crypto market transparency and volatility. He emphasized the need for the protection of Americans from financial risks, especially in this emerging digital asset sector.
Lizárraga has latterly cited the crypto winter of 2022 and the fall of FTX as differing lessons that inform this approach. His guidance has keenly been cast on the need for solid regulations in the wild digital frontier of assets. His exit, therefore, is draped in the legacy of a commitment to regulatory clarity and policymaking with investors at the heart.
Bitcoin Dominance Spikes as $100K Looms! Moon or Pullback?
Bitcoin’s unstoppable rally has the market buzzing. On November 21, BTC shot up to $97,765, an eye-popping 45% gain in just 16 days. It’s now hovering at $97,154, but all eyes are locked on one thing: the $100K milestone. Can it break through, or will resistance hold it back?
Why Bitcoin Is Exploding Right Now
There are many reasons. Since Donald Trump’s re-election, Bitcoin has added over $28,000 to its value, more than tripling from $28,000 a year ago. Its dominance has hit 61.5%—the highest since 2021—lifting the entire crypto market cap to an insane $3.28 trillion. These are massive numbers, right?
Then there’s the whale activity. Just recently, a big player snagged 3,289 BTC worth $300 million. BlackRock’s Bitcoin ETF isn’t sitting still either—it saw $628 million in inflows on the same day. These moves are a big deal, tightening the already scarce supply of Bitcoin.
The Big $100K Question
Now, here’s where it gets tricky. Bitcoin is just ~2% away from hitting six figures, but resistance is piling up. Sell walls between $98,000 and $100,000 are making it tough to push higher. Plus, overbought signals are flashing red. The RSI, a key momentum indicator, is at 81.01 on the daily chart— Isn't this the level where pullbacks often happen?
Nate Geraci from the ETF Store put it perfectly: “There’s only so much to go around.†The launch of two Spot Bitcoin ETF Options, all these things add support for Bitcoin to rise.
Still, community hopes are high and people are ready to see BTC at $100,000. Charles Edwards from Capriole Fund thinks a $100K breakthrough could trigger what he calls a “teleportation phase.†Prices might shoot up even faster once retail investors jump in, chasing the hype.
What’s Next?
Here’s the bottom line: Bitcoin is at a make-or-break point. If it clears $100K, the sky’s the limit. But don’t forget, whales are lurking, and short-term corrections are possible. For now, keep an eye on $98,000—it’s the battleground for what happens next. One thing’s for sure: the excitement isn’t slowing down anytime soon.
BlackRock’s Bitcoin ETF Options Debut with $2 Billion Exposure;
BlackRock's Bitcoin ETF (IBIT) options launched with unprecedented success, amassing nearly $2 billion in notional exposure on their first day. Analysts highlighted the trading of 354,000 contracts, with a call-to-put ratio of 4.4:1, attributing this surge to Bitcoin’s recent rally to all-time highs.
The introduction of IBIT options marks a pivotal moment for institutional adoption of Bitcoin, providing regulated avenues for hedging, speculation, and passive income generation.
Options allow traders to buy (calls) or sell (puts) Bitcoin at predetermined prices, enabling sophisticated trading strategies and attracting institutional players wary of unregulated platforms.
With more spot Bitcoin ETF options anticipated, the market is poised for increased liquidity and structural evolution. Analysts suggest that widespread use of IBIT options may reduce long-term volatility while fueling demand for calls during bull markets. This demand could trigger short-term price spikes, akin to a “gamma squeeze†seen in other markets.
The launch not only diversifies trading opportunities but also underscores Bitcoin’s growing legitimacy as an asset class. Institutional participation is expected to expand, reshaping market dynamics and signaling broader acceptance of cryptocurrencies in mainstream finance.
Cardano (ADA) And Ripple (XRP) Whales Dump $5 Million To Buy Into The WallitIQ (WLTQ) Presale;
Cardano (ADA) and Ripple (XRP) whales are reallocating their funds to promising assets with high growth potential. The Cardano (ADA) and Ripple (XRP) whales recently shifted a substantial $5 million investment into the WallitIQ (WLTQ) presale, signaling strong interest from these influential holders.
WallitIQ (WLTQ): The Next Evolution in Wallet Technology
WallitIQ (WLTQ) is setting a new standard for security and usability in decentralized finance (DeFi). Designed to address the growing needs of crypto investors, the platform offers advanced biometric and facial authentication, creating a highly secure environment that appeals to whales accustomed to traditional financial protections.
One of WallitIQ’s standout features is its streamlined user experience, powered by AI-driven behavioral analysis tools. This feature assures that Cardano (ADA) whales and Ripple (XRP) whales can surf the platform effortlessly.
Additionally, WallitIQ (WLTQ) offers users the ability to stake their native tokens, providing passive income while improving platform security and stability. This staking mechanism is especially appealing to long-term investors looking to maximize returns on their holdings with an offer of 180% in APY.
User convenience is a priority on WallitIQ, with functionalities like the Scan and Pay QR feature that simplifies transactions through QR codes. Its personalized wallet functionalities make it easy for Cardano (ADA) and Ripple (XRP) whales, as well as everyday users, to explore staking, yield farming, and liquidity provision options.
With AI-driven suggestions based on market trends and individual preferences, WallitIQ (WLTQ) ensures users can make the most of DeFi opportunities without the technical hurdles. The platform’s Push Protocol technology is another major draw for whales, providing real-time on-chain notifications. This keeps Cardano (ADA) and Ripple (XRP) whales informed on all activity within their wallets, empowering them to make timely decisions.
WallitIQ (WLTQ) also incorporates an AI-powered chatbot that provides quick answers to user queries, further simplifying DeFi interactions. Following a successful CoinMarketCap listing and a security audit by SolidProof, WallitIQ has proven its commitment to security and transparency.
Currently, WallitIQ’s (WLTQ) presale offers an attractive entry point, with tokens available at just $0.0171. Cardano (ADA) and Ripple (XRP) whales are among those seizing the opportunity presented by the presale, recognizing the WallitIQ (WLTQ) token as a solid investment in the evolving crypto market.
Cardano (ADA): Initial Success and Whale Interest
Cardano (ADA) has been a popular choice among whales since its launch, due to its scalability and environmental focus. Initially priced at around $0.02, Cardano (ADA)quickly gained traction and saw substantial trading volumes during its peak.
However, while Cardano continues to be a valuable asset, some Cardano (ADA) whales are looking for new opportunities to diversify their holdings, especially as the DeFi landscape expands.
The shift of $5 million into the WallitIQ (WLTQ) presale from these Cardano (ADA) whales reflects a strategic move toward platforms offering innovative solutions like WallitIQ (WLTQ).
Ripple (XRP): Regulatory Challenges Prompt New Investment Strategies
Ripple (XRP) has long been a preferred asset for whales due to its efficient cross-border payment capabilities and strong market presence. Despite this, Ripple (XRP) has faced limitations due to the ongoing SEC lawsuit, which has affected its market growth and raised regulatory concerns for Ripple (XRP) whales.
With uncertainty looming, many Ripple (XRP) whales are diversifying their portfolios to reduce risk, and the WallitIQ (WLTQ) presale has emerged as a favorable choice. WallitIQ’s (WLTQ) presale, offering a fair price and solid security foundation, provides a new avenue for Ripple (XRP) whales seeking growth outside the constraints of regulatory issues.
Conclusion
The substantial investment by Cardano (ADA) whales and Ripple (XRP) whales in the WallitIQ (WLTQ) presale underscores the growing demand for innovative DeFi solutions. With its advanced security, personalized functionalities, and real-time on-chain notifications, WallitIQ (WLTQ) presents a highly appealing option for large investors. For those seeking to join these crypto heavyweights, the WallitIQ (WLTQ) presale presents a rare chance to invest early in a platform that’s capturing the attention of major players in the market.
SEC Pays $4.6 Million to Bitclave Victims, Ripple Supporters Ask, ‘What About XRP?’
The U.S. Securities and Exchange Commission (SEC) announced on Nov. 20 that it has distributed $4.6 million in restitution to investors affected by the 2017 ICO of BitClave, an Ethereum-based search engine. This payout is part of a settlement the company reached with the SEC in 2020 after being charged for failing to register its ICO as a securities offering.
Taking to social media, the official SEC handle wrote, “The checks are in the mail. We are sending out more than $4.6M to investors harmed by BitClave, PTE Ltd.’s unregistered ICO of digital asset securities. After a notice & claims process, investors will now be receiving their share of the BitClave Fair Fund.â€
BitClave's 2017 ICO raised $25.5 million in just 32 seconds, attracting thousands of investors. In 2020, under then-SEC Chairman Jay Clayton, the SEC sued BitClave, alleging that the sale of its Consumer Activity Token (CAT) violated federal securities laws.
Although BitClave did not admit to any wrongdoing, it agreed to forfeit the funds raised in the ICO, pay an additional $4 million in penalties and interest, and destroy unsold CAT tokens. The company also requested that exchanges delist the token as part of the settlement.
XRP users have expressed frustration, asking when it's their turn for compensation. For those unfamiliar, the SEC filed a lawsuit against Ripple in 2020, and the case is still ongoing. Many experts believe that the lawsuit has contributed to a significant drop in XRP's price. However, XRP is now trading above the $1 mark, largely due to support from pro-crypto President-elect Trump, who has promised to fire SEC Chair Gary Gensler on his first day in office, offering hope to the XRP community.
Bitcoin hit $95,000: heading to $100k price target
Bitcoin, the world’s largest cryptocurrency, hit a new all-time high of $95,672 on Wednesday after its price rose to 3.55% in the past 24 hours.
For the first time, on Nov. 20, Bitcoin reached the new highest price level of $95,000; the next target is $100k. The price surged to 42% from $67,400 a month and rose triple digits to 154% in a year.
U.S. election still became the biggest support for the price movement since Donald Trump won and has a vision for better crypto regulations. He also picked several names as his secretary and identified them as pro-crypto personalities, including Elon Musk and Robert. F. Kennedy Jr.
Bitcoin ETF trading options also boost crypto prices due to the high level of market interest in the crypto-related product. On Tuesday, BlackRock’s iShares Bitcoin Trust (IBIT) hit notional exposure of up to $1.9 billion.
Another trading option will released on Nov. 21, including Bitwise (BITB), Grayscale (GBTC), and the mini trust version (BTC).
Bitcoin price $100k is on the market eye
Michael Saylor, executive chairman of MicroStrategy, in an interview with CNBC on Nov. 14, stated that he is already planning for the New Year’s Eve party to celebrate the $100k price before the end of the year.
“I think it’s going to go up from here. I’m planning the $100,000 party and I’m thinking it’s probably going to be New Year’s Eve at my house. So I would be surprised if we don’t go through $100,000 in November or December,†said Saylor.
Beyond the $100k price target, Bernstein Research has an ambitious bullish target for price in 2025 by $200k. This projection has been updated from $150k due to the rise in institutional demand in many places.
SUI Hits $100B Trading Volume: SUI price to Hit $24 by Mid-2025?
SUI hit a heights in trading volume recording $180 Billion in November, the highest in its trading history. This is also a significant milestone for the cryptocurrency.
This surge in volume marked a massive increase, cumulatively adding over $141 Billion to its yearly total. Since May, SUI has shown consistent growth in trading activity month-over-month, with each successive month outperforming the last.
Since May 2023, trading volumes was relatively modest. Also, there has been a clear bullish trend in market engagement.
By mid-year, trading volumes began to pick up significantly, reflecting growing investor interest and confidence in SUI. Each subsequent month saw higher volumes, culminating in the record-breaking spike in November.
This trajectory highlighted the SUI’s increasing relevance. The steep rise in November surpassed previous monthly figures substantially and set a new standard for trading activity.
This record performance suggested a strong end-of-year rally for SUI, with heightened market participation and potential for continued growth.
Solana, Sui Network fractal
The recent trading patterns for SUI suggested a fractal alignment with historical Solana (SOL) price movements, highlighting a potential path for SUI to reach $24 by mid-2025.
Solana’s rise is depicted through its surge following a decisive 100/200-day moving average crossover. SUI has recently mirrored this move.
SUI’s current trajectory on the daily chart shows a similar explosive uptrend, similar to that of Solnana’s recent trend.
Solana’s chart from early 2021 showed the price action that followed the moving average crossover led to repeated new highs.
If SUI continues to replicate this pattern, the projection sees SUI reaching the $24 mark by 2025.
The similarity rests in the moving averages as well as the price support and resistance levels.
As Solana once moved sharply from a consolidation phase to peak levels, SUI’s current consolidation just above the recent moving average crossover suggests a buildup for a similar bullish run.
SUI Price Outperforms SOL by Gains as Lending Protocols on Ecosystem Grow
Sui’s market performance continued to mirror Solana’s early days, albeit with more substantial market capitalization and quicker growth in Total Value Locked (TVL).
Notably, Sui’s TVL grew more rapidly; where Solana’s TVL was just under $150 Million at a similar stage, Sui’s TVL has skyrocketed to $1.6 Billion.
In terms of market cap SUI outshines $10 Billion, dwarfing Solana’s Q1 2021 market cap of $2.3 Billion. During early 2021, Solana’s value increased as Bitcoin’s dominance dropped by 10%.
Contrastingly, Sui’s price rose from $1 to $3.9 even as Bitcoin’s dominance increased by 5%. This suggested that Sui could surge dramatically once Bitcoin’s dominance begins to decline.
Additionally, there was divergence from market dynamics. Sui appreciated while Bitcoin dominance rose steadily—a scenario contrasting sharply with Solana’s pump during a decline in Bitcoin’s market share.
Additionally, Sui Network‘s DeFi continued to show growth. SuiLend protocol rapidly ascended to become the largest lending protocol on the network, with a TVL at $384 Million.
Closest competitors like Scallop and Navi TVLs lagged at $192 Million and $353 Million respectively.
The exponential growth in SuiLend’s TVL indicates increasing trust and utilization within the ecosystem. This provides a solid foundation for $SUI’s potential price ascent to $24 by mid-2025.
With SuiLend leading the charge, Sui’s ecosystem has shown resilience and innovation, drawing comparisons to Solana’s trajectory. It is accelerating at a pace that suggests a potentially more aggressive growth curve.
These dynamics provide a strong foundation for predictions of Sui reaching a price target of $24 by mid-2025.
John Deaton Critiques SEC’s Outdated Regulatory Framework;
XRP advocate lawyer John Deaton criticizes the U.S. Securities and Exchange Commission (SEC) for relying on laws established in 1933 to regulate emerging technologies like blockchain, artificial intelligence, and robotics. Deaton emphasizes that the current legal framework fails to account for the real-time information availability brought by the internet and technological advancements.
SEC and Century-Old Laws
Deaton notes that the existing disclosure laws have been in effect for over a century and were designed to address investment information asymmetries. He argues that these laws, created in an era without technologies like the internet, are ill-equipped to adapt to today’s rapid technological changes.
Deaton contends that blockchain companies face significant challenges due to these outdated crypto regulations. He states that the SEC should focus on clear and simple principles to guide the sector. Echoing Michael Saylor’s sentiments, Deaton asserts,
“It’s very simple: just don’t lie, cheat, or steal.†– John Deaton
According to John Deaton, modern investors, including individual participants, already have access to real-time information, thereby diminishing the necessity for the cumbersome disclosure rules implemented in 1933.
Views on New SEC Leadership
Deaton expresses that reformers like Brian Brooks should lead the modernization of the regulatory framework. He criticizes current and former officials for favoring vague regulations that allow selective enforcement.
“Gary Gensler, Jay Clayton, and Bob Stebbins prefer laws and regulations to be ambiguous as road rules. We need reformers like Brian Brooks and Brad Bondi.†– John Deaton
Deaton argues that the new SEC chairman should adopt a technology-focused approach. Ripple CEO Brad Garlinghouse also voiced concerns about Bob Stebbins’ candidacy, citing his past regulatory actions as being misaligned.
Garlinghouse warned that Stebbins’ appointment could lead to the continuation of enforcement-driven policies. Both Deaton and Garlinghouse call for the SEC to adopt a more transparent and clear regulatory approach that supports the blockchain industry.
To ensure sustainable growth of crypto assets, the regulatory framework must be updated to keep pace with technological advancements. Deaton and his supporters emphasize that the SEC needs to develop policies aligned with innovative technologies.
Trump Considers Howard Lutnick for Secretary of Commerce Position;
Howard Lutnick’s role under Donald Trump’s administration is expected to extend beyond the transition team. According to Punchbowl News, Trump is anticipated to announce Lutnick as the next Secretary of Commerce. As the CEO of Cantor Fitzgerald and a supporter of Tether, Lutnick may bring his experience in both crypto and traditional finance to the Commerce Department.
Profile of Howard Lutnick
Positive reports from Punchbowl News and the Wall Street Journal have not yet been officially confirmed. However, Howard Lutnick fits the profile for the position. A long-time friend of Trump, Lutnick has hosted numerous fundraising events for the president.
Earlier reports suggested that Lutnick was a candidate for the U.S. Treasury Secretary. Despite the presence of strong names like Scott Bessent among Treasury candidates, Lutnick is believed to possess the necessary experience for the role.
If speculations are confirmed, Lutnick’s role as Secretary of Commerce will involve representing American businesses in the president’s cabinet. Beyond this, he is poised to contribute significantly to supporting economic growth and development. Lutnick has expressed support for the Department of Government Efficiency (D.O.G.E) idea, which aims to enhance government efficiency and will be led by Elon Musk.
Benefits to the Crypto Ecosystem
Howard Lutnick has managed a business providing custodial services for Tether, known for its controversial adoption by regulators. This background makes the Cantor Fitzgerald CEO valuable to many crypto advocates. His open support for Bitcoin aligns with Trump’s crypto promises, and during his appearance at the 2024 Bitcoin Conference, he envisioned a world where Bitcoin is widely transacted.
With Lutnick’s potential appointment, the industry is now focusing on who Trump will select for the SEC and Treasury Department. Lutnick’s appointment as Secretary of Commerce could merge his experiences in both traditional finance and the crypto sector.
Daily Market Review: BTC, ETH, XTZ, AKT, HBAR
The bears are in control of today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.08T as of press time, representing a 0.52% decrease over the last 24 hours, while the trading volume jumped by 25.6% over the same period to stand at $203.1B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we se that the Bitcoin price is trading above the 50-SMA, 100-SMA, and 200-SMA, indicating a strong bullish trend.
On the other hand, we see that the MFI is at 46.80, which is near neutral. A move above 50 could signal increasing buying pressure. Bitcoin traded at $91,745 as of press time, representing a 0.1% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Ethereum is ranging within the Bollinger Bands, suggesting consolidation. The midline of the bands is holding as dynamic support.
On the other hand, we see that the AO shows declining green bars, signaling weakening bullish momentum. Ethereum traded at $3,119 as of press time, representing a 0.07% decrease over the last 24 hours.
Tezos Price Review
Tezos, XTZ, is among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Tezos recently saw a sharp upward spike but retraced slightly. The price remains above the Ichimoku Cloud, indicating bullish control.
On the other hand, we see that the ADX is at 53.17, indicating strong trend momentum. Tezos traded at $31.13 as of press time, representing a 36.59% increase over the last 24 hours.
Akash Network Price Review
Akash Network, $AKT, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Akash Network has been in a strong uptrend, with the Supertrend indicator signaling bullishness (green).
On the other hand, we see that the RSI is at 70.98, which indicates overbought conditions. A pullback is possible before continuation. Akash Network traded at $4.15 as of press time, representing a 19.81% increase over the last 24 hours.
Hedera Hashgraph Price Review
Hedera, $HBAR, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Hedera Hashgraph is in an uptrend, with the Alligator’s jaws wide open, suggesting continued bullish momentum.
On the other hand, we see that the MFI is at 79.59, indicating overbought conditions. A correction is possible. Hedera traded at $0.1361 as of press time, representing a 17.02% increase over the last 24 hours.
Daily Market Review: BTC, ETH, XTZ, AKT, HBAR
The bears are in control of today’s session, as seen from the decrease in the global market cap. The total cap stood at $3.08T as of press time, representing a 0.52% decrease over the last 24 hours, while the trading volume jumped by 25.6% over the same period to stand at $203.1B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we se that the Bitcoin price is trading above the 50-SMA, 100-SMA, and 200-SMA, indicating a strong bullish trend.
On the other hand, we see that the MFI is at 46.80, which is near neutral. A move above 50 could signal increasing buying pressure. Bitcoin traded at $91,745 as of press time, representing a 0.1% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also not among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Ethereum is ranging within the Bollinger Bands, suggesting consolidation. The midline of the bands is holding as dynamic support.
On the other hand, we see that the AO shows declining green bars, signaling weakening bullish momentum. Ethereum traded at $3,119 as of press time, representing a 0.07% decrease over the last 24 hours.
Tezos Price Review
Tezos, XTZ, is among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Tezos recently saw a sharp upward spike but retraced slightly. The price remains above the Ichimoku Cloud, indicating bullish control.
On the other hand, we see that the ADX is at 53.17, indicating strong trend momentum. Tezos traded at $31.13 as of press time, representing a 36.59% increase over the last 24 hours.
Akash Network Price Review
Akash Network, $AKT, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Akash Network has been in a strong uptrend, with the Supertrend indicator signaling bullishness (green).
On the other hand, we see that the RSI is at 70.98, which indicates overbought conditions. A pullback is possible before continuation. Akash Network traded at $4.15 as of press time, representing a 19.81% increase over the last 24 hours.
Hedera Hashgraph Price Review
Hedera, $HBAR, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Hedera Hashgraph is in an uptrend, with the Alligator’s jaws wide open, suggesting continued bullish momentum.
On the other hand, we see that the MFI is at 79.59, indicating overbought conditions. A correction is possible. Hedera traded at $0.1361 as of press time, representing a 17.02% increase over the last 24 hours.
Solana Overtakes Nike, Starbucks, Sony in Market Cap;
Solana Overtakes Nike, Starbucks, Sony in Market Cap
Solana continues to break barriers with its market cap, user base, and on-chain activity.
Dubbed the "Ethereum Killer" (mainly by Solana fanboys), Solana might be living up to its moniker as Nansen revealed yesterday that it has dethroned Ethereum as the most used chain on its platform.
"Solana is now the #1 most used chain on @nansen_ai . First time in 4+ years it's not Ethereum," Nansen CEO Alex Svanevik tweeted.
This month alone, Solana saw its user base top 6.3 million active addresses, marking a new high while 322,000 new tokens were created on Solana last week as a result of the memecoin craze.
Although SOL is still short of its all-time high of $260, which it achieved in 2021, its current price of $242 marks a 322.50% increase over one year.
With that, its market cap now stands at just shy of $115 billion - larger than the likes of Sony, Starbucks, and Nike.
"A sustained hold above this level would validate Solana’s bullish momentum, while a failure to do so might lead to a consolidation phase, allowing the market to digest gains before the next leg up," BRN analyst Valentin Fournier said.
Solana, which is has emerged as a hotspot for memecoin activity, with its low fees and fast transactions offering fertile ground for tokens like BONK.
Created in late 2022, BONK has become a symbol of Solana’s resilience post-FTX collapse. Its rise is being propelled by community-driven deflationary moves, including a planned burn of 1 trillion tokens by December, aimed at boosting scarcity and value.
BONK led gains with a 97% jump in the past week, recording $2.1 billion in trading volume in the past 24 hours—outpacing rivals like DOGE and SHIB. PEPE followed closely, with its recent addition to Coinbase and Robinhood sparking a 66.35% surge over the past week.
PNUT, a squirrel-themed token on Solana, also saw a 1,200+% gains in the past week, though at $1.58, it is currently 35.25% below its all-time high of $2.44, set on November 14.
Bitcoin Eyes $100K: BCA Research Predicts Record Surge
-BCA Research predicts Bitcoin could exceed $200K, fueled by fractal pattern analysis.
-Bitcoin’s bullish trend continues as its fractal complexity remains high, signaling more growth.
-Bitcoin’s role as digital gold strengthens, driving global demand and financial influence.
Bitcoin is on the verge of a historic milestone. Currently trading at $89,800, the flagship crypto is edging closer to the long-anticipated $100K mark. But analysts at BCA Research believe this is just the beginning. Their latest prediction sees Bitcoin’s value potentially doubling to exceed $200,000. This bold outlook draws from technical analysis and Bitcoin’s growing importance in global finance.
Fractal Patterns Hint at More Gains
BCA Research points to a metric called the “260-day fractal dimension complexity.†This tool tracks patterns in price movements over 260 days. According to analysts, a complexity reading below 1.20 signals the peak of a bullish market. Right now, the reading remains well above that threshold.This suggests Bitcoin’s current rally has plenty of room to grow.
Lower fractal complexity often indicates market stability, while higher readings point to unpredictable trends. Historical data shows that Bitcoin tends to soar when the metric aligns with certain patterns.BCA analysts argue that the current rally is still in its early stages. The technical indicators, coupled with past trends, suggest more significant price surges are on the horizon.
Bitcoin’s Growing Role in Global Finance
Bitcoin is more than just a digital asset. Analysts see it as a vital tool in navigating economic uncertainty. The cryptocurrency’s non-confiscatable nature appeals to those seeking protection against hyperinflation, banking crises, and state interference.
Like gold, Bitcoin thrives as a hedge against instability. The growing belief in its value fuels a network effect, strengthening its role as a reliable store of wealth. With a limited supply and increasing recognition, Bitcoin stands out as a unique alternative to traditional assets.
BCA Research’s prediction of $200,000 reflects more than market speculation. The forecast underscores Bitcoin’s rising influence in the global financial ecosystem. As the cryptocurrency approaches the $100,000 milestone, the potential for even greater achievements looms large.
Coinbase CEO Meets Trump: Crypto's Future in Focus
Coinbase CEO Brian Armstrong is set to meet with President-elect Donald Trump as the latter continues to fill key positions in his incoming administration. The meeting is expected to address personnel appointments, particularly for roles tied to cryptocurrency and financial regulation.
Coinbase CEO To Meet Donald Trump
According to The Wall Street Journal, Coinbase CEO Brian Armstrong will meet privately with Donald Trump to discuss staffing decisions for critical positions. These roles are likely to influence cryptocurrency policy in the United States.
While Armstrong has not donated to Trump’s 2024 presidential campaign or supporting political action committees, he previously stated that Coinbase would be ready to work with a Trump administration.
The meeting comes at a time when Trump is actively shaping his cabinet and administration. Brian Armstrong’s participation aligns with Trump’s reported intention to establish a “Bitcoin and crypto presidential advisory council†within his first 100 days in office. This proposed council would aim to develop regulatory clarity for the digital asset industry including a potential Bitcoin reserve, as per Senator Cynthia Lummis.
Crypto Advocates Included in Trump’s Early Cabinet Picks
Apart from Coinbase CEO Brian Armstrong, Trump has already nominated several individuals with favorable views on cryptocurrencies to key positions. These include Robert F. Kennedy Jr. as Secretary of Health and Human Services, Elon Musk, and Vivek Ramaswamy to lead a proposed “Department of Government Efficiency.†All three figures have expressed support for blockchain and cryptocurrency technologies.
Reports suggest that Howard Lutnick, CEO of Cantor Fitzgerald and a known advocate for Bitcoin, is under consideration for Treasury Secretary.
Lutnick’s firm has provided custody services for Tether, the world’s largest stablecoin, and he has publicly discussed its reserves in U.S. Treasuries, Bitcoin, and gold.
Potential Implications for the SEC Leadership
The leadership of the Securities and Exchange Commission (SEC) is also a topic of interest. Trump has vowed to replace current SEC Chair Gary Gensler on his first day in office. Gensler has faced criticism from the crypto community for his enforcement-driven approach to regulation.
Coinbase has been vocal about the need for clear and fair guidelines for digital assets, making Brian Armstrong’s meeting particularly relevant.
Ripple CEO Brad Garlinghouse and Cardano CEO Charles Hoskinson have reportedly also been in contact with Trump’s transition team regarding cryptocurrency-related appointments. These conversations suggest that the incoming administration actively engages with industry leaders to shape its policies.
Virtune XRP ETP Outperforms Bitcoin;
XRP is making headlines once again, gaining over 156% in less than two weeks. However, what’s interesting is that the Virtune XRP ETP has also outperformed major indices like the OMX Stockholm 30 and even Bitcoin, further confirming the strength of the XRP rally. Listed on Nasdaq Stockholm, the VIRXRP exchange-traded product has quickly gained attention by outperforming Bitcoin in recent weeks.
What Is the Virtune XRP ETP (VIRXRP)?
The Virtune XRP ETP is the first-ever XRP-related ETP to be listed on the Nasdaq Stockholm exchange. This product provides 1:1 exposure to XRP, meaning investors can invest directly in the digital asset without having to hold or manage the cryptocurrency themselves.
As the first-ever XRP-related ETP to be listed on a major stock exchange, the VIRXRP has been making headlines with its strong performance. It’s a great option for those who want to benefit from the potential of XRP without the complexities of buying and storing the token.
XRP’s Strong Price Rally
XRP’s surge has been driven by multiple factors, including growing investor interest, positive market sentiment, and strong fundamentals behind the Ripple network. Although the price has cooled slightly, with XRP currently hovering around $1.13, it’s still up by a solid 86% (in last seven days) from its lows just a couple of weeks ago.
What’s interesting about the Virtune XRP ETP is that it has outperformed Bitcoin during this rally. While Bitcoin has also seen a positive price movement, the VIRXRP ETP has delivered higher returns, further supporting the growing strength of XRP as an asset.
When compared to Bitcoin (BTC) and the OMX Stockholm 30 index, VIRXRP has consistently outperformed, reflecting the growing interest in XRP and the potential for even more upside.
Solana Gains Ground as Market Stabilizes:
After a week of significant fluctuations in the cryptocurrency landscape, Solana has managed to retain its positive momentum. In the last 24 hours, the price of SOL has seen an impressive rise of about 13%, fueled by expectations surrounding exchange-traded funds (ETFs) and strong on-chain performance metrics. This surge is bringing Solana closer to reaching its all-time high.
Will a Solana ETF Become a Reality?
VanEck, a prominent financial management firm, has expressed intentions to potentially launch a Solana ETF in the next year. Matthew Sigel, who heads Digital Asset Research at the firm, indicated that institutional interest in cryptocurrencies like Bitcoin and Ethereum may create similar demand for Solana.
How is Solana Performing in DEX Volumes?
Recent data from analytics company DefiLlama reveals that Solana’s decentralized exchange (DEX) volumes have surged to unprecedented levels. In November alone, DEX transactions on Solana accounted for nearly one-third of the total DEX activity, significantly outpacing Ethereum’s approximate 17.5% share.
Solana’s growth continues to thrive due to Ethereum’s challenges with high transaction fees and network congestion. This has fostered an escalating rivalry in the decentralized finance (DeFi) sector, although it is still uncertain if Solana will successfully eclipse Ethereum.
The likelihood of a Solana ETF approval is elevated following recent regulatory shifts.
Increased institutional interest points to potential growth for Solana.
Strong DEX performance showcases Solana’s competitive edge in the DeFi landscape.
Solana’s trajectory remains a topic of intrigue, with evolving market conditions and regulatory changes playing pivotal roles in shaping its future. The potential emergence of a Solana ETF could be a significant catalyst for its market expansion and overall acceptance.
Top Crypto Performers of the Week: Remarkable Gains in the Market
-Pepe (PEPE) and Dogecoin (DOGE) dominated with exceptional trading volumes, reaffirming the appeal of community-driven meme coins.
-Minotaurus (MTAUR) and Brett (BRETT) gained attention with innovative features and strong community engagement, signaling growing investor confidence.
-Bonk (BONK) showcased lucrative potential, leveraging Solana’s ecosystem to achieve remarkable throughput and attract market interest.
This week was quite an impressive run for many cryptos much to the delight of traders and investors. Among those were Pepe (PEPE), Dogecoin (DOGE), Minotaurus (MTAUR), Brett (Based) (BRETT), and Bonk (BONK), Among the digital currencies discussed in the current study, some of the most significant and notable included; It realized these tokens, which showed remarkable performances through earth-shattering price and trading volumes on token sales. Particular characteristics of each of the assets and their value in terms of community appeal cannot be overlooked when noticing an expansion of interest in vibrant and invigorated projects in the crypto sphere.
Ripple News: Will XRP ETFs Debut After Gensler’s Resignation? Pro-XRP Lawyer Gives Timeline
A few weeks ago, Ripple Labs CEO Brad Garlinghouse made headlines by stating that it's "inevitable" that the company's XRP cryptocurrency will eventually be offered through an exchange-traded fund (ETF). This bold claim gained further attention after the U.S. presidential election, which saw pro-crypto candidate Donald Trump win, sparking more speculation about the future of XRP and its potential ETF launch.
However, according to pro-XRP lawyer Jeremy Hogan, there are still significant hurdles ahead. In Bitwise's October filing with the SEC for an XRP ETF, the company pointed out that the biggest risk to buyers of the ETF is... the SEC itself. This suggests that regulatory uncertainty remains a key challenge, with the SEC's stance on XRP still unresolved. Hogan believes this section of the filing may need to be amended soon to reflect evolving circumstances.
After the approval of the Ethereum ETF, the price of Ether soared. Many believe an XRP ETF could follow, and some say it's inevitable. We might not know the exact timeline, but other crypto ETFs, including one for XRP, seem likely to happen.
According to Hogan, the typical timeline for an ETF approval is around 6 to 12 months, which means we could be looking at a potential XRP ETF launch sometime next summer—assuming everything goes smoothly with ongoing legal appeals and regulatory developments.
Conclusion:
The ongoing legal battle with the SEC has made it difficult for Ripple to operate at its full potential. If we look ahead a year, though, and if we see positive developments in the legal space, XRP could really take off. Once the SEC lawsuit is behind them, we could witness a huge surge in XRP’s use and value. Some speculators even think that big changes like SEC Chairman Gary Gensler stepping down could help reveal it’s true potential.
📉📊 Gold Prices Dip to Monthly Low: Gold prices slid to their lowest in over a month today, experiencing the sharpest correction this year. Since October 31st, prices have dropped about 7%, or $200 per ounce, driven largely by a strengthening USD and rising yields. $XAUUSD at Seven-Week Low: Currently, XAU/USD hovers around $2,600, hitting a critical support level. However, the path forward remains uncertain. 👀 What's Next? As the market watches for developments in the US presidential election, the question remains: Will gold continue its decline, or is a rebound on the horizon? Trading leveraged products involves significant risk of loss. Refer to our Legal Documents
🔻 Flash News: Oil Prices Under Pressure 🔻 Oil prices are falling! 📉 Geopolitical tensions are easing in the sector ðŸŒ. A stronger Dollar is pulling markets lower 💪, while CAD also shows further weakness 🇨🇦. Negative economic headlines could add to the pressure 📰. Key support at $66 is critical to guide the next move! 🔠#OilPrices #USD #CAD #MarketUpdate #Commodities #TechnicalAnalysis #TradingNews Trading leveraged products involves significant risk of loss. Refer to our Legal Documents Section.
🶠Dogecoin on the Rise 🚀 Dogecoin is climbing, fueled by optimism around Elon Musk's nomination for the Department Of Government Efficiency. The trend remains strongly positive, but a retracement could be on the horizon after such a sharp increase in price🔄 A stronger Dollar might weigh on crypto markets, so keep an eye on the broader landscape. 📉 #Dogecoin #DOGE #CryptoTrading #ElonMusk #Cryptocurrency #CryptoNews #MarketTrends #USDStrength #BullishTrend #marketcorrection #TradingAnalysis #CryptoInvesting Trading leveraged products involves significant risk of loss. Refer to our Legal Documents Section.
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