Crypto Retro
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โก๏ธ The price of cryptocurrency depends on the news โก๏ธ ๐ Here you can learn how to make money on cryptocurrencies ๐ ๐ Promotion: @attackerme ๐
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WBTC's Resilience Amid Controversy: Community Support and Legal Scrutiny
โ๏ธ Despite recent controversies, WBTC continues to garner strong support from the community. A notable example is World Liberty Financial (WLFI), associated with Donald Trump, which has made a significant investment in WBTC by swapping $10 million worth of Coinbase's cbBTC for WBTC. This move underscores WBTCโs undeniable value and strengths despite the ongoing debates.
โ๏ธ During the TRO hearing, Coinbase failed to provide justifiable reasons for WBTC's delisting. There were no due diligence issues raised regarding custody arrangements or proof of reserves, which are lacking in its own product, cbBTC. Coinbase's sole argument was an ad hominem attack, claiming "Justin Sun was involved," based on unverified media reports.
โ๏ธ The judge's decision regarding the temporary restraining order (TRO) highlighted that such orders are rarely granted in the American judicial system unless there is specific proof of irreparable injury. The judge did not rule on the competitiveness of the actions taken and noted that BiT Global could request another order with additional evidence of damages.
โ๏ธ Furthermore, Coinbase's listing standards come under scrutiny as a member of its listing team was convicted of insider trading and is currently serving a two-year prison sentence. This raises questions about Coinbase's own practices and whether they should be examining their team rather than pointing fingers at others.
โ๏ธ Additionally, Coinbase CEO has accused the United States Department of Justice of political prosecutions and frequently criticizes the SEC for its actions against them. This begs the question: did they genuinely believe they couldn't associate with anyone the SEC had sued, or was it merely a convenient excuse?
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๐ฐ Bitcoin Reaches New Heights: $107,140
๐ Bitcoin (BTC), the leading cryptocurrency, has achieved a historic milestone by reaching an all-time high of $107,140. This surge is attributed to several factors that are reshaping global markets. The recent price increase underscores the growing recognition of digital currencies as legitimate financial assets.
๐ฆ One of the key drivers behind Bitcoin's rise is the increasing adoption by institutional investors. Major financial institutions, such as Microstrategy, have announced plans to integrate cryptocurrency solutions into their operations, boosting confidence in BTC as a long-term investment. Additionally, while retail investor interest has slowed, it remains a contributing factor to Bitcoin's upward trajectory.
๐ Geopolitical instability and concerns about inflation have also led investors to view Bitcoin as a safe haven against traditional financial risks. The growing use of blockchain technology across various sectors has further enhanced Bitcoin's utility beyond mere speculation.
๐ As the market continues to evolve, BTC stands as a symbol of the shift towards digital currency in the modern economy. Analysts believe that this price milestone not only signifies a peak but also reflects the increasing acceptance of cryptocurrencies on a global scale. As of December 16, 2024, at 11:42 a.m. ET, BTC is trading at $107,140 per coin.
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๐น Crypto Market Steady at $3.66 Trillion: ENA and DOG Lead Gains
๐ The crypto market remains stable at $3.66 trillion, with a 1.82% increase over the past day. Ethenaโs ENA token has emerged as the top performer, soaring by 23.08%, while the Bitcoin-based meme coin dog go to the moon (DOG) jumped 15.41%.
๐ฐ On Sunday afternoon, the market saw a global trade volume of approximately $125.85 billion, despite an 8.77% decline since yesterday. Bitcoin (BTC) rose by 2% and Ethereum (ETH) increased by 1.23%. Notably, ENA experienced a significant boost due to Trumpโs World Liberty Financial acquiring some of its tokens.
๐ Other notable gainers included Axelar (AXL) with an 11.26% rise, and FTM, STX, and SPX which surged between 9.63% to 10.39%. However, ACT fell by 12.47% and FTN dropped 6.60%, while the AI-crafted meme coin GOAT decreased by 5.89%.
๐ As of 1:43 p.m. Eastern Time on Dec. 15, BTC is nearing its record high of $103,647 set on Dec. 5, being just 0.7% away from breaking through its previous peak. However, it faces resistance at $103.4K.
๐ฎ The recent rallies in tokens like ENA and DOG indicate a renewed trader interest in seeking gains through speculative bets alongside established crypto assets. This blend of excitement and caution reflects a market in transition, poised for potential shifts as the year concludes.
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๐งฐ SEED is getting closer to listing, and the biggest airdrop ever is waiting for you.
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seedmon.mp46.94 MB
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โ๏ธ COINBASE FACES $1 BILLION LAWSUIT OVER wBTC DELISTING AND cbBTC LAUNCH
๐ฅ Coinbase, the cryptocurrency giant, is facing a $1 billion lawsuit after delisting wBTC, the original "wrapped Bitcoin" token, just as it introduced its new competitor, cbBTC. The lawsuit alleges that Coinbase engaged in antitrust practices to promote cbBTC over wBTC.
๐ wBTC has been a key player since 2018, allowing Bitcoin to be used on other blockchains. However, Coinbase removed it from its exchange, claiming it was no longer suitable despite continuing to list various meme coins.
๐ Coinbase described cbBTC as "super strategic" and claimed it would surpass wBTC within six months. This bold statement has raised eyebrows, with attorney Kevin Kneupper questioning the fairness of such actions:
โIf an exchange can crush a competitor like this, whoโs safe?โJoin the conversation & share your thoughts! #Coinbase #WBTC #DeFi #Cryptocurrency
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๐ฐ Michael Saylor's Bold Bitcoin Strategy: Embracing Value Over Price
๐ Michael Saylor, the executive chairman of Microstrategy, recently addressed concerns regarding bitcoin's soaring price during a discussion with Dave Portnoy, founder of Barstool Sports. Portnoy questioned whether bitcoin had become "too expensive" after reaching $100,000 per coin. Saylor confidently dismissed this notion, emphasizing his commitment to long-term investment regardless of price fluctuations.
I'm gonna keep buying,Saylor asserted, adding,
I'll be buying it at a million dollars a coin and I'll probably be buying it at the rate of a billion dollars a day at a million dollars a coin, because that's what I do.โก๏ธ Saylor drew a parallel between bitcoin and Manhattan real estate, suggesting that rising prices do not diminish an asset's long-term value. He remarked,
Manhattan real estate's really expensive in 1930. It's a lot more expensive than 1830. Iโm like, well, you know, 100 years later weโll still be buying it and weโll be paying a lot more.โช๏ธ He highlighted bitcoin's decentralized and incorruptible nature, stating,
Bitcoin gives you control of your money โฆ You have to be on a network that wonโt freeze you or censor you, and youโve got to have an asset that nobody else can debase.For Saylor, bitcoin's rising price is not a limitation but rather evidence of its growing global adoption and unique value as a store of wealth. ๐ When asked if his confidence had wavered since Microstrategy began investing in bitcoin in 2020, Saylor recounted initial challenges. He shared,
We bought $250 million at like $11,800 a coin, and then it crashed 20%. We lost $40 million in the next week and a half.Despite this setback, he remained committed to bitcoin as both a financial strategy and a means of economic empowerment.
Once youโre committed, youโre in โฆ Iโm going to ride it to zero or weโre going to win, but Iโve decided I want to win,Saylor affirmed. ๐ Recently, Microstrategy acquired an additional 21,550 bitcoins, bringing its total holdings to 423,650 BTC valued at $25.6 billion. This purchase underscores the company's ongoing investment in BTC as a significant asset.
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๐ถ Dogecoin's Bullish Momentum on December 7, 2024
๐ On December 7, 2024, Dogecoin (DOGE) continues its upward trajectory, driven by technical indicators across various timeframes that suggest strong bullish momentum. This surge is further fueled by increased public interest following Elon Musk's recent posts about DOGE on social media platform X.
๐ The 1-hour chart reveals a solid uptrend for DOGE, with prices bouncing back from $0.42 to a peak of $0.454. This price movement was supported by a notable spike in trading volume, indicating robust buying activity. However, a slight dip in volume due to some profit-taking suggests a possible retracement ahead. Traders might consider entering positions around $0.445 or $0.44 during periods of lower selling volume, aiming for short-term targets between $0.46 and $0.47.
๐ Moving to the 4-hour chart, DOGE shows a pattern of higher highs and higher lows established since December 3, reinforcing its medium-term bullish trend. Support has been solidified around $0.42, with resistance levels identified between $0.46 and $0.47. The presence of green volume candles during upward movements suggests significant buying, likely from institutional investors. Traders may find appealing entry points near $0.435 to $0.44, with potential targets of $0.4655 to $0.47 or higher if resistance is overcome with strong volume.
๐
The daily chart illustrates a remarkable recovery for DOGE, rising from $0.1422 in November to a peak of $0.48 in December. The consolidation zone between $0.44 and $0.45 indicates bullish strength, with a potential breakout imminent. Major resistance at $0.48 remains critical; a daily close above this level could open the door to targets of $0.50 or more. Key support levels are identified at $0.42 to $0.43, providing strategic entry points for long-term positions.
๐ Oscillators present a mixed outlook, with the relative strength index (RSI) at 68.2 and stochastic at 67.4, both indicating neutrality. The momentum indicator suggests an optimistic signal, while the moving average convergence divergence (MACD) level reflects a sell bias. Conversely, moving averages (MAs) are decidedly bullish, with exponential and simple moving averages across 10-, 20-, 50-, and 200-period ranges signaling buy actions, reinforcing the overall bullish sentiment.
โ๏ธ Immediate resistance levels for DOGE are found between $0.46 and $0.47, with $0.48 representing a strong barrier. On the downside, support levels at $0.44 and $0.42 provide a safety net for traders.
๐จ A breach below $0.42 on higher volume could indicate a reversal, necessitating tight stop-loss strategies. Overall, DOGE presents a promising technical setup, making it an attractive asset for traders seeking bullish opportunities.
๐ช Bull Verdict: The price action of Dogecoin on December 7, 2024, strongly favors a bullish scenario. The combination of higher highs, supportive volume trends, and buy signals from moving averages across all timeframes suggest further upside potential. If the price sustains above $0.46 and breaks through the $0.48 resistance, DOGE could aim for $0.50 or higher, reinforcing its bullish momentum.
โ ๏ธ Bear Verdict: Despite Dogecoin's upward movement, caution is warranted. Oscillators such as the relative strength index (RSI) and moving average convergence divergence (MACD) level reveal mixed signals. A failure to hold support at $0.42 or a rejection at $0.48 with rising sell volume could signal a reversal, exposing DOGE to downside risks toward lower support zones.
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๐ซ SEC's Anticipated Rejection of Solana Spot ETF Applications
๐ The U.S. Securities and Exchange Commission (SEC) is reportedly set to reject applications for spot Solana exchange-traded funds (ETFs), as reported by Fox Business journalist Eleanor Terrett. This potential decision would represent another hurdle for the cryptocurrency industry in its quest for mainstream acceptance through regulated investment products.
๐ According to Terrett's sources, the SEC is unlikely to approve any new crypto ETFs under the current administration. So far, five asset managers have applied for a spot Solana ETF: VanEck and 21Shares were the first in June, followed by Canary Capital in October, Bitwise in November, and Grayscale in early December.
โ๏ธ The SEC's hesitation to approve Solana ETFs stems from ongoing concerns about the regulatory status of cryptocurrencies. In August, the commission rejected applications from Cboe BZX for two spot Solana ETFs, citing worries about Solana potentially being classified as a security. Under Chair Gary Gensler, the SEC has taken a cautious approach to crypto assets, particularly regarding investment products linked to assets that might be deemed securities.
โก๏ธ This cautious stance is reflected in the SEC's lawsuits against Binance, where Solana's native token SOL was classified as a security along with nine other cryptocurrencies. Additionally, the SEC filed a lawsuit against Coinbase in June 2023, claiming that 13 tokens offered by the exchange were securities.
๐ Despite these setbacks, there may be potential shifts in SEC policy on the horizon. Gary Gensler is set to step down on January 20, with Paul Atkins nominated as his successor. This transition has sparked speculation about possible changes in the SEC's approach to crypto ETFs, especially given Atkins' reputation for being more open to digital assets.
๐ Brad Garlinghouse, CEO of Ripple, expressed support for Paul Atkins' nomination to lead the SEC. He stated that Atkins' leadership would bring a much-needed dose of common sense to the agency. Garlinghouse emphasized the need to swiftly end the current restrictive era on crypto and restore freedom of choice, economic growth, and innovation.
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โก๏ธ Virgin Voyages Launches Annual Pass with Bitcoin Payment Option
๐ข Virgin Voyages has made waves in the cruising industry by introducing its Annual Pass, which allows customers to pay with cryptocurrency, including bitcoin (BTC). This innovative move reflects the company's commitment to embracing modern payment methods.
โพ The Annual Pass offers unlimited travel across Virgin Voyages' fleet, which includes four "Lady Ships" and the upcoming Brilliant Lady, set to launch in September 2025. Angela Palmer from Virgin Voyages stated that pass holders can visit destinations like the Caribbean, Europe, and Alaska while enjoying luxurious Sea Terrace cabins. Priced at $120,000 plus taxes and fees, the pass comes with benefits such as priority boarding, unlimited premium Wi-Fi, concierge services, complimentary laundry, and exclusive onboard events.
๐ A standout feature of the pass is the ability for holders to bring a travel companion and swap them throughout the year. Palmer highlighted the groundbreaking option to purchase the pass with bitcoin, demonstrating Virgin Voyages' adaptation to contemporary payment trends.
๐ฌ On Tuesday, Nexo's head of communications, Eleonor Genova, commented on this development, saying,
The line between traditional finance and crypto continues to blur as digital assets move firmly into the mainstream. Virgin Voyagesโ announcement to accept Bitcoin is a clear indicator of this shift, joining the ranks of forward-thinking brands adapting to the evolving demands of modern consumers.She added,
The integration of crypto into luxury financial solutions isnโt a fleeting trendโitโs the next chapter in high-end consumer experiences.๐ Richard Branson, founder of Virgin Group, emphasized the transformative nature of travel, stating,
Now, Sailors can jump aboard any of our ships, across an endless variety of exciting destinations for an entire year. Weโre offering unlimited opportunities for adventure in a way that has never been done in cruising before.The Annual Pass is available for purchase until March 31, 2025, with activation dates set between January and April of that year.
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๐จ โก๏ธ HashCats Team Challenges are HERE!
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๐ Moonlit Christmas โ End 2024 On The Moon with SEED! ๐
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Chill vibes, big rewards, no more star store. This final event is all about thanks and giving for all Seedizens whoโve been with us through this incredible journey.
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I'm just a chill Seedizen ๐ค
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๐ UAE's Crypto Landscape: Resilience Amid U.S. Policy Shifts
๐ Firdosh Sheikh, co-founder of DRIFE, a blockchain-based ride-hailing platform, believes that the United Arab Emirates (UAE) will maintain its crypto momentum regardless of potential policy shifts under a new Donald Trump administration. She argues that the UAE has established a strong foundation that is not solely reliant on geopolitical changes.
๐ช Sheikh emphasizes the UAE's commitment to supporting entrepreneurs through initiatives such as startup visas and progressive regulatory frameworks. This approach has created a competitive environment that is resilient to political disruptions. She cites DRIFE as an example of how engaging with receptive regulators has allowed the company to operate successfully in the region.
โก๏ธ Despite concerns that a pro-crypto Trump administration could undermine the UAE's position as a crypto hub, Sheikh argues that the UAE's rise is not solely due to its pro-crypto policies. Instead, she attributes it to the region's emergence as a venture capital hub for emerging markets. Sheikh states,
Even if the U.S. becomes more crypto-friendly under Trump, the unique benefits offered by the UAE will continue to make it a top choice for entrepreneurs in the blockchain and Web3 sectors.โถ๏ธ Sheikh encourages entrepreneurs to view potential U.S. policy changes as an opportunity to strengthen regional collaborations and promote cross-border crypto initiatives. She advises them to build relationships within the ecosystem and leverage government-backed initiatives while focusing on creating solutions that align with the UAE's forward-thinking approach to technology and innovation.
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๐ฅ Ethereum Price Today: Sell Signal Threatens ETHโs $4,000 Breakout Rally ๐
Uncover if this sell signal will trigger a crash for Ethereum price today or will ETH bulls show strength and catalyze a move to $4,000?
๐ Read more
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๐ฐ SOS Ltd. Allocates $50 Million for Bitcoin Acquisition
๐ SOS Ltd., a player in the blockchain and cryptocurrency sector, has announced a significant investment of $50 million to purchase bitcoin (BTC). This move is part of the company's strategy to enhance its blockchain operations and capitalize on the increasing recognition of bitcoin as a valuable digital asset. The decision comes in light of bitcoin's recent price surge, currently standing at $95.6K per coin.
โก๏ธ Market analysts predict that bitcoin could exceed $100,000 before the year concludes, making this investment timely. It aligns with favorable market conditions, such as shifting U.S. regulatory policies and a rise in institutional adoption of bitcoin.
๐ In its announcement, SOS outlined its plans to employ various quantitative trading strategies to manage risks and enhance returns. These strategies include trading, arbitrage, and portfolio diversification to address the volatility typical of cryptocurrency markets.
๐ฃ Yandai Wang, Chairman and CEO of SOS, highlighted the importance of this investment, stating that bitcoin has the potential to be a strategic reserve asset. He pointed to the cryptocurrency's strong market performance and the improved regulatory landscape in the United States as key factors influencing this decision.
๐ The company's purchase plan also reflects its broader ambition to expand its presence in the digital asset sector. SOS is involved in cryptocurrency mining and commodity trading, with future plans to venture into insurance and security services within the blockchain space.
๐ก SOS reiterated its commitment to fostering technological innovation and delivering long-term value to its shareholders. This investment strategy underscores the company's belief in bitcoin's transformative role in the global financial ecosystem.
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