Cryptocurrency

As Bitcoin open interest hits an all-time high of $67 billion, the spike to $106,000 is a blatant indication of heightened interest in derivatives markets. Because leveraged positions magnify both upward and downward movements, elevated open interest can increase volatility, even though it usually indicates strong speculative activity. The next significant resistance level for Bitcoin after this remarkable ATH is probably around $110,000. There may be a lot of selling pressure at this psychological barrier as investors try to lock in profits. The next target would move toward $120,000 if Bitcoin keeps up its bullish momentum and breaks through $110,000, helped by growing institutional inflows and widespread adoption.Bitcoin has solid support on the downside close to the $98,000 mark, where buyers have defended important levels in the past. If a brief retracement happens, the 50 EMA on the daily chart, which is presently trading at about $97,000, will offer an extra layer of support for Bitcoin. The market as a whole has risen since Bitcoin’s return to its all-time high, which has increased hope for altcoins.In the past, as investors look for chances for larger returns, new highs for Bitcoin have caused capital to shift into alternative assets. This situation might recur, with Ethereum and other significant altcoins profiting from the optimism surrounding Bitcoin.Additionally, there is less volatility, which indicates a narrower trading range. This may indicate that DOGE is preparing for its next major move by consolidating. Although recent attempts to retest the upper boundary have failed, the asset is still within a parallel ascending channel. A rebound in buying volume and increased bullish sentiment are necessary for Dogecoin to break through the $0.42 resistance and make a significant upward breakthrough.On the down side, the price may test the next critical support, which is located around $0.34, if DOGE is unable to maintain its current support level. The 50 EMA, a frequently watched indicator that frequently serves as a buffer during retracements is in line with this region. The price may be pulled toward the $0.27 level, where the 200 EMA offers longer-term support, if it drops below this zone, which could lead to additional selling pressure.The current low-volume environment advises investors to exercise caution. The mood of the market as a whole, and whether volume increases in the days ahead, will probably determine breakouts in either direction. Will a push toward $0.50, a psychological level that traders are keeping a close eye on, be possible if Dogecoin can regain its momentum and break above $0.42?The fact that the 26 EMA is still functioning as dynamic support suggests that Ethereum is still rising. Even so, the volume profile indicates a drop in buying pressure, indicating a lack of conviction to make a sharp move above $4,000. The recent overextended rallies in which Ethereum saw steady gains without a notable correction are primarily to blame for this retracement. As ETH tests this resistance level, traders are probably halting to reevaluate. If Ethereum is unable to rise above $4,000, it may retrace to the 50 EMA, which is the closest support zone at $3,677. Whether Ethereum can continue on its upward trajectory or undergo additional consolidation will depend on this level. If Ethereum breaks through the $4,000 barrier with a significant volume increase, the next target could be between $4,200 and $4,500, where momentum might pick up even more speed. But a greater retracement toward $3,300, a solid support zone that coincides with the 200 EMA, might be possible if there is a breakdown below $3,677.Although Ethereum’s price action is still encouraging, overall, more buying volume is needed for a distinct breakout. Investors should closely monitor whether bulls can withstand pressure in the upcoming days and keep an eye on the $4,000 resistance. Despite its recent bullish rally, Ethereum’s recovery is still in its infancy until then.This article was originally published on U.Today More

Forte’s Open Source Rules Engine Empowers Web3 Developers with Dynamic On-Chain Compliance and Economic Solutions for Launching and Managing Digital Assets.Forte has officially unveiled and launched the Forte Rules Engine, an open-source solution for developers to build safe, on-chain environments and manage digital asset economies for web3 apps. With the Rules Engine, developers can define and enforce rules, establish transaction guardrails, manage compliance obligations, and mitigate the risks of volatility and bad actors – all while supporting long-term digital asset utility and economic health. Developers can now utilize the Forte Rules Engine by visiting: forte.io/developersSafe Environments for Digital AssetsThe Forte Rules Engine employs on-chain guardrails to implement protective layers and safeguards that help mitigate risk and manage digital asset markets. The technology streamlines compliance navigation by leveraging Forte’s ecosystem of regulated partners to facilitate Know Your Customer (KYC) and Wallet protocols as well as sanctions enforcement, fostering responsible practices and building trust among users and communities. Through enhanced features such as Zero Knowledge (ZK) capabilities, developers can ensure privacy, verify identities, and assure transaction integrity.Economic StabilityDevelopers will have access to a growing set of features designed to help launch, grow and scale a sustainable economy that their community can trust. This includes both templated and bespoke rulesets which can be designed to mitigate market volatility and manipulation, enforce token utility requirements, and effectively manage trading volume. The on-chain rulesets are designed for seamless integration and equipped with third-party integration options, ready to meet developer needs from day one. They offer the flexibility to adapt and evolve alongside the project, ensuring scalability and stability. Developers interested in leveraging the Forte Rules Engine for their next project can start building here. About ForteForte provides open-source, on-chain solutions that foster safe environments and support healthy and stable digital asset economies. Our trust and privacy-preservation solutions empower developers to manage compliance risk, promote economic stability, and leverage instant liquidity. Developers can deploy flexible and adaptable blockchain solutions that evolve with their dynamic needs – fully compatible with all EVM chains and web3 wallets. Forte and its ecosystem partners are currently working with acclaimed developers to redefine the future of blockchain innovation. ContactSibel Sunar47 communications on behalf of Forteforte@fortyseven.comThis article was originally published on Chainwire More

Floki is set to make its mark at the 2024 World Tennis League (WTL), one of the most exciting mixed-gender exhibition tennis tournaments in the world. Held at the Etihad Arena in Abu Dhabi from December 19 to December 22, this year’s event combines world-class tennis with live music, set to captivate millions of fans worldwide.The 2024 WTL boasts a roster of top-ranked athletes, including: Aryna Sabalenka, Iga Swiatek, Jasmine Paolini, Casper Ruud, Nick Kyrgios, Simona Halep, Stefanos Tsitsipas, Paula Badosa, Andrey Rublev, Elena Rybakina, Caroline Garcia, Mirra Andreeva, Jordan Thompson, Sumit Nagal, Alexander Shevchenko and Denis Shapovalov. These players have been assigned to 4 different teams — Kites, Eagles, Falcons and Hawks — as part of an all-play-all game format.Floki’s brand will be prominently displayed throughout the tournament. Branding will feature courtside next to the tramlines and across all digital collateral including LED boards, big screens, and backdrops. The partnership aims to position Floki with a global audience that exceeded 46.4 million during last year’s event. The evenings will transform the Etihad Arena into a concert venue, featuring live performances by Bryan Adams, Akon, Anastacia, and Sean Paul. This year’s WTL will be broadcast live on Sony (NYSE:SONY) TV and an extensive network of global broadcast partners, ensuring Floki reaches tennis fans worldwide.About the World Tennis LeagueNow in its third edition, the World Tennis League has earned a reputation for its innovative format, blending elite-level tennis with a festival atmosphere. The third edition of the WTL is set to take place from December 19–22, 2024, at the Etihad Arena in Abu Dhabi, UAE, a premier venue that hosts world-class events. The tournament attracts top-tier tennis talent and millions of fans worldwide, making it a marquee event in the international sports calendar.About FlokiFloki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Focused on utility, community, philanthropy, and strategic marketing, Floki is working toward becoming the world’s most recognized and used cryptocurrency. With over 490,000 holders globally, Floki has already established a strong brand presence. Users can learn more at floki.com.YouTube | Telegram | Instagram | TikTok | Discord | Facebook (NASDAQ:META) | Reddit | Twitch | ValhallaContactCommunity Relations OfficerPedro VidalFLOKIMarketing@floki.comThis article was originally published on Chainwire More

The U.S. Federal Reserve’s final meeting of the year is slated for this week; the Federal Open Market Committee’s meeting on Tuesday and Wednesday is of particular interest to investors eagerly expecting this year’s final interest rate decision.Other economic statistics will be released throughout the week, including retail sales for November on Tuesday, weekly initial jobless claims and the GDP growth rate for the third quarter on Thursday.As of Monday, markets had priced in a 97% chance of a 25-basis-point interest rate decrease. Markets will look to the Fed’s updated policy statement and Fed Chair Jerome Powell’s press conference on Wednesday for clues about future interest rate decisions.The Fed is now undergoing a blackout period, which means committee members are unable to make public comments prior to the FOMC meeting.On the other hand, if Powell’s statement suggests a slowing approach or if the rate cut is smaller than expected, the market may react unfavorably. Concerns about persistent inflation and a slower pace of rate cuts might dampen investor enthusiasm.In Monday’s trading session, the crypto market is currently posting mixed price action. Bitcoin recently surged to a new all-time high.According to CoinMarketCap, Bitcoin’s price was recently up 1.41% daily at $103,926, after reaching a new record high of $106,554 in early Monday trading. Ethereum rose 1.62% in the last 24 hours to $3,951. The majority of cryptocurrency assets traded in the red; XRP, Shiba Inu, Toncoin and BONK lost between 2% and 4%, while SUI, BGB, Fantom and RUNE gained between 4% and 15% in the last 24 hours.The outcomes of the Fed’s decisions and Powell’s insights might set the tone for the market in the coming days.This article was originally published on U.Today More

Bitcoin’s price was recently up 1.41% at $103,926, according to CoinMarketCap, after reaching a new record high of $106,554 in the early Monday trading session. Investors expect the Fed to decrease interest rates this week during its two-day policy meeting, which ends Wednesday.MicroStrategy shares rose Monday, closing more than 5% higher in premarket trading, according to CNBC data. In 2024, the MicroStrategy stock is up 547%, considerably surpassing the S&P 500’s 26.9% gain, as the price of Bitcoin reaches all-time highs.MicroStrategy has been accumulating Bitcoin reserves for years, making it a proxy for the digital currency. With the recent purchase of 15,350 BTC, the company’s Bitcoin stockpile has increased to 439,000 BTC. Bitcoin is currently up over 8% for the month and 145% for the year.Every year, Nasdaq rebalances its Nasdaq-100 index, and the companies chosen for inclusion are primarily based on market capitalization rankings as of the last trading day of November. In addition, the stocks must meet liquidity requirements and have a specific amount of free-floating shares.Gains of more than 40% in the last three months have increased MicroStrategy’s market value to about $100 billion, more than half of the Nasdaq-100’s members, meeting a major requirement for membership.This recent move also means MicroStrategy will be included in the renowned Invesco QQQ Trust ETF, which tracks the Nasdaq-100. This is likely to result in passive inflows into MicroStrategy stock, potentially providing it with another boost.This article was originally published on U.Today More

Despite this trend, Peter Schiff has answered direct queries from the community as to why he refused to buy the coin amid expectations of growth.In a subsequent post, he chided Bitcoin’s influence among buyers overall. He said many new people are buying the coin because they want to get rich. However, he highlighted how unsustainable the cycle is, as those who own BTC refuse to sell.He contrasted this trend with that of gold. He claimed that those buying gold are doing so to stay rich and not to get wealthy like Bitcoin.His belief also hinges on the role of Bitcoin as a hedge against inflation and for sustained wealth generation.Following what is now known as the Bitcoin standard, MicroStrategy has entered the Nasdaq 100 Index for the first time since its inception. The firm has gained recognition as the first crypto-focused entity to gain that inclusion, setting the pace for others.This article was originally published on U.Today More

During the testnet phase, over 1.3m users contributed more than 6.5m data points to train user-owned AI models. On mainnet, DataDAOs will leverage the $VANA token to enable users to collectively own, monetize and govern their personal data for a stake in the booming AI economy. MONDAY, DECEMBER 16 2024 — Vana, the pioneering network for user-owned data, today announced the launch of its mainnet and native $VANA token. The launch marks a significant milestone in breaking through the data wall that’s limiting AI development while preserving privacy and giving users a stake in the value their data generates.Developed by Open Data Labs — a San Francisco-based research and technology company born out of the MIT Media Lab — the Vana network is an EVM-compatible blockchain that enables users to maintain ownership and control over their personal data while allowing that data to be used for AI model training through privacy-preserving technologies.The mainnet launch follows Vana’s successful testnet phase, which saw over 1.3 million users contributing over 6.5m data points to DataDAOs, processing approximately 1.7 million transactions daily. The testnet demonstrated that programmable data ownership is not just possible, but critical at this point in AI development, says Anna Kazlauskas, CEO of Open Data Labs and inventor of Vana: With a total supply of 120 million tokens, $VANA will serve as the foundation for the network’s economic model, enabling:The mainnet launch comes at a crucial time when AI development faces increasing data scarcity, while users seek greater control over their digital footprint. Vana’s solution enables individuals to participate in and benefit from the AI economy while maintaining sovereignty over their data. As AI hits a data wall and more platforms monetize user data without sharing any upside with users, users deserve to own a stake in the future of AI, says Art Abal, CEO of Vana Foundation: Media Contact:media@vanafoundation.org About VanaVana is the first decentralized network for user-owned data, unlocking data as a new digital asset class. The Vana network consists of an EVM-compatible blockchain, secure personal server environment, and set of native contracts designed for the trustless and secure exchange of user-owned data via DataDAOs.The network empowers users to maintain control over their data while participating in the growing AI economy by pooling their data with others and earning rewards for their contributions. Media Kit | Vana Docs | X | DiscordAbout Vana FoundationVana Foundation is a non-profit entity tasked with ensuring the sustainability and growth of the Vana ecosystem.About Open Data LabsOpen Data Labs is an independent research company focused on technology to accelerate user-owned data. Open Data Labs created the Vana protocol and provides ongoing core developer services to the Vana Foundation. ContactNick VivionVana Foundationmedia@vanafoundation.orgThis article was originally published on Chainwire More

In a celebration of innovation, Forbes Web3 proudly showcases the community members who hold the Forbes Legacy Pass in its December 2024/January 2025 issue. The Forbes Legacy Pass is more than a membership- it’s a transformative experience bringing together a cohort of global entrepreneurs, founders, and creators. It grants members exclusive access to global Forbes Web3 events, access to curated artist drops, and a global community of thinkers and doers. To learn more about the Forbes Legacy Pass and to apply for a spot, users can visit Forbes Legacy Pass.About ForbesForbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 43 licensed local editions in 69 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements.ContactForbes MediaPR@forbes.comThis article was originally published on Chainwire More