Cryptocurrency

Fed Chair Jerome Powell also said the central bank has no intention of participating in any government initiative to stockpile substantial amounts of Bitcoin, further dampening sentiment.Bitcoin fell 2.6% to $101,153.0 by 01:08 ET (06:09 GMT). The crypto briefly fell fell below $100,000 during the session.The world’s largest cryptocurrency had hit an all-time high of $108,244.9 on Tuesday after incoming President Donald Trump further raised the prospect of a Strategic Bitcoin Reserve last week. The Fed reduced interest rates by 25 basis points but signaled it will adopt a slower pace for future cuts.Policymakers were now seen supporting only two rate cuts in 2025, half of prior expectations for four, indicating a more cautious stance and a prolonged period of elevated borrowing costs.The central bank’s hawkish stance weighed on Bitcoin as tighter monetary policy reduces liquidity, making speculative assets like cryptocurrencies less attractive.Broader risk-driven assets also plummeted on this notion, with Wall Street logging steep declines on Wednesday.Fed chief Powell said the central bank was not allowed to accumulate large amounts of Bitcoin, saying “that’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed.”The response came while he was discussing the possibility of central bank involvement in the government’s plan to create a Strategic Bitcoin Reserve after President-elect Donald Trump takes office.While his comments do not have any direct bearing on the prospect for a Bitcoin reserve, they underscored growing doubts over whether the reserve will come into being, given the regulatory hurdles it is likely to face. Trump had outlined plans to build a reserve, but gave scant cues on how they would be carried out. Elsewhere, El Salvador’s President Nayib Bukele agreed to scale back his plan to make Bitcoin a national currency in return for a crucial $1.4 billion loan from the International Monetary Fund.The IMF deal marks a sharp pivot away from Bukele’s Bitcoin ambitions, after he adopted the crypto in 2021 and even outlined plans to issue bonds backed by Bitcoin.While El Salvador has since put these ambitions on ice, the country’s Bitcoin stockpile has seen a large jump in valuation after the crypto’s latest rally.Other cryptocurrencies followed Bitcoin’s lead, as traders were cautious after the Fed meeting. With two consecutive days of declines, most altcoins have lost most of the ground they had gained last week.World no.2 crypto Ether fell 4.7% to $3,684.62, extending its decline. World no.3 crypto XRP slumped 5.6% to $2.3701.Solana was 2.5% lower and Polygon slumped 6%, while Cardano fell more than 4%. Among meme tokens, Dogecoin lost 5.6%.On Wednesday, Hong Kong’s securities regulator approved four cryptocurrency exchanges as part of the city’s latest initiative to remain competitive in the global race to become a hub for digital asset trading. More

Since Bitcoin is still trading above important support levels, the rally that started in late October is still going strong. Notably, the 50 EMA has provided dependable dynamic support, and if selling pressure builds, the $98,400 and $97,500 levels could act as safety nets. You should also pay close attention to volume. Bulls may be losing steam if recent trading sessions reveal a drop in buying volume.A wave of new buyers would probably have been sparked by a breakout above $106,000, but the lack of follow-through suggests a brief decline rather than a complete trend reversal. For the time being, Bitcoin’s short-term course is largely dependent on its ability to sustain support above the trendline. The next significant support is located close to $90,000. If this structure is broken, the price may be exposed to further declines. For the foreseeable future, Bitcoin continues to hold its bullish stance. Corrections such as this are typical during extended rallies, and the uptrend is still intact. To confirm the next leg up, Bitcoin must close decisively above its previous high in order for the rally to continue. If this is not done, the market may cool off and enter a more extensive consolidation phase. Dropping from the recent high is the first warning sign. Ethereum is now having difficulty holding above its 20-day EMA, a crucial short-term support level that is presently centered around $3,707 following weeks of robust upward movement. The 50 EMA, which is located close to $3,355, is the next important support if ETH is unable to hold this level.A decline below this range might indicate a change in the mood of the market and push ETH closer to the psychological $3,000 mark. There is also the issue of volume data. Ethereum saw a spike in November, but recent sessions indicate that buying volume has decreased.Bulls may be losing steam, as indicated by the waning buying pressure, which leaves ETH open to additional selling pressure. Technically speaking, there is a bearish divergence beginning to form on Ethereum’s price chart. The relative strength index, or RSI, is exhibiting signs of stagnation close to 63, a level that frequently indicates a loss of bullish momentum even though prices reached a local high. A deeper bearish trend may be confirmed if the RSI continues to decline. Ethereum’s overall long-term trend is still positive, as long as it stays above important support levels, even with the short-term bearish outlook. The $3,707 and $3,355 support zones are crucial for investors to monitor. Reviving bullish momentum and laying the groundwork for a possible recovery could be achieved by a bounce from these levels. The $0.45 region has now become strong resistance due to the inability to sustain momentum. Dogecoin may soon approach the 50-day EMA, which is presently at $0.35 as a result of this breakdown. It is concerning that the asset is testing this level so soon after its rally, even though it offers strong technical support.card This pullback’s decreasing volume emphasizes the waning buying pressure even more. Because there is not much demand, DOGE bulls are reluctant to intervene, which leaves the asset open to more declines. The $0.28 mark is the next crucial support if the 50 EMA does not hold. A decline below this might pave the way for a more severe correction in the direction of $0.21, a level not seen since the last significant breakout in November. Although it is not yet oversold, DOGE’s current position near 56 on the RSI (Relative Strength Index) front indicates that the downward momentum is intensifying. The market may confirm bearish dominance if the RSI continues to decline.This article was originally published on U.Today More

The move downwards pushed XRP’s market cap down to $138.8200B, or 3.85% of the total cryptocurrency market cap. At its highest, XRP’s market cap was $155.2807B.XRP had traded in a range of $2.2837 to $2.5882 in the previous twenty-four hours.Over the past seven days, XRP has seen a stagnation in value, as it only moved 0.22%. The volume of XRP traded in the twenty-four hours to time of writing was $16.0214B or 8.15% of the total volume of all cryptocurrencies. It has traded in a range of $2.2733 to $2.7239 in the past 7 days.At its current price, XRP is still down 30.59% from its all-time high of $3.29 set on January 4, 2018.Bitcoin was last at $101,092.0 on the Investing.com Index, down 5.06% on the day.Ethereum was trading at $3,687.00 on the Investing.com Index, a loss of 6.56%.Bitcoin’s market cap was last at $2,037.5124B or 56.55% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $456.3904B or 12.67% of the total cryptocurrency market value. More

In the last two weeks, a notable divergence formed between the Coinbase Premium Index and Bitcoin’s price. This divergence comes as BTC’s price rose from $94,000 to $108,000. The flagship cryptocurrency is now changing hands for $104,097.77, down 2.4% at the time of writing.For context, the Coinbase Premium Index reflects the demand for Bitcoin in the United States. It is computed by tracking activity on leading American cryptocurrency exchanges Coinbase and Binance. A higher premium suggests increased buying demand from U.S. investors.The decline of Coinbase Premium poses a significant concern. This coincides with a season when North American investor demand has continued to soar. The January 2024 launch of Bitcoin Exchange Traded Funds (ETFs) and the recent macroeconomic climate have shifted sentiment.According to blockchain analytics platform CryptoQuant, “If the U.S.-based demand has not supported this price surge, it could indicate underlying weakness in medium-term upward momentum.”Based on this outlook, investors are advised to remain cautious and monitor this development closely.Despite the reversal in price amid ATH rallies, the market is hopeful of a major rebound in the near term. From the midterm point of view, the focus is now on the weekly candle’s closure at the $105,149 level. If a false breakout happens, the Bitcoin price risks dropping to a new low of $100,000.This article was originally published on U.Today More

Pepeto: The God of Frogs with Utility and a Vision Unlike other memecoins’ trading-centric approach, Pepeto offers a comprehensive utility-driven ecosystem. Pepeto, known as the God of Frogs, aims to adopt all future memecoins and elevate the sector through its zero-fee cross-chain exchange and bridge technology.Pepeto’s Ecosystem Highlights:Roadmap: Track Record and Major Milestones AheadPepeto has already completed its Q4 2024 roadmap and begun executing Q1 2025 milestones, including its website upgrade to prepare for the launch of PepetoSwap’s beta version.Two major announcements are rumored to include a beta utility launch and potential exchange listings.Community and HypeAccording to the team, Pepeto’s narrative-driven story and utility have attracted community engagement. Across social media platforms, interested users have joined the Pepeto Army.PEPETO has gathered more than 25,000 followers on its X (Twitter), Instagram, YouTube channel, Telegram and Tiktok channels. (Official socials can be found below)Pepeto’s presale has raised over $2.5 million in a short period.Pepeto’s EmergencePepeto ($PEPETO) is emerging within the memecoin ecosystem, drawing inspiration from the success of the Pepe family.https://www.youtube.com/watch?v=lKZl_T51MVYCurrently priced at $0.000000098 and sharing the same total supply as Pepe (420T), Pepeto can offer an entry point for investors. Its unique value proposition lies in its advanced swap, exchange, and bridge technologies, built on the Ethereum blockchain. This innovative infrastructure sets Pepeto apart by delivering seamless cross-chain functionality and zero-fee trading.ABOUT PEPETO :Pepeto is a memecoin project built to enhance cross-chain functionality while fostering community engagement. With features such as zero-fee trading, blockchain bridge integration, and a staking rewards program, Pepeto combines practical utility with accessibility. By prioritizing interoperability and long-term value, the project aims to establish a strong foundation for growth and innovation within the evolving memecoin landscape.Official website : https://pepeto.io/.Social Media:This article was originally published on Chainwire More

The situation is given more weight by the liquidation data. With longs suffering the most losses at $327.81 million versus $79.59 million for shorts, over $407 million in positions have been lost in the last day. With $77.99 million in positions related to Bitcoin, BTC is the second-largest contributor to the total liquidations, trailing others by $10,098 million. Ethereum, which contributed $55.89 million in liquidated positions, also experienced significant losses. Binance is the most affected exchange with a total loss of $11.45 million, which is divided between $4.39 million in longs and $7.06 million in shorts, according to the distribution of liquidations. With $5.16 million in liquidations, OKX comes in second, with an overwhelming 81.94% short bias suggesting that bearish sentiment probably caused a large number of position closures. Unusual activity in altcoins is further highlighted by real-time liquidity data. Concentrated liquidations occurred in smaller-cap assets like SUI-USDT, DOGE and UXLINK-USDT. The steep decline in Bitcoin probably caused a domino effect on the market as a whole, forcing traders who were overly leveraged to quickly sell their positions. Technically speaking, buyers are intervening to stop additional declines as Bitcoin is still supported close to the rising trendline. But if Bitcoin is unable to stay above important support levels like $98,400 and $97,900, there might be more selling pressure and liquidations. In the future, traders should keep an eye on Bitcoin’s movement around the psychological $100,000 mark. Although a sustained decline could increase liquidations across leveraged positions in both Bitcoin and altcoins, a clear move above this could regain investor confidence. The market is still tense, and volatility is expected to continue for some time to come.This article was originally published on U.Today More

dTRINITY, a next-generation stablecoin liquidity protocol, has announced its mainnet debut on the Fraxtal L2 network. The platform is designed to lower interest expenses and improve yields for stablecoin users, addressing the key challenge of rising credit costs in DeFi.At the core of dTRINITY is a protocol-native stablecoin (dUSD), which serves as the unified liquidity layer between its money markets (dLEND, an Aave v3 fork) and external liquidity pools (e.g., Curve). dUSD is backed 1:1 by an on-chain collateral reserve consisting of stablecoins such as USDC, FRAX, and DAI, as well as yieldcoins like sFRAX and sDAI. Exogenous yields from the reserve are redirected to fund ongoing interest rebates for dUSD borrowers on dLEND, based on their outstanding debts, which reduces the effective borrowing cost. This mechanism not only stimulates borrowing demand but also drives more sustainable utilization and yields for dUSD lenders.dTRINITY is launching on Fraxtal as its genesis network in a strategic collaboration with Frax to optimize ecosystem liquidity and user incentives. Fraxtal is an EVM-equivalent rollup with a scalable smart contract platform and efficient execution environment powered by the OP stack. Users can take advantage of Fraxtal’s fast transaction speed, low gas fees, robust network security, and unique blockspace rewards, further enhancing their benefits.In the near future, dTRINITY plans to expand to Ethereum and other emerging blockchains, strengthening cross-chain liquidity and interoperability with Fraxtal as the network scales.Key Features of dTRINITY:For more information, users can visit dtrinity.org and follow @dTRINITY_DeFi on X.Disclaimer: dTRINITY is not available to residents of Belarus, Canada, Cuba, Haiti, Iran, Myanmar, North Korea, Russia (including Crimea), Somalia, South Sudan, Syria, the USA, the UK, Venezuela, and other prohibited jurisdictions. The information contained herein should not be considered legal, business, financial, or tax advice. Past performance is not indicative of future results. Digital assets and DeFi protocols carry significant risks, including the potential for loss of funds. Users should conduct their own research and seek professional advice before interacting with digital assets and DeFi protocols.About dTRINITYdTRINITY is the world’s first subsidized lending protocol, designed to reduce borrowing costs and enhance yields for stablecoin users in DeFi. The protocol is powered by dUSD, a decentralized stablecoin backed 1:1 by an on-chain yieldcoin reserve. Exogenous yields from the reserve are used to fund ongoing interest rebates for dUSD borrowers, lowering their effective borrowing rates. dTRINITY is now live on the Fraxtal L2, and it will be expanded to Ethereum plus other networks in the future.ContactCore ContributorKory HoangTrinity Foundation [email protected] article was originally published on Chainwire More

Sophon has launched its mainnet, introducing the first-ever Validium on ZKsync powered by Avail DA. With over $500M in Total (EPA:TTEF) Value Locked (TVL) through the Sophon farming program, and a growing ecosystem of established partners, Sophon is paving the way for scalable, consumer-focused blockchain applications.The launch comes with significant community support: over 120,000 node licenses purchased by more than 5,800 unique participants are now open for claiming. The SOPH token deploys today in a non-transferable state, with all transactions free for users during this initial phase. Node holders will begin getting rewards from January 1st, with full token transferability and trading expected in Q1 2025.Launch Partners Driving AdoptionSophon’s consumer-first approach focuses on delivering user experiences that encourage mainstream crypto engagement. Debuting with industry leaders selected for their ability to bring blockchain benefits to everyday users:Sophon understands that mainstream users prioritize experiences and value over the underlying blockchain technology. By focusing on entertainment applications that naturally benefit from blockchain’s capabilities, Sophon is creating an ecosystem where the technology enhances rather than complicates the user experience.This vision is reinforced through strategic collaborations with industry pioneers, like Beam, which is launching the first gaming-focused fund and accelerator in Abu Dhabi with a target size of $150M. Sophon is a strategic partner in this accelerator, supporting the advancement of blockchain-based gaming. Additionally, Sophon has seeded the $40M Tactical Compute initiative, targeting projects building at the intersection of crypto and AI. These partnerships ensure Sophon is not just building infrastructure – it’s contributing to the growth of the entire ecosystem.History in the makingSophon’s mainnet launch is the first-ever Validium on ZKsync to leverage an external data availability layer powered by Avail, bringing unmatched scalability, security, and savings. By using Avail’s modular application development stack to create its own Light Nodes, Sophon ensures high performance, maintaining full decentralization and data availability, working to set a new standard for modular blockchain designs. Sophon is the ultimate platform for next-gen entertainment applications, spanning everything from gaming to AI-powered experiences. It’s primed to be the go-to destination for entrepreneurs and major players in the entertainment industry looking to build their products onchain, offering users novel ways to earn, engage, and enjoy themselves.To learn more about Sophon, users can visit sophon.xyzMedia Contact: Oskari Tempakka ([email protected])About AvailThe Avail Network is a modular application development stack designed to establish blockchains as the verification system for the Internet. By addressing key challenges in rollup scalability, interoperability, and usability, Avail provides a foundational Data Availability (DA) layer built on the same technology planned for Ethereum’s danksharding roadmap, including KZG Commitments and Data Availability Sampling (DAS). Avail is led by Polygon’s former co-founder Anurag Arjun and research lead Prabal Banerjee. Start your Avail journey today at availproject.org.To learn more about Avail, users can visit availproject.orgMedia Contact: Luke Richardson ([email protected])About ZKsyncZKsync is the pioneering zero-knowledge technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables the elastic network, an ever-expanding ecosystem of customizable chains. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available. To learn more about ZKsync, users can visit http://www.zksync.ioContactAnnu [email protected] article was originally published on Chainwire More