Cryptocurrency

Spot On Chain, a blockchain analytics firm, has been tracking these whale activities, which included a group of four whales that moved approximately 8.13 million RNDR. This movement was part of a larger trading pattern where two prominent wallets sold around half of this amount, netting profits of $7.68 million.In addition to these sales, wallets associated with Multicoin Capital were reported to be involved in transferring another large sum of RNDR, totaling about 3.52 million tokens, onto Coinbase. Following these substantial sell-offs, five new whales entered the scene, acquiring roughly 5.29 million RNDR.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Bitcoin is single-handedly responsible for this bullish trend on the market as its sustained growth all year round and over the past quarter has specifically changed the fortunes of altcoins, but much more has helped it expand its dominance across the board. With the current outlook, Bitcoin now sits at an inflection point, with divergent viewpoints on whether it will continue rising or make a correction.Both outcomes are likely, but according to the “extreme greed” sentiment, we may likely see traders enter the market for Fear of Missing Out (FOMO) in case the coin prints some more impressive surges. While it is arguably hard to predict how high Bitcoin’s price will end the year, one certainty is that the will grow as we approach the early January approval window date, and as such, drive price action.With the outlook of Bitcoin, tons of analysts have weighed in on what the price of the coin might be moving forward. One of the most popular such predictions in recent times came from popular investor and Blockstream CEO Adam Back, who noted that the rally .With a 90% probability projection that a spot Bitcoin ETF will be approved by the SEC, the Bitcoin extreme greed designation might stay for much longer.This article was originally published on U.Today More

Schiff, a seasoned economist and gold enthusiast, expressed concerns about a potential Supreme Court ruling that could redefine income and tax unrealized appreciation, posing a threat to property rights. Novogratz, a well-known Bitcoin proponent, responded sarcastically, marking an unusual moment of agreement between the two.In Schiff’s view, this legal shift could force Americans into selling their assets to cover tax liabilities, with the federal government emerging as the likely buyer, paying in near-worthless paper. He warned that such a decision could render the Constitution meaningless, undermine private property rights and provide the legal means for a communist revolution without the need for violence.In response to Schiff’s post, Bitcoin advocate Mike Novogratz surprisingly agreed with the position, punctuating his statement with a laughter emoji. This unexpected alignment of views between the two figures garnered attention in the crypto community, sparking discussions about the potential impacts of government intervention on individual assets.On the other side of the spectrum, Mike Novogratz recently about the crypto industry’s resilience. He acknowledged a significant purge of bad actors during the 2022 market crash and believes that most of them have exited the stage.Novogratz is also one of the proponents who a Bitcoin spot ETF is imminent.This article was originally published on U.Today More

Bitcoin has set a new high in its total number of addresses with a balance.According to on-chain analytics startup , there are now more than 50 million addresses that hold Bitcoin. This represents a significant milestone, which marks 17% growth since the start of the year.The number of total Bitcoin addresses with a balance has seen a steady increase, reaching 50.21 million.The total number of addresses with a balance suggests long-term interest in holding and investing in a given crypto asset.Bitcoin has also seen a continuous increase in total addresses, which refer to all addresses that have ever been created and, at any point, owned a certain crypto asset, including those that still do. This currently stands at 1.25 billion for Bitcoin.At the time of writing, BTC was down 1.41% in the last 24 hours to $43,418.According to crypto analyst , the Bitcoin price sits on stable support at $42,700. This level is significant, as 642,000 wallets have bought 347,000 BTC here. Hence, if the $42,700 support breaks, all eyes will be on the $38,000 level as the next crucial area to watch.On the other hand, should the bullish trend continue, Bitcoin might push toward the next major supply zone at $47,300, where 614,000 wallets hold 427,000 .This article was originally published on U.Today More

As Bitcoin’s dominance rises, it seems to absorb much of the market’s momentum, leaving altcoins like Ethereum to trail in its wake. This dynamic is evident in Ethereum’s price movements, which, while positive, lack the explosive energy seen in past bull runs. The subdued momentum could be attributed to a range of factors, including the market’s hesitant stance on DeFi platforms, which have not regained the explosive popularity they enjoyed in previous cycles.The DeFi sector, which is largely built upon , has shown weak positions amid regulatory scrutiny and a global downturn in investor appetite for riskier assets. This has undoubtedly played a role in tempering Ethereum’s ascent, as the network’s intrinsic value is closely tied to the success and innovation within its ecosystem.However, the burgeoning NFT market provides a glimmer of hope. As interest in NFTs revives, Ethereum stands to benefit from increased transaction volumes and renewed enthusiasm for its blockchain, which underpins much of the NFT market. The potential of Ethereum Improvement Proposal (EIP) 1559, which aims to reduce the volatility of transaction fees, also bodes well for the network’s future utility and investment appeal.Looking ahead, the anticipated upgrade to Ethereum 2.0, which promises improved scalability and energy efficiency, could serve as a bullish catalyst for ETH’s price. Furthermore, the gradual recovery of the NFT space and persistent innovation within the DeFi sector suggest that the current rally could gain fresh momentum, even if the pace at this moment seems tempered.In the shadow of Bitcoin’s impressive surge past the $40,000 mark, XRP’s ascent presents a rather underwhelming narrative. As Bitcoin broke numerous resistances, XRP’s attempt at a rally seemed too tentative, which might be a bearish signal for the asset that has failed to gain any positions.Technical analysis of chart reveals its struggle to maintain upward momentum. After a spike that captured the market’s attention, the price action has since been contained, with XRP facing resistance that it seems unable to break decisively. The moving averages, typically a sign of potential future movement, have converged in a narrow band, suggesting a lack of strong market direction and investor indecision.The relative strength index (RSI), a measure of market momentum, remains in a neutral zone, neither overbought nor oversold, underscoring the absence of a clear trend. This indecisiveness in the market is compounded by XRP’s volume metrics, which have not displayed the surge required to back a robust rally, further solidifying the notion that the recent price action is uninspired and lackluster.Market sentiment toward is between cautious and bearish, reflecting concerns over ongoing regulatory challenges and market positioning. While XRP has a loyal community and a firm standing among the top cryptocurrencies by market capitalization, its recent performance suggests a bearish phase. Without a significant catalyst or change in market dynamics, XRP may continue to languish in its current range, overshadowed by the more dynamic movements of its peers like Bitcoin.This article was originally published on U.Today More

The talks now cover custody arrangements, creation and redemption mechanisms, and investor risk disclosures. A potential Bitcoin ETF approval could open access for investors through the regulated stock market, with expected demand reaching $3 billion in the initial days. Thirteen firms, including Grayscale Investments, BlackRock (NYSE:BLK), Invesco, and ARK Investments, have pending ETF applications. The SEC, historically cautious about bitcoin ETFs due to investor protection concerns, has engaged in substantive discussions following a court ruling in August that deemed its rejection of Grayscale’s ETF application incorrect. The SEC’s final decision on ARK’s filing, the first in line, is due by January 10, and the advanced nature of discussions hints at possible approval in the New Year. The ongoing talks have coincided with a recent surge in Bitcoin prices to a 20-month high. More

The new version introduces preliminary support for an optional v2 protocol, known as BIP324, to optimize peer-to-peer connectivity without compromising existing legacy protocol operations. This measure is expected to bolster defenses against eclipse attacks, which can isolate a node from the rest of the network, thereby compromising its functionality.In addition to security upgrades, Bitcoin Core v26.0 integrates loadtxoutset RPC (NYSE:RES) to expedite node bootstrapping using UTXO snapshots. This development is anticipated to reduce synchronization times significantly, offering a more efficient experience for users joining the network.RPC improvements in this update also enhance the monitoring of node synchronization through getchainstates and provide advanced Taproot integration for wallets, further strengthening the overall Bitcoin infrastructure.Looking ahead, developers have indicated that the forthcoming v27 update may address the issues caused by Bitcoin Ordinals—unique satoshis that have led to blockchain bloat and elevated transaction fees by exploiting vulnerabilities in transaction data size limits since 2013. These Ordinals have been encoded with extra data disguised as program code, circumventing existing restrictions.Despite a minor drop of 5.2% following the release, ORDI—a notable BRC-20 token linked to Ordinals—has experienced a remarkable surge of approximately 680% over the past month.The community remains divided on the value of Ordinals. Some see them as a creative expression within the Bitcoin ecosystem, while others argue for preserving Bitcoin’s primary function as a digital currency free from such burdensome innovations.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The positive momentum extended beyond individual cryptocurrencies, with crypto-related funds showcasing bullish sentiment. The Bitwise Crypto Industry Innovators ETF and Amplify Transformational Data Sharing ETF both reported gains, while the Grayscale Bitcoin Trust surged, further indicating investor confidence in the sector.Despite the overall market growth, some assets experienced a downturn. Uniswap and Ethereum saw their values dip, and shares of Coinbase (NASDAQ:COIN) Global Inc. fell by 1.2%. Similarly, MicroStrategy Inc. and Riot Platforms (NASDAQ:RIOT) saw slight decreases in their share prices, contrasting with Marathon Digital (NASDAQ:MARA) Holdings’ shares which moved upwards.Tech companies with cryptocurrency exposure also enjoyed share growth, including Block Inc., Tesla (NASDAQ:TSLA) Inc., PayPal (NASDAQ:PYPL) Holdings, NVIDIA Corp (NASDAQ:NVDA)., and Advanced Micro Devices (NASDAQ:AMD).This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More