Cryptocurrency

The world’s largest cryptocurrency hit a series of record highs this week, with a rally after Donald Trump’s election win showing few signs of easing.Bitcoin rose 1.9% to $98,870.4 by 01:17 ET (06:17 GMT). The coin hit a record high of 99,289.3 earlier in the session, and was up 9.1% this week. Bitcoin trading was also boosted by the launch of options tracking Blackrock’s iShares Bitcoin Trust (NASDAQ:IBIT) exchange-traded fund, with traders seen piling into call options on the crypto. Bitcoin was within spitting distance of the coveted $100,000 level, after more than doubling in value so far in 2024.Trump was the crypto’s biggest boost this year, given that he had vowed to introduce crypto-friendly regulation in his administration. Trump had promised to make America the “crypto capital of the planet” during his campaign, and had also floated the idea of a Bitcoin national reserve.Media reports this week said Trump was considering a dedicated cabinet position for crypto regulation.Crypto markets were also enthused by Securities and Exchange Commission Chairman Gary Gensler stating he will step down after Trump takes office. Gensler said he will step down on January 20 next year. Gensler had led a harsh crackdown on the crypto industry over the past two years, with the SEC still engaged in long-running suits against Coinbase (NASDAQ:COIN) and Ripple over the nature of cryptocurrencies as securities.XRP, the token issued by Ripple, surged over 27% on Friday on the Gensler news. Traders believe that Gensler’s successor will have a much more lax attitude towards enforcement action, especially under a Trump administration. Trump had vowed to fire Gensler on “day one” of  taking office. Beyond Bitcoin, major altcoins also advanced on Friday, and were set for strong weekly gains amid persistent optimism over crypto.World no.2 crypto Ether rose 8.2% to $3,365.18, and was trading up 7.5% this week.SOL rose nearly 9%, while ADA and MATIC added 13.2% and 6.1%, respectively. Among meme tokens, Dogecoin rose 2.6% and was sitting on a 8.3% gain this week.   More

Shiba Inu, which is currently trading at about $0.00002526, is moving inside the triangle’s boundaries, with lower highs and higher lows forming a distinctive shape. According to the pattern, the asset is gaining steam in preparation for its next significant move. An indication of bullishness for the token would be a breakout from this formation, especially to the upside. The crucial resistance level to keep an eye on for a possible breakout is approximately $0.00002700.SHIB may move toward its most recent high of $0.00003100 if it closes successfully above this level. Support levels at $0.00002233 and $0.00001971, which have traditionally served as a safety net during pullbacks, are located on the downside. SHIB’s trading volume has decreased throughout the consolidation which is a common feature of triangle patterns. However, since volume frequently spikes during such events, this could indicate that a breakout is about to occur.Since SHIB is currently in a neutral zone with room for upward movement without being overbought, the RSI (Relative Strength Index) is at 61. A strong bullish run could be triggered by a breakout above the triangle’s upper trendline, which might enable SHIB to retest and surpass its most recent highs. However, if the lower trendline is broken, there may be a retracement toward the previously indicated support levels.Currently trading close to $97,300, Bitcoin has demonstrated significant bullish momentum in recent weeks. Strong buying pressure and rising market confidence have helped the asset break through important resistance levels such as $72,000 and $82,000. Even though the RSI shows overbought conditions at 80.67, the rally has not slowed, as the volume is still rising, indicating high market participation. Bitcoin has been on an upward trajectory since breaking out of the descending channel earlier this year. The 50-day exponential moving average (EMA) is comfortably above the 100-day and 200-day EMAs, confirming the strength of the current trend. The EMAs are aligned in a bullish configuration.Achieving $100,000 would not only mark a new peak but also a significant change in the way that people view Bitcoin as a long-term store of value. A larger adoption cycle and a new wave of institutional interest could result from such a move. This level is frequently thought of as a psychological barrier that could lead to even higher price targets if it is broken. With the 50-day exponential moving average (EMA) sitting significantly above the 100- and 200-day EMAs, the EMAs continue to indicate bullish momentum and persistent market strength. A possible cooling-off period may be indicated by the RSIs hovering in the overbought zone at 74.42. However, fueled by high trading volumes that suggest active market participation, Solana has proven resilient in sustaining its bullish trajectory. Since the asset is getting close to crucial psychological and technical levels, a retracement is still possible despite the optimism.It would consolidate gains and give new buyers a chance to enter the market if there were a healthy pullback to support zones around $210 or $180. Whether Solana can continue to climb or experience brief setbacks will depend on these levels. If Solana keeps up its current rate, it will reach the $300 milestone. Strong volume above $250 could serve as a launching pad for additional gains. Investors should monitor Bitcoin’s performance and the state of the market more broadly, though, as these factors may have a significant impact on Solana’s future.This article was originally published on U.Today More

Among those celebrating Bitcoin’s spectacular surge is MicroStrategy’s chairman and cofounder Michael Saylor, a long-time advocate of the cryptocurrency.In a tweet, Saylor wrote, “We’re going to need a bigger rocket. Bitcoin,” perfectly capturing the excitement of the moment.For MicroStrategy, which touts itself as the world’s first and largest Bitcoin treasury company, this implies a validation of its bold investment strategy. As of Nov. 18, MicroStrategy held 331,200 BTC acquired for about $16.5 billion at nearly $49,874 per Bitcoin.Cryptocurrency exchange Coinbase (NASDAQ:COIN) stock gained 3% in premarket trading, while MicroStrategy, which trades as a Bitcoin proxy, rose 11%. Mining stocks increased as well, with Mara Holdings up 9%.Bitcoin has consistently set new records since the start of November, though in smaller increments. This most recent price increase might have been prompted by an increase in funding rates and open interest on the futures market during the Asian trading day. Around the same time, spot market premiums decreased, according to CryptoQuant data.Bitcoin’s recent price gains spurred a wave of short liquidations, totaling more than $95 million in the last 24 hours, according to CoinGlass, propelling the price higher overnight. The entire cryptocurrency market saw $495 million in liquidations. Bitcoin has increased by more than 130% in 2024.This article was originally published on U.Today More

The firm highlights Robinhood’s (NASDAQ:HOOD) unique position to capitalize on a potentially pro-crypto SEC under a Trump administration, which could clear the path for significant revenue growth.Despite its share price already surging 170% year-to-date, Bernstein sees further upside. “HOOD has so far operated a regulatory-constrained crypto business,” the analysts noted, listing only 15 tokens compared to over 250 on Coinbase. They note that the current SEC’s hawkish stance has limited Robinhood’s ability to monetize its crypto offerings through staking, lending, and other revenue-generating services.This could change as Bernstein anticipates regulatory tailwinds under a pro-crypto environment, enabling Robinhood to expand its token listings and introduce new crypto revenue streams. Recently, Robinhood added four tokens, including SOL, ADA, XRP, and PEPE, bringing its total to 19—a move viewed as a precursor to further expansion.Bernstein estimates a 20% increase in Robinhood’s 2025 crypto revenue compared to prior forecasts, driven by market share gains and the rollout of new services. The company’s acquisition of Bitstamp and the launch of its EU crypto platform are also expected to accelerate its entry into staking, stablecoin access, and lending.The analysts project Robinhood’s 2025 revenues to reach $4.19 billion, with over $1.3 billion in earnings as the company leverages its predominantly fixed operating costs. Bernstein values Robinhood at 10.8x its 2025 revenues and 33x its 2025 earnings, reflecting the average multiples for crypto and fintech peers.With crypto deregulation on the horizon, Bernstein concludes that they “expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds,” offering a potential 46% upside from current levels. More

Integration to enhance DeFi use cases on Aptos, expand interoperability, and streamline global payment solutions for merchants.Aptos Foundation today announced the upcoming integration of Circle’s native USDC and Cross-Chain Transfer Protocol (CCTP) on the Aptos Network, as well as Stripe adding support for Aptos in its crypto products. These integrations make Aptos the home for interoperable DeFi and the fastest, cheapest, and most reliable enterprise-grade blockchain, further expanding its global financial ecosystem. The integration of Aptos into Stripe’s crypto onramp and payouts products, paired with native USDC, will provide reliable fiat on and off-ramps for the Aptos network, streamline merchant pay-ins and payouts, and offer a seamless connection between traditional finance and blockchain technology. Today, USDC is the largest regulated dollar-backed stablecoin with over $37B in circulation. With more than $160M in circulation on Aptos, bridged USDC is the most prevalent stablecoin available on the network. With this integration, native USDC will be issued through the regulated entities of Circle directly on the Aptos network and CCTP will enable developers to design cross-chain experiences by connecting their Aptos apps to the network of supported blockchains. Bridge providers such as Stargate, built on LayerZero, will provide a smooth transition from the existing bridged USDC on Aptos to native USDC over time. There are no immediate changes to the AptosBridge built on LayerZero, and it will continue to operate as normal. Additionally, ahead of the native launch of USDC, bridged USDC from the AptosBridge will be renamed to “lzUSDC” on block explorers. There will be outreach to ecosystem apps to encourage them to make the same change in their app UI and documentation.The launch of CCTP will bring new levels of interoperability to DeFi on Aptos, enabling secure and efficient native USDC transfers. With the addition of Aptos, CCTP will support nine blockchains – including Arbitrum, Base, Ethereum, and Solana —and 72 routes with 1:1 capital efficiency. This move will allow for seamless cross-chain onboarding, swaps, purchases, treasury rebalancing, and more – all while maintaining an accessible and intuitive user experience.With the addition of Aptos to Stripe’s crypto products, users will be able to seamlessly convert fiat currencies into USDC, directly through Aptos-enabled wallets. This integration will enable the use of USDC for Stripe’s global network of businesses. The combination of Stripe’s payment tools and Aptos’ scalable network unlocks new opportunities for global merchants and payment providers to process transactions faster, more securely, and at lower costs.About Aptos FoundationAptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized network and ecosystem and driving engagement with the Aptos ecosystem. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralization to the masses.About Aptos NetworkAptos is a next-generation Layer 1 blockchain. Aptos’ breakthrough technology and programming language, Move, are designed to evolve, improve performance and strengthen user safeguards. Please visit https://www.aptosfoundation.org for more information on the Aptos blockchain.About CircleCircle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Through its regulated entities, Circle is the issuer of USDC and EURC – highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Users can learn more at https://circle.com.About StripeStripe is a financial infrastructure platform for businesses. Millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Headquartered in San Francisco and Dublin, the company aims to increase the GDP of the internet.ContactCommunications LeadHannah NoyesAptos Labshannah@aptoslabs.comThis article was originally published on Chainwire More

WASHINGTON – The Securities and Exchange Commission (SEC) announced the upcoming departure of its Chair, Gary Gensler, who will leave the agency at noon on January 20, 2025. Gensler, who began his term on April 17, 2021, has been at the helm of the SEC during a period of significant rulemaking and enforcement designed to enhance the U.S. capital markets’ efficiency, resilience, and integrity.Under Gensler’s leadership, the SEC has implemented major reforms across various sectors of the financial markets. In the Treasury markets, the SEC adopted rules to promote central clearing and narrow broker-dealer exemptions from registration, targeting a reduction in costs and risks. Equity markets saw their first substantial updates in nearly two decades, with unanimous approval for changes to the National Market System, including more efficient trading, narrower spreads, lower fees, and a shortened settlement cycle.Gensler’s tenure also emphasized the robustness of financial systems, with amendments to Form PF requiring certain investment advisers to report significant events promptly. Money market funds underwent reforms to bolster their liquidity and transparency, especially during market stress.In corporate governance, the SEC updated insider trading rules, executive compensation recovery policies, and shareholder voting procedures. New rules were also adopted to require more timely disclosures by those acquiring significant company stakes.The SEC’s focus on investor information led to the adoption of rules enhancing disclosures on cyber and climate risks, data breaches, and the operations of special purpose acquisition companies (SPACs). The agency also increased market transparency by publishing aggregate data on investment funds and advisers.Accounting and auditing oversight saw progress as well, with the Public Company Accounting Oversight Board (PCAOB) updating numerous standards and securing a protocol with Chinese authorities for the inspection and investigation of auditors of China-related companies listed in the U.S.Enforcement actions during Gensler’s term resulted in approximately $21 billion in penalties and disgorgement, with over $2.7 billion returned to harmed investors. The SEC also continued to address investor protection in the crypto markets, bringing actions against intermediaries for various violations.Gensler’s career has included roles as Chair of the U.S. Commodity Futures Trading Commission, senior advisor to U.S. Senator Paul Sarbanes, and professor at the MIT Sloan School of Management. He has been recognized with the Alexander Hamilton Award, the U.S. Treasury’s highest honor, among other accolades.The announcement of Gensler’s departure comes as part of a statement from the SEC, reflecting on the Chair’s contributions and the agency’s advancements during his tenure.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, releases a special quarterly report delving into post-election dynamisms and market outlook as crypto investors embraces America’s first “crypto president”. The long-form report also looks ahead at what comes next, noting an “insatiable” appetite for BTC exposure among institutional investors. However, the report proposes that institutions’ bullish buy-ins of BTC may not immediately spill over into altcoins—for want of viable options in the current ETF ecosystem. Overall, investors are betting on more Trump trades, positive economic prospects, and possibilities of further rate cuts, all of which could positively guide the path forward of BTC with its strengthening correlation with macro assets. Key Insights:Trump rebranded as the “crypto president”: Trump’s dramatic return to office marks a striking shift in his posture on crypto. Previously a skeptic, if not a critic, he centered his 2024 campaign on advocating for BTC. This reversal carries significant implications for U.S. policy and regulatory frameworks, as the world’s largest economy switches gears to take a leadership role in the digital assets space. Market profits on prospective political gains: The post-election premium propelled BTC prices to rally from around $70k to over $90k within weeks. This intense volatility is seen not merely as speculative but as a broader reflection of market sentiment aligning with optimistic political developments. Regulatory outlook: Impactful crypto regulatory reforms are on the table with a Republican majority in the U.S. Congress. Targeted political spending during the election reshaped legislative priorities, particularly in key Senate races. As pro-crypto lawmakers take office, changes are in the air for crypto hopefuls seeking clarity and a pro-investment climate in the regulatory sphere. Altcoins Rising: With its dominance, BTC rallies often entail potential gains in ETH and SOL. Historically, Bitcoin’s dominance peaks during bull markets, followed by a shift of capital into altcoins as investors pursue higher returns. With the incoming administration’s pro-crypto stance, networks enabling smart contracts and decentralized finance (DeFi) may attract renewed interest as legislative focus on innovation in the cryptocurrency sector could accelerate investment in altcoins.Trump’s triumph marks a pivotal moment for crypto, bringing potential regulatory clarity and increased market engagement. As the stars align for the crypto industry politically and financially, market participants anticipate a transformative period with marked volatility, offering both new opportunities and challenges.Users can access the Full Report here. #Bybit / #TheCryptoArk /#BybitResearchAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

Ike is proud to announce the official launch of its Liquid Staking Token (LST), sA0, on Aleph Zero. This milestone provides the Aleph Zero community with a new way to engage with the network by offering staking flexibility without compromising on rewards.What Is sA0?sA0 is Ike’s native Liquid Staking Token, designed to enhance the staking experience on Aleph Zero. With sA0, users can stake their AZERO tokens to support network security and earn rewards, all while keeping their assets liquid. This means they can use sA0 tokens across Aleph Zero’s ecosystem, unlocking new opportunities for participation and growth. Meaning, sA0 empowers users to “stake and use” at the same time. sA0 BenefitsThe launch of sA0 is a significant step in Ike’s roadmap toward progressive decentralization. Ensuring most of the slots are open for permissionless entry when governance live, Ike launched with 7 initial validators including Deutsche Telekom (OTC:DTEGY) & STC Bahrain. As part of this journey, Ike will soon introduce community-driven governance features, including permissionless validator registration, initially scaling to have 30 slots with a fully transparent on-chain bonding process. This will enable a dynamic and competitive validator ecosystem, with the community playing a central role in decision-making.Stephen Novenstern, Founder at Ike, commented:With sA0 now live, Ike invites the Aleph Zero community to explore the benefits of liquid staking. In the coming months, Ike will focus on expanding the utility of sA0 within the ecosystem and rolling out governance features that further empower the community to shape its future. Users can see more in the Ike Docs here. About IkeIke is the home of the sA0 Liquid Staking Protocol smart contracts live on Aleph Zero WASM. Together with the community, validators, and other builders in the ecosystem, they are fundamentally reshaping the network, delivering liquidity at the base layer, composable rewards, increasing participation and ultimately enhancing network security. Drawing inspiration from the Japanese art of Ikebana, Ike is committed to fostering a harmonious and resilient ecosystem. By providing users with flexibility and liquidity in their staking journey, Ike empowers the Aleph Zero community to unlock the full potential of their assets while contributing to the network’s growth and stability.Users can stay updated on the latest developments and engage with other like-minded individuals by joining the Ike Discord community and following on Twitter.ContactDirector of GrowthAlexios KonstantinidisIkehello@ike.xyzThis article was originally published on Chainwire More