Why is Dogecoin price down today?
DOGE’s price may decline another 25% by February due to a convincing technical pattern.
Bhutan economic hub to set up strategic crypto reserve
Bhutan’s Gelephu Mindfulness City wants to set up a strategic reserve with several established cryptocurrencies.
Why is XRP price down today?
XRP, the native cryptocurrency of the Ripple network, has been facing a downward trend in its price today. As of writing, XRP is down by 5%, trading at $0.50 per coin. This decline in price can be attributed to a combination of onchain metrics and a weakening technical setup, which are signaling a bearish outlook for the altcoin.
One of the key onchain metrics that is contributing to the bearish sentiment around XRP is the decrease in daily active addresses. This metric measures the number of unique addresses that are actively transacting on the network. According to data from Glassnode, the number of daily active addresses for XRP has been steadily declining since the beginning of the year, indicating a decrease in network activity and potentially a lack of interest from investors.
In addition, the technical setup for XRP is also showing signs of weakness. The altcoin has been trading below its 200-day moving average for the past few weeks, which is a bearish signal for traders. Furthermore, the Relative Strength Index (RSI), a popular technical indicator, is also showing a bearish divergence, suggesting that the selling pressure may continue in the near future.
Despite these bearish signals, some analysts believe that XRP may still have some potential for a rebound. The altcoin has been consolidating in a range between $0.50 and $0.60 for the past few weeks, and if it can break out of this range, it could potentially see a bullish rally. However, this would require a strong catalyst, such as a positive news announcement or a market-wide uptrend.
In conclusion, XRP is currently facing a bearish outlook due to a combination of onchain metrics and technical indicators. However, there is still a possibility for a rebound if the altcoin can break out of its current consolidation range. As always, investors should do their own research and consider the risks before making any investment decisions.
Kazakhstan shut down 36 illegal crypto exchanges in 2024 crackdown
In 2024, Kazakhstan made a bold move in its fight against illegal cryptocurrency exchanges. The country took action against 36 such exchanges, effectively shutting them down and seizing a whopping $112 million in assets. This move not only serves as a warning to those who engage in illegal crypto activities, but also showcases Kazakhstan’s commitment to combatting money laundering.
The crackdown on these exchanges comes at a crucial time for Kazakhstan, as the country prepares to launch its own digital currency, the tenge. With the rise of cryptocurrencies, it has become increasingly important for governments to regulate and monitor these digital assets to prevent illegal activities such as money laundering and terrorist financing.
Kazakhstan’s efforts to tackle illegal crypto exchanges are part of a larger initiative to strengthen its Anti-Money Laundering (AML) measures. The country has been working closely with international organizations and experts to develop a robust AML framework that will not only protect its citizens but also promote a safe and transparent financial system.
The closure of these exchanges is a significant step towards achieving this goal. By shutting down these illegal operations, Kazakhstan is sending a clear message that it will not tolerate any form of financial crime. This move also serves as a warning to other countries that may be struggling with similar issues, showcasing Kazakhstan as a leader in the fight against illegal crypto activities.
Furthermore, the seizure of $112 million in assets is a major blow to those involved in these illegal exchanges. It not only serves as a deterrent but also highlights the potential consequences of engaging in such activities.
As Kazakhstan prepares to launch its digital tenge, it is evident that the country is taking all necessary measures to ensure a safe and secure transition into the world of digital currencies. With its strong stance against illegal crypto exchanges, Kazakhstan is setting an example for other countries to follow in the fight against financial crime.
How Hyperliquid’s insanely lucrative airdrop launch changed the game
Hyperliquid, a decentralized finance platform, has made waves in the crypto community by airdropping a whopping 28% of its HYPE token supply to early users. This unprecedented move has caused a stir in the market, with the airdrop now worth over $7 billion, making it the most valuable airdrop in history.
For those unfamiliar with airdrops, they are a popular marketing tactic used by blockchain projects to distribute free tokens to a targeted audience. This helps to create buzz and attract new users to the platform. However, airdrops are usually small in scale, with only a fraction of the token supply being distributed.
But Hyperliquid has taken a bold and generous approach by airdropping such a large percentage of its token supply. This move has not only caught the attention of the crypto community but has also sparked discussions about the potential impact on the project’s future.
The HYPE token, which is the native token of the Hyperliquid platform, has seen a surge in value since the airdrop. This has resulted in early users receiving a significant windfall, with some estimates putting the value of the airdrop at over $7 billion.
This airdrop has also raised questions about the sustainability of such a large distribution of tokens. Will it dilute the value of the HYPE token in the long run? Or will it attract more users and drive the platform’s growth?
Only time will tell the true impact of this unprecedented airdrop. But one thing is for sure, Hyperliquid has made a bold move that has captured the attention of the crypto world. With its innovative approach and generous distribution of tokens, Hyperliquid is definitely a project to keep an eye on in the ever-evolving world of decentralized finance.
US Fed money printing could spur Bitcoin rally in Q1 2025 — Hayes
As the world of cryptocurrency continues to evolve and gain mainstream attention, there are two major factors that are currently shaping the future of Bitcoin: the incoming Trump administration’s stance on crypto regulations and the US Federal Reserve’s monetary policy decisions.
Firstly, the Trump administration’s approach to regulating cryptocurrencies has been a topic of much speculation and debate. With the recent appointment of Mick Mulvaney, a known Bitcoin supporter, as the new White House Chief of Staff, there is hope that the government will take a more positive stance towards digital currencies. However, there are also concerns that the administration may impose stricter regulations, which could potentially hinder the growth and adoption of Bitcoin.
On the other hand, the decisions made by the US Federal Reserve, the country’s central bank, also have a significant impact on Bitcoin’s price. The Fed’s monetary policy, which includes setting interest rates and controlling the money supply, can greatly influence the value of traditional currencies and, in turn, affect the demand for Bitcoin. For example, if the Fed decides to raise interest rates, investors may be more inclined to hold onto traditional currencies rather than invest in Bitcoin, causing its price to drop.
As we enter a new year, the crypto community is closely watching how these two factors will play out and how they will ultimately affect the price of Bitcoin. Will the Trump administration provide a more favorable environment for cryptocurrencies to thrive? Will the Fed’s monetary policy decisions continue to impact Bitcoin’s volatility? These are questions that are on the minds of many investors and enthusiasts.
Despite the uncertainty, one thing is for sure: Bitcoin’s future is closely tied to the actions and decisions of these two influential entities. As the crypto market continues to mature, it is crucial for both the government and the central bank to carefully consider their approach towards digital currencies in order to ensure a stable and prosperous future for Bitcoin and the entire cryptocurrency industry.
Bitcoin hourly RSI falls to most 'oversold' since $60K BTC price
BTC price weakness has an instant impact on RSI, which crashed to “oversold” levels not seen since early October.
Musk, Crypto leaders back Poilievre as Trudeau announces exit
The upcoming Canadian election has caught the attention of the crypto community, with many showing their support for pro-Bitcoin candidate Pierre Poilievre. According to Polymarket, Poilievre has an 89% chance of winning the election, making him a strong contender for the position.
As the world continues to embrace the potential of cryptocurrency, it’s no surprise that Poilievre has gained a significant following within the industry. With his pro-Bitcoin stance, he has captured the attention of many who see him as a potential advocate for the digital asset in the political arena.
But what exactly makes Poilievre a strong candidate for the crypto community? For starters, he has been vocal about his support for Bitcoin and other cryptocurrencies, recognizing their potential to revolutionize the financial landscape. He has also been critical of government overreach and excessive regulations, which are often seen as barriers to the growth of the crypto industry.
In addition to his stance on cryptocurrency, Poilievre’s track record as a politician is also impressive. He has served as a Member of Parliament for over 16 years and has held various positions, including Minister of State for Democratic Reform and Minister of Employment and Social Development. This experience and knowledge of the political landscape make him a strong candidate to represent the interests of the crypto community.
With the Canadian election just around the corner, the crypto industry is eagerly watching and supporting Poilievre’s campaign. If he does win, it could be a significant step forward for the adoption and recognition of cryptocurrency in the country. Only time will tell, but one thing is for sure – Poilievre has the backing of many in the crypto world, and his potential victory could have a positive impact on the industry.
Why is the crypto market down today?
The cryptocurrency market experienced a sudden drop as Bitcoin failed to break through the $100,000 mark, despite a strong start to the week. This unexpected turn of events came after the release of positive economic data from the United States, which caused investors to shift their focus away from digital assets.
Bitcoin, the leading cryptocurrency, had been on a steady upward trend, with many experts predicting that it would reach the coveted $100,000 milestone in the near future. However, as the US economy showed signs of recovery, with reports of strong job growth and increased consumer spending, the market sentiment shifted and investors turned their attention to traditional assets.
This shift in focus caused a ripple effect throughout the entire crypto market, with other major cryptocurrencies such as Ethereum and Litecoin also experiencing a decline in value. This sudden drop serves as a reminder of the volatile nature of the cryptocurrency market, where external factors can have a significant impact on prices.
Despite this setback, many experts remain optimistic about the long-term potential of cryptocurrencies. The recent surge in institutional adoption and mainstream acceptance of digital assets has solidified their position as a legitimate asset class. Furthermore, the ongoing development of blockchain technology and the potential for widespread adoption in various industries continue to fuel the growth of the crypto market.
As the market continues to evolve and mature, it is important for investors to remain vigilant and informed about the latest developments and trends. While short-term fluctuations may occur, the long-term outlook for cryptocurrencies remains promising. As always, it is crucial to do thorough research and consult with financial experts before making any investment decisions in the ever-changing world of cryptocurrencies.
What are quantum-resistant tokens and why do they matter for crypto?
Quantum-resistant tokens are the latest innovation in the world of cryptocurrency, offering a new level of security and protection against potential threats. These tokens utilize advanced cryptography techniques that are specifically designed to withstand attacks from powerful quantum computers, ensuring the safety and integrity of your digital assets.
With the rapid advancement of technology, the threat of quantum computers has become a growing concern for the cryptocurrency community. These supercomputers have the potential to break traditional encryption methods, making it easier for hackers to steal sensitive information and access digital wallets. This poses a significant risk for those who hold large amounts of cryptocurrency, as they could potentially lose everything in a matter of seconds.
To combat this threat, quantum-resistant tokens have emerged as a solution. These tokens use a form of cryptography known as post-quantum cryptography, which is specifically designed to resist attacks from quantum computers. This means that even if quantum computers become a reality in the future, your crypto assets will remain safe and secure.
One of the key features of quantum-resistant tokens is their ability to adapt and evolve as technology advances. This means that they can be updated and improved to stay ahead of potential threats, providing a long-term solution for protecting your digital assets. Additionally, these tokens are decentralized, meaning they are not controlled by any central authority, making them even more secure and resistant to attacks.
Investing in quantum-resistant tokens not only offers peace of mind for current crypto holders, but it also opens up new opportunities for the future. As the threat of quantum computers continues to grow, these tokens are likely to become more valuable and sought after, making them a smart investment choice.
In conclusion, quantum-resistant tokens are a game-changer in the world of cryptocurrency, offering a high level of security and protection against potential threats. With their advanced cryptography and ability to adapt to future technology, these tokens provide a safe and reliable option for storing and investing in digital assets. Don’t wait until it’s too late, consider adding quantum-resistant tokens to your crypto portfolio today.