Crypto liquidations exceeded $1 billion in 24 hours, primarily affecting long positions, as traders were unprepared for negative market shifts after a bullish month. Analysts suggest this downturn may be temporary, with expectations for a potential "Santa rally" and increased volatility as the market anticipates the incoming Trump administration's impact on crypto policy.
XRP is showing signs of a potential surge, currently trading at $2.21 with a nearly 5% gain in the past 24 hours. Analysts are optimistic, citing the Bollinger Bands indicating a possible 490% price increase, potentially reaching an all-time high of $10.82, while some predict even higher gains if historical patterns hold. The outlook is further bolstered by anticipated regulatory changes under the incoming Trump administration, which may resolve ongoing legal issues affecting Ripple Labs and the SEC.
Dogecoin has been in a correction phase since early December after peaking near $0.48. The RSI recently climbed to 90%, mirroring patterns from the 2021 bull market, but the current price decline has been less severe, suggesting greater stability. Key date to watch is January 2, with the price currently at $0.362, down 5% in 24 hours.
The SEC has approved two groundbreaking ETFs: the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF, which combine spot Bitcoin and Ethereum for balanced exposure. This approval marks a significant step for crypto investing, reflecting regulators' growing recognition of the market's potential. By linking futures to spot prices and adhering to strict guidelines, these ETFs aim to enhance investor security and accessibility in the evolving digital currency landscape.
Wesfarmers has sold its industrial gas supplier Coregas as part of a strategy to recycle assets and fund future acquisitions. Despite a cash boost, the company's price-to-earnings ratio has risen to around 32, leading to a 2.5% drop in share price as investors reassess growth prospects. Analysts suggest the firm’s diversified revenue streams offer stability, but caution that high valuations may prompt investors to reconsider their holdings.
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Ethereum's price has plunged over 7%, dropping below the $3,680 mark and struggling to maintain levels above $3,550. Currently, it faces significant resistance at $3,650, with potential further declines if it fails to hold above the $3,320 support level. Key resistance levels are identified at $3,715 and $3,800, while initial support is near $3,350.
Ethereum's investor sentiment has plummeted to its lowest point in over a year, sparking concerns amid market uncertainty. Despite this, analysts predict a potential rally, citing historical patterns where extreme pessimism precedes significant price surges. The $4,000 resistance remains a critical hurdle, with a breakthrough potentially leading ETH toward $5,000, while maintaining support at $3,800 is essential to avoid deeper corrections.
Qubetics is emerging as a transformative force in blockchain development with its user-friendly QubeQode IDE, enabling developers to create applications without complex coding. The ongoing presale of $TICS tokens has generated significant excitement, with a potential ROI of over 630% as prices rise weekly. As interest in Qubetics grows, it stands out alongside established players like Chainlink and Tron, positioning itself as a top contender in the crypto space for 2024.
In a bullish cryptocurrency market, Lightchain AI (LCAI) stands out as a promising investment during its presale, which runs from November 25, 2024, to June 1, 2025. With a unique integration of AI and blockchain, it addresses scalability and decentralization issues that have plagued Solana, making LCAI tokens available at an attractive price of $0.003. As the platform aims to revolutionize sectors like finance and healthcare, its potential for significant returns is drawing investor interest.
Roman Storm, co-founder of Tornado Cash, has requested a federal judge to dismiss his criminal charges following a Fifth Circuit Appeals Court ruling that deemed sanctions against the platform's smart contracts unlawful. Storm argues that the court's opinion undermines the charges of conspiring to violate the International Emergency Economic Powers Act, asserting that the smart contracts are not property of any foreign entity and cannot be sanctioned. He also contends that Tornado Cash is not a financial institution, further challenging the charges of operating an unlicensed money-transmitting business and money laundering conspiracy.
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