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Bitcoin's price dipped below $90,000 for the first time since mid-November, reaching a low of $89,800 amid growing doubts about Federal Reserve rate cuts. Market participants are adjusting to a strong labor market, which has led to speculation that the Fed's easing cycle may be over, impacting risk assets like cryptocurrencies. Despite the current volatility, some analysts remain cautiously optimistic about Bitcoin's performance in the first fiscal quarter of 2025.
As Ethereum's breakout approaches, altcoin season is expected to bring significant gains, with cryptocurrencies like Pepe, Chainlink, Shiba Inu, and Uniswap poised for strong performance. Remittix, a promising financial utility gem, is attracting attention for its innovative approach to international money transfers, potentially offering substantial returns for early investors. With a focus on security and efficiency, Remittix aims to reshape the global payment landscape, supporting over 40 cryptocurrencies and streamlining payroll processes for businesses.
Singapore has blocked access to Polymarket, a blockchain-based prediction market, under the Gambling Control Act 2022, citing it as an illegal gambling site. Users attempting to access the platform received a warning, with penalties for using unlicensed services including fines and imprisonment. The Gambling Regulatory Authority oversees gambling operations, and Singapore has previously blocked thousands of gambling websites to curb unlicensed activities.
Chainalysis has acquired AI fraud detection startup Alterya for $150 million, marking its entry into artificial intelligence. This acquisition aims to enhance real-time fraud protection for payments and improve detection during the Know Your Customer process for exchanges and wallet providers. Alterya, which has contracts with major players like Coinbase and Binance, has monitored over $8 billion in transactions monthly, addressing the rising threat of fraud in the financial services sector.
MoonPay has acquired Helio, a leading Solana-based payment processor, for $175 million to enhance its crypto offerings. Helio has facilitated over $1.5 billion in transactions in three years, and this acquisition will strengthen MoonPay's role as a bridge between traditional and decentralized finance.In addition, MoonPay has formed partnerships with PayPal and Venmo, enabling users to purchase cryptocurrencies through traditional payment methods, while also supporting crypto payments on platforms like Shopify and Discord.
Chainalysis has acquired Israeli AI startup Alterya for $150 million to enhance its crypto security measures. Alterya, which specializes in fraud detection, has secured contracts with major players like Binance and Coinbase, and has already helped reduce fraud by 60% for top exchanges. This acquisition allows Chainalysis to proactively prevent scams and better track illicit transactions across both crypto and traditional financial systems.
XRP faces increasing selling pressure as whales transfer millions to exchanges, with a notable dump of 30.17 million tokens on Coinbase. The cryptocurrency struggles with resistance around $2.60 and crucial support at $2.30, raising concerns about potential further declines. Meanwhile, emerging projects like Wall Street Pepe (WEPE) and Solaxy (SOLX) present attractive investment opportunities, showcasing the potential of utility-driven coins in the current market landscape.
Bitcoin's price is facing significant downward pressure, having recently broken the $92K support level, which raises the risk of a decline towards $85K and potentially $80K. The Coinbase Premium Index indicates aggressive selling from U.S. investors, suggesting that the correction may continue as bearish momentum persists.
Cardano is exploring a potential integration with the newly launched RLUSD stablecoin, which could significantly impact the value of its native asset, ADA. Founder Charles Hoskinson has praised the RLUSD team and highlighted the importance of a robust stablecoin ecosystem for Cardano's growth. While RLUSD is currently available on Ethereum and the XRP Ledger, discussions are ongoing about its integration into Cardano's Midnight sidechain, which could enhance cross-chain communication and financial stability.
David Schwartz, CTO of Ripple, has issued a warning to the XRP community about sophisticated phishing scams targeting Coinbase users. He shared a fraudulent email urging recipients to click a link to update their account, emphasizing that such communications are scams designed to steal sensitive information. Schwartz's alert highlights the importance of vigilance and common sense in protecting against the increasing frequency of cryptocurrency-related scams.
Coinbase Global, Inc.
Companies
| Symbol | COIN |
| Name | Coinbase Global, Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | DE |
| City | Wilmington |
| Zipcode | 19801 |
| Website | http://www.coinbase.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bitcoin dips below ninety thousand as fed rate cut doubts grow
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