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BVNK has raised $50 million in a Series B funding round to expand its stablecoin operations into the US, targeting San Francisco and New York City. Meanwhile, Coinbase faces a $1 billion lawsuit from BiT Global over its delisting of Wrapped Bitcoin, which BiT alleges is an anticompetitive move. Additionally, Deutsche Bank is developing a layer-2 blockchain on Ethereum to enhance compliance in regulated finance, while Tether's USDT continues to be traded across European exchanges despite Coinbase's delisting.
Luigi Mangione, charged with the murder of UnitedHealth Group CEO Brian Thompson, has been placed in the same Brooklyn jail as FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for his role in the crypto exchange's collapse. Additionally, hip-hop artist Sean "Diddy" Combs, facing racketeering and sex trafficking charges, is also housed at the facility and has hired one of Bankman-Fried's lawyers for his appeal.
Ethereum's price has dropped over 7%, falling below $3,550 and establishing a new low at $3,324. A resistance level has formed at $3,650, with increased selling pressure evident as the market struggles to maintain support, particularly around $3,350 and $3,320. Technical indicators suggest a bearish trend, with potential further declines if key support levels fail.
Solana (SOL) has emerged as a leading cryptocurrency, known for its high-speed transactions and expanding ecosystem, despite facing challenges like network outages and market volatility. As of December 2024, SOL is priced around $182.35, with predictions suggesting potential recovery to previous highs if technical issues are resolved and market conditions improve. The future of Solana hinges on its ability to enhance network stability and maintain user adoption amidst competition from other blockchain platforms.
Dogecoin (DOGE) has experienced a significant decline, dropping below the $0.3550 support level and struggling to recover. After reaching a low of $0.30, the price is consolidating but faces resistance at $0.3550 and $0.3650. If it fails to break above these levels, further losses could push DOGE towards $0.280 or $0.2620.
XRP price remains resilient, holding above the $2.20 support level while consolidating below $2.40. A bearish trend line at $2.35 poses resistance, but a breakout above $2.40 could lead to gains towards $2.50 and beyond. Conversely, failure to breach this resistance may trigger a decline towards $2.20 and potentially $2.05.
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.
Bitcoin's price has continued to decline, trading below the $100,000 mark and struggling to maintain momentum. Currently, it faces resistance at $98,500, while immediate support is near $95,500, with potential further declines toward the $92,000 level if bearish trends persist. Technical indicators show increasing bearish momentum, suggesting a challenging outlook for bulls.
Kraken has launched Ink, its Layer-2 blockchain on the Ethereum mainnet, ahead of the planned Q1 2025 release. The platform aims to enhance DeFi by bridging users and developers, featuring over 8 million transactions during its test phase and plans for a permissionless proof-of-error system to boost accountability and security. Ink leverages Optimism’s OP Stack, receiving a $58 million grant, while Kraken navigates recent regulatory challenges.
Ink Chain has launched its mainnet ahead of schedule, partnering with RedStone to enhance its DeFi ecosystem with real-time price feeds. Built on the Optimism Superchain, Ink aims to facilitate the development of next-generation DeFi applications while ensuring low fees and fast transactions. Meanwhile, Pepe coin has experienced a significant decline, invalidating bullish patterns amid broader market losses and a drop in smart money interest.
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