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Bitwise has launched a Solana staking exchange-traded product (ETP) in Europe, ticker BSOL, offering a 6.48% annual percentage yield, surpassing competitors like 21Shares. With a management fee of 0.85%, it aims to attract stakers while awaiting U.S. approval for its Solana ETF. The firm remains optimistic about ETF approvals by 2025, predicting significant growth in the crypto market.
XRP price has surged above $2.50, currently consolidating gains with support at $2.53. A breakout above the $2.620 resistance could propel it towards $2.80, while dips may find support near $2.520 and $2.440. The bullish trend remains intact as technical indicators show positive momentum.
Ethereum price has struggled to maintain levels above $4,000, recently declining below key support zones. Currently trading under $3,920, the cryptocurrency faces resistance near $3,900, with major support at $3,820. A failure to recover could lead to further losses, potentially testing the $3,650 level.
Ethereum price has struggled to maintain levels above $4,000, currently trading below $3,920 and facing resistance near $3,900. A failure to break this resistance could lead to further declines, with major support levels at $3,820 and $3,780, while a move above $4,000 may push prices toward $4,120.
Bitcoin price has corrected after reaching a new all-time high of $108,297, trading above $105,000 and the 100 hourly Simple Moving Average. Key resistance levels are at $106,200 and $107,750, while major support is found at $105,000 and $103,750. A failure to surpass $106,200 could lead to further declines, with support near $102,200 and $100,500.
Starting January 1, 2025, U.S. cryptocurrency holders will face stricter tax enforcement as brokers must report transactions to the IRS via Form 1099-DA, increasing transparency but raising concerns of a market sell-off. Missing cost basis records could lead to higher taxable gains, prompting traders to liquidate assets to minimize tax exposure. The IRS will utilize blockchain analysis tools for audits, emphasizing the need for accurate reporting of past and current crypto activities.
Tether's USDT stablecoin remains available for trading on several European exchanges, including Binance, Crypto.com, and Kraken, despite Coinbase's recent delisting to comply with upcoming regulatory requirements. While some exchanges have not publicly addressed the delisting, OKX announced its removal of USDT in March 2024, focusing on euro-based pairs. With the full implementation of the Markets in Crypto-Assets Regulation (MiCA) approaching on December 30, other platforms still have time to decide on USDT's status.
The crypto industry experienced significant growth in 2024, with predictions for Bitcoin to reach $210,000 and Solana to hit $1,000 by 2025, driven by corporate adoption and favorable regulations. The rise of meme coins and stablecoins, alongside the potential for major crypto firms to go public, signals a shift towards mainstream acceptance. Analysts highlight the importance of the U.S. political landscape in shaping the future of digital assets, particularly under a crypto-friendly administration.
FTX's reorganization plan will commence on January 3, 2025, prioritizing creditor repayments for claims under $50,000, which represent over 90% of all creditors. Payments, expected to recover up to 118% of claims, will be made in cash or stablecoins, facilitated by Kraken and BitGo. Eligible creditors must complete specific steps to receive distributions, following the approval of the Chapter 11 bankruptcy plan with 94% creditor support.
FTX has announced that its Chapter 11 reorganization plan will take effect on January 3, 2025, marking the initial distribution date for affected customers. The first distribution is expected within 60 days, with partnerships established with BitGo and Kraken to facilitate the process. FTX's native token, FTT, has seen a significant price increase, trading at $3 after a period of consolidation.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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