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Ethereum's price has struggled to recover after failing to break the $3,400 resistance, leading to a decline below $3,350 and forming a low at $3,159. The cryptocurrency faces significant hurdles at the $3,300 resistance, with major support levels at $3,160 and $3,200. A failure to hold these supports could result in further losses, potentially pushing the price toward $3,050 or even $3,000.
Bitcoin price has faced significant pressure, trading below $93,500 and struggling to recover above the $95,000 resistance level. After a decline from $95,500, the cryptocurrency formed a low at $91,168 and is now consolidating below key resistance levels, with immediate support at $92,500 and major support at $91,200. If Bitcoin fails to rise above $95,000, further declines could push the price toward the $90,000 mark.
A savvy crypto trader has moved 427 billion Pepe (PEPE) tokens, valued at $8.5 million, to Kraken during a market correction to lock in profits. This trader, who previously sold all holdings for a profit of $11.7 million, now holds one trillion PEPE worth $18.4 million. Currently, PEPE is trading at $0.000018, down 4.2% in the last 24 hours, with a market cap of $7.5 billion, making it the 29th-largest crypto project.
The US Senate Banking Committee is set to establish its first cryptocurrency subcommittee, chaired by Senator Cynthia Lummis, as part of a pro-crypto regulatory push under Trump's administration. This initiative aims to create clear regulations that balance consumer protection with innovation, following significant donations from major crypto firms to Trump's inaugural committee. With Gary Gensler resigning as SEC chair on inauguration day, the landscape for US crypto regulation appears promising for 2025.
Donald Trump has launched a new NFT collection on the Bitcoin network, featuring 160 cards through the Ordinals protocol, with an additional 40 cards planned. Despite the NFT market's $8.8 billion sales in 2024, most collections struggle with low trading activity, and Trump's previous "America First" collection has seen minimal engagement. The new "Mugshot Edition" cards are available on the Magic Eden marketplace, with early signs indicating 29% have already been minted.
President-elect Donald Trump is considering several crypto-friendly candidates for the CFTC chair, including Summer Mersinger and Brian Quintenz, as he prepares to reshape the regulatory landscape for digital assets. Current CFTC Chair Rostin Behnam will resign on January 20, paving the way for a shift in oversight from the SEC to the CFTC, which is expected to play a larger role in regulating the $3.5 trillion crypto market. Trump's administration aims to end what he describes as the Biden administration's regulatory "crusade" against the crypto industry.
Gemini is expanding its presence in Europe by appointing a new leadership team, including Mark Jennings from Kraken and Daniel Slutzkin from Stake, to navigate the region's strict regulatory landscape. This move coincides with the implementation of the EU's MiCA regulations and the UK's upcoming crypto framework, highlighting Gemini's commitment to growth in regulated markets. The firm aims to leverage these developments to enhance its market position, with a focus on trust and innovation in the evolving crypto space.
Circle has donated $1 million in USDC to Donald Trump's inaugural committee, marking its first significant political contribution in the U.S. CEO Jeremy Allaire highlighted the importance of accepting digital dollars, reflecting the growing acceptance of cryptocurrencies.This donation is part of over $200 million raised by the committee, with notable support from other crypto firms like Ripple, Kraken, and Coinbase, all backing Trump's pro-crypto policies and regulatory reforms. Trump's administration has made several pro-crypto appointments, signaling a commitment to fostering collaboration between the government and the digital asset sector.
Phala Network has launched the first Op-Succinct layer-2 rollup on Ethereum, enhancing scalability through a combination of optimistic and zero-knowledge proofs. This innovative solution, developed in partnership with Succinct Labs and Conduit, aims to improve transaction finality, reduce costs, and bolster security, while supporting decentralized AI applications. The move reflects a growing trend in Ethereum layer-2 solutions, despite concerns over fragmented liquidity and market efficiency.
Circle has donated 1 million USDC to President-elect Donald Trump's inaugural committee, joining Ripple, Coinbase, and Kraken in support. The Trump-Vance Inaugural Committee aims to raise $150 million for inauguration events, with contributions already exceeding this goal. Trump's inauguration is scheduled for January 20, 2025, at the US Capitol, and the incoming administration is expected to create a more favorable regulatory environment for crypto assets.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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