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Coinbase has withdrawn support for Wrapped Bitcoin (wBTC) as Bitcoin's price drops below $100,000, citing that wBTC no longer meets its listing standards. The decision follows concerns over Justin Sun's involvement with wBTC, which Coinbase deemed an "unacceptable risk." Users can still access and withdraw their wBTC funds, but trading services have been disabled.
World Liberty Financial (WLFI), a new venture by Donald Trump, has made waves in the cryptocurrency sector by acquiring 722 ETH for approximately $2.5 million, boosting its total Ethereum holdings to about 15,598 tokens valued at $53 million. The project aims to democratize crypto loans, challenging traditional financial institutions, while also diversifying into other cryptocurrencies like Aave and Chainlink. With significant backing from TRON founder Justin Sun, WLFI is under scrutiny as it navigates a competitive DeFi landscape amid concerns over potential conflicts of interest.
Tron has achieved a significant milestone, recording the highest monthly transactions for three consecutive months, with volumes of 182 million, 167 million, and 135 million, despite a decline in TRX prices. The network's dominance in USDT transactions, accounting for 92% of all stablecoin remittances, highlights its appeal for fast and cost-effective payments. However, investor caution is evident as large withdrawals from the TRX ecosystem increase, raising concerns about future price stability amid ongoing bearish market sentiment.
Bitget has partnered with TRON, acquiring $10 million in TRX to enhance blockchain innovation and ecosystem growth. This collaboration aims to expand TRON's global reach, fostering advancements in decentralized finance (DeFi) and on-chain payment solutions. Bitget's CEO emphasized the partnership's alignment with their goal of engaging influential ecosystems, while TRON's Justin Sun expressed enthusiasm for empowering developers and broadening TRON's audience.
Justin Sun allegedly pressured CoinDesk's new owners, Bullish, to remove a critical article about his $6.2 million purchase and public consumption of a banana artwork by Maurizio Cattelan. The piece, which also highlighted Sun's legal troubles with the SEC, raised concerns among CoinDesk's journalists regarding editorial independence after its removal. Despite the article being taken down, a version remains available through Yahoo News, intensifying tensions between the editorial team and Bullish.
TRON (TRX) is currently trading above the $0.25 support level, having recently recovered from a low of $0.23. The altcoin is facing resistance at $0.35, with potential for an uptrend if it maintains support above the 21-day SMA. However, a drop below this support could lead to further declines.
HTX Ventures' 2024 report highlights significant developments in the Bitcoin ecosystem, memecoins, and The Open Network (TON). Bitcoin saw a surge in market dominance and the launch of various layer-2 solutions, while memecoins thrived, particularly on Solana, attracting new users. TON experienced exponential growth, driven by innovative gaming models and a large user base from Telegram, marking a transformative year for the crypto landscape.
Ethereum (ETH) is showing bearish signals after a recent price surge to $4,100, where it faced significant selling pressure. With rising exchange reserves and increased unstaking activity from whales, including a notable withdrawal by Justin Sun, the price may decline to $3,500, reflecting a potential 12% drop. Currently, ETH is trading around $3,970, with a slight decline of 0.80% in the past 24 hours amid increased trading volume.
Donald Trump’s World Liberty Financial (WLFI) has acquired $50 million in decentralized finance (DeFi) assets, including $35 million in ETH/WETH and $10 million in cbBTC, as it prepares for its token sale. The project, which claims to be the only DeFi platform inspired by Trump, aims to disrupt traditional financial institutions. Notably, TRON founder Justin Sun has become the largest holder and advisor after the TRON DAO received 2 billion WLFI tokens.
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