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Rising bond yields and macroeconomic challenges are impacting the cryptocurrency market, with Solana (SOL), PEPE, and the newly launched BUZZ token gaining attention. SOL faces bearish signals from a rising wedge pattern, while PEPE prepares for a halving event that could affect its supply dynamics. BUZZ, leveraging AI in DeFi, has surged significantly since its launch, but its future depends on maintaining investor interest amid market volatility.
The cryptocurrency industry is aggressively investing in political influence, aiming to reshape regulatory frameworks ahead of the 2024 elections. With significant backing from Coinbase and others, the pro-crypto Fairshake super PAC spent $173 million to support candidates aligned with their growth ambitions, particularly targeting regulators perceived as hostile. Coinbase's push for the CFTC to become the primary crypto regulator reflects a desire for clearer rules and a more favorable regulatory environment under the incoming Republican administration.
Sigma Capital, a UAE-based Web3 venture fund, has launched a $100 million blockchain startup fund aimed at supporting early-stage projects in decentralized finance, blockchain infrastructure, and the metaverse. CEO Vineet Budki emphasized the fund's role in fostering an inclusive digital economy by providing capital and access to a robust network.Additionally, the UAE has amended its VAT regulations to exempt virtual asset transactions from tax, effective November 15, 2024, enhancing the clarity of digital asset taxation in the region.
AnchorZero has launched a digital asset Roth IRA, the first of its kind to support pre-launch tokens, allowing founders and investors to avoid capital gains taxes on future appreciation. This innovative solution enables tax-free compounding from the earliest stages of token creation, significantly enhancing potential financial growth. By partnering with Anchorage Digital Bank, AnchorZero ensures secure custody and onchain capabilities, setting a new standard for integrating digital assets into retirement planning.
Enzyme Finance is expanding into the Solana ecosystem through a partnership with Neutral Trade, aiming to enhance its on-chain asset management services. This collaboration will democratize access to advanced trading strategies, allowing a wider audience to benefit from decentralized finance solutions. Co-founders Mona El Isa and Jared emphasize the goal of breaking down financial barriers and empowering new investors and fund managers.
Solana (SOL) is currently trading at $182.83, facing a 17.38% decline over the past month, and analysts speculate on its potential to reach $500, contingent on market conditions and institutional interest. Meanwhile, the emerging token JetBolt (JBOLT) is gaining traction with its zero-gas technology and AI features, attracting crypto whales and positioning itself as a strong contender in the blockchain market.
The TON Foundation has appointed Manuel Stotz as president to spearhead its expansion into the US, anticipating pro-crypto policies under President-elect Donald Trump. Stotz, founder of Kingsway Capital Partners, aims to position the blockchain platform as a leader in digital assets, especially following regulatory challenges faced during the Biden administration. Established in Switzerland in 2023, the nonprofit organization supports projects within the TON ecosystem through a decentralized governance model.
Ethereum's price has dipped 17% to $3,088, facing resistance at $4,000 after a significant rally. As bullish momentum wanes, whales are exploring new altcoins like Lunex Network, which has raised over $6.3 million for its innovative DeFi platform, promising deep liquidity and minimal fees.
Best Wallet is a mobile wallet utilizing Fireblocks MPC-CMP technology, featuring its own decentralized exchange and a physical debit card for crypto payments. Currently, $BEST tokens are available for presale at $0.023575, offering lower transaction fees and access to new projects. Meanwhile, Ethereum has shown signs of recovery after a recent decline, trading at $3203.21, with potential resistance levels ahead.
Swiss digital asset banking group Sygnum has raised $58 million in a strategic growth round, achieving a valuation exceeding $1 billion. The funding, led by Fulgur Ventures, will support Sygnum's expansion into EU/EEA markets and its regulated presence in Hong Kong, while the bank manages over $5 billion in client assets.Despite this success, co-founder Mathias Imbach warns that Switzerland is losing its competitive edge in the financial sector, emphasizing the need for continuous innovation. Sygnum also made history by issuing a $50 million Bitcoin-backed loan to crypto lender Ledn, marking a significant milestone in regulated banking.
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