XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

Ripple has emerged as one of the top post-election performers, quadrupling in value since November 5. This impressive rally, alongside gains in other cryptocurrencies, has spotlighted digital assets and fueled speculation about their potential trajectory heading into 2025.

XRP Whales Make Massive Moves, Sparking Price Speculation

XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

The unusually large withdrawals, flagged by Whale Alert, have sparked heightened interest among investors and increased speculation about the token’s future price movement.

40,000,000 #XRP (89,678,944 USD) transferred from #Ripple to unknown wallethttps://t.co/YmHOFWz1q9

— Whale Alert (@whale_alert) December 21, 2024

Whale Alert reveals that the recent XRP transfers consisted of two significant transactions. The largest involved 50 million tokens, valued at approximately $112.5 million, moved to a newly created wallet. The second transaction saw 40 million tokens worth $90 million sent to a recently activated address.

50,000,000 #XRP (111,697,462 USD) transferred from #Ripple to unknown wallethttps://t.co/nWwkUGOhWA

— Whale Alert (@whale_alert) December 21, 2024

The destination wallets are not linked to any known cryptocurrency exchanges, leading investors to speculate that high-net-worth individuals or institutional investors may be accumulating Ripple. This has fueled expectations of further price movement. Also, recently, renowned hedge fund manager Scott Melker has revealed that former President Donald Trump is actively accumulating XRP and HBAR tokens.

Crypto analysts think that large transfers to exchanges from unknown wallets are often a bullish indicator. This is a signal that the whales-the major holders-are moving their holdings to cold storage, which typically reflects a long strategy, rather than short-term selling. This can set up a positive outlook for the cryptocurrency’s price. However, the reversal situation results usually with reversal outcome so it’s interesting the price is still on the rise.

This development comes as a US appeals court announces the filing deadlines for the opening and reply briefs by Ripple and its CEO, Brad Garlinghouse.

Holding Steady at Key Support, Awaiting Next Move

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Ethena (ENA) didn’t let the significant sell-off by Arthur Hayes deter its uptrend. Hayes, after publicly supporting Ethena Labs, unstaked 9 million ENA and sent 7 million ENA ($8.44 million) to Binance today.

He previously withdrew 16.79 million ENA from Binance in late November at $0.666 for an estimated $8.71 million profit (+78%). Hayes currently holds 9.96 million ENA valued at $11.7 million, with 7.94 million tokens staked.

Ethena (ENA) Continues to Outperform the Market Despite Arthur Hayes Sale

Ethena (ENA) continued its upward momentum despite significant selling activity by prominent crypto investor Arthur Hayes.

According to SpotOnChain, Hayes unstaked 9 million ENA tokens and deposited 7 million ENA (worth $8.44 million) to Binance earlier today, even after publicly expressing support for Ethena Labs. This follows his earlier withdrawal of 16.79 million ENA from Binance between November 26 and 28 at an average price of $0.666, totaling $11.19 million.

Arthur Hayes (@CryptoHayes) unstaked 9M $ENA and deposited 7M $ENA ($8.44M) to #Binance 45 minutes ago, despite showing support for @ethena_labs earlier today!

He previously withdrew 16.79M $ENA at ~$0.666 ($11.19M) from Binance between Nov 26 and 28, 2024 (tweet ).

He… https://t.co/XLxUd4NW1l pic.twitter.com/Ik8JBC25To

— Spot On Chain (@spotonchain) December 21, 2024

Currently, Arthur Hayes holds 9.96 million ENA, valued at $11.7 million, with 7.94 million tokens staked. His strategic trades have earned him an estimated profit of $8.71 million, representing a 78% return. Despite these developments, ENA’s price has shown resilience, continuing to rise in the face of selling pressure.

Ethena has been doing great in the last 24 hours, up 8.47%, while major cryptocurrencies such as Bitcoin and Ethereum continue to struggle after a sharp market downturn earlier this week.

Even though it had a strong rebound today, ENA previously experienced a massive 34.62% fall from $1.30 on December 16 to $0.85 by December 20. The token has recovered excellently and is now trading at $1.08. Having a market capitalization of about $3.17 billion, ENA is now the 43rd largest cryptocurrency, showing strength in a highly volatile market.

Ethena ($ENA) Poised for 85% Surge, Says Analyst

It seems Arthur Hayes didn’t listen recent prediction by crypto analyst and YouTuber Chill Trader. He shared a chart for ENA/USDT that indicated Ethena could surge by 85.34%. He highlighted a bullish Cup-and-Handle pattern, with key support at $0.94, which is currently being tested. If this level holds, the analyst predicts a price target of $2.15, supported by strong momentum from the 200-day Exponential Moving Average (EMA) at $0.63, well below current levels.

https://twitter.com/Chill_trader99/status/187000682226792866

For instance, a drop below $0.94 might push it further down to the lower support line of $0.86. Chill Trader added that volume is essential, while strong buying volume is required for a bounce off of support, and high selling volume would show a breakdown.

In addition to the bullish technical signals, recent strategic partnerships add to the case for a potential surge in Ethena’s price. The project has partnered with Donald Trump’s World Liberty Financial (WLFI) and investment giant BlackRock, signaling growing institutional interest.

Ethena’s partnership with WLFI brings the sUSDe stablecoin as collateral to its Aave-backed DeFi platform and is, therefore, getting a lot of attention in the circles of decentralized finance. On the other hand, BlackRock focuses on strategies in risk management for tough markets with returns from treasury investments.

On December 16, they introduced USDtb, a new stablecoin backed by BlackRock’s BUIDL Fund, which was developed in collaboration with tokenization platform Securitize.

The growing buzz surrounding Ethena’s partnerships and the potential influence of a Trump-backed administration has sparked increased interest in ENA, suggesting a promising outlook for the cryptocurrency in the near future.

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Popular crypto analyst and broadcaster Max Keiser has recently commented on the proposal by Michael Saylor for the United States to create a $10 trillion stablecoin pegged to Bitcoin, calling this idea not plausible given the restrictive policy of USD.

Keiser framed the US dollar as “the ultimate proof-of-stake shitcoin,” emphasizing that it derives its value from control and exclusion rather than openness and neutrality.

Max Keiser Slams Saylor’s Bitcoin Stablecoin Idea

.@Saylor’s idea, that the US creates a $10 trillion stable coin backed by Bitcoin is unlikely to happen because the US is extremely restrictive about who gets to use the USD.

The USD is the ultimate proof-of-stake shitcoin, and the US government is never going to open-source… pic.twitter.com/nT5ckmP0K8

— Max Keiser (@maxkeiser) December 21, 2024

Keiser contrasted the USD’s foundation of force with Bitcoin’s ethos of peace, referring to El Salvador’s adoption of a Bitcoin standard under President Nayib Bukele as a prime example of a peaceful financial revolution. Reaffirming its Bitcoin commitment with the promse to buy up another 20,000 BTC, Keiser says El Salvador is leading the way toward a more just and transparent monetary system.

Max Keiser, further asserted that the US can’t create an SBR without collapsing the USD and ultimately losing world power. But El Salvador, on the other hand, is in a rare position to do so: under President Nayib Bukele, it has increased daily purchases, setting an ambitious short-term target of adding another 20,000 BTC to its reserves. This bold strategy underlines El Salvador’s commitment to the Bitcoin standard and the rewriting of its economic trajectory.

Michael Saylor Urges US to Leverage Stablecoins to Strengthen the Dollar

Max Keiser focused mainly on the recent interview with CNBC, where Saylor laid out a plan for how the US could leverage the incoming administration of President-Elect Trump to implement a digital assets framework that would cement the dollar as the premier digital currency. Saylor blasted the onerous US stance regarding cryptocurrencies and murky regulations, forcing companies like Tether to issue dollar-backed stablecoins offshore.

He envisioned US banks one day issuing their own stablecoins and creating a multi-trillion-dollar global opportunity for the dollar.

Even though he supports Trump’s plan on Strategic Bitcoin Reserves, Saylor explained that US-issued digital dollars could tap into a $10 trillion global market, boosting demand for US treasuries used to back these tokens. It would allow the US to extend the dollar’s dominance in the new digital economy. He further went on to explain how Russia, China, Africa, and South America already utilize stablecoins such as Tether to access dollars.

This demand could be met with US banks under clear regulations, issuing stablecoins backed by treasuries and stored domestically. Saylor argues that the US should aim far beyond the $150 billion in offshore stablecoins, pushing for trillions backed by its financial infrastructure. He has gone as far as to suggest selling US gold reserves to buy Bitcoin for a strategic reserve, underlining his vision for how the nation should incorporate digital assets into its future.

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Michael Saylor revealed for the first time an unprecedented mechanism for illustrating precisely how the United States government could create $81 trillion by creating a Strategic Bitcoin Reserve.

The proponent’s plan underlines a strategic digital asset policy aimed at strengthening the US dollar to neutralize national debt, place America as a leader of the 21st-century digital economy, empower a majority of businesses, drive unparalleled economic growth, and, therefore, create immense value.

Michael Saylor: $81 Trillion Possible with US Strategic Bitcoin Reserve

Michael Saylor has unveiled a groundbreaking strategy demonstrating how the United States government could generate $81 trillion by establishing a Strategic Bitcoin Reserve.

A key component of Saylor’s approach is the taxonomy in defining the classes of digital assets. This classification should provide much-needed clarity on what differentiates each class of asset from others.

A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy—empowering millions of businesses, driving growth, and creating trillions in value. https://t.co/7n7jQqPkf1

— Michael Saylor (@saylor) December 20, 2024

Digital commodities like Bitcoin, not issued by any person or organization and backed by digital power, differ from digital securities backed by equity, debt, or derivatives.

The framework includes digital currencies backed by fiat, utility digital tokens, non-fungible tokens representing unique assets, and asset-backed tokens tied to physical resources like gold or oil. These definitions will be fundamental in fostering innovation and moving the policy discussion forward.

Saylor stresses the need to actually create a framework of legitimacy, so much pushed forward by Senator Cynthia Lummis. The framework should, according to Michael Saylor, delineate the rights and responsibilities of all participants within the digital asset ecosystem. Issuers shall have the responsibility to create assets while ensuring fair disclosure and maintaining ethical conduct.

Exchanges shall have the right to custody, trade, and transfer assets in a manner that ensures transparency, protection of client interest, and avoidance of conflict of interest. Owners shall have the right to self-custody and to trade their assets but shall remain subject to local laws. This principle bases itself on the fact that no one should have the right to lie, steal, or cheat, and all players should be held responsible for their actions.

Streamlining Crypto Regulations to Unleash a Capital Markets Renaissance

The structure should implement effective, reasonable compliance measures that facilitate innovation rather than obstruct it, while ensuring standardized disclosures for each asset class to promote transparency and build confidence.

By allowing industry-led compliance, exchanges could take the lead in collecting and publishing data, significantly reducing issuance and maintenance costs. Michael Saylor argues that regulators should be taken out of the critical path to digital asset issuance to let exchanges facilitate smooth processes and reduce friction both for issuers and investors. These steps could dramatically improve the cost, speed, quality, and accessibility of digital assets.

Michael Saylor envisions a 21st-century capital markets renaissance driven by digital assets. This would let the issuance of digital assets go really fast and, instead of taking months, it would be able to be created in days.

The issuance-related costs could fall from tens of millions of dollars to as low as $10,000, thus opening up the capital markets to millions of businesses, artists, and entrepreneurs. Investors would have unprecedented access to tokenized commodities, real estate, and intellectual property, among other things, fostering broader participation in the digital economy.

Digital Assets as America’s Trillion-Dollar Opportunity

A strategic digital asset policy would position the US dollar as the global reserve digital currency. Digital currency markets would expand from $25 billion to $10 trillion, creating enormous demand for US Treasuries. Some even think that, in case of Strategic Bitcoin Reserve establishment, the currency would easily reach $500K.

Global digital capital markets could grow from $2 trillion to $280 trillion. All of this would happen with the US investor base capturing a large share. Michael Saylor believes leadership in digital assets, including Bitcoin, could push the market value to $590 trillion, cementing US dominance.

A Strategic Bitcoin Reserve could generate $16 trillion to $81 trillion for the US Treasury, helping offset national debt. This policy could unlock trillions for American companies and strengthen the US dollar as a cornerstone of the global digital financial system.

Michael Saylor’s vision aims to capitalize on the digital asset revolution.

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According to investor and analyst Lark Davis, Bitcoin’s current cycle and crypto bull run are far from being over. From RSI and NUPL to MVRV and Fibonacci retracement, several indicators have pointed to the fact that significant upside is still possible in this market.

Though short-term resistance at around $100,000 might test traders’ patience, Davis believes the eventual peak of Bitcoin would lie way above this level. With the market inching toward the next phase, traders and investors should be ready for a possible blow-off top in the upcoming months.

Crypto Bull Run Isn’t Over, Bitcoin’s Top Not Even Close, Says Lark Davis

The wider cryptocurrency market took a severe plunge in a post-December 18 Federal Open Market Committee (FOMC) meeting action but, according to analyst and investor Lark Davis, Bitcoin and the broader cryptocurrency market continue to display strong momentum, indicating that the crypto bull run is far from reaching its peak.

The US Federal Reserve cut its rates by 25 bps as expected but reflected fewer cuts in 2025 than earlier projections.

Bitcoin shed more than 5% and plunged below $94,000 before giving minimal signs of recovery. Other altcoins faced double-digit percentage losses across the board.

Investor and analyst Lark Davis highlighted that Bitcoin’s recent 13% dip, following a strong Q4 rally, resembles the market dynamics of December 2020.

If you're worried that this is the end of the bull market, know this:

In December 2020, $BTC dumped 12%, after witnessing a 77% rally in October-November.

It then went from $17,000 to $41,000 (a 136% move) in the next 23 days.

Something similar is happening right now, with… pic.twitter.com/lFPSy3JjTt

— Lark Davis (@TheCryptoLark) December 20, 2024

At that time, Bitcoin saw a 12% decline after a 77% surge in October and November, only to skyrocket from $17,000 to $41,000—a 136% gain—in just 23 days. While Davis cautions that another 10-15% correction is possible, he emphasizes that Bitcoin and the broader crypto market still have significant momentum, suggesting the crypto bull run is far from over.

In his newest podcast, Davis dispelled the idea that Bitcoin was going to top out at $100,000 and even threw out the idea that the current cycle is coming near its end.

Using numerous different technical indicators and historical patterns, Davis suggested that Bitcoin has a lot more momentum, which could bring up new all-time highs way past the psychological resistance level of $100,000.

RSI Suggests Room for Growth

Davis initiated his analysis by looking at Bitcoin’s monthly RSI. Historically, the top of Bitcoin’s cycle coincides with the RSI reaching or exceeding 90. For the 2017 and 2021 cycles, these peaks also coincided with euphoric market conditions and overall crypto bull run.

Currently, Bitcoin’s RSI stands at around 75-76, much lower than historical peak values. He said this alone could indicate that the market still has plenty of fuel in the tank. Comparing the current phase to earlier cycles, Davis noted that initial peaks were followed by higher price rallies, and Bitcoin could be set to do the same in the coming months.

The Net Unrealized Profit/Loss chart is supporting Davis’s bullish outlook. This metric categorizes market sentiment into zones like belief, euphoria, and greed. Presently, Bitcoin is in the “belief” zone, far from the “euphoria” zone associated with market tops.

In the same way, the MVRV Z-score is another reliable on-chain indicator that measures Bitcoin’s value as significantly undervalued compared to previous peaks. Davis forecasted crypto bull run, meaning this will rise to the levels from previous cycle highs and affirm that the market hasn’t peaked yet.

Fibonacci Levels and Psychological Resistance

Davis pointed out the 1.618 Fibonacci retracement level, which is a very important mark for the price action of Bitcoin. The recent resistance at the $100,000 level was right on this technical target, compounded by its psychological significance.

Even though there is no crypto bull run happening right now, Davis waved this off as just the first stop in Bitcoin’s upward journey. He explained that whales make it a point to put sell orders at round numbers like $100,000, and this creates temporary resistance, while the big trend remains upward.

The investor applied historical cycles and suggested that Bitcoin could peak in March or April 2024, possibly reaching $250,000 or even higher. He was basing his prediction on chart patterns, including the narrowing gap in the Pi Cycle Top Indicator.

With the highly unpredictable nature of markets, Davis warns traders to stay cautious while still optimistic, since the cycle is likely to extend into the latter half of 2024. At the time of writing, the price of Bitcoin was $96,924, down by 1.77%.

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Haliey Welch, the star of ‘Hawk Tuah’, has finally spoken up after a lawsuit was filed against her team on Thursday, regarding HAWK memecoin situation.

In a statement from her X account, she said she was very concerned and committed to addressing her fans, the affected investors, and the wider community.

She further emphasized her full cooperation with the legal team representing those affected and her commitment to the truth, accountability of those responsible, and resolution of the matter.

Haliey Welch Faces HAWK Memecoin Lawsuit, Denies Creation

In a tweet on Twitter/X, Welch expressed extreme concern for the situation at hand and her determination to make right the issues surrounding her project’s launch.

I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the…

— Haliey Welch (@HalieyWelchX) December 20, 2024

She emphasized that she is committed to seeing this through with her impacted fans, investors, and the community at large. Welch declared she is cooperating completely with the legal representatives for those affected. She also said she hopes to uncover the truth, holding those responsible accountable, and finding resolution.

Investors who lost $151,000 in the HAWK memecoin, have filed a lawsuit in the US District Court for the Southern District of New York.

HAWK Memecoin Crashes 95% After Launch, Investors Sue Creators for Fraud

The lawsuit alleges that the Hawk Tuah team failed to properly register the memecoin in accordance with law. The Cayman Island-based sellers and promoters have allegedly taken advantage of 22-year-old Welch. They mislead investors by touting the cryptocurrency as a registered security.

Complaint defendants include the Tuah The Moon Foundation, along with business partner overHere and its founder Clinton So. Representing the HAWK team is Alexander Larson Shultz who goes by “Doc Hollywood”. Shultz allegedly has ties to Canadian comic Howie Mandel. His role in the deceptive peddling of the coin was listed within the complaint.

Haliey Welch name was not in the lawsuit, but she has now decided to speak. In a post on X, Welch expressed her concern, stating: “I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and committed to assisting the legal team representing those impacted, as well as helping to uncover the truth, hold the responsible parties accountable, and resolve this matter.”

The HAWK meme coin quickly reached a market cap of almost $500 million in the minutes following its December 4th launch. However, it crashed 95% in minutes and caused significant losses for investors.

The lawsuit alleges that the team raised almost $2.8M in a presale at a valuation of $16.69M before launch.

OverHere Blames “Doc Hollywood” for Crypto Chaos

The day following that chaotic HAWK rollout, overHere founder So renamed the Tuah Foundation to be an offshore entity. He then dumped 17% of token supply via the foundation. Those early investors had sold most of their new shares as fast as they bought them.

Sellers continued to sell 83% of the remaining supply without disclosing to buyers that the tokens were outside the US jurisdiction. The lawsuit alleges the project was intentionally exploiting the American market.

“So interwoven did the success of social media influencer-type Welch with the HAWK Token, with a token holder essentially sharing the profits or becoming a shareholder, investors argue. “Yet and still, despite the explicit statements that it was, in fact, a security, Defendants failed to register the HAWK Token.

An overHere spokesperson said:

“We have been extremely transparent about the very limited scope and extent of our involvement in the Hawk Tuah token project. We are confident we did nothing wrong.”

In a withering attack on Shultz, overHere placed the blame squarely on Doc Hollywood for the crypto chaos. The company claimed it had no involvement in any wrongdoing. It accused Shultz of controlling all token and fee decisions. He aleegedly ignored calls for transparency, and failed to pay trading fees to the company.

OverHere said it worked for the HAWK project free of charge without any official contract. Doc’s silence has, on the other hand, cost the trust of the emerging Hawk Tuah community. The firm also dismissed Doc’s claims of 18 employees, saying it actually employs four developers.

The company stated:

“This project requires Haliey’s team to step up, Doc to step down, and a full treasury audit. Ready when you are, Haliey Welch.”

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Federal Reserve Bank of Cleveland President Beth Hammack said she dissented at this week’s central bank meeting because interest rates should not have been moved higher or raised further until significant progress has been made on cooling inflation.

Hammack said rates are getting close to neutral, neither restraining nor stimulating the economy. Rates should stay elevated enough to “modestly restrain” economic activity “for some time.

Beth Hammack Breaks with Fed, Opposes Rate Cut Over Inflation Worries

Beth Hammack, president of the Cleveland Fed, and the sole dissenter to this week’s Federal Reserve rate cut, explained her opposition with an emphasis on inflation concerns. She said “there is more work to do on inflation,” showing her preference for holding steady on rates due to the economy’s strength.

She stated:

“Based on my estimate that monetary policy is not far from a neutral stance, I prefer to hold policy steady until we see further evidence that inflation is resuming its path to our 2 percent objective.”

Beth Hammack said the decision to dissent on the Fed’s latest rate cut was close because she believes monetary policy will have to remain modestly restrictive for some time. Hammack’s dissent was the second since the Fed began its rate-cutting cycle in September. It followed Fed Governor Michelle Bowman’s vote in support of this week’s 25 basis point cut.

Fed Officials Cut Rate Cut Projections for 2025 Amid Persistent Inflation

Fed officials reduced 2025 rate cut projections from four to two due to persistent inflation concerns. November saw a slight MoM inflation decline, though it remains sticky as the Fed aims to reach a 2% target.

Fed officials also revised their projections for 2025. They lowered the number of cuts expected from four to two, partly as a result of their concern over the persistence of inflation.

Recent inflation data revealed a marginal deceleration in price increases month over month in November. However, inflation remains sticky as the central bank works to bring it back to its 2% target.

In November, the core PCE, which excludes food and energy costs, was up 0.1% from the prior month, compared with a gain of 0.3% in October. On an annual basis, core prices were up 2.8%, below Wall Street’s expectations for a gain of 2.9%. Overall, PCE rose 2.4% annually, compared with 2.3% in October. Still, it was slightly below economists’ projections of a 2.5% rise.

Beth Hammack also highlighted that while the progress of inflation being at 7.2% in the summer of 2022 has gone down, it is still highly elevated. She said they are focusing on bringing the rate down to 2%, specifically since the job market has been very strong.

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US economic data for November 2024 showed steady growth in key metrics, with the PCE inflation index increased by 0.1% month-over-month and 2.4% year-over-year. Excluding food and energy, the core PCE index rose by 0.1% monthly and 2.8% annually.

According to the Bureau of Economic Analysis, personal income rose 0.5%, DPI increased 0.3%, and PCE climbed 0.4%. Real disposable income and spending also had moderate gains, while the inflation indicators-the PCE price index, for instance-remained subdued at 0.1% month-over-month.

US Core PCE Inflation Cools: Less Volatility for Crypto?

Personal consumption expenditures in the United States rose 0.4% or $81.3 billion in November, the nation‘s Bureau of Economic Analysis (BEA) reported Friday.

The PCE inflation rose 0.1% month-over-month and 2.4% year-over-year. The figure increased 0.1% on a monthly basis and 2.8% on an annual one when excluding food and energy. Personal income increased 0.5 percent or $71.1 billion in the month compared to the prior month. Meanwhile, DPI increased 0.3 percent or $61.1 billion.

The Core PCE was a key gauge of inflation, and below expectations, adding to expectations of continued dovish monetary policy. It saw a bullish reaction in the cryptocurrency market following this development as Bitcoin saw a sharp rally.

Ahead of the indicator, Bitcoin price had slipped to the $93,000 level. However, right after the announcement, it jumped at incredible speed to $95,000, reflecting renewed investor confidence.

The 0.4% rise in PCE inflation highlights resilient consumer spending in categories like autos, goods, and recreation. The modest increase in the PCE price index suggests low inflation, supporting the Federal Reserve’s current policy stance. This stable macroeconomic environment may reduce volatility for cryptocurrencies by minimizing surprises in inflation or income growth.

Subdued Core PCE inflation could further support Bitcoin and altcoins by fostering a favorable macroeconomic outlook. Lower inflation decreases the likelihood of aggressive Federal Reserve rate hikes, which often weigh on risk assets like cryptocurrencies. Bitcoin’s sharp rally reflects renewed investor confidence, showcasing crypto’s appeal as an alternative asset class.

. With stable inflation and income data, cryptocurrencies could experience reduced volatility, attracting more institutional and retail interest in the sector.

Softer Consumer Demand and Potential Easing of Fed Policy?

The Core PCE Price Index is one of the key economic indicators that reflect consumer spending trends, excluding volatile food and energy sectors. Such an approach allows pinpointing the underlying inflation trajectory, which is a key factor for monetary policy decisions.

November’s softer-than-expected Core PCE inflation would signal a slower pace of price increases, probably on the back of softer consumer demand or heightened competition in the market. It is expected to ease the concern about inflation and convince the Fed to be less aggressive with monetary tightening.

Recently, the Federal Reserve, led by Jerome Powell, has enacted its third interest rate cut of the year, signaling a cautious yet optimistic outlook for the US economy. Powell emphasized that the risks to achieving employment and inflation targets are now balanced, reflecting confidence in economic stability.

The decrease in the Core PCE would normally contribute to the weakness of the US dollar due to a perception of accommodative monetary policy. However, its effects on USD depend on more general economic indicators and overall conditions of the world’s financial markets-a reflection of the interdependency of economic factors toward market behavior.

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Australian computer scientist Craig Wright, who has been lying about being the founder of Bitcoin, received a one-year  prison sentence. The high court in London found him in contempt of court for his unceasing lawsuits over his unfounded claims.

Craig Wright Sentenced to 1 Year in Jail

On Thursday, Craig Wright was sentenced for contempt of court after filing a £911 billion ($1.2 trillion) lawsuit against Twitter founder Jack Dorsey’s payments company, Block, in Britain. The judge handed down a one-year prison sentence, suspended for two years, citing a “flagrant breach” of the court’s order.

Justice Mellor had earlier found that Wright, 54, had lied extensively about being Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Nakamoto could allegedly be in possession of around one million Bitcoins and is thus likely to be a billionaire. Bitcoin, which was first mined in 2009, recently soared in value to £79,000.

The court dismissed Wright’s intellectual property rights over Bitcoin after the court discovered evidence of intent to commit fabrications.

In its judgment, the court criticized Craig Wright for using clumsy forgeries and relying on technical jargon to support his claims.

Craig Wright, the Australian scientist, continues facing legal consequences for fraudulently claiming to be Bitcoin’s creator. Despite the court’s order to stop legal action against Bitcoin developers, Wright defied the ruling in October, filing lawsuits valued at over £900 billion related to his intellectual property claims.

Jonathan Hough KC, representing Copa, a non-profit group of cryptocurrency firms, stated that Craig Wright not only claimed to be Nakamoto but also threatened legal action against those who disputed it.

He said this was a campaign to “terrorize” developers and bloggers and had put them through “years of personal hell.” He said the lawsuits were a “desperate publicity stunt” to keep Wright’s followers on side.

Judge Brands Wright a Liar

On Thursday, Craig Wright was convicted on five counts of contempt of court. He got a 12-month sentence, suspension for two years, and order to pay £145,000 in legal costs within two weeks. The court also threw out his substantial claims against Bitcoin developers.

Justice Mellor found Wright’s contempt proven “beyond reasonable doubt.” Wright’s legal strategies included alleging judicial bias and claiming he was a victim of the British aristocracy, referencing the word “Lord” in judgments against him. Judge dismissed these claims as baseless.

The courtroom was full of spectators, and one of them was actually wearing a T-shirt emblazoned with the words, “This is just an elaborate fiction.” Wright came into court via video link from Singapore, having declined to attend in person unless paid £240,000 in costs and lost income.

In May, Justice Mellor delivered a damning judgment stating that Wright-while projecting himself as very intelligent-“is not nearly as clever as he thinks he is.” He labeled Craig Wright “an extremely slippery witness” who had told an abundance of lies and supported these with forged documents. All his lies and forged documents were in support of his biggest lie-in his claim to be Satoshi Nakamoto.

Wright has declared his intentions to appeal the ruling. Bitcoin price fell by over 4% under the support zone of 97,000.

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Investors have sued several individuals and entities associated with a cryptocurrency created by Hawk Tuah Girl Hailey Welch, amid a dramatic collapse of over 95% in the HAWK memecoin value on December 4, the same day it launched.

Lawyers for the investors, in a filing dated December 19, claimed the case arose from the “unlawful promotion and sale” of the HAWK token. The filing further mentioned that the defendants sold and offered the token to the public without registration in accordance with the laws and hence, violated such.

HAWK Memecoin Crashes 93%, Investors Sue Creators for Fraud

The Burwick Law firm has filed a US federal lawsuit on behalf of investors against the creators of the HAWK memecoin after its catastrophic failure shortly after its launch.

Hailey Welch, who rose to internet fame earlier this year as the “Hawk Tuah” girl after a viral interview about sexual techniques, was the public face of the Solana-based meme coin when it launched at the start of December.

Burwick Law filed a federal lawsuit on behalf of investors in the HAWK TUAH memecoin, $HAWK.

Learn more below. pic.twitter.com/ChKYhjBGf1

— Burwick Law (@BurwickLaw) December 19, 2024

Things quickly went downhill shortly after the HAWK memecoin launch. The price tumbled 93% from a peak market capitalization of $490 million, with many alleging a rug pull. And to make matters worse, a group of linked wallets holding 96% of the token supply was also uncovered. The plot thickened when it emerged that some of the wallets had started selling tokens, inflaming the outrage.

The lawsuit lists several defendants, including Tuah The Moon Foundation, which allegedly controlled the token sale proceeds, and the creator of the coin, OverHere Ltd, and its executive, Clinton So. Alex Larson Schultz, a Los Angeles-based promoter of the memecoin, is also named as a defendant.

Did ‘Hawk Tuah’ Girl Hailey Welch Scam Her Fans?

Hailey Welch first gained internet fame when a YouTube video went viral. In the video she used the phrase “hawk tuah” to describe a spitting action in a sexual context. Since then, she has built a brand on her internet stardom, starting a merchandise line and a podcast, *Talk Tuah*. High-profile guests on the podcast have included entrepreneur Mark Cuban.

The lawsuit claims that Welch and her associates utilized her celebrity and business platform to widely promote the HAWK memecoin. Lawyers for the plaintiffs say the defendants ran aggressive marketing campaigns and promised significant future growth.

These efforts allegedly created a speculative frenzy that caused the token to skyrocket in value shortly after its launch, reaching a notable market capitalization. It also accuses Welch of discussing the HAWK project in her podcasts and using her celebrity status and networks to enhance the token.

A memecoin is a cryptocurrency that’s based on some popular internet meme or joke, and often has very limited practical utility. However, there are plenty of memecoins presales of which, can become lucrative. One such coin, HAWK, became associated with Hailey Welch, a.k.a. “Hawk Tuah Girl,” who is not a defendant in the lawsuit, filed in federal court in the Eastern District of New York.

The attorneys for the plaintiffs cite that Welch’s highly significant social media following was there only to promote HAWK memecoin as a breakthrough crypto project. Many new cryptocurrency investors thought the token was attractive and that it will succeed due to Welch’s backing and the clear road map of the project. However, the dramatic collapse in the token erased $440 million in value within 20 minutes and brought huge losses for those investors.

Hailey Welch Denies Cash Grab

The plaintiffs claimed that Welch’s involvement and promotion was crucial for attracting investors. The suit claims that Welch’s marketing campaigns used her celebrity: “Welch used social media and made public appearances to shill for FTX.”.

On December 4, Welch defended her project, telling *Fortune* that HAWK was “not just a cash grab.” She said her interest in crypto had developed after attending conferences, realizing its potential as a way to engage with her fan base. Her manager, Jonnie Forster, emphasized that the HAWK memecoin was intended to stand apart from typical celebrity-endorsed crypto projects.

According to Forster, Welch and her team did not encourage fans to buy the token. Instead, they wanted to give free tokens to fans who bought Welch’s merchandise or engaged with her online content. Forster also said Welch holds 10% of the HAWK memecoin supply but is contractually unable to sell her share for a year. Despite those assurances, the token’s collapse has investors wondering if the project was a cash grab.

The defendants will be given the opportunity to answer the complaint and are likely to file a motion for summary judgment in their favor. If the judge does not grant summary judgment, the case will continue with pretrial motions. The plaintiffs have requested a jury trial, which, if granted, would mean that a jury would determine damages if the lawsuit is successful.

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El Salvador has reiterated its commitment to Bitcoin in spite of recent developments that saw its digital wallet, Chivo, being sold or retired. This is just days after the country sealed a $1.4 billion loan deal with the International Monetary Fund.

The deal forces the scaling back of Bitcoin policies, but the Salvadoran government remains undeterred in its quest to accumulate BTC for its strategic reserves.

El Salvador Reaffirms BTC Commitment, to Keep Accumulating Reserves

Stacey Herbert, the Director of the National Bitcoin Office, highlighted the fact that Bitcoin would keep on playing a critical role in the country’s financial strategy. She said that, while the Chivo wallet will stop being active, the government will speed up its buying of Bitcoin, continuing to add more BTC to its reserves.

EL SALVADOR SECURES $3.5 FUNDING DEAL

Bitcoin remains legal tender
El Salvador will continue buying bitcoin (at possibly an accelerated pace) for its Strategic Bitcoin Reserve
Bitcoin capital markets will continue to be built; for example, the recent tokenized issuance…

— Stacy Herbert (@stacyherbert) December 19, 2024

Presently, El Salvador holds 5,968.77 Bitcoin, which is nearly $596 million, with plans to purchase one Bitcoin per day.

The IMF required Bitcoin use in the private sector to be voluntary. It also limited public sector involvement in Bitcoin transactions.

Despite these restrictions, Herbert stated that many Bitcoin-related initiatives will continue. These include developing Bitcoin capital markets and expanding Bitcoin education programs.

Despite Incentives, Bitcoin Adoption Remains Low

Despite these setbacks, President Nayib Bukele remains optimistic about Bitcoin’s role in the country’s economy. Earlier this month he celebrated the recent surge past $100,000. Recently, crypto exchange Bitget has achieved a significant milestone, becoming the first digital asset trading platform to be granted a license as a Bitcoin Service Provider by El Salvador’s Central Bank. This development comes after Bukele revealed that El Salvador’s Bitcoin holdings have generated an unrealized profit of $362 million.

Though the IMF agreement requires the country to make adjustments to its BTC strategy, the government remains determined to keep Bitcoin as legal tender and to expand its use in key economic initiatives.

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Craig Wright, a computer scientist who fraudulently claimed to be the founder of Bitcoin was found to be in contempt of court by a London judge for breaching a series of court orders after he lost a critical lawsuit.

In 2021, the nonprofit cryptocurrency group Cryptocurrency Open Patent Alliance (COPA), backed by Jack Dorsey, sued Craig Wright after he claimed he was Satoshi Nakamoto and that he has the copyright to the Bitcoin whitepaper.

Craig Wright Faces Contempt of Court for Alleged Bitcoin IP Lawsuit Violation

Craig Wright, the Australian computer scientist who has long claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is once again facing legal challenges. This time, the Cryptocurrency Open Patent Alliance (COPA) is accusing Wright of contempt of court following an attempt to sue for $1.1 billion over intellectual property rights tied to the Bitcoin system.

In a binding judgment, a London judge declared that Wright was not the real inventor of Bitcoin. The judge granted a string of orders against Wright and his companies. This included an order restraining him from issuing any further litigation over Bitcoin.

“When it comes to each of the grounds of contempt, I have found each of them proved beyond reasonable doubt,” Judge James Mellor said Thursday.

A Kraken spokesperson told coinpress:

“Satoshi Nakamoto created Bitcoin to advance a decentralised financial future to which we can all contribute. Craig Wright usurped Satoshi’s legacy to kill that decentralised future. We are pleased the Court has finally punished Wright’s lawfare.”

Contempt of court is a criminal offense in England, punishable with prison time. Craig Wright violated the order in October after filing a £900 billion ($1.1 trillion) UK lawsuit. The lawsuit was filed over intellectual property rights related to Bitcoin. That was according to court documents prepared by COPA’s legal team for this week’s hearing.

Even though it is still unknown who the real Satoshi Nakamoto is, in the world of crypto, whispers of a Satoshi-era Bitcoin whale making bold moves are causing quite a stir. Every now and then some Satoshi-era stagnant wallet makes a move. The last one was a Bitcoin whale, who once bought BTC at $1, and is now betting on WallitIQ (WLTQ), the Ethereum token, at $0.02. He forecasted a massive 400,000% ROI akin to BTC’s legendary rise.

Craig Wright Denies Contempt, Says He Will Appeal Bitcoin Ruling

Although the lawyer didn’t directly represent Wright at the court case, he appeared via video conference. He stated that he would appeal. Jonathan Hough, for COPA, said in court filings that Wright “has expressed no remorse, let alone apologize,” for his actions. He added that Wright “remains pathologically incapable of accepting responsibility for his misconduct.”

“I do not believe I am in contempt,” Craig Wright stated. He further emphasized that if he really was in contempt of court, he is prepared to amend his lawsuit to clarify that the case has no connection to the ownership of the creation of the Bitcoin system.

A hearing to decide Wright’s contempt charges should be in December. In the meantime, Wright’s lawsuit against Block has been temporarily on hold.

Be it as it may, following the rate cut by the Federal Reserve of 25 basis points, Bitcoin fell further below $100K levels. This was also the largest single-day decline in the S&P 500 since November 22. The Fed was more hawkish, with fewer rate cuts projected for 2025 than initially expected. This resulted in broad market volatility. More than $800 million of liquidations were happening across the cryptocurrency market.

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Bitfinex hacker, Ilya Lichtenstein, who pleaded guilty last year to the 2016 theft of 120,000 Bitcoin from the exchange, has made his first public statement since his arrest in 2022.

In a five-minute video posted to X, Lichtenstein fully accepted responsibility for the hack, saying he had acted alone. The statement contradicted speculation, amplified in a Netflix documentary series, that his father might have been behind it.

Bitfinex Hacker Breaks Silence

Ilya Lichtenstein, the self-proclaimed Bitfinex hacker and mastermind behind the 2016 theft of 120,000 Bitcoin, spoke for the first time publicly since his arrest in 2022.

In a Tuesday video, Lichtenstein once again emphasized that he was the sole culprit behind the crime. He also dismissed  Netflix documentary suggestions that his father was involved or that he had ties to a Russian spy agency.

I have something to say#FreeRazzlekhan pic.twitter.com/9HIvOxcbgr

— Ilya Lichtenstein (@unrealdutch) December 19, 2024

Lichtenstein also said he was sorry and described what he would do after serving his time in prison. “After I get out of prison, I plan to work in the cybersecurity industry,” he said, emphasizing that he now truly understands cyber threats and is committed to combating them. His five-year sentence includes the time already served since his 2022 arrest while the case was pending.

He stated:

“My dad is no hacker, he doesn’t even know how to use Instagram. I offer my sincerest apologies to Bitfinex for all the stress that I have caused them. I knew what I was doing was wrong and I did it anyway because I didn’t care … I look back at the person I was then, and I hate myself. I hate myself.”

He addressed the restitution process of the funds stolen from the exchange. Bitfinex hacker added that over the past three years, he has worked to account for and return all plea-required assets. He also said that he will continue doing this.

A hearing on restitution will be in February that will determine if the money got back to Bitfinex or directly to its users.

Exchange hacks are nothing new. Recently, the Indian crypto exchange WazirX received a severe blow when the Delhi High Court ordered a fresh investigation into the matter. The court trashed the status report filed by the Delhi police regarding the WazirX hack case and asked for a fresh inquiry. Furthermore, only a few days ago, there were reports that Gate exchange suffered a hack attack, and that the users should withdraw their funds.

“Razzlekhan” Morgan Admits Role in Laundering Stolen Bitcoin

Bitfinex hacker’s wife, Heather Morgan, aka “Razzlekhan,” pleaded guilty as well. Charges were of money laundering conspiracy and conspiracy to defraud the United States. Prosecutors said Morgan learned about Bitfinex hack years later and that Lichtenstein asked her to help launder these Bitcoins.

Morgan, who gained notoriety for her bizarre rap videos, last month got 18 months in prison over the scheme. Recently, she had been peddling her own videos on Cameo for $125 apiece. She could report to prison as early as next month. The Bitcoin, which had a value of $70 million in 2016, is now worth around $12 billion.

The Netflix documentary on the case said that a large portion of the stolen money was still unaccounted for. However, Lichtenstein disagreed with the claim, stating that all money had been accounted for.

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Bitcoin miner MARA Holdings announced that it has bought 15,574 BTC with a total value of $1.53 billion, bringing its total number of Bitcoin held to 44,394 BTC, making the firm the publicly traded company with the largest reserves of Bitcoin.

Bitcoin Miner MARA Buys 15,574 BTC for $1.53 Billion

In a filing to the SEC, MARA said the acquisition was financed with proceeds from its recently completed zero-coupon convertible notes offerings. The firm also said it had repurchased about $263 million in aggregate principal amount of its existing convertible notes due 2026. It intends to use the remaining proceeds of the notes to acquire more Bitcoin.

MARA raised $1.925 billion from 0% convertible notes in November and December. Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 15,574 BTC for ~$1.53 billion at ~$98,529 per #bitcoin and repurchased ~$263 million in aggregate principal amount… pic.twitter.com/ycGRk9BYfv

— MARA (@MARAHoldings) December 19, 2024

The company announced that it had acquired the Bitcoins at an average price of $96,000 per BTC. MARA also pointed out a Bitcoin yield of 12.3% QTD and 47.6% YTD. With this transaction, MARA now possesses 40,435 BTC, worth about $3.9 billion at current market prices.

The move is reminiscent of a strategy popularized by MicroStrategy’s Michael Saylor, focused on large-scale Bitcoin accumulation. Saylor recently stated he sees MARA Holdings entering Nasdaq 100 Index soon.

Buying Spree After the Price Drop

MARA announced the purchase just a day after Federal Reserve Chair Jerome Powell clarified that the central bank cannot own Bitcoin.

The timing of the news coincided with a plunge in markets. Bitcoin fell 5% in its biggest plunge in more than three months as a wider sell-off was sparked by the Fed’s hawkish comments. The comments mentioned the trajectory of interest rates and the scant possibility of rate reductions in 2025.

For a while, it approached, but then pulled back from, a $100,000 perch. This was the impact of both, Powell’s hawkish views and unease of Bitcoin as a reserve asset.

Institutional Interest Soaring

Hut 8 (HUT) joined the group of Bitcoin miners buying Bitcoin on the open market along with giants like MicroStrategy and MARA Holdings.

Furthermore, the company based in Miami announced on Thursday buying 990 BTC for an average price of $101,710 each. This latest purchase increased Hut 8’s total Bitcoin in reserve to 10,096 BTC, worth close to $1 billion. This puts the company among the top 10 largest corporate Bitcoin holders.

Recently, RIOT bought 667 BTC at an average price of $101,135 on December 16.

For Bitcoin miners, buying large amounts of Bitcoin on the open market has proved a boon. Therefore, it has opened up new fundraising avenues in a period marked by pressures on profits after the recent Bitcoin halving.

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In the 2025 Crypto Market Outlook presented by Coinbase, five influential areas have been pinpointed that will shape the future of the cryptocurrency market.

The insights underline key trends and developments that run deep, from increased adoption of stablecoins to innovative tokenization and deeper decentralization in finance. Here is a closer look at the findings:

Stablecoins: Crypto’s Killer App Gains Momentum

The future of cryptocurrency is taking shape, and this is what the 2025 Market Outlook by Coinbase means for key forces moving in that transformation: everything from increased utilization of stablecoins in commerce to the increasing tokenized asset world. This trend points toward a more mature and integrated financial landscape in digital assets.

Our 2025 Crypto Market Outlook is live. From altcoins to ETFS, gaming to DePIN, we explore all the angles.

5 areas to watch ↓

— Coinbase Institutional (@CoinbaseInsto) December 18, 2024

Stablecoins have cemented their position as one of the most important building blocks in the crypto ecosystem, with market capitalization surging 48% in 2024 to $193 billion as of December 1. This exponential growth underscores their utility in facilitating faster, cheaper, and more efficient global payments. Some analysis even showed that stablecoin market cap recently surpassed $200 billions, driven by crypto trading and non-crypto use cases like payments and remittancess.

This year, stablecoins processed more than $27 trillion in transactions, more than three times the volume in 2023. Though they’ve conventionally served as a means to trade, stablecoins are about to become essential to worldwide commerce and capital flow. According to Coinbase analysts, their market capitalization could reach $3 trillion within five years-a threshold beyond which they will have become an indispensable part of the financial system.

Tokenization: Transforming Real-World Assets

Tokenization of real-world assets has emerged as a strong force, with the tokenized RWA market growing over 60% to $13.5 billion in 2024. Besides traditional applications in US Treasuries and money market funds, tokenization is finding its way into several diverse areas like private credit, commodities, corporate bonds, real estate, and insurance. Tokenized US Treasuries have broken a major barrier, surpassing $3 billion in total value, according to latest data from RWA.xyz.

By leveraging blockchain technology, firms explore novel ways of deploying tokenized assets as collateral for financial transactions to ease operations and mitigate risks.

As Coinbase believes, sustained investment and technological refinement in 2025 will position tokenization as a cornerstone of the current market cycle, changing portfolio construction and investment processes forever.

Crypto ETFs: Redefining Market Dynamics

The introduction of US spot Bitcoin ETFs in 2024 has been a game-changer for the crypto landscape, driving increased institutional participation.

Today, a wide array of institutional investors-including endowments, pension funds, hedge funds, and family offices-own these ETFs. This has created a stabilizing source of demand for cryptocurrencies. As that process is expected to continue over time, possible spot ETF endorsements of XRP, SOL, LTC, and HBAR could serve only to extend the market in another direction. However, just recently, Jay Jacobs, head of BlackRock’s ETF department, turned down recent rumors surrounding the company’s plan to file an XRP ETF application.

In addition to the likely rule changes like incorporating staking into ETF products or changes in creation/redemption mechanisms, the investment rewards and market efficiency likely would get even better.

DeFi: Moving into a New Era of Innovation

Decentralized finance (DeFi) is experiencing a resurgence after facing setbacks in previous cycles. Lending protocols are achieving all-time highs in total value locked (TVL), while decentralized exchanges (DEXs) are capturing an increasing share of trading volumes.

Coinbase says that novel applications such as decentralized physical infrastructure networks (DePIN) and prediction markets are leveraging DeFi’s foundational principles to offer innovative user experiences. Recently, Messari mentioned in its report DePIN saw immense success in 2024 but still faces significant challenges as it enters 2025.

Moreover, the changing regulatory environment and progress onchain verification could be a real opening for increased institutional involvement in DeFi. In all, this implies that DeFi is getting well-positioned to spread its influence and change the way financial markets work.

Regulatory Clarity: A Tailwind for Crypto

The crypto industry is at an interesting juncture-a period where regulation, after years of uncertainty, may finally reach an inflection point. In the United States, a bipartisan, pro-crypto majority in Congress with senator Cynthia Lummis leading, is likely to introduce an omnibus regulatory framework that brings clarity and stability to the market.

Pre-eminent among these is stablecoin legislation and the end of enforcement-driven regulation. Globally, G20 nations and major financial centers are writing rules to make way for digital assets and create an ecosystem that nurtures innovation and growth.

These developments in regulations are very likely to make institutions and consumers more confident, leading to greater adoption of cryptocurrencies.

A Pivotal Year Ahead

The crypto industry enters 2025 at the crossroads of regulatory, technological, and market evolution. According to Coinbase’s report, this year might be a turning point that could determine the long-term fate of the industry.

Indeed, stablecoins, tokenization, ETFs, DeFi, and regulation are going to further accelerate this growth. These will, at the same time, have implications for the redefinition of financial markets and, moreover, the transformative potential of blockchain technology in the wider economy. 2025 will be a very interesting year for the crypto industry.

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Tokenized US Treasuries have broken a major barrier, surpassing $3 billion in total value, said RWA.xyz, one of the leading data and analytics platforms for tokenized real-world assets.

This market only crossed $2 billion just 90 days ago. The latest run-up is a function of the success Hashnote has enjoyed with USYC. At the beginning of 2024, the total value of tokenized treasuries was hovering under $750 million, representing a rise of 300% year-over-year.

Tokenized Assets Surge 32% in 2024, US Treasuries Break $3B Barrier

According to the analytics platform RWA.xyz, 2024 has indeed been an important year for the tokenization of assets. The total market capitalization of tokenized assets increased by 32%. Tokenized US Treasuries have, therefore, broken a major barrier, surpassing $3 billion in total value in only 90 days.

If one excludes stablecoins, the different classes of tokenized assets have been expanding rapidly. According to data, tokenized US Treasuries are up 179%, private credit by 40%, commodities by 5%.

Alongside this increase in market value, the growing adoption of developing regulatory frameworks in places such as the United States, the Middle East, and Hong Kong has fostered even more experimentation among legacy financial institutions and driven unprecedented institutional interest to the space. Just recently, Chainlink integrated with Coinbase‘s Project Diamond to enable cross-chain interoperability for tokenized assets.

BREAKING: Tokenized US Treasuries Surpasses $3B Total Value

Less than 90 days after reaching $2B, the tokenized treasuries market has added another $1B in value, driven by the success of Hashnote's USYC.

At the start of 2024, it was less than $750M, bringing YoY growth to 300%. pic.twitter.com/rqCeHY29i5

— RWA.xyz (@RWA_xyz) December 18, 2024

Since the start of 2024, new synthetic stablecoins have emerged, backed by non-cash equivalents like gold or basis trades. This has raised concerns about whether the term “stablecoin” is too broad. Stablecoin transactions have surpassed PayPal’s annual volume and are approaching Visa levels. However, a Visa report revealed that up to 90% of stablecoin transactions were “inorganic,” raising doubts about their real-world utility.

That conclusion is being further examined in studies by researchers including TAC members.

Lower Interest Rates to Reshape Tokenized Asset Market in Late 2024

In 2024, says RWA, there has been considerable activity on the regulatory front, more specifically on stablecoins.National frameworks are emerging in Asia, while MiCA regulations in the EU recently finalized their policy draft.

In the United States, active lobbying is also being done for stablecoin regulation. This is extremely important since recently, Stablecoin market cap surpassed $200 billions, driven by crypto trading and non-crypto use cases like payments and remittancess. Meanwhile, the regulation of tokenized US Treasuries and real assets remains more exploratory, consisting of regulator-industry hearings and sandboxes.

Moving well into the fourth quarter of 2024, further clarity will emerge regarding how those regulations are shaping the adoption and market structure of the stablecoin market. Additionally, this may influence perceptions of tokenization globally. As a result, new precedents could be set for regulating tokenized asset classes.

Tokenized US Government Debt Outperforms in 2024, Up 179%

Since the beginning of 2024, short-term US government debt has been the best performer in the tokenized markets. It’s important to mention that its market capitalization for all products was up 179%. Gains have partly been supported by relatively high post-COVID interest rates.

However, with a Federal Reserve pivot expected and lower interest rates likely, investors may reassess portfolios. RWA analysts highlight new opportunities for tokenized US Treasuries. These markets could benefit from lower rates, testing the resilience of higher-rate products.

Over the last couple of years, the main focus of tokenized asset issuers has been to replicate traditional financial products in a digital format. With the necessary infrastructure now largely in place, however, issuers can turn their attention to the unique benefits that tokenization provides. These include 24/7/365 liquidity, cross-collateralization for trading margin, and natively composable and interoperable asset depositories.

In the final quarter of 2024, expect continued exploration into the distinct benefits tokenization can unlock in reshaping financial markets.

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The latest interest-rate decision from the FED meeting today is scheduled for 7 p.m. UTC, followed by a speech with Fed Chair Jerome Powell at 7:30 p.m.  UTC.

Federal Reserve officials will likely cut borrowing costs for a third straight meeting this week, but signal a more cautious approach to future rate cuts in 2025. The US economy has been more resilient than people were expecting just a few months ago. Recent data showed inflation is cooling more slowly than expected and a labor market stronger than feared.

Fed Expected to Cut Interest Rates for Third Straight Meeting Today

The Fed meeting today regarding the latest Federal Reserve interest rate decision is set for 7 p.m. UTC today, followed by a speech and press conference with Fed Chair Jerome Powell at 7:30 p.m. UTC.

Economists broadly expect the Federal reserves to cut rates for a third straight meeting, which would lower the federal funds rate to a target range of 4.25% to 4.5%. A 25-basis-point rate cut would extend the total reduction to one full percentage point since September, after earlier cuts of 0.5 and 0.25 percentage points in September and November, respectively.

Bitcoin price fell early on Wednesday, retreating from a record high set earlier in the week, as investors’ focus now shifts to the upcoming Fed meeting today. It is now question whether the Bitcoin rally will continue further even after Powell’s speech.

At the time of writing, the price of the world’s largest cryptocurrency was down 2.99%, trading at $103,450. Bitcoin reached an all-time high of $108,267 Tuesday afternoon, making this the second consecutive day the cryptocurrency has set a new record.

The CME FedWatch Tool puts the probability of a 25-basis-point rate cut at 95.4%, with only a 4.6% chance of the rates being left unchanged. This has slightly readjusted from yesterday when the probability of a rate cut stood at 98%.

Ethereum price has taken a similar hit: down 2.34%. In total, crypto market capitalization today stands at about $3.62 trillion and fell 3.21%.

Bitcoin had fallen back to 103,000 dollars from a high of 108,000 dollars on Tuesday in a broader decline in altcoins. Ripple (XRP), Solana (SOL), Dogecoin (DOGE) and Binance Coin (BNB) all register slight losses.

Powell’s Dot Plot in Focus: Crypto Markets Await Fed’s 2025 Rate Projections

Cryptocurrencies were higher on Tuesday, after Ripple announced the launch of its new stablecoin, RLUSD. Bitcoin’s recent rise has been growing on bets on more crypto-friendly regulation with the incoming Trump administration.

On Wednesday, however, the rally ran out of steam as investors became cautious ahead of the Fed meeting today. Cryptocurrencies are generally very risky investments that usually flourish when the Fed is cutting rates.

With predicted 25-basis-point reduction, the publlic is expecting Jerome Powell to indicate potential easing in the monetary cycle for 2025.

Greg Daco, chief economist at EY, noted that main thing for Powell’s decision is to weigh the need for a 25-basis point rate cut. It should be weighed against the robust set of economic and inflation projections. Another focus of Federal Reserves meeting will be on its updated “dot plot,” which plots federal fund rate projections.

In September, policymakers forecast two additional rate cuts in 2024 and four lower cuts in 2025. However, recent inflation reports and officials’ cautious comments have called into question the 2025 projections. The Fed meeting today is likely to drive market expectations on the course of US monetary policy for the next year. Meanwhile, SPDR S&P 500 ETF Trust trades in the negative, down 0.41% .

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Solana holds onto crucial levels of support as the crypto market recovers gradually from the sharp correction earlier in the day. It changes hands at $216.53, with Solana declining intraday at 2.33% so far. However, the cryptocurrency seems to be fundamentally strong and resilient.

Interestingly, the network growth for Solana has reached a new all-time high, highlighting its ever-growing adoption and vibrant ecosystem activity. With this, could the surging strength in the network translate to a breakout rally for Solana?

Solana Recovers from Sell-Off, But Faces Key Resistance at EMA

Solana (SOL) is maintaining critical support levels as the broader crypto market begins to recover from a sharp correction earlier today. Currently trading at $216.53, the token price has experienced a 2.33% intraday decline. Despite the dip, the cryptocurrency continues to demonstrate robust fundamentals and resilience, signaling potential for a sustained rebound.

Like many cryptocurrencies, Solana has seen significant sell pressure around its all-time high of $265. A wave of sell orders, compounded by the broader market’s downturn following a Bitcoin price dump, drove Solana lower to around $205. But SOL bounced back quickly to $210, indicating possible recovery.

This channel breakout was done within a bullish flag pattern formation at the SOL for this price range. With this structure, the minimum expected could be minor upside towards $265 or higher for the upcoming days.

Despite the recovery, SOL has struggled to reclaim positions above its 50-day and 200-day Exponential Moving Averages (EMAs). Bulls are trying to resume the rally, though any significant upward momentum may be short-lived as the year winds down.

Going into 2025, the longer-term price prediction for Solana looks bright. On larger time frames such as the daily and the week, bulls could have a fair shot at gunning for a significant price uptick, likely propelling SOL towards $500. Such speculation could be spearheaded by the much-awaited Solana ETF approval and gradual market confidence in the asset.

The Solana network has reached a new all-time high in light of the general market recovery after the violent pullback. The transactions on the network daily have now surged to 66.9 million, making it higher compared to all other blockchain ecosystems. The rise indicates the growing importance of Solana in the blockchain ecosystem; however, this includes non-vote transactions. Furthermore, Solana has surpassed both Ethereum and Binance Smart Chain in DEX trading volume.

Solana Network Hits All-Time High Despite Price Dip

In the last 24 hours, Solana had a volume of $5.441 billion, while Ethereum had $2.562 billion, and Binance Smart Chain had $2.319 billion. The feat is quite remarkable since Solana’s trading volume is higher than the sum of its closest rivals.

If the bullish momentum is maintained, then the uptrend will test the confluence of the overhead resistance trendline and 38.20% Fibonacci retracement level, which is near $226. A sustained rally with a bullish breakout could drive the price towards the $250 level.

BREAKING: SOLANA DAILY TRANSACTIONS HIT NEW ATH pic.twitter.com/G313oZzAit

— DEGEN NEWS (@DegenerateNews) December 18, 2024

On the other hand, a close below $215 may trigger a retest of the $203.27 support level and further pressure the critical $200 psychological mark.

In a nutshell, Solana is steadily gaining bullish momentum, showing some strength against market volatility. While SOL maintains key supports, the unprecedented growth seen in the network will position it for high targets for ambitious bulls in the coming year.

Can SOL Reach $850 in This Market Cycle?

With its ultra-fast transactions and negligible fees, along with the growing ecosystem of NFTs and DeFi projects, Solana has carved a significant niche in the crypto space. At an unrivaled scalability rate with an adoption rate to match, a Binance analyst said Solana could even hit $850 this market cycle. Ambitious, perhaps, but not entirely impossible should several key factors fall in its favor.

The capability to process 65,000 transactions per second propels Solana into the leadership positions in blockchain scalability. It is way ahead of the competition, such as Ethereum, which makes it the number one choice for both developers and users who seek speed and affordability. Low transaction fees further seal its appeal and lure many projects, especially within the DeFi and NFT sectors.

Key metrics all point to Solana being in the middle of a growth spurt. Growing TVL, increasing staking adoption, and healthy trading volumes paint a picture of continued demand. These indicators point toward a blockchain ecosystem thriving in a competitive market landscape.

Binance analysts remain cautiously optimistic. While $850 might require exceptional catalysts, a more conservative target of around $500 is achievable within this cycle. With the proven track record, scalability, and adoption momentum in place, Solana emerges as one of the hot contenders for significant price appreciation. Whether it can ever reach such ambitious heights will be a function of market dynamics and its ability to sustain growth in a rapidly evolving ecosystem.

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Jeremy Allaire, Circle CEO and co-founder, recently discussed stablecoin legislation and Bitcoin’s role within the global financial sector.

Allaire, a long-time voice in the crypto space, said constructive regulation should continue to help the growth and innovation of the digital asset market. While he thinks that Bitcoin’s fixed supply could position it as a potential reserve asset, when it comes to stablecoins Allaire opines that, with federal law, stablecoins could become true digital cash.

Circle CEO: Federal Stablecoin Legislation Key to Mainstream Crypto Adoption

In a recent interview, Jeremy Allaire, Circle CEO, shared his thoughts on the volatile outlook for cryptocurrency regulation and what it holds for Bitcoin. The central theme of his discussion was that clear federal legislation needs to be passed around stablecoins if the mainstream is to widely adopt digital assets. While he believes Bitcoin’s fixed supply could make it a viable reserve asset, he argues that federal legislation could enable stablecoins to function as true digital cash.

Speaking about the US crypto policy under the new administration, Allaire recognized a big shift and stated:

“We’ve gone from an administration that was often hostile to crypto to one with broad bipartisan support for constructive laws and rulemaking.”

He also emphasized clear definitions of digital assets in legislation to allow a more strong and regulated marketplace for cryptocurrencies.

When talking about stablecoins, Circle CEO emphasized the lack of federal legislation that would classify dollar-backed stablecoins as legitimate electronic money within the US financial system. According to him, such a regulatory framework would be one in which stablecoins would finally achieve mainstream adoption.

He added:

“Every company, financial institution, and public corporation worldwide could treat stablecoins as digital cash, dramatically expanding their use.”

Circle recently partnered with Binance and the partnership comes as an endeavor by the firms to expand the adoption of the USDC stablecoin while also jacking up the global digital-asset financial services ecosystem.

Bitcoin as a Reserve Asset? Allaire Discusses Its Long-Term Value

Turning to Bitcoin, Allaire mentioned the role of Bitcoin as a reserve asset so much reiterated by Donald Trump. Allaire also spoke about what that would mean for US fiscal policy. He spoke about discussions that have been going on around the strategic reserve of Bitcoin, like Texas trying to make its own and the constitutional issues with states managing their own currencies. However, he reiterated the broader significance of sound money principles.

Circle CEO said:

“We need full-reserve digital dollars, like stablecoins, to be a mass export product of the United States.” 

He also added that what the US needs is to make sure the dollar stays the internet’s leading currency while advancing the principles of sound money.

Allaire went on to discuss the long-term value proposition for Bitcoin, pointing to the fixed supply and potential of the asset to serve as digital gold. While he was hesitant to provide a terminal value for Bitcoin, he suggested its market cap could grow significantly if fiat currencies integrate digital gold-like instruments into their reserves.

He concluded by emphasizing the need for clarity in regulation and innovation-friendly policy. “The world needs to operate on sound money principles,” Circle CEO said, further advocating for a financial system that balances innovation with stability. As stablecoins and Bitcoin continue to shape the future of finance, Allaire’s insights underscore the importance of thoughtful regulation to harness their full potential.

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Wyoming Senator Cynthia Lummis has been very supportive of the new administration’s attitude toward digital assets, especially when it comes to Bitcoin reserve. In her tweet she said she thinks that 2025 will be a very important year for cryptocurrencies, referring to the appointment of David Sacks as the “Crypto Czar” of the administration.

Sacks is a well-known venture capitalist and former PayPal executive who is likely to play an important role in the US government’s policies on cryptocurrencies.

Senator Cynthia Lummis Advocates Strategic Bitcoin Reserve and Fiscal Responsibility

Senator Cynthia Lummis has become one of the staunchest supporters of the new administration’s policy on digital assets, especially Bitcoin. Recently she stated that 2025 will be a defining year for cryptocurrencies, citing the appointment of David Sacks as the “Crypto Czar” for the administration. Sacks is a well-known venture capitalist and former executive at PayPal.

2025 will be the year for bitcoin & digital assets. With David Sacks as Crypto Czar, this will be the most pro-digital asset administration ever! I look forward to working closely with @DavidSacks to pass comprehensive digital asset legislation & my strategic bitcoin reserve. pic.twitter.com/4TAT1sTvY3

— Senator Cynthia Lummis (@SenLummis) December 17, 2024

Lummis also looks forward to working with Sacks on legislation related to digital assets and her strategic Bitcoin reserve proposal. The move follows Trump’s endorsement of a national Bitcoin reserve, a major federal pivot into digital currencies.

She recently met with Sacks, referring to him as a “champion for digital assets” and a strong ally for her Bitcoin Reserve plan. She says she will work with him and the incoming administration to “restore fiscal responsibility.”

The Senator from Wyoming is staunchly advocating for Bitcoin as an integral part of the United States’ fiscal policy. She suggests converting a portion of the US Treasury’s gold to Bitcoin. This would happen by using gold certificates instead of outright selling to avoid affecting the federal balance sheet.

Previously, Lummis said this plan would save requiring $90 billion in direct outlays to purchase Bitcoin at current prices. This is the first time her national Bitcoin reserve plan connects directly to the Treasury’s gold reserves.

Bitcoin Hits New ATH as Trump Announces US BTC Strategic Reserve Plans

Bitcoin reached a fresh all-time high over $108,000 on Tuesday, as crypto supporters went into overdrive after President-elect Donald Trump promised US Bitcoin strategic reserve.

It is not clear whether Trump, under the executive powers at his disposal, could unilaterally determine to create a Bitcoin reserve or if it is required by an act of Congress. Some believe the US President, through an Executive Order, has the authority over directing the US Treasury’s Exchange Stabilization Fund with its power to purchase and sell foreign currencies, potentially even hold Bitcoin.

This reserve may involve Bitcoin seized by the government, from criminal activities, amounting to about 200,000 tokens, worth roughly $21 billion at its current price, according to bitcointreasuries.net. During a speech back in July, Trump unveiled a plan for a Bitcoin reserve – a stockpile of this seized Bitcoin could theoretically form some sort of starting point, though it’s not certain through what legal means they might be transferred from the Justice Department.

In November, Senator Lummis said that her bill would help the US “pay off half the debt in 20 years”. “This would help protect us from inflation and strengthen the U.S. dollar internationally,” she said. A strong dollar, advocates argue, would grant the United States more bargaining power against foreign opponents like China and Russia.

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