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In a historic move that sets a precedent for decentralized autonomous organizations (DAOs), 1inch DAO, the entity behind the 1inch Network, has voted to secure “legal advisory services” from STORM Partners. Notably, this decision comes amid growing regulatory scrutiny on the crypto and decentralized finance (DeFi) sectors. 1inch DAO Votes To Onboard STORM Partners For Legal Advisory Services Following voting that ended on January 9–overwhelmingly supported by the 1inch community–holders decided to onboard STORM Partners. This marks a significant step forward in the DAO’s efforts to navigate the complex legal landscape and protect its members. With STORM Partners on board, 1inch DAO becomes the first autonomous organization in the broader crypto ecosystem to access expert guidance on compliance, governance, and legal defense. Out of this landmark move, the DAO will receive expert legal advice. As such, they will strive to operate within the confines of applicable laws and regulations in the United States and beyond. This move is particularly noteworthy given the recent United States Securities and Exchange Commission (SEC) concerns over the crypto industry and the DeFi sector. From lawsuits, the agency noted that individuals who engage in illegal activities, including offering unregistered securities, via a DAO could be sued individually. To illustrate, following a lawsuit from the SEC, BarnBridge DAO agreed to stop selling what the agency said were “unregistered securities.” As part of the settlement, the DAO and its two founders, Tyler Ward and Troy Murray, agreed to pay $1.7 million in damages. Lawsuits Have Devastated DAOs In The Past By onboarding legal counsel, 1inch DAO proactively addresses these concerns. It also aims to protect community members against the bruises of the law. The DAO said the decision was a “deliberate effort to balance preserving decentralization and addressing operational challenges.” Through STORM Partners, the DAO will have a framework and receive legal support, laying a path for others to follow. This decision considers the adverse impact of a lawsuit from a government agency like the SEC. In June 2023, US District Judge William H. Orrick ruled in favor of the US Commodity Futures Trading Commission (CFTC), agreeing that Ooki DAO issued unregistered commodities. In a statement, the 1inchDAO new legal partner, STORM, stated the following, hinting at the services and the way they will attempt to protect the entity: Furthermore, by onboarding a legal advisor, the community aims to protect the DAO’s decentralization while maintaining “regulatory compliance.” It remains to be seen if other DAOs will follow suit and vote to elect a legal representative for their communities.
 
DUBAI, United Arab Emirates–(BUSINESS WIRE)–eesee, an innovative one-stop liquidity solution and gamified marketplace for sellers, has announced the successful closing of its $2.85 million fundraise. The raise included a $1.1 million seed round and a $1.75 million private round, with participation by SevenX Ventures, Maven Capital, MetaBros, Contango Digital Assets, BasementDAO, and more. The company also announced partnerships out of the gate that include Ape Terminal, ApeCoin, Polygon, and Chainlink. Currently, no gamified digital asset marketplaces allow sellers to sell digital assets creatively while eliminating most of the buy-side friction currently seen in the industry. The only way to tap into an NFT community is by buying an asset, a massive barrier for new entrants who are unable to afford the floor price of an NFT. With eesee, sellers can create a customized gamified drop, such as a decentralized onchain raffle, to effectively sell an asset above the current floor price. For buyers, raffles can include action-based entries, where participation in a raffle is determined by completing certain tasks. Similar to airdrop incentives, these campaigns offer the possibility of being rewarded with assets for little to no money. Losers of raffles will also be rewarded with points and airdrop opportunities to ensure mutual incentives across the platform. Vova Sadkov, Founder and CEO of eesee explains, “We see this as a massive opportunity to tap into the next generation of digital asset participants interested in owning and participating in NFTs, tokens, and RWAs. Our gamified approach creates a transparent and legitimate liquidity solution wrapped around various campaigns that align with the ethos of the crypto industry. New entrants, avid collectors, and even speculators can all benefit from the platform.” Murtaza Bohari at Maven Capital says, “eesee is attractive because it taps into two of the fastest growing segments of the industry, NFTFi and SocialFi. The potential of the marketplace goes far beyond a transactional level into a massive community-building opportunity. The use of built-in chats and discussion boards on eesee is an example. In theory, the logic behind the platform could eventually apply to any asset, not just digital, that is in demand.” The platform has partnered with Chainlink to use Chainlink VRF to officially select winners in each campaign. Additionally, in October 2023, ApeCoin DAO approved a partnership that will drive cross-collaboration between each respective community. To date, eesee’s testnet has attracted over 262,309 registrants with an average wallet age of one year. Over the last 90 days, the wallets have had 858,000 transactions worth over $174 million, implying an experienced user base to date. The company’s native token, $ESE, is scheduled to be launched in an upcoming TGE in Q1. About eesee: eesee is a one-stop liquidity solution for sellers, with a fun and safe raffle system at an affordable cost. The community-centered platform is tailored for digital assets, tokens and RWAs and focuses on a win-win value proposition. Sellers can create raffles to sell entries to interested buyers. Buyers can buy as much as they like, helping to increase their chances of winning. After the pool is sold out, a raffle determines the winner. Losers will be rewarded with points for contributing to a pool which will lead to future rewards. Website: https://eesee.io/ Twitter: https://twitter.com/eesee_io Discord: https://discord.gg/eesee Telegram: https://t.me/eesee_io Contacts Media: Vova Sadkov, [email protected]
 
XRP’s value has recently fallen by 10.83% in the last 30 days, reaching $0.5553. The coin’s recovery is closely tied to Bitcoin’s fate, particularly the potential approval of a spot Bitcoin ETF by the SEC. Approval of the Bitcoin ETF is seen as a potential bullish catalyst for XRP, despite recent uncertainties and compromises in SEC accounts. XRP has struggled to gain momentum, experiencing a continuous downturn. As of the latest update, the coin’s value has declined by an additional 10.83% over the last 30 days, settling at $0.5553. XRP’s path to recovery is currently intertwined with the fate of Bitcoin (BTC). The imminent approval of the spot Bitcoin Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC) serves as a potential bullish catalyst that could propel the coin out of its current slump. XRP clings to Bitcoin ETF approval While the approval of the spot Bitcoin ETF is highly anticipated, recent events, such as the compromise of the official SEC X account, have introduced uncertainties. Despite the skepticism, the approval of the Bitcoin ETF could trigger a significant market shift, benefiting XRP, among other cryptocurrencies. Should the SEC grant approval for the spot Bitcoin ETF, XRP stands to be one of the primary beneficiaries. The correlation between Bitcoin’s success and a potential surge in XRP’s price underscores the pivotal role of regulatory decisions in shaping the fate of digital assets. The approval of the spot Bitcoin ETF may not only impact XRP but also set the stage for the introduction of other spot crypto ETFs. Rumors and fake filings associated with BlackRock in November 2023 hinted at the possibility of XRP spot ETFs entering the market. Despite the uncertainties surrounding the SEC’s timeline and potential approval, the emergence of a Bitcoin ETF holds the promise of creating a more bullish future for XRP and the broader cryptocurrency industry. Investors and enthusiasts keenly await regulatory decisions that could pave the way for a market resurgence.
 
Ethereum, the second-largest crypto by market capitalization, is currently exhibiting signs of a bullish breakout, as observed by two prominent analysts in the crypto space. According to World Of Charts, Ethereum shows consolidation within a bullish pennant pattern. This technical formation typically suggests continuing an upward trend in Ethereum’s case. According to the analyst, if Ethereum successfully breaks out of this pattern, it could surge toward a significant level of $3,500. Crucial Resistance Zone: Ethereum Path To Breakout Adding to World Of Charts’ optimistic outlook, crypto trader Skew has identified the $2,320–$2,382 range as a key resistance zone for Ethereum. This price range has historically acted as a barrier to Ethereum’s upward movement, with “numerous rejections” witnessed at these levels. Skew emphasizes the importance of Ethereum closing above $2,400 on the 1-hour and 4-hour charts. This decisive move would breach the resistance zone and confirm Ethereum’s bullish momentum. Skew also noted that technical indicators such as the Relative Strength Index (RSI) and stochastics still display significant momentum, supporting the potential for Ethereum’s continued upward trend. Ethereum’s Solo Bull Run Amid Market Turbulence Despite recent market turbulence, including the plunge of several cryptocurrencies, including BTC, following the Securities and Exchange Commission’s (SEC) fake spot ETF approval announcement, Ethereum has shown resilience and is currently in the green. Over the past 24 hours, Ethereum has climbed by 5.5%, surpassing the $2,400 mark before a slight retracement to around $2,381 at the time of writing. This bullish trend is further supported by increased trading volume, which surged below $30 billion to approximately $39 billion in the past day. Skew suggests that Ethereum’s bullish momentum could receive an additional boost from the potential approval of a Spot BTC ETF. If such approval were to come to fruition, it could further support Ethereum’s upward trajectory. This sentiment is echoed by Michaël van de Poppe, another renowned crypto analyst, who also foresees Ethereum’s approach to its 2022 low as a precursor to a potential breakout. Van de Poppe believes that Ethereum’s current positioning near last year’s low could be crucial in absorbing liquidity and fueling a bullish breakout. Van de Poppe’s analysis highlights the broader market context, specifically the awaited decision on a spot Bitcoin ETF in the US. An approval, he predicts, could notably impact the ETH/BTC trading pair, potentially triggering a sharp price movement known as a liquidation candle. Following this, Van de Poppe anticipates a significant reallocation of funds into Ethereum, accompanied by a bullish weekly divergence, propelling Ethereum onto an upward trajectory. Featured image from Unsplash, Chart from TradingView
 
LAS VEGAS–(BUSINESS WIRE)–$AP #Artificial_Intelligence—RiskOn International, Inc. (Nasdaq: ROI) (“RiskOn,” or the “Company”), in partnership with Meetkai, Inc. (“Meetkai”), recently announced the launch of “askROI.com.” askROI is an innovative artificial intelligence (“AI”) product that is designed to improve the way businesses and individuals manage and access their data. On January 8, 2024, Meetkai and members of its team appeared on Fox Business with Charles Payne to discuss the future of Meetkai and its mission along with its partnership with askROI and the Company. The recording from the live show can be found at the following link. https://www.foxbusiness.com/video/6344499590112 The Company is excited for the future of this new product and its partnership with Meetkai. askROI is currently accepting requests for its pilot programs where it seeks to create custom enterprise solutions for businesses to help manage their data and improve efficiency. Interested parties can inquire at askROI.com. About RiskOn International, Inc. Founded in 2011, the Company owns 100% of BitNile.com, Inc., including the BitNile.com metaverse platform (the “Platform”). The Platform, which went live to the public on March 1, 2023, allows users to engage with a new social networking community and purchase both digital and physical products while playing 3D immersive games. RiskOn recently formed GuyCare to open specialized men’s healthcare clinics. In addition, the Company also owns approximately 66% of Wolf Energy Services Inc. (OTCQB: WOEN) indirectly and approximately 70% of White River Energy Corp (OTCQB: WTRV) directly. About MeetKai, Inc. MeetKai Inc. is an AI company based in Los Angeles, California, founded by Executive Chairwoman Weili Dai and CEO James Kaplan in 2018. Listed by Forbes as a leading innovator in the AI speech space, MeetKai’s AI applications have reached 75+ million users worldwide. Visit www.meetkai.com for more info and the latest MeetKai news. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and RiskOn will not undertake any obligation to update any of these statements publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. In addition to risks relating to the acceptance of the Platform by individuals, competition with much larger companies operating metaverses and RiskOn’s ability to raise capital, investors should review risk factors, that could affect RiskOn’s business and financial results which are included in RiskOn’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, Forms 10-K, 10-Q and 8-K. All such filings are available at www.sec.gov and on the Company’s website at www.riskonint.com. Contacts [email protected] or 1-800-762-7293
 
The collection paves the way for next-generation corporate sustainability initiatives that leverage blockchain and NFT technology to optimize climate change efforts. SAN FRANCISCO–(BUSINESS WIRE)–Ecosapiens, a climate technology platform that creates carbon-offsetting digital collectibles using blockchain technology, has launched its first series of carbon-capture digital art collectibles in collaboration with Polygon Labs, the growth and development team for the Polygon protocol. To educate and engage the broader Polygon ecosystem, the series, titled Polysapiens, are free to mint for all collectors, creators, and members of the Polygon community. The project represents a new way for corporations to leverage blockchain and NFT technology to implement impactful sustainability initiatives. The Polysapiens collection includes unlimited 1 of 1 carbon-backed digital art collectibles underpinned by 1000 tons of CO2 from Reseed and a number of blockchain-based carbon credit providers such as Andes.bio, Mangrove DAO, and Solid World mangrove restoration. The collectibles are dedicated to investing in mangrove restoration, soil regeneration, and mineralization projects that permanently remove CO2 or avoid the creation of CO2 in the atmosphere. “Many corporations engage in sustainability programs such as carbon offsets, but the carbon offset system currently faces obstacles concerning transparency, verification, and authentication of the credits’ efficacy or impact,” said Nihar Neelakanti, CEO and co-founder of Ecosapiens. “Leveraging the transparent, immutable nature of blockchain, NFTs solve this challenge and help users ensure that their carbon credits are in fact contributing the level of impact promised. The Polysapien project paves the way for other companies who have ambitious sustainability goals, but are also seeking ways to better engage their customers and stakeholders in their climate efforts in a creative way. Our mission is to bring this application of blockchain technology within sustainability initiatives to other industries beyond the Web3 space, including the consumer retail, hospitality, and professional services industries.” The collectibles will account for Polygon Labs’ scope 3 emissions for 2023. The majority of the carbon credit providers are on-chain, a part of Polygon Labs’ selection strategy in an effort to support improvements to the Voluntary Carbon Market (VCM) through the use of blockchain and other frontier technologies. Some improvements include transparency, traceability, immutability, trust, and even economic fairness and inclusion for underserved populations. The Polysapiens collection follows the launch of Celosapiens earlier this year, which was a dynamic digital collectible series inspired by the Kenyan forest and designed to offset the annual carbon emissions generated by the Celo platform. In contrast, the Polysapiens series is an open-edition, generative art collection, meaning mints are unlimited and each collectible will be an entirely unique digital representation of marine life. “There is often a lot of mistrust when it comes to reporting and accounting for sustainability commitments, so we chose to leverage the Ecosapiens platform to help our community engage in sustainability efforts with new standards of accountability,” said Stefan Renton, Sustainability Lead at Polygon Labs. “Blockchain can help businesses across many different industries rebuild trust with their communities when it comes to sustainability initiatives. Our goal with the Polysapiens project is to showcase this while also being more transparent in how we’re working to reduce and account for our climate impact.” Visit https://ecosapiens.xyz/polysapien for more information and to learn more about how to mint the Polysapien collectible. About Ecosapiens Ecosapiens is a climate engagement platform powered by web3 that empowers individuals and brands to make a real world impact in a seamless and elegant way through carbon sequestering digital experiences and collectibles. The platform has minted over 100,000 climate collectibles, sequestered 4000+ tons of carbon and has the largest community of climate conscious individuals in web3 at 1M+.. Key Ecosapiens investors include Collab Currency, Boost Ventures, Slow Ventures, Menlo Ventures and Charles River Ventures. Follow Ecosapiens on Twitter and Instagram and join us on Discord. About Polygon Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 220.8 million, over 1.18 million smart contracts created and 2.48 billion total transactions processed since inception. The existing carbon negative Polygon network is home for some of the biggest web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure transactions for dApps you develop, get started here. Website | Twitter | Developer Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Facebook Contacts Niko Katsuyoshi [email protected]
 
Cookie3, an attribution and user analytics platform for Web3 marketers, has collaborated with Chainwire, the industry’s leading crypto PR distribution platform. Through the relationship, Chainwire’s customers will get improved user and attribution data for their campaigns, while Cookie3 clients will have access to Chainwire’s best-in-class PR capabilities. Web3 projects may choose the campaigns that provide the most performance by tracking the user journey from off-chain to on-chain thanks to Cookie3. Additionally, it makes it simple to create a customized campaign in under 60 seconds and use it to monitor important objectives like signing up for a whitelist, minting NFT, or buying a certain token. Projects are able to reward desirable results, achieve KPIs, and ascribe user behaviors as a consequence. In addition to supporting activities like page views and social media sharing, Cookie3 also integrates classic Web2 interactions. This enables projects to see user behavior holistically and determine how different users are engaging with their protocol. The code-free, completely automated solutions from Cookie3 provide 360° monitoring that takes into account every touchpoint along the user experience. Chainwire’s PR syndication and news delivery network is used by hundreds of Web3 businesses, including exchanges, gaming studios, and PR firms. By integrating Chainwire, Cookie3 will be able to monitor all significant marketing metrics in addition to offering its customers automatic PR distribution and connecting it to ongoing marketing initiatives. Businesses may improve user experience and establish better funnels for their marketing efforts by using Cookie3’s Web3 analytics services. This may result in a 20%+ increase in conversion rates and a 20% decrease in marketing expenses. Cookie3 may save teams hours in monthly analytics by precisely merging on- and off-chain events, allowing them to concentrate on their main business.
 
At the time of writing, XRP is trading at $0.5629, down 1.09% in the last 24 hours. If the price manages to go below the $0.55 mark then it will likely test the $0.54 support level. The XRP ecosystem has not seen any significant fundamental developments that might propel the token beyond its present impasse. It is clear that XRP is in a far deeper downturn than its rivals since its price has fallen by 14.19% in the last month. On January 10, a whale transferred $20.98 million worth of XRP from the MEXC exchange to a wallet, according to Whale Alert. This transfer took place as XRP’s price remained flat after falling from $0.63 on January 3. Despite the disappointing performance, whales seem to still believe in XRP’s long-term potential, as seen by the massive outbound transfer from MEXC to a non-exchange wallet. At the time of writing, XRP is trading at $0.5629, down 1.09% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 35.66%. Source: CoinMarketCap If the price manages to go below the $0.55 mark then the price will likely decline further to test the $0.54 support level. On the other hand, if the price manages to climb above $0.58 level, then it will likely test $0.59 resistance level. XRP ETF Highly Likely Spot Bitcoin ETF approval is being eagerly awaited by the crypto community. With the potential approval on the horizon, XRP likely stands to gain significantly. A spot exchange-traded fund (ETF) for cryptocurrencies like Ripple’s XRP has been circulating in the same circles as the possible approval of a Bitcoin ETF. Following the potential approval of an ETF for Bitcoin, Steven McClurg of Valkyrie said that ETFs tracking the values of Ripple (XRP) and Ethereum (ETH) may be filed. According to McClurg, XRP’s development and inclusion in Grayscale’s Digital Large Cap fund (GDLC) bode well for the prospect of an ETF.
 
Crypto analyst Ali Martinez has predicted an outstanding long-term price for Cardano (ADA), although subject to some downside before the target is reached. The Cardano (ADA) price is currently declining, down by 4.2% in the past 24 hours and 16.7% in a larger timeframe. The crypto did manage to turn bullish for a few hours yesterday, jumping 14.6% from a low of $0.4727 to $0.5421. Most of this price gain has been shed off and the crypto is now trading at $0.5079, confirming an ongoing consolidation. However, according to crypto analyst Ali Martinez, Cardano’s current consolidation mirrors that of its 2018-2020 phase, which is preparing the groundwork for a strong bull run. ADA Mirroring Its Past Performance Cryptocurrencies are known to repeat previous price actions, giving analysts an idea of what to expect based on the outcome of the previous performance. In this vein, a Cardano technical analysis shared on social media platform X by Ali Martinez indicated that ADA’s current consolidation is reminiscent of ADA’s price action whose breakout led to a 2,980% price surge. According to the weekly timeframe chart shared by Martinez, ADA consolidated for 665 days between 2018 to 2020 before going on a price surge to reach $3.058, its current all-time high. If a repeat of this pattern were to successfully play out, we might see ADA continue to consolidate around this level until April. Consequently, a repeat of a 2,980% price surge from the current price would put a price target around $15. Current State Of Cardano Cardano went through a price surge in the last quarter of 2023, mirroring a surge in July 2020. As a result, ADA recorded a 173% gain from $0.2435 in October to a yearly high of $0.6655 in December. However, the crypto has been on a decline since then. A recent larger decline among altcoins has also contributed to a further price decline. On-chain data from IntoTheBlock shows that 47.45% of ADA addresses are currently making a profit. Notably, an interpretation of Martinez’s technical analysis of Cardano points to this number stalling at least until April. For long-term believers in ADA, the current consolidation is an opportunity to increase their holdings for the next bull run. Cardano still remains one of the most actively developed blockchain ecosystems, and a new report shows that development activity has outpaced that of Ethereum and Avalanche in the past 30 days. A continuation of this growth coupled with a few other bullish market factors like the potential approval of Spot Bitcoin ETFs in the US could lead to ADA going on a sustained price surge before April.
 
Achieved New Record & Key Milestone with over $100 billion of AUM Finished 2023 with over $10 billion of net inflows and posting a ~13% pace of organic growth NEW YORK–(BUSINESS WIRE)–WisdomTree, Inc. (NYSE: WT), a global financial innovator, today released monthly metrics for December 2023, including assets under management (AUM) and flow data by asset class. Monthly Commentary: $765 million of net outflows in December driven primarily by a risk-on re-allocation out of the U.S. Floating Rate Treasury Fund and profit taking in commodity products Organic revenue growth in Q4 2023 notwithstanding net outflows of $254 million during the quarter, as inflows into higher fee products offset outflows from lower fee products Achieved milestone AUM of over $100 billion, over $10 billion of year-to-date net inflows and WisdomTree’s ~13% pace of 2023 net inflows is best-in-class relative to our publicly traded asset manager peers WisdomTree Prime expanded its product lineup with the introduction of three digital asset allocation funds that leverage insights from Professor Jeremy Siegel As of December 31, 2023 AUM Rollforward ($ in millions) Annualized Flow Rate MTD QTD YTD MTD QTD YTD Beginning of Period Total AUM $98,156 $93,735 $81,986 Total Net Flows U.S. Equity $269 $487 $1,616 11.6% 7.5% 6.7% International Dev. Mkt Equity $16 $9 $2,851 1.3% 0.3% 28.0% Emerging Market Equity $268 $412 $1,679 31.6% 17.1% 20.7% Fixed Income ($771) ($715) $5,940 (41.4%) (13.0%) 38.9% Commodity & Currency ($552) ($449) ($1,774) (29.8%) (8.7%) (8.0%) Alternatives $29 $32 $40 102.4% 37.6% 12.8% Cryptocurrency $10 $28 $50 33.3% 45.4% 37.0% Leveraged & Inverse ($33) ($59) ($4) (20.9%) (13.1%) (0.2%) Total Net Flows ($765) ($254) $10,396 (9.2%) (1.1%) 12.7% Market Move $2,733 $6,644 $7,742 Current Total AUM $100,125 $100,125 $100,125 Average Total AUM $98,875 $96,557 $92,895 Blended Total Average Fee Rate 36 bps 36 bps Source: https://ir.wisdomtree.com/ Please visit https://ir.wisdomtree.com/ for downloadable spreadsheets containing detailed AUM and flow data by asset class and fund broken out by daily, monthly, quarterly and annual timeframes. About WisdomTree WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models, solutions and products leveraging blockchain-enabled technology. We empower investors and consumers to shape their future and support financial professionals to better serve their clients and grow their businesses. WisdomTree is leveraging the latest financial infrastructure to create products that provide access, transparency and an enhanced user experience. Building on our heritage of innovation, we are also developing and have launched next-generation digital products, services and structures, including digital or blockchain-enabled mutual funds and tokenized assets, as well as our blockchain-native digital wallet, WisdomTree Prime.* *The WisdomTree Prime digital wallet and digital asset services are made available through WisdomTree Digital Movement, Inc. (NMLS ID: 2372500) in select U.S. jurisdictions and may be limited where prohibited by law. Visit https://www.wisdomtreeprime.com or the WisdomTree Prime mobile app for more information. WisdomTree currently has approximately $99.5 billion in assets under management globally. For more information about WisdomTree and WisdomTree Prime, visit: https://www.wisdomtree.com. Please visit us on X, formerly known as Twitter, at @WisdomTreeNews. WisdomTree® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide. PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE PRIME: NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT | MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED BY ANY GOVERNMENT AGENCY The products and services available through the WisdomTree Prime app are not endorsed, indemnified or guaranteed by any regulatory agency. Cautionary Statement Regarding Forward-Looking Statements This press release may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our ability to achieve our financial and business plans, goals and objectives and drive stockholder value, including with respect to our ability to successfully implement our strategy relating to WisdomTree Prime, our ability to continue to make achievements in AUM, levels of net inflows and other risk factors discussed from time to time in WisdomTree’s filings with the Securities and Exchange Commission (“SEC”), including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on February 28, 2023, and in subsequent reports filed with or furnished to the SEC. These forward-looking statements are based on WisdomTree’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside WisdomTree’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements included in this release speak only as of the date of this release. WisdomTree does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws. Category: Business Update Contacts Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735 [email protected] / [email protected] Investor Relations WisdomTree, Inc. Jeremy Campbell +1.646.522.2602 [email protected]
 
Senators J.D. Vance and Thom Tillis sent a letter to SEC Chair Gary Gensler. The hacker tweeted a statement implying that spot Bitcoin ETFs had been authorized. After the hack of the SEC’s Twitter account on January 9, two U.S senators have demanded that the agency disclose the incident to Congress. On the same day, Senators J.D. Vance and Thom Tillis sent a letter to SEC Chair Gary Gensler, expressing their “serious concerns” about the commission’s internal cybersecurity processes in light of the event. Given the latest hack’s impact on “widespread confusion,” the two senators have asked the SEC to disclose the event to Congress. They are bringing up the recently concluded rules on cybersecurity disclosures as an example. A deadline of January 23 was imposed in the letter that was issued on January 9. Report Demanded from SEC Also included in the letter was a reminder to the SEC of the need that all companies reveal the full extent of any cybersecurity issue’s effects on the company no later than four days after the incident occurred. The letter further mentioned: On January 9th, the event took place when the SEC’s twitter account tweeted a bogus statement implying that spot Bitcoin ETFs had been authorized in the U.S. The crypto community’s elation, however, was short-lived when Gensler disclosed that an unauthorized tweet had been sent out from the SEC’s twitter account, which was claimed to be hacked. Quickly SEC Chair Gary Gensler revealed that spot bitcoin ETFs had not received authorization to list or trade. In only a few short hours, almost $140 million was liquidated. The sharp drop in Bitcoin’s value was expected. The price of Bitcoin soared from $46,700 to $48,000 initially, then it crashed to the $45,300 zone in the span of minutes. Highlighted Crypto News Today: Bybit’s CryptoArk Keynote Highlights Ambitious Plans and Achievements
 
Taisu Ventures is helping to build the blockchain ecosystem by co-hosting a web3 track in the 36-hour hackathon together with TreeHacks at Stanford. Taisu Ventures is a chain-agnostic web3 Venture Capital fund set to co-host one of the most prominent hackathons globally, teaming up with TreeHacks at Stanford for an extraordinary event taking place from February 16th to 18th, at the esteemed Stanford University Campus. As the driving force behind the web3 track, Taisu Ventures aims to inspire hackers to transcend boundaries, delving into verticals such as DeFi, gaming, and user platforms throughout the 36-hour hacking weekend. Participants can anticipate a weekend with high-intensity, featuring engaging workshops, enlightening panel discussions, and culminating in the presentation of coveted golden prizes to the most outstanding hacks. Taisu Ventures: an early-stage web3 investor, investing globally in infrastructure, DeFi, gaming, and user platforms. Taisu Ventures is a Venture Capital firm that supports entrepreneurs dedicated to building the future with blockchain technologies. Taisu Ventures invests mainly in the early-stage startups chain-agnostically. With a team of experts with profound knowledge and experience in business development, engineering, and finance in web3, the team is committed to helping their portfolio companies grow and scale by providing access to expertise across all stages of the business while building the blockchain ecosystem globally. Taisu Ventures is on a mission to bridge all the blockchain ecosystems across the globe by connecting entrepreneurs, engineers, investors, and industry leaders with their network in Asia, the US, Europe, Africa, and the Middle East. Taisu Ventures is sponsoring the Unchained Business Forum with UCLA Anderson on the 2nd of February in Los Angeles and co-hosting Web3/AI Summit with TEAMZ in Tokyo on April 13-14. Reach out to our team if you are in the area, and would like to join us. Treehacks TreeHacks, Stanford University’s flagship student-led hackathon, is gearing up for its 10th anniversary edition, poised to be the largest iteration to date. Drawing in over 1500 of the brightest engineering students from around the world, this milestone event empowers participants to envision a better world and bring their ideas to life within the compressed time frame of 36 hours. Last year’s edition boasted impressive statistics, with 1200 hackers, a notable 110 mentors, a staggering 300 final projects submitted, and an average of 45 projects vying for each company prize. The event distributed a remarkable $165,000 in prizes, underlining its significance in the hackathon landscape. This year, TreeHacks received over 10,000 applications, so the standards will be high. Do you want to become a mentor or judge? Attendance can only be confirmed through the Application form. Follow Taisu Ventures and upcoming events on X @Taisu_Ventures Find out more on Taisu.io TreeHacks Official website TreeHacks.com Contact [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
 
The Bitcoin market was swept into a frenzy following an alleged hack of the US Securities and Exchange Commission’s (SEC) X account, falsely claiming the approval of 11 spot ETFs. This misinformation led to a rollercoaster in Bitcoin’s price, which initially soared from $46,800 to $48,000, only to crash to $45,000 within a span of 20 minutes. This incident has become a pivotal moment for market analysts, providing insights into how the market might react to today’s potential Bitcoin spot ETF approvals in the short term. So here’s what experts from K33 Research, QCP Capital, and Daan Crypto Trades have to say. #1 K33 Research: Approval Will Be ‘Sell-The-News” Event Vetle Lunde, a senior analyst at K33 Research, provided an in-depth analysis of the market’s reaction to the erroneous announcement. He observed that the market’s immediate response was indicative of a tendency towards a ‘sell-the-news’ reaction. The initial surge in Bitcoin’s price was quickly met with a flood of long positions, causing a significant price fluctuation. “The market showed its hands yesterday; the ETF approval rehearsal favors a sell-the-news reaction. Immediately after the announcement, longs quickly crowded the market, enforcing a whipsaw in the following minutes,” Lunde stated. Lunde also pointed out that until the SEC’s clarification, the market largely accepted the announcement at face value, triggering an organic reaction. He outlined the sequence of events, noting a 2.4% increase in Bitcoin’s price within four minutes post-announcement, followed by a 1.4% decrease in 14 minutes until Bloomberg debunked the approval news. The market eventually stabilized when Gensler confirmed the hack, highlighting the market’s sensitivity to regulatory news and rumors. #2 QCP Capital: Warning Sign For Bitcoin Traders QCP Capital, in their “QCP Market Update – 10 Jan 24,” reflected on the bizarre nature of the event with a mix of humor and analysis. “We are on the cusp of a BTC Spot ETF approval, and what transpired in the last 24 hours is something you can’t make up,” their update began. They pointed out the lukewarm initial reaction to the ‘approval,’ suggesting that the market might have already priced in the possibility of an actual ETF approval. “The initial reaction to the ‘approval’ was muted with BTC being unable to trade out of the resistance area. We take this as a warning sign that an approval is mostly priced in and there may not be a huge rally post the approval,” QCP warned. QCP Capital also focused on the implications of this event for future market trends. “The restrained response to the faux approval signals a warning – the actual approval of a Bitcoin ETF might not trigger the expected rally,” they observed, also pointing to the current market dynamics, such as the elevated options volatility and spot-futures basis spread. Notably, the firm sees Bitcoin’s next support at $40,000 to $42,000, and resistance around 48.500. Daan Crypto Trades: ETH/BTC Could See A Spike Daan Crypto Trades provided a concise but insightful analysis. “The false ETF approval news was a litmus test for the market’s post-approval direction,” he commented. The analysis highlights the pattern of Bitcoin’s price spiking and then fully retracing following the fake announcement. “This pattern could well repeat upon actual ETF approval, but with more pronounced selling pressure,” he suggested. Daan Crypto Trades also touched on the broader market implications, especially for the ETH/BTC ratio, which started rallying immediately after the fake announcement. He further remarked: At press time, BTC traded at $45,346.
 
Current Bitcoin Mining Operations Annual Run Rate of Approximately $83 Million LAS VEGAS–(BUSINESS WIRE)–$AGREE #151_Bitcoin_Mined_December_2023—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced that the Company has decided that it will start holding up to 20 percent and minimum of five percent of the Bitcoin it mines on the Company’s balance sheet. This strategic move is part of the Company’s broader plan to adjust its asset management approach to ultimately create a more valuable enterprise and drive stockholder value. Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, commented on this development, saying, “Our confidence in Bitcoin as a sustainable asset class is consistent with the insights from Michael Saylor, Executive Chairman of MicroStrategy, documented in their white papers on the topic. We are aligning our approach to capitalize on this digital asset’s short term and long-term potential.” Ault Alliance, through its wholly owned subsidiary, Sentinum, Inc. (“Sentinum”), has made significant strides in Bitcoin mining, with December 2023 marking the highest single monthly run rate for Bitcoin miners in the Company’s history, as Sentinum mined approximately 151 Bitcoin during the month. Around 77 Bitcoin were mined at Sentinum’s data center in Michigan, while approximately 74 Bitcoin came from mining machines hosted with Core Scientific, Inc. This monthly run rate amounted to about $6.9 million, setting an annual run rate for current Bitcoin mining operations at approximately $83.3 million, based on a Bitcoin price of around $46,000. Kenneth S. Cragun, Chief Financial Officer of Ault Alliance, remarked, “The new accounting guidance will require companies to measure Bitcoin at fair value on their balance sheets with changes recorded in net income each reporting period. Our financial team is well-equipped to manage the new accounting and disclosure requirements related to holding Bitcoin on our balance sheet, ensuring compliance and optimal asset utilization.” This decision underscores Ault Alliance’s commitment to staying abreast of the digital economy’s evolution by strategically adjusting its overall asset management strategy. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including a metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.Ault.com. Contacts Ault Alliance Investor Contact: [email protected] or 1-888-753-2235
 
The twitter account of the U.S SEC was compromised by hackers, claiming all ETFs approval. The result was a liquidation of more than $140 million within a few hours. The crypto community is eagerly waiting for the SEC to announce its verdict on the spot Bitcoin ETF. Today, January 10, is the last day for the SEC to decide whether to accept or reject the ARK 21Shares Bitcoin ETF (ARKB). According to industry experts, the 11 spot Bitcoin ETFs’ prospectuses will likely be approved simultaneously. The twitter account of the U.S SEC was compromised by hackers, who then made false postings claiming that all Bitcoin ETFs had been approved. Spot bitcoin exchange-traded products have not been authorized for listing or trading, as quickly announced by SEC Chair Gary Gensler. The result was a liquidation of more than $140 million within a few hours. The precipitous decline in the value of the cryptocurrency was predictable. With millions of dollars in liquidations, Bitcoin’s price climbed from $46,700 to $48,000 before crashing to $45,300 zone in a matter of minutes. Curiously, ETH remained strong, rising over $2,400 after a 5% daily gain, while other altcoins are trading in red. High Volatility Expected In the last 13 weeks, the price of Bitcoin has increased from $27,000 to $47,000, a 70% increase. Along with retail traders cashing in on gains at times of extreme volatility, there may be selling pressure from Bitcoin miners who are transferring their holdings to centralized exchanges. Source: CoinMarketCap At the time of writing, Bitcoin is trading at $45,646, down 1.89% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 5.26%. If the price manages to go below $45,410 then the price will likely decline further to test $43,330 support level. However, if the price manages to go above $46,210 then it will likely test $46,980 resistance level.
 
Victoria, Seychelles, January 10th, 2024, Chainwire Bitget, the world’s leading cryptocurrency exchange and Web3 company, has launched its most recent monthly Proof of Reserves (PoR) report, demonstrating its industry-leading commitment to transparency with a robust total reserve ratio of 175%. This regularly-released PoR disclosure underscores Bitget’s unwavering pledge to maintain 100% backing for user funds at all times through substantial on-hand reserves. The January 2023 PoR data highlights Bitget’s unrelenting focus on prudent financial management and stability. With these strong reserve numbers, Bitget confirms its steadfast dedication to safeguarding user assets through unparalleled visibility into its balance sheet. According to Coinmarketcap’s data on January 8th, Bitget’s total reserves surpassed $1.8 billion consisting of major cryptocurrencies such as BTC, ETH, USDT, and USDC, among others. This routine audit provides clear visibility into Bitget’s ongoing commitment to openness and accountability. Bitget’s dedication to transparency aligns with its focus on maximizing user protection. In addition to its robust reserves, Bitget has established a Protection Fund and publishes monthly valuations to further safeguard users from unforeseen threats. About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet Contact Rachel Cheung [email protected]
 
Ethereum-based memecoin Shiba Inu (SHIB) has once again garnered the attention of the crypto community as the altcoin has witnessed a massive whale accumulation leaving the community to ponder on the reason behind the whale accumulation. Shiba Inu Whale Amassed 1.44 Trillion SHIB Recent data from crypto analytics firm Lookonchain has revealed that new buyers are stacking Shiba Inu on Binance and Gate.io. The analytics platform shared the data on the social media platform X (formerly Twitter). As of the time of the report, over 1.44 trillion SHIB, valued at about $13.36 million, had left exchanges in less than 48 hours. With split purchases over a period of time, the accumulation was a clear move. Lookonchain revealed that the unknown whale addresses 0xF633Cd….3493Bbac began the accumulation on the Binance platform. The whale reportedly moved 400 billion SHIB tokens from the platform to the wallet address. Additionally, the whale received another 146,342,102,182.77 SHIB around an hour later. This brings down the total amount of SHIB withdrawn from Binance to 546,342,102,182.77, valued at approximately $5.18 million. Furthermore, the analytics firm reported another massive Shiba Inu withdrawal from the crypto exchange Gate.io. Lookonchain shows that the whale started the accumulation from Gate.io with an initial batch of 32,913,563,627.61 SHIB tokens. Meanwhile, the next whale accumulation which was the largest consists of 499,999,665,444.45 SHIB. The whale then completed the move with an additional 362,134,360,200.61 SHIB buy. This brought the total amount of SHIB amassed to a whopping 895,047,589,272.67 valued at about $8.5 million. According to Lookonchain, the aforementioned wallet address 0xF633Cd….3493Bbac is responsible for the tokens withdrawn from both crypto platforms. These transactions came at a time when the Shiba Inu was experiencing a price rebound. However, there is no solid proof that these transactions have affected the price of SHIB positively. A Significant Drop In Shibarium Transaction Counts The Shiba Inu layer 2 blockchain platform Shibarium has experienced a significant drop in its transaction counts. The drop in transactions might suggest a broader change in users’s confidence and engagement. According to data from Shibariumscan, the network’s daily transactions are currently pegged at 2.73 million. This is the lowest the network has seen in months now. The network has been seeing a notable decrease in transaction counts since the close of the previous year. The drop in daily transaction counts indicates a decline in the network’s adoption. Data from Shibarium Explorer shows that the network’s utilization is down up by 11%. However, this is a drop from the 30% network utilization it recorded on Monday, January 8. As of the time of writing, SHIB was trading at $0.000009522, indicating an increase of 1.20% in the past 24 hours. Meanwhile, its 24-hour trading volume is currently seeing an uptick of 64%, according to CoinMarketCap.
 
On Tuesday, the crypto market was taken by storm when a tweet emerged from the official X (formerly Twitter) account of the United States Securities and Exchange Commission (SEC) saying all Spot Bitcoin ETF applications had been approved. This had been initially followed by a surge in price but this was short-lived as the price would crash shortly after. The reason for this was because Gary Gensler, chairman of the Commission, revealed that the tweet was fake and the regulator’s social media account had been compromised. SEC Hack Triggers $220 Million In Liquidations In the wake of the wild Bitcoin price fluctuations that were triggered by the SEC’s hack, a large number of crypto traders found themselves with massive losses on their hands. According to data from CoinGlass, over $220 million have been liquidated in the last 24 hours, leading to the second-largest liquidation event so far in 2024. The website also notes that over 70,000 traders were victims of this liquidation event as well. Also, given that the price of Bitcoin and other assets in the crypto market had seen price fluctuations in both directions, both long and short traders were affected. However, given that the crash to the downside has persisted for longer, long traders have come out as the group with the most liquidations during this time. Out of the more than $220 million in liquidations recorded, long trades made up 60.47% with $133.5 million, while the volume of short liquidations came out to $87.29 million for the same time period. Bitcoin saw the largest single liquidation order during this time as well which took place on the ByBit exchange. A single trade worth $6 million was liquidated across the BTCUSD trading pair, with total liquidations on the crypto exchange coming out to $36.66 million. This falls behind market leader Binance with $83.88 million and OKX with $73.97 million. Spot Bitcoin ETF Is A Sell The News Event? The debate of whether the Spot Bitcoin ETF approval has already been priced in and if an announcement will lead to a decline in price has been waxing stronger over the last few weeks. Experts have chimed in to give their thoughts on what will follow an approval. Crypto analyst Andrew Kang believes that approval would lead to a scramble among applicants to grab as much as possible from the $10 billion to $20 billion expected to come from fees. As such, they will all be at the forefront of marketing to push their ETFs. On the flip side, renowned economist, Peter Schiff, believes that a spot ETF would actually not be good for the asset. Apparently, the advent of a spot Bitcoin ETF would mean that there is no longer any good news to trigger a price rally. As such, it would turn into a ‘sell the news’ event. However, if the performance from Tuesday is anything to go by, it could mean that the ETF is already priced in given that there was a decline in price, even before the SEC dismissed the tweet from the hacked account.
 
Ben Zhou, the CEO and co-founder of Bybit, outlined the future of the cryptocurrency business in his keynote speech after the exchange increased its spot market share by eight times in 2023. Bybit’s noteworthy achievements and future goals were highlighted during the CryptoArk Keynote, demonstrating the company’s steadfast dedication to growing the digital asset market. Ben discussed the accomplishments of Bybit, which include growing to over 20 million users, introducing 93 new products, facilitating 96 chains for deposits and withdrawals, and becoming the third-biggest derivatives exchange. Bybit’s growth into the UAE, South Africa, and the Netherlands further demonstrated its dedication to compliance and solidified its standing as a reliable, international cryptocurrency platform. The company’s emphasis on improving platform stability and user experience was emphasized throughout the talk. Despite market volatility, the business tripled its transaction volume capacity and maintained a 99% uptime rate. Additionally, Ben revealed its audacious plan to process one million transactions per second by 2024. Upgrades such as the Unified Trading Account, which now includes Perp Protect and customisable collateral assets, demonstrated Bybit’s commitment to provide a stable and intuitive trading environment. Bybit showed impressive development in the institutional services space, with an 182% rise in institutional collaborations. Through the incorporation of spot trading into portfolio margin, Bybit has increased the capital efficiency of trading methods for its customers. The business also demonstrated its expertise in cutting-edge trading solutions with the launch of new structured and wealth management products, copy trading, and AI-powered trading tools. Ben stated: Bybit reaffirmed its commitment to leading the cryptocurrency sector and emerging as the global Crypto Ark at its Crypto Ark Keynote. Bybit anticipates that 2024 will provide even more innovative developments and inclusive experiences that will further establish Bybit’s standing as a major force in the future of the cryptocurrency space. Visit this link to see the Keynote.
 
In a market dominated by red arrows, one Solana-based meme coin is swimming against the tide. BONK, the self-proclaimed “first Solana dog coin,” has soared a staggering 15% in the past 24 hours, emerging as a beacon of green amidst a sea of plummeting peers. While Dogecoin and Shiba Inu wallow in double-digit losses, BONK has bucked the downtrend, leaving investors wondering if this canine crusader has the bite to back its bark. But BONK’s bullish gallop isn’t an isolated thing. This week has seen the meme coin rise 10%, propelling its value to $0.00001363 – a testament to its impressive medium-term momentum. Positive Forecast For BONK Analysts predict this positive trajectory to continue, especially if tomorrow’s highly anticipated decision by the US Securities and Exchange Commission (SEC) on Bitcoin ETFs paves the way for a broader market bull run. In such a scenario, BONK’s potential for disproportionate gains, even eclipsing Shiba Inu’s, is a tantalizing prospect for risk-tolerant investors. Fueling BONK’s ascent is a potent cocktail of positive factors. Its social engagement has nearly doubled, sparking a buzz that translates into tangible market momentum. Trading volumes have skyrocketed 130%, reaching a staggering $285 million in the past day – more than twice that of Shiba Inu, showcasing the surging interest from retail investors. This surge in activity has catapulted BONK’s market cap past $800 million, cementing its place as the 81st largest digital asset, a remarkable feat for a relatively young project. Further driving BONK’s appeal is its upcoming listing on OKX, a leading global cryptocurrency exchange. This strategic move promises to broaden BONK’s reach and expose it to a wider audience, particularly within the Solana ecosystem. The potential surge in investor interest this listing could trigger could be a significant catalyst for future price appreciation. BONK Technical Overview Technical indicators add to the optimistic picture. BONK currently dances above both the 10-day and 200-day Simple Moving Averages (SMAs), signaling robust buying pressure. The 20-day Exponential Moving Average (EMA) sits comfortably above the 50-day EMA, reinforcing the upward trend. And for good measure, the Chaikin Money Flow index flashes a bullish $0.20, painting a picture of healthy and sustained buying interest. However, as with any cryptocurrency, caution is paramount. Meme coins are notorious for their volatility, and BONK’s recent gains are no guarantee of future glory. Regulatory uncertainties surrounding the SEC’s decision further cloud the outlook. Additionally, BONK’s fortunes remain tied to the overall health of the cryptocurrency market. Despite these caveats, BONK’s performance stands out like a sore thumb in the current market landscape. Its technical indicators, combined with its growing social buzz and strategic moves like the OKX listing, present a compelling case for the meme coin’s continued ascent. Whether BONK dethrones Shiba Inu to become the king of meme coins remains to be seen, but one thing’s for sure – this Solana underdog is barking loud enough to turn heads in the crypto arena. Featured image from Freepik
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