Global Blockchain Show Dubai is gearing up to welcome more than 7000 attendees, 300 speakers, 120 sponsors, and 3000 firms who will unite from different regions of the world to network, learn, experience leadership sessions, and showcase their projects and products with a common goal of promoting blockchain and web3 industry. Among the attendees and speakers, the Global Blockchain Show Dubai will have C-level executives, managers, consultants, corporates, investors, and even governments who will stand to gain valuable insights from this blockchain event and participate in networking opportunities to build collaborations and partnerships. VAP Group has been leading the AI and Blockchain consulting domain for more than a decade now and is committed to promoting blockchain innovation among young entrepreneurs and crypto enthusiasts. The organization has strategically chosen Dubai for the #GlobalBlockchainShow2024 as the city boasts a futuristic and innovative atmosphere with government support for the decentralized economy and a global blockchain hub that provides access to professionals and experts in this field. Attendees will have the opportunity to hear from an esteemed lineup of industry leaders. Lennix Lai, the Chief Commercial Officer of OKX, brings over 15 years of crypto and financial expertise, leading OKX’s evolution into a DeFi and NFT powerhouse. Alexandre Dreyfus, CEO of CHILIZ & SOCIOS.COM, boasts a rich digital entrepreneurial journey, pioneering blockchain-based fan engagement for major sports entities. Dominic Williams, the brain behind the Internet Computer Project, will delve into the future of blockchain tech. Additionally, speakers like Alex Fazel of SwissBorg, David Palmer from Vodafone, Maria Vovchok of Dubai Blockchain Center, and Alex Belov of Coinstelegram will offer their insights on the transformative potential of blockchain across various sectors. Vishal Parmar, the CEO of VAP Group, says “At the Global Blockchain Show in Dubai, we’re shaping the future of Blockchain and Web3. Beyond gathering diverse insights, we’re uniting to drive industry transformation and shape tomorrow’s possibilities.” There will be engaging networking opportunities and panel discussions on Blockchain advancements and production cases. Among other Blockchain events, the Global Blockchain Show wins the race with its unique networking opportunities. While most events keep this session for the end of the show, the Global Blockchain Show will have networking sessions throughout the event starting from day one. Global Blockchain Show Dubai is all set to be a powerhouse to craft engaging digital experiences and captivate global audiences where young entrepreneurs and investors can become trendsetters in their journey through the billion-dollar blockchain and crypto industry, which has recently become popular on exponential levels. The event will also hold an exclusive after-party on the hottest beachfront of White Beach, Dubai, which features ultra-luxurious cabanas, restaurants, and infinity pools. Even during the after-party, attendees can build collaborations and partnerships with blockchain professionals and organizations to catapult development, drive growth, and create employment opportunities. Global Blockchain Show Dubai is getting ready to be a powerhouse, craft engaging digital experiences, and captivate global audiences where young entrepreneurs and investors can become trendsetters in their journey through the billion-dollar blockchain and crypto industry, which has recently become popular on exponential levels. As we move into 2024, our Blockchain and Web3 enthusiasts at VAP Group will be embracing the immense potential of the technology and helping bridge the gap between the centralized and decentralized worlds by hosting the largest #GlobalBlockchainShow2024. About Global Blockchain Show VAP Group is delighted to introduce the Global Blockchain Show, an extraordinary platform poised to redefine the landscape of blockchain technology. This eagerly anticipated event brings together visionaries, industry leaders, and pioneers from across the globe for an unparalleled exploration of blockchain’s transformative power. Join Global Blockchain Show for a dynamic gathering on 16 th -17 th April 2024, at Grand Hyatt, Dubai where the brightest minds converge to unlock the potential of blockchain technology. From thought-provoking keynote speeches to interactive panel discussions and hands-on workshops, the Global Blockchain Show curated by VAP Group promises to delve into the cutting-edge applications and disruptive potential of blockchain across diverse industries. This is more than a conference; it’s a catalyst for the evolution of decentralized solutions, digital economies, and innovative paradigms. Embrace the opportunity to be at the forefront of this revolution and engage with the latest trends and advancements shaping the future of blockchain technology. Secure your place today and become part of a global movement shaping the future of blockchain innovation. To book tickets: https://www.globalblockchainshow.com/tickets/ For media inquiries, exclusive interviews, or press passes, please reach out to: Nupur Aswani Director – Media & PR, VAP Group 7874711416 [email protected]

AVAX, native token of the Avalanche network, made a resounding entrance into the cryptocurrency markets at the onset of the year, establishing itself as a prominent player and outpacing many other altcoins. The initial enthusiasm surrounding AVAX, however, underwent a notable transformation as the narrative took an unexpected turn. Presently, the token finds itself perched at $36.65, reflecting a marked shift from its earlier bullish trajectory. Over the last seven days, AVAX has encountered a challenging period, sustaining a 15% loss. AVAX Downturn Sparks Concerns, Social Silence The reasons behind this recent downturn could be multifaceted, ranging from market sentiment shifts to external factors influencing broader cryptocurrency trends. Investors and market analysts are closely monitoring the situation to discern the underlying dynamics at play and determine whether this is a temporary correction or indicative of a more sustained trend. Furthermore, a curious case emerges – the dwindling social volume. Despite AVAX’s resilience, online chatter surrounding the platform has taken a nosedive, raising questions about the sustainability of the coin. The diminishing social volume might suggest a divergence between market performance and investor sentiment, prompting a closer examination of factors influencing both the cryptocurrency’s value and the perception within the community. Positively, though, the market capitalization of Avalanche has risen by more than 5% in the past few days, indicating a greater influx of investors. Not too long after Grayscale’s Digital Large Cap Fund adopted the layer-1 blockchain, Avalanche saw a robust comeback. With billions of cryptocurrency assets under its management, Grayscale is one of the biggest digital asset managers. The inclusion of AVAX in Grayscale’s fund indicates that institutions will still be interested in Avalanche until 2024 and beyond. Meanwhile, Avalanche’s circulating supply shrank significantly in the latter half of 2023, fueled by a surge in activity surrounding “inscriptions.” Avalanche Surges: Record Token Burns Celebrated These data-on-chain creations generate transaction fees, which are then permanently removed from circulation through the network’s burn mechanism. December alone saw a record 195,000 token burn, a testament to the growing popularity of inscriptions on Avalanche. Experts attribute this trend to several factors. Inscription-based transactions, initially popular on Bitcoin, are finding new life on Avalanche due to their creative potential and contribution to the burn mechanism. This creates a positive feedback loop, attracting users and further reducing the circulating supply. Additionally, the rise of inscription activity suggests a growing and engaged Avalanche community, which bodes well for the network’s long-term health. However, the implications of this trend are nuanced. While token scarcity could lead to increased AVAX value over time, similar to Bitcoin, it also raises concerns about rising transaction fees and potential centralization if large inscription projects control a significant portion of the fee pool. Featured image from Shutterstock

Cardano (ADA) is attempting a recovery wave from the $0.4650 zone. ADA could start a fresh rally if there is a close above the $0.550 resistance. ADA price is moving higher from the $0.4650 zone. The price is trading below $0.570 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.545 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could accelerate higher if there is a clear move above $0.545 and $0.550. Cardano Price Attempts Fresh Increase After a strong rally, Cardano faced sellers near the $0.675 zone. ADA started a fresh decline below the $0.620 and $0.600 support levels, unlike Bitcoin and Ethereum. There was a drop below the $0.550 support and the 100 simple moving average (4 hours). Finally, the price found support near the $0.4650 zone. The price is now attempting a fresh increase above the $0.500 resistance zone. The price tested the 23.3% Fib retracement level of the downward move from the $0.6768 swing high to the $0.4650 low. ADA is now trading below $0.570 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.545 on the 4-hour chart of the ADA/USD pair. On the upside, immediate resistance is near the $0.532 zone. The first resistance is near $0.545 and $0.550. The next key resistance might be $0.570 or the 50% Fib retracement level of the downward move from the $0.6768 swing high to the $0.4650 low. Source: ADAUSD on TradingView.com If there is a close above the $0.570 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.620 region. Any more gains might call for a move toward $0.650. Another Decline in ADA? If Cardano’s price fails to climb above the $0.545 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.500 level. The next major support is near the $0.465 level. A downside break below the $0.465 level could open the doors for a test of $0.432. The next major support is near the $0.420 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.500, $0.465, and $0.432. Major Resistance Levels – $0.532, $0.545, and $0.570.

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 it is removing certain proposals previously intended to be voted upon at its Annual Meeting of Stockholders (the “Meeting”). On December 29, 2023, the Company announced that it had adjourned the Meeting from December 29, 2023 to January 12, 2024 due to the absence of quorum to conduct business. Based on the absence of quorum to date, and the strong indications that quorum will be difficult to obtain by January 12, 2024 despite having engaged a solicitation agent, the Company’s board of directors (the “Board”) elected to amend the Company’s Amended and Restated Bylaws (the “Bylaws”) to reduce the percentage required to obtain quorum from a majority of the voting power of the issued and outstanding capital stock of the Company to thirty-five percent (35%) of such voting power, effective at the close of business Eastern Time on Thursday, January 11, 2024. The Board also determined to remove from consideration the following three proposals in the Proxy Statement dated December 1, 2023 (the “Proxy Statement”) at the Meeting: To approve, pursuant to Rule 713(a) and (b) of the NYSE American, the conversion of the Company’s 10% Senior Secured Convertible Note in the principal amount of $17,519,832.00 into the Company’s Class A common stock, par value $0.001 per share (the “Common Stock”) as well as the exercise of the warrants to purchase such shares of Common Stock, each as issued pursuant to the Note Purchase Agreement dated October 13, 2023; To approve, pursuant to Rule 713(a) and (b) of the NYSE American, the conversion of the Company’s 50,000 shares of Series C convertible preferred stock into Common Stock, and warrants to purchase shares of Common Stock, for a total purchase price of up to $50,000,000.00, pursuant to the Securities Purchase Agreement dated November 6, 2023; and To approve, pursuant to Rule 713(a) of the NYSE American, (i) the issuance by the Company of additional shares of Common Stock, in a registered direct offering, underlying the Company’s Convertible Note in the principal amount of $2.2 million issued pursuant to the Exchange Agreement dated September 27, 2023, as well as (ii) the right granted to the counterparty in the Exchange Agreement to purchase a note substantially identical to the Convertible Note in an amount of up to $3,300,000. Consequently, the Meeting will be held for the following purposes: To elect the seven (7) director nominees named in the Proxy Statement to hold office until the next annual meeting of stockholders; To ratify the appointment of Marcum LLP, as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2023; To approve an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of the Common Stock by a ratio of not less than one-for-five and not more than one-for-twenty-five at any time prior to December 28, 2024, with the exact ratio to be set at a whole number within this range as determined by the Board in its sole discretion; and To approve the adjournment of the Meeting to a later date or time, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Meeting, there are not sufficient votes to approve any of the other proposals before the Meeting. To access the virtual meeting please click the Virtual Shareholder Meeting link: meetnow.global/MXV24TS. To login to the virtual meeting you have two options: Join as a “Guest” or Join as a “Stockholder.” If you join as a “Stockholder” you will be required to have a control number. Further information regarding the change to the Proposals can be found in the Supplement to Proxy Statement filed by the Company with the Securities and Exchange Commission on January 9, 2024. If you have already voted your shares any of the proposals contained in Proxy Statement, you do not need to vote again and we thank you for your support. If you did not vote at all with respect to any such proposal, we urge you to vote your shares in favor of all the remaining proposals. You may use the Proxy Card with which you were originally provided. 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. Additional Information and Where to Find It The Company has filed a definitive proxy statement on Schedule 14A and associated proxy card (the “Proxy Statement”) with the U.S. Securities and Exchange Commission (the “SEC”), which was filed on November 24, 2023 and supplemented on December 29, 2023. The Company, its directors, its executive officers and certain other individuals set forth in the definitive proxy statement will be deemed participants in the solicitation of proxies from stockholders in respect of the Annual Meeting, subject to the changes referred to above. Information regarding the names of the Company’s directors and executive officers and certain other individuals and their respective interests in the Company by security holdings or otherwise is set forth in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE PROXY STATEMENT. The Proxy Statement and a form of proxy have been mailed to stockholders of the Company. Investors and stockholders can obtain a copy of the documents filed by the Company with the SEC, including the Proxy Statement, free of charge by visiting the SEC’s website, www.sec.gov. 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

Ethereum price climbed higher above the $2,350 resistance. ETH outpaced Bitcoin and might even attempt a clear move above the $2,400 resistance. Ethereum is attempting a fresh increase above the $2,350 resistance level. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh surge if there is a close above the $2,400 level. Ethereum Price Starts Increase Ethereum price formed a base above the $2,220 level and started a fresh increase. ETH saw a sharp upward move despite a drop in Bitcoin below $46,500. The price gained pace for a move above the $2,300 and $2,320 levels. It even broke the $2,350 resistance and tested the $2,400 zone. A high was formed near $2,399 and the price is now consolidating gains. There was a minor drop below $2,360. The price declined below the 23.6% Fib retracement level of the recent increase from the $2,243 swing low to the $2,399 high. Ethereum is now trading above $2,320 and the 100-hourly Simple Moving Average. There is also a key rising channel forming with support near $2,300 on the hourly chart of ETH/USD. If there is a fresh increase, the price might face resistance near the $2,380 level. The next major resistance is now near $2,400. A clear move above the $2,400 level might send ETH toward $2,440. A close above the $2,440 resistance could start a decent upward move. Source: ETHUSD on TradingView.com The next key resistance is near $2,550. If the bulls push Ethereum above $2,550, there could be a rally toward $2,720. Any more gains might send the price toward the $2,800 zone. Another Decline in ETH? If Ethereum fails to clear the $2,400 resistance, it could start a fresh decline. Initial support on the downside is near the $2,320 level or the 50% Fib retracement level of the recent increase from the $2,243 swing low to the $2,399 high. The first key support could be the $2,300 zone. A downside break and a close below $2,300 might send the price further lower. In the stated case, Ether could test the $2,240 support. Any more losses might send the price toward the $2,150 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $2,300 Major Resistance Level – $2,400

Bitcoin price jumped toward $48,000 after the hacked SEC account tweet. BTC trimmed all gains, but the uptrend support is still intact near $45,200. Bitcoin spiked toward the $47,800 and $48,000 resistance levels. The price is trading above $45,500 and the 100 hourly Simple moving average. There is a major contracting triangle forming with resistance near $46,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up toward the $48,000 level unless there is a close below $45,000. Bitcoin Price Faces Rejection Bitcoin price started a fresh increase above the $45,500 resistance zone. BTC gained bullish momentum above the $46,000 and $46,500 levels after the hacked SEC account tweet about the ETF approval. After clarification, there was a sharp rejection near the $48,000 zone. A high was formed near $47,988 before the price started a fresh decline. There was a move below the $47,000 and $46,500 levels. The price dived toward the $45,000 support. A low was formed near $44,828 and the price is now rising. It is back above the 23.6% Fib retracement level of the recent decline from the $47,988 swing high to the $44,828 low. Bitcoin is now trading above $45,500 and the 100 hourly Simple moving average. There is also a major contracting triangle forming with resistance near $46,800 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $465,400 level. It is near the 50% Fib retracement level of the recent decline from the $47,988 swing high to the $44,828 low. Source: BTCUSD on TradingView.com The first major resistance is $46,800. A clear move above the $46,800 resistance could send the price toward the $47,200 resistance. The next resistance is now forming near the $48,000 level. A close above the $48,000 level could send the price further higher. The next major resistance sits at $49,250. More Losses In BTC? If Bitcoin fails to rise above the $46,800 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $45,550 level. The next major support is $45,200. If there is a move below $45,200, the price could gain bearish momentum. In the stated case, the price could drop toward the $44,800 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $45,500, followed by $45,200. Major Resistance Levels – $46,400, $46,800, and $47,200.

Solana (SOL), the fifth largest cryptocurrency by market capitalization, has experienced a significant surge after undergoing a correction from its 20-month high of $125, reached on December 25. Following a dip to the $85 level on Monday, January 8, SOL reclaimed the $100 level again, demonstrating a 6.4% surge in the past 24 hours. Moreover, technical analysis indicates a potential bullish continuation pattern known as a bull flag in Solana’s 1-hour chart, which suggests the possibility of further price gains beyond the previous high. Solana Optimism For Price Breakout Technical analyst Ali Martinez has identified a bullish pattern known as a bull flag formation on Solana’s hourly chart. A bull flag is characterized by a consolidation period following a strong upward move. In this case, the dip to the $85 level could be considered the consolidation phase. The formation suggests that SOL may experience another significant upward move shortly. As seen in the chart above, to confirm the validity of the bull flag pattern, SOL needs to achieve a decisive close above the $110 resistance level. Such a breakthrough could catalyze upward momentum and propel the price to new highs. If the bull flag pattern holds, Ali Martinez anticipates that SOL could aim for an ambitious target of $163. However, Solana faces multiple resistance levels that it must overcome to reach the potential target indicated in Ali Martinez’s hourly chart analysis. The $110 resistance, the $120 mark, and the previous 20-month high of $125 present significant hurdles for Solana’s price action. These levels have the potential to impede further upward movement, as they have previously acted as resistance during the bear market of 2022. Additionally, the $132 and $137 levels are anticipated to provide additional resistance, as they were the price points from which Solana’s price decreased in April 2022. Lastly, the $151 and $154 levels will serve as the final thresholds for Solana’s bears to hold if they aim to halt any potential price increase before reaching the $163 target. Solana’s Ecosystem Consistent Growth Despite the volatility in SOL’s price over the past month, Token Terminal data reveals consistent growth in Solana’s blockchain ecosystem. According to the data, Solana’s circulating market cap has surged impressively to $43.54 billion, representing a substantial 20.08% increase in value over the last 30 days. Moreover, the fully diluted market cap has surged to $57.13 billion, reflecting an 18.82% growth, which illustrates a strong investor interest in Solana and its potential for future growth. Solana’s revenue has also experienced substantial growth over the past 30 days, with a staggering increase of 217.18% to reach $5.68 million. On an annual basis, the revenue has reached an impressive $69.12 million, exhibiting a remarkable surge of 142.15%. Ultimately, Solana’s fees have significantly increased over the past 30 days, with an increase of 217.18% to $11.36 million. On an annualized basis, the fees amount to $138.24 million, marking a substantial growth of 142.15%, reflecting the network’s growing usage and transactional activity. Featured image from Shutterstock, chart from TradingView.com

Ethereum (ETH) is currently at a crossroads that could define its trajectory in the coming weeks. Renowned crypto analyst Michaël van de Poppe has shared a notably bullish perspective, highlighting Ethereum’s approach to its 2022 low as a potential springboard for a breakout. In his analysis, Van de Poppe underscores the importance of Ethereum’s current positioning, suggesting that its proximity to last year’s low could be a catalyst for absorbing liquidity and igniting a bullish trend. Analyst’ Ethereum Bullish Projection Amid Market Movements Van de Poppe’s forecast hinges on the broader market context, particularly the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the US. Should this approval materialize, he anticipates a significant impact on the ETH/BTC trading pair, potentially leading to a liquidation candle – a sharp price movement. Subsequently, Van de Poppe predicts a substantial shift in market dynamics with funds rotating into Ethereum. This move, he believes, will be accompanied by a “bullish weekly divergence,” setting Ethereum on an upward trajectory. Meanwhile, Ethereum appears to be struggling to catch up with Bitcoin’s price performance. It recently surpassed the $2,300 mark, echoing Bitcoin’s surge above $47,000 – its highest since April 2022. However, Ethereum has seen a slight retracement and is currently trading around $2,249. This slight dip comes amid a week when the asset experienced a 5.8% decline, contrasting with its significant trading volume surge from $13 billion last Tuesday to over $23 billion today. Upward Swing With Potential Spot Bitcoin ETF Approval The critical factor in Van de Poppe’s analysis is the potential approval of a spot Bitcoin ETF in the US. The market is on edge, with major players like BlackRock leading the spot ETF race alongside others like Grayscale Investments, Valkyrie, and ARK 21Shares. These firms have recently submitted updated 19b-4 filings for their proposed Bitcoin ETFs, with the market sentiment heavily leaning towards a positive outcome. BlackRock, in particular, has stirred significant optimism in this spot Bitcoin ETF race. With an approval decision expected by January 10, tomorrow, such a development could bolster Bitcoin and catalyze a fund rotation into Ethereum. Van de Poppe isn’t alone in his bullish stance on Ethereum. Crypto Tony, another prominent crypto analyst, shares a similar outlook. Tony posits that Ethereum’s path to a bullish phase could commence if it maintains above the key level of $2,130. Currently trading above this crucial point, Ethereum’s stability at or above this level is considered a sign of market strength, potentially paving the way for future gains. Furthermore, a push towards and above the $2,500 mark could significantly bolster Ethereum’s bullish momentum, as highlighted by Crypto Tony. Featured image from Unsplash, Chart from TradingView

Bitcoin has observed a sharp rally beyond the $47,000 level as data shows buying pressure on Coinbase has displayed no signs of letting off. Bitcoin Has Surged More Than 4% In Last 24 Hours As ETF Deadline Nears After the asset’s indecisiveness over the last few days, the cryptocurrency has appeared to have picked its direction in the last 24 hours, as its price has increased sharply. At the peak of this surge, the coin had crossed beyond the $47,300 mark, but since then, the coin has registered some pullback as it’s now down to $46,500. The below chart shows how Bitcoin has performed during the last few days. With this surge, the coin is up over 4% in the last 24 hours. The only cryptocurrencies in the top 20 market cap list that have attained better returns during this period are Solana (SOL) and Bitcoin Cash (BCH). This latest rally to levels not visited since March 2022 has come for the cryptocurrency as the US SEC deadline for a decision on BTC spot ETFs is approaching fast. With the expectation in the market widely being that the ETFs would get approved, it’s not surprising that buyers may be jumping in, expecting the asset to rally further after the ETFs start trading. Data of an indicator could also point towards large entities being involved in accumulation in this leadup to the day of decision. BTC Coinbase Premium Gap Has Been Positive For More Than A Week Now As CryptoQuant Netherlands community manager Maartunn pointed out in a post on X, the Bitcoin Coinbase Premium Gap has been positive for several consecutive days. The “Coinbase Premium Gap” refers to a metric that keeps track of the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). This indicator’s value tells us about the difference in the buying (or selling) behaviors on the two largest platforms in the sector. Below is a chart showing the recent trend in this metric’s 14-day simple moving average (SMA). As displayed in the above graph, the Bitcoin Coinbase Premium Gap has been positive for almost 2024, with only one dip in the metric coming on the first day of the year. This suggests that the buying pressure on Coinbase has been greater than on Binance for over a week now. US-based institutional investors widely use the former, while the latter hosts more global traffic. Thus, this indicates that large institutional traders have possibly been going shopping recently. Another indicator that suggests accumulation from the whales is the “large holders netflow” metric from IntoTheBlock, which has displayed positive spikes recently. “Large holders bought the dip! Bitcoin holders holding >1% of the supply accumulated more than 14k BTC over the past week as prices dipped below $43k,” explains IntoTheBlock.

SAN DIEGO–(BUSINESS WIRE)–Matter Now, Inc., a leader in the carbon credit marketplace, proudly announces the acquisition of Cathbad House, a company renowned for its carbon credit education and blockchain technology. This strategic move fortifies Matter Now, Inc.’s commitment to environmental sustainability and marks a significant expansion in the carbon credit industry. Cathbad House offers training courses for farmers, foresters, and small and mid-size businesses to create carbon credits and thereby help offset climate change. With a focus on sustainability, compliance and innovation, Cathbad House leverages Web3 technologies to provide blockchain-stored certification. This approach not only simplifies the user experience but also aligns perfectly with Matter Now, Inc.’s vision of integrating advanced technology for environmental benefit. Key Highlights: Innovative Solutions: Leveraging Cathbad’s expertise in sustainable, blockchain-based carbon credit education. Strategic Alignment: Enhancing Matter Now, Inc.’s portfolio with Cathbad’s unique offerings and commitment to sustainability. Educational Focus: Matter reaffirms its commitment to Cathbad Trading’s educational initiatives, aiming to broaden knowledge and participation in the carbon credit market. Leadership Insight: “With the acquisition of Cathbad House, Matter Now, Inc. is poised to redefine the carbon credit landscape. This move isn’t just a business expansion; it’s a step toward our vision of a greener future. By combining Cathbad’s innovative educational approaches and blockchain technology with Matter’s existing infrastructure, we’re setting a new standard for environmental responsibility in the carbon credit market. This acquisition enables us to empower a wider audience with the knowledge and tools needed to make a tangible impact in the fight against climate change,” stated JP Palacio, CEO of Matter Now, Inc. “We will be very active in growing Matter through additional acquisitions.” About Matter Now, Inc.: Matter Now, Inc. is a key player in the carbon credit market, utilizing blockchain technology for secure, transparent trading. For more information, visit https://www.matternow.org/ About Cathbad House: Cathbad Trading specializes in carbon credit education and blockchain technology, focusing on sustainability and compliance. https://cathbadtrading.com/ Contacts Name: JP Palacio Title: CEO Email: [email protected] matternow.org

Crypto exchange Coinbase, one of the largest exchanges in the world, has released its latest report on Bitcoin and the crypto market, highlighting its expectations for the Industry. The 44-page report launched by Coinbase Institutional in conjunction with Glassnode predicts a repeat of one of the most explosive bull markets in recorded crypto history; the 2018-2022 market cycle. Coinbase Says Bitcoin Will Repeat 2018-2022 Cycle In the report, Coinbase and Glassnode analysts take into account a number of indicators and metrics, such as total supply in profit, among others, to figure out which trend the next bull market is expected to follow. Now, after consideration and comparison to all of the previous bull cycles, the analysts settle on the 2018-2022 cycle being the most likely to be emulated this time around. So far, Bitcoin and Ethereum are the cryptocurrencies that have shown the most correlation at the start of the 2018-2022 cycles, suggesting that a similar breakout could be in the cards. However, looking at the chart, it shows a sharp deviation from the previous cycles, especially as the bull market looks to be starting earlier than it did in 2020. When it comes to the level of risk associated with assets such as Bitcoin and Ethereum, the report highlights the fact that crypto has deviated from traditional assets once again. This comes after the correlation between crypto and traditional finance markets rose to new all-time highs back in 2022. But as Coinbase explains, “2023 saw a reversion to historical norms, indicating that crypto can be a source of idiosyncratic risk.” As another Bitcoin halving event draws near, Bitcoin has also seen a resumption in its surge, spurred forward by expectations of a Spot Bitcoin ETF. Coinbase notes that “As crypto has matured as an asset class and institutional participation has increased, volatility has trended steadily lower.” What Happens If BTC Price Repeats 2018-2022 Cycle? Looking back at the last bull cycle shows us what to expect if Bitcoin and the crypto market at large were to repeat the same trend. In this case, expectations would be that the BTC price would rise at least 3x higher than its previous all-time high price of $69,000. In this case, Bitcoin would be looking at a value of at least $200,000 by the time the next bull market is in full swing. Following the 3.6x move that Bitcoin did to reach its new 2021 all-time high versus its 2018 all-time high, the BTC price would be looking at a cycle peak of almost $250,000. As for Ethereum, following the same trend and doing a 3.2x from its previous all-time high to its new all-time high, it would put the ETH price above $15,000. In the same vein, the crypto market would also rise more than $10 trillion. However, all of this is speculation as the crypto market has been known to deviate from expectations. Like the previous bull markets, the next one is expected to be novel, especially given the fact that institutional investors have fully come out to play. This could mean hundreds of billions of dollars in liquidity injections that could drive prices higher than expected.

AI-powered MBUX Virtual Assistant transforms user interface and makes human-like interaction possible New MB.OS architecture underpins powerful 3D graphics and expanded in-car app portfolio Two revolutionary cooperations for fully immersive entertainment: Together with will.i.am Mercedes-Benz develops MBUX SOUND DRIVE and, collaborating with Audible and Amazon Music cooperation, the company is bringing podcasts and audio books into the vehicle STUTTGART, Germany & LAS VEGAS–(BUSINESS WIRE)–At CES 2024, Mercedes-Benz is pushing forward with an exciting range of digital advancements set to transform the customer experience – both in-car and beyond. Central to this is a new MBUX Virtual Assistant that uses generative AI and advanced 3D graphics making interactions between the customer and vehicle more natural, intuitive and personalized. Running on the new Mercedes-Benz Operating System (MB.OS) developed in-house, the MBUX Virtual Assistant will pave the way for an extraordinary digital experience. This year’s CES is also the backdrop for the North American premiere of the Concept CLA Class, which is based on the forthcoming Mercedes-Benz Modular Architecture (MMA). Further highlights include a new in-car music experience called MBUX SOUND DRIVE, which was developed by Mercedes-AMG in collaboration with American entrepreneur will.i.am1. Meanwhile, Mercedes-Benz is elevating in-car audio storytelling through a new collaboration with Audible and Amazon Music. A camouflaged prototype of the new all-electric G-Class is also making its North American debut at booth #4941 in the Las Vegas Convention Center. “With our MB.OS, world-class collaborations and the latest developments in generative AI, we are transforming the relationship our customers have with their Mercedes-Benz. Our digital advances on show at CES 2024 are proof points on our journey towards the hyper-personalized Mercedes-Benz user experience.” Markus Schäfer, Member of the Board of Management at Mercedes-Benz Group AG, Chief Technology Officer MBUX Virtual Assistant – delivering a hyper-personalized user experience The MBUX Virtual Assistant unveiled at CES 2024 is the most human-like interface with a Mercedes-Benz yet. Based on MB.OS, it presents a new face to the customer with natural and empathetic interactions. With its four different emotions, the MBUX Virtual Assistant is in tune with customer needs and uses generative AI and proactive intelligence to make life easy, convenient and comfortable. The power of MB.OS and advanced 3D game-engine graphics is also fully utilized in MBUX Surround Navigation, which seamlessly combines route guidance and assistance. Meanwhile, Mercedes-Benz is bringing even more productivity and personalization into the car with the ongoing expansion of its app portfolio. These include MBUX Collectibles, Mercedes-Benz’s first in-car app to showcase NFTs like the limited-edition Mercedes-Benz NXT Superdackel collection, which pays homage to the activity at last year’s CES. North American premiere – Concept CLA Class The first Mercedes-Benz to showcase MB.OS is the Concept CLA Class – which celebrates its North American debut at CES 2024. Designed on the new Mercedes-Benz Modular Architecture (MMA), it redefines an entire class with its innovative electric drive and forward-looking sustainability. The Concept CLA Class is the new hypermiler for the electric age. It is capable of a predicted single-charge range of more than 466 miles (750 km) (WLTP2) and energy consumption of around 12 kWh/100 km (5.2 mi/kWh). This comes from a new in-house developed electric drive unit (MB.EDU), which delivers up to 93-percent efficiency from battery to wheels over long distances. The 800-volt architecture also enables high-power 300+ kW DC charging (including a 50 kW boost), which can deliver up to 248 miles (400 km) of range in 15 minutes. There will be a total of four models based on the MMA – a four-door coupe, a shooting brake and two SUVs. Concept CLA Class PI From the studio to the streets – music in rhythm with the driving style At CES 2024, Mercedes-Benz is announcing a range of groundbreaking entertainment features via two industry-first partnerships. First, Mercedes-AMG has teamed up with American entrepreneur will.i.am to launch MBUX SOUND DRIVE. This technology will transform the way we listen to music in the car. Using advanced software, it allows music to react to how the car is being driven, turning every trip into a dynamic musical journey. A new chapter for immersive audio – vehicle as a rolling concert hall For the second collaboration Mercedes-Benz joins forces with Audible and Amazon Music to begin a new chapter of in-car storytelling. By harnessing the power of Dolby Atmos, this partnership will bring spoken-word audio to life. It will put customers at the center of a dynamic, concert-hall sound experience covering audio books, Originals, podcasts and music. On January 9th at CES 2024, podcaster, writer and producer, Dirk Maggs, will open with insights about the art of storytelling. Then, Amazon VP for Audio, Twitch and Games, Steve Boom, and Mercedes-Benz Chief Software Officer, Magnus Östberg, will come together to explain how this partnership will deliver unrivalled in-car entertainment. Modern thrills and retro classics – transforming the car into a gaming hub Mercedes-Benz is also using the CES stage to announce new platforms and partnerships that will enhance its in-car gaming service. A collaboration with the world’s first retro games streaming service, Antstream Arcade, will integrate cloud gaming into the car. Mercedes-Benz also has its own vision for immersive in-car gaming, which is showcased in the current E-Class. A futuristic runner game combines the computing power of MBUX, together with interior vehicle sensors and actuators. EQS sedan and S-Class now available with DRIVE PILOT and other new features Mercedes-Benz has reached another milestone by launching DRIVE PILOT – the first and only certified system for SAE Level 3 conditionally automated driving in the U.S. that is approved in the states of California and Nevada. Customer deliveries of 2024 EQS sedan and S-Class models equipped with DRIVE PILOT are due to start in early 2024 through participating authorized Mercedes-Benz dealers in California and Nevada. DRIVE PILOT is available on select EQS sedan and S-Class models and can be activated via the U.S. Mercedes me connect store. The EQS sedan is now also available with the new Executive Interior Package that significantly improves comfort in the rear. About Mercedes Benz Mercedes-Benz USA (MBUSA), headquartered in Atlanta, is responsible for the distribution, marketing and customer service for all Mercedes-Benz products in the United States. MBUSA offers drivers the most diverse lineup in the luxury segment with 18 model lines ranging from the sporty GLA SUV to the flagship S-Class and the dynamic all-electric vehicles from Mercedes-Benz. MBUSA is also responsible for Mercedes-Benz Vans in the U.S. More information on MBUSA and its products can be found at www.mbusa.com and www.mbvans.com. Accredited journalists can visit our media site at media.mbusa.com. 1 If you must include his legal name in your coverage, it is William Adams. All other names shown in wikis and previously published stories are incorrect. 2 The figures are provided in accordance with the German regulation “PKW-EnVKV” and apply to the German market only. Further information on official fuel consumption figures and the official specific CO₂ emissions of new passenger cars can be found in the EU guide “Information on the fuel consumption, CO₂ emissions and energy consumption of new cars”, which is available free of charge at all sales dealerships, from DAT Deutsche Automobil Treuhand GmbH and at www.dat.de. Contacts Michael Minielly, [email protected] Andrea Berg, [email protected] Cathleen Decker, [email protected]

Leading liquid staking protocol for Cronos, Veno Finance, made its debut on the zkSync Era Layer-2 blockchain scaling solution. With its introduction, zkSync Era users may now directly stake their ETH tokens and obtain Liquid ETH (LETH) tokens, creating new opportunities for yield farming inside the platform’s decentralized finance ecosystem. Users of zkSync may more easily support the Ethereum network thanks to the Veno protocol. It functions by creating a bridge between ETH tokens on the Ethereum mainnet and the zkSync Era, automating user staking and withdrawal of ETH. Users of zkSync Era may earn extra return on its DeFi protocols by staking ETH natively, for which they will get an equal number of LETH tokens. As part of its roadmap, Veno intends to add its native VNO token to the zkSync Era blockchain in order to reward LETH liquidity providers. Holders of VNO tokens are urged to support LETH liquidity in a variety of ways. Depending on how much and how long they commit to locking up their tokens, users may lock their VNO into the Fountain and get incentives in the form of extra VNO. As an alternative, customers may lock their VNO into the Reservoir and get Real Yield incentives in ETH, which make up half of all the revenues Veno receives from ETH staking. Users of zkSync Era may transfer their LETH-ETH-LP tokens into Veno Garden as part of an extra incentive mechanism to get more VNO rewards. Additionally, Veno creates additional chances by giving customers an NFT receipt each time they take their LETH tokens out, thereby enabling instant access to unstaked assets. This NFT gives consumers a method to spend their funds before they become accessible as a proof of withdrawal. It is anticipated that when the Exit Queue for staked ETH expands, this functionality will become more and more helpful. If this occurs, it may take weeks or even months for staked Ethereum withdrawals to be processed, which means those tokens are not being used for long stretches of time. Zimfony, Product Lead of Veno Finance stated: With this announcement, Veno joins the ranks of the first native Ethereum liquid staking protocol, enabling native Ethereum staking and withdrawals on the zkSync Era blockchain. Veno is positioned to develop a protocol that has already seen substantial growth over the previous year by securing this first-mover advantage. For example, in the previous three months, Veno’s total value locked (TVL) has doubled, while in the last year, the number of unique stakers has grown tenfold. After the introduction of its Veno Gardens platform, which offers VNO token holders a range of choices to optimize their income potential, Veno has reached yet another significant milestone with the extension to zkSync Era. In addition, Veno introduced its CRO Liquidity Strategy, which automatically harvests and compounds incentive rewards for users, and became the first to offer ATOM staking on Cronos. One of the Ethereum blockchain’s fastest-growing L2 scaling solutions, zkSync Era allows the most widely used decentralized network in the world to rise to unprecedented heights. The use of zkSync Era has increased significantly due in large part to its innovative use of zero-knowledge proof technology, which allows for safe, quick transactions at a fraction of the usual cost.

As the US SEC prepares to make its final decision regarding Spot Bitcoin ETF approvals, the Depository Trust and Clearing Corporation (DTCC) has officially listed the Spot ETFs tickers from investment management firm, VanEck. VanEck’s Spot ETF Ticker Listed on DTCC American investment management firm VanEck’s Spot Bitcoin ETF has recently appeared on the active and pre-launch list of the DTCC. VanEck’s ETF can be identified by the ticker ‘HODL’ on the DTCC’s official platform. This move positions VanEck as a key player in the evolving landscape of Spot ETF investments. Additionally, the listing is seen as a crucial step towards integrating Spot Bitcoin ETFs into the mainstream financial sector if the United States Securities and Exchange Commission (SEC) decides to approve Spot Bitcoin ETFs. Alongside VanEck, WisdomTree’s Spot Bitcoin ETF ticker, ‘BTCW’ has also been officially listed on the DTCC website. The investment management firm previously submitted its Spot BTC ETF application to the US SEC in June 2023. However, the regulator has consistently delayed approval of WisdomTree’s Spot Bitcoin ETF application. The US SEC has also delayed 13 Spot Bitcoin ETF applications from prominent companies such as BlackRock, ARK Invest, Grayscale, and others. The regulatory agency faces a deadline of January 10, to either accept or reject these Spot Bitcoin ETF applications. Although there is a possibility for the SEC to decline Spot BTC ETFs several experts, including Bloomberg analysts, James Seyffart and Eric Balchunas have revealed a 90% chance of the regulator approving Spot BTC ETFs in January. VanEck Reveals $72 Million Bitcoin ETF Seed Fund On Monday, January 8, VanEck submitted an amended Spot Bitcoin ETF S-1 filing to the SEC. In its filing, VanEck disclosed that the financial company had purchased 1,640.92489329 BTC worth $72.5 million on January 5, to support its Spot ETF. The substantial seeding will provide a solid foundation for VanEck’s Spot Bitcoin ETF, potentially paving the way for increased participation by institutional investors. In addition to VanEck’s Seed Creation Baskets, major asset management companies in the Spot Bitcoin ETF race like BlackRock, Bitwise, and Fidelity have announced their various seed funds. Bitwise revealed a $200 million seed fund made by Pantera Capital to support its Spot BTC ETF. The asset management company has also put forward $500,000 to fund its proposed Spot BTC ETF. Meanwhile, BlackRock and Fidelity have announced plans to seed their Spot Bitcoin ETFs with $10 million and $20 million respectively. BlackRock previously submitted an amended S-1 filing to the SEC in December, revealing a 227.9 BTC purchase to seed its Spot ETF by January 3.

MATIC experienced a significant rebound following a crucial announcement about upgrading transaction fee calculations. Despite the positive development, MATIC has been grappling with a bearish pattern for almost 60 days. MATIC’s price fell below a descending resistance trend line that has been in place since its all-time high of $2.90. Polygon (MATIC) experienced a noteworthy rebound recently following a crucial announcement from its development team regarding a substantial upgrade in transaction fee calculations. However, despite this positive development, MATIC continues to grapple with a bearish pattern that has persisted for nearly 60 days. Polygon declines from trend line The decline of the MATIC price below a long-standing descending resistance trend line, in place since its all-time high of $2.90 in December 2021, has been a persistent challenge. After reaching a low of $0.32 in June, MATIC struggled to break free from the downward trend, facing multiple rejections from the resistance line. While December showed signs of a breakthrough, a subsequent bearish candlestick invalidated the breakout, underscoring the enduring nature of the trend. Traders often turn to indicators like the Relative Strength Index (RSI) to gauge market momentum and identify potential overbought or oversold conditions. Currently, the weekly RSI for MATIC hovers above 50 but is on a downward trajectory, presenting mixed signals and leaving the overall trend undetermined. Analyst Perspectives on MATIC’s Future Despite the ongoing challenges, cryptocurrency traders and analysts, such as Captain Faibik, express optimism about MATIC’s future. Faibik anticipates a substantial 600% rally once the price successfully breaks out of its long-term pattern. Last week, Polygon’s development team unveiled a crucial upgrade concerning transaction fee calculations on the Polygon zkEVM. The new mechanism leverages execution data in transactions to provide users with more accurate and comprehensive transaction fee information. While the daily timeframe analysis provides a mixed outlook due to the prevailing bearish pattern since November 2023, a recent bounce saved MATIC from a potential breakdown. The emergence of a bullish hammer candlestick following a rejection from the channel’s resistance trend line on December 27 signals a possible reversal.

McClurg anticipates that ten ETFs will debut simultaneously. The CIO predicts that $200M to $400M would come into Valkyrie’s ETF on Thursday. The first bitcoin spot exchange-traded fund is awaiting approval or rejection from the U.S SEC, and crypto traders are waiting eagerly with high hopes. Valkyrie Investments, one of the issuers, is expecting a decision soon. Valkyrie Investments co-founder and CIO Steven McClurg stated: When trading starts on Thursday, McClurg predicts that $200 million to $400 million would come into Valkyrie’s ETF. In the first two weeks, he estimates that all participants may witness inflows of $4 to $5 billion. Retail Investors Likely First Backers Though not all thirteen ETF candidates may be selected in the first round, McClurg anticipates that ten ETFs will debut simultaneously. So far, U.S. institutional investors have been the bitcoin spot ETF’s greatest hope, but according to McClurg, retail investors are more likely to be the first backers. He speculated that this is due in part to the fact that financial advisers often wait to suggest new financial products to clients until they have had a chance to see how they trade. Establishing a spot bitcoin ETF differs significantly from establishing a “normal” ETF in that the latter requires the issuer to get the SEC’s approval despite the fact that the assets are held by a cryptocurrency exchange rather than a conventional custodian. Market excitement has been heightened as experts from Bloomberg Intelligence have estimated the probability of approval this week at an astounding 95%. Traders and investors in cryptocurrency could expect a wild week ahead due to the decision that the U.S SEC is expected to make. Highlighted Crypto News Today: XRP Faces Critical Crossroads: Will It Break Out or Face Another Rejection?

Shiba Inu (SHIB) token experiences an extraordinary 667% surge in burn rate, indicating potential growth. SHIB’s value sees a slight increase, signaling a positive shift in investor sentiment and a potential sustained bullish trend. Significant wick-down breaches the critical 200-day Exponential Moving Average (EMA). The Shiba Inu (SHIB) token has experienced an extraordinary surge of 667% in its burn rate, marking a pivotal moment for potential growth. This surge aligns with a slight increase in SHIB’s value, reflecting a positive sentiment shift among investors and suggesting the emergence of a more sustained bullish trend. The momentum is further emphasized by SHIB’s technical indicators, where a significant wick down breached the critical 200-day Exponential Moving Average (EMA), a key level closely monitored by traders to assess long-term market trends. The rapid rebound from this breach indicates robust buying interest at lower price levels and a rejection of lower valuations by the market. The breach and subsequent recovery above the 200 EMA hold substantial significance, as this moving average serves as a barometer for investor sentiment and market momentum. SHIB’s ability to reclaim and sustain this level could act as confirmation of strength, potentially attracting more buyers and reinforcing an upward trajectory for the asset. Shiba Inu burn rate on the rise The recent surge in SHIB’s value is accompanied by a notable increase in trading volume, indicating heightened activity and more transactions. This surge in volume correlates with a significant spike in the token burn rate, as observed in the latest 24-hour data. A higher burn rate effectively reduces the overall supply of the token. When paired with steady or increased demand, this scarcity can contribute to the appreciation of the token’s price. The aggressive burning of SHIB tokens, evident in recent transaction records, suggests a strategic move by the SHIB community and developers to induce scarcity deliberately. This intentional reduction in token supply not only reflects a proactive approach to managing the token’s availability but also underscores a commitment to fostering its growth. In conclusion, the notable surge in SHIB’s burn rate serves as a growth signal, supported by positive market indicators and strategic initiatives aimed at managing token supply. As Shiba Inu enthusiasts closely monitor these developments, the token’s trajectory remains poised for potential appreciation in the ever-evolving cryptocurrency landscape.

The crypto community is buzzing about the US Securities and Exchange Commission (SEC) approving spot Bitcoin Exchange-Traded Funds (ETFs). This anticipation has permeated market discussions and significantly influenced social media metrics around Bitcoin. According to Santiment, a leading on-chain analytics platform, there has been a notable increase in Bitcoin’s social dominance in recent times, particularly in short-term periods. Bitcoin Social Dominance Surge And Market Response Santiment’s data reveals a spike in Bitcoin ETF-related conversations since mid-October, marking the highest level of social interest since the bullish rally. The top eight trending topics in these discussions include ETF, BTC, week, approval, BTC ETF, Monday, spot, and Gary, signifying the community’s focus on the potential ETF approval. This trend is not just a reflection of growing investor interest but also points to the impact of social sentiment on market dynamics. As conversations around Bitcoin ETFs dominate social platforms, they highlight the significant role of community expectations and speculative discussions in shaping market trends. Amid this heightened social chatter, Bitcoin’s market performance has mirrored the optimistic sentiment. Yesterday, the flagship crypto surged past the $47,000 mark, a notable achievement since April 2022. Although there has been a slight retracement, with Bitcoin currently trading around $46,721, the asset maintains a 3.8% increase over the past day. ETF Approval Anticipation: Analysts Offer Perspectives On SEC’s Swift Response Notably, Bitcoin’s rally underscores the market’s responsiveness to the spot ETF buzz and the potential impact of the anticipated approval. So far, experts in the field have been closely monitoring these developments, offering their insights into the unfolding scenario. One significant observation comes from James Seyffart, an ETF sector analyst, who offers an alternative view to the speculation of an approval delay by the US SEC. Seyffart acknowledges the SEC’s recent comments on the S-1 filings of aspiring issuers, particularly regarding fee structures. However, he interprets these developments not as signs of postponement but as indications of the SEC’s readiness to progress. The promptness in the SEC’s feedback, Seyffart notes, is unusual for the agency and suggests an eagerness to advance the approval process. Echoing Seyffart’s opinion, ETF specialist Scott Johnsson remarked on the unusual swiftness of the SEC’s recent feedback. Johnsson remembered how past ETF approvals, such as the futures-based ones in 2022, did not require fully completed S-1 forms for 19b-4 approval. Johnsson suggests that the current swift response from the US SEC likely indicates a deliberate effort to accelerate the approval and introduction of spot Bitcoin ETFs. This perspective offers a ray of hope to the crypto community, eagerly awaiting a favorable decision that could significantly impact the market and solidify Bitcoin’s position in the broader financial landscape. Featured image from Unsplash, Chart from TradingView

In July 2023, XRP broke a long-term descending resistance trend line after hitting a low of $0.29 in June 2022. The breakout led to a surge in the XRP price to $0.94, followed by a pullback finding support at the once-resistance trend line. Currently, XRP is trading above a horizontal area that has served as both support and resistance since 2021. The XRP price managed to break free from a long-term descending resistance trend line, a development that unfolded in July 2023 after reaching a low of $0.29 in June 2022. Following this breakout, XRP surged to a high of $0.94, subsequently experiencing a pullback that intriguingly found support at the once-resistance trend line. Currently, XRP trades above a horizontal area that has historically served as both support and resistance since 2021. XRP Indicators and Momentum Insights Examining the Relative Strength Index (RSI), a key momentum indicator, the weekly readings hover around 50, indicating an undetermined trend. A reading above 50 coupled with an upward trend typically signals bullish sentiment, while readings below 50 suggest the opposite. The RSI’s neutral stance adds an element of uncertainty to XRP’s current trajectory. Crypto analysts and traders on X are expressing optimism about Ripple’s potential uptrend. CryptoWZRD anticipates a breakout from the descending resistance trend line, propelling the price toward $0.75. Similarly, Cryptoes observes a robust bullish engulfing daily candle, emphasizing the need for a close above the $0.578 resistance level to revisit $0.60. RealXRPwhale speculates that the recent dip marks the final downside for Ripple before a potential upward move. Additionally, rumors are circulating regarding a potential Ripple ETF launch by Fidelity. The critical question emerges: Will Ripple break down from the $0.54 support or stage a breakout from the descending resistance trend line? The answer to this question will undoubtedly shape the future trend for XRP, creating an air of anticipation among investors and enthusiasts alike.

While Bitcoin exchange-traded fund (ETF) applications are still awaiting approval from the US Securities and Exchange Commission (SEC), executives from asset management firms are already speculating about the potential launch of spot ETFs for other major cryptocurrencies, including XRP and Ethereum (ETH). Valkyrie Invest’s Chief Investment Officer, Steven McClurg, expressed his belief that the SEC’s potential approval of a Bitcoin ETF could pave the way for similar offerings in the XRP and Ethereum markets. However, regulatory challenges and classifying XRP and Ethereum as securities may present hurdles toward these index funds. XRP And Ethereum Spot ETF Potential Hurdles Unlike Bitcoin, which has been classified as a commodity by regulators, XRP and Ethereum have been deemed securities. This divergence in classification poses potential difficulties and may necessitate a more complex approval process for spot ETFs tracking these cryptocurrencies. The anticipated impact of spot ETF approval on the XRP and Ethereum price would mirror the pattern seen with Bitcoin. Still, the SEC’s skepticism towards the broader cryptocurrency market could pose additional hurdles for XRP and Ethereum ETFs. Nevertheless, the outcome of the ongoing Ripple vs. SEC case holds significant implications and could hold the key for the cryptocurrency industry to pursue these index funds for other cryptocurrencies. If Ripple, the blockchain payment company associated with XRP, emerges victorious and is not classified as a security by Judge Analisa Torres, it could establish a precedent for asset managers seeking to apply for an XRP ETF. This legal precedent could also prompt potential litigation against the SEC to support an Ethereum ETF application. While discussions revolve around the possibility of spot ETFs for XRP and Ethereum, there is still uncertainty surrounding the approval of Bitcoin ETFs. The SEC may reject or delay the pending applications, making it uncertain whether these other index funds will materialize. Furthermore, US regulators’ current classification of XRP and Ethereum as securities adds an additional layer of complexity to their respective ETF prospects. Bitcoin ETF Decision Imminent As reported on Monday by NewsBTC, Sources close to the process have indicated that the ultimate approval for Bitcoin ETFs may come on Wednesday. CNBC’s sources suggest that this coincides with the application deadline for Ark Invest and 21 Shares, raising the possibility of a potential trading launch between Thursday and Friday. Several applications are expected to receive the green light, pending updates from the SEC on the filings. Overall, as anticipation builds around the potential approval of Bitcoin ETFs, asset managers are already contemplating the prospect of spot ETFs for other major cryptocurrencies like XRP and Ethereum. However, the regulatory challenges and the classification of XRP and Ethereum as securities present significant hurdles for these index funds. The Ripple vs. SEC case outcome could have far-reaching implications, potentially setting a legal precedent for asset managers to pursue XRP and Ethereum ETFs. XRP is trading at $0.5673, showing a lack of bullish momentum with a 1% decline in the past 24 hours. Furthermore, it has experienced a continuous downtrend of 13% over the past 30 days. Featured image from Shutterstock, chart from TradingView.com