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While New Year’s Eve is just around the corner, excitement is also growing in the crypto currency industry, as witnessed in the sector’s representative asset, Bitcoin (BTC), racing above the $43,000 price threshold and most other crypto currencies following its cue. With this in mind, Finbold has analyzed the crypto sphere to arrive at several digital currencies that might be a great buy this New Year’s if investors are inclined to spend their money not just on champagne and fireworks but also on crypto assets with great potential. #1 Shiba Inu (SHIB) As it happens, Shiba Inu (SHIB) has recently made a breakout, becoming another major ‘dog coin’ to join the wider crypto rally, according to the Analysis by Jake Wujastyk, accompanied by a significant spike in trading volume in recent days, as Finbold reported on December 6. SHIB price action analysis. Source: Jake Wujastyk Meanwhile, Shiba Inu was at press time changing hands at the price of $0.00000958, recording a decline of 3...

Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely to attract buyers as the bulls will want to maintain the momentum going into the final month of the year. The bears are likely to have other plans as they will attempt to deepen the correction. That could boost volatility in the last few days of November as both the bulls and the bears try for a monthly closing in their favor. Daily cryptocurrency market performance. Source: Coin360 While near-term uncertainty remains, Rich Dad Poor Dad author Robert Kiyosaki reiterated his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twit...

Bitcoin is facing resistance at $38,000, but UNI, IMX, VET and ALGO may extend their up-move in the short term. Bitcoin (BTC) rose above $38,000 on Nov. 24, but the bulls could not build upon this strength. This suggests hesitation to buy at higher levels. Bitcoin is on track to form a Doji candlestick pattern on the weekly chart for the second consecutive week. This signals indecision among the bulls and the bears about the next directional move. With Bitcoin maintaining near its 18-month high, BitMEX co-founder Arthur Hayes retained his bullish stance. In a X (formerly Twitter) post, Hayes said that the United States dollar liquidity was increasing, which is likely to push Bitcoin higher. Crypto market data daily view. Source: Coin360 Another bullish projection came from PlanB, creator of the stock-to-flow family of BTC price models, who said in a post on X that Bitcoin may not stay at the current levels for long. PlanB expects Bitcoin to maintain an average price of at least $100,...

Gas fees on the Polygon network reached as high as $0.10 during a mad rush to mint an Ordinals-inspired token called POLS. Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired token s dubbed POLS.  In a Nov. 16 X (formerly Twitter) post Polygon founder Sandeep Nailwal shared his surprise at the elevated transaction activity on the network saying the spike could’ve been due to the launch of a new Polygon-based nonfungible token (NFT) collection. What is going on on @0xPolygon POS chain? 6m transactions in last 24 hrs. 170 TPS on average. 1mn+ MATIC burnt by the protocol. The chain worked smoothly, gas fees went crazy though but no reorgs or 0 blocks etc. I hear there is some game Baby Shark Launching, could that be the… — Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) November 16, 2023 The reason for the uptick in network activity and sudden spike in gas fees seems ...

Over 81,000 wallet addresses now hold $1 million or more worth of Bitcoin. The number of crypto wallet addresses holding more than $1 million in Bitcoin (BTC) has more than tripled this year.  BitInfoCharts data shows the number of addresses with more than $1 million in BTC increased from 23,795 on Jan. 1 to 81,925 currently, a 237% increase in the last 11 months. Currently, 81,925 wallet addresses hold more than $1 million in BTC. Source: BitInfoCharts The million aire wallet s are not one-to-one with individual users as many addresses with more than $1 million BTC belong to crypto exchanges and financial institutions. Comparative data from Glassnode shows the number of addresses holding more than $1 million in Bitcoin peaked during the top of the last bull market in November 2021, posting a record 112,573 addresses on Nov. 9, 2021, the day before Bitcoin notched its all-time high of $69,000 on Nov. 10, 2021. The number of “millionaire” Bitcoin wallets has grown more than 237% fr...

Deaton strongly refuted the idea that the lawsuit’s result was an even 50-50 outcome for the SEC, asserting that it leaned closer to a 90-10 advantage in favor of Ripple. Prominent cryptocurrency attorney John E. Deaton has offered insights into the Ripple Labs XRP lawsuit against the Securities and Exchange Commission (SEC). He contends that a settlement valued at $20 million or less would constitute a significant legal triumph for the company. In a recent X social media post, Deaton strongly refuted the idea that the lawsuit’s result was an even 50-50 outcome for the SEC, asserting that it leaned closer to a 90-10 advantage in favor of Ripple. Deaton’s remarks were prompted by a post from Stuart Alderoty, Ripple’s Chief Legal Officer, highlighting another legal setback for the SEC. Deaton’s viewpoint resonates with the sentiment in the cryptocurrency community, which generally views the suggested $20 million settlement as a positive resolution for Ripple. This assessment considers...

Roman Storm’s lawyer Brian Klein said the developer was released on bail on Aug. 24, the day after the U.S. DOJ announced the charges related to money-laundering and other alleged violations. Roman Storm, the co-founder of the cryptocurrency mixing service Tornado Cash who was arrested on money-laundering and other charges on Aug. 23,  was released on bail soon after he was detained by the United States’ Department of Justice (DOJ), his lawyer said. Storm’s lawyer Brian Klein took to X (formerly Twitter) on Aug. 24 to announce that Storm has been released on bail. Klein noted that he still remains “very disappointed” about the fact that the prosecutors charged the develop er just because he helped to develop software. He added: “Their novel legal theory has dangerous implications for all software developers.” The bail came the next day after the U.S. DOJ announced the arrest of Storm alongside the charges against Tornado Cash founders, Storm and Roman Semenov, on Aug. 23. The U.S. ...

PayPal’s stablecoin announcement and a handful of Ether ETF applications are bulls’ biggest hopes for a price trend reversal. Ether (ETH) price has been locked within a tight trading range spanning from $1,800 to $1,900 since July 21. This remarkable lack of volatility has instilled a sense of uncertainty and skepticism among investors, despite recent positive developments which include the launch of PayPal's Ethereum-based stablecoin, and a surge in requests for Ether-based exchange-traded funds (ETFs). PayPal's entrance into the world of cryptocurrencies could signify a major step toward mainstream adoption for Ethereum. However, this move also raises concerns about centralization and the potential loss of control over personal assets. At the same time, the United States Securities and Exchange Commission (SEC) has recently witnessed a surge in applications for Ether exchange-traded funds (ETFs), which mirrors a trend of major asset management firms seeking to establish spo...

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing. A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.  Another bullish catalyst for the cryptocurrency markets could be a filing by asset manager Fidelity Investments to launch its Bitcoin spot ETF. CoinShares Chief Strategy Officer Meltem Demirors said that firms managing $27 trillion of assets are “actively” pursuing efforts to allow their clients exposure in the crypto space. Daily cryptocurrency market performance. Source: Coin360 Most of the focus in recent days has been on institutional money but the retail trader’s power should not be underestimated....