South Korea’s recent declaration of martial law has ignited significant volatility in the cryptocurrency market, particularly impacting Bitcoin’s value local to the KRW. This unprecedented governmental action comes amid rising
Cardano could be the next to surge after XRP, as the ADA price shows signs of an imminent market recovery . A crypto analyst has projected that the ADA price could experience an epic breakout to $4.88 this bull cycle. The analyst has grounded his bullish prediction on the Cardano price action, providing insights into its potential future movements based on technical analysis and current market conditions. ADA Price Set Sights On $4.88 Alan Santana, a prominent TradingView analyst, has released a report declaring that additional price growth for Cardano is possible in this bull cycle. Sharing a detailed price chart of Cardano’s movements from 2021 to the present and its future price trajectory, the analyst projected a significant rise to $4.88 by 2026. Alan Santana revealed that the ADA price has been in a long consolidation phase for 915 days since May 2022. Surprisingly, the popular altcoin had broken out of this range earlier this month , producing the highest bullish volume ever seen. Cardano’s current market position indicates that it is steadily emerging from a market bottom , a development that often precedes a sustained upward trend. Alan Santana has underscored that Cardano’s recent trend shift is only the beginning, as the cryptocurrency has more room for growth in this bull cycle. Furthermore, the analyst revealed that the primary focus of his technical chart analysis is not to predict a new all-time high or determine how far up Cardano will reach by 2025 . Instead, the analysis aims to highlight Cardano’s short-term price action based on a long-term chart. Looking at his price chart, Alan Santana has pinpointed the 0.8875 Fibonacci level as the main support level for Cardano. This support was initially a resistance level ADA had conquered during last month’s bullish breakout. The analyst underscored that the breakout signified the highest level the ADA price had reached since May 2022. Alan Santana has predicted that if Cardano can break above the main support at 0.8875, the market sentiment will remain “super bullish,” and additional price growth should be expected. On the other hand, if Cardano fails to break the 0.8875 level, it could drop to a secondary support level at 0.6330. If Cardano faces a retracement to 0.6330, the TradingView analyst has emphasized that the cryptocurrency’s overall market structure will still remain strong. These solid fundamentals have prompted the analyst to forecast a major rally to $2 for ADA, if it can maintain a price above the 1.30 Fibonacci level. Will Cardano Mirror XRP Price Surge? Cardano is currently exhibiting potential that mirrors XRP, as the optimism surrounding the ongoing bull market could ignite a price surge for the ADA price . Since the beginning of the year, Cardano’s price has been stuck in a consolidated and declining state. This underperformance led to growing concerns among crypto members, with many labeling ADA a dead coin . However, with new signs of a potential price rally , Cardano could achieve XRP-like gains if market sentiment shifts in its favor. As of this writing, the price of XRP has been trading at $2.6 after surging by more than 428% in the past month.
On Tuesday, bitcoin’s price slipped beneath the $94,000 mark, hitting a low of $93,697. This dip comes amid a wave of significant gains among a variety of altcoins over the past few days. Bitcoin Wavers: Investors Shift Billions to Altcoins as Dominance Drops Below 55% Bitcoin (BTC) has dropped 1.6% against the U.S. dollar over
The US SEC’s lead attorney in the Ripple lawsuit, Jorge G. Tenreiro, has joined the agency as its Chief Litigation Counsel, sparking discussions in the crypto market. This appointment by the SEC indicates that despite optimism over pro-crypto regulation after Donald Trump’s election win, the agency maintains its strict stance toward the digital assets space. Notably, Tenreiro has faced immense criticism from the crypto community for his aggressive stance against the digital assets space. Ripple Lawsuit Lead Attorney Joins US SEC As Chief Litigation Counsel The lead attorney for the US SEC in the Ripple lawsuit, Jorge G. Tenreiro, has joined the agency as its Chief Litigation Counsel, his LinkedIn profile shows. This development has once again fueled speculations in the market, especially after the market expected a dovish stance by the US SEC with Gary Gensler’s resignation announcement. The development was also highlighted by pro-XRP lawyer Bill Morgan, with many criticizing the agency for such a move. In addition, given the aggressive viewpoint of Tenreiro towards the crypto sector, many anticipate the agency to continue with its harsh stance ahead. Source: Bill Morgan, X Meanwhile, last week digital assets enthusiasts were hoping for the crypto cases to drop by the US SEC under Trump’s administration. However, with the latest move to appoint Tenreiro as Chief Litigation Counsel, the agency is likely signaling its commitment towards strict crypto oversight. Notably, previously, Tenreiro has led the Crypto Assets and Cyber Unit. He was also responsible for some of the most crucial cases of the US SEC. Besides, his role in the XRP lawsuit has further highlighted his aggressive enforcement tactics toward the crypto space. What It Means For The Crypto Market? The Ripple lawsuit has recently gained notable traction after the blockchain firm won a court order to speed up the judgment procedure in the XRP case . This has triggered a massive rally in the XRP price , sending it to number three position in the top crypto by market cap list. However, with this recent appointment of Jorge G. Tenreiro by the US SEC, many anticipate a topsy-turvy scenario ahead for the broader crypto market. This promotion would grant him additional authority in the agency, aiding him in handling the upcoming SEC cases. In addition, it also weighed on the investors’ sentiment, dampening hopes over pro-crypto regulations under the Republican administration. Notably, in a recent X post, Ripple CLO Stuart Alderoty urged the market enthusiasts not to “hire any lawyer who was involved in suing any crypto company or project”. Commenting on that, pro-XRP lawyer John Deaton said “the number one lawyer on top of that list is Jorge Tenreiro.” These comments highlight Tenreiro’s reputation among the crypto market experts as well as enthusiasts. Having said that, the market might keep a close track of the future developments of the US SEC amid hopes of a favorable regulatory environment for the digital assets space under the Trump administration. The post Ripple Lawsuit Lead Attorney Joins US SEC As Chief Litigation Counsel appeared first on CoinGape .
Digital asset exchange Coinbase is pushing back against accusations that it isn’t supporting Ethereum’s ( ETH ) scaling roadmap. The top US crypto exchange came under fire online after it announced last week that it wouldn’t support Celo’s ( CELO ) upcoming migration from a standalone layer-1 chain to an Ethereum layer-2. Multiple Celo executives blasted the decision, including Celo Foundation president Rene Reinsberg and Marek Olszewski, the chief executive of Celo developer cLabs, who said Coinbase’s announcement felt “like a wrench in Ethereum’s layer-2-centric scaling roadmap.” Coinbase, however, says it plans to “reevaluate” Celo L2 after the technical migration is complete . “Any accusation that Coinbase does not support the scalability of Ethereum is not true. Coinbase is focused on being a bridge to the cryptoeconomy and we are in support of L1s and L2s.” The exchange says its customers must withdraw any CELO from their accounts by January 13th. The project is scheduled to migrate to a layer-2 solution on January 16th. Celo says the migration will have numerous technical benefits. “Native bridging between Celo and Ethereum, which was previously not possible, will now be a reality. This advancement significantly enhances the security of token transfers by reducing reliance on external bridges, which have often been a point of vulnerability. With native bridging, Celo can offer a more secure and streamlined experience for users, ensuring that transactions within our ecosystem are both safe and reliable.” Celo launched a layer-2 testnet in July. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Coinbase Refutes Accusations of Not Boosting Ethereum Scalability After Declining To Support Celo Migration appeared first on The Daily Hodl .
Namada, a privacy-focused Layer 1 blockchain, has officially launched its mainnet, marking a significant leap in decentralized governance and asset protection. This launch initiates the first phase of a comprehensive
The post Breaking: Bitcoin Crashes to $63,000 On Upbit Exchange appeared first on Coinpedia Fintech News Major crypto tokens quickly plunged as much as 30% against the Korean won on South Korean exchanges as the government declared emergency martial law late on Tuesday. Bitcoin and XRP, two of the most traded tokens by volumes on local exchanges plunged as low as 30% on Upbit before quickly recovering. BTC fell from $96,000 to $63,000 in U.S. dollar terms. This serves as intriguing reminder as to how the isolated fiat liquidity could react, especially under extreme conditions like a president declaring martial law.
President-elect Trump’s pick to replace SEC Chair Gary Gensler may be announced on Wednesday, December 4. Pro-crypto candidates, including Paul Atkins and Dan Gallagher, are leading contenders for the role. The crypto industry expects clearer regulation under the new SEC leadership. Fox Business correspondent Eleanor Terrett reported that President-elect Donald Trump plans to announce his pick to replace Gary Gensler as Chair of the U.S. Securities and Exchange Commission (SEC) tomorrow, December 4, 2024. This announcement is highly anticipated within the crypto community, as Gensler’s tenure at the SEC has been contentious. His approach, often seen as aggressive, has included filing lawsuits against major crypto players. Notably, Gensler announced his resignation last week, which will take effect on January 25. Trump’s pick for the new SEC Chair is closely watched by both financial markets and the crypto community. The move is expected to reshape the regulatory landscape, offering clearer guidelines for the crypto industry. Notably, Trump promised to appoint a pro-crypto SEC chairman. Who Could Be the Next SEC Chair? Several names have been flo… The post SEC Chair Watch: Trump to Name Gensler’s Replacement December 4 appeared first on Coin Edition .
Yield Guild Games founder Gabby Dizon says “conviction” in gaming is more important to him than “chasing narratives”: Hall of Flame
Brian Fanzo of pepecoin.io discusses dank meme enjoyers, the scandal at pump.fun, correlation of AI and crypto, and more in this deep dive into new meme coin metas. You can also listen to our podcast on Apple Podcasts, Spotify, and Deezer.