From the assessment that Bitcoin could surge to $250,000 by 2025 to the whales DOGE increasing their token accumulation, here are some notable news in the crypto market.
In a recent appearance on CNBC, Tom Lee predicted that the price of Bitcoin could surge to $250,000 by 2025.
Lee believes that investors should consider allocating more Bitcoin in 2025 due to the increasingly friendly regulatory environment.
Additionally, Lee predicted that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, could surge to $6,000.
This analyst believes that a comprehensive altcoin season could occur in 2025, with Solana and some other altcoins likely to perform "extremely well".
Lee has repeatedly predicted that the price of Bitcoin will reach $150,000 by 2024.
So far, the top cryptocurrency has reached a peak of $108,135 and it seems highly unlikely to achieve Lee's target this year.
The leading asset is currently trading around $98,148 after recovering close to the $100,000 mark on Christmas Eve.
In November, Lee said that Bitcoin could be considered a reserve asset by the United States, helping to offset the government's deficit. According to Lee, $250,000 would be the best-case scenario for a typical halving cycle.
However, if the U.S. government accepts Bitcoin as a reserve asset for the Treasury, the asset could grow even more strongly.
Bitcoin ETFs see $338 million outflow on Christmas Eve
The U.S. spot Bitcoin ETFs faced four consecutive days of outflows, culminating in a large outflow on Christmas Eve.
Data from SoSovalue on December 24 showed that the ETFs saw a combined outflow of $338.4 million the previous day.
The iShares Bitcoin ETF of BlackRock led the pack, with the largest single-day outflow of $188.7 million. Fidelity's Bitcoin ETF followed with $83 million, while the Ark Bitcoin ETF and 21Shares Bitcoin ETF recorded a net outflow of $75 million.
Bitwise's BITB was the only ETF to record a net inflow, adding $8.5 million. The remaining funds had no activity for the day.
Over the past four trading days, Bitcoin ETFs have seen cumulative outflows of over $1.5 billion, a sharp decline since the November election that brought Donald Trump back to the White House.
Despite the current trend, the ETFs have accumulated $35.49 billion in inflows and hold $110 billion in digital assets.
Ripple's stablecoin RLUSD officially launched on the first licensed crypto exchange in Singapore, Independent Reserve (IR), on December 22, 2024, with trading pairs against the Singapore dollar (SGD) and the U.S. dollar (USD).
This launch highlights Singapore's role as a hub for crypto innovation and regulation.
Independent Reserve announced that users can trade RLUSD on its order book and OTC. This is the first time a Singapore-based exchange has listed a Ripple stablecoin.
RLUSD provides seamless interoperability with the XRP Ledger and Ethereum networks, enabling use in the decentralized finance (DeFi) space and cross-border payments.
Lasanka Perera, the CEO of Independent Reserve Singapore, noted that RLUSD enhances global liquidity by providing a secure and efficient solution for financial institutions and investors. Ripple's decision to partner with IR reflects the mutual trust between the two entities.
After a minor pullback, SHIB surged to $0.0000335 on December 8, the highest level since March this year.
However, SHIB not only failed to sustain the uptrend and set a new ATH, but also began a steep decline in the following weeks. The most significant drop occurred after the latest U.S. FOMC meeting, pulling SHIB down to $0.0000185, a 44% loss in less than two weeks.
The asset has since recovered and is currently trading around $0.000023. Furthermore, data from analyst Ali Martinez shows that SHIB is flashing a buy signal at the moment.
The trader has outlined a potential recovery to $0.000029, corresponding to a 55% increase from the December 8 low.
Martinez has relied on the TD Sequential, an indicator used to identify market exhaustion in both directions. Recently, a similar signal has outlined local bottoms for DOGE and BTC. Since those buy signals, Bitcoin has gained over 3%, while DOGE has surged 6% in just a few days.
SHIB Metaverse updates after a long silence
Lucie, the head of marketing for the Shiba Inu development team, posted a tweet dedicated to the SHIB Metaverse, a project that has been in development for two years but without any updates for a long time.
Lucie's post discusses the metaverse project that the SHIB development team is working on. She reminds the community that the metaverse will be supported by the Shibarium layer 2 solution and that it will not only be a digital space for the global SHIB community, but a "platform for creativity, connection, and ownership".
According to Lucie, within the metaverse, anyone can claim their own digital land recorded on the blockchain: "Owning, trading, and developing virtual real estate".
The metaverse will allow for the creation of customized avatars "with personalized options, reflecting the style and vision of each user".
Shibarium, the layer-2 blockchain solution for Shiba Inu (SHIB), has reached a significant milestone.
On Christmas Day, the total number of transactions executed using the Shibarium protocol surpassed 700 million transactions.
According to Shibariumscan, the current total number of transactions recorded is 702,733,352. The protocol has an average daily transaction volume of 4.51 million from 2,021,944 wallet addresses on the blockchain.
This is a notable milestone for Shibarium, as the official ecosystem launched in August 2023. Achieving this level of transaction volume in less than 18 months demonstrates the strong user participation from the community.
Other notable developments on the protocol include the launch of a new user interface to improve compatibility with popular self-custody wallets like Coinbase Wallet, Trust Wallet, and MetaMask.
According to analyst Ali, whales have bought 270 million Dogecoin (DOGE) worth approximately $89.64 million in the past 96 hours, sparking speculation about what might be happening.
Such accumulation is often seen during consolidation or price decline phases, when large holders or whales take advantage of lower prices to increase their positions. DOGE is currently consolidating after a major sell-off in the market, which had pushed its price down to $0.261 on December 20.
This trend in Dogecoin may suggest that whales are anticipating a potential price increase or new developments within the Dogecoin ecosystem.
The price of PENGU has increased by nearly 40% in the past 24 hours, reaching a daily high of $0.03929.
On the 4-hour chart, PENGU is forming an ascending triangle pattern, which often signals a potential breakout in the upward direction if the resistance level is breached.
Both the RSI and CMF are aligned with the breakout scenario. The RSI at 64 indicates increasing bullish momentum, but it has not yet entered the overbought zone (>70). This suggests that PENGU may continue its price increase. The CMF at 0.27 shows significant buying pressure.
If the current uptrend continues, PENGU may break above the recent resistance around $0.039 and target new highs at $0.044, or even $0.052, representing an increase of around 20%.
Sustained bullish momentum could push PENGU towards its ATH of $0.057, with $0.071 and $0.098 as the next resistance levels. However, if the price faces rejection, this altcoin may retrace back to the $0.03 region.
The 0G Labs (0G) AI Alignment Node Sale claim NFT website has gone live.
Previously, 0G Labs raised over $29.7 million through the sale of AI Alignment Nodes, with 83,000 nodes sold. Up to 15% of the total 0G ecosystem supply is allocated to node holders to build and maintain the ecosystem. 33% of the tokens can be claimed at the TGE, followed by a linear unlock schedule over 36 months. The TGE is expected to occur in Q1 2025.
0G Labs is the first decentralized AI operating system serving as a foundational layer for decentralized applications and AI chains. The system has raised $75 million across two funding rounds, supported by Hack VC, OKX Ventures, GSR, Animoca Brands, Arca, NGC Ventures, Delphi Digital, Samsung Next, DWF Labs, and others.
Mintlayer (ML) has published a recap of the project's development progress in 2024.
Key milestones achieved include the mainnet launch, the development of atomic swaps, community growth and improvements, pioneering the ZK Thunder network, native BTC cross-chain swaps, and Pulsar consensus.
Mintlayer is a Bitcoin Layer-2 for digital assets, built to maximize interoperability with the Bitcoin blockchain. In 2021, the company launched a seed funding round supported by x21 Digital, ExNetwork Capital, Moonwhale Ventures, and others.
The current price of ML is $0.10, with a fully diluted market capitalization of $43.5 million.
The Push Protocol (PUSH) DAO announced that the governance proposal for the Push Chain has been successfully passed.
Recently, Push Protocol introduced Push Chain, a Layer-1 blockchain focused on chain abstraction and building cross-chain accessible Web3 applications.
The initial testnet for Push Chain will be released in phases, with the first testnet launching in mid-2025 and the mainnet scheduled for the end of the year.
Push is a web3 communications network, enabling cross-chain notifications, messaging, and various features for applications, wallets, and services. Previously, the network raised $12 million in funding rounds supported by Binance Labs, Jump Crypto, ParaFi Capital, Wintermute, and others.
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Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making any investment decisions. We are not responsible for your investment decisions.
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