From the assessment that US investors are driving the rise of Bitcoin to the launch of the USDD 2.0 Beta version of the USDD stablecoin, here are some notable news in the crypto market.
Bitcoin (BTC) has once again reached the $100,000 mark, a strong recovery that has rekindled interest in this coin.
The sudden increase in buying activity was partly driven by the approval of spot Bitcoin ETFs, which not only legalized Bitcoin in the eyes of institutional investors but also amplified the bullish sentiment among retail investors.
Along with these developments, key indicators such as the Coinbase Premium and the large outflows of Bitcoin from exchanges signal the dominance of US market participants.
The Coinbase Premium, which has recently turned positive, highlights the important role of US investors in driving the rise of Bitcoin.
The positive CPI reflects the high demand for Bitcoin on US-based exchanges like Coinbase compared to global exchanges, indicating stronger buying pressure from US market participants.
This shift occurred after the launch of spot Bitcoin ETFs, amplifying the enthusiasm of institutional and retail investors.
As Bitcoin surges past $100,000, US investors appear to be leading the charge, capitalizing on their confidence in the long-term potential of the asset.
As Bitcoin consolidates above $100,000, the next move will depend on whether the leading asset can break through the crucial resistance level of around $105,000.
The current RSI indicates moderate upward momentum, with the potential for further growth before entering overbought territory.
Meanwhile, the OBV shows ongoing accumulation, driven by the interest of institutional investors and declining foreign exchange reserves.
A decisive breakout above $105,000 could target $120,000 for BTC, supported by psychological factors. However, failure to maintain the current level could lead to a retest of the $95,000 support zone.
With the potential for significant volatility, investors should closely monitor whale activity and macroeconomic signals to chart a clear path forward.
Binance recently launched a new feature called Binance Alpha, providing information on notable projects with the potential for future listings.
On January 7, 2025, Binance Alpha announced an additional list of 3 promising projects: HAT, AIXCB, and NEUR, opening up early access opportunities to projects within the crypto ecosystem.
Currently, a total of 52 projects have been included in the Binance Alpha list, including: KOMA, Cheems, APX, ai16z, AIXBT, FartCoin, CKP, GEAR, SD, SYRUP, BANANA, KOGE, BOB, MGP, PSTAKE, GNON, Shoggoth, LUCE, ODOS, ZEREBRO, COOKIE, WHALES, ORDER, EVAN, BITCOIN, VISTA, AVAAI, AITECH, arc, WHY, APU, HAPPY, FWOG, COCO, MIRA, SKI, ALCH, vvaifu, DegenAI, TAOCAT, Swarms, METAV, ELIZA, FLOCK, FREYA, OPUX, and pinpin.
In the past 24 hours, the meme coin Shiba Inu (SHIB) has experienced a sudden surge in trading volume on Coinbase.
According to data from Coinglass, the spot trading volume of SHIB on the Coinbase exchange has skyrocketed by 1,711%, raising questions about the reasons behind this unexpected spike.
The SHIB/USD trading pair on Coinbase has attracted $13.12 million in trading volume over the past 24 hours.
Despite the dramatic increase in trading volume, the price of SHIB has remained relatively stable at around $0.000024 over the past 24 hours.
After a four-day price rally since December 31, reaching a peak of $0.0000249 on January 4, SHIB has retreated. The price has just started to recover in Monday's trading session, although it remains within a narrow range as it awaits the next significant move.
Some analysts believe that the sustained high trading volume could translate into price momentum, especially if the broader market continues to strengthen, but this has not yet materialized at the moment.
Overcoming key resistance levels will be crucial for SHIB to initiate a new phase of price appreciation. If the token can break above the 50-day SMA at $0.0000255 and then $0.00003, SHIB's price could continue to rise further.
On the other hand, the immediate support level is around $0.0000234, with the main support zones at $0.00002 and $0.0000188, coinciding with the 200-day SMA.
HashKey Europe, a subsidiary of the Hong Kong-based HashKey exchange, has received a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland.
On January 7, the HashKey Group announced its market expansion through the VASP registration approval from the Central Bank of Ireland.
All crypto service providers in Ireland are required to register with the central bank for Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) measures under the European Union's Fifth Anti-Money Laundering Directive (AMLD5).
Holders of Reddit Collectible Avatars NFTs are expressing concerns about the future of the offering after the project lead confirmed her departure from the company.
"My role at Reddit has come to an end. While I'm saddened by this, I'm incredibly proud of the work I've done during my time at the company," Bianca Wyler, the head of Reddit's Collectible Avatars, wrote on LinkedIn on January 6.
Some Redditors noted that recent comments from Wyler's Reddit account have been deleted, and others expressed concerns that her departure could be a sign that the social media platform may eventually discontinue the Avatars.
Reddit Collectible Avatars (RCA) are millions of unique NFTs on the Polygon blockchain, primarily depicting Reddit's alien mascots. Users of the website can add these avatars to their profiles, along with special privileges such as "enhanced comment handling" on the platform.
RCA was launched in July 2022 and is considered a limited edition work of art, created through collaboration with independent creators. Dune Analytics data shows that there are currently over 33.5 million holders of this NFT.
The decentralized stablecoin project USDD on the TRON blockchain has recently launched its latest version, called USDD 2.0 Beta.
According to the project, this version marks an important step in the project's development, focusing on improving the management mechanism of collateral assets and the method of attracting liquidity. These improvements aim to provide a smoother experience for users when accessing liquidity, while optimizing the efficiency of collateral asset management in the system.
In addition, the USDD development team has launched a testing program with a total reward of up to 400,000 JST to encourage user participation.
This program includes activities such as minting and redemption of USDD, testing of liquidation and auctions, as well as a bug bounty program to improve and refine the protocol.
Injective (INJ) has extended its daily gains for the seventh consecutive day, trading above $26 after rising more than 25% last week.
The announcement of the INJ 3.0 upgrade on Sunday, focusing on a significant reduction in token supply, may be a driving force behind the ongoing price increase. Furthermore, INJ's on-chain metrics are supporting the bullish outlook as its Total Value Locked (TVL) and Open Interest (OI) are increasing.
INJ has broken above the daily resistance level at $23.46, closing above the 50-day EMA around $24.41 on Sunday and gaining 10% on Monday. Currently, INJ is trading just above the $26 mark.
If the uptrend continues, INJ may test the next daily resistance level around $31.12, marking an additional 18% increase from the current price.
The Relative Strength Index (RSI) on the daily chart is at 58, above the neutral level of 50, indicating a bullish momentum. Additionally, the MACD crossover on Friday signaled a continuation of the uptrend.
WLD, the native token of Worldcoin, appears to be preparing for a price dump due to an expected token unlock from January 5 to January 12, with 37.23 million WLD tokens worth nearly $90.09 million.
According to technical analysis, WLD seems to be facing horizontal resistance at $2.55 and the 200-day EMA. However, the price is struggling to break above this barrier to continue the uptrend.
Based on the recent price action, if WLD breaks out of the resistance and closes a daily candle above $2.7, it is highly likely that the price will surge by 60% to reach $4.22 in the future.
At the current time, the Relative Strength Index (RSI) of WLD is significantly lower than the overbought region, indicating that the token has the potential for further short-term price appreciation.
Plume Network has announced the Plume Goons Circle, a content creation program.
Users can participate to earn rewards by creating content about Plume (memes, videos, blogs) on social media. To join the program, users must fill out a form and have at least 50 followers on their social media account.
Previously, Plume Network introduced the $25 million RWAfi Fund, supported by Galaxy Digital, Superscrypt, and other companies.
Plume is the first chain to be fully integrated and modular, focusing on RWAfi, designed specifically for RWA projects, protocols, and capital providers.
The company has raised $30 million in two funding rounds, supported by Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, and Reciprocal Ventures.
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Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making investment decisions. We are not responsible for your investment decisions.
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