š¤ Trump’s SEC election: cryptocurrencies’ new best friend?
Also: RLUSD and the bullish case for XRP
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GM. Sit at the Daily Squeeze Bar ā we serve blockchain juice with a side of market-fresh mangoes.
š„³ Donald Trump names Paul Atkins president of the SEC.
šµ Ripple is expected to launch its RLUSD stablecoin today.
š News drop: Enron’s fake comeback, MARA buys wind energy facility + more
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š Taste of the market today
Don’t touch the screen when viewing today’s charts. The market is electric, it could surprise you. ā”ļø The fear and greed index remains stable at 78 on “Greed”, and Bitcoin has been consistently trading between $94,000 and $97,000. Yesterday it fell below $94,000 due to some chaos in South Korea (catch up here), but it has returned to its course.
Crypto Dan at CryptoQuant points to a golden cross on SOPR Ratio indicator – a rare occurrence that has only appeared twice in this bull run. This crossover is an important bullish signal and generally predicts sharp market movements within 1 to 2 months. If history repeats itself, we could see a major Bitcoin breakout before the end of 2024 or early next year.
Now, while Bitcoin is still hovering around $100,000, altcoins are gaining major momentum.
solarium: Driven by speculation that SOL ETFs could be approved under the Trump administration.
– Up 2% this week and 46% this month;
– Reached an all-time high on November 23.
BNB– Rising after a golden cross signaled further upside potential.
– Up to 20% today and 26% this week;
– Reached a new all-time high today.
Dogecoinā Driven by Elon Musk’s involvement in the Department of Government Efficiency (DOGE).
– Up 0.44% today and 6.98% this week;
– Return to levels not seen since 2021.
tron: possibly increasing due to recent banana trick and investment in Trump’s crypto project.
– Up to 70% today and 98% this week;
– Reached a new all-time high today.
The conclusion: the energy is high voltage, the vibrations are charged and those candles? They are shining brighter than ever: they could light up your entire day š„
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š„ And the winner isā¦
When Donald Trump was looking for votes, he made a promise that he made all the crypto bros shed a tear: Fire SEC Chairman Gary Gensler.
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Oh, our boy Gary š The “everything is a security when you think about it” boy. While it made life for crypto companies a legal hell, it kept journalists busy with endless content. (thanks for that, I guess… but also screw you).
Well, in the end, Trump didn’t even need to keep his big promise because Gary packed his bags and resigned on his own. Naturally, the next question was: who’s next?
The speculation was wild, but the suspense is over: Trump officially down the name: Paul Atkins.
And who is this boy?
– He was president of the SEC during the Bush administration.;
– He is the CEO and founder of Patomak Global Partners, a risk management consulting firm that works with several crypto exchanges and DeFi platforms.;
– Co-chairs Token Alliance of the Digital Chamber, an advocacy group that promotes digital assets and blockchain.
ā¦ simply beautiful š„¹ And I don’t know if that’s the sound of my heart pounding or all the bulls charging, but I’m here for it.
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āØ The shine of Ripple
Ripple is having a damn time these days. XRP has been pumping like crazy: It is reaching numbers that we have not seen since 2018 and has established itself as the number 3 cryptocurrency by market capitalization. (reason? The details are here).
And for those of you XRP fans who have been the butt of the joke for years – you guys could have one more”I told you” moment soon.
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RLUSD, Ripple’s Dollar-Pegged Stablecoin, Expected to Launch Today.
Yes, at any time. And why is that so important to XRP? Max Avery has the teaand we are here to serve you:
– Simple equation: RLUSD transactions = plus XRPL activity = more XRP used for fees/bridges = š
– The XRP Killer in Cross-Currency Transfers and the Growing Adoption of RLUSD increase your usefulness;
– RLUSD brings liquidity to XRPL ā traders and institutions want enter the chat ā them use XRP for fees (basically we get a cycle that feeds on itself);
– RLUSD could integrate with dApps on XRPL, which would be powered by XRP = more use cases;
– Adoption of RLUSD shows the strength of XRPLwhich could attract speculators and deep-pocketed players to the blockchain.
Yeah, so confetti ready? Maybe you need it, because this could be huge.
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š News drops
š¤ Some pranksters made it seem like Enron, the company that went bankrupt 20 years ago, was making a comeback. To make matters worse, they hinted at a symbolic release as part of this fake revival.
ā»ļø Crypto miner MARA purchased a wind energy facility in Texas. Instead of scrapping or selling old hardware, they are giving it a second life on the new site, reducing BTC production costs and keeping it sustainable.
š³ Virgin Voyages is now the first cruise line to accept Bitcoin. For $120,000, you get an Annual Pass with unlimited cruises, a private Sea Terrace cabin, laundry service, Wi-Fi, and a $100 bar tab on each voyage.
šø Roger See, also known as Bitcoin Jesus, is pushing for the tax evasion charges against him to be dropped. He says the case goes against his constitutional rights.
š¤„ Alex Mashinsky, former CEO of Celsius, reached a deal with federal prosecutors. He is confessing to two charges: lying about not getting rid of his CEL tokens and making false claims that Celsius Earn was approved by the regulator.
š«š· French lawmakers are considering imposing a tax on unrealized crypto profits. They want to lump cryptocurrencies in with things like empty houses and yachts. Basically, things that just sit there..
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š Juicy memes
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