Plus: Bitcoin cap drama – what did BlackRock just say?
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GM. Welcome to the Daily Squeeze, where we break down cryptocurrency news like a rogue orange: messy, but worth it.
🚀 Deutsche Bank is building a layer 2 blockchain on Ethereum.
🍋 News: Bitcoin supply cap discussions, a partnership between Ethena Labs and World Liberty Financial, and more
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🍍 Taste of the market today
As always, the market feels like an unsupervised group chat with no modifications in sight 🤪
Yesterday, the The US Federal Reserve cut rates by the expected 25 basis points… but also hinted that they would slow the pace next year due to inflation..
At that moment, anything with risqué vibes got a discount, and our old friend bitcoin was no exception: the price fell close to $99,000 before recovering above $100,000. The fear and greed index, which once glowed with extreme vibrations, has stabilized somewhat at 75, although still in “greed” territory.
Meanwhile, Analysts point to massive selling pressure from long-term holders, who dumped 40K BTC yesterday. The good news is that the market is absorbing it. absorbed almost 1 million BTC without missing a beat. Meaning: The Bitcoin train doesn’t look like it’s going to slow down.
Bitfinex analysts are setting your forecast: 2025 fixes? Probably mild. Institutional actors continue to inject capital; just this week, ETFs saw $1.4 billion in inflows. They are calling for a minimum of $145,000 by mid-2025, with a bold goal of BTC reaching $200,000 if the stars align.
In the end, maybe that’s the charm. no rules, no mods, just the beautiful mess we all signed up for 🤷
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🥝 Harvest of memecoins
Not to be flexible, but these memecoins beat your 9 to 5:
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Unicorn fart powder UFD |
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ANDY70B ANDY70B |
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Frodo the virtual samurai FROG |
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dog with apple in mouth APPLE |
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Data at 08:20 am EST.
Check out these memecoins and many more here.
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In the past (🥲), life was about negotiation. Do you want to go out? Come back at 10 pm Do you want some chocolate? Eat your vegetables first. Basically, compromises had to be made to keep everyone happy.
Well, apparently, German Bank – The German banking giant – was taking notes. With his Project Dama 2, he tries to find the same give a little, take a little balance: Gain the freedom of decentralized networks while keeping regulators happy.
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the bank building your own Ethereum L2 blockchain using ZKsync technology, set to (with a little luck) launch in 2025.
This blockchain is designed to use trusted validatorswhich are basically pre-approved entities that are allowed to confirm transactions on the network. Unlike other public blockchains, where anyone can join and validate, this setup ensures that only trusted participants participate.
In addition, regulators will have special supervision, with tools such as super administrator rights to monitor and audit transactions if necessary.
And why does any of that matter? If Deutsche Bank’s experiment works, it could open the doors for more financial bigwigs to build on Ethereum. Translation: more adoption, more use cases, and a stronger Ethereum ecosystem.
So yes, this is a win-win…just like those childish negotiations. 😏
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🍋 News falls
🗣 A BlackRock video revived the old debate about the 21 million Bitcoin limit. They said it is encrypted, but added a disclaimer that it is not 100% guaranteed, which critics call misinformation.
⛓ Dylan Meissner, former vice president of Delphi Digital, was sentenced to 48 months in prison for stealing $4.5 million from the company. He started with a loan of 50 ETH in early 2022 to cover his personal investment losses, but instead of paying back, he helped himself get millions more over the following months.
🤝 Ethena Labs partnered with Trump-backed World Liberty Financial. The plan? Increase liquidity and make stablecoins more useful, starting with Ethena’s synthetic dollar, sUSDe, as the first collateral on its platform.
🚀 Sonic Labs launched its Sonic mainnet – an EVM-compatible L1 blockchain. With 10K TPS, ultra-fast finality, and easy access to Ethereum, it gives developers the tools to build next-generation applications.
☎️ You can now call 1-800-CHATGPT to chat with the OpenAI bot. The first 15 minutes of each month are on the house.
⚖️ A federal judge ruled in favor of Coinbase, refusing to stop the delisting of Wrapped Bitcoin. He said BiT Global’s lawyers were unable to prove any immediate or serious harm.
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🧃 Sip of knowledge
Learn more about dFusion AI with BitDegree’s latest mission. “Knowledge mining with dFusion AI”:
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