🤞 Trump’s SEC choose: crypto’s new bestie?
Plus: RLUSD and the bull case for XRP
GM. Pull up a chair on the Each day Squeeze bar – we’re serving blockchain juice with a aspect of recent market mangoes.
🥳 Donald Trump appoints Paul Atkins as SEC Chair.
💵 Ripple’s anticipated to launch its RLUSD stablecoin at present.
🍋 Information drops: Enron’s faux comeback, MARA shopping for a wind power facility + extra
🍍 Market taste at present
Do not contact your display screen when checking the charts at present – the market’s electrical, would possibly shock ya ⚡️ The Worry and Greed Index holds regular at 78 in “Greed,” and Bitcoin’s been persistently buying and selling between $94K and $97K. It did slip beneath $94K yesterday on account of some chaos in South Korea (catch up right here), however it’s again on target.
Crypto Dan on CryptoQuant is pointing to a golden cross within the SOPR Ratio indicator – a uncommon occasion that has appeared solely twice on this bull run. This cross is a significant bullish flag, usually predicting sharp market strikes inside 1-2 months. If historical past repeats itself, we may see a critical Bitcoin breakout earlier than 2024 wraps up or early subsequent yr.
Now, whereas Bitcoin’s nonetheless teasing $100K, altcoins are catching some critical momentum.
Solana: boosted by hypothesis that SOL ETFs would possibly get accredited below Trump’s administration.
– Up by 2% this week and 46% this month;
– Reached an all-time excessive on November 23.
BNB: climbing after a golden cross signaled additional upward potential.
– Up by 20% at present and 26% this week;
– Hit a brand new all-time excessive at present.
Dogecoin: fueled by Elon Musk’s involvement in Division of Authorities Effectivity (DOGE).
– Up by 0.44% at present and 6.98% this week;
– Again to ranges not seen since 2021.
Tron: probably rising on account of Justin Solar’s latest banana stunt and funding in Trump’s crypto venture.
– Up by 70% at present and 98% this week;
– Reached a brand new all-time excessive at present.
The takeaway: power’s high-voltage, vibes are charged, and people candles? They’re burning brighter than ever – would possibly mild up your entire day 🔥
🥁 And the winner is…
Again when Donald Trump was rallying for votes, he made one promise that made all crypto bros shed a tear: firing SEC Chair Gary Gensler.
Ah, our boy Gary 😃 The “all the things’s a safety when you concentrate on it” man. Whereas he made the lifetime of crypto corporations a authorized hell, he did hold reporters busy with infinite content material (thanks for that, I suppose… but additionally screw you).
Effectively, ultimately, Trump did not even must observe via on his massive promise as a result of Gary packed his baggage and resigned on his personal. Naturally, the subsequent query was: who’s subsequent?
Hypothesis was wild, however the suspense is over – Trump formally dropped the title: Paul Atkins.
And who’s this man?
– He was SEC Chair below Bush;
– Is the CEO & founding father of Patomak World Companions, a threat administration consulting agency that works with a number of crypto exchanges and DeFi platforms;
– Co-chairs the Digital Chamber’s Token Alliance, an advocacy group that promotes digital property and blockchain.
… merely lovely 🥹 And idk if that is the sound of my coronary heart pounding or all of the bulls charging in, however I am right here for it.
✨ Ripple’s glow-up
Ripple’s having a helluva time lately. XRP’s been pumping like loopy: it is hitting numbers we’ve not seen since 2018 and locked itself in because the #3 crypto by market cap (purpose? The deets are right here).
And for these of you XRP followers who’ve been the butt of the joke for years now – y’all might need another “informed you so” second quickly.
RLUSD, Ripple’s dollar-pegged stablecoin, is predicted to launch at present.
Sure, like, any second now. And why’s {that a} massive deal for XRP? Max Avery’s obtained the tea, and we’re right here to serve it for ya:
– Easy equation: RLUSD transactions = extra XRPL exercise = extra XRP used for charges/bridges = 🚀
– XRP’s killer at cross-currency transfers, and rising RLUSD adoption would increase its utility;
– RLUSD brings liquidity to XRPL → merchants and establishments wanna enter the chat → they use XRP for charges (principally, we get a cycle that feeds itself);
– RLUSD may combine with dApps on XRPL, which might be powered by XRP = extra use instances;
– RLUSD adoption reveals XRPL’s energy, which may attract speculators and big-money gamers into the blockchain.
Yeah, so, confetti prepared? You would possibly want it – ‘trigger this may very well be large.
🍋 Information drops
🤭 Some pranksters made it appear to be Enron – the corporate that crashed 20 years in the past – is making a comeback. To high it off, they hinted at a token launch as a part of this faux revival.
♻️ Crypto miner MARA purchased a wind power facility in Texas. As a substitute of discarding or promoting off previous {hardware}, they’re giving it a second life on the new web site – slicing BTC manufacturing prices whereas retaining it sustainable.
🛳 Virgin Voyages is now the primary cruise line to simply accept Bitcoin. For $120K, you get an Annual Go with limitless cruises, a non-public Sea Terrace cabin, laundry service, Wi-Fi, and a $100 bar tab on each journey.
💸 Roger Ver, aka Bitcoin Jesus, is pushing to get tax evasion expenses in opposition to him dropped. He says the case goes in opposition to his constitutional rights.
🤥 Alex Mashinsky, the ex-CEO of Celsius, reached a plea cope with federal prosecutors. He is fessing as much as two expenses: mendacity about not dumping his CEL tokens and making false claims that Celsius Earn was regulator-approved.
🇫🇷 French lawmakers are contemplating a tax on unrealized crypto features. They wanna group crypto with issues like empty homes and yachts – principally, stuff that simply sits there.
🍌 Juicy memes
