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COPA Vs. Wright Saga Continues: Self-Proclaimed Bitcoin Inventor Skips Contempt Case Hearing
Online reports revealed Craig Wright skipped his UK court hearing today due to an alleged lack of resources to travel. The Australian computer scientist is facing a contempt of court case over his lawsuit against Bitcoin Core developers and could receive a prison sentence if the claim is proved.
COPA Vs. Wright Saga ContinuesOn Wednesday, Australian Computer scientist and self-proclaimed Bitcoin inventor Craig Wright was expected to appear at the London Royal Court of Justice to attend the hearing regarding the contempt of court case against him.
The hearing attendants reported that Wright didn’t appear in court “due to lack of means for travel.” According to the hearing transcription shared by BitMEX Research, the self-proclaimed Satoshi Nakamoto informed the participants via email he would not be attending.
In October, the Cryptocurrency Open Patent Alliance (COPA) filed a contempt application form in response to Wright’s $1.2 billion lawsuit against Bitcoin Core Developers and Jack Dorsey’s Square Up European Ltd.
In the contempt application, COPA argued that the computer scientist had breached the injunction resulting from the main Bitcoin Authorship case. The injunction ordered Wright to admit he was not Satoshi Nakamoto and cease any further legal action related to the disproved authorship claims.
In an early November court hearing, the fake Satoshi denied COPA’s accusations, arguing that his latest legal battle was “fundamentally different” from an identity claim as it was based on his “contributions to the development, maintenance, and extension of the Bitcoin Blockchain.”
Based on this, Wright, representing himself in the lawsuit, asserted not to be in contempt but added that he was willing to amend his case if the court found him to be breaching the court’s injunction.
For context, the self-proclaimed Bitcoin author claimed in the lawsuit that Bitcoin Core developers and all affiliated parties have misrepresented BTC as the original Bitcoin, adding that Bitcoin SV (BSV) is the real version.
Judge Mellor halted Wright’s lawsuit while the Contempt case was resolved, scheduling the hearing for December 18. During the hearing, the parties discussed that Wright’s in-person assistance was required, as he attended the initial hearing via video call from Singapore.
In a subsequent hearing, the court ordered Wright to return to the UK for today’s hearing.
COPA Asks For 2-Year Sentence Over Bitcoin Core CaseCOPA’s legal representative, Jonathan Hough, revealed that the non-profit organization offered to pay his travel expenses. Seemingly, Wright refused the offer, stating it “would not cover his business losses.”
“This is the first time that CSW has said he does not have the means to travel. He has covered cost orders of around £10m earlier this year, therefore this latest excuse deserves a large amount of skepticism,” Hough stated.
The email exchange continued, with the Australian computer scientist stating that he would need £240,000 to cover the travel expenses and the business losses:
It comes in at £240,000. Due to the actions by COPA, I am not able to operate as expected. However, even with this funding I would not be in a position to function adequately, nor could I feasibly travel to complete such obligations.
It’s worth noting that Hough requested “a sentence of 2 years and a following term of 6 months if CSW does not withdraw the new claim,” noting that Wright is “staying out of jurisdiction to avoid consequences.”
After Wright’s confirmed absence, British High Court Judge James Mellor decided to continue the hearing and hand down a judgment on Thursday, December 19 at 2 pm UK time. The judge asked COPA’s legal representative to invite Wright to the sentencing before ending the session.
Австралийский регулятор подал в суд на биржу Binance
Dogecoin Sentiment Drops Into Negative Once Again, Is It Time To Buy Or Sell?
According to new reports, Dogecoin’s market sentiment has plummeted significantly, turning negative once again as its price consolidates. This bearish trend raises the question of whether it is time for investors to buy or sell off their DOGE tokens to avoid future losses.
Dogecoin Market Sentiment DwindlesOn Tuesday, crypto analyst Ali Martinez announced on X (formerly Twitter) that Dogecoin’s market sentiment has turned negative, signaling a shift in investor confidence in the meme coin.
Martinez shared a price chart highlighting two key metrics suggesting that DOGE’s market sentiment is drastically reducing. The first metric, indicated by the blue bars as social volume, represents the number of social media mentions around Dogecoin.
As a meme coin, social sentiment plays a crucial role in DOGE’s price trajectory. Increases in social volume typically suggest increased interest or hype in a cryptocurrency, which ultimately fuels demand and increased adoption.
The second metric, shown by the red bars on the chart, reflects Dogecoin’s weighted sentiment. This metric tracks the overall positive and negative sentiment surrounding DOGE on social media. When the weighted sentiment falls below the zero line into the negative territory, it signals that investors and traders are adopting a pessimistic outlook on the cryptocurrency.
In the chart, the weighted sentiment for DOGE has turned negative multiple times, especially during periods of consolidation. Consequently, Martinez has revealed that the recent shift in Dogecoin’s market sentiment is attributed to its ongoing price consolidation.
The analyst has surmised that investors and traders are growing increasingly impatient with DOGE’s prolonged consolidation. The price has remained stagnant despite its rise to $0.4. With the sentiment turning bearish, the Dogecoin price could face additional challenges, leaving investors uncertain whether to buy or sell off their holdings to mitigate potential losses.
Moving on, Martinez has observed that the red sentiment line on the DOGE chart has dipped below 0.597, reflecting negative market sentiment. This bearish indicator, combined with Dogecoin’s slow price growth, suggests that interest and optimism surrounding the meme coin have declined for now.
Analyst Says The Longer The Consolidation, The Bigger The RallyMany in the crypto market have expressed concerns over the recent change in market sentiment due to DOGE’s extensive price consolidation. However, crypto analyst Cephii proposed that this consolidation could catalyze a significant Dogecoin price rally.
According to the analyst, “The longer we consolidate here, the bigger the rip.” This suggests that Dogecoin could experience an explosive price rally once its consolidation ends. Based on his price chart, the analyst has predicted a potential rise toward $0.8 once DOGE can break past key resistance areas.
Additionally, Cephii has pointed out that Dogecoin’s social metrics remain strong. This is likely due to the continued bullish sentiment within the Dogecoin community, even amid the negative shifts in market sentiment.
Ethereum’s Next Big Move Could Be Slightly Delayed, Market Expert Warns
Discussions about Ethereum’s next major price rally have emerged significantly within the crypto community following its recent upbeat strength in the past few days. With upside momentum gaining traction, there are speculations that ETH may rally soon. However, a recent development suggests otherwise.
Anticipated Major Rally For Ethereum Might Require More PatienceEthereum’s next big upswing is widely believed to be just around the corner as evidenced by several bullish forecasts. Nonetheless, Ali Martinez, a market expert and investor, predicts that the notable much-anticipated move may take longer than the general market expects.
The expert points to a key market sentiment trend that implies that ETH could require more time to build the necessary momentum for its next price breakout. This forecast may also indicate that the altcoin may witness a period of consolidation before any substantial upward movement.
In the past two bull cycles when long-term holders went into greed, Ali Martinez highlighted that Ethereum climbed super high. Meanwhile, the metric shows that long-term holders’ mood is still in the early phases of belief.
Comparing the development in the ongoing cycle with the past cycles, the expert is confident that the altcoin’s next big move could still be ahead. Martinez’s forecast serves as a cautionary insight for traders and investors as ETH navigates the current volatile phase.
As optimism around ETH begins to build, Venturefounder, a crypto analyst has pointed out the digital asset’s path to a new all-time high. His forecast is part of a broader sentiment that ETH might be gearing up for a significant move upward.
After navigating Ethereum’s price action on the 3-week chart, Venturefounder believes that the altcoin will surge to $4,900. Furthermore, the expert solely attributes his forecast to a breakout from an impending chart formation, particularly the Cup and Handle pattern.
The chart shows that ETH has finally reached a weekly close of $3,800 as support. Even though it took the asset weeks to achieve the level, Venturefounder claims that the move was solid.
With ETH closing the week at $3,800 and the Cup and Handle pattern forming, the $4,900 level could be the next price target. Following the milestone, Venturefounder foresees other higher levels, such as $5,349, $6,457, and $7,238, by the end of the Q1 of 2025.
Is ETH’s Outlook Becoming Bearish?Over the past week, ETH displayed a robust price performance, rising as high as $4,089 on Monday. However, its upside momentum appears to be slowing down, leading to a drop toward the $3,800 level.
This sudden drop has triggered a potential negative outlook for ETH in the short term as investors are gradually becoming pessimistic. Following the price drop of nearly 4% in the past day, its market cap and trading volume have also dropped by 3% and 13% in the same time frame.
Dogecoin Price Action Sparks FOMO In An Emerging Rival Altcoin Eyeing 32,390% Returns by Mid-January
After an explosive rally, the Dogecoin price consolidated between $0.35 and $0.47, which saw it gain 78% in a month. This has prompted ADA holders to join PropiChain’s (PCHAIN) token presale to capitalize on its potential for huge profits in 2025.
PropiChain is gaining attention, raising over $1 million in the ongoing presale. The RWA altcoin is tipped to transform the $300 trillion real estate industry through AI, blockchain, and the metaverse.
It has drawn from investors and DOGE whales who think the Dogecoin price action hints at fading momentum.
Could PropiChain deliver up to 32,390% returns by mid-January, surpassing even DOGE’’s impressive growth?
Dogecoin Price: DOGE Loses MomentumThe Dogecoin price jumped from $0.1467 in early November and reached a local high of $0.4758 before surrendering gains. At $0.3964, the Dogecoin price has surged 170% in less than 2 months.
After the slide, investors think DOGE is losing momentum. This also comes as old coins that surged in the same period are tanking. These include XRP and Cardano.
Analysts believe the Dogecoin price will see further downside before having any chance of rising again. This has pushed ADA holders to seek better opportunities in promising presale tokens.
The Dogecoin price is 46% below its May 2021 all-time high.
Growing Presale Demand Highlights PCHAIN’s InnovationDogecoin is known for its explosive rally and volatility, yet an analyst says PropiChain is well-positioned to outperform the meme coin and other blue-chip assets.
The RWA altcoin has seen an increase in its demand, with the token presale raising over $1 million in the first round. There are two more rounds to go before the public launch but savvy investors are rushing to buy now before it is sold out.
Analysts have lauded PropiChain’s several features as the reason behind its presale success.
The project is tokenizing real estate, enabling fractional ownership. PCHAIN’s users will have access to the global real estate market by buying pieces of property.
Additionally, PropiChain’s users will have their real estate management workload significantly reduced thanks to its smart contract automation feature.
The feature will handle transactions such as auto leasing and lease renewals. Automated transactions have no room for error and there is no human intervention needed.
The project’s innovation continues with automated valuation models (AVMs). This is an AI-driven algorithm that evaluates the true price of properties. This feature enables buyers and sellers to get fair pricing for their real properties.
PCHAIN’s set of exciting set of tools gets another exciting addition in the form of the metaverse. This feature is reserved for investors in distant locations but willing to invest in properties.
The metaverse allows users to view properties remotely. By offering a 3D, immersive experience, PropiChain enables investors to make informed purchasing decisions without being present.
The exciting PropiChain platform has increased demand for the PCHAIN token, with analysts projecting a 32,390% growth by 2025.
Dogecoin Price Action vs PCHAIN’s MomentumThe Dogecoin price momentum is waning and holders are starting to book profits and rotate into promising altcoins.
PCHAIN’s focus on real estate tokenization makes it stand out altcoin with high upside potential. Analysts are predicting more than 32,000% gains after listing for the RWA altcoin.
PCHAIN: Presale Enters Round 2 After Raising Over $1 MillionPropiChain continues with its impressive presale that has entered the second round. After raising over $ 1 million with whales signing up every day, now is the best time to secure PCHAIN before it is listed on secondary exchanges.
Investors are pleased with the project as it has exceeded expectations. A CoinMarketCap listing and independent smart contract audit by BlockAudit have enhanced its credibility in the market.
The RWA altcoin has become the best opportunity to invest in now as the Dogecoin price loses momentum.
Don’t miss this opportunity. Join PropiChain’s presale and watch a $1,000 investment turn into $300K as the platform brings practical innovation to the real estate sector.
For more information about the PropiChain Presale:
Website: https://propichain.finance/
Join Community: https://linktr.ee/propichain
Metaplanet Turns To Bitcoin With Massive 4.5 Billion Yen Bonds
Metaplanet Inc., a publicly traded company on the Tokyo Stock Exchange, is ramping up its efforts to build its Bitcoin portfolio. According to multiple reports, the Japanese Bitcoin consulting company has issued ¥4.5 billion ($30 million) in zero-interest bonds to finance its Bitcoin acquisition strategy.
The company shared this news on its bond issuance through a disclosure posted on its website dated December 17th. This is the fourth in the series and formally carries the name Metaplanet Inc. 4th Series Ordinary Bonds.
The total amount of bonds is worth ¥4.5 billion, each costing ¥250 million. According to the company disclosure, the bonds are not subject to interest and will mature on June 16th, 2025.
*Metaplanet to issue 4.5 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds* pic.twitter.com/oS93rD7uXk
— Metaplanet Inc. (@Metaplanet_JP) December 17, 2024
Metaplanet And Its Quest To Become Asia’s Biggest Bitcoin HolderMetaplanet’s December bond offering is the fourth in the series, aiming to fund its Bitcoin strategy. As a publicly traded company, Metaplanet leverages Bitcoin as a primary reserve asset and seeks to use its excess cash to invest in Bitcoin.
According to its corporate manifesto, it’s taking the Bitcoin pivot thanks to the asset’s unique qualities, such as scarcity and apolitical monetary policies.
The latest bond issuance is part of the firm’s strategic plan to become the region’s largest Bitcoin holder. According to its disclosure, the bonds will be released in tranches, allowing the firm to raise money to purchase Bitcoins.
A Strategic Plan To Boost Bitcoin HoldingsMetaplanet Inc. started its Bitcoin-buying spree in April 2024. As of this writing, the Japanese firm has already added 1,150 Bitcoins, or $122.67 million, to its holdings. Metaplanet’s investment thesis is similar to that of MicroStrategy’s, led by Michael Saylor.
The issuance of new bonds is expected to fast-track its investment in digital assets. By offering zero-interest bonds, the company can avoid short-term financial issues while using the fresh funds to add more digital assets. It’s also a win-win scenario for investors since these bonds are offered at a discount but are paid in full upon maturity.
The market responded well to these most recent events; shares of the company surged by 51% during the past five days. The company’s market capitalization is raised to more than $1 billion as its shares hit a high of ¥4,270. The CEO of Metaplanet Inc., Simon Gerovich, has appreciated the overwhelmingly favorable reaction of the market to the move.
Metaplanet And BTC Rewards ProgramApart from its approach of bond issuing, Metaplanet also revealed its Bitcoin Rewards Program. Recently, the company started a ¥30 million ($199,500) prize pool to honor owners of at least 100 shares as of December 31, 2024.
Using a lottery system, the company will select 2,350 shareholders who will get varying amounts of Bitcoins.
Featured image from UEEx, chart from TradingView
XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens
The recent XRP price action has been highlighted by another notable surge that saw it reaching just above $2.7 briefly again after a 9% surge on December 17. Although the XRP price was rejected immediately after reaching this level, it continues to exhibit bullish momentum on the daily timeframe chart. Interestingly, popular crypto analyst and XRP advocate Dark Defender recently shared his insights on X, highlighting key price levels that could pave the way for an XRP price surge to $5.85.
Breakout Confirmed As XRP Price Hits $2.72Dark Defender, known for his consistent bullish stance on XRP even during its prolonged bearish phase, pointed out the significance of the $2.72 price level, which has acted as a support and bounce point. In a recent price outlook, he noted that XRP has been so far following his predicted trajectory, citing the achievement of a $2.72 target he shared two days prior. This validation further strengthens his confidence in the token’s current trajectory.
The significance of $2.72 becomes clearer in light of XRP’s breakout on December 15 from a downward-sloping resistance trendline that has been in play since December 3 on the 4-hour chart. Following this breakout, the XRP price rallied to touch $2.72 before facing rejection and started a short-term decline that brings into focus other critical support levels to keep an eye on.
With this in mind, Dark Defender’s new technical analysis points to $2.42 and $2.52 as the next two notable support levels to watch. Should the price breach the $2.52 level, $2.42 is expected to act as the most crucial bounce point just above the downward sloping resistance trendline that could reignite bullish momentum. A rebound from $2.42 would, in the analyst’s view, set the stage for another upward surge towards higher resistance levels.
Projected Rise To $5.85: Key Price Levels To WatchThe next stages in XRP’s ascent, according to Dark Defender, lie in overcoming pivotal resistance levels. The first step would be to break above $2.72 and retest its current 2024 high of $2.92. A successful break above $2.92 would open up XRP to new price highs in over six years.
Should the XRP price successfully break through the $2.92 mark, the analyst predicts a sure climb toward $3.43 as an intermediate target, which is its current all-time high price that has stood for over seven years. From there, Dark Defender predicted continued bullish momentum that would drive the token to a long-term target of $5.85.
At the time of writing, XRP is trading at $2.51 with a market cap of $144 billion. Reaching $5.85 would translate to a 133% increase in price and a market cap of $351 billion.
Cardano Foundation Under Swiss Government Control, Charges Hoskinson
The conflict between Cardano founder and IOG boss Charles Hoskinson and the Cardano Foundation continues to escalate publicly. The conflict first came public last week when a whistleblower accused the Cardano Foundation of mismanagement led by self-interest.
Hoskinson raised several accusations, the biggest one included the last-minute intervention in the now-accepted Cardano constitution. Hoskinson confirmed the whistleblowers’ claim that the Cardano Foundation almost undermined the Constitution process.
Hoskinson Escalates Fight With Cardano FoundationThe conflict has now flared up again after the Cardano Foundation announced a space on X yesterday, December 17. It wrote: The Cardano Foundation, headed by CEO Frederik Gregaard, CTO Giorgio Zinetti, and executive Alexandre Maaza, recently announced the launch of a series of public forums on X intended to bring “transparency, clarity, and dialogue” to its operations.
According to the Foundation, these sessions aim to “answer questions and share the context needed to move forward together,” and will feature leadership responding to community concerns about financial and governance oversight.
However, Hoskinson questioned the sincerity and efficacy of these forthcoming discussions via X. He suggested that if the Swiss jurisdiction does not permit democratic board elections, the Foundation should relocate.
“Here’s a question before they will lie about how the current board got appointed. If Switzerland doesn’t allow you to democratically elect the board members, then why can’t you move the Foundation to a new jurisdiction that will? The assets can be granted to another body. Ask them about what happened to Tam, Nico, and Manmeet. Ask them about the ESA administrator and what happened,” Hoskinson wrote.
Community members, including Cardano ambassador YUTA-Cardano, pushed back on Hoskinson’s stance. While acknowledging potential shortcomings, YUTA-Cardano emphasized that Swiss bylaws and supervisory bodies can hold the Foundation accountable. He argued that Hoskinson’s proposal for a member-based organization might encounter practical issues, such as devising fair elections and implementing Sybil protection measures. “It comes down to trust,” the ambassador noted.
In response, Hoskinson reiterated that the “foundation shouldn’t be in Switzerland,” underscoring that his primary concern is about long-term community oversight. He contended that, as it stands, the current council—appointed under the Swiss model—is not elected by the ADA-holding community.
“The foundation shouldn’t be in Switzerland. There are many jurisdictions that allow for different DLT foundations like Abu Dhabi or Wyoming. The community could design with the CF a new structure, and the CF could grant the funds to this structure. The alternative is having people appointed by the Swiss government forever choose their successors and never have any community input in the use of funds, leadership, or oversight.”
A separate community member challenged Hoskinson’s claim that the council’s structure implies government intervention. “Nobody in CF is appointed by the Swiss government,” the user wrote. Hoskinson countered by asking, “So, who appointed the current council?” though he provided no further clarification on the selection process or the Swiss authorities’ role.
Pressed to offer a constructive path forward, Hoskinson defended his approach, insisting that “some fights you need to have.” He stressed the gravity of the situation—citing the hundreds of millions of dollars at stake—and the importance of public confrontation: “The CF has publicly stated that these funds will forever be under the control of a council not appointed by the community.”
He concluded, “This outcome was never my intent as a founder of Cardano, and we’ve gotten to a critical juncture. It’s important that the community explicitly knows this reality and the onchain government by armed with facts. I’ve spent 3 years dealing with it privately between IOG and the CF. Their conduct at the constitutional convention and the voting in Catalyst were the last straw. There is no other means to affect change than a public fight.”
At press time, ADA traded at $1.0324.
SEC To Approve XRP And Solana Joint ETF? Analyst Says Yes
Analysts from Bloomberg have a positive outlook that a score of cryptocurrency-based exchange-traded funds or ETF would get approval from the US Securities and Exchange Commission (SEC) in 2025.
Crypto investors might have a lot of options next year when it comes to publicly traded crypto securities, one of which would be a combination of Bitcoin and Ethereum.
A Wave Of Crypto ETFsTwo Bloomberg analysts anticipate that exchange-traded funds – XRP and Solana in particular- will soon flood the cryptocurrency space as they foresee that the SEC will approve several of these investment instruments next year.
“We expect a wave of cryptocurrency ETFs next year, albeit not all at once,” Eric Balchunas, one of the Bloomberg analysts, said in a post.An atmosphere of optimism continues to encapsulate the crypto market as the incoming administration of US President-elect Donal Trump indicates that current SEC Chair Gary Gensler will be stepping down from his office.
We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending… pic.twitter.com/29vMdciZxE
— Eric Balchunas (@EricBalchunas) December 17, 2024
Gensler has been perceived as an anti-crypto state official who implemented stringent regulations on the cryptocurrency space that hinder the growth of digital assets in the US.
Many crypto traders are running high on optimism that Trump will appoint a new SEC head that will be more open to crypto exchange-traded funds.
Bitcoin-Ethereum ETF To Get The GoBalchunas and fellow Bloomberg analyst James Seyffart believe that an exchange-traded fund that put together Bitcoin and Ethereum would be the first crypto-based traded securities to get the green light from the SEC.
“Dual bitcoin and ethereum ETFs from Hashdex, Franklin [Templeton] and Bitwise will likely be the next spot crypto ETFs approved,” Seyffart said in a post.Asset managers from Bitwise, Hashdex, and Franklin Templeton are anticipating the launch of this exchange-traded fund that combines the two cryptocurrencies with the largest market capitalization. Hence, these asset managers have already expressed their interest in issuing the traded securities.
Earlier this year, the SEC approved an ETF for Bitcoin in January and another for Ethereum in July. Meanwhile, the new exchange-traded fund would be the first time the two largest cryptos would be merged into one traded securities.
Expect Delay For XRP-SolanaSome crypto analysts claimed that an ETF combining XRP and Solana might have to wait a little longer, expecting that the current SEC administration would not permit the traded securities since these digital assets have been involved in legal battles wherein XRP and Solana have been classified as securities.
Eleanor Terrett, a business journalist, remarked that two of the five applications for exchange-traded funds for Solana have been denied by the current SEC leadership this month.
Meanwhile, Balchunas and Seyffart are still optimistic that the joint XRP and Solana traded securities will get the go-signal from the new SEC administration.
“Both Solana and XRP ETFs will have to wait until the new SEC administration takes control before being seriously considered,” Seyfart noted.Featured image from Reuters, chart from TradingView
Analysts Predicts ‘Major Boom’ For Dogecoin Price, Here’s The Target
Crypto analyst Lebicahlz has predicted that the Dogecoin price is set to witness a major explosion, which would send it to new all-time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it rallies to new highs.
Dogecoin Price Set To Reach New ATHsIn a TradingView post, Lebicahlz said he believes the Dogecoin price is ready to blast off into new record highs. The analyst warned that the growth may not be as much as previous bull runs. However, he added that Dogecoin does look like a very good coin for 2025, as it has more room to run to the upside.
The analyst’s accompanying chart showed that Dogecoin could rally to as high as $20 by next year. Such a parabolic rally would represent a price gain of around 4.900% from its current level. Based on the chart, this price surge could happen sometime between early January 2025 and July.
Crypto analyst Javon Marks also recently echoed a similar bullish sentiment for the Dogecoin price, stating that historical data shows that the Dogecoin price will experience a surge of over 75% to reach a new ATH. Marks predicted that the foremost meme coin could rally above $3 and reach $15 on a “high end.”
Crypto analysts like Trader Tardigrade have also previously predicted that the Dogecoin price could reach double digits in this market cycle. Trader Tardigrade predicted that Dogecoin could reach as high as $30 if it mirrors the 2021 bull run. In line with this, the analyst advised that investors should start looking to secure profits when Dogecoin hits $10 and possibly continue to do so as the meme coin rallies to $30.
DOGE Investors Are Growing ImpatientIn an X post, crypto analyst Ali Martinez revealed that DOGE investors might be growing impatient with the Dogecoin price action. This came as the analyst revealed that the market sentiment for Dogecoin has turned negative. Based on this, the analyst remarked that traders are getting impatient during this ongoing price consolidation.
The Dogecoin price has continued to consolidate around the $0.4 range for about a month now since its parabolic rally between October and November. However, crypto analyst Kevin Capital provided some optimism for those who might be bearish at the moment.
He stated that a dovish Fed outlook for 2025 and the Bank of Japan’s decision not to hike rates could nullify any bearish indicator. In line with this, the analyst remarked that now is not the time to overanalyze charts but instead to focus on macroeconomic factors.
At the time of writing, the Dogecoin price is trading at around $0.38, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Ripple Stablecoin RLUSD Is A ‘Trojan Horse’ For DeFi And Banking, Claims Venture Capitalist
In his latest video analysis on YouTube, Adam Cochran, partner at Cinneamhain Ventures (CEHV), an activist venture capital firm, described Ripple’s newly launched stablecoin, RLUSD, as a “Trojan Horse” poised to transform both decentralized finance (DeFi) and traditional banking sectors.
Why Ripple’s RLUSD Is A ‘Trojan Horse’Cochran emphasized the strategic significance of RLUSD, stating, “Ripple quietly dropped a bombshell and no one’s really talking about it but it could dramatically revolutionize the position of Ripple in the marketplace.” He elaborated that while the crypto community remains focused on XRP’s price movements and its upcoming programmability upgrades, RLUSD represents a fundamental shift in XRP Ledger (XRPL) ecosystem.
RLUSD differentiates itself from other stablecoins by adhering to stringent regulatory standards. Cochran highlighted, “RLUSD isn’t just another USDC clone; this is more into the original Paxos stablecoin that’s NYDFS regulated, custodian issued, backed by secure cash assets.”
The stablecoin is exclusively backed by real US cash equivalents held in US banks registered with regulators and subject to regular audits. This regulatory compliance ensures that RLUSD meets stringent monetary transfer licenses, including a Virtual Asset Service Provider (VASP) license, positioning it for use by EU exchanges and banks.
Unlike other stablecoins such as Tether (USDT), RLUSD is set to be issued on both the XRP Ledger and the Ethereum blockchain. Cochran pointed out, “Ripple is making sure they themselves capture it and can provide more value into the ecosystem.”
Cochran posits that RLUSD is integral to unlocking the vast multi-trillion dollar Forex markets on the blockchain without necessitating advanced technological upgrades. “This stablecoin is going to unlock the ability for real-world asset (RWA) issuers, Forex issuers, currency issuers, and other programs to be able to price on a native AMM their assets in the US dollar,” he remarked.
The introduction of RLUSD is expected to facilitate the pricing of assets in US dollars directly on the XRPL’s Automated Market Maker (AMM), thereby attracting institutional trading and Forex settlement activities. Cochran elaborated: “Ripple can begin to benefit from the yield that comes in and put that back into the XRP ecosystem.” He suggests that the stablecoin could enhance liquidity on-chain, which is currently confined to opaque exchange balances:
“Sophisticated participants don’t want to have an AMM that trades against Ripple as the underlying currency. They want to be able to price their assets in the US dollar and until the launch of RLUSD that was something that wasn’t possible. This stablecoin is going to unlock the ability for RWA assets, Forex issuers, currency issuers and other programs […] to allow Ripple to bring a lot of their overall liquidity on-chain.”
Ripple has long targeted institutional clients, including banks, financial institutions, and Forex traders. Cochran emphasized the importance of regulatory compliance, stating, “If Ripple can get their MA compliance approved and be offered in the EU and bring this stablecoin to diverse markets, they have a great opportunity to get these providers to integrate Ripple’s Network by offering them on-chain yield and sharing of that yield.”
Moreover, the company’s strategic focus on programmability through upcoming features like Hooks and an Ethereum Virtual Machine (EVM) sidechain is expected to further enhance RLUSD’s utility. “Ripple still really needs hooks and their EVM sidechain to perform well, get the programmability in place to be able to offer more sophisticated DeFi products,” Cochran stated.
The global stablecoin market, currently dominated by Tether (USDT) and USD Coin (USDC), presents a significant opportunity for RLUSD, especially within the EU where regulatory frameworks are stringent. Cochran estimated, “If Ripple was to issue the same amount of stablecoins as Tether does nowadays, they’d be looking at something like $5 billion a year potentially in yield gains.”
Cochran further pointed out the competitive edge RLUSD could provide Ripple, stating, “These are the type of asset issuers that care about RWA issuance, Forex settlement and interchange […] something that no one else in the DeFi space has the expertise or the interested parties or the tooling to be able to provide.”
Cochran concluded his analysis by affirming Ripple’s strategic trajectory, “Ripple has a great potential path in front of it if it continues to execute on delivering the vision in the way that it wants to.”
At press time, XRP traded at $2.51.
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