Из жизни альткоинов

Cathie Wood, CEO of ARK Invest, has reiterated her optimistic outlook on Bitcoin (BTC) in a recent interview with Bloomberg, suggesting that significant political and regulatory changes could propel the cryptocurrency to new heights. 

Bitcoin To Exceed $1 Million By 2030?

With the election of Donald Trump, Wood anticipates a surge in private-company acquisitions that have been hindered by a “regulatory red tape,” which she believes will unlock substantial opportunities for investors and venture capitalists.

During her interview, Wood highlighted that alterations at the Federal Trade Commission (FTC) are likely to revitalize merger-and-acquisition activity, paving the way for what she terms “liquidity events.” 

This shift could lead to a more dynamic market environment where strategic buyers can actively assess and bid for innovative companies, ultimately enhancing price discovery. 

“M&A has been prevented by the FTC. That is going to change,” Wood asserted, emphasizing that these developments could significantly alter the financial landscape.

In her continued advocacy for Bitcoin, Wood reiterated a bold prediction: the cryptocurrency could surpass $1 million by 2030. This assertion is grounded in the coin’s recent price rally, which has seen Bitcoin climb to over $108,000. 

Wood attributes this growth not only to market dynamics but also to the inherent scarcity of Bitcoin, which is capped at a total supply of 21 million coins. 

She draws a stark contrast between Bitcoin and gold, noting that while increased gold prices typically lead to higher production rates, Bitcoin’s fixed supply ensures that its scarcity will only intensify over time. “It is becoming even more scarce than gold,” she stated, reinforcing her belief in Bitcoin’s unique value proposition.

Wood Highlights Musk’s Role In Overcoming Regulatory Hurdles

Wood’s investment philosophy has garnered both acclaim and criticism, particularly regarding her high-risk bets on emerging technologies.

Her ARK Innovation exchange-traded fund (ETF), valued at $6.7 billion, has experienced significant volatility, reflecting the challenges and rewards associated with investing in disruptive sectors. Nonetheless, Wood’s predictions for both Bitcoin and Tesla have proven prescient, yielding considerable returns for investors.

Additionally, Wood expressed confidence in Elon Musk’s new initiative focused on streamlining government operations, aptly named the Department of Government Efficiency (DOGE). She believes Musk’s experience with regulatory hurdles positions him uniquely to effect meaningful change in governmental structures. 

“He just knows he can change the world faster than he already has if he got some of those obstacles out of the way,” Wood remarked, suggesting that Musk’s influence could lead to a more favorable environment for innovation.

At the time of writing, Bitcoin is trading at $97,268, down 4% on a weekly basis.

Featured image from DALL-E, chart from TradingView.com 

Генеральный директор американской компании Ripple Брэд Гарлингхаус (Brad Garlinghouse) перечислил главные проблемы функциональности Биткоина как платежной системы, противопоставив BTC выпускаемую его компанией криптовалюту XRP.

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.

The Regulatory Measures of ASIC

The main Australian financial regulator, ASIC, has become more vigilant in monitoring the cryptocurrency industry. The recent prosecution against Binance Australia is part of a broader effort to enforce compliance with contemporary financial norms.

The commission has accused Binance of violating several laws related to counter-terrorism financing (CTF) and anti-money laundering (AML). This action demonstrates ASIC’s commitment to safeguarding investors from potential cryptocurrency risks and upholding the financial system’s integrity.

Implications for Binance Australia

This regulatory decision could have significant effects on Binance Australia. The business may face hefty fines, operational limitations, or even the suspension of its Australian operating license. Such outcomes could impact Binance’s brand and investor confidence internationally and its operations in the region.

ASIC’s Deputy Chair, Sarah Court, criticized Binance’s compliance systems as “woefully inadequate,” stating that many clients suffered significant financial losses due to the lack of appropriate consumer protections.

The ongoing legal proceedings could result in substantial penalties, declarations, and adverse publicity orders against Binance Australia. Such outcomes may adversely affect Binance’s brand reputation and investor confidence in Australia and internationally.

This case serves as a clear warning to all cryptocurrency exchanges about the critical importance of adhering to legal requirements and implementing robust compliance procedures to protect investors and maintain market integrity.

Broad Effects on Crypto-Regulation

This historic case is likely to set a precedent in cryptocurrency regulation. Authorities closely monitor Australia’s actions worldwide, which may influence how cryptocurrencies are regulated globally. If ASIC’s prosecution is successful, it could encourage other regulators to target cryptocurrency exchanges that operate similarly within their jurisdictions. Supporters argue that the development and stability of the cryptocurrency market depend on a more consistent and stringent regulatory environment, which this case might help establish.

What To Expect Next For Australia’s Crypto Regulation

This lawsuit will likely significantly impact how cryptocurrencies are regulated in Australia in the future. According to industry analysts, ASIC will continue enhancing its regulatory framework to address the challenges posed by virtual currencies.

Cryptocurrency exchanges may face stricter AML and CTF regulations, improved customer due diligence, and greater operational transparency as part of additional compliance obligations. These measures aim to protect investors, prevent illegal activities, and ensure the sustainable growth of the Australian cryptocurrency market.

Furthermore, ASIC‘s case against Binance Australia is a landmark moment in cryptocurrency regulation. It highlights the increasing need for robust regulatory frameworks to manage the rapidly evolving world of digital currencies. The outcome of this case will be closely observed by regulators, investors, and cryptocurrency enthusiasts, as it has the potential to reshape the trajectory of cryptocurrency regulation in Australia and beyond.

Featured image was created with DALL.E, chart was from Tradingview.com

Комиссия по ценным бумагам и биржам США (SEC) оштрафовала компанию Tai Mo Shan, дочернюю структуру Jump Crypto Holdings, на $123 млн за введение инвесторов в заблуждение о стабильности алгоритмического стейблкоина Terra USD.

Служба расследований внутренней безопасности (HSI) Лос-Анджелеса задержала двух жителей штата Калифорния, заподозрив в мошенничестве с невзаимозаменяемыми токенами (NFT) на $22 млн. Теперь этим людям предъявлены обвинения.

This year, crypto hacks increased in the total value stolen and the number of attacks compared to last year. According to a recent report, the industry lost over $2 billion in the past 12 months, with over half of the funds allegedly being stolen by North Korean hackers.

Crypto Industry Loses $2.2 Billion To Hacks

As the crypto industry grows, the number of hacks and total value lost have also increased. 2024 marks the fourth consecutive year in which the funds stolen from crypto hacks exceeded the billion-dollar mark and the fifth year overall to surpass this figure.

Chainalysis’ recent report revealed that hacks remained persistent in 2024, increasing 21.07% year-over-year (YoY). The total value stolen surged to $2.2 billion, $400 million more than in 2023 and the third-largest year by this metric.

Moreover, 2024 became the year with the most individual hacks, reaching 303 incidents by December. This figure represents a 7% increase from 2023’s 282 attacks, but Chainalysis highlights a notable shift halfway through the year.

According to the report, the intensity of crypto hacks reduced after July, when the cumulative value stolen since January had already hit $1.58 billion. This figure was approximately 84.4% higher than the value stolen over this same period in 2023.

Based on this, Chainalysis analysts considered that “the ecosystem was easily on track for a year that could rival the $3 billion+ years of 2021 and 2022.” Nonetheless, 2024’s uptrend slowed considerably by the end of July, remaining relatively steady for the rest of the year.

Centralized exchanges (CEXs) were the most targeted platforms in Q2 and Q3, recording some of the largest incidents in the industry’s history. The DMM Bitcoin and WazirX hacks took around $540 million between May and July, with the former being the third-largest crypto heist in history.

Decentralized finance (DeFi) platforms accounted for the largest share of stolen assets in Q1, like most quarters between 2021 and 2023. Meanwhile, Private key compromises were the largest compromise type, accounting for 43.8% of the incidents.

The report also noted private key hackers turned to bridges and mixing services to launder the ill-gotten funds, while hackers from other attack vectors preferred Decentralized Exchanges (DEXs).

North Korean Hacks Take 60% Of Stolen Funds

According to Chainalysis, hackers from the Democratic People’s Republic of Korea (DPRK) stole more from crypto platforms in 2024 than in other years. This year, the total value stolen increased by 102.88% from 2023, going from $660.5 million to $1.34 billion.

The number of incidents surged from 20 to 47 in 2024. These figures represent 20% of the total incidents and 61% of the total value stolen this year. Additionally, crypto attacks linked to North Korean hackers are becoming more frequent and yielding larger profits.

Attacks between $50 million to $100 million, and above this price range, were more frequent this year, “suggesting that the DPRK is getting better and faster at massive exploits,” the report adds.

It’s worth noting that in the previous two years, North Korean exploiters obtained less than $50 million in ill-gotten funds per incident:

When examining the DPRK’s activity in comparison to all other hacks we measured, it is clear that the DPRK has been consistently responsible over the last three years for most large-size exploits. Interestingly, the DPRK’s dominance of the high end of the exploitation ladder continued in 2024, but there is also a growing density of DPRK hacks at lower amounts, most notably around $10,000 in value.

Chainalysis highlights that North Korean IT workers have increasingly infiltrated crypto and Web3 companies, compromising networks, operations, and integrity. However, it notes that most DPKR-related exploits occurred at the beginning of the year, with overall hacking activity stagnating in Q3 and Q4.

Ultimately, the report suggested prioritizing “thorough employment due diligence (…) while maintaining robust private key hygiene to safeguard critical assets, if applicable.”

Amid yesterday’s crypto market slump, the US Securities and Exchange Commission (SEC) approved the first-ever dual Bitcoin (BTC) and Ethereum (ETH) index exchange-traded funds (ETFs) from Franklin Templeton and Hashdex. The ETFs are scheduled for launch in January 2025.

SEC Approves First Dual Bitcoin-Ethereum Index ETFs

For the first time, the US financial regulator has approved hybrid Bitcoin-Ethereum index ETFs. Hashdex’s Crypto Index ETF will trade on Nasdaq, while Franklin Templeton’s Crypto Index ETF will be listed on the Cboe BZX Exchange.

Both ETFs will hold spot BTC and ETH in proportions reflecting their respective market capitalizations, currently resulting in an 80:20 ratio favoring Bitcoin. However, the ETFs may expand to include other cryptocurrencies in the future, pending regulatory approval.

The SEC highlighted that Franklin Templeton’s December 18 filing received expedited approval. Commenting on the development, Nate Geraci, President of The ETF Store, said:

Will be interesting to see if BlackRock or others attempt to piggyback on this and launch similar ETFs. Regardless, I expect there will be meaningful demand for these products. Advisors love diversification. Especially in an emerging asset class such as crypto.

Geraci emphasized the potential rationale behind the SEC’s decision to approve the crypto index ETFs, pointing to their similarities with the previously approved spot Bitcoin and spot Ethereum ETFs in terms of the trusts’ structure and the operation terms.

The SEC added that proposals for both the ETFs aligned with the criteria set forth by the Exchange Act. For the uninitiated, the Exchange Act requires issuers to implement safeguards against fraud, manipulation, and risks to investors.

Details About The Crypto Index ETFs

Asset manager Hashdex first amended its S-1 filing with the SEC in October, and submitted a second amended application on November 25. Franklin Templeton filed its S-1 for the crypto index ETF in August.

In Hashdex’s November filing, the company stated that other digital assets, such as Avalanche (AVAX), Chainlink (LINK), and Litecoin (LTC), may meet its eligibility criteria and could be added to the ETF in the future with regulatory approval. Franklin Templeton’s ETF also leaves room to add other cryptocurrencies, but did not specify any by name.

Notably, Hashdex’s ETF will rely on custodial services from Coinbase, BitGo, Fidelity, and Gemini. Similarly, Franklin Templeton’s ETF will use BitGo and Coinbase as its primary custodians.

The crypto ETF space is becoming increasingly competitive, thanks to their resounding success since their launch earlier this year. Experts opine that US-based crypto spot ETFs may soon overtake spot gold ETFs in terms of net assets held.

Following the US, other countries in the world are also steadily warming up to the idea of regulated crypto ETFs. At press time, BTC trades at $95,824, down 4.8% in the past 24 hours.

Michael Saylor, co-founder and chairman of business intelligence firm MicroStrategy, has unveiled a comprehensive crypto framework aimed at further integrating Bitcoin and other digital assets into the US economy. 

Shared via social media on Friday, Saylor’s proposal comes at a time of increasing institutional interest in cryptocurrencies and aims to position the United States as a leader in the 21st-century digital economy. 

Bitcoin And Crypto Framework To Strengthen US Dollar

Saylor emphasizes that a well-structured digital asset policy could significantly strengthen the US dollar, mitigate national debt, and empower millions of businesses. He believes that by establishing a clear and universally understood taxonomy of digital assets, the US can foster innovation and create trillions in value. 

Saylor’s framework categorizes digital assets into several key classes, including digital commodities like Bitcoin, which are backed by their own digital power, and digital securities that represent ownership in equities and derivatives. 

Other categories include digital currencies linked to fiat money, fungible digital tokens offering specific utilities, unique non-fungible tokens (NFTs), and digital assets tied to physical commodities like gold or oil.

To ensure the legitimacy of these assets, Saylor insists that a robust framework defining the rights and responsibilities of all market participants is essential. 

This system aims to establish a trustworthy environment where issuers have the right to create assets while ensuring fair disclosure, exchanges are responsible for safeguarding client assets and maintaining transparency, and owners are empowered to manage their assets in compliance with local laws. 

Central to this framework is the foundational principle that all participants must act ethically, with civil and criminal accountability for their actions.

Transform Digital Markets And Offset National Debt

Saylor also advocates for a regulatory approach that prioritizes efficiency and innovation over “bureaucratic hurdles.” He proposes standardized disclosures and industry-led compliance measures that enable exchanges to assist in data collection and publication. By limiting compliance costs and streamlining the issuance process, he envisions rapid asset creation, potentially reducing timelines from months to mere days. 

This empowerment of exchanges to facilitate integrated services for all market participants aims to enhance the overall efficiency of digital asset transactions, fostering a competitive and innovative marketplace.

Looking ahead, Saylor envisions a transformative opportunity for US capital markets, projecting that a strategic digital asset policy could unleash trillions in value creation. 

The potential benefits include the rapid issuance of digital assets, which would drastically reduce the time and cost involved, and the expansion of access to capital markets for millions of businesses, democratizing investment opportunities. 

Saylor also argues that by establishing the US dollar as the global reserve digital currency, the nation could catalyze a massive expansion in digital currency markets, growing from $25 billion to an estimated $10 trillion. 

Furthermore, Michael Saylor predicts that the global digital capital market could swell from $2 trillion to $280 trillion, with US investors capturing a significant portion of this wealth. 

By establishing a strategic Bitcoin reserve, Saylor believes the US Treasury could generate between $16 trillion to $81 trillion in wealth, providing a viable pathway to offset national debt.

At the time of writing, Bitcoin is trading at $97,360, down 4% on the weekly time frame. 

Featured image from DALL-E, chart from TradingView.com 

Tether appears to have now been affected by regulatory adjustment in Europe. Particularly, with the EU’s new Markets in Crypto-Assets (MiCA) regulations scheduled to fully take effect in its member states by the end of the year, the crypto landscape is being reshaped.

Intended to increase oversight as well as eliminate illegal practices, MiCA requires stablecoins traded on centralized exchanges to be issued by firms with an e-money license. Several crypto exchanges operating in the EU have responded by delisting the world’s leading stablecoin, Tether’s USDT.

This development has fed fears about liquidity and investor appeal due to the USDT delisting.

Tether Delisted: Implications For EU Crypto Markets

USDT is a stablecoin and a key part of the crypto ecosystem as it is an important tool for trade and settlement of cryptocurrency transactions.

Banning access to Tether across the continent could backfire on the region as it may push traders away from vanity-centric territories or cause traders to turn to illiquid trading pairs.

Usman Ahmad, CEO of Zodia Markets, highlighted the decision’s significant impact, describing it as both “exclusionary and disruptive” for EU-based clients. Usman noted:

I understand why it’s been done to a certain extent, but it’s quite exclusionary and quite limiting for EU clients themselves because [USDT] is the most liquid stablecoin by a country mile

Notably, the removal of Tether from EU exchanges has already caused shifts in trading patterns. According to Bloomberg, with fewer USDT trading pairs available, some exchanges report an increase in fiat trading pairs as traders adapt.,

Erald Ghoos, CEO of OKX Europe, noted that fiat currencies are increasingly being used for trading in the absence of Tether, a development that reflects changing market dynamics.

Europe Falling Behind In The Crypto Race?

Although the aim of MiCA is to fortify regulatory standards, critics have pointed out that it may actually impair the EU’s competitiveness as a crypto hub. Pascal St-Jean, CEO of crypto asset manager 3iQ Corp said:

A vast proportion of cryptoassets trade in a pair against Tether’s USDT. So the cost to investors having to trade out of a USDT pair, just to buy the same asset trading against another stablecoin, will cause disruption.

Bloomberg reported that the restrictions come as other regions, especially North America, are experiencing a flurry of crypto activity. PitchBook data shows that venture capital investment in European crypto startups is on course to decline to a four-year low in 2024, adding to the region’s woes.

Meanwhile, the United States, by contrast, now seems to be moving in a more crypto-friendly direction. President-elect Donald Trump’s administration has appointed several pro-crypto advocates to key positions, signaling a potential light-touch approach to regulation.

Featured image created with DALL-E, Chart from TradingView

Председатель совета директоров MicroStrategy Майкл Сэйлор заявил, что готов консультировать новую администрацию Белого дома и избранного президента Дональда Трампа по вопросам государственной политики США в области криптовалют.

Bitcoin has faced a significant correction, dropping 15% from its all-time high of $108,300. This price decline marks a sharp shift in market sentiment, which has quickly transitioned from an extremely bullish outlook to one of uncertainty and caution. As altcoins experience heavy losses, Bitcoin’s correction has raised concerns about the sustainability of the recent rally.

Top analyst Maartunn recently highlighted that this correction aligns with the most significant Coinbase selling activity since October 26, when BTC was trading at $66,000. This increase in selling pressure is a clear signal of a shift from a bullish market to one filled with fear and hesitation. The combination of reduced buying activity and rising selling pressure suggests that the market is struggling to maintain its upward momentum.

As BTC navigates this volatile phase, investors are watching closely to see if the market can stabilize or if further declines are imminent. The next few days could be crucial in determining whether the recent correction marks the beginning of a larger downtrend or if Bitcoin can regain its bullish footing.

Bitcoin Sentiment Shifts

Market sentiment, a key driver of price action, has shifted rapidly from bullish to fearful, with Bitcoin now testing the $92,000 mark to find support. While the price itself hasn’t experienced an aggressively sharp decline, the broader market is seeing heavy losses, particularly among altcoins. This suggests that the risk of a more significant correction is increasing as market participants scramble to adjust to the change in sentiment.

CryptoQuant analyst Maartunn highlighted the Bitcoin Coinbase premium gap, showing that selling activity on Coinbase has surged to its highest level since October 26, when BTC was trading at $66,000.

This spike in selling pressure signals that many investors are taking profits or potentially exiting positions as the market sentiment turns negative. The significant selling volume indicates a possible shift from optimism to caution, with the potential for further downside if the market does not regain confidence soon.

Despite this, the outlook remains uncertain. Many analysts believe BTC still has room to rise, with some suggesting that recent price action may not necessarily indicate that the top has reached. The market is caught in a delicate balance as the price approaches critical support levels, and the next few days could be crucial in determining whether Bitcoin can bounce back or if further correction is in store.

Price Action Challenging Bullish Structure

Bitcoin is currently trading at $92,200, a critical level that must hold for bulls to maintain control over the price action. This level represents key support, and the price structure remains strong above it, suggesting that the recent retrace could merely be a shakeout rather than the start of a trend shift. If BTC can close above this mark in the coming days, there’s a strong chance for recovery, as it would confirm that the bulls are still in control.

However, if Bitcoin fails to hold above $92,200 and loses this level, the situation will become more dire. A breakdown below this support could trigger a cascade of selling, taking Bitcoin to lower prices and potentially signaling the start of a deeper correction. 

Related Reading: The Bitcoin Cycle Top ‘Could Hit In October 2025’ – Analyst Explains Why

The next few days are crucial in determining Bitcoin’s direction, as holding this level would help preserve the bullish momentum while losing it could set the stage for a more significant pullback. For now, traders and investors are closely watching how BTC reacts to this critical support level to gauge the market’s next move.

Featured image from Dall-E, chart from TradingView

The crypto presale world is buzzing right now, with some projects already securing millions in funding.

If you’re looking to dive into the next big opportunity, here are four presales worth keeping an eye on.

1. Wall Street Pepe
2. iDEGEN
3. SOLX
4. Dogizen

Whether you’re a meme-coin enthusiast, an AI visionary, or just love a good community-driven project, this list has something for everyone.

Wall Street Pepe – The Meme Coin with Real Utility and a Massive Presale Surge

Move over $DOGE, there’s a new meme coin on the block, and it’s flexing its numbers. Wall Street Pepe has raised over $13M in presale funding in just 24 hours, with more than $5.5M pouring in during the final stretch.

It’s not just another meme coin: $WEPE combines the spirit of the Wall Street Bets movement with the internet’s beloved frog. Think of it as the finance and meme love child.

Investors are drawn to its mix of humor, utility (staking and governance), and nostalgia. If you want to join the underdog rebellion, this could be your ticket.

iDEGEN – Revolutionizing Crypto Trading with AI-Driven Insights and Automation

AI meets crypto with iDEGEN, a platform bringing advanced trading algorithms to everyday investors.

After releasing its upgraded AI v2, this project pulled in an impressive $1M in just 24 hours.

Imagine having a Wall Street-grade trading bot in your pocket, minus the suit and tie. iDEGEN promises to level the playing field for crypto traders with predictive insights and automated tools.

If you’re tired of staring at charts and want tech to do the heavy lifting (like generating insights, trading strategies and recommendations), this one’s for you.

Solaxy – Powering the Future of Clean Energy with Blockchain Innovation

Solaxy is turning heads with its decentralized solar energy marketplace. It connects energy producers and buyers through blockchain, creating a seamless and efficient way to trade clean power.

$SOLX isn’t just about clean energy. It’s about democratizing access to it. The eco-friendly mission is a major draw for early backers, and the numbers don’t lie – $SOLX raised $3M in its first week of presale.

With renewable energy gaining global traction, $SOLX is positioning itself as a shining opportunity for green-conscious investors.

If sustainability and tech excite you, this presale might be worth a look.

Dogizen – The Meme Coin with Purpose, Utility, and Big Exchange Buzz

Why settle for just another meme coin when you can have one with serious buzz and utility? Dogizen combines the playful spirit of meme coins with ambitious plans, capturing both the fun and the fundamentals of crypto investing.

Dogizen has already raised $1.8M, fueled by rumors of a Binance listing. It blends meme culture and community rewards, including staking, revenue sharing for $DOGIZ holders, and ecosystem expansion.

The buzz isn’t just about the memes, it’s about potential.

Think of Dogizen as $DOGE’s younger, tech-savvier sibling, who has both charm and utility. Plus, with whispers of major exchange support, the hype train isn’t slowing down anytime soon.

Crypto Presales: The Fast Track to Potential Gains – Are You Ready to Join the Ride?

Crypto presales are like early-bird tickets to the next big show.

Whether you’re betting on the internet’s love of memes, the future of AI, or renewable energy, these projects show why early adoption can pay off big.

But as always, do your research and invest responsibly – because in crypto, what soars can also flop just as fast.

Глава Банка России Эльвира Набиуллина завила, что ЦБ выступает против использования цифровых активов в качестве средств платежа на внутреннем рынке и не будет вкладывать ресурсы в развитие криптовалютной занятости населения.

Роман Шторм обратился в суд с ходатайством о снятии с него уголовных обвинений на фоне отмены санкций против программного обеспечения сервиса криптомикширования Tornado Cash.

Автор книги о финансах «Богатый папа, бедный папа», бизнесмен и криптоэнтузиаст Роберт Кийосаки заявил, что никогда не поздно начать покупать первую криптовалюту, независимо от того, насколько высока ее стоимость.

From a viral sensation to a hotly anticipated meme coin, “Hawk Tuah Girl” is now the subject of a legal battle.

The digital asset developers named after the viral social media meme are now facing a legal battle filed in the US District Court for the Eastern District of New York.

At the center of the legal storm is the “$HAWK” token, which surged in value immediately after its launch and briefly hit a $490 million market valuation Wednesday before dropping  91%, with an updated market cap of $41.7 million.

More than a dozen investors immediately filed the complaint, with Alex Larson Schulz, Overhere Limited, Clinton So, and the Tuah The Moon Foundation as defendants.

$HAWK Started Strong, Then Crashes By 91%

The complaint filed by investors of the Hawk Tuah Girl-inspired meme coin was for violations of the existing federal securities laws.

Haliey Welch, the Tennessee woman who became a viral sensation, inspired the meme coin and was not included in the suit. Welch’s viral video attracted attention and millions of followers on social media.

Her popularity led to her developing podcasts, for which she invited many high-profile guests, including Wiz Khalifa and Mark Cuban.

Welch’s claim to fame was the basis for a cryptocurrency coin, $HAWK, introduced to the market last December 4th, with an initial market cap of $16.69 million.

Hours after its launch, the meme coin breached the $490 million market cap. However, the surge was momentary, as it plunged by 91%, dropping to a market valuation of just $41.7 million the next day.

Hawk Tuah: Following The Meme Coin Template

Meme coins have emerged as a popular category within the cryptocurrency sector. They are defined by their connection to viral posts, internet humor, and community engagement.

One reason for meme coins’ popularity is their accessibility, giving retail traders and first-time investors the chance to participate in the community.

According to reports, many of the $HAWK’s investors were first-time crypto buyers inspired by Welch’s viral popularity. The lawsuit pointed out that the steep decline in the token’s market value caused financial damages to investors.

The suit filed in a New York court has produced claims of insider trading and that some developers purposely abandoned the project after raising and gaining from the token’s price.

‘Hawk’ Token An Unregistered Security?

The complainants argued that the token showed the characteristics of an unregistered security based on previous legal decisions and cases.

They added that the project’s developers used Welch’s popularity and social media engagement to market the token and create unique branding.

The complainants further argued the token’s initial success was based on Welch’s entrepreneurial skills and almost zero investor participation.

Meanwhile, market commentators say that the $HAWK’s collapse and allegations of insider trading may undermine current and future crypto projects.

According to George Georgiades of Borderless Innovations Lab Inc., meme coins have raised specific issues that the Securities and Exchange Commission has not addressed in the past.

Featured image from Tayfun Coskun/Anadolu; Kanawatth/Getty Images, chart from TradingView

The Shiba Inu price has crashed below $0.000022, declining by more than 20% in just one week. This massive crash has left 43% of SHIB investors facing losses. Moreover, the recent drop in the Shiba Inu price comes alongside a broader meme coin market decline, with top coins like Dogecoin, Pepe, and Bonk also experiencing a price crash. 

Investors In Loss As Shiba Inu Crashes Below $0.000022

The Shiba Inu price is struggling to maintain stability after experiencing devastating declines recently. The meme coin’s fall to $0.000020 has been a significant blow to its investors, marking one of the steepest declines in recent months.

While many analysts had forecasted price surges for Shiba Inu, the meme coin has instead been shedding gains. This downturn has been heavily influenced by the broader bearish market conditions and the recent declines in Bitcoin, which continue to weigh on the entire crypto market. 

For investors who entered the market during price highs, the recent crash has been a sobering experience and a reminder of the crypto market’s inherent volatility. Specifically, meme coins, known for their highly speculative nature, are prone to erratic and sharp declines that typically take the market unawares. 

According to data from IntoTheBlock, 43% of Shiba Inu investors are at a loss, while only 53% have seen profits. Additionally, ITB’s on-chain signals indicate that Shiba Inu is mostly bearish, with key indicators like Net Network Growth, large transaction volume, and concentration in the negative.  

CoinMarketCap reports that Shiba Inu is on a downward trajectory, losing 12.6% of its value in the past 24 hours. Over the last week, the doggy-themed meme coin plummeted by a staggering 25%, compounding its losses from the past month, when it recorded a 15% decline. 

Amidst the declining SHIB price, whales are also selling off their holdings rapidly. Blockchain wallet tracker LoonOnChain revealed on X (formerly Twitter) that an anonymous whale recently sold 250 billion SHIB valued at $6.05 million. The whale had initially spent $3,800 to buy 15.28 trillion SHIB as early as August 6, 2020, making gains of up to $109 million from his investment. 

Meme Coins See Sharp Decline; Analyst Calls Bottom

According to Bitfate on X, meme coins have entered the red zone this week, with sharp declines driven primarily by panic selling among holders. Coingecko has also disclosed that the meme coin market cap has experienced a 16% decline, spiraling down to $97.4 billion. 

Nick Garcia, a crypto analyst, has called a potential meme coin bottom, highlighting that large-cap meme coins are currently lagging while mid-tier cryptocurrencies have seen one of the worst declines. 

Furthermore, a crypto trader, Isak, commented on the bearish performance of meme coins, highlighting that the recent decline in Bitcoin has significantly influenced this downturn. The trader revealed that most meme coins are 90% down from their ATH, while altcoins have plummeted significantly. Consequently, Isak has suggested that the bear market is in full swing, signaling the end of the bull market.

Days back, Dogecoin, the largest dog-themed meme coin, witnessed a notable setback, causing a sharp drop in its price to critical support levels. Despite the recent waning performances, several key developments suggest that DOGE might be preparing for its next major rally to new heights in the short term.

A Robust Rally To Higher Levels Incoming For Dogecoin

Although Dogecoin is struggling to move upward, seasoned market expert and investor Kevin foresees a bullish outlook for DOGE in the near term. In his analysis, Kevin cited crucial indicators that point to the time frame that the much-anticipated next surge could begin for the meme coin.

Referencing past cycle trends and present price conditions, the expert’s prediction implies that the current consolidation phase might be ending shortly. With key indicators showing rising momentum, the expected upswing may fuel a much larger rally, pushing the meme coin to unprecedented levels.

Examining Dogecoin’s current price action, Kevin highlighted that DOGE has risen above the crucial level of 43 on the daily Relative Strength Index (RSI). According to the expert, Dogecoin never dropped below level 43 on the daily RSI during the last bull market. 

Specifically, the 43 level on the daily RSI is critical since this was the bounce zone that resulted in three consolidation phases that led to new highs. Recent data shows that the meme coin‘s daily RSI has increased to level 47.

Furthermore, Kevin noted that throughout the last bull market, Dogecoin never lost the zero line on the daily Moving Average Convergence Divergence (MACD). This robust maintenance at the crucial indicator also served as a springboard to greater height when reached. Meanwhile, looking at the present price trend, the chart shows that the market will hit the zero line in about 3 to 4 days.

Should the ongoing cycle mirror these past cycle trends, the market expert contends the current consolidation period is likely coming to an end in at least a week. As a result, Kevin is confident that DOGE’s next rally toward higher levels may begin around Christmas. Thus far, investors and traders are monitoring key support levels for a potential rebound as they anticipate the next significant leg-up.

A Rebound On The Horizon?

Dogecoin could be regaining its upside momentum once more as Trader Tradigrade, a crypto analyst, has predicted a potential recovery, noting that DOGE’s daily RSI has entered a critical rebound zone. Trader Tardigrade forecast is based on a previous scenario that triggered notable price spikes.

The last time DOGE‘s daily RSI reached the zone in September this year, the meme coin experienced a local bottom at $0.095. Following the development, DOGE rose significantly to the $0.48 price level. Given the same degree of gain prediction, Trader Tardigrade believes Dogecoin might surge to $1.35 from the zone.

Crypto analyst Trader Tardigrade has provided insights into the current Dogecoin price action. The analyst revealed that Dogecoin is currently stuck in a range amid the recent crypto market crash and suggested what could happen if the foremost meme coin breaks out of this range. 

Dogecoin Price Stuck In A Range, What Could Happen Next?

In an X post, Trader Tardigrade stated that the Dogecoin price is moving in a range. The analyst added that a breakout of the range could continue the DOGE uptrend. The analyst’s accompanying chart showed that Dogecoin could finally reach the much-anticipated $1 psychological price level when this uptrend continues. 

This will mark a new all-time high (ATH) for the Dogecoin price, whose current ATH is at around $0.73. The chart also showed that this projected rally to $1 could happen before the year ends. This will undoubtedly cap a perfect ending to the year for Dogecoin, which has already enjoyed a year-to-date (YTD) gain of over 245%.

In an X post, the crypto analyst explained why a bullish reversal could be imminent for the Dogecoin price. He stated that Dogecoin’s daily Relative Strength Index (RSI) has fallen back to a potential rebound zone. The analyst further noted that at this RSI level, DOGE hit a local bottom at $0.095 earlier in September, followed by a parabolic rally to $0.48. If the foremost meme coin were to replicate this price gain, then it could reach $1.35 from its current level. 

Trader Tardigrade continues to provide a bullish outlook for the Dogecoin price. In another X post, he stated that Dogecoin’s surge in every cycle follows a two-step jump fashion. In line with this, the crypto analyst stated that the reasonable projection for the Dogecoin top in this market cycle is between $3 and $4. 

An Analysis Of DOGE’s Price Correction

In an X post, crypto analyst Kevin Capital provided an in-depth analysis of the Dogecoin price correction, which has extended for over a month. The analyst noted that Dogecoin had the weekly golden cross towards the election period but never experienced a pullback as it did in the 2021 bull run when this weekly golden cross happened. 

Kevin Capital believes that the current pullback is the one that the Dogecoin price should have witnessed back then, which is common when they receive these golden crosses. The analyst further noted that Dogecoin recorded three 50% corrections in the last bull run on its way to a cycle top. 

As such, historically, the crypto analyst stated that if the Dogecoin price taps the macro structured support and the macro golden pocket, that would represent about a 45% correction and would just be enough for DOGE to resume its uptrend. The analyst added that he would only start to worry if Dogecoin loses the $0.26 level on a weekly close. 

At the time of writing, the Dogecoin price is trading at around $0.30, down over 14% in the last 24 hours, according to data from CoinMarketCap. 

In a livestream broadcast on December 19, 2024, Cardano founder Charles Hoskinson delivered new remarks on the conflict with the Cardano Foundation, structural complications, and strategic priorities moving into 2025.

“It’s About Governance”

Hoskinson began by acknowledging the shift from “governance on paper” to “governance reality” throughout 2024, referencing a series of “deep and significant governance conversations” during the December Constitutional Convention. He highlighted the historical trajectory of the Cardano Foundation’s board composition and jurisdictional issues dating back to 2014, as well as disputes that arose in 2021 and earlier.

He described the Foundation’s origins, including the initial founding by Michael Parsons on the Isle of Man and the subsequent relocation to Switzerland. According to Hoskinson, the legal entity known as a “Stiftungsrat” (foundation) had been repurposed from a structure not originally intended for decentralized cryptocurrencies: “The stiff tongue structure, the structure that the Foundation is, was never intended for cryptocurrency foundations.” He noted that attempts were made to transition the Foundation’s jurisdiction to a members-based organization better suited to community oversight and decentralized governance, but these efforts were ultimately thwarted by internal board conflicts and regulatory intervention.

Hoskinson further detailed a period in which the majority of the Foundation’s board advocated relocating and restructuring the entity. He stated that a minority faction opposed these moves, initiating a legal dispute. Following a ruling in favor of the majority, an administrator appointed by the Swiss regulator (Eidgenössische Stiftungsaufsicht, ESA) intervened to force board changes. This intervention, according to Hoskinson, effectively allowed the Swiss government, through its administrator, to determine the new board composition. Although he acknowledged potential semantic debates, Hoskinson Cardano Foundation Under Swiss Government Control, Charges Hoskinson: “To me that sounds like the Swiss government appointed the board.”

In Hoskinson’s view, the current Foundation structure lacks the most critical element of decentralized governance—community accountability. “I do not believe something that calls itself the Cardano Foundation should be structured in a way where its board can never be held accountable by the Cardano community and its board chooses its own successors,” he stated, adding, “You can never recover from that original sin until you correct it.” Hoskinson added, “My complaint is not about people, it’s about governance.”

He described various efforts to create more suitable governance bodies and entities, including the development of Intersect and outreach to other ecosystem contributors. According to Hoskinson, Input Output Global (IOG) encouraged the Foundation to join new organizational structures conducive to community oversight, funding, and inclusive decision-making. However, the Foundation launched its own initiatives, such as Pragma, without providing IOG a corresponding opportunity to participate.

Cardano’s Path For 2025

Looking ahead to 2025, Hoskinson underscored two remaining steps for Cardano’s governance transformation: ratifying a community-approved constitution and establishing an annual on-chain budget. Both steps, he noted, would allow for broader participation and resource allocation to ecosystem developers who have been historically underfunded. “We are in a very competitive industry and we have to have the cognizance that we need to spend as an ecosystem to grow and thrive,” he said, urging the community to consider the importance of distributing treasury funds to core builders, innovators, and infrastructure projects.

He conveyed concern that the Cardano Foundation, if it voted “no” on the forthcoming budget, could hinder long-term ecosystem growth. While he stated that this would not directly affect IOG’s operations or technology initiatives, it could impact developers and community participants in need of stable, sustainable funding: “If they were subject to community oversight… maybe it’s not a good thing to have so much ADA accumulated voting no for absolutely necessary funds for the ecosystem to grow.”

Despite these governance challenges, Hoskinson remained optimistic about Cardano’s trajectory. He reaffirmed IOG’s commitments to adoption, interoperability, and technological advancement independent of on-chain governance outcomes. He highlighted the upcoming Bitcoin integration, enhancements to the Lace wallet, and the anticipated impact of the privacy-focused Midnight sidechain. “Midnight will be the single biggest economic event for the Cardano ecosystem in its history. It’s going to airdrop to more than a 100 million people and build bridges with all the major networks and bring people together,” said Hoskinson.

To further strengthen Cardano’s position, IOG plans to enhance core ecosystem functionalities, improve critical tooling and standards, and secure necessary integrations with custodians, wallets, and other platforms. Hoskinson emphasized that IOG would not seek treasury funding for these moves, instead choosing to invest its own resources: “We’re going to get Bitcoin to work with Cardano and we’ll be there at Bitcoin 2025 with a great demo.”

At press time, ADA traded at $0.79.