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The Ultimate Layer 2: Solaxy Combines Ethereum’s Strength with Solana’s Speed for DeFi Domination
It’s been under a week since the launch of the $SOLX presale, but Solaxy’s native token is taking no prisoners. After raising $350K in its first 24 hours, just five days later, that tally has skyrocketed to $2.85M.
Crypto investors are clearly excited by Solaxy’s plan to build a Layer 2 protocol that will build on Solana, incorporating all its good bits and massively improving on where it’s been falling short.
Solana’s super-high transaction volumes (178.75M over the past seven days, according to DappRadar) are driven mostly by meme coins, and have resulted in some congestion issues and failed transactions.
That’s why this is great news for crypto investors – particularly those trading meme coins. Solana is, after all, the platform where the majority of meme coins are launched and traded. But it’s not just Solana that’s set to score.
As a multi-chain solution, Solaxy will bridge that critical divide between the big boys of blockchain – Ethereum and Solana. And that means making the most of the high liquidity and security that Ethereum’s DeFi ecosystem brings to the table.
Ethereum and DeFi go hand-in-hand, with a total value locked of $131.42B. That said, Solana is also a key player in the DeFi arena – second to Ethereum, with $14.33B in total locked value. And that’s one of the major reasons behind investors clambering to buy $SOLX – DeFi domination is imminent.
If you want to secure your spot in the first Solana Layer 2 presale, visit the official Solaxy website now.
Solaxy’s Meteoric Presale Is On FireThe $SOLX presale launched at a cool $0.001. But that was a week ago, and the price has now risen to $0.00157. And, with a total token supply of 138,046B, staking rewards are currently estimated at an impressive 1,239% per annum.
The next price stage begins tomorrow in less than 10 hours, when the $SOLX kitty is expected to hit the $3.132M mark.
As for the $SOLX tokenomics, 30% has been allocated to the development of that all-important Layer 2 ecosystem, and 25% for early bird rewards. The remaining amount is split between the project’s treasury (20%), marketing (15%), and listing the $SOLX on DEXs and CEXs (10%).
How to Buy $SOLX$SOLX can be bought with $ETH, $USDT, and by credit or debit card. $BNB is another payment option. But be warned, you’ll lose out on the annual staking rewards if you choose to purchase presale $SOLX with $BNB.
As for the card payment option, you will need to link your credit card to a crypto wallet before making a transaction. The Solaxy website recommends that potential investors who don’t yet have a crypto wallet download the Best Wallet app.
Best Wallet is a good choice – it’s free, secure, and offers lower transaction fees. And, importantly, it’s a non-custodial wallet in the form of a mobile-only app. Unlike many other crypto wallets that belong to centralized exchanges or companies, Best Wallet gives users full and sole control over their wallet.
Here’s Why The Dogecoin And Shiba Inu Prices Crashed Violently
Dogecoin and Shiba Inu prices have significantly crashed in the last 24 hours. This is partly due to Jerome Powell’s speech, which painted a bearish picture for crypto assets despite the announcement of a 25 basis point (bps) rate cut.
Why The Dogecoin And Shiba Inu Prices CrashedThe Dogecoin and Shiba Inu prices are both down over 5% in the last 24 hours. This price crash has happened despite the Federal Reserve announcing a 25 bps rate cut. One major reason for this price crash is believed to be due to Fed Chair Jerome Powell’s speech, which painted a bearish picture for these crypto assets.
Powell hinted in his speech that the Fed was currently ‘hawkish’ despite the 25 bps rate cut. He also suggested that there would likely be fewer rate cuts in 2025, having already made three rate cuts this year. The Fed being hawkish is bearish for the Dogecoin and Shiba Inu prices as investors become more skeptical about investing in these risk assets.
In Dogecoin’s case, crypto analyst Kevin Capital had mentioned that the meme coin’s technical indicators were currently bearish but added that it could be invalidated if the Fed took a dovish stance. However, that didn’t happen, meaning that the Dogecoin price could even plunge further, seeing as fundamentals and technicals are bearish.
Meanwhile, Powell’s take on the Strategic Bitcoin Reserve is another factor that could have contributed to the price crashes of Dogecoin and Shiba Inu. The Fed Chair mentioned that the US Central Bank is not allowed to hold Bitcoin and is not seeking a law change. That statement caused the price of Bitcoin to drop below $100,000.
The Dogecoin and Shiba Inu prices share a positive correlation with the flagship crypto, so it was expected that they would also follow suit as BTC corrected. If the Bitcoin continues to drop, then the Dogecoin and Shiba Inu prices are also at risk of further declines.
What Next For DOGE?In a recent X post, Kevin Capital mentioned that the bias is to the downside in the short term for the Dogecoin Price. This came as he revealed that Dogecoin has witnessed seven straight candles in a row and failed to get above the Macro .786 Fib. The analyst added that DOGE is also losing the macro .5 Fib on the linear chart.
Meanwhile, Kevin also alluded to Bitcoin, considering the impact the flagship crypto could have on the Dogecoin and Shiba Inu prices by extension. The analyst stated that Bitcoin is getting rejected at the macro 1.703 level and printing a bearish daily candle while having a massive amount of long liquidity to the downside.
However, the analyst is confident these coins will still regain bullish momentum. He stated that people are overreacting to Powell’s speech and that the dip will be bought. In line with this, he remarked that this is a normal market correction.
Джон Рид Старк: Суд вынес неверное решение по делу Ripple
How Crypto Losses Can be Used to Offset Your 2024 Tax Bill
Cryptocurrencies are going through a very good period right now, and some people are likely to walk away with a nice return on their investment as 2024 draws to a close. But this is also good news for the IRS when it comes time for your next tax bill.
When it comes to keeping your tax bill as low as possible, however, crypto losses can also be your friend. You can use them to offset profits you made elsewhere in your crypto portfolio. With good times potentially ahead for crypto coins like Solaxy ($SOL), your tax position is something you should be looking at sooner rather than later.
Crypto Profits Are Taxable ProfitsMeme coins are in the ascendant right now, with many of them – Crypto All-Stars ($STARS), Wall Street Pepe ($WEPE), and CatSlap ($SLAP), to name a few – promising high staking yields and higher prices. As investors take advantage of the bullish markets, it can be hard to forget that a percentage of any profits legally need to go to the government.
The IRS is making big changes to the rules starting on January 1st, so unless you do a bit of advance planning, you could find yourself handing over more of your crypto wins to Uncle Sam than you’d hoped for. Thinking ahead to your next one or two tax bills, therefore, makes sense, including how to offset them with your losses.
Of course, we’re not lawyers or accountants, so we can’t give tax advice. We can give you some broad strokes hints, but you should always double-check everything we say with your accountant. Everyone’s tax liabilities are different, so what applies to some people won’t necessarily apply to others.
So When Does Crypto Become Taxable?It helps to start by defining what the IRS considers to be taxable when it comes to crypto. According to this Forbes article, you’ll need to pay tax on your crypto gains when you’re:
- Selling any of your crypto balances for fiat currency
- Trading one cryptocurrency for another one
- Spending your crypto balance on goods or services (many wallets, like Coinbase, now offer debit cards)
- Earning crypto through staking, mining, or rewards, which is something investors really need to watch out for, when staking new meme coins
- Receiving airdrops or hard forks
If you’ve done any of these things during 2024, you need to ask your accountant for a Form 8949, Schedule D, or Schedule 1.
So, How Can Your Crypto Tax Bill Benefit From Losses?You should ideally be putting aside 25%-30% of your crypto wins for the tax man. But you could potentially make your bill lower by adding your crypto losses to the tax return. This is completely legal. However, you need to do this by December 31st to take advantage of this for your 2024 tax bill.
Using losses to offset a tax bill is known as tax loss harvesting. This is when you look at your assets and decide which ones are underperforming and currently causing losses for you. You can then sell them at a loss and report that loss to the IRS, who will then hopefully accept them and take them off your bill. In some cases, those losses may even apply to tax bills in future years.
This all serves to illustrate that making losses can have a silver lining.
Signs Look Good For SolaxyAt the beginning of the article, we mentioned Solaxy ($SOL) which is one coin doing extremely well at the moment. It’s the first Solana Layer 2 protocol designed to tackle congestion and scalability issues, which is what’s getting it a lot of attention right now.
While others like Wall Street Pepe and CatSlap are slightly declining at the moment, Solaxy is going in the opposite direction. It’s seeing gains of almost 200% with a current token price of $0.00001839, and a staking APY of 1,280%. So this would definitely be one to consider including in your portfolio.
Don’t Take Our Word as Gospel – Consult an Accountant!What we’ve outlined here are merely generalizations. You should always consult an accountant or a tax lawyer to make sure the rules apply to your current situation. Like investing in new crypto possibilities, always do your own research!
В JPMorgan заявили о наступлении «новой эры» крипторынка
Bitcoin Reclaims Strong Correlation With S&P 500 – What This Means For BTC
Bitcoin has surged past its all-time high again, reaching an impressive $108,300 and solidifying its position as the market leader. This rally marks a continuation of Bitcoin’s push into price discovery, fueled by growing investor demand and positive global market sentiment.
Notably, many major markets, including U.S. stocks and gold, are also experiencing upward momentum, creating a favorable macroeconomic environment for Bitcoin’s price action.
Top CryptoQuant analyst Axel Adler recently highlighted Bitcoin’s renewed strong correlation with the S&P 500 index, which currently stands at 83%. This connection underscores how BTC is increasingly viewed as a risk-on asset, moving in tandem with traditional financial markets. Adler’s analysis suggests that Bitcoin’s price performance could continue to mirror broader market trends, potentially leading to even greater heights if global equities maintain their bullish trajectory.
As Bitcoin navigates this historic rally, analysts and investors closely monitor the market for clues about its next moves. With global markets aligned and BTC maintaining strong correlations, the stage is set for further price discovery. However, all eyes remain on whether BTC can sustain its momentum and reach new highs in the coming weeks.
Bitcoin Joins Traditional MarketsBitcoin has evolved from a niche digital asset to a globally accepted store of value, with its increasing mainstream adoption playing a key role in its market movements. Over the past four years, Bitcoin’s price action has often mirrored broader market trends, especially during strong growth in traditional assets like the S&P 500 and NASDAQ. This growing relationship highlights Bitcoin’s transition into a risk-on asset, now seen as part of a larger global financial ecosystem.
Top CryptoQuant analyst Axel Adler recently shared important insights revealing that BTC is once again strongly correlated with the S&P 500, with the current correlation at an impressive 83%.
This marks a significant shift from September, when the correlation was a negative 80%. During that time, BTC was undergoing a correction while the S&P 500 was pushing toward a new all-time high. The negative correlation observed back then reflected a market divergence, with BTC and traditional equities moving in opposite directions.
Typically, a high positive correlation between Bitcoin and the S&P 500 signals that both markets are trending in the same direction, often due to shared macroeconomic factors like investor sentiment and global economic conditions.
The current positive correlation suggests that Bitcoin’s rise is in tandem with the broader financial market’s bullish momentum, which bodes well for further price discovery. As both markets continue to climb, BTC may experience even stronger upward movement, benefiting from the continued growth of global equities.
BTC Visits Uncharted TerritoryBitcoin is trading at $105,200, showing strong momentum after a solid bounce from the previous all-time high (ATH) at the $103,400 level. This bounce is a bullish signal, indicating that BTC maintains its upward trajectory and continues to push into price discovery. BTC holding above this key support level highlights growing investor confidence, suggesting that further gains are likely in the coming days.
If BTC can hold above the critical $104,000 mark in the short term, it would pave the way for a challenge to the $110,000 level. A successful move past $110,000 would mark a new milestone in Bitcoin’s price action, potentially leading to further exploration of uncharted territory.
However, if selling pressure begins to intensify, BTC may experience a retrace back to the $100,000 mark. This level could act as key support, offering a chance for the market to find demand before continuing its rally. Overall, Bitcoin remains in a strong uptrend, and the next few days will be crucial in determining whether it can continue pushing toward new highs or face a temporary pullback.
Featured image from Dall-E, chart from TradingView
Last Chance to Buy $STARS Token in Presale as Investors Rush Ahead of DEX Launch
Just yesterday, Crypto All-Stars ($STARS) announced that it raised $21 million. Today, the counter stands at a staggering $23 million as investors flock to secure their share of $STARS before the presale ends.
A broader meme coin rally in November could’ve benefited $STARS, but such a success wouldn’t have been possible if not for its unique utility. Crypto All-Stars presents the world’s first unified staking platform MemeVault, which allows you to earn passive rewards on your favorite meme coins.
Let’s unpack why $STARS is drawing the community’s attention and why the stars have aligned perfectly for its launch.
Chill Guys Lose It, Penguins Fly, $STARS AlignIt’s true that some recent top gainers, like Dogecoin ($DOGE), Just a Chill Guy ($CHILLGUY), and First Convicted Raccoon ($FRED), saw dramatic corrections this week.
However, new stars appear on the meme coin skyline daily. While some fall, new projects like Pudgy Penguins ($PENGU) record 500%+ gains.
$STARS is one such sensation. Unlike meme coins that rely on hype alone, $STARS’ meteoric rise has to do with its underlying staking platform, MemeVault.
Holders of popular meme coins like $DOGE, $PEPE, $SHIB, $BRETT, and $MOG can stake their tokens in the MemeVault to earn passive yields in the form of $STARS. At launch, MemeVault will support the top 11 meme coins, but the project team plans to add more in the future.
This approach future-proofs $STARS because it doesn’t depend on the demand for just one token. Instead, it can attract the entire meme coin community, ever-expanding like the universe itself.
The word of $STARS has spread far across the meme coin space and drew not just degen investors but also whales. Yesterday, a single investor bought over $75,000 worth of $STARS.
Big buys like these make influencers like ClayBro believe $STARS price will double soon after launch.
$STARS to Conquer DEXs First, Are Tier-1 CEXs Next?$STARS started at a humble price point of $0.00138 and is now selling 21% above that, at $0.0016782. This is the final price before the $STARS presale ends, and holders can claim their tokens.
MemeVault welcomes every degen investor, regardless of their participation in the presale. However, early $STARS adopters will benefit from higher staking rewards within the ecosystem, which means now is the last chance to maximize your potential earnings.
And there’s still time to stake your $STARS at a 144% APY. Rewards will be distributed over two years at a rate of 2801.44 $STARS per $ETH block.
The Crypto All-Stars project team doesn’t openly disclose upcoming listings, but rumor has it we might see $STARS on tier-1 centralized exchanges like Coinbase. It’s likely that $STARS will test the waters on decentralized platforms like Uniswap first.
To ensure smooth trading, Crypto All-Stars allocated 10% of the total token supply to liquidity. Another 20% is reserved for marketing to expand the project’s reach globally and – who knows – launch $STARS right to the moon.
Last 26H to Buy $STARS Before Token ClaimThe Crypto All-Stars presale ends tomorrow, and FOMO is through the roof. With just 20% of the total token supply available on presale, investors are rushing to secure their share of $STARS before it sells out.
To buy $STARS, visit the official Crypto All-Stars website, connect your wallet, and buy tokens using $ETH, $BNB, $USDT, or fiat. Then, follow the Crypto All-Stars X and Telegram channels so as not to miss token claim updates.
Remember to do your own research because nothing is certain in life except death and taxes (and, perhaps, $BTC hitting $110,000 this market cycle).
МВФ: Власти Сальвадора пересмотрели политику по отношению к биткоину
DOGE Price Prediction: Can DOGE Surpass $1 in Q1 of 2025? Investment Analysts Place Their Bets on This $0.12 ICO
As the crypto market braces up for a new bullish rally in 2025, analysts are focusing on high-performing assets that could lead the charge. Among these, Dogecoin stands out as a contender with growing mainstream adoption and a loyal investor base.
Despite its fun and viral start, DOGE has surged in value over the years, trading at $0.3853 at the time of writing. With the token -48% away from its All-Time High price ($0.7376), investors wonder if DOGE can surpass $1 in the first quarter of 2025. As we find the answers, crypto analysts are betting on a new ICO, DTX Exchange, valued at $0.12.
DTX Exchange (DTX): A Comprehensive Trading Platform Captivating Investors and AnalystsDTX Exchange is a new project redefining the online trading experience by integrating the strengths of centralized and decentralized platforms. It does this by combining the security of decentralized exchanges with the liquidity of centralized exchanges.
This unified platform provides access to a portfolio of financial instruments, from stocks, ETFs, cryptos, forex, and more. As such, it reduces the need for traders to explore multiple exchanges, thereby increasing efficiency, security, and user convenience.
Notably, DTX Exchange is powered by an innovative blockchain, VulcanX, which ensures exceptional performance with a throughput of over 100,000 transactions per second (TPS). This technology, combined with an average execution trade time of just 0.04 seconds, guarantees traders a reliable and fast trading experience.
In addition, DTX features analytical tools such as real-time charting tools for users to make data-driven decisions and capitalize on quick market moves. Another standout of DTX Exchange is its non-custodial storage and wallet trading, which ensures traders retain full control over their assets. As such, it’ll foster trust and safety among traders seeking security and transparency in this hybrid ecosystem.
It’s no surprise that DTX Exchange is doing well in its ongoing presale; it has raised over $10 million so far. With the potential to list on top-tier exchanges like Binance, Uniswap, and ByBit, analysts predict potential growth for this coin, with some forecasting a 500% surge in value post-presale.
With over 300k wallet addresses already onboard, this project is gaining momentum as an all-in-one solution for traders worldwide. Eager investors can purchase DTX tokens at $0.12.
Can Dogecoin (DOGE) Surpass $1 in 2025?Ranking #1 in the meme coin sector, Dogecoin has become one of the go-to meme projects among top investors and traders. With Elon Musk leading the Department of Government Efficiency (DOGE) in this new American political landscape, Dogecoin continues to surge in value.
As the new bull cycle approaches, many investment analysts believe that Dogecoin can reach the $1 milestone. Given Elon Musk’s constant involvement, DOGE can almost certainly achieve that price.
However, the token’s dependency on celebrity hypes and a favorable crypto landscape renders it susceptible to fluctuating price action. There’s also the supply issue, as Dogecoin has an infinite amount of DOGE minted. This situation partly undermines the crypto’s capacity to maintain and boosts its value.
ConclusionAs a top crypto, Dogecoin continues to deliver speculative price action among experts and investors. With the bulls returning in full momentum, there’s a growing expectation that DOGE could return to its higher price and hit its $1 milestone in the first quarter of 2025.
While we wait, investors are checking out DTX Exchange, a project performing well in its early stages and ready to soar soon, thanks to its impressive utility. Its presale is still on, and there’s a good chance to hop in and enjoy remarkable gains now and in the future.
Find out more information about DTX Exchange by visiting the links below:
Crypto May See ‘Harrowing Dump’ Around Trump’s Inauguration, Warns Arthur Hayes
Prominent crypto market commentator and former BitMEX CEO Arthur Hayes predicts a “harrowing dump” in the digital assets market around President-elect Donald Trump’s inauguration. However, Hayes adds that the anticipated market crash will likely be followed by a strong bullish trend reversal.
Hayes Warns Against Overblown Expectations From TrumpRenowned crypto market analyst Hayes shared a new blog post outlining his views on the crypto market’s trajectory for the coming year. According to Hayes, the disconnect between the crypto market’s high expectations for Trump’s incoming administration and the political reality will likely spook investors, triggering a significant market sell-off.
Hayes points to the market’s unrealistic expectations from Trump, saying that it is “almost impossible for Trump to appease his base sufficiently to prevent the Democrats from retaking both legislative bodies in 2026.” As a result, Trump will have, at best, one year to enact any policy changes.
The crypto entrepreneur warned that the market’s realization of these limitations will trigger a “vicious sell-off” in digital assets. He revealed that his investment fund, Maelstrom, plans to book profits ahead of the anticipated sell-off and re-enter the market at lower prices during the first half of 2025. However, Hayes noted that he is open to “admitting defeat” if no market correction occurs by January 20.
Trump’s victory in the US presidential election has sparked fresh hope in the crypto market, resulting in BTC rising past $100,000 price level for the first time ever. At the time of writing, the total crypto market cap stands at $3.81 trillion.
Trump’s victory has also fuelled speculation about the creation of a potential national strategic Bitcoin reserve, a move that could spur competitive sovereign purchases by other nations. However, Hayes does not expect such a reserve to materialize anytime soon. He explained:
While I don’t believe the US government will purchase Bitcoin, it doesn’t affect my positive price outlook. At the end of the day, a gold devaluation creates dollars which must find a home in real goods/services and financial assets.
Contrasting Projections For BTC Price ActionWhile Hayes foresees an impending crypto market dump in early 2025, crypto financial services firm Matrixport predicts otherwise. According to a recent X post, the firm expects a “strong start” for BTC going into 2025.
Similarly, Standard Chartered bank estimates that BTC may climb up to $200,000 by 2025 as more institutions continue to accumulate the top digital asset. A recent report by crypto exchange Bitfinex also predicts further upside potential in BTC after its consolidation around the $100,000 price level.
Even more ambitious price targets were shared by Bitwise’s Matt Hougan, who said that buying BTC before it reaches $500,000 would still be considered “early.” At press time, BTC trades at $104,002, down 2.8% in the past 24 hours.
Секретная служба США арестовала у мошенника криптоактивы на $860 000
Bitcoin Bull Michael Saylor Willing To Advise President-Elect Trump On Crypto
Bitcoin (BTC) bull Michael Saylor, who is co-founder and Chairman of MicroStrategy, has expressed a desire to enhance “intelligent leverage” for the company’s shareholders as it continues its strategy of investing heavily in the market’s leading crypto.
MicroStrategy’s Shares Soar 500% In 2024In a recent interview on Bloomberg Television, Saylor highlighted that MicroStrategy holds $7.2 billion in convertible securities, with approximately $4 billion effectively acting as equity due to their favorable trading conditions.
He noted, “They are trading with a delta of approximately 100%, looking like equity,” indicating a strong correlation between the convertible bonds and the company’s stock performance.
MicroStrategy has emerged as a significant player in the cryptocurrency landscape this year, actively pursuing a bold plan to raise $42 billion exclusively for the acquisition and retention of Bitcoin.
The company’s shares have surged nearly 500% in 2024, significantly outpacing Bitcoin’s own 150% rise during the same period, attributed in part to the firm’s routine announcements of multi-billion-dollar Bitcoin purchases, which have taken place every Monday for the past six weeks.
Such activities have not only driven up MicroStrategy’s stock price but have also raised questions regarding the long-term sustainability of this aggressive investment strategy.
The firm’s fixed-income securities have attracted attention from hedge funds seeking convertible arbitrage opportunities, a strategy that involves buying the bonds while short-selling the underlying shares. This demand has facilitated MicroStrategy’s issuance of $6.2 billion in convertibles this year, further bolstering its financing capabilities.
Despite concerns about the viability of its investment approach, MicroStrategy’s market capitalization has soared past $90 billion, leading to its inclusion in the Nasdaq 100 Index at the end of trading on Friday.
This milestone could trigger over $2 billion in share purchases from funds that track the tech benchmark index, according to estimates from Bloomberg Intelligence.
Saylor Open To Crypto Advisory RoleIn a related note, Saylor revealed during the interview that he has been actively engaging with members of President-elect Donald Trump’s administration, signaling his willingness to contribute to discussions on constructive digital asset policies.
Saylor stated that he would be open to serving on an advisory council for digital assets if called upon amid Trump’s recent appointment of David Sacks, a former PayPal executive, as the first-ever “White House AI & Crypto Czar.”
As previously reported by Bitcoinist, this role is designed to oversee the development of government policies concerning artificial intelligence and crypto, a move that aligns with Trump’s campaign promise to reform US crypto regulations and foster an environment conducive to industry growth.
Sacks will be tasked with creating a legal framework to provide the clarity the crypto industry has long sought, enabling it to flourish within the United States. Trump remarked, “He will work on a legal framework so the crypto industry gets the clarity it has been asking for and can thrive in the US.”
Featured image from DALL-E, chart from TradingView.com