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Bitcoin Acquisition Continues: Semler Scientific Increases Holdings To 1,058 BTC
Santa Clara-based healthcare tech company Semler Scientific (SMLR) recently disclosed that it purchased an additional 47 Bitcoin (BTC), bringing its total holdings to 1,058 BTC.
Semler Scientific Continues To Increase Its BTC HoldingsSemler Scientific, a Nasdaq-listed healthcare manufacturer, announced that it bought an additional 47 BTC for $3 million. This acquisition comes as Bitcoin remains about 7% below its all-time high (ATH) value.
The firm accumulated 141 BTC between July and September for $8.4 million. The latest purchase of 47 BTC was made between the end of September and November 4, according to the firm’s Q3 2024 report.
The acquisition, valued at $3 million, has increased Semler Scientific’s total holdings to 1,058 BTC. The company indicated it plans to continue purchasing BTC.
Commenting on the development, Doug Murphy-Chutorian, chief executive officer of Semler Scientific, said:
We remain laser-focused on acquiring and holding bitcoin, while supporting innovation and growth in our healthcare business.
Semler Scientific embarked on its BTC acquisition journey in May 2024, when it purchased 581 BTC for $40 million. Later in September, the firm added 83 BTC to its reserves – purchased for $5 million.
The company seems to follow a strategy similar to MicroStrategy’s (MSTR) approach. Eric Semler, chairman of Semler Scientific, suggested that the company is exploring additional financing opportunities to acquire more BTC, mirroring MicroStrategy’s approach.
Despite this, Semler Scientific’s stock performance doesn’t align with MSTR’s trajectory. SMLR closed at $29.97 on November 5, down 2.31% for the day. Although the stock has risen by 8.31% over the last six months, it remains down 32.16% year-to-date (YTD).
In contrast, MSTR is up a remarkable 225.44% on a YTD basis. In the past six months, the stock price has risen by 75.75%, although the stock has taken a beating in the past month, sliding by 15.47%.
Semler’s Q3 2024 report shows that its net income increased to $5.6 million, up from $5.5 million in Q3 2023.
Company Bitcoin Reserves Becoming A Common TrendBesides Semler Scientific, MicroStrategy, and Tesla, an increasing number of companies are gradually warming up to the idea of having a BTC reserve.
Most recently, Japanese firm Metaplanet announced that it had bagged another 108 BTC, getting the firm closer to its ambitious target of holding 1,000 BTC.
This trend of adding BTC to corporate balance sheets is unsurprising, as several seasoned analysts have expressed optimism about BTC’s long-term prospects.
For instance, analysts at research firm Bernstein recently predicted that BTC reaching $200,000 by the end of 2025 is a ‘conservative’ estimate. BTC trades at $69,236 at press time, up 0.9% in the past 24 hours.
Соотношение капитализации эфира и биткоина упало до трехлетнего минимума
Сложность майнинга биткоина обновила максимум
Election Cycle Shake-Up: Crypto Industry Emerges As Major Player In 2024 Political Contributions
In a significant shift within the US political landscape, the crypto industry has surpassed traditional sectors in campaign spending during the 2024 election cycle, aiming to influence regulatory policies favorably.
An analysis of Federal Election Commission (FEC) filings by the blockchain analytics firm Breadcrumbs, in collaboration with FOX Business, reveals that the digital asset sector has raised at least $238 million thus far, outpacing contributions from the oil and gas, pharmaceutical industries, and major Wall Street players like Citadel.
Crypto Contributions Signal Urgent Need For ChangeThe substantial financial backing from the crypto industry comprises corporate donations to super Political Action Committees (PACs) and direct contributions to individual candidates from prominent industry figures.
The largest contributors include well-known entities such as crypto exchange Coinbase, blockchain payment company Ripple Labs, and venture capital firm A16z, which collectively donated around $160 million to pro-crypto super PACs supporting candidates aligned with the industry interests.
James Delmore, a research analyst at analyst firm Breadcrumbs, emphasized the significance of these donations from major industry players, telling FOX:
The crypto industry is sending a clear message to American politicians and elected officials: Current cryptocurrency regulations and policies are not working in the US.
This comes as the same donors, Coinbase and Ripple Labs, have faced increased scrutiny from the US Securities and Exchange Commission (SEC) over the past years, with lawsuits over the exchange and payments company’s crypto operations.
According to the data compiled by Breadcrumbs, out of the $238 million raised, approximately $181 million has been directed to super PACs. In comparison, $57 million has been allocated to individual candidates and their supporting committees.
Notable contributors include Ripple co-founder Chris Larsen, who has interestingly supported Vice President Kamala Harris, donating a substantial $11.7 million—largely in Ripple’s native token, XRP.
Meanwhile, Donald Trump has garnered over $22 million from various crypto industry leaders, reflecting the industry’s preference for candidates who favor less stringent regulations.
Wins Against Anti-Crypto CandidatesThe political contributions from the sector are indicative of a strategic effort to gain influence in Washington, particularly in light of the Biden administration’s regulatory approach, which many in the industry view as overly restrictive.
Former President Donald Trump has openly criticized the current regulatory framework and promised to fire SEC Chairman Gary Gensler on day one if elected to another term in the White House on Tuesday, further appealing to investors.
The industry’s financial influence is largely funneled through super PACs like Fairshake, which has raised $170 million and spent $135 million in this presidential election cycle. These PACs aim to support congressional candidates who are favorable to digital initiatives.
Fairshake has already succeeded in campaigning against candidates perceived as “anti-crypto,” such as California Rep. Katie Porter and New York Rep. Jamaal Bowman, who lost their primary races after facing significant ad spending.
However, Rick Claypool, research director at Public Citizen, criticized the extensive financial contributions from the digital asset sector, suggesting they represent an attempt to “sway” US democracy toward the industry’s interests, he stated:
The millions crypto corporations and executives are spending is a brazen attempt by a relatively small sector to distort US democracy to serve its profit-maximizing whims. By spending so much, the crypto sector has made its demands for light-touch regulation and minimal enforcement impossible to ignore.
Featured image from DALL-E, chart from TradingView.com
Binance пожертвовала $3 млн Красному Кресту Испании для помощи жертвам наводнения
Энтони Помплиано: Биткоин получил новый статус у крупных корпораций
Курс биткоина установил новый исторический рекорд
Vote Trump, Save Crypto? Harris Victory Could Lead To ‘Billions’ In Losses, Says Winklevoss
In a recent post on social media platform X (formerly Twitter), Cameron Winklevoss, co-founder of the US-based cryptocurrency exchange Gemini, issued a stark warning to the digital asset community regarding the implications of the ongoing election results.
Winklevoss, along with his brother Taylor, had previously publicly supported former President Donald Trump, donating $1 million in Bitcoin each to his reelection campaign.
Regulatory Fears Prompt Exodus Of Crypto Firms From USWinklevoss highlighted the significant financial toll that the Harris-Biden administration has imposed on the cryptocurrency sector, claiming that legal fees have reached $500 million.
This figure reflects the ongoing scrutiny from the US Securities and Exchange Commission (SEC), which has pursued lawsuits and issued Wells Notices to several major players in the industry, including Binance, Ripple, and Coinbase.
As a result, many firms have incurred substantial legal expenses while defending against regulatory actions, raising concerns about the administration’s approach to cryptocurrency regulation.
The co-founder expressed alarm over the prospect of a Kamala Harris presidency, suggesting that her administration could perpetuate the current regulatory landscape characterized by enforcement rather than guidance.
Winklevoss stated, “Vote Trump and this spending in legal fees goes to $0. Vote Harris and this figure will balloon to billions.”
Cameron Winklevoss’ comments have sparked responses from various industry experts, underscoring the broader implications of regulatory strategies on innovation and growth within the sector.
Wayne Vaughan, a Bitcoin advocate and co-founder of the Tierion blockchain, echoed Winklevoss’s concerns, emphasizing that legal fees are only part of the damage.
Vaughan pointed out that many companies have left the United States or abandoned product developments due to fears of regulatory repercussions, reflecting a growing frustration within the crypto community regarding the perceived hostility of US regulatory bodies.
James Murphy on the other hand, a securities lawyer and long-time proponent of the digital asset sector, also weighed in, suggesting that Winklevoss’s estimate of $500 million in legal costs might be conservative.
Murphy noted that this figure does not account for settlements paid to the SEC by projects unable to sustain prolonged legal battles, further illustrating the financial strain placed on the industry.
Blockchain Association Calls For Leadership Change At SECBitcoinist previously reported that according to a report by the Blockchain Association, a crypto-focused lobbying group, the cumulative cost of crypto firms fighting SEC lawsuits over the past few years has reached around $426 million.
This report, published on October 31, criticized the SEC’s “regulation by enforcement” approach, which it argues stifles innovation and economic growth. The association highlighted not only the legal expenses but also the job losses resulting from the regulatory environment.
The Blockchain Association called for a change in leadership at the SEC, framing the current regulatory strategy as a form of “lawfare” that undermines the potential of the crypto industry.
Kristin Smith, the group’s CEO, urged cryptocurrency users and developers to advocate for leadership change, although she did not specify any political affiliations or candidates in her message.
Featured image from DALL-E, chart from TradingView.com
2026 Midterms In Sight: Fairshake PAC Rallies $78 Million For Crypto-Friendly Politicians
The coming 2026 US midterm election could become the most cryptocurrency-centric election as digital currency advocates vowed to throw their full support to candidates who will allow the industry to thrive. Political super action committee (Super PAC) Fairshake and other groups are mobilizing crypto voters to elect policymakers who can create a more favorable regulatory landscape for the digital asset economy.
Fairshake: Pro-Crypto PoliciesChris Dixon, founder of a16z crypto, said that the result of the 2024 US elections would not wane down the commitment of crypto groups to legislators who will champion their industry.
Dixon remarked that irrespective of party affiliation, their group is committed to championing policymakers who will push for the establishment of a regulatory framework that protects crypto consumers and allows the digital asset sector to grow.
As proof, Dixon yesterday donated more than $23 million to Fairshake and its bloc to finance pro-crypto candidates in the 2026 midterm US election.
Achieving Crypto Policy GoalsDixon explained that giving monetary contributions to political action groups like Fairshake is one of the strategies being utilized to ensure that their industry will enact pro-crypto policies.
He said that Fairshake is a group established to support US lawmakers, both Republicans and Democrats who recognize that “crypto isn’t red or blue” but an essential component that will ensure the United States will still be the leader in technology in the upcoming years.
He noted that Fairshale has made great strides to bring and keep cryptocurrencies into the national conversation for the US election cycle, saying that his group is proud to continuously support the political action committee.
Campaign Funds For 2026 ElectionAlthough there are no winners yet for this year’s US election, cryptocurrency advocates are already setting their sights on the next US election in 2026.
CRYPTO BREAKING NEWS Fairshake discloses $78m crypto donation war chest. Crypto bigwigs and Silicon Valley mastodons rallied Fairshake’s coffers for the U.S. 2026 mid-term election cycle, even hours before America decides its next president. check us out… pic.twitter.com/GmN2KyMpLB
— InnovatekMobile (@Neome_com) November 4, 2024
Reports said that this early, Fairshake was able to raise $78 million to help pro-crypto candidates win the 2026 US election.
In an interview, Fairshake revealed that during this US election, it successfully raised about $170 million in campaign funds wherein an estimated $135 million was used to help pro-crypto candidates.
The political action group said that Coinbase, Ripple Labs, and Andreessen Horowitz were the major donors while the remainder were given by individuals, like the Winklevoss twins who donated $5 million, and other companies.
Lobbying With The US CongressDixon said that aside from campaign contributions, his group will not stop from engaging with US policymakers to explain the technology and its benefits.
“We will introduce them to entrepreneurs and creators building with blockchain technology to show first-hand the challenges they face when laws are murky but lawsuits are plenty,” he said.
He urged current and future lawmakers to pass legislation that will eliminate the “bad actors” in crypto as well as laws that will encourage competition in the stablecoin sector.
Featured image from Fairshake, chart from TradingView
Bitcoin Sees LTH Distribution As Price Climbs – On-Chain Indicator Confirms Bullish Environment
Bitcoin is entering what many consider the most pivotal week of this market cycle, not due to the looming U.S. election or the Federal Reserve’s upcoming interest rate decision, but because it’s on the brink of breaking all-time highs. If BTC crosses this milestone, it will enter “price discovery” mode, potentially sparking a massive rally across the entire crypto market.
This bullish anticipation is supported by data from CryptoQuant analyst Maartunn, who highlighted that Bitcoin Long-Term Holders sold an impressive 177,617 BTC in the last seven days.
This wave of selling from seasoned holders often signals a bullish phase, indicating they’re taking profits ahead of a potential market shift. This positioning aligns with BTC’s momentum near its peak, suggesting that many see current prices as ideal to lock in gains, possibly making room for fresh buyers and new demand.
With BTC so close to all-time highs, any upward breakout could shift the entire market’s sentiment and initiate a substantial bullish rally, marking this week as a critical period for BTC and the broader crypto landscape.
Bitcoin Entering The Bull Run PhaseBitcoin is entering the final phase of this cycle as it approaches all-time highs and flirts with uncharted territory. This pivotal moment has drawn significant attention from analysts and investors alike.
CryptoQuant analyst Maartunn recently shared the Balance Change by Time Held chart, revealing that BTC Long-Term Holders (LTH) sold 177,617 BTC in the last seven days. This chart illustrates the movement of older BTC, typically owned by investors with a long-term perspective.
Long-Term Holders are generally less impacted by market volatility compared to short-term speculators. Their activity often serves as a contrarian indicator; they tend to buy and increase their holdings during price dips and sell when prices surge. As BTC’s price has risen over the past few days, there has been a noticeable uptick in LTH distribution, signaling a potential shift in sentiment among these seasoned investors.
This behavior is reminiscent of patterns observed during previous bull runs in 2018, 2021, and 2024, where LTH activity was critical in price movements. The current surge in BTC’s price and increased selling from LTHs suggests that these investors might be taking profits ahead of a potential breakout, reflecting their confidence in the market’s trajectory.
As Bitcoin approaches its all-time highs, the dynamics between Long-Term Holders and the broader market will be crucial in determining whether it can sustain momentum and enter a new price discovery phase. This week could set the tone for the future of Bitcoin and the entire cryptocurrency market.
BTC Nearing ATHAfter dipping below this crucial level yesterday, Bitcoin is trading above the $68,000 mark. As it hovers just below $69,000, market participants closely watch the developments surrounding the US election. For bulls to reclaim momentum and push towards a bullish trajectory, BTC must break above the $70,000 mark in the coming days and challenge its all-time highs.
However, the current volatile environment and uncertainty surrounding economic factors could lead to price fluctuations that push BTC lower. If such a scenario unfolds, the key support level will be the $66,500 mark, a critical demand zone that upholds the bullish price structure. Maintaining support above this level is essential for sustaining the upward momentum and avoiding a deeper correction.
As the market awaits the election results, traders remain cautious, with price action likely influenced by the political landscape and broader economic sentiment. The coming days will be pivotal for Bitcoin as it seeks to establish a firm foundation to drive further gains and possibly enter a new price discovery phase.
Featured image from Dall-E, chart from TradingView
Bitcoin HODLers Switch To Selling Mode: Is This A Danger To BTC?
On-chain data shows the Bitcoin long-term holders have started a phase of distribution recently. Here’s what this could mean for BTC’s price.
Bitcoin Long-Term Holders Have Just Sold Over 177,000 TokensAs pointed out by CryptoQuant community analyst Maartunn in a new post on X, old coins have seen a negative balance change recently. Below is the chart from the market intelligence platform IntoTheBlock cited by the analyst, which shows the balance changes for different holder groups on the Bitcoin network.
The groups here have been divided based on holding time: investors who bought their coins within the past month fall inside the <1 Month cohort (colored in yellow), while those who bought between one and twelve months ago are put into the 1-12 Months group (pink).
In the context of the current topic, neither of these is of focus; the relevant cohort is the third one (blue), which contains the investors who have been holding for more than twelve months.
Statistically, the longer an investor holds onto their coins, the less likely they become to sell said coins at any point. Thus, the 12+ Months cohort would include the most resolute of the hands on the network.
From the chart, it’s apparent that these HODLers had been busy accumulating during the 2022 bear market and the 2023 recovery rally, but the trend has seen a shift in 2024.
During the first quarter of the year, the balance change of this Bitcoin cohort turned significantly red, implying that the long-term holders were taking the gains of their patience.
These diamond hands eventually saw their selling pressure dry up as the cryptocurrency’s consolidation following its new all-time high (ATH) stretched on until finally, their balance change hit completely neutral levels.
Recently, as bullish waves have returned for Bitcoin, the balance change for the group has turned red again, implying these HODLers have started selling once more.
As for what this could mean for the cryptocurrency, perhaps historical pattern could shed some light. “Long-Term Holder activity often acts as a contrarian indicator,” says Maartunn. “LTHs tend to buy (increase holdings) during price dips and sell (reduce holdings) during price surges.”
It’s visible from the chart, however, that while the LTHs do time their selling with bull runs, the actual top of the cryptocurrency doesn’t occur until their distribution has gone on for a lengthy period. This could potentially imply available room for BTC to go in the current rally, before a ceiling is hit.
Something that may invalidate the pattern, though, is the fact that the scale of selling from the LTHs has been less intense this cycle, as IntoTheBlock has pointed out in an X post.
“While long-term holders are selling, it’s less aggressive than in past bull peaks,” notes the analytics firm. Thus, it’s possible that the current Bitcoin cycle is establishing a new dynamic in the market.
BTC PriceAt the time of writing, Bitcoin is trading around $68,800, down more than 3% over the past week.
Mt. Gox Mystery: Defunct Exchange Moves Over $2 Billion In Bitcoin – Details
Mt. Gox is back in the news, this time, transferring 32,371 Bitcoin, valued at $2.19 billion at current prices, to an undisclosed address. The transaction from a defunct crypto exchange happened when Bitcoin’s market price was stuck in the $65k to $73k range and anticipating the results of the US elections.
Arkham Intelligence was one of the first firms to track the movement, stating that 32,371 BTC had moved out of the address. Arkham said that there were two transfers made out of the suspected Mt. Gox wallet: the first, amounting to 30,371 tokens to a wallet with an address that starts at “1FG2Cv…” and the second tranche, with 2,000 tokens to a cold wallet still owned by the former exchange, before being moved to another unnamed destination.
Mt. Gox Still Holds Over 44k BTCAccording to an Arkham Intelligence estimate, the defunct exchange boasts 44,378 BTC in its inventory, which is around $3 billion at current prices. Many experts say the current wallet movement is related to the planned settlement and repayment to creditors after it filed for bankruptcy in 2014.
Although the exchange is no longer operational, its crypto wallets remain active. For example, the exchange recently moved 500 tokens (around $35 million) to undisclosed addresses. The company did not share any information about this recent BTC transfer. Still, many observers speculate that it’s part of its efforts to cover its obligations as part of the settlement process.
A Bankruptcy Due To HackingBefore it filed for bankruptcy protection, Mt. Gox was considered the biggest crypto exchange platform. Founded in 2020, it processed more than 70% of global crypto transactions at its height.
Then, a series of hacks and security breaches from 2011 to 2014 targeted the company. During this period, the exchange lost around 850k BTC, making it one of the biggest crypto hacks in history. Although law enforcement managed to track and recover around 140k, this was not enough to save the exchange, which eventually filed for bankruptcy protection.
Repayment Deadline ExtendedAs part of the exchange’s bankruptcy plan and protection, it must repay its creditors and former customers. The exchange’s trustee extended the repayment deadline by one year, making the last week of October 2025 its new deadline.
Mt Gox faces a challenging repayment process involving billions of dollars. Due to its size, some analysts are concerned that the exchange’s former creditors can liquidate their digital assets, causing a sell-off. The top digital asset is trading at the $68k level and remained almost unchanged for the rest of the day.
Featured image from Protos, chart from TradingView
Solana’s Network Usage Skyrockets: On-Chain Transfer Volume Reaches New Height
Solana continues to demonstrate its robust stance in the broader blockchain sector following a recent significant increase in on-chain activity, with transaction volumes and user engagement rising massively across its network. Generally, SOL’s market performance may benefit from this substantial growth, which could indicate persistent network scalability and health.
On-Chain Transfer Volume On Solana’s Blockchain At A New All-Time HighA recent report from Glassnode, a world-leading on-chain and financial data platform, reveals that Solana has experienced a remarkable surge in the network’s usage. The network’s activity skyrockets as its on-chain transfer volumes hit new levels, suggesting heightened demand and broader acceptance within the ecosystem.
This increased activity shows that developers and users are becoming more interested in utilizing the network’s low-cost, high-speed transaction capabilities, among others. It could also spark renewed confidence in the long-term scalability and market potential of Solana, further cementing its position as a leading blockchain network in the dynamic world of cryptocurrencies.
According to the financial platform, the volume of on-chain transfers on Solana increased dramatically in the past day, reaching a peak of almost $224 billion. The surge in transfer volume represents nearly 3 times the overall market capitalization of SOL in a single day, which is currently valued at $76 billion.
Data from Glassnode shows that the notable uptick was majorly driven by a particular wallet address with a lot of activity that utilized multiple accounts. Furthermore, the platform pointed out that the wallet, which might be a bot used for arbitrage purposes began to increase the network’s activity and was probably the reason for the rise in transaction fees that was widely discussed in the community.
As Solana’s on-chain activity continues to improve, investors and traders are closely watching for more developments on the network that could impact the price of SOL, leading to a rally in the upcoming months.
SOL’s Active Addresses Reach A Record High Amidst Growing AdoptionActive addresses on the Solana blockchain have also witnessed significant growth alongside the rise in on-chain transfer volume. According to current data, the number of active addresses in October hit a record high of 123 million, reflecting a more than 42% growth in comparison to its performance in the month of September.
It is important to note that there were just 12.7 million SOL’s active addresses at the start of the year. This spike was due to an increase in meme coin trade, ultimately fueled by recent activity on decentralized exchange Raydium and apps like Pump.fun. The growing use of SOL for decentralized apps (dApps), Non-Fungible Tokens (NFTs), and gaming are not left out, which are all seeing huge traction on the blockchain.
Dogecoin Price Could See Parabolic Growth As Daily New Addresses On The Network Balloons
The Dogecoin price may be on the brink of a parabolic surge, as recent data shows a significant increase in the number of new daily addresses on the Dogecoin network. With the US Presidential election results set to be released soon, meme coins like Dogecoin are seeing a wave of interest from investors, recording price gains that suggest a potential for a significant surge in the post-election period.
Dramatic Increase In New AddressesIn an X (formerly Twitter) post on November 4, crypto analyst Ali Martinez unveiled new growth in the Dogecoin network, emphasizing that over 35,000 new DOGE addresses have been created daily. This significant increase indicates a substantial influx of new Dogecoin users or investors joining the meme coin’s network.
A surge in new daily addresses reflects the growing adoption and renewed interest in Dogecoin. Martinez has revealed that despite the recent dip in the Dogecoin price this week, the meme coin appears to still be on investors’ top wanted crypto-list as the DOGE network continues to expand with fresh addresses.
More often than not, a surge in new addresses correlates with increased trading volume. As more users join the Dogecoin community, there will be a notable increase in buying and selling, ultimately enhancing the token’s liquidity and leading to a potential upward pressure on prices. As demand for meme coins grows, this increase in new addresses could also trigger a parabolic growth in Dogecoin prices.
Amidst the recent surge in Dogecoin addresses, Martinez has unveiled an optimistic forecast for the number one meme coin. When asked by a crypto community member whether Dogecoin could ever experience a 35,000% to $58, Martinez responded with a more measured target, predicting that the Dogecoin price is more likely to jump to $1.8.
Notably, a 35,000% surge may appear overly ambitious, given that the Dogecoin price has only ever hit a peak of $0.73 and has consistently traded below $1 since its inception. Despite this lofty forecast, the Dogecoin price is up by 11.84% in the last 24 hours and 54.39% over the past month, according to CoinMarketCap.
Analyst Sees Dogecoin Price Surging To New ATH
Crypto analyst Javon Marks has made a bullish prediction for the Dogecoin price, forecasting a potential rise to new all-time highs. Marks revealed that despite Dogecoin’s recent market pullback, the meme coin is still well-positioned to experience an outstanding performance in this market cycle.
The analyst believes Dogecoin could rise to higher ATHs, potentially experiencing a 345% surge beyond the $0.739 mark. Adding to this sentiment, another crypto expert identified as ‘Satoshi Flipper’ on X has predicted that Dogecoin could hit the highly coveted $1 mark soon.
The analyst suggests that a Donald Trump victory in the US Presidential elections and the launch of Tesla CEO Elon Musk’s D.O.G.E proposal could catalyze a significant price surge for Dogecoin.
XRP Price Prediction: 2025 To Be Bullish With 450% Rise, ETFSwap (ETFS) To Rally 14,000% To New ATHs
As cryptocurrency trends point to a bullish year in 2025, investors are paying close attention to the XRP price and another fast-rising altcoin, ETFSwap (ETFS). Predictions for the XRP price show a projected increase of up to 450%, while ETFSwap (ETFS) could potentially rally 14,000% to reach new all-time highs.
ETFSwap (ETFS): Innovative DeFi Platform With Powerful FeaturesETFSwap (ETFS) has emerged as a game-changer in the DeFi space, presenting users with several high-value features. Central to its appeal is its user-friendly interface, making the DeFi experience easy for everyone, from novice traders to seasoned investors. This interface guarantees that users can use the platform with minimal complexity, thereby making ETFSwap (ETFS) accessible and enjoyable.
In addition, ETFSwap (ETFS) is fully DeFi-oriented, enabling users to swap other cryptocurrencies in a decentralized way, enhancing both transparency and user control. With ETFSwap (ETFS), users can swap assets with ease, bypassing traditional financial systems entirely.
ETFSwap (ETFS) will give users access to various ETF staking pools to earn passive income. ETFSwap (ETFS) has also promised a live price tracker in the AI-powered ETF Tracker. This tool will trail the prices of popular ETFs in real-time, assisting users to take every trading opportunity that presents itself. Similarly, the flexibility the ETF tracker affords will help users perform more efficient risk management as they can adjust or close their open positions in response to adverse market dynamics.
ETFSwap (ETFS) will also feature an advanced AI-driven ETF Screener. This AI-driven ETF tool allows investors to analyze ETF performance in real time, and makes recommendations based on market sentiment, trends and pattern recognition so users can make better investment decisions.
Adding to its appeal, ETFSwap (ETFS) plans to launch its own ETF by 2025, allowing users to invest in a crypto ETF tailored to meet the demands of modern investors. The platform’s credibility is further strengthened by a security audit from Cyberscope, which has verified ETFSwap (ETFS)’s commitment to maintaining a secure and transparent environment. This audit reflects the platform’s focus on safeguarding assets and upholding trust within the community.
XRP Price Prediction: Bullish Prospects For 2025 With 450% GrowthThe XRP price forecast for 2025 remains highly optimistic, with industry experts projecting a remarkable 450% increase from the current XRP price of $0.5243. Experts believe that Ripple (XRP) could trade between $3 and $5, making it one of the top-performing cryptocurrencies in this cycle. As a token with established utility in cross-border payments, the XRP price is well-positioned to benefit from growing interest in digital currencies. Ripple’s (XRP) strategic focus on partnerships has further boosted the XRP price level in global finance, with leading institutions increasingly adopting Ripple’s (XRP) blockchain technology.
The anticipated improved adoption facilitates efficient, cross-border transactions positions Ripple (XRP) as a reliable choice for those looking to benefit from both stability and strong growth potential in the crypto market. As investor confidence builds around Ripple (XRP), it is projected that the XRP price will move toward new highs, making it an attractive asset for long-term investment.
ETFSwap (ETFS) To Set New ATHs With 14,000% RallyWhile Ripple (XRP) continues to grow as a leader in the payments industry, and the XRP price targets a 450% rise, ETFSwap (ETFS) is paving the way for new possibilities in DeFi and ETF investing. Top analysts predict that the surging interest in the ERC-20 token will trigger its surge by 14,000%. They especially expect the demand that its upcoming beta platform launch will create to explode the token’s value tremendously, frequently setting new ATHs next year.
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Pakistan Legalizes Crypto: A Major Shift From Ban To Boom
After a long history of rejecting the technology, Pakistan is now moving to legalize cryptocurrency and the blockchain. In 2023, Pakistan was one of the many countries with a hardline policy on crypto use and blockchain technology.
Aisha Ghaus Pasha, the country’s Minister of State for Finance and Revenue, even publicly stated that “they will never legalize” crypto in the country.
Today, this policy is about to change with the Pakistani government approving a proposed amendment to its State Bank of Pakistan (SBP) Act, allowing the state’s chief bank to issue its first digital currency.
Pakistan’s Major Policy Shift On CryptoThe Express Tribune reports that government sources have signaled a policy shift by the current administration. Plans to modify the SBP Act, one objective of which is to allow the state bank to add a digital currency, are now in place.
The SBP has been consistent in its policy to reject the adoption of a digital currency and has consistently published warnings on its use and promotion. Under the current proposal, the government and traditional financial institutions can add a digital currency.
The idea is to promote a central bank that can manage the country’s finances physically and digitally.
Pakistan And Its History Of Crypto ProhibitionPakistan’s state bank has traditionally led the opposition against cryptocurrency use, arguing against its volatility and difficulty in regulation.
In 2018, Pakistan’s SBP issued an order banning banks and other financial institutions from providing services to crypto exchanges or handling crypto-related transactions. The 2018 order specified that popular cryptocurrencies like Ether and Bitcoin are not legal tender in Pakistan.
In the same order, the country’s chief finance policymakers explained that since cryptos offer a high degree of anonymity, bad actors may use these for illicit activities. Because of this SBP order, cryptocurrency activities in Pakistan were limited, preventing crypto exchanges from conducting business.
Banning Crypto To Avoid ‘Grey List’The government’s initial reluctance to approve cryptocurrencies for transactions is connected to the conditions imposed by the Financial Action Task Force (FATF).
According to the task force, Pakistan will not be included in its “grey list” if it does not legalize cryptocurrencies like Bitcoin. With this order, the state banks have issued orders to local banks and financial institutions to inform their customers. In addition, remittances from foreign exchanges are also not allowed since they’re illegal and risky.
If the proposal passes, the government will file amendments to Section 24, which focuses on issuing, regulating, and managing digital currencies. Under the SBP Act, only the SBP of Pakistan can issue a digital currency and make it a legal tender.
Featured image from DALL-E, chart from TradingView
Spot Solana ETF Proposal Clouded By VanEck’s Wash Trading Concerns
VanEck’s proposed spot Solana (SOL) exchange-traded fund (ETF) is facing scrutiny due to concerns over wash trading and the nature of on-chain activity. Matthew Sigel, Head of Digital Assets Research at VanEck, published an in-depth analysis on Tuesday, comparing SOL’s metrics with those of Ethereum to provide context and clarity.
Solana has been recognized for its high throughput and low transaction costs, attracting a significant number of users and developers. With approximately 111 million monthly active wallets, it vastly surpasses Ethereum’s 5.4 million. However, skeptics argue that a large portion of these wallets may be Sybil accounts—fake identities created to manipulate metrics.
Does Solana Have A Wash Trading Problem?In his analysis, Sigel acknowledges the challenge in distinguishing between organic user activity and that stemming from single users controlling multiple wallets. “We do agree that a very large portion of these wallets are not organic,” he states.
The analysis reveals that memecoin and non-fungible token (NFT) activities constitute a significant portion of Solana’s revenue. Approximately 34.3% of Solana’s revenues are derived from these sources, compared to 6.6% for Ethereum in the current year and 20.3% for Ethereum during its peak memecoin activity between July and October 2021.
When assessing wash trading—a practice where traders buy and sell the same asset to artificially inflate volumes—Solana’s figures are notably higher. An estimated 41.4% of memecoin and NFT volume on Solana is attributed to wash trading. In contrast, Ethereum’s wash trading for these assets stands at 28.9% in 2024 and was 44.4% during its 2021 peak.
“Putting it together, we assess that 14.2% of Solana revenues come directly from wash trading compared to 2% for Ethereum in 2024 and 9% in mid-2021,” Sigel notes. He adds a crucial caveat: the analysis assumes that memecoin wash trading generates miner extractable value (MEV) in line with normal trading. Without MEV on these trades, the estimates would fall by 50%.
To conduct this analysis, the study utilized Dune Analytics queries of both Solana and Ethereum blockchains to accumulate memecoin and NFT activity over specified periods. MEV and transaction fee data were sourced from Artemis, Jito, and Flashbots to evaluate each chain’s gas fee revenue and MEV. For wash trading identification, the analysis employed a threshold ratio of daily trading volume to a coin’s market capitalization.
Several reasons are cited by Sigel for the elevated levels of memecoin trading and wash trading on Solana. First, SOL’s transaction fees are approximately 1/10,000th of Ethereum’s, reducing the opportunity cost of wash trading. Second, the architecture offers a superior user experience for memecoin trading due to its high throughput and low latency.
Third, platforms like Pump.fun simplify memecoin trading, encouraging higher activity levels. Fourth, the approach to MEV may inadvertently inflate trading volumes. “Solana’s MEV trading is driven by statistics-driven assessments of landing a transaction through submitting many orders for the same trade. Some of these likely land without capturing MEV, and this may juice trading figures higher than on Ethereum,” Sigel explained.
What Does That Mean For A Spot SOL ETF?Sigel draws crucial comparisons between SOL and established companies like Alibaba, DraftKings, and CME Group to provide perspective on speculative trading activities. In Alibaba’s case, there was initial skepticism about package volumes that may have included ’empty packages’ to boost metrics prior to its 2014 IPO. DraftKings and CME Group derive substantial revenue from speculative trading, often providing incentives like reduced fees or rebates to stimulate activity.
By contrast, Solana does not incentivize users in the same manner. Its high activity levels are attributed to its low-cost, high-throughput design. “Solana’s on-chain activity is concentrated mainly in memecoins, making it a hub for speculative assets in the crypto world,” Sigel notes. However, he emphasizes that Solana has the potential to expand beyond speculation into impactful use cases such as decentralized physical infrastructure networks (DePIN) and social media applications.
While memecoins significantly contribute to the current revenue, its valuation—approximately 250 times forward revenue—reflects investor expectations for future growth in non-speculative applications.
Notably, the analysis has direct implications for VanEck’s proposed spot SOL ETF in the United States. The US Securities and Exchange Commission (SEC) has “identified possible sources of fraud and manipulation in the SOL market generally, including, among others, wash trading.”
Given that a substantial portion of revenues may be derived from suspicious trading activities, VanEck has included significant risk disclosures in its prospectus. “The analysis of Solana’s revenue sources is important because it brings to light concerns about our proposed SOL ETP,” Sigel states. “Since there is reason to believe a significant portion of SOL’s revenues are derived from suspicious trading, our ETF prospectus includes significant risk disclosures.”
However, Sigel also expressed optimism about SOL’s future: “We believe this high amount of activity derives from Solana’s high-quality user experience and will become a less important part of Solana’s revenue base as new activity comes to Solana. Ethereum’s transformation should be a guiding light for how Solana’s DEX volumes can mature over time to trading fewer meme-related assets.”
At press time, SOL traded at $161.