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Активность в сети Litecoin за год выросла на 10%, сообщили аналитики IntoTheBlock. Среднее количество проявляющих ежедневную активность адресов выросло до 401 000, тогда как в 2023 году их было 366 000.

Автор книги о личных финансах «Богатый папа, бедный папа» Роберт Кийосаки (Robert Kiyosaki) постарался взбодрить биткоин-инвесторов, разочарованных медвежьим трендом на крипторынке.

The Shiba Inu ecosystem has witnessed an increase in SHIB burning endeavors in the 24 hours leading up to Christmas day. According to data from Shibburn.com, Shiba Inu’s burn tracker, the meme coin has witnessed a 41.87% increase in the number of Shib tokens burned when compared to the previous 24-hour timeframe. Although this increase is small in comparison to other notable spikes in burns, its significance lies in its time. Particularly, the surge in burn rate has occurred amidst a decline in the SHIB price, which has also contributed to a bullish turnaround in the past 24 hours.  

Shiba Inu Burn Rate Spikes To Push Price Up

The latest figures from Shibburn.com show that millions of SHIB have been burned within a 24-hour window. Particularly, 7,309,654 SHIB tokens have been burned in the past 24 hours by Shiba Inu holders. By burned, what this means is that the tokens have been sent to any of the three designated SHIB burn addresses. Detailed data from Shibburn.com shows that these burn endeavors range from  6,387 SHIB tokens in one transaction to 4,326,195 SHIB tokens in another. 

Although not quite voluminous, the surge in the burn rate appears to have had a positive effect on SHIB’s price. This is because the Shiba Inu price has experienced a 3.5% uptick in the past 24 hours, marking a notable improvement in its market performance on Christmas Eve and leading up to Christmas Day. Such an increase in activity opens up the possibility of the SHIB price starting to regain a steady bullish move from here.

Can SHIB Burns Keep Pushing The Shiba Inu Price?

SHIB burns play an important role in Shiba Inu’s market dynamics by introducing a deflationary element to its supply, which can positively impact its value over time. However, SHIB burns serve multiple purposes within the ecosystem that extend beyond merely reducing supply. 

For example, SHIB burn activity is an important indicator of activity among Shiba Inu traders. High periods of SHIB burns or spikes in SHIB burns are often accompanied by an increase in activity on the network, which is also tied to price increases. While SHIB burns do not guarantee a strong price surge, this correlation has made analysts use them to gauge interest surrounding the meme cryptocurrency.

Furthermore, SHIB burns are tied to projects on the Shiba Inu ecosystem, like ShibaSwap and Shibarium. In the case of Shibarium, a portion of the BONE gas fees charged on the layer-2 network is converted to SHIB tokens, which are then burned.

At the time of writing, Shiba Inu is trading at $0.00002305 and is up by 3.5% in the past 24 hours. However, the meme coin is down by about 10.71% in the past seven days. A continued increase in SHIB burn activity could contribute to a steady reversal into price gains in the weekly and monthly timeframes.

Центральный банк Италии заявил, что p2p-сервисы, которые позволяют покупать и продавать цифровые активы без идентификации пользователей, совершают финансовые преступления.

Аналитики платформы CoinGecko сообщили, что самым популярным нарративом у трейдеров и инвесторов в уходящем году оказался не биткоин, а мемкоины, охватившие в общей сложности более 30% внимания участников рынка.

Банк Кореи опубликовал новые статистические данные, согласно которым к концу года общее число южнокорейских криптоинвесторов приблизилось к 16 млн человек.

В 2024 году потери централизованных криптторговых платформ от хакерских атак выросли вдвое, тогда как проекты децентрализованных финансов (DeFi) показали устойчивость к киберугрозам, сообщили специалисты по безопасности Web3-проектов компании Hacken.

2024 is officially the year of degens. CoinGecko traffic analysis revealed that meme coins captured 31% of investor interest. This means every third user favored DOGE and PEPE over BTC.

Solana, hosting tokens like BONK, WIF, POPCAT, and PNUT, still dominates the sector. Base is a runner-up with a $2.6B meme coin market cap.

Other crypto trends this year include AI (who would’ve thought), real-world assets (RWA), gaming, and Layer-2 solutions.

Cats Over Dogs, Memes Over NFTs

The broader ‘meme coin’ narrative took a 14.36% share of CoinGecko’s user attention. Solana meme coins were the fourth most-hyped thing, grabbing 7.65% of the spotlight, while Base meme coins were way down the list with 2.13%.

Shockingly, cats have overthrown dogs and frogs—talk about man’s best friend! While canine meme coins boast a $74B market cap, tokens like POPCAT, MOG, PURR, and MEW piqued degens’ curiosity this year. 

But not all investors go for speculative assets promising quick riches. The AI narrative was a close second, followed by RWA and the Solana ecosystem in general. Base, Sui, and TON networks have also caught the community’s eye, which is reflected in BASE, SUI, and TON token performance.

Last year, the hottest topic was AI. The Solana ecosystem was also trending, unlike Base, Sui, and TON that came nowhere close to the top 20. NFTs fell out of fashion—the novelty of owning a pixelated monkey portrait with no utility quickly wore off.

In fact, 96% of NFTs are now ‘dead.’ Zero trading and social media activity. We’re appealed and flabbergasted (not really).

WEPE Leads a Revolution to Democratize Trading

Titans like PEPE brought their holders massive gains this year. But heightened interest in meme coins is also evident from the performance of new projects.

Namely, Pepe Unchained (PEPU), which recently netted $70M on presale, surged over 540% shortly after listing and became the single most-visited token on CoinMarketCap.

Another project that’s quickly going mainstream is Wall Street Pepe (WEPE). Currently selling at $0.0003655 on presale, it’s nearing the $36M milestone.

Wall Street Pepe is on a crusade against insider trading. Its goal is simple—to democratize crypto investing and equip the small fish with knowledge necessary to go against whales and crush this bull run.

Early adopters can stake their WEPE at a 36% APY to maximize potential returns. 27% of the total token supply is set aside for various frog army rewards, and another 38% for marketing because only this way can WEPE assemble its thirsty degen legion.

The next price uptick will happen in mere hours, so there will be no better time to join WEPE’s mission. To buy WEPE, visit the presale website (be aware of scams and only use the official link!), connect your wallet, and pay with ETH, USDT, or bank card.

Meme Coins Prove Their Worth

CoinGecko report proves that meme coins are no longer overhyped, short-lived, and useless—at least not all of them. Projects like Wall Street Pepe focus on education and community building, which transcends the old narrative and makes it one of the best meme coins in 2024.

However, don’t take our word for it. DYOR, diversify, and don’t fall for FOMO. Because if we’ve learned anything from past market cycles, it’s that a cold mind is the most valuable asset.

Основатель компании MN Consultancy заявил, что в январе произойдет усиление эфира и он станет у инвесторов популярнее, чем биткоин. Это может стать толчком к ралли альткоинов на рынке, считает бизнесмен.

Венчурный инвестор Джейсон Калаканис (Jason Calacanis) раскритиковал компанию-разработчика программного обеспечения MicroStrategy за слишком агрессивную покупку биткоинов. Инвестор опасается, что такая стратегия может нарушить децентрализацию Биткоина.

Генеральный директор Real Vision заявил, что последние дни года могут ознаменоваться резким ростом криптовалютного рынка. Свои выводы он сделал, опираясь на историческое поведении крупных монет.

Глава крупнейшей российской майнинговой компании BitRiver Игорь Рунец заявил, что закон о майнинге и ограничения обращения цифровых валют позволят вывести Россию в мировые лидеры по добыче криптовалют уже через два-три года.

On-chain data shows the Litecoin Daily Active Addresses indicator has seen a significant increase this year as compared to the last one.

Litecoin Average Active Addresses Have Been Notably Higher This Year

In a new post on X, the market intelligence platform IntoTheBlock has discussed about the year-on-year growth in the Daily Active Addresses for Litecoin. The “Daily Active Addresses” refers to a metric that measures the total number of addresses that are participating in some kind of transaction activity on the network every day.

When the value of this indicator goes up, it means the unique number of addresses making transfers on the blockchain is rising. As the unique number of addresses can be equated with the unique number of users, this kind of trend implies traffic on the chain is increasing.

On the other hand, the metric registering a decline suggests investor interest in the cryptocurrency may be waning as not many users are participating in on-chain activity.

Now, here is a chart that shows the trend in the Litecoin Daily Active Addresses over the past year:

As is visible in the above graph, the Litecoin Daily Active Addresses started 2024 very strongly, but the metric cooled off soon after. There have been some bursts of activity since then, but on the whole, the indicator has shown a consistent sideways trajectory.

On average, there have been around 401,000 addresses interacting on the blockchain every day this year. While this is significantly lower than the massive 1.37 million high from January where LTC surpassed both Bitcoin (BTC) and Ethereum (ETH), it’s still almost 10% higher than the 366,000 average from 2023.

Historically, Litecoin has generally tended to do well in terms of activity-related metrics, due to the fact that the network offers cheap and fast transactions. The traffic growth that LTC has witnessed compared to the previous year would imply users are still being attracted to the chain for its use as a mode of payments.

Recently, the miners have also been investing into the network, as the total LTC hashrate, a measure of the miners’ computing power, has been on the rise. Below is a chart from CoinWarz that displays this trend.

Growth in the Daily Active Addresses is usually constructive for any cryptocurrency, as it means that there is rising interest in the network, which can potentially help fuel price moves. LTC hasn’t exactly been doing the best in terms of price action lately, but the strong traffic and miner confidence may help it reverse course.

LTC Price

Litecoin had plunged toward the $86 mark at the end of last week, but it appears the coin has seen a jump since then as its price is now trading around $110.

The US tax regulator, the Internal Revenue Service (IRS), has restated its stance on cryptocurrency staking, clarifying that rewards generated from staking activities are taxable as soon as they are received. The IRS added that staking rewards do not constitute new property, and are therefore subject to immediate taxation upon generation.

IRS Confirms Crypto Staking Taxable On Receipt

According to a recent Bloomberg report, the IRS reiterated its position that digital asset staking rewards should be taxed as income as soon as they are generated and made available to the recipient. This outcome of the case is expected to have wide-ranging implications for the treatment of staking rewards under US tax laws.

The regulator further clarified that staking does not result in the creation of new property, refuting comparisons to farming, manufacturing, or creative works. The IRS’ decision dismisses the argument that staking-generated cryptocurrency should only be taxed upon sale or exchange.

The IRS’ stance is regarding an ongoing legal dispute involving Tennessee residents, Joshua Jarrett and Jessica Jarrett. The couple – who staked cryptocurrency on the Tezos (XTZ) network – argued that their staking rewards should not be taxable until they are sold or exchanged for other assets. They contended that their rewards represented “new property,” akin to crops harvested by a farmer or a book written by an author.

However, the IRS countered that all rewards generated through staking activities constitute taxable income upon receipt. In its official statement, the agency remarked:

Revenue Ruling 2023-14 requires taxpayers who receive staking rewards to report the rewards as income at their fair market value upon having the ability to sell, exchange, or otherwise dispose of them.

For the uninitiated, crypto staking is the process of locking up cryptocurrency in a blockchain network to help validate transactions and secure the network, earning rewards in return. It typically involves proof-of-stake (PoS) or similar consensus mechanisms, allowing participants to earn passive income on their holdings.

The IRS’ 2023 guidance specifies that block rewards, including those earned through staking, are to be treated as income at the time they are generated. The tax liability for these rewards is based on their fair market value at the time of receipt, making it crucial for taxpayers to track the value of tokens as they are earned.

Background On The Tax Dispute

The Jarretts’ legal battle with the IRS began in 2021, when they filed a lawsuit over the taxation of 8,876 XTZ tokens earned as staking rewards in 2019. They argued that these rewards constituted “new property” and should not be taxed until sold or exchanged. 

Drawing comparisons to farming or manufacturing, the couple asserted that staking rewards should be treated like a farmer’s crops, a manufactured good, or an author’s manuscript – taxable only upon monetization.

In response, the IRS offered the couple a $4,000 tax refund, which they declined in hopes of setting a legal precedent for all proof-of-stake blockchain networks. However, the court eventually dismissed the case, ruling it moot due to the refund.

In October 2024, the Jarretts filed a second lawsuit, seeking a tax refund of $12,179 for taxes paid in 2020 on approximately 13,000 XTZ tokens earned through staking. They also sought a permanent injunction against the IRS’ current tax treatment of staking rewards. This case is ongoing and may have broader implications for how crypto staking rewards are taxed in the US.

To say that the IRS is hounding crypto investors would be disingenuous, as the regulator has taken several measures to make it easier for taxpayers to file their crypto taxes. That said, legal forces in the US are indeed going after individuals suspected of engaging in malicious activities, including crypto tax evasion.

In related news, an individual was recently sentenced to two years in prison for failure to report capital gains from crypto sales between 2017 and 2019. At press time, Bitcoin trades at $97,471, up 4.2% in the past 24 hours.

Эксперты компании QCP Capital заявили, что негативный новостной фон «поставил барьер» для рождественского ралли первой криптовалюты. Однако ситуация может измениться после 27 декабря, когда состоится экспирация, завершение опционов на биткоин и эфир.

Сооснователь и гендиректор криптовалютной торговой платформы Robinhood заявил, что его компания не планирует покупать биткоины, так как от этого может пострадать ее репутация.

A recent Bloomberg report has revealed that in 2024, Singapore was able to solidify its position as a leading digital asset hub in Asia, surpassing Hong Kong in “regulatory efficiency and appeal” to crypto firms.

Particularly, the city-state issued 13 crypto licenses this year, more than double the number granted in 2023. Prominent global players such as OKX, Upbit, Anchorage, BitGo, and GSR secured regulatory approval, highlighting Singapore’s growing attractiveness for digital asset operators.

In contrast, Hong Kong has faced “slower progress” under its licensing regime, with only seven fully licensed platforms and several others holding provisional permits.

Regulatory Differences Shape Regional Competitiveness

Amid this discrepancy, industry experts point to regulatory restrictions in Hong Kong as a significant factor behind its lag. They mentioned that the city’s stringent rules around custody of customer assets, token listing, and delisting policies have made it challenging for exchanges to operate profitably.

Additionally, trading is restricted to high-liquidity cryptocurrencies like Bitcoin and Ethereum, limiting opportunities for altcoin investments. This cautious approach has led prominent exchanges such as OKX and Bybit to withdraw their licensing applications in Hong Kong, redirecting their focus toward Singapore.

Angela Ang, senior policy adviser at consultancy TRM Labs noted:

“Hong Kong’s regulatory regime for exchanges is more restrictive in a number of ways that matter — such as custody of customer assets and token listing and delisting policies. This may have tipped the balance in Singapore’s favor.”

Diverging Approaches to Crypto Innovation

Singapore’s regulatory framework has been praised for its balanced approach, promoting collaboration between new entrants and established financial institutions.

Bloomberg pointed out that initiatives like Project Guardian and Global Layer 1, backed by the Monetary Authority of Singapore, aim to accelerate asset tokenization and drive blockchain adoption across wholesale financial markets.

These efforts have positioned Singapore as a long-term, stable choice for companies seeking a regional headquarters for their digital asset operations.

In contrast, while Hong Kong has also achieved milestones, such as the sale of HK$6 billion ($770 million) in tokenized green bonds and the launch of Bitcoin and Ethereum spot exchange-traded funds (ETFs), adoption has been slower.

The combined assets under management for these ETFs in Hong Kong stand at around $500 million—significantly lower than the $120 billion held by equivalent products in the United States.

Experts suggest that Hong Kong’s emphasis on established financial institutions leaves limited space for innovative startups, slowing the pace of digital asset sector growth. Roger Li, co-founder of One Satoshi stated: “It’s quite a high standard to meet and be profitable.”

Featured image created with DALL-E, Chart from TradingView

Налоговая служба США (IRS) объявила, что обязательства криптоинвесторов возникают сразу после получения вознаграждения за стейкинг, независимо от того, что криптоактивы хранятся на их балансе и не проданы.

According to local reports, the Russian government will ban crypto mining activities in ten key regions following the recent enactment of the new industry-related laws. It will also implement seasonal bans on other territories and potentially add more areas to the list amid the ongoing electrical crisis in the country.

Key Regions Face 6-Year Mining Ban

On December 24, local news agency TASS revealed that the Russian government approved a list of key regions and territories where crypto mining activities will be banned starting January 1, 2025. The ban aims to “maintain the balance of energy consumption” and will be effective until March 15, 2031.

According to the report, the measure includes a six-year ban on all crypto mining and mining pool activity in the Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, Donetsk and Lugansk People’s Republics, Zaporizhzhya, and Kherson regions.

Additionally, the prohibition is temporarily extended to some territories of the Irkutsk region, Buryatia, and Zabaikalsky Krai during the energy consumption peaks. These areas will face a seasonal ban from January 1 to March 15, 2025, and from November 15 to March 15 in the following years.

The government also noted that the list of regions is not final and will be modified based on potential electricity sector developments. Experts told the local news agency that the ban is related “not only to the local electrical shortages but also to electricity payment privileges in some regions.”

Sergei Kolobanov, deputy director of the Center for the Economy of Fuel and Energy Sectors, explained that the ban “is synchronized with the end of the transition period for this benefit’s elimination.”

Crypto Mining Landscape In Russia

In September, Abdulmuslim Abdulmuslimov, prime minister of the southern Republic of Dagestan, urged the Russian government to take stronger actions against illegal mining centers in the region, asking authorities to pay more attention to the evolving methods miners develop to operate.

The following month, Deputy Minister of Energy Evgeny Grabchak revealed that the ongoing electrical crisis in key areas made offering large power capacities nearly impossible until 2030. As reported by Bitcoinist, Evgeny Grabchak announced that all kinds of mining would be banned in specific regions of Russia following a recently signed law by President Vladimir Putin.

In October, President Putin approved a law to regulate digital currency turnover, aiming to expand the government’s control over crypto mining activities. This legislation took effect on November 1 and allows the Russian government to prohibit mining activities in specific regions or individual territories and determine the conditions and cases of the restrictions.

Moreover, the amendments enabled the government to regulate the activities of companies providing mining infrastructure. It also allowed the Federal Tax Service to control the miners’ register, which the Ministry of Digital Development handled.

Notably, the registry is part of the legislation signed in August to give the mining sector a legal status within the country. Since it took effect on November 1, over 150 firms have applied for a crypto mining license to operate legally in Russia.

Crypto analyst Ali Martinez has indicated that there is a looming parabolic rally for the Dogecoin price. Martinez predicted that the foremost meme coin could rally above $1 and reach as high as $20 if history repeats itself.

Dogecoin Price Set For Rally Above $1 

In an X post, Ali Martinez shared an accompanying chart showing that the Dogecoin price could rally above $1 if it reaches the middle boundary of the ascending channel. Specially, this middle boundary puts Dogecoin’s target at $1.9. Meanwhile, the foremost meme coin could reach as high as $20 if it reaches the upper boundary of the channel. 

Martinez shared this chart while alluding to historical trends, which indicated that a parabolic rally is on the horizon. The analyst noted that in 2017, when Dogecoin began a parabolic run, it surged by 212%, then retraced by 40%, before it rallied by 5,000%. In 2021, DOGE rallied 476%, retraced 56%, and then skyrocketed 12,000%.

Therefore, the Dogecoin price could follow this historical pattern again. Dogecoin has already surged 440% in this market cycle and then retraced by 46%. If history repeats itself, DOGE could record another parabolic rally like the 5,000% and 12,000% rallies, respectively. 

Crypto analyst Trader Tardigrade also recently mentioned that the Dogecoin price has formed an ascending channel from the bottom, reaching near the upper line of the channel. In line with this, the analyst stated that a breakout could happen at any moment from here. He alluded to the large candle that was observed in January 2021 and suggested that a similar occurrence was likely in January 2025. 

Trader Tardigrade noted that Elon Musk will officially assume his duties as head of the Department of Government Efficiency (D.O.G.E) in January 2025. The analyst believes this is one factor that could propel the Dogecoin price to new highs. 

A Price Rebound Is Imminent

In a recent X post, Ali Martinez suggested that a Dogecoin price rebound was imminent. He stated that the TD Sequential presents a buy signal on the DOGE daily chart, anticipating a price rebound. His accompanying chart showed that a rebound could send Dogecoin to $0.48 in the short term. 

Trader Tardigrade also suggested that a rebound is imminent. He stated that the Dogecoin price is finishing the first half of the second wave. He noted that Dogecoin hasn’t touched the orange line on the accompanying chart but is very close. In line with this, the analyst stated that Dogecoin will resume its uptrend very soon. 

At the time of writing, the Dogecoin price is trading at around $0.32, up over 2% in the last 24 hours, according to data from CoinMarketCap.