Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

16.12.[News of the day] • DOGE whale transactions jumped 148% • and other articles

4 min read

Welcome to today’s overview:

MARKETS

The situation around BTC worsened after the asset failed to exceed $ 49,000. In the following hours, BTC continued to decline, slipping below $ 47,000 for the second time in three days.

All eyes were on the FOMC meeting in the United States, as the Federal Reserve was expected to make a statement about its monetary policy and, perhaps most importantly, its plans to deal with rising inflation.

The central bank said it would not change interest rates, which provoked an immediate response for primary cryptocurrencies and other financial markets. BTC jumped nearly $ 4,000 and approached $ 50,000, but was unable to exceed that limit again, as in most previous attempts. To date, the asset has receded several hundred dollars and is close to $ 49,000.

The Altcoins have also suffered recently, but news from the Fed has had a positive impact on most of them. ETH fell below $ 3,800 a few days ago, but a 4% daily increase has driven it above $ 4,000 to date. [1]

BTC analysis – is there a final correction leg or a bounce from the bottom?

ETH analysis – the price confirmed the minimum, but it is far from the end of the flag

Cryptocurrencies

DOGE whale transactions jumped 148%

Major Dogecoin ($ DOGE) cryptocurrency transactions jumped 148% shortly after Ela Musk, CEO of electric car manufacturer Tesla, announced that the company would accept DOGE payments for goods.

As Benzinga was the first to report, Into The Block data show that Dogecoin saw a 148% increase in “large transactions”, defined as blockchain transactions worth more than $ 100,000. Transactions began to rise sharply shortly after the DOGE price jumped, according to Musk’s announcement.

The Benzinga report also states that market participants quickly shared positive moods on social networks about this cryptocurrency, which helped DOGE’s social dominance across platforms move by 54% in the last 24 hours.

An anonymous transfer of Doge’s shares worth $ 850 million before the announcement of Elon Musk

The WhaleStats whale watching service shared a suspicious $ 850 million Dogecoin transaction that could potentially be linked to Elon Musk’s announcement that Tesla is accepting Dogecoins for payments for goods.

The transaction, which appeared on the Dogecoin blockchain, suggests that the anonymous “Jzi13k” executed a large transaction worth almost $ 1 billion to two addresses. The first address, “y3PvN”, received most of the transaction and currently holds 5.3 billion Dogecoins.

The sender’s wallet had many transactions in its history and could be linked to the cryptocurrency exchange, while the recipient had only one incoming transaction on its sheets.

This whale indicator suggests that BTC could experience the September rally

A whale indicator from Santiment, an on-chain analysis firm, suggests that BTC could copy its rally in late September and early November.

According to Santiment, “the number of BTC whale addresses holding between 100 and 1,000 BTCs has 193 addresses more in this prestigious club than just 10 weeks ago. The number of whales at this level has historically striking impressive parallels with the BTC award. ”

This is a good sign for the market, as these addresses tend to grow along with the price of BTC. It should be noted that BTC began to rise from a low of close to $ 40,800 at the end of September and reached a historic high of $ 69,000 on November 10.

Banks, crypto exchanges, companies

Coinbase launches retail support for altcoin, which rose 74% in just two days

Coinbase is introducing support across its suite of retail business applications. The leading US cryptobourse says it is adding Decentralized Social (DESO) to Coinbase.com as well as platform applications for iOS and Android.

Earlier this week, Coinbase added DESO to its professional trading platform, Coinbase Pro.

Sudden support from the crypto giant spurred a 74% increase in the price of altcoin in just two days – from $ 94.12 to a maximum of $ 164.20. Decentralized Social is described as a Layer 1 blockchain to allow developers to easily create fast and custom social media applications.

Reddit has filed an application to list, and the SEC is reviewing the application

Reddit intends to list, as evidenced by the confidential submission of a draft registration statement regarding the proposed public offering. Form S-1 was filed with the United States Securities and Exchange Commission (SEC) on December 15.

The number of shares offered and the price range of the proposed offer have not yet been determined and the IPO will take place only after the SEC completes the review. No further details were offered.

This is a big step for Reddit, who has become the home of cryptocurrency and the stock market traders. It could be argued that Reddit is home to memes and many of its users play an important role in the markets.

CBDC, Regulation

Thailand will introduce detailed cryptocurrency regulation next year

During a recent interview with The Bangkok Post, Sethaput Suthiwartnarueput, the governor of Thailand’s central bank, said the institution would issue a consultation paper on “Financial Landscape” in January 2022. The document would set red lines for those trading the BTC and altcoins, the chief added.

Despite the growing interest in digital currencies, investing in them involves certain risks. Therefore, the proposed rules will seek to offer better protection to those dealing with this asset class.

The Central Bank of Thailand will work with the National Securities Commission and the Ministry of Finance. The aim of this trio will be to ban digital assets from becoming a means of payment within the country’s borders. Governor Suthiwartnarueput also warned that digital assets are currently highly volatile, although they have the potential to prosper in the monetary system.

Leave a Reply

Your email address will not be published.