Stablecoin total market capitalization now approaches the $310 billion mark, reaching another all-time high despite poor market conditions as cryptocurrency prices crash and hundreds of millions of dollars are liquidated from leveraged positions in a long squeeze. Coinspeaker retrieved data from DefiLlama on December 15 that shows a $309.83 billion market cap for stablecoins, up 0.44% in the last 24 hours and marking record high levels. Tether dollar-pegged token is the leading stablecoin, dominating 60% ...

It is hard to believe that less than four years ago, AVAX USDT was trading in the triple digits, at an all-time high of $158. Since that day in early 2022, Avalanche crypto has fallen by -91%, with today’s -4.2% drop the latest bloodbath for the Layer-1 blockchain project. During its height, AVAX was also a top 15 token by market cap, but has since dropped to 32nd, with a valuation of $5.3Bn, a fall from grace as the token was once valued at over $30Bn. A recent alliance with the US SEC has the Avalanche ...

By Giulio Piovaccari and Elvira Pollina MILAN, Dec 13 (Reuters) - Italy's Agnelli family has no intention of selling Juventus to crypto group Tether or anyone else, the CEO of their holding company said on Saturday, rejecting Tether's shock offer for Italy's most successful soccer club. "Juventus, our history and our values ​are not for sale," said Exor CEO John Elkann, who wore a team hoodie in a rare video address posted on the Turin-based Serie A club's ‌website. Tether, headquartered in El Salvador ...

Group 1: Market Developments - The UK has officially recognized cryptocurrencies and stablecoins as legal property through the Property (Digital Assets etc) Bill, enhancing the legal framework for digital assets [1] - The cryptocurrency market capitalization increased by 7.4%, reaching $3.24 trillion, with 95 of the top 100 coins appreciating in value [5][6] - Bitcoin (BTC) rose by 7% to $92,992, while Ethereum (ETH) increased by 9.1% to $3,055, indicating a positive trend in the market [5][11] Group 2: Institutional Involvement - Vanguard has reopened access to Bitcoin ETFs for over 50 million clients, which could act as a catalyst for BTC's price movement towards $100,000 [2][16] - Bank of America has permitted more than 15,000 wealth advisers to recommend Bitcoin ETFs, potentially increasing liquidity in the crypto market [8][16] - The US BTC spot ETFs saw inflows of $58.5 million, marking the fifth consecutive day of inflows, while ETH spot ETFs experienced outflows of $9.91 million [5][13] Group 3: Market Sentiment and Predictions - The crypto market sentiment has improved, moving out of extreme fear territory, with the fear and greed index rising to 22 from 16 [12] - Analysts suggest that BTC's price could push above $100,000 if it breaks through key resistance levels between $93,000 and $95,000 [9][10] - There is optimism for December, with expectations of a potential "Santa rally" as market conditions appear more favorable [10]

The native token of oracle network Chainlink broke below $12 on Monday as the broader crypto market pullback overwhelmed anticipation for the token's U.S. spot ETF debut. The LINK token tumbled more than 11% over the past 24 hours, with a bearish technical picture pointing to a breakdown, CoinDesk Research's technical analysis tool noted. The weakness came despite news that asset manager Grayscale is set to convert its closed-end LINK trust into an ETF structure. Well-followed ETF analyst Nate Geraci sai ...

Core Insights - The crypto market is experiencing a recovery, with Bitcoin reclaiming $85,000 as support, which is positively impacting altcoins and reigniting hopes for a rally and potential all-time highs [1] Altcoin Analysis - **Undead Games (UDS)**: - UDS has surged 9% recently, trading at $2.33, supported by bullish signals from the Ichimoku Cloud, indicating strengthening momentum [2] - UDS is approximately 24.3% away from its all-time high of $2.90, needing to break through resistance zones at $2.48 and $2.59 for further upward movement [3] - **Kite (KITE)**: - KITE is trading at $0.098, about 35% below its all-time high of $0.133, with bulls attempting to establish $0.099 as a support level [4] - The RSI indicates a bullish outlook, remaining above the neutral 50.0 mark, suggesting continued upside potential as long as KITE avoids the overbought zone [4] - **Wefi (WFI)**: - WFI is trading at $2.17, just below its recent all-time high of $2.25, remaining in a tight range as traders look for renewed momentum [6] - WFI is less than 3.7% away from retesting its all-time high, with the Parabolic SAR indicating a clear uptrend and building bullish pressure [6]

Core Insights - Solana, along with other major altcoins, is experiencing significant pressure due to a prolonged selloff in the crypto market, with nearly 80% of its circulating supply currently at a loss [1][2] - The potential for panic selling is heightened as most holders are at a loss, with a major liquidation zone identified at a price point of $124.40, which could trigger forced closures of approximately $239 million in long positions [2][3] - Despite the current downtrend, there is a cautious optimism regarding the crypto market outlook, with upcoming macroeconomic events potentially leading to recovery if they resolve favorably [4] Market Dynamics - Solana's price has decreased by 0.3% in the last 24 hours, trading at $129.24, with only a 4% chance of reaching a new all-time high by year-end according to prediction markets [3] - Treasury companies focused on Solana are facing challenges, with their average market net asset value (mNAV) around 0.6, which may force them to liquidate assets to cover costs, further contributing to bearish sentiment [4] - Institutional accumulation into Solana exchange-traded funds (ETFs) remains strong, with a net inflow of approximately $719 million since their introduction, indicating long-term value despite daily price fluctuations [5] Investor Sentiment - Analysts suggest that large-scale liquidation events could cleanse the market structure, setting the stage for future accumulation [3] - The sentiment among some analysts is that current price levels do not warrant panic, emphasizing the importance of institutional investment trends over short-term price movements [5][6]

Core Insights - The recent surge in ETF filings for Solana indicates a significant shift in institutional interest towards SOL, with potential inflows estimated between $3.8 billion and $7.2 billion within the first year following approval [1][6][7] Group 1: Market Performance and Sentiment - Solana's price has experienced a decline of over 30% from its September peak of $209, reflecting the asset's sensitivity to broader market risk cycles and technical exhaustion [2][3][6] - The asset's performance has transitioned from a period of optimism and momentum to a correction phase, with price hovering around the mid-$140 range after failing to maintain levels above $200 [4][5] Group 2: Institutional Interest and ETF Filings - Five ETF filings within a month suggest that major asset managers are signaling long-term interest in Solana, indicating a potential early stage of deeper adoption [5][8] - The filings also imply that regulators may be warming to the idea of treating Solana as a commodity, which could facilitate institutional participation through familiar investment structures [7] Group 3: Individual ETF Filings Overview - **VanEck Solana Trust (VSOL)**: Early entry with a competitive management fee of 0.30%, positioned as a default choice for institutions seeking exposure [10][11] - **21Shares Solana Spot ETF**: First to secure SEC approval, leveraging its experience with crypto ETPs to instill confidence in operational details [12][13] - **Fidelity Solana Fund**: Enters the market with a long-term perspective, targeting large traditional allocators through its established network [14][15] - **Bitwise Solana ETF**: Focuses on Solana's ecosystem rather than just price, appealing to research-driven investors [16][17] - **Grayscale Solana ETF (Conversion)**: Plans to convert its existing Solana Trust into an ETF, allowing for a smoother transition for current trust holders [18][19] Group 4: Future Price Predictions - **Bullish Case**: If ETF inflows accelerate and network stability is maintained, prices could reach between $425 and $600 by the end of 2026 [22][23] - **Base Case**: Assuming moderate ETF approvals and slower inflows, prices may stabilize between $250 and $350 [24][25] - **Bearish Case**: If ETF inflows disappoint or technical setbacks occur, prices could fall to between $140 and $200 [26][27]

Core Insights - The upcoming US CPI report, delayed due to a government shutdown, is expected to show October's inflation close to September's levels, with a headline of 2.6% and core at 3.3% year-over-year, influencing market sentiment and crypto whale activity [1][4] Group 1: Crypto Whale Activity - Crypto whales are shifting their focus from broad risk-on bets to tokens with strong fundamentals and clear use cases, particularly in DeFi-linked assets and lower-volatility projects [2] - Chainlink (LINK) has seen a resurgence in whale buying, with holdings increasing from 542.92 million LINK to 543.07 million LINK, equating to approximately 150,000 LINK valued at about $2.36 million [3] - Pendle (PENDLE) is also experiencing increased whale accumulation, with whale wallets holding between 100,000 and 1 million PENDLE increasing their balances by 7.64%, totaling 2.86 million tokens [8] Group 2: Market Sentiment and Technical Analysis - The renewed interest in Chainlink suggests that whales anticipate a stable or cooler inflation print, which could enhance market sentiment [4] - LINK's price has shown a lower low between October 10 and November 4, while its Relative Strength Index (RSI) indicates a higher low, suggesting a bullish divergence that often precedes trend reversals [5] - The first key resistance level for LINK is $18.76, with potential upward movement towards $23.80 and $27.92 if a breakout occurs [6] - Conversely, if LINK falls below $13.72, the bullish setup may fail, indicating a return to lower support levels [7] Group 3: Accumulation Patterns - The top 100 whale addresses for Pendle have increased their holdings by 2.62%, now totaling 249.27 million tokens, which represents an addition of approximately 6.37 million PENDLE worth nearly $17.7 million [9]

Core Insights - Ethena (ENA) has experienced significant price volatility, closing lower in each session from November 1 to November 2, with a drop from $0.3917 to $0.3624, marking a 31% decline on the weekly charts and a 10% decline on the daily [1][2][3] Price Movement - ENA's trading volume has been on a downward trend since October 31, starting at $387,848,062 and declining to $185,700,974 by November 2, although it saw a recent increase to $244,642,889, representing a 56.30% rise in market activity [2] - The price action has resulted in a decrease in market capitalization from $3,162,489,112 on October 30 to $2,766,268,350 by November 2 [3] Support and Resistance Levels - ENA has struggled to maintain support at the $0.40 level and is currently testing support at $0.35, which it previously bounced off on October 14 [4] - A drop below the $0.35 level may delay recovery, with the next support zones identified at $0.29-$0.30 [5] Technical Indicators - ENA is trading below its 20-day EMA at $0.3872 and 50-day EMA at $0.41, indicating a need to reclaim these levels for a potential bounce back [5] - The Relative Strength Index (RSI) is at 30, suggesting that the price is nearing oversold levels and may be poised for a rebound [5] Market Context - The negative pressure on ENA's price has been attributed to a losing streak following a liquidation event on October 10, alongside a significant drop in Total Value Locked (TVL) on the platform [6]