According to Finbold, Solana (SOL) is showing signs of a potential significant rally, with technical indicators suggesting a possible 1,600% increase in value. The decentralized finance (DeFi) asset is currently forming a 'cup and handle' pattern, a bullish setup that often precedes price breakouts. This pattern, highlighted by cryptocurrency analyst Ali Martinez, indicates a period of accumulation and consolidation, with the base forming between late 2022 and early 2024. The handle, a shorter-term pullback, aligns with Solana's recent price movements around the $250 resistance level. Martinez suggests that if Solana breaks out from this pattern, it could target a record high of around $4,000, supported by the 1.618 Fibonacci extension pointing to $2,236 and the 1.786 extension aligning with the $4,000 target. Solana's current position above the 0.786 retracement level of $123.44 further supports its bullish momentum. However, no specific timeline has been provided for when these targets might be achieved. Achieving a $4,000 price would significantly elevate Solana's market cap, potentially placing it on par with Bitcoin if the latter experiences minimal growth. In the short term, Solana has faced bearish sentiments, but recent developments suggest a potential reversal. Trading analyst CryptoBusy noted a double-bottom pattern in the one-hour timeframe, indicating a possible bullish breakout. If this momentum continues, Solana could target the 0.5 Fibonacci level at $225 and the 0.618 level at $230, with a potential price increase of $10 (4.56%) from the breakout point. On-chain metrics also support this outlook, with data from DeFiLlama showing a surge in Solana's daily trading volume from $2.92 billion to $5.99 billion, reflecting growing liquidity and investor interest. Regulatory developments could also impact Solana's price. The Securities and Exchange Commission (SEC) is anticipated to approve a Solana exchange-traded fund (ETF), although outgoing SEC Chair Gary Gensler has reportedly rejected it, questioning Solana's status as a security. The Solana community remains hopeful for approval under a potential new administration. At the time of reporting, Solana was trading at $225.60, with daily gains of over 5%, although it is down nearly 3% on the weekly chart. Solana's trading above the 50-day and 200-day simple moving averages, along with a 14-day relative strength index of 45.25, suggests room for growth without entering overbought conditions, indicating a strong potential for an impressive 2024.

Citibank said in its latest report that stablecoins not only have the potential to consolidate the dominance of the US dollar, but also challenge the claim that Bitcoin will one day end the dollar's hegemony. Analysts said in the report: "Initially, cryptocurrencies such as Bitcoin were considered competitors to central bank-issued currencies. In fact, some believed - and still believe - that Bitcoin could end the hegemony of the US dollar. However, USDT is challenging this statement." Citi pointed out that the vast majority of stablecoins are pegged to the US dollar, and the issuers hold both US dollars and US Treasuries. Analysts also said that if the US government further legalizes stablecoins, this could enhance the dominance of the US dollar. "Increased regulatory transparency may also further enhance the attractiveness of stablecoins. If so, the demand for US Treasuries by stablecoin issuers may increase from the current 1%. Therefore, this cryptocurrency will not replace the US dollar, but will make the US dollar more acceptable to the world and consolidate the US dollar's long-standing global dominance." (TheBlock)

On Dec 11, 2024, 16:24 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 101,000 USDT benchmark and is now trading at 101,023.351563 USDT, with a narrowed 5.45% increase in 24 hours.

OKX market shows that BTC has broken through 101,000 USDT and is now at 101,010 USDT, with a 24-hour increase of 5.41%. (This newsletter is generated with the assistance of AI)

Coinglass data shows that in the past 4 hours, the total liquidation of the entire network reached 81.4637 million US dollars, of which long positions were liquidated for 15.2816 million US dollars and short positions were liquidated for 66.1821 million US dollars.

Stablecoin adoption and growth could "reinforce the U.S. currency’s longstanding global dominance," Citi analysts argue. source: https://www.theblock.co/post/330391/citi-says-stablecoins-challenge-the-idea-of-bitcoin-ending-us-dollars-dominance?utm_source=rss&utm_medium=rss

Aptos is one of the chains that has seen its fortune change the most in 2024 as it has made the best of the bull market. Just as L1 tokens and platforms were slowing down, Aptos managed to draw in all the elements it needed to become a growth leader.  It is one of the […] source: https://www.cryptopolitan.com/aptos-one-of-most-successful-l1-1800-growth/

The U.S. Securities and Exchange Commission charged three individuals on Dec. 11 with impersonating securities brokers and investment advisers to execute a scheme involving digital assets. The complaint names three Nigerian nationals and alleges that their actions diverted more than $2.9 million from at least 28 investors by directing them toward fraudulent platforms, then instructing […] The... source: https://cryptoslate.com/sec-charges-trio-for-impersonating-securities-brokers-in-2-9-million-bitcoin-scam/

According to a post by Coinbase International on the X platform, “Coinbase International set a new single-day trading record. On December 10, the nominal trading volume exceeded US$12.5 billion, setting a new historical record.”

SNS 인플루언서들이 암호화폐를 홍보하며 법적 논란이 가열되고 있다. 일부 인플루언서는 불법적 활동으로 투자자 피해를 초래하며, 국제적으로 규제 강화 요구가 높아지고 있다. 전문가들은 시장 신뢰 회복을 위해 명확한 책임 규정이 필요하다고 주장한다. source: https://inteliview.kr/crypto/article-9230/

As an emerging technological trend, decentralized AI is gradually demonstrating its advantages in data privacy, security, and cost-effectiveness.

Golden Finance launches Golden Web3.0 Daily to provide you with the latest and fastest news on games, DeFi, DAO, NFT and Metaverse industries.

VBE (Voting Bloc Entropy) is an innovative indicator that quantitatively evaluates the degree of centralization of DAOs and reveals governance risks through clustering and entropy calculations.

Stablecoins are a vital component in the crypto space, and their stability and decentralization have become key competitive points.

Tracking Nvidia's holdings in concept stocks has important reference value. Investors can continue to pay attention to Nvidia's increase in holdings in related concept stocks, the progress of AI commercialization, revenue growth and gross profit margin changes, new product/service releases, changes in the industry's competitive landscape, etc.

Optimism once again teamed up with Uniswap to launch the ERC-7802 cross-chain asset standard, bringing new prospects for improving the efficiency of cross-chain transactions.

Xan’s support and development of the Bitcoin ecosystem lags behind many other exchanges, so this incident has limited impact on Inscription.

However, with the rapid development of AI technology, the threshold for generating false content has been greatly lowered, which further brings more potential risks.

Instead of having separate pools for each stablecoin, Perena will create one large stablecoin pool to make trading between them easier and cheaper.

This article will give you a quick introduction to ZK, verifiability, and privacy projects on Solana.