Coinedition
AI tokens break out simultaneously, signaling a potential bull run. INJ, GRT, and RENDER break out of bull pennant amid crypto market rally. AI tokens’ movement pattern suggests bullish breakout confirmation.
The Australian Treasury releases a consultation paper on the adoption of the CARF. The CARF, developed by the OECD, enables authorities to collect and share crypto tax-related information. The department invites public feedback on the proposal, with the consultation closing on January 24, 2025.
DEGEN’s recovery near critical support zones suggests a potential 30%-50% price rally if momentum holds. Despite declining trading volume, rising open interest and balanced sentiment indicate sustained engagement. Liquidation data shows $407K losses, highlighting volatility risks as DEGEN tests key resistance zones.
The South Korean Democratic Party confirms its decision to implement a crypto tax by January 2025. Democratic Party’s policy committee Chairman, Jin Sung-joon, dismisses concerns about challenges. The party rejected suggestions for the suspension of the tax implementation for two years.
VeChain (VET) has recovered its bullish momentum. The supply chain crypto gained 134% within three weeks. Analysts are watching out for VET’s milestones.
Kraken is set to list 19 new tokens, including BNB, DYDX, DOGS, and GOAT. The exchange will integrate new blockchains like BNB Smart Chain, dYdX, and Arweave to support these tokens. Kraken’s listing strategy mirrors the trend of U.S.-based exchanges like Coinbase and Robinhood adding tokens amid regulatory easing.
Rumored appeal withdrawal by the SEC triggered XRP’s recent rally. Experienced lawyer expects XRP volatility to continue until January 15. The crypto community is optimistic ahead of Gary Gensler’s expected resignation.
Wyoming excludes Cardano and its Midnight project from its state-backed stablecoin development shortlist. Charles Hoskinson criticizes the process as opaque and potentially influenced by Ethereum ties. Hoskinson hints at possible legal action and warns of political consequences.
The Altcoin Season Index at 32 indicates that Bitcoin currently dominates the market. A slight increase in altcoin performance suggests the potential for a shift in market dynamics. Bitcoin nearing $100,000 and the altcoin market cap approaching $492 billion may trigger altseason.
Bitcoin is targeting $180,000 as its price and regulatory landscape shift after the U.S. election. Bitcoin dominance has reached 59%, driven by pro-crypto policies and increasing institutional interest. Mining activity and crypto equities are surging, with equities rising 47% and outpacing Bitcoin’s gains.
