Bitcoin is gaining popularity as a tool for international trade in Russia. According to Finance Minister Anton Siluanov, the nation is employing Bitcoin and digital financial assets (DFAs) within an experimental legal framework.
These changes come as Russia seeks to reduce its reliance on conventional currencies amid geopolitical upheavals. Siluanov highlighted Bitcoin’s significance in “creative settlements,” presenting it as a potential alternative to the US currency.
According to Reuters, Russia’s finance minister said on Wednesday that Russian legislation has changed to allow companies to use Bitcoin and other digital currencies in international payments and take steps to legalize the mining of cryptocurrencies including Bitcoin.…
— Wu Blockchain (@WuBlockchain) December 25, 2024
This acceptance coincides with Russia’s aims to develop domestic Bitcoin mining and enhance its usage in sovereign-level transactions by 2024.
While Siluanov advised against cryptocurrency investments because they are speculative, Bitcoin’s incorporation into international trade increases its utility and popularity. This smart move is likely to boost Bitcoin values, especially while geopolitical concerns remain.
MicroStrategy fuels Bitcoin rally with aggressive accumulation
MicroStrategy, which is already well-known as a prominent institutional investor in Bitcoin, has revealed intentions to issue more shares to increase its cryptocurrency holdings. This comes after it purchased $561 million in Bitcoin, marking its seventh straight acquisition week.
Bitcoin, which is now trading at $98,117, increased by 0.32% in response to the announcement, indicating the market’s optimistic stance.
Bitcoin rose on Thursday after the digital asset’s stockpiler MicroStrategy announced a plan to issue more shares, a move that would allow it to buy even more tokens https://t.co/KOz4tc4d28
— Bloomberg Crypto (@crypto) December 26, 2024
MicroStrategy’s overall Bitcoin (BTC) holdings boost institutional trust in digital assets, offering some stability in the midst of market turbulence.
With Bitcoin’s yearly growth rate above 135%, outpacing conventional assets such as gold and global stocks, institutional purchases like this are anticipated to maintain long-term price momentum.
Ripple’s RLUSD stablecoin promotes blockchain adoption
Ripple launched its RLUSD stablecoin on Singapore’s Independent Reserve market, making its debut in the area. The stablecoin, which is linked 1:1 to the US dollar, promises to simplify cross-border transactions and improve decentralized financial (DeFi) applications.
RLUSD is supported by USD reserves and operates under tight New York financial rules. It connects with the Ethereum and XRP Ledger networks.
While Ripple’s primary focus is on stablecoins, its invention indirectly benefits the entire cryptocurrency ecosystem, including Bitcoin, by increasing institutional and retail interest in blockchain-based financial solutions.
Bitcoin technical outlook: consolidation with bullish potential
Bitcoin has stabilized after completing a 50% Fibonacci retracement from its previous low of $92,126 to its high of $108,400. Bitcoin is now trading at $98,117, with an immediate resistance level of $102,207. A breakout might lead to additional resistance levels of $104,954 and $108,400.
Failure to maintain the $100,293 pivot may result in a decline to $95,717, with additional downside danger at $92,139.
Technical indicators show a neutral to positive trend. The Relative Strength Index (RSI) is at 57.39, indicating modest buying activity, while the 50-day Exponential Moving Average (EMA) of $97,427 provides strong support. Traders should look for a clear rise over $102,207 to confirm the bullish trend.
Bitcoin’s increased integration into commerce, institutional holdings, and blockchain developments reinforces its status as a transformational global asset.
Bitcoin stays steady, but SOLX presale catches attention
While Bitcoin’s price has been relatively constant, a developing possibility has piqued investors’ interest. Solaxy’s native token, $SOLX, has had a tremendous presale success, generating more than $5.34 million in a short period. This layer-two solution for the Solana blockchain claims to alleviate scalability difficulties by eliminating congestion, mistakes, and delays, solving the persistent congestion that Solana has experienced.
As interest in meme coins and the Solana ecosystem rises, Solaxy’s novel method may provide the scalability required for the network’s future expansion. With the presale coming to a finish, the significant capital increase signals that $SOLX will be in high demand once it is listed on decentralized markets.
In addition to the enthusiasm around the presale, Solaxy’s early success may lead to possible listings on major centralized exchanges (CEXs), increasing its chances.
Simply visit the Solaxy website, link your wallet, and purchase $SOLX with ETH, USDT, or BNB. You can also pay with a bank card.
Dogecoin’s 32% crash can only be recovered by whales
Dogecoin has failed to recoup from recent losses, with demand dropping significantly in recent days. As the year comes to a close, many investors prefer to avoid the volatility that comes with this transitional phase.
This might expose DOGE to future price drops until major market activity resumes.
Dogecoin whales are the hope
Dogecoin whales play an important role in preventing the altcoin’s further collapse. Transactions over $100,000 have increased to 9,410, the highest level since November 2021. This increase in high-value transactions implies strong whale activity, which has traditionally been critical to stabilizing Dogecoin during turbulent periods.
If whales continue their present activity levels, they may offer the liquidity and market support required to protect DOGE from additional declines. However, this assistance must continue since broader investor involvement remains low. For Dogecoin to regain its footing, a steady stream of high-value transactions is required.
Dogecoin’s Chaikin Money Flow (CMF) indicator is hanging at the neutral line, indicating that the market is experiencing minor inflows. This shows that investors are still cautious, maybe owing to uncertainty in broader market circumstances or declining interest in DOGE.
The lack of major inflows shows market players’ hesitation. Without a clear increase in purchasing pressure, Dogecoin’s macro momentum may weaken further, leaving it reliant on whale activity and external triggers to maintain price levels.
DOGE price prediction: Securing support
Dogecoin is now trading at $0.32, a level that it hopes to establish as a support floor. Securing this level is critical for the meme coin’s recovery from its recent 32% drop from $0.46. Holding this support might suggest a shift in investor opinion.
The next goal for DOGE is to turn $0.36 into support and continue its upward trajectory into $0.40. Achieving this milestone will reestablish trust in the cryptocurrency, opening the door for long-term development and increasing market activity.
However, failure to secure $0.32 as a support level may result in a reduction to $0.28. Such a drop would contradict the positive prognosis, making Dogecoin vulnerable to additional losses. Monitoring these key levels will be essential for traders and investors in the coming days.
CHILLGUY meme coin tanks 14% amid plagiarism controversy: what’s next?
CHILLGUY’s price dropped 14%, with online users saying that the CHILLGUY meme currency was plagiarized from the Thailand booklet character RELAXBOY.
CHILLGUY meme coin has dominated the internet and cryptocurrency sector. For weeks, people have been discussing this laid-back anthropomorphic dog. However, its success resulted in several disputes. One example is the plagiarism allegations made by netizens, which caused the CHILLGUY price to plummet by almost 14% in just one day.
CHILLGUY meme coin might be plagiarised from Thailand
According to many stories, the Just a Chill Guy meme currency first appeared on social media in October 2023, with Philip Banks claiming to have created it. However, he despised the concept of utilizing his artwork for corporate advertising and meme cryptocurrency growth. As a result, Philip issued legal threats against X, which impacted the CHILLGUY price performance. However, a recent Reddit post provided additional details about the case, sparking a plagiarism issue.
A Reddit user uploaded a photograph of a booklet, raising the possibility that the meme was plagiarised from a Thai booklet. Instead of the CHILLGUY, the brochure referred to it as RELAX BOY, whose face is switched with the Dog on the CHILLGUY meme coin. Interestingly, the timing for this booklet’s release is a little hazy. Some users stated that it is six years old, while others claimed that it is eight years old.
Chill guy was originally came from Thailand
byu/Kaito8008 inCHILLGUYCOIN
However, there is insufficient information regarding this pamphlet, and it lacks supporting documentation. Surprisingly, some individuals believe AI technology was used to construct this bogus reference. Regardless, investors suspect that this is an attempt to create enthusiasm around the CHILLGUY meme currency in order to increase its performance.
CHILLGUY price dropped 14% but will recover if
Amid the ‘Just A Chill Guy’ issue, the CHILLGUY price fell 14% today and is now trading at $0.1792. As a result, its market capitalization has decreased to $179.18 million, while trading volume has climbed by 6%, indicating higher investor activity. Although the dispute is minor, substantial selling pressure has enveloped the token, causing a downturn.
According to the TradingView technical charts, the CHILLGUY meme currency is in a strong selling zone, with moving averages on all timeframes and MACD supporting the current downturn. Furthermore, while the RSI is neutral, indicating that current trends will continue, it is also close to an oversold area. If the token enters the oversold region, a trend reversal might occur, producing strong buying pressure and contributing to the CHILLGUY price recovery. A few more technical signs point to the same conclusion, but only if a buyer enters the market.
What’s in there for you?
Solana meme coins are in hot demand this year. Thousands of cryptocurrency tokens have been actively launched on the Solana network by creators. It features the “Just a Chill Guy” meme coin, which has sparked a plagiarism debate, with some claiming it originated from the 6-8 year-old Thailand booklet character RELAX BOY. However, the absence of proof raises skepticism, causing others to believe that this is intended to inflate the CHILLGUY Price. With that, the CHILLGUY meme currency has begun a slump, shedding 14% of its value in the previous 24 hours, presenting a purchasing opportunity. However, technical analysis predicts a continued fall until purchasing demand arises and drives the token upward. Regardless, the coin is in a long-term downturn, having fallen 74% from its all-time high of $0.667 a month ago. As a result, rigorous and strategic preparation is required before making investment decisions
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