Hey folks! Welcome back to another edition of The Blockchain Bulletin newsletter. Over the weekend, the crypto market presented a challenging phase, with some achieving remarkable milestones. Before the weekend commenced, SUI reached $5.31, garnering investor interest. Last year in December, the token aroused investor interest by marking 385% yearly growth. With its new ATH, SUI has overtaken SHIB, TON, and LINK and analysts speculate that its growth can be accelerated with an increase in developers.
Meanwhile, Ripple’s XRP is also making headlines with a bullish breakout. Analyst predict that it could soon reach $27. Additionally, the XRP community is closely monitoring developments in Ripple’s ongoing legal battle with the SEC to use it as a catalyst for its price surge.
In another significant development, Solana has unveiled a quantum-resistant vault aimed at securing user funds against future technological threats posed by quantum computing. This move enhances Solana’s blockchain security, attracting users and investors alike.
Bitcoin, the pioneer cryptocurrency, which recently completed 16 years, continues to demonstrate its dominance in the crypto world. The hash rate of the coin reached an all-time high of 1,000 exahashes per second (EH/s). This milestone highlights the network’s growing strength and security, driven by increased mining activity and advancements in mining technology. On the other hand, considering its price factor in the market, Robert Kiyosaki, the author of the best selling ‘Rich Dad, Poor Dad,’ predicted that the crypto would hit $175,000 to $350,000 by 2025, citing its limited supply and rising demand as key factors.
Satoshi Created the Kingdom and Saylor is Leading The TroopFocusing on the meme coin market, the Shiba Inu community made a substantial donation to the SHIB Karma Foundation to support the Maui People’s Fund (MPF). This act of generosity strengthened the community’s bond and enhanced the project’s reputation. It proves that blockchain and crypto have a real value.
On the other hand, DOGE jumped by 14% after a massive transfer took place, drawing attention from investors. While the open interest for DOGE surged by 30%, the RSI factor near the overbought area signals a potential resistance for the meme coin. Similarly, Stellar (XLM) witnessed a reversal in its month-long decline, with analysts pointing to increased adoption and strategic partnerships as driving factors behind its recent rally.
On the regulatory front, the IRS has delayed implementing new crypto tax rules, providing relief to investors and the broader crypto community. If further delayed, it could allow further clarification and adjustments to the regulations, ensuring a more balanced approach to crypto taxation. Additionally, FTX has initiated a repayment process, giving creditors with claims under $50,000 in 60-days. This move aims to restore trust and accountability in the wake of the platform’s previous controversies.
Do Kwon Denies Fraud Charges in US Related to TerraUSD CrashLastly, Charles Hoskinson, the founder of Cardano, has announced the upcoming launch of the Quantum Hosky game in January, further expanding the ecosystem’s entertainment and utility offerings. With innovative projects and significant milestones shaping the crypto landscape, the industry continues to evolve, reflecting its dynamic and transformative nature. With these developments, the crypto market is determined to enhance technological innovations and revolutionize the economy.
