Litecoin (LTC) surged over 8% to around $116, breaking out of an ascending triangle pattern, with traders eyeing a potential rally towards $126. The recent price action is fueled by optimism surrounding a possible spot Litecoin ETF, as the SEC acknowledged an application for it, increasing investor sentiment. However, profit-taking may slow momentum, with on-chain metrics indicating a spike in realized profits, which could lead to increased selling pressure and a potential retest of lower support levels.
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News from KEN
Generated 1 posts last week Concerns Over Financial Incentives for Biometric Data and Informed Consent
Evin McMullen, co-founder of Privado ID, argues that financial incentives for biometric data violate informed consent, especially in emerging markets where economic challenges can lead to coercion. Governments worldwide, including Kenya, Spain, and Brazil, have imposed bans or restrictions on Worldcoin due to data security and ethical concerns surrounding its iris-scanning technology.
read moreEthereum Faces Critical Crossroads Amid MVRV Concerns and Institutional Bets
Ethereum’s MVRV ratio has dipped below a critical threshold, raising concerns of a potential 40% price drop reminiscent of June 2024. Despite this, institutional investors are heavily accumulating ETH, with some analysts predicting a surge to $10,000 if key support levels hold. The market is at a pivotal moment, with upcoming weeks crucial for ETH’s trajectory.
read moreCoinbase Expands Services in Argentina with New Regulatory Approval
Coinbase has received regulatory approval in Argentina to expand its services, allowing it to offer local payment methods in pesos and operate within the legal framework for virtual assets. The exchange plans to implement educational initiatives to enhance crypto literacy among Argentinians, who increasingly view cryptocurrency as a means to address financial challenges amid high poverty rates. With five million users, Argentina has emerged as a leading country in Latin America for crypto inflows, surpassing Brazil.
read moreBitcoin price predictions and market dynamics for 2025 and beyond
Bitcoin is projected to peak between $120,000 and $150,000, reflecting patterns from the 2016-2017 market cycle, according to Glassnode analyst James Check. While short-term holders could see a 66% profit and long-term holders 509%, market volatility remains a concern as speculative behavior may arise beyond $150,000. Experts advise a cautious approach, emphasizing the importance of analyzing market fundamentals and historical trends amidst potential corrections.
read moreBinance Labs rebrands to YZi Labs and expands into AI and biotech
Binance Labs has rebranded to YZi Labs, marking a strategic shift to expand its focus beyond blockchain and cryptocurrency into artificial intelligence and biotechnology. This change follows the departure of CEO Changpeng “CZ” Zhao, who will continue to play a key role alongside co-founder Ella Zhang, now leading YZi Labs.The firm aims to invest in transformative technologies across various stages of development, emphasizing long-term societal impact and innovation at the intersection of Web3, AI, and biotech. YZi Labs maintains a commitment to supporting over 250 projects globally, including the BNB Chain’s Most Valuable Builder program.
read moreMajority in Four Countries View Crypto as Solution to Financial Issues
A study by Coinbase reveals that over two-thirds of adults in Argentina, Kenya, the Philippines, and Switzerland view cryptocurrency as a solution to their outdated financial systems. In Kenya, 94% see crypto as a remedy, while 81% in the Philippines and 76% in Argentina share this belief. Swiss respondents are less optimistic, with only 67% believing crypto can address financial frustrations, reflecting a cautious approach to innovation in their traditionally strong banking system.
read moreWorldcoin Network Surges Amid OpenAI’s Project Stargate Announcement
Worldcoin Network’s WLD token surged over 4%, becoming the third best-performing cryptocurrency, amid excitement over OpenAI’s $500 billion Project Stargate. This rally occurred despite declines in major cryptocurrencies like Bitcoin and Ethereum, with WLD’s trading volume increasing by 22.50% to $819 million. The project, which uses iris scans for digital ID verification, has faced scrutiny and bans in several countries due to privacy concerns.
read moreCardano ADA Price Outlook Bullish Amid Rising Activity and Whale Accumulation
Cardano’s ADA is experiencing volatile price movements, currently trading just below $1 after a recent rally. Increased network activity and significant whale accumulation signal potential bullish momentum, with analysts suggesting a possible rise to $1.50 if the $1.10 resistance is broken. However, a decline in Total Value Locked indicates a need for stronger DeFi engagement to support long-term growth.
read moreXRP Shows Resilience with Strong Inflows and Bullish Breakout Potential
Ripple’s XRP has shown resilience amid a bearish market, with $41 million in inflows and a 4% weekly gain, while major cryptocurrencies declined. Technical indicators suggest a bullish breakout, with potential price targets of $4 and even $8, depending on market patterns. Analysts predict XRP could reach $16.50 by March 2025, driven by strong retail and institutional buying momentum.
read moreSolana’s TVL Reaches 12 Billion Amid TRUMP Memecoin Surge
Solana’s total value locked (TVL) surged to a record $12 billion, driven by the launch of the “Official TRUMP” memecoin, marking a nearly 50% increase in just a week. The SOL token also hit an all-time high of $255.38, reflecting a 3,000% rise since December 2022. Analysts are optimistic about further price growth, with potential targets reaching up to $685, although sustainability beyond current catalysts remains a concern.
read moreIOTA Advances Digital Identity and Tokenization with Rebased Protocol Upgrade
IOTA is advancing its vision of a digital world on-chain, despite recent market challenges, with plans for diverse infrastructures in banking, digital identity, and tokenization. The upcoming Rebased Protocol aims to enhance the ecosystem through features like staking rewards and the tokenization of Digital Product Passports using NFTs. Additionally, IOTA is collaborating with Realize to tokenize yield-bearing assets and is set to launch a $vUSD stablecoin, further expanding its capabilities.
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