Charles Hoskinson Predicts Multichain Future for Cardano with Midnight Integration
Charles Hoskinson, founder of Cardano, claims the upcoming integration of Midnight will make Cardano a multichain ecosystem. In a tweet on Tuesday, he emphasized that Midnight’s mainnet launch will enhance Cardano’s ability to connect with other blockchain networks like Ethereum and Solana. Currently, Midnight operates on a testnet launched in early October. This phase allows developers worldwide to explore and contribute to the network’s progress. Midnight uses zero-knowledge (zk) technology to offer a data-protected protocol, enabling users to interact with decentralized applications (dApps) while preserving data privacy. Hoskinson Highlights BitcoinOS Partnership Concerns Hoskinson also addressed Cardano’s collaboration with BitcoinOS (BOS) during a discussion on X. He revealed that Input Output Global (IOG) will focus on building decentralized finance (DeFi) solutions on Bitcoin next year. Surprisingly, this initiative will involve a new partner, Fairgate Labs, instead of BitcoinOS. Related article: Cardano (ADA) Drops 4.5% After Hackers Compromise Cardano Foundation’s X Account Cardano enthusiasts questioned this decision, with Angry Crypto Show asking why BitcoinOS was not chosen. Hoskinson clarified that Fairgate Labs created the technology underpinning BitcoinOS. He also mentioned that BitcoinOS’s plans to launch its own token had sparked debates within the ecosystem. Cardano’s Liquidity Goals with Midnight Hoskinson reassured the community that Midnight would allow Cardano to tap liquidity from other chains, even if BitcoinOS abandons the network. He urged BitcoinOS founder Edan Yoga to confirm BOS’s commitment to Cardano and suggested launching BOS as a native Cardano token. Yoga responded by affirming that BOS will integrate into Cardano as a recursive token, describing it as an innovative addition to the ecosystem. Related article: Charles Hoskinson Unveils Key Updates in Hydra Development Two months ago, Cardano’s EMURGO partnered with BitcoinOS to deploy smart contracts on the Bitcoin network. This collaboration aims to enable Cardano to access Bitcoin’s liquidity, further solidifying its multichain aspirations. Midnight’s integration and strategic collaborations mark a significant step in Cardano’s journey to becoming a multichain ecosystem.
Shiba Inu (SHIB) Shows Signs of Recovery After Recent Price Dip
Shiba Inu (SHIB) is making a comeback after two days of significant price decline driven by whale activity. The meme coin’s value dropped to a low of $0.00002434 earlier this week, reflecting an 11.72% decline over the past seven days. However, SHIB’s price has since rebounded, climbing 0.99% in the last 24 hours to reach $0.0000272. Market Liquidity Fuels Recovery As an established meme coin, Shiba Inu benefits from ample market liquidity, which supports rising demand during price rebounds. Current market data shows SHIB’s trading volume at $2.28 billion. While this figure has declined on a daily basis, it underscores the active trading by SHIB whales and retail investors. This activity indicates growing interest in the token’s potential recovery. Related article: SHIB Burn Rate Skyrockets: Can It Boost the Price? Shiba Inu’s next goal is to reclaim the $0.00003 price mark, a key resistance level. If achieved, it could push SHIB’s weekly high beyond $0.000033. Technical indicators support this outlook. The Relative Strength Index (RSI) currently stands at 42.56, suggesting room for growth. Source: CoinMarketCap Meanwhile, the Moving Average Convergence Divergence (MACD) indicator on the SHIB/USDT 4-hour chart points to a possible bullish trend. The MACD line is close to crossing above the signal line, and if this crossover occurs, SHIB’s price could surge toward the $0.00004 level. Bearish Risks Remain Despite bullish signals, SHIB faces risks. If the bullish momentum falters, the token may retest the $0.0000244 support level. This bearish scenario could unfold if whale activity slows or if broader market conditions turn negative. Related article: SHIB Sell-Off: Nearly a Trillion Tokens Unleashed by Whales Shiba Inu’s recent performance has played out amid market uncertainty and profit-taking from over-leveraged positions. Critics within the broader cryptocurrency community have fueled Fear, Uncertainty, and Doubt (FUD). However, Shiba Inu’s development team has taken steps to restore confidence. By emphasizing product development and key milestones, they aim to reassure the community about SHIB’s long-term potential. Community optimism remains high, thanks to ongoing developments like the Shibarium transaction boom and the rising Shiba Inu burn rate. These factors signal progress in the project’s ecosystem, driving hope for a sustained price recovery. If these positive trends continue, SHIB could maintain upward momentum in the coming days.
XRP Struggles at $2.10 Support: What’s Next for Investors?
XRP’s price has dropped from a recent peak of $2.80 to its current level of $2.20. This movement marks a correction phase that mirrors broader market trends. A bearish channel is now forming on XRP’s price chart. While this might appear negative, it could also be seen as a healthy cooling-off period following an extended rally. Shifting Market Momentum Initially, strong buying interest drove XRP’s price higher, as shown by the significant spike in trading volume. However, momentum has since faded, with volumes noticeably lower during the pullback. Currently, XRP is testing a critical support level at $2.10. If this level fails, the next support zones to watch are $1.84 and $1.62. Source: CoinMarketCap The market’s response at these levels will determine whether XRP stabilizes or faces additional selling pressure. The recent sell-off has triggered over $1 billion in liquidations, forcing many over-leveraged positions to close. Related article: XRP Loses Position as Third-Largest Crypto Amid Stablecoin Delay This cascade effect intensified XRP’s downward movement. On the positive side, this liquidation process clears speculative excess from the market, which often supports healthier price action in the long term. Short-Term Pain, Long-Term Potential Although the correction may feel painful for short-term traders, it could offer long-term benefits. Historically, similar market events have paved the way for stronger price action later. If XRP maintains support at $2.10, buyers may regain control, leading to a potential reversal. Bulls will look to reclaim the $2.50 resistance level as a sign of recovery. Breaking out of the descending channel would be the first sign of a bullish resurgence. Related article: XRP Whale Moves 22 Million Tokens, Signaling Bullish Confidence Investors should stay cautious as XRP navigates its current correction. Monitoring XRP’s price action near key support levels and observing broader market sentiment will be essential. For long-term holders, deeper corrections could provide attractive entry points. The next few days will be crucial in determining XRP’s trajectory. If critical supports fail, a steeper decline may follow. However, a successful defense of these levels could restore bullish momentum, offering a potential pathway to recovery.
Shiba Inu Eyes Critical Resistance as Market Volume Declines
Shiba Inu (SHIB) approaches a crucial resistance level that could shape its short-term price direction. The resistance, linked to a transactional level of five trillion SHIB, is likely to trigger substantial selling pressure. This barrier may either support SHIB’s upward movement or force a retracement, making it a pivotal moment for the asset. Price Momentum Slows After Recent Rally SHIB’s price action reveals a mixed outlook. Despite an earlier rally, momentum appears to be fading. Bulls have struggled to maintain control, failing to push the price past the key $0.00003300 mark. Weak market participation and low trading volume have limited the potential for a sustained upward move. Source: CoinMarketCap Currently, SHIB hovers near $0.00003000, a level that has acted as short-term support. However, this support level may not hold for long. The past few days have seen a significant drop in trading volume, weakening the support at $0.00003000. Related article: Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges If the price breaks below this zone, SHIB could decline to $0.00002700 or even $0.00002500. Historical data shows that these levels have served as important support points during past trading cycles. Potential Upside If Resistance Breaks On the flip side, a rally could emerge if bulls regain momentum. If SHIB surpasses the $0.00003300 resistance, it may aim for $0.00003500 or higher. For this to happen, trading volume and market participation must increase. Without a boost in market activity, sustained bullish momentum appears unlikely. Related article: SHIB Burn Rate Skyrockets: Can It Boost the Price? The Relative Strength Index (RSI) signals market indecision. Currently, SHIB remains in a neutral zone, reflecting a lack of clear bullish or bearish dominance. This uncertainty makes it harder for the token to maintain its previous bullish momentum. Investors should keep a close eye on two critical levels: $0.00003300 on the upside and $0.00003000 on the downside. A breakout above $0.00003300 could signal a bullish reversal, while a breakdown below $0.00003000 might trigger a deeper decline. Given the market’s current indecisiveness, caution is advised as SHIB navigates this crucial resistance level.
XRP Whale Moves 22 Million Tokens, Signaling Bullish Confidence
Despite XRP facing market volatility, optimism around the asset remains high. Whale Alert, a crypto tracking service on X, revealed a substantial on-chain transaction involving 22,018,660 XRP. The transfer, worth approximately $50,355,056, originated from Binance, the world’s largest cryptocurrency exchange, and moved to a private wallet. This action suggests that the whale may intend to secure XRP for long-term storage. Such a move demonstrates confidence in XRP’s future value. Transfers to private wallets generally indicate a bullish sentiment, as these tokens are unlikely to re-enter the market for immediate selling. Ripple Effect on Market Dynamics Large-scale acquisitions by XRP whales can positively influence market dynamics. These purchases tend to reduce selling pressure, which often encourages other investors to buy more. Consequently, this could lead to a price increase. Market trends show that reduced selling activity coupled with heightened demand often boosts an asset’s value. Related article: XRP Loses Position as Third-Largest Crypto Amid Stablecoin Delay Earlier reports highlighted a surge in interest after XRP surpassed the $2 mark. Institutional interest further amplified this sentiment. Notably, Nasdaq-listed Worksport expressed plans to gain crypto exposure through XRP and Bitcoin. Steven Rossi, CEO of Worksport, described XRP as an increasingly reliable store of value. Such institutional endorsements strengthen confidence in the token and its market potential. XRP Struggles to Maintain Key Levels At the time of writing, XRP trades at $2.26, reflecting a 5.32% drop over the past 24 hours. The token briefly dipped to $2.23 before recovering, showcasing its struggle to stay above the $2 threshold. Related article: XRP Trading Surges as Ripple CEO Sparks Discussions Among XRP Army Earlier this week, market speculation hinted at XRP potentially surpassing the $3 mark. However, it faces resistance between $2.85 and $2.90, making this milestone challenging to achieve. Amid ongoing hype around an XRP ETF and favorable U.S. regulatory moves, XRP has a strong foundation for future growth. While the path remains uncertain, these developments signal a promising outlook for the token’s value.
SHIB Burn Rate Skyrockets: Can It Boost the Price?
The Shiba Inu (SHIB) community has significantly increased the burn rate of the meme coin, as revealed by Shibburn, a data tracker. Over the past 24 hours, the burn rate has skyrocketed by over 2,500%, with 68,170,710 SHIB removed from circulation. This dramatic increase has sparked anticipation among the SHIB community, which is closely watching the coin’s price movements as it attempts to surpass the $0.000033 resistance level. Major Burn Transactions Drive Surge Most of the burned tokens were destroyed in two significant transactions. The largest burn recorded involved 53,423,510 SHIB, while another transaction saw 14,742,910 SHIB sent to dead wallets. These transactions collectively contributed to the noteworthy rise in the burn rate. Just two days earlier, Shibburn reported an even larger increase in SHIB burns. The burn rate soared by 144,045%, with 2,041,299,351 SHIB permanently removed from circulation. Related article: Shiba Inu Supply Shrinks as Whale Burns Boost SHIB Value Among these, 2,020,624,700 SHIB were burned in a single transaction by @Shibtoshi_SG, the founder of SquidGrow cryptocurrency. Over the past week, the community has managed to burn a total of 2,985,633,942 SHIB coins, showcasing its commitment to reducing the circulating supply. Price Movements Amid Burning Activity Despite the aggressive burning, SHIB’s price has struggled to maintain upward momentum. Over the last 24 hours, SHIB’s value declined by approximately 8.55%, dropping from $0.000033 to $0.000030. This followed a 24% surge earlier in the week, during which SHIB made a second attempt to break above the $0.000033 resistance. Related article: Shiba Inu Lead Clarifies Role in Hawk Tuah Airdrop Controversy The recent burn activities demonstrate the community’s dedication to supporting SHIB’s long-term growth. Although the current price stands at $0.00003014, the repeated efforts to surpass key resistance levels indicate optimism. Investors remain hopeful that these burns will reduce supply and positively impact SHIB’s price in the future. As the week progresses, SHIB enthusiasts continue to monitor both burning metrics and price movements closely, expecting the coin to gain upward momentum soon.
Shiba Inu Lead Clarifies Role in Hawk Tuah Airdrop Controversy
Shiba Inu lead developer Shytoshi Kusama has spoken out about the controversy surrounding the Hawk Tuah (HAWK) meme coin’s launch. In a series of tweets, Kusama clarified his limited involvement, explaining why he distanced himself from the project. He revealed that the Hawk Tuah team approached him months ago, asking him to become a Key Opinion Leader (KOL) or influencer. However, he turned down the offer, citing more pressing priorities within the Shiba Inu ecosystem. Airdrop Offer and Transparency Despite his initial rejection, the Hawk Tuah team reconnected with Kusama shortly before the token’s launch. They offered to airdrop $60,000 worth of HAWK tokens to the Shiba Inu community. Kusama, however, remained unimpressed. Related article: Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges He acknowledged that, due to Shiba Inu’s decentralized nature, the airdrop would proceed regardless of his input. To maintain transparency, he allowed a retweet from Shiba Inu’s official account but emphasized that no formal partnership existed between Shiba Inu and Hawk Tuah. Market Collapse and Allegations HAWK launched on December 4, peaking at a $500 million market cap before crashing by 91% within hours. Accusations soon followed, with reports of insider wallets and sniper activity controlling 90% of the token’s supply. Related article: Shiba Inu Developer Hints at Shifu Token: A New Addition to the Ecosystem One wallet allegedly profited $1.3 million from rapid trading. Kusama expressed disappointment, criticizing the Hawk Tuah team for poor planning and pump-and-dump tactics. He pointed out evidence of insider trading, contradicting the team’s claims of fair distribution. In response, the Hawk Tuah team proposed an airdrop of tokens to Kusama, suggesting he distribute them to 3,000 wallets. Kusama rejected the offer, stating, “I don’t work for you. You work for the army.” He urged the team to follow proper procedures if they wanted to engage with the Shiba Inu community. Ultimately, Kusama left the decision to the SHIB Army. He created a poll for the community to decide whether to ignore or burn the airdropped tokens. Voting remains ongoing.
Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges
Shiba Inu (SHIB) continues to attract attention due to recent price movements and positive on-chain data. Its resilience amid broader market uncertainties has piqued investor interest, especially those eyeing a potential recovery. Notably, 56.34% of SHIB holders are currently profitable, highlighting strong returns at existing price levels. Key Support and Resistance Levels SHIB’s activity clusters between $0.000027 and $0.000029, marking a crucial support zone. Meanwhile, resistance looms between $0.000031 and $0.000033, posing a challenge for sustained upward movement. Breaking through this resistance could pave the way for further gains, while maintaining the support zone is essential to avoid deeper pullbacks. Related article: Shiba Inu Developer Hints at Shifu Token: A New Addition to the Ecosystem Although 129,000 to 139,000 addresses are profiting, only 16-45% of addresses are active in the current price range. This imbalance signals potential for increased demand if market sentiment improves. The gap suggests room for additional accumulation as investor confidence strengthens. Recent Price Fluctuations and Volume Trends SHIB recently rallied to $0.000033 before retracing to $0.000031. While this pullback may seem concerning, the asset remains in a promising position. Increased trading volumes and steady price recoveries hint at a possible return to an upward trajectory. Source: CoinMarketCap Immediate resistance stays at $0.000033, with a potential breakout pushing prices toward $0.000035. However, losing support at $0.000026 could lead to retesting the $0.000022 zone, signaling deeper corrections. Related article: Shiba Inu Targets New Peaks Amid Bullish Sentiment Shiba Inu’s long-term success hinges on its ability to sustain momentum and break through significant resistance levels. Expanding network engagement and rising on-chain activity suggest growth opportunities. However, broader market recovery and stronger bullish sentiment remain vital for SHIB’s continued progress. Holding 108 billion SHIB may not guarantee success, but consistent market support and favorable conditions could drive future gains. SHIB’s resilience and market positioning indicate potential, but its trajectory will depend on overcoming key hurdles.
XRP Loses Position as Third-Largest Crypto Amid Stablecoin Delay
Ripple officially announced the delay of its stablecoin, $RLUSD, on December 5. The company revealed the postponement via its social media platform, X, stating, “$RLUSD isn’t launching today.” The launch now awaits approval from the New York Department of Financial Services (NYDFS). XRP Price Drop and Market Impact Following the announcement, XRP’s price fell sharply. It dropped from $2.59 to $2.31 within 24 hours, according to CoinMarketCap. This decline resulted in XRP losing its spot as the third-largest cryptocurrency, falling behind Tether (USDT), which holds a market cap of $135.8 billion. Source: CoinMarketCap As of now, XRP’s market cap stands at $139.24 billion, reflecting a 8.30% decrease in the past day. XRP’s 24-hour trading volume also saw a significant drop. Related article: Ripple (XRP) Prepares for Potential Year-End Token Sell-Off in 2024 It fell to $27.55 billion, marking a 30% decrease compared to the previous day. Despite this setback, XRP still holds its position ahead of Solana (SOL) and Binance Coin (BNB), even as BNB reached an all-time high on December 4. Market Sentiment and Speculation Analysts point to panic selling as a possible reason for XRP’s decline. Glassnode data highlights increased selling pressure, with trading volumes falling from $32 billion to $16 billion on December 4. This cooling-off period may have contributed to XRP’s market cap drop and loss of ranking. Related article: XRP Transfers Spike: Whale Moves $156 Million in 8 Hours Stablecoins are seeing a surge, with a 24-hour trading volume of $317.13 billion. Ripple’s success with $RLUSD is crucial for enhancing its On-Demand Liquidity platform, which facilitates fast cross-border payments. A successful launch could potentially boost XRP prices. Bollinger Bands indicate reduced volatility, as the bands have narrowed. XRP recently tested resistance at $2.74, with support holding around $2.21. Traders now await a breakout or breakdown to signal XRP’s next major price move.
XRP Transfers Spike: Whale Moves $156 Million in 8 Hours
Prominent blockchain tracker Whale Alert identified two significant XRP transactions. One of these, involving 39,999,989 XRP valued at $103.18 million, went directly to Coinbase, the largest U.S. cryptocurrency exchange. The second transfer, totaling 19,999,989 XRP worth $52.97 million, moved between anonymous wallets. In total, these two transactions accounted for roughly 60 million XRP, equivalent to $156 million. XRP Price Rebounds After Sudden Drop XRP’s price recently experienced a volatile shift. Following a sharp 16% drop from $2.86 to $2.41, the coin rebounded by 10%, trading at $2.56. This recovery comes as XRP solidifies its position as the third-largest cryptocurrency on CoinMarketCap. Increased whale activity appears to be fueling this momentum. Related article: XRP Predicted to Double Its All-Time High Price Santiment data confirmed heightened whale activity earlier this week. Over the weekend, large investors amassed 160 million XRP, spending around $380 million. On Dec. 3, Whale Alert tracked six notable transactions totaling 273.4 million XRP. Among them were transfers of 100 million and 60 million XRP. These movements involved South Korean exchanges Bithumb and Upbit. Source: CoinMarketCap As XRP soared to $2.49, its highest level since January 2018, whales holding between 1 million and 10 million XRP accumulated 679.1 million coins, valued at $1.66 billion. Smaller investors also joined in, acquiring an additional 5.5 million XRP. Ripple Issues Scam Warning Amid Rising Market In light of XRP’s recent surge, Ripple issued a scam alert on Dec. 2. CEO Brad Garlinghouse released a video warning the community about fraudulent schemes. Scammers often promise double returns in exchange for XRP. Related article: XRP Sees Massive Growth After Forbes Criticized It as “Zombie” Token Garlinghouse emphasized that neither Ripple nor its executives, including CTO David Schwartz and President Monica Long, would ask for XRP in such a manner. Ripple’s message urged users to “stay aware and stay safe.” This proactive approach highlights the risks accompanying rapid market gains and encourages vigilance among investors.
