Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA: ETH)

에 대한 최신 뉴스 Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA:ETH)

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Grayscale Ethereum Mini Trust

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화요일(10일)에 골드만삭스(NYSE:GS)CEO인 데이비드 솔로몬은 더 많은 규제 명확성이 제공된다면 골드만삭스가 주요 암호화폐의 현물 시장을 만드는 방법을 모색할 수 있다고 말했다.

골드만삭스 CEO, 규제 허용 시 비트코인·이더리움 현물 거래 고려

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최근 증권거래위원회(SEC)에 제출된 13F 공시에 딸면 글로벌 투자은행들이 암호화폐 관련 상장지수펀드(ETF)와 비트코인 대리 종목인 마이크로스트레티지에 대해 상당한 지분을 보유하고 있다는 사실이 밝혀졌다.

JP모건 등 글로벌 투자은행들, 비트코인과 이더리움 ETF에 대거 투자

Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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Grayscale Ethereum Trust (ETH) Common units of fractional undivided beneficial interest

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World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, continued to add momentum to the coins it was purchasing.
What happened: ONDO, a tokenization-themed cryptocurrency, zoomed over 11% to record-breaking highs, becoming the fourth-biggest market gainer over the last 24 hours.
The coin's trading volume surged over 73% to $483 million, suggesting significant buying pressure.
ONDO serves as the governance token of Ondo Finance, a decentralized finance platform built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) that tokenizes real-world assets.
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:00 p.m. EDT)</td>
</tr>
<tr>
<td>Ondo (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>)</td>
<td>+11.81%</td>
<td>$2.08</td>
</tr>
<tr>
<td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td>
<td>+8.25%</td>
<td>$1.28</td>
</tr>
</tbody>
</table>
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Another Ethereum-based coin, ENA, lifted to an eight-month high following an 8% increase in the last 24 hours.&nbsp;
ENA is the native token of Ethena, a protocol that offers a so-called synthetic dollar for DeFi uses.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500002/massive-crypto-exchange-witnesses-unusual-100-million-bitcoin-activity">Massive Crypto Exchange Witnesses Unusual $100 Million Bitcoin Activity</a>
The upsurge was powered by significant purchases by World Liberty Financial. The DeFi project spent $250,000 to buy 134,216 ONDO tokens on Sunday, on-chain data showed.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) just spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 134,216 <a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> an hour ago! Overall, since November 30, this fund has spent $44.75M to buy 6 crypto assets: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (cost: $30M, avg buy price: $3,701), now +$2.12M • 102.9… <a href="https://t.co/KBaKgqvvq1">https://t.co/KBaKgqvvq1</a> <a href="https://t.co/ez4dNwmATA">pic.twitter.com/ez4dNwmATA</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868450217491935553?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
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A day earlier, the fund acquired over $500,000 of ENA at an average buying price of $0.981.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a>! 3 hours ago, this fund spent 500,013 <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 509,955 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> at an average price of $0.981. Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… <a href="https://t.co/2jSNS2Oc00">pic.twitter.com/2jSNS2Oc00</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868073696663122207?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
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Since the beginning of December, the project has i<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">nvested more than $44 million</a> to bag cryptocurrencies like Ether, Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) along with ONDO and ENA.
World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">positioned himself as the &#8220;Crypto President&#8221;</a> through several bold commitments, and his involvement with any coin, no matter how minor, significantly piques the market&#8217;s interest.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a></li>
</ul>
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Trump-Backed World Liberty Financial's Purchases Trigger Strong Rally In These DeFi Tokens

The week was a rollercoaster ride in the cryptocurrency world. From Peter Schiff&#8217;s advice to President Biden to sell all U.S.-owned Bitcoin, to a bearish turn in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) markets, and a potential surge in Dogecoin&#8217;s value, there was no shortage of action. Here&#8217;s a closer look at these stories.
Peter Schiff&#8217;s Advice to Biden
Renowned economist Peter Schiff has urged President Joe Biden to sell all Bitcoin owned by the U.S. before his term ends. Schiff believes this move could help reduce the country&#8217;s growing budget deficit. He shared his advice via a post, calling it the &#8220;one good thing&#8221; Biden could do before making way for a potential Donald Trump presidency.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42404610/peter-schiff-advises-biden-to-do-one-good-thing-before-his-term-ends-sell-all-the-bitcoin-held-by-the-us">Read the full article here.</a>
Bitcoin, Ethereum, Dogecoin Turn Bearish
Despite U.S. Bitcoin ETF inflows nearing $10 billion, cryptocurrency markets were trading lower on Monday. This includes Bitcoin, Ethereum, and Dogecoin, all of which turned red.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42399235/bitcoin-ethereum-dogecoin-turn-red-timeline-got-bearish-trader-notes">Read the full article here.</a>
Dogecoin&#8217;s Potential Surge
Popular crypto trader and analyst Ali Martinez has expressed optimism about Dogecoin&#8217;s future. Following a dip in Dogecoin&#8217;s value, Martinez plans to buy more of the meme coin, stating that it&#8217;s still early in the DOGE bull cycle. He predicts that Dogecoin could potentially reach $18 if things &#8220;go wild&#8221;.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Read the full article here.</a>
Microsoft&#8217;s Bitcoin Proposal
Ripple&#8217;s Stablecoin Approval Ripple Labs secured NYDFS approval for its RLUSD stablecoin, marking a significant milestone in its market expansion. The new stablecoin, pegged to the US dollar, is part of Ripple&#8217;s strategy to capitalize on the growing demand for stablecoins.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42423570/ripple-secures-nydfs-approval-for-rlusd-stablecoin-xrp-price-up-9">Read the full article here.</a>
Bitcoin&#8217;s Next Move
After soaring in 2024 due to several catalysts, including Bitcoin ETFs and more companies acquiring the cryptocurrency, Bitcoin has dipped. As speculation grows about its next move, over 60% of Benzinga readers predict that new all-time highs will be hit next, while others anticipate a further dip to $85,000.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42482064/shiba-inu-burns-13-million-coins-in-24-hours-shib-chart-looks-primed-for-launch-very-soon-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burns 13 Million Coins In 24 Hours: &#8216;SHIB Chart Looks Primed For Launch Very Soon,&#8217; Says Trader</a></li>
</ul>
Photo courtesy: Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

$DOGE

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Schiff's Advice To Biden, Dogecoin's Potential Surge, Microsoft's Bitcoin Proposal, And More: This Week In Crypto

Asset manager VanEck&nbsp;has projected a significant upswing in the cryptocurrency market, anticipating record&nbsp;highs by the end of&nbsp;2025. This prediction outlines expectations for&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;to reach approximately $180,000 and&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&nbsp;to exceed $6,000.
What Happened: According to&nbsp;Matthew Sigel,&nbsp;head of digital asset research&nbsp;at VanEck, the firm <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-10-crypto-predictions-for-2025/">foresees</a> a 30% retracement in Bitcoin prices before these highs, with altcoins potentially experiencing&nbsp;sharper declines of up to&nbsp;60% during market consolidation in the summer.
VanEck also predicts the U.S.&nbsp;will adopt a Bitcoin strategic&nbsp;reserve in 2025, with regulators approving&nbsp;more crypto exchange-traded funds (ETFs),&nbsp;boosting institutional adoption.
This includes new SEC leadership approving multiple spot crypto ETPs, with Ethereum ETPs featuring staking and&nbsp;both Ethereum and Bitcoin ETPs&nbsp;allowing in-kind transactions and redemptions.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Next Move: $105,000 Or $85,000? Poll Finds Over 60% Say…</a>
Why It Matters: The cryptocurrency market has been a focal point for analysts and investors alike, with predictions of significant growth by 2025. A&nbsp;<a href="https://www.benzinga.com/24/12/42495703/bitcoins-2025-price-target-set-at-175k-minimum-analyst-predicts">recent analysis</a>&nbsp;highlighted Bitcoin&#8217;s potential to reach a minimum of $175,000, despite market fluctuations. This aligns with&nbsp;VanEck&#8217;s&nbsp;optimistic outlook.
However, the path to these highs may not be smooth. Analyst&nbsp;Michaël van de Poppe&nbsp;warned of potential&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">flash crashes</a>, suggesting strategic entry points for investors during these dips. This sentiment was echoed in another report indicating that Bitcoin and Ethereum are <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">nearing critical buying levels</a>.
Additionally, Bitcoin&#8217;s role in global economic strategies is evolving. At a recent conference, Anthony Pompliano emphasized Bitcoin&#8217;s potential as a <a href="https://www.benzinga.com/news/events/24/12/42484380/bitcoin-isnt-just-a-financial-tool-pompliano-calls-it-a-sovereignty-strategy">sovereignty strategy</a>, highlighting its use as a hedge against sanctions and its growing influence on national financial resilience.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42495680/crypto-analyst-foresees-altcoin-rally-and-sets-crucial-bitcoin-support-level">Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, purchased Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) worth $10 million on Wednesday.
What Happened:&nbsp;According to on-chain tracking platform Lookonchain, World Liberty Financial&nbsp;spent $10 million worth of stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) to buy 2,631 ETH at a per-unit price of $3,801. With this grab, its total ETH holdings shot up to around 14,571, worth over $56 million at the current market price.
The project also bagged $1 million in Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>), and $1 million in Aave (CRYPTO: AAVE.), on-chain data showed.
The purchases were made through&nbsp;the World Liberty Multisig wallet, with the funds being converted from USDC.
The World Liberty Financial team didn&#8217;t immediately return Benzinga&#8217;s request for clarification on these purchases.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump&#39;s World Liberty(<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>! In the past 9 hours, the World Liberty Multisig wallet spent 10M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 2,631 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at $3,801, 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 41,335 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> at $24.2, and 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 3,357 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> at $297.8.<a href="https://t.co/mtD0c2tvvo">https://t.co/mtD0c2tvvo</a> <a href="https://t.co/B11KvcwRJQ">pic.twitter.com/B11KvcwRJQ</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1867036708983935325?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446000/peanut-the-squirrel-popcat-goat-eclipse-dogecoin-shiba-inu-in-single-day-gains-on-exchange-listing-frenzy">Peanut The Squirrel, Popcat, GOAT Eclipse Dogecoin, Shiba Inu In Single-Day Gains On Exchange Listing Frenzy</a>
Why It Matters:&nbsp; Launched in September as a<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know"> hard fork </a>of the popular decentralized finance protocol Aave, World Liberty Financial is being promoted as a money market that will allow users to borrow, lend, and earn interest on cryptocurrencies. 
The WLFI token would serve as the platform's governance token, enabling users to engage in borrowing, lending, and other DeFi activities. 
Initially targeting a $300 million raise through the token presale, the platform reduced its goal to $30 million in October due to limited demand.
As of this writing, the project has raised $55.69 million, <a href="https://dune.com/fergmolina/world-liberty-financial" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to a Dune Analytics dashboard, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">bolstered</a> by a $30 million investment by cryptocurrency mogul Justin Sun, who eventually became the project&#8217;s advisor.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect,&nbsp;DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenues</a>.
Price Action:&nbsp; At the time of writing, Ethereum was exchanging hands at $3,935.93, rallying 7.48% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446237/xrp-price-explodes-20-to-2-43-after-ripple-receives-rlusd-stablecoin-approval">XRP Price Explodes 20% To $2.43 After Ripple Receives RLUSD Stablecoin Approval</a></li>
</ul>

$USDC

Trump-Backed World Liberty Financial Bags $10M In Ethereum: What's Going On?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has taken a sharp U-turn this week amid the broader cryptocurrency market&#8217;s decline, but that hasn&#8217;t deterred optimists.
What happened: The dog-themed meme coin has descended as much as 19% this week from the 7-day peak of $0.48. The downturn has been precipitated by Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) flash crash on Monday.
Widely followed cryptocurrency analyst Trader Tardigrade observed that DOGE was oscillating between the oversold and overbought zones on the macro chart and that the cycle top was still a long way away.
&#8220;DOGE has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10,&#8221; the analyst stated. &#8220;I consider this is the top of this cycle.&#8221;
Trader Tardigrade projected that after the top, DOGE could fall to the support zone of $0.8 to $1.8, which could be an entry point for the next cycle.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> has been bouncing between the Oversold and Overbought Zones on macro chart &#x1f525;<a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a> has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10. I consider this is the top of this cycle. The next floor price… <a href="https://t.co/LiOIuZaX63">pic.twitter.com/LiOIuZaX63</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1866111567793934778?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Another technical analyst with a sizable X following Charting Guy projected that the DOGE&#8217;s choppy movement would end in the next 10 days and the next breakout would propel it to all-time highs.
&#8220;IMO, we are in the final moments to accumulate alts at decent prices; don't let the blood scare you, get greedy,&#8221; the trader said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> last cycle fractal update&#x203c;&#xFE0F; consolidation/chop should be over within 10 days or so if we continue to follow this next move should take us to ATH&#x1f4c8; imo, we are in the final moments to accumulate alts at decent prices, don't let the blood scare you, get greedy <a href="https://t.co/RLRAKO6sTl">https://t.co/RLRAKO6sTl</a> <a href="https://t.co/hkqDydCVGB">pic.twitter.com/hkqDydCVGB</a>
&mdash; Charting Guy (@ChartingGuy) <a href="https://twitter.com/ChartingGuy/status/1866519672637563092?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: This bullish remark contradicted signals from some well-known technical indicators of the cryptocurrency.
The Moving Average Convergence Divergence indicator flashed a &#8220;Sell&#8221; signal as of this writing, per <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">data </a>from TradingView.
The MACD compares two exponential moving averages of an asset&#8217;s price to show the trend&#8217;s momentum.
Similarly, the Momentum indicator, which compares the current price with the previous price from several periods ago, indicated a bearish sentiment.
In the last 24 hours, the balance of long-term DOGE holders declined by 0.88%, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock, suggesting that they were selling aggressively. 
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3901, down 3.38% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/24/12/42429033/xrp-surpasses-bitcoin-ethereum-with-286-monthly-gains-as-whale-deposits-hit-highest-levels-since-april">XRP Trumps Bitcoin And Ethereum With 286% Monthly Gains As Whale Deposits Hit Highest Levels Since April: Here&#8217;s What You Should Know</a></li>
</ul>

DOGE

Dogecoin's Cycle Peak Projected $8-10 By Top Trader Amid Pullback, But Here's Why You Should Be Careful

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon said on Tuesday that the investment banking giant might explore becoming a spot market maker for leading cryptocurrencies if more regulatory clarity is provided.
What happened: At the Reuters NEXT event, Solomon stated that the firm's ability to participate in spot trading for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was "extremely limited" from a regulatory point of view.
"You have to ask regulators because, at the moment, as a regulated banking institution, and I think you know this, we&#8217;re not allowed to own a cryptocurrency like Bitcoin as a principal," the CEO said.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Live: Reuters NEXT day one — Reuters journalists speak to global policymakers, business leaders a…" width="500" height="281" src="https://www.youtube.com/embed/VTf5_yiQ39Y?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Solomon acknowledged the broader sentiment that the regulatory framework vis-à-vis digital assets might evolve in the incoming Donald Trump administration but added that it's still "unclear" as to how it'd evolve.
However, he said that if the regulatory framework changes, the firm would "evaluate" making markets in Bitcoin and Ethereum.
&#8220;If, from a regulatory perspective, we were allowed to interact in these assets, we have a pretty big infrastructure."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Goldman Sachs began <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b">investing in spot exchange-traded funds </a>tied to Bitcoin and Ethereum this year, with the latest 13F filing revealing significant positions.&nbsp;
The bank disclosed $710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).&nbsp;
It also holds $25.16 million in Ethereum ETFs, split between Grayscale Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) and Fidelity Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>).
The firm was also betting <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42047066/goldman-sachs-to-spin-out-digital-assets-platform-amid-blockchain-push">big on its blockchain business</a>, planning to spin out its digital assets platform into an independent company within the next 12 to 18 months.
Price Action: Shares of Goldman Sachs were up 0.19% in after-hours trading after closing down 1.53% during Tuesday's regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow

Legendary trader Keith Gill, popularly known as Roaring Kitty, returned to social media on Thursday, sparking a wild spike in cryptocurrencies related to GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
What happened: GameStop (GME) blasted nearly 65% in the last 24 hours to set new all-time highs.&nbsp;
The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based coin lifted as high as $0.00025 when <a href="https://www.benzinga.com/general/social-media/24/12/42349100/gamestop-rockets-as-roar[%E2%80%A6]y-returns-to-x-what-does-his-tweet-signal-ahead-of-q3-earnin">Roaring Kitty's X post </a>first surfaced before swiftly pulling back to $0.00019, according to CoinMarketCap.
The token witnessed frantic trading activity with a 453% jump in volume.&nbsp;
Another coin based on BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), namely GameStop Coin (GME), soared 82%, accompanied by a 14% jump in trading volume.
A memecoin named after Roaring Kitty himself shot as much as 25% on the development.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. EDT)</td>
</tr>
<tr>
<td>GameStop Coin (GME)</td>
<td>+82.23%</td>
<td>$0.00007312</td>
</tr>
<tr>
<td>GameStop (GME)</td>
<td>+65%</td>
<td>$0.0001994</td>
</tr>
<tr>
<td>Roaring Kitty (ROAR)</td>
<td>+25.78%</td>
<td>$0.006612</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a>
The volatility was a result of a curiosity-inducing post by Roaring Kitty that showed a TIME magazine cover with a computer with a video screen. The video is paused at the 1:09 minute mark, for a total length of 4:20.
For the uninitiated, &#8220;420&#8221; is slang for smoking marijuana, especially around 4:20 PM in cannabis culture. It can also refer to <a href="https://www.benzinga.com/topic/420-0">cannabis-related celebrations</a> that take place on Apr. 20 every year
Time&#8217;s reference could suggest that investors have time to buy GameStop or another stock ahead of a key event.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/tXViICmVFG">pic.twitter.com/tXViICmVFG</a>
&mdash; Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1864742787197116887?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Note that these memecoins have no fundamental ties to GameStop or Roaring Kitty but are just playing on <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">the speculations of a short squeeze of the meme stock </a>and a possible repetition of the historic 2021 event by the legendary trader.
The GameStop short squeeze began in January 2021 and was one of the biggest financial events of that year.
Roaring Kitty&#8217;s social posts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807951/why-are-gamestop-and-kitty-themed-memecoins-trading-higher-today-read-on">drastically moved</a> the traditional and cryptocurrency markets this year.
Price Action: Shares of GameStop were up 3.04% in after-hours trading after closing up 5.92% during Thursday&#8217;s regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331507/happy-bitcoin-100k-day-heres-how-nayib-bukele-brian-armstrong-and-peter-schiff-reacted-to-the-historic-milestone">Happy Bitcoin $100K Day: Here&#8217;s How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone</a></li>
</ul>

$BNB

GameStop-Themed Memecoins Explode As Roaring Kitty Returns With Intriguing X Post: GME Coin Shoots Up Over 80%

Hong Kong-based gaming firm Boyaa Interactive has traded its Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) holdings for nearly $50 million in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This strategic move comes as Bitcoin is on the brink of reaching a significant $100,000 price milestone.
What Happened: As per a company statement released on Friday, Boyaa Interactive has converted its Ethereum holdings into Bitcoin. The gaming giant exchanged 14,200 Ethereum (ETH) for approximately&nbsp;515 Bitcoin between November 19-28,&nbsp;thereby increasing their Bitcoin holdings to 3,183 BTC, valued at $310 million at the time of the announcement.
According to&nbsp;the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1129/2024112900231.pdf">statement</a>, the value of Boyaa&#8217;s Bitcoin stash is nearly triple that&nbsp;of Japanese investment firm Metaplanet's&nbsp;Bitcoin holdings, which are around $111 million. Boyaa had initially acquired its Ethereum tokens&nbsp;for $39.45 million, at an&nbsp;average price of $2,777 per&nbsp;token.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
This considerable Bitcoin acquisition is in line with Boyaa&#8217;s wider strategy to invest in digital assets. In the previous year, the company had committed to investing&nbsp;up to $100 million in&nbsp;cryptocurrencies, including Bitcoin, Ethereum, and&nbsp;stablecoins.
Why It Matters: Boyaa Interactive is not the only company to bolster its Bitcoin reserves. Other major firms like Metaplanet and&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) have also been increasing their Bitcoin holdings. 
MicroStrategy recently announced the purchase of an additional 55,500 BTC, worth $5.4 billion, taking its total Bitcoin holdings to over $37 billion.
This trend indicates a growing interest and confidence in Bitcoin among major companies, despite the cryptocurrency&#8217;s notorious volatility. 
By diversifying their investments into digital assets, these firms are not only hedging against traditional market risks but also positioning themselves to benefit from potential future gains in the cryptocurrency market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256959/dogecoin-trading-volume-skyrockets-76-indicating-potential-major-price-upswing">Dogecoin Trading Volume Skyrockets 76%, Indicating Potential Major Price Upswing</a>

Tech

Gaming Company Bets Big On Bitcoin, Selling Ethereum For $50M Boost

Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) handsome rally on Wednesday infused life in its cheaper alternatives, causing them to outperform the marquee asset.
What happened: Ethereum Name Service soared over 45% to become the cryptocurrency market's biggest gainer in the last 24 hours.&nbsp;
The rally catapulted the token to price levels last seen in Jan. 2022, while its market capitalization hit $1 billion after nearly five months.&nbsp;
ENS saw a 520% jump in trading volumes, implying a sharp jump in buying pressure.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:55 p.m. EDT)</td>
</tr>
<tr>
<td>Ethereum Name Service (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENS</a>)</td>
<td>+45.14%</td>
<td>$32.89</td>
</tr>
<tr>
<td>Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>)</td>
<td>+12.21%</td>
<td>$31.89</td>
</tr>
</tbody>
</table>
</figure>
Ethereum Classic also racked up double-digit gains to hit a six-month high. Its trading volume more than doubled to $1.18 billion in the last 24 hours. 
The gains in these lesser-known coins follow<a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021"> Ethereum's sharp upswing</a>, which caused the second-largest cryptocurrency to spike nearly 8%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
ENS and ETC are fundamentally different from Ethereum, but many retail investors see them as cheaper alternatives.&nbsp;
In the past too, positive news around Ethereum, such as the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897831/why-are-ethereum-classic-and-ethereum-name-service-shooting-up-on-spot-eth-approval-day">spot exchange-traded funds (ETFs)</a>, resulted in steeper hikes for these cheaper plays.
Ethereum Classic was created as a hard fork of the original Ethereum chain back in 2016 over disagreements within the community following a hack. The new chain inherited the name Ethereum as we know it, while the original one functions as Ethereum Classic.
ENS, on the other hand, is a token associated with Ethereum Name Service, a decentralized naming system that converts complex, machine-readable names to ones easily understandable by humans.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a></li>
</ul>

$ENS

$ETC

Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?

Tim Draper, a prominent venture capitalist and cryptocurrency enthusiast, has made Bitcoin price predictions since 2014.
That year, Draper predicted Bitcoin to be $10,000 by the end of 2017. Despite skepticism, his forecast proved accurate, as Bitcoin hit $10,000 in November 2017 during its dramatic bull run.
In 2018, Draper forecast Bitcoin to reach $250,000 by the end of 2022. This bold prediction was not fully realized, though Bitcoin did reach an all-time high of approximately $69,000 in November 2021.
When Bitcoin failed to hit the target price in 2018, Draper extended the timeline to mid-2023. The futurist and investor based this target price on mass adoption, particularly by women and retail investors.
Draper said in an interview with Benzinga: "My first prediction was in 2014 when Bitcoin was at $180. I said that it would be $10,000 in three years. Sure enough, by the end of 2017, Bitcoin hit $10,000. Since then, I have not been as prescient. I thought Bitcoin would hit $250,000 by 2022! I think I am going to be three years off.&#8221; Draper added: &#8220;I think we can chalk those three years up to a weak government that regulated rather than encouraged new technologies. Our new government is more encouraging."
Since the U.S. presidential election in November, the crypto world has been celebrating with a decidedly more bullish outlook. Though many tokens have seen significant gains, including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Bitcoin has taken center stage, reaching a record high of $99,000 on Nov. 21, the second all-time high of the month.
Benzinga asked Draper what his prediction was for Bitcoin with the end of 2024 rapidly approaching and he responded: "This is just the beginning! If you are asking about price prediction, I would say about Bitcoin will reach about $120,000 by end of year."
Benzinga asked Draper what drives his future forecasts for Bitcoin, he pointed to the superiority of the cryptocurrency over traditional fiat and long-term trends in usage.
"It is a long-term trend. Bitcoin is just better technology than using banks and governments as the trusted third party. It is transparent, global, open, keeps perfect records, etcetera. It will make the world wealthier. When retailers (for currency) and governments (for taxes) realize that Bitcoin will save them money on each transaction, then there will be a great incentive for everyone to use Bitcoin."
When asked for his prognostication for 2025, Draper said he is holding out for the $250,000 level and cited the proposed U.S. Bitcoin reserve as a contributing factor.
"Assuming a standard supply and demand curve, if there is a big buyer like that, the price will continue to rise. I think 2025 is the year Bitcoin will finally hit my mark of $250,000," Draper noted.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42165734/bitcoin-etfs-registered-record-312-billion-net-inflows-last-week">Bitcoin ETFs Registered Record $3.12 Billion Net Inflows Last Week</a>
<h1 class="wp-block-heading">MicroStrategy Leads the Bitcoin Charge</h1>
Michael Saylor, co-founder of MicroStrategy, <a href="https://x.com/saylor/status/1861033309934862601">tweeted today</a><a href="https://x.com/saylor/status/1861033309934862601" target="_blank" rel="noopener"> </a>that the company acquired $5.4 billion in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the single biggest purchase of the world's leading decentralized digital currency.
In the tweet, Saylor stated, "MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR"
This is after the news that the company is making $500 million a day with its Bitcoin holdings, which Saylor said have appreciated by $5.4 billion over the past two weeks. Saylor predicted Bitcoin could reach $13 million by 2045, which would elevate its market cap to $250 trillion. 
<h1 class="wp-block-heading">Optimism Among Web3 Leaders</h1>
Nathan Berkley, CEO of Muhdo Health Limited, a health technology company specializing in DNA and epigenetic testing which incorporates cryptocurrency into its operations, has a bullish outlook on Bitcoin and independently concurs with Draper's forecast.
"I think we could see Bitcoin hit $120,000. With U.S. sentiment being positive to this market now, and understanding Web3 can have real impact, it's a great time to be in the space," Berkley noted.
Lisa Loud, executive director of Secret Network Foundation, a blockchain platform designed to enable privacy-preserving decentralized applications, said: "The Bitcoin of today is not the Bitcoin of 2020: we have a broader finance interest, politics, and uncertain regulatory changes. A conservative estimate would say it will end in the range of $92,000-115,000, but if we get a large opt-in from mainstream, we could blow this estimate out of the water."
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173367/shiba-inu-burn-rate-soars-487-in-a-day-what-is-going-on"> • Shiba Inu Burn Rate Soars 487% In A Day: What Is Going On?</a>
Photo: Shutterstock

Exclusives

$SOL

$USDT

$XRP

EXCLUSIVE: Tim Draper Predicts Bitcoin To Reach $120K By End Of 2024, $250K In 2025

President-elect Donald Trump was discussing potential cabinet appointments with Brian Armstrong, the CEO of cryptocurrency exchange platform Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), in a closed-door meeting Monday
What Happened: The conversation would focus on cabinet and senior post appointments as Trump shapes his second administration, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx">reported</a>, citing sources familiar with the matter. 
Coinbase didn&#8217;t immediately return Benzinga&#8217;s request for a comment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Digs Deeper Into Cryptocurrency? B</a><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">akkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
Speculations pointed to Armstrong&#8217;s presence in <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump's cryptocurrency presidential advisory council</a>, which was mentioned as part of his election promise earlier this year.
The meeting comes at a time when the cryptocurrency industry increasingly looks forward to a supportive federal government under Trump, who pledged various <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">pro-cryptocurrency initiatives</a> during the election campaign.
Why It Matters: Armstrong welcomed what he called &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41450334/there-has-never-been-a-more-pro-crypto-congress-than-the-next-one-heres-why" target="_blank" rel="noreferrer noopener">America&#8217;s most pro-crypto Congress ever</a>,&#8221; noting that over 219 pro-cryptocurrency candidates were elected to the House and Senate.
Coinbase&#8217;s top executive has been vocal about his vision for reducing government size and enhancing economic freedom, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">praising the idea</a> of a Department of Government Efficiency, or DOGE, under Elon Musk and Vivek Ramaswamy.
There have also been speculations about Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">potentially serving as a cryptocurrency policy advisor</a> in the Trump administration.
Price Action: Shares of Coinbase were down 0.74% in after-hours trading after closing up 6.40% on Monday, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>

$ADA

COIN

Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments

Global investment banks revealed significant positions held in cryptocurrency-related exchange-traded funds (ETFs) and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stock MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), according to their latest 13F filings with the SEC.
JPMorgan Chase
JPMorgan Chase &amp; Co., the world&#8217;s largest bank by market capitalization, made sizable investments in Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs for the quarter ending Sept. 30.
The bank purchased 387 shares, worth $13,982, of iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) after offloading them all in the last quarter.
JPMorgan also reallocated to Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), bagging 213 shares worth $11,877. Overall, the banking giant's Bitcoin ETF exposure reached nearly $65,000.
JPMorgan tapped into the Ethereum ETFs for the first time, with sizable investments in Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>) and its miniature version, Grayscale Ethereum Mini Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>). Together, its stake in the two funds amounted to roughly $30,700.
The bid to increase cryptocurrency exposure caused JPMorgan to boost its MicroStrategy portfolio by 12.5% to 660,693 at the end of Q3, worth $111.39 million.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Goldman Sachs
Another Wall Street giant, Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), reported its 13F filing last week.
The bank <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42010782/goldman-sachs-expands-bitcoin-etf-holdings-to-710-million">disclosed </a>$710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in IBIT.&nbsp;
These investments solidified Goldman&#8217;s position as the second-largest holder of IBIT, now the world's biggest Bitcoin investment fund, with assets worth $42.89 billion as of this writing.&nbsp;
Goldman Sachs holds $25.16 million in Ethereum ETFs, split between Grayscale&#8217;s Mini Trust and Fidelity&#8217;s Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>).
Interestingly, the banking juggernaut liquidated around 534,894 shares of MicroStrategy in Q3, reducing its stake to $140.44 million.
Morgan Stanley
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) downsized its Bitcoin ETF portfolio to $183.39 million, from $203 million in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40410418/goldman-sachs-makes-blockbuster-debut-adds-over-400m-in-bitcoin-etf-position-in-q2-as-morg">last quarter.</a> 
The outflows were primarily driven by the selling of 449,802 IBIT shares.
Additionally, Morgan Stanley invested in Ethereum ETFs, primarily through a stake in iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>).
Meanwhile, its MicroStrategy position jumped 22.6% to 9,595,008 shares worth $1.61 billion. 
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
</ul>

Wall Street's Banking Giants Load Up On Bitcoin, Ethereum ETFs: Here's What JPMorgan, Goldman Sachs And Morgan Stanley Hold

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) rival meme coin Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>) has experienced a significant surge in value. This comes on the heels of an announcement by Coinbase, a leading US crypto exchange, about the potential <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573802/forget-dogecoin-and-shiba-inu-this-meme-coin-has-surged-nearly-70-in-just-24-hours">inclusion of FLOKI in its future listings.</a>
What Happened: Coinbase has disclosed its consideration of adding FLOKI to its listing roadmap. This roadmap is a tool used by the exchange for maintaining transparency and preventing insider trading on coins prior to their listing.
Following this announcement, FLOKI&#8217;s value experienced a sharp increase, rising from $0.000217 last week to a peak of $0.000280 within a matter of hours. At the time of writing, FLOKI is trading at $0.000239.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Assets added to the roadmap today: FLOKI (FLOKI)<a href="https://t.co/rRB9d3hSr2">https://t.co/rRB9d3hSr2</a>
&mdash; Coinbase Assets &#x1f6e1;&#xFE0F; (@CoinbaseAssets) <a href="https://twitter.com/CoinbaseAssets/status/1857513967444230566?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
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FLOKI, which was launched in 2021, is a utility token for the Floki ecosystem. Inspired by Elon Musk&#8216;s pet Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), the Floki ecosystem provides a range of decentralized finance (DeFi) services on the Ethereum (CRPYTO: ETH) and Base blockchains.
Also Read: <a href="https://www.benzinga.com/24/11/42026892/heres-how-bitcoin-whale-nets-179-million-from-a-120-investment">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>
Why It Matters: The potential listing of FLOKI on Coinbase is a significant development for the memecoin. 
Earlier last week, crypto analyst Bluntz predicted a substantial rise for FLOKI, forecasting that it could potentially surpass the $0.0005 level in the long term, which is more than double its current value. 
The recent surge in FLOKI&#8217;s value following Coinbase&#8217;s announcement seems to validate this prediction. 
The potential listing on a major exchange like Coinbase could provide FLOKI with increased visibility and credibility in the crypto market, potentially driving further increases in its value.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40669092/elon-musk-cleared-of-dogecoin-market-manipulation-charges">Elon Musk Cleared Of Dogecoin Market Manipulation Charges</a>
Image: Shutterstock

$FLOKI

$SHIB

Forget Dogecoin And Shiba Inu — This Meme Coin Skyrockets After Coinbase Hints At Possible Listing

Cryptocurrency enthusiasts are closely watching as both Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) near critical buying levels, according to renowned analyst Michael van de Poppe.
What Happened: Van de Poppe has identified that Bitcoin and Ethereum are approaching levels where purchasing on dips could prove beneficial.
Van de Poppe stressed the significance of &#8220;dip buying&#8221; for Bitcoin, which is currently trading at $89,250. He pointed out that Bitcoin is nearing its first major point of interest for traders.
Meanwhile, Ethereum, priced at $3,040, is also nearing an optimal entry point.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dip buying, that&#39;s what we want with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Getting close to the first point of interest, and, in the meantime, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is getting close towards an optimal entry as well. <a href="https://t.co/H5jEp4QHZA">pic.twitter.com/H5jEp4QHZA</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857340263305281936?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
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"Dip buying, that's what we want with Bitcoin. Getting close to the first point of interest, and, in the meantime, ETH is getting close towards an optimal entry as well."
"The general plan for the upcoming period is to buy the dip."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The general plan for the upcoming period is to: &#8211; Buy the Dip. It&#39;s as easy as it is. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are likely breaking out left and right in the upcoming weeks and you&#39;d want to maximize that through buying those 20-50% dips.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857128111865045060?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41987257/elon-musks-hedgehog-meme-coin-shrub-outpaces-dogecoin-shiba-inu-gains-surges-3000-in-a-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Hedgehog Meme Coin &#8216;SHRUB&#8217; Outpaces Dogecoin, Shiba Inu Gains, Surges 3,000% In A Week</a>
The analyst also highlighted opportunities in other altcoins, advising traders to watch for entry points in these digital assets in the coming weeks.
Van de Poppe&#8217;s strategy for the near future involves buying dips, with altcoins expected to see significant breakouts.
He recommended maximizing potential gains by purchasing altcoins during 20-50% dips, allowing traders to capitalize on anticipated market movements in the cryptocurrency sector.
Why It Matters: The cryptocurrency market has been experiencing fluctuations, with recent events adding complexity to the trading landscape. Earlier this week, <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41998395/bitcoin-ethereum-dogecoin-take-a-u-turn-as-jerome-powells-statements-dampen-rate-cut-expectations-analytics-firm-explains-why-btc-bull-market-has-not-yet-ended">Federal Reserve Chair Jerome Powell&#8217;s remarks</a> dampened hopes for rate cuts, causing Bitcoin to dip below $88,000 after initially surpassing $91,000. Ethereum also saw a decline, dropping from $3,240 to $3,040.
Despite these setbacks, optimism remains. On November 15, Ark Invest's Cathie Wood projected Bitcoin&#8217;s price <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42019038/bitcoin-to-hit-up-to-1-5-million-by-2030-says-cathie-wood">could reach up to $1.5 million</a> by 2030, citing regulatory relief and growing institutional interest.
Additionally, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41930918/trumps-high-inflation-regime-will-weaken-the-dollar-and-push-bitcoin-to-1m-says-arthur-hayes-get-long-and-stay-long">Arthur Hayes</a> suggested that policies under President-elect Donald Trump might weaken the dollar, boosting Bitcoin&#8217;s value.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">Elon Musk&#8217;s xAI Seeks $6B At $50B Valuation To Acquire 100K Nvidia Chips For Memphis Data Center</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can 'Buy The Dip'

Raoul Pal, CEO of Real Vision, has suggested that Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) could benefit more than Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41883348/donald-trump-cant-fire-gary-gensler-but-pro-crypto-policies-means-industry-is-on-the-verge-of-a-golden-era">under Donald Trump's administration</a>.
Raoul Pal is set to discuss these insights and the future of Ethereum and Bitcoin at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
What Happened: Addressing his followers on X about the recent <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41896277/bitcoin-nears-90000-how-high-can-the-apex-crypto-go">surge in the crypto market</a>, Pal noted that while Bitcoin has largely outpaced Ethereum over the past several months, Trump's win could shift the momentum in Ethereum's favor.
This view arrives as Bitcoin reaches record highs, while Ethereum—though <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40255976/is-ethereum-going-to-keep-underperforming-bitcoin-heres-what-technical-analysis-says">underperforming against BTC</a> for most of 2023—has shown signs of narrowing the gap in November, rising 7.06% against Bitcoin.
Pal, who <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41297376/bitcoin-will-hit-250k-raoul-pal-says-why-the-gurus-top-5-crypto-predictions-matter-if-your">predicted Bitcoin to hit $250,000</a>, outlined two main reasons why <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41823388/the-trump-effect-a-deep-dive-into-how-the-crypto-landscape-will-change-in-2025-and-beyond">Trump's presidency</a> might provide Ethereum with a boost.
Firstly, he believes that Trump's leadership may create <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41883348/donald-trump-cant-fire-gary-gensler-but-pro-crypto-policies-means-industry-is-on-the-verge-of-a-golden-era">regulatory conditions favorable</a> to decentralized finance (DeFi), potentially enabling DeFi utility tokens to offer rewards or yields tied to their specific blockchain networks.
A clearer regulatory framework, Pal suggests, could drive expansion in Ethereum's DeFi ecosystem, enhancing opportunities for staking and other yield-generating activities on the Ethereum network. 
As the largest host of DeFi applications, Ethereum stands to gain significantly if these innovations are allowed to flourish.
This regulatory shift could increase Ethereum's network value, making it even more attractive to investors and users as they can access more financial benefits directly within the ecosystem. 
<a href="https://x.com/RaoulGMI/status/1854677961477165347">According</a> to Pal, such developments may ultimately position Ethereum to outperform Bitcoin in terms of growth.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41882591/peanut-the-squirrels-coin-pnut-catapults-343-higher-to-420-million-valuation-the-squirrel-who-saved-the-election-quips-venture-capitalist">Peanut The Squirrel&#8217;s Coin PNUT Catapults 343% Higher To $420 Million Valuation: &#8216;The Squirrel Who Saved The Election,&#8217; Quips Venture Capitalist</a>
The second factor Pal highlighted is Ethereum's established position as a widely trusted blockchain within traditional finance (TradFi). 
With <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">crypto-friendly regulations</a> likely on the horizon under Trump's administration, Pal anticipates that institutions exploring blockchain solutions for their businesses will favor Ethereum, given its stability and credibility.
He likened Ethereum's role to that of Microsoft in the early days of web technology, stating that Ethereum, as a familiar and reliable platform, will likely serve as the primary blockchain choice for large-scale financial applications.
However, Pal also acknowledged rising competition from other blockchains like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Sui (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>), which offer distinct advantages. 
Solana, with its faster transaction speeds and lower costs, has gained traction as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40470226/solana-etf-approval-in-2024-has-only-a-6-chance-a-snowballs-chance-in-hell-etf-analyst-say#:~:text=Solana%20ETF%20Approval%20In%202024,%2C'%20ETF%20Analyst%20Says%20%2D%20Benzinga">potential rival to Ethereum</a>.
Additionally, Sui, in its initial stages of rapid growth, is attracting attention from users seeking lower fees. 
While Ethereum may see substantial growth, Pal suggested that newer platforms like Solana and Sui could provide significant competition, particularly for users focused on efficiency and cost-effectiveness.
What&#8217;s Next: As Ethereum positions itself for potential growth under Trump's administration, Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will offer further insights into regulatory impacts on the crypto space, as experts gather to discuss the evolving landscape for digital assets.
Read Next: 
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</ul>
Image: Shutterstock

$SUI

Raoul Pal Predicted Bitcoin To Hit $250,000—But He Thinks Ethereum Could Outperform Under Donald Trump's Administration

The ongoing cryptocurrency bull run resulted in a dramatic rise in fortunes, with some coins seeing their year-to-date returns go through the roof.
What happened: Meme coins have taken the lead, with Popcat and First Neiro on Ethereum netting eye-popping returns to their holders in 2024.
NEIRO, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&#8211;based meme token, surged over 83% over the week, taking its YTD gains to 55,438%.&nbsp;
For the curious, NEIRO has been inspired by the sister of Kabosu, the inspiration behind Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and the accompanying army of dog-themed cryptocurrencies.
Powered by the rally, the coin has ballooned to a market capitalization of over $1 billion.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>7-Day Gains +/-</td>
<td>YTD Gains +/-</td>
<td>Price (Recorded at 10:50 p.m. ET)</td>
</tr>
<tr>
<td>First Neiro on Ethereum (NEIRO)</td>
<td>+83.77%</td>
<td>+55438.12%</td>
<td>$0.002368</td>
</tr>
<tr>
<td>Popcat (POPCAT)</td>
<td>+30.84%</td>
<td>+20120.26%</td>
<td>$1.64</td>
</tr>
</tbody>
</table>
</figure>
Cat-themed cryptocurrency, Popcat, saw its YTD gains rocket past 20,000% after a 30% spike over the past week.
The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&#8211;based coin stood at a market capitalization of $1.62 billion. Both POPCAT and NEIRO were among the top 10 biggest meme coins by market value as of this writing.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Why It Matters: The blistering rally has also seen Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), the king of meme coins, more than double in value over the week.&nbsp;Its YTD gains have leapfrogged to 336%.
The coin flipped XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) to become the sixth-largest cryptocurrency by market capitalization.&nbsp;
The rise had everything to do with expectations of an Elon Musk-headed <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co">Department of Government Efficiency </a>(DOGE) under President-elect Donald Trump.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hovered below $90,000 in what has been a record-shattering rally pinned on Donald Trump&#8217;s presidential victory. The leading cryptocurrency was up over 110% since the beginning of 2024.
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873479/after-anthony-scaramucci-ftx-sues-binance-and-ex-ceo-changpeng-cz-zhao-to-reclaim-1-8b-amid-bankruptcy-tussle">After Anthony Scaramucci, FTX Sues Binance And Ex-CEO Changpeng &#8216;CZ&#8217; Zhao To Reclaim $1.8B Amid Bankruptcy Tussle</a></li>
</ul>

Dogecoin, Bitcoin Returns Are Dazzling But First Neiro On Ethereum And Popcat Have Run Up 55000% and 20000% So Far In 2024

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) could be on the cusp of a significant rally, according to a well-known crypto analyst, which would see the cryptocurrency skyrocket by nearly 70% to reclaim its all-time high.
What Happened: Guy Turner, the host of Coin Bureau, shared insights with his 2.53 million YouTube followers, suggesting that Ethereum (ETH) might reach its all-time high in 2025, following the anticipated Pectra upgrade.
The Pectra upgrade, expected in 2025, is a two-part hard fork designed to improve Ethereum&#8217;s speed, scalability, and usability. Binance highlights that these changes will enable gas fees to be paid with any digital asset, offer larger rewards to bigger validators, and enhance the Ethereum Virtual Machine (EVM).
Turner believes these improvements could be the catalyst Ethereum needs for a breakout, potentially attracting institutional investors. He stated, &#8220;ETH has been desperate for a breakout for quite some time. This could be the spark it needs.&#8221;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41847581/el-salvadors-bitcoin-bet-is-paying-off-heres-how-much-the-country-is-up?itm_source=parsely-api"> El Salvador&#8217;s Bitcoin Bet Is Paying Off—Here&#8217;s How Much The Country Is Up</a>
Currently, Ethereum trades at $2,902, marking a 2% increase for the day. The cryptocurrency&#8217;s all-time high was approximately $4,900 in November 2021, and a return to that level would mean a 68% increase from its present value.
Why It Matters: The potential surge in Ethereum&#8217;s value aligns with broader market predictions. A recent note from<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered"> Standard Chartered</a> forecasts a fourfold increase in the digital assets market cap by the end of 2025, driven by anticipated regulatory shifts and mainstream adoption. This aligns with Turner&#8217;s prediction, suggesting a favorable environment for Ethereum&#8217;s growth.
Additionally,<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41706152/ethereum-could-hit-6k-predicts-top-analyst-but-heres-why-its-long-term-future-remains-unde"> Ali Martinez</a>, another prominent analyst, has expressed bullish sentiments on Ethereum, citing an attractive risk-to-reward ratio. Martinez&#8217;s strategy involves setting a stop-loss below $1,880 and targeting a take-profit price of $6,000, further indicating potential upward momentum for Ethereum.
These developments come amid discussions about the potential impact of the<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41807557/bitcoin-as-americas-gold-trumps-bitcoin-act-could-reshape-us-reserves-says-coinshares"> Bitcoin Act</a>, which could reshape the U.S. economy by designating Bitcoin as a strategic reserve asset.
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Price Action: Ethereum is currently trading at $2,975, up by more than 2.3% over the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Ethereum Skyrocket 70% To Reclaim Its Peak Once This Happens, Says Crypto Expert

Speculation has arisen regarding Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), potentially serving as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41785767/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">cryptocurrency policy advisor</a> in the administration of president Donald Trump.
What Happened: This speculation comes on the heels of recent posts and statements from various figures within the crypto community, hinting at a possible alignment of interests between Hoskinson and the Trump campaign, particularly with Trump&#8217;s recent ventures into the cryptocurrency space.
The buzz started when Rick McCracken, a notable figure in the Cardano community, expressed <a href="https://x.com/TamaraHaasen/status/1854865475194294383">hope</a> on X (formerly Twitter) that the Trump-Vance administration might consider Hoskinson for such a role.
This suggestion was not made in a vacuum; Hoskinson has previously <a href="https://x.com/RobertKennedyJr/status/1780726997020508562">endorsed</a> Robert F. Kennedy Jr., who has since joined Trump&#8217;s team, indicating a potential pathway for dialogue or collaboration.
Hoskinson, known for his vocal criticism of the current administration&#8217;s crypto policies, has often highlighted the lack of regulatory clarity and what he perceives as an adversarial stance against the crypto industry. 
His endorsement of RFK Jr. was seen as a move towards supporting candidates who promise a change in policy direction, focusing on healing national divisions and promoting economic freedom through decentralized technologies.
The crypto community&#8217;s interest in Hoskinson&#8217;s potential advisory role stems from his deep involvement in blockchain technology and his advocacy for a regulatory environment that fosters innovation rather than stifling it. 
His insights could be pivotal, especially given Trump&#8217;s family&#8217;s recent forays into decentralized finance (DeFi) projects, signaling a more crypto-friendly stance from the former president.
However, the path to such an appointment isn&#8217;t without hurdles.
Hoskinson&#8217;s criticisms of both major political parties for their handling of crypto regulations suggest that any advisory role would come with the expectation of pushing for significant policy reforms.
This could mean navigating the complex political landscape where crypto regulations are concerned, balancing between innovation and security.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered">Bitcoin To $200,000, Ethereum To $10,000 And Crypto Market Cap To 4X By End Of 2025, Says Standard Chartered</a>
The discussion emerges as Cardano&#8217;s native token ADA has reclaimed its position as the ninth-largest cryptocurrency overall, and the seventh-largest when excluding stablecoins like Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>). 
The token has shown significant momentum, up 13% over the past 24 hours and 30% over the past 30 days, breaking above key technical resistance levels that have been closely watched by market analysts, <a href="https://x.com/cryptorecruitr/status/1854902966550942065">according</a> to a crypto analyst.
Technical analysis of ADA&#8217;s current movement shows parallels to previous market cycles, particularly in relation to Bitcoin halving events. 
Market data indicates ADA is currently trading approximately 201 days after the latest Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving, comparable to a similar breakout pattern observed in the previous cycle at 193 days post-halving.
The asset has demonstrated a notable separation from its 20-day moving average, currently showing a 14% divergence. 
Key resistance levels are identified at $0.47, aligned with the 50-week moving average, while analysts have outlined potential targets extending to $0.60-0.70 based on current pattern formations.
The timing of these speculations couldn&#8217;t be more intriguing, especially with the upcoming Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
This event could serve as a platform for further discussions or announcements regarding the intersection of cryptocurrency and U.S. policy, potentially shedding light on how figures like Hoskinson might influence or be <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41823388/the-trump-effect-a-deep-dive-into-how-the-crypto-landscape-will-change-in-2025-and-beyond">influenced by political decisions.</a>
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Image: Shutterstock

Cardano Up 13% As Speculation Around Charles Hoskinson As Trump Crypto Policy Advisor Bubbles

Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), a world leader in digital payments, today announced a partnership with Coinbase, a trusted place to buy, sell, and manage crypto. This partnership adds convenience and new services for Coinbase customers across the US and EU, including real-time1, reliable, and secure money movement. By integrating with the Visa Direct network, Coinbase customers will be able to deposit funds into their Coinbase account in real-time1 using eligible Visa debit cards.

Coinbase Customers Will Be Able To Deposit Funds Into Their Coinbase Account In Real-time Using Eligible Visa Debit Cards

<a href="https://www.benzinga.com/topic/grayscale">Grayscale Investments</a> announced on Tuesday that its newly launched Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded products (ETPs) have attracted significant investor interest, recording inflows exceeding $750 million since their respective launches in July 2024.
What Happened: The Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>) and Grayscale Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) are promoted as the world's lowest-fee ETPs in their categories, with annual expense ratios set at 0.15%.
"Crypto is still in the early stages of adoption, and the strong demand for BTC and ETH underscores investor interest in accessible, low-cost exposure to major digital assets," said John Hoffman, Grayscale's Managing Director and Head of Distribution and Partnerships. 
The low fees, he noted, are intended to bridge the gap between traditional finance and digital assets, a goal Grayscale has pursued with various crypto-related investment products.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41599395/bitcoin-demand-to-surge-as-china-implements-monetary-chemotherapy-arthur-hayes-predicts">Bitcoin Demand To Surge As China Implements &#8216;Monetary Chemotherapy,&#8217; Arthur Hayes Predicts</a>
Since launching three months ago, the Grayscale Bitcoin Mini Trust has grown to over $2 billion in assets under management, while the Ethereum Mini Trust has surpassed $1 billion. 
With their minimal expense ratios, both products offer investors a cost-effective way to gain exposure to bitcoin and ether.
Grayscale's aggressive pricing aims to set a new standard in the market for crypto-linked ETPs, an approach that has driven substantial inflows since inception.
The company&#8217;s success with these products echoes broader investor interest in digital assets, which is set to be explored further at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where leaders in the space will discuss trends, opportunities and challenges shaping the digital asset landscape.
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Image: Shutterstock

Grayscale's Bitcoin, Ethereum Funds See $750M Inflows In 3 Months

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General

World's Lowest Fee Bitcoin and Ether ETPs (Ticker: BTC, Ticker: ETH) Garner $750,000,000 Inflows in First Three Months of Trading

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Grayscale Investments® Announces Intention to Effect Reverse Share Splits for Grayscale® Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale® Ethereum Mini Trust ETF (Ticker: ETH)

Grayscale Investments® Announces Completion of Reverse Share Splits for Grayscale® Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale® Ethereum Mini Trust ETF (Ticker: ETH)

Common units of fractional undivided beneficial interest

화요일(10일)에 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)CEO인 데이비드 솔로몬은 더 많은 규제 명확성이 제공된다면 골드만삭스가 주요 암호화폐의 현물 시장을 만드는 방법을 모색할 수 있다고 말했다.
무슨 일 있었나: 데이비드 솔로몬은 &#8216;로이터 NEXT 행사&#8217;에서 규제 관점에서 볼 때 비트코인(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)과 이더리움(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)의 현물 거래에 참여하는 골드만삭스의 능력이 "매우 제한적"이라고 했다.
"규제 당국에 물어봐야 한다. 왜냐하면 현재 규제 대상 은행 기관으로서 우리는 비트코인과 같은 암호화폐를 주체로 소유할 수 없기 때문이다.&#8221;
솔로몬은 도널드 트럼프 행정부 출범 이후 디지털 자산에 대한 규제 체계가 발전할 것이라는 광범위한 정서를 인정하면서도, 그 발전 방향이 아직 "불분명"하다고 덧붙였다. 그러나 규제 체계가 바뀌면 비트코인과 이더리움 시장 진입을 "평가"할 것이라고 말했다.
"규제 관점에서 볼 때 우리가 암호화폐 자산과 상호 작용할 수만 있다면, 우리는 꽤 큰 인프라를 가지고 있다."
이 기사도 읽어보세요: <a href="https://kr.benzinga.com/news/usa/stocks/%EA%B2%8C%EB%A6%AC-%EB%B8%94%EB%9E%99-gm%EC%9D%80-%EB%A1%9C%EB%B3%B4%ED%83%9D%EC%8B%9C-%ED%8F%AC%EA%B8%B0%EB%A1%9C-%EC%97%B0-10%EC%96%B5-%EB%8B%AC%EB%9F%AC-%EC%A0%88%EC%95%BD-%ED%85%8C%EC%8A%AC/" target="_blank" rel="noopener">게리 블랙 &#8220;GM은 로보택시 포기로 연 10억 달러 절약, 테슬라 FSD 라이선스의 길 열릴 것&#8221;</a>
왜 중요한가: 골드만삭스는 올해부터 비트코인과 이더리움과 연계된 <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b" target="_blank" rel="noopener">현물 교환 거래 펀드</a>에 투자하기 시작했으며, 최근 13F 서류를 통해 상당한 포지션이 공개되었다.
골드만삭스는 여러 비트코인 ETF에 7억 1천만 달러를 투자했으며, iShares Bitcoin Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>)에 1,270만 주를 4억 6,100만 달러에 매입했다고 밝혔다.
또한 Grayscale Ethereum Mini Trust(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>)와 Fidelity Ethereum Fund(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>)에 나누어 2,516만 달러를 이더리움 ETF에 보유하고 있다.
그리고 골드만삭스는 <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42047066/goldman-sachs-to-spin-out-digital-assets-platform-amid-blockchain-push" target="_blank" rel="noopener">블록체인 사업에 큰 투자를 하고</a> 있으며, 향후 12~18개월 내에 디지털 자산 플랫폼을 독립적인 회사로 분사할 계획다.
골드만삭스 주가 움직임: <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noopener">Benzinga Pro 데이터에 따르면</a>, 골드만삭스의 주가는 화요일 정규장에서 1.53% 하락한 후 시간외 거래에서 0.19% 상승했다.
다른 트레이더들보다 30분 일찍 시장 움직임에 대한 독점 뉴스를 받아보세요.
Benzinga Pro의 독점 뉴스를 통해 수백만 명의 다른 트레이더보다 더 빠르게 유용한 투자 뉴스를 확인할 수 있습니다. <a href="https://www.benzinga.com/pro/register?t=be2bewe5mibe3bz3&amp;utm_source=bz-kor" target="_blank" rel="noopener">여기를 클릭</a>하여 14일 무료 체험을 시작하세요.

최근 증권거래위원회(SEC)에 제출된 13F 공시에 따르면, 글로벌 투자은행들이 암호화폐 관련 상장지수펀드(ETF)와 비트코인 대리 종목인 마이크로스트레티지에 대해 상당한 지분을 보유하고 있다는 사실이 밝혀졌다.
<h3>JP모건 체이스</h3>
시가총액 기준 세계 최대 은행인 JP모건 체이스는 9월 30일 마감 분기에 비트코인과 이더리움 ETF에 상당한 투자를 했다.
JP모건은 iShares Bitcoin Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) 387주를 13,982달러에 매입했는데, 이는 지난 분기에 모두 매도한 후 다시 매입한 것이다. 또한 Fidelity Wise Origin Bitcoin Fund(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>)에도 자금을 재할당해 213주를 11,877달러에 매입했다.
전반적으로 JP모건의 비트코인 ETF 노출액은 거의 65,000달러에 달했다.
그리고 JP모건은 처음으로 이더리움 ETF에 진입하면서 Grayscale Ethereum Trust ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>)와 그 미니 버전인 Grayscale Ethereum Mini Trust ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>)에 상당한 투자를 했다. 두 펀드에 대한 총 투자액은 30,700달러였다.
암호화폐 노출을 늘리려는 시도 속에서 JP모건은 마이크로스트레티지 포트폴리오를 12.5% 증가시켜 660,693주로 늘렸고, 이는 1억 1,139만 달러에 달한다.
<h3>골드만삭스</h3>
또 다른 월가 거대 은행인 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)는 지난주 13F 서류를 제출했다.
골드만삭스는 여러 비트코인 ETF에 7억 1천만 달러를 투자했으며 IBIT 펀드 1,270만 주를 보유하고 있고 이는 <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40410418/goldman-sachs-makes-blockbuster-debut-adds-over-400m-in-bitcoin-etf-position-in-q2-as-morg" target="_blank" rel="noopener">4억 6,100만 달러에 해당</a>한다고 공개했다.
이러한 투자로 골드만삭스는 IBIT 펀드의 제2대 주주가 되었으며, 현재 세계 최대 비트코인 투자펀드인 IBIT의 자산은 428억 9,000만 달러에 달한다.
한편, 골드만삭스는 2,516만 달러 규모의 이더리움 ETF를 보유하고 있으며, 이는 Grayscale의 Mini Trust(ETH)와 Fidelity의 이더리움 펀드(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>)에 분산되어 있다.
흥미롭게도, 골드만삭스는 3분기에 약 534,894주의 마이크로스트레티지 주식을 매각하여 보유 비중을 1억 4,044만 달러로 줄였다.
<h3>모건 스탠리</h3>
모건스탠리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)는 지난 분기에 비트코인 ETF 포트폴리오 규모를 2억 3,300만 달러에서 1억 8,339만 달러로 줄였다.
이러한 자금 유출은 주식 449,802주의 IBIT 펀드 주식을 매도한 데 따른 것이었다.
또한 모건스탠리는 이더리움 ETF에 투자했는데 주로 iShares Ethereum Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>)를 통한 투자였다.
한편, 마이크로스트레티지 보유량은 22.6% 증가한 9,595,008주로 16억 1,100만 달러에 달했다.
사진 출처: Avi Rozen on Shutterstock
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Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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