💰 Cardano – Kraken to pair up? Here’s what’s going on

⚡️ Like Base, Like Kraken
As of last week, Kraken had not yet decided on the blockchain firm it intends to collaborate with on the project. However, it had options including Polygon [MATIC], Matter Labs, and the Nil Foundation. So, it remains uncertain its Cardano will make the cut.

🌈 Cardano’s odds are bleak and bright
Although the TVL’s increasing momentum had flatlined, the quick rise implied that many market players trusted the chain enough to deposit liquidity into it. Now, here’s where it gets interesting for Cardano as regards its chances of clicking the project. That is, if Kraken decides to consider it.

🔹 Blackrock’s spot Ethereum ETF application goes to the SEC

✅ Blackrock’s big Ethereum plan
Interestingly, the predicted development has not had a major impact on the price of Ethereum. According to CMC, at press time, ETH was trading at $2069.45 with a market cap of over $248 billion. The past hour chart showed gains by just over 1 percent, while the 7-day chart registered a massive uptrend of over 8 percent.

🆕 Blackrock’s influence on the crypto market
Notably, Blackrock has been credited for reviving the interest in the spot ETF market. This year, the investment management giant was the first to file for a spot Bitcoin ETF. The move was quickly replicated with several other notable contenders in the ETF market.

💲 Bittrex Global to wind down operations after the collapse of its US arm

It is with great regret that we inform you that Bittrex Global has decided to wind down its operations.

💬 SEC isn’t slowing down
Bittrex is among the increasingly long list of virtual asset platforms hit by regulatory action in the U.S. this year. The latest exchange to suffer the SEC’s salvo is Kraken.

🌐 The judge ruled that the sale of XRP tokens on crypto exchanges and through programmatic sales did not constitute a sale of securities. But the institutional sale of XRP tokens indeed violated federal securities laws.

🔥 KyberSwap DEX shaken by alleged $47 mln exploit

💵 Users urged to withdraw funds after security incident
KyberSwap swiftly acknowledged the security incident through a post on X, urging all users to promptly withdraw their funds.

Dear Kyberswap Developers, Employees, DAO members, and LPs, Negotiations will start in a few hours when I am fully rested. Thank you.

📌 Upon scrutinizing the situation, 0xngmi, a pseudonymous employee at crypto data site DefiLlama, clarified that it wasn’t an approval issue with Kyber aggregator. Instead, the hacker seemed to be systematically draining the Kyber liquidity provider pools.

🔍 The repercussions of this exploit were immediate, with the price of Kyber Network Crystal (KNC) experiencing a sharp decline. It was trading at $0.731 at press time, according to TradingView.

💻 Of Blur, Lido, and the ripple effects of Blast

👍 It’s all a BLUR
Heading the project is PacmanBlur, co-founder of the popular NFT marketplace Blur [BLUR]. Blast’s appeal is further amplified by the backing it has received from crypto investment firm Paradigm.

🔗 A paradigm shift
In his tweet, Robinson said that Paradigm disagreed with the decision to launch the bridge before the L2 and the three-month withdrawal restriction. They believed that these actions set a negative precedent for Blast.

⚡️ Impact on BLUR and LDO
Despite the interest shown by whales, the price of BLUR fell materially. At press time, it was trading at $0.528972 and had fallen by 13.14% in the last 24 hours. Only time will tell whether BLUR’s price will decline further, or if this is just a momentary bump in the road.

❓ Will Blur prices take a U-turn after this development

🆕 Blur gets a new pair
Binance revealed Blur’s listing slightly over a week ago. On 29th November, the exchange made an additional announcement, specifying that the token would now be paired with a new stablecoin, FDUSD.

👉 Did BLUR react?
Despite the latest announcement from Binance, Blur displayed no notable reaction on the daily timeframe chart.

📔 How the exchange flow has trended
An examination of Blur exchange flows reveals a recent stabilization in both inflow and outflow over the past few days. Following the announcement of the airdrop, there was a surge in exchange activity, reaching levels unprecedented in months.

👀 ChatGPT thinks $8 is a realistic target for XRP in 2024

⚡️ SEC-Ripple saga: How it began
Ripple has been at loggerheads with the U.S. Securities and Exchange Commission (SEC) for years now.

🔔 Court delivers a partial judgment
In July 2023, the judge ruled that the sale of XRP tokens to retail investors over exchanges and through programmatic sales did not constitute investment contracts; hence, it was not a security in this case.

The Court will seek to schedule a jury trial for the second calendar quarter of 2024.

👉 ChatGPT deciphers some fundamental questions
Note that ChatGPT has limited access to information until 2021 only. That makes it difficult to pull data beyond 2021, let alone make future predictions—something that OpenAI’s policy firmly prohibits.

🕯 ChatGPT predicts the price of XRP
We asked ChatGPT to predict the price of XRP towards the end of the year.

🛍 Bitcoin Surge Blasts $170M in Bearish Shorts as BTC Price Targets $48K

🕯 Bitcoin’s ever-growing prices are leaving at least one group startled by the rapid bumps: Those placing highly leveraged short futures bets aimed at profiting from potential price reversal.

🔶Large liquidations can signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly.

💬 The staging for this rally already started in the week beginning 10/23 when BTC managed to overcome the iron-beam resistance in the $30k area,” shared Julius de Kempenaer, senior technical analyst at StockCharts. “On the weekly chart, the next expected level of resistance is around $48k, the peak set at the end of March 2022.

🔹 Ethereum spot ETF race heats up: This cohort takes an interest

🛡 Institutional inflows into ETH jumps
These recent developments spiked institutional interest in ETH, which until very recently, was failing to attract substantial inflows when compared to Bitcoin.

🔵 FOMO grips the ETH market
As of this writing, ETH was exchanging hands at $2,214.48, up nearly 10% over the last week. The market sentiment was leaning towards greed according to AMBCrypto’s analysis of Hyblock Capital’s data.

⭐️ Of SHIB’s surging burn rate and BONE’s role in it all

🐶 Shiba Inu’s Shibarium propels SHIB burn
Shibarium has experienced a remarkable development in the past few days, marked by a surge in transactions on the Shiba Inu platform.

➡️ Shiba Inu’s burn rate goes off the roof
According to data from Shibburn, there has been a substantial surge in Shiba Inu’s burn rate within the last 24 hours. Over 8.3 billion SHIB tokens have been burned during this period, representing an impressive 1548111.1% increase in the burn rate.

❓ How Shiba Inu has trended in the last 24 hours
AMBCrypto’s examination of the daily timeframe chart for SHIB showed its alignment with the broader market trend. The chart illustrated a cessation of its recent upward trajectory in the ongoing trading session.

🦴 Analyzing BONE’s trend
BONE has played a pivotal role in initiating the anticipated SHIB burn. An analysis of the daily timeframe chart revealed that BONE experienced an upward price trend in the past few days.

💙 Should Blur investors be concerned about the dip in prices?

🚫 BLUR’s NFT space is booming
CryptoDep, a popular X (formerly known as Twitter), recently posted a tweet highlighting one of Blur’s recent achievements.

💵 Blur investors are bearing losses
While the marketplace continued to reach new highs in the NFT ecosystem, the native token took a blow in the recent past as its price dropped.

🪙 Bitcoin, Ethereum lose over the weekend: What’s next?

🕯 Trading activity declines
Bitcoin has led the broader market rally over the last two months, driven by enthusiasm over the approval of spot ETF applications in the U.S. market.

🤫 Derivatives market also go quiet
Speculative interest in the king coin also started fading as the year drew to a close. The Open Interest (OI) in BTC futures dropped more than 9% from last week to $16.95 billion at press time, AMBCrypto observed using Coinglass data.

💬 As we approach the holiday season, we can expect some dip in trading activity due to which the market may remain at current levels. The Bitcoin ETF approval clock is ticking and we can expect a crypto super cycle in 2024 once the final approval is achieved.

📣 Here’s Cardano’s prediction as price nears this support zone

🔍 The 23.6% extension and beyond have been important
On the 16th of November, ADA reached the 23.6% extension level before facing rejection. It eventually breached this level on the 5th of December, and has noted rapid gains since then.

❌ The liquidity pools to the north could be swept
The liquidation levels heatmap and found that the $0.54 level was a strong candidate for a bullish reversal. However, whether prices would go further south from here was unclear.

🔔 FUD around DYDX rises: Should you be concerned?

👉 FUD around DYDX is rising!
Santiment recently posted a tweet highlighting the behavior of a few cryptos. As per the tweet, DYDX and several other coins had witnessed a substantial rise in negative sentiment.

🔶 Is DYDX expecting a price correction?
Since the increase of its FUD, AMBCrypto checked the token’s supply to see whether there was a sell-off. Our analysis found that investors were still buying the token.

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✔️ Optimism, Arbitrum and how 2023 was the year of the L2s

👑 2023 saw increased L2 usage
Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism – “Merge” – in September 2022 propelled the demand for the network.

➡️ Base’s not-so-brief stint at the top of the world
In August, the launch of Base, Coinbase’s scaling solution built on Ethereum, onboarded a new cohort of users into the L2 ecosystem. Less than a month after Base launched, user activity on the network surpassed that of already-existing protocols such as Arbitrum and Optimism [OP].

🌐 User activity on Optimism and Arbitrum in December
The last month of the year saw an uptick in user activity on Optimism. According to data from Etherscan, daily transaction count grew by 40%.

🔖 What Bitcoin’s 2024 predictions say about the king coin’s prices

🛠 Bitcoin miners move away?
The Miner to Exchange Flow metric measures the amount of BTC that is flowing from miners to exchanges. When this metric rallies, miners sell more BTC than they are mining.

This is a sign that miners are bearish on the price of BTC and are mostly interested in selling their holdings.

💰 Also, BTC’s Miner Reserve, which measures the number of coins held in affiliated miners’ wallets, confirmed coin exits from miners’ wallets within the period under review.

💰 The last time this metric was close to such high levels was during the bull market in 2021, when 95% of all UTXOs were held in profit.

🪙 Ripple begins 2024 with 1 bln ritual unlock: How about XRP?

⚡️ Another year, another unlock
At press time, the value of the total tokens unlocked was $611.42 million. For the uninitiated, Ripple unlocks these tokens as a strategy to stabilize the XRP price.

🖥 Steady lads, bulls need to deploy capital
At press time, the RSI reading was 44.93. But XRP would need the RSI to rise above the 50.00 midpoint to confirm the reversal. If this happens, then XRP could be on its way to hitting $0.65.

💎 Digital asset inflows soar to record highs as BTC, SOL take center stage

⚡️ Inflows hit a record high in 2023
Recent data from Coinshares showed that in 2023, digital assets experienced the third-highest volume of funds inflow. The report indicates a total inflow of $2.25 billion for digital asset products.

🪙 Bitcoin and Solana lead inflow volume
Bitcoin witnessed a substantial influx of $1.9 billion, constituting 87% of the total flows. Additionally, Solana experienced the second-highest inflow for the year, with total inflows reaching US$167 million, accounting for 20% of the Assets under Management.

❓ How Bitcoin and Solana have trended so far
Examining the daily timeframe chart of Bitcoin showed that since reaching the $40,000 price level, it has sustained that position despite some fluctuations.