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π€ Trump’s SEC pick: crypto’s new bestie?
Plus: RLUSD and the bull case for XRP
GM. Pull up a chair at the Daily Squeeze bar – we’re serving blockchain juice with a side of fresh market mangoes.
π₯³ Donald Trump appoints Paul Atkins as SEC Chair.
π΅ Ripple’s expected to launch its RLUSD stablecoin today.
π News drops: Enron’s fake comeback, MARA buying a wind energy facility + more
π Market flavor today
Don’t touch your screen when checking the charts today – the market’s electric, might shock ya β‘οΈ The Fear and Greed Index holds steady at 78 in “Greed,” and Bitcoin’s been consistently trading between $94K and $97K. It did slip below $94K yesterday due to some chaos in South Korea (catch up here), but it’s back on course.
Crypto Dan on CryptoQuant is pointing to a golden cross in the SOPR Ratio indicator – a rare event that has appeared only twice in this bull run. This cross is a major bullish flag, typically predicting sharp market moves within 1-2 months. If history repeats itself, we could see a serious Bitcoin breakout before 2024 wraps up or early next year.
Now, while Bitcoin’s still teasing $100K, altcoins are catching some serious momentum.
Solana: boosted by speculation that SOL ETFs might get approved under Trump’s administration.
– Up by 2% this week and 46% this month;
– Reached an all-time high on November 23.
BNB: climbing after a golden cross signaled further upward potential.
– Up by 20% today and 26% this week;
– Hit a new all-time high today.
Dogecoin: fueled by Elon Musk’s involvement in Department of Government Efficiency (DOGE).
– Up by 0.44% today and 6.98% this week;
– Back to levels not seen since 2021.
Tron: possibly rising due to Justin Sun’s recent banana stunt and investment in Trump’s crypto project.
– Up by 70% today and 98% this week;
– Reached a new all-time high today.
The takeaway: energy’s high-voltage, vibes are charged, and those candles? They’re burning brighter than ever – might light up your whole day π₯
π₯ And the winner isβ¦
Back when Donald Trump was rallying for votes, he made one promise that made all crypto bros shed a tear: firing SEC Chair Gary Gensler.
Ah, our boy Gary π The “everything’s a security when you think about it” guy. While he made the life of crypto companies a legal hell, he did keep reporters busy with endless content (thanks for that, I guess… but also screw you).
Well, in the end, Trump didn’t even need to follow through on his big promise because Gary packed his bags and resigned on his own. Naturally, the next question was: who’s next?
Speculation was wild, but the suspense is over – Trump officially dropped the name: Paul Atkins.Β
And who’s this guy?
– He was SEC Chair under Bush;
– Is the CEO & founder of Patomak Global Partners, a risk management consulting firm that works with several crypto exchanges and DeFi platforms;
– Co-chairs the Digital Chamber’s Token Alliance, an advocacy group that promotes digital assets and blockchain.
β¦ simply beautiful π₯Ή And idk if that’s the sound of my heart pounding or all the bulls charging in, but I’m here for it.
β¨ Ripple’s glow-up
Ripple’s having a helluva time these days. XRP’s been pumping like crazy: it’s hitting numbers we haven’t seen since 2018 and locked itself in as the #3 crypto by market cap (reason? The deets are here).
And for those of you XRP fans who’ve been the butt of the joke for years now – y’all might have one more “told you so” moment soon.
RLUSD, Ripple’s dollar-pegged stablecoin, is expected to launch today.
Yes, like, any second now. And why’s that a big deal for XRP? Max Avery’s got the tea, and we’re here to serve it for ya:
– Simple equation: RLUSD transactions = more XRPL activity = more XRP used for fees/bridges = π
– XRP’s killer at cross-currency transfers, and growing RLUSD adoption would boost its utility;
– RLUSD brings liquidity to XRPL β traders and institutions wanna enter the chat β they use XRP for fees (basically, we get a cycle that feeds itself);
– RLUSD could integrate with dApps on XRPL, which would be powered by XRP = more use cases;
– RLUSD adoption shows XRPL’s strength, which could draw in speculators and big-money players into the blockchain.
Yeah, so, confetti ready? You might need it – ’cause this could be massive.
π News drops
π€ Some pranksters made it seem like Enron – the company that crashed 20 years ago – is making a comeback. To top it off, they hinted at a token launch as part of this fake revival.
β»οΈ Crypto miner MARA bought a wind energy facility in Texas. Instead of discarding or selling off old hardware, they’re giving it a second life at the new site – cutting BTC production costs while keeping it sustainable.
π³ Virgin Voyages is now the first cruise line to accept Bitcoin. For $120K, you get an Annual Pass with unlimited cruises, a private Sea Terrace cabin, laundry service, Wi-Fi, and a $100 bar tab on every trip.
πΈ Roger Ver, aka Bitcoin Jesus, is pushing to get tax evasion charges against him dropped. He says the case goes against his constitutional rights.
π€₯ Alex Mashinsky, the ex-CEO of Celsius, reached a plea deal with federal prosecutors. He’s fessing up to two charges: lying about not dumping his CEL tokens and making false claims that Celsius Earn was regulator-approved.
π«π· French lawmakers are considering a tax on unrealized crypto gains. They wanna group crypto with things like empty houses and yachts – basically, stuff that just sits there.
π Juicy memes
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