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Chain Reaction Podcast: Your daily crypto fix in just 10 minutes |
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Short on time? Keep up with crypto's rapid pace in just 10 minutes a day. No need to sift through endless articles—"Chain Reaction" distills the most important updates and insights into quick, digestible episodes. |
Why listen? What's in it for you? |
Relevant updates: Get the latest market trends and impactful events. Fresh perspectives: Gain insights that help you connect the dots. Hear the "why" behind the "what" from our team of seasoned analysts. Efficient format: Stay informed and ready to act with bite-sized episodes that cut through the noise.
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On the radar |
Our latest episode takes a closer look at: |
Bitcoin's surge past $100K: Examining bullish and bearish signals as it targets $110K. TRUMP coin volatility: Insights into its impact on the broader crypto market. Key market movements: Whale activity and trends in Dogecoin, Algorand, and Monero. Major developments: A $30M Coinseeker acquisition and Trump's influence on crypto. Broader implications: Trump's data center venture and discussions around pardoning Ross Ulbricht.
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How to tune in |
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Start your day smarter—click, listen, and lead the conversation! |
Bitcoin might soar over $589,000 if historical trends hold |
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Key points: |
Bitcoin briefly breached $109,000, potentially establishing $100,000 as a key support level. Long-term holders' accumulation and miner profitability underlined potential for price surge.
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News - Bitcoin surged past the $100,000-mark for the second time this year a few days ago. However, it didn't stop there, with the cryptocurrency hitting an unprecedented high of over $109,000 too. |
Now, although price corrections soon pulled BTC down to a press time trading price of $102,629, this milestone highlighted the potential establishment of $100,000 as a critical psychological support level. |
Will history repeat itself? - According to CryptoQuant, there has been an interesting shift in Bitcoin market dynamics, with short-term holders (STHs) starting to sell at a loss. This was reflected in the negative Short-Term Holder (STH) SOPR multiple. Historically, such periods often trigger accumulation by long-term holders (LTHs) - A highly bullish group that holds Bitcoin for at least 155 days. This accumulation reduces Bitcoin's circulating supply, driving the price higher. |
Meanwhile, miners have been enjoying new levels of profitability despite a hike in mining difficulty. In fact, miner profitability is at around 3x right now. This convergence of factors may be hinting at a potential price surge as LTHs continue to accumulate. |
Bitcoin's price prediction - Bitcoin's current price performance mirrors trends from previous market cycles, notably the 2015-2018 bull run. If this historical pattern holds, BTC could see a remarkable rally of about 562%, taking its price to over $589,000 by the end of the current cycle. |
In fact, BlackRock's CEO Larry Fink predicted, |
"If you're frightened about debasement or local political instability, you have an international instrument called Bitcoin to overcome those fears. I was with a sovereign-wealth fund during this week, and there was a conversation: Should we have a 2% allocation? Should we have a 5% allocation? If everybody adopted that conversation, it would be $500,000, $600,000, $700,000 for Bitcoin." |
Dencun upgrade may affect Ethereum's long-term revenue potential |
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Key point |
Ethereum led 2024 blockchain earnings with $2.48 billion in fees, despite reduced transaction costs. Solana's fee earnings soared by 2,838%, driven by the memecoin craze and record wallet activity.
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News - In 2024, Ethereum solidified its dominance as the highest-earning blockchain, surpassing all others in network fees. Despite a March upgrade that reduced transaction costs, Ethereum still amassed $2.48 billion in fees, marking a 3% increase from the previous year. Trailing closely behind, TR earned $2.15 billion, while Bitcoin secured third place with $922 million in fees. |
Concerns surrounding the Dencun upgrade - The Ethereum network brought in $1.17 billion in Q1 alone, nearly half of its total earnings for the year. However, analysts are concerned about the long-term effects of Ethereum's Dencun upgrade, which lowered transaction fees for layer-2 networks, potentially impacting scaling solutions. |
Meanwhile, Ethereum's ecosystem saw leadership changes, with Vitalik Buterin announcing new structural shifts at the Ethereum Foundation for better communication with developers. This move came shortly after core developer Eric Conner's departure on 21 January, following Buterin's decision to retain full authority over the foundation, sparking debate within the community. |
Adding to the discussion, Ethereum's founding member Anthony D'Onofrio said, |
"To ensure its future, the Ethereum Foundation must transform itself from a reactive institution into a proactive visionary force." |
Network activity - According to CoinGecko, blockchain networks collectively amassed $6.60 billion in fees across 21 layer-1 protocols in 2024, while layer 2 blockchains contributed $294 million to the total. TRON and Bitcoin were among the top performers, whereas Solana stood out with an extraordinary 2,838% spike in its fee earnings, jumping from $25 million in 2023 to $750 million in 2024. |
This surge was largely fueled by the memecoin craze, which propelled Solana's active wallet count to an unprecedented 100 million in October. |
Dogecoin ETF registration sparks hope - Can DOGE hit $15 soon? |
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Key points: |
Bitwise's Dogecoin ETF registration sparked investor interest, with potential SEC filing anticipated. DOGE's price might hit $15 if ETF gains approval.
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News - Bitwise's recent registration of a legal entity for a potential Dogecoin ETF has sparked speculation of an impending submission to the U.S. Securities and Exchange Commission (SEC). The news initially fueled excitement among investors, driving DOGE's price to a 24-hour peak of $0.373. |
However, the rally was short-lived as broader market volatility triggered a price correction, dampening the initial enthusiasm. |
Dogecoin ETF starts to take shape - While this does not constitute an official filing with the U.S SEC, it lays the groundwork for a future submission. Bloomberg ETF analyst Eric Balchunas confirmed the development, stating, |
"This is real and not a market manipulation scheme." |
He also guessed that a DOGE ETF could debut as early as April 2025, pending regulatory approval. |
Impact on memecoin's price - Dogecoin saw an initial 4% price spike, reaching $0.373, though it later dipped to $0.35 amid a broader market sell-off. Adding to the enthusiasm, whale activity has surged, with holders accumulating 590 million DOGE in a single day, according to Santiment. |
Meanwhile, Dogecoin's iconic image appeared on the website of the newly established U.S. Department of Government Efficiency (D.O.G.E.), igniting speculation about its potential role in the agency. |
While some technical analysts foresee DOGE rising to $2 if such bullish patterns hold, crypto analyst Ali Martinez predicts that a Dogecoin ETF approval could catapult the price to as high as $15. |
TRUMP memecoin, WLF spark concerns over ethical standards |
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Key points: |
Some are calling for investigation into Trump's crypto ventures, citing ethical, national security risks. TRUMP memecoin surged by 400% despite these apprehensions.
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News - Democrat Representative Gerald Connolly has urged the U.S. House Committee on Oversight to investigate a potential conflict of interest in President Trump's crypto ventures. In a letter dated 21 January, Connolly claimed that Trump's World Liberty Financial and TRUMP memecoin could breach ethical standards and pose national security risks. |
Ongoing controversy- Connolly highlighted that WLF's largest investor, TRON Founder Justin Sun, is a foreign entrepreneur facing securities fraud charges by the SEC. "Financial entanglements like this one raise serious national security concerns about the potential for foreign influence on U.S policy," Connolly said. |
He also noted that Sun's $75 million investment in WLF could lead to funds being funnelled directly to Trump, surpassing the company's revenue threshold. Connolly went on to add, |
"If these reforms are to mean anything, they must be applied universally." |
For his part, this is what President Trump had to say about his namesake memecoin, |
"I don't know where it is. I don't know much about it other than I launched it, other than it was very successful." |
What's more? - California Representative Maxine Waters, a Democrat and ranking member of the U.S House Financial Services Committee, during a 22 January meeting, criticized the Republicans' oversight plan. In fact, she deemed it "alarming" for its lack of attention to crypto firms and financial institutions. |
Despite an initial drop in value, the OFFICIAL TRUMP token has since surged by over 400%, hitting a market capitalization exceeding $14 billion. |
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More stories from the crypto ecosystem |
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Interesting facts |
Dubai is revolutionizing governance through its ambitious plan to integrate blockchain technology across various sectors. Initiatives such as the UAE Pass showcase Dubai's commitment to creating a blockchain-powered ecosystem, bringing it closer to its vision of becoming the world's first fully blockchain-enabled city. Satoshi Island is a private island designed as a haven for crypto enthusiasts and professionals. The island exclusively uses cryptocurrencies for transactions, with its vast residential and commercial spaces represented through NFTs, offering a unique blend of innovation, technology, and community living. During the early stages of the Russian invasion in 2022, Ukraine leveraged the power of cryptocurrencies to raise over $100 million in donations. Recognizing blockchain technology, the Ukrainian government and non-profit organizations shared official wallet addresses across social media platforms, enabling supporters worldwide to contribute directly through cryptocurrencies.
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Top 3 coins of the day |
Solana (SOL) |
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Key points: |
At press time, SOL was trading at $246.52, down by over 2% in the last 24 hours. If recovery lags, SOL might drop below the support level at $231.62.
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What you should know: |
The launch of several memecoins, including the OFFICIAL TRUMP [TRUMP] memecoin, triggered a significant bullish surge for Solana [SOL], with the altcoin registering remarkable 22% weekly gains. However, this momentum quickly faded as the broader crypto market saw bearish pressure. At the time of writing, SOL was priced at $246.52, reflecting a 2.70% drop in the last 24 hours. Although the Chaikin Money Flow (CMF) indicator remained in positive territory, its downward movement suggested that sellers could soon surpass buyers. On the other hand, the Volume Oscillator, which dipped into the negative zone, indicated that selling pressure is still relatively weak compared to buying activity. If SOL manages to break the resistance level at $265.34, a bullish breakout could be in the cards. |
Shiba Inu (SHIB) |
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Key points: |
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What you should know: |
Shiba Inu [SHIB] mirrored the broader market's bearish sentiment, with the dog-themed memecoin trading at $0.00001993, underlining a 2.44% drop in the last 24 hours. However, the Relative Strength Index (RSI) of 40, above the neutral level, suggested that some bullish pressure still remains. At the same time, the widening Bollinger Bands signaled heightened volatility, indicating that a price shift could be imminent, with sellers potentially gaining control. Thus, if SHIB manages to break through the resistance at $0.00002059, a bullish breakout could be triggered. Otherwise, the memecoin may soon fall below the support level at $0.00001931. |
Chainlink (LINK) |
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Key points: |
LINK mirrored the broader market sentiment and turned bearish on the daily charts. LINK saw a weekly hike of 11.10% over the past week, before correcting.
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What you should know: |
Following World Liberty's substantial purchase of 177,928 LINK tokens valued at $4.7 million, Chainlink (LINK) saw a significant price surge. However, at the time of writing, LINK had declined by 5.83% over the last 24 hours, trading at $24.36. Despite this daily dip, the weekly chart flashed bullish momentum with an 11.10% hike over the past week. The MACD indicator further supported the potential short-term nature of this bearish move. The MACD line lay above the Signal Line, accompanied by green histograms, indicating that bullish pressure still outweighed bearish sentiment. If this momentum persists, LINK may soon transition to a bullish trend on the daily chart. However, a failure to maintain this momentum could lead to a potential price drop below the $23.058 support level. |
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