Ripple CTO Warns of Price Volatility as RLUSD Faces Early Supply Risks

Posted on December 16, 2024 by Arslan Butt

Ripple’s CTO, David Schwartz, warns that the launch of RippleUSD (RLUSD) may face early supply shortages and price volatility.

In a post on X, Schwartz says large speculative orders will cause short term price distortions even though RLUSD is pegged 1:1 to the US dollar.

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DAX: Mixed PMI Data Adds to Diminishing Investor Confidence

Posted on December 16, 2024 by Gino Bruno D'Alessio

Manufacturing data showed a larger than expected contraction as market sentiment turns bearish on week’s open

Mixed preliminary PMI data
Market sentiment turns bearish on week open
ECB enthusiasm diminishes

The [[DAX]] opened down 0.30% this morning as investor sentiment turns bearish on profit taking and eventless week. The main news for the week will be from the FOMC meeting on Wednesday.

The market is expecting a 0.25% interest rate cut, what may create further volatility is the post-meeting press conference.

From Germany we will get Ifo Business Climate and ZEW Economic Conditions on Tuesday, and GfK Consumer Confidence on Thursday.

DAX Live Chart

[[DAX-graph]]

Mixed PMI Data

Preliminary PMI data today showed manufacturing still in contraction. Manufacturing PMI printed at 42.5 down from last month’s reading of 43, and lower than analysts’ expectations of 43.8.

Whereas Preliminary Services PMI data showed expansion to 51 after last month’s contraction to 49.3. Positive surprise on this one as analysts had expected another decline to 49.2.

The Composite PMI preliminary showed an overall contraction of 47.8, slightly worse than expected at 48. But also, better than last month’s reading of 47.2.

DAX Market Sentiment Languishes

Investors in the DAX index are beginning to cash in on some profits at this week’s open. The ECB decision is out of the way and the perception of loosening monetary policy is well priced into the market.

This’s week’s FOMC meeting might add some fuel to the market if Powell delivers a dovish press conference. But I have the feeling the market is lacking positive data to continue holding a rally of this strength.

DAX Weekly Chart

The weekly chart above for the DAX shows a market undergoing a strong bullish trend. The market is above the Ichimoku cloud, and the trend is clear.

However, last week’s candle produced a baby body after the previously large green candle. Indicating the rally may be running out of steam.

The RSI also failed to break above the level of 70 for the last two green candles. Again, indicating a lack of momentum in this surge to new all-time highs. I would expect this week to close lower than today’s open.

Forex Signals Brief December 16: FED, BOE and BOJ Meetings This Week

Posted on December 16, 2024December 15, 2024 by Skerdian Meta

This week we have three major central bank meeting, although only the FED is expected to change rates, while the BOJ and the BOE are expected to keep interest rates on hold.

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Justin Sun to Acquire 53K ETH Amid Ethereum’s 2% Surge, What’s Next?

Posted on December 16, 2024 by Arslan Butt

Tron founder Justin Sun has made waves in the market by announcing he will be buying 52,905 ETH worth around $209 million from Lido.

This comes after he sold 29,920 ETH worth $119.7 million when Ethereum hit $4,000. The conflicting moves – sell and buy – have sparked curiosity about what it means for Ethereum’s price.

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Moca Network (MOCA) Price Surges 370% After Upbit and Bithumb Listings

Posted on December 16, 2024December 16, 2024 by Arslan Butt

Moca Network (MOCA), the native token of the Mocaverse ecosystem, skyrocketed by 370% following major listings on South Korea’s leading exchanges, Upbit and Bithumb.

Both exchanges introduced MOCA in Korean Won (KRW) trading pairs, igniting massive investor interest and trading volume. The listings mark a significant milestone for Moca Foundation, positioning South Korea as a key market for web3 adoption

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Ondo Finance (ONDO) Surges as Trump-Backed World Liberty Financial Makes Strategic Investment

Posted on December 16, 2024 by Arslan Butt

Ondo Finance (ONDO) has experienced a 14% gain in the past 24 hours following a strategic investment by World Liberty Financial, a DeFi project associated with the Trump family.

Ondo Finance (ONDO) Surges as Trump-Backed World Liberty Financial Makes Strategic Investment — Ondo surges after Trump’s World Liberty Financial invests in the token

World Liberty Financial (WLFI) Buys Over 134,000 ONDO Tokens

On December 16, 2024, World Liberty Financial purchased 134,216 ONDO tokens for approximately 250,000 USDC through the Cow Protocol. The acquisition, executed at an average price of $1.83, has sparked immediate market interest and contributed to a short-term price surge.

What is Ondo Finance: Bridging Traditional and Decentralized Finance?

Ondo Finance has positioned itself as a innovative player in the real-world asset (RWA) tokenization sector. The platform’s key products include:

OUSG: A tokenized short-term treasury fund
Ondo USD Yield (USDY): An interest-bearing stablecoin

ONDO/USD Technical Analysis and Price Performance

ONDO is trading at $2.09 at the time of writing, having increased remarkably 14% over the past 24 hours and shockingly 30% over the past week. With a market value of $2.88 billion and a 24-hour trading volume of $557 million, the token today ranks 53rd on CoinMarketCap.

The token has been testing price discovery since early December, breaking its previous all-time high of $1.48. Technical analysts are closely monitoring exchange inflows, which could indicate potential significant price movements.

Key levels to watch:

Support Level: $1.83
Resistance Level: $2.20

World Liberty Financial’s investment in Ondo comes at a period of increasing institutional focus. Notable crypto investor Dan Morehead of Pantera Capital recently highlighted ONDO as one of the “interesting” tokens in their portfolio, adding credibility to the project.

World Liberty’s Crypto Strategy

This ONDO purchase is part of a broader investment strategy by World Liberty Financial. Since November 30, the project has spent approximately $44.74 million acquiring various tokens, including:

2,631 ETH at $3,801
Significant purchases of LINK, AAVE, and ENA
Recent ONDO token purchase

World Liberty Financial’s strategic investment in ONDO, coupled with growing institutional interest, suggests increasing confidence in Ondo Finance’s approach to tokenizing real-world assets (RWAs). The project’s innovative model of bridging traditional finance with blockchain technology appears to be gaining traction.

Chainlink Price Prediction: Analysts Forecast More Bullish Moment in LINK

Posted on December 16, 2024 by Arslan Butt

Chainlink (LINK) is experiencing a remarkable bullish run, currently trading around $29 with an impressive 8.35% weekly gain and a staggering 104% surge over the past 30 days.

Chainlink Price Prediction: Analysts Forecast More Bullish Moment in LINK — Chainlink price prediction

Chainlink’s Supporting Fundamentals: Recent Developments

Rising Institutional Interest

Many important institutional developments are helping bolster Chainlink’s market position. Opening the Chainlink Trust to qualified investors with a net asset value of $111.91 per share and total assets under management of $30.47 million marks a major change in grayscale. In line with this institutional movement, World Liberty Financial has deliberately made $2 million investments in LINK, showing increasing faith among investment companies about Chainlink’s future.

The Chainlink Ecosystem’s Technical Strengths

Chainlink is exhibiting amazing technological development and commercial leadership. Leading in the real-world asset (RWA) industry, the project has produced almost 394 GitHub events in the past 30 days. By outpacing rivals like Synthetix and Dusk Foundation with this high degree of development, Chainlink emphasizes the dedication of the project to ongoing innovation and technological growth.

Strategic Partnerships

Strategic integrations recently have been extending Chainlink’s market reach and value. Using Chainlink’s Verifiable Random Function (VRF) to improve transparent and safe distributed gaming experiences, the technology has especially helped BetSwirl expand to the Base network. Chainlink is proving its capacity to build strong, linked blockchain solutions that solve real-world problems and enhance current technology infrastructures by using advanced tools like The Graph and AerodromeFi.

LINK Market Sentiment and Whale Activity

Whale Accumulation

111.97% increase in crypto whale holdings
Total whale holdings valued at $19.61 billion
Reflects growing institutional confidence

LINK/USD Technical Analysis

[[LINK/USD-graph]]

Key Resistance Levels

Analysts are closely watching critical resistance points for [[LINK/USD]]:

Immediate resistance at $29.954 (0.786 Fibonacci level)
Long-term three-year downtrend resistance at $28.86
Potential breakout targets ranging from $35 to $40

Fibonacci Insights

The current price action reveals important Fibonacci retracement levels:

Support at $29.267 (0.618 Fibonacci level)
Potential momentum zones at $30.947, $32.202, and $33.872

Risk Considerations

While the outlook is predominantly positive, investors should note:

Stochastic RSI indicates overbought conditions
Potential for short-term corrections
Critical support levels at $29.267 and $28.767

Chainlink Price Predictions

Prominent analysts offer bullish perspectives:

Ali suggests potential breakout to $34
Michaël van de Poppe considers LINK a ‘blue chip’ investment
Alan Santana sees bullish targets at $32, $35, with extended potential to $47 and $61

Oil Prices Ease After 6% Rally, Fed Rate Decision Eyed

Posted on December 16, 2024 by Arslan Butt

Oil futures retreated slightly on Monday, slipping from multi-week highs as traders locked in profits after a 6% rally last week.

Attention now shifts to the Federal Reserve’s upcoming meeting, where policymakers are expected to announce a 25-basis point rate cut. Lower interest rates can stimulate economic growth and, in turn, boost oil demand.

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Gold Prices Rise to $2,652 as Fed Rate Decision Looms

Posted on December 16, 2024 by Arslan Butt

Gold prices rose modestly on Monday as market participants braced for the U.S. Federal Reserve’s interest rate decision, with expectations of a quarter-point cut dominating sentiment.

Spot gold climbed 0.1% to $2,652.07 per ounce as of 0155 GMT, while U.S. gold futures dipped slightly by 0.2% to $2,670.90.

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2-Year Low in NZDUSD Rate, As Chinese Consumers Weaken Further

Posted on December 16, 2024 by Skerdian Meta

NZDUSD tested the 2023 low in late November but bounced off that support, however, the pair resumed the downtrend and closed at a 2-year low last week after breaking last year’s low.

China's 2nd stimulus measures disappointed markets again — China’s 2nd stimulus measures disappointed markets again

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