Floki ETP Launch Could Spark Meme Coin Rally in 2025

Posted on December 28, 2024 by Arslan Butt

The Floki community is making significant strides with its upcoming Exchange-Traded Product (ETP) launch, a move that has generated optimism across the crypto market. Following Dogecoin’s successful Valour Dogecoin ETP launch, Floki is expected to become the next meme coin to gain institutional traction.

The Floki team has passed a critical proposal to create liquidity for the ETP, with plans to burn tokens to streamline its supply and bolster its market positioning. This initiative aims to increase the token’s value while drawing more institutional and retail investors. If successful, the Floki ETP could serve as a template for other meme coin-backed financial products, including those for tokens like PEPE and BONK.

The Floki ETP isn’t just about the meme coin itself—it signals a broader shift toward the financialization of meme coins. By providing institutional-grade access to such assets, the crypto sector hopes to attract mainstream investors, further legitimizing the meme coin category.

How Meme Coin ETPs Could Shape 2025

The launch of meme coin-backed ETPs has the potential to drive significant growth in the sector. Dogecoin’s ETP debut in November provided a glimpse of this potential, increasing market visibility and accessibility for the iconic token.

Following in Dogecoin’s footsteps, Floki’s upcoming ETP could set a precedent for other meme coins. BONK, for instance, is already in talks with New York-based Osprey Funds for an ETP launch targeting both retail and institutional investors. If more meme coins follow suit, the sector could see a surge in demand, creating a ripple effect across the broader crypto market.

Key Developments Driving Meme Coin Momentum:

Floki ETP: Liquidity creation and token burns to prepare for launch.
Institutional Interest: Similar launches by Dogecoin have boosted credibility.
Expansion Opportunities: Other meme coins like BONK are planning ETP launches.

FLOKI

Can the Meme Coin Rally Become Reality?

The anticipation surrounding Floki’s ETP launch is driving increased investor interest, but the question remains: Will it spark a broader rally? Much depends on how these products are received by the market. ETPs can simplify exposure to crypto assets, making them attractive to institutional investors wary of the complexities of direct token holdings.

If Floki’s ETP succeeds in attracting substantial institutional funds, it could pave the way for a meme coin resurgence in 2025. The ripple effect may extend to other projects, driving value and visibility across the entire sector. With meme coins like PEPE and BONK poised for similar initiatives, the groundwork is being laid for a potentially bullish year ahead.

IRS’s New Ruling on Decentralized Exchanges: A Major Challenge for the Crypto Industry

Posted on December 28, 2024 by Arslan Butt

The U.S. Internal Revenue Service (IRS) recently unveiled a ruling that requires decentralized exchanges (DEXs) to comply with the same reporting standards as traditional brokers.

This new regulation, set to be implemented in 2027, mandates brokers to report gross proceeds from digital asset transactions, including cryptocurrencies, stablecoins, and non-fungible tokens (NFTs). However, this expanded scope now includes front-end decentralized finance (DeFi) platforms, sparking widespread criticism from crypto executives, legal experts, and industry advocates.

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Galaxy Digital Research Head Doubts US Will Purchase Bitcoin in 2025

Posted on December 28, 2024 by Arslan Butt

Galaxy Research predicts that the U.S. government will not buy Bitcoin in 2025, though it will focus on protecting the Bitcoin it already holds.

Currently, the U.S. holds about 183,850 BTC, worth around $17.36 billion. Instead of purchasing more, the government is expected to explore a Bitcoin reserve policy, looking into ways to manage its existing Bitcoin supply. This exploration may involve different government departments and agencies, but no new Bitcoin purchases are anticipated in 2025.

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Posted on December 28, 2024 by Arslan Butt

Stephen Akridge, one of the co-founders of the Solana blockchain, is caught in a legal mess, with his ex-wife, Elisa Rossi, accusing him of stealing millions of dollars’ worth of Solana (SOL) tokens.

This case highlights the complex and often messy world of cryptocurrency, where digital assets, including staking rewards, are becoming central to personal disputes.

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U.S Dollar Index Shows 6.6% Gain In 2024

Posted on December 28, 2024 by Olumide Adesina

The dollar index, which compares the greenback’s strength to six major currencies, showed a 6.6 percent gain in 2024 after easing 0.06 percent on Friday.

The USD/Yen was still close to Tuesday’s 5-1/2-month high Although it was down by 6 basis points. In comparison. the greenback gained 53.4 percent this month against the struggling Japanese yen and nearly 12 percent for 2024.

Indicators point higher and closer to overbought levels as the Dollar Index continues its bullish momentum. The DXY continues to creep higher near 108 index points amid low market liquidity, indicating ongoing buying interest. The technical picture stays positive if the DXY index is above 106 index points.

The Japanese Yen suffered because the BoJ decided against raising interest rates this month.

The statement by Governor Kazuo Ueda that he would rather wait for clarity on Trump’s policies highlights growing anxiety among U.S. central banks globally. S. . tariffs affecting international trade. Jerome Powell, the Fed’s chair, stated earlier this month that Central bank officials “are going to be cautious about further cuts.”.

Donald Trump has also had an impact on the economy. His proposed deregulation, tax cuts, tariff hikes, and stricter immigration laws are seen by economists as both inflationary and pro-growth.

Conversely, traders expect the European Central Bank to implement additional rate cuts and the Bank of Japan to maintain its loose monetary policy settings, which can be positive for their respective currencies. The escalating anticipations of higher U.S. interest rates propelled the 10-year Treasury yield to its peak since early May, initially reaching 4.641% on Thursday.

Solana Co-Founder accused of Crypto Misappropriation

Posted on December 28, 2024 by Olumide Adesina

Co-founder of Solana Stephen Akridge and his ex-wife Elisa Rossi are involved in a legal battle over the alleged theft of significant profits from Solana (SOL) tokens.

According to Rossi, Akridge drains her digital wallet’s staking rewards using his sophisticated knowledge of blockchain and cryptocurrency. Rossi lost “millions of dollars” in revenue because of his actions.

She claimed that Akridge received all the staking commissions allotted to her SOL holdings and had complete control over her accounts from early March to mid-May.

The couple filed for divorce in February 2023 after ten years of marriage. Rossi’s lawsuit seeks damages for the alleged financial losses she sustained and alleges fraud, unjust enrichment, and breach of contract.

Rossi has called the amounts “significant” and asked that some parts of the complaint be kept private although the precise value of the contested tokens is still unknown. Solana Labs and the lawyers for Rossi and Akridge have refrained from making any public remarks.

Akridge worked closely with co-founders Raj Gokal and Anatoly Yakovenko to develop the blockchain platform. Akridge was earlier working with Qualcomm before his involvement with Solana.

He currently serves as the CEO of the cybersecurity company Cyber Grant, based in California.

Various platforms claim that staking SOL tokens yields an annual percentage yield (APY) between 5 and 12 percent.

The liquid staking market accounts for about half of Solana’s total TVL. In addition to the platform’s APY, users who engage in liquid staking receive a proxy token worth the same amount when they staked. This increases the potential rewards because the newly created token can be used on various decentralized finance protocols.

META Stock Surges in Massive Uptrend: Is a New High on the Horizon?

Posted on December 28, 2024 by Konstantin Kaiser

META stock has exhibited a significant uptrend over the past two years, surging from $88 to $638—a remarkable increase of over 624%. With such strong momentum, the key question remains: Can META sustain this impressive trajectory, or is a potential correction on the horizon?

Weakening Bullish Momentum on META’s Monthly Chart Indicators

On the monthly chart, the MACD histogram has been ticking lower for the past three months, signaling weakening bullish momentum. Simultaneously, the RSI is approaching overbought territory and showing a slight bearish divergence, indicating that the upward momentum may be losing strength.

META Stock Moves Within Parallel Upward Channel, Eyes Key Support at $50

On the weekly chart, META stock is trading within a parallel upward channel, frequently gravitating toward the middle line with occasional corrections down to the lower channel support. This support level aligns with the 50-week EMA, which currently acts as significant support at $507.

The indicators, however, present mixed signals. While the EMAs confirm the mid-term bullish trend due to their golden crossover formation, the RSI is showing a bearish divergence, and the MACD lines have crossed bearishly, with the MACD histogram ticking lower for the past two months.

A retracement toward the channel support at $507 is possible in the mid-term, but the overall bullish trend remains intact.

META Stock Could See a 13 % Correction

The META stock may be poised for a 13 % correction. After a 9.4 % pullback, it found temporary support by bouncing off the 50-day EMA at $587. However, the daily chart presents mixed signals. The RSI remains in neutral territory, while the EMAs confirm the bullish trend in the short-to-medium term with a golden crossover formation. On the other hand, the MACD lines have crossed bearishly, and the MACD histogram is ticking lower, suggesting potential downside momentum.

Donald Trump Requests Supreme Court Postpone TikTok Ban

Posted on December 28, 2024 by Olumide Adesina

President-elect Donald Trump requested that the Supreme Court postpone an enforcement rule that would outlaw TikTok in the United States on Jan. 19 if the Chinese parent company does not sell the app. The U.S. apex court is scheduled to hear arguments in the case on January 10.

D. John Sauer, Trump’s attorney and the president-elect’s choice for U.S. solicitor general wrote, “President Trump takes no position on the underlying merits of this dispute.” This will allow President Trump’s incoming Administration to attempt a political settlement of the case’s issues.

The Protecting Americans from Foreign Adversary Controlled Applications Act, a bipartisan bill passed by Congress and signed into law by President Joe Biden in April, is the law at the center of the lawsuit.

The court expedited the briefing and oral argument schedule after deciding to hear the case earlier this month. Nevertheless, the court denied TikTok’s request to halt the ban’s implementation, giving it only nine days following oral arguments to either issue an opinion or permanently block the law. Trump—who attempted to ban TikTok in 2020 but was blocked by the courts—said he could enact a political solution before the court’s decision.

The Justice Department and TikTok also filed briefs in the case, primarily restating their arguments before the U.S District of Columbia Circuit Court of Appeals.

The government’s national security arguments for prohibiting the app, such as worries that the Chinese government might obtain user data and alter app content, were deemed valid by the court, which upheld the law.

The Chinese government denied claims that TikTok is a security risk to the world’s largest economy. The Justice Department defended the law in its Friday court filing citing national security concerns that the Chinese government might exert influence over the company. TikTok argued in its brief against the law, claiming that a ban on the app would infringe upon First Amendment rights to free speech.

XRP Defrosts Under Crypto Sun

Posted on December 28, 2024December 28, 2024 by Olumide Adesina

XRP is presently consolidating over a longer time frame. The market affirms a consolidation phase within an overall uptrend by moving sideways. As of this writing, XRP is trading at $2.17, down more than 1.7 percent.

XRP retreated from its peak of $2.9 on December 3 on expectations that the SEC would file its opening brief on the appeal by the deadline.

SEC Chair Gensler will depart the agency on January 20 but the SEC chair strengthened his position on the crypto industry after elevating crypto-enforcement attorneys to senior executive roles. Paul Atkins, the new SEC chair, has a difficult start. Markets project Trump’s pro-crypto stance and the agency’s ingrained enforcement procedures will take some time

The price chart’s wedge formations, which frequently indicate breakouts, support XRP’s continued resilience. The general trend for XRP is still bullish despite the current consolidation.

Recent price action appears to be a brief pullback rather than marking the beginning of a downtrend. It is important to remember that XRP is still above its 2021 high of $1.96. If the price keeps rising, it may challenge its all-time high of roughly $3.25 to $3.30, which also coincides with a crucial Fibonacci level. This is a clear indication of a robust market.

The market outlook is still positive as long as the price remains above this, and maintaining this level is essential for XRP’s ongoing upward momentum.

Ripple is still a leading cryptocurrency player. The token’s market valuation is valued at $123 billion, making it the fourth-largest cryptocurrency. Ripple keeps moving forward with new projects despite legal obstacles.

The recurrent cycles of growth and consolidation that characterize liquidity-driven assets are also evident in Ripple-based tokens. These trends demonstrate how effective technical analysis is at forecasting market movements. However, experts advise a concentrated investment strategy in high-performing cryptocurrencies and caution against diversifying portfolios across too many assets.

Ethereum’ Co-Founder Supports Thailand Wild Life Program

Posted on December 28, 2024 by Olumide Adesina

Vitalik Buterin, a co-founder of Ethereum, donated almost $300,000 to Thailand’s Khao Kheow Open Zoo in exchange for adopting Moo Deng. The Russian-born programmer wrote to Khao Kheow’s director in a letter posted on X, explaining that he became involved after visiting the facility recently and being enthralled by its dedication to animal welfare and community involvement.

ETH co-founder emphasized Moo Deng’s special position as a cultural ambassador for Thailand and thanked the zoo for having him. Buterin stated the significance of enhancing the pygmy hippo’s habitat while applauding the animal sanctuary’s efforts.

Additionally, he praised Thailand’s hospitality to the Ethereum community, particularly during last November’s Devcon SEA in Bangkok. In Moo Deng’s honor, the 30-year-old promised to donate at least 10 million baht, or roughly $300,000, to be paid in two installments. The date of the second contribution will be announced later.

The first contribution was made on December 26. Additionally, Buterin pledged an additional 88 ETH to guarantee continued funding for the zoo’s initiatives.

Moo Deng, a well-liked symbol in Thailand, rose to international prominence. The token has drawn interest from the cryptocurrency community despite recent market correction, In the past, Buterin donated more than $1 million worth of meme tokens, including 10 billion MOODENG, to different charities.

He recently criticized the meme coin market, criticizing the spread of tokens with celebrity inspiration. He maintained that it would be preferable if they had a public objective to support a particular cause, or at the very least, included entertaining features rather than speculation