Breathing Crypto

$MOCA Skyrockets 42% Amid Major Wallet Transfers to Top Exchanges

Over the last 2 hours, #Mocaverse wallets moved 24.5M $MOCA ($10M) to #Gateio, #KuCoin, #Bybit, and #Bitget, likely fueling market-making efforts.

$MOCA's price has skyrocketed by 42% today, showcasing strong momentum and investor interest.

https://etherscan.io/address/0xdecd6922a4093df79afe21fa66d5153e297f704a#tokentxns

https://etherscan.io/address/0x3aed4a37dd56a49db4031b56ec8afe90ef2b263b#tokentxns

Solana Breaks Records with Over 5,000 TPS Following v2.0.19 Upgrade

On December 24, 2024, the Solana blockchain achieved a historic milestone, surpassing 5,000 transactions per second (TPS) in daily activity. This new record follows the successful deployment of the v2.0.19 upgrade, which significantly enhanced network efficiency.

Notably, 3% of Solana's stake is now operating on the cutting-edge Frankendancer platform, currently in late-stage testing and scheduled for mainnet release by late Q1 2025. With over 2,000 globally distributed full nodes powering the network, Solana continues to showcase its unmatched capacity for high-speed, decentralized transactions.

This achievement reaffirms Solana’s position as a leader in blockchain innovation, drawing comparisons to other platforms like Base. While discussions about network architecture and performance persist in the crypto community, Solana's scalability and decentralization remain key advantages.

IRS Calls Crypto Staking Taxable Amid Ongoing Lawsuit

The IRS maintains that crypto staking rewards are taxable upon receipt, according to a Dec. 20 court filing reported by Bloomberg. This position is at the center of a legal dispute with Joshua and Jessica Jarrett, a Tennessee couple staking on Tezos, who argue rewards should only be taxed when sold.

The IRS rejected the claim that staking creates "new property," asserting that tax liability arises immediately. This closely-watched case could set a precedent for taxing staking rewards across proof-of-stake blockchains in the U.S.

XRP Adoption Surges, Outpaces Bitcoin and Ethereum in Wallet Growth

Recent on-chain data from Santiment reveals a significant rise in XRP wallet growth, surpassing major networks like Bitcoin and Ethereum. XRP's “Total Amount of Holders,” which tracks non-zero balance addresses, skyrocketed after October 18, with a 28% increase over two years. 
This rapid adoption built a strong foundation for XRP, even before its price rally began in mid-November. While Tether leads with a 66% growth in holders, XRP now boasts 5.75 million wallets, reflecting rising investor interest. Currently, XRP is trading at $2.17, mirroring the broader crypto market's recent slowdown.

Hyperliquid Shuts Down Hack Rumors, HYPE Bounces Back

Drama hit Hyperliquid after allegations tied to DPRK wallets stirred chaos, pulling $194M in withdrawals and tanking the HYPE token 25%.
Security OG Taylor Monahan flagged $700K in liquidations as “DPRK tests,” but Hyperliquid clapped back: “No exploits. All funds safe.”
Despite the turbulence, HYPE rebounded to $27, and Hyperliquid’s still holding strong with 55% of on-chain perpetual futures volume.

Winna Bags $15M to Go Big on Crypto Gaming

Blockchain gambling company Winna just locked in $15M in funding.
Launched mid-2024, they’re already flexing with 10,000+ active players and a game lineup built for the blockchain era - think Mines, Roulette, and PvP games, all with a slick 1% house edge.
Fast payouts, provably fair systems, and no hoops to jump through. Plus, a VIP program that’s vegasesque, led by casino legends from Vegas.
Crypto and gaming just got a new power player.

ETH ETF Bags 1M ETH - Altseason Gearing Up?

BlackRock’s Ethereum ETF just crossed 1M ETH, flexing serious institutional muscle while ETH chills under $4K resistance.

US spot ETH ETFs now hold $12.15B - almost 3% of Ethereum’s market cap. Inflows are climbing, even as the crypto market took a $500B dip this week.

With Ethereum’s track record of post-election rallies, could this be the spark for the next ATH? Can't bet against it.

Uniswap Integrates Blockaid for New Token Warning System as 60% of Tokens Created in 2024 Are Flagged

Uniswap has revealed that it will integrate Blockaid's on-chain detection system to boost security and avoid interactions with fraudulent tokens. This initiative comes in response to alarming statistics indicating that nearly 60% of tokens created in 2024 have been flagged as malicious. The new token warning system aims to provide users with essential protection against potential scams in decentralized trading, ensuring a safer trading environment.

Whale Address deposited 18.3M $USDC into Hyperliquid to buy HYPE
In the past 24 hours, a crypto whale deposited 18.3M USDC into the Hyperliquid platform to buy HYPE, signaling a strong interest in acquiring HYPE tokens.
So far, the whale has utilized 5.81M USDC from the deposit to purchase 210,420 HYPE tokens at an average price of $27.6 per token. This transaction highlights growing confidence in the HYPE ecosystem and the potential for further acquisitions as the remaining 12.49M USDC sits ready for action.

Trump’s Presidency Could Usher in a New Era for Crypto

As Donald Trump prepares for his second term in 2025, the crypto industry anticipates a shift towards a more favorable regulatory environment. Bitcoin recently surpassed $100,000, fueled by optimism over Trump’s pro-crypto stance and his plans to make the U.S. the “crypto capital of the planet.”

Key appointments, like Paul Atkins as SEC Chair, signal lighter regulation and support for innovation. Policies may include clearer guidelines, a national bitcoin reserve, and accelerated blockchain development. While challenges remain, Trump’s presidency could redefine the U.S. role in the global crypto landscape.

Ethereum’s Pectra Upgrade to Transform Staking in 2025

Ethereum’s Pectra upgrade, set for Q1 2025, will enhance ETH staking with faster onboarding, flexible limits, and greater autonomy. Key improvements include:

- Flexible Staking: EIP-7251 raises the staking cap to 2048 ETH per validator, while EIP-6110 cuts deposit recognition time to minutes.
- Auto-Compounding Rewards: Rewards can reinvest automatically, with reduced slashing penalties making staking safer.
- Operator Independence: EIP-7002 lets stakers exit without relying on third-party providers.

These changes simplify staking, improve scalability, and reduce network congestion while maintaining security and decentralization. Pectra is a leap forward for Ethereum’s Proof-of-Stake.

Weekly Crypto Market Insights: 23rd December 2024

Week in Review

- Donald Trump Appoints Bo Hines: Former President Donald Trump names Bo Hines as the head of the Presidential Council of Advisers for Digital Assets.

- Ripple Launches $RLUSD Stablecoin: Ripple officially unveils its stablecoin, $RLUSD.

- Bitcoin ETFs Surpass Gold ETFs: US Bitcoin ETFs have overtaken Gold ETFs in assets under management (AUM), flipping gold despite its 20-year head start.

- Cango Inc Enters Bitcoin Mining: Chinese NYSE-listed auto trading platform Cango Inc has quietly become a leading Bitcoin miner, matching the hashrate of MARA, the largest US miner.
Senator Cynthia Lummis Predicts 2025 for Crypto: US Senator Cynthia Lummis forecasts 2025 as a pivotal year for Bitcoin and digital assets.

- Spot Bitcoin and Ethereum Combo ETFs Approved: The SEC greenlights the first spot Bitcoin and Ethereum combo ETFs, introduced by Hashdex and Franklin Templeton.

- Binance.US Eyes USD Services Return: Binance.US plans to resume USD services by early 2025, citing anticipated easing of US crypto regulations.

- Deribit Partners with Paxos for $PAXG Trading: Deribit collaborates with Paxos to enable trading for Pax Gold ($PAXG), an ERC-20 token backed by physical gold stored in a London LBMA-certified vault.

Unichain’s public mainnet is expected to launch early 2025 Uniswap says

Unichain, a DeFi Layer 2 solution built on the OP Stack by Uniswap, is set to launch its public mainnet in early 2025. It has been operating on Ethereum’s Sepolia testnet since October, processing over 50 million transactions and deploying 4 million contracts, with 99% uptime.

From Jan. 6, 2025, Sepolia will undergo maintenance to activate permissionless fault proofs, which enable participants to verify and challenge invalid transactions, enhancing security. Following this, the mainnet will open to the public, allowing users to bridge funds and use Unichain apps.

Future updates include Flashblocks, reducing block times to 250 milliseconds for nearly instant transactions.

SOL Drops Below 180 USDT Amid Market Volatility

According to market data from CoinMarketCap, the cryptocurrency SOL has slipped below the 180 USDT mark, currently trading at 179.99 USDT. This represents a 24-hour decline of 1.77%.

The dip reflects ongoing market fluctuations impacting several digital assets. Analysts suggest that the downward trend in SOL may be influenced by broader concerns in the cryptocurrency market, including macroeconomic uncertainty and potential regulatory developments.

Investors are advised to monitor SOL’s performance closely, as the token has shown both resilience and significant volatility in recent months. It remains a focal point in the blockchain ecosystem, particularly for its role in powering the Solana network, known for its high-speed and low-cost transaction capabilities.

Italy Fines OpenAI $15.7 Million for Privacy Violations

The Italian Data Protection Authority (IDPA), also known as Garante, has fined OpenAI $15.7 million following an investigation into the data collection practices of its flagship AI model, ChatGPT. The agency also mandated a six-month public awareness campaign by OpenAI to address the issue.

In a statement released on December 20, the IDPA revealed that OpenAI failed to notify the agency about a data breach in March 2023. Additionally, the investigation found that OpenAI processed users' personal data to train the chatbot without establishing a "sufficient legal basis," violating transparency principles and failing to meet its obligations to provide users with relevant information.

Whales are accumulating $LINK!

Whales on the move! 🚨 Nine new wallets withdrew 362,380 $LINK ($8.19M) from Binance in 48 hours, signaling increased accumulation. Is a big $LINK play underway?

Address:
0xdA44049389F87c1170C5e7319c9eb93acDf83304
0xC10396589a40438CcdF48bA1b2061a6067DAa972
0x5199b3Ce02a912056ea8A460371aD83020693F6C
0x82f8434F9150A7B0d5826fe8dd238E2286635637
0xc11B99cc837773c16f899b061AB76F08723be436
0x285561adB42901089bc92967F5353AB2F28070a8
0x74ffb0c6e16A762A7278Ccab12AC4828661AEc15
0xAcdce15a583aC51e61dF6B4941bef8B9D4D178c5
0x479c94aa5a7EdDA457374827672Cb9f1bdB776CC

Trump Proposes Strategic Bitcoin Reserve to Tackle $35 Trillion Debt

Former President Donald Trump has suggested using the U.S.’s $20 billion in seized Bitcoin assets to establish a Strategic Bitcoin Reserve. He believes this could help address the $35 trillion national debt while strengthening the country’s cryptocurrency influence.

The proposal has sparked debate over holding Bitcoin for long-term gains versus selling it for immediate funds, highlighting Bitcoin’s rising role in global economic strategies.

What do you think about this proposal?

Hex Founder Richard Heart Added to Interpol's Red Notice and Europol's Most Wanted List

Interpol has issued a Red Notice for Hex founder Richard Heart, who faces allegations of tax fraud and assault. Europol has also placed him on Europe's Most Wanted fugitives list.

According to Europol, the assault involved "grabbing a 16-year-old victim by the hair, dragging them into a stairwell, and knocking them to the ground."

Hyperliquid reaches $13 billion in trading volume, with HYPE trading between $30 and $32. With a 316% year-to-date yield

Hyperliquid has achieved a record platform volume of $13 billion within 24 hours, marking a new all-time high for this decentralized exchange. The platform's token, HYPE, has demonstrated strong performance against major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Analysts have observed a consistent demand for HYPE over the past three days.

The Hyperliquid Assistance Fund has acquired 118,000 HYPE tokens for approximately $2.8 million, which averages around $24.30 per token. In total, the fund has accumulated 11,159,440 HYPE tokens for about $65 million, with an average purchase price of $5.85 per token. This investment has yielded a remarkable 316% year-to-date return as of December 19, 2024. Currently, HYPE is trading between $30 and $32, leading some analysts to suggest that it may be undervalued.

HYPE's market capitalization is estimated to be about one-third that of Binance Coin (BNB). Hyperliquid is projected to generate approximately $300 million in revenue in 2024, in stark contrast to Binance's forecast of $30 billion. Presently, Hyperliquid has around 300,000 users, whereas Binance boasts a user base of 300 million.$

Gabriel Hay and Gavin Mayo have been indicted for a $22 million NFT fraud scheme connected to a $20 million fraud.

Two men from Southern California, Gabriel Hay and Gavin Mayo, have been indicted for allegedly defrauding investors of over $22 million through a series of fraudulent NFT projects. This indictment is part of a larger investigation into cryptocurrency scams and includes charges of wire fraud.

The charges detail how the accused conducted 'rug pulls' in projects such as Vault of Gems, Faceless, and Clout Coin. The deceptive actions are said to have taken place from 2016 to 2021.

Additionally, nine individuals are implicated in related fraudulent claims for federal benefits programs intended for expensive medications, totaling around $20 million. This case is considered one of the largest NFT fraud schemes prosecuted to date.