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@onni

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Crypto market downturn continues since Fed’s hawkish 2025 rate cut signals The cryptocurrency market declined sharply, with the global market cap dropping 11.8% to $3.33 trillion following the U.S. Federal Reserve’s 25 basis point rate cut. Bitcoin fell over 10%, with analysts citing the Fed's hawkish stance and U.S. fiscal uncertainties as key factors. Analyst Aurelie Barthere sees support at $90,700–$91,000, describing the correction as "normal and healthy." Thursday marked significant ETF outflows, with $680 million exiting U.S. spot bitcoin ETFs. Fed Chair Jerome Powell’s signals of a slower pace of rate cuts and revised inflation projections added to market caution. A proposed U.S. bitcoin reserve by Senator Cynthia Lummis is under discussion but requires congressional approval.

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Here’s my Farcaster Wrapped ‘24! 🎉 Top engaged fam : @mobinaox, @neela, @esmeralda, @soudex, @juliettemeon.eth Frame built by @vidhatha

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Omni Network launches ‘Core’ mainnet to unify Ethereum’s fragmented rollup ecosystem Omni Network has launched its Omni Core mainnet to unify Ethereum's fragmented Layer 2 ecosystem, addressing the $58 billion in TVL scattered across 40+ networks. Leveraging “restaking” and cross-chain interoperability, Omni Core integrates a messaging protocol and bespoke EVM for seamless cross-rollup interactions. Initially supporting major Layer 2s like Arbitrum, Base, and Optimism, Omni aims to enable innovative tools like cross-rollup stablecoins and DeFi primitives. Built with the Octane framework for high throughput, the protocol is backed by $18M from investors such as Pantera Capital and Jump Crypto.

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Why is Solana (SOL) price up today? Solana (SOL) surged 6% to $230, recovering losses amid broader crypto market gains. Key drivers include the integration of ZK-rollups, enhancing privacy and scalability, and increasing onchain activity, with TVL rising 70% to $9.5 billion since November. Monthly economic activity hit $409 million in November, reflecting growing network adoption. SOL has gained 121% year-to-date, bolstered by demand from the $200-$213 support zone, though resistance at $230-$242 remains a challenge. Moving averages and robust fundamentals support continued momentum.

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Top Cryptocurrencies Advance; Bitcoin Tops $101,000 Bitcoin (BTC) surged above $101,000, gaining 5.1% as major cryptocurrencies advanced. The CoinDesk Market Index rose 6.3%, while Ethereum (ETH) and XRP climbed 5.1% and 6.2%, respectively. Solana (SOL) led with a 7.3% gain, while Cardano (ADA) jumped 10.9%. The crypto market's total value reached $3.62 trillion, despite a 38.2% drop in trading volume to $230.87 billion. Treasury yields also rose, with the 10-year yield hitting 4.269%.

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"Degen Stast" Frame by @jhonc.eth

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Technical Analysis Puts XRP Price Above $5 In Next 3 Days, Whales Buy $288 Worth Of XRP XRP's price is consolidating after a 460% surge, dropping to $2.22 on December 5, as whales accumulated over 120M tokens during the dip. Technical analysis suggests a potential breakout to $5.26 by December 11, supported by breaching key Fibonacci retracement levels. Historical patterns indicate swift rallies once resistance is surpassed, as seen during its last breakout. Whale accumulation, totaling $288M, has bolstered liquidity and prevented further declines. Currently trading at $2.54, XRP is poised for a rapid rally toward its predicted target.

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Bitcoin On Track To Replace Gold In 10 Years, Trading Firm Predicts Bitcoin recently broke the $100,000 mark, peaking at $104,088 on Binance, fueling optimism about its potential to replace gold as a store of value. Bernstein analysts predict BTC will become a staple in institutional portfolios and corporate treasuries within a decade. YTD, Bitcoin is up 141%, with significant gains following pro-crypto candidate Donald Trump's election win, driving the crypto market cap to $3.9 trillion. Analysts expect BTC could reach $200,000 by 2025, citing mainstream adoption and limited supply as key drivers. Corporate interest, such as Hut 8's Bitcoin reserve plans, underscores its rising appeal. Currently, BTC trades at $103,172, up 7.9% in 24 hours.

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Sotheby’s VP’s memecoin allows trader to make $1M in 30 mins Michael Bouhanna, Sotheby’s VP, launched a new Solana-based memecoin, Nothing (VOID), enabling a trader to turn $8,200 into over $1 million in just 30 minutes. Previously, Bouhanna faced insider trading allegations over his first memecoin, Comedian (BAN), which was inspired by a $6-million banana artwork. Blockchain analytics firm Lookonchain accused him of using insider wallets to profit, but Bouhanna denied the claims, calling BAN a personal hobby unrelated to Sotheby’s. He clarified that BAN’s association with Sotheby’s was unintentional and unapproved. Despite his defenses, crypto community members criticized Bouhanna for his memecoin ventures, questioning the ethics of his actions.

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Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff Analyst EGRAG Crypto predicts a $627 billion inflow into altcoins during the anticipated altseason, driven by a projected 33% decline in Bitcoin dominance based on Volume Range Visible Profile (VRVP) analysis. Bitcoin dominance is nearing resistance levels, signaling a shift in market interest toward altcoins. Ethereum's performance is pivotal, with a November close above 0.035 on the ETH/BTC chart likely indicating a bullish December for altcoins. Currently, the altcoin market cap is $1.39 trillion, representing 41.4% of the total crypto market. Analysts highlight this shift as a potential major price explosion for altcoins.

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Crypto in 2024 Reaches $3 Trillion Market Cap, Embraced by 72% of Retail Investors Crypto has evolved into a recognized asset class with over 20,000 cryptocurrencies and a market cap exceeding $3 trillion, attracting institutional and retail investors. A survey shows 64% of retail and 54% of institutional investors plan to increase allocations, with retail investors critical to mainstream adoption. However, barriers like onboarding complexity and lack of accessible education hinder broader participation. GT Protocol simplifies crypto investing using an AI-driven chatbot for non-custodial interactions with exchanges, DeFi, and NFTs, offering portfolio management through conversational commands. Its revenue model aligns with user success, enhancing confidence and accessibility in crypto investments.

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Marketing shouldn’t be the scapegoat in crypto Samantha Yap emphasizes that effective marketing in crypto should focus on transparency, education, and user trust rather than hype. Many projects fail not due to marketing but due to poor fundamentals like lack of product-market fit or technical flaws. Successful examples, like Uniswap, address real user needs through innovation and clear communication. Educational marketing, such as Coinbase’s reports, helps users make informed decisions, fostering industry maturity. Marketing exposes weaknesses rather than causing failures, acting as a natural selection process. To sustain growth, crypto projects must prioritize transparency, consistent communication, and responsible marketing.

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Claiming my @socialtoken airdrop and crediting @alik.eth with my social airdrop for being a good friend

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Crypto Mixer Helix Founder Sentenced For Laundering $300 Million In Bitcoin Larry Dean Harmon, an Ohio resident, was sentenced to three years in prison for operating the darknet crypto mixer Helix, which laundered over $300 million in Bitcoin for drug markets between 2014 and 2017. In addition to prison time, Harmon will serve three years of supervised release and forfeit assets worth at least $400 million, including cryptocurrencies and real estate. Helix processed 354,468 BTCs by integrating with darknet markets to facilitate illicit transactions. Harmon’s cooperation with authorities and his early closure of Helix earned him a lighter sentence than initially anticipated.

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Double Digit Prices Surges From These Altcoins as Bitcoin (BTC) Reclaims $91K (Market Watch) Bitcoin has surged past $91,000, recovering from a brief drop below $87,000, and its market cap now exceeds $1.8 trillion. Altcoins like XRP, ADA, PEPE, and others have seen double-digit gains, with ADA soaring by over 20%. Larger-cap altcoins, including ETH and BNB, experienced more modest increases of up to 6%. On-chain data indicates the bull run might continue, supported by stablecoin inflows and declining BTC reserves on exchanges. The total cryptocurrency market cap has climbed over $100 billion, reaching $3.16 trillion.

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Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs) Polymarket, a crypto prediction market platform, is under investigation by the DOJ for allegedly allowing U.S. users to trade, potentially breaching a 2022 CFTC settlement that prohibited this. Despite blocking U.S. IP addresses, U.S. users reportedly bypass restrictions with VPNs. Experts suggest more stringent measures, like KYC, GPS tracking, and monitoring VPN usage, though these introduce privacy and practicality challenges. The case underscores broader regulatory issues in crypto, especially regarding U.S. jurisdiction and compliance with local laws. Polymarket's Panamanian registration does not exempt it from U.S. law if it affects U.S. residents.

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Bitcoin Price 12% Away From $100K, Bullish Odds on Polymarket Soar Bitcoin has surged past $88,000, gaining 10.6% in the last 24 hours and hitting consecutive all-time highs during this price discovery phase. The recent victory of Donald Trump in the 2024 U.S. Presidential Elections has fueled bullish predictions, with CNBC analysts projecting a $100K target by year-end. Polymarket shows rising odds for this milestone, reflecting strong market confidence. Meanwhile, derivatives liquidations have exceeded $120 million in just four hours, with $109 million from overleveraged short positions as the price climbs relentlessly.

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CryptoBox Announces AI-Powered Liquidity Staking Solutions: Best Crypto Staking Platform CryptoBox, a leading cryptocurrency staking platform, has integrated AI-powered solutions to optimize staking returns and liquidity management for users of all levels. The platform now offers tailored, automated staking plans that leverage real-time market insights, enhancing yield potential while managing risks. Key features include high-profit potential, advanced security, and user-friendly options with flexible staking plans. New users receive a $100 trial bonus and 4% referral rewards, promoting both engagement and growth. CryptoBox's AI-enhanced staking aims to provide a secure and profitable experience for its 500,000+ active users.

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Bitcoin Poised for $100K, Trump Win May Be Short-Term Catalyst, Says Analyst Bitcoin analysts predict a strong chance for the cryptocurrency to reach $100,000, with the upcoming U.S. presidential election potentially playing a role in its short-term momentum. A Trump win might accelerate BTC's rise due to anticipated favorable regulatory changes, while a Kamala Harris victory could introduce a temporary dip from cautious investor sentiment. However, analysts agree that the election's impact will mainly influence the short term, as Bitcoin’s long-term upward trend appears secure. Historically, BTC has rallied post-election, regardless of the winning party, and in 2024, it has already outperformed traditional assets significantly.

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