r90280790

@r90280790

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The global average internet penetration is approximately 67.5%, while digitalization has happened at lightspeed in the European Union, where 93.1% of households are connected to the internet. Far from slowing down, this trend seems to be picking up at pace and is now evolving toward its next milestone: Web3.

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As we rapidly approach the quarter-mark of the 21st century, it is hard to play down the effects of global digital migration on our lives. Many areas of life and society are conducted at least in part — and sometimes entirely — online.

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The Celsius native token (CEL) surged 350%, hitting $0.56 in September following the $2.5 billion repayment, but has since lost most of those gains, falling back below $0.20, down 97.5% from its all-time high at the time of writing.

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In late November, the lending firm said it would soon distribute an additional $127 million to creditors from its litigation recovery account.

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SOL’s price action in the daily timeframe has painted an inverted V-shaped pattern, as shown in the chart below. The supplier congestion zone between $215 and $230 is acting as an area of stiff resistance on the upside. Note that this is where the 50-day exponential moving average (EMA) currently sits.

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Additional data from Dune reveals a sharp reduction in Solana’s daily revenue, which currently stood at 5,391 SOL (~$1.13 million) on Dec. 18, down from a year-to-date high of 55,832 SOL (~12 million) on Nov. 23.

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This indicates suppressed network activity and less overall user interaction with the platform resulting in lower revenues from fees.

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The amount of daily transactions on the Solana blockchain has nearly halved since Nov. 20, as shown in the chart below.

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This is also evidenced by a decline in onchain activity within the Solana ecosystem, according to the data provided by Dune dashboard pump.fun. Today’s SOL price drop was preceded by a sharp drop in the number of network transactions.

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The declining TVL reflects traders’ fading interest and could be a sign that Solana struggles to attract new users despite its lower traction costs.

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Taking a closer look at Solana’s TVL decrease, several layer 2 protocols, such as Jito and Sanctum, have posted substantial losses in total value locked over the last seven days, contributing to the drop in the value of the underlying network.

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This drop in TVL has occurred in tandem with the decrease in SOL’s price, which is more than 9% down over the same period.

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Solana’s total value locked (TVL) has been in downwtrend over the last week. Data from DefilLlama shows that Solana’s TVL has fallen by 4.5% over the last seven days, from $9.37 billion on Dec. 12 to $8.9 billion at the time of publication.

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Powell’s comments shook the prices across the market, which have rallied sharply along with Bitcoin since Donald Trump’s victory in Nov. 5 US Presidential Election in prospects of a more crypto-friendly administration.

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Acting Deputy Assistant Attorney General Stuart Goldberg of the Justice Department’s Tax Division noted that Ahlgren’s decision to underreport crypto capital gains and attempt to conceal the transfer of funds “earned him a two-year sentence.”

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Additionally, Ahlgren did not report more than $650,000 worth of Bitcoin sales in 2018 and 2019. According to the DOJ, he attempted to conceal the movement of his funds through multiple wallet transfers, crypto mixers and in-person cash transactions. The DOJ added:

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Authorities found discrepancies in Ahlgren’s 2017 federal income tax return, the report noted:

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Launched in 2015, BitOasis is a pioneer in the region’s cryptocurrency ecosystem and is focused on servicing crypto investors in the Middle East and North Africa (MENA) region.

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In 2023, VARA briefly suspended BitOasis’ license for not meeting mandated conditions within the timeframes set out by the authority.

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BitOasis’ past regulatory approvals in Dubai and Bahrain have allowed the company to provide virtual assets broker-dealer services to its users, the representative noted.

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