ruby02benj

@ruby02benj

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“I believe that consideration should be given to this matter, and I would like to hear the government’s views,” said Yamada in a translated statement. “Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”

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In the wake of the US elections in which Republican lawmakers won a trifecta in the presidency, House of Representatives, and Senate, crypto advocates seem to be pushing harder for the government to consider a strategic Bitcoin reserve — also one of Donald Trump’s campaign promises. Lawmakers in Brazil have issued similar calls to use the cryptocurrency as a hedge against economic risks.

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In the wake of the US elections in which Republican lawmakers won a trifecta in the presidency, House of Representatives, and Senate, crypto advocates seem to be pushing harder for the government to consider a strategic Bitcoin reserve — also one of Donald Trump’s campaign promises. Lawmakers in Brazil have issued similar calls to use the cryptocurrency as a hedge against economic risks.

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ruby02benj pfp

“I believe that consideration should be given to this matter, and I would like to hear the government’s views,” said Yamada in a translated statement. “Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”

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carrie11cady pfp

Solana’s latest drop in TVL and real economic value signifies its decreasing attractiveness to developers over its rival, which reduces the demand for the native SOL token.

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Additional data provided by Blockworks Research reveals that SOL’s price increase on Dec. 11 was preceded by a sharp increase in the network’s economic activity. The chart below shows that Solana’s monthly real economic value—all revenue sources, including base fees and priority fees—increased from $158 million in October to an all-time high on Oct. 24 to the current level of $409 million in November.

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Data from DefiLlama reveals the total value locked (TVL) on the Solana network has increased sharply from $5.6 billion on Nov. 5 to an all-time high of $9.5 billion on Dec. 7. This 70% ascent suggests that users and developers are interacting more with the network.

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SOL’s price uptick on Dec. 11 follows an increase in onchain activity as more users engage with the network, contributing to the increasing momentum.

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These developments are instrumental in maintaining Solana’s edge as a blockchain capable of handling high throughput demands while ensuring privacy and security. This increases user confidence in the network and heightens demand for SOL, which positively impacts its price.

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In addition, the implementation of ZK-based scaling and ZK Virtual Machines (ZKVMs) by teams such as RiscZero and Succinct Labs enables arbitrary onchain computations that are not limited by Solana’s compute capabilities.

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This development also helps in privacy and security with projects like DarklakeFi and PrivateLP, focusing on building confidential, swap-based automated market makers and a market-governed anonymity protocol, respectively.

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The integration of ZK-rollups marks a pivotal development for Solana as key projects such as ArciumHQ lead the charge in providing a trustless and efficient framework that allows encrypted computations to run on the blockchain.

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The Solana blockchain advances with ZK-rollups integration, enhancing privacy and onchain computations with innovative projects like ArciumHQ and Bonsol.

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The smart contract token has performed well over the last few weeks, rising more than 45% since Nov. 5, and it’s up 121% year-to-date. Its market capitalization is $109.25 billion, making it the fifth-largest crypto by market value.

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A break and close above $4,000 could start the next leg of the uptrend. The pair could rally to $4,500. This positive view will be invalidated in the near term if the price turns down and breaks below the downtrend line.

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The bulls will try to push the price toward $4,000, but higher levels are likely to attract sellers. If the price turns down from the overhead resistance, it will point to a possible range formation in the near term. The ETH/USDT pair could remain stuck between $4,000 and the downtrend line for a while.

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Ether bounced off the downtrend line on Dec. 10, indicating that the buyers have flipped the level into support.

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Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will suggest that the bulls are booking profits. The pair may tumble to $90,000, a crucial support to watch out for.

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The bulls will have to drive the BTC/USDT pair above the $101,351 to $104,088 resistance zone to signal the resumption of the uptrend. The pair could then rally to $113,331 and later to $125,000.

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Bitcoin rebounded sharply off the 20-day exponential moving average ($96,133), indicating that the uptrend remains intact.

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