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Solana Price Forecast: Is a New All-Time High on the Horizon?

May 17, 2025, 3:48 pm

The current atmosphere across the crypto landscape remains buoyant, defying prior concerns of a major correction. Despite the market’s significant upswing in recent weeks, profit-taking has not yet triggered a sustained downturn. Instead, large-cap cryptocurrencies—Bitcoin, Ethereum, and notably Solana ($SOL)—are holding firm, suggesting that a second leg upward may be on the table. Among these, Solana is garnering special attention due to its technical structure and a flurry of supporting fundamentals. Could this be the prelude to a breakout beyond its previous all-time high?

Technical Analysis: Momentum Building Beneath the Surface

Solana has historically exhibited greater volatility than many of its Layer-1 peers, and the first half of 2024 was no exception. After hitting a record high of $294 in January, macroeconomic headwinds and concerns surrounding U.S. trade tariffs triggered a rapid 70% drawdown, with $SOL bottoming out around $95. However, what initially looked like a structural breakdown has, in retrospect, proven to be a period of market recalibration.

Over the past week, $SOL has surged with conviction, slicing through several critical resistance levels. Most notably, the token decisively breached its 200-day Exponential Moving Average (EMA), which had been serving as dynamic resistance near the $162 mark. From a technical standpoint, the 200 EMA is widely regarded as a long-term trend determinant. Not only was this level surpassed, but Solana also logged multiple daily closes above it—a strong signal that bullish sentiment has returned with strength.

Even more compelling is the break through the previous horizontal resistance at $162, a level that had repelled upward attempts multiple times. This clean breach set the stage for an extension to $180, where Solana encountered another resistance layer. While the price was initially rejected at this zone, consolidation beneath resistance is often seen as constructive. A successful push beyond $180 would open the path toward the $260 region—historically a low-friction zone with minimal overhead resistance. From there, only a modest 15% move would separate $SOL from revisiting—and potentially exceeding—its previous high of $294.

Macro Fundamentals: Network Dynamics Driving Adoption

The resurgence in Solana’s valuation is not purely technical. Fundamental metrics are increasingly aligning with bullish momentum. On-chain activity across the Solana ecosystem has surged over the past month, driven in part by the explosive growth of new tokens and decentralized applications leveraging Solana’s infrastructure. Projects like $MOODENG and $GOAT, among others, have experienced substantial user adoption, highlighting renewed developer interest and capital inflows.

Meanwhile, broader geopolitical narratives are turning in Solana’s favor. Recent remarks from former U.S. President Donald Trump, who emphasized the need to support U.S.-based blockchain projects, included a nod to Solana. Whether symbolic or strategic, such comments have a measurable effect on market psychology and institutional sentiment. The anticipation surrounding multiple spot Solana Exchange-Traded Funds (ETFs) awaiting approval by the U.S. Securities and Exchange Commission (SEC) only adds fuel to the speculative fire.

The Layer-2 Factor: Solana’s Scalability Imperative

Despite Solana’s technological prowess—characterized by its high throughput and low transaction costs—the network has occasionally suffered under peak load. Previous high-traffic periods have exposed vulnerabilities, such as transaction failures and temporary network outages. These incidents have led critics to question Solana’s long-term scalability, especially in comparison to Ethereum’s increasingly modular roadmap.

One promising development addressing these concerns is the emergence of Solana-compatible Layer-2 solutions. These secondary execution environments aim to offload transaction volume from the main chain, thereby improving efficiency and reducing the likelihood of congestion. With the launch of Solaxy, Solana enters a new architectural phase. Though the broader implications of Layer-2 solutions on Solana remain to be fully tested, the initiative demonstrates a clear acknowledgment of network limitations and a roadmap for sustainable scaling.

A Comparative Look: Solana vs. Broader Crypto Trends

In comparison to its Layer-1 peers, Solana has shown a capacity for rapid recovery. While Ethereum’s upgrades often come with long rollout timelines and Bitcoin remains constrained by its simplicity, Solana’s nimbleness allows it to iterate more quickly. This flexibility, coupled with increasing institutional interest, places Solana in a strong position as crypto markets continue to mature.

Furthermore, the structural underpinnings of Solana’s proof-of-history consensus mechanism have shown resilience in recent months. Validator participation is up, block production remains consistent, and transaction fees are holding at acceptable levels—even amid surging network usage. With an active developer community and an increasingly robust DeFi and NFT landscape, Solana is no longer just a theoretical Ethereum alternative—it’s maturing into a core infrastructure layer of the blockchain economy.

Price Outlook: Probability of a Breakout

Looking ahead, a sustained move above $180 would mark a significant inflection point. Such a breakout would signal renewed price discovery and could accelerate momentum toward $260 and, ultimately, the $294–$300 range. Should macro conditions remain favorable and ETF approvals materialize, a parabolic extension is plausible.

On the downside, the $162 zone now serves as strong support. A breakdown below this level would indicate that the rally may be losing steam and could prompt a reevaluation of near-term price targets. However, given the current confluence of technical strength and fundamental catalysts, the probability of upward continuation appears higher than that of significant retracement.

Solana as a Strategic Blockchain Choice

While Solana’s price movements and network metrics tell one story, its growing recognition as a foundational platform for next-generation applications paints another. Increasingly, mission-critical projects are choosing to deploy on Solana—not merely because of its transaction speed or low fees, but because of its architectural orientation toward real-time data applications, NFTs, DeFi, and now even energy-linked assets.

Among the most notable entrants is the Neutrino® Energy Group, which has selected the Solana blockchain for the release of its Neutrino Energy Access Token (NET8). This decision underscores Solana’s potential as more than a cryptocurrency—it affirms its status as a robust, industrial-grade blockchain ecosystem capable of supporting projects at the intersection of energy, AI, and digital finance.

The NET8 Token: Utility with a Purpose

The NET8 token is not merely another digital asset; it represents a gateway to democratized access to clean, off-grid energy powered by neutrinovoltaic systems. Developed by the Neutrino® Energy Group, NET8 is tied to the energy output of devices like the Neutrino Power Cube, a revolutionary solid-state generator that operates independently of solar, wind, or fossil fuels. Each token is underpinned by quantifiable energy production capacity, offering real-world utility within and beyond the digital ecosystem.

By choosing to build Neutrino Energy Access Token (NET8) on Solana, the Neutrino® Energy Group leverages one of the fastest, most developer-friendly blockchains in existence—ensuring low-latency, scalable transactions for energy users and contributors alike. More importantly, the integration of such a token within the Solana ecosystem introduces a novel dimension: energy as a decentralized asset class.

This move is highly likely to broaden Solana’s visibility and appeal, particularly as sectors like clean energy, carbon offsetting, and infrastructure tokenization converge with blockchain technology. It also reinforces Solana’s growing relevance in cross-sectoral innovation, showcasing how its infrastructure can enable real-world applications beyond finance and speculation.

Looking Ahead: Charting the Next Move for Solana

As we move through June, Solana remains one of the most closely watched digital assets in the market. With its current trajectory, strong fundamentals, and increasing adoption from high-impact sectors, the probability of a breakout past previous highs is rising. Technical support is aligning with sentiment, while institutional and retail interest continue to build.

Whether the milestone of $300 is breached in June or shortly after, the long-term outlook for Solana as a blockchain platform remains robust. Its ability to host high-utility projects like NET8 only strengthens its case as a foundational layer for the next generation of tokenized services.

In the end, Solana’s story is not just about speculative gains—it is about the evolution of blockchain utility. And with every new token like NET8 that joins its ecosystem, Solana inches closer to that future.

Note: Participation in $SOL, NET8 or any token offering carries inherent risk. Always conduct thorough research and understand your local regulations before engaging with blockchain assets. This content is for informational purposes only and not a recommendation to buy, sell, or hold any asset. Published in collaboration with RKX Advertising, specialists in video marketing and SEO strategy.

Supreme Court Compares Bitcoin Trading to Refined Hawala Business in India

May 6, 2025, 3:23 am

The Supreme Court on Monday told that dealing with Bitcoin in India is similar to “dealing with a sophisticated form of Hawala business” as it ruefully expressed the fact that the Centre has thus far not presented a clear regimen on regulating virtual currency.

Observations of Supreme Court on Bitcoin Trading in India

Justices Surya Kant and N Kotiswar Singh made these observations while disposing of Shailesh Babulal Bhatt’s bail application, who the police had arrested for suspected illegal trade in Bitcoins.

The bench added that two years ago, while hearing a case pertaining to Bitcoin trade, it had requested the Centre to inform the court regarding the policy regime on virtual currency trade, but so far, it has not received any response.

Attorney General’s Submission on Bitcoin Trading

Attorney General senior advocate Mukul Rohatgi, representing Bhatt, argued that Bitcoin trading is not prohibited in India after the Supreme Court canceled a Reserve Bank of India circular, and that his client was arrested illegally.

Justice Surya Kant informed Rohatgi that while he himself does not know much about Bitcoin, the court has been explaining to the Centre that if there is a regulatory framework, then there will be no issue.

“All I understand is that there are some genuine Bitcoin and some are fake Bitcoin,” Justice Surya Kant said and told Rohatgi, “You see, trading in Bitcoin in India is like dealing with a refined way of Hawala business. There are no regulations at present.” Rohatgi said that Bitcoin has enormous value and one can walk into a showroom in a foreign country with just one bitcoin and buy a car.

“I checked on Sunday, the value of one Bitcoin was Rs 82 lakh,” Rohatgi said, adding that he too does not understand much about the trade.

ED’s Counter and Hearing Schedule of Supreme Court

Additional Solicitor General Aishwarya Bhati, who represented the Gujarat government and the Enforcement Directorate, informed the court that they would like to submit a detailed counter to the bail application because it was not just about the Bitcoin trade.

The court granted 10 days to the state and the ED to file its reply and listed it for hearing on May 19.

Bhatt has alleged that he was taken into custody by the police on August 14, last year, and that he has been in jail since. He had petitioned against the February 25 order of the Gujarat High Court rejecting his application for bail in the case.

Centre’s Position on Cryptocurrency Regulation

The Centre had told the highest court in January last year that it had still not decided upon a mechanism to control cryptocurrencies and actually investigate offences related to them.

On February 25, 2022, the Supreme Court requested the Centre to clarify its position on whether the trade in cryptocurrency using Bitcoin or any other similar currency is legal in India or not.

The Supreme Court was hearing a case pertaining to the quashing of several FIRs filed against a person for allegedly cheating investors all over India by luring them to trade in Bitcoin and promising them with good returns.

Nasdaq Falls 12%: Trump’s Return Fuels Inflation and Trade Fears

April 1, 2025, 6:12 pm

Since Donald Trump’s return to the White House, the Nasdaq has dipped 12.44%. The S&P 500 fell 7.23%, and Bitcoin dropped 21%. Increasing inflation and uncertainty about Trump’s trade policies have unnerved investors, sending the Nasdaq into a tailspin.

Nasdaq Experiences a Harsh Plunge: What’s Driving the Drop?

The Nasdaq Composite has experienced the steepest decline among the major indices, declining 12.44% since Trump took office in January. The Nasdaq closed at 12,799.29 on March 31, down from 19,756.78 on January 21 — a day after Trump’s inauguration. Although other major indices such as the S&P 500 and Dow Jones declined, the Nasdaq, which is heavily weighted in tech, has been most susceptible to inflation concerns and Trump’s unpredictable trade policies.

Investors at first received Trump’s return warmly with hopes of a pro-business, low-tax setup. However, increased inflation, supply chain disturbance, and trepidation around a trade war soon took a backseat to such expectations. The tech world, particularly the businesses in semiconductors, e-commerce, and software, has hit its worst with valuations significantly declining. Trump’s trade orientation and tariff scares are also worrisome to investors, increasing pressure on the market further.

Analysts explain that Trump policies might be fueling the aggravation of challenges tech firms had been experiencing through supply chain concerns, increased costs of raw materials, and squeezing labor markets. The mix of increased production prices and political insecurity has driven the downturn.

Cryptocurrency Market Bleeds Due to Volatility

Cryptocurrencies, the shining star of Trump’s business-friendly policy, have also not escaped. Bitcoin hit a record high of $106,000 after Trump’s comeback but has since fallen 21.2% to around $83,400. Ethereum has fallen 43.28%, from $3,269.74 to $1,854.51 during the same timeframe.

The crypto crash is part of a broader pattern of market flux. With rising fear of inflation and uncertain trade policy, investors are withdrawing from volatile assets such as stocks and cryptocurrencies. Instead, they are transferring to secure assets such as government bonds, thereby infusing even more volatility in global markets. Experts point out that together, increasing inflation and trade uncertainty might prolong the decline in the market, making even conventional stocks and digital currencies susceptible.

20-Year-Old Behind $230M Bitcoin Heist Bought 30 Luxury Cars, Gave Influencers Hermès Bags

March 12, 2025, 3:27 pm

A U.S. court has scheduled the trial of Malone Lam, a 20-year-old Singaporean charged with orchestrating one of America’s biggest-ever cryptocurrency heists. Lam, who is accused of stealing more than $230 million in Bitcoin, will be tried in Washington, DC, on October 6. Based on current market prices, the 4,100 Bitcoins that he stole are worth more than $450 million. Lam can be sentenced to 20 years in prison if convicted.

Luxurious Champagne, Ferraris, and Gifts

Prior to his September 2024 arrest, Lam had spent his ill-gotten wealth extravagantly. Prosecutors allege that he spent as much as $500,000 each night at clubs in Los Angeles and Miami, withcurring lavish charges such as $72,000 for 48 bottles of champagne and $38,500 for 55 bottles of Grey Goose vodka. One of his invoices reportedly totaled $569,528.39.

His extravagant lifestyle didn’t stop at clubbing. Lam is said to have bought more than 30 luxury cars, including bespoke Lamborghinis, Ferraris, and Porsches. These included a Pagani Huayra worth $3.8 million and a Lamborghini Revuelto that cost more than $1 million. When arrested, his co-accused, 21-year-old Jeandiel Serrano, was sporting a $500,000 watch, while Lam himself had in his possession a $2 million timepiece.

Lam’s social media behavior exposed him to giving Hermès Birkin handbags valued more than $20,000 each to models and influencers at social gatherings. His excessive spending not only caught the eyes of law enforcement authorities but also earned him the attention of criminals. Lam’s parents were reportedly kidnapped in August 2024 in a case related to his new wealth.

The indictment charges Lam and Serrano with posing as Google technical support staff to trick a wealthy American cryptocurrency investor. They employed social engineering methods to obtain the victim’s accounts, transferring the 4,100 Bitcoin to their own wallets. To cover up stolen funds, they employed advanced methods of money laundering, such as crypto mixers, peel chains, and VPNs.

Market Shock: Bitcoin Dips Under $85K Amid Rising Trade War Fears And US Crypto Reserve Skepticism

March 4, 2025, 8:58 am

Bitcoin, the world’s largest cryptocurrency, saw a dramatic decline of 9.47% on Monday, March 3, dropping to $85,321.69 as investors reacted to rising concerns over an escalating trade war and uncertainty surrounding a proposed US cryptocurrency reserve.

Market Sell-Off and Investor Panic

The sharp drop in Bitcoin’s value occurred as a widespread sell-off sent shockwaves throughout the digital asset market, putting over a trillion dollars of total market valuation at risk. By Tuesday morning (March 4) IST, Bitcoin’s price had further declined to $83,165.06. The sell-off was not limited to Bitcoin—Ether, XRP, Cardano, and Solana also experienced significant declines, with Ether falling more than 15% and XRP, Cardano, and Solana dropping nearly 20%.

The Reserve Riddle

The market turmoil began after a brief surge in digital asset prices when former President Donald Trump proposed the creation of a national strategic cryptocurrency reserve. The plan would involve the government stockpiling digital assets, particularly those seized in legal actions or linked to sanctioned entities. However, skepticism quickly spread among investors who questioned the feasibility of such a reserve gaining congressional approval. “Everyone started buying, then wondered if it was really going to happen,” noted Adam Button, managing director at Forexlive. He emphasized that while Trump had named potential reserve assets including Bitcoin, Ether, XRP, Cardano, and Solana, the idea remains distant from becoming a legislative reality.

Trade War Tensions Exacerbate Market Uncertainty

Further compounding the market’s woes were confirmation of 25% tariffs on all imports from Mexico and Canada by Trump, sparking threats of retaliatory measures from both nations. Analysts believe that these trade tensions, combined with growing concerns over slowing US economic growth, contributed to an overall risk-averse sentiment among investors, accelerating the sell-off across the cryptocurrency market.

Industry Opinions and Future Outlook

In light of the uncertainties, some industry leaders have expressed doubts about the proposed reserve’s structure. Coinbase CEO Brian Armstrong suggested that limiting the reserve to Bitcoin might be the best approach, calling it “the simplest” option, and comparing it to gold in terms of stability. Meanwhile, experts continue to monitor both the trade war developments and legislative hurdles that could impact the future of digital asset regulation in the United States.

Bitcoin and US Stocks Are Falling Under Trump – Here’s What’s Happening

March 1, 2025, 11:50 pm

Since US President Donald Trump was inaugurated on January 20, 2025, Bitcoin and stock markets have suffered tremendous losses. Even with initial optimism regarding Trump’s crypto-friendly and business-friendly policies, the financial markets have not performed as expected during the first two months of his administration.

All of the key US stock indexes have registered losses in 2025, with the Nasdaq declining more than 1% since Trump took office, CNN reports. Weakening consumer confidence and investor worries about inflation have driven the decline.

Inflation Woes and Consumer Confidence Slump

One of the key drivers of the downward trend in the stock market is inflation concerns. The Conference Board consumer confidence index fell by its largest amount in February since August 2021. The decreased value has increased inflation fears even further, further affecting investor morale.

Further, a worrying consumer confidence survey has taken the Fear & Greed Index to the extreme fear region for the first time since December 2024. This trend towards caution has had an impact on investment strategy, with most investors looking towards safer assets such as government bonds.

Bitcoin Takes a Hit Amid Market Volatility

Bitcoin, which enjoyed a boom as Trump took the oath of office, has struggled sharply. After hitting a peak of $106,000, the cryptocurrency plunged by about 16% in the last month to trade near $88,000. The decline is due to increasing volatility in the crypto space as investors struggle with economic uncertainty.

Adding further to market anxieties, retail behemoth Walmart just issued a warning of diminished sales growth in 2025. The warning has ramped up fears of an economic slowdown, placing added pressure on a soft market environment.

Global Markets Remain Resilient

While US markets languish, global markets have demonstrated strength. Europe’s STOXX 600 Index has climbed almost 10% in 2025, with Chinese stocks having eclipsed those of the US.

CNN reports that analysts at Goldman Sachs said China’s tech industry has grown, especially since the introduction of DeepSeek’s LLM. European technology companies have, on the other hand, benefited from the constant happenings in Ukraine, hence performing well in the market.

Tech Stocks Face Pressure

Technology shares, which powered market increases in the past few years, have been weakening. Big players such as Nvidia, Palantir, and Tesla have not escaped the recent sell-offs. Tesla’s market cap fell below $1 trillion after losing 8.4%, one of the worst-hit stocks.

While markets continue to respond to economic uncertainty, investors continue to be hesitant about the economy under Trump’s presidency.

Crypto Crash Alert: Bitcoin Crashes Below $80,000 Amid Massive Sell-Off

February 28, 2025, 9:53 am

Bitcoin fell beneath the $80,000 mark on Friday for the first time in over three months, as a wave of selling pressure in the cryptocurrency market intensified amid global economic uncertainties.

Sharp Decline from Record Highs

During early Asian trading, Bitcoin’s value dropped to as low as $79,525.88, marking its lowest point since November 11. This steep decline contrasts sharply with the recent record above $109,000 that the digital currency achieved just last month. The impressive rally initially followed then-candidate Donald Trump’s promises to ease regulations on digital assets and transform the United States into the crypto hub of the world.

Shifting Market Sentiment

Bitcoin’s surge was once in step with broader market advances. However, enthusiasm has since cooled, largely due to mounting concerns over shifting U.S. policies. The current administration has adopted a hardline stance—imposing tariffs, threatening a global trade war, and advocating for sweeping changes in tax and immigration policies. These measures have fueled fears of reignited inflation, potentially compelling the Federal Reserve to keep interest rates elevated for a longer period.

Global Economic Impact

The recent downturn in Bitcoin’s price mirrors volatility in global financial markets. As economic data points to a slowdown in the U.S. economy, investors are increasingly cautious. The evolving regulatory landscape and fiscal policies continue to play a crucial role in shaping market dynamics for cryptocurrencies and other risk assets.

Bitcoin’s fall below $80,000 underscores the fragility of the current market sentiment, with geopolitical and economic uncertainties casting long shadows over the cryptocurrency sector. As investors navigate these choppy waters, the interplay between digital asset regulation and global economic policies remains a key factor in determining the future trajectory of Bitcoin.

Bitcoin Falls Sharply: Why Is the Crypto Market Crashing Today?

February 25, 2025, 5:01 pm

On Monday, the cryptocurrency market dropped steeply as US President Donald Trump levied tariffs on China, Mexico, and Canada and more are forecast for European Union products. The increasing trade war caused almost $2 billion in crypto market liquidation, thereby quite affecting investor attitudes.

Major Losses Hit Bitcoin and Ethereum

At 13:58 IST, Bitcoin was trading at $95,300 its lowest level in three weeks, therefore 4.4 percent. This is its lowest level since $94,948.1 on January 14. Ethereum, on the other hand, slumped 17.8 percent to $2,556, its lowest since November 4.

Co-founder and CEO of Pi42, Avinash Shekhar, offered his view on the state, “The crypto market remains on a knife’s edge amid global policies and changing investor sentiments. The slip of Bitcoin below $100,000 is a quest for resilience, with key support levels at $95,000 and $90,000 that define the line of battle for bulls and bears.”

Why Is the Crypto Market Lower Today?

Growing worries about Trump’s tariff policies, which have exacerbated global economic risks, are to blame for the sell-off according to market experts. Shekhar clarified, “Donald Trump imposed tariffs on Canada, Mexico and China, which led to nearly $2 billion in liquidations in the crypto market as the whole crypto market is bleeding red.”

State CoinSwitch Markets Desk, “With US President Trump imposing massive tariffs on certain countries, the Asia open marks one of the largest liquidations in the crypto markets in recent times, with approximately $2 billion in liquidations in the last 12 hours alone.”

Effective Tuesday, Trump’s new direction of a 25 percent tariff on Canada and Mexico and a 10 percent duty on China has sparked fresh trade conflict. Furthermore, eroding investor trust, the ex-president also said he would soon implement tariffs on European Union goods.

Where will the crypto market go next?

Shekhar thinks macroeconomic factors and investor confidence will still affect digital asset trends. Bitcoin’s bouncing over $100,000 could restart market momentum, but prudence is still necessary. He said, “Crypt markets live on volatility; obviously, a bearish market today might set the scene for bullish signals tomorrow.”

Moreover, changing worldwide legal outlooks are causing India to rethink its attitude toward digital assets. In a recent interview, Economic Affairs Secretary Ajay Seth said, “India’s position cannot be unilateral; don’t believe in borders.”

$90,000 gives strong support to Bitcoin

CoinSwitch Markets Desk notes that with Bitcoin at the $90,000 level, there is strong support, making a more downward break unlikely particularly as gold prices reach an all-time high. BTC dominance has also jumped substantially to 61%, which suggests that investors are in a risk-off state of mind.

The next steps of the crypto market will depend on outside economic circumstances, investor confidence, and global regulatory changes as international trade policies keep changing.

Bitcoin Crashes Below Dollar 92,000 as Market Selloff Wipes Out Dollar 100 Billion

February 25, 2025, 12:24 pm

Bitcoin fell below $92,000 on Tuesday, nearing its lowest level since November. The drop wiped out over $100 billion from the crypto market within 24 hours, as investors reacted to rising economic uncertainty and geopolitical tensions.

Market Sentiment Weakens

The selloff in risk assets started last week, driven by concerns over the US economy. TradingView reported that the slide worsened due to President Donald Trump’s tariff threats and the Federal Reserve’s firm stance on interest rates. Additionally, a reported hack on cryptocurrency exchange ByBit further dampened investor confidence.

ByBit Hack Raises Security Concerns

Dubai-based crypto exchange ByBit confirmed that hackers breached its Ethereum cold wallet, an offline system meant for secure storage. The attackers stole large amounts of ether and quickly liquidated the tokens through multiple platforms.

Bitcoin’s Highs and Lows

Bitcoin’s recent decline follows an all-time high of nearly $110,000, which was fueled by Trump’s pro-crypto stance. In January, he pledged to make the US the “crypto capital of the planet,” promising regulatory clarity for digital assets.

MicroStrategy Expands Bitcoin Holdings

MicroStrategy, led by Michael Saylor, added 20,365 Bitcoin worth nearly $2 billion to its treasury. The company now holds 499,096 Bitcoin, valued at approximately $33.1 billion. Saylor, known for his bullish stance, once stated, “Every Bitcoin you don’t buy is gonna cost you $13 million.”

Global Crypto Regulations

Governments worldwide are shaping crypto policies. Malaysia and Thailand are considering regulatory changes, while Japan, South Korea, and Cambodia are slowly expanding adoption. Meanwhile, Hong Kong, Singapore, and Dubai have strengthened their positions as crypto hubs amid skepticism from US regulators under President Joe Biden.

Judge Denies Man’s $750M Bitcoin Retrieval In Landfill In UK, Crushing His Hopes

January 12, 2025, 11:13 pm

A judge has ruled against James Howells’ legal attempt to recover a hard drive containing Bitcoin worth nearly $750 million, which he accidentally discarded in a landfill 10 years ago. Howells, 39, lost the valuable cryptocurrency in Newport, Wales, back in 2013 when he mistakenly threw away the drive.

In response to this loss, Howells has been offering different ways to recover the lost fortune for the last ten years. His most recent proposal entailed funding the entire excavation process and giving 25% of the recovered Bitcoin to the Newport City Council. The council turned down his offer, and that is when he took the council to court.

On Thursday Circuit Commercial Judge Keyser threw Howells’ suit out of the window stating he had “no reasonable grounds to bring this case” and has “no real prospect of succeeding,” he further found that the ruling was in support of the Council’s case to have it concluded that the council was lawfully entitled to hard drive, having no right which Howells did.

Howells, visibly disappointed by the decision, called it a “kick in the teeth” and expressed frustration that he was not given the chance to present his case in court. He lamented that his efforts to engage with the Newport City Council over the years had been met with indifference. “It’s not about greed I’m willing to share the proceeds,” he said, stressing that his attempts had been motivated by a desire for a fair dialogue.

The ruling is the latest in Howells’ long-running battle to recover his lost cryptocurrency, with no end in sight.

Crypto Market Faces Correction: Bitcoin Nears $99,000, Altcoins Show Mixed Trends

December 9, 2024, 2:18 pm

The cryptocurrency market appears to be entering a phase of price correction after Bitcoin surpassed the $100,000 mark (approximately Rs. 84 lakh) last week. On Monday, December 9, Bitcoin recorded a slight gain of around 0.35 percent on both national and international exchanges. At the time of writing, Bitcoin (BTC) was trading at $99,395 (roughly Rs. 84.2 lakh) on global exchanges, according to CoinMarketCap. In contrast, Indian exchanges such as Giottus and CoinSwitch reported BTC trading at over $102,000 (approximately Rs. 86.7 lakh).

“As Bitcoin hovers near its all-time highs around the prestigious five-digit mark, bearish sentiment has begun to emerge. BTC experienced a two percent drop early this morning, with altcoins following suit. After more than 15 days of declining Bitcoin dominance (54.8 percent) and the onset of an altcoin rally, major altcoins seem to be taking a breather as the new week begins,” noted the CoinSwitch markets desk in a statement to Gadgets 360.

Ether Shows Mixed Price Movement

Ether (ETH) registered a price increase of 0.42 percent on Monday morning. At the time of writing, ETH was trading at $3,943 (approximately Rs. 3.34 lakh) on foreign exchanges. However, according to the crypto price tracker by Gadgets 360, ETH’s price dropped by 1.63 percent, bringing its value down to $3,925 (roughly Rs. 3.32 lakh). This mixed price movement reflects the ongoing volatility in the cryptocurrency market.

“With the US Consumer Price Index (CPI) data expected on Wednesday, we anticipate some volatility in the crypto markets leading up to the announcement. Bitcoin dominance remains below 56 percent, with Ethereum gaining strength against it last week. Ethereum is currently at a critical resistance level against Bitcoin. Most altcoins are following the market trend and are down modestly today,” commented Vikram Subburaj, CEO of Giottus.

Market Capitalization and Altcoin Performance

The overall crypto market capitalization dipped by 1.44 percent in the last 24 hours, currently standing at $3.63 trillion (approximately Rs. 3,07,55,153 crore), as reported by CoinMarketCap. Tether, USD Coin, Uniswap, Monero, and Iota managed to maintain minor gains of under one percent on Monday.

“The altcoin market is buoyed by the recent US presidential victory of Donald Trump, whose crypto-friendly policies have sparked optimism among investors. The market remains bullish, driven by strong institutional demand and positive sentiment across the crypto landscape,” stated Shivam Thakral, CEO of BuyUcoin.

Putin’s Bold Statement: Bitcoin’s Rise Is Inevitable Amid Decline Of The Dollar

December 5, 2024, 12:45 pm

Russian President Vladimir Putin, while addressing the VTB forum “Russia Calling!” on Wednesday, reiterated that financial technologies are impossible to stop and that the use of cryptocurrencies is on top of the list. He said that the international financial environment will continue demanding efficiency and reliability, thereby resulting in the development of innovations such as digital currencies.

Putin said that even with the regulation or restriction attempts made by the outside world, the technological advancement, specifically cryptocurrencies, will continue evolving.

As in the case of cryptocurrencies, their role in the future of finance is already inherent in Putin’s words. He admitted the growing importance of such innovations, and underlined that they will thrive despite all attempts to prevent this from happening. The Russian leader stated that the need for more effective financial systems propels forward these changes, and that they become an integral part of the future of the global economy.

Decline of the Power of the U.S. Dollar and Its Worldwide Impact

He talked about the rise of cryptocurrencies, and then he spoke on the role of the U.S. dollar in the world. According to him, the decline of the currency is not because of the growth of digital currencies but rather due to the policies of the United States. He claimed that actions by American leaders, particularly since Donald Trump left office, have made the world move away from the dollar.

Putin also criticised America for using the dollar for political purposes, especially after he highlighted the economic impact resulting from the 300 billion dollars in Russian assets that are currently frozen by Western states as a result of the Russia-Ukraine conflict. He asked who needs foreign reserves when they can be frozen or seized during politically charged periods.

Shifting Focus Toward National Interests and Domestic Investment

In response to these challenges, Putin called for the shift of economic priorities. Instead of reliance on foreign currency reserve, he called for investment into domestic projects that would immediately impact Russia’s infrastructure, logistics, science, and education. He insisted that this kind of investment would be much more secure and better positioned for the long-term growth and stability of the nation.

Cryptocurrencies as a Response to Economic Instability

Putin also spoke about the growing interest in alternative financial systems due to geopolitical tensions. He said that with the U.S. losing its economic power and making its policies politicize the dollar, countries are increasingly looking for alternative financial solutions. He believed that cryptocurrencies are a natural response to this shift, offering a stable alternative to traditional systems subject to political manipulation.

The Future of Global Finance

With the changing geopolitical scenario and shifting global economic order, Putin’s words speak for a future where digital currencies like Bitcoin and other innovations in finance will be major players in the world’s economy. With the demand for alternatives to the U.S. dollar rising and with blockchain technology moving forward, cryptocurrencies are all set to become a major part of global financial systems.

Whether the governments can effectively ban or regulate cryptocurrencies is still uncertain. Still, as Putin emphasised, the greater the need for efficient, reliable, and independent financial systems, the higher the tendency of digital currencies to dominate and shape modern finance.

Bitcoin Soars Past $94,000: How Trump’s Latest Move Boosted Cryptocurrency

November 20, 2024, 12:23 pm

Bitcoin surged to an all-time high of over $94,000, continuing its dramatic rise in the weeks following Donald Trump’s victory in the November 5 U.S. presidential election.

According to a report by Reuters, the leading cryptocurrency was trading at $92,104 during Asian hours on Wednesday, November 20, after reaching its record peak of $94,078 late in the previous session. This new milestone followed a previous record of over $93,000 set last week, with Bitcoin fluctuating near the $90,000 mark in recent days, as per crypto tracker CoinMarketCap.

Notably, Bitcoin has more than doubled in value this year alone, underscoring its significant growth trajectory.

What’s Driving Bitcoin’s Record High?

Bitcoin’s latest surge was fueled by a report in The Financial Times that revealed Trump Media and Technology Group (DJT), which operates Truth Social, is in discussions to acquire Bakkt, a cryptocurrency trading platform backed by NYSE-owner Intercontinental Exchange.

Trump owns a 53% stake in DJT, and the news of Bakkt’s potential acquisition has raised expectations of a pro-cryptocurrency stance under the incoming Trump administration.

Tony Sycamore, market analyst at IG, told Reuters that Bitcoin’s rise was “supported by the Trump deal talk report as well as traders taking advantage of the first day of options trading on the Nasdaq over BlackRock’s Bitcoin ETF.”

Impact of Trump’s Victory on Cryptocurrencies

Cryptocurrencies have experienced a significant boost since Trump’s electoral win, with investors anticipating favorable policies for digital assets. Traders have been betting on Trump’s promised support for cryptocurrencies, which they believe will lead to a less restrictive regulatory environment and inject fresh momentum into the market.

Since the election, Bitcoin has surged nearly 35%, rising from around $70,000 on the night of the election to its current record-breaking levels. Optimism surrounding Trump’s support and a crypto-friendly Congress has further fueled expectations of a thriving future for the asset class.

What Is It Kimchi Premium? What Are Its Legal Implications?

November 18, 2024, 2:46 pm

Crypto trading remains a niche activity globally, largely attracting individuals with a high tolerance for risk. However, it has gained significant popularity in South Korea, where the volume of cryptocurrency trades has surpassed that of equities on the Kospi, the country’s main stock index.

Due to strict currency controls and anti-money laundering regulations, South Koreans are restricted from converting their funds into foreign currencies to trade on international crypto exchanges. As a result, only local exchanges can cater to the overwhelming demand for digital assets. This has led to a premium price for Bitcoin and other cryptocurrencies in South Korea compared to other countries, a phenomenon known as the “Kimchi premium,” named after the popular Korean dish.

The Kimchi premium became widely recognized during the Bitcoin bull run of 2017, when cryptocurrency prices surged past $19,000. The name’s exact origin remains unclear, but it has since become synonymous with the price difference between South Korean exchanges and global markets. This price differential is the basis of crypto arbitrage trading, which made headlines with the rise of Sam Bankman-Fried, a crypto entrepreneur who capitalized on the Kimchi premium to gain fame and fortune.

However, attempting to profit from this price difference carries legal risks. The notion of arbitrage and the convergence of asset prices in the global financial system generally leads to swift corrections, but the unique situation in South Korea continues to create this premium.

The popularity of crypto trading in South Korea is undeniable, with about 7 million people—almost 15% of the population—now registered on crypto exchanges. Despite market volatility in 2022, South Koreans have remained committed to digital assets, and this year, the volume of crypto transactions in the Korean won surpassed that of the US Dollar.

Bitcoin And Ether Plunge Amid US Recession Fears And Geopolitical Tensions

August 5, 2024, 1:29 pm

Bitcoin and Ether experienced significant declines, reaching multi-month lows due to growing concerns about a potential US recession. Recent soft economic data has triggered a rush to safe-haven assets, impacting the cryptocurrency markets.

Market Overview

Cryptocurrency markets saw a surge earlier this year when the US Securities and Exchange Commission approved an exchange-traded fund to track the spot price of Bitcoin and Ether. However, the current downturn has affected these gains as Bitcoin and other assets, including global equities, face a broad sell-off amid recession fears.

Geopolitical concerns, particularly the ongoing Israel-Hamas conflict, are also influencing investor sentiment. Bitcoin has lost over a third of its value since reaching a record high in March.

Expert Insights

According to Tony Sycamore, a market analyst at IG, “It’s a big reminder that Bitcoin and crypto, in general, are risk assets and sit at the pointy end of the risk spectrum.” His comments highlight the volatility and risk associated with cryptocurrencies.

Current Price Movements

Bitcoin: Fell 13% from its Sunday close to $51,560, marking its largest one-day drop since November 2022 and its lowest point since February.
Ether: Dropped 17% to $2,277, its lowest level since mid-January.

Tony Sycamore noted that Bitcoin was testing trend channel support at the $54,000/$53,000 range, which needs to hold to prevent further declines towards $48,000.

Impact on Related Stocks

Shares in US crypto-related stocks listed in Frankfurt also saw significant declines. Coinbase shares fell over 18%, while shares in mining companies Riot Platforms and Marathon Digital dropped 17.7% and 20%, respectively.

Delhi: Woman Loses Rs. 3 Crore In Crypto Theft; Phone Was On ‘Flight Mode’

July 27, 2024, 2:11 pm

A woman from West Delhi lost Rs. 3 crore on July 4 while traveling abroad when her close friend, aided by two accomplices, stole 6 bitcoins (BTC) from her crypto mobile wallet, according to the police.

The suspects, including the accused woman from Uttam Nagar and her two associates, committed the fraud while the victim’s phone was in flight mode. They used various “tumblers” to obscure the cryptocurrency trail. Tumblers are tools used to mix identifiable cryptocurrency with others to hide its origin.

“The accused and her associates knew the woman would be on a flight for 7-8 hours, during which her phone would be off,” said Hemant Tiwari, Deputy Commissioner of Police, IFSO.

Investigations revealed that the bitcoins were dispersed across six different wallets. According to the Special Cell’s IFSO unit, the digital marketer discovered the BTCs missing on July 4 and subsequently filed a complaint.

“On July 4, the accused woman had accompanied her friend to the airport. During the trip, she took the complainant’s phone under the pretext of using it for navigation and transferred all six bitcoins from the wallet to several other wallets, using a tumbler to mix them,” an officer explained.

After the transfer, some of the cryptocurrency was converted to cash through various accounts. The police arrested the woman on July 19 and seized Rs. 1.25 crore in cash, 2.32 BTC, 96,000 USDT, and three mobile phones from the suspects.

The arrested individuals, including Sherry Sharma, 27, from Rohtak, and Ashish Sharma, 24, from Vipin Garden, Delhi, face charges under sections 303(2) for theft, 323 for concealment of property, 61(2) for criminal conspiracy, 3(5) for joint criminal liability, and 317(2) for stolen property of the Bharatiya Nyaya Sanhita (BNS), as well as Section 66 of the IT Act.

Trump Urges Crypto Miners To Produce All Remaining Bitcoin In The USA

June 12, 2024, 7:15 pm

Former President Donald Trump met with several Bitcoin miners at Mar-a-Lago on Tuesday evening, as reported by Matthew Schultz, the executive chairman of crypto mining company CleanSpark Inc.

Schultz mentioned that during the meeting, Trump expressed his appreciation and understanding of cryptocurrency, noting that Bitcoin miners play a role in stabilizing energy supply from the grid. He also stated that Trump indicated he would support miners while in the White House.

The Trump campaign did not promptly reply to a comment request. Trump mentioned on his Truth Social profile that Bitcoin mining could serve as a crucial defense against a Central Bank Digital Currency (CBDC). He expressed a desire for all remaining Bitcoin to be produced in the United States.

Recently, the ex-president has been focusing more on Bitcoin and other digital currencies during his campaign, seeing them as a means to connect with a broader audience. He has consulted with Elon Musk on this topic and announced at a recent Libertarian Party gathering his intention to reduce the sentence of Ross Ulbricht, the Silk Road’s founder who was convicted. Additionally, his campaign is now open to receiving cryptocurrency contributions.

The gathering occurs amidst challenges faced by cryptocurrency miners, including criticism regarding climate change concerns and their effects on local electricity networks. Democrats have taken the lead in intensifying the examination of Bitcoin miners’ energy usage and carbon footprint, while Texas Senator Ted Cruz has emerged as a prominent supporter of the industry.

The cryptocurrency industry is working hard to support candidates who are viewed positively towards digital assets, often by increasing contributions to the Fairshake political action committee.

The US has supplanted China as the epicenter of Bitcoin mining since 2021 when Beijing enforced an industry ban. The energy-intensive process involves using power-hungry computers to validate encrypted transactions on the Bitcoin blockchain, with rewards earned in the form of tokens.

CoinEx Celebrates Bitcoin Pizza Day with Events and $5,200 in Prizes

May 24, 2024, 2:06 pm

Happy Pizza Day! Today marks the anniversary of Laszlo Hanyecz’s historic exchange of 10,000 BTC for two pizzas 14 years ago. To celebrate, CoinEx is hosting special events both online and offline worldwide. Cryptocurrency enthusiasts are invited to join and share a total prize of USD 5,200.

Bitcoin Remains the Industry Leader

Bitcoin, the first decentralized cryptocurrency, continues to dominate the market. Both cryptocurrency investors and traditional financial markets keep a close watch on its performance. This year, Bitcoin reached an all-time high of USD 73,047 per coin in March, with a current market value of $1.4 trillion, solidifying its leadership position.

The first Bitcoin ETF was launched in the United States earlier this year, followed by Hong Kong introducing the first Bitcoin ETF in Asia. With the completion of the fourth halving, Bitcoin’s use cases have expanded further with new protocols like Runes and the existing Ordinals protocol.

Today, Bitcoin has surpassed the USD 70,000 mark again, reaffirming strong market demand. It is expected that Bitcoin will continue to be the cornerstone of the cryptocurrency world.

Celebrate Pizza Day with “One Bite of Bitcoin”

On Pizza Day, CoinEx offers unique activities for Bitcoin enthusiasts to express their passion and share in a USD 5,200 prize pool through the “One Bite of Bitcoin” campaign. Activities include:

One Line to Bitcoin: Participants share their crypto investment wisdom on CoinEx’s official Twitter/X account.
Share Your Slice: Participants post photos of themselves with pizza or AI-generated pizza images in the comments of the designated CoinEx post.
Offline Meetup: Participants take photos with Pizza Day-themed foam boards at iconic landmarks and share them on Twitter/X, tagging CoinEx for a chance to win pizzas or cryptocurrency.

Offline meetups are being held in Brazil, Cameroon, India, Indonesia, Malaysia, Nigeria, the Philippines, Spain, and Vietnam.

Join the Celebration

CoinEx invites all Bitcoin enthusiasts, from seasoned investors to newcomers, to participate in “One Bite of Bitcoin” and contribute to the future of digital currency. Visit CoinEx’s official website or follow their social media for more details on the campaign and event dates.

Join us on Pizza Day and let your creativity and passion for Bitcoin shine. Your participation is eagerly awaited!

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange dedicated to making trading easier. It offers services like spot and margin trading, futures, swaps, automated market maker (AMM), and financial management to over 5 million users in more than 200 countries and regions.

CoinEx has listed over 1,000 tokens and more than 1,400 trading pairs, providing users with access to the latest cryptos. Adhering to a “user-first” principle, CoinEx aims to create an equitable, respectful, and secure crypto trading environment, allowing individuals of all experience levels to access the world of cryptocurrency effortlessly.

DISCLAIMER: VMPL contributed the news release that is above. ANI disclaims all liability for the content of the same.

Economist Daniel Lacalle on Bitcoin vs Dollar battle

March 4, 2024, 4:47 pm

Renowned economist Daniel Lacalle expresses concerns regarding the future trajectory of the US dollar, attributing it not to cryptocurrencies like Bitcoin, but rather to fiscal policies. Lacalle highlights the alarming surge in national debt, now exceeding $34 trillion and growing by $1 trillion every hundred days.

He contends that this trend is unsustainable, especially during a period marked by apparent recovery, characterized by robust employment growth and rising earnings. Lacalle emphasizes the unsustainable nature of debt accumulation, particularly in relation to GDP growth, which, when adjusted for public debt accumulation, is the most unfavorable since 1930.

He underscores the paradox of seemingly strong economic performance amid an unprecedented rise in national debt. Lacalle challenges the notion of recovery, citing the diminishing purchasing power of salaries and the escalating financial burden on American families, worsened by negative real wage growth.