FBI Investigates Polymarket CEO
The FBI seized the phone and electronic devices of Polymarket CEO Shayne Coplan as part of a Justice Department investigation into U.S. users who allegedly bypassed geographic restrictions to access the platform. Polymarket, a New York-based betting platform, generated more than $3 billion in trading volume during the U.S. presidential election and correctly predicted Donald Trump’s victory. In 2022, Polymarket agreed with the CFTC to close non-compliant markets and block U.S. users. Coplan has reiterated Polymarket’s neutral stance, lightly addressing the FBI’s stance on social media.
Crypto Market at $3.12 Trillion
Total cryptocurrency market capitalization reached a record high of $3.12 trillion on November 12, surpassing the peak set in November 2021. Bitcoin has made a significant contribution to the market’s 80% growth this year, reaching a new record high of $89,560. Bitcoin currently holds more than 60% of the total market, with its market cap surpassing silver and the likes of Meta and Tesla. However, Bitcoin only accounts for 10% of gold’s market cap, indicating potential for future growth. Analysts, particularly Standard Chartered, predict that friendly crypto policies could push the total market cap to $10 trillion by 2026.
Robinhood Increases Crypto Options With Trump’s Victory
Following Donald Trump’s victory in the US presidential election, Robinhood expanded its crypto options for US users, including Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP (XRP), bringing the total crypto options to 19. Coinbase also increased its altcoin support by listing PEPE. This move comes in anticipation of Trump providing a more crypto-friendly regulatory environment. Trump is expected to replace SEC Chairman Gary Gensler, who is known for his critical approach to the crypto industry. Bitcoin also reached a new record high above $91,000 amid positive market sentiment.
BlackRock Moves BUIDL Fund to Multi-Chain Structure
BlackRock has expanded its USD Institutional Digital Liquidity Fund (BUIDL) to multiple blockchain networks, including Aptos, Arbitrum, Avalanche, Optimism, and Polygon. This multi-chain expansion gives users access to features like on-chain yield, flexible custody, and real-time transfers. BNY Mellon will continue to provide custody on these new networks. BUIDL, currently the largest tokenized fund, offers investment opportunities for DAOs and digital asset firms, but users will face fees that vary across blockchain networks.
Bitwise Reaches $10 Billion with Attestant Acquisition
Bitwise Asset Management has acquired institutional-grade Ethereum staking provider Attestant, bringing its total assets under management to over $10 billion. The acquisition brings Ethereum staking to Bitwise’s portfolio as it looks to expand its offerings for high-net-worth and institutional clients. Attestant is known for its $3.7 billion staked assets and compliance-focused staking services. The newly formed Bitwise Onchain Solutions (Bitwise OS) division will offer Ethereum staking with an initial minimum investment of $10 million, and Attestant’s core team will join Bitwise to expand its staking offerings and contribute to open source projects.
Elon Musk in Trump’s DOGE Department
Elon Musk and Vivek Ramaswamy have been appointed to lead President-elect Donald Trump’s newly created Department of Government Efficiency (DOGE). Trump announced that DOGE would lead his Rescue America Act, which aims to create a smaller, more efficient government by July 4, 2026. Musk’s appointment has led to a 10% increase in the value of Dogecoin and sparked speculation that the cryptocurrency will be integrated into government projects or Musk’s business ventures. While supporters have welcomed the initiative, critics such as economist Peter Schiff have noted the difficulty of implementing such drastic reforms, reminding us that shutting down federal departments would require congressional approval.
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BITCOIN (BTC)
BTC is priced at 87,170 with a 0.90% loss in value as of the morning hours. The price is currently around 90,000 and seems to have encountered resistance at this level. The identified support levels are 81,846.71, 80,040.00, 77,199.99, 75,000.00, 74,000.00 and 73,620.12. These levels can work as support in case the price pulls back. The demand area marked in blue around 86,628.74 is noteworthy. This area indicates that buyer interest may increase if the price pulls back to these levels.
ETHEREUM (ETH)
ETH is priced at $3160 with a 2.55% loss in value as of the morning hours. The price is currently trading at 3,229.59, with the 3,248.52 level above standing as a significant resistance. The support level of 3,175.47 stands out, and the price is trying to hold on at this level. Another support line has also been determined on the chart at 2,819.69. This level may be a possible area to be tested in the event of a price pullback. In addition, two more demand zones are observed in the 2,700 – 2,750 range (marked in red) and the 2,550 – 2,600 range (marked in orange).
RIPPLE (XRP)
XRP is priced at $0.66 with a 6.20% loss in value as of the morning hours. The price is currently at 0.7021 and is trying to continue its upward movement. There is a demand zone marked in blue at 0.68. It is predicted that buyer interest may increase if the price falls back to this level. In addition, there is another demand zone marked in red at 0.66 and it is thought that buyers may step in at this level in case of a possible pullback. At lower levels, there are support zones marked in orange and green around 0.58 and 0.54. These areas stand out as points where the price can find support in its downward movement.
AVALANCHE (AVAX)
AVAX is priced at $32.16 with a 5.30% loss in value as of the morning hours. The price is currently at 34.17 and there is support at 32.95. This level stands out as the first area that the price should protect in the downward movement. At lower levels, there is a demand zone marked in green around 30. If the price is pulled back to this level, buyers can be expected to step in and support the price. In addition, there are two other demand zones marked in red at 27 and in blue around 25. These areas stand out as levels where there is strong buying interest in case the price experiences a deeper pullback. There is another long-term support level at the lowest region of the chart, at 21.88. If the price reaches this level, it can work as a strong support point.
SOLANA (SOL)
SOL is priced at $206.51 with a 2.57% loss in value as of the morning hours. The price is currently at 219.75 and this level works as resistance. There is a level defined as support at 215.27. This area may be the first holding point in case the price pulls back. There is also another support level at 205.00 on the chart. This area may work as a strong support if the price pulls back further. There is a demand area marked in blue around 188 and it is predicted that buyer interest may increase if the price pulls back to this level. In addition, there is a second support area marked in green around 183.38. These levels stand out as important buying areas in case the price experiences a deeper correction. At the lowest levels, a long-term support level such as 163.70 is seen. This level may act as a strong support point in a possible decline.
