iAgent by Injective
Injective, a Layer 1 blockchain platform based on Cosmos, has launched iAgent, a software development kit (SDK) that allows users to create custom on-chain artificial intelligence (AI) agents. iAgent uses OpenAI’s ChatGPT and other major language models to perform operations such as payments, trading, and fund management on the blockchain with natural language commands. Users can design independent agents for specific tasks, such as tracking market data or conducting trades. The innovation aims to simplify DeFi development and enhance the user experience on the Injective platform. As of November 19, Injective’s native token, INJ, was trading at $24.68.
Trump Calls Crypto-Friendly Lutnick to Commerce Department
US President-elect Donald Trump is expected to nominate Cantor Fitzgerald CEO and cryptocurrency advocate Howard Lutnick to head the Commerce Department. Lutnick’s firm has been a custodian for Tether (USDT) since 2021, and notes that USDT is backed by US Treasury bonds, Bitcoin, and gold. Lutnick, who emphasized the global trade potential of Bitcoin and stablecoins, reiterated his support at the 2024 Bitcoin Conference. As Commerce Secretary, Lutnick is expected to work on promoting job creation, economic growth, and innovation. While the nomination was reported by Punchbowl News and The Wall Street Journal, Trump’s team has yet to make an official statement.
Saylor Calls Microsoft for Bitcoin
MicroStrategy Chairman and Bitcoin advocate Michael Saylor will give a three-minute presentation to the Microsoft board of directors on why the company should invest in Bitcoin. Saylor argues that Bitcoin could make Microsoft’s stock more stable and less risky because it would base some of the company’s value on tangible assets. The initiative, proposed by the National Center for Public Policy Research (NCPPR), highlights MicroStrategy’s Bitcoin strategy and its significant stock performance compared to Microsoft this year. The Microsoft board recommended voting against the proposal, which will be decided on Dec. 10.
Stablecoin Supply Hits Record High
Stablecoin supply reached a record high of $176.2 billion amid rising investor confidence following Donald Trump’s election victory. Major stablecoins like Tether (USDT) and Circle’s USDC have seen significant growth, with USDT up over $8 billion in market cap and USDC up nearly $2 billion. This growth reflects increased demand for liquidity and trading activity, indicating market expansion. Additionally, net inflows of over $1.8 billion in USDT to exchanges indicate increased purchasing power and readiness for market action. This coincides with renewed optimism in the digital asset market, with Bitcoin reaching new all-time highs.
DREX Pilot Project from Chainlink and Microsoft
Chainlink is collaborating with Microsoft Brazil, Banco Inter, and blockchain firm 7COMm on a pilot project for Brazil’s central bank digital currency (CBDC) DREX. The project aims to demonstrate the automated reconciliation of cross-border agricultural commodity transactions using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) technology, transforming trade finance. The pilot also aims to tokenize the Electronic Waybill (eBoL) and trigger payments on-chain with supply chain data. Chainlink’s CCIP technology plays a critical role in enabling secure cross-border and cross-currency transactions, demonstrating the potential of blockchain technology to transform trade finance.
Marathon Delivers $850 Million Bonds for Bitcoin
Marathon Digital is issuing $850 million in convertible notes to repurchase existing debt, buy Bitcoin, and fund corporate initiatives, with an option to increase that amount to $1 billion. Of the expected $833 million in net proceeds, $199 million will be used to repurchase $212 million of its existing 2026 convertible notes. The remaining amount will be allocated for Bitcoin purchases, corporate expansion, and strategic acquisitions. The move aligns with a trend of companies adding Bitcoin to their balance sheets, as Bitcoin’s price has risen above $94,000. The convertible notes will mature in 2030 and can be converted into cash, stock, or a mix of both.
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BITCOIN (BTC)
BTC is priced at 91,930 with a 0.41% loss as of the morning hours. The price is currently trading at 91,768.77 and is in a short-term consolidation process. In upward movements, the 93,283.72 level stands out as a significant resistance, and exceeding this level may accelerate the upward movement of the price and allow new highs to be tested. In the event of a downward movement, the first strong support level is at 86,628.74, and this level draws attention as a region where buyer interest may intensify in the event of a price pullback. In general, the BTC price is currently in a horizontal movement, and the direction of the break will determine the next move of the price. While breaking the resistance may provide upward momentum, if the resistance level is not overcome, there is a possibility that the price will correct towards the 86,628.74 support.
ETHEREUM (ETH)
ETH is priced at $3095 with a 0.40% loss in value as of the morning hours. The price is currently trading at 3,090.60 and is in a horizontal consolidation process. In upward movements, the first significant resistance that the price will encounter is at 3,175.47, and if this level is exceeded, the price is expected to test the next resistance level of 3,248.52. In downward movements, the first significant support level is the demand zone marked in blue around 3,040, and this zone stands out as a critical area where buyers can step in if the price falls. Below this, the level of 2,819.69 stands out as a strong support point, and if this level is dropped below, another demand zone marked in red around 2,700 may provide support. In deeper declines, the levels of 2,461.59 and 2,338.99 stand out as long-term support points.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $1.0966 with a 0.35% loss in value. The price is currently trading at 1.0933 and is in a horizontal consolidation process. In upward movements, the first important resistance level is 1.2025, and breaking this level may allow the price to continue its uptrend and move higher. Below this, the 1.0180 level stands out as an intermediate resistance, and breaking this level may be a critical step for upward momentum. In downward movements, the first important support level that the price will encounter is the demand zone located around 0.9500. This region draws attention as an area where buyer interest can intensify and the price can recover. At lower levels, the 0.8398 level stands out as a strong support point, while the 0.7398 level is considered a long-term support point.
AVALANCHE (AVAX)
AVAX is priced at $33.51 with a 1.96% loss in value as of the morning hours. The price is currently trading at 32.95 and is showing a short-term downward trend. At the current level, the 32.95 level stands out as a strong support point and if this level is broken, the price can be expected to move downwards and test the lower support areas. Below this, there is a demand area marked in green at 30 levels and this area draws attention as an important area where buyer interest can intensify. At lower levels, there is another demand area marked in red around 28 and this area is a critical level that can provide support in declines. In addition, there are demand areas marked in blue and orange around 26 and 24 and these areas are considered as areas that can see strong buyer interest if the price declines to lower levels. At the lowest level, the 21.88 level stands out as a long-term support point.
SOLANA (SOL)
SOL is priced at $233.40 with a 1.78% loss in value as of the morning hours. The price is currently trading at 233.33 and is in a short-term pullback process. Just below the level where the price is, there is a demand zone marked in green between 220-230, and this zone stands out as a critical area where buyers can step in if the price declines. At lower levels, the 215.27 level is an important support point, and if this level is broken, the price is likely to decline towards the 205.00 support. Below this, the 183.38 level stands out as a strong support point, and if this level is broken, the long-term support point at 163.70 may come into play. In upward movements, the price needs to show a strong recovery in the current demand zone to reach the 240-250 levels again. If the price exceeds the 250 level, higher levels can be tested.
