Crypto Groups Spent Over $120 Million to Influence 2024 Elections
The crypto industry has spent more than $119 million this year to influence US elections and promote crypto-friendly policies. Major contributors include Coinbase and Ripple. The two companies have invested around $99 million in political action committees (PACs) and other entities. The industry has been frustrated by the slow pace of crypto regulation in the US, and the spending is aimed at getting candidates who support the industry elected.
Trump’s NFT Collection Rakes $2 Million
Despite global NFT sales being slow, former president Donald Trump’s latest NFT collection, the “Series 4: America First Collection,” has raised more than $2 million. These digital collectibles, which sell for $99 each, feature Trump’s likeness and have been heavily promoted, but only a small portion of the collection has sold. Analysts have expressed skepticism about the long-term value of these NFTs, advising investors to sell before the 2024 election.
Effect of 20% Tax on Unrealized Gains
A 20% tax on unrealized gains could have significant economic impacts, including premature asset sales, increased market volatility, and discouraging long-term investment. The tax would also face administrative challenges, liquidity issues, and potential legal and political opposition. The tax could generate significant revenue and reduce wealth inequality, but it could distort investment behavior and reduce overall economic growth.
Yuga Labs CEO Announces The Workshop Team
Yuga Labs CEO Greg Solano announced that they have established a small agile team called “The Workshop” focused on developing and rapidly launching new products on the ApeChain network. The initiative comes as part of the company’s efforts to simplify its operations and deliver innovative blockchain solutions. The team will prioritize products that are successful and quickly phase out underperforming ones.
Telegram Holds $400 Million in Digital Assets in 2023
According to a Financial Times report, Telegram held $400 million in digital assets by the end of 2023, with a significant portion of its revenues coming from crypto-related activities, such as the sale of integrated wallets and collectibles. These activities generated approximately $148 million in revenue, accounting for 40% of Telegram’s annual revenue. The report also noted Telegram’s relationship with the TON blockchain and the possibility that the app could facilitate illegal activities.
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BITCOIN (BTC)
BTC is priced at $57,690 with a 0.68% increase in value as of the morning hours. An increase of up to $65,000 was achieved but could not be sustained. The $59,000 level was broken downwards again. The first support zone appears between 56,800 and 55,500. The $59,200 level is now a strong resistance zone.
ETHEREUM (ETH)
ETH is priced at $2448 with a 0.91% increase in value as of the morning hours. There was an increase from $2570 to $2820. Permanence could not be achieved at this level. There was a decrease to $2400. If a breakdown occurs below the $2400 level, pullbacks to $2330 may be seen. If $2820 is broken upwards, pricing up to $3000 may be seen.
RIPPLE (XRP)
XRP is priced at $0.5482 with a 0.18% gain as of the morning hours. Persistence above $0.55 will be quite positive. A pullback to $0.5434 occurred. In pullbacks, a pullback to $0.5350 may now occur. Increases to $0.60 may be seen in prices above $0.55.
AVALANCHE (AVAX)
AVAX is priced at $21.90 with a 2.19% increase in value as of the morning hours. There is a price below $23 again. With the reaction that AVAX will receive from the $20 region, an increase of up to $25 may occur. If the pullback deepens, the price may go up to $20.
SOLANA (SOL)
SOL is priced at $129.11 with a 0.61% increase in value as of the morning hours. There was another pullback from $162 to the $127 area. If it reacts from this level, a rise to $137 may occur. If the pullback continues, the $115 area looks strong.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2496 with a 0.28% loss in value. After the ATH was renewed, prices below $2500 were seen. $2505 is now our first resistance zone. If there is a break above this level, ATH can be renewed again. The $2470 and $2465 range seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $28.45 with a 1.44% loss in value as of the morning hours. A 29.10 breakout occurred and a retest was given. In the continuation of the rise, an increase of up to $30.73 may occur. In pullbacks, 28.10 and 27.50 appear to be strong supports.
