Sol Strategies’ Nasdaq Plans and Shift to Solana
Sol Strategies, a publicly traded crypto holding company formerly known as Cypherpunk Holdings, plans to list on Nasdaq following a 2.336% stock gain on the Canadian Securities Exchange (CSE) since July. Led by CEO Leah Wald, the company has pivoted from Bitcoin investments to the Solana ecosystem, currently owning over 142,000 SOL tokens and staking nearly 1 million SOL worth $300 million. This strategic shift reflects confidence in Solana’s scalability and developer drive, and includes initiatives such as grants, partnerships, and educational programs to support Solana-focused projects. Despite this change, the company will continue to use the HODL symbol on the CSE, which symbolizes resilience and a long-term vision.
Vancouver City Explores Bitcoin as a Financial Strategy
Vancouver City Council has approved exploring Bitcoin adoption to address inflation and accessibility issues. Cryptocurrency advocate Mayor Ken Sim has introduced a proposal to assess Bitcoin’s potential for financial reserves and payments, noting Bitcoin’s strong performance over the past 16 years. While the proposal has garnered significant support, concerns have been raised about Bitcoin’s environmental impact and potential for misuse. Legal hurdles remain, as current state laws prohibit municipalities from holding or using cryptocurrencies as payment, but a feasibility report is expected in the first quarter of 2025. Sim showed his commitment by donating $10,000 in Bitcoin to the city.
Trump-Backed World Liberty Financial Sends LINK and AAVE Prices Soaring
The World Liberty Financial (WLFI) project, of which Donald Trump is the “crypto advocate in chief,” caused a 30% increase in LINK and AAVE prices with its large crypto purchases. The project purchased $10 million worth of ether (ETH), $1 million worth of Chainlink (LINK) and Aave (AAVE) in the morning hours.
World Liberty Financial stands out as a platform where users can borrow and lend crypto, create liquidity pools, and make stablecoin transactions. The project’s governance token, WLFI, contributes to the operation of the platform and works integrated with projects such as Aave and Chainlink.
Mt. Gox Wallet Moves 2,300 BTC: Bitcoin Reaches $100,000 Level
A wallet connected to Mt. Gox moved 2,324 BTC (worth $234 million) to an unknown wallet as the price of Bitcoin rose to $100,000. The move came amid a Bitcoin rally fueled by expectations of a Federal Reserve rate cut.
The transfer follows a total of 2,623 BTC ($255 million) moved from the Mt. Gox wallet to other addresses the day before. Mt. Gox is known to have made a series of large transactions this month, including a $2.4 billion Bitcoin transfer.
Avalanche Raises $250M Funding: Preparing for the New Era with “Avalanche9000”
The Avalanche Foundation has raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. This stands out as one of the largest funding rounds in the industry since the 2022 market crash.
Avalanche aims to reduce blockchain launch costs with the “Avalanche9000” upgrade scheduled to launch on December 16. The new subscription model will make operating costs more affordable with a monthly fee of 1.33 AVAX instead of a high upfront fee.
AMP Invests $27 Million in Bitcoin: An Australian First
AMP, one of Australia’s leading super funds, has invested $27 million in Bitcoin, making it the country’s first super fund to do so. The investment represents 0.05% of AMP’s total $57 billion in assets under management and is part of the company’s risk management and return enhancement strategy.
AMP announced that it purchased Bitcoin at prices between $60,000 and $70,000. The company’s senior portfolio manager, Steve Flegg, said in a LinkedIn post that Bitcoin had “a whirlwind year” and that they were pleased to take steps in this area.
Nvidia Shareholder Lawsuit: Were Crypto Revenues Misrepresented?
The U.S. Supreme Court has allowed a shareholder lawsuit against Nvidia alleging that it misrepresented its crypto mining revenues to proceed. The plaintiffs claim that Nvidia attributed its rapid revenue growth in 2017-2018 to the use of its GeForce GPUs in crypto mining and presented this revenue as generated through the gaming industry.
The lawsuit, which shareholders were allowed to file with the court, is considered a significant milestone in terms of corporate transparency. Despite the difficulties at the time, Nvidia rebounded by increasing its stock value by 190% in 2023, driven by demand for GPUs in artificial intelligence and gaming. The company reported a 95% increase in Q3 2023 revenue to $35.1 billion and set a new benchmark in the technology sector by surpassing the $3 trillion market cap.
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BITCOIN (BTC)
BTC is priced at $99,997 as of the morning hours, down 0.01%. There is a strong support area at 93,283.72 and the green zone shows that this area is strengthening as a demand area. The price reacted upwards from this support level and tested the resistance area around 102,000. However, the price, which could not break this level, is consolidating at the 100,000 level. This situation may indicate that the price is indecisive about its next direction. If the price breaks and closes above 102,000, the upward movement could gain momentum and reach 105,000 or higher. However, if the resistance is not broken and the price declines, a drop to 93,283.72 is expected. If this support is broken, 86,628.74 could be considered as the next target.
ETHEREUM(ETH)
ETH is priced at $ 3,922 with a 1.06% gain as of the morning hours. While the level of 3,443.98 stands out as a strong support, there is a demand area close to the level of 3,000 below. Currently, the price is trading in the red resistance area at 3,927.39, and this area represents a level where sellers are concentrated. The price has previously rebounded from support levels and climbed to this resistance area, but has not yet broken through. If the price breaks and closes above this resistance, it could gain momentum and reach levels of 4,100 or higher. However, if the resistance area is not broken, the price is likely to pull back to 3,671.16 or 3,443.98. Losing the support levels could trigger a downward movement towards 3,000.
RIPPLE(XRP)
XRP is priced at $ 2.3434 with a 0.21% gain as of the morning hours. While the 2.3111 level stands out as an important support area, the 1.9572 level below stands out as a second support area. The price is currently in a horizontal consolidation between the 2.3111 and 2.4972 levels, which shows that the market is indecisive and the next direction is not yet clear. In the event that the resistance at the 2.4972 level is broken and a close is made above this level, the price can be expected to move upwards and rise towards the 2.6469 level. However, if the resistance cannot be broken, the price may fall back to the 2.3111 level and a decline to the 1.9572 level may occur in the event of the loss of this support area.
AVALANCHE(AVAX)
AVAX is priced at $52.77 with a 0.72% loss in value as of the morning hours. The first important support level stands out as 45.80, while the levels of 42.56, 41.59 and 39.94 below stand out as additional support areas. The price has exhibited an upward movement with the reaction it received from the support levels and is currently trading in the red resistance zone at 52.92. This zone stands out as an area where sellers are intense and limit the upward movement of the price. If the price breaks this resistance and closes above it, it is possible to gain upward momentum and test new peaks. However, if the resistance zone cannot be overcome, the price can be expected to retreat back to the level of 45.80 and if this support is broken, the other support levels below can be targeted.
SOLANA(SOL)
SOL is priced at $ 226.14 as of the morning hours with a 0.32% loss in value. The first important support level stands out as 225.21, while the 215.27 and 205.00 levels below stand out as strong support areas. The 205.00 level in particular represents an area with intense demand. The price has recovered from the support levels and has made an upward move and is currently trading in the resistance area at 230.89. If this resistance area is broken, the upward move can be expected to accelerate and target 236.00. However, in case of a rejection from the resistance area, the price is likely to pull back to the support levels of 225.21 or below.
