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#Share Gate.io Annual Report 2023 to Get Exclusive Merch#Bitcoin (BTC) Price Massive Volatility, Ripple (XRP) Predictions, Shiba Inu (SHIB) Achievements: Bits Recap Jan 4
Bitcoin (BTC) began the new year with a significant price rally, surpassing $45,500, influenced by expectations of a US spot Bitcoin ETF, but experienced a downturn to around $42,000 amid market speculations.
Ripple’s XRP faced a recent drop in value, reaching a two-month low, but analysts remain optimistic about its future, predicting significant price increases following Ripple’s legal victories.
Shiba Inu (SHIB) has gained attention due to its popularity in certain markets and the successful launch of its Shibarium blockchain solution, leading to substantial increases in transactions and wallet addresses on its network.BTC’s Rollercoaster
The primary cryptocurrency started the new year with a splash, rallying above $45,500 (a price last seen in April 2022). A possible reason behind the uptrend was the growing hype that a spot Bitcoin ETF would see the light of day in the US in the following weeks.
However, the jolly was short-lived. BTC’s value dropped yesterday (January 3) below the $42K mark, followed by a slight resurgence toward the current level of around $43K (per CoinGecko’s data). The Matrixport report hinting that the US Securities and Exchange Commission (SEC) would not approve a single ETF application in January might be one factor playing a role.
However, prominent names like Bloomberg’s Eric Balchunas and Scott Melker (also known as “The Wolf of All Streets”) opposed, describing the report as one man’s speculation, which is not based on verified sources.BTC miners’ actions should also be mentioned. As CryptoPotato recently reported, BTC’s hash rate hit an all-time high of 544 exahashes per second around Christmas. This might have made the network more secure, but it has also resulted in higher costs for miners who dumped a large chunk of their holdings onto exchanges at the start of 2024.And while the price might have corrected, it’s still true that BTC is up a lot in the past few months. Take a look at our most recent video to find out what a prominent expert thinks about the rally.Where is XRP Headed?
Ripple’s XRP is another digital asset that suffered from the recent market downfall, with its price plunging to a two-month low of $0.55.
Analysts like EGRAG CRYPTO and Dark Defender, though, remain optimistic that 2024 would offer much prosperity to XRP investors.
The former noted Ripple’s success in its lawsuit against the SEC, claiming this could allow the asset’s price to skyrocket during the next potential bull run to as high as $27. Dark Defender was less bullish, setting a short-term target of $1.
SHIB’s Developments
Shiba Inu has also made the headlines, thanks to its growing popularity in certain regions and the launch of its layer-2 blockchain solution – Shibarium.
As CryptoPotato reported, the memecoin was the second-most traded crypto asset on the Indian exchange WazirX in 2023, trailing behind Bitcoin (BTC).
For its part, Shibarium (which was designed to improve Shiba Inu’s speed and lower transaction costs) has blasted through multiple milestones. Total transactions on the network are close to 250 million, while wallet addresses surpassed 1.3 million. #BRC20 Trending Tokens#
SEC Will Approve Spot Bitcoin ETF to Maintain Regulatory Control Over Crypto Industry, Analyst Says
Investment bank TD Cowen predicts the U.S. Securities and Exchange Commission (SEC) will approve a spot bitcoin exchange-traded funds (ETFs) by the Jan. 10 deadline as a “political necessity.” The bank’s analyst believes that the SEC needs to “cement its role as a crypto regulator before Congress consider broader crypto legislation.”
‘This Is a Political Necessity’
Investment bank TD Cowen’s research team expects the U.S. Securities and Exchange Commission (SEC) to approve a spot bitcoin exchange-traded fund (ETF) by the Jan. 10 deadline, viewing it as a “political necessity.” This date marks the first decision deadline this year; it’s for a spot bitcoin ETF proposal submitted by Cathie Wood’s Ark Invest and 21shares.
In a note published on Tuesday, TD Cowen Washington Research Group, led by financial analyst Jaret Seiberg, explained:We also believe the agency does not want to lose a legal challenge to its refusal to approve bitcoin ETFs,” the investment bank added.
The SEC’s legal battle against Grayscale Investments regarding the crypto asset manager’s application to convert its bitcoin trust (GBTC) into a spot bitcoin ETF ended in defeat in August last year. Initially denying the application, the regulator was forced to reconsider its decision after a court ruling.Congress is currently considering several cryptocurrency-related bills. Last year, the U.S. House Financial Services Committee passed four digital asset bills: the Financial Innovation and Technology (FIT) for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act.
TD Cowen believes that there is still an opportunity for lawmakers to negotiate a comprehensive crypto market structure bill during the “lame duck” period following an election. A lame-duck session of Congress is the period between the election and the inauguration of a new government. The investment bank noted: #BTC bounces back to around $44K, more pump?#
Largest Solana drainer community has over 6K members — Chainalysis
Solana wallet drainer activity has increased in recent months as the price of SOL has skyrocketed, making holders of SOL and Solana-based memecoins more lucrative phishing targets.One of the largest online communities devoted to just one popular Solanawallet drainer kit has more than 6,000 members, according to blockchain security firm Chainalysis.
Over the last week, several blockchain security firms shared concerns about a growing number of malicious decentralized applications targeting users with Solana-based drainers.Chainalysis senior intelligence analyst Brian Carter told Cointelegraph that the most successful draining kits are flexible and target various assets using different methods.He highlighted Russia's links to the small community of developers offering drainer kits for sale, with the documentation often in Russian.
“The largest community devoted to one Solana drainer has about 6,200 members,” he said before adding:To mitigate the threat, he suggested using tools such as Wallet Guard, which recently implemented protections for Solana drainers. He added that phishing with malicious links was a common attack vector.Many drainers exploit people’s fear of missing out and spam users in DeFi [decentralized finance] communities with links to legitimate-looking — but fraudulent — websites. Social Media accounts and Discord communities are often compromised and used to promote links to drainer websites,” he added.
According to blockchain security firm CertiK, many cybercriminals began offering Solana drainer kits to scammers in December.
The kits are peddled on private hacker chat groups and the dark web and can be bought for as little as $250 per month, according to screenshots shared by CertiK.
Crypto drainer kits are crafted to facilitate cyber theft by draining funds from digital wallets. They primarily operate through phishing scams, luring victims to enter their wallet details on counterfeit websites. Because many people asked for it, here’s a list of projects i have the most conviction in!
Anyway, let’s start:
1: $KAS
Y’all already know but this is my biggest winner of 2023, i made 200x on it. In my opinion, i think we can easily do a 20x to 30x from here. This would put the market cap at the market cap of $ADA last bullrun.
2: $AIPG
3: $MASQ
You guys know how much i love Masq.. up 2x since my initial call but we’re just getting started. You haven’t seen anything yet. 500M market cap is my target.
4: $MUBI
5: $ROUTE
I think this is the next $MATIC, not many influencers are talking about it. Easy 30-40x from here IMO. $5-6 would be a good entry.
6: $RNDR
This is by far my favorite AI play, but also the biggest. I’m already up 9x on it. I think it could pull another 10-20x in the bullrun.
7: $INJ
8: $METIS
This one is up 11x since my entry, didn’t take my initial out yet. I think it can go much higher. Holding this until #bitcoin is at 80k+
9: $TRIAS
I’m up 12x on this since i caught the bottom at $1.1 over a year ago. I was extremely patient, but it paid off lol. I think this is going to $100+ minimum.
10: $NAKA
One of my favorite gaming play. I think this #altcoin could at least 20x to 30x from here. Anway, i’m already up 8x on it.
Honourable mentions: $RIO, $XNA, $ZEPH, $CHNG, $AVAX, $SOL, $ATOM, $FET, $OCEAN, $ROOT, $VRA, $TAO, $ARB.
I hope you guys enjoyed the reading!
The amount of money we will make with #crypto this year & in 2025 is crazy. Some of my followers will get rich asf with my calls.
Many people will regret not following me. 
