Bitcoin meets resistance
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 6th December 2024.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
SUI Hits ATH
The thundering post-election crypto rally is taking a time-out today with all but one of the Top 20 digital assets in pullback mode. Decidedly green, though, is that singularly green coin, No. 20 Sui (SUI), which hit a new all-time high of $4.46, recorded as of about 3 a.m. (EST), per CoinGecko. The layer-1 blockchain is getting support from Phantom Wallet, a force of multi-chain integration with millions of monthly active users.
Among today's biggest movers are Bitget Token (BGB), Across Protocol (ACX) and Orca (ORCA).
As far as what's going on with BGB, 60th-largest token, native asset of the Bitget exchange, we are not entirely sure why it is up more than 20%. But then, we did come upon a news release this morning touting a tradable meme index launched on Bitget's futures trading platform.
As for ACX and ORCA, each token, it was announced, will get a listing on Binance. ACX, native asset of Across, the cross-chain token bridge, doubled to $1.22. It's on the verge of cracking into the Top 200, with a market capitalization north of $500M. ORCA, native asset of Orca, a Solana-run DEX, gained 80%. It's now comfortably above $7 and boasts a market cap of $386M, making it the 280th-largest coin, according to CoinGecko.
What's down
Volatile Day For Biggest Coin; Liquidity Questioned
Amidst a chorus of congratulatory messages commemorating Bitcoin surpassing $100K, a not-at-all surprising thing happened yesterday. BTC saw as much as $10K wiped off its price, falling to as low as $92.8K late yesterday afternoon. As of 7:50 a.m. (EST), the king of all digital currencies was $97.9K. Total crypto assets are down 5% in the past 24 hours to $3.74T.
Bitcoin is on “borrowed time,” Cointelegraph cautioned earlier today, citing new analysis showing liquidity conditions deteriorating.
What's next
'Crypto Czar' Supposedly Knows His Stuff
Trump has named David Sacks as "White House AI and Crypto Czar." Sacks is the former COO of Paypal and now leads a venture capital firm in Silicon Valley. He was among the cohort of tech entrepreneurs who went all in on the president-elect during the campaign, Politico said.
Pals with Peter Thiel and Elon Musk going back to early PayPal days, Sacks more recently has been building his brand co-hosting a podcast, "All In," while also starting up an AI company called Glue, which may or may not come under conflict-of-interest scrutiny as Sacks' role comes into focus. Because this czarship does not yet even officially exist, it's not exactly clear what authority he'll even have (Axios).
“Sacks will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump said in a post on Truth Social.
Sacks is also being described as a Solana bull, as he is among the investors backing Multicoin Capital, a SOL-related investment firm (Cointelegraph).
