Recently attracting attention with its significant trading volume and innovative moves in the cryptocurrency market, Bithumb Exchange has announced that it will list STRIKE (STRK) and IOTA (MIOTA) trading pairs starting January 11, 2025.

Following this announcement, notable activity was observed in the cryptocurrency market. Particularly, IOTA gained over 8% in value within just a few hours as a reaction to the news. Meanwhile, STRIKE started to garner interest and successfully drew the attention of investors with its listing announcement.

STRIKE (STRK): A New Favorite in the DeFi Market

STRIKE stands out as an innovative protocol in the decentralized finance (DeFi) sector. Operating on the Ethereum network, STRIKE enables users to earn interest by depositing their crypto assets. Inspired by popular platforms like Compound, the protocol aims to offer higher yields, positioning itself to expand the DeFi markets and attract more investors.

Bithumb has announced that it will currently support transactions for STRIKE only through the Ethereum network. The initial listing price of the altcoin on the exchange was set at 22,250 won. The STRIKE listing is expected to contribute to the expansion of DeFi while providing users with opportunities to benefit from various financial products.

IOTA (MIOTA): A Crypto Solution for the Internet of Things (IoT)

IOTA is recognized for utilizing a novel technology called Tangle instead of blockchain, enabling fast, secure, and feeless data transfers between IoT devices. With significant potential in the IoT sector, IOTA stands out for its energy efficiency and inter-company collaborations. The latest listing news prompted a rapid increase in IOTA’s price and sparked greater interest among project supporters.

Bithumb’s listing of IOTA will help the project reach a broader audience in the South Korean market. As IoT applications become more widespread, the adoption of MIOTA is expected to grow further in the coming period.

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Felix Hartmann, managing partner at Hartmann Capital, stated, “Altcoin season seems to have peaked for now.” He added that teams and venture capitalists are starting to close positions more aggressively, saying, “When momentum tips, we’ll see major downward spikes (murder wicks) on the charts.”

Overleveraged Altcoins

Hartmann explained that many altcoin funding rates have now surpassed 100% annualized, with recent price moves driven largely by perpetual traders amid declining spot market volumes. He warned, “The leg down will be brutal.”

According to CoinMarketCap data, the top-performing altcoins since November 1 include:

• Hedera (HBAR): up 99.31%,
• IOTA: up 79.61%,
• JasmyCoin (JASMY): up 72.47%.

However, historical data shows that altcoin seasons often lead to sharp corrections after significant gains. For example, in November 2021, Solana (SOL) reached $248.36 but dropped 64% to $89 by January 2022. Similarly, XRP saw a 51% decline in the same period.

Diverging Opinions

Some traders believe that the altcoin season has only just begun. Pseudonymous trader MilkyBull Crypto stated, “This month through March seems logical.” Another trader, Sensei, said, “Altseason has just started.”

For many investors, Bitcoin dominance serves as a key indicator of the start of an altcoin season. Currently, Bitcoin’s market dominance stands at 55.11%, down 7.88% over the past 30 days, according to TradingView data.

On December 4, Cointelegraph reported that the funding rates for perpetual futures have risen significantly, with bulls paying between 4% and 6% monthly to maintain leveraged positions. While these costs may seem manageable during strong uptrends, they can quickly erode traders’ margins if prices stagnate or dip.

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The post Major Warning for Altcoin Season: “The Drop Will Be Brutal” appeared first on Coin Engineer.

Bitcoin’s Key Intraday Levels

The BTC/USDT pair lost 0.57% in the last 24 hours and is currently trading at $95,552. Bitcoin (BTC) reacted from the FVG zone mentioned in the November 29 analysis. If the decline continues, it could bounce back from the next FVG zone’s support level at $94,700. A 4-hour close below this level may push it towards the next support at $93,150. Resistance levels are $97,300 and the all-time high zone.

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Ethereum (ETH): The ETH/USDT pair dropped 0.85% in the last 24 hours and is currently at $3,625. For Ethereum (ETH), the resistance levels are at $3,649 and $3,886, while support levels are found at $3,535 and $3,440.

IOTA (IOTA): The IOTA/USDT pair surged 41.91% in the last 24 hours, trading at $0.49. Resistance levels are $0.52 and $0.56, while support zones are $0.42 and, if the decline deepens, $0.38.

Ondo (ONDO): The ONDO/USDT pair gained 41.59% in the last 24 hours and trades at $1.69. The resistance level is at the all-time high zone, while support is located at $1.60, with deeper support at $1.485.

ChainLink (LINK): The LINK/USDT pair increased 30.62% in the last 24 hours and trades at $25.57. Resistance levels are $27 and $28.5, while support zones are $23.75 and $22.5 if the drop deepens.

Trending Coins

Over the past 24 hours, the most trending coins in the crypto market include XRP (XRP), Ondo (ONDO), and Hedera (HBAR). The top gainers are XYO Network (XYO), Moo Deng (MOODENG), and IOTA (IOTA). The top losers include Gigachad (GIGA), SPX6900 (SPX), and AIOZ Network (AIOZ).

Bitcoin Liquidation Map

On Bitcoin’s 12-hour liquidation map, notable liquidations include $41.5 million at $96,933 on the upside and $41.5 million at $95,010 on the downside.

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The post The Latest on Bitcoin and Cryptocurrencies: December 3 appeared first on Coin Engineer.

The EU Commission revealed on June 13 the chosen members of the second cohort for its EBSI. One of the selected is Iota, an open-source distributed ledger and cryptocurrency ecosystem.

Iota’s Web3 ID Solution

The choice of Iota emphasizes its Web3 ID solution, created in association with Walt.id, IDnow, Bloom Wallet, and HAVN.

Iota remarked that for its identification solution, this choice marks a major turning point.

“It creates the avenue for debates on KYC and privacy in a Web3 environment among regulations. This is particularly pertinent today because some authorities are debating their strategy for distributed finance (DeFi).”

EU Commission’s EBSI

Launched by the EU Commission in 2023, the EBSI is a testing environment for distributed ledger technology (DLT) solutions spanning many sectors.

Every cohort consists of no more than twenty initiatives, which are then given a controlled environment for testing and validation in addition to chances to interact personally with European authorities from all throughout the EU.

Along with Iota, chosen initiatives include the RealEstate.Exchange (REX) DigiShares, the documents and business-oriented blockchain DoxyChain, the smart contract and blockchain security analysis project Hacken, and the AI-centric knowledge infrastructure project Origintrail.

Often hampered by inefficiencies, high prices, and privacy issues, Iota’s particular Web3 ID solution use case seeks to change the conventional Know Your Customer (KYC) process implementation technique.

Using a reusable KYC system run by DLT and tokenization will help to improve user control over personal data as well as security.

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The developer claims that remote identification done by IDnow guarantees user compliance with EU Anti-Money Laundering (AML) and KYC rules, so starting the process.

Regarding Iota’s Web3 ID solution, the confirmed identity is tokenized and kept in the user’s wallet as a soulbound token that can be used across many Web3 apps to validate identification without revealing personal data.

This coincides with the EU working to put a digital ID system in place. Originally published in February 2023, its European Digital Identity (EUDI) rule was revised on May 21 with complete implementation requirements by 2026.

Member states have to issue every person and resident at least one EU digital identity wallet.

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From university diplomas to rail tickets, the digital ID wallet is made for electronically signing and storing documentation. It is considered the next development in European people’s way of life and employment.

Already, certain concepts for its development and application—such as the potential use case of zero-knowledge proofs—have been covered.

Although not particular to Europe, the TON blockchain ecosystem has set aside $5 million of Toncoin tokens to reward users for verifying their identity using cutting-edge palm scanning technology, all of which points to a trend in the sector of discovering a solution for digital identity in an increasingly digital world.

The post Iota’s Web3 ID Solution Joins EU Commission’s EBSI appeared first on Coin Engineer.

What is the CTSI token used for?

The main purpose of the Cartesi (CTSI) token is to make node operators compatible with the system. It also contributes Proof-of-Stake system in the network. Besides, users can use tokens for staking and paying fees in the system.

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Who are the founders and partners of Cartesi (CTSI)?

Cartesi was built by Erick de Moura, Augusto Teixeira, Colin Steil, and Diego Nehab in 2018. Serguei Popov, the founder of IOTA, is the first investor of Cartesi. The project has many partnerships with large exchanges. Some of them are as below: Binance, Coinbase, IOTA, Avalanche, MultiverseX, and Chainlink.

Token Distribution and Roadmap

The maximum supply of Cartesi is 1.000.000.000 CTSI. The circulating supply is 742,552,410 CTSI according to data in Coinmarketcap. The Cartesi also is the coin which has rank 183 with a market cap worth is $108,343,914.

Also, the token distribution seen in its whitepaper is as below:

• Foundation 40.22 %
• Mining 25 %
• Team 15 %
• Launchpad sales 10 %
• Private sales 5 %
• Advisors 2.11 %
• Seed Sale 2 %
• Strategic Sale 0.67 %

Roadmap

The team of Cartesi automated the tests to make them have the same processes while the processes are running on Solidity and C++ microarchitecture interpreter. In addition, they helped the system developers to improve their experiments. Besides, a new version with a self-hosted Ubuntu distribution was announced. The roadmap is as below:

Which exchanges we can buy Cartesi (CTSI) tokens?

You can buy CTSI from Binance, KuCoin, Gate.io, Bitget, and MEXC by clicking the links. Besides, you can sign up for the exchanges with a 20% discount.

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