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Digital Chamber Seeks Legislative Protection For NFTs Amid SEC Probe

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The Digital Chamber has called on the United States Congress to pass laws to protect non-fungible tokens (NFTs) from the overreaching Securities and Exchange Commission (SEC). The group wants lawmakers to classify NFTs as consumer products rather than securities. The SEC and other regulators have taken a tighter stance on the crypto market citing the need to protect investors. 

Digital Chamber Backs NFT Laws 

Crypto advocacy group, The Digital Chamber has called on United States lawmakers to pass laws to protect NFTs. In a recent statement, the association wrote that digital collectibles should be treated as consumer products making the sector exempt from federal securities laws. 

This would place NFTs out of the reach of the SEC which continued to double down on its hostile approach to the market. According to the release, the laws should define NFTs for consumer use rather than financial products like securities. 

Congress must act now to ensure that this burgeoning industry remains within the US, for the benefit of the US economy, and not move overseas to more favorable regulatory environments. The Digital Chamber strongly encourages Congress to clarify that Consumptive-Use NFTs are consumer goods and not financial products.”

This comes after the SEC issued a Wells Notice on NFT trading platform OpenSea. Crypto users and market commentators lashed out at the Commission terming it a move that could hinder market innovation. The securities regulator has issued Wells Notices on several crypto firms this year. 

Users Anticipate Clear Rules 

Digital asset users await clear rules to guide market policies against the present enforcement approach. The lack of rule masking in the United States has led to the migration of talent and a proliferation of lawsuits by the SEC. Recently, Coinbase stock plummeted as the court sided with the SEC on the confidentiality of a document.

The upcoming United States elections are another positive on crypto regulation as the sector becomes a mainstream issue. In addition to this, some crypto bills made progress in Congress ahead of the polls. 

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will Dogecoin Price Hit $20 On Its Next Leg Up?

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Analyst Javon Marks forecasts that Dogecoin (DOGE) price is poised for a major rally, potentially reaching $20 during the ongoing bull cycle. Marks’ analysis is based on historical performance trends, which have shown progressively larger price gains in Dogecoin’s previous cycles. Current market activities, including a rebound in DOGE price and increased whale transactions, suggest a promising outlook for the meme coin.

Will Dogecoin Price Surge to $20? Analyst Predicts Monumental Bull Cycle Ahead

In a recent analysis shared on X (formerly Twitter), Javon Marks expressed confidence in Dogecoin’s potential to achieve unprecedented growth during the ongoing bull cycle. His observations highlighted a pattern of progressively larger price gains in Dogecoin’s previous cycles, with the current trajectory suggesting another monumental run.

According to Javon’s analysis, DOGE price cycles exhibit exponential growth during bull runs, with significant surges noted in 2017 (90x) and 2021 (306x). Based on these historical patterns, projections for 2024 suggest a potential surge exceeding 306 times, targeting prices above $20. 

The chart highlights consistent upward trends leading to explosive rallies, driven by market momentum and investor sentiment. If DOGE replicates past performance, the next cycle could see unparalleled highs. 

DOGE priceDOGE price
Source: X

Additionally, Dogecoin price recently rebounded to $0.3226 after touching a weekly low of $0.3097. This movement indicates that the $0.3097 mark could be a potential floor price signaling further upward momentum.

These analyses are in line with recent bullish predictions by Galaxy Research, which projects Dogecoin to reach $1 by 2025. The firm highlights key fundamentals like whale accumulation and Elon Musk’s D.O.G.E. initiatives as catalysts for this growth. While Dogecoin faces competition from other memecoins, its historical growth patterns suggest this target is achievable.

Whale Activity Boosts Dogecoin Ecosystem

The Dogecoin ecosystem has experienced a surge in whale activity, signaling increased interest among large-scale investors. Data from IntoTheBlock revealed that large transactions within the Dogecoin network have risen by 41% in the past 24 hours, with a cumulative transaction value exceeding $23 billion.

This uptick in whale transactions is a positive indicator for the meme coin rally, reflecting heightened market participation and liquidity. The sustained activity in this price range could provide the foundation for a stronger rebound in the midterm.

According to a recent Coingape report, Dogecoin price is signaling a bullish reversal as DOGE whales have accumulated an impressive 90 million DOGE in just two days. This surge in whale activity reflects growing interest among investors and suggests a meme coin rally. Positive on-chain indicators and increased market activity further support this sentiment.

At press time, DOGE price is trading at $0.3224, reflecting a 2.57% increase in the past 24 hours. The meme coin rally market capitalization stands at $47.52 billion, with a 24-hour trading volume of $1.43 billion.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Engineer Predicts Biggest Bull Run Coming Soon for Bitcoin; Here’s All

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With an almost negligible recovery in the last 24 hours, Bitcoin has been stranding around $94k despite hitting the ATH of $108.2k a few days ago. The Bitcoin price performance is also impacting the crypto market, but most experienced investors argue that this is a momentary phase. Interestingly, an engineer believes that the biggest Bitcoin bull run is coming soon, considering the M2 marker.

Understanding the Biggest Bitcoin Bull Run Phase

In a recent tweet, a popular crypto analyst & engineer, Ted Boydston, presented an interesting BTC price analysis, predicting the upcoming Bitcoin bull run phase. According to Ted’s analysis, the price oscillator on the M2 has recently formed, which provides buy and sell signals.  As the M2 money stock analyses the liquid cash circulation, including physical cash (M1), checking deposits, and other near money instruments like saving, money markets, etc, it is a key economic indicator that influences all the financial markets, including the crypto market.

The engineer’s prediction also focuses on the same, as he talks about the Bitcoin price movements and the global liquidity trends. More importantly, the oscillator derived from the PPO of M2 sits at the lower panel. As a result, it flashed the buy signal and entered the green zone. More importantly, historical reports confirm that such signals often head to major money printing and Bitcoin’s manic phase. Eventually, this leads to the famous Bitcoin bull run.

Bitcoin Bull RunBitcoin Bull Run

During this time, investors often witness increased price volatility and rapid price appreciation. Although this signal works pretty well, there was one exception in 2016. It failed to flash a signal back then, as the Bitcoin halving event primarily drove the BTC price rally.

Interestingly, the investor’s expectations are still consistent to witness Bitcoin regaining support and surging past the current ATH of $108.2k.

Expert Bitcoin Price Predictions & Forecasts

Until recently, the biggest target for BTC price was $100k, but that has been achieved, so now the eyes are on what’s more coming. Many crypto analysts have claimed to see Bitcoin price at $150k or even $1M, but the most understandable one is that Bitcoin might reach $225k per Boydston’s analysis.

Boydston talks about the manic phase bull market, wherein each BTC cycle, a top is formed at around 0.382 Fibonacci retracement level. If the same data is put in the current cycle, the BTC price target is $225K with the Bitcoin bull run. Another crypto analyst has come with a similar outlook and predicted that Bitcoin price could reach $225k in June 2025. More importantly, he also predicted a major altcoin season beginning after that.

Bitcoin price predictionBitcoin price prediction

Such similar outlooks increased the probability of that happening for real. One other outlook focuses on Tether’s dominance, which is in a tough spot with its decreasing circulating supply with Europe’s Tether Ban. 

Final Thoughts

Ted Boydston’s analysts’ Bitcoin price prediction has presented a new image of the possible bull market for this cryptocurrency. As the M2 has flashed a buy signal, this has hinted that Bitcoin’s manic phase will begin soon. Interestingly, another crypto analyst has added the timelines to that as the Bitcoin bull run could result in the BTC price hitting $225k in June 2025 before handing over the bulls to the altcoins. This might make hundreds of investors’ dreams come true. However, careful investment and strategic planning are a must, as many factors could hinder this path. More importantly, running the technical analysis and making smart decisions are the keys to returns, not the internet analysts’ prediction, as they vary from time to time and from person to person.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Clean Energy Usage Soar, Tesla To Accept BTC Payments?

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The Bitcoin mining ecosystem is evolving at a very fast pace with visible progress in its utilization of clean energy. According to data insights from Woocharts, the percentage of clean or sustainable energy used in mining is now pegged at 56.76%. This reading has triggered a recall of an earlier promise from Elon Musk regarding Tesla Inc’s disposition to Bitcoin payments.

Tesla and the Bitcoin Payments Promise

According to the Woochart, the BTC clean energy usage has grown steadily since at least April 2021. The platform measures this clean energy usage using the Cambridge Center for Alternative Finance definition of sustainability in its computations.

Bitcoin Clean Energy Usage
Bitcoin Clean Energy Usage. Source: Woocharts

The metric plotted hinges on the percentage of crypto mining sourced from energy sources like Wind, Solar, Hydro and even Nuclear. That this sustainable mining operation is above 50% means a lot for the industry. It might help usher in the adoption of the coin by top corporations like Tesla.

Recall that in 2021, Elon Musk’s Tesla bought $1.5 billion worth of BTC. Per recent report, the firm still have 11,509 BTC in its reserve as of the third quarter of this year. At the time it made the purchase, the firm also announced the acceptance of Bitcoin as a payment method.

The electric car maker shortly discontinued the payment option, citing the high energy usage of the coin. In a June 13, 2021 post, he said if the coin achieves approximately a 50% clean energy usage, Tesla will resume its Bitcoin payments.

One major hurdle now remain whether the data source is enough to make Elon Musk make good on his promises.

BTC Miners Diversifying 

Over the past years, firms like Riot Platforms, MARA Holdings and other Bitcoin mining have intensified investments in clean energy. However, the costs of mining has continued to grow amid current global energy crises. To beat the situation, most of these miners are diversifying their excess capital to buy Bitcoin.

MARA Holdings and Riot Platforms are championing this move. Following its latest purchase of 667 BTC units, Riot Platforms now hold a total balance to 17,429 BTC on its balance sheet.

The plan is to properly hedge their capital and benefit from the coin’s growth, a strategy that has led to the inclusion of pioneers like MicroStrategy in Nasdaq-100 index.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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