On-chain data suggests the Bitcoin whales may have participated in a significant amount of buying while the market was panicking about the recent lows.

Bitcoin Exchange Netflow Has Been Quite Negative Recently

An analyst in a CryptoQuant Quicktake post pointed out that the exchanges have recently seen outflows. The indicator of interest here is the “exchange netflow,” which keeps track of the net amount of Bitcoin entering or exiting out of the wallets of all centralized exchanges. The metric’s value is calculated by subtracting the outflows from the inflows.

When the indicator has a positive value, the inflows overwhelm the outflows, and a net number of coins moves into these platforms.

As one of the main reasons investors may want to deposit their BTC to the exchanges is for selling purposes, this trend can have bearish implications for the cryptocurrency.

On the other hand, the negative metric implies withdrawals are taking place, which can be a sign that the holders are accumulating right now. Such a trend could naturally turn out to be bullish for the asset’s price.

Now, here is a chart that shows the trend in the Bitcoin exchange netflow over the past year:

The above graph shows that the Bitcoin exchange netflow has observed some deep negative spikes recently. This suggests that some large outflows have been occurring from these platforms.

Interestingly, these withdrawals came as BTC slipped towards the $41,600 level, implying that some investors were potentially buying while the rest of the market was panicking about the drawdown.

Given the large scale of the deposits, it’s likely that whale entities were behind them. The fact that these humongous holders were willing to risk accumulating at these recent prices could be a positive sign for the continuation of the rally.

Microstrategy has also just announced its massive $615 million BTC acquisition, which can naturally be another optimistic sign for the coin. The exchange netflows occurring ahead of the announcement are interesting, though.

It’s hard to be sure if there is any connection between the two, but one possibility is that the whales who bought at these recent lows knew about the acquisitions ahead of time.

Another, and perhaps the more likely explanation, is that these large investors were looking for an entry point into the asset ahead of the potential ETF approvals, and the dip presented as good an opportunity as any to achieve so.

Whatever the case, it would seem like the moves made by the whales might have paid off so far, as the Bitcoin price has rebounded since its lows (although its recovery hasn’t been too strong yet).

BTC Price

Bitcoin had recovered to as high as $43,800 during the past day, but the asset has since slumped back down as it’s now floating around the $42,800 mark.

Another year, another Crypto Christmas special for our team at NewsBTC. In the coming week, we’ll be unpacking 2023, its downs and ups, to reveal what the next months could bring for crypto and DeFi investors.
Related Reading: A Crypto Christmas Special With Jlabs Digital: Past, Present, And Future

Like last year, we paid homage to Charles Dicke’s classic “A Christmas Carol” and gathered a group of experts to discuss the crypto market’s past, present, and future. In that way, our readers might discover clues that will allow them to transverse 2024 and its potential trends.

Crypto Christmas With STORM: Bitcoin ETF Should Be Out Of Your Wishlist?

For today’s issue, our team got to chat with Sheraz Ahmed, Managing Partner at blockchain solutions provider STORM and founder of Decentral House. Ahmed has been present at some of the most important crypto events in 2023 and is constantly speaking with founders, organizations, and relevant actors within and outside the nascent sector.

Thus, Ahmed has a unique perspective on the industry, its blindspots, and possible catalyzers. During the interview, we talked about the downside of approving a Bitcoin spot Exchange Traded Fund (ETF) in the United States and why the space might be unprepared for a new bull cycle. This is what he told us.

Q: Our team has coincided with you in several crypto events this year; where do you think most of these events coincide? And what do you believe has been overlooked during 2023, a narrative, a project, something people missed as the industry enters another cycle?

Switzerland, Europe, Dubai, Singapore, and Rio (de Janeiro). I do believe that we are too early for the next cycle. The broken models of the last bull run are yet to be rebuilt. Infrastructure has improved, custody, wallets, exchanges, and stablecoins, but the business models for Dapps (Decentralized Applications) have not evolved.

I fear that we enter into another vaporware cycle and, at best have to wait 4 more years for real use cases/adoption or risk burning ourselves completely with shitcoins and scams.

Q: As Crypto enters a new cycle, what’s different about the industry when you compare it to early 2021 and 2017? Where can investors see the growth? Is it in the players joining the industry, the financial products, or in its community?

There is a bit more maturity, although that sometimes just feels like the veterans are just numb to the pain this industry can self-inflict. We do see genuine interest from large institutional players in the financial, consumer, and impact fields. But can we convert those ideas into adoption?

Investment in utility and payment tokens is an oxymoron. They are not meant to be investment products and are not regulated as such. An investor could look into an infrastructure play, although I believe that is quite saturated today at approx. $700M. My bet would be early-stage protocol ecosystem funds (equity-based), with a portion of that taken in tokens for the utility of governance, etc., that might be attached.

Q: The upcoming approval of a spot Bitcoin ETF in the US seems like the perfect indicator that crypto has made it to the mainstream, but what’s the next frontier? Where does the industry go from here?

I don’t agree. For me, it just sounds like the bankers finally believe they can make money off our industry. Now, does that mean it’ll be good for prices in the short term and more eyeballs? Yes. But be careful what you wish for, as when the heavy artillery comes in, they crush everything/everyone in their path.

In 2023, we founded Decentral House. An innovation centre focused on blockchain-based application that provide the infrastructure to spark ideas to life. I believe that by having the right tools in your arsenal, you can navigate the Web3 space to find the light at the end of the tunnel. Without the right guidance, WANGMI (We Are Not Gonna Make It). Let’s work together to create an industry of trust we can all be proud of!

Cover image from Unsplash, chart from Tradingview

Popular crypto analyst JD, known for predicting XRP’s bottom at the $0.28 price level, has warned of a batch of ‘dumb money’ traders missing on the next XRP price surge. According to JD, this set of traders may overlook the opportunity to get on before the next price surge, drawing parallels to past XRP price action. 

Analyst JD Draws Parallels To Past XRP Trends

Despite the volatile nature of the crypto market, most cryptocurrencies are known to repeat or mirror past phenomena in their price action. As a result, it is very common for crypto analysts to look at the past and assess current trends when trying to predict the future movement of cryptocurrencies.

The expert compared the present price pattern to 2017, which was the year that XRP finally broke its boring price action that lasted from 2013 to 2017. A look through this cycle shows XRP underperforming when compared to other cryptocurrencies. As a result, the ‘dumb money’ traders complained and bolted, causing them to miss the astounding gain that came after. 

However, XRP would then go on a 600x price gain after breaking out of the 4-year consolidation trendline. As a result, the crypto reached as high as $3.84 in January 2018, its current all-time high.

XRP has had its ups and downs this year stemming from different updates within the Ripple ecosystem. The crypto went on a price surge in the middle of the year, reaching a yearly high of $0.82 in July. XRP has traded below this price point since then, despite most cryptocurrencies registering new yearly highs in the last quarter of the year. 

JD noted that XRP’s price action is currently mimicking the point at which it broke out of the consolidation in 2017, warning of ‘dumb money’ traders who might miss out on the next potential price surge.

#XRP – I remember 2017 when “Dumb money” capitulated after 4years of “boring emotional” action while other coins

“Dumb money” complained & capitulated missing the 600x gain LOL!

Present pattern looks exactly like 2017. Need more dumb money to complain before LOL! $XRP… pic.twitter.com/tbyckfYA8V

— JD (@jaydee_757) December 26, 2023

XRP Price Target

XRP has grown massively since its 2017 days and now has a market cap of over $34 billion. When asked about a potential price target, JD noted that the repeat of a 600x in the case of a breakout would be unrealistic at this point. An 8-10x surge is more likely according to the current technicals. With XRP currently trading at $0.639, a 10x price surge would make a price target just over $6.

In another chart shared by the analyst, he noted that XRP’s price is currently forming a cup and handle formation in the 2-day timeframe. If this formation holds, a bullish breakout would see XRP reaching a $0.95 price target.

#XRP – As long as handle does not break down 50% of the size of cup, then C&H is in play!

This may be what we need for Symmetric triangle to breakout on Log Scale! Loaded up at 0.28, 0.33, 0.45, 0.52, and 0.59 during FEAR! Be ready both ways!

Retweet/like for updates!… pic.twitter.com/T67EhrHKO2

— JD (@jaydee_757) December 28, 2023

Amidst PancakeSwap’s proposal to burn 300 million CAKE and reduce the total supply from 750 million to 450 million CAKE, on-chain data indicates that a whale has been moving a significant amount of CAKE, the decentralized exchange’s governance token.

Whale Is Moving Tokens As Key PancakeSwap Voting Event Proceeds

According to a report from Scopescan, a blockchain analytics platform, a whale has moved approximately 1.7 million CAKE worth $1.3 million in the past week from Binance, Gate.io, and Bitget to a series of crypto addresses. The timing of this transfer is noteworthy since it coincides with key voting that would permanently shape PancakeSwap’s tokenomics.

The proposed token burn is gathering significant support, with over 90% of CAKE holders in agreement. According to the proposer, reducing the total supply to 450 million CAKE is reasonable. It would also ensure sufficient supply for future growth while achieving “ultrasound CAKE.”

Herein, the idea is to make CAKE deflationary over the long term, and this may support prices as PancakeSwap continues to play a vital role in token swapping in the broader BNB Chain ecosystem. 

According to DeFiLlama data, PancakeSwap is the largest DEX in the BNB Chain ecosystem, with a total value locked (TVL) of $1.6 billion, commanding roughly half of the network’s TVL of around $3.5 billion. Notably, PancakeSwap has been resilient and continues to evolve, shaking off competition even after the deployment of Uniswap v3 on the BNB Chain.

In the past 24 hours, PancakeSwap has generated over $815,000 in fees, more than 7.5X that of Venus, a lending protocol, the second largest in the BNB Chain ecosystem.

Is CAKE Ready For $10? 

Notably, the token burn proposal also comes when PancakeSwap is undergoing significant changes, including the recent introduction of veCAKE and Voting gauges, whose voting concluded on November 22. With this proposal passing with over 99% community support, veCAKE holders can now vote on where future CAKE farm emissions will be directed.

This gives CAKE holders greater governance influence. Supporters maintain that this crucial decision makes the DEX more decentralized and community-facing.

Ahead of PancakeSwap’s plans to burn 300 million CAKE, prices have been rallying. From the weekly chart, CAKE is up by over 260% from 2023 lows, roaring as demand increases. While bullish, bulls are yet to reverse losses of this year. A critical resistance level remains at around $5. A solid, high-volume break above this line could propel CAKE to around $10 in the coming months.

LuckSide, a crypto analyst, has weighed in on the price action of Cardano (ADA), giving an analysis of the near-term price performance of the crypto asset. 

Cardano (ADA) Poised For Bullish Or Bearish Trajectory

The crypto analyst recently shared his predictions for Cardano (ADA) with the crypto community during one of his YouTube videos. In the YouTube video – “CARDANO ADA – MOMENT OF TRUTH!,” LuckSide asserted that ADA is at a critical crossroads.

The analyst revealed a technical projection that indicates ADA is about to undergo a major price shift. According to him, this is either a bullish or a bearish trajectory in the near future.

LuckSide finds signals that are pointing in the direction of a significant price shift, after analyzing ADA’s price charts. This analysis is centered on the significant price gap in the Cardano native token.

LuckSide asserted that the gap is “where the highest concentration of liquidity is located for ADA.” This is marked by ongoing selling pressure at the resistance level between “$0.60 and $0.67,” in sharp contrast to a $0.40 level. 

This gap denotes an unexplored area and suggests a potential strong move, given ADA’s price history. He noted that Cardano could either rise to test the resistance level around $0.70 or drop to the $0.40 support level.

The crypto expert also pointed out signs of robustness and strength of ADA in his video. The stability of pivotal support levels and moving averages underscores the strength of the crypto asset.

The larger market indicators, such as the volatility and price stability of Bitcoin (BTC), further support this resiliency. The analyst also attributed the market’s movement to the impending Bitcoin Halving event in Mid-2024, due to its market impact. 

However, LuckSide notes that unforeseen circumstances have the potential to change ADA’s direction while conceding the unpredictability of the market. He further added that although, a decline to $0.40 “might create opportunities to buy the token at a lesser price.”

The Network’s Growth Is Similar To Bitcoin

Charles Hoskinson, the founder of Cardano recently underscored the network’s growth, acknowledging that it mimics the natural growth of Bitcoin. The founder took to X (formerly Twitter) to celebrate the network’s performance with the community.

In the X post, Hoskinson stated that he has been observing with “glee as some people worry about Cardano’s blocks filling up.” He further reminded the community about the criticism of the network being a useless “ghost chain,” with no liquidity.

Hoskinson has assured the community that “Cardano is designed to handle these loads.” He noted a “huge design space” that optimizes the network and DApps for greater scalability in the short and long term.

In addition, he has highlighted the network’s victories without Venture Capital (VCs), the media, or influencers. 

Crypto analyst Egrag Crypto recently shared an interesting story of his discussion with a top banker regarding the XRP price. The discussion centered around XRP, with Egrag and the banker analyzing how the altcoin could be worth $2,500 in the near future. 

XRP Price To $2,500 Is A Possibility

Talks about XRP hitting $2,500 arose when the banker challenged Egrag to explain how 40,000 XRP could end up equalling $100 million. The banker was aware of Egrag’s knowledge of technical analysis and, from the story, seemed to have posed the question to see if Egrag believed XRP could attain such heights of $2,500.

The crypto analyst took up the challenge and explained to the banker, using a chart that he shared in his post, how XRP will hit $2,500. Egrag did justice with his explanation as the banker had nodded in agreement. The banker also went on to pinpoint how the financial cycles were aligned for the token to achieve this price action.

From the chart, the XRP price hitting this price level could happen by 2029. That is why the banker sees the altcoin as a long-term investment, as he says that holding the altcoin till then could yield incredible rewards. The crypto analyst provided insights into this banker’s wealth of experience as he is said to boast connections across all spheres in the banking and finance sector. 

The banker had also alluded to how Ripple’s CTO, David Schwartz, had raised the prospect of 40,000 ETH being equal to $100 million. Then, it might have sounded implausible to many, but it has somehow materialized. He sees the same thing happening with XRP, just that this time, it could take longer, considering that ETH hit $2,500 in a shorter period. 

Holders Need To Be More Patient 

Egrag has continued to reiterate that patience is key if XRP holders want to enjoy huge returns on their holdings. Going by this recent prediction, the XRP price could make a 390,000% gain for investors by 2029. However, it will require a lot of belief and perseverance if these holders hope to partake in such a mammoth gain. 

In the meantime, the analyst is encouraging the community to accumulate as much XRP as they can. He stated that the banker told him that the crypto token could be the “ultimate savior” for liquidity when the tides slow down. This is a possibility, especially considering that a crypto founder had recently asserted that the crypto will surpass Bitcoin. 

At the time of writing, the XRP price is trading at around $0.64, up by over 3% in the last 24 hours, according to data from CoinMarketCap. 

In the dynamic realm of cryptocurrencies, Axie Infinity’s AXS token has embarked on a remarkable ascent, witnessing an impressive surge of over 35% in the past 24 hours and currently trading at $9.26. This rally catapults AXS to the forefront of gaming cryptocurrencies, boasting a market capitalization of $1.4 billion and a circulating supply of 132 million coins.

The driving force behind this impressive upswing can be traced to a recent major game update, which introduces a transformative element to the Axie Infinity ecosystem.

Axie Infinity’s Evolution Transforms Game Economy

This update focuses on the evolution of Axies, creatures analogous to Pokemons, offering players the opportunity to enhance their digital companions with additional features and abilities.

Beyond the surface modifications, this evolution introduces a deflationary mechanism that radically modifies the Axie Infinity economy. This system can lower the total number of Axies, which would raise the value of already-existing Axies and strengthen ties between players and their virtual counterparts.

However, amidst this surge, a note of caution emerges. The market’s rebound and Bitcoin’s push towards $45,000 have fueled momentum in AXS’s price, but concerns loom over a potential sharp correction.

Impatient holders, grappling with losses, are becoming a focal point of concern. The surge prompted a significant number of sellers to liquidate their positions, with data from Coinglass indicating approximately $2.4 million in short positions liquidated, defying bearish predictions.

As the market adjusts, the data reveals a potential for a significant correction. The number of profitable addresses has increased to nearly 30%, yet it is eclipsed by the 51,000 holders currently in the red.

This scenario suggests that the ongoing upward trend in AXS price might entice loss-incurring holders to exit the market in an effort to minimize their losses.

AXS Technical Analysis: Key Levels And Caution

In terms of technical analysis, AXS has established key resistance levels at $10.41, $11.37, and $12.01, with immediate support at $9.09 and additional support at $8.54 and $8.06.

#AxieInfinity (AXS) showcases dynamic market movement! Trading near $9.73 with key resistances ahead. RSI at 81 signals strong buying trend, but caution advised. Bullish above $9.70 with eyes set on surpassing $10.41. Stay tuned for more updates! #Crypto #TradingTrends

— Arslan Ali (@forex_arslan) December 25, 2023

The Relative Strength Index (RSI), a crucial indicator of market sentiment, is currently at an elevated level of 81, signaling an overbought condition. While this suggests a strong buying trend, caution is advised, as an overbought condition may indicate the potential for reversals in the market.

Axie Infinity’s AXS has undergone a remarkable surge fueled by a significant game update, amplifying excitement in the digital asset landscape as the new year approaches.

Despite the positive momentum, caution prevails, with market participants wary of a potential correction and the impatience among holders grappling with losses.

The unique economic dynamics introduced by the game update add a layer of intrigue to AXS’s trajectory in the ever-evolving cryptocurrency market.

Featured image from Shutterstock

In a strategic move that has effectively caught the attention of the crypto space, Microstrategy has once more fortified its Bitcoin portfolio, strengthening its position as the largest corporate holder of BTC globally. 

MicroStrategy Boost BTC Holdings

In a recent filing on December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, Microstrategy has increased its Bitcoin holdings by 14,620 BTC valued approximately at $615.7 million. 

“On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between November 30, 2023, and December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 bitcoins for approximately $615.7 million in cash, at an average price of approximately $42,110 per bitcoin, inclusive of fees and expenses,” the report stated.

It added:

As of December 26, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 189,150 bitcoins, which were acquired at an aggregate purchase price of approximately $5.895 billion and an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses.

The founder and Chairman of Microstrategy, Michael Saylor also announced the company’s substantial BTC purchase via his X (formerly Twitter) handle. This move has sparked curiosity among crypto enthusiasts and investors, prompting questions about the crypto investor’s ultimate strategy and motivations behind the company’s accumulation of substantial amounts of Bitcoin. 

Microstrategy’s strategic BTC investment also stealthily comes as the anticipation of Spot Bitcoin ETF grows. The significant BTC purchase raises the possibility of the company having information that could place it in a strong position to potentially profit from the Spot Bitcoin ETF craze while simultaneously leading the 2024 Bitcoin bull run cycle. 

MSTR Stocks Surge Amidst Bitcoin ETF Frenzy

As Microstrategy ramps up its BTC portfolio on one front, concurrently, the company witnesses a surge in its stock value. The business intelligence software company has seen its MSTR stock performance skyrocket by over 300% in 2023. At the time of writing, the price of MSTR is trading at $613.80 with a 15.25% increase in the past five days according to Market Watch. 

This price surge can be largely attributed to the expectations surrounding the Bitcoin Spot ETF in the United States. The crypto industry is presently watching as the SEC approaches the crucial deadline to either deny or approve  Spot Bitcoin ETFs. The final date of the SEC’s Bitcoin ETF decision has already been scheduled for January 10, 2024.

In the whirlwind landscape of cryptocurrency, the Mina Protocol has taken center stage with an extraordinary 47% surge in its native token, MINA, within the past week.

Currently riding high at $1.40, a level not witnessed since May 2022, MINA’s impressive rally has ignited contemplation among investors: Can it breach the elusive $2 mark in the immediate future?

Mina’s Surge: CEO Appointment And Swiss Relocation

This surge in MINA’s value is not a mere coincidence; it’s the result of a convergence of significant developments that have unfolded in recent weeks.

December 19 marked a pivotal moment when the Mina Foundation announced the appointment of Kurt Hemecker as the new CEO, a distinguished business development specialist in the FinTech space.

Simultaneously, the foundation strategically relocated its operations to Geneva, Switzerland, amplifying the positive sentiment surrounding MINA due to anticipated regulatory benefits and enhanced networking opportunities within the cryptocurrency community.

Another driving force behind MINA’s remarkable surge is the introduction of the Paima ZK layer. A collaborative effort involving Paima Studios, Mina, ZekoLabs, and Class Lambda, this layer represents a groundbreaking leap in blockchain gaming technology.

It can deploy Zero-Knowledge (ZK) proofs to any Layer 1 (L1) ecosystem, supporting both EVM and non-EVM codebases. The layer’s innovative capacity to enable dynamic scaling of on-chain games, akin to the traditional “world select” in web2 games, adds a novel dimension to MINA’s utility.

The Mina Foundation Board appoints Kurt Hemecker (@khem) as CEO to champion adoption of @MinaProtocol’s ZK tech.

Kurt, previously COO, brings two decades of business development experience from major players including @DiemAssociation and @PayPal.

1/3https://t.co/W1old4fmxJ

— Mina Foundation (@MinaFoundation) December 19, 2023

MINA Faces Resistance At Recent Highs

Despite the positive momentum, MINA encounters initial resistance at its recent peak of $1.48, with additional overhead resistance noted between $1.5817 and $1.6337.

While the broader trend remains upward, cautious optimism is warranted as short-term oscillators hint at early signs of peaking momentum, prompting vigilance among traders and investors alike.

Meanwhile, Sebastien Guillemot, the principal developer at Cardano, alluded to significant advancements for the blockchain in 2024 in a recent X post.

With Ethereum sentiments being in the dumps right now, I’d just like to say working with Arbitrum (@arbitrum) has been a great experience

Expect more projects that combine Arbitrum with @cardano and @MinaProtocol in the 2024

— Sebastien Guillemot (@SebastienGllmt) December 26, 2023

Guillemot’s expressed enthusiasm about collaborating with Arbitrum suggests a potential fusion of Cardano with Arbitrum and Mina Protocol.

Paima Studios, under Guillemot’s leadership, has already contributed to the progression of Layer-2 solutions, releasing a solution for Cardano’s on-chain gaming this year.

The alignment with Arbitrum and Mina Protocol points toward a paradigm shift in the blockchain landscape, promising further innovation and seamless integration.

Featured image from Shutterstock

In the tumultuous world of cryptocurrency, few names have resonated as powerfully in 2023 as Arbitrum (ARB). The crypto juggernaut has rapidly ascended the ranks, outpacing industry stalwarts and marking its territory in the competitive landscape.

As the demand for its network reached a fever pitch, developers flocked to Arbitrum, surpassing the likes of Polygon, Optimism, Avalanche, and even the formidable Solana.

The meteoric rise of ARB isn’t just a spectacle; it’s a testament to its resilience and adaptability. In the latest twist of the crypto bull run, ARB has displayed an impressive recovery, trading at an enviable $1.62.

ARB Shows Mettle With 42% Rally In Weekly Charts

A formidable 25% surge in the last 24 hours and a solid 42.4% increase over the past week underscore the coin’s enduring strength as Arbitrum buckles up for major partnerships in 2024.

The journey from its yearly low has been remarkable, witnessing an 80% surge that catapulted its market cap beyond the $1.6 billion mark. It’s a stark contrast to the all-time high of $8.67, a summit conquered just nine months ago.

Arbitrum’s allure extends beyond price dynamics; it boasts a burgeoning ecosystem teeming with renowned developers. According to DeFi Llama, its Total Value Locked 24.3% surge in the last 24 hours

Arbitrum Unveiled: Ethereum’s Scaling Prodigy

Specifically created to support Ethereum’s scalability, Arbitrum is a decentralized platform. By scaling Ethereum, Arbitrum provides users with an Ethereum-like platform where they may engage in on-chain activities at a lower cost than what they would pay on the Ethereum mainnet.

The Ethereum submodules known as Arbitrum rollups power Arbitrum. The rollups remove the requirement for Ethereum nodes to validate arbitrum transactions, suggesting that Ethereum will accept the Arbitrum layer’s credibility for on-chain operations from the standpoint of “innocent until proven guilty.”

With over 50% YoY growth in developer headcount, the Arbitrum chain is among the fastest-growing Layer 2 solutions, according to the 2023 Developer Report. The ecosystem currently consists of a wide variety of components as a result of this exponential expansion in development.

On March 23rd, Arbitrum orchestrated a groundbreaking airdrop, disbursing 1.27 billion ARB tokens to over 600,000 eligible wallets. This spectacle coincided with a surge in daily transactions, hitting a single-day high of 2.73 million, as reported by Arbiscan.

With Ethereum sentiments being in the dumps right now, I’d just like to say working with Arbitrum (@arbitrum) has been a great experience

Expect more projects that combine Arbitrum with @cardano and @MinaProtocol in the 2024

— Sebastien Guillemot (@SebastienGllmt) December 26, 2023

Meanwhile, DCSpark and Paima Studios co-founder Sebastien Guillemot have discussed the possibility of working together in 2024. A member of the Cardano community and software engineer Guillemot wrote on X, predicting additional projects in 2024 that integrate Arbitrum with Cardano and Protocol.

Guillemot thinks that merging both platforms will be beneficial, especially given Ethereum’s current market conditions.

Featured image from Freepik