Monat: Januar 2025

While cryptocurrencies have pared most gains seen this week as the market rallied ahead of President Donald Trump’s inauguration, analysts are upbeat about potential upside breakout for Bitcoin (BTC) and altcoins.

The past 24 hours have seen BTC retrace to support above $100k, while Solana held above $230 after a double digit dip. What does the outlook for BTC and SOL suggest for iDEGEN (IDGN), the AI agent crypto project that’s raised more than $17.4 million in presale?

Bitcoin, Solana prices dip after Trump inauguration

On Jan. 20, the day Donald Trump was inaugurated into office as the 47th US president, Bitcoin rose to a new all-time high of $109k. The gains however paled compared to the staggering pumps that Trump family’s meme coins witnessed.

OFFICIAL TRUMP (TRUMP) and Official Melania (MELANIA) pumped so hard, their respective market caps instantly put them among the top 100 crypto projects. Despite the bullish anticipation, these meme coins have crashed in the past 24 hours, with TRUMP down more than 30% at the time of writing.

Trump not mentioning crypto on the inauguration day acted as a downward catalyst for most altcoins. Bitcoin also shed gains to reach lows of $100,101. Meanwhile, Solana retreated to $231 – losing the uptrend after it hit the all-time high of $294 on Jan.19. Incidentally, SOL rose as TRUMP and MELANIA meme tokens took the market by storm.

BTC, SOL price prediction

According to crypto analyst DonAlt, an executive order around Bitcoin could send BTC flying out of the blocks to a new ATH. The analyst says BTC holding above $100k despite the downward pressure is a key indicator of the market’s resilience.

SOL could rally to a new all-time high if buyers breakout above $245, another crypto analyst has predicted.

What is iDEGEN?

Meme coins aside, a crypto segment that has in the past few months attracted massive attention include AI agents. iDEGEN stands out as one of the projects looking to dominate as both the presale and AI agent gather pace.

iDEGEN started with a premarket auction before adopting a stage-based presale for the IDGN token. In both approaches, the project witnessed a remarkable surge in community support, with the raised amount quickly surpassing the $10 million mark.

iDEGEN price forecast

While an AI experiment in the ilk of other top agentic projects, iDEGEN’s standout proposition is its “degen raised” feature. Being an AI agent with an unfiltered access to interaction and training via X has nonetheless landed iDEGEN in trouble.

But the potential the project has within the ecosystem means successive bans on X have only hyped it further. IDGN price has increased to $0.0121 and will rise to $0.0133 in the next stage. By the time iDEGEN lists on major exchanges, IDGN will be priced at $0.038. This indicates a potential 214% return from the current level.

So far, those that entered the presale when iDEGEN’s token offering went live are looking at an increase of 10,900%

Where iDEGEN trades after it launches in the market will depend on multiple factors, including market conditions. As noted here, the IDGN presale will end on Feb. 26 and project listing on Feb. 27.

To learn more about iDEGEN and its presale, check out the official website.

The post iDEGEN price prediction as BTC, SOL hold key support levels appeared first on CoinJournal.

• Utah bill aims to allow state funds in crypto.
• The bill limits investments to high-cap or stablecoins.
• Security is assured through encrypted key storage.

In a groundbreaking move towards embracing digital finance, Utah has introduced a bill titled “Blockchain and Digital Innovation Amendments (H.B. 230)“, which would allow the state’s treasury to invest in cryptocurrencies.

The bill, presented by State Representative Jordan Teuscher, seeks to integrate blockchain technology into the state’s financial strategy, marking Utah as a potential pioneer in state-level cryptocurrency investment.

10% of key state accounts to be invested in crypto

Under the proposed legislation, the Utah State Treasurer would be empowered to allocate up to 10% of several key state accounts into digital assets.

These accounts include the State Disaster Recovery Restricted Account, General Fund Budget Reserve Account, Income Tax Fund Budget Reserve Account, and Medicaid Growth Reduction and Budget Stabilization Account.

This move is aimed at diversifying state investments and potentially reaping benefits from the volatile yet lucrative crypto market.

To qualify for investment, digital assets must either have a market capitalization exceeding $500 billion, averaged over 12 months, or be stablecoins with stringent backing requirements, like being supported by the US. dollars or high-quality liquid assets, alongside regulatory approval. This criterion effectively narrows down the investment options to major players like Bitcoin or select stablecoins.

To cater for the security of the investments, the H.B. 230 bill mandates that cryptographic private keys be stored in highly secure, encrypted environments accessible only through end-to-end encrypted channels. Additionally, hardware containing these keys must be housed in at least two geographically diverse secure data centres, ensuring robust protection against cyber threats.

The legislation also champions individual rights by prohibiting any state or local government entity from restricting the use of self-hosted or hardware wallet solutions for personal custody of digital assets.

This initiative aligns with a growing trend across the US, where states like Oklahoma, New Hampshire, and Texas are also exploring similar avenues for crypto investment or donation.

If passed, H.B. 230 would come into effect on May 7, 2025, positioning Utah at the forefront of state-led crypto investment in America. The bill reflects a broader commitment to technological innovation and fiscal sovereignty in the face of evolving financial landscapes.

The post The state of Utah proposes investing public funds in crypto appeared first on CoinJournal.