GM Explorer,

Gary Gensler is officially bidding farewell to the crypto industry, and let me tell you, the community is buzzing!

Here’s what we got for you today:

•  💼 Gary Gensler steps down!

• 📈 Solana’s comeback: From collapse to new heights!

• 🔎 Market Insight

• 🧱 Around The Block: Satoshi Nakamoto is now the 18th richest person in the world.

💼 Gary Gensler Steps Down!

It’s official, folks!

Gary Gensler, the SEC Chair popularly regarded as crypto’s biggest buzzkill, will step down on January 20, 2025.

That just happens to be the day Donald Trump kicks off his second presidential term!

But we guess it was expected, given that Trump publicly vowed to fire him the second he steps into office.

So, it’s probably a good idea to make his exit first. More dignified, right?🤷‍♀️

But here’s the thing:

While Trump as president might have the authority to fire and pick a new SEC Chair, he absolutely can’t force an incumbent to leave before their term ends.

So, Gensler's voluntary resignation has been greeted with cheers from the crypto community, which has called it the best thing he’s ever done for the industry.

Ouch! But can you blame them?

Since taking office in 2021, Gensler has been on a relentless mission to regulate crypto in the most unfriendly manner — at least, that's what the crypto community says.

He’s launched over 100 actions against crypto firms and declared around 10,000 tokens securities that need to be registered and disclosed properly.

He also approved Bitcoin spot ETFs (which was a good thing), but he still managed to frustrate investors at every turn.

Safe to say, the crypto world won’t be shedding any tears over his departure.

Now, the big question is: What’s next? Or, more specifically, who’s next?

Trump has been vocal about his vision to turn America into the “crypto capital of the world.”

To make that happen, he plans to replace key agency heads with individuals who are more crypto-friendly.

Rumor has it that Summer Mersinger, a Republican CFTC commissioner who advocates for a more relaxed approach to crypto, could be in line for a major role at the CFTC.

And that’s not all.

Trump is reportedly considering creating an entirely new White House position dedicated solely to crypto policy.

In short, Trump’s dream of making America the “crypto capital” is starting to take shape, and whether we like it or not, Gensler’s voluntary exit could be the spark that ignites it all.

Guess we’ll just have to wait and see who ends up holding the keys to the crypto kingdom.

Here’s the full report!

📈 Solana’s Comeback: From Collapse to New Heights!

Solana’s native token, SOL, is making waves with a jaw-dropping recovery.

The collapse of Sam Bankman-Fried's FTX and Alameda Research, key backers of the Solana ecosystem, sent the token spiraling to shocking lows.

SOL plummeted to as low as $8 late in 2022!

Fast forward to today, and SOL has soared to an impressive trading price of $259.76 (as of this writing).

Not only is it up nearly 360% year over year, but it has shattered its previous all-time high reached in October 2021.

What’s fueling this meteoric rise?

A perfect storm of catalysts: soaring decentralized finance (DeFi) activity on the network, the meme coin craze, and increased institutional interest.

Even the recent election of a crypto-friendly Donald Trump has also supercharged optimism.

For one, as Fox News reported, the chances of having a U.S.-based spot Solana ETF have increased greatly.

Plus, the news that Gary Gensler, one of crypto’s foes and current SEC chair, plans to resign the day Trump takes office in January has most crypto enthusiasts celebrating.

All these factors have contributed to Solana’s turning point; let's hope the upward trend continues!🤞

For more insights, click here!

🔎 Market Insight

Yesterday, we cautioned you against making hasty decisions and emphasized that patience will serve you better at this stage of the bull market.

We suggested either dollar-cost averaging (DCA) into strong altcoins or simply holding onto your current investments.

Many altcoins had a nice bounce after our newsletter yesterday.

But the key question is: How do you know if you hold a strong altcoin?

There are several ways to determine this, but we prefer to keep it simple.

Here are the two metrics we use:

1. Bull Market Support Band (Which is the 20-week SMA & the 21-week EMA)

2. ALT/BTC Ratio

1. Bull Market Support Band (BMSB): Throughout Bitcoin's history, the bull market support band (BMSB) has served as an excellent support area during bull markets and strong resistance during bear markets.

Look at the chart below; you'll notice how Bitcoin often bounces when it approaches these moving averages.

Notice how whenever Bitcoin makes a sustained move above the BMSB, it often marks the end of the bear market.

When you apply the BMSB to your Altcoin, if your Altcoin is below the band, it will likely remain so for some time.

Ideally, you want to see your altcoin well above the band (or at the very least showing signs of getting back above the band).

SUI, SOL, and DOGE are examples of altcoins are well above the BMSB. Take a look at the SUI/USD chart below.

2. ALT/BTC Ratio: Here, we apply the bull market support band concept to your altcoin's BTC ratio. This can provide an even clearer picture of your Altcoin's performance.

For instance, when you analyze the BMSB on the SUI/BTC pair, you can see it is well above the band, indicating a strong altcoin.

Think about it: Bitcoin is the safest asset in Crypto but often offers low to moderate gains compared to the rest of the Crypto market.

So, If your altcoin isn’t outperforming Bitcoin, is it really worth holding?

It might be better to invest your money directly into Bitcoin instead.

Here's an example of a popular altcoin that has recently lost its BMSB in both its USD and BTC pairs: FET, the AI coin.

FET might eventually rise above the BMSB, but until then, we prefer to invest our funds elsewhere.

Remember, don’t become too attached to any coin; your goal here is to make money, not to blindly hold onto something that could continue to lose value over time.

NOTE: When we use the BMSB, we often look at only the weekly or monthly charts.

To Add the Bull Market Support Band to your chart in Trading view:

1. Click Indicators (at the top of your screen)

2. Type "Bull Market Support Band” in the Search area that shows up afterward.

🧱 Around The Block

• Satoshi Nakamoto is now the 18th richest person in the world.

• FTX expects the reorganization plan to take effect in January 2025.

• Bitcoin address wakes up after lying low for over 12 years, moves $35,843,512 in BTC at 1,667,815% profit.

• MicroStrategy's stock dives 20% after short-seller says 'volume has completely detached from BTC fundamentals.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.