Romanian Authorities Want to provide Tax benefits to crypto investors
The Romanian Parliament has adopted amendments to the Tax Code on temporary amnesty for crypto investors. The amendments should exempt from taxation income earned by individuals investing in cryptocurrencies. The amnesty is valid until July 31, 2025.
The authors of the amendment to the Tax Code stated that the measure would be beneficial to the state, which would be able to assess the real scale of the digital asset market, and would also allow flooding the Romanian credit and financial market with funds from the sale of crypto assets.
"There are between 500,000 and 600,000 crypto investors in Romania, and they could bring money into the real economy — at this difficult time for the country. Thanks to the temporary measure, owners of digital assets will be able to generate additional cash flow in the economy," the explanatory note to the bill says.
The developers of Hamster Kombat have planned the return of players
The developers of Hamster Kombat expected the players to leave and intend to attract participants of the first season, as well as new users. This is reported by Cointelegraph with reference to a statement by a representative of the project team.
In the summer of 2024, the tapalka audience reached 300 million, but after an unsuccessful, according to users, aidrop, the project lost 260 million players. The price of the HMSTR token, which was at $0.011 on the day of listing on September 26, subsequently collapsed to $0.002254. After the fall, it began to recover against the background of bitcoin's growth to new historical highs.
The project team stated that the drop in activity is "expected." Interest in the game "grows and decreases."
"Since our project has seasons, this is quite expected. We are currently in the interim period and preparing for the launch of the second season. Even now, our MAU figure remains above 30 million, which indicates sustained interest," said a representative of Hamster Kombat.
"Now we have more than 11 million token holders, which allows us to compete with the leading blockchains. We plan to increase the number of HMSTR owners and enter new markets," the project representative said.
Vitalik Buterin has released 400 NFT Patron
The crypto community drew attention to the actions of the vitalik.eth address associated with the founder of Ethereum Vitalik Buterin. Recently, 32 ETH was transferred from the Ethereum network to the Base, and then 400 NFT Patron were released. Such steps have aroused interest and questions about possible motives. It is noteworthy that Patron NFT was previously used to attract investments.
The researchers recalled that the Infinex project, related to the trade of decentralized contracts, raised $65.3 million by releasing Patron NFT. This made the generation of new tokens a significant event, as they could be used to expand the ecosystem or attract additional funds. The Infinex platform was launched by the Synthetix team.
Transferring funds and creating an NFT from the vitalik.eth address can be part of testing the functionality or support of the Base platform. This network aims to gain a place among the popular blockchains of the 2nd level (Layer 2). Vitalik's actions are often regarded as signals for the further development of certain areas in the crypto industry.
At the same time, other issues attract attention to Patron NFT. Given the significant amounts received through their sale, it can be assumed that they will become an important tool for decentralized platforms. Patron NFT can be used to participate in project management, gain access to new features, or receive a portion of revenue from operations.
Although Buterin's actions may be a simple experiment, they raise the topic of using NFT in financing and supporting projects. This highlights the growing importance of tokens that go beyond simple digital collectibles. Especially if there are figures like Vitalik behind them.
Why Hedera (HBAR) is growing and what to expect from the exchange rate of the coin
The price of Hedera (HBAR) has jumped sharply. The cryptocurrency has risen in price by 32% in the last 24 hours and by more than 160% in a week. The ADX indicates a strengthening trend, and the Ichimoku cloud confirms the bullish momentum
The dynamics of the HBAR price hints at a possible further increase. Resistance levels are at $0.14 and $0.182. However, if the uptrend weakens, the support zones at the levels of $0.098 and $0.068 will play a key role in determining the future direction of the HBAR.
Why is HBAR growing?
The cryptocurrency is getting more expensive on the news that Canary Capital has applied to launch an ETF for Hedera (HBAR). The instrument, if approved by the U.S. Securities and Exchange Commission (SEC), will open a channel for investment inflows that can support the growth of the cryptocurrency exchange rate.
Donald Trump, who won the US presidential election, promises to reduce regulatory pressure on the crypto industry. In particular, he plans to fire the current head of the SEC, Gary Gensler, whose repression turned into heavy losses for the digital asset market.
With regulatory pressure decreasing, the Hedera ETF (HBAR) has every chance of approval.
Hedera Forecast (HBAR)
The prospects for further growth are open to the cryptocurrency. We tell you which signals indicate the probability of Hedera (HBAR) moving to new peaks.
HBAR Price Forecast
If the current uptrend continues, the HBAR could reach its nearest strong support at $0.14, which would be the highest price since March. Overcoming this level may open the way to further growth, possibly up to $0.182, which will increase the cost by 54% from current figures.
The optimistic scenario is confirmed by the strong momentum shown by the latest technical analyses.
On the other hand, if the trend changes, the HBAR may roll back to the first support at $0.098. If this level does not hold, the price may drop to $0.068.
More than 60% of Litecoin investors are in profit due to the growth of the asset
According to the IntoTheBlock analytical company, more than 60% of Litecoin (LTC) holders are now in profit. This is the highest figure since April 2024. Then it rose to 75% after the Commodity Futures Trading Commission declared LTC a commodity.
The recent growth of the Litecoin exchange rate began after the comic announcement by the developers of the asset that the cryptocurrency had received the status of a memcoin. A simple post with the inscription "Now I am a memcoin" led to the fact that the LTC rate rose by more than 15%, exceeding the $85 mark. The trading volume of the asset also increased by more than 33%, reaching $950 million.
However, the LTC rate is still 77% below the 2021 record high of $412.
According to IntoTheBlock analysts, Litecoin has the potential to reach new highs. Moreover, short-term holders of the asset are now demonstrating increased demand for altcoin. LTC balances on their cryptocurrencies increased by 31%. Usually, such interest precedes a jump in asset prices.
Another factor that influenced the mood of investors was the interest in LTC from miners — since the beginning of 2024, the Litecoin hashrate has increased by about 30% to 1.35 Px/s. Finally, in October, asset manager Canary Capital applied for the first spot LTC ETF, which also became a reason for optimism among asset holders.
The third week of Bitcoin's parabolic growth: analysis from Rekt Capital
In his new video review, Rekt Capital analyst presented a detailed analysis of the current bitcoin cycle. According to him, the parabolic growth phase, which started just three weeks ago, may last another 300 days. This opens up exciting prospects for the crypto market.
Anatomy of growth
After eight months of tedious consolidation, bitcoin is finally showing signs of awakening. And if you think that you are already late for this celebration of life, relax. We are only at the beginning of the parabolic phase, which usually lasts about a year.
Historical data shows a clear pattern:
-- The bear market lasts about a year (360-390 days)
-- The accumulation period can last for a year and a half
-- There are 3 major corrections in the parabolic phase
-- Each subsequent correction becomes shorter than the previous one
What awaits us ahead
In 2021, the first growth phase included 10-11 weeks of continuous upswing with two minor drawdowns. This was followed by a correction lasting 2-4 weeks.
The most interesting thing is that with the development of the correction cycle, they become more and more superficial. This indicates an aggressive buyout of any drawdowns by large players in the late stages of the parabolic phase.
Action strategy
Now we are witnessing the formation of new weekly support and resistance levels. Each weekly candle has characteristic lower shadows — this is a normal phenomenon within the framework of an uptrend.
The first and second corrections in the parabolic phase provide the most favorable opportunities to enter the market. But the third correction will be the shortest and shallowest — but at the same time the most risky.
The fourth correction? Congratulations, this is already a bear market that will last for a whole year.
It's "buy drawdown" time and altcoin season on the market right now. Then the first correction of the parabolic phase will come — one of the most successful moments for buying both bitcoin and altcoins
Capitalists Invested $1.7 Billion in the crypto Industry in October
In October, venture investments in blockchain projects increased to $1.7 billion, an increase of 52% compared to the previous month. This is the highest figure since September 2022 and the strongest result for the current year. Two major rounds played an important role: Praxis startup raised $525 million, and Crusoe Energy raised $500 million. Together, they provided almost 60% of the total funding.
Startups based on the Polygon blockchain became the leader in the number of transactions, which again outstripped the L2-Base solution. However, in September, the latter came forward, which indicates its growing popularity. Despite Polygon's leadership in October, experts expect both networks to continue to gain momentum and compete seriously in the coming months.
The largest volume of investments, almost $700 million, fell on infrastructure blockchain solutions. In this category, projects related to increasing the scalability, reliability and energy consumption of networks remain a priority for investors. Such attention confirms the importance of creating a stable foundation for the further development of the blockchain.
Another notable trend is the growing interest in the application level of technology. Web3 products stand out here, as well as new trends such as SocialFi (financial applications with elements of social networks) and DeAI (decentralized artificial intelligence). These areas are becoming more and more in demand due to their prospects for integration with the real economy.
Trading volume has increased dramatically, but Hamster Kombat is facing big challenges
The trading volume of the token jumped to $128.05 million, which sounds great on paper. Such a surge usually indicates renewed interest, especially from major players. Earlier this month, volumes reached an even more impressive $1.3 billion in spot markets and $4 billion in perpetual trading. But here's the catch: none of this has led to sustained price increases. The price of the HMSTR token continues to decline.
Market sentiment is also divided. A recent CoinMarketCap poll with 89,563 votes shows that 73% of users are still optimistic, but the dominance of whales raises concerns. Since 86% of the tokens are in the hands of several large wallets, small investors, who own only 13.88%, seem afraid to return.
Where are the players going?
One of the biggest alarms is the sharp drop in the number of active users of Hamster Kombat. Back in August, his mini-app had a staggering 300 million users. Fast forward to November, and that number has plummeted to just 30.4 million. This is an 86% drop in a few short months, which is not good news for a project that depends on player engagement.
The developers are promising big changes in Season 2, teasing features such as NFT integration, virtual game studios, and custom community tasks. But here's the problem: the launch date has not yet been determined. At the moment, users are stuck with basic tasks and third—party games - this is hardly the hype that is needed to bring them back.
What to expect
The future of Hamster Kombat seems to hang in the balance. On the one hand, the broader cryptocurrency market is now in a good position thanks to the bitcoin rally. This can help support trading activity. On the other hand, the problems with the price and the involvement of the token will not be solved by themselves.
To get back to normal, the team needs to fulfill its promises for season 2 - and quickly. Without real updates and a stronger user base, even high trading volume may not be enough to turn the tide.
Quantoz with Tether support launches MiCA-compatible USDQ and EURQ stablecoins
Shortly before the European Union regulation on crypto asset markets, known as MiCA, comes into force in December, the Dutch firm launched two MiCA-compliant stablecoins.
Quantoz Payments is releasing two new tokens, USDQ and EURQ, stablecoins pegged to the dollar and euro, respectively, on the Ethereum blockchain. Quantoz is regulated and licensed by the Central Bank of the Netherlands as an electronic money institution, and stablecoins are fully backed by fiat and "highly liquid financial instruments," according to the firm.
The launch comes at a crucial moment for European crypto investors, as MiCA rules restricting certain stablecoins are due to come into force in December. While EURC Circle and EURCV Société Générale now hold a record 67% of the Eurostablecoin market share, other competitors such as EURQ are likely seeking to claim their market share. The supply of EURC stablecoins has also recently reached a historic high.
Tether, the world's largest issuer of stablecoins, has not yet received a license for its USDT stablecoin under MiCA. Coinbase has also not commented on whether it will exclude the token from listing in Europe, as it plans to do with other non-compliant stablecoins by the end of the year.
The lack of clarity around USDT may be one of the reasons why Tether invested an undisclosed amount together with Kraken and venture capital firm web3 Fabric Ventures in Quantoz Payments.
"Our support for Quantoz underscores Tether's commitment to advancing innovative and regulated digital asset solutions," said Tether CEO Paolo Ardoino.
"The support from some of the best digital asset companies in this investment round will allow us to provide a timely solution for the digital asset markets, as well as uncover the benefits of blockchain—based money for more traditional use cases," said Arnaud Star Busmann, CEO of Quantoz.Читать полностью…
Following in the footsteps of MicroStrategy: An AI company Invests $120 million in Bitcoin
Genius Group, a company specializing in the development of artificial intelligence, announced a radical change in its investment strategy — 90% of its reserves will be stored in bitcoin.
After restructuring the board of directors, which includes experts on blockchain and Web3, the company plans to invest $120 million in the first cryptocurrency. At the current rate, this is equivalent to about 1,380 bitcoins.
"Our strategy with a focus on bitcoin will make us one of the first companies on NYSE American to fully adopt the MicroStrategy approach," reads a press release published on November 12.
CEO Roger Hamilton stressed that the introduction of transparent decentralized technologies will help bring the company's market value in line with its underlying assets. For 2023, Genius Group reported total assets of $43 million and revenue of $23 million.
This decision was the result of a difficult period — the company's shares fell below $0.60 amid a public confrontation with alleged market manipulators. According to Hamilton, the current lawsuit may bring compensation in excess of $250 million.
The company is not limited to investing in bitcoin. She plans to introduce bitcoin as a payment method on an educational platform, launch the Web3 Wealth Renaissance educational series, and expand cryptocurrency training programs using AI tools.
Shares of the Singapore-based company reacted to the news with a rise of up to 50% in the pre-trading session on Monday. Despite the subsequent correction, they have increased by 61% to $0.95 over the past five days.
Genius Group joins a growing list of public companies following the example of MicroStrategy, which began investing in bitcoin in 2020. According to Bitcoin Treasuries, there are 279,420 bitcoins in MicroStrategy accounts. Recently, medical equipment manufacturer Semler Scientific and Tokyo-based investment company Metaplanet also announced the purchase of more than 1,000 bitcoins each.
A SCIHUB Investor Turned $100 into $700,000 in a Day
Lookonchain analysts drew attention to a trader who managed to make good money on the growth of the sci-hub (SCIHUB) cryptocurrency. His investment of just over a hundred dollars brought in a profit that exceeded $700,000
The Lookonchain team talked about exactly how a successful trader acted in their X (former Twitter).
According to analysts, a member of the crypto community has bet on the sci-hub (SCIHUB) cryptocurrency. Its name is a reference to the shadow library site of the same name. The platform provides free access to millions of scientific articles, bypassing the paid barriers of publishers. The site allows you to circumvent copyright laws. Therefore, the very existence of the project causes ethical disputes.
As of the time of writing the review, there is no information about the cryptocurrency of the same name on the sci-hub website. Therefore, we cannot claim that SCIHUB has anything to do with the project. However, it is possible that the data will appear later. The fact is that the SCIHUB coin, according to geckoterminal, is only one day old. At the same time, the number of token owners has already exceeded 13,000, and the liquidity of the coin has exceeded $ 1.43 million.
According to solscan, an unknown trader invested $108 in Solana (SOL) in SCIHUB. Against the background of the explosive growth of the cryptocurrency exchange rate, the value of the 12.77 million sci-hub tokens he bought reached $ 718,000. Thus, the return on investment was 6,648 x.
At the moment, the cryptocurrency was trading at $0.0713. After setting the maximum, the coin went into correction. As of the time of writing the review, the cryptocurrency is trading at $0.0429.
The participants of the crypto community are confident that an insider is behind the transactions. Some believe that the operations were carried out by one of the developers of the project, as other coins are associated with it.
Earlier, the editorial board of BeInCrypto published the instructions of a popular analyst who told subscribers exactly how he manages to find coins with great growth prospects.
5 tokens are scheduled to be listed this week
CryptoDiffer researchers published a post on the social network X, in which they said that next week several promising crypto projects will enter the stock exchanges at once, attracting the attention of investors. According to experts, they will be of interest to traders who may try to speculate on the value of new assets. These include Bitfinity (BTF), Zyfi (ZFI), MicroGPT (MICRO), Ponder (PNDR and MemeFi (MEMEFI). These startups have already proven themselves by completing funding rounds and preparing for the public offering of tokens. The listing date for each project has already been determined.
Bitfinity is a scalable Layer 2 network based on the Bitcoin blockchain. The project has raised $7 million and is estimated at $130 million. Tokens will be available on the trading platform Gate.io since November 19th. Zyfi, which provides the "payment as a service" service, received an investment of $2 million, and its current valuation is $20 million. The project is expected to announce the listing platform on November 19th.
The next startup is MicroGPT, a developer-oriented platform using AI tools. The project entered the last round with an estimate of $3.5 million, and the initial placement of tokens will take place at Gate.io November 20th.
The CAT token expands to Solana, creating a long-term bullish trend
-- CAT, a memcoin associated with Simon's Cat, is expanding onto the Solana blockchain to tap into its active trading community.
-- The vault provides early access to BONK token holders who have locked their tokens for 12 months.
-- The Solana ecosystem has become a center of memcoin activity with significant trading volumes and commissions.
CAT, the licensed meme coin of the online cartoon character Simon the Cat, is expanding on the Solana blockchain to attract a new audience of traders.
Long-term holders of the staunch follower of Solana BONK, a dog-themed meme coin created at the end of 2022, who have locked their tokens for 12 months, will receive early access to CAT on Solana. The vault will offer CAT for up to $100,000 at a reduced rate compared to the market price at the time of launch.
According to the data, as of the morning hours in Asia, the vault was filled with more than the initial amount of 100,000 US dollars, while stablecoins worth 240,000 US dollars were placed for CAT on Solana.
In recent years, Solana has become a hotbed of memcoins, where periods of rapid token issuance and trading are often observed, which creates a cycle of demand for SOL, and profits often return to new tokens.
Other networks have not yet seen such a surge in activity. Earlier this year, in March, for example, Solana collected $3.2 million in commissions in 24 hours, breaking the record of $300,000 since 2021. Onchain volumes increased by more than $3 billion, breaking the November 2022 record of $300 million, according to an analysis by CoinDesk. No other popular blockchain, such as Ethereum, BNB Chain or TRON, saw a surge in activity during this period, indicating that traders' attention was focused on one network.
It was this reason that primarily influenced CAT's decision to expand its activities in Solana.
"BNB has given $CAT a solid, reliable foundation with solid liquidity, but we are pleased to open the doors to the high—speed, low-cost Solana network, which is hugely popular among retail traders and the meme community," one of Simon's Cat CORE team members told CoinDesk on condition of anonymity.
"The deep support of Solana from exchanges means even more opportunities for trading and liquidity, which is a serious incentive. And we are just getting started — there is still a lot in our roadmap," the team added in a Telegram message.
Glassnode and Fasanara Digital: The Crypto market will soon enter a new Phase
Analysts from Glassnode and Fasanara Digital have published a report on the results of a joint study, assessing the dynamics and prospects of the crypto market in October — December. According to experts, the market is on the verge of moving from the "bullish enthusiasm" stage to the "bullish euphoria" phase.
Glassnode and Fasanara Digital noted the rapid recovery of the crypto market after the bankruptcy of the FTX crypto exchange, which began in November 2022. Since then, bitcoin's capitalization has increased by 372%, and the dominance of the first cryptocurrency has increased from 38% to almost 60%, and now the market is preparing for a phase change.
The share of ether in the market decreased from 17% to 12.8% due to a lack of capital inflows and a decrease in interest in this asset from retail investors, experts said.
They drew attention to the sharp increase in the activity of institutional investors-legal entities, the reason for which was the launch of the first spot bitcoin ETFs in the United States. Assets under fund management have reached $70.9 billion, which is about 5% of the circulating bitcoin supply.
Experts from Glassnode and Fasanara Digital have recorded an increase in the volume of spot trading in bitcoin and open futures positions for the first cryptocurrency — the latter reached a historic high of $37.1 billion.
One of the most important trends in the fourth quarter of 2024 was the tokenization of real world assets (RWA). Investors' interest in RWA's capabilities continues to grow, the experts concluded.
Earlier, MV Global conducted a survey of large investors, the results of which revealed that investors believe that the cryptocurrency market will peak in the second half of 2025.
Litecoin developers have "reformatted" the cryptocurrency into a memcoin
Litecoin, a cryptocurrency project created in 2013 and initially considered a serious alternative to bitcoin, "declared" itself a memcoin.
Apparently, the developers of Litecoin are haunted by the hype of the popularity and exchange rate of memcoins. For example, Dogwifhat (WIF) and Pepe Coin (PEPE) meme tokens have risen significantly in price after they were placed on major American platforms Coinbase and Robinhood. PEPE rose by more than 200%, reaching an all-time high of $0.00002597. The rate of WIF, a Solana-based meme coin, jumped by 65% in one day after listing on Coinbase.
The cryptocurrency market also reacted positively to the playful rebranding of Litecoin, and the price of LTC increased by 21%.
In the next post, the cryptocurrency development team appealed to the crypto community, urging its members to rally in the face of growing pressure from regulators. In addition, they called on various blockchains to unite in the "fight against the machine."
We are at a crossroads in our struggle with the machine. After all, we are all memes. Discover your inner meme and join forces with us. From the highest to the lowest, your voice will be heard," the message says.
The price of PNUT is growing faster than the demand for GOAT
The GOAT token, which once dominated the memcoin market, faced a serious challenge after the appearance of Peanut the Squirrel (PNUT)
The sudden rise of PNUT has shaken GOAT's position in the market and led to a decrease in demand for memcoin. However, investors remain optimistic about the potential recovery of the coin.
The squirrel defeats the goat
GOAT's social dominance has changed significantly since October, mainly due to the advent of PNUT. For most of October, memcoin attracted the attention of the market, causing strong investor interest and a lot of excitement. However, the debut of PNUT at the end of the month caught the attention, displacing GOAT from the list of top tokens.
At the moment, PNUT is a more popular asset among investors. This is confirmed by an increase in the number of mentions and active participation in social networks. This increase in attention has directly affected GOAT. His falling engagement rates indicate a loss of momentum. The competition between these memcoins is reformatting market conditions.
However, the GOAT financing rate remains positive, indicating the continued confidence of traders. This mechanism provides a balance between long and short positions in the market of perpetual futures contracts. Positive values indicate the dominance of long positions and mean that the contract price exceeds the spot price. This means that more traders are buying the coin with the expectation of selling at a higher price.
This optimism reflects the belief that GOAT still has a chance to regain dominance in the memcoin sector. However, the price decrease has caused uncertainty and anxiety among investors. Therefore, convincing market signals are needed for a noticeable price increase. Traders are carefully looking for signs of a possible reversal.
GOAT forecast: further decline is possible
The price has fallen by 25% in the last 24 hours, dropping from a record $1.36 to $1.01. The asset is approaching the critical mark of $1.00. If the bearish trend continues, a further decline is likely.
The critical support level is $0.72. If the price drops to this level, investors may suffer significant losses. The loss of this support also threatens to strengthen the bearish trend and make it difficult to quickly recover.
However, if the price bounces back from the $0.72 mark, memcoin may try to absorb previous highs. This would refute the bearish scenario and return GOAT to the lead among memcoins.
The Bitcoin mining difficulty index has set a record high at 102.29 T
-- On November 18, the complexity of bitcoin mining increased by 0.64%.
-- The indicator set a historical maximum at 102.29 T.
-- The average hashrate is 921.03 EH/s.
On November 18, 2024, the Bitcoin mining difficulty index updated its historical maximum at 102.29 T. Since the last date of the change, it has grown by 0.64%, according to CloverPool.
The current average hashrate on the bitcoin network is 921.03 EH/s.
The Block material explains that mining complexity is not measured in specific units. This is a relative indicator that demonstrates how much more difficult it is now to mine a new block compared to the simplest period in history. The system automatically adjusts the difficulty every 2016 blocks, which roughly corresponds to a two-week interval.
The higher the complexity of mining, the more resources — computing power and electricity — miners need to find the correct hash of a new block. An increase in this indicator usually indicates an increase in the activity of miners, while its decrease indicates a decline in such activity.
The increase in this indicator brings the date of halving of the first cryptocurrency, which last took place on April 20, 2024.
The next recount will take place approximately on December 2.
Earlier, we reported that the Greenidge Generation miner won a court case for the right to mine bitcoin in New York State.
NASDAQ announced the listing of options on IBIT
NASDAQ will list options on the spot bitcoin ETF from BlackRock (ticker: IBIT) today. This event should be considered an extremely important step in the evolution of the bitcoin derivatives market. QCP Capital researchers stated that in traditional financial markets, the volume of derivatives trading often exceeds the market capitalization of the underlying asset by 10-20 times. It is expected that this trend may repeat here, which will give a new impetus to the global growth of the cryptocurrency market.
The launch of options on IBIT is likely to attract institutional investors who previously faced restrictions when working with cryptocurrencies on platforms like Deribit. These companies and individuals are mainly focused on strategies for generating income from long-term assets. This can lead to a further decrease in implied volatility, which usually indicates market stabilization.
A similar situation has already been observed before, when large institutions used MicroStrategy shares as an indirect tool to gain exposure to bitcoin. According to reports for the 3rd quarter, the number of MicroStrategy institutional investors increased from 667 to 738. The result is especially noticeable for Vanguard, which increased its investments by 1000%, adding almost 16 million shares. This growth indicates the growing interest of institutions in bitcoin-related markets.
In addition, Goldman Sachs has confirmed plans to spin off its digital asset platform into a separate business. This move highlights how cryptocurrencies are increasingly integrated into the traditional financial system. Banks and funds are starting to consider virtual currencies not as a risky experiment, but as a full-fledged element of their strategy.
Justin Sun believes that Tron will rise in price to $20 by the end of the year
Justin Sun, the founder of the Tron blockchain, said that the price of TRX will reach $20 this year. This is how he reacted to the optimistic forecast of an Intuit Trading analyst, who informed market participants about the potential of the asset during this bull market.
According to the Intuit Trading cryptanalyst, "seven years of price compression during a bearish super cycle" may end in rapid growth for TRX.
Indeed, over the past seven years, the asset has been trading below the historical high of $0.30004. However, the gap is gradually narrowing, now it is only 31%. At the current price of $0.2048, TRX will have to grow 97 times or 9665% to reach the projected value of $20. However, the expert considers such rapid growth to be only the beginning.
The expert predicts that in the context of the continued fall of the dollar and increasing inflation, the asset rate will continue to rise in the next few decades. According to Intuit Trading, the main question is not whether TRX will reach the $200 or $2000 mark, but when it will happen, and this moment may come sooner than many expect.
The media learned about Trump's plans to meet with the head of Coinbase
Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, intends to meet with Donald Trump to discuss candidates for the new administration of the President of the United States. The Wall Street Journal writes about this
Earlier, Armstrong stated that Coinbase is ready to cooperate with both the Kamala Harris administration and the Trump administration.
What is known
According to the WSJ, Armstrong's meeting with Trump will be held in private. The agenda includes discussion of key appointments in government departments. Against the background of the news release, the shares of the crypto exchange rose by more than 6%.
It is unknown whether the businessman or other employees of the crypto exchange are being considered for specific positions in the Trump administration.
After the November 6 election, Trump presented a number of candidates for his administration, and also threatened to bypass Senate confirmation to speed up appointments. It is unclear who he intends to nominate instead of the current head of the Securities and Exchange Commission (SEC), Gary Gensler, whom Trump promised to fire "on the first day." Presumably, Commissioner Dan Gallagher, who is loyal to the crypt, can take the post.
Read also: What Donald Trump Promised the Crypto Community — 8 Initiatives
In the interests of Armstrong
At the Bitcoin 2024 conference in July, Trump announced plans to create a "Presidential Council on Bitcoin and Cryptocurrencies" to develop transparent regulation of the industry within the first 100 days after taking office. The initiative echoes the work of Coinbase. It is not the first year that the company has been seeking clarification of the rules governing the digital asset market.
Armstrong also supported Trump's initiative to create a "Department of Government Efficiency" (D.O.G.E.), under the leadership of Elon Musk and Vivek Ramaswamy.
Recall that Coinbase is working closely with the authorities. In particular, since 2020, the crypto exchange has been supplying regulators with analytical software that helps track the activity of participants in the crypto community. A year after the start of cooperation with the authorities, Coinbase became the first cryptocurrency company in the United States to gain public status.
The crypto exchange team benefits from being friends with the Trump administration. The initiatives of the politician in many ways echo the interests of the company. Therefore, the meeting of Armstrong, who has been building trusting relations with the authorities for several years, with Trump, who needs the support of experienced cryptans, is a logical step.
The reaction of the crypto community
Representatives of the crypto industry are confident that Armstrong's meeting with Trump can launch a new wave of growth in the digital asset market. Some members of the crypto community suggest that a businessman needs a politician to implement plans to form a bitcoin reserve in the United States. Earlier, the editorial board of BeInCrypto wrote that there were messages on the network that indicate the beginning of work on the initiative.
Binance launches Super Profitable BFUSD Token
Information has appeared on the network about the plans of the largest crypto exchange Binance to launch a new BFUSD coin with suspiciously high profitability. According to the team of the trading platform, members of the crypto community mistakenly began to spread information that the token is a stablecoin. In fact, BFUSD is a profitable margin asset for futures trading
Crypto investors, in turn, saw in the coin the shadow of the collapsed LUNA cryptocurrency, whose holders could also count on high profitability at the moment. We tell you what is known about BFUSD and why the participants of the crypto community were skeptical about the project.
What is known about BFUSD
Reports that Binance is launching BFUSD appeared on the exchange's resources. The participants of the crypto community spread the information over the network in a matter of minutes.
According to reports, the yield of BFUSD will be adjusted. Against the background of the first news about the coin, the metric was at the level of 19.55%. A day later, the yield exceeded 100% per annum.
Presumably, users can use BFUSD as collateral for their transactions using leverage.
Due to the fact that initially there was no clear description of the coin on the platform's resources, the news took on incorrect outlines. Many have written that BFUSD is a stablecoin.
Due to the hype, the Binance team had to clarify information about the initiative. According to them, BFUSD is not a stablecoin. The coin is a profitable margin asset for futures trading. Binance representatives also promised to provide more information about BFUSD and the tools for calculating its profitability over time.
There is a theory that the launch of BFUSD may be part of Binance's investment in Ethena Labs. The fintech company develops innovative solutions in the field of decentralized finance (DeFi). The company's main product is the "synthetic dollar" USDe, which is a token linked to the US dollar exchange rate. Instead of the traditional provision of reserves, the USDe uses an automatic delta hedging strategy (a risk management method in derivatives trading) to maintain the stability of the dollar peg. According to the proponents of the theory, Binance can use USDe to pay the declared yield to BFUSD holders.
The reaction of the crypto community
The new BFUSD token has attracted attention due to its high annual yield, which is compared with the results of the collapsed TerraLUNA. At the moment, the profitability of the coin through the Anchor Protocol exceeded 20%. According to the participants of the crypto community, such high rates of potential profit look suspicious.
Investors have noticed that the Binance team is in no hurry to explain how the coin can give such a return. The opacity of the asset, according to netizens, may turn into a repeat of the story of the collapse of Terra for investors.
The news quickly became overgrown with memes. Their essence is that Binance's proposal looks like the reincarnation of LUNA's ideas, which eventually led to the collapse of the crypto project and major losses.
Base Network has reached 1 billion transactions
On November 15, the Coinbase-supported Base network proudly announced that it has completed 1 billion transactions since its launch in August 2023. This milestone was reached in just a year, which is an outstanding achievement compared to established networks like Bitcoin, which took more than 15 years to reach similar figures.
The rapid growth of Base is not surprising. The network quickly became the fastest growing Ethereum Layer-2 solution, surpassing competitors such as Optimism and Arbitrum. A recent CoinGecko report ranked Base as the second most popular blockchain in 2024, and the network is now attracting nine times more attention than its closest Layer-2 competitor, Arbitrum.
Market observers attribute the rapid growth of the network to the reliable support and resources provided by Coinbase, the $76 billion crypto exchange that manages Base. Moreover, the strength of the Coinbase brand as the largest cryptocurrency exchange in the United States has also undoubtedly contributed to the success of Base.
Monad developers have launched a test network
The founders of the promising Level 1 (Layer 1) Monad blockchain have begun the phased launch of their own test network, which has caused an active discussion in the crypto community. Well-known crypto trader Cobie confirmed on social networks that he has already started testing. He called the speed of the blockchain impressive. "I carried out the transaction, it was fast," the expert said.
Monad development started with the launch of devnet in March 2023. Then, in test mode, the network showed a performance of 10 thousand transactions per second. Koen Hong, CEO of Monad Labs, noted that the launch of the test network was an important milestone for the team.
Monad differs from the classic Ethereum approach to architecture. Instead of copying the existing code, the team creates a new EVM from scratch. The main feature of the system is the pipeline architecture, which allows processing processes in parallel, providing instant completion of blocks. However, the nodes of the network will require equipment twice as powerful as for working with the main Ethereum blockchain.
The advantage of Monad is its full compatibility with EVM bytecode. This makes it easier to migrate existing Ethereum applications to a new platform. This approach makes Monad an attractive network for developers who want to access higher bandwidth.
XRP recorded its highest weekly close in 3 years after soaring above $1
XRP posted its highest weekly close in three years as bullish momentum builds in the XRP Ledger ecosystem.
Against the background of market consolidation after a bullish surge that saw bitcoin break through the price of $93,000, XRP defied the prevailing momentum. The sixth largest cryptocurrency by market capitalization has grown by a whopping 105% in the last seven days and finally crossed the $1 mark.
The bullish rise of XRP also ensured that it overtook Dogecoin in the cryptocurrency rankings after the rise in the price of the meme coin allowed it to surpass the asset at the beginning of the month. It is noteworthy that XRP is now trading with a market capitalization above $65 billion, which is the highest in three years.
Highest weekly close since 2021
Meanwhile, market analyst Cryptoes has drawn the attention of the XRP community to the landmark milestone that XRP has reached after its bullish breakout last week. In a tweet on Monday, he noted that the native XRPL token has reached its highest weekly close in three years.
Just a week ago, XRP was trading around 50 cents, recording a minute gain despite the broader bullish momentum of the market. However, the positive sentiment around the ecosystem intensified after strong macroeconomic factors spurred a price spike.
As XRP gained momentum, its price overcame years of resistance, trading above $1 after more than three years of trying to reach the price mark. XRP rose to a one-week high of $1.26 on November 16 before closing at $1.0545.
Meanwhile, XRP's results last week increased its monthly and annual gains to 116% and 97%, respectively. The asset has also become the growth leader over the past seven days among the 20 largest crypto assets by market capitalization.
The financial analyst is confident that the bitcoin rally has not yet begun
Financial analyst Sean Brodrick, known as the "Indiana Jones" of Natural Resources, believes that even after bitcoin moves into the $90,000 range, it still has potential for growth. Brodrick said that in 2025, governments, banks and corporations will push the rate of the leading cryptocurrency up.
Brodrick argues that Trump's commitment to cryptocurrency and the possibility of forming a strategic reserve of bitcoins will encourage other countries to take similar steps. This will be the first domino to fall to start an unprecedented rally.
Corporations will support this movement. On the one hand, Microstrategy already owns huge amounts of bitcoins, on the other hand, the vast majority of companies in the United States have not yet entered the cryptocurrency market, even with the advent of exchange-traded funds (ETFs).
Brodrick has no doubt that Microsoft's vote to buy bitcoins as part of its reserves is just the beginning of this process.
Big banks are the last of the three elements that, according to Brodrick, will push bitcoin to new heights. He noted that the largest investment banks Goldman Sachs and JPMorgan are already diving into bitcoin, but at the moment they own only small amounts of bitcoin ETFs.
If the government starts creating a strategic bitcoin reserve... and especially if corporations start creating bitcoin assets, I would expect big banks to create their own BTC reserves. And not only in ETFs, but also in real cryptocurrencies," the expert added.Читать полностью…
Record daily commissions have boosted Solana to a peak in December 2021
On the morning of November 18, the Solana exchange rate rose above $245, which was last observed in December 2021. The catalyst was the highest commissions in the history of the network ($9.3 million).
The high level of network activity was facilitated by the return of the hype around meme coins.
On November 17, crypto influencer Patrick Scott drew attention to the fact that five of the top ten collection protocols over the past 24 hours are related to Solana.
According to current data, the highest income was received:
-- DEX Raydium — record $13.37 million;
-- Jito liquid staking protocol — $7.89 million;
-- Telegram bot for trading Photon meme coins — $2.36 million;
-- a platform for launching Pump meme coins.fun — $1.65 million
Over the past 24 hours, SOL has added 1.5% in value, and 17.4% in seven days. At the time of writing, the asset is trading at $242.47. ATH is fixed at $259.9.
The leader of meme coins on Solana - dogwifhat (WIF) — fell in price by 4.9% during the day.
Among those released on Pump.fun tokens positive dynamics over the past 24 hours has been observed in eight out of ten assets.
Recall that on November 13, the Peanut the Squirrel (PNUT) meme coin went up four times in a day.
Earlier, VanEck noted the high chances of approval
Chainlink has created a platform for banks to integrate blockchain
The Chainlink development team has announced the Chainlink Runtime Environment (CRE) framework, designed to help banks, payment systems and other traditional financial institutions seamlessly connect to blockchain technology.
It is claimed that the new solution will replace old technologies such as COBOL and Java Runtime Environment. COBOL, introduced in 1959, played a crucial role in the creation of early financial instruments such as ATMs and electronic banking. The Java Runtime Environment, developed in the 1990s, became the basis for online banking.
Both systems were revolutionary at the time, but they no longer meet the needs of modern blockchain applications. By introducing CRE, Chainlink is creating a single, blockchain-compatible system to modernize these legacy infrastructures.
Interestingly, at the SIBOS banking conference last month, Chainlink developers announced cooperation with the world's leading SWIFT interbank messaging system, which allows banks to use it to connect to blockchain systems.
In addition, Chainlink is exploring the possibility of using artificial intelligence (AI) in combination with its own oracles. This will allow you to create secure, tamper-proof financial activity records, such as confirmation of reserves.
Historical data hints at further growth of Cardano (ADA)
The Cardano (ADA) rally may continue after an impressive 65% price increase over the past week. This forecast is based on historical data and expected investor behavior.
At the time of writing, ADA is trading at $0.72. An analysis of on-chain data shows that the recent rally may be just the beginning.
Cardano may continue to grow
One of the key indicators confirming this forecast is the ratio of market value to realized value (MVRV). This metric helps identify potential market peaks and bottoms and provides insight into investor behavior.
The higher the MVRV ratio, the higher the profitability of the holders and their willingness to sell. A decrease in MVRV, in turn, means a decrease in unrealized profit.
At the time of writing, the 30-day MVRV ADA ratio is -7.27%. Historically, when this value was reached, the altcoin price continued to rise. In addition, the recent addition of Cardano to the Robinhood listing may increase the demand of American investors.
The HIOM metric, which analyzes the difference between profitable and unprofitable addresses to assess market momentum, also confirms this forecast. The number of profitable Cardano addresses has started to increase, it is still far from the maximum values.
ADA Price Forecast: Is a 500% increase possible?
The weekly chart of Cardano resembles the dynamics of 2020-2021, when the price of ADA increased by 3,653% — from $0.061 to $2.29. This jump was supported by the intersection of the 20-week exponential moving average (EMA) over the 50-week EMA.
Although a repeat of this situation seems incredible, the price of ADA may still rise up to 500% in the coming months. If this happens, the altcoin will reach the $2.03 mark. The rise in the price of bitcoin (BTC) can also help, especially considering that Cardano is closely correlated with the main cryptocurrency. However, increased selling pressure will send Cardano in the direction of $0.33.
Developer Shiba Inu suggested that Trump hire a blockchain advisor
Shiba Inu's chief developer, Shitoshi Kusama, called on Donald Trump to appoint a blockchain advisor to his administration.
This proposal arose after the newly created Department of Government Efficiency (DOGE) began exploring the possibility of using blockchain for elections.
Kusama Explains Why Trump should Hire a Blockchain Advisor
On November 15, Kusama expressed concern about rumors about a blockchain platform for elections, which the Trump team is reportedly considering. The system, dubbed "eVote", involves collaboration with well-known networks such as Cardano, Hyperledger and Hedera.
The eVote initiative is aimed at combating electoral fraud. Analysts believe this is in line with Trump's long-standing emphasis on ensuring election integrity, especially amid controversies related to past election processes.
Although the idea has already received public support, Kusama believes that its success depends on the integration of fully homomorphic encryption (FHE). In his opinion, without FHE, personal data and preferences of voters may become available for decryption by intruders. He also stressed that encryption must be reliable enough to withstand the threats of quantum computing.
"Without FHE, this concept will fail. That's why. Voices should be protected not only on the blockchain, but encrypted in a way that is resistant to quantum computing. Otherwise, the aggressor country will decrypt the votes and publish the wallets of the voters. Chaos will ensue," Kusama explained.
Users of the DEXX platform lost $16 million due to data leaks
The DEXX meme token trading platform was at the center of a major security breach, which caused users to suffer significant losses. According to reports, users lost $16.79 million due to unauthorized token transfers. The holders of BAN and LUCE meme assets suffered the most, losing $3.45 million and $1.75 million, respectively.
The DEXX development team recognized the problem and stated that they had engaged several security audit specialists. They must identify and eliminate the vulnerability of the platform.
CertiK, the leading blockchain security auditor, also confirmed that he had received requests for help from affected users. The investigation revealed that the main problem was the improper management of private keys, which led to the disclosure of the official DEXX private key. CertiK experts reported that the hacked system is located on the Solana blockchain, which the company's specialists had not previously checked.
Hardware wallet provider OneKey suggested that DEXX could have accidentally downloaded the contents of users' clipboard, potentially leading to the disclosure of confidential information.
This incident shocked the crypto community, and many questioned the platform's security protocols and the role of third-party auditors. DEXX's statement that the platform had been audited drew criticism, especially given that the hack revealed obvious vulnerabilities in private key management.