The average price of BTC is now $59,542 dollars

BitFuFu, the cloud mining company behind Bitmain, has revealed the state of bitcoin mining at the end of 2024. After record increases in hash rate and mining complexity, most miners now have to spend more than twice as much to mine a single BTC.

According to BitFuFu's latest quarterly report, the breakeven price for mining one BTC is $59,452, which leaves a relatively large profit even at current prices. BitFuFu is one of the emerging companies in the cloud mining industry, created with the backing of Bitmain.

BTC has provided highly competitive mining even at levels just above $75,000, showing some confidence in more massive growth in the future. At the end of 2023, BitFuFu's cloud mining and in-house device mining costs were only $25,618, allowing them to hold on to a fraction of the coins.

BitFuFu's results came at a time when Bitcoin set a new record for mining activity as well as difficulty level. The mining company managed to reduce its electricity costs to an average of $0.04 per kilowatt hour, which is well below the usual rate used to calculate the profitability of mining. BitFuFu has managed to offer cost-effective leased computing power even at the end of 2024, showing that there are more opportunities for competitive mining. In general, some operations can generate losses, as the cost of production in some cases can exceed 70 thousand dollars.

The quarterly results reflect the low hashrate index, which is now at a consistently low level after the reward for mining was cut in half in 2024. However, the low performance has not stopped mining farms from building new facilities and utilizing the latest mining machines from Bitmain to improve efficiency.

After the recent hashrate record, BTC even continued to rise in value as usual after the expansion of mining farms. BTC recovered above $70,000 after the news of the mining record. Mining farms have a longer period of time and store BTC mined in previous periods.

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Curve Finance and TON are driving the evolution of DeFi

The year 2025 will be the year of decentralized finance (DeFi) on The Open Network (TON) blockchain, developer TON Foundation announced. Decentralized exchange Curve Finance has joined the process, with TON and Curve holding a competition for DeFi teams to develop stable asset exchanges using Curve Finance's proprietary technology.

Preparing the DeFi components

TON is finalizing what it calls the first level of DeFi primitives, it announced in a blog post authored by TON DeFi head Vlad Degen. The author was referring to credit solutions, liquidity stacking and Constant Product Market Maker protocols. New Tier 2 projects include launch pads, options and derivatives, and:

“Upcoming plans include bridges between TON and other networks such as BTC and EVM, which will allow for the addition of new assets including major stackablecoins.”

Curve Finance's partnership with Curve Finance, which was finalized in September, included a competition to develop Curve's Constant Functional Market Maker (CFMM). This technology promises to reduce price volatility and slippage.

Projects require a license to use CFMM technology, so the ability to swap on TON using this technology was notable.

Winners receive liquidity, incentives and integration

Seventy teams applied to the competition and 10 were accepted. Five completed their CFMM protocols and made it to the final round. Torch Finance and Crouton Finance were the winners and will each receive $150,000 from TON for their audits, as well as initial liquidity in new stackablecoin pools and incentives to utilize the pools.

The liquidity from Torch Finance and Crouton Finance will be integrated into CrossCurve's cross-chain trading and yield protocol, backed by Curve founder Mikhail Egorov, which creates a single liquidity marketplace by combining existing Curve pools.

Seven Ventures has also made a soft commitment to invest $2.3 million in Torch Finance and Crouton Finance.

Further, TON and Curve Finance will launch $500,000 in incentives for cross-chain pools to enable the exchange of stablecoins between TON's ecosystem and EVM networks.

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Marathon and Riot recorded a record volume of BTC mined

The largest mining companies Marathon Digital and Riot Platforms reported the highest monthly volume of bitcoin mining since April 2024. Recall that another BTC halving took place then, after which the reward for block generation was halved.

According to the statement of Marathon Digital CEO Fred Thiel, in October the company mined 717 BTC worth about $48.8 million. The head of the company explained this figure by the growth of hash rate by 14% above 40 Eh/s.

According to Thiel, another factor that influenced the mining growth was higher transaction fees. For instance, mining pool company MARAPool and private pool Slipstream helped a miner earn $400,000 worth of bitcoins through two high-commission transfers.

Riot Platforms also reported strong results for October. During the month, the miner mined 505 BTC worth about $34.4 million, a 22.6% increase from September. The miner attributed the growth to an increase in hash rate to 29.4 Eh/s, up from 28.2 Eh/s the previous month, when the company installed new MicroBT miners at its Corsicana facility.

Despite the strong monthly reports, shares of Marathon (MARA) and Riot (RIOT) fell 3.79% and 4.87% on Nov. 4, according to Google Finance data.

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XRP price will exceed $6, analyst claims

As the cryptocurrency market continues to grow, an analyst has made an exciting new prediction regarding the price of XRP. He claims that the token will trade above the $6 level by the end of the year. This could be due to an increase in global liquidity.

Correlation between global liquidity and XRP gains

Analyst Steph's prediction is based on a thorough evaluation of how XRP has performed during periods of increased global liquidity.

According to his analysis, there are two clear trends, 2017/2018 and 2020/2021, during which the value of XRP has been rising. In a recent update published on X, Steph cited a chart showing that XRP tends to follow periods of liquidity infusion into the market.

For example, in the 2017/2018 cycle, XRP reached an all-time high. The same pattern repeated itself in the next cycle, with the price approaching $2 in 2021.

However, as noted in Steph's predictions, there is a certain amount of skepticism among market participants. There are some inconsistencies in previous XRP forecasts made by various critics, which they pointed out.

In addition, Stef notes that the current economic and liquidity conditions may be more important. These could be similar to those in past successful periods and pave the way for another significant price increase.

He estimates that if the current price of $0.5058 is to be believed, XRP could rise by more than 1,086% and surpass the $6 mark.

Analyst: end of bull market season

Steph made his prediction at a time when the current bull market is expected to come to an end. Some analysts believe that this phase could lead to a significant influx of investment in high utility assets such as XRP. This factor, combined with the expected increase in global liquidity, makes XRP poised for significant growth.

In addition, the registration of the 21Shares XRP ETF had a positive impact on the price of XRP. The price of the asset rose slightly, indicating an improved market perception due to possible increased investor access. Increased liquidity and transparency through ETFs is a key driver of the price change.

In addition, the MACD indicator on the XRP price chart also shows a positive crossover signal. A bullish crossover signal appears on the signal line, which is a bullish sign. The MACD histogram, which is the difference between the MACD line and the signal line, is also rising.

This means that the XRP price momentum is rising. This technical pattern indicates the renewed interest of traders to buy and may contribute to further upside.

Moreover, the recent XRP analysis has shown that the latest XRPL price update from Oracle could significantly affect the market conditions. This update is intended to improve the quality of pricing information, thereby creating strong upside potential for XRP.

XRP Price Fate

With these improvements, investor interest remains high, and this could pave the way for XRP to reach the $0.8 level.

At the time of writing, XRP is trading at $0.5089, up 1.95% over the last day. The trading volume increased by 5.37% to $914.89 million over the same period, indicating an increase in trading activity and investor interest in the cryptocurrency.

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Bitcoin's new all-time high of $75,000: Trump wins election

Bitcoin has hit $75,000 on the back of Donald Trump's lead in the US election. The major cryptocurrency set a new all-time high, surpassing its March record of $73,777.

According to preliminary election results from the Associated Press, Trump received 198 electoral votes, compared to Kamala Harris' 112. A candidate needs a minimum of 270 votes to win.

Trump is ahead of Harris, with votes still to be counted in many U.S. West Coast states and key “swing” states. Source: Associated Press

Curiously, bitcoin's momentum is actually following Trump's rising chances of victory. On decentralized prediction platform Polymarket, the probability of his success has surpassed 94%, while Harris' has dipped below 6%.

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Trump has proposed paying off $35 trillion in U.S. government debt with cryptocurrency

US Republican presidential candidate Donald Trump joked that if he wins the election, he will order to pay off the national debt with cryptocurrency.

“We'll probably pay off $35 trillion in cryptocurrency. I'll write a little paper to allocate $35 trillion in cryptocurrency, and that's it - we don't have a debt,” Trump said at a fundraising event, a speech posted on Bitcoin Magazine's YouTube channel.

Trump also noted that cryptocurrency has a “great future.”

Earlier, on October 30, The Wall Street Journal reported that the Democratic and Republican parties of the United States agreed to ignore the size of the national debt and the country's budget.

Before that, on July 29, the press service of the budget committee of the U.S. House of Representatives reported that the national debt of the country reached $35 trillion for the first time in the history of the country.

Specialists of the International Monetary Fund (IMF) called the growth of the U.S. national debt a threat to the global economy. Thus, by 2032, the country's national debt may exceed 140% of GDP. The IMF urged American politicians to carefully consider the issue of raising indirect taxes and gradual increase in income tax.

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Van Straten: bitcoin will rise after the US election regardless of the winner

CoinDesk senior analyst James Van Straten (James Van Straten) is confident: the winner of the U.S. presidential election will not be able to stop the growth of bitcoin - such a conclusion follows from the analysis of historical data. Over the past 12 years, the main cryptocurrency has demonstrated impressive growth after each election, regardless of who occupied the White House.

History repeats itself

The statistics from previous election cycles speak for themselves. In 2012, bitcoin traded around $11. A year later, its price soared an incredible 12,000%, reaching above $1,100.

The 2016 election began with quotes around $700. By December 2017, bitcoin's value rose by 3,600%, getting to $18,000.

The most recent 2020 election, held against the backdrop of the COVID-19 pandemic, was no exception either, rising 478% with a peak around $69,000 a year later. March 2024 set a new all-time high above $73,000.

What's in store for bitcoin after the 2024 election?

An interesting pattern: with each new cycle, the percentage of growth decreases. Between the first and second spike, the drop amounted to 70%, between the second and third - 87%. Assuming that the trend continues and the decline is about 90%, we can expect a growth of about 47.8% after the 2024 election. In this case, the bitcoin price could reach $103,500 in the fourth quarter of 2025.

The current cycle shows the weakest dynamics since the halving - only 7% growth after the reduction of the reward for mining. This may serve as further confirmation of the diminishing returns theory.

Market volatility will continue until the election results are announced. However, historical data shows that regardless of whether Kamala Harris or Donald Trump becomes the next president, bitcoin has every chance to continue its upward trend.

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Bitcoin regained $67k, Dollar Index Rally halted as Beige Book supports Fed rate cut

-- Beige Book bolsters hopes for a quarter percentage point Fed rate cut in November and December.
-- Rally DXY halted after Beige Book report, paving the way for BTC's recovery .

Bitcoin (BTC) climbed back above $67,000 as the latest Beige Book survey of U.S. economic conditions released by the Federal Reserve (Fed) on Wednesday showed a subdued outlook, confirming the need for further rate cuts in the coming months.

In the latest release, nine of 12 regional banks reported stagnant or slightly weak economic activity since early September. Most districts saw a downturn in manufacturing activity, as well as some signs of slowing consumer demand.

Inflation or the cost of living continued to decline as sales prices rose slightly or modestly in most counties. Employment increased slightly, but hiring focused mostly on replacement rather than growth. Meanwhile, a few counties pointed to slower wage growth.

Overall, the sluggish outlook contradicts the more positive-than-expected September employment report and opens the door for further Fed rate cuts.

Bitcoin recovered from overnight lows below $53,500 and traded 1% higher for the day at $67,300 at press time, while the Dollar Index Rally (DXY) stalled. The index retreated to 104.30 from an overnight high of 104.57, according to data source TradingView.

“These comments [on Beige's book] caught the attention of the Markets and helped build confidence that there will be another 25 basis point decline in November and there is a high probability of ONE in December . After that, the dollar reversal occurred across the board,” ForexLive noted in its blog.

Several Fed officials, including Chairman Jerome Powell, cited the Beige Book's gloomy outlook for ONE of the reasons for the 50 basis point decline in the benchmark borrowing cost to the 4.75-5% range in September.

Markets QUICKLY estimated an additional 75 basis points of easing by year-end. However, those hopes were undermined by upbeat employment data for September and a hotter than expected inflation report for September.

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Tesla presented its report for the III quarter of 2024

-- Tesla shares rose amid the release of its Q3 financial report.
-- Net income as a whole, as well as revenue from the company's core divisions, marked a positive trend.
-- Also, according to the report, the firm's bitcoin portfolio remained unchanged.

Also, according to the report, the firm's bitcoin portfolio remained unchanged.

As previously anticipated, the company's bitcoin portfolio remained unchanged.

Key financial and operational highlights

Tesla produced nearly 470,000 vehicles in the quarter.

Revenue from that business was up 2% from a year earlier. Much more notable was the jump in revenue in the energy and services segments, up 52% and 29%, respectively.

At the press conference, company owner Ilon Musk predicted a 20-30% increase in car production, driven by the release of unmanned and conventionally affordable models.

He also noted that in the future all cars of the brand will be autonomous.

Musk stated that the company has already developed and launched the Cybercab unmanned cab ordering app, which was allegedly used by some employees of the division in California.

A full-fledged release in that state and Texas is expected in 2025, according to the billionaire.

The hype surrounding the sale of bitcoins

This caused concern among the community, as the sale of such a volume of the asset could have collapsed the exchange rate.

Later, Arkham Intelligence experts refuted these suspicions.

According to their data, the company retained full control over the assets. A possible reason for the rebalancing was Tesla's plans to take a loan secured by crypto-assets, but this information remained unconfirmed.

According to official data, Tesla controls 9720 BTC.

Arkham Intelligence experts cite a different number - 11,509 BTC. Tesla invested about $1.5 billion in bitcoin in February 2021.

In Q2 2022, the company sold 75% of the total portfolio.

The next sale was in Q4, after which the assets were revalued at $184 million.

This is the number displayed in Tesla's Q3 2024 balance sheet.

At the time of writing, bitcoin is trading at $67,400. Taking this into account, the firm's unrealized profit is about $471 million.

Shares of Tesla (TSLA) reacted to the release of the report with a rise. On the premarket, their exchange rate rose from $213 to $239 at the time of writing.

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What could support Solana (SOL) price growth of almost 30%

Here's a look at what factors could be driving Solana (SOL) above the $200 mark for the first time since April

Solana's Level 1 (L1) blockchain has seen a significant increase in user activity over the past month. Over the past 30 days, the number of active addresses and transactions on the network has grown by double digits. Such trends could support the SOL's first breakout above the $200 mark since April.

The number of Solana users is growing

Demand for the Solana network has grown significantly over the past 30 days, as evidenced by the increase in the number of daily active addresses. According to Artemis, 7 million unique addresses made at least one transaction on Solana during this period. This represents a 70% increase on the previous figure.

The increase in active addresses also led to a corresponding increase in the daily transaction volume on the network. During the same 30 days Solana processed 44 million transactions. The growth of the index amounted to 24%.

The inflow of new users to Solana has strengthened its position in the decentralized finance (DeFi) segment. Over the last week, Solana overtook Ethereum and other major networks such as Base, Arbitrum and Polygon in terms of daily trading volume on decentralized exchanges (DEX). The figure for Solana was over $13 billion, far surpassing Ethereum with its $8 billion.

In addition, the total value of assets locked in the Solana protocol (TVL) reached $6.22 billion, the highest since January 2022.

SOL prediction: the key factor is network utilization

As the number of network users increases, the practical utility of its core asset (in this case SOL) increases. High network utilization means more transactions. These often require more of the network's native tokens to pay fees. This drives demand for the asset and raises its price.

If activity on the network continues to grow and increase demand for SOL, the price could overcome the resistance level at $172.53. Its net breakout would send the altcoin to $194.12. If the bullish momentum continues, Solana could recover above $210.18. The price has not visited this level since March.

However, if user activity drops and demand for SOL weakens, the price could test support at $148.15. Failure to defend this level risks a drop to $133.76, which would negate optimistic forecasts.

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Norway's central bank decides whether to launch a digital krone

Deputy Governor of the Central Bank of Norway (Norges Bank) Pål Longva announced that the regulator will decide on the launch of its own digital currency (CBDC) by the end of next year.

The official said that Norges Bank is trying to keep up with central banks in other European countries by studying and testing state-owned stablecoins. The central bank is now studying retail and wholesale versions of the future digital Norwegian krone. The retail CBDC will be available to individuals for everyday use, while the wholesale version should simplify and speed up transactions between financial institutions.

Longva said that many central banks have recently focused on the wholesale model because of its possible advantages for the banking system, and Norges Bank will also focus its efforts in this direction. According to the official, smooth implementation of retail CBDC will require cooperation with commercial banks and other stakeholders. Therefore, the Norwegian central bank is still assessing the potential challenges and obstacles that may arise with the retail digital krona.

"We are keeping pace with many central banks as we explore complex technical issues. We still have a lot to consider and evaluate, so right now we do not see an urgent need to launch a state-owned stablecoin,” Paul Longva said.

The pilot project to test the digital krona, which has been in development for more than two years, is in its so-called fifth phase. In 2022, the Norwegian financial regulator launched a sandbox to test the CBDC to see if it could ensure the stability of the state currency and the financial system.

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Что нужно знать об аирдропе X Empire перед листингом X

За несколько месяцев «тапалка» X Empire привлекла более 50 млн пользователей. Рассказываем, что нужно знать об аирдропе X игрокам.

Токеномика X Empire

Согласно токеномике, общая эмиссия X составит 690 млрд токенов. Их распределят следующим образом:

-- 70% пойдет сообществу;
-- 30% оставят для новых игроков и следующих фаз игры.

Как заклеймить токены

Для того чтобы получить аирдроп X, необходимо зайти в приложение X Empire в «Телеграме». В настоящее время игровой процесс приостановлен, поэтому при открытии игры появится страница с информацией о раздаче токенов.

В оранжевом окне можно увидеть, сколько токенов вы получите в ходе аирдропа. Если никаких цифр на вашем экране нет, значит, к распределению X вас не допустили (как и автора статьи). Вообще из почти 50 млн игроков в раздаче примут участие только 6 млн, что сильно разочаровало сообщество.

Заработанные активы пользователи могут пожертвовать основателю «Телеграма» Павлу Дурову или команде X Empire.

Если донатить не очень хочется, «тапалка» предлагает несколько вариантов вывода X:

-- на централизованную биржу (CEX);
-- в криптокошелек внутри «Телеграма»;
-- ончейн — эта опция предназначена для других криптокошельков.

Вывести средства на биржу или в Wallet можно без комиссии. В случае выбора третьего варианта игрокам придется заплатить $0,02.

Что делать с токеном X

Сделать с токеном X можно все, что угодно. Например, продать. На премаркете, который открыли Bitget и KuCoin, монета сейчас торгуется примерно по $0,0002. Однако какой будет цена после листинга — никто не знает.

Монета X также может пригодиться для участия в раздачах от других проектов. Так, Memes Labs и Staff Only уже объявили о том, что выделят по 2% от общей эмиссии своих токенов для вознаграждения активных держателей X.

Команда X Empire также разрабатывает коллекцию утилитарных приложений. В планы разработчиков входит создание приложений для новостей и изучения языков, а также трекер сна. Ожидается, что в новых инициативах «тапалки» играть центральную роль будет токен X

Когда именно начнется следующая фаза X Empire остается неизвестным. Зато в конце октября начинается второй сезон другой популярной «тапалки» — Hamster Kombat (HMSTR).

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Chainlink holders accumulate funds

Chainlink is a leading middleware that securely connects decentralized applications with external data. While the platform plays an important role in many cryptocurrency sectors, especially DeFi, LINK has been struggling lately.

Link holders transfer tokens from exchanges: are they accumulating?

However, IntoTheBlock's blockchain data shows that more and more holders are withdrawing tokens from leading exchanges such as Binance and Coinbase. In a post on X, the analytics platform notes that trading volume on the exchanges has been negative over the past month, indicating a steady withdrawal of funds.

Usually, when tokens move off exchanges, it could indicate that the owners are confident about what the future holds. As a LINK token supported by many DeFi protocols, it may indicate that holders are interested in using these decentralized applications and possibly generating passive income.

The more transfers from centralized platforms, the higher the likelihood of simultaneous price increases, which is a positive for LINK bulls. According to Etherscan, Chainlink had 1 billion LINKs distributed across 721,996 unique addresses as of Oct. 23.

These holders, in turn, transferred LINKs more than 15.8 million times. The onchain data at a deeper level shows that Binance controls over 4.2% of the total supply. The number of channels under their control exceeds $479 million at spot rates.

Chainlink creation: will the price rise above $20?

Judging by IntoTheBlock data indicating net outflows from exchanges, there is a chance that LINK will find support and resume the uptrend seen in the last few trading days. Resistance for LINK is at $12.3 and a double bearish formation is forming after this morning's drop.

However, even if prices break above the level, pushing the bears away, the bulls should decisively consolidate above the double top at around $13. A possible bounce would open the way for LINK bulls to build a solid base for a rise to $20.

The pace of that rise depends on how leading altcoins, including Ethereum, behave. If Ethereum prices recover and surpass $3,000, this could revitalize demand for DeFi and NFT, which would lift LINK.

In addition, the price will be influenced by the team's progress. Yesterday, October 22, Chainlink Labs launched the Chainlink Collaboration Interconnect Protocol (CCIP) for private transactions. This feature ensures data privacy without violating existing laws governing internetwork transactions.

The solution utilizes the Blockchain Privacy Manager middleware. Thus, partner banks and other financial organizations can securely connect private blockchains to other registries whenever they exchange sensitive information.

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Bitcoin whale numbers hit highest since January 2021

-- A surge in the number of whales is boosting the likelihood of Rally to record highs.
-- According to CryptoQuant, the pace of accumulation by retail investors has slowed recently.

The number of large Bitcoin holders is on the rise again, reinforcing the likelihood of a Rally price to new record highs .

Data tracked by Glassnode and Andre Dragosz, director and head of European research at Bitwise, shows that the number of so-called whales or network entities holding at least 1,000 BTC rose to 1,678 earlier this week, reaching its highest level since January 2021.

The growing accumulation of funds by large holders, along with sustained demand for alternative instruments, especially US-listed spot ETFs, indicates growing confidence in the bitcoin price outlook.

Entities are defined as clusters of Crypto addresses owned by a single network member holding at least 1,000 BTC. Entity whales are being closely monitored given their ability to affect liquidity and prices.

Meanwhile, according to analytics firm CryptoQuant, the pace of accumulation by retail investors has slowed, with the price of cryptocurrency approaching $70,000.

“Over the past thirty days, retail assets have grown by just 1k Bitcoin , which is a historically slow pace,” CryptoQuant analysts told CoinDesk.

“Since the beginning of 2024, assets of other large investors (those holding between 1k and 10k Bitcoin) have grown faster than retail investor assets on a year-over-year basis. To date, retail assets have grown by 30k Bitcoin compared to 173k Bitcoin of other large investors,” the analysts added.

At the time of publication, Bitcoin was trading just above $67,000, just 10% short of setting a new lifetime high above $73,800. Prices briefly topped $69,000 on Monday before losing momentum, presumably due to the continued rise in the dollar index and Treasury bond yields.

Some analysts believe that rising yields won't weigh on risk assets for long and that the path of least resistance for BTC lies on the higher side. Options traded on the dominant Deribit exchange point to the $80,000 and $100,000 levels as levels to watch for the rest of the year.

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TVL of Solana network reached its highest level since January 2022

-- Solana Network's TVL reached the $6.43 billion mark.
-- This is the highest since January 2022.
-- SOL coin is trading near the $167 mark.

The total value of blockchain assets (TVL) in Solana's L1 network has reached the $6.43 billion mark, a figure last seen in January 2022.

Among Solana-based projects, the leaders in terms of TVL are the liquid steaking protocol Jito and the decentralized exchange Raydium. At the time of writing, the total value of assets blocked in them is $2.23 billion and $1.8 billion respectively.

Note that the Solana network is the third largest in terms of TVL. The closest competitor - TRON - has $6.94 billion, while Ethereum has more than $48.3 billion.

Solana coin (SOL) is also showing growth. In 30 days, the price of the asset has grown by almost 15%, at the time of writing it is trading near the $167 mark.

Solana's capitalization has reached the level of $78.23 billion, the last time such a figure was observed in August 2024:

Recall, earlier experts at Standard Chartered said that Solana is overvalued compared to Ethereum.

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Dogecoin (DOGE) soared 9% overnight and may rise in price

In the last 24 hours Dogecoin (DOGE) shows an impressive performance, continuing to grow even in a weak market. All because the memcoin's rally is supported by several external factors at once

Let's understand what's going on with Dogecoin (DOGE) price and whether the growth of the memcoin will continue.

Dogecoin has a lot of support

Over the past 30 days, the Dogecoin exchange rate has soared by an impressive 56.5%. This was facilitated by several positive signals at once - the celebration of Doge Day, which traditionally took place on November 2, and the tweets of American businessman Ilon Musk, who often mentions his favorite memcoin.

Due to DOGE's active presence in the infopole, the number of active addresses per day (DAA) remains consistently high. This metric is important for the asset's price to continue to rise. As the DAA stays steadily in the positive zone, memcoin has every chance for a further rally.

Meanwhile, IntoTheBlock notes an increase in the number of short-term Dogecoin holders. The number of investors holding DOGE for the last 30 days has increased compared to the number of those who have held the asset for more than a year.

Such dynamics indicates an increased interest in the cryptocurrency and the activity of new market participants. This is another factor that can support Dogecoin's upward movement.

Earlier, the editorial staff of BIC told how the politics of America and meme tokens are connected. Read about how the results of the US presidential election will determine the future of memcoins in our research.

DOGE forecast: waiting for a “bull flag”

At the time of writing this analysis, DOGE is trading at $0.1713, having risen in value by 8.9% in the last 24 hours.

The results of the previous BIC analysis showed that a bullish flag may be forming on the cryptocurrency's chart. This pattern often heralds a new round of growth after a short-term consolidation. If the assumption is correct, Dogecoin may grow by ~12% and reach $0.19 in the near future.

Nevertheless, some external factors - for example, the defeat of Donald Trump at the presidential elections in the United States, which started today - may provoke a sell-off of the memcoin. In such a case, DOGE is threatened with a drawdown to $0.14.

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Sellers are dominating the Toncoin (TON) market

Toncoin (TON) has been facing serious bearish pressure lately, which has been preventing the token rate from starting to rise. However, some indicators are hinting that the trend could change soon enough

Let's find out what is happening with Toncoin (TON) and whether the token has enough strength to recover.

Toncoin is at the mercy of the bears

The Relative Strength Index (RSI) for Toncoin is now at 29.69. Over the past few days, values have risen from a low of 26. That said, all values below 30 indicate that the cryptocurrency is in an oversold zone.

This change could signal that the cryptocurrency is ready to launch a recovery. Often, RSI values below 30 also indicate that the asset is undervalued. This could be the point from which the price will rebound.

Meanwhile, traders have transferred about 30 thousand TON to crypto exchanges in recent days. Usually, such mass movements of coins foreshadow possible sales. Therefore, the withdrawal of cryptocurrencies to trading floors is traditionally considered a bearish signal.

However, the volume of new tokens on exchanges can not be called critical. Even in the case of a sell-off, this factor is unlikely to put serious pressure on the Toncoin exchange rate.

Toncoin forecast: reverse the trend

At the time of writing this analysis, Toncoin is trading at $4.60, having shed more than 5% over the last 24 hours.

Analyzing the EMA lines for the cryptocurrency allows us to conclude that the downtrend will continue in the near future. The chart below shows that the price of TON is under all EMA lines; also short-term lines are located under long-term ones. This picture indicates a strong bearish trend and the dominance of sellers.

If the trend does not reverse, the altcoin is at risk of falling to $4.45. At this level there is support, which can help the price to stabilize.

However, if the market's interest in TON increases, the cryptocurrency will have a chance to test resistance at $4.91.

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What's holding back Cardano's (ADA) price recovery

Cardano (ADA) price is under sustained pressure, with multiple technical indicators pointing to a strong bearish trend.

The ADX indicator confirms the strengthening of the bearish trend recently, suggesting that sellers are dominating the Cardano market. The Ishimoku cloud and EMA lines also confirm this outlook. ADA is trading below key resistance levels and a death cross formation has recently appeared on the chart.

Cardano: strong current trend

The ADX indicator assesses the strength of a trend, and values above 25 usually indicate a strong trend. In the case of Cardano, the indicator rose to 36.76 against a value of 17 just a few days ago. This increase indicates that the current trend has strengthened.

Accordingly, ADA is now in a strong downtrend, under sustained selling pressure. This may mean that there is little chance of a price reversal in the near future, as long as ADX does not start to decline.

The Ishimoku cloud predicts a decline

The Ishimoku cloud reflects a bearish outlook for Cardano (ADA): the price is below the cloud. This usually means that the asset may continue to fall as it fails to recover above key resistance levels.

The cloud is highlighted in red, and indicates potential resistance to growth attempts. The Tenkan and Kijun lines are above the price, emphasizing the bearish bias and showing that the sellers are controlling the market.

In addition, the short-term EMA lines on the chart are located below the long-term ones, confirming the bearish trend. This indicates a possible continuation of the price decline if there is no breakout of the cloud. Such a breakout may indicate a possible trend change. However, under current conditions, consolidation or further decline is more likely.

ADA forecast: whether recovery after corrections is possible

All EMA lines pass above the current Cardano price, confirming the bearish bias. This arrangement of MA, together with the recently formed “death cross”, speaks of strong pressure and shows that sellers are in full control of the market.

If the downtrend continues, the price may soon reach the $0.31 support level. If the strong bearish momentum continues, it will be able to go even lower.

However, if the sellers' pressure weakens and the uptrend starts, ADA may try to reach the next significant resistance level at $0.36 (+9% from the current price). The future dynamics of ADA will largely depend on the change of the current bearish mood to a more optimistic one.

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Ether worth $200 million transferred to derivatives exchanges, beware of volatility

Analysts at CryptoQuant claim that 82,000 Ethereum (ETH) has been invested on derivatives exchanges

Over the past few hours, a huge amount in ether (ETH) has been moved on derivatives exchanges. This is usually a signal of a downturn or at least increased volatility, CryptoQuant says.

82,000 Ethereum (ETH) on its way to exchanges, volatility expected

Ethereum (ETH), the second-largest cryptocurrency, is experiencing a record influx of liquidity on derivatives exchanges. Today, November 5, 2024, more than 82,000 ETH coins have been moved to cryptocurrency trading services. Such estimates were shared by the well-known analyst CryptoQuant.

In equivalent, this huge transfer equals more than $200 million. This is the largest influx of ETH to derivatives exchanges in recent months, CryptoQuant data says.

The analyst recalls that previous large fund flows have resulted in a decline in the price of Ethereum (ETH) or increased volatility.

Combined with Ethereum (ETH) community sentiment, this influx could be a signal of a potential downtrend.

As U.Today previously reported, DOGE, SHIB, and XRP are experiencing a surge in whale transfers today. Such movements also signal potential volatility approaching the altcoin segment.

ETH/BTC has been hitting new lows on a regular basis

Ethereum (ETH) has lagged behind Bitcoin (BTC), the largest cryptocurrency, in this cycle. While the former coin is struggling to reach levels comparable to ATH March 2024, Ethereum (ETH) is still struggling with the $2500 levels.

Amid BTC's current jump above $70,000, the ETH/BTC ratio is aiming for a new multi-year low. According to TradingView, it touched 0.035 today, the lowest level since March 2021.

This crucial measure of Ethereum (ETH) price is down 58.3% from its peak at the end of the fourth quarter of 2021. Bitcoin (BTC) dominance, on the other hand, is reaching new highs.

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OpenSea CEO announces new platform built from scratch

Prominent NFT trading platform OpenSea is looking to reinvent itself as trading volumes of non-replaceable tokens have dropped to their lowest level in more than three years.

On Monday, OpenSea CEO Devin Finzer posted a post to X talking about the new platform. “We've been slowly working on OpenSea,” he said. - To truly innovate, sometimes you have to take a step back and rethink everything. That's why we built the new OpenSea from the ground up.”

OpenSea also announced the new platform on its X account, saying it will launch in December. The marketplace also has a link to sign up for the waitlist. The announcement of the new platform follows almost exactly a year after OpenSea laid off half of its staff before Finzer said the company had begun work on “OpenSea 2.0.”

After being the dominant marketplace for NFTs for years, including during bull markets when tokens from popular collections like Bored Apes Yacht Club sometimes sold for millions of dollars, OpenSea was supplanted by newcomer Blur at the end of 2022. As the two sites fought for market dominance, overall trading volumes declined. OpenSea has recently managed to regain some of its market share, but according to The Block Data Dashboard, total trading volumes are at their lowest level in more than three years.

One trend that Blur's success over OpenSea seems to have demonstrated is that NFT traders are increasingly interested in using platforms that offer more than just basic buying and selling functionality. Blur's success also suggests that traders want more sophisticated trading tools, while the platform attracts new users with rewards in the form of tokens.

OpenSea's redesign comes at a time when there appears to be little hope for NFT's growth. In January of this year, monthly NFT trading volume based on Ethereum's non-interchangeable tokens reached $868 million, before dropping to $300 million in June and $136 million last month, according to The Block Data Dashboard.

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BlackRock fund to launch unexpected altcoin network

According to the latest information, the BlackRock BUIDL fund, which was previously hosted on the Ethereum network, will also be hosted on Avalanche (AVAX).

According to the latest information, Securitize, the digital platform that manages the fund, has launched the income-generating BlackRock BUIDL fund on the Avalanche blockchain.

Originally launched on Ethereum, BUIDL was created to allow qualified investors to earn returns in U.S. dollars through a blockchain-based subscription from Securitize Markets, LLC.

Essentially, BUIDL allows investors to own $1 fixed-value tokens and receive daily dividends that are paid directly to investors' wallets.

The fund maintains its liquidity by investing in cash, U.S. Treasuries, and repurchase agreements. By tokenizing the fund, BlackRock aims to increase investor access, provide transparent reconciliation and simplify the transfer of funds between platforms.

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The number of active Solana addresses per month has grown to 138 million

The number of active addresses on the Solana (SOL) network reached 138 million this month after growing exponentially throughout the year amid a recovery in the cryptocurrency market as a whole.

According to Artemis data, Solana had about 13.8 million active addresses per month at the beginning of the year, a figure that gradually grew through the summer. Since August, the number of active addresses on the network has increased dramatically, from about 40 million at the end of August to more than 100 million in early October. This figure has grown by more than 30% in the last month.

The increase in the number of active addresses per month comes on the back of an increase in the total blockchain value (TVL) in Solana's decentralized finance ecosystem. The data shows a significant influx of funds since the beginning of the year. As CryptoGlboe reports, $2.36 billion of that inflow has come from Ethereum, although $1 billion of those funds have returned to ETH.

The data shows that only 2.7% of Ethereum's TVL has moved into Solana to date, with the second largest network by market capitalization losing $6 billion this year.

Nevertheless, Solana's growth this year has been significant: its price has far surpassed most other digital assets, and it has nearly overtaken Binance's BNB to become the fourth largest digital currency by market capitalization.

The Solana ecosystem suffered due to the collapse of FTX in November 2022. Executives of the exchange were known supporters of Solana and owned large stakes in SOL. The collapse caused Solana's price to fall by nearly 70% amid general market panic.

The collapse of FTX raised concerns about the sustainability of the Solana ecosystem. It is estimated that about 20% of Solana-based projects at the time received investment from FTX or its subsidiary Alameda Research.

Since then, investors have renewed their interest in the Solana ecosystem, and projects such as Pump.fun and decentralized cryptocurrency exchange Raydium have seen a surge in activity over the past few months, as first reported by The Block.

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Robert Kiyosaki advises buying more bitcoins during Uptober

Renowned investor and author of the best-selling personal finance book “Rich Dad, Poor Dad” Robert Kiyosaki shares his opinion on what savvy investors should do during the month of “Uptober.”

Bitcoin's [expected] surge during Uptober signifies an opportunity to acquire more bitcoins, or “go ahead and say goodbye.”

Apparently, Kiyosaki believes the traditional October rise is still to come, and it will be substantial.

Bitcoin began rising on Oct. 10 after briefly falling below $59,000 earlier in the month. This has revived hopes that a rally to a new high near $100,000 is possible. Statistically, October has often been an outstanding month of strong bitcoin performance, with the impact of the bullish momentum extending into May.

Unlike other analysts and financiers, Kiyosaki is consistently optimistic about BTC and sees it, along with gold and silver, as the main safe haven from the devastating effects of the coming economic crisis.

Other experts express their confidence that despite the ups and downs, bitcoin remains in an uptrend and could rise above $85,000 by October 31.

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Vietnam unveils strategy for blockchain development

The Vietnamese government has approved a new National Strategy. It deals with the application and development of blockchain technologies until 2025 with a perspective until 2030. According to the decree signed by Prime Minister Ho Duc Phoc, this is the key direction of the 4th industrial revolution. The main focus is on developing a robust digital infrastructure that will ensure data security and create conditions for the country's economy to grow.

As part of the strategy, by 2030, Vietnam aims to become a leader in the region in blockchain technology research and adoption. Among the ambitious goals are to create 20 reputable blockchain-based brands and maintain a minimum of 3 testing centers in the country's largest cities. Importantly, the plan also calls for Vietnamese institutions to be among the top 10 blockchain-related education and research institutions in Asia.

To achieve the goals, the government has developed a 5-year plan that includes improving the legal framework, building infrastructure for the blockchain ecosystem, developing human resources and international cooperation. Various ministries will participate in the implementation of the program.

These include the Ministry of Information and Communications, the Ministry of Education and Science, and the Committee of Cryptographic Technologies, which emphasizes the inter-ministerial nature of the project.

The Vietnam Blockchain Association (VBA) has a special role to play in the development of the blockchain industry, which will promote platforms and solutions created domestically. The organization plans to attract local technology companies, encourage information sharing and strengthen international competition. According to Phan Duc Trung, vice chairman of the VBA, the strategy will be an important step in building a transparent, secure and sustainable digital economy, which is in line with the government's long-term goals.

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GOAT cryptocurrency has risen sharply

Goatseus Maximus, Pump.fun's new meme coin, has risen in value by more than 50% after being added to several exchanges and its volume increased.

The Goatseus Maximus (COZEL) exchange rate rose to a record high of $0.6794, well above last week's low of $0.045. Its market capitalization jumped to $668 million from about $48 million during the period to $668 million from $668 million.

This jump was due to three main factors. First, the futures contract was added to Bybit, one of the largest cryptocurrency exchanges in the industry. The listing gives users the ability to trade with up to 12.5x leverage.

GOAT will also be featured on Woo, another popular exchange. Other exchanges where it is listed on the spot market are BitMEX, Bitget, Gate.io, HTX and Crypto.com. According to CoinGecko, most of its volume is on Orca, the second largest DEX in the Solana ecosystem (SOL).

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Cryptocurrencies often rise in value after listing on some of these tier-one exchanges because it's often seen as a sign of recognition. The listing also helps bring the token to the attention of millions of crypto investors. That explains why its daily volume rose to more than $384 million on Tuesday.

The GOAT token has also increased in value due to increased whale activity. For example, according to Lookonchain, one trader withdrew $5.4 million worth of Solana tokens and invested $3.39 million in GOAT. Another trader withdrew $2.4 million worth of Solana tokens from Binance and bought GOAT.

In most cases, such large purchases and surges in token popularity cause traders to fear missing out on the gains and the token rises in value.

GOAT's rise made it the most popular token in the Pump.fun ecosystem. It has also helped increase the total market capitalization of the ecosystem to more than $2.1 billion. Other popular tokens in the ecosystem include Fwog, Michi, and Moo Deng.

GOAT token overcame key resistance

On the hourly chart, the GOAT token jumped from a low of $0.1695 on Monday to a high of $0.7335. As it rose, it turned an important resistance point at $0.5705 into support, canceling a double top pattern that was forming.

The token also rose above the 25-period moving average. Therefore, despite likely further gains, GOAT could fall and retest support at $0.5705 and then resume the bullish trend. This is called a “breakout and retest”.

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Scroll (SCR) fell 19% one day after going public

Over the last 24 hours, the Scroll (SCR) token has lost almost 20% in value. The bearish mood is intensifying: more losses are ahead

The Ethereum layer-2 (layer-2) Scroll network has launched the SCR token. The long-awaited airdrop took place on October 22. However, many participants were dissatisfied with the amount of SCR received, which provoked a token sell-off.

The Scroll airdrop was the cause of the problems

The team's blog states that the Scroll airdrop distributed 5.5% of the total SCRs - 55 million out of 1 billion tokens - to early participants in the ecosystem. However, many users of the L2 network were disappointed with the amount of coins received and dissatisfied with the token distribution strategy. Many were angered that the project put Binance customers ahead of its loyal user base.

One user, Joshyy, described it as “the worst airdrop to date.” He “invested $60 in farming Scroll, only to receive $973 $SCR.” Another user stated that he dumped the tokens he received through Airdrop and withdrew all his assets from this blockchain network.

SCR owners are selling assets

Since the launch of SCR, there has been a surge in sales, which has led to the token value plummeting by double digits. The picture on the hourly chart predicts a possible further decline.

The bearish mood towards the altcoin is intensifying. This is evidenced by the negative value of the Bull Bear Power (BBP) indicator, which reached -0.10. It shows the balance of power between buyers and sellers in the market. The negative value of BBP indicates that the market is under the control of bears.

In addition, the price of SCR approached the lower boundary of the Bollinger Band (BB). This usually indicates a downtrend or selling pressure. Although the lower boundary usually serves as a support level, sustained trading in this area usually indicates bearish momentum.

SCR outlook: the coin is at risk of falling to new lows

SCR is now trading just above the $0.99 support level, an all-time low since launch. Further selling could push the price below this level as soon as possible.

However, if the market mood changes from bearish to bullish and the demand for SCR grows, the price will start growing towards the resistance at $1.55. Successfully overcoming this level will bring into play the next resistance at $1.72.

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Ethereum (ETH) price could soar to $10,000, analyst predicts

According to cryptocurrency analysts using technical analysis, the price of Ethereum could soar to $10,000 per ETH, up from the cryptocurrency's current price of $2,570.

In a post on microblogging platform X (formerly known as Twitter) to more than 60,000 followers, analyst Trader Tardigrade predicted that the price of Ethereum could hit a high of $10,000 after breaking out of an ascending pattern formed by symmetrical triangles.

The trader noted that the first time the Ethereum price broke out of such a structure, it rose 70%, and the second time it rose 140%. If there is a third breakout, the analyst wrote that based on previous upside and growth at each upside, the price could rise 280% to $10,000 per ETH.

A symmetrical triangle pattern is formed by drawing trend lines, one descending and one ascending, along a converging price range. To confirm a valid and not a false breakout, traders should look for rising volume and at least two consecutive closes outside the trendline, according to Investopedia.

Symmetrical triangles usually indicate that price will continue to move in the same direction as it did before the triangle formed. Therefore, traders expect price to break upwards if a symmetrical triangle follows an uptrend.

As CryptoGlobe reported earlier this month, Matthew Siegel, head of digital asset research at global investment firm VanEck, noted that the company's $22,000 target price for ETH is set for 2030, but acknowledged that Ethereum's changing fundamentals indicate that their valuation model needs to be updated.

Siegel explained that their original model assumed a 50:50 split of total blockchain value (TVL) between Ethereum and L2, and a 50:50 split of maximum extractable value (MEV), which they estimated at 0.10% of TVL per year.

According to him, there is a serious discrepancy in the distribution of transaction revenue between Ethereum and L2. While the original model suggested a 90:10 distribution in favor of Ethereum, the actual distribution over the past four months has been 10:90 in favor of L2.

Siegel said that this shift demonstrates that L2 tokens are receiving significantly more from Ethereum than originally expected. He went on to say that if this 10:90 split continues, VanEck's target price for ETH will drop by two-thirds.

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Brad Garlinghouse makes a statement about the XRP ETF

Ripple Labs CEO Brad Garlinghouse believes that it is only a matter of time before the company launches an exchange-traded fund for XRP.

In an interview with Bloomberg Television, Garlinghouse expressed confidence that the XRP ETF will eventually be approved, which would be a major milestone for Ripple amid its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

“It's inevitable,” Garlinghouse said, noting the growing demand for cryptocurrency-backed ETFs and the massive influx of funds into bitcoin ETFs following their approval earlier this year.

“Since bitcoin-backed funds were first approved in January, $17 billion has flowed into the fastest-growing ETF in history,” Garlinghouse said. - This clearly shows that there is demand from organizations and retailers to access this asset class.”

Earlier in October, Bitwise Asset Management Inc. became the first firm to file with the SEC for an ETF tracking XRP, currently the world's seventh-largest cryptocurrency. Shortly afterward, Canary Capital Group, a digital asset-focused investment firm founded in September, also filed for a similar product, the Canary XRP ETF.

Garlinghouse said the approval of cryptocurrency ETFs signals a trend toward greater institutional participation in the digital asset space: “It puts upward pressure on the prices of a lot of different cryptocurrencies, including XRP,” he said. * Not investment advice.

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XRPLedger is now available on MetaMask with Snap

In a major development, MetaMask users can now easily access XRP Ledger with a single click. In a new tweet, Peersyst, the Ripple partner developing the XRP Ledger EVM sidechain, announced the launch of XRP Ledger Snap for MetaMask. MetaMask Snaps are modular extensions that allow developers to extend the functionality of the MetaMask wallet.

This extensibility means that Metamask's 30 million monthly active users are now just one click away from creating an XRP Ledger account, creating a unique opportunity to accept and manage XRP Ledger assets in the Metamask crypto wallet.

XRP Ledger Snap will allow users to interact with XRP Ledger (XRPL) using their MetaMask wallets. Users will be able to manage XRP and other tokens on XRPL, execute transactions, and interact with XRPL-based decentralized applications (dApps) without leaving the MetaMask interface. Snap fills the gap between MetaMask and the XRP Ledger, bringing the benefits of XRPL to the popular Ethereum wallet.

Snap also includes all the current features available in XRPL mainnet and testnet and can be used by any dApp to connect and sign transactions. Other features include a web wallet that allows users to manage their XRP Ledger accounts, tokens and trust lines, and Transak on-ramp.

XRP Ledger compatibility at work

Ripple's engineering team is working closely with Peersyst to extend XRP Ledger interoperability through the XRPL EVM Sidechain, which will open new opportunities for XRPL developers in decentralized finance (DeFi) and real-world asset (RWA) tokenization, driving innovation and expanding the utility and reach of the network.

Connecting the XRPL EVM Sidechain to the XRPL mainnet will involve the use of a bridge, with the wrapped XRP (eXRP) serving as the native asset and gas token. This bridge facilitates the transfer of assets between XRPL and EVM Sidechain EVMs, ensuring interoperability.

The XRPL EVM Sidechain will be launched with Axelar acting as the exclusive bridge to the native sidechain gas token (eXRP) from XRPL. Axelar can also be used to bridge additional interoperable tokens to and from the main XRPL network, as well as from the more than 55 blockchains in the Axelar network.

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Chainlink has introduced a new CCIP Private Transactions feature for financial institutions

Chainlink has launched CCIP Private Transactions, a new privacy feature powered by blockchain technology and aimed at enabling financial institutions to maintain data confidentiality, integrity and compliance in cross-chain transactions. In its announcement, Chainlink said this development addresses pressing privacy concerns that have so far limited institutions' participation in blockchain ecosystems due to the need for secure, private transactions.

One of the first users of the technology is the Australia and New Zealand Banking Group (ANZ), which will pilot the capability as part of the Monetary Authority of Singapore's (MAS) Project Guardian. This project focuses on cross-chain settlement of tokenized real-world assets (RWAs), highlighting a use case that complies with regulatory standards such as GDPR and MiFID II.

Previously, financial institutions have been hesitant to interact with blockchain due to a lack of privacy solutions for cross-chain transactions. The rules require end-to-end privacy for interactions between private blockchains, as well as limiting data disclosure when transactions involve public blockchains. Chainlink said its CCIP Private Transactions aims to address this issue by providing a new encryption and decryption protocol that keeps transaction details private, including data, token amounts and involved counterparties.

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