Solana broke through the $200 level

-- On Nov. 8, the price of Solana rose above $200 for the first time since March 2024.
-- On a weekly chart, the gain is about 19%.
-- As with the crypto market in general, the driver is probably Trump's election victory.
-- Also, the Solana exchange rate could be pushed by high activity in the memcoin sector, as it was in the fall of 2023.

On November 8, 2024, the Solana (SOL) exchange rate broke through the $200 level for the first time in seven months. However, the asset failed to gain a foothold there.

At the time of writing, the coin is trading just below $200. For the week, the increase is about 19%, according to TradingView.

The growth of Solana, as well as the crypto market in general, in recent days is mainly due to the victory of Donald Trump in the US elections. We have dealt with this in detail in separate materials:

In particular, it has led to a new wave of discussions regarding the possibility of launching a Solana-ETF after a likely change in the leadership of the US Securities and Exchange Commission. In particular, Daniel Cheung, co-founder of hedge fund Syncracy Capital, believes that this could happen as early as the first quarter of 2024.

According to him, in this case, the rate of Solana is likely to overcome the $1000 mark. Recall, the current historical maximum price of the asset is $259, it was set in 2021.

Note that since the beginning of November 2024, the total blockchain value (TVL) of the Solana blockchain has grown by more than $1 billion.

The growth of activity in the ecosystem is also indicated by other metrics. In particular, it's the number of active addresses. According to The Block dashboard, this figure is consistently above the 5.3 million level in November 2024.

At that time, the driver was the memcoin sector. It is possible that its effect is still present now, as the pump.fun platform for creating and trading tokens remains extremely popular.

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Neiro hits ATH, bulls target $0.0030

First Neiro on Ethereum hit a new all-time high (ATH) of $0.0025 after a quick trend reversal. Will this meme coin continue its bullish trend this month?

With a 54% increase over the past 7 days, NEIRO is slowly approaching a billion dollar market capitalization. On the daily chart, the recovery growth has resulted in four consecutive bullish candles, pushing the price up nearly 100%.

As the bullish momentum behind First Neiro on Ethereum gains momentum, the broader market expects the uptrend to continue. With the token now trading near its all-time high, the likelihood of reaching the $0.0030 mark is increasing. Will this bullish trend continue? Let's take a look at it.

NEIRO Price Analysis

On the 4-hour chart, the double bottom reversal of the NEIRO token has surpassed the upper resistance line of the falling channel pattern. The bullish recovery from the breakout rally explains the 85% jump from $0.001266 (double bottom baseline) to the current market price.

The breakout has exceeded the previous ATH at $0.0021 and is now challenging the 1.272 Fibonacci extension level. As of press time, NEIRO is trading at $0.002336 with a 24-hour jump of 12.31%. Additionally, the token has registered a new all-time high of $0.0025 in the last 24 hours.

The surge in buying pressure triggered bullish crossovers in the exponential moving averages (EMAs). After the golden crossover and the recent 50-100-day bullish crossover, all key moving averages are aligned on a bullish trajectory.

However, the lack of momentum to exceed the $1,272 Fibonacci level at $0.00249 warns of a bearish crossover in the MACD indicator.

Will First Neiro cross $0.0025 on Ethereum?

Given the Fibonacci levels, the lack of momentum could lead to a temporary sideways trend on the 4-hour chart, potentially retesting the $0.002160 level or the 100% Fibonacci level. After a retest and subsequent reversal, the bullish trend is likely to continue, especially if the broader cryptocurrency market remains bullish.

The next price targets for First Neiro on Ethereum are $0.00249 and the psychological $0.0030 mark. In addition, the 1.618 Fibonacci level at $0.0051 is a potential longer-term target.

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Bitdeer has released the ASIC SEAL03 with 10 J/TH efficiency

Bitdeer has announced the “successful” completion of its third-generation SEAL03 bitcoin mining chip with an expected efficiency of 10 J/TH.

In its October update published on Wednesday, Bitdeer said it expects to receive the first samples of SEAL03 wafers in the second quarter of next year. Successfully debugging the chip is a critical step in validating its design and paving the way for production.

In addition, Bitdeer said it has begun mass production of its SEALMINER A1 and A2 bitcoin miners, which total 21.7 EH/s and run on first and second generation bitcoin mining chips. The Company expects to deliver 3.7 EH/s SEALMINER A1s by January 2025 for its own mining operations. Approximately 0.4 EH/s of these products are headed to Bitdeer's mining sites in Texas and Norway for full activation by Q1. Another 1.7 EH/s of A1 miners are currently in production.

Mass production of SEALMINER A2 has also begun as Bitdeer has secured foundry capacity for 18 EH/s hashrate, which will be allocated for third-party sales and in-house mining. Last month, the company revealed the specifications of its air-cooled and hydro-cooled A2 miners, which boast a hashrate of 226 TH/s and 446 TH/s respectively, both achieving 16.5 J/TH efficiency.

As Bitdeer plans to deploy the first SEALMINER units for its mining equipment fleet, the actual performance and efficiency of the A1 and A2 series cannot be independently verified until deliveries reach third-party customers.

Earlier this year, Bitdeer unveiled a roadmap for the development of its SEAL Bitcoin ASIC. “We will continue to provide updates on the progress of this hashrate as part of our commitment to transparency for all stakeholders, including shareholders, suppliers and especially customers who need clear guidance to make informed decisions,” said Linhui Kun, Bitdeer's chief business officer, in an October update.

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Tonhub has launched a cryptocurrency card with support for TON and USDT

Cryptocurrency wallet Tonhub has launched a Visa debit cryptocurrency card that allows you to pay with your balances in TON and USDT.

The card requires downloading a mobile app and undergoing identity verification. The service is available for citizens of the European Union.

According to the statement of TON Blockchain representatives, it is planned to expand to other regions in 2025.

List of countries that are planned to be connected in the future. Data: Tonhub.

Among the card's features:

-- easy KYC processing;
-- 1.5% transaction fee;
-- support for SEPA, SWIFT, Apple Pay and Google Pay.

“With Tonhub, your account is not just a bank record, but a smart contract linked to your wallet on the TON blockchain. You own and manage your funds directly, elevating your cryptocurrency wallet to the rank of a neo-bank,” TON Blockchain said in a statement

.

The card allows you to:

-- make online and offline purchases;
-- send fiat money with IBAN using a crypto-balance;
-- pay with cryptocurrencies with conversion at the time of payment.

Recall that in April, Tether added support for the TON network.

In September, the number of transactions on The Open Network blockchain exceeded 1 billion.

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Analysts have noted a flurry of activity in Cardano

Cardano (ADA) continues to attract the attention of crypto investors, having overcome the price mark of $0.43 for the first time since July. Over the past 3 days, quotes have risen by more than 25%, helped by a surge in activity on the network and an increase in the number of large transactions. At the peak, 697 transactions with amounts over $100 thousand were recorded in 1 day - this is the maximum figure since September. This behavior of “whales” may signal their interest in further increasing the value of the digital asset.

In addition, it was noticed that 37.89 thousand unique ADA-addresses made transfers in a day, which was also a record since the beginning of September. This data emphasizes: the network is attracting not only large investors but also retail users, which keeps the blockchain active.

This surge can be attributed to improvements in Cardano's infrastructure, including the development of decentralized applications and work on attracting new projects to the ecosystem. Notably, the platform is actively improving its technology stack, providing more flexible and affordable solutions for developers and users.

However, experts warn: this growth may be temporary and potentially comes with the risk of a pullback, especially if new investors enter the market in an attempt not to miss the moment (FOMO) after the US presidential election. Analysts note that ADA volatility remains high and the market could correct if bullish momentum begins to wane.

“Interestingly, Cardano's momentum fits into the broader context of growing interest in cryptocurrencies amid the market's recovery in recent weeks. That said, pressure from large holders can both support further growth and cause short-term fluctuations,” Santiment experts noted. Market observers are closely watching whether Cardano will be able to hold at these levels or whether the asset is waiting for another wave of correction.

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Experts noted differences in listing policies on the CEX

Analysts at research firm 0xScope have released some interesting statistics. They noted that data on listings on Tier 1 centralized exchanges in 2024 allows for interesting conclusions. According to them, Bybit is pursuing an aggressive strategy by listing over 300 different tokens. This carries a high risk, but also offers customers the potential for significant returns. According to experts, users should realize that such tactics can lead to a complete loss of investment if their bets don't play out.

When comparing other exchanges, they noted that Upbit and OKX perform better in terms of profitability among users, but the overall success rate still remains at around 35%. This emphasizes the need to choose digital assets for investment carefully.

There is also noticeable heterogeneity across cryptocurrency categories. Approximately 45% of meme tokens generate positive returns for traders on the CEX, while 96% of infrastructure digital currencies trade below the listing price. This points to differences in demand and trends between different types of virtual currencies.

"When it comes to meme tokens, their high volatility plays into the hands of speculators, providing significant profits for those who manage to get in and out at the peak. However, more traditional assets, especially in the infrastructure sector, often face slower growth and market pressure,” Platform X noted.

Based on these findings, it can be concluded that investors should scrutinize each asset category before investing. Soon analysts plan to release a more detailed report, which will help to better understand the strategic trends on the leading centralized exchanges.

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Escape of 43 monkeys triggered the rise of topical meme-tokens

On November 6, 43 rhesus macaques escaped from the Alpha Genesis Research Center in Yemassee, South Carolina, leading to a sharp rise in the value of monkey-themed meme coins. This is reported by Decrypt.

Specifically, the Solana-based Monkey (MONKEY) token rose 49% on November 7. Apes Go Bananas (AGB) in the same period showed a daily growth of 14%.

Social network X users have put forward theories as to why the animals escaped. Some suggested a government conspiracy to prevent the inauguration of President-elect Donald Trump.

Meanwhile, the Yemassee Police Department warned residents about the dangers of approaching the macaques and advised them to report their whereabouts to 911.

The company Alpha Genesis uses monkeys in clinical trials of drugs, including for the treatment of brain diseases.

Recall that in mid-September, the investor spent 6 SOL ($815) to buy 30.1 million meme tokens Moo Deng, named after a popular baby hippo from Thailand. At the end of the same month, the asset valuation reached $9.4 million.

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The second season of Hamster Kombat has sparked a new wave of scams

The announcement of the new season of the Telegram-clicker Hamster Kombat has provoked a wave of spam mailings from scammers. This is reported by “Izvestia” with reference to the data of “Kaspersky Lab”.

In the messages, hackers on behalf of the game developers offer to participate in airdrop HMSTR tokens worth from $300,000 to $3 million.

The attached link leads to a malicious website that requires a cryptocurrency wallet to be connected. The requested permissions, if approved, give the attackers full access to players' assets.

The scammers also create phishing pages with a link to the clicker. In October, BIZONE experts identified 241 domains containing the word hamster.

According to the updated roadmap Hamster Kombat, the second airdrop is scheduled for spring 2025.

Recall, in June, F.A.C.C.T. analysts recorded in Telegram two fraudulent campaigns targeting clicker players.

At the same time, the project is rapidly losing its player base - since its listing in September, it has decreased by 88%, from 300 million to 36.3 million users.

Earlier, the developers of Hamster Kombat hinted at the imminent launch of the second season and commented on the price reduction of HMSTR.

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Tron founder Justin Sun says to buy Ethereum instead of selling it

The cryptocurrency market is maintaining a bullish trend, with bitcoin setting higher highs while leading altcoins like Ethereum (ETH) and Tron (TRX) are capitalizing on it. Ethereum is now making a fresh attempt to reach the long-lost $3000 level after registering over 5% gains today and is trading at $2950.

Notably, the market-wide uptrend has continued for four consecutive days and market sentiment is now at a “greed” level. However, Justin Sun, founder of blockchain network Tron, believes there is more room for further upside.

It's not time to sell, keep buying and building

In a recent tweet, Sun expressed optimism about the current state of the crypto market, especially with regards to Ethereum.

Citing improvements in macroeconomic policy, Sun expressed confidence that the market's outlook is improving, suggesting that now is the ideal time for investors to focus on “accumulating and building” rather than selling off assets.

For context, the crypto industry is expecting the emergence of a transparent and favorable crypto policy now that the crypto-friendly Donald Trump has been elected President of the United States. Crypto Basic recently drew attention to Trump's seven major campaign promises.

Trump promised to remove SEC Chairman Gary Jensler, whose tough stance on cryptocurrencies has drawn criticism. He also proposed the creation of a National Bitcoin Reserve, suggesting that bitcoin could be used to reduce the U.S. national debt. To further boost the cryptocurrency sector, Trump promised to make the US the crypto capital of the world with pro-business regulation.

He also pledged to introduce clear, fair cryptocurrency regulations and create a cryptocurrency advisory board to guide policy. Another key promise is to protect the right to self-storage, allowing Americans to control their crypto assets without third-party platforms.

Finally, Trump expressed his opposition to central bank digital currencies (CBDCs), promising to block their development to protect financial privacy.

These promises signal potential major changes in the U.S. crypto industry once Trump takes office on January 20, 2025.

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Lamborghini will open the “Revuelto NFT” minting with Animoca Brands and Transak

Luxury car manufacturer Automobili Lamborghini will use cryptocurrency company Transak for its upcoming issuance of non-replaceable tokens.

On Nov. 7, Lamborghini will allow users to issue their Revuelto NFTs as part of the automaker's Fast ForWorld partnership with Web3 gaming and venture capital firm Animoca Brands.

The NFTs will allow users to drive digital Lamborghini in a wide range of games developed by Motorverse, Animoca Brands' digital car-focused project.

In a press release, Transak said it will be an “NFT Checkout” partner for the Fast ForWorld project. The announcement noted that users can choose payment methods through Transak's platform. This includes card payments and direct bank transfers.

Despite the recent data leak, Transak assures its users that the platform provides secure payment transfers. On October 21, the crypto-fiat payment platform suffered a data breach, with 92,000 users, about 1.14% of Transak's user base, affected by a phishing attack. In an announcement, Transak said that “no financial information” was compromised.

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NEIRO memcoin could replicate Dogecoin's success after Trump's victory

Analyst, founder and CEO of Mechanism Capital Andrew Kang said that not Dogecoin (DOGE) but First Neiro On Ethereum (NEIRO) will show a rally after Donald Trump's victory in the US presidential election.

In his opinion, it is NEIRO memcoin that could show rapid growth over the next few months, and it is hard to find a coin that has the same potential.

Interesting fact: NEIRO has recently shown signs of recovery, rising 42% in the last 48 hours to $0.001786. Importantly, it maintains its uptrend at the current moment as well.

The analyst believes that NEIRO is a natural successor of Dogecoin memcoin, and it will have the same brilliant fate as its predecessor. However, not everyone in the community supported Andrew Kang's point of view.

In particular, another analyst under the nickname Stream expressed doubts in this bold assessment and emphasized that crypto market leaders should not engage in the promotion of memcoins, no matter how promising they are.

Meanwhile, memcoins dedicated to politicians have shown significant volatility over the past couple of days and fell sharply in value after the results of the U.S. presidential election were announced.

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Binance has published its 24th reserve confirmation report

Binance exchange has unveiled its 24th digital currency reserve confirmation report, recording data as of November 1, 2024. According to the document, the cryptocurrency trading platform has over $120 billion in assets, covering 34 tokens. Bitcoin (BTC) reserves increased by 12.47 thousand BTC (2.09%) compared to the previous month, reaching 608.58 thousand BTC. The cryptocurrency ether (ETH) also showed a significant growth of 6.2%, or 274.48 thousand ETH, reaching 4.7 million ETH.

Notably, some reserves declined. The volume of Tether (USDT) stablecoins decreased by 559 million (-2.61%), totaling 20.85 billion. The drop in BNB reserves was particularly noticeable: the number of tokens decreased by 8.78%, or almost 3.65 million BNB.

Given the current volatility of the crypto market, the growth in BTC and ETH reserves may signal investor confidence, especially amid recent rate fluctuations and regulatory changes. The increase in ether also indicates interest in projects in the Ethereum ecosystem, including the introduction of new Tier 2 solutions and the active development of DeFi.

The decline in USDT reserves can be attributed to fluctuations in interest in stablecoins given changes in monetary policy and geopolitical instability. As for the sharp decline in BNB, this could be due to Binance's strategic reallocation of assets or a response to challenges regarding the regulation of the exchange's own ecosystem.

The release of regular reserve reports was part of Binance exchange's strategy to build trust among users and regulators. The platform continues to emphasize transparency, which is especially important against the backdrop of growing attention to cryptocurrency platforms from financial supervisory authorities around the world.

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Solana's TVL ecosystem exceeded $6.6 billion, up 360% YTD

The total TVL of the Solana-based decentralized application ecosystem has more than tripled since the beginning of the year, approaching Tron's figure.

By comparison, Ethereum's corresponding figure has increased by 136% over the same period.

Over the past 30 days, the total amount of blocked funds in the Solana ecosystem has grown by 22.23%, according to DeFi Llama. The current value of the metric is $6.64 billion, peaking in November 2021, briefly breaking the $10 billion milestone.

Solana's future prospects

During a conversation with Decrypt, CoinSwitch's top executive Balaji Srihari expressed hope that removing regulatory uncertainty will help Solana realize its full potential.

"Donald Trump's victory signals a potentially more favorable regulatory environment for the crypto industry. This could soften the SEC's strict stance on assets like Solana,” the expert said.

He added that the approval of an ETF based on the fourth most capitalized cryptocurrency will depend on the “complex interplay of regulatory and market dynamics.” In late October, the crypto investment company Canary Capital filed a corresponding application with the SEC.

At the time of writing, Solana is trading around $194 (down 25.6% from its all-time high). Over the past seven days, the asset has gained 14.2%, according to CoinGecko.

As a reminder, tech analyst Peter Brandt saw the potential for Solana to rise 27-fold to $4500.

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Ethereum derivatives market surged due to falling commissions

This year, the Ethereum derivatives market is rapidly gaining momentum due to falling fees, made possible by the widespread adoption of Layer-2 solutions. Previously, high transaction fees have hindered the growth and development of such protocols, but new technologies have changed the situation.

Layer-2 networks such as Arbitrum and Optimism have significantly improved the availability and convenience of trading by making transactions faster and cheaper. This progress has attracted new users and increased competition between decentralized platforms offering derivatives.

IntoTheBlock analysts note that this expansion is largely due to the growing interest in more complex financial products among crypto investors. As the market matures, participants are increasingly turning to derivatives to hedge risk and increase returns, which adds liquidity and stability to the ecosystem.

Layer-2 solutions have not only made transactions cheaper, but also improved overall transaction security. The reduced load on Ethereum's core network further supports the development of DeFi's infrastructure, increasing trading volume and driving innovation in the space.

Experts believe that with the further development of Layer-2, solving scaling issues will be key to accelerating the adoption of decentralized derivatives. The growth potential remains huge, especially with the emergence of new projects that intend to make the sector more accessible and transparent. If the current trend continues, the Ethereum derivatives market could become a powerful competitor to traditional financial solutions, offering more flexible and efficient solutions for hedging and speculation.

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Here's how quickly Gary Gensler could lose his post as SEC chairman under Trump

-- ONE of President-elect Donald Trump's many promises -- to fire Gary Gensler and appoint a new chairman of the U.S. Securities and Exchange Commission -- could happen as soon as Jan. 20, the day of his inauguration.
-- Gensler, for example, took office less than 11 weeks after being appointed by President JOE Biden on Feb. 3, 2021.
-- Gensler could also resign before Trump takes office, in which case the Democratic Party would appoint an interim chairman.

U.S. President-elect Donald Trump's multiple endorsements of Crypto leaders - the Winklevoss twins, Marc Andreessen and Ryan Selkis to name a few - are the result of the real estate mogul's numerous promises to support the expansion and further development of the digital asset industry in the United States.

Perhaps ONE of the most important promises Trump made to bring Crypto to his side was the following: “On ONE of these days, I will fire Gary Gensler.”

While he T can force Gensler to step down as SEC commissioner, he can nominate a new interim SEC chairman as soon as he takes office on January 20. He can also nominate a new commissioner to the Senate, which must approve her nomination.

Given that Republicans regained control of the Senate after redistributing several seats in Tuesday's presidential election, Trump's nomination has a good chance of passing a vote, and a new chairman could take office within months.

For example, Gensler was nominated by current President JOE Biden on Feb. 3, 2021, confirmed by the Senate on April 14 and sworn in on April 17.

Gensler has made many enemies in the Crypto sector because of his assertion that the agency already has enough rules and regulations for the industry, something Crypto leaders disagree with . ONE of the most fundamental differences is Gensler's assertion - ONE he shared with his predecessor, Trump appointee Jay Clayton - that most Cryptocurrency transactions on centralized exchanges violate federal securities laws.

With the exception of this year's launch of Bitcoin and ether spot market exchange-traded funds, which were approved by the current Securities and Exchange Commission (SEC) after years of negotiations and a legal victory for management company Grayscale, the financial regulator has T done nothing to help Crypto move in the right direction between what's legal and what's not, as it's still undetermined whether or not all cryptocurrencies are securities.

Gensler has been at the forefront of these actions, being openly skeptical of cryptocurrencies. As recently as last month, he reiterated that his views have T changed. Speaking at New York University School of Law in Manhattan in October, he said: “With all due respect, the leading luminaries of this field in 202[4] are now either in jail or awaiting extradition.”

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Cardano's path to $8: Analyst forecasts an initial 531% rise to $2.80 before a sharp 1,700% jump to $7.77+

Cardano has re-entered the global top ten cryptocurrencies, pushed by a market capitalization of $15 billion. This development follows a sharp price jump of 15% over the past 24 hours, as well as a remarkable 24.56% increase over the past week.

Currently trading at $0.4281, ADA recently touched $0.44, its highest level since July. Analysts suggest that this recovery marks the beginning of a potentially bullish phase, positioning Cardano for further gains.

Bullish momentum signals potential highs

Crypto analyst Javon Marks predicts that Cardano could be entering one of its most bullish phases. He identifies $2,7709 as the initial breakout target, marking a 531% rise from current levels. However, historical patterns suggest that the rally could extend further, with ADA potentially rising to $7.77, a 1,700% gain.

In his previous October analysis, Marks noted several bullish signals that suggest a continuation of the uptrend. He compared current market conditions to previous cycles when Cardano surpassed several price targets. According to Marks, a similar trajectory could lead to even more upside, potentially pushing ADA to $7.82, which would be a rise of more than 2030%.

In support of this optimistic outlook, popular analyst account Zayk Charts highlighted the recent breakout of a falling wedge in Cardano's price movement. This pattern is considered a bullish reversal, indicating the end of the bearish phase and the beginning of a potential rally.

Zayk Charts expects the ADA price to rise 60-70% from current levels, which could push the token above $0.60 if the rally gains momentum.

Increased activity in Cardano development

Cardano's growth is not only reflected in its price, but also in its development activity. Recent data from Santiment, a blockchain analytics platform, places Cardano as the fourth most active blockchain in terms of development activity, behind only Internet Computer, Chainlink and Hedera.

Santiment also noted the potential for FOMO (fear of missing out on something) for retailers to fuel further price growth. With Cardano up more than 25% over the past three days, retail traders may soon enter the market, further increasing demand.

Historically, such periods of heightened interest often lead to increased price volatility as more participants enter the market.

In addition, Santiment has seen a surge in whale activity on the Cardano network. In a single day, 697 transactions worth more than $100,000 were recorded, the highest level of whale activity since Sept. 4.

The number of daily active addresses (DAAs) on the network also rose to 37,892, further evidence of the growing interest in Cardano.

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IBIT outperformed the IAU gold ETF

A significant moment in the financial industry has occurred: the iShares Bitcoin ETF (IBIT) has surpassed the iShares Gold ETF (IAU) in terms of total assets. The latter has long been considered a stable investment and a kind of “haven” for investors. According to the data, IBIT by November 7, 2024 has accumulated assets worth $33.17 billion, while IAU, launched in January 2005, has $32.96 billion. The record figure was achieved in just 10 months since the launch of BlackRock's product.

The growing popularity of bitcoin ETFs is explained by the high interest in cryptocurrencies on the part of institutional and private investors. The transfer of assets to the IBIT fund was made possible amid increased recognition of BTC as a potential asset for portfolio diversification. In an environment of economic instability and high inflation, virtual currencies are increasingly seen as a possible alternative to gold.

These figures also reflect a significant shift in investment preferences, where traditional precious metals are beginning to yield to digital assets. As the IAU fund has been in operation for almost 2 decades, the IBIT result achieved in such a short period of time emphasizes the growing interest in crypto assets. This demonstrates how quickly BTC is strengthening its position in financial markets that have long been focused on traditional assets.

The record increase in IBIT assets may stimulate further development of cryptocurrency funds and attract new investors who previously preferred more conservative instruments. With the ongoing inflation and economic uncertainty, interest in digital assets is likely to grow. Experts emphasize that the success of the bitcoin-ETF is a landmark event indicating a shift in the investment paradigm.

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El Salvador's authorities did not miscalculate BTC

El Salvador, the world's first state-owned bitcoin (BTC) hodler, is now seeing the fruits of a bold investment strategy proposed by the country's leadership. Recall that on November 18, 2022, when bitcoin cost only $16,700, President Nayib Bukele announced plans to buy 1 BTC every day. In 2 years, the country managed to accumulate 722 digital coins with an average price below $42,000. Now the authorities' total portfolio is valued at $450.23 million, and the profit since the given is an impressive $24.54 million, which is equivalent to 81% growth.

Getting the timing right was an important factor. At the time of the announcement of this decision, bitcoin was at a historic low for several years. A stable buying strategy helped diversify and mitigate risks, as the BTC price was showing volatile fluctuations. It is worth noting that this is not the first investment by the authorities of El Salvador. They actively started buying up digital coins in September 2021, when the exchange rate of the flagship cryptocurrency exceeded $50,000

As the bitcoin exchange rate rose and approached the $76,000 mark, El Salvador's portfolio is becoming an example of how smart investing can yield long-term results. However, critics have previously warned that investing in the cryptocurrency could expose the country's budget to significant financial risks, especially if the market fails to meet expectations.

Interestingly, BTC's positive momentum strengthens President Bukele's position and could serve as an example for other countries. Supporters of digital assets see El Salvador's success as a confirmation of cryptocurrency's sustainability as a store of value. Nevertheless, the volatility of the market is a reminder of the possible problems that could arise with a new drop in prices.

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10x Research noted global changes in the marketplace

According to the researchers of the analytical company 10x Research, led by expert Markus Thielen, the cryptocurrency market shows signs of continuing the upward trend. Analysts emphasize the importance of a competent choice of digital assets. In their opinion, the last week was a vivid example of how quickly investor sentiment can change. Specialists singled out several key “winners” among altcoins: pairs with Solana tokens, including JTO-USDT and JUP-USDT, for 7 days showed growth of 24% and 16% respectively, remaining on par with SOL-USDT.

Ethereum cryptocurrency also surprised with a 17% increase in quotations, however ENA, paired with USDT, significantly outperformed its competitors, showing a 37% rate increase. Experts note that this emphasizes the need to focus on assets with strong fundamentals and avoid coins and tokens that failed to show an increase of 10% this week.

Supporting such cryptocurrencies requires consideration of technical factors and capital flow. For example, a successful strategy suggested by experts included a long position on JTO with a 24% gain against a short position on TON, which added just 1.6%, would provide a paired trade return of 22%.

"Intense speculation is unevenly distributing gains across the market. This is a signal that the buy-it-all approach is losing relevance and selecting the best assets is coming to the forefront. Maintaining data awareness and studying new trends will help identify the potential for further gains,” experts said.

Investors continue to follow cryptocurrencies with high dynamics. The fact is that today's growth may turn out to be just the beginning of a new phase of the bull cycle. That said, clear catalysts are still needed to sustain the current momentum and bring additional profits.

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Experts have noted the rise of stablecoins on the Aptos network

The Aptos blockchain continues to gain momentum, especially after a recent event: Tether launched its USDT stablecoin on the platform, making direct deposits much easier for users of the blockchain. According to researchers at TK Research, this could play a key role in the dailty development of the project and the decentralized finance (DeFI) sector within the network.

The researchers noted that since the addition of USDT, the total supply of stablecoins on Aptos has grown by 15.2% in the last week alone and by 9.4% in the last month, exceeding $800 million. This underscores the blockchain's growing appeal to users working with stablecoins.

USDC currently accounts for 51.4% of the network, while USDT and USDT (native) hold 37.2% and 3.7% respectively. The researchers also noted the presence of USDY (3%), MOD (2.7%) and USDCET (2%), which round out the list. Notably, most of the stablecoins are concentrated in leading lending and borrowing protocols such as Aries Markets (49.7%) and Echelon Market (14.2%). At the same time, Meso Finance accounts for only 9.2% of the total share

These figures show the rapid growth of interest in Aptos and the successful strategy of stackablecoin integration. Activity on the platform is expanding: Superposition Finance, Joule Finance and Aptin Labs are also showing steady asset growth, which strengthens the ecosystem. For example, Superposition increased its blocked asset amounts (TVL) by 16% in 7 days, Joule Finance by 11.7%, and Aptin Finance by 5%.

Overall, Aptos is laying the groundwork for a vibrant and sustainable stablecoin ecosystem by incentivizing the flow of new users and capital into blockchain protocols. If the trend continues, this could lead to further growth and diversification of network usage, strengthening Aptos' position in the DeFi market.

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Whales are incentivizing the NFT's return to the BNB network

NFT trading volume on the BNB network increased 283% quarter-on-quarter in the third quarter, driven by whales, as the average daily number of buyers fell by more than 50%, according to Messari.

Trading volumes of non-replaceable tokens on the BNB network rebounded in the third quarter, rising 283% to $600,400 (on average) per day, according to analyst firm Messari.

According to AJC, Messari's research manager, average daily sales also increased 47% quarter-on-quarter to 8,900.

“However, the average number of daily buyers declined 53% quarter-on-quarter to 2,300, indicating that NFT activity in the third quarter was driven by ‘whales’ rather than small users,” the Nov. 7 report said.

CryptoSlam data shows that the NFT BNB Chain's $55.2 million trading volume (calculated by multiplying the average daily volume by the number of days in the third quarter) still pales in comparison to the Ethereum and Bitcoin networks, which had trading volumes of $120.7 million and $74.6 million in the last 30 days alone.

Solana, Mythos Chain, Polygon and Immutable also saw higher trading volume than BNB Chain over the same time period.

Other indicators characterizing BNB Chain's performance were mixed.

BNB Chain's revenue fell 27.9% quarter-over-quarter to $34.9 million, mainly due to a 27% decline in gas commissions paid on decentralized finance transactions.

BNB Chain's average daily active address also fell 19% to 900,000 as average daily transactions fell 8.1%.

However, the total value locked on the BNB Blockchain increased 2.2% to $4.8 billion in the third quarter, with algorithmic money market protocol Venus Finance contributing the most to that growth, up 13% to $1.79 billion.

More tokens were burned than minted in the third quarter, leading to a 4.5% deflation rate and contributing to a 2.5% price increase as the broader market regressed slightly, CoinGecko data shows.

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Former PRC civil servant given life sentence

In China, a former civil servant surnamed Wang has been sentenced to life imprisonment for espionage. Previously a successful employee of a secretive institution, he was recruited by foreign intelligence after his indebtedness due to investments in cryptocurrency led to serious financial difficulties. Before the specialist was exposed, he passed classified data to foreign agents, receiving more than 1 million yuan (CNY) in cryptocurrency for doing so.

Wang posted a message on a forum looking for a part-time job, indicating that he was a government employee, which caught the attention of foreign intelligence. He was recruited by offering money for information about his institution's activities. Initially, fearing exposure, he agreed to pass on limited information, but then succumbed to temptation and continued his activities, sending increasingly important documents.

The investigation revealed serious deficiencies in the security management of the institution where Wang worked. Documents were not properly logged and one was found at his workplace. These security lapses allowed Wang to discreetly obtain and transmit classified information, with serious consequences.

This case highlights the vulnerability of secret agencies to foreign intelligence agencies that actively recruit government employees. They usually offer large sums of money, blackmail and pressure targets into using them as long-term “informants.” In Wang's case, he tried to cut off contact with the agents but was forced to continue cooperating under the threat of exposure. China's National Security Service has called on all state agencies in the country to strengthen security measures to prevent such incidents.

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Ripple (XRP) fails to break above $0.55

On the back of Donald Trump's victory in the US presidential election, the crypto market shook up a new wave of growth. However, Ripple (XRP) is having trouble sustaining the rally. The altcoin can't break above the important resistance at $0.55

Let's understand what is happening with Ripple and what factors can support the growth of XRP.

XRP is giving sell signals

The DAA indicator, which tracks the number of daily active addresses in the cryptocurrency network, is now giving bearish signals. It indicates that demand for Ripple is weakening as fewer traders are interacting with the asset.

If the market takes this as a sell signal, XRP's recent growth will be jeopardized. The potential sell-off will make it harder for the altcoin to overcome the key resistance at $0.55.

Meanwhile, the correlation between Ripple and BTC is on the rise. The altcoin has also started to show growth on the back of bitcoin updating new ATHs two days in a row. This correlation supports the token's upward movement.

However, XRP's dependence on bitcoin at the same time makes it vulnerable. If bitcoin's growth rate slows down, XRP's rally also risks stumbling.

XRP forecast: waiting for a breakthrough

At the time of writing this analysis, XRP is trading at $0.5491, having shown no expressive dynamics over the last 24 hours. Earlier in the moment, the altcoin showed a 10% daily gain, but has since corrected.

The $0.55 mark on the cryptocurrency's chart coincides with the 50% Fibonacci retracement level. This level is a key resistance for Ripple; a break above it would mean reaching a one-month high. Also, a successful breakout may attract new buyers and revive bullish sentiment around the asset.

In the current situation, it will not be easy for Ripple to break above $0.55. In this case, the token is likely to continue trading in the current range. Consolidation may last until investors see clearer market signals.

XRP will be able to continue growing if it successfully breaks the $0.55 barrier. Then the cryptocurrency will go further and get a chance to test the $0.59 mark, which coincides with the 61.8% Fibo line. A breakout of this level will confirm a strong bullish outlook and set the stage for a further rally.

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Solana exchange rate tested the $200 level after Trump's victory

On the night of November 8, Solana quotes reached the $200 mark, which was last seen in April 2024.

The historical high near $260 dates back to November 2021.

Over the past 24 hours, the asset has grown in value by 6.9%, second only to Cardano (+19.2%) among the top 10 cryptocurrencies.

Presto Research analyst Min Jung spoke to The Block and attributed Solana's success to high meme-coin activity supporting “the broader Solana ecosystem, including decentralized exchanges like Raydium.”

According to DeFi Llama, trading volume on DEX last month totaled over $30 billion.

The expert also noted the strengthening of blockchain onchain metrics in general.

In October, the number of active addresses for the month on the Solana network reached a record 123.01 million, up 42% from September.

"There is an element of hope that is pushing the price of cryptocurrency upwards, including a possible endorsement of theETF, however the timing is still too far off. Rather, it is the impact of expectations of favorable policies for digital assets, especially in names like Solana, where there is a strong community of holders, ” the expert pointed out.

Earlier, the co-founder of Syncracy Capital Daniel Cheung predicted the launch of SOL-ETF already in the first quarter of 2025 after the victory of Donald Trump in the US presidential election.

Recall, techanalyst Peter Brandt saw the potential for a 27-fold growth of Solana - up to $4500.

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CEX recorded record inflows of stablecoins

Cryptocurrency exchanges Binance, Coinbase and other trading platforms noted record inflows of stablecoins of the ERC-20 standard of the Ethereum network after the announcement of the results of the U.S. presidential election. In total, the volume of deposits amounted to $9.3 billion, which was the 2nd largest inflow in history. Thus Binance received $4.3 billion, and Coinbase - $3.4 billion, the rest was distributed among other large centralized platforms.

Analysts attribute such massive infusions to potential uptrends. Previously, between September 2020 and February 2021, large inflows were accompanied by significant price rallies. If the current inflows trigger a similar reaction, the market could enter a new growth phase.

The arrival of large volumes of stable coins is often perceived as a preparation for cryptocurrency purchases. Such actions strengthen market participants' expectations about upcoming price movements. In conditions of growing liquidity, the behavior of institutional investors, for whom stability and risk minimization are important, also attracts attention.

Taking into account the previous data, CryptoQuant experts do not rule out a potential growth in the capitalization of the global cryptocurrency market. However, uncertainties remain: macroeconomic factors and possible regulatory changes may affect the development of events. Trading participants are closely watching the actions of major players, as their decisions may predetermine the movement of quotes in the coming months.

While enthusiasts are waiting for the next bullish trend, skeptics remind about the risks of overheating. All eyes are now on the rate dynamics of the leading cryptocurrencies, as well as on how exchanges will cope with this massive influx.

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The UK Lords have expressed support for the Digital Asset Ownership Bill

-- Members of the House of Lords have expressed support for the Digital Asset Ownership Bill introduced by the Law Commission.
-- The bill will help resolve legal disputes, Crypto .
-- The Lords also called on the new Labor government to bring more clarity to the issue of Crypto .

Members of Britain's upper house of parliament on Wednesday gave their second reading support to the Digital Asset Ownership Bill.

The Greater House of Lords committee generally believed the bill would bring more clarity to how the legal system will treat Crypto , and could be another step forward for the country that paves the way for Crypto use in the country.

The UK introduced the bill in September. It was drafted by the Law Commission, an independent statutory body. The bill adds a new category of “thing” to the categories that fall under property to help resolve legal disputes, Crypto .

“This supports our efforts to ensure that our jurisdiction remains at the forefront of the world by providing a flexible legal framework that can respond to the dynamic nature of digital assets and other new technologies,” said Lord Frederick Ponsonby of Shulbreda.

According to Ponsonby, the bill will not only help judges in criminal proceedings when their Crypto has been stolen through fraud or hacking, but will also help in the division of marital property.

“The bill is brief in nature but could have an extremely important impact,” said Lord Chris Holmes of Richmond.

John Thomas, also known as Baron Thomas of Coomgidd, agreed that the Law Commission Bill represented a “critical change” and called for it to be made internationally competitive, which Ponsonby believes is the case.

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Plume Network is successfully developing in the RWA sector

Plume Network and StakeStone have joined forces on a new Pre-Deposit Vault campaign that is already showing impressive demand among members of the cryptocurrency community. The initial limit was set at $5 million, however, this amount was exceeded 6 times in just 90 minutes, forcing the organizers to expand the limit to $30 million.

This campaign attracted attention due to its unique reward system that combines the advantages of traditional finance and tokenized assets (RWAfi). Its essence is that all participants can earn StakeStone and Plume points, which reinforces interest in the new sector.

Such a rapid growth in scores indicates a strong demand for innovative financial technology solutions. The popularity of the real tokenized assets industry continues to grow, and successful campaigns like this one point to possible directions for further market development.

The organizers thanked all participants for their support and promised to introduce new initiatives soon to meet the high interest of the community. Given such a strong response, Plume Network plans to develop projects that can bring new opportunities and benefits to the RWAfi space.

The speed and scale of startup investments show that tokenization of real assets is becoming a key topic in the world of decentralized finance. Investors continue to seek effective tools for wealth management, and initiatives like this confirm that the RWAfi sector is on the rise, providing participants with more opportunities for asset diversification.

As of November 7, the RWA industry is capitalized at $5.24 billion, up 7.5% from a day ago and up 10.44% from a week ago.

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Cryptocurrency exchange HTX has announced plans for token and community support

HTX cryptocurrency exchange spokeswoman Liu Ye revealed plans to support the growth of the HTX exchange token and community development.

According to her, the integration of HTX Earn and PrimePool investment products and the introduction of a burn mechanism will ensure long-term growth and maintenance of the coin's exchange rate.

Last month, HTX DAO announced the transition from a liquidity provision model to a token burn mechanism. The HTX token will become increasingly scarce in the market, which is bound to increase the value of the asset. Reducing supply will make the token more in demand for investors, Liu Ye noted.

She emphasized that the exchange team is going to merge Earn and PrimePool, which will allow token holders to get rewards in two products at the same time. This mechanism will be implemented by the end of the year, thanks to it the efficiency of capital utilization will increase and the process of asset management will become simpler.

In addition, the spokesperson suggests that the integration with PrimePool will increase the involvement of HTX customers in token mining of new projects. In addition, the platform will reduce the token interest rate in investment products with flexible returns to attract additional capital to the platform.

The implementation of the above initiatives will not only increase the demand for HTX DAO token, but also strengthen its market position as a long-term investment tool, Liu Ye is confident.

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Startup Cytonic has raised an investment of $8.3 mln

A Level 1 blockchain startup called Cytonic, aims to combine various Web3 technologies in an open ecosystem. According to the latest data from analysts at CryptoRank, the company has successfully completed a seed round of funding, raising $8.3 million, with Lemniscap and Lattice as lead investors. Key organizations in the sector including IOBC Capital, Nomura and Lyrik Ventures also participated. Angel investors include Arthur Hayes, a well-known cryptocurrency entrepreneur and founder of the BitMEX exchange.

The attraction of large investors emphasizes Cytonic's potential to create an innovative infrastructure for Web3. Experts note that the platform has the potential to become an important part of the new digital landscape, thanks to the support of both financial giants and crypto funds.

Cytonic plans to use the funds received to accelerate the development of its architecture and expand functionality to attract more developers and users. The attention to the project also underscores the increased investor interest in promising startups offering solutions for blockchain scalability and security.

The very idea of creating a single, interoperable Web3 infrastructure is catching the community's attention, especially amid the rise of decentralized applications. Investors are betting that Cytonic will be able to offer just the right platform that will become an important pillar for future decentralized projects.

The success of the fundraising demonstrates the sustained interest in blockchain innovation and the increasing willingness of influential financial firms to participate in the development of Web3 technologies. Cytonic aims to capitalize on these opportunities and strengthen its position in the market.

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Shiba Inu reached a one-month high

The Shiba Inu (SHIB) has been showing promising growth recently, thus attracting the attention of investors and traders alike. After hitting a significant 30-day high, SHIB began to rally, prompting many to speculate about its potential to reach new heights - perhaps even an all-time high (ATH).

As buying volume has grown, so has confidence in SHIB's future. Some people are beginning to believe that this could be the beginning of something more significant; however, there is still a major hurdle to overcome: the resistance level at $0.00001900.

Shiba Inu: breaking through resistance

SHIB must break above this resistance zone to maintain upward momentum. In the past, it has served as a barrier that has kept SHIB from rising. If SHIB manages to break through, there is a lot of hope for higher levels, and this could give hope to investors who expect SHIB to test its all-time high again.

However, a significant breakout of this level would reinforce bullish sentiment. Conversely, if SHIB fails to overcome this hurdle, it could pull back to support levels that are around the 50-day moving average, where it could consolidate and gain strength for another attempt.

More favorable market conditions?

The timing for this likely breakout also looks pretty good in the context of much larger and more favorable market conditions. Political uncertainty has reduced significantly since the US election, and investors seem willing to take risks again. This has led to “de-risking” and the asset is a beneficiary.

Overall, the cryptocurrency market is trending towards recovery and this is good for SHIB in the long term. This will be especially true if short-term fluctuations continue to favor SHIB.

The next 7-10 days will be crucial to whether SHIB can maintain this trend.

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