Why analysts predict cryptocurrencies will have a market capitalization of $3 trillion by the end of the year

The cryptocurrency market is gaining momentum again to send positive signals to traders and analysts. It believes that the market capitalization will reach $3 trillion by the end of the year.

Examining recent market trends, it appears that the coming months could see a similar upswing as February, with a growing number of “buy” macro signals and major technical indicators pointing upwards. This potential rally could put the market on a massive growth path as more people interact with cryptocurrencies.

February's momentum signals upside potential

In terms of any repetition in the cryptocurrency market, there was a very strong movement in February this year that some experts believe could repeat itself. The chart used by the indicator commonly known as SuperTrend has risen to the buying side from a sideways level signaling an uptrend.

Cryptocurrency - I think we could reach a market capitalization of $3 trillion by the end of the year. Looking for support like we did in February

The same chart shows that the market just broke a long-term resistance level, which may indicate that further movement will be more significant than immediate gains. If this trend continues, some analysts suggest that the market could repeat February's gains and approach the $3 trillion mark by the end of the year.

Key indicators are showing bullish momentum

The following factors are behind this positive outlook for the cryptocurrency market. Impulsive buying on SuperTrend and the market's underlying ability to overcome higher resistance levels are giving the bulls fuel. For example, the rise above $2.5 trillion helped the market gain ground on the next level of growth.

Other factors affecting the market as a whole also contribute to the likelihood of growth. The emergence of new institutional players, technological advancements and the recent trend of digital assets contribute to the favorable outlook.

All the regulatory news and macroeconomic events can influence this possible growth. At the same time, the cryptocurrency market could enter the growth stage and reach the $3 trillion goal by the end of the year if we continue to observe the current trends.

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Bitcoin's rise has strengthened Solana to fourth place in the overall rankings

Cryptocurrency Solana has reached a market capitalization of $95.6 billion, continuing to remain in the fourth position of the overall cryptocurrency ranking by this indicator (data from CoinGecko).

On November 10, SOL posted a daily gain of 1%, maintaining weekly gains above 30%. Over the past month, Solana has added an impressive 37%.

On Nov. 10, Solana was valued at $200.

SOL is up more than 105% since the beginning of the year, and is up about 300% over the past 12 months. SOL's trading volume in the previous 24 hours totaled $7.16 billion, placing it as the seventh most traded crypto asset over the past weekend.

Solana's top trading pairs for Sunday included SOL with USDT, FDUSD, USD, KRW and BTC. The US dollar accounted for 11.02% of Solana's trading activity, while the South Korean won accounted for 5.65%.

Solana has about 9,154,449 owners worldwide, and the top 10 wallets hold 6.58% of the total supply. Meanwhile, the top 50 wallets control 17.52% and the top 100 wallets collectively own 22.76% of SOL's circulating supply.

Bitcoin price dynamics strengthens Solana's position in the crypto market and contributes to the continued growth of the native token.

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Etherium developers launch Mekong test network

The Ethereum Foundation has launched the Mekong testnet, where wallet developers can experiment with future updates in preparation for the upcoming Prague-Electra (Pectra) fork.

Ethereum Foundation's head of protocol support Tim Beiko said that the testnet is named after the Mekong River, which runs in the Southeast Asian countries of Thailand, Cambodia and Vietnam. Mekong is designed to help wallet developers evaluate the user experience (UX) of features and familiarize themselves with upcoming modifications for Pectra. Developers are then required to provide feedback to the organization.

The Mekong test network will include minor modifications to the Efirium Improvement Proposals (EIPs) regarding UX, improved staking functionality, and deposit and exit mechanisms. The features that will be tested by developers will not affect the core Efirium network and its other testnet like Holesky or Sepolia, the developers clarified. However, Mekong testing will affect the rollout of the Pectra update to other Efirium-related networks.

“Mekong is a kind of playground for wallet developers. They can experiment with UX changes, and stakers can try out upcoming changes. The test network will be short-lived, but fully staffed with all EIPs designed for Pectra,” the Ethereum Foundation said in an announcement.

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US election triggers surge in high-risk cryptocurrency lending

The volume of outstanding high-risk loans at DeFi has surpassed $5 million, recovering after Curve founder Mikhail Egorov threatened to completely liquidate Curve founder Mikhail Egorov's position for more than $100 million.

The last time such high values were seen was in July 2022.
The Benqi platform alone has issued more than $115 million in loans, of which $5 million are classified as “high risk.”

The catalyst was a rally in the cryptocurrency market on the back of the US election-induced optimism.

High-risk loans are loans that are backed by volatile assets that are within 5% of the liquidation threshold. Traders use them to capitalize on potential price fluctuations.

Evaa Protocol co-founder Alexander Sudeikin spoke to Cointelegraph and said that the mass liquidation of high-risk loans has the potential to impact the broader cryptocurrency market.

"However, I don't think the impact of a worst-case scenario could be that significant. DeFi has matured a lot in recent years, especially among large protocols that have implemented better risk management practices. Increased resilience can mitigate the effects of any sharp downturns, “ the expert elaborated.

Sudeikin cited the example of the protocol he developed, which introduced restrictions on the maximum amount of assets, created isolated pools and a number of other measures.

Recall, in November Coinbase launched “wrapped” bitcoin in the Solana network - cbBTC.

In September, the exchange introduced its own version of digital gold in the form of a token of the ERC-20 standard.

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North Korean hackers switch to phishing attacks

North Korean hackers have chosen a new tactic to continue their cyber war with the rest of the world. They are now attacking cryptocurrency companies with phishing emails

Analysts from SentinelLabs have discovered that a hacker group from North Korea has changed its approach to cyberattacks. Experts attribute this shift to BlueNoroff, a subgroup within Lazarus.

Lazarus is in the scam business

The BlueNoroff subgroup is predominantly known for conducting large-scale cyberattacks to fund North Korea's nuclear and military programs. In a new campaign called “Hidden Risk,” or “Hidden Threat,” they have shifted from using social media to a more direct method - hacking through emails.

BlueNoroff hackers are actively sending out phishing emails targeting specific individuals. Often these emails are disguised as news about bitcoin prices or updates on trends in decentralized finance (DeFi).

The topics seem interesting and the links seem safe. However, after clicking on them, malicious applications are downloaded to users' devices. In this way, attackers gain direct access to sensitive corporate data.

PDF of the phishing email from BlueNoroff hackers. Source: SentinelLabs

“In a campaign we have dubbed ‘Hidden Threat,’ hackers spread fake news about trends in the cryptocurrency world to infect users with malware disguised as a PDF file,” the report said.

According to analysts, the malware developed by BlueNoroff hackers is highly sophisticated. It bypasses even Apple's built-in security protocols. Therefore, experts recommend users and organizations working with macOS and digital assets to strengthen their security measures.

DL News recently conducted an investigation that uncovered another new Lazarus fraud scheme. Attackers are creating fake resumes that are virtually indistinguishable from real ones and actively sending them out to cryptocurrency companies.

Some undercover employees earn up to $60,000 per month. Those whose salaries are higher than this amount keep only 30% of their paychecks. The rest of the money hackers have to hand over to the state, the journalists found out.

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Toncoin: onchain metrics keep TON price away from the $7 mark

This week, many of the top 20 altcoins posted double-digit growth, but some, including TON, were the exception. This is due to several key Toncoin metrics

Let's break down how onchain indicators are affecting TON's current weak performance and what this could mean for Toncoin's future momentum.

Whales still don't believe in TON

One of the main drivers of Toncoin's price sag below $5 is Whale's net equity flows. This metric reflects the activity of addresses that hold between 0.1% and 1% of the total circulating token volume. A positive value of the metric shows that large investors have accumulated more tokens than they have sold. A negative value, on the other hand, says that sales exceeded purchases.

According to IntoTheBlock, net flow in the Whale segment has declined 117% over the past seven days. This means that Whale sold tokens, putting pressure on the price.

If this trend continues, TON's price could deepen the decline. In addition, other Toncoin indicators point to a decline in confidence among short-term hodlers.

For example, the “Addresses by Time of Hold” metric shows that many investors who bought TON in the past 30 days chose to sell tokens rather than hold them. Such sales also put pressure on token value.

If Toncoin fails to attract new short-term users, the prospects of a recovery to $7 may not materialize.

The rally to $7 is postponed for now

On the daily chart, the asset continues to trade within a descending triangle. This contrasts with other altcoins that have recently made bullish breakouts.

A descending triangle is a bearish technical pattern formed by the descending upper and horizontal lower trend lines. It indicates increasing selling pressure. If the price fails to break the upper boundary of the pattern, it may continue to fall.

As you can see below, Toncoin attempted such a breakout. However, the rebound from $4.95 showed that the effort was futile and brought the token back to $4.84. If the bears continue to neutralize the bulls' attempts, the price risks falling to $4.45.

However, if the metrics described above return to the bullish zone, the trend could change. In this case, TON will get a chance to grow up to $7.27.

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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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There is a significant accumulation of $3.3 million dollars worth of ETH in Arthur Hayes' wallet

A wallet associated with Arthur Hayes, a well-known figure in the cryptocurrency industry, recently gained a notable amount of Ethereum (ETH). In a series of transactions, the wallet acquired a total of 1,072 ETH worth about $3.31 million dollars.

This sudden increase in assets was the first significant addition to this wallet in the past three months, prompting speculation about Hayes' potential strategies or renewed interest in Ethereum.

Details of recent transactions

According to blockchain transaction data, there have been three large transfers to Hayes' wallet from Wintermute, a well-known cryptocurrency trading company. The latest transaction, made about seven hours ago, added 540.7 ETH to the wallet, which is valued at about $1.69 million. Earlier, about 20 hours ago, two more transactions were made, adding 266.7 ETH and 264.3 ETH, valued at about $814,620 and $807,180, respectively. All of these transactions were completed in a short period of time, bringing the total amount to over a thousand ETH in a single day.

According to Lookonchain, the last major transaction in this wallet was about three months ago when it received small ETH deposits from Binance hot wallets. At that time, the wallet had 100 ETH and 109 ETH transferred in separate transactions, totaling about $541,000. The previous transaction was much more conservative, suggesting that the latest accumulation may reflect a change in strategy or a reaction to market conditions.

Arthur Hayes' renewed interest in accumulating ETH may indicate bullish sentiment in the Ethereum market. Given Hayes' influence in the crypto community, his actions could affect market dynamics and investor sentiment towards ETH, especially since his wallet has remained relatively inactive in recent months.

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JPMorgan Bank has rebranded its blockchain platform Onyx

One of the largest US banks JPMorgan has changed the brand name of its blockchain-based platform for asset tokenization Onyx. The reason: to prepare for the launch of a “new payment infrastructure”. The platform will now be called Kinexys.

JPMorgan executives explained that the blockchain platform's user base has grown significantly, with payment transactions increasing by 1000% over the year. According to the bank, since the inception of JPMorgan's blockchain platform, it has processed transactions totaling more than $1.5 trillion, including intraday repos and international payments. On average, the platform has processed more than $2 billion in payments per day.

The blockchain platform launched by the bank was previously called JPM Coin and later renamed Onyx. International companies Siemens, BlackRock, and Ant International have become clients of the platform. Given the demand for tokenization of assets among large banks and financial companies, JPMorgan decided to rebrand the platform.

The name Kinexys comes from the word “kinetic,” the bank explained. The term refers to the movement of money, assets and financial data around the world. The Kinexys team will have to increase privacy on the blockchain and improve data identification, the bankers assured. Kinexys is going to provide access to circulating capital and reduce transaction costs for traders, JPMorgan promised.

JPMorgan Chase CEO Jamie Dimon has repeatedly stated that he does not support cryptocurrencies, calling bitcoin a pyramid scheme. At the same time, Dimon praised the potential of decentralized finance (DeFi) and blockchain, which allows banks to exchange complex information.

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A new fake Curve FInance app has appeared on the App Store

Indian cybersecurity company Frautect reported that attackers have posted a fake Curve Finance program in Apple's mobile app store.

According to Frautect, this has already caused irreparable losses to unsophisticated crypto investors who downloaded the program to their devices.

“Disguised as a legitimate token exchange and liquidity-stacking tool, the fake Curve Finance app has caused multiple reports of financial losses and security issues,” Frautect said.

Frautect said Curve Finance users have reported missing crypto shipments, unauthorized withdrawals from accounts, and a complete lack of customer support services. The extent of the damage caused is being specified.

Earlier, the Curve Finance decentralized finance platform team paid a $250000 reward for identifying a vulnerability that could be used to manipulate balances and withdraw funds from liquidity pools.

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Almost 89% of Polymarket users incur losses due to bets

Almost 89% of users of the popular forecasting platform Polymarket on the Polygon blockchain lose money. Of course, the ratio of winners to losers can vary depending on the purpose of the bet, but it's still about the same.

For example, according to Dune Analytics, 14.3% of Polymarket users made a profit after the results of the U.S. presidential election were announced. About 85.7% of players suffered losses.

Betting on US presidential candidates showed that the highest number of bets on Polymarket were made from wallets holding less than $100. However, large players with $50,000 or more in digital assets led the way in terms of contributions.

Analysts estimated that between 1 and 5 bets were made from more than 100,000 wallets, while users made 20-50 bets from 95,000 wallets.

The US presidential election made Polymarket the leading crypto prediction platform in terms of trading volume. During the election, the platform processed more than 371 million trades, but the next day that figure plummeted to just 37 million.

To restore the high trading volume, Polymarket is already accepting bets on expectations related to Donald Trump's presidency: his policy decisions, actions, cabinet allocations, and more.

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About 87% of tokens on Binance will become cheaper in 2024

Cryptocurrency exchange Binance, long known for the fact that listings on the platform have positively impacted coin and token values, is facing a change in market dynamics in 2024. New data from 0xScope shows that 87% of crypto assets added to Binance are now priced below the price on Day 1 of trading. Competition from other platforms such as OKX, Bybit and Upbit has had a noticeable impact on the performance of listings.

OKX, which has become the 2nd largest exchange in terms of trading volume, is performing better despite a similar number of new tokens to Binance. According to the data, about 35% of digital assets added in 2024 are above the initial price, while Binance is facing difficulties. This trend may be due to the fact that some tokens launched on Binance have already seen rapid growth on other platforms before being listed on the world's largest trading platform.

Bybit, which has opted for an aggressive strategy of adding many new tokens, is balancing high returns with risks. It has had more listings this year than all its competitors combined - 166 on the spot market and 144 on the futures market. While some of the assets have brought investors more than 100% returns, more than 60 digital currencies have fallen 75% of their initial value, creating risks.

Such data confirms that cryptocurrency listings are becoming less and less predictable, and their success depends not only on the reputation of the exchange, but also on a host of other market factors. Binance, OKX and Bybit are all striving to take a leading position in the market, but each is taking different approaches, affecting token dynamics and investor attitudes. These changes emphasize the need for users to be more careful about token selection.

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GOAT pulled back from an all-time high

Goatseus Maximus (GOAT) hit an all-time high of $0.89on Thursday. However, active selling soon began and the price of the memcoin fell to $0.82 at the time of writing, pulling back 6% from the peak

Key technical indicators are warning that the market is overheated and the GOAT price could continue to fall. Here's what to watch out for.

GOAT market is heating up

The widening of the Bollinger Bands on the 4-hour chart indicates an increase in volatility. Bollinger bands are a technical indicator that consists of three lines around the price of an asset: a simple moving average in the middle and two bands that represent the standard deviations above and below that average. An increase in the gap between these bands indicates an increase in volatility and the possibility of sharp price changes.

At this point, an increase in the distance between the upper and lower bands warns of possible large price swings. At the same time GOAT can make a breakout in any direction.

The growth of the price has thrown it to the upper boundary of the indicator. When the asset approaches this line, the market is overheating, which can lead to an imminent overbought and correction.

The Relative Strength Index (RSI) confirms the overheated state of the market. At the time of writing, it has reached 70.68. Values above 70 indicate overbought, which portends a possible correction, while values below 30 indicate oversold, which may indicate a recovery is imminent.

The decline may deepen

The combination of high volatility and an overbought market suggests that the asset may continue to fall. As the Fibonacci retracement levels suggest, the price risks falling to $0.71. This is where significant support is located. If this level does not hold, GOAT will fall to $0.52.

On the other hand, if GOAT continues to rise, it could absorb the all-time high of $0.89 and go even higher. This would cancel the pessimistic forecast suggested above.

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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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