Donald Trump is considering three pro-cryptocurrency candidates to replace Gary Gensler

Donald Trump and his transition team have begun considering candidates for key financial regulatory positions who favor a less rigid stance on digital assets.

Hester Pierce, Mark Ueda, and Paul Atkins are among the candidates being considered for SEC Chairman Gary Gensler.

The SEC will look different under the New Trump Administration

According to The Washington Post, Trump's team is considering nominations from current regulators, former officials and financial industry leaders, many of whom have expressed strong support for cryptocurrencies.

These appointments are significant. The next chairman of the Securities and Exchange Commission and other regulators will determine the future role of cryptocurrencies in the U.S. financial system.

Former SEC Commissioner Daniel Gallagher has previously criticized the agency's tough stance on cryptocurrencies. He is also a current board member of Robinhood.

Pierce and Uyeda have also expressed their disapproval of the SEC's policies under President Biden. Pierce is seen as a potential interim SEC chairman with the possibility of leading a federal task force to regulate cryptocurrencies.

Trump's team is also considering Paul Atkins, a former SEC commissioner who advised Trump during his previous campaign, and Chris Giancarlo, former head of the Commodity Futures Trading Commission (CFTC). Both are known for their support of cryptocurrencies.

"The new regulatory regime will make it much easier for tokenizers to profit from their protocols. Banks will be able to engage with the crypto industry where they couldn't before - institutional custody rules could become much simpler,” wrote popular crypto researcher Ailo in a post on X (formerly Twitter).

Under Gensler, the SEC has investigated high-profile cases against Binance, Coinbase and Ripple, accusing them of violating securities laws. Those companies have denied the charges, which include operating without proper registration and fraudulent activity.

Trump had earlier promised to fire Gensler during a major bitcoin conference, signaling his intention to change the agency's direction on digital assets.

U.S. election ignites bull market

The optimism generated by Donald Trump's election victory and its impact on cryptocurrency regulation is very visible in the market. Just days after the election results were announced, the market is experiencing one of the biggest bull markets in recent years.

Bitcoin hit new highs four days in a row after the election. Today, BTC hit a new all-time high of $89,000.

Trump's victory made millions for several bettors on Polymarket. Three crypto whales earned $47 million on the platform after the Republican's victory.

Investments in bitcoin-ETFs also rose after the election. On Nov. 7, the day after the official election results were announced, the bitcoin-ETF saw a record $1.39 billion in inflows.

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Stobox integrates Chainlink CCIP and Proof of Reserve for secure inter-network transfers

Stobox, a blockchain-based tokenization platform, has integrated Chainlink's Cross Chainlink Interconnect Protocol (CCIP) and Proof of Reserve (PoR) on Ethereum. This integration extends the cross-network processing capabilities of STBU tokens for efficient and transparent asset tokenization. The integration of Chainlink's decentralized oracle also improves security, especially for cross-network transactions and collateral validation.

Stobox improves inter-network transfers with Chainlink's CCIP

CCP provides cross-network transfer of the STBU token from Stobox. Through the integration, users can conveniently transfer tokens between networks and increase the interoperability of the STBU token with other networks. This cross-network capability solves key challenges in the DeFi domain. Moreover, it creates new opportunities for participation in DeFi and raises the profile of STBU in decentralized finance (DeFi).

In addition to CCIP, Stobox has integrated Chainlink's Proof of Reserve (PoR) to offer real-time cryptographic verification of the collateralization of tokenized assets. This integration ensures that tokens are fully collateralized with assets held in reserve.

Chainlink's technology provides security

Chainlink's oracle technology is used in CCIP and PoR, which are additional tools in the improved structure of the Stobox ecosystem. Chainlink's decentralized system enhances privacy and reliability by providing accurate and immutable data across different blockchains. By leveraging these features, Chainlink Stobox becomes the standard for security and reliability in the tokenization market.

The integration of Chainlink's technology into Stobox demonstrates a commitment to transparency in the blockchain-based tokenization industry. It also aims to expand the use of Stobox solutions and support the growing industry trend towards more secure and diverse tokenized assets on the blockchain.

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FTX has filed a lawsuit against Binance and Changpeng Zhao

The bankrupt cryptocurrency exchange FTX filed a lawsuit against Binance and its former CEO Changpeng Zhao (CZ)

FTX demands that Binance and Zhao reimburse the collapsed trading platform $1.8 billion, Bloomberg writes.

The history of the transaction and allegations of fraud

The lawsuit alleges that in July 2021, Binance and its management, including Changpeng Zhao, struck a deal with FTX co-founder Sam Bankman-Fried. As part of the deal, representatives of the world's largest cryptocurrency exchange sold about 20% stake in FTX's international division and 18.4% in its U.S. division.

Bankman-Fried paid for the repurchase of shares. The amount amounted to $1.76 billion in FTX tokens (FTT), Binance Coin (BNB) and Binance USD (BUSD). However, according to the plaintiffs, FTX was already financially insolvent at that time. Therefore, the transfer of funds to Binance management can be considered a fraudulent transaction.

FTX representatives also accused CZ of intentionally undermining the crypto exchange's reputation on the eve of its collapse. In November 2022, Zhao posted a series of “false and misleading” tweets aimed at destroying a competitor's image.

One of these tweets was a post from November sixth, in which the ex-Binance CEO announced plans to sell all of FTT's tokens (worth about $529 million). This triggered a massive outflow of funds from FTX, the lawsuit says.

So far, Binance representatives have not commented on the situation.

Amid the news of the lawsuit, the price of the FTX token (FTT) rose by more than 20% in the moment. According to CoinGecko, at the time of writing, the asset is trading at $2.14, having risen by a total of 11.8% over the past day.

The news is supplemented by

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Binance exchange announced the listing of ACT and PNUT tokens

Cryptocurrency exchange Binance continues to expand its range of cryptocurrencies. The platform's press service announced the addition of 2 new tokens - Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). Trading for ACT/USDT and PNUT/USDT pairs opened on November 11, 2024 at 13:00 MSC, and withdrawals will be available the next day.

Both tokens run on the Solana blockchain and are meme cryptocurrencies that have recently caught the attention of users. However, they will be labeled Seed, which indicates the high risk and potential volatility of these assets. This means that they may be subject to significant fluctuations in value, and investors are advised to exercise caution and do their own research before trading.

Seed marking on Binance also involves going through a special quiz for customers to make them aware of the possible risks. Such events are held every 90 days and are aimed at informing traders about the specifics of such assets. This decision is especially important as ACT and PNUT have a high risk due to their recent appearance on the market and lack of liquidity.

In addition, Binance will support trading bots and copy-trading features for ACT and PNUT within 24 hours of their listing. This will give users additional flexibility and the ability to automate their trades, but also requires special attention to settings and risks associated with excessive volatility.

For meme tokens such as ACT and PNUT, the focus is not only on their entertainment value, but also on their possible speculative prospects. However, users should keep in mind that such cryptocurrencies often lack fundamental value and may represent only short-term investment instruments.

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Here's why Shiba Inu is rising with BTC and ETH: SHIB executive explains

Shiba Inu leader, Shitoshi Kusama, explains why the price of SHIB has skyrocketed along with other well-known cryptocurrencies such as bitcoin and etherium.

Shiba Inu (SHIB) has shown impressive growth over the past few days, pushing its price above $0.000027. This surge coincides with the strong gains registered by crypto assets such as bitcoin and etherium over the past week.

Shiba Inu, bitcoin and etherium are entering a massive rally

In particular, the world's largest cryptocurrency has surged, hitting new all-time highs (ATH) on a daily basis. The main asset's current ATH is $81,858, recorded in the early hours of today. At $81,170, bitcoin is up 29.53% over the past month, 17.82% over the past seven days and 2.88% over the past 24 hours.

Similarly, Ethereum rose above the $3200 price level, as predicted by Bitfinex experts, after a seven-day rise of 27.25%. Interestingly, Shiba Inu has also recorded significant growth, following in the footsteps of Bitcoin and Ethereum.

Yesterday, Shiba Inu hit a five-month high of $0.00002785. Although the token experienced a small correction that raised its price to $0.00002511, Shiba Inu is still up 13.8% in 24 hours, 49.02% in one week, and 40.11% in the last month.

Why SHIB has rallied along with Bitcoin and Ethereum

After SHIB's remarkable rally, Shiba Inu leader Shitoshi Kusama addressed market watchers who are surprised that a memcoin like SHIB can rise alongside big “bois” (boys) like Bitcoin and Ethereum.

The shiba inu leader suggested that shiba inu's success is not due to its meme status or just hype, but to notable factors such as technology and innovative thinking.

Kusama will discuss the potential of shiba-inu in an upcoming podcast

He hinted at an upcoming campaign to educate the wider crypto community about the potential of Shiba Inu and showcase how he helped SHIB survive the bear market.

Part of this campaign will include him as a guest on a podcast where he will discuss the potential of the siba inu in detail, including its technology, resilience in a bear market, and strength.

His commentary suggests plans to educate crypto-enthusiasts about how siba-inu's technology and innovative thinking has contributed to SHIB's success, rather than the origins of the token meme.

He did not provide details about the date and time of the podcast. In the meantime, he encouraged members of the Shiba Inu community to keep an eye out for updates.

While Shiba Inu was originally launched as a meme token in August 2020, its ecosystem team has launched major projects to turn SHIB into a utility token. These include Shibarium, Shiba Eternity, Agent Shiboshi, SHIB: The Metaverse, ShibaSwap, and the upcoming privacy blockchain.

Despite SHIB's recent rise, the asset is still 44.2% lower from its peak price of $0.000045 recorded in March. However, as the market continues to react positively to the re-election of Donald Trump, who has promised to support fairer and clearer regulation, SHIB could surpass the $0.000045 mark, approaching its previous ATH record of $0.00008616.

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AI advised on which cryptocurrencies to invest in in November

Artificial intelligence (AI) Perplexity AI has answered the question of which alternative cryptocurrencies to bitcoin are worth buying in November 2024.

To reduce risk and maximize potential returns, the AI recommends investing:

-- 25% of capital in Ethereum (ETH);
-- 15% each in Solana (SOL) and Uniswap (UNI);
-- 10% each in Cardano (ADA), Polkadot (DOT) and Aave (AAVE);
-- 5% each in MultiversX (EGLD), Chainlink (LINK) and The Graph (GRT).

Perplexity AI suggests investing half of the money in the leading altcoins Ethereum, Solana and Cardano, apparently considering them the most reliable, but inferior to lesser-known coins in terms of potential upside.

Investments in MultiversX, Chainlink and The Graph can bring impressive profits or turn into losses, so the AI has allocated a small portion of capital for their acquisition. Polkadot, Uniswap and Aave are able to significantly increase the invested funds due to the increased popularity of DeFi, which issued these coins.

Former Binance exchange director Changpeng Zhao recently emphasized the need to diversify a cryptocurrency investment portfolio, warning of the risk of “putting all your eggs in one basket.” Accordingly, Perplexity AI's advice to buy multiple digital assets is sound.

Chanpeng also cautioned virtual currency traders about the upcoming pumps and dumps that always occur in the digital asset market and should not take traders out of their mental equilibrium.

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Dogecoin rose 62% in a week

DOGE's current price pattern replicates the one seen in late 2020 and 2016.

For the first time since the beginning of January 2021, the ban will come into effect.

Dogecoin (DOGE), the world's largest meme-focused cryptocurrency, is gaining momentum, up 62% this week, its best performance since February.

A closer look at DOGE's weekly price chart shows that the cryptocurrency is repeating the momentum of late 2020, when the price rose 1,500% to reach 73 cents by early May 2021.

The latest DOGE price spike followed the conclusion of the U.S. presidential election and a year-long period of sideways movement reminiscent of what was seen in late 2020 and 2016.

The 50-week simple moving average is poised to cross the 100-week SMA. This technical analysis pattern gives the green light to traders who have been hesitant until now. A similar bullish crossover pattern was observed after the US election in November 2020.

Judging by history, DOGE could continue to rise in the coming weeks, potentially reaching new highs above the 73 cents level reached in 2021.

Other indicators support the positive outlook. For example, the 14-week relative strength index has risen above 70, indicating a strong uptrend. This threshold marks the FOMO (fear of missing out) phase of the bull market in 2021.

Note that meme coins tend to be more volatile than market leaders such as bitcoin and ether, and often change direction quickly. Their volatility requires constant monitoring of positions and strict adherence to risk management tools such as stop-loss strategies for traders.

Omkar Godbole, a Chartered Market Specialist, is a Senior Analyst at CoinDesk and one of the Managing Editors for Markets. The opinions expressed here are his own.

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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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Pump Fun sells 43,000 SOLs

Exchange-launched meme coin Pump Fun has sold off most of its SOL holdings following Solana's recent surge to $220. This came amid predictions that Solana could soon reach its current all-time high (ATH) and possibly surpass it.

Pump Fun sells 43,000 SOLs amid Solana price gains

In X post, network analytics platform Lookonchain reported that Pump Fun sold 43,000 SOL ($9.46 million). The meme coin startup sold 793,243 SOLs ($132.5 million) out of total revenue of nearly 1.2 million SOLs ($263 million). Solscan data shows that the Pump Fun fee account still holds 220,865 SOL ($48.4 million).

This comes after the price of Solana hit $220, which was a one-year high for the cryptocurrency. The outlook for SOL is currently optimistic as the price of bitcoin is rising and bullish sentiment prevails in the broader cryptocurrency market.

The price of Solana is also on the rise given the influx of liquidity into the SOL ecosystem. Debridge data showed that over $160 million dollars has been transferred into the Solana ecosystem in the past seven days.

The meme coin frenzy on the Solana network has partially contributed to these inflows, as market participants are eager to trade meme coins on the network. Today, that frenzy has reached a peak as Solana ACT and PNUT meme coins have surged 1,300% and 250%, respectively, since listing on Binance.

Thanks to this hype around Solana meme coins, Solana is now leading the Ethereum Decentralized Exchange (DEX) in trading volume for the sixth week in a row. DeFiLlama data shows that Solana's trading volume totaled $17.484 billion over the past seven days, while Ethereum's trading volume on the DEX totaled $14.97 billion over that period.

SOL Soon to hit a record high

In his post, Altcoin crypto analyst Sherpa stated that the price of Solana will soon reach its current high of $260. He made this prediction noting that market participants should not discount “the biggest casino of this cycle,” alluding to the hype surrounding meme coins on the Solana network.

The analyst's chart accompanying the article shows that Solana's price could quickly rise to $290 once it breaks its all-time high of $260. According to CoinGape's market analysis, the next potential targets for Solana are $263 and $330 after the recent price increase. Meanwhile, there is a possibility that SOL could rise to $1,000 in this market cycle.

At the time of writing, Solana's price is around $219, up 4% in the last 24 hours. SOL trading volume is up more than 40%, with $10.17 billion traded during this period.

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Microstrategy shares hit an all-time high of $340

According to NASDAQ, the stock price of business intelligence company Microstrategy reached an all-time high of $350 on Nov. 11.

The rise in the company's stock coincides with the historic rise in bitcoin prices on Monday. Earlier in the day, the cryptocurrency broke the $87,000 mark.

Microstrategy raised a record $12 billion in a single day - six times the trading volume of JP Morgan or General Electric, Bloomberg senior ETF analyst Eric Balchunas said on social media platform X.

Microstrategy is the largest corporate bitcoin holder whose shares are publicly traded. On Monday morning, the firm announced that it had spent more than $2 billion to buy another 27,200 bitcoins, increasing the combined bitcoin holdings of its company and its subsidiaries to 279,420 bitcoins.

When MSTR fell sharply from its previous all-time high in 2000

Microstrategy's stock had previously reached an all-time high of $333 in 2000. However, in late March 2000, the company had to restate its financial results for fiscal years 1998 and 1999, and eventually 1997. The Securities and Exchange Commission said in a statement released Dec. 14, 2000, that the company had overstated its earnings for the three-year period and reduced the originally reported $365 million by $66 million.

“Approximately $54 million, or 80 percent, of these restated revenues relate to 1999,” the SEC said.

The agency also filed civil injunctive actions against three Microstrategy executives related to overstating the company's revenues and profits. Michael Saylor, Microstrategy's co-founder and CEO, was among those three. He paid $8.28 million in restitution for illegally obtained profits in addition to a $350,000 civil penalty.

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Don't miss the bullish reversal rally of Toncoin (TON)

Toncoin's price hasn't changed much in recent weeks, spending several weeks in a consolidation range. However, the current chart indicates a possible bullish reversal that could prepare TON for an upward rally.

The 50-day EMA, an important short-term indicator that traders often use to determine the start of bullish momentum, has been successfully broken by TON in recent days. In addition, the 100-day and 200-day EMAs, which are often considered important levels for determining medium- and long-term market trends, are approaching TON. A strong reversal could be confirmed by a break above these levels, which would attract more buyers hoping to profit from the altcoin rally.

There is still room for upside, although the Relative Strength Index (RSI) is close to the overbought zone with a reading in the mid-60s. This indicator indicates a positive setup for a long-term uptrend, implying that there is continued buying interest with no indication of an impending sell-off. Volume, the most important factor in confirming price moves, has also increased, giving the current rally additional support.

This increase in volume suggests that investors and traders are actively investing in this bullish reversal, reinforcing the possibility of further momentum if Toncoin can hold its current position. The 100-day EMA at around $5.27 and the 50-day EMA at around $5.05 are important support levels that investors should keep an eye on. Toncoin could indicate the strength and stability of the current uptrend and lay the groundwork for future gains if it maintains these levels.

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The expert did not rule out the growth of bitcoin to $100 thousand by the end of the year.

If U.S. President-elect Donald Trump continues to declare support for cryptocurrencies and specific actions in this direction, the value of bitcoin (BTC) by the end of this year may reach $100 thousand, Capital Lab partner Evgeny Shatov told “Izvestia” on Monday, November 11.

Earlier in the day, the cost of BTC updated the historical maximum, exceeding $82 thousand.

Shatov explained that such growth of the rate was influenced by the results of the elections in the United States.

“Newly elected President Donald Trump is in favor of supporting digital assets, and the prospect of pro-cryptocurrency lawmakers in Congress also added positivity. The digital asset industry has spent more than $100 million to support a number of crypto-friendly candidates and the election victory of the candidate from the Republican Party was a positive signal for it,” he said.

The expert recalled that Trump promised during the election campaign to put the US at the center of the digital asset industry, including the creation of a strategic bitcoin reserve and the appointment of regulators supporting digital assets. Meanwhile, his broader program to stimulate domestic economic growth, lower taxes and cut red tape has sparked a buying boom in stocks, credit and has not ignored cryptocurrencies.

“Bitcoin is up about 94% since the start of 2024, fueled by robust demand for cryptocurrencies, the start of U.S. exchange-traded fund trading and the Federal Reserve's interest rate cuts. It is highly likely that bitcoin's rise could continue. If the newly elected president continues to make statements about support for cryptocurrencies and specific actions in this direction, which he is going to take after coming to power, the value of bitcoin by the end of the year may reach $100 thousand,” - concluded Shatov.

In September, the director of the Association of Industrial Mining Sergei Bezdelov at the session “Industrial Mining” of the Eastern Economic Forum said that in 2023, 54 thousand bitcoins were mined in Russia. They can bring the treasury taxes in the amount of 50 billion rubles on the horizon of several years.

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Aggregate traffic on exchanges grew by 8% in October

Cumulative monthly traffic on the top 20 cryptocurrency exchanges rose 8% in October, reflecting increased investor interest and growing retail trader participation ahead of the US election in 2024.

According to ICO Analytics, memcoin platform Pump Fun recorded the highest monthly increase in percentage terms at 100% in October. Crypto exchange BullX followed with a 78% increase in web traffic from September to October, while decentralized exchange Uniswap ranked third with a 42% increase.

Binance, WhiteBit and Coinbase led in monthly traffic by total visits in October with 54 million, 33 million and 30 million visits respectively.

The increase in traffic led to a rally in cryptocurrency markets, consistent with the “uptober” narrative, or the expectation that digital asset markets typically rise in October after sideways trading trends during the summer months.

Evidence of a sustained rally

While cryptocurrency exchanges experienced an increase in web traffic ahead of the 2024 U.S. election, the results of the Nov. 6 race triggered a rally that lifted the price of bitcoin (BTC) to new all-time highs.

Several indicators suggest that the current rally may be sustainable and is just beginning. Factors include an additional $1.1 billion of open interest in bitcoin futures contracts on the Chicago Mercantile Exchange, anticipation of lower interest rates, and strong inflows into bitcoin ETFs.

On Nov. 6, BlackRock's Bitcoin IBIT ETF experienced its highest volume ever - trading at $4.1 billion - following the victory of pro-cryptocurrency Republican candidate former President Donald Trump.

Recent inflows to the exchange of stablecoins, which investors use as an indicator to gauge market interest, are another signal that traders expect the price to rise further. On Nov. 7, inflows to the Stablecoin Exchange reached $9.3 billion as the price of bitcoin continued to rise.

The recent rise has also led to a shift in investor sentiment toward Ethereum, as the price of Ethereum (ETH) surpassed the $3,000 level and inflows into the Ethereum ETF turned positive after months of disappointing price movement.

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Galaxy discontinues hosting for bitcoin miner Argo

Galaxy achieved a realized hash rate of 2.58 EH/s in the third quarter with 176 miners.

Galaxy Digital plans to finalize a contract to host 2.3 EH/s of Argo Blockchain's Bitcoin miners as it explores the possibility of moving its mining segment to high performance computing (HPC) hosting.

In its third-quarter earnings report, Galaxy said it recently signed a non-binding agreement with the U.S. hyperscaler to host HPC computers at its Helios facility in West Texas, which is currently used for bitcoin mining.

"The agreement includes options to dedicate all 800 megawatts of currently approved Helios capacity to hosting and supporting HPC. Completion of this transaction is subject to the execution of definitive documents, customary due diligence and party approvals,” Galaxy said in a press release.

The move positions Galaxy as the latest Bitcoin mining infrastructure operator considering a pivot to AI amid low post-Halving network mining revenue. Galaxy's own Bitcoin mining production fell from 373 BTC in the first quarter to 242 BTC and 176 BTC in the second and third quarters, respectively.

As of Sept. 30, Galaxy was managing a 6.2 EH/s hashrate, mainly due to 200 megawatts of working capacity at the Helios site, according to its quarterly filing. This includes Galaxy's proprietary hardware and 23,000 S19j Pro Bitcoin miners hosted by Argo.

On Thursday, Argo mentioned it received a notice from Galaxy, despite ongoing discussions, stating that Galaxy would not be extending its hosting contract beyond the current expiration date of Dec. 28 due to its HPC pivot plan. Argo indicated that it is evaluating the future of the S19j Pro, which at the current hash price generates revenue of about $65/mWh. The miners, which are currently deployed in Texas, make up the majority of Argo's total hashing capacity.

While Argo still owns and operates its own facility in Baie-Comeau, Quebec province, the company on Thursday proposed a plan to expand infrastructure capacity for potential HPC hosting as well, rather than the bitcoin miners that will soon go offline.

“The HPC expansion will require the company to incur capital expenditures at its Baie-Comeau site, which are expected to be covered by additional financing, some aspects of which may be subject to shareholder approval,” Argo said in a press release.

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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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