Miner Greenidge Generation won the court for the right to mine bitcoin in New York State

-- Greenidge has announced the rejection of the claim by the New York State Department of Environmental Protection.
-- As part of the trial, the agency banned the company from mining cryptocurrency in the region.
-- The conflict began around restrictions on air pollution and the refusal to issue a Title V Air Permit document.

Bitcoin miner Greenidge Generation has secured the dismissal of a lawsuit by the New York State Department of Environmental Protection (DEC). The case concerned the refusal of the department to issue the company a Title V Air Permit, which did not allow the company to engage in cryptocurrency mining.

According to court documents, the confrontation between Greenidge and DEC began from the moment when the firm tried to issue the mentioned documents. They relate to air pollution permits in New York State.

The department refused to issue a Title V Air Permit to the company. As an argument, DEC pointed to a violation of the Climate Leadership and Community Protection Act (CLCPA).

Representatives of the company challenged the agency's decision in response. Although Greenidge's initial application was rejected, further legal proceedings led her to victory. The bitcoin miner considers the aforementioned ruling to be a triumph of justice over "political interference" in the current legislation.

"The climate Law is a good and well—intentioned law, but it did not give DEC's political appointees and bureaucrats the authority to rewrite it. [...] They tried their best, in collusion with their allies in the human rights community, for whom the truth was too far a bridge, but no amount of PR could change this fact," the company commented on the court decision.

In addition, Greenidge said that the ruling highlights the importance of data centers. In their opinion, they play an important role in the activities of the AI sector, the crypto industry and cloud computing.

Earlier, analysts of the research organization Exponential Science (ES) published a report on the prohibition of mining in various countries. In their opinion, the introduction of thoughtless restrictions on the mining of cryptocurrencies can do more harm than good.

Recall that we wrote that the residents of Texas filed a class action lawsuit against the bitcoin miner Marathon Digital.

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The number of transactions with CryptoPunks has reached 150 in the past 5 days

According to trader and collector punk9059, sales of CryptoPunks have increased dramatically, reaching 150 deals in the last 5 days, which was the highest since the beginning of 2023. Another well-known specialist under the pseudonym punk 6529, stressed: over the past 24 hours, sales of "Cryptopanks" amounted to $ 10 million. The surge in activity may indicate increased interest in the iconic NFT collection after several months of calm. The chart shows a distinct peak, showing how demand for unique digital assets remains unpredictable and depends on the moods of market participants.

Experts point out that this activity may be related to news about upcoming announcements or to increased interest in the NFT sector as a whole. An increase in the number of transactions often signals new bidders or the return of old investors who have decided to try their luck again in the world of collectible tokens.

It is interesting to note that such rises occur against the backdrop of a changing macroeconomic situation and price fluctuations in the cryptosphere. In this case, it was CryptoPunks that stood out in the big picture. Market participants are monitoring whether this growth will consolidate or remain a temporary phenomenon.

Traders and analysts are also looking at how long-term Punk owners are reacting to this surge. Some may decide to sell their tokens, making a profit, while others may hold them in anticipation of even greater price hikes. Information about the activity of sellers and buyers in the coming days and weeks can show whether the market will remain consistently active.

CryptoPunks is one of the first NFT meetings. She continues to hold a special place among collectors. Regardless of whether the current surge is caused by a sudden wave of interest or fundamental changes, the NFT market continues to demonstrate its potential.

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As the burning rate increases, Shiba Inu is waiting for a 90% rally%

Over the past day, the exchange rate of the second most popular meme token has fallen by almost 5.7% to the level of $0.000024. Nevertheless, there are signs that the price of Shiba Inu (SHIB) may again test the maximum of $0.00003045 recorded this week.

One of the reasons for the optimistic forecast is the data from the Shibburn platform, which shows that over the past 24 hours, the burning rate of Shiba Inu has increased by 115%.

More than 16.1 million memcoins have recently been burned. In total, 410 trillion tokens have been destroyed since the launch of SHIB. Currently, 583 trillion remains in circulation.

Recall that developers burn tokens by moving them to an inaccessible address. Thus, they reduce their number in circulation, creating a shortage.

Another potential reason for the SHIB rally may be an increase in the number of addresses on the Shibarium network. There are already more than 1.89 million of them. If the trend continues, the figure may exceed 2 million by the end of the year. Activity within the network is also growing: 509 million transactions have taken place in Shibarium over the past few months.

Cryptanalysts also talk about technical indicators that point to a "bullish" scenario for memcoin.

For example, on the Shiba Inu daily chart, the 50-day and 200-day moving averages have formed a "golden cross" pattern, which in most cases leads to rapid growth of the asset.

SHIB has also formed a "cup with handle" pattern, with the current decline being part of the "handle". In most cases, this pattern usually leads to a strong bullish breakout. If this happens, the coin could rise to an annual maximum of $0.000045, which is about 90% higher than the current level.

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Sentiment: Memcoins have surpassed Bitcoin in popularity

Analysts of the Santiment platform reported that memcoins like Peanut the Squirrel (PNUT), Pepe (PEPE) and Dogecoin (DOGE) have surpassed bitcoin in popularity. Experts measured popularity by the number of mentions on social networks.

Now PNUT, PEPE, DOGE, as well as Memecoin (MEME), Peanut (NUX) and 8-BitCoin (COIN) are among the most popular memcoins on the market, stated in the Sentiment. According to analysts, bitcoin ranks seventh in terms of the degree of discussion on social networks.

The trading volume on the meme coin market reached $58.9 billion, and the market capitalization exceeded $119 billion. In the medium term, interest in such virtual coins will remain at a high level, experts are sure.

Memcoin PNUT has shown a sharp rally over the past week and is trading at around $1.69 with a market capitalization of $1.68 billion, showing an increase of 2925.65% over the past month.

PEPE has performed well, rising by 95.77% in the last 30 days, unlike DOGE, which has fallen by 7.9% in the last 24 hours and by 50.87% from a historical high of $0.7376.

Earlier, Binance Research platform specialists presented the results of a study according to which, since 2022, the share of memcoins in the altcoin market has increased from 4% to 11%. Investors are showing more and more interest in this class of digital assets, experts say.

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Dogecoin investors' class action lawsuit against Ilon Musk has been withdrawn

A group of Dogecoin investors have withdrawn their class action lawsuit against billionaire Ilon Musk. The crypto-enthusiasts originally went to court claiming that the Tesla CEO manipulated the market value of DOGE back in 2021. Another complaint was dismissed in August. However, Ilon Musk himself investors filed motions and appeals. The trial began in the summer of 2021.

At that time, Dogecoin rose sharply in value, reaching a historic extreme. The billionaire at that time often published tweets where Dogecoin appeared. It is possible that this largely contributed to the rise in its value from $0.1 to $0.7.

“Investors accused Musk of actively publishing posts on Twitter. He also appeared on the Saturday Night Live program on NBC. By doing so, he tried to tie the trading activity of the trades to his public activity,” Reuters reported. At that time, Ilon Musk actively talked about the fact that Dogecoin could become a kind of standard for the global financial system. He also reported that he would send the DOGE coin to the moon.

It is worth noting that Ilon Musk recently took the position of head in the new Department of Government Efficiency. This initiative is aimed at implementing a large-scale reform outside the US government.

It is also worth noting that since November 5, Dogecoin continues to show very active growth dynamics. Recently, among all cryptocurrencies from the top 10 by capitalization, it is the main memcoin that has added the most in value.

Ilon Musk was not only accused of public activity that was focused on the DOGE price plumping. Several investors also alleged that he engaged in active insider trading. At one point, he sold off previously purchased tokens, making a profit of at least $120 million. However, the courts did not find facts that would prove such a thing.

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How the expiration of $4 billion options will affect BTC and ETH

A large number of options for Bitcoin (BTC) and Ethereum (ETH) totaling more than $4 billion expire today

We are looking at how expiration will affect the price dynamics of the two largest cryptocurrencies by capitalization.

Analysts say the options market is highly polarized

According to Deribit, on November 15, 38,623 bitcoin options contracts will expire. The total amount of these contracts is $3.4 billion.

The maximum pain point is at around $80 thousand. The put and call ratio is 0.85.

189,662 Ethereum options contracts worth $581 million are also expiring today. The maximum pain point of these contracts is $3,000, and the put—to-call ratio is 0.91.

In options trading, the maximum pain point means the level of the asset price at which option holders incur the greatest losses. The put and call ratio is a comparison of the number of options for lowering the value with options for increasing. The latter indicator helps to understand which sentiment dominates the market.

The put and call ratio below 1 signals that traders are betting on further growth in bitcoin and Ethereum quotes.

Most investors are confident that by the end of the year, the value of BTC will reach $ 100 thousand. However, there are two more major option expirations ahead of the market, which can significantly affect the dynamics of cryptocurrencies and affect their trajectory in 2025.

"Looking at the options market, you can see a clear polarization, as well as a strong fragmentation in trading: some large traders tend to open long positions, while a larger number of market participants are currently on the short side," the Greeks.live analysts shared.

Against the background of expiration, there may be increased volatility in the market. Therefore, traders should be very careful.

According to CoinGecko, at the time of writing, bitcoin is trading at $88,294, having dropped by 1.7% over the past day. At the same time, the price of Ethereum has decreased by 3.9% and now stands at $3,069.

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Memcoin Rally: Segment assets soared in price amid Bitcoin Surge

-- On November 13, bitcoin updated its historical maximum.
-- The crypto market as a whole reacted positively.
-- There is a rally in the memcoin sector, most positions have been marked by positive dynamics.
-- Assets such as Pepe Coin, Dogecoin and Peanut the Squirrel have grown significantly.

On November 13, 2024, bitcoin re-updated the historical maximum at a level above $91,000. This has led to the growth of other crypto assets. The memcoin sector should be singled out separately, where the price of some tokens has increased by tens of percent.

Of the top 10 assets by capitalization, only Neiro (NEIRO) shows a slight drawdown on the daily chart. The average increase in all positions is about 39%.

The Pepe Coin token (PEPE) has updated the historical maximum at $0.0000199.

Dogecoin (DOGE), the largest memcoin by capitalization, is also showing positive dynamics. The value of the asset returned to the level above $0.41, breaking through $0.43 at the moment.

Earlier, we reported that Elon Musk will head the Department of Public Efficiency (DOGE), which could also affect the price of memcoin.

We also note that we have collected expert opinions on the growth of bitcoin and, as a result, the market as a whole in one material.

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The cryptocurrency market is in a State of "extreme Greed"

On November 12, the crypto market's fear and greed index reached 80 points, indicating an "extreme degree of greed."

The index last reached 80 points on April 9, 2024, shortly before bitcoin adjusted by 18% over the next three weeks. Then, in early April, the flagship cryptocurrency fell from above $69,135 to $56,500 on May 1.

Despite the potential signal of a correction, most analysts are optimistic about the future of bitcoin. After the flagship cryptocurrency approached the $90,000 mark, experts expect further growth of the asset to $100,000 this year. This is also believed by users of the Polymarket DeFi forecasting platform, who estimate this probability at 62%.

At the same time, the current leverage ratio on crypto exchanges has already reached 0.217, which was a record high since October 2023, according to CryptoQuant data.

The increased financing rates and bullish bias in options indicate that both retail and institutional investors are seeking additional profits, and many of them are using their positions with leverage," said Shunet Jan, head of derivatives at Bybit exchange.

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How much will the Dogecoin rate grow thanks to Elon Musk?

Many traders trading meme tokens are concerned about the question of how much Dogecoin (DOGE) will rise in price due to the "Mask effect".

On November 13, newly elected US President Donald Trump announced that Elon Musk and businessman Vivek Ramaswamy will head the Department for Improving Government Efficiency, which will be abbreviated as D.O.G.E. As a rule, mentioning Dogecoin in the context of Musk causes a pump in the coin market, for which Ilona was jokingly nicknamed the Father of Dogecoin. There is an opinion that the cryptocurrency exchange rate will rise significantly when the department, which will be headed by Elon, will often flash in the news.

Trump's election victory triggered the start of a powerful bullish rally in the Dogecoin market, during which the digital asset has already risen in price by 165%. However, on November 12, after reaching a peak at $ 0.44 on the Coinbase exchange, the price of the cryptocurrency began to adjust and fell to $ 0.37. The downward movement has not stopped, even despite the appointment of Musk as head of the D.O.G.E.

The Dogecoin rate did not grow at the expense of speculators. According to Santiment employees, over the past four weeks, the number of crypto wallets storing less than 100,000 DOGE worth $ 37,800 at the current exchange rate has increased by 74,885, while the number of crypto vaults under the control of whales and sharks, on the contrary, has decreased by 350. Given these facts, it can be assumed that Dogecoin became more expensive due to capital inflows from private investors.

If people continue to actively invest in DOGE, then the bullish trend in the cryptocurrency market will resume, and its value will update the historical maximum reached in June 2021 at $0.487.

Most likely, the dynamics of the Dogecoin exchange rate will correspond to fluctuations in the bitcoin price. In this case, the value of the coin can be adjusted to the upward trend line, which runs around $ 0.27. Starting from this barrier, the price of the token will rush up and reach at least $0.62, the mark at which the Fibonacci extension level of 1.272 from the previous price maximum is located.

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During the day, $1.07 billion was liquidated on the cryptocurrency market

In the last 24 hours, the bitcoin (BTC) exchange rate has made an impressive leap, jumping by 8% and setting a new historical high at around $ 90,000. At the same time, a wave of liquidations totaling more than $1.07 billion followed. It is noteworthy that both long and short positions were closed, while the 1st accounted for about 52.24% of the total volume, which is about $ 559 million, and the 2nd - 45.56%, or about $487 million.

The highest volume of liquidations was recorded on Binance — $420 million. It is followed by OKX with $276 million and Bybit with $213 million. HTX and CoinEx close the list with $120 million and $27 million, respectively. The massive liquidation indicates that many traders were not prepared for such sharp spikes in the price of BTC, which led to significant losses for those who held positions with high leverage.

Analysts believe that this situation may indicate a growing interest in bitcoin from major players. Liquidations often fuel activity, as traders are forced to exit unprofitable positions, which causes additional fluctuations. In addition, mass liquidations can contribute to a short-term reduction in volatility, as the amount of borrowed funds decreases.

Experts note that volatility can attract new investors to the market, who see bitcoin not only as a speculative tool, but also as an asset for long-term investments. Such movements also intensify discussions about the role of BTC as "digital gold" and a "safe haven" for capital in an unstable global economy.

The current situation shows that interest in cryptocurrencies continues to grow, and increased liquidity creates conditions for larger-scale movements in the market. In the future, this may push the BTC exchange rate to new records if demand is supported by both retail investors and institutional participants.

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Italy Reduces Proposed Tax Increase on Cryptocurrencies to 28%

The Italian government has taken steps to reduce the proposed capital gains tax on cryptocurrencies from an initial 42% to 28%. The League, one of Prime Minister Georgia Meloni's partners in the ruling coalition, has proposed an amendment in this regard.

This was due to concerns that a higher tax could scare investors away from the fast-growing Italian digital asset market. The amendment, supported by the administration of Prime Minister Meloni, is expected to attract both crypto investors and companies in Italy. This is a League amendment.

The initial plan to raise taxes by 42%, proposed in the October draft budget, was aimed at increasing revenues as part of the economic plan for 2025. However, the high tax rate introduced has raised concerns about Italy's competitiveness in the global cryptocurrency market.

Industry representatives said that the 42% tax rate could negatively affect Italy's attractiveness for businesses related to cryptocurrencies, including blockchain, digital asset trading and investments. They argue that a lower rate will help Italy maintain its attractiveness to both local and foreign investors. It will also contribute to the growth of the financial innovation sector in the country.

Taking into account the proposed amendment, the tax rate of 28% will help Italy get closer to the current rate of 26%, thereby reducing tax pressure on crypto investors. This tax policy is currently awaiting government approval, and it is expected to be approved soon. If the amendment is approved, investors in cryptocurrencies in Italy will receive a clear and possibly favorable set of rules.

Another coalition partner, Forward Italy, has also put forward another amendment to completely eliminate the tax increase. The proposal also aims to eliminate the current capital gains tax exemption for income not exceeding $2,120.

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Keith's Investment in ACT Brings in Millions after Binance Listing

A well-known crypto miner recently invested heavily in the ACT token, spending a staggering $5.6 million to purchase 17.1 million ACT tokens worth $9.4 million at a price of $0.33 per token.

This major acquisition followed the announcement by Binance, one of the largest cryptocurrency exchanges, of the listing of ACT. The acquisition by Whaler allowed him to become the largest individual token holder, strategically positioning himself in the ACT ecosystem and potentially influencing future market trends.

Whaling: The whale spent $5.6 million to purchase 17.1 million ACT ($9.4 million) at a price of $0.33 after Binance announced the listing of ACT.

Keith became the largest individual holder of ACT with an unrealized profit of $3.8 million!

But keith lost $590,000 trading ACT earlier.

According to Lookonchain, the investment was likely influenced by Binance's announcement of a token listing, which has historically led to higher prices for newly issued assets. The purchase by kit was made on time, which allowed him to benefit from the increase in token prices. After Binance's announcement, trading activity on ACT increased and prices increased significantly, which allowed the whale to make an unrealized profit of approximately $3.8 million.

The unrealized profit of the "whale" in the amount of $ 3.8 million demonstrates the potential of strategic investments in the cryptocurrency market. By making a massive purchase after Binance's announcement, the "whale" effectively used the dynamics of the market to its advantage. Although the price of the ACT fluctuated, the purchase time at $0.33 per token suggests that the "whale" expected the price of the token to rise after listing, which is a common trend for recently placed assets on major exchanges.

Despite the recent growth, the history of this "whale" with ACT trading has not been profitable. Previous transactions with ACT resulted in the investor losing $590,000. The reasons for these previous losses are still being investigated, but they could have been caused by price volatility, unforeseen market conditions or incorrect trading strategies. However, this setback did not prevent the whale from returning to the market and doubling its assets in ACT.

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PEPE price hits highest level since May 2024

PEPE price is steadily rising, up almost 60% in the last seven days. The bullish momentum is supported by positive technical indicators, including EMA lines and a healthy RSI level.

However, some signs suggest that while buyers are still in control, the intensity of the uptrend may be starting to wane.

PEPE's Current Trend Still Strong

The PEPE ADX index is currently at 46.13, which is a slight decline from over 50 points just a day ago. This decline suggests that while trend strength remains strong, the intensity of the uptrend may be weakening slightly.

Despite this, the PEPE has been rising steadily, up 59.69% over the past seven days. This suggests that buyers are still in control, but momentum may be starting to slow.

The Average Directional Index (ADX) is a technical indicator that is used to measure the strength of a trend regardless of its direction. ADX values below 20 indicate a weak trend, while values above 25 indicate a strong trend. Since the ADX for PEPE is currently at 46.13, the uptrend remains strong, although the recent drop in ADX indicates that the strength of the trend may be weakening.

This suggests that while PEPE is still showing bullish momentum, investors should look out for signs that the strength of the move may be weakening, which could lead to a period of consolidation.

PEPE is no longer in an overbought phase

The PEPE Relative Strength Index (RSI) is currently at 60.56, down nearly 80 points from just a few days ago. This decline indicates that buying pressure has eased significantly after reaching an overbought condition.

The falling RSI suggests that while positive momentum still remains, it is no longer as strong as it used to be and the risk of an immediate correction has diminished.

As a rule of thumb, an RSI above 70 means that buyers have taken the asset into overbought territory, which could lead to a price correction. On the other hand, an RSI below 30 indicates that sellers have taken the asset into oversold territory, which could create a buying opportunity.

PEPE's RSI is currently at 60.56, which means it is no longer in overbought territory, but is still showing a healthy level of bullish momentum.

PEPE price forecast: highest price since May 2024?

PEPE's EMA lines are currently showing a very strong bullish configuration: the short-term EMAs are above the long-term EMAs, and price is holding firmly above them all.

If the uptrend continues, PEPE could test the next resistance at $0.00001580. If this resistance is overcome, the price could potentially rise to $0.00001726, which would be the highest level since May. This represents a possible upside of 30.85%.

However, if the bullish momentum fades and there is selling pressure, the PEPE price could correct to the support level around $0.00001084.

If this support fails, the price could fall even lower to $0.0000089, which means a potential 32% decline from the current level.

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BlackRock's spot bitcoin-ETF trading volume hits a record $4.5 billion

On November 11, the turnover of BlackRock's iShares Bitcoin Trust ETF reached the highest in history at $4.5 billion, according to Bloomberg analyst Eric Balchunas.

The previous record was $4.14 billion, which preceded the maximum ever inflow of $1.12 billion into the product (the sector as a whole - $1.38 billion)

The expert noted that we can expect a repetition of this situation.

According to Balchunas' calculations, the overall trading volume of bitcoin-related instruments amounted to $38 billion.

“Just a crazy day, it really deserves the name a la ‘Volmageddon ’,” he commented.

The backdrop was the continuation of the first cryptocurrency's rally with a new ATH near $89,000.

On Nov. 11, inflows into spot bitcoin ETFs totaled $357.6 million and trading volume was a record $7.3 billion.

Cumulative inflows since the approval of the BTC-ETF in January increased to $26.2 billion.

Recall, in Bernstein predicted that if Donald Trump wins, bitcoin will reach $80,000-90,000.

Earlier, the specialists of the company called for “as soon as possible” to add crypto-assets to the investment portfolio. They recommended buying a basket of digital assets including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE and LINK.

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HMSTR has grown ahead of the start of Hamster Kombat's second season

Hamster Kombat's token, HMSTR, has risen 83% over the past week, sparking a wave of excitement among the community

The recent jump in HMSTR's price coincided with hints of the upcoming launch of the second season. This has increased the excitement around the token. An announcement posted on Hamster Kombat's official channel has greatly fueled users' curiosity about the next phase.

Hamster Kombat aims for the stars ...

HMSTR's recent rise coincided with bitcoin rallying to new record highs. Positive trends in the market accounted for HMSTR's intra-week gain of approximately 83%.

On November ninth, the development team announced the suspension of token withdrawals. This decision was part of a strategy to incentivize players who left their HMSTR tokens in the game. According to an official statement, all such players will be rewarded. The move demonstrates a strong commitment to reward long-term holders and fight for their loyalty.

The developers promise that the second season will bring significant changes to the gameplay and tokenomics of the project. Among the planned innovations are the management of a virtual game studio, tools for creating personalized game spaces, a system for hiring team members, community-driven game challenges, and an improved token economy aimed at maintaining their sustainable value.

...But it goes through thorns

Hamster Kombat's path, however, cannot be called easy. After the first airdrop on Sept. 26, the platform faced a number of challenges. These included a drop in active users from 300 million to 49.9 million, community dissatisfaction with the airdrop, accusations of favoritism, and concerns about the fairness of anti-cheat measures.

"The second season of Hamster Kombat won't be a success unless they fix the big mistake that got over 65% of players disqualified. It seems like this was a planned move to get rid of many users after taking advantage of their efforts. Yes, cheaters should be penalized, but their system failed to identify the real cheaters. Many who used key generators are still empowered, while honest players who spent months collecting 100-200 keys were unfairly disqualified,” commented cryptoinfluencer Keyur Rohit.

Despite these difficulties, Hamster Kombat's unique features, such as the Hamster News update, continue to attract users and set the project apart from other Telegram crypto games such as Notcoin, Dogs, and CATS.

According to rumors, the platform will switch its focus from a cryptocurrency exchange simulation to a more expansive gaming ecosystem in its second season. The developers promise to fix past bugs, stabilize tokenomics, improve gameplay and optimize reward distribution. Ahead of the launch of Season 2, these efforts show a shift in focus to community needs and game development.

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Analysts have announced the transition of the crypto market to a state of "bullish euphoria"

-- Experts from Glassnode and Fasanara Digital assessed the dynamics and trends of the crypto market in the fourth quarter of 2024.
-- They noted the growing dominance of bitcoin and the increased activity of institutions and the interest of the latter in RWA.

The market is on the verge of moving from "bullish enthusiasm" to "bullish euphoria", which is marked by the update of the bitcoin price maximum at $69,000. This is stated in the Glassnode and Fasanara Digital report on the institutional view of the crypto market for the fourth quarter of 2024.

Analysts pointed out that despite breaking through the $69,000 mark in March 2024, then investors were "too intensively" taking profits, so it took time to "cool the excitement."

Experts noted the recovery of the industry after the collapse of the FTX cryptocurrency exchange. Since November 2022, bitcoin's capitalization has grown by 372% — at the time of writing, it is over $1.7 trillion, according to CoinMarketCap. Bitcoin's dominance has increased from 38.7% to almost 60% at the time of writing.

Ethereum's market share dropped 17% to 12.8% after the Merge update. The reason is a lack of capital inflows and retail interest, analysts said.

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The bill on the bitcoin reserve was put to the vote of the US Congress

U.S. Senator Cynthia Lummis has put to the vote of Congress the "Bitcoin Law of 2024", which implies the creation of a strategic reserve of the first cryptocurrency in the country.

"[It is proposed] to create a strategic bitcoin reserve and other programs to ensure transparent management of the federal government's bitcoin assets, offset costs through the use of certain resources of the Federal Reserve System (FRS) and other purposes," the document says.

According to the initiative, the purpose of creating a reserve is "generation, storage and management of private keys associated with government bitcoin assets."

The bill implies the purchase of 1 million BTC (no more than 200,000 BTC per year for five years). The Fed's gold reserves are used for these purposes.

The shelf life of digital assets will be at least 20 years, but the document provides for exceptions. The so-called "secretary" will be responsible for the safety and monitoring of the cryptocurrency. He is also obliged to create a system of proof of reserves.

"The Secretary should ensure the geographical distribution of [reserve] facilities throughout the United States to minimize the risk of simultaneous compromise and increase sustainability," the bill says.

In addition, after the minimum retention period has expired, the secretary should not recommend the sale of more than 10% of assets from the reserve within a two-year period.

The bill also introduces several terms, including "airdrop", "bitcoin purchase program", "cold storage" and "fork". Almost all of them correspond to established formulations. However, in places where it is necessary to apply the larger word "cryptocurrency", simply "bitcoin" is used.

For example, airdrop means "the gratuitous distribution of digital assets among bitcoin holders in a large-scale, fair and non-discretionary manner."

Earlier, the head of Galaxy Digital, Mike Novogratz, predicted the exchange rate of digital gold at $ 500,000 in the event of the creation of a strategic reserve in the United States. However, he fears that his appearance will be prevented by the struggle between the branches of government.

Recall that the founder of MicroStrategy, Michael Saylor, called the bitcoin reserve "the best deal of the XXI century."

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Two Reasons why XRP Rose 15% to $0.8 amid Bitcoin's Decline

XRP has outperformed today's cryptocurrency market, increasing by about 15% in the last 24 hours, contrasting with losses of Bitcoin and Ethereum by 1.4% and 3.8%, respectively.

The digital asset briefly crossed the $0.80 mark, which was caused by a combination of regulatory changes and Ripple's strategic initiatives.

Two events coinciding with the growth of XRP are speculation around the potential resignation of US SEC Chairman Gary Jensler and Ripple's willingness to launch its anticipated RLUSD stablecoin.

SEC Chairman signals possible departure

In a recent address, Jensler reflected on his tenure, emphasizing the SEC's commitment to maintaining the integrity of U.S. financial markets. He cited regulatory achievements under his leadership, including treasury and equity market reforms.

Gensler highlighted the agency's ongoing efforts to enforce legislation in the cryptocurrency sector, noting that cryptocurrency-related cases have accounted for approximately 5-7% of the total number of law enforcement measures since 2018. Gensler emphasized the SEC's position on bitcoin, saying that it is not classified as a security, a position previously shared by former SEC chairman Jay Clayton.

Meanwhile, he stressed regulatory oversight of other digital assets, reiterating the need for clear differences in the market.

In his closing remarks, Gensler suggested a possible departure. He acknowledged the contribution of the SEC staff and expressed gratitude for the time spent in public service. Since his appointment in 2021, Gensler has overseen regulatory modernization initiatives, focusing on the rapidly developing cryptocurrency sector.

Ripple is ready to launch RLUSD

Meanwhile, Ripple's plans to introduce RLUSD, a stablecoin pegged to the US dollar, have also contributed to the recent growth of XRP. The company has processed more than $70 billion in payments using its blockchain technology, and RLUSD is committed to improving its offerings, focusing on speed, security, and cost-effectiveness.

Ripple President Monica Long stressed that RLUSD will meet the growing demand in regions such as the Asia-Pacific region, the EU and Australia. In particular, the stablecoin will be released on the XRP Ledger and Ethereum blockchain, which will provide developers with advanced use cases, especially in decentralized finance (DeFi).

Transparency increases RLUSD readiness

In addition, Ripple intends to launch RLUSD under the New York Trust license after acquiring Standard Custody, which provides a stronger regulatory framework than the Money Transfer License (MTL).

The guidelines of the New York Department of Financial Services (NYDFS) require issuers of stablecoins, including Ripple, to have reserves equal to at least 100% of the value of issued stablecoins backed by low-risk, highly liquid assets. This requirement ensures that RLUSD reserves are managed with strict control and transparency.

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The demand of retail bitcoin investors has reached a 52-month high

CryptoQuant experts reported that the demand of ordinary bitcoin investors is located near the global maximum over the past 52 weeks. Such a metric indicates that there is clear enthusiasm among the bidders. "We cannot intentionally ignore the fact that retail trading has resumed. Given the pronounced dynamics of Dogecoin, high rates and active growth of Bitcoin search queries in various search engines. This can also be seen in the change in retail investor demand over a 30-day period," said CryptoQuant analyst JA Maartunn.

These researchers also point out that retail interest extends not only to bitcoin. It is systematically shifting in favor of other coins. "Our data indicate that users have started to invest more actively in memtokens and cryptocurrencies of the DeFi segment. These categories of digital coins are probably the most popular among users in the current realities," the experts noted.

At the moment, the flagship crypto asset is showing a local pullback after an unsuccessful attempt to overcome the $93,000 mark. Meanwhile, the positive in the altcoin market provoked a sharp increase in refinancing rates. According to Ryze Labs experts, in the near future this may cause a significant spike in volatility in the global market.

"Financing rates have increased sharply, which indicates the return of aggressive leverage. At the same time, many long positions on altcoins attracted more than 50% per annum in terms of financing," Ryze Labs analysts said. Experts stressed that retail interest was more focused on cryptocurrencies from the memtoken niche. At the same time, the listing of PEPE and WIF on the Robinhood exchange has accelerated this trend.

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VanEck устанавливает новую цель по биткоину в $180 тыс., заявляя, что ралли BTC только начинается

Мэтью Сигел, руководитель отдела исследований цифровых активов в VanEck, сохраняет оптимизм в отношении ценовой траектории биткоина, предполагая, что ралли BTC только начинается.

Сигел сделал это утверждение во время интервью на CNBC. В частности, он выразил свое мнение о будущем ценовом движении крупнейшей в мире криптовалюты.

Вчера биткоин преодолел отметку в $90 000, установив исторический максимум (ATH) в $93 434. Биткоин опустился ниже отметки в $90 000 вскоре после ралли, и многие инвесторы предполагают, что восходящий тренд актива может скоро закончиться.

Биткоин только начинается

Однако Сигел считает, что ралли биткоина только начинается, прогнозируя, что ведущий актив достигнет повторных исторических максимумов в течение следующих двух кварталов. Он упомянул, что последние ценовые действия Bitcoin похожи на то, что произошло в рыночном цикле 2020/2021.

Сигель отметил, что цена Bitcoin удвоилась в 2020 году между периодом президентских выборов в США и концом года. По его словам, Bitcoin показал только 6-10%-ную коррекцию за этот период, что он назвал ожидаемым движением.

Аналогичным образом руководитель VanEck отметил, что Bitcoin повторяет свою модель 2020 года, которая началась с всплеска после выборов. Он указал, что Bitcoin уже вырос на 30% после выборов, что подтверждает идею о том, что BTC только начинает.

Факторы, подтверждающие прогноз Сигела

Его уверенность проистекает из уникальных технических индикаторов компании, которые подтверждают, что Bitcoin, как ожидается, продолжит свою бычью полосу.

Он также упомянул о неизбежном изменении настроений правительства по отношению к Bitcoin. По его словам, в кабинете министров под руководством Трампа есть несколько про-биткоин-чиновников, от вице-президента до советника по национальной безопасности.

VanEck устанавливает новую целевую цену биткоина

Следуя бычьему импульсу вокруг биткоина, Сигель прогнозирует, что к концу этого цикла он будет торговаться по $180 000. Он ожидает, что этот прогноз сбудется к следующему году.

Достижение цели в $180 000 требует, чтобы цена биткоина выросла на 97,08% от ее текущего значения в $91 331. Цель в $180 000 является последним прогнозом, который VanEck сделал для крупнейшей в мире криптовалюты.

От имени VanEck Сигель установил различные целевые показатели для биткоина. В прошлом месяце он прогнозировал, что к 2050 году биткоин может торговаться по $3 миллиона за токен с годовым темпом роста в 16%.

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In the bitcoin ETF sector, outflows of more than $400 million were recorded for the first time in seven trading days

-- On November 14, the net daily outflow of capital from spot bitcoin ETFs amounted to $400.67 million.
-- Ethereum-ETFs also recorded an outflow of $3.24 million.
-- In both sectors, the positive trend continued for seven consecutive trading days.
On November 14, 2024, the net daily outflow of capital from spot bitcoin ETFs amounted to $400.67 million. $3.24 million was withdrawn from the Ethereum ETF. The positive trend in both sectors continued for seven consecutive trading days, according to SoSo Value.

According to the platform, on November 14, two bitcoin funds received an influx of funds, namely: IBIT — $126.53 million and HODL — $2.50 million. We faced an outflow:

FBTC — $179.16 million;
ARKB — $161.72 million;
BITB — $113.94 million;
GBTC — $69.59 million;
BTC — $5.28 million.

No capital movements were recorded in five ETFs.

Bloomberg Intelligence analyst James Seyffart noted that American spot bitcoin ETFs now own approximately 1.07 million BTC. According to his forecast, this figure is likely to surpass Satoshi Nakamoto's "estimated assets" of 1.1 million BTC in the near future.

In the Ethereum-ETF sector, ETHE and ETHV faced outflows of $21.90 million and $1.14 million, respectively. Capital inflows were recorded by ETHA — $18.87 million and QETH — $929,010.

There was no activity in the Hong Kong sector of spot bitcoin and Ethereum ETFs.

Recall that on November 11, 2024, the net daily inflow of capital into American spot Ethereum ETFs updated the historical maximum, $295.48 million was received by the funds.

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Long positions on bitcoin took precedence over shorts

After the results of the US presidential election became known on November 6, bitcoin (BTC) began an impressive growth, overtaking silver and becoming the eighth largest asset in the world.

These impressive results fueled investor interest, as bitcoin seemed ready to reach the long-awaited $100,000 level. At the same time, capital began to actively flow into the crypto market in order to profit from a timely short position.

For example, in the last 24 hours alone, bitcoin shorts worth about $222 million have been liquidated. As we can see, few traders have decided to take a short position on bitcoin against the background of a price spike. Recent trading reflects a shift towards long positions, in particular, they dominated as of November 12.

On the evening of November 12, the bitcoin price almost returned to the $90,000 level, which means that every upward leap is followed by an extremely short pullback, so opening short positions should be carefully thought out.

Forecasts by various analysts indicate that the price of bitcoin should close the year at a new record high, up to $100,000. In this situation, the longists will win.

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Bit2Me crypto exchange has started serving users from Argentina

The Spanish cryptocurrency exchange Bit2Me has announced that it will offer Argentine investors access to an extensive set of more than three hundred different virtual assets.

The official Bit2Me message says that the company's activities have been approved and comply with the requirements of the National Securities Commission of Argentina (CNV).

"By registering as a virtual asset service provider (VASP) in Argentina, Bit2Me complies with the country's regulatory framework, which allows it to operate transparently and securely," the statement said.

Registered users will have access to staking services, fast cryptocurrency payments using a joint Bit2Me and MasterCard card, as well as exchange operations paired with the Argentine peso.

In addition, Bit2Me plans to launch a 24-hour customer support service and a special educational website that will help users understand blockchain, cryptocurrency trading and finance.

Recall that in 2022, Bit2Me announced the acquisition of 100% shares in Dekalabs, a Spanish developer of reference software for blockchain, cryptocurrencies and Web3.

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Worldcoin has grown by 50+% due to global expansion

The price of Worldcoin (WLD) has increased by 50+% over the past week. This growth is the result of a general upswing in the market and aggressive global expansion of the project. This month alone, he has included more than 40 countries in his network

Due to the general optimism in the market and World's plans to further expand to other countries, the price of Worldcoin may continue to rise in the near future.

World Expansion increases demand for WLD

World is a digital identification project co—founded by Sam Altman from OpenAI. The project uses iris scanning technology. It is expanding its global presence, launching this November in more than 40 countries, including Costa Rica, Poland and Austria. Such rapid expansion has attracted significant attention to the WLD token, contributing to an increase in its price.

The price of Worldcoin has increased by 27% in the last 24 hours, to the highest values since July. The metric of the number of active addresses per day (DAA) reflects significant demand for the asset. At the moment, its value is 137.92%.

This indicator tracks whether the current activity on the network supports the movement of the asset price. Positive values during price growth are a bullish signal that indicates a strong internal impulse. This means that online activity supports the growth of the coin's value. With the participation of more people, the demand for an asset increases, which in turn raises its price.

Moreover, the market sentiment towards WLD is bullish right now. According to Santiment, the weighted value of the indicator is 0.64 at the time of writing. The metric tracks the overall market-to-asset ratio. When it is above zero, discussions on social media are mostly positive. This suggests that market participants expect further price increases.

Growth to a 6-month high is possible

At the time of writing, WLD is trading just above the $2.44 resistance level. Chaikin's growing money flow indicator Chaikin Money Flow (CMF) now stands at 0.22, confirming the high demand for the token.

This metric measures the movements of cash flows entering and exiting an asset. Positive values indicate that buyers are investing capital to maintain price growth. Meanwhile, negative indicators indicate that the initiative is on the side of sellers, and liquidity is leaving the asset.

If the demand for purchase persists, the $2.44 resistance level may turn into a base. This will create conditions for growth to $3.61. Overcoming this mark will send the price to a six-month high of $5.40.

On the other hand, if demand falls and investor sentiment changes to pessimistic, the forecast will be incorrect. In this case, the WLD may fall below $2.44 and try to stabilize around $1.34.

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Why did the price of Ripple (XRP) soar to an 8-month high above $0.7?

The bull market triggered and supported by Donald Trump's victory in the US presidential election on the 24th last week does not seem to have affected Ripple's own token, at least until this morning.

Over the past week, XRP has managed to grow in price a little, but this is nothing compared to the sharp rise in prices for bitcoin, Cardano, Dogecoin, Shiba Inu and many other cryptocurrencies

The situation with XRP, which this week gave way to DOGE in the top 10 digital assets by market capitalization, has changed today: it has significantly increased in price from $ 0.6 to $0.741 (on Bitstamp). This is the highest price that the cryptocurrency has reached in the last eight months.

The crypto community was delighted with the rise in the exchange rate, which many expected, and began posting festive tweets with even more impressive forecasts.

The reasons for this jump may be different. On the one hand, XRP may have just been late to the party hosted by Trump and joined it a week late. This seems to be a fairly simple explanation, since the company has not made any statements about it.

However, this may also be due to some speculative rumors circulating around X. One popular author covering financial markets recently wrote that Ripple CEO Brad Garlinghouse followed the lead of Charles Hoskinson of Cardano and actually met with Trump or someone from his future administration to discuss a potential regulatory framework for cryptocurrencies.

Although there was no official statement from Garlinghouse, the author — Zach Rector — posted a tweet in which he indicated that the CEO of Ripple liked his initial publication, which, in his opinion, is sufficient confirmation

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A Chinese citizen confessed to laundering $73 million through cryptocurrencies

Daren Li, a 41-year-old Chinese citizen, pleaded guilty to conspiracy to launder $73 million received from victims of cryptocurrency fraud. The money was converted into USDT stablecoins.

Attorney General Nicole Argentieri said that Daren Li, who has dual citizenship in China, as well as in Saint Kitts and Nevis, used a network of shell companies. Lee acted with accomplices, corresponding with them through encrypted messaging services. In order to hide the sources of funds, Lee instructed accomplices to open accounts in US banks created on behalf of fictitious organizations and track international bank transfers with funds that came to these companies from deceived victims. This illegally obtained money was converted into USDT stablecoins, and then distributed to the cryptocurrency addresses of Lee and his accomplices.

Despite the fact that Lee was outside the United States, this did not prevent law enforcement agencies from bringing him to justice, the prosecutor noted. The man was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. The court is to sentence the offender on March 3, 2025. He faces a maximum sentence of 20 years in prison.

"We are cooperating with foreign law enforcement agencies to bring to law the crypto fraudsters who violate the rights of Americans, wherever the criminals are. In turn, investors should be skeptical of questionable investments and offers of quick enrichment in order to avoid financial losses," the prosecutor said.

In October, a hacker from the US state of Indiana, who stole more than $37 million in cryptocurrencies from 600 clients, also pleaded guilty to fraud and money laundering. Earlier, the organizer of the Forcount crypto scheme, who stole $8.4 million from Spanish-speaking investors, confessed to fraud.

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PayPal USD starts using LayerZero to enable transfers between Ethereum and Solana

US dollar-linked stablecoin PayPal is now using LayerZero to facilitate transfers between Ethereum and Solana

“The integration eliminates liquidity fragmentation and provides fast, secure and cost-effective transactions for users and businesses alike,” the statement said.

Ethereum's market capitalization has remained relatively flat at around $350 million in recent months, according to PYUSD that Ethereum's market capitalization has remained relatively flat at around $350 million in recent months, according to The Block Data Dashboard. However, according to Dune Analytics, the stackcoin's supply on Solana has shrunk from more than $660 million in August to $186 million.

“We believe PYUSD holders will welcome the flexibility and convenience that LayerZero offers,” said Jose Fernandez da Ponte, PayPal's senior vice president of blockchain, cryptocurrencies and digital currencies, according to a statement released Tuesday.

The statement also said that LayerZero's Omnichain Fungible Token, or OFT, is what now makes transfers between Ethereum and Solana possible. “The OFT stan dart opens up a new level of interoperability for stablecoins,” added LayerZero Labs CEO Brian Pellegrino. “With the power of LayerZero, PYUSD can move seamlessly between Ethereum and Solana, helping holders move their tokens between blockchains to use them the way they want, when they want.”

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Leading analyst says Dogecoin's upward price channel could lift Doge to $18

Leading analyst Ali Martinez predicts Dogecoin could rise 4443% to $18, citing an ascending price channel amid the ongoing hype surrounding DOGE.

Dogecoin (DOGE) continues to attract significant attention as the bullish growth in the cryptocurrency market continues with no signs of slowing down. Dogecoin is up 53% today alone, rising from a low of $0.2846 to a high of $0.4359.

Notably, the king of memes was last seen at these price levels during the previous bull run in 2021.

Just nine days ago, Dogecoin was trading at just $0.1428. Since then, it has risen 205% in less than two weeks. On a monthly timeframe, DOGE is up 330%, rising from $0.1015.

Amid this unexpected turnaround, analysts are claiming that DOGE still has significant upside potential from the recent price action. One such analyst is renowned expert Ali Martinez.

Dogecoin still has the potential to grow by 4443%

In a post on X today, Martinez emphasized that Dogecoin is currently trading in an upward price channel. This channel has two key boundaries: the middle and upper boundary, which can act as resistance levels as the price moves upward.

Martinez noted that if Dogecoin's price tests the middle boundary, it could reach around $2.40. However, if the price rises even higher to the upper boundary of the channel, it could theoretically reach $18.

From Dogecoin's current price of $0.3962, the meme coin would need to rise 506% to reach the lower boundary of this target. However, if the upper bound is taken, it would mean a growth of 4443% from the current value.

Ambitious targets for Dogecoin

This latest bold target from Martinez builds on his earlier analysis where he proposed an even more aggressive upper target for Dogecoin using Fibonacci levels of historical trends.

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3 altcoins to watch out for

November met the expectations of crypto-enthusiasts. Since the beginning of the month, many assets, including bitcoin (BTC), have already managed to renew their highs. But there are still a few altcoins that have records just ahead of them

Here's a look at which altcoins are worth watching during the second week of November.

Aptos (APT)

Opening our list is the altcoin APT. It has gained nearly 40% over the past week and is trading at $11.56 at the time of publication.

The next important step for Aptos is to consolidate above $11.64, which coincides with the 61.8% Fibonacci retracement level. This will strengthen the bullish momentum and attract investors' attention.

dYdX (DYDX).

Another altcoin worthy of note is dYdX. At the time of writing, the token is trading at $1.23. Over the past 24 hours, the asset's exchange rate has slipped slightly by 1.6%. Meanwhile, on a weekly basis, dYdX has soared more than 35%.

In the long term, the cryptocurrency is still moving within the range established in August. A full-fledged bullish trend requires a breakout above the upper boundary of the channel at $1.33. That is why investors are closely watching this price level.

Artificial Superintelligence Alliance (FET)

Rounding out our top 3 is the AI token FET. Over the past seven days, its rate has soared by 32%, bringing the altcoin to the $1.50 mark, where it sits at the time of writing.

On the wave of growth, the cryptocurrency rose above the critical $1.40 level. Now the next significant mark will be the resistance at $1.71. If this barrier is successfully broken, FET will be able to get to $2.00, which will confirm a strong bullish outlook.

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The market has liquidated about $660 million in the last 24 hours

In the last 24 hours, the volume of liquidations on centralized crypto exchanges reached $659 million, and affected 200.72 thousand traders. The leader in terms of the amount of closed positions was Binance with $265 million (40.21% of the total volume), which once again emphasizes the dominant influence of this platform on the cryptocurrency market. OKX and Bybit also performed strongly with $178 million (27.01%) and $132 million (20.03%) respectively.

Liquidations on HTX totaled $66.7 million, giving the exchange 10.12% of the total. CoinEx and Bitfinex recorded much smaller amounts - $12.9 million and $3.2 million, taking up 1.96% and 0.49% of the share, respectively. The main liquidated assets were Bitcoin ($166 million), Ethereum ($96.9 million), Dogecoin ($69.8 million) and Solana ($29.3 million).

Analysts point out that such a large volume of liquidations is due to the current market uncertainty and sharp price movements. Bitcoin, for example, continues to be in the spotlight, with its liquidations dominating the overall pattern. Ethereum and Dogecoin also account for a significant share, indicating traders' preference to use them in risky, highly leveraged strategies.

Many experts warn that such a strategy becomes extremely dangerous against the background of market volatility and growth of BTC quotes. Risk management and careful analysis of market movements are becoming essential tools for traders. Such spikes in liquidations have happened before and serve as a reminder that the market can move unpredictably.

Liquidations are mostly related to long positions and not only cause financial losses to traders, but also create cascading effects in the market, amplifying price fluctuations. Thus, momentum remains an important indicator to track the state of the cryptocurrency market and potential changes in the near future.

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