Binance Exchange customers could not withdraw XRP cryptocurrency

The Binance cryptocurrency exchange suspended the withdrawal of XRP (XRP) during the pump of the digital asset rate issued by Ripple.

On November 16, customers who tried to send XRP received a message that this service was temporarily down. The coin transfer function was disabled due to technical problems, and the XRP withdrawal option became available again after the problems were fixed.

this asset. The price of the cryptocurrency began to pump on November 15 at 11:00 Moscow time, and on Saturday at 18:00 its value reached its maximum value since November 2021 at $ 1.26.

During the bullish rally, the trading volume of XRP increased significantly, which could cause problems or activation of the security system, which disabled the function of sending coins, suspecting something was wrong.

Judging by the time of publication of the Binance user's message and the response to it by a representative of the exchange's technical support, it can be assumed that the clients of the trading platform could not withdraw XRP within one to two hours. However, despite the quick resolution of the problem, Binance was hit by a wave of criticism, and some owners of digital assets once again reminded everyone of the superiority of cold hardware crypto wallets compared to hot custodial crypto storages, which can be turned off at any moment.

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Gensler may resign from his post at the SEC before January

On November 15, Fox Business journalist Eleanor Terrett hinted that Gensler might announce his resignation shortly after Thanksgiving.

"When exactly he will announce his resignation is an open question, but in Washington circles they say it could happen after Thanksgiving, before Trump's inauguration," Terrett said.

Recent statements by Gensler himself add grounds for speculation. In his speech on November 14, he expressed pride in his work at the SEC, highlighting the agency's efforts to protect American investors. Gensler's speech also contained reflections on his tenure and what some perceived as a farewell message.

"I am proud to have worked with my colleagues at the SEC who protect American families in the financial market every day," Gensler wrote.

Gensler also noted that during his leadership, the SEC approved the first spot bitcoin ETFs. The SEC chairman called this event a significant step forward, pointing out that previous administrations had blocked such innovations.

However, his tenure was marked by intense criticism from the crypto sector. Tyler Winklevoss, Gemini's co-founder, accused Gensler of damaging the industry due to a harsh regulatory approach. Winklevoss argued that Gensler put personal ambitions above fair regulation, describing his actions as harmful and deliberate.

"No apology can undo the damage he has done to our industry and our country. Such people should not occupy places in either large or small institutions. Americans are tired of their tax dollars going to the government, which is supposed to protect them, but instead being used against them by politicians seeking to advance their careers," he said.

Under Gensler's leadership, the SEC has conducted a number of high-profile lawsuits against major crypto companies, including Binance, Coinbase and Ripple. Critics argue that such an active intervention strategy stifles innovation and creates a hostile relationship between regulators and the industry.

With rumors spreading about Gensler's possible resignation, more and more attention is being paid to his potential successor in the Trump administration. Possible candidates include Robinhood's chief lawyer Dan Gallagher, former SEC chief lawyer Bob Stebbins and current Republican SEC Commissioner Mark Ueda. Brad Bondi, Paul Atkins, Heath Tarbert and Norm Champ were also among the candidates.

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Analysts named 5 meme tokens in the accumulation phase

5 meme tokens were immediately in the accumulation phase. According to the DropsTab platform, FLOKI, BRETT, SLERF, FOXY and DUKO entered this phase. The main meaning of the stage is an active interest in assets, expressed in an increase in trading volume and stable price fluctuations in a limited range. This may indicate preparation for significant changes in the value of these assets in the future.

The first place in the list is occupied by FLOKI, whose fully diluted volume (FDV) is estimated at $2.36 billion. Despite such an impressive figure, the price of the token remains low, at $0.0002 since November 15, 2024. It is followed by BRETT, with an FDV of $1.76 billion and a value of $0.176, which has been in the accumulation phase since November 14.

SLERF, ranked 255th in the ranking of cryptocurrencies in terms of maximum capitalization, is trading at $0.435 and has an FDV of $219 million. This token entered the accumulation phase back in October, which makes it the most "old" member of the list. Next comes FOXY with an FDV of $171 million and a price of $0.017 from November 13. DUKO closes the top 5 - the most inexpensive meme token ($0.0016), whose accumulation began on November 14, while its FDV is $16.5 million.

This phase is usually characterized by increased activity when the trading volume increases significantly, but the price remains in a narrow range. This may indicate both the actions of trading bots and the accumulation of large investors. The meme cryptocurrency market is known for its volatility, and current activity may indicate potential price spikes if the accumulation phase ends with a quote growth stage.

In addition, it is especially difficult to analyze price changes due to unstable trading conditions. This requires a careful approach to valuation in order to correctly predict the price movement. Experts advise to monitor the increase in volumes and anomalies in the behavior of tokens, which may signal an imminent change in market sentiment.

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A week in the memcoin world: ACT and PNUT staged a rally

The past seven days have been exciting for the crypto market, as bitcoin continued to upgrade ATH despite the exhaustion of bullish momentum. The fading momentum did not affect memcoins: the scale of their rally reached 3,000%

The editorial board of BeInCrypto analyzed three memcoins, which grew significantly and at the same time updated historical highs.

Act I: The AI Prophecy (ACT)

The ACT cryptocurrency has become the most popular meme coin this week thanks to its recent listing on the Binance exchange. This event triggered an unprecedented 3,000% rally in seven days.

Currently, the ACT has rolled back from the recently reached new historical high of $0.95. Altcoin has formed a strong support level at $0.60. This signals potential stability against the background of continued momentum, if favorable market conditions persist.

However, the ACT rally caused by the HYPE makes it vulnerable to correction. If investors prefer to lock in profits, the coin may lose support at $0.60 and drop to $0.44. This will cast doubt on recent achievements and raise concerns about sustainable growth.

Peanut the Squirrel (PNUT)

PNUT has become one of the most dynamically developing memcoins, soaring by an impressive 1,579% over the past week. Thanks to this rally, the coin entered the top hundred cryptocurrencies and attracted significant attention from investors and analysts.

PNUT has set several historical highs this week, the last of which was recorded at $2.50. If the bullish momentum continues, the token could continue to climb, potentially establishing new ATH and further strengthening its position in the market.

However, if PNUT loses the critical support level of $1.69, it can expect a significant correction. It may lead to a decrease in the price to $ 0.44, which will cancel the current "bullish" forecasts.

Department Of Government Efficiency [DOGE(GOV)]

Over the past week, the price of DOGE(GOV) has increased by 244% and reached a historic high of $0.545. After a slight correction, investor sentiment shows mixed signals regarding the short-term price trajectory.

Altcoin maintains support at $0.161, providing insurance against a possible profit-taking. However, if the selling pressure increases, DOGE(GOV) could drop sharply, potentially to $0.049. Such a drop would negate most of the recent gains and strengthen the bearish momentum.

On the other hand, if DOGE(GOV) holds above the $0.161 support level, it will be able to restore upward momentum. Successful consolidation at this level may allow memcoin to return to the historical maximum of $0.545. This will refute the bearish forecasts and open the way for further growth.

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Altcoin season index falls as bitcoin share rises

The altcoin season index (ASI) has fallen to 35. This indicates that bitcoin's market performance is improving compared to the rest of the cryptocurrencies.

The ASI index, which is tracked by CoinMarketCap, measures the performance of the 100 largest cryptocurrencies (excluding stablecoins and wrapped tokens) over the past 90 days. Altcoin season occurs when at least 75% of these assets outperform bitcoin. Conversely, bitcoin season should be expected when less than 25% of altcoins outperform the flagship cryptocurrency.

The day before, the altcoin season index stood at 36, up from 34 a week earlier. The index remained at 23 in October. The year-to-date high of 50 was recorded on April 9 and reflected a balanced market. The low of 13 occurred on September 3 and demonstrated bitcoin's strength.

Despite the fact that the current ASI is at 35, investor interest in altcoins is growing. The aggregate market capitalization of that asset category has also remained relatively stable. Over the past 90 days, it has been at the level of $900 billion. According to experts, the discrepancy between the altcoin season index and their market capitalization most likely speaks to the mood of investors and their trading activity.

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GOAT hits all-time high: what's next

The price of Goatseus Maximus (GOAT) recently hit a new record high. This rise was accompanied by strong readings from technical indicators that portended a continuation of the uptrend.

However, some signs suggest that GOAT's rise may be slowing down.

GOAT's trend has started to weaken

GOAT's current ADX is 27.63, down from 36 last week. This indicator measures the strength of the trend: it ranges from 0 to 100, where values above 25 indicate a strong trend and below 20 indicate no trend.

The GOAT ADX of 27.63 indicates that the uptrend is still active, although not as strong as before.

Goatseus Maximus is approaching the overbought zone

The GOAT's current relative strength index (RSI) stands at 67.63. It jumped from 50 in just a few hours: while this sharp rise indicates strong buying interest, it also brings the memcoin closer to overbought levels.

The Relative Strength Index ranges from 0 to 100, where values above 70 indicate overbought and below 30 indicates oversold. GOAT's current RSI indicates that the asset is overheated.

GOAT Price Forecast: possible correction of 39%

Even though GOAT is approaching the overbought zone, its EMA lines still look very optimistic. The price of the memcoin is above all EMAs, with the short-term lines located above the long-term lines. This placement indicates strong upward momentum and confirms a healthy bullish trend.

However, if investors start actively taking profits, the price of Goatseus Maximus could pullback to the nearest support at $0.76. If it fails to hold, the memcoin is waiting for a more serious fall to $0.69, which means a possible 39% correction.

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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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Ethena accepts the offer to split the commissions for the ENA token

According to the Wintermute management forum, the Ethena Foundation has approved Wintermute's proposal to share part of the revenue of the Decentralized Finance Protocol (DeFi) with token holders.

On November 6, Wintermute, a cryptocurrency market maker, offered to allocate a portion of Ethena's revenue from commissions to the stake holders of its own Ethena token (ENA).

"The Ethena Foundation is pleased to announce that the proposal to enable the switching of ENA commissions has been approved by the Risk Committee," the management forum said in a statement on November 15.

"The Fund will work with the Risk Committee to crystallize the parameters for activating commission switching by November 30, followed by precise implementation mechanisms."

In February, Ethena Labs launched a profitable stablecoin called USDe, which users can issue using tokens including Bitcoin (BTC), Ethereum (ETH), liquid stacking derivatives and other stablecoins.

Ethena then hedges the inherent volatility of the portfolio using off-chain financial derivatives.

According to CoinMarketCap, USDe's working capital has grown to almost $3.2 billion since the issuer Ethena Labs launched a unique stablecoin in February.

Launched in April, the Ethena platform's own token (ENA) can be placed in a stack to receive sENA, which, before Wintermute's management proposal, did not have a clear mechanism for accumulating value.

"The Ethena protocol has generated and continues to generate substantial amounts of real revenue, which indicates a clear level of product compliance with the market for USDe," says the management proposal from Wintermute.

"Unfortunately, sENA does not directly benefit from this revenue, which leads to a clear gap between sENA holders and the growth of the protocol," the proposal added.

"It's time to recognize this and pay attention to establishing a clear correspondence between ENA holders and the basic principles of the protocol."

On October 25, Wintermute began accepting USDe as collateral for spot transactions with cryptocurrency and derivatives.

"Wintermute customers can now place USDe as collateral for options, credit default swaps, forward and spot trades," the company said in a post on the X platform.

The Ethena USD (USDE) stablecoin joins Wintermute's existing list of accepted cryptocurrencies, which includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and USD Coin (USDC), Wintermute said.

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DOGE, LTC and XRP: what did the whales buy this week

In the second week of November, major market players actively invested in several altcoins. We tell you which coins the whales noticed.

Investors are closely monitoring the actions of cryptocurrency whales, as they can greatly affect prices. This time, Dogecoin (DOGE), Litecoin (LTC) and Ripple (XRP) were targeted.

Dogecoin (DOGE)

The interest of cryptocurrencies in Dogecoin may be related to the approval of the Department of Public Administration Efficiency proposed by Elon Musk for the new US administration.

On November 8, the net inflow of large holders showed a negative value, indicating a predominance of sales. However, at the time of writing, the figure has increased to 1.72 billion DOGE. This means that the whales bought tokens worth about $636 million.

The accumulation has significantly affected the value of the coin: over the past seven days, the price of DOGE has soared by 85%. If the whales continue to buy, Dogecoin could break above $0.37 next week. Otherwise, the cryptocurrency will continue to trade in the range.

Litecoin (LTC)

On November 11, addresses holding between 1 million and 10 million LTC held 6.33 million coins. At the time of writing, their balance has grown to 7.57 million: this means that the whales have bought tokens worth about $106 million.

As in the case of DOGE, such a large-scale accumulation has significantly affected the price of the altcoin. Over the past seven days, the Litecoin exchange rate has increased by 20%, rising above $85.87. If the whales continue to build up the balance, LTC could approach $100.

Ripple (XRP)

Cryptocurrencies have also been actively buying Ripple this week. This could be due to the debut of the token on Robinhood and rumors about the possible resignation of SEC Chairman Gary Gensler.

So, on November 12, addresses with a balance of 1 million to 10 million XRP held 3.82 billion coins, and wallets with a balance of 10 million to 100 million held about 6.79 billion. At the time of writing, these figures have increased to 3.97 billion and 6.95 billion, respectively. This means that cryptocurrencies have acquired a total of 310 million tokens worth about $267 million.

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The revenue of the manufacturer of Bitcoin Depot cryptomats fell by 25%

The American manufacturer of cryptocurrency ATMs Bitcoin Depot has published financial results for the third quarter of 2024. According to the report, the company's revenue amounted to $135.3 million, which is 25% less compared to the same period in 2023, when this figure exceeded $179.5 million.

The company also holds cryptocurrency reserves worth more than $1.31 million.

During the third quarter, we made significant progress in expanding our network of Bitcoin ATMs, while simultaneously working to optimize existing devices to increase their profitability. We ended the quarter with 8,300 ATMs, exceeding our goals and reflecting our vision of increasing the availability of bitcoin," said Brandon Mintz, CEO and founder of Bitcoin Depot.

According to data from the company's official website, Bitcoin Depot serves about 16,700 cryptocurrency ATMs worldwide. Most of the devices are located in the USA, Canada and Australia.

In August 2022, Bitcoin Depot went public with an estimated value of $885 million. Shares of the manufacturer of cryptocurrency ATMs are traded on the NASDAQ American stock Exchange under the ticker BTM and are valued at $1.99. Currently, the market capitalization of Bitcoin Depot is approximately $118.2 million.

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Bitcoin ETFs are gaining popularity with the support of the SEC and CFTC

The U.S. Securities and Exchange Commission (SEC) has approved the listing of the environmentally oriented bitcoin ETF 7RCC on the NYSE Arca exchange.

This step occurred simultaneously with the approval of bitcoin options by the Commodity Futures Trading Commission (CFTC).

Bitcoin ETFs are Becoming more Popular
On November 15, the SEC approved a rule change that allows 7RCC to trade its ETFs for bitcoin and carbon credit futures. This decision comes almost a year after 7RCC filed its application in December 2023. The application went through four corrections in the review process that began in March.

The fund plans to invest 80% of its assets in bitcoin and 20% in financial instruments related to carbon credit futures. These futures will be based on indices related to environmental initiatives, including the European Union's Emissions Trading System, the California Carbon Quota and the Greenhouse Gas Initiative.

"The Fund will gain access to carbon credit futures by investing directly only in such contracts. The fund does not plan to invest in carbon credit futures specifically related to bitcoin mining or other related processes," the SEC wrote in its message.

Carbon credit futures help control regulatory risks and promote environmentally responsible investments. 7RCC announced that Gemini crypto exchange will act as a custodian.

The SEC approval came at the same time as the statement by the CFTC's Clearing and Risk Division. The regulator announced that it will no longer control clearing for bitcoin ETF options on the spot market. This function is now performed by the Options Clearing Corporation (OCC), which handles all stock options and their calculations.

The CFTC's decision significantly advances the launch of Bitcoin ETF options. Analysts consider it a key step.

"The CFTC has just issued a notice that opens the way for listing options on bitcoin ETFs. This is the second hurdle that had to be overcome after the SEC. Now the ball is on the OCC's side and they are interested, so they will probably start listing soon," Bloomberg ETF analyst Eric Balchunas said in a statement.

The approval of the 7RCC Bitcoin ETF and the CFTC's moves highlight the growing regulatory support for innovative financial instruments. These developments pave the way for expanding investment opportunities in both the cryptocurrency and traditional markets.

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Net outflow from spot ETFs based on bitcoin and Ethereum amounted to $430 mln

-- On Nov. 15, investment products based on the first cryptocurrency lost more than $370 million.
-- The segment of spot Ethereum-ETFs lost $59.9 million over the past day.
-- The crypto fund from Fidelity was the outflow leader with $175.1 million.

On November 15, 2024, U.S. bitcoin and Ethereum-based cryptocurrency funds recorded net outflows of $430 million, according to SoSo Value. Most of the withdrawals - $370.1 million - came from spot bitcoin-ETFs.

The leader in terms of lost capital was an exchange-traded fund from Fidelity Investments. The investment product under the ticker FBTC lost $175.1 million. The amount of funds under management (AUM) of the fund is $17.37 billion.

In second place in terms of withdrawn capital is the spot bitcoin-ETF from Ark Invest and 21Shares - ARKB. This exchange-traded product has lost $108.6 million over the past day. As for the AUM indicator, it is $4.25 billion for the mentioned product.

On the third position was a cryptocurrency fund from Grayscale Investments. According to the statistics, the investment product under the ticker BTC lost $47 million. Under its management there are assets for $3.28 billion.

In addition, the crypto funds of the following companies also lost money during the past trading day:

-- Grayscale (GBTC) - $22.5 million;
-- VanEck (HODL) - $7.7 million;
-- Bitwise Asset Management (BITB) - $7.4 million;
-- Valkyrie (BRRR) - $1.7 million.

The remaining four investment products ended the previous day with zero inflows/outflows.

The spot Ethereum-ETF segment lost $59.9 million during the same period. Here, the leader in terms of withdrawn capital was the fund from Grayscale. The product under the ticker ETHE lost $40.3 mln.

In second place in terms of lost funds was the spot Ethereum-ETF from Fidelity. The crypto fund under the ticker FETH recorded a withdrawal of $18.4 million. The top three is followed by the product from VanEck (ETHV) with an indicator of $1.1 million.

At the same time, five spot Ethereum-ETFs ended the last trading day without any movement of funds. The data on the cryptocurrency fund from BlackRock in this asset class was not updated, noted in SoSo Value.

Recall, we wrote that the U.S. Securities and Exchange Commission again postponed the decision on options on spot Ethereum-ETF.

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AI tokens that distinguished themselves this week

In recent days, the crypto market has shown some cooling. Nevertheless, some assets related to artificial intelligence (AI) still managed to increase in value.

Among the leaders were AI tokens AIOZ, RENDER and NEAR. Let's find out what to expect from these altcoins next.

AIOZ Network (AIOZ)

AIOZ is the native token of AIOZ Network, a decentralized platform that uses a global network of nodes to distribute content. Over the past week, the asset's price has risen 45.63%.

Render (RENDER)

The price of leading AI token RENDER has risen 34% over the past seven days. During this period, the asset hit a five-month high of $7.20. At the time of writing, it is trading at $6.69 and is still in an uptrend.

Near Protocol (NEAR)

At the time of writing, NEAR is trading around $5.52: it has recorded a 31% gain for the week. The Elder-Ray Index at 1.07 confirms that the bulls continue to control the market.

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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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