Data: BTC drops below $93,000.
Mars Finance reports that OKX-BTC/USDT is currently quoted at $93,070.00, with a 24-hour decline of 4.75%.
The current total market capitalization of cryptocurrency is $3.378 trillion, with a 24H decline of 4.2%. Additionally, BTC's market share is 55%, while ETH's market share is 12.3%. According to Coinglass data, $552 million in liquidations occurred across the network in the past 24 hours, with long positions liquidating $409 million and short positions liquidating $142 million.
pump.fun: The live streaming feature on the website will be suspended indefinitely.
pump.fun issued an official announcement stating: 'Recent events during live streaming on the platform have raised concerns. We regret to hear about some users' experiences and take this opportunity to address these issues openly and directly... To ensure the absolute safety of users, we will suspend the live streaming feature on the website indefinitely until the audit infrastructure is ready to handle higher levels of activity. In the future, we will enhance transparency in the website usage rules and regulations by publishing guidelines. We will also provide creators and users with more visibility regarding individual review decisions to ensure everyone understands the process and outcomes.'
MicroStrategy increased its holdings by approximately 55,500 BTC for about $5.4 billion.
On November 25, MicroStrategy founder Michael Saylor posted on social media that MicroStrategy has increased its holdings of 55,500 Bitcoins at an average price of approximately $97,862, with a total value of about $5.4 billion.
As of November 24, 2024, MicroStrategy holds 386,700 Bitcoins, with a total purchase cost of approximately $21.9 billion and an average purchase price of about $56,761.
Wall Street is preparing to launch a new generation of cryptocurrency-related ETFs.
With pro-cryptocurrency Trump returning to the White House, Wall Street is preparing to launch a new generation of risk-oriented products to meet the tastes of various investors, ranging from institutional novices to stubborn retail participants in this $3.2 trillion industry. Executives and lawyers involved in ETFs describe the products as including both defensive ETFs aimed at professional fund managers curious about cryptocurrencies and fully speculative bets aimed at self-identified degenerate gamblers. Industry investors and lawyers suggest that higher-risk cryptocurrency ETFs may focus on various digital tokens and sometimes use leverage, options, or quantitative strategies.
The U.S. special prosecutor has dropped the case against Trump for election subversion.
According to CNN, U.S. special prosecutor Jack Smith announced on Monday that he would drop the election subversion case against elected President Trump and seek to dismiss the case in a court document submitted to the judge. Trump had stated that he would fire Smith once he took office, breaking with previous norms regarding special prosecutor investigations. Smith wrote in a six-page document: 'The position of the Justice Department is that, as required by the Constitution, this case needs to be dismissed before the defendant takes the oath of office.' Smith's criminal pursuit of Trump over the past two years, charged with attempting to subvert the 2020 presidential election and his mishandling of classified documents, marks a very unique chapter in U.S. history: never before has a former White House occupant faced federal criminal charges.
Market news: U.S. Customs and Border Protection detains certain imported Bitmain mining machines.
According to market news, The Mining Pod blog show revealed that the U.S. Customs and Border Protection (CBP) is detaining certain imported Bitmain Antminer machines at U.S. entry ports, specifically the Antminer S21 and T21 series, which are Bitmain's latest ASIC mining machine series. Sources say that the FCC and CBP did not target other ASIC manufacturers like MicroBT or Canaan. Apart from revealing that the FCC requested a freeze, U.S. Customs and Border Protection did not provide specific reasons for taking this action to the affected parties, nor did it indicate how long the goods would be detained.
Avalanche has launched the Avalanche9000 upgrade on the testnet and introduced a $40 million funding program.
The team behind the Layer 1 blockchain network Avalanche launched its major upgrade named 'Avalanche9000' on the testnet on Monday, which includes several technical improvements aimed at reducing blockchain deployment costs by 99.9%. These improvements include community proposal ACP-77 (making Avalanche Layer 1 validators more flexible) and ACP-125 (aimed at reducing Avalanche's base fees by 96%).
The press release states that Retro9000, a $40 million funding program to reward builders developing Layer 1 blockchain and other tools on the Avalanche9000 testnet, will be launched alongside this upgrade.
FLOKI: Valhalla mainnet release will be postponed to the first quarter of 2025.
FLOKI announced on platform X that, based on audit feedback, the release of the Valhalla mainnet will be postponed to the first quarter of 2025. Valhalla is Floki's flagship utility project and metaverse blockchain game, which took three years to develop. It is reported that to ensure the absolute security of assets and users in the Valhalla ecosystem, FLOKI commissioned two auditing firms, Hacken and OpenZeppelin, to review the Valhalla contracts before the mainnet launch. They recently made some recommendations that help further enhance the security of the platform and the safety of users and assets within the Valhalla ecosystem, and implementing and testing these changes will take at least a few weeks, hence the cautious decision to delay the mainnet release.
Wintermute analysts: Funds are moving from BTC to ETH, with a surge in derivatives market activity.
Wintermute analysts stated that funds are moving from BTC to ETH, with a surge in derivatives market activity. Over the weekend, Ethereum's open contracts surged, while implied volatility also rose, and demand for call options increased significantly, indicating growing confidence among derivatives traders.
Analysts say that the shift from Bitcoin to Ethereum is characterized by a sharp rise in implied volatility for Ethereum, with put-call skew reaching the highest level in 12 months, indicating a strong preference among investors for upside risk. According to Wintermute analysts, traders are actively pushing the market higher through upward buying. Wintermute analysts noted in their weekly cryptocurrency market update: 'In the past few trading days, capital has flowed into Ethereum as the open contracts on exchanges surged to historic highs over the weekend.'
Glassnode: Bitcoin long-term holder monthly sales reach the highest level since April.
Data tracked by Glassnode shows that recent Bitcoin long-term holders (LTH) have begun to sell off en masse, with monthly sales reaching the highest level since April 2024, totaling 366,000 BTC.
Data shows that in LTH, the group holding for 6 to 12 months is leading, with an average daily sale of 25,600 BTC, and most recent selling activity comes from this specific group of investors.
The publicly traded company Rumble plans to purchase Bitcoin with $20 million in cash reserves.
Mars Finance reports that Nasdaq-listed company Rumble, a video sharing and cloud services platform, announced plans to invest up to $20 million from its excess cash reserves into Bitcoin as part of its financial diversification strategy. The board has approved this plan to use Bitcoin as a strategic asset and inflation hedge. Rumble plans to integrate cryptocurrency into its ecosystem, supporting the company's mission to build independent infrastructure and promote an open internet. Bitcoin purchases will be decided by management based on market conditions, prices, and cash flow needs.
Tencent's Pervasive Dialogue with Ethereum's Vitalik: AI and Crypto enter a game of power, and the power game is unfolding.
This article explores the impact of artificial intelligence and cryptocurrency technology on the world, particularly from the perspective of Ethereum founder Vitalik Buterin. He believes that artificial intelligence possesses centralized and powerful traits that may affect human privacy and thought, while cryptocurrency technology advocates decentralization and equality. Buterin emphasizes that future technological development needs to find a balance between security and openness, and points out that decentralized artificial intelligence may be key to solving privacy issues. Additionally, he expressed concerns about the commercialization of OpenAI and believes that Crypto and AI each represent different philosophical ideas.
Binance lists WHY and CHEEMS, but the tokens plummet. Is BNB Chain about to make a move?
After Binance announced the listing of WHY and Cheems contracts, the prices of these two tokens fell sharply, attracting market attention. Nevertheless, the BNB Chain ecosystem is performing strongly, with the total locked value significantly increasing, attracting a large influx of funds, especially from Solana and Ethereum. The expansion of the BNB ecosystem is supported by Kraken exchange and the launch of Binance options contracts, further enhancing its international layout and market liquidity. With the rise of multiple emerging token projects, the future development potential of BNB Chain is immense.
This week's preview | Ethereum Layer 2 network Starknet launches STRK staking on the mainnet; HashKey platform coin HSK officially goes live.
South Korea plans to implement a 20% tax policy on cryptocurrency gains in early 2025, with the tax exemption threshold raised to 50 million won. Coinbase will terminate the 'direct deposit' feature and launch a new wallet integration. Multiple projects and tokens will undergo significant updates and unlocks between November 25 and 29, including Zircuit, SynFutures, Jupiter, Lista DAO, and others. Taiwan will implement the virtual asset service provider registration system in advance on November 30. Multiple exchanges and projects will also undergo significant adjustments and activities at the end of November.
The power games behind Tether: from the financial gray zone to allies in the White House.
Tether has become one of the leading cryptocurrency companies globally, with its stablecoin pegged to the U.S. dollar and widely used around the world. However, the company has faced scrutiny over its operational transparency and potential legal issues. Recently, Tether established a partnership with U.S. financial services firm Cantor Fitzgerald, with its CEO Howard Lutnick becoming an important ally of Tether. Lutnick has been nominated for Secretary of Commerce, raising concerns about conflict of interest, especially in the context of Tether facing U.S. government investigations.
