The appeal of investors who accused Elon Musk of manipulating $DOGE has been withdrawn, ending the trial. Musk is no longer facing charges of rigging the cryptocurrency market.
Bitcoin will form a peak at the end of May 2025, which coincides with the forecasts of a recession in the United States. This opinion was presented by Copper, writes The Block.
Experts explained their position with data from various bull and bear cycles. They found that, on average, they last about 756 days. 554 days have passed since the bottom was formed, and there are still 202 days left until the peak, if the analogies remain correct.
Analysts noted that JPMorgan estimates the probability of a recession in the second half of 2025 at 45%.
Experts warned that Bitcoin has historically demonstrated stability during periods of economic downturn, but this time the market sentiment and investor behavior may be different.
In the near future, the positive dynamics of digital gold will continue, as indicated by technical indicators such as RSI, experts said.
Earlier, Bernstein urged investors to add crypto assets to their portfolios “as soon as possible.” They recommended buying a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK.
ELON MUSK TO LEAD DOGE — THE US DEPARTMENT OF GOVERNMENT EFFICIENCY
Billionaire Elon Musk and former US presidential candidate Vivek Ramaswamy will lead the new Department of Government Efficiency (DOGE) in the US government.
Its task will be to reform the government to reduce administrative costs and fight bureaucracy. DOGE will take an “entrepreneurial approach” and offer a fresh look at the work of the US government apparatus.
To do this, some government agencies will be abolished, while others will have their staff reduced. The necessary reforms were promised to be carried out by July 4, 2026 — the 250th anniversary of the Declaration of US Independence.
“Together, these two great Americans will pave the way for my administration to eliminate government bureaucracy, reduce unnecessary regulations, reduce wasteful spending, and restructure federal agencies,” Trump said.
Both DOGE executives have shown themselves to be anti-regulators. Ramaswamy has spoken out against the introduction of a CBDC and condemned the government for sanctioning crypto mixer Tornado Cash.
CHINESE OFFICIAL SOLD STATE SECRETS FOR CRYPTOCURRENCY
The official's position and place of work are not disclosed. According to the case materials, Wang Momou had been investing in various cryptocurrencies for a long time. However, he ultimately lost all of his digital assets and found himself in 'very difficult financial circumstances'.
Burdened by debt, Momou agreed to cooperate with certain 'foreign espionage agencies' and began providing them with 'paid information'. For sharing information about 'production tasks and scientific achievements of his department', he received rewards in cryptocurrency, according to the court's verdict.
In total, Momou received approximately 1 million yuan ($140,000) in digital assets for his services. The People's Court of China sentenced the former official to life imprisonment.
Earlier, the Ministry of Justice of Taiwan stated that the intelligence of the PRC used cryptocurrency to pay rewards to Taiwanese military personnel involved in a major espionage case.
TRUMP WILL HELP ETHEREUM LEAVE BITCOIN AS AN OUTSIDER
Raoul Pal said that with the new administration in the White House, Ethereum may become the main platform for traditional financial institutions (TradFi) planning to develop large services and applications — as Ethereum has established a reputation as a reliable blockchain:
"Trump's victory is an opportunity for Ethereum to leave the Bitcoin network far behind. It's enough for the regulatory environment in the American crypto industry to become more liberal than it is now."
Ethereum has the largest share of decentralized finance (DeFi) applications, and if Donald Trump fulfills his campaign promises regarding the development of the crypto market, the returns in the blockchain ecosystem will increase significantly, the businessman stated.
However, he acknowledged that Ethereum has serious competitors — the Solana and Sui blockchains, which are becoming increasingly popular among users and projects due to low transaction fees.
Previously, Raoul Pal urged investors to move away from cryptocurrencies like XRP and ADA and pay attention to new digital assets that may have much greater growth potential.
Unlocking (English: unlock) refers to the release of tokens that were previously frozen under the terms of investment rounds or other fundraising programs.
Aptos (APT)
Unlock Date: November 11 Number of unlocked tokens: 11.31 million Circulating supply: 519.93 million APT
Starknet (STRK) Unlock Date: November 15 Number of unlocked tokens: 64 million Circulating supply: 2.09 billion STRK
Arbitrum (ARB) Unlock Date: November 16 Number of unlocked tokens: 92.65 million Circulating supply: 3.97 billion ARB
WHAT HAPPENED IN THE CRYPTO MARKET WHILE EVERYONE WAS ASLEEP - REVIEW FROM NOVEMBER 11
The A16z team anticipates full legalization of tokens in the USA, movements of assets have been recorded again in Mt. Gox crypto wallets, and the fear and greed index reached a seven-month high amid the rise of Bitcoin - these and other cryptocurrency news of the morning of November 11 are in our review Behavior of cryptocurrencies - capitalization leaders
BITCOIN HOLDS ABOVE $76,000 Amid ANOTHER FED RATE CUT
On November 7, the US Federal Reserve lowered its key rate range by 25 basis points to 4.5-4.75% per annum. This is the second such move after a 0.5% cut in September.
The decision coincided with market expectations and the analyst consensus.
“The Committee is committed to achieving maximum employment and maintaining inflation at 2% over the long term. It assesses the risks to achieving these objectives to be in relative equilibrium. The economic environment remains uncertain, and the Committee is closely monitoring risks to both,” the press release said.
Amid the Fed's decision, the first cryptocurrency held its position above $76,000.
The Red Cross of Spain received $3 million from Binance to assist those affected by the floods in Valencia. This funding will provide support to thousands of people impacted by the disaster.
It is commendable to see such assistance from crypto companies!
User with the nickname zxgngl earned $11 million by betting on Trump's victory on the Polymarket platform 🫠
In the context of the recent elections, the platform attracted significant attention as a kind of indicator of public opinion, despite the fact that its activities are prohibited in the USA.
Polymarket users placed bets on election results and various actions or statements made by politicians: for example, in one of the polls, the probability that Trump would say the word "skibidi" reached 4%, and the betting volume grew to $290,000 — unfortunately, it did not come true.
TOP ALTCOINS WITH GROWTH POTENTIAL UP TO 100X AFTER ELECTIONS IN THE USA:
BLADE has analyzed over 500 tokens and highlighted several projects capable of showing a hundredfold increase. Its main focus is on meme coins and coins from the artificial intelligence segment.
The BUCKS project is inspired by an iconic cartoon character. At its peak, its market capitalization was $7 million, but by the time of this writing, it had dropped to $3 million. Nevertheless, the crypto trader believes that the meme coin has great potential for further growth.
WHAT IS HOLDING BACK THE RECOVERY OF CARDANO (ADA) PRICE?
The price of Cardano is under sustained pressure, and many technical indicators point to a strong bearish trend. The ADX indicator confirms the strengthening of the bearish trend recently, indicating the dominance of sellers in the Cardano market. The Ichimoku cloud and EMA lines also confirm this outlook. ADA is trading below key resistance levels, and a 'death cross' formation has recently appeared on the chart.
HOW HAMSTER KOMBAT’S RAPID GROWTH ENDED IN A MASS EXODUS OF 260 MILLION PLAYERS
Hamster Kombat, the once-famous Telegram game, seemed destined for blockchain gaming glory, amassing a staggering 300 million users within months of its March 2024 launch.
But the viral sensation’s active user base has surprisingly fallen by 86% to just 41 million by November 2024, marking one of the steepest declines in crypto gaming history.
The game’s token, HMSTR, has also fallen more than 76%, falling from a September high of $0.01004 to just $0.0024 as of November 5, casting doubt on the project’s sustainability.
Behind this outcome lies a series of interrelated failures: shipping delays, poor user experience, government criticism, and controversial player bans.
OPENSEA TO LAUNCH NEW PLATFORM NEXT MONTH, SAYS CEO
Fireproof token marketplace OpenSea is set to launch a new platform next month, according to its latest update on Monday, November 4.
OpenSea CEO Devin Finzer announced the launch timeline on X, saying the NFT platform has been reimagined with a new OpenSea built from the ground up.
The announcement comes just weeks after the NFT marketplace received a Wells Notice from the U.S. Securities and Exchange Commission. Speaking about what’s next for the platform, Finzer said:
“We’ve been quietly cooking at OpenSea. To truly innovate, sometimes you have to step back and rethink everything. So we’ve built a new OpenSea from the ground up. Set sail in December.”
ETHEREUM PRICE TO REPEAT 2016 PATTERN AND RALLY 2,738%
Ethereum price is stuck in a consolidation phase, trading between $2,700 and $2,340 with no clear signs of a breakout. However, there are optimists Despite Ethereum’s recent dip below its uptrend line, the historical pattern suggests a future rally is possible. If ETH can hold key support levels, a bullish breakout could be in the offing.