#Solana based apps notched record fees and revenue activity in the last 24 hours amid an apparent return of memecoin mania.
Solana-based automatic market maker @Raydium notched a record $11.31 million in fees on Nov. 17, while the liquid staking protocol @Jito saw its third-highest day of fees at $9.87 million on the same day, per @DefiLlama
Meanwhile, the memecoin launchpad pump.fun saw its seventh-highest day of earnings, netting $1.65 million in fees.
A memecoin based on a squirrel called Peanut ( $PNUT ) rallied over 2,700% in the last fortnight to reach a peak value of $2.4 billion on Nov. 14, as Elon Musk shilled the token several times on X alongside the launch of the Department of Government Efficiency.
The record fees for several Solana protocols come amid a frenzy of speculation on memecoins and a major price move for the native Solana token.
$XRP Jumps 17% Outperforms Rest of the Market as Rally Cools #Bitcoin fell to $88,000 from a peak of $93,000 leading to $120 million in liquidations.
#XRP zoomed 17% in the past 24 hours to beat gains in Bitcoin $BTC and majors, as shifting U.S. regulatory climate supported growth in tokens previously hampered by the Securities and Exchange Commission’s (SEC) actions.
$XRP price surged over 20%, reaching $0.83, amid increased trading volume and bullish sentiment.
Ripple wins favorable court ruling as Judge grants judgment and stay on class claims, boosting optimism for XRP.
Memecoin $PEPE hits $10B market cap and claimed its spot in the Top 15 Coins by market cap!
$PEPE ALSO FLIPS $SUI IN MARKET CAP.
#PEPE has outperformed Dogecoin #DOGE in weekly gains after major crypto exchanges announced plans to list the token as meme coins continue to swell on a Republican victory and a broader market rally.
The announcement of Pepe’s listings sparked immediate market reactions. In just a few hours, the token’s market cap briefly surged past $10 billion, while Dogecoin’s sits at $56 billion.
Solana memecoin PNUT surpasses $1 Billion market cap in less than 2 weeks after its creation!
PNUT price surged 200% after Elon Musk referenced Peanut the Squirrel in a recent X post, sparking a rally for the #Solana memecoin and gaining investors attention.
🟢 $BTC price soared nearly 3% as of press time and is currently trading at $65,289. 🟢 This rising price action aligns with a staggering $365.57 million inflows in Bitcoin ETFs as of September 26.
Ethereum Price Today-
🟢 Simultaneously, $ETH price chart illustrated gains worth nearly 1.5% over the past day and is currently sitting at $2,635.
🟢 Ethereum’s market cap stood at $317.27 billion today. Notably, the coin rises despite $675.45K outflows in spot ETH ETFs as of September 26.
Solana Price Today-
🟢 The crypto $SOL witnessed a 4% increase in value from yesterday and is currently trading at $158.
🟢 The coin’s intraday low and high were recorded as $148.82 and $157.86, respectively.
🟢Notably, Solana’s market cap rested at $73 billion today.
The #crypto prices today have stirred speculations, reversing recent gains.
🟢 $BTC is back on the $56K level, $ETH below $2,400, but DOGS soars. 🟢 Altcoins mainly follow the broader market trend. 🟢 The global cryptocurrency market cap slipped nearly 0.5% to rest below the $2 trillion level today, raising investor concerns. 🟢 Meanwhile, ETH, $SOL and XRP mimicked a waning movement alongside the broader market trend.
DePIN protocols have garnered interest lately due to their potential to impact a wide range of industries, including the Internet, artificial intelligence (AI), energy, wireless communications, and more.
• Let's understand what is DePIN-
A DePIN is a decentralized application that uses tokens to incentivize people to crowdsource and build connected real-world physical infrastructure.
• DePIN can be used in different ways.
Globally empowering individuals, these networks enable collaborative efforts in building, maintaining, and operating community-owned physical infrastructure without relying on a single centralized entity.
• How Do DePINs Work? DePINs function through three key elements:
➤ Off-chain network mainly comprises its users and service providers ➤ The blockchain brings end users and service providers together. ➤ Protocol defines the key features of how a DePIN functions.
• Benefits of DePIN
The conceptual scope of DePIN is defined by shared characteristics:
👉🏻 Permissionless entry 👉🏻 Distributed infrastructure costs, and 👉🏻 Economies of scale
• DePIN Sectors
So you can have DePINs providing everything from mobility to energy, to connectivity, to storage services.
But are all DePINs equal?
Let's break it down further 👇🏻
• Physical Resource Networks vs Digital Resource Networks
PRNs 👉🏻 incentivize people to direct or deploy hardware to offer real-world, non-fungible goods and services.
DRNs 👉🏻 incentivize people to direct or deploy hardware to offer fungible, digital resources.
What Is a #bitcoin #etf and Why Does Everyone from BlackRock to Grayscale Want One? 🤔
Learn more about how It Works and how to Invest 👇🏻
1- A Bitcoin ETF creates a simple, legally compliant way to trade the price of Bitcoin , accessible on markets that investors are already familiar with.
2- What is an ETF?
#etf refers to the exchange-traded funds that are a collection of assets whose shares are traded on a stock market.
They blend the characteristics and potential benefits of mutual funds, stocks and bonds.
3- ETFs track BTC's value and trade on traditional stock exchanges rather than #crypto exchanges.
In addition, they allow investors to invest in Bitcoin without the inconvenience of using a cryptocurrency exchange while also giving price leverage.
4- The majority of Bitcoin ETFs employ futures to simulate the cryptocurrency's performance.
Futures allow investors to protect themselves against turbulent markets by ensuring that they can buy or sell a specific cryptocurrency at a particular price in the future.
5- An ETF monitors the price of an underlying asset or index.
For example, a Bitcoin ETF would function similarly, with the price of one share of the exchange-traded fund fluctuating in lockstep with the price of #BTC
6- Why the need for a Bitcoin ETF?
With a BitcoinETF investors need not worry about private keys, storage, or security.
They own shares in the ETF and can gain exposure to the cryptocurrency market without having to go through the hoops of purchasing and holding crypto.
Ferrari Now Accepts #crypto Payments With BitPay For Car Purchases.
Ferrari accelerates into the crypto world, allowing its customers to purchase luxury vehicles with cryptocurrencies.
According to a recent report, the company is now allowing customers in the United States to purchase their high-end vehicles using crypto like $BTC and $ETH
In addition, Ferrari plans to expand this payment option to European markets in the near future following strong demand from its clientele.
The options market is one of the fastest-growing sectors in the #cryptocurrency industry.
An option is a derivative, meaning it represents an underlying asset like $BTC or $ETH
With this, you can but you don't have to buy or sell the underlying asset. You can do so when the option expires at a set price at the expiration date, or you can do so before the expiration date.