NIGERIAN COURT FINE TWO CRYPTO FIRMS OVER ILLEGAL USDT TO NAIRA TRANSACTION

Two Nigerian cryptocurrency firms, Paparaxy Global Ventures Limited and Lemskin Technologies Limited, have been fined by a Nigerian court for conducting unauthorized USDT-Naira transactions. The firms were accused of operating without proper licensing and engaging in unlicensed financial operations, violating the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act .

As part of a plea bargain agreement, Paparaxy refunded ₦140 million to the Federal Government, while Lemskin -ran ₦20 million. The directors of the two companies were also required to swear an affidavit of good behavior before the court .

This development is part of a broader crackdown on unlicensed cryptocurrency trading in Nigeria.

In September 2024, the Economic and Financial Crimes Commission (EFCC) secured a court order to freeze ₦548.6 million held in accounts of individuals and businesses suspected of engaging in unauthorized foreign exchange transactions on platforms such as ByBit and KuCoin .

The Nigerian government's actions demonstrate its commitment to regulating the cryptocurrency space and preventing illegal activities.

The country's financial authorities are working to ensure that cryptocurrency transactions are conducted within the bounds of the law.

BINANCE INVESTS IN BIO PROTOCOL FOR BIOTECHNOLOGY

Binance Labs has made a significant investment in BIO Protocol, a groundbreaking project that harnesses blockchain technology to revolutionize the financing and commercialization of early-stage scientific research, particularly in the biotechnology sector .

This strategic move marks Binance Labs' first foray into the Decentralized Science (DeSci) sector, demonstrating their commitment to supporting cutting-edge innovations .

BIO Protocol leverages DAO to raise funds, utilizing proceeds from token sales to back relevant biotechnology projects, facilitating the sharing of intellectual property .

During its initial token generation event (TGE), BIO raised an impressive $6.2 million through a public sale, with participation from prominent venture capital firms such as Zee Prime and 1kx .

This investment is a testament to Binance Labs' focus on empowering innovative projects that converge technology and biotechnology. By supporting BIO Protocol, Binance Labs aims to accelerate the growth of the DeSci ecosystem and unlock new possibilities for scientific research and discovery .#BinanceSquareFamily

THIS IS HOW MUCH CRYPTO THE ETHEREUM FOUNDATION HOLDS

The Ethereum Foundation holds a staggering $970.2 million in assets, with a whopping $788.7 million of that being in cryptocurrency, specifically Ether (ETH) .

This represents nearly 99% of their crypto holdings, showcasing their strong commitment to the Ethereum ecosystem .

Breakdown of Ethereum Foundation's Holdings:
Ether (ETH): $788.7 million (99% of crypto holdings)

Non-crypto investments: $300 million

Other cryptocurrencies: $11 million

It's worth noting that the foundation's Ethereum holdings amount to nearly 0.3% of the entire ETH supply .

The Ethereum Foundation uses its assets to support various projects, including those focused on core infrastructure development, decentralization, Layer 2 scaling solutions, and advancements in programmatic cryptography .

JUST IN ! BINANCE ANNOUNCES IT WILL LIST THREE NEW ALTCOINS!

Binance has recently announced the listing of several new altcoins on its platform. Here are some of the latest additions:

Socrates (SOC): With a 421.83% increase in the last 24 hours, Socrates is one of the top-performing new altcoins on Binance .

Ducky (DUCKY): Ducky has seen a 9.05% increase in the last 24 hours and is now available for trading on Binance .

Strategic Bitcoin Reserve (SBR): This altcoin has experienced a 30.43% increase in the last 24 hours and is now listed on Binance .

UNIT0 (UNIT0): With a 2.41% increase in the last 24 hours, UNIT0 is another new altcoin added to Binance's platform .

Credbull (CBL): Credbull has seen a 21.17% increase in the last 24 hours and is now available for trading on Binance .

GicSportsNetwork (GIC): This altcoin has experienced a 6.09% increase in the last 24 hours and is now listed on binance

ARE TONCOIN(TON) AND SHIBA INU (SHIB) GOOD INVESTMENTS?

Toncoin (TON) and Shiba Inu (SHIB) are both popular cryptocurrencies, but their investment potential is uncertain. Toncoin, launched in 2018 by Telegram, has a market capitalization of $12.80 billion and spiked in price after Telegram announced integrating a TON-based wallet into its platform .

Shiba Inu, created in 2020, is an Ethereum-based memecoin with a market capitalization of $11.10 billion .

Before investing, consider the following:

Market Volatility: Cryptocurrency markets are known for their unpredictability, making investing risky.

Competition: With thousands of altcoins available, competition for adoption and market share is fierce.

Regulatory Environment: Government regulations can significantly impact cryptocurrency prices.

To make an informed decision, research both coins':

Technology and Use Cases: Understand their purpose, features, and potential applications.

Community and Support: Look into developer activity, user adoption, and community engagement.

Price History and Trends: Analyze past performance, but remember that past success doesn't guarantee future gains.

WILL BITCOIN EXPERIENCE A POST ELECTION DIP

Bitcoin's post-election dip is a topic of much debate. Historically, Bitcoin has experienced significant price movements after U.S. presidential elections, with returns diminishing slightly with each cycle .

In the 400 days following the past three elections, Bitcoin increased by approximately 4,268%. However, some analysts predict a potential dip due to various factors.

Possible Reasons for a Dip:

Post-Halving Behavior: Bitcoin's fourth halving, which occurred in 2024, typically leads to a price dip as miners sell their rewards, causing market instability .

Market Inertia: The current market inertia might drag on, causing a price drop over the next fortnight, corresponding to classic post-halving behavior .

Election-Related Volatility: The uncertainty surrounding the election outcome can lead to market volatility, potentially causing a dip.

But Wait, There's More!

Despite these potential factors, some experts believe Bitcoin remains in great shape with plenty of upside .

The network's resilience and maturity might limit the dip, as seen in the 2021 halving .

In conclusion, while there are valid reasons for a potential post-election dip, it's essential to consider the broader market context and historical trends.

TRADERS 'EXPECTS' CARDANO ADA PRICE TO RALLY 70%

Cardano's ADA price is expected to rally 70% due to its recent surge in momentum, driven by the launch of its Node 10.1 upgrade, which introduces enhanced governance and delegation features .

This upgrade is a significant step in Cardano's evolution, preparing the network for the upcoming Chang 2 hard fork.

Analyst ZAYK Charts predicts a 60-70% price increase, citing a breakout from a falling wedge pattern on the 1-day chart . The ADA price has already seen an impressive 5% increase within the past day, trading at approximately $0.3751, with a critical resistance level at $0.38 .

$Key Factors Contributing to ADA's Price Rally:

Node 10.1 Upgrade: Introduces new governance capabilities and prepares the network for the Chang 2 hard fork .

Technical Indicators: Breakout from a falling wedge pattern on the 1-day chart .

Increased Investor Interest: Growing optimism in the cryptocurrency market .

Bullish Momentum: MACD indicator shows a positive crossover, suggesting buying momentum .$ADA

U.S EYES BITCOIN RESERVES FOLLOWING TRUMP'S ELECTION WIN

Following Trump's election win, the U.S. is considering creating a strategic Bitcoin reserve. This move is largely driven by Trump's crypto-friendly policies and his pledge to make the U.S. the "crypto capital of the planet" . During the Bitcoin 2024 conference, Trump vowed to create a national reserve of Bitcoin, which would be a significant development for the cryptocurrency .

Historically, Bitcoin has performed well after U.S. presidential elections, with returns diminishing slightly with each cycle .

In the 400 days following the past three elections, Bitcoin increased by approximately 4,268% .

This trend, combined with the recent surge in crypto trading volumes, suggests a potential boost for Bitcoin and other cryptoassets in the months ahead .

Key Factors Contributing to Bitcoin's Potential Rally:

Trump's Crypto-Friendly Policies: Trump's pledge to make the U.S. the "crypto capital of the planet" and create a national reserve of Bitcoin

Historical Election Trends: Bitcoin's strong performance after U.S. presidential elections

Bitcoin Halving and Business Cycle Trough: The alignment of the election with Bitcoin's recent Halving and a potential U.S. economic recovery

WILL SOLANA HIT $210 BEFORE YEAR END?

Solana's price has been quite volatile lately, but experts are optimistic about its future performance. Currently trading at $186.66, Solana is expected to increase by 1.18% and reach $188.87 by November 8, 2024 .

While there's no guarantee it will hit $210 before year-end, the forecast looks promising.

Key Factors Influencing Solana's Price:

Bullish Market Sentiment: 90% of market analysts predict a bullish trend for Solana .

Moving Averages: The 50-day moving average is rising, suggesting a strengthening short-term trend .

Price Volatility: Solana's 7.22% price volatility indicates potential for significant price swings [1).

Price Predictions for 2024 and Beyond:

December 2024: $150.10 (min), $170.02 (avg), $189.93 (max) .

2025: $146.26 (min), $191.35 (avg), $168.80 (max) .

Long-term: Potential ROI of 53.6% by November 2024 and 28.7% by December 2025 [1).

$SOL
Keep in mind that cryptocurrency markets are highly unpredictable, and forecasts may change rapidly.

BINANCE SHARES MAJOR ALERT FOR ETH,TRX,AVAX WITHDRAW.

Binance has issued a major alert regarding ETH, TRX, and AVAX withdrawals. The exchange is conducting a Tether token swap across multiple networks, including Ethereum, Tron, Avalanche, NEAR, EOS, and CELO, starting November 6 .

This rebalancing of holdings aims to maintain optimal liquidity and security across these networks.

Key Points to Note:

Tether Token Swap: Binance will be swapping Tether tokens across various networks to ensure optimal liquidity and security.

Networks Affected: Ethereum (ETH), Tron (TRX), Avalanche (AVAX), NEAR, EOS, and CELO will be impacted by this token swap.

No Impact on User Funds: Binance reassures users that their funds remain safe and unaffected by this action.

What to Expect:

You may notice funds moving in and out of Binance's hot wallet during this period, but this is part of the planned token swap .

If you have any concerns or questions, feel free to reach out to Binance support.#BinanceSquareFamily

DOGECOIN PRICE ENTERS CORRECTION

Dogecoin's price has entered a correction phase, dropping 12% to $0.1930 after reaching a multi-month high on November 6 following Donald Trump's election win .

This correction is not entirely unexpected, given the cryptocurrency's 140% surge from its August lows, making it one of the best-performing cryptocurrencies in recent days .

Despite this short-term correction, analysts predict that Dogecoin's strong fundamentals and technicals could push its price higher in the long term. The coin's futures open interest has jumped to $1.62 billion, its highest level since April, indicating significant investor interest .

Additionally, Dogecoin's volume in the spot market has remained elevated, reaching $6.4 billion on Thursday, the highest level in months .

Key Factors Influencing Dogecoin's Price:

Trump's Election Win: Trump's victory is expected to have a positive impact on the cryptocurrency market, with Elon Musk likely to play a key role in promoting crypto in the administration .

Technical Indicators: Dogecoin's 200 and 50-day moving averages made a bullish crossover on October 25, suggesting further gains .

Falling Wedge Pattern: Dogecoin's price formed a falling wedge pattern between April and September, which could indicate a breakout to the upside .$DOGE

BINANCE ADD COW AND CETUS FOR TRADING

Binance has officially added COW and CETUS for trading, starting November 6, 2024, at 12:00 UTC .

This exciting news has already led to a significant surge in their prices, with COW soaring 82.5% to $0.4364 and CETUS jumping 60% to $0.3106 .

The listing on Binance has also resulted in a substantial increase in trading volume, with COW's volume rising 2058% to $8.62 million and CETUS's volume surging 812% to $116.53 million .

Key Details:

Trading Pairs:COW/USDT and CETUS/USDT

Withdrawal Date:November 7, 2024, at 12:00 UTC

Listing Fee: 0 BNB

Smart Contract Addresses: 0xDEf1CA1fb7FBcDC777520aa7f396b4E015F497aB (Ethereum) for COW and 0x6864a6f921804860930db6ddbe2e16acdf8504495ea7481637a1c8b9a8fe54b::cetus::CETUS (Sui) for CETUS

This development is a significant boost for both COW and CETUS, and market enthusiasts are eagerly watching to see if they can sustain this upward momentum .$COW $CETUS

WHEN WILL ALTCOIN SEASON COME ?

Altcoin season is a highly anticipated event in the cryptocurrency world, and predicting its arrival can be challenging. However, analysts look out for specific indicators that suggest its potential arrival, including:

Rising Altcoin Dominance: A significant increase in the market capitalization of altcoins compared to Bitcoin's market capitalization .

-Bitcoin Dominance Index: A decrease in Bitcoin's market dominance below 50% often signals the start of altcoin season .

Increased Trading Volume: A noticeable increase in trading volume across various altcoins can indicate growing interest and potential price hikes .

Positive Market Sentiment: Bullish market sentiment across the cryptocurrency space can often spill over to altcoins, increasing prices .

Specific Events: Launching a promising altcoin project or regulatory developments favoring altcoins can trigger an altcoin season .

Some experts believe that the next altcoin season could be driven by sectors like AI, GameFi, metaverse, DePIN, and web3 .

The current bullish mood in the crypto market, powered by the optimism surrounding the upcoming Bitcoin halving and potential spot Ethereum ETF approvals, may also contribute to the arrival of altcoin season.

TRUMP WINNING HISTORIC SECOND TERM AS 47TH PRESIDENT IN 2024

Donald Trump has claimed victory as the 47th President of the United States, according to recent updates .

This historic win marks his second term, following a closely contested election. Trump's campaign focused on economic revitalization and addressing illegal immigration, resonating with many Americans.

Key States Won by Trump:

North Carolina
Georgia
Alabama
Florida
Texas
Ohio

These states played a crucial role in securing Trump's path to 270 electoral votes .

Trump's Victory Speech:

In his victory speech, Trump pledged to bring a "golden age" to the United States, thanking the American people for the honor of being elected . This win is significant, considering the divisive presidential campaign.

Electoral College Breakdown:

A total of 538 electoral votes were at stake, with 270 needed to secure victory .

The swing states, including Pennsylvania, Arizona, Michigan, Nevada, and Wisconsin, were critical in determining the outcome.

BENJAMIN COWEN ANALYSIS ALTCOIN MARKET TRENDS

Benjamin Cowen, a renowned cryptocurrency analyst, has been sharing his insights on altcoin market trends, and it's not looking good for altcoins. He predicts a significant decline in altcoin value, potentially reaching its lowest point by December 2024 or early January 2025 .

This forecast is based on historical patterns, where altcoins tend to perform poorly when Bitcoin's dominance increases .

Key Factors Contributing to Altcoin Decline:

Bitcoin's Market Dominance: Bitcoin's market share has hit 60.5%, its highest in two years, which typically coincides with declining altcoin prices .

Historical Patterns: Altcoins have historically underperformed during periods of high Bitcoin dominance, with the last two "alt-seasons" occurring after Bitcoin halving events in 2017 and 2021 .

Market Conditions: The current market conditions are similar to the 2019 bear market, where altcoins experienced significant losses before recovering in 2020 .

Cowen's analysis suggests that altcoins will likely face a "reckoning" before recovering . However, it's essential to remember that cryptocurrency markets are inherently unpredictable, and forecasts don't guarantee outcomes .

BITCOIN HITS HISTORIC $75K PRICE ON ELECTION DAY

Bitcoin has hit a historic high of $75,000 on election day, driven by Donald Trump's early lead in the U.S. presidential election . This surge is no surprise, given Trump's perceived crypto-friendly stance, which has boosted investor confidence. As the election unfolds, Bitcoin's price is expected to remain volatile, with traders anticipating further market shifts depending on the final outcome .

Key Factors Contributing to Bitcoin's Rally:

-Trump's Electoral Lead: Trump's growing odds of victory, reaching 85% on betting platforms like Polymarket, have spurred optimism among crypto investors .

Short Position Liquidations: A $94 million liquidation of short positions against Bitcoin contributed to the 7.5% increase in BTC's price over the last 24 hours .

- _Historical Election-Related Rallies_: Bitcoin often rallies during U.S. election cycles, adding to the bullish sentiment surrounding Trump's early lead .

Other Cryptocurrencies Following Suit:

Dogecoin (DOGE) jumped nearly 20% since Tuesday, driven by endorsements from tech entrepreneur Elon Musk .

-Other dog-themed tokens, including Shiba Inu (SHIB), Floki (FLOKI), and Bonk (BONK), have also posted double-digit gains .

NO DOGECOIN (DOGE) INVESTOR IS CURRENTLY AT LOSS

Dogecoin investors are currently not at a loss, and the cryptocurrency has had quite a journey. Created in 2013 as a joke by Billy Markus and Jackson Palmer, Dogecoin quickly gained traction and reached a peak market capitalization of over $85 billion in May 2021 .

Recent Developments:
In April 2023, Dogecoin's value surged after Elon Musk temporarily changed Twitter's logo to the Doge logo .

In August 2024, Elon Musk and Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping Dogecoin

What Contributes to Dogecoin's Value?
Community Support: Dogecoin has a strong and active community, with fundraising efforts for charities and notable causes .

Partnerships and Integrations: Dogecoin has been integrated into various platforms, such as the Dallas Mavericks' merchandise store .

Celebrity Endorsements: Elon Musk, Snoop Dogg, and Gene Simmons have all expressed support for Dogecoin .$DOGE

NO DOGECOIN (DOGE) INVESTOR IS CURRENTLY AT LOSS

Dogecoin investors are currently not at a loss, and the cryptocurrency has had quite a journey. Created in 2013 as a joke by Billy Markus and Jackson Palmer, Dogecoin quickly gained traction and reached a peak market capitalization of over $85 billion in May 2021 .

Recent Developments:
In April 2023, Dogecoin's value surged after Elon Musk temporarily changed Twitter's logo to the Doge logo .

In August 2024, Elon Musk and Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping Dogecoin

What Contributes to Dogecoin's Value?
Community Support: Dogecoin has a strong and active community, with fundraising efforts for charities and notable causes .

Partnerships and Integrations: Dogecoin has been integrated into various platforms, such as the Dallas Mavericks' merchandise store .

Celebrity Endorsements: Elon Musk, Snoop Dogg, and Gene Simmons have all expressed support for Dogecoin .$DOGE

WILL BITCOIN BE THE FUTURE OF UK PENSION

Bitcoin is making waves in the UK pension sector! Cartwright, a UK pension fund, has just allocated 3% of its assets to Bitcoin, marking a significant milestone . This move is expected to provide diversification and tap into Bitcoin's unique asymmetric risk-return profile, potentially reducing reliance on employer contributions.

Why Bitcoin in UK Pensions?

Diversification: Bitcoin offers a unique investment opportunity, uncorrelated with traditional assets, which can help spread risk .

Long-term growth: Bitcoin's potential for long-term growth makes it an attractive addition to pension funds with extended investment horizons .

Institutional adoption: This move by Cartwright may pave the way for wider institutional adoption of Bitcoin in the UK pension sector .

Other Players Entering the Crypto Pension Space

Legal and General, a pension and investment firm with $1.5 trillion in assets under management, is considering offering tokenized funds .

South Korea's pension service has reported $34 million in exposure to MicroStrategy, a company heavily invested in Bitcoin .

While this is exciting news, it's essential to remember that investing in cryptocurrencies carries risks.

AFTER THE U.S ELECTION, SEC CHAIR GARY GENSLER IS REMORED TO STEP DOWN

SEC Chair Gary Gensler's future is uncertain following the 2024 US elections. His term is set to expire in June 2026, but rumors suggest he may step down sooner, potentially within the first two months of 2025, after President Joe Biden's term ends .

Gensler has been a contentious figure, especially among crypto enthusiasts and the Republican Party, due to his strong stance on regulation. Former President Donald Trump has even vowed to "fire" Gensler if re-elected . On the other hand, Gensler has expressed willingness to continue serving under Biden.

Key Factors Influencing Gensler's Tenure:

Regulatory Policies: Gensler's aggressive approach to regulation, particularly in the crypto space, has drawn criticism from industry players and politicians alike .

Staff Morale and Attrition: High staff turnover rates and reports of burnout under Gensler's leadership have raised concerns about the SEC's effectiveness .

Political Climate: The outcome of the 2024 elections and potential changes in administration may impact Gensler's position and the SEC's direction.