ERC-20 Stablecoin flow into exchanges after the US election 🇺🇸
- According to analysis from CryptoQuant, following the results of the US presidential election, the flow of ERC-20 stablecoins surged, reaching $9.3 billion - the second-highest level ever recorded. - Binance received approximately $4.3 billion, while Coinbase garnered $3.4 billion. History shows that such large inflows often indicate a strong bullish trend in the market. - Coinbase's Premium index increased to 0.06, indicating significant buying pressure from US investors. - The CME exchange also recorded a record increase in open interest, adding $1.2 billion in just one day. - Although there may be short-term volatility, the participation of institutions and a clearer regulatory framework could drive stability and long-term growth for the cryptocurrency market. 📈
The lawsuit between Ripple and the SEC could end with a settlement of $125 million if SEC leadership changes. Since 2020, the SEC has accused Ripple of raising over $1.3 billion through the sale of unregistered XRP. Ripple has achieved several important legal victories, but the SEC has appealed the 2023 ruling, prolonging the lawsuit.
Lawyer Jeremy Hogan predicts that if Donald Trump is elected, he will fire SEC Chair Gary Gensler, leading to a settlement of the lawsuit. Fred Rispoli, another lawyer, believes that dismissing the lawsuit is unrealistic, but the penalty could be reduced. ⚖️
Cardano (ADA) has made a strong comeback, reaching a 14-week high after surging double digits in a day. 📈
- In the past 24 hours, the price of ADA has increased by about 20%, surpassing $0.44, the highest since July. Currently, ADA is trading around $0.43 with a market capitalization over $15 billion, surpassing Tron (TRX) to become the 10th largest cryptocurrency.
- The overall market is on an upward trend, which may be a driving factor behind ADA's recovery. The Federal Reserve's decision to cut interest rates by 0.25% may also contribute to this revival.
- On-chain indicators show positive signals, with 36% of ADA investors currently in profit. The large trading volume reached $8.5 billion on November 8, a 13% increase in 24 hours.
- The Santiment platform predicts a likelihood of FOMO emergence, as many investors fear missing out on the opportunity, which could drive asset values up significantly. However, this may also lead to significant price volatility. 🚀
The CRO token of the Cronos and Crypto.com ecosystem has recorded impressive growth, surpassing the $0.11 mark for the first time since June. 📈
- **New roadmap**: CEO Kris Marszalek announced a development plan with many new features, including stock trading and banking services. The "Level Up" program will launch, along with a web application and AI tools for the Cronos blockchain.
- **Partnership with Google**: Cronos Labs is expanding its relationship with Google Cloud, enhancing security and attracting startups to join the acceleration program.
- **Market recovery**: Along with the overall recovery, CRO has increased by 50% over the past week, reaching its highest level since June. 🚀
Today, approximately 48,700 Bitcoin options contracts will expire with a nominal value of about 3.7 billion USD. This is a larger event compared to last week, thanks to increased trading volume and market volatility following Donald Trump's victory and a clearer regulatory environment.
- The put/call ratio is 0.72, indicating more long-term contracts than short-term ones. The highest open interest is at the price of 80,000 USD with 1.7 billion USD. - Besides Bitcoin, around 294,000 Ethereum contracts are also set to expire, raising the total nominal value to 4.5 billion USD.
The cryptocurrency market continues to surge, with Bitcoin reaching a new high of 76,872 USD and Ethereum seeing a strong increase. 🌟
💥 On November 7th, Bitcoin ETF funds in the US recorded a record inflow of 1.37 billion USD, amid Bitcoin reaching an all-time high of nearly 77,000 USD following Donald Trump's victory and the central bank of the US cutting interest rates.
- BlackRock's IBIT fund led with 1.12 billion USD, bringing total inflows to 27 billion USD. - Fidelity also recorded 191 million USD, while Bitwise, Ark 21Shares, and Grayscale had smaller inflows ranging from 13 to 20 million USD.
📈 Ethereum ETF also had a explosive day with 79.7 million USD, mainly from BlackRock and Fidelity, signaling growth potential if ETH prices continue to rise.
FTX co-founder Gary Wang is seeking to avoid jail time as he awaits sentencing on Nov. 20 in Manhattan federal court. Wang has asked the judge to consider his cooperation in the trial against his close friend and former FTX CEO Sam Bankman-Fried (SBF).
- Less prominent role: Attorney Ilan Graff said Wang had a less significant role in the FTX fraud than other directors such as Caroline Ellison and Nishad Singh.
- Key testimony: Wang pleaded guilty and cooperated with the investigation, helping to convict SBF. He changed the FTX code to give Alameda Research unlimited access to client funds.
- New life: Wang has started a new job and is getting married in 2023, expecting his first child. 👶
The US Federal Reserve has just announced a 25 basis point interest rate cut in its first FOMC meeting since the presidential election. This move had been widely anticipated by the market and experts.
Bitcoin, which is often sensitive to US news, had hit a record high near $77,000 and didn’t make any major moves following the announcement. BTC is currently trading around $76,100, up 8% on the week and over 22% in the past month. 🌟
The Fed’s decision was based on easing inflation, with a target of getting it down to 2% in the coming months. The market appears to have priced in the move, which is why Bitcoin didn’t make any major moves. 📈
The Neiro (NEIRO) meme coin has seen its price surge by more than 20% over the past 24 hours, reaching a three-week high of around $0.002. NEIRO’s market cap has surpassed $900 million, making it the 96th largest cryptocurrency and the 9th largest meme coin.
- The primary catalyst behind this price increase is Coinbase’s listing of NEIRO perpetual futures contracts. These contracts allow traders to speculate on the price of an underlying asset without having to buy the actual token.
- While NEIRO has rallied, top meme coins like DOGE and SHIB have seen modest declines. However, the meme coin sector’s market cap has increased by 13% to over $72 billion. 🚀
Wyoming Senator Cynthia Lummis Reaffirms Commitment to Building a Strategic Bitcoin Reserve for the United States. 🇺🇸
- Following the Republican victory, Lummis stated on X that “We will build a strategic Bitcoin reserve,” emphasizing the motivation behind the BITCOIN bill she introduced earlier.
- The bill would require the US Treasury to purchase 1 million BTC over 5 years and hold it in secure vaults for at least 20 years.
- With the support of 278 crypto-friendly candidates in Congress, Lummis is confident in the bill’s ability to pass.
- Bitcoin has hit a new record high, surpassing $76,000, highlighting the potential of a government-backed BTC reserve. 🚀
- Tron founder Justin Sun has made headlines for offering SEC Chairman Gary Gensler a new job. Sun expressed his desire to work with him if Gensler can treat the crypto industry with sincerity. 🤝
- The move comes as the crypto community welcomes the return of Donald Trump to the White House. Trump, who has become a crypto advocate, once promised to fire Gensler on his first day back.
- Gensler has been criticized for his “regulation by enforcement” approach, with more than 100 actions against the crypto industry, including companies like Crypto.com and Uniswap.
- Although Gensler’s term runs until 2026, the presence of pro-crypto lawmakers could signal a change in the future. 🌐
An Ethereum "whale," after 8 years of silence, has begun to sell a large amount of ETH while the market is experiencing a strong increase. According to Lookonchain, this entity, which controls 28 wallets, sold 13,400 ETH worth about 37.38 million USD on November 7. This whale has accumulated ETH from the ShapeShift exchange since 2016 at an average price of 3.5 USD/ETH.
ETH has risen more than 8% in the past 24 hours, outperforming Bitcoin and Solana. Expert Byzantine General predicts a "short squeeze" that could push ETH prices even higher.
Ethereum ETF funds in the U.S. recorded the strongest capital inflow in six weeks, with a total of 52.9 million USD flowing in on November 6, after Donald Trump's victory. 🐋📈
Cronos Labs has elevated its partnership with Google Cloud by making this platform a validator for the Cronos ecosystem. 🤝
- Google Cloud will be the primary cloud provider for Cronos, participating in 32 validators on the EVM protocol of this network. - This partnership not only enhances security but also makes the Cronos accelerator program more attractive to startups. - Google Cloud will support the development of new decentralized applications, leveraging advanced data processing and AI capabilities.
This collaboration opens up opportunities for innovation at the intersection of blockchain and AI, driving the growth of the Cronos ecosystem. 🚀
Pi Network has extended the KYC deadline to November 30th, encouraging users to participate as validators to receive Pi tokens. 🚀
The latest version of Pi Node has brought nodes closer to the mainnet, with a roadmap expected to be announced in December 2024.
Although it has existed since 2019, Pi Network remains controversial due to a lack of technical information and the token not having officially launched. The team stated that over 13 million people have completed KYC and urged users to finish before November 30th.
Pi Node version 0.5.0 has moved nodes to Testnet2, preparing for the mainnet environment. 🌐
The community is waiting for the mainnet roadmap in December 2024.
Ethereum (ETH) has crossed the $2,800 mark for the first time in three months, marking a notable recovery. Analysts predict that the uptrend could continue, with several key indicators such as the MACD and moving averages flashing buy signals. However, a high RSI suggests a short-term correction is possible. 📈
Prominent X user Michael van de Poppe believes that ETH could continue its upward momentum. Some predict that ETH could reach between $8,000 and $13,000 before the end of next year. Ali Martinez also targets ETH to cross $6,000 by the first half of 2025. 🚀
However, with RSI near 80, ETH could face a short-term correction.
Big changes could be coming to the crypto industry! 🌟
- With the recent political shift, the SEC under Gary Gensler could ease up on strict crypto regulations. This could open up opportunities for compliant crypto companies to thrive.
- President Trump has promised to change the leadership of the SEC, which could lead to new regulations that are more friendly to the industry.
- The crypto markets have reacted positively, with Bitcoin hitting a five-month high. 📈
- Experts expect that the new approach will make a clearer distinction between scams and legitimate projects.
Bitcoin hit a new high of $76,500 before falling slightly to around $75,000. Ethereum stood out with an 8% gain, surpassing $2,800 for the first time in months. Other altcoins like PEPE and AAVE also recorded double-digit gains. 🌟
Bitcoin had a historic week, rising from $67,000 to over $75,000 after the US election results emerged. Despite the slight decline, BTC is still up 4% for the week, with a market cap above $1.480 trillion.
Ethereum along with major altcoins like XRP, ADA, LINK, and AVAX also surged. The total cryptocurrency market cap is close to $2.650 trillion. 🚀
Bitcoin surged to $76,400 after Trump's victory, settling at $75,000. Analysts expect BTC to hit $120K–$150K next year. 📈
Dogecoin also saw a significant gain, surpassing $0.20 on Elon Musk's support for Trump and mentions of "D.O.G.E.", up 78% over the past month.
Binance expands altcoin listings, boosting listed assets by more than 70%. Listings on major exchanges like Binance typically improve the liquidity and credibility of tokens.
These developments show optimism about blockchain technology and cryptocurrencies. 🚀
Ripple's XRP is gaining attention with a 6% gain on the day, reaching nearly $0.57 and currently trading around $0.55. Analysts predict that if the $0.55 resistance level is broken, the price could rise to $0.65. 📈
Trump's promise to fire SEC Chairman Gary Gensler could give XRP a boost, making it one of the best-performing cryptocurrencies under his watch. The SEC and Ripple are still in the middle of a lawsuit over whether XRP is an unregistered security.
Experts like Brett and EGRAG CRYPTO predict a bright future for XRP, with the price potentially reaching $1.60. 🚀
Bitcoin surpassed the $75,000 mark on Wednesday and $76,000 on Thursday morning, setting a new record before stabilizing at $74,500. Market experts are optimistic about the growth potential of this cryptocurrency, driven by expectations of crypto-friendly policies from the Donald Trump administration.
- **Record Open Interest on Binance**: Binance's open interest (OI) reached an all-time high of $8.3 billion in the past 24 hours, accounting for about 35% of the total OI of $23.3 billion across all exchanges. This strong increase may signal heightened market volatility, as a surge in OI is often an indicator of liquidation events in the futures market.
- **Warning from Ali Martinez**: Analyst Ali Martinez warns of a sell signal on Bitcoin's 4-hour chart, suggesting a potential pullback to $72,000. However, if BTC holds above $75,400, this could pave the way for an upward trend to $78,000. 📈