Author: Anmol Khatiwada

$OM Token Skyrockets 35% in a Day on Mantra Chain

Mantra Chain’s $OM token as seen massive boom lately, increasing by 35% and hitting $2.72. This really helped them boost their market cap to $1.9B with massive $867M in trading volume. Big action came from exchanges as well which also came from big names like Bitunix and DigiFinex. However, a whale pulled out 1.2M $OM from Binance which led to prices dipping by 3% and now overall tokens left are 888.89M.

A native cryptocurrency that powerds Mantra ecosystem goes by the name of Mantra Chain’s $OM token. This is a blockchain focused on DeFi, staking and governance. This token is gaining good momentum lately, graphs show it increasing by 35% in just a matter of 24 hours. According to CoinGecko, it reached $2.72 mark after this surge. The OM token is currently being traded very actively on multiple exchanges and this recent increase even pushed its market cap to reach $1.9 billion. That’s a 32% up  with a 24-hour trading volume surge of 215%, resulting in total $867 million reach.

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With a 24-hour volume of $33.68 million, or 3.88% of the overall volume, Bitunix has the greatest volume of trades, with the OM/USDT pair trading at $2.21.. That’s not all , other exchanges from  Ourbit and DigiFinex also contribute massively, with Ourbit solely handling $13.23 million and DigiFinex seeing $80.2 million in trading volume.

This surge didn’t last long though, just after this the price dropped by 3%. This sudden drop is all because of a whale’s withdrawal of 1.2 million OM from Binance. Reportedly, he withdrew 19.47 million OM from Binance since December 24, at an average price of $0.662. As of now, the total supply of tokens is 888.89 million, among which 855.14 million tokens are already on circulation.

Read more: Polymarket Whale Loses $3.6M in Tyson Bet Gone Wrong

Polymarket Whale Loses $3.6M in Tyson Bet Gone Wrong

Polymarket whale “zxgngl,”, the one who once bagged $11M keeping all bets on Trump. Now he faces defeat as he just lost $3.6M betting on the most anticipated Mike Tyson versus Jake Paul. Paul absolutely dominated throughout and Tyson also looked very tired to begin with, this zxgngl’s gamble backfired bigtime. But even with this L, they’re still top 4 on Polymarket, where the fight saw a wild $63M in bets.

Zxgngl, a high stakes bettor and a prominent figure on Polymarket, which is a popular prediction platform, has just dumped out loads of money after losing the bet on Tyson vs Paul boxing match on November 15.

He has a record of winning bets, the most recent one was when he bet on U.S. presidential election 2024, where he bet on Trump’s victory and bagged a profit of whopping $11 million. Sadly, this victory was immediately followed by a massive loss on the recent boxing match. Zxgngl heavily favored Mike Tyson, even weeks before the match he was praising Tyson continuously. However the odds for the match showed that Jake Paul had a 63.5% chance of winning and Tyson had just 29.5% chance, the remaining 8.5% was the possibility for a draw. Despite all the odds against him, zxgngl decided to support for Mike and the results were awful for him.

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By the end, Jake Paul was awarded a unanimous decision victory, and Tyson’s hopes of securing a win were dashed. This news shocked the world and more to zxgngl as he lost  $3.6 million on it. This is near to one third of the previously won bet on elections. However, despite these losses, zxgngl still remains a prominent figure on Polymarket’s leaderboard.

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XRP Rallies 15% as Speculation Grows Over Gary Gensler’s Exit

XRP price is pumping loads right now, as it just surged by 15% in 24 hours, hitting $0.8177, riding on SEC Chair Gary Gensler exit rumors and Trump’s pro-crypto vibes. Even add Société Générale’s stablecoin launch on XRP Ledger and its no shocker XRP is definitely dominating while Bitcoin and Ethereum lag a bit. Analysts are hyped for $1+ targets.

With a 15% increase in the last day, XRP, a native cryptocurrency from the XRP Ledger (XRPL), is rapidly gaining traction. It is now the best-performing asset among the top 100 cryptocurrencies, trading at $0.8177. As its seven-day gains reached 49%, a level not seen since July 2023, this rally kept getting stronger. The market sentiment seems to have positive insights in light of this news.

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This major factor for hype is all thanks to a rumor of big changes coming soon to the SEC. Talks are swirling all over that SEC boss Gary Gensler might step down, this especially came up after a note about his time in charge. With Trump also eying over a second term, the crypto world is completely hyped over a potential regulatory shake-up. They’re betting Gensler’s exit could mean the SEC drops its Ripple appeal and finally end that never-ending court drama.

Trump’s promise to fire Gary Gensler has sparked rumors across crypto community about him resigning earlier than expected. There’s also this buzz about Trump cutting crypto capital taxes which is fueling the hype even more. Société Générale’s euro stablecoin on XRP Ledger adds to the action.

While some of the big names like Bitcoin, Ethereum and Solona are facing minor dips, XRP’s breaking through everything and is sharply targeted towards $8 all thanks to this future market buzz.

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Arkham Unveils Points Program to Attract Derivatives Traders

Arkham has launched a crypto derivatives exchange with an exciting 30-day points program that converts into ARKM tokens. Targeting major retail traders, it offers onchain audits and PoR but excludes U.S. users. Crypto derivatives trading is absolutely booming, just recently it hit a milestone of $3T+ volume with platforms like CME and Crypto.com baking it up for with futures tied to popular coins.

Arkham Intelligence is a blockchain analytics firm that primarily specializes in tracking and analyzing cryptocurrency transactions. It provides all tools essential in order to identify the entities behind crypto wallet addresses, and hence offers insights into blockchain activity. This blockchain analytics firm has started a points program to woo traders to its newly launched cryptocurrency derivatives exchange, according to an announcement made on Nov. 14.

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This basically means traders can earn points from trading spot crypto and perpetual futures contracts. The program is set to last for overall 30 days and the points thus earned will be converted into Arkham’s native token, ARKM. On November 6, they even launched a digital assets derivatives exchange. This exchange will reportedly target retail traders and compete with existing platforms such as Binance. In short, it mixes their research with onchain audits and proof-of-reserve (PoR). But heads up, it’s not available for U.S. users. This is likely due to regulatory restrictions and compliance issues around crypto trading platforms in the country.

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Bitfinex Hacker Lichtenstein Gets 5-Year Prison Sentence

Ilya Lichtenstein, the man behind the infamous 2016 Bitfinex hack which resulted in $71M (now billions) being stolen, has got 5 years in prison for laundering with his wife, Mrs. Heather Morgan. They used every shady techniques like creating fake ID’s, darknet markets, and NFTs to hide their funds. After finally being caught Lichtenstein cooperated and helped solve cybercrime cases while his wife is also facing sentences soon.

Ilya Lichtenstein from Russia is has been sentenced to five years in prison for working together with his wife to steal and launder billions of cryptocurrency. His wife is a rapper who goes by the name  “Razzlekhan” on her social media and she also pleaded guilty last year for their heinous crimes. Reportedly, Morgan has faced an 18 month sentence recommendation and that will be finalized on November 18.

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This case dates back to 2016, the time when Lichtenstein managed to hack into the Bitfinex exchange, stealing 119,754 Bitcoin worth $71 million at the time. The recent surge of Bitcoin makes the overall stolen amount rise to billions of dollars. The scale of this money and the complexity involved in the case has made this one of the most infamous heist in crypto.

Judge somewhat praised Lichtenstein by calling his Bitcoin heist super calculated. He and his wife both, used fake IDs, crypto exchanges, and even bought NFTs to hide stolen funds. However, after pleading guilty he cooperated with cyber police force and is also helped them solve other cybercrime cases. He showed remorse and promised to fight against cybercrimes. This case really highlights how wild crypto crimes can get.

Bhutan Sells $33M in Bitcoin Amid Price Surge

Bhutan has just sold $33.5M worth of Bitcoin at its peak price, this added to the previously sold $66M overall becomes $100M and this is just the data of this month. Well, even after this the country still holds 12,206 BTC, that totals about $1.11B. Bhutan mines bitcoins using its epic hydro power. Their strategic moves are inspiring other nations, with talks of a U.S. “Strategic Bitcoin Reserve” gaining major buzz.

The kingdom of Bhutan has just recently sold about  367 Bitcoin, worth around $33.5 million, through Binance. Arkham Intelligence says that the transfer took place exactly  at 12:06 a.m. UTC. Bitcoin’s price was high, above $90,000 at that time. Two weeks earlier Bhutan had sold  $66 million worth of Bitcoin, that time it was just $70K which is still lot but after the elections BTC has really surged like never seen before.

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Overall Bhutan still has about 12,206 BTC, considering current price that amounts to about $1.11 billion. These Bitcoins holdings are managed by Druk Holding & Investments. Bhutan seems to sell them strategically so as to make as much profit possible. The recent rally of Bitcoin was the right moment for them to sell out some of the BTC and hence profit is all theirs.

Conclusion

Bhutan’s killing it as the 5th biggest Bitcoin-holding government, leveraging its hydro power energy source instead of seizures to mine BTC. Their high sell-strategy is attracting every major global organizations. Even the US. is thinking of creating a “Strategic Bitcoin Reserve” with recent buzz from Trump and Senator Lummis.

Hamster Kombat Surpasses $5.3B in Volume, Gains 11M Token Holders

Hamster Kombat token (HMSTR) is back on track as it stays hot in trading. It just hit massive $1.3B daily spot and $4B perpetual volumes, despite its Web3 game losing 86% of users since August. After this recent news, Tokenholder vibes stay strong at 11M even though active addresses and price have dropped significantly. Binance Dubai talks stressed keeping Web3 games fresh and emotionally engaging.

A profoundly known crypto gaming platform called Hamster Kombat has managed to amass a community of 11 million tokenholders. The team even jokingly compared this number to about 239 Yankee Stadiums full of hamsters, which made it seem like a legit strong community that holds strong belief in token’s value and so is the truth as well. On November 14, they declared an amazing $1.3 billion in daily spot trading volume and $4 billion in perpetual trading volume for HMSTR.

However, analysts report major decline in the user engagement lately. The token’s price reflects this decline well, as it has fell down form a high of $0.01 on September 26 to $0.0022 on November 4. Nevertheless, their loyal fanbase’s emotion remains strong and very much positive. CoinMarketCap research indicates that over 73% of the total 87,689 voters are very optimistic about Hamster Kombat, while remaining 27% are in doubt.

Recently, at Binance Dubai, Notcoin co-creator Sasha Plotvinov shared his opinion which stated that Web3 games need to vibe with players emotionally and always feel fresh to keep them engaged. Speaking especially on the “Telegram Mini Apps and Games” panel, he believes social and emotional connections are key to keep players coming back.

Read more: SUI Reaches Record High Amid Overextension Concerns

SUI Reaches Record High Amid Overextension Concerns

SUI’s rally is looking for one last stretch as RSI reported its being overbought quite much lately. Meaning the hype will sure chill out sooner than many would expect. Fibonacci math shows that it could reach highest which is expected to range around $3.77 to $4 before its eventual cooldown.

SUI is a native cryptocurrency of the SUI Blockchain. Its a layer 1 blockchain profoundly known for its high speed transactions and scalability. Its token SUI has been on a constant uphill ride. However, the rise is not so celebrated as experts assume its currently on its final wave of ascent and will quickly set down.

Relative Strength Index (RSI) which, as the name suggests, is a popular indicator in trading. It basically measures how much overbought or oversold is an asset and it measures it on a scale of 0 to100. This reliable source, RSI shows major overbought conditions in case of SUI which sharply signals a potential slowdown coming down inevitably. According to some indicators, the price is extremely overextended and the main question is how much it can go before reversing.

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SUI Price Forecast

As of November 11, the price of Sui’s token SUI is $3.29. It holds a 24 hour trading volume of about $2.9 billion. This price means it is still on its uphill ride as it has increased by 0.46% and considering past seven days it has seen a 46.63% price increase. There are total 2.8 billion SUI tokens circulating right now and they hold total market capitalization of about $9.3 billion.

Considering previous waves, this time the Fibonacci level suggests SUI might see its end after reaching  $3.77, but there’s still a slight chance it may go a bit longer and reach $4 dollars before it settles down for good.

UK Unveils Crypto Regulations to Rival US Leadership in Blockchain

United Kingdom just came up with new rules this month, focusing more on stablecoins and staking. This act is all to stay relevant with Trump’s pro Bitcoin US. Some delays have put them behind but there is still a shot to lead if they move fast enough. Clear regs = more crypto startups staying in the UK.

UK government is planning to introduce new crypto regulations this month to reassure businesses and especially to compete with Donald Trump’s sharp progress in crypto firms with a clear stance on the sector. A report says, UK treasury will reveal two pieces of legislation which are primarily focused on stablecoins and its staking services.

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The major step up by UK comes with new crypto rules for stablecoins and staking to keep up with Trump’s crypto-friendly US and the EU. Stablecoins will get industry input on rules, and staking won’t face heavy regulations anymore. There are delays however, that have put the UK behind, but there’s chance for bounce back as there’s plenty left for them but they must act fast. With newly elected president Trump hyping up Bitcoin reserves and mining, United Kingdom needs clear and chill regulations to keep crypto status from bouncing.

Italy Weighs Lowering Crypto Tax from 42% to 28%

Italy is planning to implement 42% price hike on crypto trades according to a statement made by the Vice Economy Minister last month. It has taken major backlash though, so there’s a chance they might drop it to 28%. Some want to scrap the hike entirely, while others push for better crypto education. Whatever the outcome is, this could reshape Italy’s place in the crypto game.

The government of Italy is more tilted towards approving a proposal  to reduce the planned tax hike on cryptocurrency trading. A junior partner in Prime Minister Giorgia Meloni’s coalition suggests crypto tax limit to be 28% instead of the originally planned 42% according to last month’s budget.

Crypto Industry leaders argue that this absurd proposed tax would certainly make Italy less competitive in the field of crypto, compared to other European Union countries. It is sure to get a major pushback, they quoted. The law currently beholds  26% tax rate for crypto.

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The EU is also reportedly rolling out some major crypto rules soon, so Italy’s case becomes even more heated debate than anticipated. Forza Italia, a center-right political party in Italy, wants to cancel the hike entirely and ditch the tax break for gains under €2,000. The League also suggests teaming up with crypto firms to educate investors. The decision is in hands of Italy’s government and this decision is crucial as it would reshape its crypto future forever.

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