Author: Sahil Poudel

Bitcoin Trading Volume Reaches All-Time High on Retail Demand

In short, After the recent U.S. election results, Bitcoin reached it’s all-time high and hit a record-breaking trading volume of $170 billion as retail interest increased. Following the promises made by Donald Trump to establish a crypto-friendly environment in the United States, retail excitement around bitcoin.

Record Volume and Price Surge

Trading volume of Bitcoin crossed over $145 billion in just past 24 hours, marking an all-time high and exceeding prior peaks seen earlier this year. According to the date provided by Coingecko, Bitcoin’s volume continued to grow and for a short period of time crossed $170 billion as it hit a new price record of $91,900

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Trump’s Win Spurs Retail Interest in Bitcoin

Matrixport analysts attribute the volume spike to increased retail interest following trump’s win, as his pro-crypto stance promises potential shifts in the U.S. regulatory landscape. Trump’s aim include creation of Strategic Bitcoin Reserve, making U.S. “crypto capital” and if possible replacing SEC Chair Gary Gensler.

Public and Institutional Interest Soars

Not only market value of bitcoin rose but also it’s popularity, since google searches for Bitcoin rose to five-year high, up to 78% reflection widespread interest. That’s not all because spot Bitcoin ETFs also saw inflows of over $4.2 billion, helping drive the cryptocurrency’s recent rally. Based on Matrixport’s analysis, retail-driven trading volume could sustain Bitcoin’s momentum for weeks or even months.

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Thailand Busts Illegal Bitcoin Mining Rigs; Charges Two for $280k Electricity Theft

Briefly, Two suspects were arrested by Thai authorities for allegedly stealing over $280,000 in electricity for unauthorized Bitcoin Mining. This arrest mission led to the discovery of nine illegal and unauthorized mining sites in Surat Thani province. This issue showcases a growing problem of unlicensed crypto mining in Thailand.

Details of the Crackdown

The central Investigation Bureau and the Provincial Electricity Authority on Thailand raided nine illegal, unauthorized and unlicensed mining sites after a tip from a local resident about suspicious CCTV cameras. During investigation authorities stumbled upon modified electricity meters used to bypass legal power consumption, saving operators hundreds of thousands of dollars.

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Thailand’s Stance on Crypto Mining

Bitcoin miners are considered manufacturers in Thailand and need to pay tax. However, illegal mining operations have significantly increased, with several busts in 2024 alone. Having said so, Thailand remains to attract crypto business due to its progressive approach to digital assets.

Thailand’s Growing Crypto Appeal

Thailand is globally considered as a top market by Binance, with a mind blowing 12% local crypto penetration rate. Authorities recently launched a Digital Asset Regulatory Sandox to help improve innovation in crypto service, allowing companies to operate under flexible and feasible guidelines aimed at making the country’s digital asset sector strong.

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Crypto Market Sees $650 Million in Liquidations as BTC and ETH Enter Overbought Zone

In short, the crypto market has experienced a steep increase in volatility over the past 24 hours, with total liquidations reaching $650 million. This has caused Bitcoin and Ethereum to reach overbought zone, signaling a potential market cooldown.

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Crypto Liquidations

Liquidations Spike Amid High Volatility

Coinglass provides data that shows the total liquidation have surged 70% in a day, with total amount of $650 million — $366 million in long position and $284 million in short positions. Bitcoin and Ethereum being face of crypto market, among other major cryptocurrencies are showing signs of an overbought market, which may bring forth a cooldown in their recent bull run.

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Bitcoin and Ethereum in Overbought Zone

Bitcoin recently reached all time high of $89,600 with it’s RSI hitting 75, a level that indicates it may be overbought. Ethereum also saw similar activity and reached it’s peak $3,241 before experiencing a gradual decline with it’s RSI standing at 74. This unusual and shocking activity suggests potential short-term volatility.

Market Sentiment and Speculation

After Bitcoin and Ethereum hit their all-time high, Experts are on the side of the bull-run’s sustainability. Cameron Winklevoss believes that this market cycle is being driven by institutional investments rather than retail. On the other hand, CryptoQuant CEO Ki Young Ju warns that the future crypto market may be bearish and overheated for 2025.

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Kaiko Acquires Crypto Index Provider Vinter to Boost European Market

In brief, Kaiko is a Paris-based blockchain data firm and it has acquired European crypto index provider Vinter to strengthen its position in the European exchange-traded product market. This asset will surely help Kaiko meet the demands from the rising institutions for crypto indices, following the recent success of U.S. Bitcoin ETFs.

Acquisition Expands Kaiko’s Reach in European ETP Market

Kaiko, A Paris-based blockchain analytics firm has stated the acquisition of Vinter, a European crypto index provider. This strategic acquisition is done with the expectation that the assets received would provide necessary support, aligning with the company’s broader goals of consolidating regulated crypto financial products.

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Responding to Institutional Demand

Kaiko acquiring Vinter is a response to increasing demand from organizational clients for reliable crypto indices. After the launch of U.S. spot Bitcoin ETFs earlier this year, Kaiko intends to cater to European investors looking for regulated crypto-based financial products which can hopefully fulfill rising demands.

CEO’s Vision on Expansion

CEO of Kaiko, Ambre Soubiran expressed how important the acquisition is, stating that it enables the company to widen it’s product portfolio and serve a broader global clients. Despite the financial details of said acquisition being hidden, Kaiko claims it’s their third and largest acquisition to date.

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Past Acquisition to Strengthen Analytics Offerings

Kaiko has has three acquisition to this day. Kaiko has previously acquired Kesitys in April 2022 with the intention of supporting quantitative analytics unit and purchased Napolean Index from CoinShares in June, further expanding its data service. Kaiko is not a rookie on the blockchain game, founded in 2014, Kaiko gives data on pricing, trade volumes and blockchain analytics serving both institutional clients and exchanges.

AI Firm Genius Group Chooses Bitcoin as Primary Treasury Asset

In brief, Genius Group which is a Singapore-based AI company has announced that it will accumulate greater portion of its treasury in Bitcoin, investing $120 million initially. This move copies the BTC-focused reserve strategy applied by MicroStrategy, as the AI startup plans to maintain 90% of its treasury value in Bitcoin.

Genius Group Adopts Bitcoin for Treasury Holdings

Genius Group, A Singapore-based AI company has boldly committed itself to Bitcoin as its main treasury asset, announcing an initial purchase of $120 million. As mentioned above, the company has also opened up about its plan to hold 90% of its treasure in Bitcoin, with an initial acquisition of 1,380 BTC. After the announcement, Genius Group’s GNS shares jumped by 50% in pre-market trading, later stabilizing above previous levels.

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Inspired by MicroStrategy’s BTC Strategy

Genius Group doesn’t try anything bold or new but simply follows the footsteps of already running companies like MicroStrategy, Tokyo’s Metaplanet and Semler Scientific, each of which company holds over 1,000 BTC. Genius Group, Inspired BY MicroStrategy’s Bitcoin-first strategy aims to leverage BTC as a key financial asset to drive a sustainable shareholder value.

New Board Reflects Crypto and Blockchain Focus

The Strategy followed by Genius Group comes at a perfect time as Bitcoin in on it’s all time high and investors have their interest drawn towards cryptocurrency. Genius Group’s Bitcoin strategy comes amid a shake-up in it’s executive team, adding crypto-savvy members to it’s board. This change goes hand on hand with the growing interest of the firm’s in blockchain and web3 technology. The initiative has positioned it as one of the first NYSE American-listed companies to fully embrace a Bitcoin-first approach for its treasury.

Bitcoin Surpasses Silver: Will BTC Reach $100,000 in November?

In short, Bitcoin has managed to reach a new all-time high of $89,604. This has surpassed silver in market value. This has shocked everyone especially the crypto community, they’re speculating whether Bitcoin can cross the $100,000 this month.

Bitcoin Reaches Historic Heights

Earlier today, Bitcoin hit it’s all-time high of $89,604, pushing it’s market cap to $1.77 trillion and actually overtaking silver’s valuation of $1.7 trillion. Not only Bitcoin but after the elections held on The United States of America, broader crypto market also saw substantial growth, with the whole worlds’ global market cap reaching up to $3.11 trillion.

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Whale Transactions and Market Reaction

Data provided by IntoTheBlock shows that whale transactions exceeded to $100 billion which signals a strong market participation from large investors. This type of movements often cause the retail interest to increase as fear of missing out which drives up the demand and inflows into Bitcoin.

Speculation on BTC Reaching $100,000

As Bitcoin’s price approached $90,000, the momentum it had slowed down, with some major investors opting to take profits. As per Polymarket, there’s a 40% chance of Bitcoin reaching $100,000 by the end of November, while poll on Kalshi suggests a 45% chance.

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Okto Wallet Partners with Agglayer to Streamline Cross-chain Transactions

In brief, okto wallet has announced a cooperation with Agglayer. which was formed in partnership with Polygon labs to promote and advertise smooth cross-chain transactions. This is done by making sure the users could interact and communicate with many blockchain networks via a single interface. This collaboration wants to improve interoperability and streamline DeFi interactions.

AggLayer and Okto Wallet Collaboration

During the Aggregation Summit, Okto announced its partnership with AggLayer, a cross-chain settlement solution co-developed with polygon Labs. This collaboration aims to make cross-chain interactions easier and simpler. If this is to come true and be fruitful then this platform will be tackling one of the major hurdles in decentralized finance (DeFi)— chain interiperability.

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Simplified Cross-Chain Transactions

With the help of newly integrated AggLayer, Okto Wallet users can now conduct transactions across multiple blockchain networks within one unified interface. Now the users don’t have to go through each chain individually, making DeFi more accessible to non-technical users and beginners.

Launching the Chain Abstraction Stack

Okto alongside the AggLayer collaboration also introduced its Chain Abstraction Stack, which includes the customizable Okto App Chain built using Polygon’s Chain Development Kit. This stack provides a base for developers to build dApps without the need of in-depth information and knowledge about blockchain which enhances the potential audience for DeFi.

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Advancing Chain Abstraction

By making things easier for beginners and non-technical users, Okto’s chain abstraction approach enables smoother interactions within DeFi ecosystem. This partnership takes a major steps towards making decentralized finance more and more user-friendly. This helps pave the way for a more interconnected blockchain environment accessible to millions and millions.

Espresso Launches Mainnet for Cross-Chain Composability layer with a16z Backing

Summary

Espresso, a blockchain project backed by Andreessen Horowitz (a15z), has released it’s major confirmation layer on mainnet. This amazing achievement follows extensive testing and partnerships which promises enhanced cross-chain interactions and synchronous composability in the Ethereum ecosystem.

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Mainnet Launch of Core Confirmation Layer

Espresso a Blockchain project announced the mainnet release of it’s confirmation layer, with the aim of enhancing cross-chain composability in the Ethereum ecosystem. Espresso’s team took a juicy amount of time which is about two years of pure development and testing across five testnets to roll out this key infrastructure to enable reliable inter-chain interactions.

Improving Synchronous Composability

This confirmation layer allows chains to freely interact and validate each other’s state transitions through synchronous composability. This revolutionary shared infrastructure gives a “source of truth” for several blockchains, making sure they can read and confirm transaction data more efficiently.

Strong Industry Partnerships

Espresso has collaborated with ecosystem partners such as Cartesi, Airchains, Offchain Labs, Across Protocol and AltLayer. This ensures that its innovation has robust support system. The goal of these partnerships is to extend Espresso’s capabilities across several blockchain ecosystem by integrating its layer with modular, zero-knowledge solutions and bridge platforms.

Conclusion

With the support of an experience a16z and $28 million in Series B funding, Espresso’s mainnet debut is a significant milestone for Ethereum’s cross-chain compatibility and composability. With a robust network or partnerships and plans for phased implementation, Espresso’s infrastructure is poised to become a major force in decentralized banking

Andreessen Horowitz’s a16z Sees Bright Future for U.S. Crypto Industry

In brief, During his latest statement, venture capital Andressen Horowitz (a16z) showed optimism about the future of the U.S. crypto industry. A16z also strongly implied the growing scope and potential for regulatory clarity and opportunities for innovation, urging builders to remain focused on compliance while leveraging blockchain’s benefits for consumers.

A16z’s Optimistic Outlook

On Nov. 11, a16z launched a note stating it’s positive point of view on the United States crypto industry’s future. The firm then motivated the builders to take merit of the new coming regulatory clarity that could potentially create a more supportive and helping environment for crypto innovation. A16z leader also highlighted increasing interest from crypto founders, with many inquiring about how the latest political developments might impact their projects.

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Promising Consumer-Focused Applications

The letter explained in detail how the emerging blockchain technology could potentially empower day to day consumers by providing control over their digital identities, creating new business models for creators and providing facilities for low-cost global transactions. A16z also preferred the usage of stablecoins as tool to enhance payment efficiency, as well as a potential applications for decentralized social media and cross-border payments.

Hope for Regulatory Clarity

A16z very passionately pointed out the need for much clearer regulations to replace the current “regulation by enforcement” approach, which has more often than not left companies in uncertainty. The firm is optimistic about clearer policies allowing legitimate projects to grow while also enhancing consumer protection. It also assured it’s commitment towards fair policy in congress to sustain crypto innovation.

Conclusion

Andreessen Horowitz sees this as a significant time for United States to grow in Crypto industry. The firm still remains optimistic about their view on clear policy.

DeltaPrime Suffers Second $4.7 Million Hack Attack

In brief, DeltaPrime which is a Crypto Broker has again suffered from a heartbreaking hack, with about $4.7 million stolen from its funds. This is second attack on the platform since September, which raises a serious question about the company’s security and operations.

DeltaPrime Targeted Again

DeltaPrime, which is a reputed decentralized protocol is backed by notable investors like Avalanche and GSR Market has faced another major security breach on Nov, 11. This security breach cause the company a devastating loss of approximately $4.7 Million. This breach included an attack on several liquidity pools on Arbitrum, with funds reportedly siphoned via a weak link in the protocol’s periphery adaptor contract.

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Analysts Confirm Break and Track Stolen Funds

Blockchain analysis at Certik confirmed the attack and found out that the amount stolen were held at a particular wallet address. After the security breach, Deltaprime accepted that both of it’s Avalanche and Arbitrum fund pool were affected, bringing total loss to $4.7 million.

Previous Incident in September

This incident isn’t the first time Deltaprime has suffered a security breach but just few months ago in September, hackers managed to get inside the network through a weak private key security which resulted in a $6 million loss. The platform is also connected to North korea’s IT personnel, which has raised a lot of questions regarding security vulnerabilities, though the flagged personnel were removed earlier this year.

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Background and Funding

Launched in January 2023. Deltaprime quickly managed to get good response from as it had managed to garner over $63 million in total value locked. The platform was supported by reputed investors like Avalanche, GSR Capital and Moonhill Capital, the protocal at first promised to provide robust security and light like efficiency. Yet, the repeated breach and repeated money stolen raise significant concerns about it’s promises.

Conclusion

With two major breached within just few months, Deltaprime is sure to face a lot of backlash on it’s security policy. Users and investors alike await the company’s response and any concrete steps to prevent future incidents.

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