Author: Sahil Poudel

Cardano Soars as Bitcoin Nears $80K

An overview

Cardano (ADA) is now a top gainer, exhibiting strong upward momentum in the cryptocurrency market as Bitcoin reaches new highs following the election.

Cardano’s 33% Surge

For the first time in seven months, Cardano (ADA) surged by 33% in a 24-hour period, making it the best performer among the top 100 cryptocurrencies. Reaching a peak of $0.594 earlier today, ADA’s value has significantly increased, with its current trading price at $0.57. Cardano’s market cap now stands at $20 billion, making it the ninth-largest digital currency, with daily trading volume surpassing $2 billion.

1000006986 Bitmala

YOU MIGHT ALSO LIKE THIS: NFT Sales Surge 16.1% to $96.1M as Bitcoin Network Overtakes Solana

The Record Highs of Bitcoin

Following Donald Trump’s triumph, Bitcoin continued to rise, hitting an all-time high of $79,780 at 05:43 UTC today. Bitcoin is currently selling at $79,000 with a market value of $1.58 trillion and a supply of 19.78 million, as some investors start to take profits.

1000006987 Bitmala

Market Overview

The total crypto market cap now stands at $2.85 trillion, rising by $420 billion in the past week. Trading volume across the market has reached $172 billion over the past 24 hours, reflecting heightened investor interest.

YOU MIGHT ALSO LIKE THIS : Bitcoin Soars to $77K Just Days After U.S. Elections

NFT Sales Surge 16.1% to $96.1M as Bitcoin Network Overtakes Solana

In brief

The amount of NFT sales rose 16.1% to $96.1 million as a result of the recent surge in the cryptocurrency market. This rise caused Bitcoin’s blockchain NFTs to surpass Solana’s in terms of overall sales volume. The NFT market is still robust and does well in several chains, even if there has been a noticeable drop in active buyers.

The expansion of the NFT market during the cryptocurrency boom

NFT revenues have increased significantly in sync with the rise of the cryptocurrency market, rising 16.1% to $96.1 million.Important contributing causes include the worldwide cryptocurrency market cap increasing 3.29% to $2.6 trillion and Bitcoin hitting a new high of $77,252.75 following Donald Trump’s victory in the U.S. election.

YOU MIGHT ALSO LIKE THIS: Bitcoin Soars to $77K Just Days After U.S. Elections

Bitcoin NFTs Surpass Solana

Ethereum remains the top NFT blockchain with $31.2 million in sales, but Bitcoin has now claimed the second position, overtaking Solana with $26.3 million in NFT sales—up 93% in a week. Solana dropped to third, while Mythos Chain and Polygon earned fourth and fifth places, respectively.

Highlights of the Collection and Best-Selling NFTs

During a week with significant sales, some of the best-selling NFTs were:

1) $198,680 for SuperRare #7533

2) $154,044 for CryptoPunks #7596

(#142,742) Protoshrooms Additionally, CryptoPunks maintained its high demand, earning several spots among the top-grossing NFTs for the week.

YOU MIGHT ALSO LIKE THIS :Binance Labs Backs DeSci Platform BIO Protocol

Bitcoin Soars to $77K Just Days After U.S. Elections

Synopsis

Bitcoin experienced significant increases, reaching a new all-time high of $77,020 just 48 hours after Donald Trump won the election. At $1.5 trillion in market capitalization, Bitcoin has overtaken Meta to rank among the world’s most valuable assets. According to experts, the incoming administration’s pro-crypto policies will continue to fuel the expansion of the digital asset market.

Bitcoin Reaches Record Highs After the Election

Bitcoin jumped to $77,020 on November 8, surpassing its previous peak. This record, which was attained shortly after Trump’s victory, shows that there is increasing hope for the impact of lawmakers who support cryptocurrency in Congress. The current surge has propelled Bitcoin into the top 10 assets globally, with its year-to-date rise presently standing at 118%.

YOU MIGHT ALSO LIKE THIS: Solana Breaks Through $200 Barrier with Impressive 9% Surge in Value

Proposals for Crypto-Friendly Laws

Get Moving It looks likely that new regulations will boost digital assets now that more pro-crypto lawmakers are in office. One of the initiatives put forth by Senator Cynthia Lummis of Wyoming is the creation of a national Bitcoin reserve. Up to one million Bitcoin might be purchased over the course of five years as part of this scheme, which could strengthen Bitcoin’s position in the American economy.

The Increasing Significance of Crypto in American Politics

The potential of digital assets was proved by the increase in political fundraising during this election that was driven by cryptocurrencies. According to commentators, the incoming administration may offer a more favorable regulatory environment for cryptocurrencies, which might lead to further rise for Bitcoin and other digital assets.

YOU MIGHT ALSO LIKE THIS: Crypto Podcaster Cobie Burns Majority of ‘UPONLY’ SOL Tokens in Bold Move

Binance Labs Backs DeSci Platform BIO Protocol

In its first investment in the decentralized science (DeSci) space, Binance Labs, the company’s venture capital division, has contributed to BIO Protocol, a platform that uses decentralized finance to advance scientific research. With this investment, Binance demonstrates its deliberate foray into the biotech and decentralized finance (DeFi) sectors.

Pioneering Decentralized Science

BIO Protocol, also referred to as the “Y Combinator of on-chain science,” offers a special decentralized funding platform for early-stage scientific enterprises. The platform focuses on topics including women’s health, mental health, and cryopreservation and leverages a network of seven BioDAOs to facilitate collaboration between investors and scientists on ground-breaking research initiatives.

YOU MIGHT ALSO LIKE THIS: Crypto Podcaster Cobie Burns Majority of ‘UPONLY’ SOL Tokens in Bold Move

Growing Funding and BioDAOs

By incorporating more BioDAOs, BIO Protocol intends to expand its ecosystem and support new scientific entities with the funding from Binance Labs. The platform aims to distribute seed finance and enhance community and tokenomics support to further decentralized research efforts.

Binance Labs’ Growing VC Footprint

As part of its continuous attempts to expand its startup capital portfolio, Binance Labs has recently backed innovative projects like Solayer, a Solana staking protocol, and Lombard, a Bitcoin staking platform. Putting money into BIO Protocol aligns with Binance’s objective to back projects that provide important, long-lasting technology solutions for a variety of industries.

YOU MIGHT ALSO LIKE THIS: ValueZone Debuts with Free Investment Plan to Bring AI-Driven Crypto Trading to All

Blockstream Opens R&D Center in Lugano to Advance Bitcoin Innovation

Summary

To support Bitcoin layer-2 developments and the expansion of financial technology, Blockstream, a well-known Bitcoin infrastructure company, has established a new research and development facility in Lugano, Switzerland.

Blockstream’s Strategic Move in Lugano

Blockstream’s R&D hub in Lugano aims to boost innovation in Bitcoin’s Liquid and Lightning networks. The center will bolster Lugano’s position as a center for blockchain development by providing grants, mentorship, and assistance to local startups. The city is also well-known for launching a statue of Satoshi Nakamoto and holding recent Bitcoin events.

YOU MIGHT ALSO LIKE THIS: Chainlink and AI Join Forces as Big Banks Tackle $3.1 Trillion Challenge

Funding and Layer-2 Development

The new R&D center follows Blockstream’s recent $210 million funding to drive Bitcoin layer-2 growth, expand its BTC holdings, and enhance mining operations. Blockstream’s previous investment rounds centered on cryptocurrency mining and growing the Bitcoin finance ecosystem are complemented by this endeavor.

Tools for the Bitcoin Community

Blockstream’s product suite includes Blockstream Green, a secure BTC wallet, and Greenlight, which simplifies BTC payment integration for developers. Additionally, the Liquid Network, launched in 2018, provides a platform for inter-exchange transactions, supporting brokers and market makers within the Bitcoin ecosystem.

YOU MIGHT ALSO LIKE THIS: Galaxy Digital Turns to AI Innovations Amid Bitcoin Mining Challenges

Swiss City Lugano Issues Third Blockchain Bond Worth $139 Million

Synopsis

Lugano, Switzerland, has released its third blockchain-based bond, valued at $139 million. This move shows the city’s commitment to digital finance and blockchain technology and is a significant step toward the adoption of blockchain for public sector financing.

Blockchain Bond Growth

The latest bond, issued on November 4, is part of Lugano’s broader digital bond initiative, with a total value of 320 million CHF ($365 million) across three issuances. This bond is listed on both the SIX Digital Exchange and the traditional SIX Swiss Exchange. Additionally, it is a component of Project Helvetia, the Swiss central bank’s wholesale central bank digital currency pilot.

YOU MIGHT ALSO LIKE THIS: Eclipse Unveils Public Mainnet for First SVM Layer-2 on Ethereum

Successful Digital Bond Issuances

Lugano’s first blockchain bond was issued in January 2023, followed by a second issuance in February 2024. Both bonds had a total value of 200 million CHF and were successfully subscribed by investors. Paolo Bortolin, the city’s deputy CFO, emphasized how easy it is to issue digital bonds and how the technology has the potential to completely transform the financial sector.

Promoting Wider Adoption

This continued issuance of digital bonds by Lugano indicates a growing confidence in blockchain’s potential to transform financial systems. Bortolin urged other issuers to adopt blockchain, pointing to high investor interest and an hour-long bond subscription. Lugano has established itself as a crypto-friendly city by promoting blockchain adoption for tax payments and the launch of LUGA, a stablecoin based on Bitcoin.

YOU MIGHT ALSO LIKE THIS: Layer 2 Network Taiko Achieves Remarkable 1,000% Growth in TVL on Ethereum

Eclipse Unveils Public Mainnet for First SVM Layer-2 on Ethereum

Summary

The public mainnet for Eclipse, a layer-2 Ethereum network driven by Solana Virtual Machines (SVMs), has been formally launched by the Eclipse Foundation. This development is a big step in combining the advantages of Solana and Ethereum, improving financial tools and decentralized apps (dApps) on one platform.

Building a Bridge Between Ethereum and Solana

The new mainnet aims to bridge Ethereum’s security and liquidity with Solana’s high-performance execution capabilities. According to CEO Vijay Chetty, Eclipse offers developers from both ecosystems an unprecedented platform to scale dApps across finance, gaming, and consumer applications, tapping into the strengths of both networks. Chetty described Eclipse as a bridge that empowers developers to build in a more unified environment.

YOU MIGHT ALSO LIKE: Arkham Intelligence Launches Perpetual Futures Exchange with On-Chain Auditing and Rewards Program

Building the Ecosystem

Eclipse has expanded its ecosystem with important projects like Orca, Nucleus, and Save since launching its developer-focused mainnet in October. These integrations demonstrate Eclipse’s dedication to offering Ethereum and Solana dApp tools and infrastructure, which leverage Solana’s SVM execution to improve scalability and user experiences.

Increasing the Flexibility and Freedom of Developers

Because Eclipse provides both Solana’s speed and Ethereum’s liquidity, developers are no longer restricted to a single environment. Parallel processing made possible by this special design lessens fragmentation and helps developers to produce high-performance apps that draw customers from both main networks.

YOU MIGHT ALSO LIKE THIS: Aptos Surges 21%: Is Continued Growth Ahead for APT?

Bitcoin ETFs See $621.9M Inflows as BTC Hits New All-Time High of $76K

Summary

Spot Bitcoin ETFs in the U.S. saw substantial inflows on Nov. 6, with net gains of $621.9 million as Bitcoin hit a new all-time high above $76,000. Fidelity, ARK 21Shares, Grayscale, and Bitwise were among the top funds driving inflows.

Record-Breaking Inflows for Bitcoin ETFs

On Nov. 6, spot Bitcoin ETFs in the U.S. experienced a significant inflow of $621.9 million, rebounding from a three-day period of outflows totaling $712.9 million. Fidelity’s FBTC led with $308.77 million in inflows, followed by ARK 21Shares, Grayscale, and Bitwise, with inflows ranging from $100 million to $127 million.

YOU MIGHT ALSO LIKE THIS: Layer 2 Network Taiko Achieves Remarkable 1,000% Growth in TVL on Ethereum

High Trading Volumes and Positive Market Response

Several Bitcoin ETFs saw their trading volumes more than double, with BlackRock’s iShares Bitcoin Trust (IBIT) hitting $4.1 billion in trades, its highest volume ever. Despite inflows across most ETFs, BlackRock encountered $69.11 million in outflows, diverging from the overall trend.

Market Hope for Trump’s Pro-Crypto Victory

Analysts are hopeful about future growth in digital assets due to the surge in Bitcoin’s price, which coincided with Donald Trump’s election as president, which was pro-crypto. Asset managers are submitting applications to introduce exchange-traded funds (ETFs) for cryptocurrencies including Solana, XRP, and Litecoin in anticipation of regulatory certainty.

YOU MIGHT ALSO LIKE: Trump Victory Creates Over 11K New Bitcoin Millionaires

Trump Victory Creates Over 11K New Bitcoin Millionaires

Synopsis

Because of Donald Trump’s triumph in the 2024 election, Bitcoin values have risen to an all-time high, creating over 11,000 new millionaires.

Bitcoin Wallet Surge

Following Trump’s win, the number of Bitcoin wallets worth $1 million or more surged by 11,487, bringing the total to 132,842. This increase came as Bitcoin prices rose by 7.8% within 24 hours, reaching an all-time high of $75,428. In the past 30 days, Bitcoin saw a 20% increase, with Finbold reporting a significant wealth gain among Bitcoin holders.

YOU MIGHT ALSO LIKE: AI Agents Take on Minecraft: SingularityNET’s Proto-AGI Learns in Virtual World

The Impact of Trump on Bitcoin

Trump’s pro-crypto position, which may result in a favorable regulatory environment for digital assets, is credited by analysts with this surge. Investors are looking forward to any policy changes that might further improve Bitcoin’s performance, as Trump’s backing for the cryptocurrency has sparked a newfound interest in the commodity.

Will Bitcoin Increase?

Gert van Lagen and other technical analysts are hopeful. If market conditions continue to be favorable, predictions indicate that Bitcoin might hit $250,000 by the beginning of next year. Bitcoin fans are optimistic that favorable legislation following Trump’s victory could spur additional growth in digital assets.

YOU MIGHT ALSO LIKE: Arkham Launches Perpetuals Exchange with On-Chain Auditing and Rewards

Arkham Launches Perpetuals Exchange with On-Chain Auditing and Rewards

In brief

According to a release from Arkham Intelligence, the Arkham Perpetuals Exchange, a platform for trading spot and perpetual futures, will launch on Wednesday. The proof of reserves and on-chain auditing elements of the exchange will provide transparency for users. Arkham will also have a point-based rewards system that lets users trade points for the ARKM token, but access may vary by region.

Arkham Perpetuals Exchange: Transparent, On-Chain Auditing

The new Arkham Perpetuals Exchange is built for spot and perpetual futures trading, focusing on transparency with on-chain auditing and verifiable proof of reserves. This setup aims to meet demand for secure, accountable trading environments, providing users with insights directly from Arkham’s blockchain-based verification tools.

YOU MIGHT ALSO LIKE THIS: MANTRA and Libre Capital Partner to Launch Tokenized Money Market Funds

Integrated Analytics for Enhanced Trading

Arkham’s platform integrates seamlessly with its existing analytics suite, offering users research and investigative tools to support trading decisions. This combination allows traders to access data-driven insights and track trends without leaving the platform, creating a more robust trading experience.

Point-Based Incentives and Restriction by Jurisdiction

Arkham Points, which are obtained through trading volume and exchanged for ARKM tokens after 30 days, are being introduced by Arkham in an effort to increase involvement. VIP accounts are rewarded much more. However, regulatory limitations limit distribution in some areas, like as the U.S., highlighting Arkham’s dedication to operating in a compliant manner in the crypto arena.

YOU MIGHT ALSO LIKE THIS: Kraken, Galaxy Digital, and Robinhood Back New USDG Stablecoin via Global Dollar Network

Exit mobile version