Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

Senator Lummis Proposes Bitcoin Reserves Backed by Gold

Summary: Senator Cynthia Lummis suggests a digital and decentralized way to make their national finances strong, He suggests converting U.S. gold reserves into Bitcoin. Though this seems to be a great leap for crypto community and it’s development, critics question the feasibility of the program in the midst of U.S’s growing debt crisis.

Bitcoin Strategic Reserve Plan

Lummis says that currently Bitcoin is way more valuable than gold as gold has recently been undervalued. He aims to do this without creating new dollars. He also points out that the BTC can be stored in Bitcoin Strategic Reserve Fund in decentralized places to make sure it’s properly and very tightly secure to reduce centralized risk like gold. He suggests a program to buy 200,00 BTC annually to ensure the reserve reached 1 million BTC in five years, which he expects would lead the states to participate through segregated accounts if the BTC is held for 20 years.

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Criticism and Concerns

No matter how blissful the program by senator may sound but experts in field of economics, Avik Roy argue that this plan won’t be able to address the annual $2 trillion deficits and explains how fiscal reform is vey much necessary. He also expresses how the volatility of Bitcoin and the crypto space as a whole causes potential misuse.

Trump’s Crypto Push

Trump has always advocated for a pro-crypto administration which includes a crypto advisory board to guide policy. Since this is a really huge deal for every digital and decentralized firm, Major crypto firms like Ripple and a16z are dying for a role.

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NFTs Hit $158M in Weekly Sales, Powered by Ethereum and Bitcoin

NFT sales just hit $158M this week, led primarily by Ethereum ($49M) and Bitcoin ($43M), despite a 12.7% drop from last week. Solana saw a huge spike in buyers aswell, with 185K+ active users. The NFT market’s still strong, closing November with solid momentum after a record-breaking October.

NFTs are still holding strong despite a slight dip this week, with $158 million in sales over the last seven days, according to CryptoSlam. While that’s a 12.7% decrease from last week’s $181 million, the numbers are still looking solid, especially when compared to earlier in November when sales were only around $93 million.

Ethereum continues to dominate the NFT scene with $49 million in sales, though that’s down 25.9% from the week before. Bitcoin NFTs are also holding their own, recording $43 million in sales, though that’s a 29% drop.

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But here’s where things get interesting: Solana, which has been flying under the radar, just smashed it in terms of buyers. With over 185K Solana users actively picking up NFTs this week, which is a 58% jump from last week, its giving off positive vibes all over! In comparison, Ethereum, while leading in sales volume, saw a slight dip in buyer activity.

Other networks like Polygon, Mythos Chain, Immutable, and BNB Chain combined for $35.8 million in NFT sales this week. And although the average transaction value dropped a little, from $133 to $126, it’s clear that interest in NFTs is holding steady.

Looking at the bigger picture, the NFT space is showing some serious resilience. October saw a huge spike in sales, ending a seven-month slump, and now November is keeping the momentum going. Despite the fluctuations, the rise in Solana’s buyers and Ethereum’s continued dominance show that the digital collectible market is alive and kicking.

Despite a minor decline this week, NFTs are still doing well; according to CryptoSlam, sales over the past seven days have totaled $158 million. Even while it is a 12.7% drop from previous week’s $181 million, the figures appear to be stable, particularly when contrasted with sales of only about $93 million earlier in November.

With $49 million in sales, Ethereum is still the market leader in NFT, despite a 25.9% decrease from the previous week. Despite a 29% decline, Bitcoin NFTs are still doing well, with $43 million in sales.

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Solana (SOL) Surges Past $260 as Binance Coin (BNB) Holds Steady

The crypto market’s on the rise, and Solana (SOL) is absolutely crushing it on the game, crossing $260, and Binance Coin (BNB) is just chilling, waiting for its next move. Solana’s hype is real, with predictions to hit $1,000+ by 2025, while BNB might soon break out and hit $1,000.

The crypto market has been on a constant rise of a while now and it continues to grow even bigger everyday. Solana’s token SOL swung high up and soared past $260 recently. Meanwhile, Binance is also preparing itself for a massive jump very soon.

Solana Prediction Till 2025

Solana (SOL) is going off hard right now. It’s been outpacing a lot of top altcoins, with its price skyrocketing 60% this month, crossing $260. Over the past week, it’s up more than 25% and looks set to close above $270 for the week.

Solana may swiftly surpass $300 if it can merely break above $265, which would increase investor confidence. Top cryptocurrency Gs are rather optimistic on it, and indicators like the 20 VWMA and the 14-day RSI are also displaying additional higher momentum.

According to well-known pundits like blue_collarvest, Solana might reach $1,300 by 2025. CryptoYapper predicts that in the upcoming six to twelve months, it will rise between $1,000 and $1,200. Given the increasing interest in memecoins, Solana is among the greatest cryptocurrencies to wager on at the moment.

Binance Coin (BNB): Returning Soon!

Binance Coin (BNB), the top token from the Binance exchange, hasn’t been doing that great this week. Solana has recently passed it, and BNB holders are hoping for a better run ahead. The price went up 7% in the last month and 4% this week, sitting just above $630.

Even though it’s had a slow week compared to coins like SOL, ADA, and XRP, experts believe BNB’s preparing itself for a big jump. Key indicators show it’s trading above important levels, like the 10-EMA ($619) and 10-SMA ($621), suggesting the price might go up soon.

Analysts are still bullish on BNB, predicting solid gains. CryptoFaibik set a mid-term price target of $1,000, while Blockcastcc thinks that if it breaks above $662, it could surge all the way to $1,630, making it one of the top cryptos to watch.

Continue reading: Celestia’s TIA Battles Bearish Trends Despite Rising Active Users and IBC Success

Steller, Dogecoin, Cardano Shine as Crypto Market Hits $3.5 Trillion

Summary: Everybody following any kind of crypto news probably knows by now that, the cryptocurrency market has reached an all time high of $3.49 trillion with an increase of astonishing 11.5% this week. In this huge surge there are some crypto which led the rally with significant gains and they are Stellar, Dogecoin and Cardano.

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Stellar’s 190% Rally

Stellar hadn’t reached new heights since 40 months, but during this rally Stellar soared 190% making its valuation to $0.4436. This is speculated to have happened because of the Federal Reserve’s mention of its potential use in FedNow Payment system. There are many who still believe the rally hasn’t stopped for XLM and could potentially reach $5. which is a 1030% increase from its current level.

Dogecoin Peaks at $0.48

Dogecoin showed absolute potential as it ran on this crypto surge and gained 239% in just past month and rose to a yearly high of $0.48. Analysts still haven’t stop predicting that DOGE will hit $1.25 causing overbought which might cause a sudden pullback.

Cardano Breaks $1

Like Stellar and Dogecoin, Cardano (ADA) also reclaimed what was once lost and hit $1, it also had significant growth of 43.7% just this week taking it upto $1.08. Analysts show how Whale activity drove and led this rally causing a net inflows to surge to 220%, not only that but trading volume also skyrocketed by 86% reaching to $8.1 billion.

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The strong performance of these altcoins highlights growing investor confidence as the crypto market enters record-breaking territory.

Celestia’s TIA Battles Bearish Trends Despite Rising Active Users and IBC Success

In short, Celestia’s TIA is struggling hard even with a spike in active users, ranking #2 among IBC chains. The market’s vibe is bearish AF, even its price tanked 12% this month and traders stacking short positions. Trading volume’s down nearly 50%, and with such bearish momentum rising, TIA could dip to $3.6 soon pretty quickly.

What Is Celestia, Exactly?

Simply, Celestia is a kind of blockchain that allows data sharing and collaboration amongst other blockchains. Because of its unique flexibility, developers can create their own blockchains on top of it, which helps clear out the hassles of starting from scratch. It enables users to recommend personalized blockchains for particular use cases. Additionally, it facilitates smooth data transfer and interoperability between blockchains through the use of the Inter-Blockchain Communication (IBC) protocol.

TIA’s Current Condition

TIA is Celestia’s native token which is used for staking, securing the network, and paying for transaction fees. It also looks after governance, as holders can vote on protocol upgrades and changes.

The condition of Celestia seems to be rather bearish even with the surge in number of active users. Since last week, it has pulled about 62,650 active peeps and ranked 2nd among IBC blockchains for activity. Even with this positivity, nothing could help from TIA’s price sliding down the charts. Its market cap dropped 6.29% to $2.14B, and trading volume tanked nearly 49%. Open Interest dropped 7.33% to $238.65M, with shorts totally overpowering longs. Longs just got smoked with $941K liquidated, and analysts think the price could tank even more if this keeps up. The market’s just not feeling it right now.

Read more: 15 Charged in U.S. for Laundering Drug Cartels’ Cash via Cryptocurrency.

15 Charged in U.S. for Laundering Drug Cartels’ Cash via Cryptocurrency.

Summary: 15 individuals which included 9 defendants and 6 associates face charges in the great state Florida for allegedly laundering drug money from neighboring developing cartels such as Mexico and Colombia into cryptocurrency. This scandal continued for almost 3 long years starting from 2020 to mid-2023 and the individuals where involved in bulk cash pickups and crypto transactions.

Sophisticated Money Laundering Scheme

The accused individuals allegedly collected drug proceeds from cities of United States and converted them into cryptocurrency. Then these digital money or assets were transferred to the wallets of the big evil conspirators, it doesn’t end here as the transferred digital asset was again converted back into cash and then transferred to cartel leaders in Mexico and Colombia.

Key Figures and Roles

Court documents and files suggest Nilson Sneyder Vasquez Duarte as a primary criminal and the one who coordinated the scheme. He and his co-conspirators allegedly helped during the deliveries to black-market crypto exchangers, which for sure included Hernan Horacio Richard Samper and Maria Eugenia Landeros Rosas. Not only there but there are several other individuals also served as a medium to physically transporting cash between U.S. cities.

Charges and Penalties

Accused individuals are facing charges for conspiracy to commit money laundering and operating an illegal money transfer business. This doesn’t end the charge for some as seven individuals which includes Duarte and Landeros, face even more additional count of substantive money laundering.

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76% of Memecoins Promoted by Influencers are Worthless

Summary: CoinWire conducted a research where it found out that a huge amount of memecoins which influencers promote and advertise as the next big thing have lost their value. The study shows that about 76% of Influencer promoted memecoins have reached worthlessness. The research also expresses how the influencers manage to earn some profit from paid promotions while the investors suffer loss as the token starts to collapse within months of being started.

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Majority of Memecoins Lose Value

The analyst of the research found out that out of over 1,500 memecoins promoted and advertised by 377 influencers, 86% of these projects and tokens lost 90% of their value within three months, which is just insane to think about. Not only that but 80% of such token lose 90% valuation on just first month.

Small Influencers Perform Better

This might seem like a huge shock but statistically it’s true, small influencers with under 50K followers experience better returns including 25% gain in one week and 141% growth after three months.

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Profit for Influencers, Losses for Investors

Most influencers prioritize their own financial gain rather than their audiences trust. Influencers earn an average of $399 per tweet, despite the flashy promotions and non stop ads from such influencers, only 3% of memecoins have achieved something other couldn’t and left their mark and are still continuing to do good. With such small success rate, paying influencers for promotions seems super risky.

Woo X Launches AI-Powered ‘George AI’ for Crypto Copy Trading, Pitting Humans Against Machines

In short, Woo X just dropped “George AI”. Its an AI-powered tool for crypto copy trading. It will allow users to follow machine-driven strategies that analyze market trends and social media sentiment. In partnership with Kaito, they’re shaking up trading with AI vs. human challenges. This really begs the question, can humans still compete, or is AI finally taking over?

For introductions, Woo X is basically a popular cryptocurrency exchange known for its advanced trading features. It offers users access to cutting-edge tools for crypto trading. Their main focus lies on providing a seamless experience for traders, combining features like deep liquidity, AI-driven insights, and innovative products such as copy trading. And now, on a recent announcement they have introduced a new AI-powered tool called “George AI” to its copy trading platform, allowing users to follow and replicate the trading strategies of a machine learning model. 

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About George AI

George AI is a powerful machine learning tool integrated into Woo X’s copy trading platform. It will give users an opportunity to follow and replicate the trading strategies of an AI model that analyzes market trends and sentiment. George AI makes use of advanced sentiment analysis to decode chaotic and noisy crypto-related data, something traditional sentiment tools in stock markets struggle with. This helps traders immensly on their journey as it gives direct AI-driven, well calculated insights.

The development of this AI was done in partnership with Kaito, an AI company, George AI scans social media platforms like X (formerly Twitter) and Discord for crypto sentiment, providing insights to traders on market movements.

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Optimism Price Surges 23%, Market Cap Hits $2.6B

Summary: Optimism (OP) is a leading Ethereum Layer-2 Solution and it’s currently experience a 23% valuation surge just within 24 hours and is not trading at a sweet price of $2.08. The market cap of the token as also obviously increased and has reached $2.4 billion with a trading volume of $1.31 billion.

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What is Optimism ?

We’re all familiar with the terminology “Layer-2 Blockchain”, Likewise, Optimism is a laye-2 blockchain built on the ever so successful Ethereum which is a layer-1 blockchain. Optimism uses Optimistic Rollups to make sure the transaction process is efficient. Optimism is also highly regarded as one of the top scaling solutions as it uses Ethereum’s mainnet which is very secured while handling transactions. Optimism has a Total Value Locked (TVL) of over $500M and supports an extraordinary number of 97 protocol which includes Uniswap (UNI), Synthetix (SNX), and Velodrome (VELO).

OP Token Popularity

OP Tokens received a major reaction when it was first launched on a community airdrop on May 31. There were hundreds and thousands of Ethereum enthusiasts who used OP tokens as a go-to asset as it was available on major exchanges such as Binance, Coinbase and Kucoin at that time. That’s not all because accessing Optimism is also fairly easy, all users have to do it connect their wallets like MetaMask and Bridge asset such as ETH to use its efficiency.

READ MORE: AI Firm Genius Group Adds $14M to Bitcoin Treasury, Shares Jump 8.5%




Yo-Yo.ai Teams Up with $300M Hedge Fund to Unveil Real-Time Crypto and Stock Prediction Model

In brief, Yo-Yo.ai just dropped a game-changer for crypto and stock trading. They’ve launched their 10-sec prediction model with 75% accuracy (way better than the usual 63%). They’re making a collab with a $300M hedge fund and offering free live predictions on their site right now. Their new upcoming Yo-Yo Pro tool plus the $YOYO token-powered DeFi Vaults are giving off next-level trading vibes.

For introductions, Yo-Yo.ai is basically a cutting-edge AI research lab that’s mainly focused on revolutionizing predictive trading. They have just stepped up their game by launching a $300 million programmatic hedge fund to make use of its advanced AI-driven price prediction engine. Its got a 75% accuracy rate which is big improvement from their previous 63% benchmark.

The 10 second prediction model is now live on their website and is available publicly on their official Yo-Yo.ai website. Yo-Yo.ai is also really hyping up the Pro version by offering free prediction feeds. This new Yo-Yo pro basically delivers 1, 5, and 15-minute forecasts with a solid 75% accuracy, and soon it will power up its $YOYO token-based DeFi Vaults for automated crypto trading. Using next-gen AI tech, it keeps accuracy stable even in wild markets, making Wall Street take notice.

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YO-YO Price Forecast

The price of Yoyo (YOYO) is $0.00003643 today with a 24-hour trading volume of $285.32. This does represent a 4.52% decline in the past 24 hours but if we considering a month, its up by an impressive 46.32% price increase. So, there’s a chance for bounce back. The market cap and the data about total number of circulating supply are currently unknown.

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