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.

Crypto Inflows Surge Post-Election to $31.3 Billion YTD

In brief, to date, cryptocurrency investment products have seen record inflows of $31.3 billion, with $1.98 billion coming in immediately following the U.S. election. Driven by positive market circumstances and political changes, Bitcoin leads these gains, followed by robust investments in Ethereum and other altcoins.

AUM and Inflows Hit Records

Post-election inflows of almost $2 billion into cryptocurrency products increased year-to-date totals to an all-time high of $31.3 billion and worldwide AUM to $116 billion. With $1.95 billion, the U.S. led this increase.

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Bitcoin Leads Investor Optimism

Bitcoin alone attracted $1.8 billion last week, reflecting renewed investor confidence following the U.S. Federal Reserve’s recent rate cut and political shifts, according to CoinShares’ James Butterfill.

Activity on Ethereum and Other Cryptocurrencies

With $157 million in inflows, Ethereum had its best week since the July launch of the ETF. Blockchain stocks saw $61 million, indicating a wider interest in digital assets, while altcoins like Solana, Uniswap, and TRON also profited.

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Prospects for the Future and Analyst Forecasts

Analysts predict that traditional investors would increase their investments in crypto-focused exchange-traded funds (ETFs) after Trump’s victory. Cameron Winklevoss of Gemini forecasts that the price of Bitcoin will rise further, with a target of $100,000 in sight.

In conclusion, with significant inflows and strong anticipation regarding Bitcoin’s future trajectory, the U.S. election and favorable market circumstances have established a bullish tone for the cryptocurrency space.

Near Protocol Aims to Create the World’s Largest Open-Source AI Model with 1.4 Trillion Parameters

Near Protocol just dropped in major updates! They’re currently working on the largest open-source AI model with 1.4 trillion parameters, revealed at the Redacted conference in Bangkok. Not only that, NEAR’s mainnet now also works with MetaMask and all Ethereum wallets, so ETH users can jump in without switching wallets. This led to NEAR’s price to surge by 9% to $5.17, boosted by a huge 139% increase in trading volume after the conference.

On a Redacted conference recently held on Bangkok, Thailand, Near Protocol made an announcement of their ambitious plans for the new AI model they are building. This one is supposed to be the largest open source Artificial Intelligence model in the world. It will contain 1.4 trillion parameters which in perspective is 3.5 times larger than the current open source Llama model by meta.

The project also involves support of collaborations s from the new hub Near AI Research and will be created through crowdsourced research and development. As of November 10 some participants in Bangkok are already able to start training a small model with almost 500 million parameters. Furthermore, the plan is looking to proceed by collaborating with the ones who would make the leap to work on progressively more complex models. Which means the project is bound to grow in size and sophistication through several models, seven to be exact.

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Price Outlook of NEAR

As the time of writing, Near Protocol’s token NEAR is priced at $5.33 with a 24 hour trading volume of almost $1.5 billion. This gives off a very positive vibe as it has managed to increase by 9.78% in just 24 hours and a whopping 44.39% increase in the past seven days. This momentum could break this coin way above its resistance level if it continues on till next week. With a circulating supply of bout 1.2 billion NEAR tokens, the platform is valued at a market capitalization of $6.4 billion.

Shiba Inu Developer Proposes U.S. Blockchain Innovation Hub as SHIB Pumps 40%

In brief, Shytoshi Kusama, the principal inventor of Shiba Inu, recently suggested creating a “Silicon Valley for crypto” in the US. This ambition, which corresponded with a noteworthy 40% increase in SHIB’s price, seeks to establish the United States as a leader in blockchain innovation.

A Developer of Shiba Inus Shares Their Vision

Kusama presented a strategy plan to create a blockchain innovation hub in the United States, which he hopes would become a multibillion-dollar “Silicon Valley for crypto.” He said he hoped this program will push the United States to adopt blockchain technology and catch up to the world’s leading innovators in digital assets.

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SHIB Increase of 40%

SHIB’s price surged 40% after the revelation, hitting $0.00002727 in a single day. SHIB has increased by more than 65% per week, despite being 68% below its peak of $0.00008616 in October 2021. Although Kusama’s strategy may not have been the main force behind the pump, favorable market conditions most likely contributed to SHIB’s upward trajectory.

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Future Objectives of the Shiba Inu Foundation

The Shiba Inu foundation intends to publicly offer the hub proposal to the incoming U.S. administration, Kusama hinted. The foundation further highlighted the project’s goal of promoting worldwide blockchain adoption by indicating that financing from their D.O.G.E. initiative might help fund this ambitious effort.

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Finally, Kusama’s plan has renewed interest in and optimism for SHIB, marking a persistent push for strategic expansion and practical implementation within the Shiba Inu ecosystem.

Tether Partners with Canadian Authorities to Recover Stolen Cryptocurrency

Tether made headlines after helping Canadian police recover $10K CAD in stolen crypto. They froze the funds and managed to get it back to the owner. This cooperation highlights Tether’s support for law enforcement, despite its history of scrutiny over transparency. CEO Paolo Ardoino emphasized their commitment to fighting cybercrime, highlighting on Tether’s work with agencies worldwide. However rumors still swirl about Tether’s legal issues, but more importantly they’re staying focused on expanding globally.

After a long time of staying underground, Tether has finally stepped back into the spotlight. This time its for assisting the authorities in solving a crypto crime. Reportedly, the stablecoin firm helped the Ontario Provincial Police officially in solving a crypto robbery crime worth  $10,000 CAD. Their amazing help showcased the company’s overall increase in commitment to help authorities address crypto-related crimes.

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Ontario Provincial Police Acknowledge Tether’s Role in Recovering Stolen Crypto

The OPP wasted no time in thanking Tether for their assistance in successfully recovering the crypto funds. With the help of Tether, the investigators managed to freeze $7,186, or 10,000 Canadian Dollars in USDT, from the suspect. According to detectives, Tether’s help ensured the quick recovery of the stolen crypto assets and also commended  the crypto firm for its voluntary assistance, which ultimately facilitated the return of the funds to their rightful owner.

Tether’s Response

Paolo Ardoino, Tether’s Chief Technology Officer quickly released a statement after the successful recovery of funds. In the statement he emphasized on the company’s  commitment on helping law enforcement fight through cyber crime. Ardoino further stated that Tether would hold criminals accountable and support all victims. Recently they have even strengthened its efforts especially to help law enforcement.

With this the company has now collaborated with over 195 law enforcement agencies in over 48 countries and are aiming on expanding even further.

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ETH, SHIB, and SUI are the top cryptocurrencies to keep an eye on this week.

Synopsis

The primary cause of last week’s hopeful spike in the cryptocurrency market was the increase in Bitcoin following Trump’s election triumph. As Bitcoin got close to $80,000, altcoins like Ethereum (ETH), Shiba Inu (SHIB), and Sui (SUI) also reported significant gains, pushing the global cryptocurrency market value to a record high of $2.85 trillion. Below is a summary of the week’s best cryptocurrency performers and important levels to keep an eye on.

Ethereum Surges Past $3,000

Ethereum reclaimed multi-month highs, spiking to over $3,100 as it capitalized on the broader market rally. After a modest drop on Nov. 4, ETH rose 27.3% over the week, with its largest gains on Nov. 6 following Trump’s victory. The cryptocurrency remains in overbought territory, with a potential pullback to $2,981 if momentum stalls. Key resistance now lies at $3,396, while the Relative Strength Index (RSI) sits at a bullish 75.62.

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Shiba Inu Rallies 21%

Shiba Inu saw a 21% weekly increase, breaking past $0.00002 for the first time in nearly a month on Nov. 9. The MACD’s bullish crossover on Nov. 6 indicates strong momentum, although SHIB may face resistance at the June peak of $0.00002622. Support stands at the 23.6% Fibonacci level near $0.00002157.

SUI Claims New All-Time High

Sui, the native token of its layer-1 blockchain, reached a new all-time high of $3.14 after a 20% surge on Nov. 9. The asset maintains an upward trajectory, although its Stochastic Momentum Index at 79.1 signals overbought levels. Investors should watch for potential support at $2.75 if the asset faces a pullback.

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In conclusion, as the market is still showing bullish momentum from the previous week, investors should keep an eye on these crucial levels for any shifts in the trend or additional gains.

Ripple Insight: Legal Expert Weighs in on Kamala Harris’s Options for Selling Donated XRP to Cover Campaign Debts

President Trump made a joke about helping Kamala Harris with her $20M campaign debt by hinting at possibly selling out the donated XRP (Ripple’s crypto), only if the SEC drops its case against Ripple. A legal expert named Marc Fagel said Harris can actually legally sell her XRP without SEC hassle as she’s a retail holder and not some random issuer. If the SEC backs off, XRP’s price might surge, potentially helping her cover debts.

Newly elected President of United States, Donald Trump trolled Vice President Kamala Harris who is reportedly struggling in her presidential campaign. Trump offered a help regarding her reported $20 million debt, and this one involves XRP, the digital currency linked to Ripple.

Trump’s known for his sharp comments and playful humor, he made this offer to the GOP suggesting they “do whatever we can do to help them” with Harris’ outstanding campaign debt. This prompted a regular user to suggest that if Harris could sell some of her donated XRP (Ripple’s cryptocurrency), she might be able to cover a significant chunk of the debt. The main motive behind this is to drop all the SEC charges against Ripple and its XRP, which could result in enough rise of the token to help her pay off the full amount.

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Marc Fagel, a former SEC lawyer stepped in stating that any XRP sales would be exempt from SEC registration, provided they aren’t tied to the issuer (Ripple).  He further clarified that Harris was actually a  retail holder of XRP which means she would not need to worry about SEC regulations if she sold the token. The SEC’s focus is on Ripple as the issuer, so she wouldn’t face Ripple’s regulatory issues if she sold her XRP.

One of the Ripple’s co-founder Chris Larsen even donated $10 million worth of XRP to a fund to financially support Kamala Harris on her political efforts. This fund could helped her massively with campaign-related expenses.

Goatseus Maximus Nears $1B Milestone with 20% Surge in GOAT Price

Goatseus Maximus is blowing up massively, nearing a $1B market cap with a 19% pump. The pump made it reach an height of $0.94 which indicates this AI powered meme coin is up over 1900% since last month making it one of the fastest growing tokens ever. GOAT’s surge lines up with Bitcoin’s bullish streak, which just recently hit $81K, fueling hype across crypto. Goatseus Maximus has really become a social media sensation all thanks to its AI bot and community constantly backing it on X.

Goatseus Maximus is currently on a uphill ride to be one to capitalize over a billion in market. This is all driven by an impressive price increase by almost 19% over the past 24 hours. This positive surge has begun right after Bitcoin started its uphill ride, after the election. Currently bitcoin is on its all time high, trading at a staggering $80K which is showing no signs of slowing down from this surge anytime soon. Analysts even claim this token could reach $100K by the end of the year.

Similarly, Goatseus Maximus is also gaining major momentum in the market. As the time of writing, Goatseus Maximus’s token GOAT is priced at $0.8425 with a 24 hour trading volume of about $318 million. This represents 5.13% growth since last 24 hours and a massive 61.3% increase in the past seven days. This meme coin could be the very first one to reach $1 price pretty soon. With a circulating supply of over $1 billion GOAT tokens and valued at a market cap of staggering $859 million, it looks like a promising asset to keep for future gains.

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Bitcoin Boom: Election Day Surge and Six-Figure Speculation

In summary, Bitcoin reached a record high of $80,000 after President-elect Trump’s triumph, igniting investor excitement and forecasts of a possible spike to $300,000. The scenario is prepared for Bitcoin’s potential ascent into six figures, with prominent players such as VanEck CEO Jan van Eck estimating the cryptocurrency’s value at half of gold’s total, and Trump’s pro-crypto policies stimulating the market. This study examines the main factors that contributed to Bitcoin’s ascent, such as election-related factors, Trump’s changing views on cryptocurrencies, and optimistic market projections.

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Bitcoin Reaches New High: $300,000 on the Horizon?

Bitcoin reached a record-breaking $80,000 on Sunday, fueled by a post-election rally following President-elect Trump’s victory and a strong stock market. Investors are now speculating if the cryptocurrency will soon hit the $300,000 mark.

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The CEO of VanEck’s Audacious Forecast

According to Jan van Eck, CEO of VanEck, Bitcoin may one day be worth half as much as gold, or an estimated $300,000. He considers this amount to be a “reasonable base assumption” for the possible growth of Bitcoin.

2024 U.S. Election Sparks Crypto Surge

During the 2024 election, cryptocurrency was a key topic, with the crypto-betting site Polymarket providing a more accurate prediction of the election outcome than traditional polls. Vice President Kamala Harris promised to support digital assets, while Trump’s pro-crypto stance helped secure votes from the digital asset community.

Trump’s Shift in Crypto Strategy

Previously skeptical of Bitcoin, Trump changed his approach after his 2020 loss, embracing crypto to fund his re-election. His campaign efforts included selling NFTs, promoting Bitcoin-themed products, and pledging to make the U.S. a crypto hub. Trump even launched a new coin, World Liberty Fi, with his sons.

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The Predictions of Analysts: A Path to Six Figures?

Between $100,000 to $300,000, according to numerous analysts, Bitcoin will continue to rise when Trump assumes office. Trump’s pro-crypto stance may contribute to Bitcoin’s aspirational trajectory.

Trump-Themed Tokens Crash Post-Election

In brief, Trump-themed meme coins, such as TRUMP, MAGA, TREMP, and STRUMP, saw severe sell-offs after the U.S. election, losing more than 21% of their total market value as traders pulled out of the hype.

Election Day Drop for Trump Tokens

After the election, tokens themed around Donald Trump, such as MAGA and STRUMP, suffered major losses. The largest among them, MAGA, plunged by over 50% within 24 hours, taking its market cap from $212 million to $79 million. The sudden decline illustrates a classic “sell the news” response seen often in speculative assets.

Patterns of Meme Coin Hype and Sell-Off

Around well-known events, meme coins frequently experience abrupt sell-offs and quick increases. This is similar to Dogecoin’s 2021 trend, when it surged before Elon Musk’s SNL appearance before plummeting when the excitement subsided. Similar patterns were seen with Trump-themed tokens, where enthusiasm subsided nearly instantly following the election’s outcome.

PolitiFi Tokens in Decline

PolitiFi tokens—meme coins linked to political figures—have shown a trend of rallying pre-event and crashing post-event. Despite Trump’s election victory, these tokens dropped, suggesting waning interest among traders as the initial hype subsided.

Money Moves Into Big Cryptocurrencies

The decline in Trump-related currencies coincides with a market upswing, and money is probably moving toward Bitcoin and other well-known altcoins. In anticipation of future market expansion in popular cryptocurrencies, many traders seem to be shifting their liquidity into more stable assets as Bitcoin continues to reach new highs.

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Polygon Jumps 40% in a Week – Is a Push to $0.45 on the Horizon?

Polygon’s token POL has shot up by over 22% this past week and market vibes show it could climb even further and possibly hit that $0.45 mark soon. Analysts are debating on where this token is headed next. Crypto analyst Man of Bitcoin believes on its potential for more gains pointing to an Elliott wave 5 pattern that could mean another push up.

Polygon, also known as POL or MATIC is a very popular cryptocurrency and blockchain network designed specially to make Ethereum based projects more fast and cheap. Polygon assists on solving these problems through its “sidechains”, which are basically a chain of mini-networks running alongside Ethereum to handle transactions more efficiently. Additionally polygon tech also helps in development in DeFi apps, NFTs, and other projects without worrying about high fees. It is widely used by developers as it makes things much easier and it has a strong community supporting it.

POL token is on a uphill ride recently, with reaching over 40% gain in a single week. A Crypto analyst Man of Bitcoin says Polygon still has room left to rise, highlighting what’s called an “Elliot wave 5 pattern”. This pattern basically means a signal in technical analysis that hints the asset might be heading for another rally. In simple terms, it breaks through price movements into 5 different waves with the final “wave 5” often marking a strong push upward before any cooldown. So, if this works out POL can experience another boost pretty soon.

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Polygon Price Outlook

As the time of writing, Polygon’s token MATIC is priced at $0.4146  with a 24 hour trading volume of $23,890,287. This indicates an impressive 9.31% rise in the past 24 hour and an amazing 40.33% rise in the last seven days. It currently holds a circulating supply of staggering 2.6 billion MATIC tokens and covers a market capitalization of about $1.07 billion. Backed by its recent positive rise, its placed comfortably at the 92th position in worlds top crypto list.

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