Category: Market Insights

XLM Price Forms Rare Pattern as Stellar DeFi TVL Hits Record High

XLM made a strong comeback on Nov. 27, forming a bullish engulfing pattern after a dip. Stellar’s DeFi TVL hit a record $56M, and total assets are close to $300M, boosted by the Franklin Templeton fund. If XLM stays above $0.50, it could test its yearly high.

Big move for XLM! On November 27, the price shot up, forming a bullish engulfing pattern. That’s a strong sign that things are turning around after a recent dip. This comeback absolutely reversed a two-day slump that had put XLM in a mini bear market. But it didn’t just stop there; the whole crypto market, including Bitcoin, had a nice little bounce back too.

Here’s the cool part: Stellar’s DeFi ecosystem is absolutely thriving. Stellar’s total value locked (TVL) in DeFi hit an all-time high of over $56 million. On top of that, assets across Stellar’s ecosystem are pushing close to $300 million, with the Franklin Templeton OnChain US Government Money Fund holding over $400 million. Not too shabby, right?

This price surge also comes with some good news on the regulatory front. U.S. courts have been more friendly to crypto recently. A ruling found that Tornado Cash sanctions went too far, and last year, a judge ruled that XRP wasn’t a security. If things keep going this way, some are even speculating that we might see a Spot XLM ETF in next year.

Now, if XLM stays above $0.50, it could keep climbing, possibly even testing its high for the year at $0.6370. But, there’s always a catch, this recovery might just be a “dead cat bounce,” meaning a short-term surge before a drop. If it dips below $0.4168, then its super bad as it will not have any chances of bouncing back.

Either way, the XLM chart is looking interesting, and Stellar’s ecosystem is definitely making waves. Keep an eye on it—XLM might just be gearing up for a major run.

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Bitcoin OGs Stay Cool While Newbies Cash Out $2B in One Day

Summary: 

Gen Z, you already know Bitcoin’s been flexing hard, almost hitting $100K. But while the FOMO squad is scrambling, the OGs are chilling. Here’s the tea: long-term Bitcoin holders (aka diamond hands) just locked in over $2 billion in profits in a single day. But not all hodlers are rushing to cash out. Let’s break it down.

Recent data from Glassnode indicates that most Bitcoin selling activity is being driven by newer holders, specifically those who have held their coins for 6-12 months. These so-called “semi-diamond hands” accounted for 35.3% of recent sell-offs. Meanwhile, long-term Bitcoin investors, often called “OGs,” are maintaining their positions, likely waiting for higher prices before considering any moves.

Some analysts suggest that institutional investors, who entered the market following the launch of Bitcoin exchange-traded funds (ETFs), are among those cashing out. These players may be locking in profits after riding the initial hype wave surrounding ETFs.

The ETFs themselves are showing signs of strain, with over $550 million in net outflows recorded over the past two trading days. This coincided with Bitcoin’s price retreating from near $99,000 to around $90,800. Adding to the market’s turbulence, MicroStrategy, a corporate giant with significant Bitcoin holdings, saw its stock price plummet by 35% after reaching a peak on November 21. Despite the setback, the company remains steadfast in its bullish stance, continuing to increase its Bitcoin reserves.

As the market navigates this phase, a clear divide is emerging between speculators locking in profits and seasoned holders exercising patience. Whether Bitcoin can break past the $100,000 mark remains uncertain, but all eyes are on its next move.

Jupiter Launches Voting for Huge ‘Jupuary’ Airdrops on Solana

Jupiter’s “Jupuary” airdrop on Solana is about to begin. 700M $JUP tokens are already up for vote as we write. The main objective is to encourage decentralization and the overall community involvement. A significant precedent for DeFi governance will be set after the first round goes live if the vote reaches 70%. This November is the last day to vote.

Jupiter, the decentralized exchange on Solana, just kicked off voting for its massive “Jupuary” airdrop. Its set to give away 700M $JUP tokens in two rounds. The goal is to get the community involved and make governance more decentralized. To move forward, the vote needs at least 70% approval from the community.

Voting is happening right now (Nov 25–29) and is already making history. This is the first-ever DAO vote with live and verified feedback from real voters. If it hits the 70% mark, one round of token distribution will go live, with more rounds depending on future votes.

The whole point of this is to give the community more power and make $JUP a key player in DeFi governance. While this isn’t Jupiter’s first airdrop, it’s by far the biggest. Everyone’s watching to see if this sets a new bar for large-scale token drops.

Following a huge $1.4 billion worth of $JUP tokens up for grabs now, and the vote still ongoing, this endeavor may be setting a new benchmark for decentralized enterprises. If successful, it will undoubtedly strengthen $JUP’s position in the Solana ecosystem and increase overall community involvement.

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MicroStrategy Acquires 55,500 BTC for $5.4 Billion

Summary: MicroStrategy just bought an outrageous amount of Bitcoin and has positioned itself as the top of the top corporate Bitcoin holder with a historic and monumental purchase of 55,500 BTC for $5.4 billion. This purchase made possible by a mix of debt offerings and equity sales, making this purchase the company’s largest and greatest Bitcoin investment yet.

Record-Breaking Bitcoin Purchase

MicroStrategy bought an astonishing amount of 55,500 BC at an average price of $97,862 per coin in a span of just a week starting from November 18 and November 24. This is by far the largest acquisition of the company making its total holdings to 386,700 BTC. That amount of BTC is valued at over $37 billion.

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Funding Through Capital Initiatives

This purchase was only made possible by significant capital raising efforts as already briefly explained in the summary section above. The efforts include a $3 billion debt offerings and $2.46 billion from equity sales. However this wasn’t done without any plan as MicroStrategy has outlined a $42 billion capital plan over three years to support further Bitcoin acquisitions.

Strategic Performance Metrics

MicroStrategy uses a proprietary “Bitcoin Yield” indicator to measure performance. As of November 24, its year-to-date Bitcoin Yield stands at 59.3%, showcasing strong growth while managing share dilution.

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Rumble to Invest $20M in Bitcoin for Strategic Expansion

Summary: After the recent valuation boom for Bitcoin several companies, industries and platforms have started investing in Bitcoin or use it as a financial reserve. Following this trend a Video-sharing platform widely known as Rumble has announced plans to allocate up to $20 million in Bitcoin as a part of its strategy to make its corporate treasury diverse and open a broader opportunity in crypto.

Rumble Embraces Bitcoin for Growth

The news of Rumble allocating up to $20 million of its reserves to bitcoin was revealed or said out in a blog post on Nov. 25. Chris Pavlovski, CEO of Rumble used Bitcoin’s current boom, it’s resistance nature against inflation including its independence from monetary polices as key reasons while going through with this decision. Rumble plans to position itself on a greater place in crypto space through these type of strategic investment.

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Flexible Investment Strategy

This strategic approach by Rumble is very flexible and came at the company’s discretion. The timing of this allocations strategy seems unclear as BTC has slowly started to slow down compared to past week but the company emphasized its ability to pause or modify the strategy as market condition evolve.

Part of a Broader Trend

Rumble isn’t the only company or enterprise to join allocate BTC in its business or make BTC as their financial reserves but Rumbles joins companies like MicroStrategy, Genius Group and Anixa Biosciences that are adding and integrating Bitcoin into their financial strategies. This recent trend shows the growing interest of institutions which reflects Bitcoin’s potential as a long-term asset and inflation hedge.

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WBTC Flash Crashes on Binance Below $6K After Coinbase Delisting

Summary: Just days after Coinbase stated that it was delisting Wrapped Bitcoin (WBTC) owing to liquidity issues, the price of WBTC fell to $5,209 on Binance before rising to $98,000.

Sparks of Uncertainty in a Flash Crash

BitGo’s WBTC saw a precipitous 95% drop on Binance on November 23; in less than an hour, it went from $98,500 to $5,209. The cause is currently unknown, and neither BitGo nor the WBTC team have provided an explanation. This comes after Coinbase said that it would delist WBTC on December 19 due to liquidity issues.

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Growing Competition in Wrapped Bitcoin

Coinbase’s entry into the market with its competitor token, Coinbase Wrapped Bitcoin (cbBTC), intensifies the competition for WBTC. Kraken has also launched its version, kBTC.

The delisting comes amid strained relations between Coinbase and Justin Sun, involved with WBTC via a BitGo joint venture. Sun has criticized Coinbase for failing to provide proof-of-reserves for cbBTC.

WBTC’s Role in DeFi

WBTC, which was introduced in 2019, tokenizes Bitcoin in order to facilitate liquidity in systems that use decentralized finance (DeFi). Its market capitalization is close to $14 billion, and it is correlated 1:1 with Bitcoin.

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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

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.

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