Category: Market Insights

NEAR Surges 42%, Nearing $20 Mark with Deutsche Telekom’s Support

NEAR’s price has managed to pop by over 42% this week. This recent pop led the token to near a $20 mark which is also said to be highly assisted by the involvement of Deutsche Telekom as a validator. This collab also overall boosted blockchain adoption hype. It currently holds a $1.6B trading volume and solid support at $2.74. Analysts are predicting NEAR hitting $15-20 in 3-6 months.

NEAR protocol is on a bullish ride right now and the momentum doesn’t seem to slow down any time soon. Over just past seven days, this token has managed to surge by over 42%. Coincidently so, they had made a massive collaboration with a German Telecommunications firm  Deutsche Telekom, which was said to support NEAR protocol in coming days.

Read more about their partnership: Deutsche Telekom Partners with Meta Pool to Advance Decentralized AI on NEAR Protocol

In short, NEAR’s like the ultimate plug-and-play blockchain for building DApps that can handle millions of users while, Deutsche Telekom is all about decentralization and keeping your data yours, so this collab just vibes perfectly.

While this partnership was buzzing all over with good vibes, the token still dipped by 5% in the past 24 hours. landing at $5.16, but no biggie as graph shows it is still up by 42% this week. Trading volume also hit a wild $1.6B, meaning investors are all over it. NEAR’s overall market cap is now $6.2B, with $1.2B tokens circulating.

The charts are giving traders a lot of information, at the fire support level of $2.74, buyers continue to intervene. On the other hand, NEAR needs to break beyond the $6.20 barrier in order to make more money. According to analysts, if it breaks that, it might soar to $15–$20 within the following three to six months.

Read more: Thumzup Allocates $1M for Bitcoin Treasury Reserve

ADA Jumps More Than 21% After Hoskinson Drops Exciting Hint

ADA price just shot up by 21% and hit $0.75 all thanks to Charles Hoskinson. His mysterious meetings with Elon Musk’s SpaceX team is the reason behind this surge. With a 70% weekly gain, ADA’s market cap is over $26.5B. To add fuel to the fire, Cardano’s growth and Hoskinson’s comments are constantly backing it up.

ADA is a native cryptocurrency of Cardano, which is a well known decentralized platform designed especially for building smart contracts and dApps (decentralized applications). It was founded by Charles Hoskinson, one of Ethereum’s co-founders, and he has been attending mysterious meetings with Elon Musk’s SpaceX team. Many speculate this to be the main reason behind this sudden surge of ADA token.

This token from Cardano has skyrocketed over 21% in just 24 hours, which led it to ultimately reach $0.75. This mark wasn’t taken since March. Now with their weekly gain nearing 70%, ADA’s market cap has exceeded $26.5 billion and its by a massive 24-hour trading volume of nearly $5.8 billion.

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This surge is all thanks to Charles Hoskinson’s cryptic vibes. In a video posted on X, he teased a recent visit to SpaceX to chat with Elon Musk’s crew themselves. While the deets are still locked behind an NDA, he has already dropped hints about some major moves, sending the Cardano fam wild.

This hype about Cardano growth is real and Hoskinson is keeping the optimism high by constantly calling the Cardano community the best. Looks like ADA’s momentum is only picking up as we wait for more drops!

Thumzup Allocates $1M for Bitcoin Treasury Reserve

Summary: Thumzup which is a Los Angeles-based Media Corporation is taking it’s initial step into the crypto world by allocating up to $1M of its treasury to Bitcoin. Robert Steele who’s the CEO of the said company said Bitcoin’s growing institutional acceptance and it’s recent bullish momentum were taken into great consideration while making this decision.

Thumzup Embraces Bitcoin

A social media marketing firm, Thumzup Media Corporation just recently announced to make their treasury diverse by diving deep into the crypto space. Their initial plan includes purchasing up to $1M in Bitcoin. As CEO himself explained, The inflation resistant and finite supply characteristics of Bitcoin really caught their eyes and the company views it as critical advantage for a long-term store of value.

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A Growing Trend in Treasury Assets

Thumzup isn’t the only particular company to do this, recently larger and larger trend of companies are embracing Bitcoin as a reserve asset more than a liability. Just few days ago Pennsylvania’s Bitcoin Strategic Reserve Act also highlighted the increasing interest in integrating Bitcoin into tradFi as it serves as a valuable asset.

Aligning with a Digital Future

Thumzup now joins the group of cool companies which have integrated crypto into their business or in their firm for long-term profit and now people have started considering these companies as “forward-thinking business”. This move goes hand to hand with rising optimism from figures like Senator Cynthia Lummis, who is a crypto witch and envisioned Bitcoin playing a greater role in financial strategies nationwide.

XRP Rallies 15% as Speculation Grows Over Gary Gensler’s Exit

XRP price is pumping loads right now, as it just surged by 15% in 24 hours, hitting $0.8177, riding on SEC Chair Gary Gensler exit rumors and Trump’s pro-crypto vibes. Even add Société Générale’s stablecoin launch on XRP Ledger and its no shocker XRP is definitely dominating while Bitcoin and Ethereum lag a bit. Analysts are hyped for $1+ targets.

With a 15% increase in the last day, XRP, a native cryptocurrency from the XRP Ledger (XRPL), is rapidly gaining traction. It is now the best-performing asset among the top 100 cryptocurrencies, trading at $0.8177. As its seven-day gains reached 49%, a level not seen since July 2023, this rally kept getting stronger. The market sentiment seems to have positive insights in light of this news.

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This major factor for hype is all thanks to a rumor of big changes coming soon to the SEC. Talks are swirling all over that SEC boss Gary Gensler might step down, this especially came up after a note about his time in charge. With Trump also eying over a second term, the crypto world is completely hyped over a potential regulatory shake-up. They’re betting Gensler’s exit could mean the SEC drops its Ripple appeal and finally end that never-ending court drama.

Trump’s promise to fire Gary Gensler has sparked rumors across crypto community about him resigning earlier than expected. There’s also this buzz about Trump cutting crypto capital taxes which is fueling the hype even more. Société Générale’s euro stablecoin on XRP Ledger adds to the action.

While some of the big names like Bitcoin, Ethereum and Solona are facing minor dips, XRP’s breaking through everything and is sharply targeted towards $8 all thanks to this future market buzz.

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Greenidge Generation Wins Legal Battle to Operate in New York

Summary: Greenidge Generation which is a bitcoin mining company secured a grand and difficult legal victory allowing it Dresden, New York, facility to continue operations. The New York Supreme Court ruled against the state’s department of Environmental Conservation (DEC), calling its falsehood of Title V Air Permit “arbitrary and capricious”. This is a good indication for other mining companies facing such problems but if there’s a problem it must go to legal standpoint and be won like the one Greenidge had.

Court Clears the Way for Greenidge

Greenidge won the legal battle as the New York Supreme Court overturned the DEC’s denial of Greenidge’s air permit, showing a lack of rational basis for its decision. Judge Vincent Dinolfo openly and boldy criticized the DEC’s interpretation of the Climate Leadership and Community Protection Act (CLCPA), which makes sure Greenidge can work without anyone and anything to interuppt, this might just prove to be the most significant win Greenidge has had over the time.

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Legal Battle Overreach

Greenidge had it’s initial plans set as its fresh argument included criticizing DEC for overstepping its authority by denying the permit despite the facility’s following the laws, which shines a truly negative light on DEC. The company stayed on its ground and won the ruling for ” facts and the rule of law” over “politically motivated governmental overreach.”

Looking in the future

This ruling marks Greenidge’s not first not second but seventh favorable decision on operational matters. The company still aims to conduct a partnership with the DEC on a new permit while also improving its contributions to the locals and the economy through job creation and electricity generation. This is a very fascinating case and also a case where everyone can learn something as this case highlights tension between environmental policies and industrial development in New York.

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Michael Saylor Predicts Bitcoin’s Rise to $100K Under Trump’s Pro-Crypto Administration

Summary: Widely known personality in crypto space, Michael Saylor says Bitcoin will hit $100,000 by the end of the year as he believes this run is fueled by President-elect Trump’s pro-crypto rules and the dominant presence of Republican in Congress. Saylor himself has a company which holds a massive number of BTC, to be exact the number is 279,420 and it attributes Bitcoin’s current rally to a great political shift for digital assets.

$100,000 Bitcoin by New Year’s Eve

Michael Saylor is very confident that BTC will hit $100,000 before the end of this year and he very happily says he’ll also organize a celebratory party at his home for this incident. He also strongly disagreed with people who still believe BTC will dip below $60k after this drastic surge by stating that BTC is still on a solid upward trajectory as it hit $93,400 following the U.S.CPI report.

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Political Tailwinds for Crypto

Michael Saylor give complete credit of this insane BTC surge to President-elect Donald Trump and Republican-led Congress. He even goes so far and calls this the “biggest thing for Bitcoin” in years. He doesn’t stay put on present but also predicts a wave of pro-crypto policies and frameworks that will strengthen the digital asset industry.

MicroStrategy Double Down

MicroStrategy with a strong base and strategy for future increased its BTC holdings to 279,420 tokens, investing an absurd additional amount of $2.03 billion. Saylor still remains positive about the bullish momentum of Bitcoin, majorly speaking about its leadership in the ongoing crypto market, which has contributed so much to the lifting of altcoins like Ethereum, Solana and meme coins.

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Prosper Secures Funding from BIT mining for Bitcoin Mining Protocol

Summary: BIT Mining has invested on a Decentralized Bitcoin mining protocol named Prosper. This is done with the aim of advancing its mission to give institutional-grade mining energy and liquidity farming. This isn’t the first investment announced on Nov. 14 but is the second in two weeks. This investment is following backing from Waterdrip Capital. This exciting news has surged the price of Prosper’s native token, PROS by 7%.

Strategic Investment from BIT Mining

BIT Mining has donated a strategic investment to Prosper, which is famously known for giving out hashrate-backed tokens linked to Bitcoin mining power which is truly a positive steps towards better crypto ecosystem. Prosper and its team knows how important this investment is and sees this as a significant endorsement of its vision to bridge Bitcoin mining to blockchain.

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A Growing List of Investors

Prosper got it’s first investment from Waterdrip Capital which is a capital firm in the blockchain space and BIT Mining’s the second investment. This sudden increase of institutional support has surged Prosper’s token, PROS to $0.52 following the most recent investment.

Future Benefits for Token Holders

If we are to look ahead in the distant future, Prosper needs PROS token holders to engage themselves in protocol governance through either voting for BNB Chain or Ethereum. The participants won’t return home empty handed as, those who participate will be eligible for unique and exciting staking rewards, moreover boosting Prosper’s appeal to long-term investors.

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Pennsylvania Looks to Build Bitcoin Reserve

Synopsis: A latest bill has been proposed to invest state funds in Bitcoin in Pennsylvania’s legislature which is being led by the one and only Mike Cabell. This Pennsylvania Bitcoin Strategic Reserve Act would allow the corresponding state to fight against rising and terrifying inflation by allocating a maximum of 10% of certain funds into Bitcoin. This initiative signals rising interest in crypto as a strategic asset across the great U.S.

State Pushes for Bitcoin Reserve

The latest legislative move done by Pennsylvania wants to make Bitcoin which is a booming cryptocurrency right now into a part of the state’s financial strategy. This idea planted by Representative Mike Cabell, the bill, now known as the Pennsylvania Bitcoin Strategic Reserve Act. This act this act of brilliance into the crypto space proposes investing up to just 10% of key state fund which also includes the Rainy Day Fund in Bitcoin. Cabell very boldly claims and strongly believes that Bitcoin is the future and could provide an economic buffer in difficult times.

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Bitcoin as a Safety Net

One of the current global problem includes inflation and U.S. is no different as inflation still remains a rising concern, Cabell in the mist of all this trouble suggests Bitcoin as a helping hand hoping to stabilize the state’s economy. Notable and reputed players like BlackRock and Fidelity continuously investing in Bitcoin offer a hint of the asset’s potential to diversify and bring hard resilience to portfolios.

National Shift Toward Crypto

This start from Pennsylvania goes hand to hand with a broader pro-Bitcoin sentiment across the United States right now. as the call for a national digital asset framework grows day by day. The bill came after Pennsylvania’s recent Bitcoin Rights legislation. which passed the House and showcases residents’ rights to securely hold digital assets.

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Google Cloud Partners with ZetaChain to Enhance Cross-Chain Connectivity

Google could is on a collaboration streak right now, after very recent collaboration with BNB, Google cloud has again partnered with another company named ZetaChain with hopes of advancing ZetaChain’s Universal Blockchain initiative, which supports the development of cross-chain decentralized applications (dApps) capable of operating on any blockchain network.

Enabling Universal Blockchain Applications

Universal Blockchain of ZetaChain allows developers to construct “Universal Apps” that can smoothly communicate and interact across several blockchain, which includes Bitcoin and Ethereum. This cross-chain model aims to enhance accessibility by enabling applications to operate without same old traditional and typical restrictions seen in isolated blockchain environment. With the help of this partnership, Google cloud will act as a validator for ZetaChain promising secure transactions and supporting network scalibility.

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Strengthening the Network with Native Token Delegation

ZetaChain also aims to reinforce the ecosystem by delegating 1 million of it’s native tokens to support five validators on Google Cloud’s infrastructure. This delegation will essentially fund validator activities that maintain network security and functionality, making ZetaChain’s Universal Blockchain more robust.

Supporting Developers with Cloud Resources

Developers who are building on ZetaChain will have access to Google Cloud’s wed3 Startups program, benefiting from cloud credits and infrastructure support. Google could will further add ZetaChain’s testnet faucet, allowing developers quick and easy access to test tokens for streamlined development and testing.

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This partnership follows Google Cloud’s recent $10 million investments in BNB chain’s Most Valuable Builder (MVB) accelerator program, which mirrors the companies commitment to foster dApps growth across multiple blockchain networks.

Google Cloud Invests $10M in BNB Chain’s Accelerator Program

Google Cloud will invest $10 million in BNB Chain’s Most Valuable Builder (MVB) accelerator. MVB is a four week long program created to help and support the growth of decentralized applications (dApps) on BNB chain. This news was announced on November 12, the injection aims to advance AI projects and web3 by providing resources and credits to promising startups in the blockchain space.

Empowering dApps Developers on BNB Chain

Google Cloud aims to support up to 40 web3 startup programs over the next two years with the help of this partnership. The MVB, led by BNB Chain along side Binance labs and CMC Labs, enables developers and founders to build and scale decentralized applications on BNB chain, making the ecosystem of decentralized finance, gaming and digital collectibles much more stronger and secure than ever. Projects which get selected can access resources like cloud credits, valued at $200,000 for web3 projects and up to $350,000 for AI focused initiative which is a step in the right direction for the blockchain environment.

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Broadening Blockchain Collaborations

Google Cloud’s partnership with companies like BNB shows it’s growing involvement in blockchain ecosystem as this is not the first or second time it has involved itself on digital market just this year alone. Some other notable collaboration includes MANTRA chain, Flare and SUI. These strategic partnerships enables google cloud to enhance its already built infrastructure across blockchain ecosystem and also expand its reach into decentralized applications, metaverse and Non-Fungible Tokens (NFTs) projects.

Strategic Support for Emerging Startups

This investments aren’t desperate but are perfectly planned which emphasizes Google Cloud’s commitment to fostering innovation in the decentralized tech space. Latest support from Cronos Chain, where Google Cloud now act as validator, highlights its tole in advertising blockchain based projects, providing infrastructure, developer collaboration, and support to strengthen the global blockchain landscape.

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