Tag: Blockchain

VanEck’s Sigel Projects Bitcoin Price Base Case of $180K for 2025

Briefly, Bitcoin shows no sign of stopping and still continues its strong bullish trend, with experts and analysts strongly expecting further and more gains in upcoming quarters. Matthew Sigel who’s head of digital assets of widely known VanEck shares his point of view of bitcoin having $180,000 base case price in 2025, citing pro-crypto policies and technical indicators, which to us mere mortal seems absurd.

Pro-Crypto Sentiment Boosts Bitcoin Outlook

Since Bitcoin managed to hit all-time high of over $90,000 and an outstanding performance of 115% gain, investors and even crypto enthusiasts have their interest peaked. VanEck’s Sigel in his recent CNBC interview had only positive things to say about current Bitcoin rampage. Sigel not only had positive things to say about this Current raid boss of cryptocurrency i.e. Bitcoin, but he went ahead and stated that he and his firm expects Bitcoin’s price to continue to break all limit with a base projection of $180,000 for 2025.

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Analyst Predictions Mixed Amid Bullish Signals

Even though Bitcoin seems to be on a rampage right now with nothing to stop its advance some analysts are still skeptical and don’t seem to believe the data provided by Polymarket which suggests a 56% chance of bitcoin reaching $100,000. However, Critical Analyst might be somewhat correct because we’ve also covered similar topic of Bitcoin and Ethereum being overbought which could potentially cause a short term decline.

Yei Finance Partners with OEV Network to Boost Oracle Extractable Value on Sei Blockchain

Yei Finance, something that’s widely renowned as the largest money market on Sei blockchain has finally combined with OEV Network with the aim of enhancing their recaptured maximum extractable value (MEV) for its loyal users. This collaboration will surely leverage OEV’s layer-2 solution, which primarily focuses on capturing oracle extractable value which benefits users with improved data feeds and capital efficiency.

Enhancing Liquidity and Innovation on Sei

Yei Finance mainly partnered with OEV Network because OEV Network combined with AP13 powered data feeds helps to recapture MEV, unlock new growth and liquidity for the platform. AP13 recently stated the collaboration on Nov.12, focusing on the point that Yei Finance’s partnership will enable the Sei lending platform to offer expanded liquidity options and capital efficiency across various assets.

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Supporting Growth in Decentralized Finance

This collaboration makes strengthens Sei’s Defi market by improving lending and borrowing effectiveness and efficiency. Yei Finance is based on Aave V3 framework, provides and makes lenders happy with reward program launched in June. It’s Total Value Locked (TVL) has seen significant growth lately, so much so that it managed to reach $338.6 million, as per the information given by DeFiLlama. In comparison to others, Aave V3 still remains one of the largest DeFi lender with TVL exceeding $26 billion which is a huge amount. Highlighting Yei’s rapid and drastic growth within Sei ecosystem.

By making fair use of OEV Network’s capacities, Yei Finance seeks to pull more users and enhance Sei’s DeFi ecosystem.

UK Unveils Crypto Regulations to Rival US Leadership in Blockchain

United Kingdom just came up with new rules this month, focusing more on stablecoins and staking. This act is all to stay relevant with Trump’s pro Bitcoin US. Some delays have put them behind but there is still a shot to lead if they move fast enough. Clear regs = more crypto startups staying in the UK.

UK government is planning to introduce new crypto regulations this month to reassure businesses and especially to compete with Donald Trump’s sharp progress in crypto firms with a clear stance on the sector. A report says, UK treasury will reveal two pieces of legislation which are primarily focused on stablecoins and its staking services.

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The major step up by UK comes with new crypto rules for stablecoins and staking to keep up with Trump’s crypto-friendly US and the EU. Stablecoins will get industry input on rules, and staking won’t face heavy regulations anymore. There are delays however, that have put the UK behind, but there’s chance for bounce back as there’s plenty left for them but they must act fast. With newly elected president Trump hyping up Bitcoin reserves and mining, United Kingdom needs clear and chill regulations to keep crypto status from bouncing.

Crypto Launderer Pleads Guilty in $73M Scam, Faces Major Sentencing

In brief, A Chinese-American dual citizen, Daren Li, admitted his crime in California federal court on Nov. 11 for laundering proceeds from a $73 million crypto scam. He admitted to his role of being included in directing shell company accounts to hide the origins of stolen funds from unsuspecting investors.

Scheme Specifics and Cash Flow

Daren Li acknowledged that, between August 2021 and April 2024, he defrauded victims of millions of dollars by operating a cryptocurrency investment scam that included pig butchering. In order to launder the money, Li used to advise others to open bank accounts in the United States using shell corporations. The money was thereafter converted to Tether (USDT) and transferred to digital wallets under the control of the powerful individuals.. As per the court details, a single walled linked to the scam had received over $340 million which is just an absurd amount to even think of. Further more the filing said.

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Authorities Take Action

After being arrested at Atlanta airport in April, Li alongside his co-worker Yicheng Zhang, who was detained in Los Angeles were charged in May. Authorities noted that $73.6 million went swiftly and directly into accounts linked to the scheme, while $59.8 million flowed through U.S. shell companies created to further disguise the assets.

Upcoming Sentencing and Financial Penalties

Li’s sentencing has been scheduled for March 3, 2025 where he potentially faces upto 20 years in jail including about three years of supervised release and $500,000 fine. This doesn’t end the punishment because he may also be ordered to pay victims the amount they were scammed off which amounts to about $4.5 million and $73 million.

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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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Bitcoin Trading Volume Reaches All-Time High on Retail Demand

In short, After the recent U.S. election results, Bitcoin reached it’s all-time high and hit a record-breaking trading volume of $170 billion as retail interest increased. Following the promises made by Donald Trump to establish a crypto-friendly environment in the United States, retail excitement around bitcoin.

Record Volume and Price Surge

Trading volume of Bitcoin crossed over $145 billion in just past 24 hours, marking an all-time high and exceeding prior peaks seen earlier this year. According to the date provided by Coingecko, Bitcoin’s volume continued to grow and for a short period of time crossed $170 billion as it hit a new price record of $91,900

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Trump’s Win Spurs Retail Interest in Bitcoin

Matrixport analysts attribute the volume spike to increased retail interest following trump’s win, as his pro-crypto stance promises potential shifts in the U.S. regulatory landscape. Trump’s aim include creation of Strategic Bitcoin Reserve, making U.S. “crypto capital” and if possible replacing SEC Chair Gary Gensler.

Public and Institutional Interest Soars

Not only market value of bitcoin rose but also it’s popularity, since google searches for Bitcoin rose to five-year high, up to 78% reflection widespread interest. That’s not all because spot Bitcoin ETFs also saw inflows of over $4.2 billion, helping drive the cryptocurrency’s recent rally. Based on Matrixport’s analysis, retail-driven trading volume could sustain Bitcoin’s momentum for weeks or even months.

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Thailand Busts Illegal Bitcoin Mining Rigs; Charges Two for $280k Electricity Theft

Briefly, Two suspects were arrested by Thai authorities for allegedly stealing over $280,000 in electricity for unauthorized Bitcoin Mining. This arrest mission led to the discovery of nine illegal and unauthorized mining sites in Surat Thani province. This issue showcases a growing problem of unlicensed crypto mining in Thailand.

Details of the Crackdown

The central Investigation Bureau and the Provincial Electricity Authority on Thailand raided nine illegal, unauthorized and unlicensed mining sites after a tip from a local resident about suspicious CCTV cameras. During investigation authorities stumbled upon modified electricity meters used to bypass legal power consumption, saving operators hundreds of thousands of dollars.

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Thailand’s Stance on Crypto Mining

Bitcoin miners are considered manufacturers in Thailand and need to pay tax. However, illegal mining operations have significantly increased, with several busts in 2024 alone. Having said so, Thailand remains to attract crypto business due to its progressive approach to digital assets.

Thailand’s Growing Crypto Appeal

Thailand is globally considered as a top market by Binance, with a mind blowing 12% local crypto penetration rate. Authorities recently launched a Digital Asset Regulatory Sandox to help improve innovation in crypto service, allowing companies to operate under flexible and feasible guidelines aimed at making the country’s digital asset sector strong.

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Crypto Market Sees $650 Million in Liquidations as BTC and ETH Enter Overbought Zone

In short, the crypto market has experienced a steep increase in volatility over the past 24 hours, with total liquidations reaching $650 million. This has caused Bitcoin and Ethereum to reach overbought zone, signaling a potential market cooldown.

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Crypto Liquidations

Liquidations Spike Amid High Volatility

Coinglass provides data that shows the total liquidation have surged 70% in a day, with total amount of $650 million — $366 million in long position and $284 million in short positions. Bitcoin and Ethereum being face of crypto market, among other major cryptocurrencies are showing signs of an overbought market, which may bring forth a cooldown in their recent bull run.

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Bitcoin and Ethereum in Overbought Zone

Bitcoin recently reached all time high of $89,600 with it’s RSI hitting 75, a level that indicates it may be overbought. Ethereum also saw similar activity and reached it’s peak $3,241 before experiencing a gradual decline with it’s RSI standing at 74. This unusual and shocking activity suggests potential short-term volatility.

Market Sentiment and Speculation

After Bitcoin and Ethereum hit their all-time high, Experts are on the side of the bull-run’s sustainability. Cameron Winklevoss believes that this market cycle is being driven by institutional investments rather than retail. On the other hand, CryptoQuant CEO Ki Young Ju warns that the future crypto market may be bearish and overheated for 2025.

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Kaiko Acquires Crypto Index Provider Vinter to Boost European Market

In brief, Kaiko is a Paris-based blockchain data firm and it has acquired European crypto index provider Vinter to strengthen its position in the European exchange-traded product market. This asset will surely help Kaiko meet the demands from the rising institutions for crypto indices, following the recent success of U.S. Bitcoin ETFs.

Acquisition Expands Kaiko’s Reach in European ETP Market

Kaiko, A Paris-based blockchain analytics firm has stated the acquisition of Vinter, a European crypto index provider. This strategic acquisition is done with the expectation that the assets received would provide necessary support, aligning with the company’s broader goals of consolidating regulated crypto financial products.

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Responding to Institutional Demand

Kaiko acquiring Vinter is a response to increasing demand from organizational clients for reliable crypto indices. After the launch of U.S. spot Bitcoin ETFs earlier this year, Kaiko intends to cater to European investors looking for regulated crypto-based financial products which can hopefully fulfill rising demands.

CEO’s Vision on Expansion

CEO of Kaiko, Ambre Soubiran expressed how important the acquisition is, stating that it enables the company to widen it’s product portfolio and serve a broader global clients. Despite the financial details of said acquisition being hidden, Kaiko claims it’s their third and largest acquisition to date.

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Past Acquisition to Strengthen Analytics Offerings

Kaiko has has three acquisition to this day. Kaiko has previously acquired Kesitys in April 2022 with the intention of supporting quantitative analytics unit and purchased Napolean Index from CoinShares in June, further expanding its data service. Kaiko is not a rookie on the blockchain game, founded in 2014, Kaiko gives data on pricing, trade volumes and blockchain analytics serving both institutional clients and exchanges.

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