Tag: Cryptocurrency

XRP Futures Open Interest Skyrockets to $3.91B in Trading Volume

XRP just hit a major milestone, with its futures open interest jumping 17% to $3.91B. Binance leads the pack, while XRP’s futures trading volume surged 289% to $60B. Ripple’s global payment efforts and new products like RLUSD are pushing the hype. XRP is currently trading at $2.72, up 39% in a day.

XRP just made a huge splash, with its futures open interest skyrocketing 17% to $3.91 billion. Binance is leading the charge, handling $1.3 billion worth of contracts, making up 32% of the total market. Other players like Bybit and Bitget are also getting in on the action.

But that’s not all. XRP’s futures trading volume shot up 289%, hitting a massive $60 billion, while options open interest grew by 16.2%. Clearly, the market is buzzing with XRP hype.

Ripple’s push to make XRP a go-to for cross-border payments is fueling the momentum, with their On-Demand Liquidity (ODL) service being a big hit with financial institutions. Plus, the upcoming RLUSD stablecoin launch is adding fuel to the fire, offering easy, fast transactions worldwide. Rumors are also swirling about XRP’s possible connection with DeFi networks.

Despite the ongoing legal battles with the SEC, analysts are betting high on XRP. Some even think it could hit $3 soon while few are also predicting insane $5.34 by next year.

Right now, XRP is trading at $2.72, up 39% in just a day, with its trading volume spiking over 428%. It looks like XRP is on a major roll—let’s see where it goes next.

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Japan’s Metaplanet Offers Bitcoin Rewards to Shareholders

Summary: Metaplanet is spicing things up by making sure shareholders are rewarded with juicy Bitcoin through a lottery system. The Tokyo-based firm aims to boost engagement while flexing its partnership with SBI VC Trade.

BTC Perks for Shareholders

Tokyo-listed Metaplanet is flipping the script on shareholder benefits. The company just announced a Bitcoin reward program tied to its collaboration with SBI VC Trade, a crypto-focused subsidiary of SBI Holdings. Shareholders holding at least 100 shares by Dec. 31 can score Bitcoin prizes through a lottery. To join, participants need to register on a special site by March 31, 2025.

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A total of 30 million yen (~$199,500) in BTC is up for grabs, with prizes ranging from $66 to $664 worth of Bitcoin. It’s all about boosting shareholder vibes and getting more eyes on Bitcoin adoption.

Stock Pump and BTC Strategy

The announcement gave Metaplanet’s stock a 4.58% glow-up, hitting $16. The firm also plans to raise $62M via stock acquisition rights to bulk up its Bitcoin holdings for treasury management. CEO vibes? Forward-thinking, with a side of crypto innovation.

This move is yet another step in Japan’s growing embrace of Bitcoin, and Metaplanet’s pivot shows how traditional firms can make crypto rewards a win-win for shareholders and treasury goals.

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MicroStrategy Hits $38B in Bitcoin Holdings

Summary : MicroStrategy has boosted its Bitcoin stash to 402,100 BTC, now worth over $38 billion. CEO Michael Saylor continues championing Bitcoin as a corporate asset, inspiring other firms to adopt similar strategies.

Massive Bitcoin Buy

MicroStrategy just made waves again, acquiring 15,400 Bitcoin for $1.5 billion at an average price of $95,976 per coin. This brings the company’s total holdings to 402,100 BTC, valued at $38 billion with Bitcoin trading at $95,194. The company has spent $23.4 billion on Bitcoin since 2020, now sitting on $15 billion in unrealized gains thanks to its bullish bet.

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The BTC Playbook

MicroStrategy finances its Bitcoin purchases through share sales and securities issuance, tracking growth with its “BTC Yield” metric. Quarter-to-date, BTC Yield is at 38.7%, jumping to 63.3% year-to-date. This approach has greatly managed to inspire other aspiring companies which does include some big names, like Tokyo-based Metaplanet and Marathon Digital, to adopt similar strategies.

Saylor’s Crypto Crusade

Michael Saylor isn’t showing any signs of slowing down. Over the course of just few weeks he pitched Bitcoin to Microsoft bought a huge amount of BTC for MicroStrategy and also doubling down on his sole mission to push corporate crypto adoption. Meanwhile, Marathon Digital announced a $700 million funding plan to buy Bitcoin and manage debts, signaling a growing trend of institutional Bitcoin accumulation. MicroStrategy remains the king of corporate BTC treasuries.

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Genius Group Stacks $1.8M More BTC, Now HODLs $15.8M

Summary: Genius Group is a well known Singapore-based education and AI firm which has yet again added a huge amount of $1.8M worth of Bitcoin to its reserve, this isn’t the first time this company has added cryptocurrency to its reserve and most importantly Bitcoin. This addition of BTC brings its total to 172 BTC. The company’s “Bitcoin-first” strategy is part of a long-term plan to integrate crypto into its education platforms.

Genius Group Goes Bigger on BTC

Genius Group isn’t playing when it comes to Bitcoin. The Singaporean education and AI firm just dropped $1.8M to scoop up more BTC, now holding 172 coins worth $15.8M. CEO Roger Hamilton says this is all part of their bold “Bitcoin-first” strategy, where 90% of the company’s reserves will eventually be allocated to Bitcoin. At an average price of $92K per coin, Genius Group is flexing its commitment to making Bitcoin the backbone of its financial game.

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Bringing Bitcoin to the Classroom

This isn’t just about HODLing. Genius Group is leveling up by weaving Bitcoin into its education platforms, using blockchain tech for on-chain certifications and rewards powered by the Lightning Network. It’s a next-gen twist on traditional education, making crypto a key part of their vision.

Leading the Charge

After Huge addition done by MicroStrategy, Genius also didn’t shy away and joined the rank of Bitcoin Bull like said MicroStrategy and these type of companies have managed to set a fast growing trend of adding crypto especially Bitcoin as its reserve. . With $15.8M in BTC reserves, they’re not only hedging against economic shifts but also proving that education and crypto can be a match made in digital heaven.

South Korea Pushes Crypto Tax to 2027

Summary: South Korea had planned to take 20% take on crypto but it’s now been delayed to 2027 after rejecting calls to raise the tax threshold. Regulators cite the need for more preparation, giving traders a temporary break from taxation.

Crypto Tax Delayed Again

South Korea still seems indecisive about its crypto policies as it has yet gain hit pause on its crypto tax and for another time pushing the controversial 20% levy to 2027. This isn’t a recent news because Korea took this initiative and planned this all for 2021 and it kept on getting delayed and delayed and we’re talking about its yet another delay. Democratic Party leader Park Chan-dae confirmed both parties’ agreement to delay the bill, with a formal vote set for December 2, 2024.

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Low Threshold Sparks Pushback

There are several speculations that can be made but most the delays kept on happening because of debates over the allocated tax threshold. The delay followed a very heated debate over the tax threshold which is currently set at 2.5 million won ($1,781). The Democratic Party’s attempt to raise it to 50 million won ($35,633) was rejected. Crypto exchanges argued the low threshold would crush trading volumes, leading the government to side with delaying implementation.

The Road Ahead

As mentioned above, this isn’t the first time this policy has been postponed. This same policy has been postponed three times and for over 3 years now with officials still being indecisive over this but discussions around related policies, like inheritance and gift taxes, continue. Traders now have more time before the 20% tax impacts profits, with hopes of further revisions down the line.

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Algorand (ALGO) Surges 25% in a Day: On Track to Hit $0.75?

ALGO is popping off, jumping 25% in 24 hours and hitting $0.37 after a wild 205% monthly rally. Breaking past its $0.28 resistance, it’s got the vibe of a comeback king with bullish RSI and MACD signals. With Bitcoin nearing $100K, ALGO’s next stop might just be $0.75.

ALGO is stealing every spotlight, surging 25% in the past day to hit $0.37, its highest price this year. It’s been a wild ride tbh—just last August, ALGOdid hit rock bottom however, at $0.094, a 96% drop from its all-time high of $2.99 which was about 3 years ago. But now things are looking spicy as ALGO’s pulling a full complete 180, flexing a massive 205% gain this month.

So, one may wonder what’s behind this immense glow up? Well, first off, ALGO absolutely broke through the $0.28 resistance, a wall it’s been stuck behind since 2 years ago. This breakout is a big deal, showing off serious market confidence. Pair that with its double-bottom pattern (fancy chart talk for “things are looking good”) and four straight bullish weeks, and you’ve got a token that’s turning heads.

Even the techy signals are hyped.Given that the MACD is in the green and the RSI is over 50, ALGO may continue to rise. Plus, community excitement is also stoking the already raging flames as their ALGO Foundation India Summit approaches.

Not to mention the wider picture: Bitcoin is causing a stir about $100,000 and boosting the entire cryptocurrency sector. ALGO may soon be aiming for $0.55, and possibly even $0.75, if this bullish trend continues.

Continue Reading: Trump’s Crypto Crew Might Spark a U.S. DeFi Boom, Say Analysts

Trump’s Crypto Crew Might Spark a U.S. DeFi Boom, Say Analysts

Summary: As Trump promised with his pro-crypto nation policy, Us could be heading for a massive and drastic positive glow up in Defi. Several well known and knowledgeable analysts from Matrixport strongly believe that 2024 might not only be about Bitcoin potentially replacing gold and being “digital gold” but also the start of a full blown decentralized finance (DeFi) revival.

Trump’s Pro-Crypto Cabinet Takes Shape

Donald Trump’s picks for Treasury, Commerce, and possibly the SEC have crypto vibes written all over them. Howard Lutnick, tipped for Commerce Secretary, is a big stablecoin fan, while Scott Bessen, his likely Treasury Secretary, straight-up said, “crypto is about freedom.” Even Paul Atkins, a crypto-savvy lawyer and former SEC commissioner, is in the mix for SEC Chair. Together, these guys could flip the script on U.S. financial policy, putting blockchain tech and DeFi at the forefront.

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DeFi Renaissance Incoming?

Matrixport analysts predict that 2024 could bring more than just Bitcoin hype; we’re talking a full-on DeFi revival. Traditional finance might start vibing with decentralized apps to make payments and transactions smoother. If the U.S. goes all in, it could pressure other countries to embrace crypto too. The analysts also hinted at a “Strategic Bitcoin Reserve” being on the table.

The Bigger Picture

Beyond regulations, this shift could digitize the U.S. financial system, making crypto apps the real MVPs of the economy. Bessen’s call for tighter budgets might even boost Bitcoin buying as a hedge against uncertainty. If this squad delivers, we’re looking at a serious crypto glow-up in the States.

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Ethereum Co-Founder Jeffrey Wilcke Cashes Out 20K ETH Amid Market Surge

Summary: Ethereum co-founder Jeffrey Wilcke sold 20,000 ETH, worth $72.5M, on Kraken as ETH hit $3,600. While ETH’s rally shows signs of cooling, Wilcke’s moves have sparked speculation about market trends.

Wilcke’s ETH Sell-Off

Jeffrey Wilcke, one of Ethereum’s OGs, just offloaded 20,000 ETH to Kraken, bagging $72.5 million. This isn’t the first time he’s done this type of risky move, this is the fourth time he has made such a gigantic move in 2024 alone, with total sales of 44,300 ETH valued at $148 million. Despite cashing out, he’s still holding strong with 106,000 ETH, worth $382 million, proving he’s not entirely out of the game.

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ETH’s Rollercoaster Ride

Ethereum flirted with the $3,700 mark earlier today but couldn’t keep the momentum, pulling back to $3,566—a modest 1% gain in 24 hours. Analysts are keeping a close eye, wondering if the whale activity is signaling a market cooldown or gearing up for another pump.

What’s the Vibe?

This complete sell-off by Wilcke’s has made every crypto enthusiasts talking. Some people think this move is just done for small time and early profit while others strongly believe this to be a signal and a warning signal for others to brace for market volatility. This doesn’t finalize anything as anything is absolutely possible in crypto space.

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SOS Ltd Goes Big on Bitcoin with $50M Reserve Plan

Summary: China-based SOS Limited is making tremendous and strong waves in the crypto scene and it also announced its amazing plans to drop $50 million on Bitcoin to bolster its portfolio. The publicly traded firm’s board greenlit the move, with CEO Yandai Wang calling Bitcoin a “strategic asset and global store of value.” The goal? Build a BTC reserve, expand digital investments, and ride the crypto profit wave.

Nations Eye Bitcoin Reserves Too

SOS isn’t the first to jump on the Bitcoin bandwagon. Genius Group, based in Singapore took the crypto space by storm taking up headlines earlier this month with a astonishing amount of $120 million BTC buy which they manage to follow by another $14 million to beef up its crypto stash. Over in Japan, Metaplanet and Remixpoint are also not backing down but stacking up sats, still MicroStrategy continues to lead the crypto scene with jaw dropping and such a huge amount $21 billion spent on Bitcoin starting from 2020.

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Nations Eye Bitcoin Reserves Too

It’s not just institutions, corporate companies neither just big organizations but even official government bodies are vibing with Bitcoin. Donald Trump who’s current president elect from United States is planning on making a bitcoin reserve and is planning to make The United States of America into a pro-crypto country. Could this be the next big crypto move? With policies potentially dropping by 2025, it looks like Bitcoin is stepping out of the shadows and into the mainstream spotlight. 🚀

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US Spot Ethereum ETFs Soar to $10.8B in Assets Under Management

Spot Ethereum ETFs just hit $10.8B in assets, snagging 2.47% of ETH’s market cap. Big inflows coming in shows investors are hyped, especially with ETH rallying 15% this week to $3,631. Analysts think $4K is next. TL;DR: ETH’s on fire, and ETFs are riding the wave!

Okay, so here’s what’s been buzzing around the crypto world: Spot Ethereum (ETH) ETFs just hit a wild milestone. As of now it is ranked in a total of $10.8 billion in assets. That’s like 2.47% of Ethereum’s entire market cap. Yeah, it’s a big deal.

The last few days have been crazy. According to Sosovalue (shoutout to them for the stats), these ETFs got a solid $133 million in new money flowing in over just three days. On November 27 alone, a whopping $90.1 million came in, which screams one thing: investors are vibing hard with ETH right now.

So, why the hype? ETH’s price has been climbing like crazy—up 15% this week alone. It’s now sitting at $3,631, with a sweet 5.2% jump in just 24 hours. And guess what? It’s even outperforming THE Bitcoin itself. ETH said, “Move over, BTC; I’m the star of the show now.”

Analysts are now like, “What if ETH hits $4K?” If that happens, it’s game over (in a good way). With the ETFs popping off, ETH prices rallying, and big institutions finally giving it the nod, Ethereum’s basically proving it’s the main character in this crypto story.

So yeah, buckle up. It’s Ethereum’s world right now, and we’re just living in it.

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