Day: November 21, 2024

Bitcoin breaks $97k, analyst predicts $100k is imminent

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin nears $100K, rising 4.86% in 24 hours, as investors eye regulatory optimism under President-elect Donald Trump. Bitcoin’s march toward $100K gained ground on Thursday as investors bet on a friendlier regulatory environment once President-elect Donald Trump takes office. At press time, BTC is trading at $97.2K, having risen by 4.86% in the past 24 hours. The market-leading crypto asset also trades at a 7.88% weekly and 43.77% monthly…

Why the Media Loves the Worst of Crypto

Not all crypto projects have clear value, however. Memecoins, digital tokens whose value is driven by internet attention rather than tangible use, are divisive — even within crypto circles. For example, dogecoin, a favorite of Elon Musk, has a market value exceeding 94% of companies in the S&P 500, despite lacking a product or business model. Recently, Chris Dixon, at Andreessen Horowitz, even criticized memecoins’ as undermining understanding of the sector’s utility. If one was looking for a reason to argue crypto is a scam, you could find it in…

Bybit and Block Scholes Report Hail Donald Trump as America’s Crypto President

Donald Trump’s victory signaled a vital shift in crypto sentiment, moving from cynicism to a defiant belief in the growth of cryptocurrencies in the U.S. Crypto to Witness Massive Gains Under Trump Presidency Bybit, a cryptocurrency exchange, and Blocks Scholes published their latest institutional report with key takeaways from the U.S. election and the crypto […] Source CryptoX Portal

Bitcoin could be the mother of all manias as it soars toward $100,000

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As bitcoin prepares to vault to $100,000, I can’t help but wonder if cryptocurrency – not artificial intelligence – is the mother of all financial market manias. Despite its increasingly widespread adoption as an investment vehicle, the flagship crypto has yet to make its intended mark as an alternative currency. While the market capitalization of bitcoin is approaching a staggering $2 trillion, the St. Louis Federal Reserve estimates that there are about $2.4 trillion in U.S. dollars in circulation globally. The U.S. dollar remains the world’s reserve currency, broadly used…

Ethereum Layer-2 Teams Welcome Proposal to Overhaul Blockchain

“A big problem with Ethereum right now is that for a block to be considered finalized, it generally takes 12 to 19 minutes,” Farmer said. “If you’re moving funds between like Arbitrum and Polygon: until that transaction has been withdrawn from Arbitrum and deposited to Polygon, Polygon can’t safely credit those funds to a user until that transaction has been finalized on the L1. So that just leads to a bad user-experience, whereas if you have 12-second finality, that becomes a better user experience.” Source

CrossFi Announces the Listing of Its XFI Token on Gate.io Exchange With $30,000 Giveaway

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November 21, 2024 – San Francisco, California DeFi (Decentralized finance) blockchain CrossFi has announced that its native XFI token will be listed on tier-one crypto exchange Gate.io. The token will commence trading at 4:00 a.m. PST on November 21, 2024, paired against USDT. CrossFi seamlessly integrates traditional banking services with blockchain technology to provide users with a smooth and secure financial experience. The listing of XFI on Gate.io will make it easier for users to acquire CrossFi’s native asset and utilize it with the growing CrossFi ecosystem of DeFi products.…

Bitcoin Open Interest Hits ATH As BTC Nears $100K – What To Expect?

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Este artículo también está disponible en español. Bitcoin has shattered records again, reaching a new all-time high of $97,903 just hours ago. The cryptocurrency market is exciting as Bitcoin leads the charge, delivering explosive gains that have fueled widespread bullish sentiment. Investors and traders alike speculate this rally is far from over, with Bitcoin edging closer to the monumental $100,000 mark. Key data from Coinglass reveals another significant milestone: Bitcoin’s Open Interest has reached an all-time high. This surge in Open Interest indicates a flood of capital entering the market,…

Gary Gensler, We Won’t Miss You

Gary Gensler is stepping down. And no one in crypto is going to miss the SEC chair. Under his tenure, the lead U.S. securities regulator led a wide-ranging campaign against digital assets companies that was both damaging and frequently unfair. Meanwhile, Gensler offered no clarity to crypto companies wanting to do business the right way. At times, it seemed that Gary, along with his ally, Senator Elizabeth Warren, simply wanted to let crypto die on the vine — such was their obvious distaste for the industry and its arguments. Source

FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors

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The long-awaited resolution for nearly $16 billion in funds owed to users and customers of the defunct crypto exchange FTX is approaching, as the estate managing the recovery process has outlined the next steps and timeline for distribution.  FTX Nears Completion Of Chapter 11 Plan In Thursday’s announcement, FTX confirmed that it is nearing the completion of the final prerequisites necessary for its Court-approved Chapter 11 Plan of Reorganization to take effect, marking a significant milestone toward initiating creditor and customer distributions. John J. Ray III, Chief Executive Officer and…

Crypto Exchange Tokens: Tomorrow’s Blue Chip Investments

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The Rise of Crypto Exchange Tokens as Blue Chips Institutional interest in cryptocurrencies is surging, driven by the success of spot Bitcoin ETFs and increasing adoption of blockchain technologies. While much of the crypto market remains speculative, exchange tokens, the native cryptocurrencies of trading platforms, are well-positioned to become the blue-chip investments of the digital finance era, offering both stability and exponential growth opportunities. What Are Crypto Exchange Tokens? Crypto exchange tokens serve as utility tokens for trading platforms, offering fee discounts, rewards, and other benefits. Unlike traditional cryptocurrencies like…