Capitalists Invested $1.7 Billion in the crypto Industry in October

In October, venture investments in blockchain projects increased to $1.7 billion, an increase of 52% compared to the previous month. This is the highest figure since September 2022 and the strongest result for the current year. Two major rounds played an important role: Praxis startup raised $525 million, and Crusoe Energy raised $500 million. Together, they provided almost 60% of the total funding.

Startups based on the Polygon blockchain became the leader in the number of transactions, which again outstripped the L2-Base solution. However, in September, the latter came forward, which indicates its growing popularity. Despite Polygon's leadership in October, experts expect both networks to continue to gain momentum and compete seriously in the coming months.

The largest volume of investments, almost $700 million, fell on infrastructure blockchain solutions. In this category, projects related to increasing the scalability, reliability and energy consumption of networks remain a priority for investors. Such attention confirms the importance of creating a stable foundation for the further development of the blockchain.

Another notable trend is the growing interest in the application level of technology. Web3 products stand out here, as well as new trends such as SocialFi (financial applications with elements of social networks) and DeAI (decentralized artificial intelligence). These areas are becoming more and more in demand due to their prospects for integration with the real economy.

The general increase in interest in blockchain projects is associated not only with the improvement of market conditions, but also with the development of new technologies. Investors continue to look for promising ideas that can become the next "unicorns". Against this background, the inflow of capital into the industry will remain at a high level. Experts believe that the dynamics of October may set a trend for the coming months.

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Trading volume has increased dramatically, but Hamster Kombat is facing big challenges

The trading volume of the token jumped to $128.05 million, which sounds great on paper. Such a surge usually indicates renewed interest, especially from major players. Earlier this month, volumes reached an even more impressive $1.3 billion in spot markets and $4 billion in perpetual trading. But here's the catch: none of this has led to sustained price increases. The price of the HMSTR token continues to decline.

Market sentiment is also divided. A recent CoinMarketCap poll with 89,563 votes shows that 73% of users are still optimistic, but the dominance of whales raises concerns. Since 86% of the tokens are in the hands of several large wallets, small investors, who own only 13.88%, seem afraid to return.

Where are the players going?

One of the biggest alarms is the sharp drop in the number of active users of Hamster Kombat. Back in August, his mini-app had a staggering 300 million users. Fast forward to November, and that number has plummeted to just 30.4 million. This is an 86% drop in a few short months, which is not good news for a project that depends on player engagement.

The developers are promising big changes in Season 2, teasing features such as NFT integration, virtual game studios, and custom community tasks. But here's the problem: the launch date has not yet been determined. At the moment, users are stuck with basic tasks and third—party games - this is hardly the hype that is needed to bring them back.

What to expect

The future of Hamster Kombat seems to hang in the balance. On the one hand, the broader cryptocurrency market is now in a good position thanks to the bitcoin rally. This can help support trading activity. On the other hand, the problems with the price and the involvement of the token will not be solved by themselves.

To get back to normal, the team needs to fulfill its promises for season 2 - and quickly. Without real updates and a stronger user base, even high trading volume may not be enough to turn the tide.

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Quantoz with Tether support launches MiCA-compatible USDQ and EURQ stablecoins

Shortly before the European Union regulation on crypto asset markets, known as MiCA, comes into force in December, the Dutch firm launched two MiCA-compliant stablecoins.

Quantoz Payments is releasing two new tokens, USDQ and EURQ, stablecoins pegged to the dollar and euro, respectively, on the Ethereum blockchain. Quantoz is regulated and licensed by the Central Bank of the Netherlands as an electronic money institution, and stablecoins are fully backed by fiat and "highly liquid financial instruments," according to the firm.

The launch comes at a crucial moment for European crypto investors, as MiCA rules restricting certain stablecoins are due to come into force in December. While EURC Circle and EURCV Société Générale now hold a record 67% of the Eurostablecoin market share, other competitors such as EURQ are likely seeking to claim their market share. The supply of EURC stablecoins has also recently reached a historic high.

Tether, the world's largest issuer of stablecoins, has not yet received a license for its USDT stablecoin under MiCA. Coinbase has also not commented on whether it will exclude the token from listing in Europe, as it plans to do with other non-compliant stablecoins by the end of the year.

The lack of clarity around USDT may be one of the reasons why Tether invested an undisclosed amount together with Kraken and venture capital firm web3 Fabric Ventures in Quantoz Payments.

"Our support for Quantoz underscores Tether's commitment to advancing innovative and regulated digital asset solutions," said Tether CEO Paolo Ardoino.

USDQ and EURQ will be available for trading on Bitfinex and Kraken on Thursday, November 21, according to Quantoz. Quantoz will keep 2% of the tokens on its balance sheet in accordance with MiCA rules.

"The support from some of the best digital asset companies in this investment round will allow us to provide a timely solution for the digital asset markets, as well as uncover the benefits of blockchain—based money for more traditional use cases," said Arnaud Star Busmann, CEO of Quantoz.

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Following in the footsteps of MicroStrategy: An AI company Invests $120 million in Bitcoin

Genius Group, a company specializing in the development of artificial intelligence, announced a radical change in its investment strategy — 90% of its reserves will be stored in bitcoin.

After restructuring the board of directors, which includes experts on blockchain and Web3, the company plans to invest $120 million in the first cryptocurrency. At the current rate, this is equivalent to about 1,380 bitcoins.

"Our strategy with a focus on bitcoin will make us one of the first companies on NYSE American to fully adopt the MicroStrategy approach," reads a press release published on November 12.

CEO Roger Hamilton stressed that the introduction of transparent decentralized technologies will help bring the company's market value in line with its underlying assets. For 2023, Genius Group reported total assets of $43 million and revenue of $23 million.

This decision was the result of a difficult period — the company's shares fell below $0.60 amid a public confrontation with alleged market manipulators. According to Hamilton, the current lawsuit may bring compensation in excess of $250 million.

The company is not limited to investing in bitcoin. She plans to introduce bitcoin as a payment method on an educational platform, launch the Web3 Wealth Renaissance educational series, and expand cryptocurrency training programs using AI tools.

Shares of the Singapore-based company reacted to the news with a rise of up to 50% in the pre-trading session on Monday. Despite the subsequent correction, they have increased by 61% to $0.95 over the past five days.

Genius Group joins a growing list of public companies following the example of MicroStrategy, which began investing in bitcoin in 2020. According to Bitcoin Treasuries, there are 279,420 bitcoins in MicroStrategy accounts. Recently, medical equipment manufacturer Semler Scientific and Tokyo-based investment company Metaplanet also announced the purchase of more than 1,000 bitcoins each.

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A SCIHUB Investor Turned $100 into $700,000 in a Day

Lookonchain analysts drew attention to a trader who managed to make good money on the growth of the sci-hub (SCIHUB) cryptocurrency. His investment of just over a hundred dollars brought in a profit that exceeded $700,000

The Lookonchain team talked about exactly how a successful trader acted in their X (former Twitter).

According to analysts, a member of the crypto community has bet on the sci-hub (SCIHUB) cryptocurrency. Its name is a reference to the shadow library site of the same name. The platform provides free access to millions of scientific articles, bypassing the paid barriers of publishers. The site allows you to circumvent copyright laws. Therefore, the very existence of the project causes ethical disputes.

As of the time of writing the review, there is no information about the cryptocurrency of the same name on the sci-hub website. Therefore, we cannot claim that SCIHUB has anything to do with the project. However, it is possible that the data will appear later. The fact is that the SCIHUB coin, according to geckoterminal, is only one day old. At the same time, the number of token owners has already exceeded 13,000, and the liquidity of the coin has exceeded $ 1.43 million.

According to solscan, an unknown trader invested $108 in Solana (SOL) in SCIHUB. Against the background of the explosive growth of the cryptocurrency exchange rate, the value of the 12.77 million sci-hub tokens he bought reached $ 718,000. Thus, the return on investment was 6,648 x.

At the moment, the cryptocurrency was trading at $0.0713. After setting the maximum, the coin went into correction. As of the time of writing the review, the cryptocurrency is trading at $0.0429.

The participants of the crypto community are confident that an insider is behind the transactions. Some believe that the operations were carried out by one of the developers of the project, as other coins are associated with it.

Earlier, the editorial board of BeInCrypto published the instructions of a popular analyst who told subscribers exactly how he manages to find coins with great growth prospects.

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5 tokens are scheduled to be listed this week

CryptoDiffer researchers published a post on the social network X, in which they said that next week several promising crypto projects will enter the stock exchanges at once, attracting the attention of investors. According to experts, they will be of interest to traders who may try to speculate on the value of new assets. These include Bitfinity (BTF), Zyfi (ZFI), MicroGPT (MICRO), Ponder (PNDR and MemeFi (MEMEFI). These startups have already proven themselves by completing funding rounds and preparing for the public offering of tokens. The listing date for each project has already been determined.

Bitfinity is a scalable Layer 2 network based on the Bitcoin blockchain. The project has raised $7 million and is estimated at $130 million. Tokens will be available on the trading platform Gate.io since November 19th. Zyfi, which provides the "payment as a service" service, received an investment of $2 million, and its current valuation is $20 million. The project is expected to announce the listing platform on November 19th.

The next startup is MicroGPT, a developer-oriented platform using AI tools. The project entered the last round with an estimate of $3.5 million, and the initial placement of tokens will take place at Gate.io November 20th.

Ponder is another AI—based crypto startup aimed at analyzing Web3 trends. Its capitalization reached $10 million after raising $1.1 million in the last round of financing. The exact date of the listing is still unknown, but it is expected to happen on November 20. Completes the MemeFi list. This web3 game combines PvP and PvE elements. Its valuation is $125 million, and the listing will take place immediately on 2 major platforms - Bybit and Gate.io November 22nd.

These projects demonstrate the active support of the Web3 and AI sector, attracting funds and the attention of investors. Successful listings may affect their further development and interest in such startups in the near future.

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The CAT token expands to Solana, creating a long-term bullish trend

-- CAT, a memcoin associated with Simon's Cat, is expanding onto the Solana blockchain to tap into its active trading community.
-- The vault provides early access to BONK token holders who have locked their tokens for 12 months.
-- The Solana ecosystem has become a center of memcoin activity with significant trading volumes and commissions.

CAT, the licensed meme coin of the online cartoon character Simon the Cat, is expanding on the Solana blockchain to attract a new audience of traders.

Long-term holders of the staunch follower of Solana BONK, a dog-themed meme coin created at the end of 2022, who have locked their tokens for 12 months, will receive early access to CAT on Solana. The vault will offer CAT for up to $100,000 at a reduced rate compared to the market price at the time of launch.

According to the data, as of the morning hours in Asia, the vault was filled with more than the initial amount of 100,000 US dollars, while stablecoins worth 240,000 US dollars were placed for CAT on Solana.

In recent years, Solana has become a hotbed of memcoins, where periods of rapid token issuance and trading are often observed, which creates a cycle of demand for SOL, and profits often return to new tokens.

Other networks have not yet seen such a surge in activity. Earlier this year, in March, for example, Solana collected $3.2 million in commissions in 24 hours, breaking the record of $300,000 since 2021. Onchain volumes increased by more than $3 billion, breaking the November 2022 record of $300 million, according to an analysis by CoinDesk. No other popular blockchain, such as Ethereum, BNB Chain or TRON, saw a surge in activity during this period, indicating that traders' attention was focused on one network.

It was this reason that primarily influenced CAT's decision to expand its activities in Solana.

"BNB has given $CAT a solid, reliable foundation with solid liquidity, but we are pleased to open the doors to the high—speed, low-cost Solana network, which is hugely popular among retail traders and the meme community," one of Simon's Cat CORE team members told CoinDesk on condition of anonymity.

"The deep support of Solana from exchanges means even more opportunities for trading and liquidity, which is a serious incentive. And we are just getting started — there is still a lot in our roadmap," the team added in a Telegram message.

The Simon's Cat token was created in early August in collaboration with FLOKI, BNB Chain and DWF Labs. CAT is officially affiliated with Simon's main Cat brand and is the first major cat meme on the BNB Chain, backed by the intellectual property of the company, which generated $5.8 billion in revenue last year.

The data shows that CAT has grown by 11% in the last 24 hours, and has almost doubled in the last two weeks on the back of a broader memcoin Rally.

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Glassnode and Fasanara Digital: The Crypto market will soon enter a new Phase

Analysts from Glassnode and Fasanara Digital have published a report on the results of a joint study, assessing the dynamics and prospects of the crypto market in October — December. According to experts, the market is on the verge of moving from the "bullish enthusiasm" stage to the "bullish euphoria" phase.

Glassnode and Fasanara Digital noted the rapid recovery of the crypto market after the bankruptcy of the FTX crypto exchange, which began in November 2022. Since then, bitcoin's capitalization has increased by 372%, and the dominance of the first cryptocurrency has increased from 38% to almost 60%, and now the market is preparing for a phase change.

The share of ether in the market decreased from 17% to 12.8% due to a lack of capital inflows and a decrease in interest in this asset from retail investors, experts said.

They drew attention to the sharp increase in the activity of institutional investors-legal entities, the reason for which was the launch of the first spot bitcoin ETFs in the United States. Assets under fund management have reached $70.9 billion, which is about 5% of the circulating bitcoin supply.

Experts from Glassnode and Fasanara Digital have recorded an increase in the volume of spot trading in bitcoin and open futures positions for the first cryptocurrency — the latter reached a historic high of $37.1 billion.

One of the most important trends in the fourth quarter of 2024 was the tokenization of real world assets (RWA). Investors' interest in RWA's capabilities continues to grow, the experts concluded.

Earlier, MV Global conducted a survey of large investors, the results of which revealed that investors believe that the cryptocurrency market will peak in the second half of 2025.

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Litecoin developers have "reformatted" the cryptocurrency into a memcoin

Litecoin, a cryptocurrency project created in 2013 and initially considered a serious alternative to bitcoin, "declared" itself a memcoin.

Apparently, the developers of Litecoin are haunted by the hype of the popularity and exchange rate of memcoins. For example, Dogwifhat (WIF) and Pepe Coin (PEPE) meme tokens have risen significantly in price after they were placed on major American platforms Coinbase and Robinhood. PEPE rose by more than 200%, reaching an all-time high of $0.00002597. The rate of WIF, a Solana-based meme coin, jumped by 65% in one day after listing on Coinbase.

The cryptocurrency market also reacted positively to the playful rebranding of Litecoin, and the price of LTC increased by 21%.

In the next post, the cryptocurrency development team appealed to the crypto community, urging its members to rally in the face of growing pressure from regulators. In addition, they called on various blockchains to unite in the "fight against the machine."

We are at a crossroads in our struggle with the machine. After all, we are all memes. Discover your inner meme and join forces with us. From the highest to the lowest, your voice will be heard," the message says.

The Litecoin team turned to the first Dogecoin meme token with a request to compile a manifesto. Polygon was tasked with unifying blockchain networks, and Solana should "stand aside and wait for the ball." There is a serious subtext behind this humorous post, which once again points to regulatory problems on the part of the American authorities.

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Binance Exchange customers could not withdraw XRP cryptocurrency

The Binance cryptocurrency exchange suspended the withdrawal of XRP (XRP) during the pump of the digital asset rate issued by Ripple.

On November 16, customers who tried to send XRP received a message that this service was temporarily down. The coin transfer function was disabled due to technical problems, and the XRP withdrawal option became available again after the problems were fixed.

this asset. The price of the cryptocurrency began to pump on November 15 at 11:00 Moscow time, and on Saturday at 18:00 its value reached its maximum value since November 2021 at $ 1.26.

During the bullish rally, the trading volume of XRP increased significantly, which could cause problems or activation of the security system, which disabled the function of sending coins, suspecting something was wrong.

Judging by the time of publication of the Binance user's message and the response to it by a representative of the exchange's technical support, it can be assumed that the clients of the trading platform could not withdraw XRP within one to two hours. However, despite the quick resolution of the problem, Binance was hit by a wave of criticism, and some owners of digital assets once again reminded everyone of the superiority of cold hardware crypto wallets compared to hot custodial crypto storages, which can be turned off at any moment.

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Gensler may resign from his post at the SEC before January

On November 15, Fox Business journalist Eleanor Terrett hinted that Gensler might announce his resignation shortly after Thanksgiving.

"When exactly he will announce his resignation is an open question, but in Washington circles they say it could happen after Thanksgiving, before Trump's inauguration," Terrett said.

Recent statements by Gensler himself add grounds for speculation. In his speech on November 14, he expressed pride in his work at the SEC, highlighting the agency's efforts to protect American investors. Gensler's speech also contained reflections on his tenure and what some perceived as a farewell message.

"I am proud to have worked with my colleagues at the SEC who protect American families in the financial market every day," Gensler wrote.

Gensler also noted that during his leadership, the SEC approved the first spot bitcoin ETFs. The SEC chairman called this event a significant step forward, pointing out that previous administrations had blocked such innovations.

However, his tenure was marked by intense criticism from the crypto sector. Tyler Winklevoss, Gemini's co-founder, accused Gensler of damaging the industry due to a harsh regulatory approach. Winklevoss argued that Gensler put personal ambitions above fair regulation, describing his actions as harmful and deliberate.

"No apology can undo the damage he has done to our industry and our country. Such people should not occupy places in either large or small institutions. Americans are tired of their tax dollars going to the government, which is supposed to protect them, but instead being used against them by politicians seeking to advance their careers," he said.

Under Gensler's leadership, the SEC has conducted a number of high-profile lawsuits against major crypto companies, including Binance, Coinbase and Ripple. Critics argue that such an active intervention strategy stifles innovation and creates a hostile relationship between regulators and the industry.

With rumors spreading about Gensler's possible resignation, more and more attention is being paid to his potential successor in the Trump administration. Possible candidates include Robinhood's chief lawyer Dan Gallagher, former SEC chief lawyer Bob Stebbins and current Republican SEC Commissioner Mark Ueda. Brad Bondi, Paul Atkins, Heath Tarbert and Norm Champ were also among the candidates.

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Analysts named 5 meme tokens in the accumulation phase

5 meme tokens were immediately in the accumulation phase. According to the DropsTab platform, FLOKI, BRETT, SLERF, FOXY and DUKO entered this phase. The main meaning of the stage is an active interest in assets, expressed in an increase in trading volume and stable price fluctuations in a limited range. This may indicate preparation for significant changes in the value of these assets in the future.

The first place in the list is occupied by FLOKI, whose fully diluted volume (FDV) is estimated at $2.36 billion. Despite such an impressive figure, the price of the token remains low, at $0.0002 since November 15, 2024. It is followed by BRETT, with an FDV of $1.76 billion and a value of $0.176, which has been in the accumulation phase since November 14.

SLERF, ranked 255th in the ranking of cryptocurrencies in terms of maximum capitalization, is trading at $0.435 and has an FDV of $219 million. This token entered the accumulation phase back in October, which makes it the most "old" member of the list. Next comes FOXY with an FDV of $171 million and a price of $0.017 from November 13. DUKO closes the top 5 - the most inexpensive meme token ($0.0016), whose accumulation began on November 14, while its FDV is $16.5 million.

This phase is usually characterized by increased activity when the trading volume increases significantly, but the price remains in a narrow range. This may indicate both the actions of trading bots and the accumulation of large investors. The meme cryptocurrency market is known for its volatility, and current activity may indicate potential price spikes if the accumulation phase ends with a quote growth stage.

In addition, it is especially difficult to analyze price changes due to unstable trading conditions. This requires a careful approach to valuation in order to correctly predict the price movement. Experts advise to monitor the increase in volumes and anomalies in the behavior of tokens, which may signal an imminent change in market sentiment.

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A week in the memcoin world: ACT and PNUT staged a rally

The past seven days have been exciting for the crypto market, as bitcoin continued to upgrade ATH despite the exhaustion of bullish momentum. The fading momentum did not affect memcoins: the scale of their rally reached 3,000%

The editorial board of BeInCrypto analyzed three memcoins, which grew significantly and at the same time updated historical highs.

Act I: The AI Prophecy (ACT)

The ACT cryptocurrency has become the most popular meme coin this week thanks to its recent listing on the Binance exchange. This event triggered an unprecedented 3,000% rally in seven days.

Currently, the ACT has rolled back from the recently reached new historical high of $0.95. Altcoin has formed a strong support level at $0.60. This signals potential stability against the background of continued momentum, if favorable market conditions persist.

However, the ACT rally caused by the HYPE makes it vulnerable to correction. If investors prefer to lock in profits, the coin may lose support at $0.60 and drop to $0.44. This will cast doubt on recent achievements and raise concerns about sustainable growth.

Peanut the Squirrel (PNUT)

PNUT has become one of the most dynamically developing memcoins, soaring by an impressive 1,579% over the past week. Thanks to this rally, the coin entered the top hundred cryptocurrencies and attracted significant attention from investors and analysts.

PNUT has set several historical highs this week, the last of which was recorded at $2.50. If the bullish momentum continues, the token could continue to climb, potentially establishing new ATH and further strengthening its position in the market.

However, if PNUT loses the critical support level of $1.69, it can expect a significant correction. It may lead to a decrease in the price to $ 0.44, which will cancel the current "bullish" forecasts.

Department Of Government Efficiency [DOGE(GOV)]

Over the past week, the price of DOGE(GOV) has increased by 244% and reached a historic high of $0.545. After a slight correction, investor sentiment shows mixed signals regarding the short-term price trajectory.

Altcoin maintains support at $0.161, providing insurance against a possible profit-taking. However, if the selling pressure increases, DOGE(GOV) could drop sharply, potentially to $0.049. Such a drop would negate most of the recent gains and strengthen the bearish momentum.

On the other hand, if DOGE(GOV) holds above the $0.161 support level, it will be able to restore upward momentum. Successful consolidation at this level may allow memcoin to return to the historical maximum of $0.545. This will refute the bearish forecasts and open the way for further growth.

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Altcoin season index falls as bitcoin share rises

The altcoin season index (ASI) has fallen to 35. This indicates that bitcoin's market performance is improving compared to the rest of the cryptocurrencies.

The ASI index, which is tracked by CoinMarketCap, measures the performance of the 100 largest cryptocurrencies (excluding stablecoins and wrapped tokens) over the past 90 days. Altcoin season occurs when at least 75% of these assets outperform bitcoin. Conversely, bitcoin season should be expected when less than 25% of altcoins outperform the flagship cryptocurrency.

The day before, the altcoin season index stood at 36, up from 34 a week earlier. The index remained at 23 in October. The year-to-date high of 50 was recorded on April 9 and reflected a balanced market. The low of 13 occurred on September 3 and demonstrated bitcoin's strength.

Despite the fact that the current ASI is at 35, investor interest in altcoins is growing. The aggregate market capitalization of that asset category has also remained relatively stable. Over the past 90 days, it has been at the level of $900 billion. According to experts, the discrepancy between the altcoin season index and their market capitalization most likely speaks to the mood of investors and their trading activity.

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GOAT hits all-time high: what's next

The price of Goatseus Maximus (GOAT) recently hit a new record high. This rise was accompanied by strong readings from technical indicators that portended a continuation of the uptrend.

However, some signs suggest that GOAT's rise may be slowing down.

GOAT's trend has started to weaken

GOAT's current ADX is 27.63, down from 36 last week. This indicator measures the strength of the trend: it ranges from 0 to 100, where values above 25 indicate a strong trend and below 20 indicate no trend.

The GOAT ADX of 27.63 indicates that the uptrend is still active, although not as strong as before.

Goatseus Maximus is approaching the overbought zone

The GOAT's current relative strength index (RSI) stands at 67.63. It jumped from 50 in just a few hours: while this sharp rise indicates strong buying interest, it also brings the memcoin closer to overbought levels.

The Relative Strength Index ranges from 0 to 100, where values above 70 indicate overbought and below 30 indicates oversold. GOAT's current RSI indicates that the asset is overheated.

GOAT Price Forecast: possible correction of 39%

Even though GOAT is approaching the overbought zone, its EMA lines still look very optimistic. The price of the memcoin is above all EMAs, with the short-term lines located above the long-term lines. This placement indicates strong upward momentum and confirms a healthy bullish trend.

However, if investors start actively taking profits, the price of Goatseus Maximus could pullback to the nearest support at $0.76. If it fails to hold, the memcoin is waiting for a more serious fall to $0.69, which means a possible 39% correction.

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Base Network has reached 1 billion transactions

On November 15, the Coinbase-supported Base network proudly announced that it has completed 1 billion transactions since its launch in August 2023. This milestone was reached in just a year, which is an outstanding achievement compared to established networks like Bitcoin, which took more than 15 years to reach similar figures.

The rapid growth of Base is not surprising. The network quickly became the fastest growing Ethereum Layer-2 solution, surpassing competitors such as Optimism and Arbitrum. A recent CoinGecko report ranked Base as the second most popular blockchain in 2024, and the network is now attracting nine times more attention than its closest Layer-2 competitor, Arbitrum.

Market observers attribute the rapid growth of the network to the reliable support and resources provided by Coinbase, the $76 billion crypto exchange that manages Base. Moreover, the strength of the Coinbase brand as the largest cryptocurrency exchange in the United States has also undoubtedly contributed to the success of Base.

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Monad developers have launched a test network

The founders of the promising Level 1 (Layer 1) Monad blockchain have begun the phased launch of their own test network, which has caused an active discussion in the crypto community. Well-known crypto trader Cobie confirmed on social networks that he has already started testing. He called the speed of the blockchain impressive. "I carried out the transaction, it was fast," the expert said.

Monad development started with the launch of devnet in March 2023. Then, in test mode, the network showed a performance of 10 thousand transactions per second. Koen Hong, CEO of Monad Labs, noted that the launch of the test network was an important milestone for the team.

Monad differs from the classic Ethereum approach to architecture. Instead of copying the existing code, the team creates a new EVM from scratch. The main feature of the system is the pipeline architecture, which allows processing processes in parallel, providing instant completion of blocks. However, the nodes of the network will require equipment twice as powerful as for working with the main Ethereum blockchain.

The advantage of Monad is its full compatibility with EVM bytecode. This makes it easier to migrate existing Ethereum applications to a new platform. This approach makes Monad an attractive network for developers who want to access higher bandwidth.

The project is actively attracting investments. In April 2024, Monad Labs completed a $225 million funding round led by investment company Paradigm. Electric Capital, Coinbase Ventures and Castle Island Ventures are also among the participants. Previously, the startup raised $19 million in December 2022, and the total investment at various stages reached $253 million.

Despite the ambitious goals, the project faces challenges. High hardware requirements and the need to prove the claimed performance in real conditions remain key issues. However, the support of large investors and the innovative approach of Monad allow us to count on the successful development of the network.

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XRP recorded its highest weekly close in 3 years after soaring above $1

XRP posted its highest weekly close in three years as bullish momentum builds in the XRP Ledger ecosystem.

Against the background of market consolidation after a bullish surge that saw bitcoin break through the price of $93,000, XRP defied the prevailing momentum. The sixth largest cryptocurrency by market capitalization has grown by a whopping 105% in the last seven days and finally crossed the $1 mark.

The bullish rise of XRP also ensured that it overtook Dogecoin in the cryptocurrency rankings after the rise in the price of the meme coin allowed it to surpass the asset at the beginning of the month. It is noteworthy that XRP is now trading with a market capitalization above $65 billion, which is the highest in three years.

Highest weekly close since 2021

Meanwhile, market analyst Cryptoes has drawn the attention of the XRP community to the landmark milestone that XRP has reached after its bullish breakout last week. In a tweet on Monday, he noted that the native XRPL token has reached its highest weekly close in three years.

Just a week ago, XRP was trading around 50 cents, recording a minute gain despite the broader bullish momentum of the market. However, the positive sentiment around the ecosystem intensified after strong macroeconomic factors spurred a price spike.

As XRP gained momentum, its price overcame years of resistance, trading above $1 after more than three years of trying to reach the price mark. XRP rose to a one-week high of $1.26 on November 16 before closing at $1.0545.

Meanwhile, XRP's results last week increased its monthly and annual gains to 116% and 97%, respectively. The asset has also become the growth leader over the past seven days among the 20 largest crypto assets by market capitalization.

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The financial analyst is confident that the bitcoin rally has not yet begun

Financial analyst Sean Brodrick, known as the "Indiana Jones" of Natural Resources, believes that even after bitcoin moves into the $90,000 range, it still has potential for growth. Brodrick said that in 2025, governments, banks and corporations will push the rate of the leading cryptocurrency up.

Brodrick argues that Trump's commitment to cryptocurrency and the possibility of forming a strategic reserve of bitcoins will encourage other countries to take similar steps. This will be the first domino to fall to start an unprecedented rally.

Corporations will support this movement. On the one hand, Microstrategy already owns huge amounts of bitcoins, on the other hand, the vast majority of companies in the United States have not yet entered the cryptocurrency market, even with the advent of exchange-traded funds (ETFs).

Brodrick has no doubt that Microsoft's vote to buy bitcoins as part of its reserves is just the beginning of this process.

Big banks are the last of the three elements that, according to Brodrick, will push bitcoin to new heights. He noted that the largest investment banks Goldman Sachs and JPMorgan are already diving into bitcoin, but at the moment they own only small amounts of bitcoin ETFs.

If the government starts creating a strategic bitcoin reserve... and especially if corporations start creating bitcoin assets, I would expect big banks to create their own BTC reserves. And not only in ETFs, but also in real cryptocurrencies," the expert added.

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Record daily commissions have boosted Solana to a peak in December 2021

On the morning of November 18, the Solana exchange rate rose above $245, which was last observed in December 2021. The catalyst was the highest commissions in the history of the network ($9.3 million).

The high level of network activity was facilitated by the return of the hype around meme coins.

On November 17, crypto influencer Patrick Scott drew attention to the fact that five of the top ten collection protocols over the past 24 hours are related to Solana.

According to current data, the highest income was received:

-- DEX Raydium — record $13.37 million;
-- Jito liquid staking protocol — $7.89 million;
-- Telegram bot for trading Photon meme coins — $2.36 million;
-- a platform for launching Pump meme coins.fun — $1.65 million

Over the past 24 hours, SOL has added 1.5% in value, and 17.4% in seven days. At the time of writing, the asset is trading at $242.47. ATH is fixed at $259.9.

The leader of meme coins on Solana - dogwifhat (WIF) — fell in price by 4.9% during the day.

Among those released on Pump.fun tokens positive dynamics over the past 24 hours has been observed in eight out of ten assets.

Recall that on November 13, the Peanut the Squirrel (PNUT) meme coin went up four times in a day.

Earlier, VanEck noted the high chances of approval

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Chainlink has created a platform for banks to integrate blockchain

The Chainlink development team has announced the Chainlink Runtime Environment (CRE) framework, designed to help banks, payment systems and other traditional financial institutions seamlessly connect to blockchain technology.

It is claimed that the new solution will replace old technologies such as COBOL and Java Runtime Environment. COBOL, introduced in 1959, played a crucial role in the creation of early financial instruments such as ATMs and electronic banking. The Java Runtime Environment, developed in the 1990s, became the basis for online banking.

Both systems were revolutionary at the time, but they no longer meet the needs of modern blockchain applications. By introducing CRE, Chainlink is creating a single, blockchain-compatible system to modernize these legacy infrastructures.

Interestingly, at the SIBOS banking conference last month, Chainlink developers announced cooperation with the world's leading SWIFT interbank messaging system, which allows banks to use it to connect to blockchain systems.

In addition, Chainlink is exploring the possibility of using artificial intelligence (AI) in combination with its own oracles. This will allow you to create secure, tamper-proof financial activity records, such as confirmation of reserves.

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Historical data hints at further growth of Cardano (ADA)

The Cardano (ADA) rally may continue after an impressive 65% price increase over the past week. This forecast is based on historical data and expected investor behavior.

At the time of writing, ADA is trading at $0.72. An analysis of on-chain data shows that the recent rally may be just the beginning.

Cardano may continue to grow

One of the key indicators confirming this forecast is the ratio of market value to realized value (MVRV). This metric helps identify potential market peaks and bottoms and provides insight into investor behavior.

The higher the MVRV ratio, the higher the profitability of the holders and their willingness to sell. A decrease in MVRV, in turn, means a decrease in unrealized profit.

At the time of writing, the 30-day MVRV ADA ratio is -7.27%. Historically, when this value was reached, the altcoin price continued to rise. In addition, the recent addition of Cardano to the Robinhood listing may increase the demand of American investors.

The HIOM metric, which analyzes the difference between profitable and unprofitable addresses to assess market momentum, also confirms this forecast. The number of profitable Cardano addresses has started to increase, it is still far from the maximum values.

ADA Price Forecast: Is a 500% increase possible?

The weekly chart of Cardano resembles the dynamics of 2020-2021, when the price of ADA increased by 3,653% — from $0.061 to $2.29. This jump was supported by the intersection of the 20-week exponential moving average (EMA) over the 50-week EMA.

Although a repeat of this situation seems incredible, the price of ADA may still rise up to 500% in the coming months. If this happens, the altcoin will reach the $2.03 mark. The rise in the price of bitcoin (BTC) can also help, especially considering that Cardano is closely correlated with the main cryptocurrency. However, increased selling pressure will send Cardano in the direction of $0.33.

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Developer Shiba Inu suggested that Trump hire a blockchain advisor

Shiba Inu's chief developer, Shitoshi Kusama, called on Donald Trump to appoint a blockchain advisor to his administration.

This proposal arose after the newly created Department of Government Efficiency (DOGE) began exploring the possibility of using blockchain for elections.

Kusama Explains Why Trump should Hire a Blockchain Advisor

On November 15, Kusama expressed concern about rumors about a blockchain platform for elections, which the Trump team is reportedly considering. The system, dubbed "eVote", involves collaboration with well-known networks such as Cardano, Hyperledger and Hedera.

The eVote initiative is aimed at combating electoral fraud. Analysts believe this is in line with Trump's long-standing emphasis on ensuring election integrity, especially amid controversies related to past election processes.

Although the idea has already received public support, Kusama believes that its success depends on the integration of fully homomorphic encryption (FHE). In his opinion, without FHE, personal data and preferences of voters may become available for decryption by intruders. He also stressed that encryption must be reliable enough to withstand the threats of quantum computing.

"Without FHE, this concept will fail. That's why. Voices should be protected not only on the blockchain, but encrypted in a way that is resistant to quantum computing. Otherwise, the aggressor country will decrypt the votes and publish the wallets of the voters. Chaos will ensue," Kusama explained.

To solve this problem, developer Shiba Inu called on Trump to appoint a blockchain advisor, who will become a link between technology and public policy. Previously, industry leaders such as Cardano founder Charles Hoskinson have expressed interest in working with the government to develop legal clarity and stimulate blockchain innovation.

If Trump takes Kusama's proposal seriously, he will surely receive even more support from members of the crypto community. Earlier, he appointed cryptocurrency supporters Elon Musk and Vivek Ramaswamy as heads of DOGE and nominated Florida Congressman Matt Geitz, who supports bitcoin, to the post of attorney general. In addition, Robert F. Kennedy Jr., a well-known popularizer of cryptocurrencies, will soon become Secretary of Health and Human Services.

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Users of the DEXX platform lost $16 million due to data leaks

The DEXX meme token trading platform was at the center of a major security breach, which caused users to suffer significant losses. According to reports, users lost $16.79 million due to unauthorized token transfers. The holders of BAN and LUCE meme assets suffered the most, losing $3.45 million and $1.75 million, respectively.

The DEXX development team recognized the problem and stated that they had engaged several security audit specialists. They must identify and eliminate the vulnerability of the platform.

CertiK, the leading blockchain security auditor, also confirmed that he had received requests for help from affected users. The investigation revealed that the main problem was the improper management of private keys, which led to the disclosure of the official DEXX private key. CertiK experts reported that the hacked system is located on the Solana blockchain, which the company's specialists had not previously checked.

Hardware wallet provider OneKey suggested that DEXX could have accidentally downloaded the contents of users' clipboard, potentially leading to the disclosure of confidential information.

This incident shocked the crypto community, and many questioned the platform's security protocols and the role of third-party auditors. DEXX's statement that the platform had been audited drew criticism, especially given that the hack revealed obvious vulnerabilities in private key management.

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Ethena accepts the offer to split the commissions for the ENA token

According to the Wintermute management forum, the Ethena Foundation has approved Wintermute's proposal to share part of the revenue of the Decentralized Finance Protocol (DeFi) with token holders.

On November 6, Wintermute, a cryptocurrency market maker, offered to allocate a portion of Ethena's revenue from commissions to the stake holders of its own Ethena token (ENA).

"The Ethena Foundation is pleased to announce that the proposal to enable the switching of ENA commissions has been approved by the Risk Committee," the management forum said in a statement on November 15.

"The Fund will work with the Risk Committee to crystallize the parameters for activating commission switching by November 30, followed by precise implementation mechanisms."

In February, Ethena Labs launched a profitable stablecoin called USDe, which users can issue using tokens including Bitcoin (BTC), Ethereum (ETH), liquid stacking derivatives and other stablecoins.

Ethena then hedges the inherent volatility of the portfolio using off-chain financial derivatives.

According to CoinMarketCap, USDe's working capital has grown to almost $3.2 billion since the issuer Ethena Labs launched a unique stablecoin in February.

Launched in April, the Ethena platform's own token (ENA) can be placed in a stack to receive sENA, which, before Wintermute's management proposal, did not have a clear mechanism for accumulating value.

"The Ethena protocol has generated and continues to generate substantial amounts of real revenue, which indicates a clear level of product compliance with the market for USDe," says the management proposal from Wintermute.

"Unfortunately, sENA does not directly benefit from this revenue, which leads to a clear gap between sENA holders and the growth of the protocol," the proposal added.

"It's time to recognize this and pay attention to establishing a clear correspondence between ENA holders and the basic principles of the protocol."

On October 25, Wintermute began accepting USDe as collateral for spot transactions with cryptocurrency and derivatives.

"Wintermute customers can now place USDe as collateral for options, credit default swaps, forward and spot trades," the company said in a post on the X platform.

The Ethena USD (USDE) stablecoin joins Wintermute's existing list of accepted cryptocurrencies, which includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and USD Coin (USDC), Wintermute said.

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DOGE, LTC and XRP: what did the whales buy this week

In the second week of November, major market players actively invested in several altcoins. We tell you which coins the whales noticed.

Investors are closely monitoring the actions of cryptocurrency whales, as they can greatly affect prices. This time, Dogecoin (DOGE), Litecoin (LTC) and Ripple (XRP) were targeted.

Dogecoin (DOGE)

The interest of cryptocurrencies in Dogecoin may be related to the approval of the Department of Public Administration Efficiency proposed by Elon Musk for the new US administration.

On November 8, the net inflow of large holders showed a negative value, indicating a predominance of sales. However, at the time of writing, the figure has increased to 1.72 billion DOGE. This means that the whales bought tokens worth about $636 million.

The accumulation has significantly affected the value of the coin: over the past seven days, the price of DOGE has soared by 85%. If the whales continue to buy, Dogecoin could break above $0.37 next week. Otherwise, the cryptocurrency will continue to trade in the range.

Litecoin (LTC)

On November 11, addresses holding between 1 million and 10 million LTC held 6.33 million coins. At the time of writing, their balance has grown to 7.57 million: this means that the whales have bought tokens worth about $106 million.

As in the case of DOGE, such a large-scale accumulation has significantly affected the price of the altcoin. Over the past seven days, the Litecoin exchange rate has increased by 20%, rising above $85.87. If the whales continue to build up the balance, LTC could approach $100.

Ripple (XRP)

Cryptocurrencies have also been actively buying Ripple this week. This could be due to the debut of the token on Robinhood and rumors about the possible resignation of SEC Chairman Gary Gensler.

So, on November 12, addresses with a balance of 1 million to 10 million XRP held 3.82 billion coins, and wallets with a balance of 10 million to 100 million held about 6.79 billion. At the time of writing, these figures have increased to 3.97 billion and 6.95 billion, respectively. This means that cryptocurrencies have acquired a total of 310 million tokens worth about $267 million.

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The revenue of the manufacturer of Bitcoin Depot cryptomats fell by 25%

The American manufacturer of cryptocurrency ATMs Bitcoin Depot has published financial results for the third quarter of 2024. According to the report, the company's revenue amounted to $135.3 million, which is 25% less compared to the same period in 2023, when this figure exceeded $179.5 million.

The company also holds cryptocurrency reserves worth more than $1.31 million.

During the third quarter, we made significant progress in expanding our network of Bitcoin ATMs, while simultaneously working to optimize existing devices to increase their profitability. We ended the quarter with 8,300 ATMs, exceeding our goals and reflecting our vision of increasing the availability of bitcoin," said Brandon Mintz, CEO and founder of Bitcoin Depot.

According to data from the company's official website, Bitcoin Depot serves about 16,700 cryptocurrency ATMs worldwide. Most of the devices are located in the USA, Canada and Australia.

In August 2022, Bitcoin Depot went public with an estimated value of $885 million. Shares of the manufacturer of cryptocurrency ATMs are traded on the NASDAQ American stock Exchange under the ticker BTM and are valued at $1.99. Currently, the market capitalization of Bitcoin Depot is approximately $118.2 million.

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Bitcoin ETFs are gaining popularity with the support of the SEC and CFTC

The U.S. Securities and Exchange Commission (SEC) has approved the listing of the environmentally oriented bitcoin ETF 7RCC on the NYSE Arca exchange.

This step occurred simultaneously with the approval of bitcoin options by the Commodity Futures Trading Commission (CFTC).

Bitcoin ETFs are Becoming more Popular
On November 15, the SEC approved a rule change that allows 7RCC to trade its ETFs for bitcoin and carbon credit futures. This decision comes almost a year after 7RCC filed its application in December 2023. The application went through four corrections in the review process that began in March.

The fund plans to invest 80% of its assets in bitcoin and 20% in financial instruments related to carbon credit futures. These futures will be based on indices related to environmental initiatives, including the European Union's Emissions Trading System, the California Carbon Quota and the Greenhouse Gas Initiative.

"The Fund will gain access to carbon credit futures by investing directly only in such contracts. The fund does not plan to invest in carbon credit futures specifically related to bitcoin mining or other related processes," the SEC wrote in its message.

Carbon credit futures help control regulatory risks and promote environmentally responsible investments. 7RCC announced that Gemini crypto exchange will act as a custodian.

The SEC approval came at the same time as the statement by the CFTC's Clearing and Risk Division. The regulator announced that it will no longer control clearing for bitcoin ETF options on the spot market. This function is now performed by the Options Clearing Corporation (OCC), which handles all stock options and their calculations.

The CFTC's decision significantly advances the launch of Bitcoin ETF options. Analysts consider it a key step.

"The CFTC has just issued a notice that opens the way for listing options on bitcoin ETFs. This is the second hurdle that had to be overcome after the SEC. Now the ball is on the OCC's side and they are interested, so they will probably start listing soon," Bloomberg ETF analyst Eric Balchunas said in a statement.

The approval of the 7RCC Bitcoin ETF and the CFTC's moves highlight the growing regulatory support for innovative financial instruments. These developments pave the way for expanding investment opportunities in both the cryptocurrency and traditional markets.

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Net outflow from spot ETFs based on bitcoin and Ethereum amounted to $430 mln

-- On Nov. 15, investment products based on the first cryptocurrency lost more than $370 million.
-- The segment of spot Ethereum-ETFs lost $59.9 million over the past day.
-- The crypto fund from Fidelity was the outflow leader with $175.1 million.

On November 15, 2024, U.S. bitcoin and Ethereum-based cryptocurrency funds recorded net outflows of $430 million, according to SoSo Value. Most of the withdrawals - $370.1 million - came from spot bitcoin-ETFs.

The leader in terms of lost capital was an exchange-traded fund from Fidelity Investments. The investment product under the ticker FBTC lost $175.1 million. The amount of funds under management (AUM) of the fund is $17.37 billion.

In second place in terms of withdrawn capital is the spot bitcoin-ETF from Ark Invest and 21Shares - ARKB. This exchange-traded product has lost $108.6 million over the past day. As for the AUM indicator, it is $4.25 billion for the mentioned product.

On the third position was a cryptocurrency fund from Grayscale Investments. According to the statistics, the investment product under the ticker BTC lost $47 million. Under its management there are assets for $3.28 billion.

In addition, the crypto funds of the following companies also lost money during the past trading day:

-- Grayscale (GBTC) - $22.5 million;
-- VanEck (HODL) - $7.7 million;
-- Bitwise Asset Management (BITB) - $7.4 million;
-- Valkyrie (BRRR) - $1.7 million.

The remaining four investment products ended the previous day with zero inflows/outflows.

The spot Ethereum-ETF segment lost $59.9 million during the same period. Here, the leader in terms of withdrawn capital was the fund from Grayscale. The product under the ticker ETHE lost $40.3 mln.

In second place in terms of lost funds was the spot Ethereum-ETF from Fidelity. The crypto fund under the ticker FETH recorded a withdrawal of $18.4 million. The top three is followed by the product from VanEck (ETHV) with an indicator of $1.1 million.

At the same time, five spot Ethereum-ETFs ended the last trading day without any movement of funds. The data on the cryptocurrency fund from BlackRock in this asset class was not updated, noted in SoSo Value.

Recall, we wrote that the U.S. Securities and Exchange Commission again postponed the decision on options on spot Ethereum-ETF.

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AI tokens that distinguished themselves this week

In recent days, the crypto market has shown some cooling. Nevertheless, some assets related to artificial intelligence (AI) still managed to increase in value.

Among the leaders were AI tokens AIOZ, RENDER and NEAR. Let's find out what to expect from these altcoins next.

AIOZ Network (AIOZ)

AIOZ is the native token of AIOZ Network, a decentralized platform that uses a global network of nodes to distribute content. Over the past week, the asset's price has risen 45.63%.

Render (RENDER)

The price of leading AI token RENDER has risen 34% over the past seven days. During this period, the asset hit a five-month high of $7.20. At the time of writing, it is trading at $6.69 and is still in an uptrend.

Near Protocol (NEAR)

At the time of writing, NEAR is trading around $5.52: it has recorded a 31% gain for the week. The Elder-Ray Index at 1.07 confirms that the bulls continue to control the market.

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