The capitalization of SUI dropped by $900 million

There was a serious glitch in the Sui network today. According to Suivision and Suiscan, the blockchain stopped producing blocks at 12:15 Moscow time and has not yet restored its operation. This has caused serious concerns among the participants of the crypto community. Meanwhile, the quotes of the SUI cryptocurrency fell by 9.2% to $3.42. The capitalization of the project lost about $900 million and dropped to $9.76 billion.

The Sui team promptly responded to the incident. According to community representatives, the problem is related to errors in some validators. The developers are actively studying the situation and trying to restore the stability of the network. However, no specific time frame for the decision has yet been announced. The fall in the value of the native digital asset and the network failure is causing concern to investors, who are afraid of further problems and a possible decrease in confidence in the project.

It is worth noting that 2 days ago, the main Sui network was updated to version 1.37.3, and the protocol to version 68. The update was supposed to improve network performance and reliability. However, it is possible that the failure may be due to recent changes in the system.

Analysts believe that prolonged shutdowns of the blockchain can negatively affect Sui's position in the market. Competitors, including Ethereum and Solana, continue to develop their ecosystems and attract users. and Sui may lose part of the audience if it does not fix the problem promptly.

The situation remains tense. Investors are advised to keep an eye on updates from the project team. Returning the network to normal operation and a convincing explanation of the reasons for the failure can mitigate the consequences. However, if the problem drags on, it may lead to a deeper drop in the price of the token and a decrease in interest in the project.

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Bots could provide record figures in the Solana blockchain

According to Glassnode, on November 16, the volume of transactions in the Solana blockchain reached a record high of $318 billion. This is almost three times higher than the market capitalization of the Solana (SOL) cryptocurrency, which currently stands at about $112.5 billion. The number of active addresses on the network has also grown to a maximum of 22 million.

Experts from the analytical company Glassnode noted that at the same time, the average volume of transactions on the Solana network decreased. This raised questions among experts about the reliability of blockchain indicators, since organic growth is accompanied by an increase in average indicators.

Such dynamics of growth in network activity may indicate the activity of bots on the Solana network," Glassnode analysts wrote.

Another record indicator of Solana, which was doubted by experts, was the maximum trading volume of $6.93 billion on the network's DEX platforms. Thus, according to DefiLlama, on November 19, the Raydium exchange accounted for 74% of the total trading volume. However, a closer analysis of the exchange's liquidity pools shows that many of them have virtually no liquidity and generate unrealistic trading volumes.

For example, there was only $7 of liquidity in the SOL-HAT pool, but the trading volume per day was almost $400,000.

This is not the first time that Glassnode analysts have claimed the presence of inorganic activity in Solana. On November 4, they claimed that "the sharp increase in the volume of transactions on the network was caused by the high activity of wallets using multiple accounts."

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Cardano (ADA) may fall below $0.70 and here's why

Recently, the Cardano (ADA) exchange rate tried to break through the $0.80 mark, but failed. Since then, the price has rolled back and cannot recover in any way, which causes concern and pessimism among investors

We are looking into what is happening with Cardano (ADA) and how real the risks of further decline are.

Cardano's liquidity concentration is decreasing

According to Coinglass, the liquidation map is one of the key indicators suggesting that the price of ADA may decrease. This map shows the price levels at which mass liquidations can occur, and also identifies price zones with a high concentration of liquidity.

The Cardano liquidation map shows that the concentration area has shifted to $0.69. This means that the asset price may roll back from current levels to $0.69 in the near future. In general, this forecast is consistent with market conditions.

The drop in ADA trading volume also hints at a potential price drop. This figure has decreased from almost $6 billion on November 16 to $1.78 billion today. This means that the market's interest in Cardano is falling.

The combination of the two factors described above increases the likelihood of the cryptocurrency falling in the near future.

ADA Forecast: Next stop is $0.63

At the time of writing this analysis, ADA is trading at $0.7271, having not shown any strongly directional dynamics in the last 24 hours. Nevertheless, over the past seven and 14 days, cryptocurrencies have increased in price by 27% and 119%, respectively.

The daily chart (attached below) shows that the distance between the Bollinger Bands (BB) is increasing. This technical indicator helps to measure the level of volatility of the cryptocurrency, as well as the degree of its overbought/oversold.

In the case of Cardano, the location of the indicator suggests that the rate is in danger of a drawdown below $0.68. If the selling pressure increases further, the altcoin may fall in price to $ 0.63.

Under favorable conditions, however, ADA will get a chance to climb to the $0.82 mark. This will happen if the activity of buyers increases, and investors prefer to hold assets rather than sell them.

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This week's Top New tokens: Bitfinity, MicroGPT and MemeFi

New projects are constantly emerging in the world of cryptocurrencies, and the key event for any beginner blockchain project is the generation of tokens (TGE)

During the TGE, the crypto project creates tokens and distributes them to investors and users. This step is the next step after attracting investment and product development. We tell you which tokens attracted the attention of the crypto community this week.

Tokens worth paying attention to this week

After TGE, tokens become available for trading or use in the project ecosystem. A successful TGE can significantly increase the interest and liquidity of the project, determining its further growth.

For investors, this is a chance to purchase coins at an early stage, often at lower prices. Here are the projects releasing tokens this week.

Bitfinity (BTF)
Bitfinity is a second—tier network for the Bitcoin ecosystem, created on the basis of the Internet Computer Protocol (ICP) using the Ethereum Virtual Machine (EVM). In the latest round of financing, the project raised $130 million from companies such as Polychain Capital and ParaFi Capital.

Zyfi (ZFI)
Zyfi is a payment service with convenient integration. In the last round, the project received $2 million in financing, and its estimated cost rose to $20 million. The TGE of the ZFI token will be held on November 19 with the support of PancakeSwap. The exact time and exchange will be announced later.

MicroGPT (MICRO)
This is an artificial intelligence platform. It offers developers AI-based tools that will help improve development efficiency. MicroGPT is designed to optimize and democratize software development.

It is not yet known how much funds the project has managed to raise, but TGE will take place on November 20 at 19:00 UTC (22:00 Moscow time), and the MICRO token will appear on exchanges Gate.io and MEXC. In the last round of financing, the estimated cost of the project reached $3.5 million.

Ponder (PNDR)
Ponder is an AI engine for comparing web3 trends. It is powered by EigenLayer and offers a fully integrated tool for comparing cryptocurrency transactions.

The project attracted private financing in the amount of $1.1 million, and its estimated cost in the last round reached $10 million. The listing will take place on the KuCoin crypto exchange at a price of $0.10, and TGE is scheduled for November 20.

MemeFi (MEMEFI)
This is a web3 game combining PvP and PvE gameplay. The amount of private financing remains unknown, but the project reached an estimate of $125 million in the previous round. Exchanges for listing include OKX, Bitget, Bybit and Gate.io , and TGE is scheduled for November 22 at 13:00 UTC (16:00 Moscow time).

The TGE of these projects opens up interesting opportunities and helps to attract liquidity to the market. However, it is important for investors to conduct their own research.

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DOGE: Long-term investors continue to sell

The popular memcoin Dogecoin (DOGE) recently reached a three-year high of $0.43, but then dropped to $0.38

On-chain analysis shows that the sudden rise in price has forced many long-term holders to start taking profits. If this trend continues, DOGE may soon lose a significant portion of the points scored.

Long-term hodlers lock in profits

The on-chain indicator of Mean coin age has decreased by 1% over the past week, according to data from Santiment. The average age of the coins shows how long, on average, the coins are in possession before they are moved or sold. The decrease in this indicator indicates that coins that have been stored for a long time are starting to be sold more actively. This is often considered a bearish signal that long-term holders are starting to take profits.

High indicators of the market and realized value ratio (MVRV) indicate that memcoin may be overvalued now. This could encourage his long-term hodlers to sell tokens to lock in profits. According to Santiment, the current MVRV ratio for DOGE is 232.36%.

MVRV is a key indicator of an asset's profitability. He compares its current market value with the price at which the coins were last moved on the blockchain. This allows you to see how much the price differs from historical trends. A positive MVRV value indicates that the market value is higher than realized. This may indicate that the asset is overvalued. Many investors view this as a sell signal to lock in profits.

The MVRV value of 236.36% means that its current market value is 236% higher than realized. If all holders decide to sell their coins, they can earn an average of 236% profit. Such a high MVRV indicator may portend a period of price correction, as more investors will begin to take profits.

DOGE Forecast: Long-term investors should stop selling

DOGE is currently trading slightly below the $0.39 resistance level. Increased sales may push the price back to the $0.31 support level. If he does not stand, the coin may fall even lower, to $0.30, and potentially to $0.21.

This will significantly reduce the chances of memcoin rallying above $0.47 and returning to the $0.50 mark, which it has not visited since May 2021.

However, if the market mood improves and long-term hodlers hold their assets, increased demand for DOGE may push the price above $0.47. This will bring it closer to the $0.50 mark again.

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Italian lawmakers oppose raising the tax on cryptocurrencies

Italian lawmakers are opposed to the government's plans to raise taxes on capital gains and expand the scope of crypto assets. These proposals, which underpin Prime Minister Georgia Meloni's 2024 budget, have been criticized for potentially hindering innovation and affecting small businesses.

They insist on a compromise on the cryptocurrency tax

Economy Minister Giancarlo Giorgetti has proposed raising the capital gains tax on cryptocurrencies from 26% to 42%, bringing it in line with other financial income. However, some members of his ruling coalition reportedly oppose a sharp tax increase and propose limiting its increase to 28%, Reuters reports.

Against the background of the internal split, Giorgetti made it clear that he was ready to reconsider his position and explore alternative tax structures to resolve differences. The debate also focuses on the digital tax in Italy, a levy introduced in 2019 and aimed at tech giants such as Meta, Google and Amazon. This restriction is designed to find a balance between generating income and maintaining market competitiveness.

The current tax of 3% applies only to companies with annual income worldwide of more than 750 million euros and income in Italy of more than 5.5 million euros. The Ministry of Finance's proposal to abolish these thresholds has raised concerns about the impact on small and medium-sized enterprises. In response, the Forward Italy party, which is part of the ruling coalition, introduced an amendment to maintain these thresholds.

Legislators argue that the thresholds prevent excessive financial burden on small and medium-sized enterprises, while at the same time placing a tax burden on large multinational corporations. Proponents of the expansion of the digital tax argue that it can strengthen Italy's financial position. However, opponents warn of potential diplomatic tensions with the United States, which has criticized such fees as discriminatory against American companies.

Income balancing and diplomacy

Proponents of the expansion of the digital tax argue that it can strengthen Italy's financial position. However, opponents warn of potential diplomatic tensions with the United States, which has criticized such fees as discriminatory against American companies. Giorgetti acknowledged these problems and suggested that maintaining targeted measures could help avoid further controversy.

With more than 300 proposed amendments to the 2024 budget, the debate on taxes on cryptocurrencies and Internet resources now poses a serious problem for Prime Minister Meloni's government.

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The price of bitcoin has once again set a price high above $94,000

On the evening of November 19, bitcoin (BTC) rose by 3.3% and set a new price record at $94,040. However, its price quickly adjusted to the range of $92,000.

The daily price spike coincided with brisk trading activity: in just 24 hours, $84.79 billion worth of bitcoins changed hands. Sharp price fluctuations also triggered a wave of liquidations in the derivatives market, destroying $44.4 million of BTC short positions over the same period of time.

The growth of bitcoin indicates its emergence as a heavyweight in the financial arena, which attracts huge investments and arouses the interest of traders. Experts attribute this latest growth to the actions of organizations, as well as to the hype around regulated trading options aimed at the Blackrock IBIT exchange-traded fund (ETF).

It is possible that retail and institutional players finally saw bitcoin as a hedge against economic uncertainty, appreciating its independence from government actions, protection from censorship and inflation due to limited supply.

The longevity of this momentum remains unknown, but analysts predicting growth to a new record of $100,000 by the end of 2024 have found support for their assumptions.

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Michael Saylor will tell Microsoft Board about the Bitcoin purchase strategy

Bitcoin bull and chairman of the board of directors of MicroStrategy, Michael Saylor, says he has agreed to give a three-minute presentation to the Microsoft board of directors about investing in bitcoin.

"The activist who drafted this proposal contacted me to present it to the board of directors, and I agreed to make a three—minute presentation — that's all I'm allowed to do—and I'm going to present it to the board of directors," Saylor said at X Spaces hosted by VanEck on November 19.

Saylor said he had previously offered to meet with Microsoft CEO Satya Nadella "in private" to discuss the topic, but the offer was not accepted.

"So you'll see me putting together a three—minute proposal for Microsoft [...] and we'll send it to the board of directors," he added.

The proposal was put forward by the National Center for Public Policy Research (NCPPR), which drew attention to MicroStrategy's investment strategy for bitcoin and the fact that MicroStrategy's share price surpassed Microsoft's share price by more than 300% this year, "despite the fact that the company is engaged in only part of Microsoft's business."

"I think it's a good idea to put it on the agenda of every company. It should be on the agenda of Berkshire Hathaway, Apple, Google and Meta, because they all have huge amounts of money, and they all burn shareholder value," Saylor continued.

He claimed that 98.5% of Microsoft's enterprise value (the total value of the company) depends on quarterly profit, while 1.5% of the share price is accounted for by tangible assets.

"Stocks would be much more stable and less risky if half of their value was based on tangible assets or property such as bitcoin. So I think there are good arguments to be made. I think the shareholders should do it."

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Bitcoin (BTC) Reaches a Critical Price Level

In addition to exceeding previous highs, Bitcoin reached a critical price level of $92,000, which strengthened its position in the current bullish cycle. As Bitcoin has once again proven its resilience and growth potential, this milestone gives new hope to the market. A significant change in market sentiment is reflected in the chart, which shows that Bitcoin has decisively broken above the long descending channel. This breakthrough is accompanied by high volume, which indicates the active participation of both institutional and retail investors.

Once a difficult target, the $90,000 level is now a possible support area for the cryptocurrency. Investors expect the $100,000 mark to be the next significant psychological and technical barrier. Bitcoin can set the stage for a much bigger rally if it can maintain its current momentum and successfully break through this level. Such breakthroughs often lead to exponential growth, according to historical data, especially when combined with a robust macroeconomic environment and growing adoption. On the other hand, Bitcoin should remain above $85,000, the most important support level.

A short-term correction that tests lower support levels around $75,000 may result from any breakout of this level. However, the structure of the market as a whole is still optimistic, and a decrease may provide chances for additional accumulation. Since Bitcoin surpassed its previous peak, the market is overwhelmingly in a positive mood.

Given that the asset appears to be strengthening its position as a reliable means of saving in the long term, investors are particularly optimistic. The goal of Bitcoin traders should be to maintain current support levels and monitor the approach to the $100,000 mark, which can become a door to even greater heights.

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Romanian Authorities Want to provide Tax benefits to crypto investors

The Romanian Parliament has adopted amendments to the Tax Code on temporary amnesty for crypto investors. The amendments should exempt from taxation income earned by individuals investing in cryptocurrencies. The amnesty is valid until July 31, 2025.

The authors of the amendment to the Tax Code stated that the measure would be beneficial to the state, which would be able to assess the real scale of the digital asset market, and would also allow flooding the Romanian credit and financial market with funds from the sale of crypto assets.

"There are between 500,000 and 600,000 crypto investors in Romania, and they could bring money into the real economy — at this difficult time for the country. Thanks to the temporary measure, owners of digital assets will be able to generate additional cash flow in the economy," the explanatory note to the bill says.

In accordance with the provisions of current Romanian legislation, private crypto investors are required to pay 10% income tax on any capital gains or any additional income from investments in cryptocurrency if the total income for the financial year exceeded 600 lei ($128).

The National Agency for Tax Administration (ANAF) believes that the period of the tax amnesty may be the right time for Romanian investors with significant reserves of cryptocurrency to sell assets and make a large tax-free profit. With the entry into force of the rules of the European regulation of the MiCA crypto market, the relevant legal obligations will become enforceable in the jurisdiction of Romania, the officials explained.

A year earlier, Romanian law enforcement agencies conducted dozens of searches of crypto traders suspected of hiding income from cryptocurrency transactions and tax evasion.

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The developers of Hamster Kombat have planned the return of players

The developers of Hamster Kombat expected the players to leave and intend to attract participants of the first season, as well as new users. This is reported by Cointelegraph with reference to a statement by a representative of the project team.

In the summer of 2024, the tapalka audience reached 300 million, but after an unsuccessful, according to users, aidrop, the project lost 260 million players. The price of the HMSTR token, which was at $0.011 on the day of listing on September 26, subsequently collapsed to $0.002254. After the fall, it began to recover against the background of bitcoin's growth to new historical highs.

The project team stated that the drop in activity is "expected." Interest in the game "grows and decreases."

"Since our project has seasons, this is quite expected. We are currently in the interim period and preparing for the launch of the second season. Even now, our MAU figure remains above 30 million, which indicates sustained interest," said a representative of Hamster Kombat.

In October, the developers of Hamster Kombat commented on the collapse of the HMSTR price by the dominance of supply over demand.

The team will strive to "resume interaction" with the participants of the first season, while attracting new players.

"Now we have more than 11 million token holders, which allows us to compete with the leading blockchains. We plan to increase the number of HMSTR owners and enter new markets," the project representative said.

The project "managed to save the main group" of players, amounting to 30 million users, who are "actively involved in the gameplay" after the first aidrop, the source said.

Recall that Telegram developers have released a major update that provided full-screen mode for mini-applications, icons on the home screen, access to geolocation and other functions.

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Vitalik Buterin has released 400 NFT Patron

The crypto community drew attention to the actions of the vitalik.eth address associated with the founder of Ethereum Vitalik Buterin. Recently, 32 ETH was transferred from the Ethereum network to the Base, and then 400 NFT Patron were released. Such steps have aroused interest and questions about possible motives. It is noteworthy that Patron NFT was previously used to attract investments.

The researchers recalled that the Infinex project, related to the trade of decentralized contracts, raised $65.3 million by releasing Patron NFT. This made the generation of new tokens a significant event, as they could be used to expand the ecosystem or attract additional funds. The Infinex platform was launched by the Synthetix team.

Transferring funds and creating an NFT from the vitalik.eth address can be part of testing the functionality or support of the Base platform. This network aims to gain a place among the popular blockchains of the 2nd level (Layer 2). Vitalik's actions are often regarded as signals for the further development of certain areas in the crypto industry.

At the same time, other issues attract attention to Patron NFT. Given the significant amounts received through their sale, it can be assumed that they will become an important tool for decentralized platforms. Patron NFT can be used to participate in project management, gain access to new features, or receive a portion of revenue from operations.

Although Buterin's actions may be a simple experiment, they raise the topic of using NFT in financing and supporting projects. This highlights the growing importance of tokens that go beyond simple digital collectibles. Especially if there are figures like Vitalik behind them.

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Why Hedera (HBAR) is growing and what to expect from the exchange rate of the coin

The price of Hedera (HBAR) has jumped sharply. The cryptocurrency has risen in price by 32% in the last 24 hours and by more than 160% in a week. The ADX indicates a strengthening trend, and the Ichimoku cloud confirms the bullish momentum

The dynamics of the HBAR price hints at a possible further increase. Resistance levels are at $0.14 and $0.182. However, if the uptrend weakens, the support zones at the levels of $0.098 and $0.068 will play a key role in determining the future direction of the HBAR.

Why is HBAR growing?

The cryptocurrency is getting more expensive on the news that Canary Capital has applied to launch an ETF for Hedera (HBAR). The instrument, if approved by the U.S. Securities and Exchange Commission (SEC), will open a channel for investment inflows that can support the growth of the cryptocurrency exchange rate.

Donald Trump, who won the US presidential election, promises to reduce regulatory pressure on the crypto industry. In particular, he plans to fire the current head of the SEC, Gary Gensler, whose repression turned into heavy losses for the digital asset market.

With regulatory pressure decreasing, the Hedera ETF (HBAR) has every chance of approval.

Hedera Forecast (HBAR)

The prospects for further growth are open to the cryptocurrency. We tell you which signals indicate the probability of Hedera (HBAR) moving to new peaks.

HBAR Price Forecast

If the current uptrend continues, the HBAR could reach its nearest strong support at $0.14, which would be the highest price since March. Overcoming this level may open the way to further growth, possibly up to $0.182, which will increase the cost by 54% from current figures.

The optimistic scenario is confirmed by the strong momentum shown by the latest technical analyses.

On the other hand, if the trend changes, the HBAR may roll back to the first support at $0.098. If this level does not hold, the price may drop to $0.068.

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More than 60% of Litecoin investors are in profit due to the growth of the asset

According to the IntoTheBlock analytical company, more than 60% of Litecoin (LTC) holders are now in profit. This is the highest figure since April 2024. Then it rose to 75% after the Commodity Futures Trading Commission declared LTC a commodity.

The recent growth of the Litecoin exchange rate began after the comic announcement by the developers of the asset that the cryptocurrency had received the status of a memcoin. A simple post with the inscription "Now I am a memcoin" led to the fact that the LTC rate rose by more than 15%, exceeding the $85 mark. The trading volume of the asset also increased by more than 33%, reaching $950 million.

However, the LTC rate is still 77% below the 2021 record high of $412.

According to IntoTheBlock analysts, Litecoin has the potential to reach new highs. Moreover, short-term holders of the asset are now demonstrating increased demand for altcoin. LTC balances on their cryptocurrencies increased by 31%. Usually, such interest precedes a jump in asset prices.

Another factor that influenced the mood of investors was the interest in LTC from miners — since the beginning of 2024, the Litecoin hashrate has increased by about 30% to 1.35 Px/s. Finally, in October, asset manager Canary Capital applied for the first spot LTC ETF, which also became a reason for optimism among asset holders.

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The third week of Bitcoin's parabolic growth: analysis from Rekt Capital

In his new video review, Rekt Capital analyst presented a detailed analysis of the current bitcoin cycle. According to him, the parabolic growth phase, which started just three weeks ago, may last another 300 days. This opens up exciting prospects for the crypto market.

Anatomy of growth

After eight months of tedious consolidation, bitcoin is finally showing signs of awakening. And if you think that you are already late for this celebration of life, relax. We are only at the beginning of the parabolic phase, which usually lasts about a year.

Historical data shows a clear pattern:

-- The bear market lasts about a year (360-390 days)
-- The accumulation period can last for a year and a half
-- There are 3 major corrections in the parabolic phase
-- Each subsequent correction becomes shorter than the previous one

What awaits us ahead

In 2021, the first growth phase included 10-11 weeks of continuous upswing with two minor drawdowns. This was followed by a correction lasting 2-4 weeks.

The most interesting thing is that with the development of the correction cycle, they become more and more superficial. This indicates an aggressive buyout of any drawdowns by large players in the late stages of the parabolic phase.

Action strategy

Now we are witnessing the formation of new weekly support and resistance levels. Each weekly candle has characteristic lower shadows — this is a normal phenomenon within the framework of an uptrend.

The first and second corrections in the parabolic phase provide the most favorable opportunities to enter the market. But the third correction will be the shortest and shallowest — but at the same time the most risky.

The fourth correction? Congratulations, this is already a bear market that will last for a whole year.

It's "buy drawdown" time and altcoin season on the market right now. Then the first correction of the parabolic phase will come — one of the most successful moments for buying both bitcoin and altcoins

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SEC Postpones Decision on Franklin Crypto Index ETF, Dubbed EZPZ

Franklin Templeton, one of the issuers of exchange-traded funds (ETFs) in the field of cryptocurrencies, has expressed interest in issuing an exchange-traded fund based on a crypto index, but the authorities are still postponing its release.

The Securities and Exchange Commission (SEC) has postponed the deadline for approval of the Franklin Templeton crypto index exchange-traded fund. According to a November 20 statement, the authorities expressed concern about the sufficient amount of time needed to decide whether the fund would be approved or rejected.

"The Commission may indicate that if it considers such a longer period appropriate and publishes its reasons for such a decision, or if a self—regulatory organization agrees to this, the Commission will either approve the proposed rule change, reject it, or initiate a case to determine whether the proposed rule change should be rejected," the Commission documents say. Securities and Exchange Commission.

On August 17, based on their application, Franklin proposed creating a crypto index ETF by investing in bitcoin (BTC) and Ethereum (ETH) under the ticker EZPZ. The proposed fund will combine the two most popular cryptocurrencies in the world within the framework of one index in an unspecified ratio weighted by market capitalization.

If approved by the authorities, EZPZ will use the Coinbase repository and trade on the Cboe BZX exchange. Franklin can add another cryptocurrency to the index, but for this he needs to get approval from the Securities and Exchange Commission.

Franklin Templeton is Switching to Cryptocurrency

Franklin Templeton, based in New York, is one of the most flexible asset managers, which allows investors to make more profit from the movement of cryptocurrency prices. After receiving permission in January to create a spot bitcoin ETF, Franklin created another product related to cryptocurrency.

On October 31, they tokenized money market funds in several blockchains, including Base, Arbitrum, Polygon, Avalanche, Aptos and Stellar. The assets of the U.S. Government Money Market Fund (FOBXX) in this blockchain amount to $ 410 million.

Franklin is also working with SBI Group in Japan to prepare for the possibility of adopting a cryptocurrency fund in that country, but the results of this work have not yet been published.

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New Bitcoin records have prompted hodlers to take profits

This week, Bitcoin (BTC) shows increased volatility, setting several price records per day, followed by short-term pullbacks.

Given that the 50-day moving average remains above the 200-day moving average, it is highly likely that the long-term uptrend will continue in the future.

The Glassnode chart (see below) showed that the change in the net position of the hodlers revealed a significant shift in the behavior of long-term holders. After several months of accumulation (indicated by the green line), there was a sharp transition to distribution (red stripes).

On November 20, the hodler chart reflected the most negative trend since June, as more than 37,000 BTC worth more than $3.4 billion were sold. Thus, at the moment when bitcoin reached historical highs, long-term investors decided to lock in profits.

This behavior is typical for prolonged rallies, when the temptation of large profits tempts even the most persistent bitcoin holders.

CryptoQuant's chart of bitcoin exchange net flows further highlighted the ongoing sell-off. The growth of stock inflows suggests that holders are transferring their BTC to exchanges, probably for liquidation.

If the inflow on the exchange continues to outpace the outflow, this could create sustained selling pressure, which will make it difficult for bitcoin to restore its historical maximum in the near future.

However, the current decrease in inflows may indicate that most of the sales have already occurred.

Now technical and on-chain indicators indicate that the trend remains bullish, which does not exclude short-term corrections and consolidation.

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Elixir and Securitize have launched the RWA program for DeFi

Elixir, together with the Securitize platform, has introduced a new deUSD RWA Institutional Program, which simplifies the access of institutional holders of tokenized assets to decentralized finance (DeFi). The initiative makes it possible to use the deUSD digital currency as the main means for interacting with DeFi applications, while maintaining the current security structure and risk profile.

Now owners of tokenized assets issued through Securitize, such as BUIDL from BlackRock and SCOPE from Hamilton Lane, can freely receive isolated returns in DeFi. This was made possible thanks to the liquidity provided by deUSD, which already provides more than $110 million in digital assets on the blockchain.

The main advantage of the program is that it makes tokenized real assets (RWA) secured and more flexible. Previously, they often remained locked in institutional accounts, which limited their access to decentralized ecosystems. Now RWA can be quickly exchanged for USDC through existing liquidity mechanisms.

The program has already attracted significant interest from major investors. According to Elixir, the amount of registered capital for participation in the program exceeds $ 1 billion. This highlights the growing demand for solutions that combine traditional finance with blockchain capabilities.

The basis for deUSD is income from lending and treasury assets through USDS, which allows us to guarantee stability. Thanks to the new mechanism, holders of tokenized assets can take advantage of DeFi without changing their risk profile. According to experts, the launch of the program can be an important step towards integrating institutional investors into DeFi.

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ETH stabilizes amid record inflows in ETFs

Ethereum started November with an impressive 40% growth, but it turned out to be difficult for the altcoin king to maintain this momentum

Price stabilization above $3,000 and significant interest from institutional investors may help to resume the bullish trend. One of the pillars of this growth is Ethereum ETFs, which attract record amounts of investment.

Ethereum receives support from institutions

Last week, Ethereum ETFs recorded the largest weekly inflows since launch. BlackRock led the trend with an impressive $286 million, while total inflows across all ETFs reached $550 million. This influx reflects the growing confidence of institutional investors, driven by the recovery in the price of Ethereum and recent record highs for bitcoin.

The increase in activity in the ETF segment strengthens Ethereum's position in the crypto market as a diversified asset. This trend potentially provides the necessary momentum to overcome the current price stagnation. The market mood seems to be leaning towards a bullish outlook.

The institutional demand for Ethereum extends beyond ETFs. According to the latest CoinShares report on net ETP flows, in November, the capital inflow of institutions to Ethereum amounted to $789 million. These large-scale investments reflect renewed interest in ETH as a long-term asset. They also highlight its growing role in the investment portfolios of major players. Such investments can play a key role in price growth.

ETH Forecast: a look into the future

Ethereum is now confidently holding above the critical mark of $3,001. This Fibonacci level is 61.8%, which is the basis of the bull market and creates the basis for potential growth.

With continued institutional activity and a positive mood in the market, altcoin can overcome the resistance at $3,248 and continue to grow. This will strengthen his position and consolidate the bullish trend.

A decrease in the price may cast doubt on the bullish outlook and weaken investor confidence. Ethereum's ability to maintain momentum depends on maintaining key support levels and leveraging institutional support.

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QCP Capital announced the start date of the alctoin season

Experts at QCP Capital said that as soon as the bitcoin dominance index drops to 58%, the "real altcoin season" will begin on the market.

QCP Capital believes that some investors are not yet ready to abandon plans to invest in the first cryptocurrency.

"Historically, altcoins show growth whenever major cryptocurrencies consolidate after a significant rally — profits move into coins with a lower capitalization. But as soon as bitcoin's dominance drops below 58%, the altcoin season will begin," experts say.

In their opinion, before consolidation, bitcoin may have time to overcome the psychological milestone of $ 100,000, which is important for investors, and this will happen before the end of the year.

"We expect a pro—currency policy from the Donald Trump administration and a further reduction in interest rates by the US Federal Reserve, and we would not be surprised if the altcoin season is in full swing in the coming months," analysts said.

Now, despite the outflow of capital from spot ETFs to bitcoin and ether that occurred at the end of last week, the first cryptocurrency is showing positive dynamics, QCP Capital recalled.

Earlier, representatives of Glassnode and Fasanara Digital presented 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.

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Michael Saylor of MicroStrategy does not recommend Ripple

In a recent interview, Michael Saylor, co-founder and executive chairman of MicroStrategy, reiterated his position on bitcoin, stating: "I'm 100% for Bitcoin." Saylor's commitment to bitcoin is well known, but his recent comments once again confirm his unwavering position regarding this token.

In an interview, Saylor expressed his desire for the digital asset industry to grow exponentially, increasing from the current estimate of $1 trillion to a whopping $500 trillion.

Michael Saylor will Never Recommend Ripple

During the discussion, the interviewer asked if there might ever come a time when Saylor would be able to support or recommend Ripple, a well-known digital asset that is often associated with cross-border payment solutions. Saylor immediately rejected the idea, stating: "I would not recommend securities because securities have a counterparty." He stressed that his investment philosophy is based on the belief that bitcoin is the only digital asset he fully trusts.

Diversification undermines the basic principles

Saylor further explained that his reluctance to support other cryptocurrencies or securities is due to his desire to adhere to a focused investment strategy. "You have to stay in your territory," he said, suggesting that diversifying into other digital assets could weaken his core principles.

Despite the growing number of digital assets and various blockchain projects, Saylor remains firmly convinced that bitcoin is the future of finance. His opinion coincides with the opinion of many representatives of the crypto community, who see bitcoin as a protection against inflation and a means of saving.

As the digital asset market continues to evolve, Saylor's ideas will undoubtedly influence investors who are looking for recommendations in this complex and rapidly changing environment.

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STX Coin is preparing for significant growth

Despite a sluggish October for cryptocurrency lovers, November promises to break records. Bitcoin has soared to unprecedented heights, pushing many altcoins to approach or reach record highs. Historical data suggests that past highs will often be surpassed, hinting at a bullish trend in the coming months.

What does the graph show about STX Coin?

A recent analysis conducted by Michael Poppe shows that STX Coin is most likely on the verge of a breakthrough. Since bitcoin is trading at $92,500, the expert believes that STX Coin is preparing for a significant price increase after a long period of consolidation lasting more than 200 days, especially after the successful Nakamoto update.

Can Altcoins experience a sharp increase soon?

Miles Deutscher analyzed the potential effectiveness of altcoins by examining the TOTAL3 chart, which does not take into account larger cryptocurrencies. He predicts a possible tripling of the altcoin market, while some altcoins may rise in price up to 30 times if they follow past market trends.

-- STX Coin is consolidating and may break previous price records.
-- The stability of bitcoin at a level above $92,500 may mean further growth of altcoins.
-- The altcoin market may witness a sharp increase if historical patterns persist.

The current market dynamics indicate the potential for significant growth, especially for STX Coin and other altcoins, as they seem to be preparing for favorable conditions in the future.

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Rumble shares rose 9% after the founder thought about buying Bitcoin

Rumble, a YouTube alternative popular with the far-right and conspiracy theorists, has become the latest company to consider adding bitcoin to its balance sheet.

Shares of Rumble Inc (RUM) rose 9%, reaching a high of $6.20 in over-the-counter trading on November 19 after the company's founder and CEO Chris Pavlovsky previously asked a question about X, which received widespread support from the crypto community.

"Should Rumble add Bitcoin to its balance?" asked Pawlowski in the X survey, to which about 29,000 people answered "Yes."

“yeah. I will be happy to help if necessary," said Jack Mullers, CEO and founder of Strike, a bitcoin payments company.

Michael Saylor, chairman of Bitcoin buying MicroStrategy, offered to discuss with Pawlowski how this could be done, and Pawlowski seemed to agree.

Rumble shares closed up 2.5% during the day at $5.68, and then peaked after hours at $6.20, which has now dropped to $5.78, marking a 1.76% increase since the market closed, according to Google Finance.

Rumble, based in Florida and Ontario, operates a video sharing platform of the same name, known for its soft content moderation policy. Its cloud services division also operates the social media platform Truth Social, owned by Donald Trump.

Rumble has approximately 67 million monthly active users, and in September 2022 it began public trading on the Nasdaq exchange.

As of September 30, 2024, Rumble's balance sheet in the form of cash, cash equivalents and liquid securities was approximately $132 million.

In the third quarter, the platform also generated about $25 million in revenue, which is 39% more than last year.

The company's shares fell in value after the results for the third quarter were published last week, according to which the company's revenue fell short of analysts' expectations by 14%, and earnings per share (EPS) fell below expectations by 20%.

If Rumble adds bitcoin to its balance sheet, it will join the growing list of companies that have made the move this year.

On November 18, the Genius Group, an artificial intelligence company, took the first steps as part of its "bitcoin first" strategy, buying 110 bitcoins for $ 10 million. Ultimately, the company wants to store 90% of its reserves in bitcoins.

Meanwhile, the Japanese company Metaplanet has just bought $11.3 million worth of bitcoins. According to Bitcoin Treasuries, as of November 19, the company owns 1,142.2 bitcoins.

Semler Scientific, a medical equipment manufacturer, also recently acquired $17.7 million worth of bitcoins, increasing its assets to 1,273.

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That's how high Dogecoin can grow if BTC reaches $250k, ETH - $15k, and XRP — $5

Over the past two weeks, the cryptocurrency market has been showing visible signs of huge potential. The conclusion of the US presidential election on November 5 has again caused optimism among market participants, as Bitcoin (BTC) declares a new ATH above $93 thousand, and altcoins show rapid jumps.

The Cryptocurrency market is in a Bullish Phase

Against the background of the prevailing bullish mood, numerous market speculators adjusted their price targets for most of the market. Well-known market analyst Ash Crypto is one such person.

In a recent disclosure, he presented new targets for Bitcoin and 15 other crypto assets, including Ethereum, XRP and Dogecoin (DOGE), for the next six to twelve months. The latest prediction appeared against the background of a consolidation phase, during which BTC fell by 3.52% on November 14, and DOGE collapsed by as much as 9.14%.

The analyst suggested that Bitcoin, which is currently trading at $91,165, could rise sharply to a price range of $150,000 to $250,000 from now until the fourth quarter of 2025. This will mean an increase from 65% to 174% for BTC.

In addition, his price target for Ethereum, the king of altcoins, is in the range of $10,000 to $15,000. At the current ETH price of $3,150, it will need to grow by 217% to 376% to reach this range. Ash also predicts that XRP could rise by 228% to 447% to reach a price of $3 to $5.

Dogecoin Price Forecast

Meanwhile, in a market scenario with such indicators, the analyst believes that Dogecoin can perform excellently. Dogecoin is currently trading at $0.377, up 137% since November 3. Ash Crypto expects DOGE to rise another 165% to $1 as the minimum maximum price for the ongoing bullish rally.

However, he also expects the meme coin to grow even more from $1 to a price of $3 if market conditions are favorable. In order for Dogecoin to qualify for the $3 level, it will need to grow by a huge 695%, which may make it one of the market leaders.

The noticeable growth of Dogecoin over the past two weeks suggests that such growth may be feasible for a meme coin. In addition, after the 2020 presidential election, which preceded the bull run at that time, DOGE rose from $0.00257 in November 2020 to its ATH of $0.7399 in May 2021, which means an increase of 28,456% in seven months.

If the meme coin repeats at least a tenth of the 2020/2021 rally, its price may exceed the target price of $3. However, Dogecoin will find it difficult to grow by that amount in this bull run due to its market size. For reference, a price of $3 would put DOGE at a market capitalization of $440 billion.

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The price of PNUT is growing faster than the demand for GOAT

The GOAT token, which once dominated the memcoin market, faced a serious challenge after the appearance of Peanut the Squirrel (PNUT)

The sudden rise of PNUT has shaken GOAT's position in the market and led to a decrease in demand for memcoin. However, investors remain optimistic about the potential recovery of the coin.

The squirrel defeats the goat

GOAT's social dominance has changed significantly since October, mainly due to the advent of PNUT. For most of October, memcoin attracted the attention of the market, causing strong investor interest and a lot of excitement. However, the debut of PNUT at the end of the month caught the attention, displacing GOAT from the list of top tokens.

At the moment, PNUT is a more popular asset among investors. This is confirmed by an increase in the number of mentions and active participation in social networks. This increase in attention has directly affected GOAT. His falling engagement rates indicate a loss of momentum. The competition between these memcoins is reformatting market conditions.

However, the GOAT financing rate remains positive, indicating the continued confidence of traders. This mechanism provides a balance between long and short positions in the market of perpetual futures contracts. Positive values indicate the dominance of long positions and mean that the contract price exceeds the spot price. This means that more traders are buying the coin with the expectation of selling at a higher price.

This optimism reflects the belief that GOAT still has a chance to regain dominance in the memcoin sector. However, the price decrease has caused uncertainty and anxiety among investors. Therefore, convincing market signals are needed for a noticeable price increase. Traders are carefully looking for signs of a possible reversal.

GOAT forecast: further decline is possible

The price has fallen by 25% in the last 24 hours, dropping from a record $1.36 to $1.01. The asset is approaching the critical mark of $1.00. If the bearish trend continues, a further decline is likely.

The critical support level is $0.72. If the price drops to this level, investors may suffer significant losses. The loss of this support also threatens to strengthen the bearish trend and make it difficult to quickly recover.

However, if the price bounces back from the $0.72 mark, memcoin may try to absorb previous highs. This would refute the bearish scenario and return GOAT to the lead among memcoins.

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The Bitcoin mining difficulty index has set a record high at 102.29 T

-- On November 18, the complexity of bitcoin mining increased by 0.64%.
-- The indicator set a historical maximum at 102.29 T.
-- The average hashrate is 921.03 EH/s.

On November 18, 2024, the Bitcoin mining difficulty index updated its historical maximum at 102.29 T. Since the last date of the change, it has grown by 0.64%, according to CloverPool.

The current average hashrate on the bitcoin network is 921.03 EH/s.

The Block material explains that mining complexity is not measured in specific units. This is a relative indicator that demonstrates how much more difficult it is now to mine a new block compared to the simplest period in history. The system automatically adjusts the difficulty every 2016 blocks, which roughly corresponds to a two-week interval.

The higher the complexity of mining, the more resources — computing power and electricity — miners need to find the correct hash of a new block. An increase in this indicator usually indicates an increase in the activity of miners, while its decrease indicates a decline in such activity.

The increase in this indicator brings the date of halving of the first cryptocurrency, which last took place on April 20, 2024.

The next recount will take place approximately on December 2.

Earlier, we reported that the Greenidge Generation miner won a court case for the right to mine bitcoin in New York State.

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NASDAQ announced the listing of options on IBIT

NASDAQ will list options on the spot bitcoin ETF from BlackRock (ticker: IBIT) today. This event should be considered an extremely important step in the evolution of the bitcoin derivatives market. QCP Capital researchers stated that in traditional financial markets, the volume of derivatives trading often exceeds the market capitalization of the underlying asset by 10-20 times. It is expected that this trend may repeat here, which will give a new impetus to the global growth of the cryptocurrency market.

The launch of options on IBIT is likely to attract institutional investors who previously faced restrictions when working with cryptocurrencies on platforms like Deribit. These companies and individuals are mainly focused on strategies for generating income from long-term assets. This can lead to a further decrease in implied volatility, which usually indicates market stabilization.

A similar situation has already been observed before, when large institutions used MicroStrategy shares as an indirect tool to gain exposure to bitcoin. According to reports for the 3rd quarter, the number of MicroStrategy institutional investors increased from 667 to 738. The result is especially noticeable for Vanguard, which increased its investments by 1000%, adding almost 16 million shares. This growth indicates the growing interest of institutions in bitcoin-related markets.

In addition, Goldman Sachs has confirmed plans to spin off its digital asset platform into a separate business. This move highlights how cryptocurrencies are increasingly integrated into the traditional financial system. Banks and funds are starting to consider virtual currencies not as a risky experiment, but as a full-fledged element of their strategy.

Against the background of such news, market data indicate a strengthening of bitcoin's position. The December strike at 100,000 continues to hold the largest concentration of open interest. The price of bitcoin is confidently holding above 90,000, and a decrease in implied volatility indicates the possibility of further strengthening. Together, this creates the basis for a potential new round of growth.

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Justin Sun believes that Tron will rise in price to $20 by the end of the year

Justin Sun, the founder of the Tron blockchain, said that the price of TRX will reach $20 this year. This is how he reacted to the optimistic forecast of an Intuit Trading analyst, who informed market participants about the potential of the asset during this bull market.

According to the Intuit Trading cryptanalyst, "seven years of price compression during a bearish super cycle" may end in rapid growth for TRX.

Indeed, over the past seven years, the asset has been trading below the historical high of $0.30004. However, the gap is gradually narrowing, now it is only 31%. At the current price of $0.2048, TRX will have to grow 97 times or 9665% to reach the projected value of $20. However, the expert considers such rapid growth to be only the beginning.

The expert predicts that in the context of the continued fall of the dollar and increasing inflation, the asset rate will continue to rise in the next few decades. According to Intuit Trading, the main question is not whether TRX will reach the $200 or $2000 mark, but when it will happen, and this moment may come sooner than many expect.

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The media learned about Trump's plans to meet with the head of Coinbase

Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, intends to meet with Donald Trump to discuss candidates for the new administration of the President of the United States. The Wall Street Journal writes about this

Earlier, Armstrong stated that Coinbase is ready to cooperate with both the Kamala Harris administration and the Trump administration.

What is known

According to the WSJ, Armstrong's meeting with Trump will be held in private. The agenda includes discussion of key appointments in government departments. Against the background of the news release, the shares of the crypto exchange rose by more than 6%.

It is unknown whether the businessman or other employees of the crypto exchange are being considered for specific positions in the Trump administration.

After the November 6 election, Trump presented a number of candidates for his administration, and also threatened to bypass Senate confirmation to speed up appointments. It is unclear who he intends to nominate instead of the current head of the Securities and Exchange Commission (SEC), Gary Gensler, whom Trump promised to fire "on the first day." Presumably, Commissioner Dan Gallagher, who is loyal to the crypt, can take the post.

Read also: What Donald Trump Promised the Crypto Community — 8 Initiatives

In the interests of Armstrong

At the Bitcoin 2024 conference in July, Trump announced plans to create a "Presidential Council on Bitcoin and Cryptocurrencies" to develop transparent regulation of the industry within the first 100 days after taking office. The initiative echoes the work of Coinbase. It is not the first year that the company has been seeking clarification of the rules governing the digital asset market.

Armstrong also supported Trump's initiative to create a "Department of Government Efficiency" (D.O.G.E.), under the leadership of Elon Musk and Vivek Ramaswamy.

Recall that Coinbase is working closely with the authorities. In particular, since 2020, the crypto exchange has been supplying regulators with analytical software that helps track the activity of participants in the crypto community. A year after the start of cooperation with the authorities, Coinbase became the first cryptocurrency company in the United States to gain public status.

The crypto exchange team benefits from being friends with the Trump administration. The initiatives of the politician in many ways echo the interests of the company. Therefore, the meeting of Armstrong, who has been building trusting relations with the authorities for several years, with Trump, who needs the support of experienced cryptans, is a logical step.

The reaction of the crypto community

Representatives of the crypto industry are confident that Armstrong's meeting with Trump can launch a new wave of growth in the digital asset market. Some members of the crypto community suggest that a businessman needs a politician to implement plans to form a bitcoin reserve in the United States. Earlier, the editorial board of BeInCrypto wrote that there were messages on the network that indicate the beginning of work on the initiative.

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Binance launches Super Profitable BFUSD Token

Information has appeared on the network about the plans of the largest crypto exchange Binance to launch a new BFUSD coin with suspiciously high profitability. According to the team of the trading platform, members of the crypto community mistakenly began to spread information that the token is a stablecoin. In fact, BFUSD is a profitable margin asset for futures trading

Crypto investors, in turn, saw in the coin the shadow of the collapsed LUNA cryptocurrency, whose holders could also count on high profitability at the moment. We tell you what is known about BFUSD and why the participants of the crypto community were skeptical about the project.

What is known about BFUSD

Reports that Binance is launching BFUSD appeared on the exchange's resources. The participants of the crypto community spread the information over the network in a matter of minutes.

According to reports, the yield of BFUSD will be adjusted. Against the background of the first news about the coin, the metric was at the level of 19.55%. A day later, the yield exceeded 100% per annum.

Presumably, users can use BFUSD as collateral for their transactions using leverage.

Due to the fact that initially there was no clear description of the coin on the platform's resources, the news took on incorrect outlines. Many have written that BFUSD is a stablecoin.

Due to the hype, the Binance team had to clarify information about the initiative. According to them, BFUSD is not a stablecoin. The coin is a profitable margin asset for futures trading. Binance representatives also promised to provide more information about BFUSD and the tools for calculating its profitability over time.

There is a theory that the launch of BFUSD may be part of Binance's investment in Ethena Labs. The fintech company develops innovative solutions in the field of decentralized finance (DeFi). The company's main product is the "synthetic dollar" USDe, which is a token linked to the US dollar exchange rate. Instead of the traditional provision of reserves, the USDe uses an automatic delta hedging strategy (a risk management method in derivatives trading) to maintain the stability of the dollar peg. According to the proponents of the theory, Binance can use USDe to pay the declared yield to BFUSD holders.

The reaction of the crypto community

The new BFUSD token has attracted attention due to its high annual yield, which is compared with the results of the collapsed TerraLUNA. At the moment, the profitability of the coin through the Anchor Protocol exceeded 20%. According to the participants of the crypto community, such high rates of potential profit look suspicious.

Investors have noticed that the Binance team is in no hurry to explain how the coin can give such a return. The opacity of the asset, according to netizens, may turn into a repeat of the story of the collapse of Terra for investors.

The news quickly became overgrown with memes. Their essence is that Binance's proposal looks like the reincarnation of LUNA's ideas, which eventually led to the collapse of the crypto project and major losses.

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