Cryptocurrency

Bitcoin rose 0.5% to $67,328.4 by 01:05 ET (05:05 GMT), after briefly breaching $68,000 earlier this week. The token had broken reliably out of a tight $50,000 to $65,000 trading range seen through most of the year. Broader cryptocurrency prices also rose on speculation over an improved regulatory outlook in the U.S., after Vice President Kamala Harris pledged a regulatory framework for the industry. Bitcoin in particular was supported by defunct crypto exchange Mt Gox postponing its timeline for returning stolen tokens to creditors. Recent gains in Bitcoin came amid increasing speculation that Republican candidate Donald Trump will clinch a second term.This was especially seen in online betting platforms such as Polymarket, which showed Trump’s odds at 58.4% over Harris’ 41.3%. Recent media polls showed Harris maintaining a slight lead, although with about three weeks left to the ballot, it is expected to be a tight race. Trump has maintained a largely pro-crypto stance, with his campaign also accepting donations in crypto. He had vowed at a conference earlier this year that the future of Bitcoin would be built in America. Harris on the other hand only recently mentioned crypto, pledging to create a regulatory framework for the industry. Still, further gains in Bitcoin were held back by a stronger dollar, as the greenback firmed on the Trump trade and as traders priced in a slower pace of interest rate cuts by the Federal Reserve. U.S. retail sales and industrial production data due later on Thursday is set to offer more cues. Rate cuts by other major central banks were also in focus, with the European Central Bank widely expected to cut rates later on Thursday.Broader crypto prices mostly tracked recent gains in Bitcoin. World no.2 crypto Ether rose 0.5% to $2,631.21. XRP rose 3.5%, while ADA and SOL retreated slightly. MATIC was flat. Among meme tokens, DOGE rose 5.4%.  More

Prices appear to be cooling off for bulls, and XRP might continue to face pressure in the days ahead if the bulls cannot pull off a strong breakout above $0.55. Any attempts at upward momentum are still met with resistance from the 200-day EMA, which has historically served as a powerful barrier. Because of this, traders and investors are keeping watch on lower support levels for any indications of a reversal that might put XRP in a risky position. In the event that XRP stays below $0.55, the bears may become more powerful and drive the price down. At about $0.50, there is a crucial support level to keep an eye on, where buyers might intervene to protect the asset. If this level holds, it might provide a little boost, but a break below it might result in larger losses. Additionally, there is evidence of weakness in the Relative Strength Index, which is currently in the mid-40s, suggesting that the tide is turning in favor of the bears. XRP bulls must now muster enough strength to retake control and push the price back above the $0.55 resistance. Until then, XRP is expected to be under constant pressure to decline, and any attempts at a recovery may not last long. The $0.55 resistance and $0.50 support are important short-term levels for traders and investors to watch.If traders can maintain this level or push higher in the upcoming days, the market could see more bullish moves now that it has been broken. Even though the downtrend break is a bullish indication, it is still too soon to declare bulls’ total victory. For sufficient conviction to establish, the price must remain stable above the $67,000 mark. Failure to hold this level might trigger a bearish pullback that tests lower support levels and might ensnare overconfident bulls. The ability of Bitcoin to maintain its upward momentum while consolidating gains will be its next big test. Bulls should keep an eye out for impending resistance close to $70,000 and crucial price support around $62,970. These levels might provide a more substantial and prolonged rally if buyers keep flooding the market. Though volatility may increase after such a significant technical break, caution is advised.Dogecoin is currently trading at about $0.12, a level it has not seen in a while because it had previously struggled to rise above the $0.11 and $0.12 benchmarks. As the supplied chart illustrates, there is additional evidence that buyers are entering the market to sustain the current rally, which may result in additional price growth. Dogecoin could set the stage for a sustained uptrend, with $0.13 and $0.15 as possible targets in the near future if it can sustain its current momentum and secure a strong daily close above the 200-day EMA. Since these levels served as resistance in DOGE’s previous recovery attempts, they are crucial. The price may retreat to support levels near $0.11 or even $0.10, where it may consolidate before attempting to break higher, but it is crucial to remember that a failure to hold above the 200-day EMA could lead to a rejection and a possible pullback. For the time being, everyone is watching to see if Dogecoin can continue to rise and stay above the 200-day EMA.This article was originally published on U.Today More

Saylor’s declaration comes at a time when the cryptocurrency market is experiencing volatility.The cryptocurrency market as a whole continued to rise on Wednesday, driven by Bitcoin (BTC), which increased its weekly gain to more than 12% and surpassed $68,000 for the first time since late July.Bitcoin rose to a nearly three-month high of $68,399 in today’s trading session, on track for three consecutive days of rises. At press time, the world’s largest crypto had slightly retreated to $67,607 but is still up 1.23% over the past 24 hours, higher than the intraday’s $66,743.Bitcoin’s “dominance,” or proportion of overall cryptocurrency market capitalization, has increased to 58.91% from 57.13% at the beginning of October.Bitcoin dominance peaked at more than 70% during the 2020-2021 bull market, before falling to as low as 40% by mid-2021. For nearly than a year, dominance remained around those levels before bottoming out with the collapse of cryptocurrency exchange FTX in late 2022. A steady climb then began, which has continued to the present moment.Historically, tightness on the Bitcoin supply side has been a forerunner to a period of increased volatility. However, the rate of fresh capital inflows has continued to decline since the nearly $74,000 all-time high was established in March 2024.The confidence of new investors in the market trend has also remained neutral, indicating that new buyers’ spending is not significantly different from the price of the original acquisition.This article was originally published on U.Today More

Additionally, the whales’ wallets appear to belong to institutional investors, custodians or companies, not retail traders. The wallets’ not linking to exchanges or mining operations clearly indicates this assumption.Despite clocking average HODLing of five months, the whales engaged in aggressive Bitcoin accumulation. A look at their balance sheet shows an astronomical surge of 813% year-to-date in 2024 alone. Some market watchers believe the German government’s offloading of Bitcoin may have been an opportunity for some of these massive accumulations.The Bitcoin held by these wallets is valued at approximately $132 billion at the current market price. Overall, the whales hold 9.3% of the total Bitcoin supply. The data indicates that these whales’ actions could impact the broader market.Given these whales’ control and possible impact on the market, investors will hope they make a manageable amount of sales. Notably, experts say that if whales decide to sell due to the price rebounding, they could crash the price of Bitcoin in what appears to be an Uptober rally.This article was originally published on U.Today More

This article was originally published on U.Today More

Thus, the first address was the sender of the largest amount of coins, namely 1,205.93 BTC, which is equivalent to $82.3 million. The second address is the direct recipient of these coins.Meanwhile, according to Arkham Intelligence, wallets with these addresses belong to none other than the biggest crypto exchange in the United States, Coinbase (NASDAQ:COIN). According to on-chain data, funds have been moved from Coinbase Prime addresses to the exchange’s hot wallets. Coinbase Prime, for those who do not know, is a branch that serves crypto funds of institutional clients and other large legal entities. When we try to trace where the $100 million in BTC came from, it turns out that two hours before this transfer, the deposit address was topped up with this amount from unknown wallet “3AjiY.”Adding to the intrigue, the company was charged by the SEC less than a week ago for conducting unregistered cryptocurrency-related activities. This begs the question: does this BTC belong to Cumberland itself, or to one of the company’s clients? And is the latest action an attempt to unload assets in the portfolio in the midst of an SEC investigation? The answers to these questions will be more important than ever for the future price of Bitcoin.This article was originally published on U.Today More

Neon EVM Pioneers the Network Extension Category on Solana, Ushering in a New Era of Unified Growth.Neon EVM, a leading Ethereum Virtual Machine (EVM) on Solana, formally adopts Solana Network Extension as a product category, perfectly capturing the essence of this new category. Network Extensions fill a critical gap in the Solana ecosystem. By offering a formal category for projects that natively extend Solana’s functionalities, Neon EVM provides clarity to developers, investors, and users alike. Traditionally, the positioning resulted from the inherent nature of Neon EVM and various other projects (MagicBlock, MetaPlex, etc.) since these are not typical Layer 1 or Layer 2 blockchains. Unlike traditional rollups, L2s, or sidechains, Neon EVM is a program deployed directly on Solana’s blockchain and relies upon its settlement, consensus, and data availability. Today, this makes Neon EVM part of an emerging product category known as Network Extensions—a native, composable expansion of Solana’s core capabilities, stirring up debate.The controversy sparking the Network Extensions categorySolana’s Network Extensions sparked controversy in September 2024, with co-founder Anatoly Yakovenko calling Ethereum’s L2 solutions “parasitic.” Yakovenko argued that L2s drain liquidity and fragment the ecosystem, a view echoed by Solana advocates who said L2s create a disjointed user experience. In contrast, Yakovenko claimed Solana’s Network Extensions are “natively composable” and enhance the core chain without pulling liquidity. Supporters emphasized that they are not disguised L2s but maintain a direct connection to Solana’s base layer, enabling seamless composability without Ethereum’s issues.Network Extensions differ fundamentally from L2s. Unlocking Seamless Ethereum Compatibility on Solana: Neon EVM as a Native Network ExtensionSolana sees its Network Extensions as specialised modules that broaden the L1 blockchain’s core functionalities. These extensions natively integrate with the Solana base layer, allowing new capabilities to be added while preserving the core performance and composability of the underlying L1 chain.Neon EVM epitomises this concept by enabling Ethereum compatibility for dApps while maintaining an execution environment with Solana. Neon isn’t a typical L2—it runs as an EVM (Ethereum Virtual Machine) on Solana’s blockchain, providing compatibility with Ethereum-based applications while remaining fully integrated with Solana’s L1. Unlike Optimistic or ZK Rollups, Neon doesn’t process transactions off-chain, but via Neon Proxy. Instead, it allows developers to deploy Ethereum dApps on Solana, leveraging Solana’s core capabilities— and no Rust coding is needed. Neon EVM seamlessly integrates with Solana at the protocol level and maps Ethereum transactions directly into Solana instructions, leveraging Solana’s advanced Sealevel transactional infrastructure. As a result, dApps running on Neon EVM benefit from Solana’s high-throughput environment and unparalleled scalability, enabling parallel processing and efficient execution.This technology positions Neon EVM as a key player in enhancing the accessibility and composability of blockchain applications to the Solana ecosystem. The Solana Foundation team has reiterated Neon EVM’s role as a Network Extension on social media platform X, as seen in the post below, while Anatoly Yakovenko, co-founder of Solana, has clearly stated that Neon EVM is definitely not an L2. Davide Menegaldo, CCO of Neon EVM and highlights the importance of network extensions, stating, “Network Extensions offer a powerful way to enhance and augment the capabilities of blockchain networks like Solana without the downsides typically associated with traditional scalability solutions.” Menegaldo further takes a deep dive and explains the key to determining Network Extensions:- Unified Liquidity: By operating within the same liquidity pool, Network Extensions prevent the liquidity fragmentation that often occurs with Layer 2s or sidechains, ensuring a more unified and efficient ecosystem.-Enhanced User Experience: The user gets to use native wallets and tools with ease, abstracting away all complexities associated with multi-chain and fragmented environments. – Remains native to the host chain, extending core functionality: Network Extensions are deeply integrated into the base layer and do not compete with or directly overlap it. They expand Solana’s capabilities by adding new features, new execution environments, storage or consensus capabilities, NFT functionalities without replacing the core functionalities of the underlying Solana environment.Projects like MagicBlock with Ephemeral rollups, and MarginFi, are creating tools, services, and infrastructure that don’t always fit into well-defined single categories of L1 and L2 terminologies.To fully comply with the definition of Network Extensions, Neon EVM will abstract away the complexities of the EVM layer, ensuring a seamless experience for users. EVM developers can fast-track their deployment on Solana without needing to chart the complexities of Rust. Solana users can interact with these dApps through their preferred wallets, such as Phantom, Backpack, or Solflare, paying gas fees in Solana-native currency. This composable and intuitive user experience ensures that while the technology behind these applications is Ethereum-compatible, the end-user will benefit from a unified user experience – without even noticing the underlying Ethereum-like codebase powering the dApps.Neon EVM drives innovation in Solana, expanding beyond traditional blockchain modelsNetwork Extensions in the Solana ecosystem are setting a new precedent for how blockchain infrastructure can evolve beyond the traditional L1 and L2 models. As Solana continues its growth trajectory with Firedancer and many upcoming updates, Neon EVM is poised to play a pivotal role in accelerating innovation, bringing unparalleled growth opportunities to developers and users alike. The future of blockchain is extensible, and Neon EVM is poised to lead the charge beyond the standard pathways.About Neon EVMNeon EVM is the first of its kind—a Network Extension on Solana—designed to seamlessly integrate Ethereum Virtual Machine (EVM) compatibility into Solana’s high-performance ecosystem. By operating natively within Solana’s base layer, Neon EVM provides Ethereum developers with a fast, high-throughput pathway to deploy their EVM dApps on Solana, without the need Rust coding, separate blockchain layers, or fragmented liquidity. It enhances the composability of dApps while preserving Solana’s core advantages. Neon EVM expands Solana’s capabilities, offering a unified experience where Ethereum-based projects can thrive with the speed and scalability Solana is known for.For more information about Neon EVM, users can visit neonevm.org and connect with the community on Twitter or Discord.ContactMarketing ManagerShailey SinghNeon EVMshailey@neonfoundation.ioThis article was originally published on Chainwire More

What is it? According to the popular Crypto Fear & Greed Index, what is dominating the market right now is greed. What’s more, it is at its highest level since July this year, which is almost a three-month record.According to the index, it is now possible to assess greed in the market with an index of 73. For comparison, three days ago, on Oct. 11, the index value was equal to 32 and almost signaled extreme fear. Three days later, this value is more than 128% higher and is already approaching levels that signal extreme greed. As usual, this move was accompanied by noisy news headlines, both bullish and bearish. It was also accompanied by regulatory twists and turns, as well as what was happening in the U.S. political arena ahead of the November elections. Either way, what seemed like an uncertain storm amid a series of red and green candles and general fear drove Bitcoin to its highest price for a major cryptocurrency since late July. That is where the switch to greed came in.What’s next? If we follow the logic of fear = growth, then perhaps the market and its participants should wait for a paradigm shift to greed = decline. However, with cryptocurrencies, everything would be easy and everyone would be millionaires.This article was originally published on U.Today More