Cryptocurrency

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with DMCC (Dubai Multi Commodities Centre) Crypto Centre, successfully concluded MENA’s flagship Web3 hackathon on Nov. 20 in Dubai. Fifteen project teams presented their groundbreaking ideas to a panel of Web3 experts and prominent figures from the crypto industry, captivating both a live audience and over 30,000 livestream viewers.The grand finale of Web3 Unleashed this year featured a full day of events and an afterparty, including a thought-provoking panel discussion on the future of Web3 technology and its applications. The event highlighted the transformative power of blockchain technology and its potential to revolutionize various industries.Now in its second year, Web3 Unleashed has solidified its reputation as the region’s premier Web3 hackathon. Focused on solving real-world problems through emerging technologies, Bybit and DMCC, alongside a diverse network of partners, identified five groundbreaking projects from all corners of the world: Web3 Unleashed #2 was made possible by the generous contributions from Official Sponsors DWF Labs, Meezan Ventures, Injective, 1inch, CVVC, Blockchain for Good Alliance and Hacken, as well as the support from Community and Media Partners Superteam UAE, Web3 TV, College DAO, Hackquest, BeWater, Bloc Soc IITD, KEY Difference and Cointelegraph. #Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

Bitcoin hit a series of record highs last week, rising as far as $99,617.4 in an extended rally after Donald Trump won the 2024 presidential elections in early-November.But the crypto failed to breach the coveted $100,000 level, falling sharply over the weekend amid some profit-taking and as investors sought more concrete cues on Trump’s plans for crypto.Bitcoin traded down 0.3% at $97,880.9 by 00:10 ET (05:10 GMT). The crypto had fallen as far as $96,000 over the weekend. Trump on Friday nominated prominent investor Scott Bessent as his pick for Treasury Secretary.Bessent, who founded the hedge fund Key Square Group, had expressed enthusiasm over Trump’s backing of crypto during an interview with Fox News in July. Bessent- who has donated to Democrats in the past- is also viewed as a more moderate choice within Trump’s administration, and is expected to help push for tax reforms and a less strict crackdown on trade. Cantor Fitzgerald in talks for Bitcoin lending program with Tether- Bloomberg Trump’s pick for Commerce Secretary, Howard Lutnick, has also expressed support for the crypto industry, with his firm Canton Fitzgerald having helped stablecoin giant Tether manage its holdings of U.S. Treasuries. Lutnick’s Cantor Fitzgerald is in talks to deepen its ties with Tether and is preparing a $2 billion project to lend dollars against Bitcoin to clients, Bloomberg reported on Sunday. The firm is discussing receiving support from Tether to fund the project, which could potentially be worth over tens of billions of dollars.Reuters reported that Tether was seeking to use part of its profits generated in the past years in different avenues. Broader crypto prices also retreated on Monday, extending losses from the weekend. World no.2 crypto Ether fell 0.9% to $3,385.74.XRP fell 0.6% to $1.4547, cooling after logging strong gains last week. XRP had shot up after Securities and Exchange Commission Chair Gary Gensler said he will resign in January as Trump takes the presidency. Gensler’s resignation brewed optimism that the SEC will adopt a less strict stance on crypto regulation, especially under a Trump presidency. XRP was the chief beneficiary of this trade, given that the SEC has a long-running lawsuit against Ripple, who issues the altcoin. SOL, ADA, and MATIC fell between 0.5% and 3.3%. Among meme tokens, Dogecoin fell 2.4%.  More

However, some trading volume trends and chart patterns suggest that a possible reversal might also be imminent. Outstanding trading volumes have bolstered DOGE’s recent rally, indicating that both institutional and retail investors are very interested in the company. While the coin’s rise above the $0.40 mark indicates bullish momentum, the chart’s emerging pattern raises questions about a possible reversal. An important resistance level to keep an eye on is the $0.45 zone as the long upper wicks on recent daily candles indicate selling pressure at higher levels.The $0.35 support level may serve as a buffer on the downside if the reversal picks up steam. Bulls must defend this level because it corresponds with recent periods of consolidation. The increase in trading volume is one of the main features of Dogecoin’s current setup.A discernible drop in volume may be a sign of a reversal even though higher volume during price rallies usually indicates strong buyer interest. These patterns frequently indicate waning momentum particularly if the price finds it difficult to overcome resistance levels. Whale activity, which has been a major factor in Dogecoin’s previous rallies, is still very important.Hedging against downside risks or preparing for another push higher are two possible reasons why large transactions indicate that major holders are actively positioning themselves.Bears appear to be exploiting the psychological significance of the level as evidenced by the current consolidation below $100,000. It is clear from the recent candles with long upper wicks that sellers have been actively protecting this zone. This means that whenever Bitcoin gets closer to the mark there are more sell orders. The volume is one of the main markers of market hesitancy.Even though trading activity is still high, it is beginning to level off. A significant increase in volume fueled by confidence from institutional and retail participants alike is usually necessary for a breakout above $10,0000. In the absence of this, the price could revert to lower support levels. The $90,000 and $85,000 critical support levels are highlighted on the chart. A retracement to these levels might give bulls another opportunity to regroup if Bitcoin is unable to break above $100,000 with conviction.The price may rise to $110,000 and higher if Bitcoin breaks $100,000 on the other hand, as this could lead to a surge in short covering and new buying interest. The role of the wider market cannot be disregarded. The behavior of Bitcoin frequently resembles that of conventional financial markets especially during pivotal price fluctuations. Global markets are scheduled to open on Monday and the enhanced liquidity may be crucial in determining whether Bitcoin can break through the $100,000 barrier.The price might move toward the $280–$300 range if there is a bounce here, which would give it the momentum it needs for another leg up. The asset may experience difficulties if it breaks below this trendline, which would cause a retracement to important support levels of $216 or even $184. One of the most important things to keep an eye on is the volume. The probability of a breakdown would increase if the volume decreased during this test, indicating waning buyer interest.Since the RSI (Relative Strength Index) is still high, it appears that SOL is overbought. Since a corrective phase frequently follows this condition, testing this trendline is even more important. In the event that Solana is unable to maintain the trendline, $216 will be the next important support. This level may draw buyers hoping to profit from the retracement because it correlates with earlier consolidation zones. But a deeper drop might result from breaking below $216, which might push the price down to $184 or less.This article was originally published on U.Today More

Cramer is no stranger to making statements that often defy prevailing trends and shatter expectations. His influence has grown so much that it has spawned the “Inverse Cramer” phenomenon, where investors do the opposite of his advice. As often as not, he has taken to live television to share his thoughts as the host of CNBC’s Mad Money.Thus, Cramer reportedly said that Bitcoin is a winner right now and that you should own the cryptocurrency. After that, the price of BTC made a U-turn and found itself at $97,215, where it found a local bottom for now.In a short but eloquent reaction with a laughing face and 100% emojis, Musk revealed what he thinks about the latest occurrence of Jim Cramer’s curse.For now, Bitcoin’s next move remains uncertain, but the incident serves as a reminder of how outside voices and investor sentiment can shape the cryptocurrency’s price trajectory.This article was originally published on U.Today More

With futures traders placing bets on both upward and downward price movements, this degree of open interest usually indicates increased speculative activity. This raises the possibility of increased volatility even though it might also be an indication of confidence in Bitcoin’s momentum.According to the price chart that is provided, Bitcoin has broken out of its previous downward channel and is still moving strongly upward. There is noticeable resistance at the $100,000 psychological level, and the asset is presently trading close to $98,000. A break above this milestone might open the door for a short-term test of $105,000 or even $110,000 if Bitcoin can maintain its bullish trend.The surge of open interest though has two drawbacks. Positively higher open interest indicates more trading volume and liquidity, both of which are essential for maintaining price movements. On the other hand, excessive leveraged position length may result in abrupt corrections brought on by cascading liquidations. This was observed in prior rallies when a derivatives market that was overheating was followed by sudden price drops.The $85,000 and $72,000 support levels are worth keeping an eye on because they correspond with moving averages and prior consolidation zones.This article was originally published on U.Today More

Lutnick’s financial services firm Cantor Fitzgerald is discussing receiving support from Tether to help fund the project, that could potentially reach tens of billions of dollars, the report said, citing people familiar with the matter.Tether and Cantor did not immediately respond to a Reuters request for comment outside business hours.Tether uses Cantor to hold billions of dollars worth of Treasuries that support the value of its stablecoin in a relationship that helps Lutnick’s firm earn tens of millions of dollars annually, Bloomberg reported.Earlier this week, Trump said he would nominate Wall Street CEO Howard Lutnick to lead his trade and tariff strategy as head of the Commerce Department. He would also have “additional direct responsibility” for the U.S. Trade Representative’s office.Lutnick has been known to promote the adoption of cryptocurrency. The Commerce Department oversees a sprawling array of functions with nearly 47,000 employees, from the U.S. Census Bureau to weather forecasting, ocean navigation and investment promotion. More

On November 25, 2024, RWA Inc is set to launch its utility token $RWA on KuCoin, Gate.io, and MEXC, bringing years of hard work to fruition. Since its founding, RWA Inc has aimed to redefine how investors and businesses interact with real-world assets, by creating a trusted platform that bridges the gap between traditional markets and the Web3 space. $RWA Token: Powering the EcosystemThe $RWA token serves as the backbone of RWA Inc’s multi-asset platform, playing an integral role in the functions of its products and services. It supports staking mechanisms, reduces transaction fees, and powers user engagement across the ecosystem, including the Launchpad, Exchange, Community Hub, and the forthcoming Marketplace.As part of RWA Inc’s launch it is actively raising $800,000 USD through a series of Initial DEX Offerings (IDOs). These IDOs are hosted on prominent launchpads Decubate, Eesee, and Ape Terminal, chosen for their reputations and ability to reach diverse investor audiences.This multi-platform raise is designed to maximize brand exposure and offer investors the flexibility to participate using their preferred platforms. This approach effectively expands RWA Inc’s market reach, laying the foundation for a successful fundraising campaign and in turn, the next phase of the project development.Exchange ListingsUpon the conclusion of the IDOs, the $RWA token is set to go live on three CEXs. This listing marks a pivotal moment for RWA Inc, with trading set to begin on November 25, 2024, at 10:00 AM UTC. Investors will be able to trade the token on KuCoin, Gate.io, and MEXC, three exchanges renowned for their global reach, reliable trading infrastructure, and support for innovative projects.Go-to-Market StrategyRWA Inc’s go-to-market strategy leverages its Launchpad for onboarding innovative startups and driving adoption of real-world asset tokenization. They are focused on a specific profile of token issuers, starting with Web2 startups/scaleups from seed to B-series stage, who are looking for disruptive ways to raise capital for their growth companies. With a carefully curated pipeline of projects ready for launch. RWA Inc will likely start onboarding its first clients shortly after launch.The companies’ revenue streams are generated through their tokenization service, launchpad IDOs, listing fees, staking mechanisms, and transaction fees paid in $RWA, creating a diversified and sustainable model for platform growth. To further strengthen the ecosystem, 50% of the platform’s profit has been committed to a buy-back and burn mechanism, fortifying long-term value for stakeholders.The RWA Inc project was carefully designed for long-term value generation and aims to lead the tokenized RWA market by example. This strategic approach has garnered the company traction in what is the fastest-growing market in the Web3 space.About RWA Inc:RWA Inc offers end-to-end real-world asset tokenization through a cutting-edge multi-asset platform that includes tokenization as-a service, a launchpad, and a marketplace. With a short-term focus on startup utility tokens for our go-to-market strategy, our primary emphasis is on strategically expanding into startup equity tokens, real estate, collectibles, and other asset classes via registered security tokens. As an innovator in the RWA niche, we help tech startups and established companies successfully launch utility and security compliant tokens and thrive in the Web3 market. Our approach addresses the need for extensive tokenization support for Web2 startups, fostering their dynamic growth potential. Our versatile solution aims to unlock opportunities across diverse asset classes, enhance liquidity, broaden market reach, support business development, and unlock asset value, effectively meeting market demands.Learn more about RWA Inc – White Paper: https://www.rwa.inc/whitepaperContact – https://www.rwa.inc/contactLinks – X | Telegram | TG Announcements | LinkedIn | Medium | Website ContactMike Stormmike@rwa.incThis article was originally published on Chainwire More

Kiyosaki issued that tweet as the world’s leading cryptocurrency Bitcoin has reached a new historic peak, stepping closer to the $100,000 price mark.The “Rich Dad Poor Dad” author stated that by continuing to buy Bitcoin, Saylor makes himself, his company and investors like Kiyosaki wealthier. Sharing his personal opinion of the MicroStrategy founder and executive chairman Saylor, Kiyosaki says he believes him to be a genius. He added that he is following “Saylor’s tactical Bitcoin investment plan” but on a much smaller scale in U.S. dollar terms. This helps him to make his company’s employees richer and their jobs more secure “in these treacherous financial times.”The financial guru tweeted that he continues to invest in Bitcoin, gold and silver since he believes all three to be key safe-haven assets. According to Kiyosaki, there is a real problem currently: “Fake dollars printed by a corrupt Central Bank…known as ‘The Fed’ and a Treasury Department.” In order to change the world, he believes, it is necessary to first change the monetary system.He concluded the tweet by recommending his multi-million army of followers to “save gold, silver, and Bitcoin.”However, previously, the expert tweeted that he would stop buying BTC once it steps over $100,000: “Not a time to get greedy.”This article was originally published on U.Today More