Cryptocurrency

In the recent X post, Schiff challenged Saylor’s view of Bitcoin as “digital energy.”Schiff questioned the practicality of this description, asking how Bitcoin could ever generate power. He argued that the digital asset is more speculative than a resource capable of producing tangible energy or utility.Schiff strengthened his argument by contrasting Bitcoin with crude oil. He emphasized that crude oil is irreplaceable in sustaining industries and human survival. Also, he warned that its absence could lead to mass starvation.Schiff then posed a rhetorical question: “If Bitcoin disappeared, what critical function would it leave behind?”Industry figures like “Rich Dad Poor Dad” author Robert Kiyosaki share Saylor’s view, praising Bitcoin’s value and urging traders to consider investing. Kiyosaki consistently highlights Bitcoin’s potential as a hedge against economic instability and an essential asset for financial growth.However, Schiff views these narratives as misleading attempts to elevate Bitcoin’s status without addressing its practical limitations. Schiff’s critique underscores a broader ideological divide within the financial world. While Bitcoin advocates like Saylor highlight its potential to transform finance, critics like Schiff doubt its practical use and sustainability. These divided views reflect ongoing debates about Bitcoin’s true value and purpose.This article was originally published on U.Today More

The first scenario suggests that Bitcoin could continue its price discovery phase as it has in previous cycles. In this scenario, the price of BTC would continue to rise, with new highs being set in the coming months. This could last anywhere from 3 to 12 months, which is how long past bullish phases have typically lasted. The second scenario is more cautious, as Ju warns that the current rally could be the peak and a big drop could follow, similar to the crash that occurred in November 2021. Despite the possibility of the second scenario, the analyst warns that trying to short Bitcoin now could be a risky move. In arguing against selling Bitcoin, Ki Young Ju recalls the late 2020 price discovery phase, when many traders bet against Bitcoin by shorting it. This move backfired as the short squeeze fueled a bull run. Suggesting that history may be repeating itself with similar risks ahead, the analyst urged his followers not to sell BTC and to adopt a disciplined holding approach.This article was originally published on U.Today More

This article was originally published on U.Today More

The Keanu (KNU) token, a new Solana-based meme coin inspired by cultural icon Keanu Reeves, has officially hit the market via a fair launch on Pump.fun. The release comes amid a surge in meme coin market activity, with the Keanu team positioning the project as a community-driven initiative leveraging viral potential.The broader meme coin market has seen massive growth in recent months, with notable projects contributing to an industry market cap of $125 billion. The team aims to capitalize on this momentum with a token launch designed to appeal to a broad demographic, from crypto enthusiasts to pop culture fans.This launch perfectly aligns with what investor and commentator Murad Mahmudov has described as an unprecedented “meme coin supercycle,” creating fertile ground for viral, community-focused crypto projects.Keanu (KNU): A Cultural and Community-Driven TokenKeanu leverages the widespread popularity and meme culture heritage of actor Keanu Reeves, a figure celebrated across generational and cultural divides. The token seeks to distinguish itself through its ethos, emphasizing positivity and inclusivity—triggering speculation that this could be the making of a new crypto cult.Keanu’s branding incorporates community-oriented principles such as “Be Excellent to Each Other,” signaling a departure from the often intense and competitive nature of the crypto landscape.The team behind Keanu plans to cultivate an engaged community by focusing on a balance between entertainment and functionality. This strategy positions the token as an accessible entry point for new users exploring the world of cryptocurrencies while fostering a strong connection with existing crypto participants.Bridging Pop Culture and CryptocurrencyMeme coins have historically gained traction for their simplicity and relatability, making them an accessible entry point for newbies. While Dogecoin has been the most prominent example of a meme coin achieving mainstream recognition, the Keanu project seeks to expand on this foundation, offering a culturally resonant alternative designed to engage a diverse audience.Unlike many projects that rely solely on novelty or fleeting trends, Keanu’s developers emphasize its potential for sustained community growth. By targeting both experienced cryptocurrency participants and mainstream audiences, the token aspires to build a broader cultural and economic bridge between these spaces.Exploring Keanu’s Adoption PotentialKeanu launches with a total supply of 1 billion KNU tokens, structured to encourage widespread participation. The project’s debut on Pump.fun represents the first phase of its roadmap, with plans for additional listings to follow.By tapping into Keanu Reeves’ universal popularity and the current momentum of the meme coin market, the token seeks to carve out its place in the evolving crypto landscape.For updates on the project’s progress, Keanu encourages the community to follow its official channels on X (formerly Twitter) and Telegram.About KeanuKeanu (KNU) is a meme token built on the Solana blockchain. It prioritizes community engagement and inclusivity, aiming to foster a positive cultural movement within the cryptocurrency space. The token launched via a fair listing on Pump.fun, with plans for expanded availability on decentralized exchanges and additional trading platforms.ContactKeanupr@keanu.xyzThis article was originally published on Chainwire More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of its BTC Trading Competition, celebrating Bitcoin’s ascent to new all-time highs (ATHs). The competition, running from November 19, 2024, at 10 AM UTC, to December 10, 2024, at 10 AM UTC, invites traders of all skill levels to compete for a grand prize pool of 50,000 USDT across two exciting challenges.To give participants a competitive edge, Bybit offers advanced tools like its Trading Bots, which allow traders to automate strategies and maximize trading volume effortlessly. For those who prefer to follow proven approaches, the Copy Trading feature lets users replicate the strategies of top traders. These tools ensure every participant, whether new to Perpetual contracts or seasoned in crypto trading, has the opportunity to excel and make the most of this event.Event DetailsEvent 1: Beginner’s Trading QuestThe Bitcoin market is heating up, and this is users’ chance to capitalize on the momentum. With tools like trading bots and copy trading, Bybit ensures participants can maximize their potential and enjoy a seamless trading experience.Users can Register Now and compete for their share of the 50,000 USDT prize pool.Note: This competition is unavailable to users in Spain, Brazil, New Zealand, the Netherlands, and Hong Kong.#Bybit / #TheCryptoArk About 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 MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

With the latest halving now about six months behind us, the market could remain in an upward trajectory for another 6 to 12 months if past patterns hold true, according to analysts at Piper Sandler.Analysts also discussed the potential impact of Bitcoin halving cycles on Robinhood Markets (NASDAQ:HOOD), suggesting that the crypto and stock exchange could experience increased retail engagement and transaction volumes. Analysts see the stock as a “good way to play this crypto bull market,” citing its “significant runway to scale its crypto operations alongside an already established cash equity & options brokerage business.”In the past week, Robinhood expanded its cryptocurrency offerings by relisting Solana (SOL), Cardano (ADA), and Ripple’s XRP token, alongside the introduction of the memecoin PEPE. These tokens, except for PEPE, had been previously delisted due to SEC lawsuits but have now returned to Robinhood’s trading platform. This move to enhance its crypto offerings is part of Robinhood’s strategy to capitalize on the current bull market in cryptocurrencies.In the last two Bitcoin halving cycles, crypto prices surged significantly and did not peak until well over a year post-halving. As of Friday, November 15, Bitcoin was only 210 days post-halving and had risen 43% above the previous cycle’s peak price. Analysts identify several factors that could support the continued demand and adoption of cryptocurrencies, including a potentially more favorable regulatory environment and speculation about the US establishing a Bitcoin reserve.For Robinhood, analysts project that the platform could see approximately a 40% sequential increase in its crypto volumes in the first half of 2025 compared to the second half of 2024. This forecast is based on the assumption that the current Bitcoin cycle will mirror previous ones. Analysts point out, though, that Robinhood was one of the only platforms that offered DOGE trading in the first and second quarter of 2021, which likely “drove much of the outsized volume growth in those quarters.”“So while we don’t expect HOOD to produce $233B of volumes in a single quarter anytime soon, we expect volumes to grow ~40% in 1H25 vs. 2H24,” analysts added. They expect nearly half of this growth to be driven by the newly added tokens and increased volume in existing ones. More

(Reuters) – Joe McCann was sitting in his Miami condo, eyes glued to screens flashing with bitcoin trades as the American election results rolled in. “When the first polls closed, we started to see massive U.S. buying and it just hasn’t stopped since,” said McCann, founder of crypto-focused hedge fund Asymmetric. “The sentiment in the crypto community is a form of elation at this point.”Indeed bitcoin has skyrocketed over 32% since Nov. 5 to an all time high of more than $91,000 dollars as traders bet President-elect Donald Trump’s promised support for digital assets would lead to a less restrictive regulatory regime and inject some life back into bitcoin after a listless few months. On Binance, the world’s biggest crypto exchange, the average bitcoin daily trading volume from Nov. 6 to Nov. 13 jumped to about $493 million, nearly double the year’s average of around $252 million, as per crypto data provider Kaiko. Volumes on Coinbase (NASDAQ:COIN) were triple the year’s average during the same period, averaging over $108 million per day. Meanwhile, U.S.-listed exchange-traded funds tracking the spot price of bitcoin, products favored by institutional investors, notched their biggest daily net inflows on record of $1.43 billion dollars on Nov. 7, according to CoinShares.Yet many market players cautioned that investors could get burned by profit-taking and market pullbacks in the coming weeks, with Coinglass’ bitcoin “fear and greed” index – a measure of market sentiment – firmly in “greed” territory.”Expect some confusion as even the most sophisticated and connected market participants try to parse if a Trump administration means a more balanced regulatory regime, a Wild West free-for-all, or if Trump will simply forget about crypto entirely,” said Matthew Graham, managing partner at Ryze Labs. CRYPTO MARKET TOPS $3 TRILLIONIt’s definitely getting choppy.Bitcoin’s annualized 30-day volatility ticked back up to over 58%, its highest since September and after slumping as slow as 25% in June, according to data from The Block. The market gains go beyond bitcoin; The total cryptocurrency market value has soared to an all-time high of $3.16 trillion, according CoinGecko. Open interest on derivatives exchanges is at a record high of over $102 billion, Coinglass data showed. Ethereum has jumped about 32% since the election, while the market value of decentralized finance-focused tokens touched a five-month high of $93 billion. Despite the initial excitement, details on what exactly will change under a new administration remain hazy.The main focus now is the appointment of Trump’s U.S. Treasury Secretary, with a few potential candidates including Howard Lutnick and Scott Bessent, seen as more crypto friendly. Ryan Lee, chief analyst at Bitget Research, warned traders should stay alert for sudden pullbacks: “The appointment could trigger short-term speculation.” More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has unlocked a fresh prize pool of 50,000 USDT in bbSOL on Bybit On-Chain Earn for a limited time only. From now to Nov. 28, users looking to get the most out of staking bbSOL have the opportunity to earn rewards with Bybit On-Chain Earn.Bybit users stand to share a rewards chest worth 50,000 USDT in ten days by simply staking bbSOL on On-Chain Earn. Eligible users only need to take two steps: staking bbSOL, and holding for the duration of the campaign. Successful participants will take home a share of the prize pool in SOL in accordance with the corresponding bbSOL holdings. Since its launch, bbSOL has been making waves in Web3 staking as the first exchange-backed liquid staking token on the Solana blockchain. The trailblazing SOL staking solution has shown demonstrably healthy returns, while bridging on-chain and off-chain rewards between Bybit’s exchange and Web3 offerings, recording over 120 million USDT in total value locked as of Nov. 2024.Find out more about SOL staking on Bybit On-Chain Earn. #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 MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More