Cryptocurrency

Interestingly, despite disappointing investors and traders because it has yet to climb past the anticipated $100,000, Bitcoin’s performance remains striking. CoinGlass data reveal that Bitcoin recorded staggering growth this November, or about a 37% rise.This is the fourth-best month for Bitcoin in terms of price performance since October 2021. This month’s performance is surpassed only by 44% growth in February 2024 and 40% in January 2023 and October 2021. This month’s performance is linked to various macroeconomic factors, including rate cuts.Meanwhile, the expiration of Bitcoin’s options contracts worth $9.4 billion has also nudged the coin up a bit in the market. However, Bitcoin market volume has dropped considerably by 34.48% to $47.10 billion. This metric signals investors have remained cautious about the coin’s ability to cross $100,000 this cycle.For instance, there is a growing rekindling of interest from institutional players. Although institutional enthusiasm for Bitcoin appears to have suffered a decline, renewed interest could act as a catalyst to fuel price action. Spot Bitcoin ETF products are now accessible to investors in the U.S. and other regions.Regardless of the current price level, the prediction for Bitcoin in 2025 suggests that significant growth is possible. Some analysts predict the growth could flow from the remaining days of 2024 and hit a high of $200,000.This article was originally published on U.Today More

These three outperforming crude oil is down to the rapidly advancing tech sphere, rising geopolitical tension and commodity deflation, the Bloomberg expert said. While oil is going down $50, gold is trading at $3,000 and Bitcoin is changing hands at $97,050 at the moment.The screenshot shared by McGlone shows that in the last year, the world’s leading cryptocurrency, Bitcoin, has added 158.9% (125.5% year-to-date), while gold has gained 33.8% over the past year and 27.4% year-to-date.In another tweet, he stated that gold has been rising and commodities falling since 2022, when Russia and China announced their collaboration. The expert likely believes that gold may continue to increase and commodities may keep going down in 2025.This article was originally published on U.Today More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is marking new milestones of Web3 growth in the TON ecosystem. Bybit Web3’s organic integrations of The Open Network (TON) have supercharged the expansion of its Web3 universe, spearheaded by the success of SpaceS, the first fly-to-earn and meme-filled Telegram game led by Bybit Web3. Building on the momentum, Bybit Web3 will also be joining Season 7 of The Open League, contributing to the enrichment of the The Open Network for everyone. Unlocking Cult Status: The Rise of SpaceSSince its launch in late October, the eclectic SpaceS game has amassed over 2.5 million members in the community. Over 3.4 million monthly active users gravitated towards the Telegram game bot, catapulting the mini game to top spots in the Telegram Game Bot rankings in its first month. Continuing the momentum, SpaceS has announced the launch of a new season, Alliance Edition, unlocking seamless access between trending Telegram games for players. Alliance Edition allows users to fly into SpaceS directly from popular projects like Major, Catizen, Yescoin, RIverland, Boinkers, Cat Gold Miner, and more, reaping benefits from the entire Telegram gaming ecosystem. By playing these games, users can unlock exclusive project rewards—all while exploring a growing network of Telegram’s most engaging games.More opportunities to earn in the Alliance Edition: Bybit Web3 is also opening another front of community engagements and user experience by joining Season 7 of The Open League. A brainchild of the TON Foundation, The Open League is a powerful gaming platform on the TON blockchain that supports and incentivizes creators and participants in the TON ecosystem.By joining The Open League, Bybit Web3 aspires to redefine engagements and growth in Web3 with TON. The instant popularity of SpaceS and The Open League’s well-established status as a rewarding platform position the partners to shape the future of interactions in Web3 by championing long-term value for users and Web3 projects alike. Leveraging TON’s game-changing potential in Web3, Bybit Web3’s first venture into the TON gaming space commenced a new chapter of rewarding participation, driving adoption, and strengthening connections between the 1 billion users across Bybit, TON and Telegram’s ecosystems. About Bybit Web3Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting. Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.Join the revolution now and open the door to your Web3 future with Bybit.For more details about Bybit Web3, please visit Bybit Web3.ContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

In this X post, he once again hinted that he might be released from prison for good soon, saying that he has “a lot to be thankful for this year.”Earlier this week, on Nov. 26, Ulbricht tweeted that he is beginning to “get used to the reality” that he might be released from prison permanently soon, hinting at the pledge made by the new U.S. political leader during the election campaign that he would end Ross Ulbricht’s prison sentence once he takes the office. He stated that 11 years is enough for the crime the Silk Road founder committed.The Silk Road was founded in 2011 as a marketplace where users would be able to trade without the government’s supervision and control, with Bitcoin used as the currency for payments. However, it was drug and arms dealers who became the most active sellers on that platform. In 2012, the FBI shut down the Silk Road, sending Ross Ulbricht to prison for two lifetime sentences. He has spent more than 4,000 days behind bars already, according to a tweet he published in the middle of September.Now, he believes that after 11 years in prison cells, his sentence might be cancelled thanks to the change in U.S. political leadership. The crypto community has been supporting Ulbricht all these years, signing a petition requesting that he should be set free and conducting various public campaigns, attracting attention to his case.This article was originally published on U.Today More

Hydration has announced the launch of its decentralized borrowing platform, the Hydration Money Market. The new platform allows users to supply cryptocurrency as collateral, earn interest on their deposits, and borrow various digital assets.Built on the Polkadot blockchain, the platform emphasizes efficiency and innovation in the decentralized finance (DeFi) ecosystem. Hydration introduces on-chain prioritized liquidations, a mechanism designed to minimize losses and prevent exploitation during liquidation events.The platform operates as a fork of the AAVE v3 protocol, offering over-collateralized borrowing capabilities and enabling users to explore advanced strategies, such as leveraging positions and arbitraging interest rates. These features cater to users seeking diverse, risk-adjusted financial strategies within the DeFi space.Hydration’s launch is a step forward in its mission to democratize access to financial tools while ensuring sustainable protocol development. The project’s focus on transparency and user-centric design aligns with the broader goals of fostering a robust, decentralized financial ecosystem.For more information, users can visit hydration.net, app.hydration.net or follow Hydration on X (formerly Twitter).About HydrationHydration is a blockchain-based platform dedicated to enhancing financial accessibility and innovation through decentralized tools. By leveraging Polkadot’s scalability and interoperability, Hydration aims to empower individuals and institutions with secure, transparent, and efficient solutions for borrowing, lending, and managing digital assets.ContactValery Hydratorvalery@intergalactic.limitedThis article was originally published on Chainwire More

Using their Cross Asset Positioning Monitor, JPMorgan highlights potential vulnerabilities as markets adjust to shifting liquidity and demand dynamics.Bitcoin and the U.S. dollar are flagged for positioning risks.The bank said it sees “elevated equity positions, modestly long duration positions, close to neutral credit positions, elevated long dollar positions, underweight positioning in commodities ex gold, elevated positions in bitcoin but more modest longs in gold.””Thus from a positioning point of view the most vulnerable asset classes into 2025 are equities, the dollar and bitcoin and the least vulnerable are non-gold commodities,” said the bank.On bonds, the global supply-demand balance is expected to deteriorate in 2025.The bank projects a $0.9 trillion decline in global bond demand compared to 2024, alongside a relatively modest $100 billion reduction in net supply.They explain that this imbalance could result in upward pressure on yields, with the Global Aggregate Bond Index yield potentially rising by 40 basis points.Central banks will play a crucial role in these dynamics. JPMorgan notes that while the Federal Reserve is expected to end balance sheet contraction in early 2024, it will continue shifting from mortgage-backed securities (MBS) to Treasury bills.They add that the European Central Bank (ECB) is set to fully stop reinvestments in its PEPP portfolio, and the Bank of Japan (BoJ) is likely to accelerate net bond sales in 2025.JPMorgan notes that together, these actions contribute to modest improvements in central bank bond demand, but not enough to offset the broader decline in global demand. More

The world’s largest crypto was hit with some profit-taking in the past week after failing to reach the coveted $100,000 level. But losses in Bitcoin were also limited by optimism over Trump’s picks for key regulatory roles, which portend less scrutiny against the industry. Bitcoin rose 0.9% to $96,338.6 by 00:55 ET (05:55 GMT), remaining close to a record high of over $99,000 hit earlier in November. The crypto was also sitting on strong gains through November, having rallied nearly 40% since Trump’s victory. Bitcoin was set for its best month since February following Trump’s victory. The President-elect had vowed to make America the crypto capital of the world, and had also floated the prospect of a Bitcoin strategic reserve. Expectations of friendly regulation were furthered by Trump’s picks for Treasury Secretary and Secretary of Commerce, given that both Scott Bessent and Howard Lutnick have voiced support for digital markets. Trump was seen considering Paul Atkins to lead the Securities and Exchange Commission. Atkins is a former SEC Commissioner who has openly presented a pro-crypto stance. He will also potentially replace current Chair Gary Gensler, who said he will resign in January as Trump takes office. Gensler’s resignation also provided support to crypto markets, given that he led a sweeping crackdown against the industry over the past two years. Additionally, reports said Trump could potentially shift regulatory oversight of crypto to the Commodity Futures Trading Commission from the SEC. The CFTC- which handles commodity trading and derivatives, is expected to hold a less strict watch over crypto than the SEC. Broader crypto prices were mostly positive on Friday, and were set for stellar gains in November on Trump’s election win.World no.2 token Ether fell 0.7% to $3,569.0, but was sitting on a nearly 42% gain this month. XRP was by far the best-performing major altcoin in November, up more than 200% on the prospect of leadership change at the SEC. The agency has a long-running lawsuit against XRP issuer Ripple. Cardano was also trading up over 200% in November, while Solana and Polygon were up 40% and 77%, respectively. Among meme tokens, Dogecoin was trading up 150% for November. More

This heartfelt acknowledgment is a monument to Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and comes at a time when the cryptocurrency is gaining widespread acceptance, with its price approaching $100,000. Bitcoin reached a record high of $99,849 last Friday.Satoshi Nakamoto, the pseudonymous creator of Bitcoin, introduced the world to a decentralized digital currency that operates without the need for intermediaries. Since the release of the Bitcoin whitepaper in October 2008, Satoshi’s vision has inspired countless innovations in blockchain technology and decentralized finance.Saylor’s message resonated with Bitcoin enthusiasts, with some in the crypto community echoing the same sentiment and penning words of appreciation for Satoshi.This week, MicroStrategy announced a record purchase of $5.4 billion in Bitcoin, the crypto hedge fund proxy’s third major acquisition this month. According to a U.S. Securities and Exchange Commission filing, the firm purchased 55,500 coins between Nov. 18 and Nov. 24, valued at about $97,862 per Bitcoin.As of Nov. 24, 2024, MicroStrategy owned 386,700 BTC for about $21.9 billion, or nearly $56,761 per Bitcoin, making it the largest publicly traded corporate holder of the digital asset.Bitcoin climbed again beyond $97,000 as the Thanksgiving holiday approached before falling slightly; at the time of writing, BTC was up 1.23% in the last 24 hours to $95,687.This article was originally published on U.Today More