Cryptocurrency

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has cemented its position as a major player in the derivatives market. In a remarkable surge, Bybit’s futures trading volume soared by 61% from September to October. This is one of the highest increases among top centralized exchanges, reaching an impressive 639 billion in monthly trading volume, according to a recent report from Wu Blockchain. This exponential growth is attributed to several key factors: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, users can visit Bybit Press For media inquiries, users can contact: media@bybit.comFor more information, users can visit: https://www.bybit.comFor updates, users can 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

SINGAPORE/LONDON (Reuters) -Bitcoin rallied to the verge of $90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly.The world’s biggest cryptocurrency has become one of the most eye-catching movers in the week since the election and touched $89,982 – a gain of around 30% since Nov. 5. It was last down 1.4% at $86,730.Bitcoin is surging along with Elon Musk’s automaker Tesla (NASDAQ:TSLA), which is up nearly 40% since voting results rolled in, as investors figure Trump’s friends and interests will do well while he is in office. “The crypto enthusiasts think they have a like-minded incoming president,” said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. “The thing about bitcoin at the end of the day is that there is no valuation anchor to it, it’s hard to get a grip on fair value. So when sentiment is very positive, it does get carried away a lot more than other asset classes.”Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.It is not clear how or when that could happen but the possibility drove a speculative surge in crypto mining and trading stocks. “I think it increases the chances that other nation states buy bitcoin in a bid to front run the U.S.,” said Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital.”Additionally I think it would be a crazy catalyst for the U.S. listed bitcoin miners … given possibilities of such entities getting nationalised.”Crypto miner Riot Platforms (NASDAQ:RIOT) jumped nearly 17% on Wall Street on Monday. Fellow miners MARA Holdings and CleanSpark (NASDAQ:CLSK) leapt nearly 30%. Software (ETR:SOWGn) company and investor in bitcoin MicroStrategy announced it had spent about $2 billion buying bitcoin between Oct. 31 and Nov. 10. Shares rose 26% on Monday.”Obviously (it’s) a clear Trump trade as he is so supportive of the industry, and this can only mean more demand both for crypto stocks as well as the currencies themselves,” Nick Twidale, chief market analyst at ATFX Global in Sydney, said of the bitcoin rally.”The fact that bitcoin was trading near all-time highs when the election result came through meant that it had clean sky above.”The euphoria extended across the crypto landscape with smaller tokens such as ether and dogecoin surging, although they dipped on Tuesday morning in Europe.Crypto investors see an end to increased scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler whom Trump has said he will replace. Trump also unveiled a new crypto business, World Liberty Financial, in September.”What we’re seeing isn’t just a price milestone; it’s a signal that the market is warming to the idea of bitcoin as a more stable, even politically favoured, asset,” said Justin D’Anethan, head of Asia-Pacific business development at digital assets market maker Keyrock. More

The world’s biggest cryptocurrency has been on a tear since last week after Trump won the 2024 presidential election. Bitcoin has also largely sustained its rally despite signs that risk appetite was cooling in other asset classes, especially stocks.Major altcoins also rose sharply on Tuesday, with meme token Dogecoin rallying nearly 42% and reaching its highest level since May 2021. Bitcoin traded up 9.4% at $88,313.1 by 00:36 ET (05:36 GMT), after hitting a record high of $89,436.1 earlier in the session. Bitcoin rose despite pressure from a stronger dollar on broader financial markets, as speculation over Trump’s policies boosted the greenback.Trump campaigned on promises of friendlier crypto regulation, vowing to make America the crypto capital of the world. Trump had also floated the idea of a national Bitcoin reserve. The prospect of friendlier U.S. regulation is expected to give Bitcoin and crypto more legitimacy as an investment destination, potentially attracting more institutional capital. Investors were seen piling into crypto exchange-traded funds over the past week, with Blackrock’s iShares Bitcoin Trust (NASDAQ:IBIT) seeing over $1 billion inflows in a single day after Trump’s victory. The IBIT also surpassed Blackrock’s gold ETF in total assets held.Strength in Bitcoin came even as the dollar shot up to a four-month high. Expectations of more inflationary policies under Trump underpinned the dollar, as markets bet on relatively higher interest rates in the long term.Defunct crypto exchange Mt Gox, which was at the heart of Bitcoin price weakness earlier this year, was seen moving about $2.4 billion in Bitcoin to two wallets on Monday, Coindesk reported. A mobilization of tokens usually heralds a sale or distribution, with Mt Gox still left with a large reserve of Bitcoin it still needs to return to creditors. But the exchange had lengthened its timeline for the planned distributions until late-2025. Reports of the token mobilization also did little to deter Bitcoin’s rally.Broader crypto prices rose sharply on Tuesday, picking up recent gains after losing some steam in the prior session.Meme coin Dogecoin remained an outperformer, rallying nearly 42% on Tuesday to $0.393216. The token was boosted by increasing speculation that Elon Musk, who is a proponent of the crypto, will secure a position in the Trump administration.  World no.2 crypto Ether rose 4.4% to $3,319.0, remaining close to a three-month high.XRP, SOL, MATIC and ADA rose between 1.9% and 5.6%. More

In a big step for decentralized technology, Deutsche Telekom (OTC:DTEGY) MMS has partnered with Meta (NASDAQ:META) Pool (NASDAQ:POOL) as part of its Enterprise Node Operator (ENO) program, becoming the first telecommunications giant to operate a validator node on the NEAR blockchain. This collaboration not only enhances NEAR’s network security and decentralization but also signals a new era of enterprise-driven blockchain adoption, powered by Meta Pool.Meta Pool, a leader in liquid staking solutions on NEAR, developed the ENO program to connect established industry leaders with the decentralized ecosystem. By joining this initiative, Deutsche Telekom provides NEAR with enterprise-grade infrastructure that boosts both network reliability and performance. This partnership marks a milestone in Meta Pool’s mission to transform the decentralized ecosystem, elevating NEAR’s technology to new levels of scalability and security through trusted industry partnerships.About Meta PoolMeta Pool is a multi-chain liquid staking ecosystem and a DAO with multi-chain governance on NEAR and Ethereum. It offers Vote-to-Earn governance rewards, Liquid Staking Tokens on Ethereum, NEAR, Solana, Aurora, ICP, and Q, and Solana’s first restaking aggregator, supporting mpSOL, jitoSOL, bSOL, and SOL. Meta Pool makes liquid staking simple and accessible across multiple blockchains, with plans for further expansion. A Visionary Collaboration for Decentralized AI and Blockchain InnovationMeta Pool’s ENO program was designed to bridge traditional and decentralized worlds, creating a robust and resilient network on NEAR through partnerships with industry leaders. By joining this initiative, Deutsche Telekom empowers NEAR with the infrastructure to support decentralized applications at scale, opening doors for new advancements in AI, blockchain scalability, and multi-chain interoperability. With Meta Pool’s ENO program as the foundation, Deutsche Telekom is taking a leap toward reimagining the future of decentralized networks.In an era where data sovereignty and transparency are paramount, Meta Pool’s ENO program brings companies like Deutsche Telekom into the NEAR network, securing blockchain and AI solutions that empower users. This partnership sets the stage for a privacy-focused, decentralized future, championed by industry leaders committed to the transformative power of blockchain.NEAR is a high-performance, environmentally sustainable Layer 1 blockchain built to host decentralized applications for millions of users. Thanks to its unique sharding technology, NEAR enables fast, energy-efficient transactions, making it a “green” alternative within blockchain technology. NEAR aligns with Meta Pool’s mission to advance accessible, eco-friendly blockchain solutions that support a more inclusive digital future.Through Meta Pool’s ENO program, Deutsche Telekom gains access to cutting-edge blockchain insights, reinforcing its leadership in decentralized AI. This partnership reflects a shared commitment to exploring Web3 possibilities, setting the stage for a more transparent, secure, and innovative digital world.ContactPablo VazquezMeta Poolpablo@metapool.appThis article was originally published on Chainwire More

Broader crypto prices also surged, with meme token Dogecoin rallying to a three-year high.Improved appetite for crypto sparked a sharp increase in capital inflows into crypto investment vehicles over the past week, factoring into Bitcoin’s strong gains.The world’s largest cryptocurrency hit a record high traded around $86,117.0 by 14:59 ET (19:59 GMT). Gains in Bitcoin and other cryptos were driven chiefly by bets that Trump will enact more crypto-friendly policies in the next four years.Trump had campaigned on a pro-crypto platform, and had even vowed to make America the crypto capital of the world. This notion was the biggest driver of recent crypto gains, as traders bet that the Securities and Exchange Commission will have to soften its stance against the industry. Markets also bet that the industry will gain more legitimacy as an investment vehicle. Optimism over a Trump presidency saw crypto exchange-traded funds clock steep gains in the past few sessions.Bitcoin ETFs saw a record $1.38 billion inflows last Thursday, Coindesk reported, with Blockrock’s iShares Bitcoin Trust (NASDAQ:IBIT) commanding a bulk of these inflows. The IBIT also surpassed Blackrock’s gold ETF in total assets, reaching $34.1 billion, compared to the $33 billion of gold. Increased institutional interest in crypto, after the launch of spot Bitcoin ETFs in U.S. markets earlier this year, has been a major driver of recent gains in crypto markets. Bitcoin’s recent gains saw it trading up about 91% so far in 2024. Trump’s victory marks the start of a new crypto bull market, Bernstein analysts said, urging investors to “buy everything you can.”“We expect a crypto-friendly regulatory environment under Trump, starting with a pro-crypto SEC,” wrote analysts led by Gautam Chhugani. The report added that several members of Trump’s transition team are “explicitly pro-crypto,” reinforcing expectations for favorable policies.Bitcoin surged above $80,000 over the weekend, driven mainly by expectations of crypto-friendly policies under Trump. Among the most significant proposals during his campaign was a national Bitcoin reserve, which would see the US government building a strategic Bitcoin stockpile. While this plan would require legislative approval and might only be realized by 2025, Bernstein sees it as a strong indicator of Bitcoin’s potential role within national treasuries.Bernstein remains “confident” in its 2025 Bitcoin price target of $200,000, noting, “Even at $81K/Bitcoin, we believe risk-reward is favorable over next 12 months.”Bitcoin’s rally also boosts the outlook for publicly traded Bitcoin miners, who are now seeing profits surge as prices remain well above their average production costs, as well as for AI-driven mining companies.Broader crypto markets somewhat cooled after a recent rally, with most major altcoins logging a mixed performance on Monday.Dogecoin was an exception, surging around 29% to a three-year peak of $0.2912. DOGE was boosted chiefly by increased speculation over Elon Musk, who has been a proponent of the token, potentially clinching a position in the Trump administration. Other altcoins retreated. World no.2 crypto Ether fell 1% to $3,170.31, although it remained close to a three-month high. XRP, ADA and MATIC fell between 2% an 4.6%, while SOL jumped more than 5%. Ambar Warrick and Senad Karaahmetovic contributed to this report.  More

Martinez summarized this data by saying that over the past week, large whales have withdrawn a total of 40,000 BTC, which is equal to a whopping $3.28 billion.Last week, the world’s flagship cryptocurrency, Bitcoin, surpassed the $75,000, then soaring to the $77,252 price mark. Today, BTC skyrocketed to $82,490. Over the weekend, BTC soared by 6.2%, jumping from $77,320 to a new historic peak above $82,000. At the time of this writing, the pioneer cryptocurrency is changing hands at $82,355.The Bitcoin rally has recently been fueled by the radical change in the U.S. government, as well as by the 25-basis-points interest rate cut initiated by the Fed Reserve.CZ warned the crypto community that they should “control their greed.” There will be many highs and dips for Bitcoin in the future, he tweeted, stressing the necessity to “apply proper risk management.” The influencer also recommended not putting all of one’s eggs in one basket.The legal team of the current FTX management seeks to retrieve $1.8 billion, which was allegedly transferred to Binance by Sam Bankman-Fried, the former FTX boss who is now serving a 25-year prison sentence. The money was transferred as part of a July 2021 share repurchase deal.This article was originally published on U.Today More

This article was originally published on U.Today More

In his characteristic manner, Schiff expressed his skepticism about Bitcoin’s surge, claiming that it had little to do with its fundamentals.In his tweet, Schiff stated that Bitcoin’s rise “has nothing to do with its supposed fundamentals.”Schiff questioned Bitcoin’s recent price movement as the U.S. dollar is rising while gold falls. According to Schiff, the recent gain is unrelated to fundamentals – particularly the performance of the U.S. dollar and traditional assets such as gold. Schiff claimed that the U.S. economy is on the verge of a boom, with debt-to-GDP ratios falling, lowering the demand for U.S. dollar alternatives.BTC surged 4%, extending its seven-day gains to nearly 20%, following a week that saw the Federal Reserve cutting rates by 25 basis points — which traders considered bullish. At the time of writing, BTC was up 3.29% in the last 24 hours to $82,329 after reaching all-time highs of $82,544.In the last 24 hours, crypto liquidations totaled $620 million. Bearish cryptocurrency bets lost $255 million, while longs were liquidated for $365.69 million, according to CoinGlass data.Futures premiums have risen, with open interest in Bitcoin’s price above $90,000, approaching $2.8 billion on the renowned Deribit derivatives exchange, one of the few crypto native platforms that supports futures trading.If today closes in green, Bitcoin will mark its seventh consecutive day of gains. This article was originally published on U.Today More