Cryptocurrency

Powell, in a recent address, stated that the U.S. Federal Reserve does not need to be “in a hurry to lower rates.” The Fed decreased its benchmark borrowing cost by a quarter percentage point last week, and traders expect it to cut rates similarly in December.”The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in prepared remarks. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”The Fed’s latest views come after inflation and employment figures were announced earlier Thursday. The producer price index grew by 0.2% in October, matching Dow Jones experts’ predictions. Initial unemployment claims for the week ending Nov. 9 totaled 217,000, a 4,000 decrease from the previous week, indicating that the economy remains strong.After reaching all-time highs of $93,465 on Wednesday, Bitcoin’s price fell on Thursday, dragging other cryptocurrencies with it and liquidating many long bets in the process.Although Bitcoin is showing signs of recovery, the price still remains down 1.84% in the last 24 hours to $89,000, while still up 17% on a weekly basis.Ethereum, Solana, Dogecoin and Shiba Inu all fell between 3% and 7% in the last 24 hours. Dogwifhat (WIF), Neiro and Mew reported even larger losses of 12% to 14%.Meanwhile, few cryptocurrencies have returned to the green, but several cryptocurrencies were still trading in the red at press time. Hedera (HBAR) was up nearly 13%, while Cronos (NASDAQ:CRON), Stellar, Cardano, Near and BRETT were up 3% to 15%.XRP also outperformed the top 10, rising 15% in the past 24 hours to $0.8122. CoinGlass data shows that in the last 24 hours, $504 million in positions have been liquidated across all cryptocurrencies. Of that total, $358 million were long positions.This article was originally published on U.Today More

Drift Zone, the Web3 gaming studio building the next evolution of Gacha games, has secured a $190,000 grant to integrate its rapidly-growing gaming ecosystem with the Sei network. With over 500,000 players already active in its Telegram mini-game Drift Zone: Arena, the studio is demonstrating how familiar gaming experiences can unlock mainstream Web3 adoption.The studio’s approach centers on enhancing popular Gacha mechanics – which drove over $4.4B in revenue across Asia last year – with real rewards powered by blockchain technology. By building on Sei, both Drift Zone: Arena and the upcoming collectible auto-battler Drift Zone: Origins will leverage the network’s 380-millisecond block finality and process up to 12,500 transactions per second to deliver Web2-like gaming experiences with Web3 benefits.About Drift ZoneDrift Zone is a Web3 gaming studio that builds games that players love to bridge the gap between Web2 and Web3. The studio’s ecosystem includes Drift Zone: Origins, a collectible card-based auto-battler, and Drift Zone: Arena, a Telegram mini-game with over 500,000 players.Website | X | TelegramAbout SEISei is a Layer 1 that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum with the performance of Solana. The V2 update for Sei makes it the first parallelized EVM. Serving as a new scaling approach for the Ethereum ecosystem while achieving even faster speeds than Solana. Sei launched its mainnet in 2022 and has a growing ecosystem with key teams from Ethereum, Solana, Polygon, Arbitrum, and others deploying. The team is backed by Multicoin, Jump, Coinbase (NASDAQ:COIN) Ventures, and many more.Website | X | TelegramContactCOOSam PattonDrift Zonesam@driftzone.ioThis article was originally published on Chainwire More

Prosper, a decentralized protocol bridging institutional-grade Bitcoin mining power on-chain and aiming to unlock the potential of Bitcoin through liquidity farming, today announced that it has entered into a long-term hosting service agreement with BITMAIN, the world’s leading manufacturer of digital currency mining servers through its brand Antminer.Under the agreement, BITMAIN and its affiliates will provide hosting services for Prosper’s foundation-owned Bitcoin miners, bringing high-quality operational standards for $PROS token holders. The first batch of hashrate under this agreement is expected to come online throughout November via Antpool’s mining pool platform and accessible via Prosper’s v1 web app.Earlier this quarter, Prosper announced a pivot in its strategic direction to focus on Bitcoin mining and unlock Bitcoin’s potential in liquidity farming. Prosper has entered into an agreement with BITMAIN to enhance execution quality for its miners and $PROS token holders. This also highlights Prosper’s value proposition as the only Web3 Bitcoin mining project that has secured multiple top-notch industry players as key service providers.About BITMAINSince its foundation in 2013, BITMAIN is the world’s leading manufacturer of digital currency mining servers through its brand ANTMINER, which has long maintained a global market share and leading position in technology, serving customers across over 100 countries and regions. The company’s R&D center is situated in Singapore, and it has multiple branches and subsidiaries across the globe, including but not limited to Hong Kong, the United States, Malaysia, and the United Arab Emirates.About ProsperProsper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin’s value layers through bridging institutional-grade Bitcoin mining power on-chain, and unlocking the potential of Bitcoin through liquidity farming. For more information, users can visit prosper-fi.com or follow us on X (formerly Twitter).ContactProspercontact@prosper-fi.comThis article was originally published on Chainwire More

The world’s biggest cryptocurrency was still sitting on stellar gains for the week, as it notched record highs above $90,000 on bets that U.S. regulations will favor crypto under Trump. Bitcoin fell 2.6% to $87,634.6 by 00:26 ET (05:26 GMT), after hitting a record high of $93,226.6 earlier in the week. Markets were now watching for the crypto to cross $100,000, which is seen as a key level.Bitcoin was set to add about 14% this week- its best weekly performance since late-February. The coin was also headed for a third straight week of gains. Gains in Bitcoin were driven chiefly by optimism over a Trump presidency, after he won the 2024 presidential elections. Institutional inflows into crypto exchange-traded funds were seen as a major driver of recent price gains.Trump has vowed to enact more crypto-friendly regulation, and has also floated the possibility of a national Bitcoin reserve. But optimism over Trump now appeared to have cooled, especially as traders now awaited more clarity on what his policies will entail.Trump is also expected to enact expansionary policies that could push up inflation and keep interest rates relatively high in the coming years. Crypto’s recent rally was stalled by heightened uncertainty over U.S. interest rates, especially after a series of strong consumer and producer inflation readings for October.The readings were followed by comments from Federal Reserve Chair Jerome Powell, who said that resilience in the U.S. economy gave the central bank more time to consider further interest rate cuts.Traders were seen scaling back bets on a December rate cut following Powell’s comments, which also sparked losses in broader risk-driven assets. Wall Street retreated from record highs in the past two sessions. The dollar and Treasury yields rose sharply this week, further pressuring risk assets. Broader cryptocurrency prices retreated tracking Bitcoin, but were mostly set for strong gains this week. World no.2 crypto Ether fell 5.4% to $3,050.79. Dogecoin was a standout performer this week, up 65% and headed for its best week since October 2022. Social media buzz around the token rose after Trump announced the formation of the Department of Government Efficiency (DOGE), which will be led by Elon Musk and Vivek Ramaswamy.SOL, XRP, MATIC and ADA moved in a flat-to-low range on Friday, but were all sitting on strong gains over the past week.  More

Key resistance and support levels are being watched by traders and investors alike as Bitcoin continues its remarkable ascent in order to determine whether there is still fuel left in the rally. Bitcoin is technically in a bullish uptrend after surpassing key resistance levels of $75,000 and $85,000. BTC has continued to rise, according to the daily chart, supported by significant volume spikes and a distinct breakout from the previous consolidation phase. According to the chart pattern, Bitcoin has the potential for further growth, with the $100,000 mark serving as the next significant psychological barrier. In addition to being a technical goal, this mark serves as a psychological barrier that, if broken, might draw in new customers and raise prices even further. Support between $88,000 and $90,000 will be essential for Bitcoin to continue on its upward trajectory in the near future. A reversal to these levels would not disrupt the upward trajectory and would serve as a foundation for Bitcoin’s subsequent ascent. A decline below this support zone, however, might indicate exhaustion and trigger a brief correction, with the $75,000 level serving as a more robust support floor.It is possible that Bitcoin will reach $100,000 this week, given the current momentum and sustained demand, particularly if the market is still favorable and buying pressure continues. But because the market can be volatile, it is also critical for investors to exercise caution and keep an eye out for possible profit-taking at these high levels. Meme coins can no longer be dismissed as online jokes, especially when they begin to exhibit steady and significant growth, as Pepe’s recent price explosion demonstrates. PEPE’s current chart shows a distinct and quick upward trend; the token has just broken through significant resistance levels and hit new highs.A robust trading volume highlights this rally, demonstrating the sustained and substantial demand for PEPE. Since the Relative Strength Index is currently in overbought territory, PEPE’s price may encounter short-term resistance or even a pullback.But given how strongly it is rising, there may be a strong support base that could serve as a basis for future expansion. Rekindled interest has also been seen on the larger meme coin market as assets such as Dogecoin and Shiba Inu have rallied alongside PEPE. The rise in popularity of meme tokens suggests that investors are prepared to make bets on these extremely erratic assets, perhaps as a result of the profits made by more well-known cryptocurrencies like Ethereum and Bitcoin.Meme coins have seen a surge in large transactions, which is indicative of greater whale interest and high trading volumes and are fueling these price increases. The meme coin market is emerging as an interesting subset of the larger cryptocurrency market thanks to PEPE’s quick 136% rally.The recent price performance of these assets shows the possibility of significant returns, albeit with increased volatility, even though they still carry a high risk. Meme tokens are expected to hold their position on the market and possibly continue to surprise the industry as long as they continue to fascinate cryptocurrency enthusiasts.According to the most recent chart patterns and ETH’s present course, it appears that the cryptocurrency may be in the middle of a correction, getting ready for the next significant impulsive wave. According to the given chart, ETH recently rose to about $3,200 before slightly declining. The second wave, which is usually a retracement phase that cools off prior gains before the asset builds momentum for the next big move, may be coming to an end with this correction. The next impulse wave or the third wave is anticipated to be the strongest if Ethereum follows this pattern, driving the price of ETH higher. The $3,500 psychological resistance and the $3,800 level, where Ethereum has previously encountered resistance, are important levels to keep an eye on as possible targets for this next surge. Based on past price action, ETH may target the $4,200 level, another significant resistance if momentum holds. According to the Relative Strength Index (RSI), ETH’s momentum is still in bullish territory, and the idea of a sustained uptrend is given more credence by the high trading volumes. But since market sentiment and other outside variables may affect ETH’s trajectory, it is crucial to keep a close eye on these technical indicators.This article was originally published on U.Today More

Layer-3 Blockchain Brings High-Speed, Stable, Zero-Gas Transactions and a Complete Web3 Ecosystem Bridging Web2 and Web3Playnance, a leader in Web3 technology, announces the launch of PlayBlock, a cutting-edge Layer-3 blockchain that is transforming the landscape for trading, gaming, and decentralized finance (DeFi). With PlayBlock as the foundation, Playnance aims to drive mass Web3 adoption by offering zero-gas transactions, USD-pegged stability via USDP, and seamless Ethereum Virtual Machine (EVM) compatibility to provide users with a smooth, accessible path from Web2 to Web3.The Playnance Ecosystem: Five Core Components to Drive Mass Web3 AdoptionPlaynance has developed a cohesive ecosystem centered around five integrated components, each designed to simplify and enhance the Web3 experience:1. PlayBlock Blockchain: A high-speed, EVM-compatible, gas-free blockchain supporting up to 40,000 transactions per second (TPS). PlayBlock, built with Arbitrum Orbit and Gelato’s Rollups-as-a-Service, ensures fast, scalable transactions suited for both gaming and trading.2. Playnance Studio: A Web3 gaming studio offering a collection of blockchain games built on PlayBlock, delivering secure, transparent, and engaging experiences.3. Playnance Bridge (CoinsExchange.com): Powered by the Playnance Bridge on CoinsExchange.com, users can effortlessly swap assets with zero in-and-out fees, providing an affordable entry to the Playnance ecosystem.4. PlayWall Wallet and dApp Store: A decentralized wallet and application hub for PlayBlock dApps, PlayWall simplifies the storage and management of digital assets and will soon launch as a one-stop destination for Web3 applications.5. Playnance Partners: A partner network offering white-label solutions and development support, enabling businesses to integrate with Playnance’s ecosystem and connect with a growing Web3 audience. PlayBlock Benefits for Traders, Gamers, and DevelopersFor TradersAbout PlaynancePlaynance, headquartered in Ramat Gan, Israel, with offices in Dubai, UAE, is a comprehensive Web3 ecosystem focused on transforming the user experience in trading, gaming, and DeFi. By integrating zero-gas transactions, USDP stablecoin, and EVM compatibility within the PlayBlock blockchain, Playnance is dedicated to creating a seamless, accessible transition to Web3 for a global user base.For more information on PlayBlock and the Playnance ecosystem, users can visit PlayBlock’s official website or join PlayBlock’s community.ContactFounder,CEOPini PeterPlaynancePini@playnance.comThis article was originally published on Chainwire More

Describing the atmosphere at the meeting, Novogratz pointed out the importance of a unique “social contract” that he believes goes beyond typical financial motivations. This social element, the veteran investor suggested, is a crucial part of Bitcoin’s appeal and resilience, built on the shared goals and dedication of its long-standing community.Thus, according to Mike Novogratz, it is not just the decentralized structure or scarcity that gives Bitcoin (BTC) value. Rather, he sees the community itself – the individuals who have dedicated their time, energy and even resources over the years – as essential to the cryptocurrency’s foundation.He believes that it is this social fabric that keeps Bitcoin moving forward, and that a lot of people have done a lot of work, often behind the scenes, to make BTC what it is today. At the end of the day, it is the people behind Bitcoin as a collective force that not only maintains Bitcoin’s current value but also strengthens it through belief and shared purpose.This call to action to expand Bitcoin’s influence shows that Novogratz sees its value as tied to its reputation as a movement, not just a digital asset. He believes this shows how the cryptocurrency has evolved from being just a currency to a vibrant, active community with a clear purpose.This article was originally published on U.Today More

“Bitcoin is going ballistic,” Saylor tweeted, posting an AI-generated image of himself dressed as an astronaut on a space station.Earlier today, Saylor tweeted that he was preparing a “$100,000 Bitcoin party,” apparently expecting the largest cryptocurrency to break above the $100,000 level.VanEck’s expectations lived up to be true about the high volatility pump that took place after November 5. There is now no technical resistance for Bitcoin to grow further up, Sigel said. According to his forecast, the flagship cryptocurrency is likely to smash through repeated all-time highs over the next two quarters. The same pattern played out four years ago, he stated.Back in 2020 in November, Bitcoin doubled, according to VanEck’s executive and it faced roughly six ten-percent corrections. Therefore, it will hardly be a straight increasing line on charts now. So far, Sigel said, Bitcoin has been up 30% since the day when the US political leadership saw a radical change.“A number of indicators that we track are still flashing green for this rally to continue,” Matthew Sigel admitted, targeting $180,000 next year. He reminded that the US government is now making a pro-crypto pivot in terms of its intentions to create a Strategic Bitcoin Reserve, possibly remove the SEC chair Gary Gensler who has been stifling crypto companies in the US by constantly suing them.Now, Sigel said, crypto companies plan to go back to the US, open offices, providing lots of new jobs, which will be good for crypto and the GDP as well.This article was originally published on U.Today More