Bitcoin reached a new all-time high of $93,434, marking its 9th consecutive day of climbing higher. The release of favorable CPI data, showing a modest increase of 0.2%, triggered the rally, with hopes for a rate cut. Bitcoin (BTC) is making headlines again, hitting a new all-time high of $93,434 for the 9th consecutive day of impressive gains. At the time of writing, Bitcoin priced at $89,880, marking a 20% surge in just one week. This latest rally follows a significant boost after the release of the latest Consumer Price Index (CPI) data, which showed a modest 0.2% increase from September’s 2.4% to 2.6%, sparking hopes for a potential rate cut. This further fueled the rally and contributed to growing optimism about Bitcoin’s prospects. Since Donald Trump’s victory in last week’s US presidential election, BTC has soared more than 34% from $69,322 to its current record-breaking levels. In terms of market cap, Bitcoin now holds $1.78 trillion, surpassing the oil giant Saudi Aramco and placing it as the seventh largest asset globally. Many analysts are now predicting that Bitcoin could hit $100,000 in the coming week. There are also speculations that the cryptocurrency could even become the US reserve currency following Trump’s win. However, attention now shifts to the implications of his policies on the crypto market and the broader U.S. economic outlook. Trump has pledged to make America the “bitcoin and cryptocurrency capital of the world.” This has led some to predict that Bitcoin could reach $100K by January 2025, when he takes office. Further, institutional investors are flocking in, especially through newly accessible ETFs, and heavyweight players are eyeing Bitcoin as a reserve asset. Bitcoin spot ETFs reached a total trading volume of over $8.07 billion on Nov 13. BlackRock’s ETF alone set a new record, hitting $5.37 billion in volume. Bitcoin’s Bullish Momentum and Potential for Short-Term Correction The bullish momentum is also visible on the charts. On the 4-hour BTC/USDT chart, Bitcoin has recently broken past both the 100-day and 200-day moving averages, with the 50-day crossing above both, signaling a strong uptrend. Now that the BTC price has reached the channel’s upper boundary, consolidation may be underway. For the short term, a period of distribution near this level is expected, followed by a slight correction back to the channel’s middle boundary around $85K. To validate this, BTC is currently priced at $89,880. A brief correction is expected, with support zones at the Fibonacci retracement levels—around $87,655 (0.23) and $80,478 (0.5). These levels may offer a chance for profit-taking and re-entry in the mid-term. On the other hand, Bitcoin’s CMF reading of 0.23 on the 4-hour chart indicates strong buying pressure. This supports the bullish trend—a healthy correction may offer more strategic entry opportunities. The next key targets are $94K and $95K, which could set the stage for the much-anticipated $100K milestone.

Ethereum trades in the $3.2K range, with a brief 1.47% spike. ETH experienced a liquidation of $88.74 million in the market. The surge in crypto asset prices ignited a bullish sentiment in the cryptocurrency market. Notably, the global crypto market cap currently settles at $2.99 trillion, with a 3.64% increase over the day. Bitcoin (BTC) hit its new all-time high of $93.4K, which lifted the crypto market. Despite the surge, the largest altcoin Ethereum (ETH) struggles to break the crucial $3.5K mark after crossing the $3.2K mark. The altcoin began a downside correction and is now consolidating and facing obstacles at $3,260. As per analysts’ predictions, Ethereum’s upside movement could fuel the upcoming altcoin season. The asset has recorded a moderate gain of 1.47% over the past 24 hours. With the current bearish momentum, ETH may end up trading to the downside today. At the time of writing, Ethereum trades at $3,224. Ethereum has dipped to a low of $3,121 and ascended to $3,337. It’s crucial to note that the market observed a liquidation of $88.74 million worth of Ethereum within this span. Also, ETH’s daily trading volume stays at $48 billion. On the other hand, on-chain data reveals that whales are actively accumulating Ethereum. A new whale wallet added 7,389.5 ETH, worth $23.44 million. Over the past 3 days, this whale has collected 18,049 ETH, amounting to $59.3 million. Will ETH Break Through Key Resistance Soon? The technical analysis of the ETH/USDT trading pair unveiled a brief negative sentiment as the Moving Average Convergence Divergence (MACD) line settled beneath the signal line. This indicates the incoming negative trend in the market. ETH chart (Source: TradingView) The Chaikin Money Flow (CMF) indicator is at 0.15, suggesting a positive money flow, briefly hinting at the possibility of an upside correction. Meanwhile, ETH’s daily trading volume has slipped by over 11.95%. Besides, the existing market sentiment of ETH is likely in the neutral zone, as the daily relative strength index (RSI) is positioned at 50.64. In addition, the daily frame of Ethereum exhibits the short-term 50-day moving average above the long-term 200-day moving average. Ethereum’s four-hour price chart signals a brief downside correction. After a strong rally, the ETH price has faced a minor pullback. If Ethereum fails to clear the $3,308 resistance, it could likely start a steady downside correction. The immediate support on the downside might be at $3,103. Notably, a decisive drop below the $3K mark could drive the price further down. On the contrary, if the ETH bull blocks the asset from dropping below $3.2K, the closest resistance level might be $3,398. If this resistance is broken, Ethereum’s price could potentially climb to the $3.5K mark. Highlighted Crypto News Trump Endorses Pro Crypto Matt Gaetz for US Attorney General

Investor enthusiasm is rising for Solana as market watchers anticipate a significant price surge. However, attention is shifting to a new contender that promises to challenge Solana’s dominance. The crypto landscape is buzzing with speculation about which digital assets are poised for impressive growth, sparking curiosity among traders and enthusiasts alike. Amid this excitement, XYZVerse emerges as a pioneering memecoin that unites sports fans, aiming to outshine other tokens that have achieved remarkable gains. Score Big with XYZ: The New Meme Coin Heavyweight The fans are losing it! The XYZ token is in the crypto ring, landing blows on the competition – bullshit coins, worthless farming schemes, and scam projects. Like a true champ, this first-ever all-sports meme token has fought its way through the bear market with fearless momentum and shows no signs of slowing down. With eyes set on a roaring thousand-fold growth, XYZ is destined to leave the 2024 meme coin triumphants like BOME and WIF trailing in its wake. Own the field, earn while the crowd plays XYZ is more than just a benchwarmer in the meme coin game; it’s creating the ultimate playing field with XYZVerse, where the thrill of sports meets the energy of meme culture. With a roadmap equipped with entertainment dApps, prediction markets, and sports betting options, XYZ is poised to draw in millions of gamblers ready to join the action. Remember Polymarket’s massive $1 billion trading volume during the US election betting fever? XYZ is gearing up for an even bigger win in the GameFi arena, letting its stakeholders cash in on the perfect combo of meme coin vibes, sports hype, and crypto mass adoption. Missed meme coin supercycle? By capitalizing on the ever-expanding gambling niche, XYZ is set to become the G.O.A.T of meme coins. BOME’s 5,000% takeoff and WIF’s 1,000% year-to-date rally are now relics of the past because XYZ is set to explode by over 9,900% after the TGE and outshine its sensational predecessors. Get in the game early to secure your spot – currently undervalued, XYZ is going the distance to break new records! Rallying the community, securing the win XYZVerse will be the MVP in this bull run, giving the community the control to call the plays and steer the ecosystem’s direction. Active contributors will receive airdropped XYZ tokens as a reward for their dedication. With rock-solid tokenomics and plans for both CEX/DEX listings, XYZ is positioned for a championship run, ensuring a steady revenue flow and consistent token burns to keep the scoreboard in favor of a strong price and a thriving community. >>The XYZ presale is live – don’t miss out on this knockout 99,900% opportunity!<< Solana (SOL) Solana is a blockchain platform that focuses on speed and scalability. It’s a foundation for decentralized applications, like Ethereum and Cardano. But Solana stands out because it aims for faster transactions and flexible development options. Developers can use multiple programming languages to build on it. SOL is Solana’s native cryptocurrency. It’s central to the ecosystem, helping to run programs, process transactions, and reward those who support the network. Solana’s potential lies in its unique approach to scalability. Unlike some platforms, it doesn’t use sharding or second-layer solutions. Instead, it handles a high number of transactions on its main network. This makes it attractive for developers who want to build high-activity products and services. In the current market, SOL draws interest due to its technological strengths and expanding ecosystem. Compared to other coins like Ethereum, which faces scalability challenges, Solana offers a faster alternative. As the crypto market trends towards scalable and efficient networks, Solana positions itself as a strong contender. Conclusion While Solana gains investor interest, XYZVerse (XYZ) emerges as a pioneering memecoin uniting sports fans, aiming for massive growth with its unique, community-driven ecosystem. You can find more information about XYZVersus (XYZ) here: Site, Telegram, X Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Matt Gaetz nominated as U.S. Attorney General by Donald Trump. Gaetz supports cryptocurrency, proposing a bill to pay taxes in Bitcoin. President-elect Donald Trump has nominated Florida Congressman Matt Gaetz as the next U.S. Attorney General. Known for his strong stance on justice reform and cryptocurrency advocacy, Gaetz has gained attention for his criticisms of the Department of Justice (DOJ) under the Biden administration. If confirmed, he is expected to focus on restructuring the DOJ, emphasizing transparency and restoring credibility. Gaetz has long argued that the DOJ has been politicized and requires major reforms. Consequently, Trump’s selection of Gaetz reflects his commitment to reshaping the department and addressing what he refers to as a “weaponized government.” Moreover, Trump praised Gaetz as a tenacious advocate for justice reform and a staunch defender of the Constitution. Gaetz’s AG Bid Boosts Trump’s Pro-Crypto Agenda Gaetz, in addition to focusing on justice reform, is a strong advocate for cryptocurrency. He introduced a bill in June allowing federal income taxes to be paid with Bitcoin, aiming to make the U.S. Treasury more accommodating to digital currencies. Gaetz argues that such measures will foster innovation and offer more financial options for Americans. This proposal directly supports Trump’s broader push to back the cryptocurrency industry and ease regulatory restrictions on crypto companies. Trump’s selection of Gaetz is part of a wider trend within his circle to support pro-crypto figures. The nomination signals Trump’s intent to prioritize crypto-friendly policies during his second term. However, the Senate is likely to scrutinize Gaetz’s confirmation process due to his controversial past and ongoing ethics investigations.

As the cryptocurrency landscape anticipates a new surge, certain digital assets are drawing increased attention. With innovative features and robust community support, some tokens are showing signs of significant potential. Investors are closely monitoring these coins as they position themselves for substantial growth. One coin garnering attention is XYZ, aiming to surpass tokens that have witnessed massive gains by blending sports enthusiasm with meme culture in a unique, community-driven ecosystem. Dominate the Field with XYZ: The Next Meme Coin Champion! The game is on, and XYZ is leading the charge in the meme coin arena! This sensational all-sports meme token has hit the market with unstoppable momentum, knocking out weak competitors and scammy cryptos. As it charges ahead, XYZ is set to deliver jaw-dropping gains, leaving the likes of BOME and WIF far behind. With eyes on a staggering 99,900% growth, XYZ is ready to claim the meme coin crown in the next crypto bull marathon! Rule the game, cash in as the bets roll in XYZ is the star player in XYZVerse – the ultimate fusion of sports thrill and meme culture. This community-centered ecosystem is the perfect playground for crypto degens and sports fans alike, offering everything from entertainment apps to prediction markets. Think back to Polymarket’s $1 billion trading volume during the US elections betting frenzy, and now, picture that on steroids with XYZVerse. With millions of sport bettors getting ready to jump in the action, opportunities for early investors in XYZ are really huge! XYZ is currently undervalued, and with major listings on the way, presale participants stand to secure life-changing gains. >>>Don’t miss your shot at being part of the XYZ winning team!<<< Ethereum (ETH) ETH has experienced significant price movements recently. In the past week, its value surged by 35.41%, showing a strong short-term uptrend. Over the last month, ETH climbed by 30.96%, indicating sustained growth. However, when looking at the six-month period, the increase is a modest 6.87%, suggesting some volatility in the longer term. Technical indicators offer a mixed outlook for ETH. The current price range of $2,612.70 to $3,504.75 is close to the 10-day simple moving average of $3,305 and the 100-day average of $3,155.34. The Relative Strength Index (RSI) is at 43.69, which is below the typical overbought threshold, implying that there may be room for further growth. Additionally, the stochastic oscillator stands at 23.40, approaching oversold territory, which could hint at a potential upward correction. Based on this data, XRP could continue its upward trajectory. If it breaks through the $0.69 resistance, it might target the second resistance level at $0.81, representing a potential gain of around 26%. However, if the price reverses, the nearest support is at $0.44, a drop of approximately 31% from the current high. Traders should watch these levels closely as XRP’s momentum unfolds. XRP (XRP) XRP has been on a remarkable upward trend recently. Over the past week, its price surged by 33.74%. In the last month, it climbed 24.96%, and over six months, it increased by 29.60%. These gains suggest growing investor interest and momentum in the market for XRP. Currently trading between $0.51 and $0.64, XRP is approaching its nearest resistance level at $0.69. The 10-day simple moving average stands at $0.65, slightly above the 100-day average of $0.58. Technical indicators like the Relative Strength Index at 64.71 and Stochastic at 72.08 indicate that XRP is nearing overbought territory. The MACD level of 0.0185 also reflects bullish momentum. Based on this data, XRP could continue its upward trajectory. If it breaks through the $0.69 resistance, it might target the second resistance level at $0.81, representing a potential gain of around 26%. However, if the price reverses, the nearest support is at $0.44, a drop of approximately 31% from the current high. Traders should watch these levels closely as XRP’s momentum unfolds. Conclusion Ethereum, XRP, and XYZ are leading the market, with XYZ’s unique sports-meme ecosystem positioning it for massive growth during the 2024 bull run. You can find more information about XYZVersus (XYZ) here: Site, Telegram, X Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Polymarket’s CEO Shayne Coplan was investigated by the FBI at his home on Wednesday. The betting market accurately predicted Trump’s win over Harris in the US elections. The crypto market is getting accustomed to being mind-blown every few days as Bitcoin continues on its upward rally. In the last few hours, the cryptocurrency has rallied to a new ATH of $93,434. Meanwhile, amid positive incidents within the sector, Polymarket’s CEO, Shayne Coplan, faced regulatory scrutiny. The betting market’s CEO woke up on Wednesday morning to see the US FBI storm his Manhattan apartment and seize his mobile phone. This instance has caused quite an uproar at the global level as the basis for the search was not sighted then. Moreover, the FBI raid occurred just a week after Polymarket’s accurate predictions of the US election results. On the other hand, the CEO, Shayne Coplan, took to his X account to state that the current government has made a ‘last-ditch effort’ to go after companies that they believe are associated with political opponents. A New York Times source stated that the incident was an ‘obvious political retribution by the outgoing administration’. Several other community members have expressed concerns about the arrest. It has also led to speculations that the Polymarket CEO’s home raid was an aftermath of the election results as the betting market predictions have come true. What was Polymarket’s Role in the US Elections? Previously, during the election campaign season, Polymarket played host to several political-related bets. The betting market also acted as a form of exit poll and a survey of citizens’ attitudes toward presidential candidates. During the Trump Vs. Biden campaign, the betting market clearly leaned towards the odds of Trump winning the elections. However, on Harris’s entrance, the polls showed Trump and Harris going neck-to-neck on election wins. In the coming days, these polls changed to the aforementioned predictions. Moreover, Coplan also stated that Polymarket provided value to millions of people during this season. Several members made significant profits from the betting market on Trump’s win as per reports.

Bitcoin has continued with its strong bullish momentum, trading at highs that have never before been seen. Today, the asset has achieved a new all-time high of roughly $93,477. This ATH was achieved not long ago following an earlier dip today to $85,000. However, at the time of writing, BTC has seen a slight pullback, now down 0.5% from its peak to currently trade at $92,544, albeit still up 5.6% in the past day. Bitcoin Finally At Its Peak? Amid the price surge in BTC, market analysts have offered their perspectives on Bitcoin’s potential trajectory. Crazzyblockk, a CryptoQuant analyst, addressed questions regarding whether Bitcoin has reached its peak by evaluating market profitability indicators. According to Crazzyblockk, two key metrics are essential for assessing Bitcoin’s profitability: the number of Bitcoin addresses currently in profit and the overall profitability rate for these addresses. The analyst observed that nearly all Bitcoin addresses are profitable, indicating heightened market risk. However, he also noted that current profit margins across different holding periods remain below those observed during previous bull markets, such as the 2019-2020 and 2021 uptrends, where profit margins reached 800-900%. Despite concerns about potential short-term price corrections due to elevated market risks, Crazzyblockk expressed confidence in Bitcoin’s long-term upward trajectory. He emphasized that strategies such as Dollar-Cost Averaging (DCA) and maintaining a long-term investment approach could benefit capital growth in this environment. More Room For Gains? In a separate analysis, CryptoQuant analyst Avocado Onchain highlighted miner activity and its implications for Bitcoin’s price movement. Avocado noted that some Bitcoin miners have already begun taking profits, but this does not necessarily indicate a weakening of Bitcoin’s overall upward potential. He pointed to the Miner Position Index (MPI), which tracks Bitcoin outflows from miners’ wallets relative to the annual average. A high MPI suggests increased miner selling activity, which can signal that Bitcoin’s price may be approaching a cycle peak. So far, recent data showed a slight increase in MPI as Bitcoin reached new all-time highs. Avocado explained that this could represent early positioning for the next market cycle. By converting MPI to a 30-day moving average, clearer signals emerge regarding market cycles. The analyst identified patterns of profit-taking by miners near cycle tops, often followed by subsequent price increases and, eventually, longer-term downtrends. Avocado Onchain also highlighted additional data supporting the potential for further Bitcoin price growth. The hashrate and mining difficulty, key indicators of mining activity and network security, have reached new highs, reflecting strong miner participation and overall network health. This data, combined with continued market interest and growing liquidity, suggests that Bitcoin’s price could experience further upside in this cycle, as suggested by Avocado’s analysis. Featured image created with DALL-E, Chart from TradingView

A new affordable token is generating buzz among investors seeking significant gains in the crypto market. With the potential to outperform established digital assets, this emerging coin is capturing attention for its promise of remarkable growth. Enthusiasts are closely watching as it shows signs of becoming the next big opportunity in the world of cryptocurrencies. Enter XYZVerse (XYZ), a pioneering memecoin that brings together sports fans from football to eSports within a unique ecosystem. The All-Sports Meme Token You Can’t Afford to Bench! XYZ is your exclusive VIP pass to a sports-driven, meme-fueled revolution. Think of it as the MVP of the XYZVerse ecosystem, where degens can score big off the growing demand for prediction markets Picture this: Polymarket hitting $1 billion in trading volume during the US presidential election – now throw in the hype of meme coins and the thrill of sports betting. With millions of sports fans ready to hit the field and cash in the XYZVerse ecosystem is set to keep expanding – and your rewards will slam dunk through the roof! >>>XYZ presale is your first-quarter chance to get in before the mind-blowing explosion!<<< In 2024, meme coins are the undisputed champions of the crypto world, and XYZ is set to crush the competition. With potential thousand-fold returns that will blow past the finish line, the presale plan draws a hefty 99,900% growth by the TGE. Forget about BOME’s 5,000% rise or WIF’s 1,000% rally – XYZ is here to outscore them all! With upcoming listings on major CEX and DEX platforms, rock-solid defense in the form of audited smart contracts, and a fully vetted team, XYZ is already ahead of the game. The first-mover advantage is key here – get in before the crowd storms the field, and you’ll be sitting on way bigger returns! >>Don’t be left on the bench – grab your XYZ tokens now and be part of the next massive crypto championship!<< Shiba Inu (SHIB) Shiba Inu (SHIB) is a cryptocurrency inspired by Dogecoin but with a twist. Unlike Dogecoin, SHIB runs on the Ethereum blockchain, so it can interact with Ethereum’s network of decentralized applications. Launched in August 2020 by anonymous creator Ryoshi, SHIB started with a supply of one quadrillion tokens. In a bold move, half of these tokens were sent to Ethereum co-founder Vitalik Buterin. He donated a large portion to the India Covid Crypto Relief Fund and burned 40% of the supply, reducing the number of SHIB tokens and boosting its profile. SHIB’s home on Ethereum opens doors to exciting developments. ShibaSwap, a decentralized exchange, lets users trade SHIB and other tokens directly. Plans for an NFT platform and a governance system give holders a say in decisions. In the current market, where utility and technology are key, SHIB stands out from other meme coins. Its integration with Ethereum could make it more attractive to those looking beyond hype. As the crypto market evolves, SHIB’s potential to grow and adapt may give it an edge over other meme-based tokens. Conclusion SHIB and others are promising, but XYZVerse (XYZ), the first sports memecoin aiming for 20,000% growth, could surpass them all in the 2024 bull run. You can find more information about XYZVersus (XYZ) here: Site, Telegram, X Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Crypto ETF issuer and asset manager BlackRock announced on Wednesday the expansion of its USD Institutional Digital Liquidity Fund (BUIDL) to include five new blockchain ecosystems: Aptos, Arbitrum, Avalanche, Optimism, and Polygon. Initially launched on the Ethereum network in March 2024, BUIDL rapidly gained traction among investors, becoming the largest tokenized fund globally regarding assets under management (AUM) within just 40 days. BNY Mellon To Custody BUIDL The expansion will allow BUIDL to interact with more blockchain-based financial products and infrastructures. BlackRock aims to enhance accessibility for investors, decentralized autonomous organizations (DAOs), and digital asset firms, enabling them to leverage BUIDL within the ecosystems of their choice. Carlos Domingo, CEO and co-founder of Securitize, the firm responsible for tokenizing BUIDL, emphasized the importance of this multi-chain approach in Wednesday’s press release by saying: With the addition of these blockchains, BlackRock aims to provide increased options and access for investors, allowing developers to build applications that integrate seamlessly with the BUIDL fund. BNY Mellon, which recently received a Bitcoin and crypto custody license for institutional services, will play a key role in this initiative as the fund administrator and custodian for BUIDL. BlackRock Bitcoin ETF Achieves Unprecedented Growth On the crypto ETF front, BlackRock’s Bitcoin ETF, IBIT, has reached a remarkable milestone, surpassing the $40 billion mark in assets under management (AUM) just two weeks after hitting $30 billion. This achievement comes in a record 211 days, shattering the previous record of 1,253 days held by the iShares Core MSCI Emerging Markets ETF (IEMG). IBIT is now positioned in the top 1% of all ETFs by assets and at just 10 months old, it has outperformed all 2,800 ETFs launched in the past decade, according to ETF expert Eric Balchunas. Balchunas further highlighted that Bitcoin ETFs collectively have crossed the $90 billion asset threshold, following a significant $6 billion surge in the past few days. This increase comprises $1 billion in new inflows and $5 billion in market appreciation. The growing popularity of Bitcoin ETFs indicates that they are now 72% of the way toward surpassing gold ETFs in total assets. The rise in Bitcoin ETF assets has coincided with a surge in investor confidence, particularly following Donald Trump’s recent victory over Kamala Harris in the presidential elections. This political shift has positively influenced market sentiment, contributing to a broader uptick in cryptocurrency prices. Bitcoin, in particular, has experienced a substantial rally, climbing over 24% to reach a record high of $93,000 in the past week alone. Featured image from DALL-E, chart from TradingView.com

Toncoin (TON) has seen notable changes in its market dynamics so far, driven by supply variations and heightened user engagement across its ecosystem. Particularly, according to a recent analysis by CryptoQuant analyst Shiven Moodley, TON’s total supply has steadily grown, moving from approximately 5.01 billion tokens to around 5.1 billion tokens. This growth, however, comes alongside significant changes in the circulating supply, particularly marked by a sharp decline in early 2024, attributed to lockups and staking activities within the network. The changes in circulating supply, according to Moodley, reflect TON’s evolving liquidity in the market and the increasing trend of users committing to staking and long-term holding. Layer One And Layer Two Comparisons: TON’s Position And Future Outlook Moodley’s analysis also highlighted that activities within the TON ecosystem, notably on the Masterchain and Workchain, are pivotal in driving user engagement. Specifically, apps and games hosted on the workchain, such as Hamster Kombat, DOGS, and Catizen, have been central to boosting increased trading activity. Moodley delved into TON’s comparative positioning among other prominent altcoins and blockchain ecosystems. He pointed out that over the past six months, TON transactions have maintained a relatively consistent pace, with occasional spikes linked to airdrops for games on the network. This steady transaction activity positions TON as a “strong layer-one blockchain network” with notable consistency compared to its closest competitor, Arbitrum. The CryptoQuant analyst noted: Notably, this shift of potentially reduced market liquidity within the TON ecosystem, as suggested by Moodley, could come as more users opt to stake their tokens and engage in network activities over extended periods. Toncoin Market Performance Toncoin has benefited from the ongoing bull run in the market so far. In the past week, the altcoin has seen a major price and market capitalization increase, jumping by more than 15%. This double-digit increase in the past week has seen TON’s market cap reach above $13.8 billion, and its price trading for $5.41, at the time of writing, has risen by 1.4% in the past day. Interestingly, despite this increase, TON’s daily volume, after being valued above $1 million on November 12 seems to have cooled off with a current valuation of $679 million. Regardless, many in the crypto community are still optimistic about the altcoin. For instance, a renowned crypto analyst CryptoBullet on X has recently predicted a $12 to $15 target for Toncoin. Featured image from Adobe Stock Chart from TradingView

Dogecoin started a fresh surge above the $0.320 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.4180. DOGE price started a fresh rally like Bitcoin and climbed above the $0.350 resistance level. The price is trading above the $0.3650 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3870 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.400 and $0.4150 resistance levels. Dogecoin Price Eyes Fresh Surge Dogecoin price started a fresh surge after it cleared the $0.320 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.3800 and $0.400 resistance levels. The pair even surged above $0.4200. A high was formed at $0.4342 and the price is now correcting gains. There was a move below the $0.40 level. The price dipped below the 50% Fib retracement level of the upward move from the $0.3519 swing low to the $0.4342 high. However, the bulls are active near the $0.3850 zone. Dogecoin price is now trading above the $0.3650 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.3870 on the hourly chart of the DOGE/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.3519 swing low to the $0.4342 high. Immediate resistance on the upside is near the $0.400 level. The next major resistance is near the $0.4150 level. A close above the $0.4150 resistance might send the price toward the $0.4320 resistance. Any more gains might send the price toward the $0.4500 level. The next major stop for the bulls might be $0.4650. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.4150 level, it could start a downside correction. Initial support on the downside is near the $0.3870 level and the trend line. The next major support is near the $0.3715 level. The main support sits at $0.3420. If there is a downside break below the $0.3420 support, the price could decline further. In the stated case, the price might decline toward the $0.3150 level or even $0.300 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.3870 and $0.3715. Major Resistance Levels – $0.4000 and $0.4150.

A new cryptocurrency priced at just half a cent is catching the eye of investors, hinting at the potential for significant returns. This low-cost token is gaining momentum, sparking discussions about whether it could outperform established players like Avalanche (AVAX). With the crypto market always on the lookout for the next breakout star, attention is turning to emerging tokens that combine innovation with community engagement. XYZVerse (XYZ) is this promising token, uniting sports fans through a memecoin that blends meme culture with athletic enthusiasm, aiming to achieve remarkable growth with a community-driven focus. Score Big with XYZ: The New Meme Coin Heavyweight The fans are losing it! The XYZ token is in the crypto ring, landing blows on the competition – bullshit coins, worthless farming schemes, and scam projects. Like a true champ, this first-ever all-sports meme token has fought its way through the bear market with fearless momentum and shows no signs of slowing down. With eyes set on a roaring thousand-fold growth, XYZ is destined to leave the 2024 meme coin triumphants like BOME and WIF trailing in its wake. Own the field, earn while the crowd plays XYZ is more than just a benchwarmer in the meme coin game; it’s creating the ultimate playing field with XYZVerse, where the thrill of sports meets the energy of meme culture. With a roadmap equipped with entertainment dApps, prediction markets, and sports betting options, XYZ is poised to draw in millions of gamblers ready to join the action. Remember Polymarket’s massive $1 billion trading volume during the US election betting fever? XYZ is gearing up for an even bigger win in the GameFi arena, letting its stakeholders cash in on the perfect combo of meme coin vibes, sports hype, and crypto mass adoption. Missed meme coin supercycle? By capitalizing on the ever-expanding gambling niche, XYZ is set to become the G.O.A.T of meme coins. BOME’s 5,000% takeoff and WIF’s 1,000% year-to-date rally are now relics of the past because XYZ is set to explode by over 9,900% after the TGE and outshine its sensational predecessors. Get in the game early to secure your spot – currently undervalued, XYZ is going the distance to break new records! Rallying the community, securing the win XYZVerse will be the MVP in this bull run, giving the community the control to call the plays and steer the ecosystem’s direction. Active contributors will receive airdropped XYZ tokens as a reward for their dedication. With rock-solid tokenomics and plans for both CEX/DEX listings, XYZ is positioned for a championship run, ensuring a steady revenue flow and consistent token burns to keep the scoreboard in favor of a strong price and a thriving community. >>The XYZ presale is live – don’t miss out on this knockout 99,900% opportunity!<< Avalanche (AVAX) Avalanche, recognized by its native token AVAX, is turning heads in the blockchain community. It’s a Layer-1 platform that’s not only eco-friendly but also boasts incredibly low fees. With the ability to process 4,500 transactions per second, Avalanche offers rapid transaction speeds that outpace many competitors. A standout feature is its support for customizable Subnets, allowing users to launch their own tailored blockchains within the ecosystem. This flexibility opens doors for developers to create applications that suit their specific needs without building from scratch. The technology powering Avalanche is a hybrid consensus mechanism that blends classical and Nakamoto principles. This unique approach ensures transactions reach finality in less than two seconds. The platform is built on three interoperable chains—X-Chain, C-Chain, and P-Chain—each designed to handle different tasks like facilitating transactions and executing smart contracts. AVAX isn’t just another cryptocurrency; it’s integral to the network’s functionality. It handles transaction fees, secures the network through staking, and enables the operation of multiple Subnets. In the current market cycle, Avalanche’s combination of speed, eco-friendliness, and developer-centric features positions it as a compelling option amid a crowded crypto landscape. Conclusion AVAX and others are strong tokens, but XYZVerse (XYZ) could outpace them, aiming for massive growth with its unique mix of sports and meme culture. You can find more information about XYZVersus (XYZ) here: Site, Telegram, X Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

One of the world’s leading Web3 social metaverse platforms ZTX is expanding its reach into the crypto meme world through a strategic partnership with STIX, which is a Web3 platform for meme promotion and prediction. Through this alliance, the companies want to leverage STIX’s engagement with diverse memecoin communities to build new avenues for content creation and interaction in ZTX’s metaverse. The partnership underscores ZTX’s commitment to connecting communities through dynamic, memecoin-themed experiences within the metaverse, introducing exclusive 3D NFTs and wearable assets that celebrate popular meme culture. The Role of Memecoins in the ZTX Metaverse Memecoins, including tokens linked to popular online memes, have gained substantial traction in recent years, blending humor, internet culture and crypto investing. ZTX, which previously sold out collections featuring iconic meme characters like GigaChad and Pepe, is now expanding this concept further with STIX. The collaboration enables ZTX to utilize STIX’s memecoin insights and community connections to design unique NFTs and in-game items that align with the most current meme trends. By sourcing memes directly from STIX’s platform, ZTX plans to foster a new level of customization and community involvement, bridging its virtual world with trending internet culture. STIX recently completed an Early Access Tournament involving notable crypto communities, debuting an AI meme generator tool to bolster its content creation capabilities. With the official STIX product and token launches on the horizon, this partnership is positioned to elevate ZTX’s offering, making it a hub for both Web3 enthusiasts and meme aficionados. Through STIX, ZTX will gain direct exposure to communities that drive the memecoin phenomenon, setting the stage for ZTX to enhance its NFT offerings while expanding the memecoin market’s reach. Bridging Web2 and Web3 through Memecoins and New User Experiences ZTX’s upcoming mobile application, designed to appeal to both crypto natives and newcomers, is central to the platform’s expansion strategy. The mobile app will allow ZTX to bridge Web2 audiences—such as users of ZEPETO, a popular avatar-based social app—with the culture of crypto and memecoins. By presenting memecoins as easily understandable digital assets, ZTX aims to foster interest among new users who may be curious about crypto but unsure where to start. Beyond simply onboarding new users, ZTX is exploring various ways to deliver value to its community, including $ZTX token holders and Genesis NFT owners, by integrating memecoin-themed assets. Through collaborations like STIX, the platform envisions creating a seamless, interactive way for users to express their digital identities and memecoin allegiances. The ability to “flex” one’s affiliation with popular memecoins within a 3D social environment taps into a unique form of self-expression in the digital world, offering Web3 users a fresh and immersive experience.

Major crypto investors are focusing on a new token priced at just $0.0005. This low-cost asset is generating buzz for its potential to surpass recent market favorites. Without using the same words as the title, it’s clear that significant interest is building around this coin. Observers are watching closely as it shows signs of notable growth. XYZVerse (XYZ), the first all-sport memecoin, is uniting fans across various sports and aiming to make a substantial impact, drawing comparisons to successful tokens like PEPE. Score Big with XYZ: The New Meme Coin Heavyweight The fans are losing it! The XYZ token is in the crypto ring, landing blows on the competition – bullshit coins, worthless farming schemes, and scam projects. Like a true champ, this first-ever all-sports meme token has fought its way through the bear market with fearless momentum and shows no signs of slowing down. With eyes set on a roaring thousand-fold growth, XYZ is destined to leave the 2024 meme coin triumphants like BOME and WIF trailing in its wake. Own the field, earn while the crowd plays XYZ is more than just a benchwarmer in the meme coin game; it’s creating the ultimate playing field with XYZVerse, where the thrill of sports meets the energy of meme culture. With a roadmap equipped with entertainment dApps, prediction markets, and sports betting options, XYZ is poised to draw in millions of gamblers ready to join the action. Remember Polymarket’s massive $1 billion trading volume during the US election betting fever? XYZ is gearing up for an even bigger win in the GameFi arena, letting its stakeholders cash in on the perfect combo of meme coin vibes, sports hype, and crypto mass adoption. Missed meme coin supercycle? By capitalizing on the ever-expanding gambling niche, XYZ is set to become the G.O.A.T of meme coins. BOME’s 5,000% takeoff and WIF’s 1,000% year-to-date rally are now relics of the past because XYZ is set to explode by over 9,900% after the TGE and outshine its sensational predecessors. Get in the game early to secure your spot – currently undervalued, XYZ is going the distance to break new records! Rallying the community, securing the win XYZVerse will be the MVP in this bull run, giving the community the control to call the plays and steer the ecosystem’s direction. Active contributors will receive airdropped XYZ tokens as a reward for their dedication. With rock-solid tokenomics and plans for both CEX/DEX listings, XYZ is positioned for a championship run, ensuring a steady revenue flow and consistent token burns to keep the scoreboard in favor of a strong price and a thriving community. >>The XYZ presale is live – don’t miss out on this knockout 99,900% opportunity!<< Pepe (PEPE) PEPE is a deflationary memecoin launched on Ethereum as a tribute to Pepe the Frog, a meme created by Matt Furie that gained fame in the early 2000s. Aiming to ride the popularity of coins like Dogecoin and Shiba Inu, PEPE stands out with its no-tax policy and embraces its role as a simple, utility-free memecoin. This straightforward approach, tied to a beloved internet icon, has attracted a strong following in the crypto community. In April and May 2023, PEPE experienced an explosive surge, with its market cap soaring to $1.6 billion and turning early investors into millionaires. This boom sparked what’s being called a “memecoin season,” where new meme-based tokens see dramatic price swings. PEPE’s roadmap is ambitious, featuring listings on major exchanges and a planned “meme takeover.” While the crypto market is unpredictable, PEPE’s rapid rise and dedicated community make it an intriguing option in today’s market. As the next Bitcoin halving approaches, many hope for a bull run, and PEPE could be poised to benefit alongside other popular memecoins. Conclusion While tokens like PEPE have soared, XYZVerse ($XYZ) aims to surpass them by uniting sports fans in a community-driven memecoin targeting massive growth and cultural impact. You can find more information about XYZVersus (XYZ) here: Site, Telegram, X Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

XRP price is slowly moving higher above the $0.6320 support zone. The price tested the $0.7450 zone and is currently correcting gains. XRP price started a decent increase above the $0.6320 resistance. The price is now trading above $0.6450 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.6280 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $0.6160 support zone. XRP Price Eyes More Upsides XRP price remained supported above the $0.600 level. It formed a base and started a fresh increase above $0.6200. It outperformed Bitcoin and Ethereum in the past two sessions, with a move above the $0.6320 resistance. The price even climbed above the $0.7320 level before the bears appeared. A high was formed at $0.7488 before there was a pullback. The price dipped below $0.7200 and tested $0.700. It tested the 50% Fib retracement level of the upward move from the $0.6419 swing low to the $0.7488 high. The price is now trading above $0.6320 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.6280 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $0.7220 level. The first major resistance is near the $0.7480 level. The next key resistance could be $0.7550. A clear move above the $0.7550 resistance might send the price toward the $0.7780 resistance. Any more gains might send the price toward the $0.7950 resistance or even $0.800 in the near term. The next major hurdle might be $0.8220. Another Drop? If XRP fails to clear the $0.7220 resistance zone, it could start another decline. Initial support on the downside is near the $0.6820 level. The next major support is near the $0.6670 level and the 76.4% Fib retracement level of the upward move from the $0.6419 swing low to the $0.7488 high. If there is a downside break and a close below the $0.6670 level, the price might continue to decline toward the $0.6160 support in the near term. The next major support sits near the $0.600 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.6820 and $0.6670. Major Resistance Levels – $0.7220 and $0.7450.

The Special Cell of the Delhi Police managed to capture SK Masud Alam, a resident of West Bengal. The chargesheet states that Alam had an account on WazirX made under the name Souvik Mondal. The arrest of SK Masud Alam, a resident of West Bengal, by the Delhi Police in relation to the ₹2,000 crore hack on cryptocurrency exchange WazirX is a significant development. Allegedly, Alam used a phony account to launch the assault, which sought to compromise both the hot and cold wallets of WazirX. This hack brought to light security flaws in digital asset exchanges and was one of the biggest in the crypto industry. The Special Cell of the Delhi Police, acting on an investigation spearheaded by the Intelligence Fusion and Strategic Operations (IFSO) division, managed to capture Alam, a native of East Midnapore in West Bengal. The chargesheet states that Alam had an account on WazirX made under the name Souvik Mondal, which he then sold to M. Hasan using Telegram. The cyberattack was subsequently conducted using this account. Because of their suspicion that Alam is involved with a broader network of cybercriminals, the police have not stopped investigating his links. Liminal Custody’s Cooperation in Enquiry Another point brought up in the chargesheet is the supposed lack of cooperation by Liminal Custody, the company in charge of protecting WazirX’s digital wallets. There are issues over Liminal Custody’s security measures due to the fact that, despite many notifications from the Delhi Police, the facility allegedly did not give vital information required for the inquiry. Police have noted that Liminal’s participation would be addressed in a supplemental chargesheet; nonetheless, the lack of cooperation has further hindered attempts to identify the entire breadth of the hack. The Delhi Police confiscated three computers belonging to WazirX, which were used by authorized signatories to approve transactions using multi-sig wallets, during the inquiry. The authorities have also verified that WazirX has been quite cooperative with the inquiry, yielding crucial information including KYC records and transaction logs that would be useful in tracing the stolen funds. Users are unable to withdraw funds and are stuck in a limbo post the hack, with legal remedies not yielding any positive results. However, with this latest development, hopefully, the funds will be recovered, offering huge relief to the WazirX users. Highlighted Crypto News Today: Bitcoin Hits New All-Time High Amid Ongoing Bullish Momentum

In terms of market capitalization, Bitcoin is currently larger than Saudi Aramco, the oil giant. Some predict that Bitcoin’s price will reach $100,000 by the month’s end. Before dropping to $90,256 on Wednesday, Bitcoin surged to a new all-time high over $91,000. Since Trump’s victory in last week’s US presidential election, the flagship cryptocurrency has soared, setting new records. In terms of market capitalization, Bitcoin is currently larger than Saudi Aramco, the oil giant. Trump promised throughout his campaign to turn America into the “bitcoin and cryptocurrency capital of the world,” as per the agency report. A combination of macroeconomic fundamentals and new governmental initiatives is what market watchers say is driving this spike. Investors’ focus has shifted to alternative assets such as Bitcoin after the 25 basis points rate decrease by the U.S. Federal Reserve in November. Institutional Adoption on the Rise Among its competitors, the BlackRock Bitcoin ETF (IBIT) has been doing well, having received $778 million on Tuesday and roughly $3 billion in the previous seven days. Additionally, it has played a significant role in the $30 billion in trading volumes of the ‘Bitcoin Industrial Complex,’ which includes Bitcoin ETFs and equities such as COIN, MSTR, etc. With such a large influx of new investors, some predict that Bitcoin’s price would reach $100,000 by the month’s end. According to statistics from Farside Investors, IBIT is roughly three times larger than its direct rival, Fidelity’s FBTC, because of its quick development. In the wake of Trump’s triumph last week, institutional investors have flocked to purchase Bitcoin in anticipation of a massive gain, as shown by the recent inflows into IBIT and the recent ATH attained by the flagship cryptocurrency. At the time of writing, Bitcoin is trading at $90,256, up 1.05% in the last 24 hours as per data from CMC. Highlighted Crypto News Today: Trump Appoints Elon Musk and Vivek Ramaswamy to Lead DOGE

Zero Gravity Labs (0G Labs or 0GL), a core contributor developing the software that will power the world’s first decentralized AI Operating System (dAIOS), has reached a fundraising milestone by raising $40 million from leading venture capitalists, following a $35 million pre-seed round earlier this year. Additionally, $250 million has been secured in a liquid line/token purchase commitment from the 0G Foundation, the independent long-term governance foundation for the 0G Protocol. This strengthens 0G’s standing as a top decentralized AI ecosystem by bringing the total committed funds throughout the ecosystem to $325M. Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Yat Siu and Animoca, Stanford Blockchain Fund, Awaken Finance, Dao5, Coinbureau, Santiago, Alchemy, Gumi, No Limits Holdings, Alumni Ventures, Master Ventures, Longhash, IBC, Polygon and Sandeep Nailwal, Deadalus, NGC, Nounce, Kudasai, Blockdaemon, Adrian Cheng, Foresight, and Hack VC’s LPs Blue Pool Capital, Bolts, Orange Dao, and Alliance Dao were among the participants in the rounds. The decentralized ecosystem of 0G has over 200 backers, including well-known AI investors like Abstract VC, Joanne Chen, Ed Roman, Emad Mostaque, and LifeX. This wide range of investors highlights the meticulous selection procedure and dedication to decentralization. The Foundation will be able to access any liquid digital assets kept on top exchanges at over-the-counter (OTC) pricing thanks to the liquid line. The Foundation may use the money to promote ecosystem development and project development as needed. Michael Heinrich, co-founder and CEO of Zero Gravity Labs (0GL), said: Ed Roman, Managing Partner at Hack VC, said: dAIOS will function at the nexus of web3 and artificial intelligence as the first decentralized AI operating system in history. With limitless scalability and no bottlenecks, 0G’s solution will be tailored for data availability, guaranteeing easily available and effectively managed data for AI operations. With a throughput of up to 50 GB/second, dAIOS will provide a decentralized, safe environment for large datasets. Real-time AI computation will be supported directly onchain via an inference layer, providing quicker insights without requiring off-chain processing. Growing worries about data privacy, security breaches, and the monopolization of AI technology have strengthened the demand for decentralized AI solutions. By offering an infrastructure that enables AI applications to operate safely and openly onchain, 0GL’s decentralized AI Operating System seeks to solve these problems. With funding secured, 0GL plans to accelerate the development of its projects within the 0G ecosystem, add top-tier AI research and blockchain engineering specialists to its team, and collaborate with top academic institutions and business titans to create collaborative opportunities that will propel decentralized AI forward. The goal of the 0G Foundation is to foster a community of developers that share its vision, including 0GL and other ecosystem members.

Linea Association will steer Linea’s growth, development, and governance. LINEA token is set to launch by the end of Q1 2025. Ethereum zkEVM L2 network Linea, incubated by ConsenSys, has announced the launch of the Linea Association, an independent Swiss non-profit to oversee its development and governance as part of its decentralization roadmap. The organization also revealed plans for the LINEA token launch by the end of Q1 2025. Nicolas Liochon, Founder of Linea and member of the Board of the Linea Association, stated: The Association focuses on advancing Linea Mainnet development, promoting decentralization, and enabling developers to build decentralized apps (dApps), especially via MetaMask. Also, it aims to build engaged communities and help users manage onchain data, including their digital identity and assets. Advancing Decentralization Via Linea Association and LINEA Token Notably, the organization will be led and governed by a ‘multi-layered’ structure that includes a board of directors, a general assembly, employees reporting to an Executive Director, and a token governance body. Importantly, it would operate independently from its parent, Consensys. Joseph Lubin, CEO of Consensys, said: Moreover, Lubin emphasized that decentralizing governance, infrastructure, and community empowerment will foster a ‘resilient and transparent Web3. The Linea Association, with tokenholder governance as its primary focus, has scheduled the token generation event (TGE) for the LINEA token by the end of Q1 2025. Initially, the token will grant governance rights to holders, with plans to expand its utility later, as per the official blog. It has not yet revealed details on the tokenomics and utility. However, it is expected to share this information before the TGE.

On-chain data shows the XRP Network Value to Transactions (NVT) Ratio has seen some spikes recently. Here’s what it means for the asset. XRP NVT Ratio Reached A High Of 1,162 Earlier In The Month In a CryptoQuant Quicktake post, analyst Maartunn has discussed about how the latest trend in the NVT Ratio of XRP has been like. The “NVT Ratio” here refers to an indicator that keeps track of the ratio between the market cap of the asset and its transaction volume (both in USD). When the value of this metric is high, it means the value of the network (represented by its market cap) is high compared to its ability to transact coins (measured by its volume). Such a trend could imply the asset may be overvalued. On the other hand, the indicator being low suggests the market cap isn’t inflated when compared to the transaction volume, so the asset’s price could be due a rebound to the upside. Now, here is a chart that shows the trend in the XRP NVT Ratio over the last few years: As displayed in the above graph, the XRP NVT Ratio has witnessed some spikes recently, with a particularly large one having come on the 2nd of this month. These recent highs in the indicator would imply the market cap of the coin isn’t being justified by its volume. Over the last week, the asset has registered a jump of more than 25% in its price, but if volume doesn’t catch up soon, it’s possible that the rally would run out of steam before long. Something else that could be a danger to the XRP run is an excess of Fear Of Missing Out (FOMO) developing among the investors. According to data from the analytics firm Santiment, a couple of FOMO indicators related to the the asset have seen a surge recently. The metrics in question are the Binance Funding Rate and the Social Dominance. The former of these keeps track of the ratio between the long and short positions present on the cryptocurrency exchange Binance, while the latter measures the percentage of social media discussions related to the top 100 cryptocurrencies that XRP alone is contributing. Below is the chart shared by the analytics firm that shows how these metrics have changed for the coin recently. From the graph, it’s apparent that traders on Binance have opened a massive amount of long positions alongside the price surge as the Funding Rate has turned highly positive. The Social Dominance has also seen an uplift of its own, with XRP-related discussions making up for more than 4% of social media discussions around the cryptocurrency sector. Both of these can point to the presence of excessive hype in the market, which is something that has historically led to a top for the asset. XRP Price XRP had surged to a high of $0.74 yesterday, but it appears the coin has seen a pullback since then as its price is now floating around $0.67.