Dan Gallagher, Robinhood’s CLO and former SEC commissioner, is seen as the top candidate for the next SEC Chair. Hester Peirce, known as crypto mom, is a popular choice but has stated she’s not interested in the SEC Chair role. With Donald Trump’s recent U.S. presidential win, the global crypto community is buzzing with expectations over the next Securities and Exchange Commission (SEC). In the July campaign, Trump promised crypto supporters that he would fire the current SEC chair, Gary Gensler, “on day one” of his presidency. Gensler, known for his strict regulatory approach to digital assets, replaced him with someone more favorable to the industry. Now, attention has turned to who will lead the SEC, with former SEC commissioner Dan Gallagher becoming visible as the frontrunner. According to a recent Reuters report, Trump’s team is considering Gallagher, Robinhood’s current chief legal and compliance officer, as a potential replacement. Gallagher served as a Republican SEC commissioner from 2011 to 2015 and is reportedly a favorite among crypto industry leaders. These executives contributed significantly to Trump’s campaign, hopeful that a new SEC chair might bring a lighter regulatory touch to digital assets. SEC Chair Contenders and Crypto Industry Expectations Recently, Gensler, who has led the SEC with a “regulation by enforcement” strategy, has faced criticism from many in the crypto space. However, his term is set to end in 2026, and he has reportedly indicated he would step down when the new administration begins. Though Gallagher is a top contender, the Trump transition team is preparing a shortlist of candidates for each financial regulatory agency. Another name that has come up is former SEC Commissioner Paul Atkins, who worked on Trump’s 2016 transition team. Additionally, Mark Uyeda, an SEC Commissioner, is also under consideration. However, Hester Peirce, a current SEC Commissioner known as “Crypto Mom” for her pro-crypto stance, has hinted she is not interested in the role despite her popularity within the crypto industry. As the transition unfolds, crypto enthusiasts await further developments, hopeful that the 47th President Trump’s new SEC appointee will usher in a more supportive era for the industry. Highlighted Crypto News Today BlockTower Capital Makes DeFi Token Purchases In the Last 12 Hours

Crypto analysts said that Bitcoin remains on course for a massive price hike after Donald Trump reclaimed the US presidency through a historic win against US Vice President Kamala Harris. Bitcoin’s price trajectory has been the subject of many speculations in the last few weeks but with the election of a known pro-crypto candidate, it seems BTC is moving in the upward direction. At the time of writing, BItcoin was trading at $76,033, up 1.7% and 9.5% in the daily and weekly timeframes, data from Coingecko shows. The figure marks bitcoin new all-time high. Bitcoin: $85,000 Feasible? A prominent crypto analyst suggested that Bitcoin will soon reach $85,000, claiming that the price surge will be fueled by Trump’s return to the White House. In a post, Ali Martinez said that the firstborn cryptocurrency is “playing as predicted.” Martinez predicted that Bitcoin would hit $78,000 but would fall to $71,500 before soaring to an all-time high of $85,000. Martinez assured that despite the coin experiencing brief pullbacks, BTC’s price trajectory remains on track, noting the coin’s price stabilized at $74,812 after reaching an all-time record of $76,493. In an earlier post, Martinez has already stated that Bitcoin is “going according to plan.” He said that BTC will increase to $72,000, and then go down to $69,000 before skyrocketing to $78,000. BTC’s Uptrend Another market observer predicted that there is a high likelihood that Bitcoin will increase by 30% to 40% but he does not see that the crypto will repeat the 368% hike which occurred in previous cycles. Ki Young Ju of CryptoQuant made the prediction after BTC hit $75,000 which he believed was influenced greatly by the results of the US election. Ju explained that it triggered the price rally to reach that level, further positioning Bitcoin as one of the largest financial assets in terms of market capitalization. Ju urged investors for subtle profit-taking during the “max pain” phases which are essential to understand the market dynamics of BTC. He said that Bitcoin follows a cyclical nature, explaining that new traders usually endure losses when the market is bearish. After two years, investors see their digital assets change hands when the “max pain” phase dies down. According to him, BTC’s current market environment matched well with an easing period. Potential Cooling Off However, some analysts projected a possible cooling off for BTC coming after the recent price hike, saying that it has breached the upper Bollinger Band serving as a cue for overbought conditions. They suggested that there could be increasing pressure to sell and profit-taking because of the emergence of red candlestick formations. BTC used to be in the overbought zone or a score above 70 in the Relative Strength Index (RSI) chart but now, it has retreated to 67.34, indicating “a loss of bullish momentum” and a potential price correction. Featured image from StormGain, chart from TradingView

BlockTower Capital’s crypto investments’ current valuation is $16.3 million. Uniswap (UNI) is the dominant DeFi token in the firm’s portfolio. Crypto investment firm BlockTower Capital reportedly purchased $7 million in prominent DeFi tokens from various crypto trading platforms in the last 12 hours, as tracked by blockchain analytics platform Lookonchain. As Lookonchain reports, the firm’s acquisitions focused on two major tokens — Uniswap (UNI) and Aave (AAVE). Based on etherscan data, it acquired 489,791 UNI, valued at $4.35 million, and 15,578 AAVE, worth $2.86 million, from 5 different trading platforms. Data revealed that BlockTower Capital bought 252,396 UNI and 3,256 AAVE from trading firm Wintermute, alongside 227,632 UNI from crypto brokerage FalconX. The firm also acquired 2,356 UNI and 12,322 AAVE from crypto market maker Cumberland, in addition to 2,356 UNI from Galaxy Digital and 5,051 UNI from B2C2 Group. Earlier in October, BlockTower executed a major EIGEN accumulation move. As per Lookonchain data, the firm traded Maker (MKR) for 653K EIGEN tokens. The current valuation of its crypto portfolio exceeds $16.35 million. Over the last 24 hours, these two DeFi tokens experienced bearish dips. At press time, UNI traded at $8.73 following a 2.2% drop. Meanwhile, AAVE was priced at $179.15 after 2.29%. Brief History of BlockTower Capital Since its founding in 2017, this crypto investment firm has supported several significant players in the industry, including Dapper Labs, Sky Mavis, Solana, Injective, and Synthetix. In 2024, it added Aptos Labs, Morpho, Centrifuge, and Midas to its portfolio. On the flip side, BlockTower has also experienced critical security breaches. In May 2024, its main hedge fund was compromised. The amount drained during this breach was not disclosed to the public, nor was the attacker apprehended. Before this, in February 2023, the firm suffered a $1.55 million exploit, losing TrueFi tokens. Highlighted Crypto News Today Coinbase Launches Wrapped BTC on Solana Aiming to Enhance Access

An analyst has pointed out how this price level could end up being the next destination of Dogecoin based on a Descending Triangle pattern. Dogecoin Is Moving Inside A Descending Triangle Right Now In a new post on X, analyst Ali Martinez has talked about a pattern that has recently been forming in the price of Dogecoin. The pattern in question is the “Descending Triangle” from technical analysis (TA), which, as its name suggests, looks like a triangle slopped downwards. The pattern involves two lines between which the price of the asset consolidates: an upper one with a negative slope and a lower one parallel to the time axis. The former is likely to provide resistance to the coin, while the latter can be a point of support. Like other consolidation patterns in TA, a break out of either of these levels can imply a continuation of the trend in that direction. That is, a surge above the triangle can imply a bullish outcome, while a drop under it may lead to bearish action. There are also other triangle patterns in TA that work similarly to the Descending Triangle, with the most prominent example being the Ascending Triangle, which has only one difference: it points up rather than down. Now, here is the chart shared by the analyst that displays the Descending Triangle that Dogecoin has been moving inside recently: As is visible in the above graph, Dogecoin just recently made a retest of the bottom level of the triangle and successfully found support at it. The memecoin is now on its way up, with a potential retest of the top level to follow. Given the current trajectory of the coin, it might meet the upper line at around $0.198. The coin has already found resistance at the line a few times now, so it’s possible another rejection could take place. In the scenario that a break does happen, however, Dogecoin could end up seeing a notable rise. “Breaking above the $0.198 resistance could spark a 10% move up to $0.220!” notes Martinez. From the current spot price, a run to this $0.220 target would imply growth of more than 15% for the cryptocurrency. It now remains to be seen how DOGE develops in the coming days and if this Descending Triangle pattern would have any effect on its trajectory. DOGE Price Dogecoin enjoyed a sharp rally yesterday as the US presidential elections ended in a win for Donald Trump. At the peak of this surge, the coin approached the $0.220 level, but its price has seen a pullback today as it’s now back under $0.192. Below is a chart that shows how the price of meme coin has developed over the last few days.

Jack Dorsey’s Block shifts focus to Bitcoin mining hardware. Q3 revenue of Block falls short at $5.98 billion in revenue. Jack Dorsey’s payment venture, Block, formerly Square, is making strides in its commitment to Bitcoin mining and its self-custody wallet, Bitkey. In its Q3 2024 shareholder letter, the firm mentioned the demand for its mining initiative, described as having a “strong product market fit.” This announcement was followed by Trump winning the U.S. presidential election. In light of his promise to provide a more crypto-friendly environment in the U.S. during his election campaign. Bitcoin mining is one of the industries he pledged to support. Besides, the firm has been focusing on building a decentralized Bitcoin mining ecosystem, having completed the design of a 3-nanometer mining chip earlier this year. A partnership with Core Scientific was also announced to supply bitcoin mining hardware, further scaling the efforts. Jack Dorsey’s Block restructuring comprised winding down its decentralized internet project, Web5, and scaling back investments in its music streaming service, Tidal. These cuts come after several layoffs across both divisions, reflecting a shift toward more profitable ventures, including crypto-focused initiatives. Notably, Tidal was acquired for $300 million in 2021. It has struggled to meet its growth expectations, persuading the Block to reallocate resources to Bitcoin initiatives. Financial Performance In addition to its shareholder letter, Block reported its third-quarter financial results, with $5.98 billion in revenue. It falls short of analysts’ estimate of $6.24 billion. Moreover, its stock initially plunged around 10% in after-hours trading on Thursday. For Q3, Jack Dorsey’s Block reported $2.25 billion in gross profit, up by 19% from a year ago. With a gross profit of $1.31 billion, Block’s Cash App businesses recorded a significant 21% increase compared to the same period last year. Simultaneously, the monthly active users of Cash App Card have increased by 11% to more than 24 million. Furthermore, Cash App’s gross profit per monthly transacting active was $75, compared to $65 in the previous year. Highlighted Crypto News Coinbase Launches Wrapped BTC on Solana Aiming to Enhance Access

Coinbase has deployed its very first token – cbBTC on the Solana ecosystem. The token is aimed at improving Bitcoin accessibility and enhancing DeFi adoption. The crypto market has progressed further in its bullish movements, with Bitcoin steadying at the $75K level. Meanwhile, the community has begun speculating on new regulatory leadership and other changes that would follow suit after the US elections. Amid this spur of activity, Coinbase has deployed its very first token on Solana. The US-based cryptocurrency exchange announced on X that it has launched a wrapped BTC token – the cbBTC, an SPL token. cbBTC is backed by Bitcoin in a 1:1 ratio, for which the Bitcoins will be held in Coinbase custody, as stated by the exchange. Moreover, the wrapped BTC is currently trading at a price of $76,441, with Coinbase having deployed 135.58 of the cbBTC. Additionally, the digital asset has already seen a transfer volume of $4.04 million, according to Solscan data. Coinbase had announced its plans to launch a wrapped BTC previously during the Breakpoint 2024 event in September. The exchange, through the launch of this new digital asset, discussed plans to improve user accessibility to Bitcoin. How has Coinbase Launched the Wrapped Bitcoin? The crypto exchange plans to enhance the adoption of Bitcoin within the DeFi sector. Some of its partners include Jupiter Exchange, Raydium Protocol, and Phoenix Trade. The digital asset is also deployed in Kamino Finance, which stated that the cbBTC is set to become a flagship asset on Solana. Coinbase recently announced the launch of a new engineering hub in Singapore. This hub is expected to support the local developers’ ecosystem. Furthermore, the crypto exchange drew market attention when it revealed the FDIC’s restricting crypto access in banks. Meanwhile, the crypto exchange is also one among the firms that have been battling regulatory issues through the SEC lawsuit. Recently, on October 29, Coinbase demanded an apology from the SEC for the regulator’s frivolous cases. Highlighted Crypto News Today: Will Bitcoin’s Post-Election Rally Push It to $100K Target?

Bitcoin hit a new all-time high of $76,943, surpassing $75K, signaling strong bullish momentum. A crypto analyst predicts Bitcoin will reach $100K by the end of 2024. Bitcoin (BTC) is back in the spotlight, soaring to new highs following Trump’s election victory effects in the U.S. The market also reacted swiftly, leading Bitcoin to enter the third consecutive day of bullish momentum. Just 10 hours ago, BTC recorded a new all-time high of $76,943, surpassing its previous record of over $75,000 set on November 6. This spike reflects not only positive sentiment around the pro-crypto presidency but also an encouraging legislative move by U.S. Senator Cynthia Lummis. According to the recent report, Senator Lummis unveiled a major plan targeting the Federal Reserve, reiterating the United States’ intention to create a “strategic Bitcoin reserve.” This announcement might trigger the current wave of confidence, propelling BTC’s upward climb. Although BTC’s price briefly dipped after hitting its peak, it currently stands at $76,028 with a market cap of $1.50 trillion, still maintaining a position and a 60% dominance in the crypto market. Bullish Signals Point to $100K by End of 2024 The daily price chart shows a modest 1.17% rise, with Bitcoin fluctuating between $75.6K and $76.3K. However, the market sentiment remains optimistic as Bitcoin’s RSI (Relative Strength Index) sits at 68, nearing an overbought threshold, signaling strong buying momentum. Bitcoin (BTC) Price Chart (Source: TradingView) Adding fuel to the rally, Bitcoin’s short-term 50-day moving average has crossed above the long-term 200-day moving average, forming a “golden crossover”—a” classic signal of potential price breakouts. Further, Bitcoin’s Chaikin Money Flow (CMF) indicator sits at 0.25, a bullish signal that indicates solid buying interest and hints at possible further gains. To validate this, many crypto analysts, including Mister Crypto, Mikybull, and Daan Crypto Trades, believe that BTC could target $100K by the end of 2024, with some community members setting their sights on new market highs within 8 to 12 months. TheNewsCrypto’s Bitcoin price prediction also supports this outlook, suggesting that if current trends continue, BTC’s price could reach $100K before the end of 2024.

The Shiba Inu token has seen a meteoric rise since 2020 when it launched at roughly current levels, soaring up over 1,319,863% as it has emerged as a favorite tether to Dogecoin. However, considering that there are 589 trillion tokens in total supply, the milestone of $0.01 is quite unlikely to come any time soon. Nevertheless, the interest in meme coins and the change in the digital assets domain keep investors hopeful. With a whopping current market capitalization of over $1.5 trillion, the broader cryptocurrency industry has now found itself as a store of value. Blockchain technology’s potential to change the global economy underpins this immense market growth. By creating new channels of integrated finance and asset trading, blockchain technology is actively being explored by investors as an active way to take advantage of new opportunities. Ambitious Cross Asset Trading Platform: DTX Exchange DTX Exchange seeks to change the market by combining stocks, forex, and crypto trading on a single blockchain-integrated platform. Though the global forex market’s daily trading volume is now $6.6 trillion, the market infrastructure is still outdated. DTX Exchange provides over 100,000 trading instruments on one platform and wants to simplify access for retail investors with blockchain integration. DTX Exchange aims to simplify trading globally by allowing users to trade across asset classes (stocks, cryptos, ETFs). Its goal is to boost liquidity, increase openness, and simplify the retail trader’s journey to trade in multiple markets. This approach has sparked interest, as many think DTX Exchange could completely shift trading and move cross-asset trading innovation forward. Expected to be the next phase for the DTX Exchange, its live trading features are set for a November launch. Sitting on passive yield opportunities for holders and revenue through trading fees, the rollout will occur. This has already made DTX Exchange a likely game changer in the blockchain-powered trading space. Phoenix Wallet and VulcanX Blockchain Secure the Ecosystem Recently, DTX Exchange has introduced the Phoenix Wallet, a non custodial digital wallet for security of asset management. Crypto assets — encompassing the first version of the wallet — will be supported by the wallet; plans to add stocks and forex assets in the future. Compared to traditional custodial protocols, this noncustodial solution increases ownership and less dependency on centralized parties, which is consistent with blockchain’s distributed culture. The way that DTX Exchange works is that it runs on VulcanX blockchain, which is a Dedicated Proof of Stake (DPoS) system for both traditional and digital assets. Looking further, the mainnet was scheduled to launch in early 2025 after the testnet was launched, further anchoring DTX’s establishment of asset custody and trading. The combination of Phoenix Wallet and VulcanX makes a secure place for the management of numerous assets appealing to many traders. DTX Exchange has funded its growth by choosing to skip over traditional venture capital and go with a community-driven presale, raising $6.3 million from 120,000 investors. The widespread funding through this approach has also helped build community trust and speed up its growth. Regulatory Push and Market Momentum for DTX Exchange DTX Exchange has filed for regulatory licenses in 50 different regions to operate as a compliant global trading platform. These regulatory efforts send the signal that DTX Exchange is trustworthy and transparent in the financial markets. TX’s visibility has been greatly increased by its listing on CoinMarketCap, which gives traders access to data and updates on DTX activities. In line with the exchange’s vision to establish a robust and trustworthy platform for cross-asset trading, the exchange is working on regulatory assurance efforts. As the presale comes to a successful conclusion and the exchange gets ready for full launch, DTX Exchange has nearly $6.3 million in funds that show it is ready for some serious momentum throughout its platform. The platform’s community governance model, which positions holders as voters and holders, adds to the powers invested in the platform by investors. Conclusion Shiba Inu’s journey toward the $0.01 milestone remains uncertain, but platforms like DTX Exchange illustrate the transformative power of blockchain in modern finance. By combining crypto, stocks, and forex on one platform, DTX is redefining accessibility in asset trading. As DTX Exchange approaches its official launch, investors are watching closely, viewing it as a critical step in blockchain-driven financial innovation. Learn more: Buy Presale Visit DTX Website Join The DTX Community Whitepaper 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.

As the U.S. election approaches, new changes are expected in the cryptocurrency market, and investors are keen on them. Political events have influenced financial markets, and consequently, digital assets are likely to see the same. With ongoing growth from projects like IntelMarkets and IntelMarkets and recent public appearances from Binance’s former CEO Changpeng Zhao (CZ), the market remains active, signaling potential opportunities for investors looking to capitalize on upcoming shifts. INTEL Markets Gains Momentum with Phoenix Wallet Launch Intel Markets recently completed a significant milestone by raising over $6.1 million during its presale, now in the fourth round, priced at $0.08 per INTL token. Following the launch of its Phoenix Wallet, INTL experienced a substantial 40% growth, drawing the attention of investors and market analysts alike. The Phoenix Wallet allows users to seamlessly trade, borrow, and send cryptocurrencies, enhancing user experience and attracting new participants. Aiming to provide trading capabilities for various types of assets in traditional and DeFi environments, IntelMarkets is built on the combination of centralized and decentralized exchange models. The platform has the functionality for leveraged trading of up to 1,000x and more than 120,000 assets, distinguishing it from other trading platforms. Notably, the platform’s decentralized order book offers transparency and liquidity, a draw for traders seeking control over their transactions. As the U.S. election approaches, regulatory clarity on digital assets may also shape the crypto landscape. Clear regulatory frameworks could impact user adoption and growth for platforms like INTL, which offer high leverage. The recent Phoenix Wallet release positions INTL to benefit from any potential post-election increase in crypto demand. Binance CZ Discusses Post-Prison Plans and Crypto Future Binance’s former CEO Changpeng Zhao, also known as CZ, recently appeared publicly at Binance Blockchain Week in Dubai after serving a four-month sentence due to anti-money laundering violations. In his first appearance since his release, CZ shared insights on his time away and future ambitions, noting a renewed focus on investing and advancing digital education through his project, Giggle Academy. CZ’s interview touched on his ongoing relationship with Binance and future involvement in the crypto sector. While CZ emphasized a desire to move forward, his appearance sparked renewed interest in Binance and its role in global cryptocurrency markets. As one of the most recognized figures in the industry, his insights are closely watched by investors and market participants who see Binance’s trajectory as influential for the broader market. His continued support for the crypto community reinforces a bullish sentiment, especially as the industry navigates upcoming regulatory and political shifts. CZ’s appearance coincides with heightened anticipation around the U.S. election. Given the potential for new regulatory policies to emerge from the political outcome, Binance and other large platforms could face opportunities and challenges in the months ahead. IntelMarkets’ AI-Powered Platform to Disrupt Crypto Trading As IntelMarkets and Binance headlines, IntelMarkets has also captured market attention with its AI-driven trading platform, designed to empower new and experienced traders. IntelMarkets’ platform leverages an enterprise-grade AI infrastructure on a proprietary L1 blockchain to streamline trade analysis and automate trading processes. This technology is built with the expertise of a high-caliber team, including professionals from MIT, Renaissance Technologies, and OpenAI. IntelMarkets provides a range of features to enhance trading efficiency. These include dual-chain trading on Solana and Ethereum networks, a powerful autopilot trading function, and quantum-proof security measures to protect transactions against potential threats. The platform’s Rodeum AI system is trained on over 100,000 data points to generate real-time trading insights, offering users a customizable and data-driven trading experience. This AI-centric approach differentiates IntelMarkets from other platforms by providing a scalable infrastructure for high-volume trading and rapid market analysis. IntelMarkets is currently in the fourth stage of its presale, with over $1.6 million raised. The platform’s development is timely, with analysts predicting substantial interest as investors seek reliable trading solutions amid potential post-election market volatility. Conclusion The U.S. election is shaping the crypto industry, with candidates Donald Trump and Kamala Harris showing differing views on cryptocurrency. Industry insiders predict clearer regulatory policies following the election, creating a structured landscape for crypto trading platforms. IntelMarkets, Binance, and IntelMarkets, each addressing unique market needs, would benefit from a post-election environment focusing on transparency, security, and accessibility. Discover More About IntelMarkets: Presale: https://intelmarketspresale.com/ Buy Presale: https://buy.intelmarketspresale.com/ Telegram: https://t.me/IntelMarketsOfficial Twitter: https://x.com/intel_markets 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.

Ethereum (ETH) has jumped almost 20% over the past two days as the broader decentralized finance (DeFi) sector rallied following Donald Trump’s presidential victory. Ethereum Begins To Regain Momentum The second-largest cryptocurrency by reported market cap has lagged behind Bitcoin (BTC) and other smart contract platform tokens like Solana (SOL) for much of the year. However, following Trump’s win as Republican US presidential candidate, ETH has witnessed a rise of over 10% since yesterday. The token’s rise has brought attention to one of Ethereum’s most innovative use cases to date – DeFi. In a long-form post on X, Arthur Arthur Cheong & Eugene Yap from crypto investment firm DeFiance Capital noted that total value locked (TVL) in Ethereum-based DeFi protocols is rebounding. While the analysts credit some of this growth to higher crypto asset prices, they also highlight that trading volumes on some DeFi platforms have “nearly recovered to 2022 levels, proving the resurgence is real.” Cheong and Yap outline several factors that indicate the DeFi ecosystem is heading toward the era of “DeFi renaissance.” First, the analysts note that DeFi appears to be emerging from the “trough of disillusionment.” For the uninitiated, disillusionment is a phase in the Gartner Hype Cycle when interest in a technology wanes as initial expectations are unmet. As shown in the chart below, DeFi is moving through the “slope of enlightenment” phase, likely headed for the “plateau of productivity” as the technology matures. Additionally, macroeconomic factors, including a low interest-rate environment, are expected to boost DeFi adoption in two critical ways: reducing opportunity costs and making loans more affordable. With treasury bills and traditional savings accounts offering minimal returns, investors increasingly turn to income-generating DeFi strategies like yield farming, staking, and liquidity mining. Lower interest rates are also likely to increase the supply of stablecoins by making loans cheaper, thereby providing additional liquidity to drive DeFi growth. How Is Trump Presidency Bullish For ETH? The analysis emphasizes that the 2024 US presidential elections can offer DeFi much required regulatory clarity. Trump’s presidency is anticipated to bring more favorable crypto regulations, which could boost investor confidence. Consequently, ETH is expected to benefit from any increase in investor interest in DeFi. Analysis by crypto experts suggests that ETH could rise to $3,400 if it clears certain key resistance levels. There has also been a significant increase in Ethereum whale activity, indicating that sophisticated and seasoned ETH holders are accumulating the token in anticipation of a potential rally. ETH faces stiff competition from rival smart contract platforms such as Solana. According to a recent report, the SOL DeFi ecosystem saw its TVL increase to $5.7 billion in Q3 2024. At press time, ETH trades at $2,806, up 7.1% in the past 24 hours, with a total market cap of $338.6 billion.

Data shows the Bitcoin investor sentiment has entered extreme greed territory following the asset’s surge to a new all-time high (ATH). Bitcoin Fear & Greed Index Is Now Pointing At ‘Extreme Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment among the traders in the Bitcoin and the wider cryptocurrency sectors. This index represents the sentiment as a score between zero and hundred. To calculate the score, the metric uses data from the following five factors: volatility, trading volume, market cap dominance, social media sentiment, and Google Trends. When the indicator’s value is greater than 53, it means the investors share a sentiment of greed right now. On the other hand, the metric being below 47 suggests the market is currently observing fear. Naturally, the index between these two regions implies a net neutral mentality. Besides these three core sentiments, there are two special zones: extreme greed and fear. The former occurs at values above 75, while the latter is under 25. Now, here is what the Bitcoin Fear & Greed Index is like right now: As is visible above, the indicator is at a value of 77, which suggests the traders in the sector are currently holding a sentiment of extreme greed. This is a change from yesterday when the market was still inside the normal greed region. Here is a chart that shows how the index’s value has changed over the past year: Historically, the extreme sentiments have proven significant for Bitcoin, as major price tops and bottoms in the asset have tended to occur inside these zones. Thus, the relationship between sentiment and price has been an inverse one, however, meaning that extreme greed has led to tops, while extreme fear has paved the way for bottoms. From the above graph, it’s apparent that the Fear & Greed Index had surged high into the extreme greed territory when Bitcoin had topped out in the first quarter of this year. It’s possible that, with the market once again becoming too hyped about the cryptocurrency after the latest all-time high (ATH) break, another top could form for BTC. Generally, however, major tops only occur when the index hits particularly high levels. The top above, for instance, took place alongside a value of 88. Thus, it’s possible that sentiment could still have room to heat up, before the rally hits a major obstacle. BTC Price At the time of writing, Bitcoin is floating around $75,900, up 8% over the last seven days.

The recent presidential election has sent ripples through the cryptocurrency market, with Bitcoin prices reacting positively to Donald Trump’s victory over Kamala Harris. As Trump prepares to take office for a second term, his ongoing commitment to making the United States the “crypto capital of the world” has ignited bullish sentiment among investors, positioning Bitcoin at the center of his economic proposals. ‘$13 Million Bitcoin Price Target Is Bearish’ Dennis Porter, CEO and co-founder of the Satoshi Action Fund has been vocal about the implications of Trump’s win for Bitcoin and the broader cryptocurrency landscape. In a series of posts on social media platform X (formerly Twitter), Porter highlighted the potential for Bitcoin to experience significant price discoveries in the coming years. He emphasized that the election outcome signals a substantial shift in the political landscape regarding cryptocurrency. Porter stated that after the 2024 presidential election, it is “abundantly clear” that Bitcoin is a “winning issue,” claiming that opposing Bitcoin support is “political suicide,” with a forecast that the United States will lead on BTC. The Satoshi Act Fund CEO believes that as the global community comes to terms with this reality, a “dramatic” acceleration in Bitcoin adoption will follow. In addition to Trump’s victory, the Republican Party has secured a majority in Congress, further enhancing the prospects for cryptocurrency legislation. Porter noted that over 250 members of Congress are now pro-Bitcoin, which could facilitate a more favorable regulatory environment for the crypto market to thrive. This newfound political support could lead to legislation clarifying regulations and encouraging innovation and investment in the digital asset sector. It could also pave the way for the approval and introduction of one of Trump’s key promises: to make BTC a strategic reserve asset for the country. One of Porter’s most striking comments came just 24 hours after the election when he suggested a forecast of $13 million per Bitcoin could be considered bearish. “Expect the unexpected,” he said, hinting at the possibility of even higher valuations for Bitcoin shortly. Extended Bull Run For BTC? In an update on social media, market expert Rekt Capital provided insights into BTC’s short-term price action. He highlighted the importance of a weekly candle close above $71,500, which could signal the start of a breakout from the current re-accumulation range. Rekt Capital notes that Bitcoin has been in a prolonged re-accumulation phase for over 200 days since the last Halving event, which occurred earlier this year in April. The expert points out that the historical trend suggests bullish sentiment, as Bitcoin’s cycle has dramatically reduced from an average of 260 days to just 13 days in the current post-Halving context. This reduction in cycle duration indicates that Bitcoin is in a slightly accelerated phase compared to previous cycles. However, the current rate of acceleration is not as steep as earlier in the year, particularly in March 2024, suggesting a stabilizing trend. Due to this extended consolidation period, Bitcoin has almost completely realigned with historical Halving cycles. Rekt believes this resynchronization could lead to a longer, more robust bull run than anticipated. In a related analysis, crypto analyst Ali Martinez speculates on the potential timing of the next market peak for Bitcoin. He highlights a historical pattern wherein Bitcoin typically reaches market tops 8 to 12 months after achieving a monthly close above its previous all-time high. Ali Martinez predicts that the next significant market top for the leading crypto could occur between July and November 2025 if this pattern holds. At the time of writing, BTC was trading at $75,100. Featured image from DALL-E, chart from TradingView.com

BNB price struggled to stay above the $600 zone. The price is consolidating gains and might aim for a fresh increase above the $605 level. BNB price started a downside correction from the $612 resistance zone. The price is now trading above $590 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $588 level to start another increase in the near term. BNB Price Holds Support After a close above the $585 level, BNB price extended its increase. However, upsides were limited above $610 and the price remained capped unlike Ethereum and Bitcoin. There was a move below the $605 and $600 levels. The price even dipped below the 23.6% Fib retracement level of the upward move from the $543 swing low to the $611 high. However, the price is now holding gains above the $580 level. The price is now trading above $595 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB/USD pair. If there is a fresh increase, the price could face resistance near the $605 level. The next resistance sits near the $612 level. A clear move above the $612 zone could send the price higher. In the stated case, BNB price could test $620. A close above the $620 resistance might set the pace for a larger move toward the $632 resistance. Any more gains might call for a test of the $650 level in the near term. More Losses? If BNB fails to clear the $605 resistance, it could start another decline. Initial support on the downside is near the $595 level and the trend line. The next major support is near the $578 level or the 50% Fib retracement level of the upward move from the $543 swing low to the $611 high. The main support sits at $570. If there is a downside break below the $570 support, the price could drop toward the $560 support. Any more losses could initiate a larger decline toward the $550 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $595 and $578. Major Resistance Levels – $605 and $612.

XRP price gained pace for a move above the $0.5500 support zone. The price rallied toward $0.5780 resistance and then quickly faded most gains. XRP price is losing pace above the $0.5500 zone. The price is now trading above $0.5320 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it stays above the $0.5250 support zone. XRP Price Eyes More Upsides XRP price remained supported above the $0.5150 level. It formed a base and started a fresh increase above $0.5250 like Bitcoin and Ethereum. There was a move above the $0.5350 and $0.5500 resistance levels. The bulls even pushed the price above the $0.5650 level before the bears appeared. A high is formed at $0.5758 and the price is correcting gains. There was a move below the $0.5650 support. It dipped below the 23.6% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5758 high. The price is now trading above $0.5320 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5360 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5758 high. On the upside, the price might face resistance near the $0.5600 level. The first major resistance is near the $0.5650 level. The next key resistance could be $0.5780. A clear move above the $0.5780 resistance might send the price toward the $0.5880 resistance. Any more gains might send the price toward the $0.5920 resistance or even $0.6000 in the near term. The next major hurdle might be $0.6200. More Losses? If XRP fails to clear the $0.5650 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5450 level. The next major support is near the $0.5360 level and the trend line. If there is a downside break and a close below the $0.5360 level, the price might continue to decline toward the $0.5250 support in the near term. The next major support sits near the $0.5120 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 below the 50 level. Major Support Levels – $0.5450 and $0.5360. Major Resistance Levels – $0.5600 and $0.5650.

Binance, one of the world’s largest crypto exchanges, has achieved a new milestone as its open interest (OI) surged to an all-time high (ATH) of $8.3 billion, according to a report by CryptoQuant analyst Burak Kesmeci. This increase, representing a 10.24% growth over the past 24 hours, emphasizes Binance’s substantial share of global crypto futures positions. The surge in OI also highlights Binance’s influence on market trends, given that it now accounts for roughly 35% of all open futures positions across all exchanges globally. The total OI across exchanges, including Binance, reached $23.3 billion, setting a record in the sector, Kesmeci reveals. Implications Of Binance High Open Interest To understand what the increase in Binance open interest means for the crypto market, it is worth first looking into what the term ‘open interest’ means. Notably, open interest (OI) refers to the total number of outstanding contracts in the futures market, encompassing both long and short positions. A rise in this metric often suggests increased trading activity and interest, making it a crucial indicator for market participants. Kesmeci explained that a significant jump in open interest such as that of Binance—particularly when it exceeds a 3% increase within a 24-hour period—frequently precedes heightened market volatility and potential liquidations. This means that both bullish and bearish positions could come under increased pressure as market dynamics shift, creating potential for major moves across the crypto landscape. The CryptoQuant analyst particularly wrote: BNB’s Price Movement Amid Broader Market Trends Binance’s native token BNB, has also experienced a notable price movement, mirroring the broader uptrend within the crypto market led by Bitcoin’s resurgence. Earlier today, BNB breached the $600 mark, reaching a 24-hour high of $610 before experiencing a slight pullback to $595, at the time of writing. Despite this correction, the asset remains up 2% over the past 24 hours. This price action brings BNB closer to its previous ATH of $717, recorded on June 6 of this year, with the current price reflecting a 17.3% decrease from that peak. Featured image created withe DALL-E, Chart from TradingView

Sao Paulo,, Brazil, November 7th, 2024, Chainwire With 33 million subscribers on YouTube and a big total following across social media, Rezende Evil is stepping into the celebrity meme token scene. Rezende Evil is preparing to introduce a token of their own, joining a growing list of big names. In May, Iggy Azalea launched her token, $MOTHER, which has since reached a market cap of $136 million. As one of the best-performing debut tokens of recent times, $MOTHER has demonstrated the potential for Web2 influencers to succeed in the token space, leveraging both the loyalty of their audiences and the inherently shareable, meme-worthy nature of their brands. Rezende Evil’s forthcoming token, to be launched on the Solana blockchain, follows a fair launch format popularized within the meme token space. By adopting this approach, Rezende Evil aims to leverage their community’s loyalty and engagement, positioning $RZNDE as a new addition to the celebrity meme token scene. The initial market cap of $RZNDE is expected to be $25,000. Comparison Graphic released by Rezende Evil’s Social Media Team. An increasing number of celebrities are capitalizing on the celeb token and meme trend, achieving success as they tap into the momentum of the broader meme token popularity. With loyal communities and strong brands, celebrities have a potential foundation for their tokens to succeed. XCAD, which is the project powering this launch, enhances this trend by adding deeper meaning and utility, enabling fans to engage in token-based transactions that unlock potential experience-based benefits, bridging the Creator and fan relationship in new ways. Twitter: https://x.com/RZNDEToken Telegram: https://t.me/RezendeToken WhatsApp: https://www.whatsapp.com/channel/0029VapCtkI8F2pB6uhPbQ1i Contact Mr Jeff Sa Meme Spotlight [email protected]

SOL reaches $196, marking highest level since July Technical indicators show strong momentum with RSI at 66.87 Price targets $210.03 year-to-date high with key resistance at $193.34 Recent political developments in the United States have triggered significant movement in cryptocurrency markets, particularly affecting Solana’s price trajectory. The digital asset currently demonstrates strong technical positioning as it approaches critical resistance levels. Solana technical analysis and market dynamics Trading activity shows SOL maintaining position above its 20-day exponential moving average, traditionally interpreted as a bullish market signal. This technical formation suggests sustained buying pressure and potential for continued upward momentum as traders respond to broader market catalysts. The Relative Strength Index provides additional confirmation of market strength, registering 66.87 on the scale. This reading indicates robust momentum without entering overbought territory, potentially leaving room for further price appreciation before technical warnings emerge. Source: TradingView Market participants now focus on the crucial $193.34 resistance level, representing the final significant hurdle before SOL can challenge its year-to-date peak of $210.03. Sustained trading volume and continued buying pressure appear necessary for breaking through these key price points. However, market observers note potential risks to this bullish scenario. Any significant decline in buying momentum or increase in profit-taking activity could trigger a retracement below $186.40, with further support levels established around $171.78. The convergence of political developments and technical strength creates an intriguing market dynamic for Solana’s short-term prospects. Trading patterns suggest maintained bullish sentiment while approaching critical price levels that may determine near-term direction.

Ethereum price started a fresh increase above the $2,720 resistance. ETH is up over 10% and now approaches the key barrier at $3,000. Ethereum started a fresh surge above the $2,720 resistance zone. The price is trading above $2,750 and the 100-hourly Simple Moving Average. There is a new connecting bullish trend line forming with support at $2,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,950 resistance. Ethereum Price Extends Its Increase Ethereum price started a fresh increase above the $2,650 resistance like Bitcoin. ETH was able to climb above the $2,720 and $2,750 resistance levels to move further into a positive zone. It even surged above the $2,850 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,920. A high is formed at $2,955 and the price is showing signs of more upsides. It is well above the 23.6% Fib retracement level of the upward move from the $2,355 swing low to the $2,955 high. Ethereum price is now trading above $2,800 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,820 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,920 level. The first major resistance is near the $2,950 level. The main resistance is now forming near $3,000. A clear move above the $3,000 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone. Are Dips Limited In ETH? If Ethereum fails to clear the $2,950 resistance, it could start a downside correction. Initial support on the downside is near the $2,850 level. The first major support sits near the $2,820 zone and the trend line. A clear move below the $2,820 support might push the price toward $2,720. Any more losses might send the price toward the $2,650 support level in the near term. The next key support sits at $2,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,820 Major Resistance Level – $2,950

Bitcoin price is gaining pace above $75,000. BTC is rising and might aim for a move above the $77,000 resistance zone in the near term. Bitcoin started a fresh surge above the $74,500 zone. The price is trading above $74,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $76,200 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price started a fresh increase above the $74,500 level. BTC cleared the $75,000 resistance and traded to a new all-time high. It posted a high at $76,937 and is currently consolidating gains. There was a minor decline below the $76,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. However, the price is still in a positive zone above the $75,000 level. Bitcoin price is now trading above $75,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $76,000 level. The first key resistance is near the $76,200 level. A clear move above the $76,200 resistance might send the price higher. The next key resistance could be $78,000. A close above the $78,000 resistance might initiate more gains. In the stated case, the price could rise and test the $78,800 resistance level. Any more gains might send the price toward the $79,450 resistance level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $76,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $75,450 level and the trend line. The first major support is near the $74,350 level or the 61.8% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. The next support is now near the $73,750 zone. Any more losses might send the price toward the $72,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $75,450, followed by $74,350. Major Resistance Levels – $76,000, and $76,200.

Spark, a decentralized trading protocol, announced the first fully on-chain order book for the Ethereum ecosystem. Launching on Fuel Network, the project aims to provide solutions for some of the limitations in the Decentralized Finance (DeFi) landscape and offer traders fast, secure, and transparent trading with minimized state and reduced storage. Spark Brings First On-Chain Oder Books To The Ethereum Ecosystem Decentralized trading protocol Spark is launching the Ethereum ecosystem’s first fully on-chain order book, seeking to offer traders a “secure, efficient, and decentralized” experience. Per the announcement, the state-minimized order book will move execution fully on-chain to enhance transparency. Moreover, it’s set to reduce data storage and processing needs to ensure faster transactions without compromising security. The Ethereum L2 project aims to address the limitations of Automated Market Makers (AMMS) and Centralized Exchanges (CEXs). Despite being instrumental in DeFi’s growth, AMMs struggle to meet the “advanced demands of institutional traders in high-frequency and algorithmic trading.” Meanwhile, CEXs have been criticized for the lack of transparency and control expected in decentralized systems. The project argues that DeFi needs to use traditional trading mechanisms to attract institutional traders. As a result, Spark will introduce Central Limit Order Books (CLOBs) to tackle these limitations. CLOBs are trading mechanisms used in traditional stock markets to match all bids and offers according to time priority and price. With this implementation, Spark is set to provide better price discovery, faster execution, and deeper liquidity while maintaining security and transparency. Additionally, it seeks to offer “the precision and capabilities necessary for professional and institutional traders.” Vitali Dervoed, Spark’s CEO and co-founder, highlighted the importance of order books for institutional and retail traders who seek accuracy and transparency while controlling their assets: A ‘New Era’ For Decentralized Trading? Launched in October, Fuel is a modular rollup operating system designed for Ethereum. After three weeks, it achieved a Total Value Locked (TVL) of $33.5 million. According to data from DeFiLlama, Fuel saw a 700% TVL increase in one day, followed by a 1200% weekly increase. Spark is one of the first dApps in the Fuel Network. The Ethereum Layer 2 project is powered by Fuel’s modular architecture, aiming to “push DeFi closer to mainstream adoption” with speed, scalability, and interoperability. The projects look to build a “new era for decentralized trading” that unlocks “new possibilities for institutional-grade DeFi” and evolves the Ethereum landscape. Ultimately, Fuel Network’s CEO, Nick Sway, noted Spark’s launch as a vehicle to “push” DeFi boundaries: