The top 3 memecoin gainers are GOAT, NEIRO, and POPCAT (SOL). Bitcoin reached an all-time high of $75,361, driving optimism across the crypto market. The cryptocurrency market is displaying a vibrant surge, fueled by Bitcoin’s recent climb to a new all-time high of $75,361 following optimism sparked by Donald Trump’s victory against Kamala Harris in the presidential race. At the time of writing, the global crypto market cap stands at $2.47 trillion, marking a 7.88% increase in just 24 hours. Bitcoin’s dominance has paved the way for a ripple effect, driving positive sentiment among altcoins, particularly in the memecoin sector. Among the top gainers in the memecoin space are Goatseus Maximus (GOAT), First Neiro on Ethereum (NEIRO), and Popcat (SOL), all of which are soaring with impressive gains. Goatseus Maximus (GOAT) In the past 24 hours, GOAT price rose over 47.04% and topped the gainers list, recording a high of $0.7503. Also, the daily trading volume has seen a significant jump of over 108%, reaching $282. The token now boasts a market cap of $735 million, placing it at the 92nd spot in the crypto rankings. Goatseus Maximus (GOAT) Price Chart (Source: CMC) GOAT is one of the memecoins that was launched on the Solana blockchain in October and gained popularity with a strong following. The memecoin is still 19% below its all-time high of $0.8837. But GOAT has surged by an eye-watering 653% in the last month. Further, the memecoin’s key resistance was found at $0.8095 and the nearby support at $0.4204. First Neiro On Ethereum (NEIRO) Another memecoin catching the market’s attention is First Neiro on Ethereum (NEIRO). That has jumped by 32.70% in the past 24 hours. The price surged from a low of $0.001309 to a high of $0.001764, driven by a massive 248% increase in its trading volume, which reached $740 million. First Neiro On Ethereum (NEIRO) Price Chart (Source: CMC) First Neiro on Ethereum is a meme coin inspired by Shiba Inu, continuing the legacy of Kabosu, the dog behind the original Dogecoin meme. The coin gained attention as it was linked to Neiro, another dog adopted by Kabosu’s owner after her passing. On Oct 15, NEIRO recorded an all-time high of $0.0023, which now seems like a distant memory, as the token is currently 24.53% off that peak. However, the ongoing rally has pushed the price to new highs. Currently, it’s eyeing further resistance levels at $0.001932 and $0.0021, with support found near $0.001278. Popcat (SOL) Last but not least, Popcat (SOL) has joined the surge, rising by 20% to trade at $1.59. The token’s price climbed from a low of $1.28 to a high of $1.60, with its trading volume spiking by 269% to $269 million. The meme coin was launched in December 2023 on the Solana blockchain, inspired by the viral “Popcat” meme. POPCAT (SOL) Price Chart (Source: CMC) POPCAT has gained 14% over the past month. Meanwhile, it has seen a 5% decline over the past week, as it hit an all-time high on Oct 29 at $1.81. The token now faces initial resistance at $1.75, with significant support around $1.12. Highlighted Crypto News Is PEPE on Track to Hit New High Heading into Late 2024?

Ethereum analysts are keeping a close look at the altcoin, which is stuck in a long downtrend. Some call for major upward breakout and others keep a cautious stance, warning to expect this downtrend will continue. Ali Martinez, a crypto analyst, is optimistic about the coin’s price trajectory, stating Ether would hit $10,000 in the coming bull run. Martinez, whose research often links ETH with more general market movements, has compared Ethereum’s rise with that of the S&P 500, suggesting that a similar breakout might be just ahead. Nevertheless, not all individuals are satisfied with this optimistic outlook. Peter Brandt, another crypto expert, maintains an alternative perspective. Brandt, who is renowned for his technical expertise and precise predictions, has issued a cautionary note regarding a robust bearish pattern on the daily chart of ETH. In his most recent analysis, he emphasizes a “bearish flag”—a descending channel—that he believes indicates potential additional downside risk. The Stock Market Connection Martinez has grounded his case on the historical relationship between Ethereum and the S&P 500 (SPX). Examining ETH in tandem with SPX Martinez noted that both assets had a bottom in late 2022 and kept an increasing trend until 2023. Based on the S&P 500 performance recently, he believes this alignment indicates ETH is preparing for a similar breakout. Martinez believes ETH might follow a similar trajectory, perhaps reaching the elusive $10,000 mark as the S&P 500 somewhat sank after its breakthrough to roughly $5,900. If such a trend is to follow through, then Ethereum needs a push to around 310% higher than the market price today. At the time of writing, Ether was trading at $2,618, up 8% in the last 24 hours. Martinez is cheerful about it, especially taking into account the development coming into the broader market perspective, although the objective has a very steep curve; however, Brandt’s warning is that ETH journey might not be as facile as envisioned, especially at the emergence of bearish signals. A Blend Of Signals The on-chain data from IntoTheBlock indicates that Ethereum holders have a divided sentiment. At present, nearly 23% of active addresses that hold ETH are in advantageous positions, which indicates that these holders are “in the money.” Although this implies that there is support at a certain level, the break-even level of 60% of the portfolios implies that the market remains uncertain. The holding by these individuals will determine how to buy more units or sell them in case of either a rise or drop in the price of Ethereum during the next weeks. More Losses Ahead? Veteran trader Peter Brandt warns that ETH’s bearish trend is severe and improbable to turn around. Brandt lately saw ETH’s daily chart’s negative predominance and projected more losses. October 31 saw seasoned analyst Brandt, known for his accurate forecasts, draw attention to Ethereum’s bearish trend on X (formerly Twitter). ETH’s one-day chart starting in August has indicated a declining trend. This “bearish flag” indicates that the fall will keep on. Brandt saw no Ethereum purchase signals or momentum changes. His negative view contradicts with the rally forecasts of speculators. Since the chart shows no reversal, Brandt thinks ETH’s price may fall below current support levels. A Differing Perspective Although both are highly contradictory in terms of their opinions, the analysis by Martinez and Brandt of what is likely to happen in the subsequent phases of Ethereum has revealed such unpredictability. Ether is seen to continue its rise upward like that of S&P 500 toward $10,000. On the other hand, a similar cautionary tale given out by Brandt suggests that even in the future, difficulties may lie ahead due to the continuous presence of downward forces. Featured image from DALL-E, chart from TradingView

Three cryptos are primed for unstoppable growth and poised to hit new all-time highs in November 2024. These promising assets are showing robust momentum, supported by innovative tech, increasing adoption, and expanding utility in key areas of the crypto space. With strategic partnerships and market demand on the rise, these coins are well-positioned to deliver impressive gains this month. Shiba Inu (SHIB) Shiba Inu aims to develop a huge ecosystem in the crypto industry. More so, its ecosystem includes ShibaSwap, a decentralized exchange, and plans for Shibarium. Shibarium is a layer-2 blockchain solution that focuses on DeFi applications. In addition, the project has enabled NFTs and staking options, looking to add real-world uses and attract many users. Ripple (XRP) Crypto project Ripple (XRP) is again in the top trend as the SEC’s deadline to appeal the latest court ruling comes, leaving less than 10 days for a decision that will significantly impact XRP’s regulatory compliance. XRP hovers above the 50-day and 200-day EMAs, confirming bullish price trends. A break above $0.60 would support a move to the post-final judgment high of $0.6434. Furthermore, a return to $0.6434 could give the bulls a run at $0.70. Rexas Finance (RXS) Rexas Finance is the user’s gateway to the future of asset management. Rexas Finance enables users to own or tokenize digitally any real-world asset, from real estate to commodities, on a worldwide scale. With Rexas Finance, users can gain a market with endless asset investment opportunities. Rexas Token Builder: It is normally used to tokenize their real-world assets and commodities. To make it easy for individuals to get digital ownership and offer access to the global market. Rexas Launchpad: This feature helps the asset owners raise funds for their tokenized assets, offering liquidity and new investment options for the crypto users. Rexas Estate: The project’s one of the most exciting features is Rexas Estate which enables crypto users to co-own the real-world assets and earn passive income in stablecoins. Rexas GenAI & DeFi: It is mainly utilized by artists who can use Rexas GenAI to develop and tokenize digital artworks, while Rexas DeFi allows users to swap digital assets across multiple networks with ease. Rexas Treasury: A multi-chain yield optimizer that enables users to earn compound interest on their crypto deposits, which adds one more layer of financial utility to the project. Rexas Finance began the presale of the native token RXS on September 8, 2024. The total supply of RXS tokens is 1 billion. Rexas project has raised over $5.45M until now, with the fourth stage of presale over. This presale event is important for the platform as it allows early investors to engage in what might turn into a revolutionary solution for RWA tokenization. Rexas Finance’s $1M Giveaway is live, offering a huge chance for early adopters to join the project’s growth. With a current token price of $0.06, the potential for a price increase indicates a good opportunity for investors. Moreover, Rexas Finance has been listed on CoinMarketCap and CoinGecko, the project will be soon listed on top tier 1 exchanges. About Rexas Finance (RXS) Rexas Finance is the users’ gateway to the future of asset management. Rexas allows users to own or tokenize virtually any real-world asset, from real estate and art to commodities and intellectual property worldwide. With Rexas, users gain access to a world where asset liquidity and investment choices are boundless. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research.

PEPE price has soared by over 15%, over the last 24 hours. The trading volume of the meme coin is up 137%. Donald Trump claims victory in the 2024 US presidential election over Kamala Harris. It’s decisive to mark that Bitcoin surpassed its previous record of $73K, and hit a new all-time high of $75,361. The US election has previously impacted the crypto markets, witnessing both gains and losses. At press time, the entire market is priced in green and the majority of the assets have gained in double digits. Among them, the frog-themed meme coin, PEPE has registered a 15.87% surge over the past 24 hours. In the early hours of trading, the meme coin traded within the $0.000008195 range. Eventually, PEPE climbed to a high of $0.000009643, choosing a bullish rally for the day. At the time of writing, the meme coin traded at $0.000009507 with its trading volume reaching $1.35 billion, as per CMC data. According to CoinGlass, $2.85 million in PEPE was liquidated during this timeframe. Besides, the asset began to trade at $0.000009391 over the past week. As days progressed, PEPE’s price fluctuated severely and slipped to a low of $0.000007772. Can PEPE Sustain Its Current Position? PEPE’s four-hour price chart highlights the possibility of an upside correction. The current bullish pace could trigger the meme coin to climb above the current price. It could likely bring a retest, and PEPE might head toward $0.000009694. A potential rally might be on the horizon if the meme coin continues to trade within the current momentum. In contrast, if PEPE collapses, the downside momentum might pull back the price to a low of $0.000009046 level. Moreover, the technical indicators of PEPE revealed the ongoing positive momentum. The Moving Average Convergence Divergence (MACD) line is positioned above the signal line, inferring the incoming bull run. PEPE chart (Source: TradingView) It’s essential to mark the Chaikin Money Flow (CMF) indicator at 0.17, suggesting an increased money flow. Meanwhile, PEPE’s daily trading volume has surged by over 137%. The current market sentiment of PEPE might lead to the overbought territory shortly, as the daily relative strength index (RSI) sits at 67.42. The daily frame of the meme coin shows the short-term 9-day MA above the long-term 21-day MA. Highlighted Crypto News Pro Crypto Candidates Lead in 2024 US Election

Singapore, Singapore, November 6th, 2024, Chainwire Foresight Ventures, the leading global Web3 investment firm, is thrilled to announce its strategic partnership with The Block to co-host the highly anticipated Emergence Conference, an event gathering all the bright minds to shape the future of the global cryptocurrency landscape. This world-class event is set to take place at the iconic Prague Congress Center from December 5 to 6, drawing industry leaders from across the globe. The event boasts a stellar lineup of executive speakers from the industry’s top institutions, including Wintermute, a16z Crypto Solana, Binance, and Tether. Attendees will witness a confluence of groundbreaking ideas and strategies from these crypto pioneers, making Emergence one of the most significant conferences on the 2024 global crypto calendar. Designed to leverage The Block’s unrivaled data and research platform, the Emergence Conference will serve as the ultimate conduit connecting critical segments of the cryptocurrency ecosystem. This unique event will act as a bridge between cutting-edge blockchain technology and institutional capital, aligning the interests of Wall Street with crypto-native enterprises to fuel innovation and growth. As a premier supporter of the event, Foresight Ventures is poised to elevate the dialogue by sharing its deep insights into the booming Asian crypto market. The firm will also provide go-to-market (GTM) guidance for Web3 startups seeking to scale in Asia, solidifying its role as a pivotal player in global crypto expansion. In addition to thought-provoking discussions and industry-shaping panels, Emergence will offer attendees an exclusive, world-class experience unlike any other. VIP participants will enjoy private dinners in some of Prague’s most historic venues, including the iconic Prague Castle, fostering an intimate setting for key industry leaders to build connections and partnerships in an atmosphere steeped in history and grandeur. The event will explore cutting-edge themes, including technological challenges and opportunities shaping various blockchain ecosystems, and will foster deep discussions on scaling, decentralization, and transformative applications across the crypto space. Executives from major Layer One networks will collaborate on the future of decentralized finance, while exploring real-world use cases that are set to redefine industry standards. As the digital asset landscape continues to mature, Emergence will tackle the most imminent market developments and nuances, including the launch of spot Bitcoin ETFs and the evolving regulatory frameworks shaping the industry. Attendees will benefit from the insights of government officials, legal experts, and key industry figures, who will provide clarity on compliance strategies and the legislative changes that are poised to impact the market. With over 2,000 expected participants and more than 80 leading speakers, Emergence is poised to redefine the industry conference model, offering unparalleled access to some of the most influential voices in crypto. Interested participants can secure their tickets at emergence.xyz, while companies eager to explore exclusive sponsorship opportunities are encouraged to reach out using the contacts provided below. About Foresight Ventures Foresight Ventures is the leading global crypto venture capital firm, managing over $400 million in AUM across 150+ investments. With a research-driven approach, Foresight Ventures bridges Eastern and Western markets, focusing on early-stage opportunities in Web3. Its diverse portfolio spans blockchain infrastructure, AI and consumer applications with investments in top companies like Bitget, Aptos, TON and Morph. Through its premier owned media network, including The Block, Foresight News, Coinness and BlockTempo, the firm provides exposure to transformative technologies that shape the future of financial ecosystems. Foresight Ventures backs the boldest upcoming innovations, encouraging concepts that challenge conventional platforms with real-life use cases built on emerging technologies. Dedicated to accelerating crypto adoption for billions of people worldwide, Foresight Ventures breaks down barriers empowering global financial freedom and inclusion to all. Twitter: https://x.com/ForesightVen || Email: [email protected] About The Block The Block is an information services company empowering smart decisions for those who invest in, work with, make decisions about, and seek to understand digital assets. For industry news, visit us at www.theblock.co or for research and analysis on events shaping the ecosystem, users can visit www.theblock.pro. Emergence Event Contacts: Sponsorships and Sales: Gina DeFelice, [email protected] Press Inquiries: M Group Strategic Communications, [email protected] Contact PR team Foresight Ventures [email protected]

The Bitcoin price hit a new all-time high (ATH) as it surged past $73,700 and rose to as high as $75,000 on November 6. Following this development, crypto analyst Tony Severino has revealed what to expect next from the flagship crypto. Bitcoin Price Ready For “Fireworks” After New ATH In an X post, Tony Severino indicated that the Bitcoin price is ready to experience a parabolic rally, as he told market participants to expect fireworks above $75,000. The crypto analyst also revealed that Bitcoin was approaching the 2-week upper Bollinger Band while the bands are the tightest in history according to the BBWidth. The accompanying chart, which the crypto analyst shared, showed that the Bitcoin price could rise to as high as $140,000, with the flagship crypto reaching a potential market top in 2025. Tony Severino had previously mentioned that Bitcoin was approaching the strongest part of the bull run and explained how, based on historical trends, BTC could rise to as high as $133,000. Indeed, the Bitcoin price looks to be entering the strongest part of the bull run following its rise to a new all-time high. This recent price rally to a new ATH is thanks to Donald Trump, who has been elected to become the next US president. This provides a bullish outlook for Bitcoin and the broader crypto market since the US president-elect has publicly declared his support for Bitcoin and other cryptocurrencies. Besides Trump coasting to victory, it is worth mentioning that the Bitcoin price has historically never been below the levels it was at on US presidential election days. Therefore, this is likely the lowest range the flagship crypto might trade at before it records the next parabolic leg of this bull run. A Fed Rate Cut Is Also On The Way In addition to Donald Trump’s victory, some other catalysts are lined up to spark the next leg of the Bitcoin bull run. One is a possible Fed rate cut that is expected to come on November 7, which is bullish for the Bitcoin price. The US Federal Reserve begins its FOMC meeting today and will decide on a rate cut by tomorrow. CME Fedwatch data shows a 97.6% chance the Fed will cut interest rates by 25 basis points (bps). This provides a bullish outlook for the Bitcoin price as more capital is set to flow into its ecosystem. Institutional investors are also on the sidelines as they will likely invest more money in the Spot Bitcoin ETFs after the US elections and a Fed rate cut. At the time of writing, the Bitcoin price is trading at around $74,500, up over 9% in the last 24 hours, according to data from CoinMarketCap.

UNI surged 35%, reclaiming key support at $9.09. Potential Golden Cross may signal sustained bullish momentum. Uniswap’s native token, UNI, has seen a remarkable 35% surge in the past 24 hours, marking a four-month high of $9.41. This comes in a broader market upswing following Donald Trump‘s re-election as the 47th U.S. president, which has sent bullish ripples across the crypto landscape. Trading volume for UNI has also skyrocketed, increasing by an impressive 665%, reflecting heightened investor interest and market activity. The rally is particularly notable considering UNI was trading at a two-month low of $6.62 just two days ago. This rapid turnaround highlights renewed investor confidence, with market sentiment leaning heavily towards optimism. The consistency of these profitable transactions has been a key factor in maintaining Uniswap’s liquidity, a critical component for attracting further investment. Moreover, high liquidity remains a cornerstone for Uniswap’s ongoing success, providing a secure trading environment that appeals to both new and experienced investors. The influx of capital driven by sustained profits could bolster Uniswap’s position, paving the way for continued growth. UNI’s Near Future Technical indicators are aligning to reinforce this positive outlook. Currently, Uniswap’s EMAs (Exponential Moving Averages) suggest the potential formation of a Golden Cross. While the token is still experiencing the bearish influence of a Death Cross—formed three months ago when the 50-day EMA dropped below the 200-day EMA—the recent surge has significantly narrowed this gap. UNI Price Chart, Source: Tradingview Should UNI hold steady above $9.15, its next major challenge will be breaking the $10.06 resistance, a level not tested in nearly five months. Successfully flipping this resistance into support could solidify the bullish trend. However, failure to uphold the $9.15 support could result in a retracement to $8.23 or lower, potentially dampening the bullish sentiment and necessitating a consolidation phase before another upward attempt. As the market awaits Uniswap’s next moves, investor focus remains on key support and resistance dynamics. Highlighted News Of The Day Pro Crypto Candidates Lead in 2024 US Election

Trump secures the U.S. presidency, defeating Kamala Harris with strong support in both the House and Senate. A total of 15 pro-crypto candidates were elected to the Senate, while 10 anti-crypto lawmakers were chosen. As the 2024 U.S. Presidential Election results out, the pro-crypto Donald Trump has secured victory against Kamala Harris with strong support in both the House and Senate. Notably, crypto voters have played a crucial role in this election, fueling optimism in the crypto market—BTC hit an all-time high at $75,361. Crypto-friendly politicians have also seen significant gains across the House and Senate. According to data from Stand With Crypto, 247 pro-crypto candidates have been elected to the U.S. House, alongside 15 senators with a clear vision for digital assets. Among these is Ohio’s newly elected Republican Senator Bernie Moreno, a well-known crypto advocate, and Democratic Congressman Steven Horsford of Nevada’s 4th District, both voicing strong support for digital assets, secured their win against the anti-crypto candidate. (Source: Stand With Crypto) Conversely, anti-crypto candidates saw far fewer wins, with only 113 in the House and 10 in the Senate. Notable among them is Democratic Senator Elizabeth Warren of Massachusetts, who has long expressed skepticism toward the crypto industry. Industry’s Influence Grows with Pro-Crypto Wins in US Election The crypto sector’s involvement in this election extends beyond votes, with industry firms pouring over $119 million into federal elections through Super PACs and other donations. This financial backing aimed to boost candidates aligned with clear, supportive regulations for crypto. As expected, the results have drawn excitement across the crypto industry. Ripple CEO Brad Garlinghouse expressed; “To everyone who doubted it: the crypto voter is here to stay, loud and clear!” Coinbase CEO Brian Armstrong echoed these sentiments, noting that voters across the nation have shown they care about crypto and want clear rules for digital assets. Meanwhile, Coinbase CLO Paul Grewal had a strong message for the SEC: “Stop suing crypto. Start talking to crypto. Initiate rulemaking now.” As votes continue in states like Montana, Pennsylvania, Arizona, and Nevada, more pro-crypto politicians could soon join, further solidifying crypto’s place in U.S. politics. Highlighted Crypto News Today Will ETH Reach Key Resistance as Market Momentum Builds?

Ethereum’s price rose to $2,596 with a 6.82% gain. The global crypto market cap surged by 8.11%, reaching $2.47T. The global crypto market cap surged to $2.47 trillion, marking an 8.11% increase in the last 24 hours. Total crypto market volume soared to $165.48 billion, reflecting a significant 95.70% surge in trading activity. DeFi’s share of this volume stood at $6.62 billion, accounting for 4.00% of the total crypto market’s 24-hour volume. Stablecoins dominated with $152.56 billion, representing 92.19% of the overall volume. Ethereum’s price experienced an uptick, reaching $2,596.01, up by 6.82% on the day. The asset’s market cap rose to approximately $313 billion, underscoring the renewed investor confidence in the cryptocurrency. Trading volume for Ethereum spiked, signalling an increase in market activity as traders reacted to the upward price movement. The market cap ratio remains robust, showcasing Ethereum’s resilience within the broader crypto ecosystem. Ethereum (ETH) Holds Steady On November 5, spot Ethereum ETFs reported no net inflows or outflows, based on data from Farside Investors. This absence of change in investment flows was the fourth instance this year, aligning with similar occurrences on August 30, October 7, and October 9. This stability in ETF movements suggests a period of observation as investors await stronger directional cues. The technical chart reflects Ethereum’s bullish momentum. The RSI stands at 68.11, indicating a near-overbought condition, which could hint at a potential correction if buying pressure diminishes. The RSI average hovers at 41.79, suggesting recent gains have pushed the metric higher. Moving averages display bullish crossovers; the 9-period MA is at $2,461.46, while the 21-period MA sits at $2,458.64, reflecting a short-term upward trend. Immediate support levels for Ethereum appear around $2,460, with stronger support at $2,400. On the upside, the primary resistance level stands at $2,630. If Ethereum breaches this, it could target $2,700, adding to the recent positive momentum. The surge in price and technical crossovers signal a bullish outlook, but traders should watch for RSI movements to anticipate potential pullbacks. Highlighted Crypto News Today Will President Donald Trump Deliver the Crypto Manifesto as Promised?

Colorado, USA, November 6th, 2024, Chainwire Grass is a decentralized data network that enables users to gather and analyze web data in real time, utilizing artificial intelligence (AI) to streamline data collection. The platform incentivizes community contributions through a reward mechanism, enhancing user engagement. Recently, Grass secured a position among the top 5 Web3 projects on the RootData rankings, as measured by user engagement metrics. Funding Milestones Grass has successfully completed two funding rounds, raising a total of $4.5 million to support its development and expansion: July 2023: Grass raised $1 million in a Pre-Seed round, with participation from No Limit Holdings, Big Brain Holdings, Builder Capital, Cogitent Ventures, Kyle Samani, Neel Somani, and Rahim Noorani. December 2023: Grass secured $3.5 million in a Seed round, led by Polychain Capital and Tribe Capital, with additional investment from Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik. GRASS Airdrop Campaign Sees High Participation On October 28, Grass launched an airdrop initiative that garnered significant attention. The demand for GRASS tokens led to high activity levels. By November 4, approximately 82.75% of the total tokens allocated for the airdrop (around 64.7 million GRASS tokens) were claimed by 1.8 million wallet addresses. GRASS Market Overview Currently, GRASS is priced at $1.62, with a market capitalization of approximately $394 million, ranking #173 on CoinGecko. Over the past week, GRASS has experienced a notable price increase of over 68%. BYDFi Listing of GRASS Token The listing of GRASS on BYDFi marks a significant milestone for Grass, making the token accessible to a wider audience. In conjunction with this listing, BYDFi has introduced a promotion allowing users to earn GRASS tokens by completing specified tasks. Participants can register on BYDFi and complete these tasks to receive GRASS tokens as part of this promotional campaign. GRASS in the Web3 Sector Grass is positioned as a competitive player within the Web3 data sector, with recent achievements that highlight its focus on community-driven data collection and incentive structures. The listing on BYDFi provides additional access for users and contributes to Grass’s expanding reach. For more information on Grass or to participate in the BYDFi promotional campaign, users can visit BYDFi’s platform. About BYDFi: Established in 2020, BYDFi is a top-tier crypto exchange recognized by Forbes and endorsed by CoinMarketCap and CoinGecko. Known for its professionalism, innovation, and robust security features, BYDFi offers more than 600 cryptocurrencies for spot trading, along with advanced options like 200x leverage on perpetual contracts. The platform prioritizes user security, provides 0% trading fees, and facilitates simple crypto purchases in partnership with Banxa, Transak, and Mercuryo, making it a preferred choice for traders globally. Contact Senior Market Director Chloe BYDFi [email protected]

Donald Trump made several promises during his campaigns that endorsed crypto. Trump vowed to release Silk Road founder Ross Ulbricht on day 1 of his presidency. USA welcomes aboard its 47th President, Donald Trump after a six-month-long campaign and endless promises from electoral candidates. Kamala Harris lost the battle at a close 4% with Trump taking the majority. During the campaigns, Donald Trump endorsed the crypto sector intensely, making several promises. Firstly, the president showed high interest in Bitcoin and also spoke at the 2024 Bitcoin conference. He had met with prominent members of Bitcoin mining platforms and stated that the USA should mine the remaining Bitcoins. Secondly, he had advocated for the release of several cryptocurrency convicts including Silk Road founder Ross Ulbricht. According to the imprisoned founder’s X post, Trump pledged to commute his sentence on Day 1 of being president. Thirdly, Donald Trump also promised to fire Gary Gensler, the Chair of the Securities and Exchanges Commission (SEC). This he stated in relation to his motive to provide regulatory clarity for the cryptocurrency sector. Moreover, the president was endorsed by several prominent crypto members apart from tech giant Elon Musk. Gemini founders, the Winklevoss twins, and Kraken co-founder Jesse Powell were among those who extended their support. Additionally, his other promises included establishing a ‘National Bitcoin Stockpile’ and retaining 100% of the US government’s crypto holdings. What is the Crypto Community Expecting from Donald Trump? Over the past few weeks, the crypto community has been anticipating the US elections. As expected Bitcoin prices have hit the roof in the last few hours despite the increased volatility. Following this, Trump’s winning the elections has led to an outburst of rejoicing from the community. On analyzing the common interest of the community, they look forward firstly, to a clarity in crypto regulations from the new government. They also await Donald Trump to fulfill the aforementioned promises and to help promote the sector. Trump, having immersed deeply into the sector has stated strong beliefs in cryptocurrency. At one campaign event, he stated that digital assets have the potential to pay off the US debt. Meanwhile, since taking office, the president has yet to discuss and implement his plans for the cryptocurrency sector. Highlighted Crypto News Today: How Trump’s Win Impacted Predictors on Polymarket?

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, has seen an 8% daily surge following Bitcoin’s surge to $70,000. Amid the market volatility, the token is trying to recover a key resistance level, which could propel the price to a 110% rally. Shiba Inu To See 110% Surge Soon Shiba Inu’s recent performance saw the cryptocurrency display red numbers in several timeframes. Following the market’s most recent pullback, SHIB retraced 13% to its lowest weekly mark of $0.00001632, registered on November 3. However, the token has bounced 12% from its lowest seven-day price, recovering the $0.000018 resistance level on Thursday. SHIB’s performance is seemingly fueled by BTC’s recent jump back to the $70,000 mark, which sent the memecoin above the $0.00001855 resistance before retracing. Moreover, the token’s daily activity increased 67% in the past 24 hours, seeing a daily trading volume of nearly $730 million. Some market watchers highlighted Shiba Inu’s recent performance, suggesting that the token is preparing for a massive rally in the coming days. Analyst Globe of Crypto stated that SHIB is looking positively to retest the resistance of the Descending Broadening Wedge pattern. Per the post, if the 1-day candle surpasses the $0.000019 resistance level, the memecoin could see a breakout from the formation. This zone was a crucial bounce level for Shiba Inu’s 136% rally in early March. As a result, the analyst considers that a successful breakout and reclaim of this level could start a “100-110% bullish wave,” which could propel the price toward the $0.000040 zone. Is $0.000081 The Next Big Target? Crypto analyst Javon Marks predicted a 351% surge toward SHIB’s all-time high (ATH) levels. The analyst noted that Shiba Inu broke out of a multi-month falling wedge pattern in early 2024, which sent the price toward Q1 highs. Since then, the memecoin moved within another multi-month falling wedge formation after registering a 70% correction from its year-high of $0.000043. SHIB broke out of this pattern around the end of Q3, kickstarting the token’s one-month 58% rally. Despite the recent market retrace, the analyst notes that Shiba Inu held above the breakout levels, confirming “a bull pattern with the RSI on the daily chart.” Marks considers that the memecoin’s next leg up is in its early stage, setting the rally’s target at $0.000081. Similarly, another market watcher shared his positive outlook for Shiba Inu’s price. Analyst Investing Haven suggested that SHIB’s current levels are not a cause for concern since “there’s “no long-term trend violation.” To the analyst, the memecoin’s levels to watch are between the $0.0000133-$0.00001444 prince range, as losing this support zone could signal a trend shift. However, Shiba Inu must reclaim the $0.000020 mark to continue its ascending trajectory. As of this writing, SHIB is trading at $0.00001828, an 8% surge in the daily timeframe.

TEAMZ is proud to announce that the TEAMZ Web3・AI Summit 2025 will take place on April 16-17, 2025, at the Toranomon Hills in Tokyo. This summit is one of Japan’s largest international conferences, gathering top global leaders, innovators, investors, and companies in the Web3 and AI industries. Event Overview Date: April 16-17, 2025 (Wednesday-Thursday) Time: 10:00 AM – 6:00 PM Location: Toranomon Hills International Forum, Tokyo Scale: Over 5000 attendees from around the world Organizer: TEAMZ, Inc. Additionally, the summit will attract the following industry participants: 120+ Speakers 100+ Exhibiting Companies 100+ Venture Capital Firms 100+ Communities 100+ Media Outlets 450+ Key Opinion Leaders (KOLs) More than 5000 Web3 professionals from Japan and abroad are expected to attend, exploring innovation, business opportunities, and technology development. Summit Purpose The TEAMZ Web3・AI Summit 2025 aims to discuss the future of business utilizing Web3 and AI technologies, promoting the development of Japan and the global tech industry. The summit will dive into opportunities and societal impacts brought by the next generation of blockchain technology, decentralized systems, and AI, providing a platform for participants to forge new connections. Participants and Agenda Participant Profile: CEOs, executives, technical leaders, developers, VCs, investors, media, and community leaders in the Web3 and AI space will be attending. Agenda: Keynote Speeches: Leading figures in Web3 and AI will give keynote speeches on the future of technology and its impact on society. Panel Discussions: Thought leaders will engage in discussions on the current state of the industry, challenges, and future directions. Exhibition Area: Over 100 companies will showcase cutting-edge technology and products, providing insights into the latest innovations in Web3 and AI. Participants can interact with these companies and explore business opportunities. Networking: Networking sessions will facilitate business opportunities and collaborations between innovators and industry leaders. Side Events: Throughout the summit, community-driven and company-sponsored side events will provide further opportunities for networking and business growth. Ticket Registration & Discount Campaign Now Live! Tickets for the summit are currently available at a discounted rate! Purchase your tickets early to secure the best price and experience the forefront of Web3 and AI. For more information and to register, visit the official website: TEAMZWeb3AISummit2025. Call for Speakers, Sponsors, Communities, and Media Partners! TEAMZ Web3・AI Summit is currently seeking speakers, sponsors, community partners, and media partners. This is a unique opportunity to collaborate with top global leaders in the Web3 and AI industries. If you are interested, please get in touch with us. Speaker Applications: Share your insights and showcase your leadership on a global stage. Sponsor Recruitment: Maximize your brand exposure and expand business opportunities through networking at the summit. Community Partners: Collaborate through discount code offerings and co-hosting side events. Media Partners: Spread the word and enhance your industry influence by partnering with us. Significance of the Summit Japan’s tech industry is at a pivotal point in accelerating the development of Web3 and AI. The TEAMZ Web3・AI Summit provides a unique platform for global leaders to share the latest technology and discuss solutions to industry challenges. By bringing together startups and large enterprises, the summit will also highlight Japan’s leading role in global tech innovation. Ticket Registration For registration and further details, please visit the official website:TEAMZ Web3・AI Summit 2025. Conclusion The TEAMZ Web3・AI Summit 2025 is poised to be a key event for global technology leaders, shaping the future of business and technology. We look forward to your participation! 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.

Earning rewards is an interesting way to strengthen investments in the evolution of cryptocurrency. Cryptocurrencies have changed how we think about money, providing new ways to build wealth. In this article, we’ll explore four popular methods, starting with crypto staking, to help you maximize your investments in 2024. Key Takeaways You can start earning passive income from cryptocurrency even if you’re a beginner! Interest rewards are one of the easiest ways to start earning passive income, with exchanges like Coinbase offering rewards over 5% on USDC. We’ll break down several methods for investors, ranging from easy to more complex strategies. 1. Crypto Staking Difficulty: Easy Crypto staking involves locking up a certain amount of cryptocurrency to support a blockchain network’s operations, such as validating transactions. In return, you receive staking rewards. Keynode With the rapidly developing world of technology and digital means of communication, Keynode was created with one mission to make the management and flow of information within an organization easy. 1. Sign Up Sign up to create your account quickly. You don’t need any experience with cryptocurrency; you only need to enter your email and choose a password to begin! As a new user, you’re eligible for a $100 Welcome Bonus tied to the ETH Lite Plan. 2. Select an Asset to Stake Choose from the available staking plans to find the option that best suits your investment goals. Keynode.net offers a variety of assets, making it easy to tailor your staking experience. 3. Earn Rewards After you have completed the staking of your assets, you can do nothing and relax instead of receiving daily rewards! Staking Plans on Keynode.net Keynode.net offers a variety of flexible staking plans designed to suit different investment preferences and risk levels. While payments go on every day and have a low entry point, staking on Keynode.net will help the user earn without making a particular effort. Let’s look closer at the available staking plans: Earn Big with Keynode.net’s Affiliate Program (4% + Active Users Bonus) The Keynode.net Affiliate Program is designed for crypto enthusiasts and affiliates who want to earn extra income by sharing Keynode.net with others. How It Works 1. Sign Up and Get Your Referral Link Simply sign up for the affiliate program onKeynode.net and receive a unique referral link. 2. Share Your Link Invite friends, family, and followers to join Keynode.net using your referral link. 3. Earn Rewards Instantly Each time a referred user completes a purchase, your commission is credited immediately. 4. Active Users Bonus Enjoy extra bonuses for each milestone in active users (those who have made a purchase). The more active users you bring in, the more you earn: o 10 Active Users: Earn an extra $15 o 30 Active Users: Earn an extra $50 o 50 Active Users: Earn an extra $100 o 100 Active Users: Earn an extra $150 o 300 Active Users: Earn an extra $400 o 500 Active Users: Earn an extra $700 o 1,000 Active Users: Earn an extra $1,500 o 2,000 Active Users: Earn an extra $3,000 Keynode.net Million Bounty Program Keynode.net’s Million Bounty Program is your opportunity to earn rewards while contributing to the growth and success of our platform. By completing simple tasks, sharing messages, and managing online groups, you can earn crypto rewards. How to Claim a Bonus on KEYNODE: A Simple Guide Enter your username followed by “Million Bounty” on the first line. Provide your email address on the second line. Share the link to your social media post on the third line. Submit the information to the Support team for review. Approved bonuses will be issued weekly on Tuesdays and Fridays. 2. Cryptocurrency Interest Rewards Difficulty: Very Easy Interest rewards are a simple way to earn passive income in crypto. Many exchanges offer attractive interest rates on various cryptocurrencies. Pros: Low Technical Barrier: No advanced knowledge is needed to start earning. Easy Liquidity: Most platforms allow for quick withdrawals of your assets. Cons: High Investment Required: To achieve reliable income, a significant deposit is often necessary. Bankruptcy Risk: Research platforms thoroughly, and take actions to minimize the risks of bankruptcy in the past. 3. Dividend Earning Tokens Difficulty: Easy Certain cryptocurrencies offer dividends, enabling holders to receive a portion of the project’s profits in the form of extra tokens. Pros: Low Effort: Dividends are automatically paid, requiring little to no action on your part. Compound Potential: Many dividend tokens offer the ability to reinvest dividends. Cons: Limited Options: Dividend-earning tokens are less common compared to staking rewards. Higher Risk: Many of these tokens are less established, leading to high volatility. 4. Crypto Lending Difficulty: Medium Through platforms and Decentralized Finance (DeFi) protocols, crypto lending is the process of allowing others to borrow one’s cryptocurrency in exchange for a fee paid back in the form of interest. Pros: Accessible Entry: Relatively straightforward method. Compound Interest: Platforms like Compound offer compound interest, maximizing potential earnings. Cons: Platform Risks: Due diligence is crucial, as many lending platforms have experienced failures. Limited Protections: Most platforms operate in an unregulated environment. Additional Methods for Passive Income If you’re looking for more ways to earn passive income from crypto, consider exploring: Play-to-Earn Games: Reward-based games like Axie Infinity; the majority require preliminary investment and take much time. Crypto Affiliate Programs: Promote crypto products to earn commissions, though this often necessitates a large audience. Yield Farming: Engage with DeFi protocols to maximize yields, but this method requires advanced knowledge and carries significant risks. Cryptocurrency Mining: Mining can be profitable, but it’s complicated, needs a lot of money to start, and uses a lot of energy. How to Choose a Crypto Passive Income Platform When choosing a passive income-generating platform, remember the following suggestions: Reputation: Check out the history and feedback regarding this or that platform in order not to be fraudsters. Centralized vs. Decentralized: You need to find a balance between the ease and convenience of using centralized platforms and the independence and data security you get with decentralized ones. Understanding Protocols: Take time to understand how it works because some protocols of dApps can be more difficult to use than others. So, it’s time to start your journey with Keynode.net!

Donald Trump has secured victory in the 2024 U.S. presidential election. Bitcoin surged over 10%, hitting a new all-time high. The Republican candidate, Donald Trump won the 2024 US presidential election race with 248 electoral votes, beating the Democratic candidate, Kamala Harris. The Trump victory has justified the Polymarket prediction. Over the past 24 hours, the prediction platform revealed the probability of Trump’s victory with 95%, and Kamala Harris trailing at 3.3%. This shift highlights strong market sentiment in favor of Trump. Looking back, both candidates have been racing on the prediction market platform. Someone Profits While Others Take a Loss Notably, the three prominent bettors made significant profits as Trump won the presidency. Players like Theo4 earning $20.4M, Fredi9999 gaining $15.6M, and zxgngl securing $11M. These profits highlight the rewards of strategic investments during key market movements. Meanwhile, the individual who placed a $5 million USDC bet on Kamala Harris facing heavy losses, with a current loss of approximately $4.9 million, a 97.7% drop in value. Moreover, the preliminary counts indicate that Trump has garnered 95 electoral votes, while Harris has 35. The US election’s Electoral College system mandates that a candidate must secure more than 270 electoral votes to win the presidential race. The anticipation hovered around the Trump victory has generated confidence in financial markets as his economic policies will bolster the U.S. dollar. Meanwhile, the U.S. Dollar Index rose by 0.8% to 104.27. Furthermore, as the market speculated, Bitcoin’s price soared by over 10% and the largest crypto asset hit its all-time high (ATH), reaching the $75,000 mark for the first time, amid the elation of Trump’s victory in the US election. The daily trading volume of BTC has risen by over 114% to $89.37 billion. Highlighted Crypto News Bitcoin and Dogecoin Flex Big Moves to the 2024 US Election Results

Bitcoin (BTC) whales appear to be offloading some of their holdings ahead of the closely contested 2024 US presidential election. 2% Fall In BTC Held By Whale Addresses In a post on X, crypto analyst Ali Martinez shared that Bitcoin whales – wallet addresses holding a significant amount of BTC – are “dialing back exposure” ahead of what is likely to be a very closely contested US presidential election. According to the analyst, there has been a 2% decrease in the number of wallet addresses holding 1,000 or more BTC. Notably, since May, the number of Bitcoin whales was at its highest during mid-October when Republican presidential candidate Donald Trump was the overwhelming favorite to emerge victorious. At the time of writing, decentralized prediction markets platform Polymarket gives Trump a 62.7% chance of winning, while Democratic candidate Kamala Harris has a 37.4% chance of becoming the next US president. Bitcoin whales selling some of their BTC holdings as Americans prepare to vote could indicate a cautious approach, possibly to mitigate potential price volatility tied to the elections. Bitcoin Whales Expecting Price Volatility? The selloff might suggest that Bitcoin whales foresee a stricter regulatory environment for digital assets following the elections. This concern may not be unfounded, as the Biden administration has faced accusations of adopting a hostile stance toward the digital assets industry. On the contrary, Trump has repeatedly promised to make the US the “crypto capital of the world” during his election campaign. In addition to the whale selloff, long-term BTC holders appear to be disposing of their holdings. According to recent analysis, more than 177,000 BTC were sold by long-term holders in the last seven days. Another scenario worth considering is that any further decline in whale addresses’ BTC holdings without a corresponding drop in price could indicate that retail investors are stepping up to buy the digital asset. Notably, demand for Bitcoin among retail investors has been on a steady uptrend since September 2024. According to a recent report, retail demand for BTC rose 13% in the past month, reflecting a shift in the market’s risk appetite from risk-off to risk-on. Martinez also brought attention to BTC’s TD sequential on the 12-hour chart and how it is flashing a buy signal. For the uninitiated, TD sequential is a technical analysis indicator used to identify potential price exhaustion points and trend reversals in financial markets. That said, a Trump victory might not be the silver bullet for Bitcoin’s tumbling price, as it is critical for the top digital asset to hold the $68,000 support level to avoid slipping to $63,000. At press time, BTC trades at $69,595, up 1.3% in the past 24 hours.

Swisstronik, the blockchain platform for regulatory-compliant, privacy-preserving Web3 applications, today announced a $5 million investment from Hong Kong-based Syndicate Capital Web3 Venture Fund as part of its ongoing Private SWTR Token Offering. Combined with the previously raised $6.5 million, this investment highlights Swisstronik’s unique position in developing blockchain solutions that seamlessly integrate decentralization with regulatory compliance. “We are thrilled to welcome Syndicate Capital as an investor,” said Constantin Guggi, CEO of Swisstronik. “Their investment, coming from a fund not primarily focused on Web3, validates our mission to create bridges between traditional sectors and the blockchain world.” Swisstronik’s platform addresses a critical need in the Web3 sector: achieving regulatory compliance without compromising decentralization, user privacy, or security. In the EU, for example, the upcoming Markets in Crypto-Assets (MiCA) regulation, set to take effect on December 31, 2024, has already created urgency, with an Acuiti study showing 57% of digital asset firms are still unprepared. This pressure has sparked a wave of regulatory initiatives across the EU, with countries like Italy and Denmark proposing new crypto tax amendments. As a result, many Web3 companies urgently seek accessible, compliance-ready solutions. Swisstronik provides businesses with a Web3 Compliance Suite to adapt to the complex requirements of impending regulations without much investment and/or major tech revamping. One of its core solutions is Swisstronik Decentralized Identity. Web3 and traditional companies can easily integrate it to become compliant with KYC and AML regulations across jurisdictions at a lower cost than provided by traditional solutions – all the while preserving user privacy and decentralization. A study by the World Economic Forum shows that companies can save up to 86% using decentralized identity solutions. Swisstronik’s solutions are particularly relevant for emerging digital asset use cases like Real-World Asset (RWA) tokenization. Its zero-knowledge token solution enables businesses to tokenize real-world assets or stablecoins with inbuilt compliance according to the issuer’s needs. Swisstronik’s tech stack of zero-knowledge technology and Intel SGX allows enterprises to prioritize user privacy and data security while simultaneously adapting to the requirements of their applicable jurisdictions. Swisstronik’s Private Token Offering remains open to institutional investors until the platform’s Mainnet launch and Token Generation Event (TGE), which are currently scheduled for early 2025. This extended offering period allows for continued strategic partnerships and investments as Swisstronik prepares for its full market debut. For more information about Swisstronik and investment opportunities, please visit www.swisstronik.com. About Swisstronik: Swisstronik is a blockchain platform that provides tools for regulating compliance in Web3, while assuring users’ privacy and security. Swisstronik enables businesses to harness the power of blockchain while adhering to regulatory requirements. About Syndicate Capital Web3 Venture Fund: Syndicate Capital Web3 Venture Fund (formerly called Syndicate Capital LPF) is a Hong Kong-based investment fund known for its diverse portfolio across various sectors. While not primarily focused on Web3, the fund has shown increasing interest in blockchain technologies that demonstrate practical applications and regulatory compliance. For further information or media inquiries, please contact: Constantin Guggi – CEO, Co-Founder [email protected] Zug, Switzerland 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.

Shiba Inu (SHIB), the popular memecoin, is back in the news after a crypto expert issued a bold projection predicting a tenfold growth in its market capitalization. Zach Humphries outlined certain hopeful variables that might propel SHIB to a market capitalization of $100 billion, bringing its price to $0.000171—a whopping 890% increase over present levels. Humphries, who has built a reputation for his memecoin market observations, feels SHIB’s surge is a real possibility, despite its present low price. In his most recent research, Humphries focuses on the factors that he believes are SHIB’s most fundamental assets. Among these are its brand strength, loyal community, and the potential return of retail investors who may be willing to take another risk in the memecoin space. Brand Power & Community Support Humphries believes that SHIB’s excellent brand recognition contributes significantly to its attractiveness. Shiba Inu has made a name for itself in the world of memecoins, thanks in large part to its passionate community. Even after the 2021 rally waned, SHIB supporters remained engaged, helping to keep the organization relevant in a very competitive sector. Humphries claims that this brand strength, paired with SHIB’s established status in the meme token market, provides it an advantage that fresher tokens lack. Humphries also notes that for many first-time investors, a well-known token like Shiba Inu may appear to be a safer bet in the volatile world of cryptocurrency. With increased demand, particularly if the broader cryptocurrency market becomes positive, SHIB’s price and reputation might skyrocket. According to Humphries, this flood of new investment could be what propels SHIB toward its $100 billion goal. Another Analyst Predicts 200% Rise Analyst “World Of Charts” provided a technical forecast alongside Humphries. They observed a new breakout in SHIB, suggesting a 200% increase that might bring it closer to yearly highs. SHIB’s rebound to $0.00001784 has traders hopeful for future gains. World Of Charts now sees that the breakout of SHIB over the key resistance trendline is another stimulus for further growth. This technical setup with the pattern of the descending expanding wedge makes SHIB jump again if the breakout is sustained. Can Shiba Inu Hit The Target? Humphries and World Of Charts paint a bright picture but not before it sets out difficulties ahead. A market capitalization of $100 billion is too ambitious, particularly for a memecoin, and would require sustained, continuous growth to make that possible. Featured image from DALL-E, chart from TradingView

On-chain data shows derivatives exchanges have just received large Ethereum deposits, something that could lead to volatility in ETH’s price. Ethereum Exchange Netflow Has Seen A Sharp Positive Spike Recently As explained by an analyst in a CryptoQuant Quicktake post, the Exchange Netflow for ETH has registered a large spike recently. The “Exchange Netflow” here refers to an on-chain indicator that keeps track of the net amount of ETH moving into or out of the wallets associated with centralized exchanges. When the value of this metric is positive, it means the investors are depositing a net number of tokens to these platforms. How these transactions affect ETH depends on the exchange to which the holders are moving coins. In the case of spot exchanges, investors usually make deposits whenever they want to sell, so positive exchange netflows to platforms of this type can lead to a bearish outcome. For derivatives exchanges, which are relevant platforms in the current discussion, the relationship with the price doesn’t tend to be so simple. Holders transfer their coins to these exchanges to open up fresh positions on the derivatives market. As new positions generally accompany some leverage, the overall risk in the sector could be assumed to go up when investors deposit to derivatives exchanges. This can lead to more volatility for the ETH price. A negative Exchange Netflow is usually bullish no matter the platforms involved, as it implies the investors are moving their coins to self-custodial wallets, potentially because they plan to hold into the long term. Now, here is a chart that shows the trend in the Ethereum Exchange Netflow for the derivatives platforms over the last few weeks: As displayed in the above graph, the Ethereum Exchange Netflow has seen a large spike into positive territory recently, which suggests the investors have just made large net deposits to the derivatives platforms. The holders have transferred about 82,000 ETH to these exchanges with this net inflow spree. As mentioned earlier, this trend can lead to higher volatility for ETH. It’s hard to say which direction any emerging volatility might take the cryptocurrency in, as other positive spikes in the last couple of months have proven to be a mixed bag. Given that the latest spike has coincided with a plunge in Ethereum’s price, though, a lot of these may be short positions predicting a further decline. If so, a swing to the upside could lead to liquidating these positions, which would add fuel to the rally. ETH Price At the time of writing, Ethereum is trading at around $2,400, down almost 7% over the last week.

Israel loses billions due to inadequate crypto tax enforcement and mismanagement. State Comptroller highlights significant gaps in crypto tax reporting and collection systems. Israel has reportedly lost billions of shekels in potential tax revenue from cryptocurrencies, according to a report published today by the State Comptroller and Ombudsman. The audit highlights severe lapses in the nation’s approach to taxing digital currencies, revealing an estimated annual revenue loss of NIS 2 to 3 billion from 2018 to 2022. A key finding is that only 0.25% of an estimated 200,000 digital currency holders filed tax returns during this period. The Israel Tax Authority (ITA) introduced a special tax payment procedure on December 31, 2023, enabling direct payments to the ITA’s account at the Bank of Israel. However, this initiative recorded zero participation, exposing significant gaps in the system. Moreover, the report stresses that Israel’s indecision to join the OECD’s Common Reporting Standard (CRS) for automatic exchange of financial information could risk the country’s international standing. The State Comptroller warns that this inaction may lead to Israel being avoided by the OECD, complicating tax enforcement and damaging the nation’s reputation. Report Stresses Strong Reforms The report suggests urgent reforms, urging the Bank of Israel to facilitate tax payments through commercial banks to simplify the process. It also calls for enhanced collaboration among the Bank of Israel, the ITA. And the Money Laundering and Terrorist Financing Prohibition Authority. The State Comptroller underscores the need for the ITA to establish clearer tax regulations for cryptocurrency. Israel has fallen behind nations like the United States, the United Kingdom. And the European Union, which has progressed in crypto regulation. Ultimately, clear regulations are seen as crucial for improving public trust, increasing tax compliance. And positioning Israel as a leader in the crypto economy, while realizing significant tax revenue potential. The report emphasizes that coordinated action is needed to harness the financial benefits of the growing digital asset market. Highlighted News Of The Day Elizabeth Warren Defeats Crypto Advocate John Deaton in US Elections