President of The ETF Institute, Nate Geraci, says the upcoming election will profoundly impact the future of crypto ETFs. The approval of new spot ETFs for assets such as Solana, XRP, and Litecoin is of particular interest. A Kamala Harris administration, which many expect will be an extension of the Biden administration’s cautious approach to crypto, The post Market Expert Explains Why Election Outcome Is Key For Solana And XRP ETFs appeared first on CoinGape .
November 5, 2024 – Miami, Florida Floki is thrilled to announce its latest marketing push, a four-week campaign at the iconic Wafi Mall in Dubai. From November 8 to December 5, 2024, Floki’s brand presence will light up 18 digital screens across one of Dubai’s most renowned shopping destinations, marking a major part of our The post Floki Announces Dubai Takeover With Wafi Mall Campaign appeared first on The Daily Hodl .
Shiba Inu (SHIB) exhibits promising growth potential, recently posting a 5% increase amidst stable market conditions. Notably, SHIB’s 7-day MVRV indicates minimal immediate selling pressure, suggesting the possibility of an
The social media giant Reddit has unloaded a huge part of its cryptocurrency holdings, according to a new regulatory filing. The firm says in a filing with the U.S. Securities and Exchange Commission (SEC) that it sold a big chunk of the crypto assets on its balance sheet during Q3 of this year. “During the The post Social Media Giant Reddit Sells Bitcoin (BTC) and Crypto Stash for Nearly $7,000,000 appeared first on The Daily Hodl .
Did Hamster Kombat’s viral rise lead to its own downfall? How did 260 million players vanish in months, leaving the game a shadow of its former self? From boom to dust Hamster Kombat (HMSTR), a once-celebrated tap-to-earn game on Telegram,…
Did Hamster Kombat’s viral rise lead to its own downfall? How did 260 million players vanish in months, leaving the game a shadow of its former self? From boom to dust Hamster Kombat (HMSTR), a once-celebrated tap-to-earn game on Telegram,…
Polymarket dominates with around $3.3 billion in betting volumes tied to the outcome of the US presidential race.
In the wake of the US presidential election, Bitcoin (BTC) is experiencing the expected volatility that often accompanies major political events. Tuesday’s trading saw the largest cryptocurrency fluctuating between $68,000 and $70,000, with the latter level acting as resistance since Saturday. Market analysis firm Crypto Birb has released insights into the potential impacts of the election on Bitcoin’s price trajectory, suggesting that, based on current indicators, Bitcoin could reach new record highs above $73,700 in the days following the election. Bitcoin Price Could Soar To Over $263,000 In a recent social media update, Crypto Birb highlighted several key figures for traders and investors, including the upward trends in the 200-week and 50-week simple moving averages (SMAs), currently at $59,200 and $40,700, respectively, which point to a bullish long-term outlook for the Bitcoin price. The firm notes the presence of over $470 billion in volume from exchange-traded funds (ETFs) investing in BTC, further contributing to market liquidity, which is critical for Bitcoin’s price movements to the upside. Related Reading: Dogecoin Price Rally Gains Momentum, Will DOGE Smash Through $0.18? However, a market bloat of 51%, measured by the Net Unrealized Profit/Loss (NUPL), indicates that a significant portion of Bitcoin holders are in profit, potentially leading to increased selling pressure if prices rise too quickly. The Market Value to Realized Value (MVRV-Z Ratio), currently at 1.86, projects a potential price target of over $263,000, suggesting substantial room for growth. Notably, Bitcoin’s low correlation of 0.16 with the S&P 500 indicates that its price movements are largely independent of traditional equity markets, which could attract investors seeking diversification. Historical Trends Suggest Strong November Ahead Despite the bullish long-term outlook, the firm suggests that traders should be cautious of short-term volatility. Crypto Birb noted that the market is experiencing a spike in “price randomness,” common occurrence during election cycles. Key resistance levels are identified at $70,700 and $72,000, which could prove critical in determining Bitcoin’s immediate path. The daily trend shows that $70,000 is a pivotal breakout point, and the firm suggests that a successful move above this threshold could trigger further upward momentum to retest all-time high records. The firm also highlights the current sentiment in the crypto market, which is currently characterized by a “Fear and Greed” index reading of 70, indicating a state of greed among investors. Crypto Birb contends that this sentiment often leads to heightened buying activity but can also signal a potential pullback if prices rise too quickly. Additionally, mining costs are estimated at around $80,700, suggesting miners are operating at a loss if Bitcoin remains below this threshold. Related Reading: XRP Price Gears Up: Is a Major Move on the Horizon? Further strengthening the case for Bitcoin, historical data shows that November has been a strong month for BTC, with an average gain of 14.96% over the past nine years. This means that if the cryptocurrency follows past movements, it could reach $79,000 by the end of the month. In addition, the fourth quarter of the past few years has shown an average gain of 50.86%, with the maximum quarterly gain recorded at 470.44%, suggesting that BTC could be poised for a significant rally in the coming weeks, regardless of the US election results between Donald Trump and Kamala Harris. When writing, the largest cryptocurrency on the market was trading at $69,830, up 3% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Amid a surge in cryptocurrency trading, Solana’s native token SOL gains momentum, potentially paving the way towards a target price of $200. As market dynamics shift, news of Bitcoin’s rally
SWIFT, UBS Asset Management and blockchain oracle provider Chainlink (LINK) have joined forces to successfully complete a pilot for settling tokenized transactions on the Swift network. According to a new announcement from Swift, the initiative allows for digital asset transactions to settle off-chain with fiat payment systems all over the world. The aim of the The post Chainlink, SWIFT and UBS Announce Successful Pilot for Settling Tokenized Asset Transactions on Swift Network appeared first on The Daily Hodl .