Bitcoin's halving is months away, and cryptocurrency companies are getting excited. Don’t be surprised if some companies fail as they rush products to market.
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Solana (SOL), Avalanche (AVAX) and dYdX produce double digit gains as Bitcoin reclaims $37K
On Nov. 15, several altcoins continued to show strength alongside Bitcoin (BTC) price, which notched an intra-day high at $37,400. Leading into the week, dYdX, Solana (SOL) and Avalanche (AVAX) currently reflect double-digit gains, with each chasing after new year-to-date highs.
The sustained bullish price action from altcoins has led some analysts to declare the arrival of an altcoin season and at the time of writing, the total market cap of the altcoin market has hit a 2023 high at $659.5 billion.
Altcoin price rallies typically involve a slew of factors, some being sentiment-based and others based on project fundamentals. Let’s look at a few of this week’s top market performers to see what catalysts underlie their growth.
dYdX fee switch boosts price
The platform behind the DYDX token is dYdX, which is a decentralized exchange (DEX) that offers futures contracts on EVM blockchains like Ether (ETH). On Oct. 27, dYdX launched its layer-1 blockchain with the creation of its genesis block, which operates using native DYDX tokens. The launch allowed for the on-chain distribution of all fees received to validators and stakers. The protocol update has been fantastic for the DYDX token price, sending it up over 110% in the past 30-days.
DYDX price. Source: TokenTerminalRelated: Exclusive: 2 years after John McAfee’s death, widow Janice is broke and needs answers
Solana (SOL), Avalanche (AVAX) and dYdX produce double digit gains as Bitcoin reclaims $37K
SOL, AVAX and DYDX rank among the top-performing altcoins this month. Cointelegraph investigates what is behind the move.
US House Financial Services subcommittee looks for answers on crypto and crime
Reports on crypto funding terrorism and blockchain forensics were confusing, but everyone agreed on the need for collaboration and regulation.
46% of crypto lost from exploits is due to traditional Web2 flaws — Immunefi
The security platform released a report categorizing Web3 exploits in 2022, concluding that nearly half came from “infrastructure” or centralized elements.
Price analysis 11/15: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, MATIC, LINK, TON
Bitcoin (BTC) succumbed to profit-booking on Nov. 13 and 14, which pulled the price below $35,000. Corrections are a normal part of every up-move and are considered healthy as they shake out the weak hands and allow the stronger hands to add to their positions.
A note of caution to the eager dip buyers is that Glassnode data shows the number of whale wallets with more than $1,000 Bitcoin dropped to its lowest level in about a month. This indicates that some whales may have sold into the recent strength.
Daily cryptocurrency market performance. Source: Coin360DecenTrader co-founder Filbfilb said in an interview with Cointelegraph that a drawdown could come before the rally leading into Bitcoin halving in April 2024. Filbfilb believes Bitcoin could pick up pace after that and reach $46,000 to $48,000 by halving.
Could Bitcoin and the select altcoins resume their uptrend, or will higher levels attract solid selling by the bears?
Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Price analysis 11/15: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, MATIC, LINK, TON
Bitcoin and select altcoins are showing strength, a possible sign that the bull trend has resumed.
Price analysis 11/15: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, MATIC, LINK, TON
Bitcoin and select altcoins are showing strength, a possible sign that the bull trend has resumed.
Bakkt shifts focus to custody services, adds support to DOGE, SHIB, other coins
Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15.
Aside from Bitcoin (BTC) and Ethereum (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB), and USD Coin (USDC). The company expects to add more coins to its custodial services early next year.
The custody of digital assets focuses on the safeguarding of cryptographic keys, which are crucial for accessing and transferring assets. Various security measures are employed by custodians, such as Bakkt, to protect assets, including cold storage of coins and multi-signature technology that demands multiple approvals for access.
The announcement follows Bakkt's release of its quarterly earnings report on Nov. 14, when the company disclosed an adjusted EBITDA loss (non-GAAP) of $21.6 million, a 30% decrease year-over-year due to a reduction in compensation and benefits.
According to the report, Bakkt has seen its crypto revenue reach $191.8 million in the third quarter of 2023 thanks to the acquisition of Apex Crypto in April. Over the quarter, the company generated a total of $204.8 million in total revenue. In terms of assets under custody, Bakkt reported $505.7 million, a decrease of 28% over last year.
Bakkt shifts focus to custody services, adds support to DOGE, SHIB, other coins
Bakkt is expanding its custody services shortly after its quarterly earnings report showed assets under custody declined 28%.
Layer 2 networks hit $13 billion TVL but challenges still remain
Data from L2Beat shows that layer 2s are seeing greater adoption than ever before as users continue to desire lower gas fees.
Layer 2 networks hit $13 billion TVL but challenges still remain
Data from L2Beat shows that layer 2s are seeing greater adoption than ever before as users continue to desire lower gas fees.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Visiting Liberland — a crypto micronation between Croatia and Serbia — required decoys and diplomatic immunity to dodge the border guards.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Disembarking the Liberty houseboat moored off the frontier of the European Union, we’re met by a pair of Serbian police officers, their lit squad car nearly blinding us in the dark forest.
“How many people are staying on the boat?” one asks, holding a large dog at bay. “I really don’t recall,” says my colleague from Reuters. Fortunately, they let us go.
We must run, using phone lights to navigate the muddy path to the rally point a bit further in Croatia, in hopes that the departing presidential convoy has not left us behind.
We are meters from the border of Liberland, an unrecognized micronation of crypto fans claiming a piece of land between Croatia and Serbia on the Danube river. At just seven square kilometers — 2.7 square miles — the piece of land is roughly the size of Gibraltar.
Liberland “president” Vít Jedlička explains it had not officially been claimed by either neighboring country, making it terra nullius — nobody’s land — when he planted a flag there on April 13, 2015.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Disembarking the Liberty houseboat moored off the frontier of the European Union, we’re met by a pair of Serbian police officers, their lit squad car nearly blinding us in the dark forest.
“How many people are staying on the boat?” one asks, holding a large dog at bay. “I really don’t recall,” says my colleague from Reuters. Fortunately, they let us go.
We must run, using phone lights to navigate the muddy path to the rally point a bit further in Croatia, in hopes that the departing presidential convoy has not left us behind.
We are meters from the border of Liberland, an unrecognized micronation of crypto fans claiming a piece of land between Croatia and Serbia on the Danube river. At just seven square kilometers — 2.7 square miles — the piece of land is roughly the size of Gibraltar.
Liberland “president” Vít Jedlička explains it had not officially been claimed by either neighboring country, making it terra nullius — nobody’s land — when he planted a flag there on April 13, 2015.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Visiting Liberland — a crypto micronation between Croatia and Serbia — required decoys and diplomatic immunity to dodge the border guards.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Visiting Liberland — a crypto micronation between Croatia and Serbia — required decoys and diplomatic immunity to dodge the border guards.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Visiting Liberland — a crypto micronation between Croatia and Serbia — required decoys and diplomatic immunity to dodge the border guards.
Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
Disembarking the Liberty houseboat moored off the frontier of the European Union, we’re met by a pair of Serbian police officers, their lit squad car nearly blinding us in the dark forest.
“How many people are staying on the boat?” one asks, holding a large dog at bay. “I really don’t recall,” says my colleague from Reuters. Fortunately, they let us go.
We must run, using phone lights to navigate the muddy path to the rally point a bit further in Croatia, in hopes that the departing presidential convoy has not left us behind.
We are meters from the border of Liberland, an unrecognized micronation of crypto fans claiming a piece of land between Croatia and Serbia on the Danube river. At just seven square kilometers — 2.7 square miles — the piece of land is roughly the size of Gibraltar.
Liberland “president” Vít Jedlička explains it had not officially been claimed by either neighboring country, making it terra nullius — nobody’s land — when he planted a flag there on April 13, 2015.
Microsoft, Tencent and other tech giants join Decentralized Infura Network
Infura said the partnerships mark a major milestone in decentralizing and making its network more censorship-resistant.