Bitcoin in extremely bullish territory with news from Ripple, SushiSwap, Stablecoin, AI, Gemini, Cardano, Polygon, Arbitrum, Llama, Glassnode, Blockpit

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From Bitcoin looking very positive with adoption exceeding $34,000, to Meta not allowing political campaigns and advertisers to use synthetic AI advertising tools. Here are some breaking news from the cryptocurrency market.

Bitcoin News

An analyst who predicted a bull run in the cryptocurrency space earlier this year says Bitcoin (BTC) looks very bullish as adoption of the leading digital asset passes $34,000.

Anonymous analyst DonAlt told his 507,900 followers on media platform X that Bitcoin is currently trading between $32,000 and $60,000.

Bitcoin is trading above the bottom of the $32,000 range, indicating that bulls are in full control.

“Solid acceptance of the bottom range. As long as $32,200 levels hold, the market will be extremely bullish. If we lose the bottom of the range, then we can start talking about a pullback.”

Source: DonAlt

The top trader previously said that Bitcoin does not have high time frame resistance before hitting $60,000.

Ripple News

Surprisingly, the famous blockchain company Ripple did it move 60 million XRP worth $42.83 million was deposited into an undisclosed wallet.

The transfer comes amid a flurry of activity in the XRP market, with the digital asset experiencing significant volatility.

Just yesterday, XRP enthusiasts saw its value surge by 8.2%, pushing the asset to its highest level since July. The coin peaked at $0.7324 before a minor correction led to an 11% price drop.

Sushi Swap News

Jared Gray, newly appointed CEO of SushiSwap propose Innovate and reform the token economic model to ensure the long-term success and growth of the platform.

The proposal addresses key challenges in the current model and provides innovative solutions focused on enhancing sustainability and diversifying revenue streams.

Key components of the program include core revenue from transaction fees, aggregation router revenue, potential staking rewards and strategic partnerships.

Stablecoin News

StabIR, a stablecoin startup founded last year, has announced a €3.3 million ($3.5 million) seed investment to build out its euro-based stablecoin business.

Deribit, Maven 11, Theta Capital, Folkvang and Blocktech all participated in this round of financing. The valuation has not been disclosed.

StabIR began issuing a euro-backed stablecoin called EurR on October 12 and said it minted more than 10 million tokens in the first month. The startup started operations more than a year ago, in August 2022.

exist notify StablR said it hopes to transform the stablecoin market by setting “new benchmarks for stability and trustworthiness.”

The startup highlighted some of the product’s core features. Officially registered as a virtual financial asset issuer in Malta; It will provide high visibility of its reserves through Chainlink’s on-chain daily reporting; Funds are completely isolated from the trust issuer and managed by independent asset managers.

Artificial Intelligence News

Meta, the parent company of Facebook and Instagram, not allowed Its synthetic artificial intelligence (AI) advertising tools are used by political campaigns and advertisers.

On November 6, Meta updated this decision. In a note explaining how it works, the company said it was testing new synthetic AI ad creation tools in its Ads Manager “targeting housing, employment or credit or social issues, elections or politics or related to health care, Drug or finance-related advertising campaigns currently do not allow the service to use these innovative AI features.”

However, Meta’s general advertising standards don’t have any specific rules about artificial intelligence, although it does prohibit ads from running on platforms that contain content deemed inappropriate by fact-checking partners.

gemini news

Cryptocurrency exchange Gemini, founded by business brothers Tyler and Cameron Winklevoss, is losing its chief technology officer, Bloomberg reports.

Pravjit Tiwana previously worked at Amazon and Disney; leave This month Gemini serves as chief technology officer. Tiwana also serves as CEO of Gemini APAC.

Gemini has been engaged in a protracted battle with Genesis and its parent company Digital Currency Group over the past few months. The U.S. Securities and Exchange Commission (SEC) also sued Gemini.

cardano news

Cardano is independent position We are a top 10 crypto chain contender by Total Value Locked (TVL).

Cardano’s significant monthly gains indicate growing investor demand for Ethereum and Solana alternatives.

Ethereum continues to lead with a TVL of $24.154 billion, despite a slight decline of 0.25% over the past day. Next is Tron and BSC.

Notably, Solana has gained 32.68% in the past month, indicating that investor confidence is recovering.

Cardano, despite being ranked 11th, has seen strong growth, with an impressive 53.22% increase in one month. It currently has a total locked value of $245.45 million, surpassing Bitcoin’s TVL of $238.75 million.

This growth may hint at possible changes in the DeFi system.

polygon news

Polygon is a famous blockchain network that caused a stir with its launch renew Impressive performance of recent network and native token MATIC.

Polygon zkEVM, a beta version of Ethereum’s zero-knowledge virtual machine, reached the milestone of 7 million transactions in one weekend. Just a few hours ago, MATIC hit a 4-month high of $0.7471.

Additionally, Polygon has seen a sharp increase in the number of daily transactions, up 60% in the past 90 days.

In Q3 2023, the DeFi space led the way in terms of the number of active addresses on the Polygon Proof-of-Stake (PoS) network, accounting for 57%. NFTs follow closely, accounting for 10%, and social applications account for 9%. This quarter, Polygon’s daily active addresses increased by 1.4% to 364,000, with the DeFi field playing a key role.

Arbitration News

The Arbitrum Coalition will monitor the impact of the staking mechanism over a 12-month period and provide quarterly updates and qualitative reports to the community.

Arbitrum’s Decentralized Autonomous Organization (DAO), a layer 2 scaling solution based on Ethereum pass The proposal allows users to participate in ARB staking in exchange for rewards.

The proposal was launched on October 30 and voting ended on November 6, with 66% of ARB holders supporting the proposal and 33% voting against it.

The Arbitrum DAO vault has grown dramatically and currently holds 3.54 billion ARB, with an additional 69 million unclaimed ARB stored in the network’s recent airdrop. The DAO saw fit to share the growth of the treasury with token holders, so the project proposed Staking.

camel news

Llama raised $6 million in a seed investment round.

according to Report, Llama raised $6 million in a seed round led by Founders Fund and Electric Capital. Other investors include blockchain Polygon co-founder Sandeep Nailwal and lending protocol Aave founder Stani Kulechov.

Llama is an on-chain governance and access control framework for smart contracts. The platform is designed to address a number of inefficiencies and security vulnerabilities that can lead to attacks and vulnerabilities that lead to poor performance or worse.

Glassnode News

Glassnode said it is canceling projects related to cryptocurrency taxation and instead focusing on new solutions for institutional investors and the decentralized finance (DeFi) space.

November 6, Glassnode notify Sold its cryptocurrency-focused tax platform Accointing to European cryptocurrency compliance provider Blockpit.

“Glassnode will exit the cryptocurrency tax space through the sale of Accointing to Blockpit,” the spokesperson said, adding that the deal allows the company to focus more deeply on providing Smart Solutions for new digital assets to its institutional clients.

Brockbit News

Austria-based crypto tax software provider Blockpit has made its second acquisition of Accointing in a “multi-million dollar” deal.

Already a mess repurchase According to Glassnode, the company originally purchased it in October 2022 for an undisclosed amount.

Blockpit CEO Florian Wimmer said it was a cash deal and there was no stock swap, adding that “it was all raised through shareholder debt.”

The acquisition follows the introduction of new EU crypto tax laws. Last month, the European Parliament passed new regulations called the Eighth Directive on Administrative Cooperation (DAC8). The rules force cryptocurrency companies to report client holdings, which are automatically shared among tax authorities.

EU member states have until December 31, 2025 to implement the regulations before they officially come into effect on January 1, 2026.

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