Coinbase has removed Bitcoin SV (BSV) from the platform as Bitcoin appears to have a strong price signal. Here are some breaking news from the cryptocurrency market.
Bitcoin (BTC) has become a leading digital asset and often serves as an indicator of the industry’s trajectory. With the current cycle showing a combination of regulatory developments, macroeconomic factors and technical setups, a growing number of analysts are issuing bullish forecasts for leading assets.
One famous story revolves around Bitcoin’s past price performance following its cycle lows. Analysts were quick to highlight a series of events that could lead to a significant increase in Bitcoin’s price. The possibility of a Bitcoin ETF being approved is at the forefront of these events, promising to bridge the gap between the traditional finance and cryptocurrency sectors.
Additionally, the upcoming Bitcoin halving in April, which will reduce the supply of new Bitcoins by halving the reward for mining new blocks, acts as a catalyst for price increases. Anticipation of the event tends to fuel optimism as supply shortages take center stage.
Additionally, there are signs that the Fed may be approaching peak interest rates amid a tightening monetary policy environment. This shift could encourage risk-taking behavior from investors, often benefiting assets like Bitcoin.
Bitcoin Price Chart | Source: TradingView
Turning to technical analysis, the Bitcoin chart shows the possibility of a bullish flag pattern forming, a signal that often leads to a breakout. Immediate local resistance lies near the upper trendline of this flag pattern. A convincing break above this level could open the door to a retest of higher resistance.
Meanwhile, strong support at recent lows provides safety against a potential recession. These support areas are important to maintain the bullish structure of the current trend.
Gemini’s UK branch will limit Cryptocurrency transfers for registered Virtual Asset Service Providers (VASPs) and Virtual Asset Service Providers (TRUST) as of November 17th.
The exchange attributed its decision to Travel Rule regulations, which require VASPs to share sender and recipient information for cryptocurrency transactions.
“In the UK, travel rules apply to all transactions, requiring VASPs to share data such as sender and recipient names and cryptocurrency addresses. The specific information required may vary depending on the risk profile of the transaction.”
To meet these requirements, the exchange has partnered with TRUST, an industry-focused solution that facilitates information sharing and combats fraudulent activities in the crypto industry.
The leading DeFi lending protocol Aave community is about to launch vote Recommendations for fixing recently discovered security vulnerabilities in v2 and v3 deployments.
The proposal would also restart some markets that were suspended on November 4 due to the agreement.
BGD Labs, composed of web3 developers and Aave contributors, released the proposal on November 7, and voting will begin on November 8.
Voting ends on November 11th. The proposal involves all pools offering stable interest rates in addition to variable rates to borrowers, thus ending the minting of new debt-stabilizing tokens.
Paxos released the October PYUSD Transparency Report, disclosing unaudited data as of 05:00 on November 1.
The report includes:
- The total amount of outstanding tokens is approximately $158,956,937;
- The current market value of the collateral in the U.S. Treasury repurchase agreement is $162,719,629;
- The current market value of collateral on other cash deposits held by the custodian is $1,944;
- The current market value of mortgage assets in total net assets is US$162,721,573.
AI innovator Illia Polosukhin will oversee the development of the open source network ecosystem NEAR and guide the team to leverage NEAR as a foundation for building dApps.
Illia Polosukhin, founder of the NEAR blockchain protocol, has joined the non-profit NEAR Foundation as CEO.The organization’s official statement let me knowChris Donovan will serve as chief operating officer.
Polosukhin emphasized the importance of the new appointment and emphasized that optimizing processes within the NEAR ecosystem will be his top priority.
Donovan will also continue to serve on the NEAR Foundation Board of Directors. Marieke Flament, CEO of the NEAR Foundation since the first quarter of 2021, announced her resignation in September.
British web3 infrastructure company Pimlico has mobilization Raised $4.2 million in seed round investment led by a16z crypto. The company said it plans to use the funds to expand its business.
Pimlico aims to enhance Ethereum with smart accounts adopting ERC-4337, a token standard that supports account abstraction, with the ultimate goal of making Ethereum easier to use and adding more execution methods.
Smart Accounts introduce fully customizable logic, unlocking features such as gas fee financing, paying gas fees with ERC-20 tokens, better account recovery, FaceID or password verification, and more.
Shiba Inu News
according to notify On November 7, Shib Wallet will launch an improved feature set, including a forget-proof recovery system and email-based login functionality.
This upcoming wallet service aims to enhance user experience by solving some common challenges related to digital asset management.
Ahead of the launch, Shib Wallet announced new recovery features that differ from its reliance on traditional mnemonic phrases.
Users will be able to restore their wallets using multi-factor authentication, a method that provides security for users who forget their credentials.
Klaytn Foundation is South Korea’s leading Layer-1 blockchain platform symbol Signed a memorandum of understanding (MOU) with Indonesia-based multinational PT PELAYARAN KORINDO and global CeDeFi protocol NEOPIN to develop the tokenization of real world assets (RWA).
Through their joint expertise in Web3 Finance, the platform and NEOPIN plan to launch the RWA tokenization industry in Asia by developing a reliable and practical RWA tokenization business model, starting with the tokenization of ship-related assets held by PT Pelayaran Korindo. Monetization.
The global ship financing market was worth $525 billion last year, including transactions conducted by banks and other traditional financial institutions, according to market research firm Petrofin Research. In addition, the global market share of the Asia-Pacific region (APAC) increased rapidly from 40% last year to 44%.
Japanese Animoca brand Announce Established a strategic partnership with NFT series Cool Cats to expand Web3 to the Japanese animation market.
On the evening of November 7, 2023, the Japanese branch of Animoca Brands, a “big guy” from Hong Kong who specializes in incubating Web3 and game NFT projects, and its NFT platform KLKTN announced a strategic partnership with Cool Cat Group to bring Web3 coverage into the “Rising Sun” “land” animation market.
In the announcement, Animoca Brands Japan also said it had acquired shares in Cool Cats Group. Animoca’s NFT company KLKTN also purchased a large number of NFTs in three series of Cool Cat, Shadow Wolf and SideKX through San Francisco Tokyo (KLKTN’s virtual “decentralized city”).
Bitcoin SV News
Coinbase (COIN) is Require Its users have until January 9 to remove Bitcoin SV (BSV) from the platform or face liquidation.
Coinbase’s announcement stated: “If users do not withdraw BSV, Coinbase will liquidate the remaining BSV in the account.”
Bitcoin SV, said to be a pure Bitcoin (BTC) version with the “Satoshi Vision”, fell 1.74% after the news broke. However, the token has very little trading volume in the market, with a daily trading volume of $29.5 million and a market capitalization of $945 million.
Both Gate and Kucoin exchanges have it Announce SATS goes public.
SATS is the BRC-20 with the largest number of addresses currently. Minting took several months and the price has increased by 360% in the past 7 days.
Deposits on Gate are activated at 16:00 today (Vietnam time), and trading is activated immediately when deposits meet liquidity requirements.
The BRC-20-based ORDI token has seen a spike in trading volume and price after the Binance exchange fixed a recommendation error in its listing announcement.
ORDI’s trading volume increased by 2,450% overnight, with total overnight trading exceeding $600 million. Although ORDI is a token outside the 100 largest assets by market capitalization, its trading volume has reached the top 12.
ORDI Chart – 4 Hours | Source: TradingView
The price of ORDI has also gone parabolic, surging 84% and currently falling to around $12.80, cementing its status as the pioneer token launched on the BRC-20 protocol.
In a previous listing of ORDI, Binance announced that the exchange mistakenly stated that ORDI was listed as a token of the Ordinals protocol, rather than specifically listed as BRC-20.
On the evening of November 7, the modular blockchain project Avail, explain A testnet was deployed to provide “rewards” to validators and early adopters who test Avail solutions and provide feedback.
Avail is a modular blockchain, which means that additional layers are developed to perform blockchain tasks such as consensus, security, and data availability, rather than handling all of these tasks on one main layer.
Avail’s operating model is very similar to Celestia, a modular blockchain project that just released the TIA token in October 2023.
Along with the announcement of the testnet deployment, Avail is inviting validators and node operators to join the network and complete tasks to receive “rewards” and other benefits when the project’s mainnet launches, which the project expects to do “in a few months.”
SEBA Cryptocurrency Bank Receives Hong Kong License
Swiss cryptocurrency bank SEBA Bank has received permission from the Hong Kong Securities and Futures Commission to allow its subsidiary to operate cryptocurrency-related services in Hong Kong.
SEBA said today that the license allows SEBA Hong Kong to trade and distribute all securities with underlying virtual assets, including virtual asset-related products such as over-the-counter derivatives and structured products.
Cryptocurrency banks can also provide advice on securities and virtual assets and perform asset management on discretionary accounts in the traditional securities and virtual asset sectors.
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