Author: Oluwapelumi Adejumo

Since Nov. 12, the Bitcoin market has entered a section of great profit-taking, with each day realized earnings averaging round $5 billion — marking the very best revenue ranges in over a month, in accordance with CryptoQuant information.On Nov. 12, Bitcoin traders recorded $5.1 billion in earnings because the asset traded close to $88,000. By Nov. 13, earnings declined barely to $4.75 billion however rose once more to $4.8 billion on Nov. 14, with Bitcoin’s value reaching a brand new all-time excessive above $93,000.Bitcoin Web Realized Revenue (Supply: CryptoQuant)The exercise comes after Bitcoin’s latest rally above $90,000, which was fueled…

Three publicly traded firms — Thumzup Media Company, Solidion Expertise, and Genius Group — are gaining consideration by incorporating Bitcoin into their treasury reserves.These companies, every with a market capitalization beneath $50 million, are making daring strikes as Bitcoin continues to draw curiosity from each retail and institutional buyers following its current surge to an all-time excessive of greater than $93,000.Business chief MicroStrategy has already set the usual for making a Bitcoin reserve technique, reinforcing the flagship crypto’s place as a useful device for companies looking for long-term stability and development.Thumzup Media bets on BitcoinOn Nov. 15, Thumzup Media revealed…

Bitwise Asset Administration is getting ready to reinforce its crypto product lineup by changing the Bitwise 10 Crypto Index Fund (BITW) into an exchange-traded fund (ETF), in response to a Nov. 14 assertion.Bitwise revealed that NYSE Arca has filed to uplist BITW as the primary crypto index fund to realize ETF standing. This marks a major step in transitioning the $1.3 billion publicly traded belief into an exchange-traded product (ETP). Till the transformation is full, BITW shares will proceed buying and selling on the OTCQX Greatest Market.Launched in 2017, the BITW Fund gives a diversified portfolio of 10 main cryptocurrencies…

Bitcoin miners have moved greater than 45,000 BTC to exchanges since Nov. 12 as the highest crypto’s value surged previous $90,000.CryptoQuant knowledge reveals that on Nov. 12, miners offloaded round 24,138 BTC as Bitcoin neared the $90,000 mark. This motion marked the second-largest each day outflow from miners this 12 months.The subsequent day, miners moved an extra 15,840 BTC as Bitcoin reached a brand new file excessive above $93,000. The development continued into Nov. 14, with miners already shifting greater than 5,500 BTC as of press time.Altogether, miners have transferred 45,000 BTC, valued at over $4 billion based mostly on…

Delhi Police have made progress in investigating the $235 million breach of crypto change WazirX by arresting SK Masud Alam from Bengal.On Nov. 13, native media outlet IndiaToday reported that Alam allegedly arrange a faux account on WazirX below the alias “Souvik Mondal.” He reportedly bought this account by way of Telegram to an individual recognized as M. Hasan, who then used it to hold out the exploit.As a part of the investigation, authorities have confiscated three laptops belonging to WazirX’s licensed signatories to look at attainable misuse of multisig wallets.The cost sheet reveals that WazirX has been totally cooperative…

The US Division of Justice (DOJ) filed a civil forfeiture grievance to grab roughly $16 million in property from a Binance account linked to an FTX bribery case, in accordance with a Nov. 12 courtroom submitting.The Binance account, created in November 2023, comprises numerous digital property, together with Web Laptop (ICP), Avalanche (AVAX), Ripple (XRP), Cardano (ADA), and Solana (SOL).The account reportedly acquired deposits in stablecoins and Bitcoin nearly every day, which have been swiftly transformed to different property.Chinese language bribeIn line with the DOJ, former FTX CEO Sam Bankman-Fried allegedly authorised a $40 million bribe to Chinese language officers…

Bitcoin’s correlation with gold costs has fallen to its lowest stage in practically a 12 months following Donald Trump’s latest election victory on Nov. 5.In line with K33 Analysis, the 30-day correlation between Bitcoin and gold stands at -0.36, its lowest stage since December 2023. In correlation phrases, a worth of 1 signifies an ideal optimistic relationship, the place each property transfer in tandem, whereas -1 displays an ideal detrimental correlation, indicating they transfer in reverse instructions.Bitcoin and Gold Correlation (Supply: K33 Analysis)Traditionally, Bitcoin and gold have usually moved independently. This lack of constant alignment is obvious in latest worth…

Ethereum Basis researcher Justin Drake has launched a transformative proposal for a brand new consensus layer improve known as the “Beam Chain” throughout his Nov. 12 presentation at DevCon in Bangkok.The Beam Chain is a whole overhaul of Ethereum’s consensus layer, which might transfer the blockchain community nearer to its ultimate structure.Drake identified that the present Beacon Chain, which has been in place for 5 years, is outdated. Throughout this time, analysis and know-how have superior considerably, opening up new alternatives for enchancment in important areas, together with MEV (maximal extractable worth), advancing SNARK applied sciences, and tackling technical debt.Beam…

Tether has minted $5 billion price of the USDT stablecoin over the previous week amid Bitcoin’s rally close to the $90,000 milestone.Information from blockchain analytics platform SpotOnChain reveals that Tether started this collection of USDT issuances with $1 billion minted on Nov. 6, contributing to Bitcoin’s climb to a report excessive of $76,200.The agency then issued one other $2 billion USDT throughout Nov. 9 and 10, propelling Bitcoin previous the $80,000 mark. Earlier as we speak, Tether added one other $2 billion USDT, bringing the overall issuance over 5 days to $5 billion.This minting spree has boosted Tether’s market cap…

US Senator Cynthia Lummis stays hopeful that her proposal to determine a nationwide Bitcoin reserve might go inside the first 100 days of Donald Trump’s second presidential time period.On Nov. 11, Lummis shared on X that bipartisan backing might propel the invoice ahead if public assist strengthens. She argued that this laws would enhance the US monetary panorama and reinforce its standing as a forward-thinking chief within the Bitcoin house.In accordance with the lawmaker:“I consider we are able to get this finished with bipartisan assist within the first 100 days IF we’ve got the assist of the folks. It’s a…