Following Donald Trump’s victory in the US presidential election and the Federal Reserve’s (Fed) 25bp cut on November 7, the inflow of stablecoins into cryptocurrency exchanges is rapidly increasing. ERC-20 Stablecoin Flood ExchangeAccording to data from market intelligence firm CryptoQuant, $9.3 billion worth of ERC-20 stablecoins were deposited into cryptocurrency exchanges following the results of the US presidential election on November 6. “This is the second largest inflow of ERC-20 stablecoins since they were first introduced,” CryptoQuant explained in a post to X on November 7. “Cryptocurrency markets are likely to experience another bullish rally if the current large inflows…
Author: Crypto Flexs
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Terrill Dickey November 8, 2024 04:10 The Stellar (XLM) Development Foundation’s Q3 2024 report highlights strong network growth, strategic investments, and key integrations strengthening the Stellar ecosystem. The Stellar (XLM) Development Foundation (SDF) has released its Q3 2024 report, outlining important milestones and developments as the year approaches, Stella said. The report is consistent with the foundation’s roadmap and highlights several key achievements. Network growth and investment The Stellar network has grown its user base significantly, surpassing 9 million addresses. The Enterprise and Matching Fund had a strong quarter, investing more than $5 million…
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XRP and DOGE are mixed on the charts of cryptocurrencies with market capitalizations exceeding $30 billion. Dogecoin’s dominance has been solidified as trading volumes surge across the market. While on-chain indicators are all bullish, DOGE is still 74% above its all-time high. Dogecoin (DOGE) continued its massive bull run in the days surrounding the US Presidential Election. With the price of Dogecoin crossing $0.20 for the first time since April 1, 2024, market observers were stunned by the massive trading volume of the largest proof-of-work (PoW) chain outside of Bitcoin (BTC).Dogecoin Switches Chair to Ripple’s XRPAn unusual change in the…
Bitcoin went on a price discovery spree, hitting an all-time high of $76,990 on Bitstamp just days after Donald Trump won the US presidential election. Several analysts predict that Bitcoin (BTC) will hit higher all-time highs as market participants anticipate a more cryptocurrency-friendly business environment during Trump’s presidency.Bitcoin price surpasses $100,000 after Trump’s election According to Ryan Lee, senior analyst at Bitget Research, the price of Bitcoin is likely to surpass $100,000 after an election victory. Lee said the high open interest (OI) on futures markets, coupled with the growing market dominance of stablecoins, suggests traders are bracing for higher…
If you are considering investing in cryptocurrency, you need to decide which digital asset you want to purchase. However, with so many options available, it can be difficult. Typically, beginners buy either Ethereum or Bitcoin, so we’ve explained the unique features of both to help you make an informed choice.Bitcoin: PioneerFounded in 2009, Bitcoin (BTC) is the first cryptocurrency that allows people to send money directly to each other without a bank. It uses blockchain technology to create a public record of all transactions, which are largely anonymous and unregulated.Bitcoin’s biggest appeal lies in its scarcity (there are only 21…
lawrence jenga November 8, 2024 04:35 Ethereum’s All Core Developers Execution Call #200 focused on Pectra devnet updates and the challenges of historical growth. Developers discussed EIP 7610 and PeerDAS testing. Ethereum protocol developers recently gathered for the 200th All Core Developers Execution (ACDE) conference, chaired by Tim Beiko of the Ethereum Foundation. According to Galaxy.com, these bi-weekly meetings are important for coordinating changes to the Ethereum execution layer. Pectra Devnet 4 and Mekong River Updates The meeting included updates on the Pectra and Mekong testnets. Parithosh Jayanthi of the Ethereum Foundation went live…
Shiba Inu (SHIB) has jumped over 78.50% year-to-date, reaching $0.0000191 on November 8, underperforming most of its top memecoin competitors such as Dogecoin (DOGE) and Pepe (PEPE), which are up over 115. % for the same period, 668%.DOGE/USD daily price chart. Source: TradingViewCurrently, a mix of technical and fractal indicators are showing potential for a rebound towards 2024 highs.What’s next, a 90% surge in SHIB prices?The first major sign of a SHIB price rise comes from the continued formation of a cup and handle pattern.The Cup and Handle is a bullish chart pattern, so named for its distinctive shape resembling…
Ethereum (ETH) could be preparing for a massive breakout against Bitcoin (BTC), a cryptocurrency analyst said. In a new strategy session, trader Michaël van de Poppe told his 733,600 followers on social media platform A bullish divergence, which suggests prices are about to start rising, occurs when an asset’s price is making lower lows while an indicator such as the Relative Strength Index (RSI), a momentum oscillator, is making higher lows. “Huge bullish differential for ETH. The entire Ethereum ecosystem is thriving (November 6).” Source: Michaël van de Poppe/X In an update, the analyst says ETH/BTC is starting to rise…
Key Takeaways BlackRock’s Bitcoin ETF saw record daily inflows of $1.1 billion. Total inflows into U.S. spot Bitcoin ETFs during this session amounted to $1.37 billion. Share this article BlackRock’s iShares Bitcoin Trust (IBIT) recorded inflows of $1.1 billion during a single trading session, the largest single-day inflow among U.S. spot Bitcoin ETFs. Total inflows across all Bitcoin ETFs during the session reached $1.37 billion.Source: Farside InvestorsBlackRock’s ETF dominated the day’s activity with inflows of $1.12 billion, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $190.9 million during the period.Significant ETF inflows coincided with Bitcoin’s price movement, which briefly reached…