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Toncoin Melts Down Despite TON Network’s USDT Milestone

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2 days ago

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The TON Network is evolving at a very fast pace, with enablement from Tether (USDT). The duo inked their partnership in April this year, charting a positive bullish growth curve from that time to date. According to data from CryptoQuant, the USDT on TON Network has now officially crossed the $1 billion milestone.

Tether USDT and the TON Network – The Power Duo

Both Tether and TON are dominating different aspects of the market in their own rights. While Tether issues the industry’s biggest stablecoin, TON Network powers a new generation of Decentralized Applications (DApps) on Telegram.

Per the CryptoQuant data, USDT on TON has grown by 670% in the past 6 months. In May, the stablecoin on the protocol had a valuation of $130 million. Today, the actually locked USDT comes in at $1.02 billion.

Per the chart shared by CryptoQuant, the USDT supply on TON Network has flattened out from September to date. The explosion hinges on the growth in its Decentralized Finance (DeFi) ecosystem. Data from DeFiLlama shows that its Total Value Locked (TVL) is now pegged at $720 million.

This metric is bound to continue its upward trajectory with current plans between the protocol and Tether. As reported earlier, Tether confirmed it will launch Dirham-backed USDT on TON to drive liquidity in the Middle East. With this new fiat integration on TON, the liquidity will grow ultimately to trigger a potential uptick for USDT circulating on it.

The Telegram Ecosystem Mini Game Impact

Part of the success of the TON Network over the past year revolves around the Telegram mini-apps.

From Notcoin (NOT) to Catizen (CATI) and Hamster Kombat (HMSTR), the hype around this project drove massive capital onchain. While most of these projects are considered huge successes, a few, like Hamster Kombat dissapointed the community with its airdrop.

Many considered the T2E era is fading off, however, these games evolution might help solidify the growth on TON in the long term. In all these, Toncoin remains the biggest gainer, soaring to the top 10 list of most capitalized coins earlier this year.

As of writing, the coin was changing hands for $4.88, down by a mild 0.16% in 24 hours. Despite this correction, an earlier Toncoin price analysis predicts the possibility of topping $20 this bull cycle.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin-focused NiceHashX Conference Happening This Week

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35 mins ago

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November 5, 2024

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Bitcoin has teased the prospect of a fresh all-time high in recent weeks, and now the world’s best-loved cryptocurrency is in the spotlight once again. This time it’s the subject of a two-day conference organized by leading hashrate marketplace NiceHash, set to get underway in Slovenia’s charming city of Maribor on November 8.

The event, NiceHashX, was put together to commemorate both the platform’s 10th anniversary and Slovenia’s emergence as a European crypto powerhouse. And the timing couldn’t be more significant: the conference coincides with expected heightened market activity following the U.S. presidential election three days earlier. 

Sunny Side of the Alps

In recent years Slovenia has established itself as a European blockchain hub. In fact, it’s second only to Switzerland – home to the so-called Crypto Valley in Zug – in terms of web3 startups. With NiceHash leading the charge from its Maribor offices, the Central European country has witnessed remarkable adoption rates and projections suggest a fifth of the population will be using digital assets by 2028.

It’s perhaps unsurprising, then, that Maribor has been chosen as the venue for NiceHashX. Not only is the quaint city home to the hashrate marketplace, but it provides a picturesque backdrop in the form of the Pohorje Mountains.

Christened the ‘Bitcoin Conference on the Sunny Side of the Alps,’ NiceHashX will feature numerous high-profile speakers including BTC maximalist Saifedean Ammous, bestselling author of The Bitcoin Standard, BTC Prague conference CEO Martin Kuchař, and Bitcoin FilmFest Co-founder Pierre Corbinand. In addition to an expo area, there will be three main stages, numerous side events, and an official after-party with a VIP dinner and music show. 

“We are delighted to welcome the world to discover how Slovenia is leading the way in European Bitcoin adoption,” says NiceHash CEO Vladimir Hozjan. “With 10 years of experience in this industry, we have witnessed phenomenal growth in the interest of using Bitcoin, here in Maribor and around the country. Join us as we celebrate, and witness Bitcoin in its purest form, used by everyday people, alongside some of the brightest speakers in the industry.”

Interestingly, NiceHash has developed a BTC payment solution that will be showcased at the event as well as in the city, an innovation that underscores its commitment to promoting adoption. Ticket prices range from just €21 to €2,100 for the bells-and-whistles VIP package.

NiceHash is a perfect example of Slovenia’s crypto-friendly status. From its humble beginnings as a project by two enterprising university students, the platform, which pairs buyers and sellers of hashpower, has grown to serve over 2.5 million users – including 250,000 daily active miners. Earlier this year, it made waves by launching the world’s first fully automated Lightning Network payouts for the latter cohort. Over 1,000 Slovenian businesses already accept BTC as payment.

Candidates Covet Crypto Vote

In recent months, the U.S. presidential race has brought crypto policy into sharp focus. Both Trump and Harris have made overtures to the Bitcoin community, marking a notable shift in mainstream political discourse around digital assets.

Donald Trump’s appearance at this year’s Bitcoin Conference included bold promises to make the United States the “crypto capital of the planet and the Bitcoin superpower of the world.” While her rhetoric has been less overt, Democrat hopeful Kamala Harris has pledged support for cryptocurrency regulation.

Whoever wins the race for the White House, NiceHashX promises to be a lovefest for members of the Bitcoin community, from developers and entrepreneurs to freedom-loving citizens only too happy to exit fiat in favor of ‘digital gold.’

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Wanes To $68K, Altcoins Flux, & DOGE Up 6%

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4 hours ago

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November 5, 2024

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Crypto prices today have set off waves of concerns among market participants globally. Bitcoin (BTC) price waned to the $68K level over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP prices witnessed a falling action. Simultaneously, the global crypto market cap dipped 0.99% at press time, reaching $2.23 trillion. However, the total market volume witnessed a 12.5% increase in value to $82.04 billion.

Besides, Dogecoin (DOGE) emerged as the day’s top market gainer, defying the broader market sentiment. So, let’s delve deeper into some of the major crypto prices today, November 5.

Crypto Prices Today: BTC, ETH, SOL, & XRP Face Volatility But DOGE Soars

The crypto prices today illustrate that BTC and top altcoins are mainly battling market turbulence. However, coins like DOGE and Monero have defied the broader trend. Simultaneously, it’s worth mentioning that the meme coins sector also witnessed mixed price actions. Here’s a brief report on some of the leading coins by market cap and their price run today.

Bitcoin Price Today

BTC price dropped nearly 2% in the past 24 hours and is now trading at $68,006. The coin’s intraday low and high were recorded as $66,803.65 and $69,335.33, respectively. Bitcoin’s market cap rested at $1.35 trillion today. The flagship crypto’s slumping action falls in line with a remarkable $579.49 million worth of outflows in spot ETFs as of November 4, per Sosovalue data that excluded BlackRock’s IBIT. Further, BTC’s market dominance slipped 0.45% over the past day to reach 60.38%. Meanwhile, Mt. Gox was recorded as moving $2.2 billion worth of BTC amid this slumping movement, hinting at asset reorganization movers for creditor repayment.

Ethereum Price Today

ETH price slipped nearly 2.5% in the past 24 hours and is currently trading at $2,414. Its intraday low and high were recorded as $2,359.58 and $2,483.05, respectively. Ethereum’s market cap rested at $290.71 billion today. Notably, even ETH’s waning run aligns with $74.24 million worth of outflows in spot Ethereum ETFs, excluding BlackRock’s ETHA data. Meanwhile, CoinGape Media reported the State of Michigan purchased more than $11 million worth of ETH through ETFs, garnering attention toward the crypto.

Solana Price Today

SOL price tanked nearly 3% in the past 24 hours and is now trading at $158. The coin’s 24-hour low and high were recorded as $155.17 and $164.71, respectively. SOL’s market cap was evaluated as $74.82 billion today. Further, Solana was reported to have witnessed a remarkable surge in transactional volume and fee generated on the network during October.

XRP Price Today

Simultaneously, XRP price witnessed a 0.5% drop in value over the past day and is now trading at $0.5048. The coin’s 24-hour low and high were recorded as $0.4968 and $0.5138, respectively. XRP’s market stood at $28.70 billion today. Further, a recent CoinGape report revealed that the XRP coin eyes a $10 price target amid declining escrow stakes.

Meme Coins Performance Today

Notably, Dogecoin (DOGE) emerged as the day’s top gainer, surging 6% intraday to reach $0.1616. Also, even Shiba Inu (SHIB) price gained roughly 2% intraday to $0.00001727. However, Pepe coin (PEPE), dogwifhat (WIF), and POPCAT prices tanked 2%-8% in the past 24 hours.

Top Crypto Gainers Prices Today

Dogecoin

As mentioned above, DOGE emerged as the day’s top market gainer with an intraday low and high of $0.1496 and $0.1659, respectively. DOGE price traded at $0.1616.

Monero

XMR price gained nearly 2% over the past day and is currently trading at $160. The coin’s 24-hour low and high were $156.69 and $161.54, respectively.

Mog Coin

MOG price soared roughly 3% in the past 24 hours and is now trading at $0.000001788. Its 24-hour low and peak were $0.00000165 and $0.000001789, respectively.

Top Crypto Loser Prices Today

THORChain

RUNE price cracked 12% over the past day and is currently sitting at $4.40. The coin’s intraday low and high were $4.23 and $5.07, respectively.

Pendle

PENDLE price slipped nearly 9% over the past 24 hours and is trading at $4.12. The coin’s intraday low and high were $4.05 and $4.56, respectively.

Cat in a dogs world

MEW price tanked 6% intraday and is now trading at $0.007879. The coin’s 24-hour low and high were $0.00765 and $0.008443, respectively.

Besides, the hourly time frame charts sparked further optimism over the crypto prices today as BTC gained 0.4% while ETH gained 0.3%.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Dogecoin May Benefit Most From A Donald Trump Victory

Published

7 hours ago

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November 5, 2024

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The Dogecoin price is the biggest gainer among the top cryptos by market cap on the eve of the US election. This says a lot about how the foremost meme coin could benefit most from a potential Donald Trump victory, especially with Elon Musk’s involvement.

Why Dogecoin Could Benefit The Most If Donald Trump Wins

Crypto analysts have provided a bullish outlook for Dogecoin and suggested that the meme coin is in the best position to benefit from Donald Trump’s potential win in the US presidential elections. In an X post, crypto analyst and trader Satoshi Flipper predicted that the top meme coin could rise to $1 if Trump wins.

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He made this prediction while remarking that Elon Musk and the US government (under the Trump administration) will post above about the Department of Government Efficiency (D.O.G.E) non-stop for the next four years. Musk’s proposed D.O.G.E has pumped the DOGE price several times, especially whenever the world’s richest man referred to it, including at a Pennsylvania town hall last month.

D.O.G.E, a term Musk coined, could be his way of indirectly shilling the meme coin in this bull run. The world’s richest man has never hidden his fondness for the meme coin because he likes memes and dogs.

Interestingly, Musk recently posted a meme in which he joked about mainstream media having to cover D.O.G.E. At the same time, he remains silent and doesn’t even have to shill the meme coin since the media will be doing the job for him. Dogecoin co-founder Billy Markus replied to the post, saying that was why he is most excited about a potential Trump victory.

DOGE is The Most “Strategically Positioned” Crypto

In an X post, Crypto analyst Master Kenobi said that he believes Dogecoin is the most strategically positioned crypto asset. He mentioned Elon Musk’s D.O.G.E proposal and alluded to its impact on the meme coin. He remarked that the department could indirectly impact the meme coin, which the analyst claimed would be “super interesting and super funny.”

Master Kenobi further asserted that he is confident that Elon Musk will make other bold moves regarding how he shills Dogecoin in this bull market. The analyst envisages a scenario where Musk puts a DOGE sticker on SpaceX and sends the meme coin literally to the moon.

Meanwhile, crypto analyst Kevin Capital revealed a bullish pattern forming on DOGE’s chart ahead of the US election. The analyst noted that the daily and weekly golden cross is pending for the meme coin right before a potential Trump victory and implementation of the D.O.G.E. department.

In the meantime, these bullish patterns forming for DOGE and the price rally ahead of the US elections show that traders are betting massively on the meme coin being one of, if not the biggest, gainers from a Donald Trump victory.

The latest Polymarket data shows that Trump’s odds of winning have surged just before tomorrow’s elections. The former US president has a 57.7% chance of becoming the next president. Meanwhile, Kamala Harris’ odds are at 42.3%.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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