Connect with us

24/7 Cryptocurrency News

Here’s Why Crypto Market and Stocks Falling Suddenly?

Published

5 hours ago

on


Bitcoin, Ethereum, Solana, XRP and the wider crypto market fell suddenly on Tuesday as Russian President Vladimir Putin signed a decree allowing wider use of nuclear weapons. Stock markets around the globe also saw sharp fall amid the reports. The move comes in response to US President Joe Biden’s authorization to Ukraine to strike Russia with US missiles.

Putin Approves Nuclear Decree, Dumps Stocks and Crypto Market

On November 19, Russian President Vladimir Putin signed a decree allowing Moscow to use nuclear weapons against a non-nuclear state if it is supported by nuclear powers. “Any attack by a nation in a military bloc will be considered an attack by the entire bloc,” as per the reports.

Russia Vladimir Putin Nuclear Decree Russia Vladimir Putin Nuclear Decree
Source: TASS

Stock markets around the world fell suddenly, reversing recent gains and creating a panic selling. Joe Biden’s approving Ukraine using missiles inside Russia has washed away President-elect Donald Trump’s push to bring peace between the nations.

The crypto market saw a selloff in the last few hours as longs were liquidated, as per Coinglass data. Bitcoin (BTC) and Ethereum (ETH) saw a nearly 0.50% drop, while altcoins XRP, Dogecoin (DOGE), Cardano (ADA) and others saw a more than 1% drop in an hour.

PNUT, RAY, XTZ, AKT and other recent gainers were the leading losers in the last few hours. PNUT price dropped 5% to $1.68.

Will Further Panic Trigger BTC Price Selloff to $82K?

US stock futures tied to S&P 500, Dow Jones Industrial Average and Nasdaq Composite also fell as trades took cues from European stock markets.

CoinGape reported that Bitcoin on-chain metrics and market sentiment suggested a 10% correction to drop to $80,000. The next key Bitcoin support zones are at $85,800-$83,250 and $75,520-$72,880.

Moreover, profit bookings are expected as the Crypto market fear and greed index indicates extreme greed, which could result in profit booking.

CryptoQuant CEO Ki Young Ju revealed that 99.3% of UTXOs are in profit now. “Everyone’s happy. This euphoric phase typically lasts 3–12 months (except Nov ’21 bull trap).”

ImageImage

BTC price fell 0.86% in the past 24 hours, with the price currently trading at $$91,274. The 24-hour low and high are $89,393 and $92,596, respectively.

✓ Share:

Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

24/7 Cryptocurrency News

Meme Coin Trader Records $3M Profit With ELIZA Trading Amid Launch Controversy

Published

2 hours ago

on

November 19, 2024

By


In an unprecedented turn of events, a meme coin trader garnered significant attention, trading the newly launched ELIZA token amid its launch controversy. On-chain data on Tuesday pointed out that a trader made a remarkable $3 million profit with the abovementioned token. Simultaneously, with another trader making massive trades amid the crypto’s recent launch, speculations of the token being controversial surface across the horizon.

Meme Coin Trader Makes $3M With ELIZA, Insider Or Smart Money?

According to data offered by Lookonchain on November 19, a meme coin trader turned $1.9K into $3.67M in just 2 hours, underscoring a staggering 1,925x return. Per the data, the address ExYQ spent 7.84 SOL, worth $1.9K, to buy 89.19 million ELIZA. Thereafter, the trader sold 49.49 million of the same token for 7,091 SOL, worth $1.72 million. Meanwhile, it’s noteworthy that the trader’s remaining holdings totaled 39.7 million coins, worth $1.95 million. Altogether, these trades reflected a remarkable profit-making strategy, garnering significant market attention to the token.

In another similar chronicles, crypto whales took action amid the recent bull market to book massive profits. Notably, a crypto trader turned $33K into $12.2 million in just 24 days by trading the newly launched token ai16z. Moreover, another crypto whale nabbed a $6 million profit with MANTRA (OM). These profit-making strategies sparked significant market discussions amid a bullish crypto market.

On the other hand, another trader was recorded heavily dumping a token, thereafter funding the abovementioned token. As per an X post by the renowned crypto enthusiast Nate Rivers, the wallet address GxkX.. heavily dumped another token with the same name launched via vvaifu.fun platform, thereby funding the newly launched ELIZA. Scoping in on this trade swap, Nate tagged crypto investigator ZachXBT, anticipating a suspicious trade. Notably, the wallet address belongs to ai16zdao’s managing partner, Logan.

What’s The Controversy?

Amid the notable profit booked by the meme coin trader, Shaw, another partner at ai16z, took to X, clearing the air around ELIZA. Shaw stated that the initial launch for the token was planned for last Friday. However, it was rescheduled for Monday. Nevertheless, another token with the same name was launched on the same day by unknown creators. “They contributed to our treasury, and used the vvaifu.fun platform,” Shaw added.

Shaw’s team coordinated with vvaifun-launched token creators so that the newly launched ELIZA token does not face severities. “They were pretty bummed about this, obviously, but agreed to work with us,” Shaw added. These statements offered a clear tint that ai16z was behind the newly launched token, while Logan’s investment swap soaked the coin in controversy.

Shaw concluded by saying, “What would you do? If you worked on a project, planned it, resourced engineers and backers and video production and everything for it, and then someone took the art you made and used it to make a meme coin that everyone thought was yours?” This chronicle has in turn ignited a wave of speculations, especially with shifting investors’ focus towards the leading meme coins.

✓ Share:

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.





Source link

Continue Reading

24/7 Cryptocurrency News

Metaplanet Buys More Bitcoin As MicroStrategy Acquired 51,780 BTC

Published

8 hours ago

on

November 19, 2024

By


Japanese public-listed firm Metaplanet announced its latest purchase of 124 Bitcoins for an investment value of 1.75 billion Japanese Yen on Tuesday. With this, the company’s Bitcoin holdings have now surged past 1,100 BTC with its stock price gaining a massive 15% today. Moreover, the firm has been rightly adopting MicroStrategy’s Bitcoin adoption blueprint for its recent BTC purchases.

Metaplanet Purchases More Bitcoin, Stock Shoots 15%

Metaplanet CEO Simon Gerovich has announced the acquisition of an additional 124.117 BTC for 1.75 billion yen. The latest BTC purchase happened at an average Bitcoin price of 14,099,600 yen per BTC. As of November 19, 2024, Metaplanet’s total Bitcoin holdings stand at 1,142.287 BTC, acquired for approximately 11.372 billion yen. Also, the average acquisition cost comes at 9,955,874 yen per BTC.

ImageImage

This strategic acquisition by Metaplanet has shot up the company’s quarterly-to-date (QTD) Bitcoin yield of 186.9% Interestingly, this development comes a day after MicroStrategy purchased 51,780 BTC for a staggering investment of over $4 billion.

Soon after the announcement, the Metaplanet stock price surged more than 14% shooting past 2,300 JPY levels in a massive bullish breakout past the critical resistance of 2,000 JPY. This sets the stage for the stock to rally an additional 30% to its 2024 high of 3,000 JPY.

Courtesy: Yahoo Finance

On Monday, the Japanese firm announced its bond sale to buy more BTC. Similarly, MicroStrategy has been doing MSTR stock buyback to fund its BTC purchases, after a massive 400% rally in 2024 so far. The Japanese firm has also adopted Michael Saylor’s Bitcoin playbook thereby benefitting the company’s balance sheet as well as its shareholders.

MicroStrategy Creates Snowball Effect

Dylan Leclair, the Bitcoin acquisition strategist for Metaplanet, has highlighted a paradigm shift in corporate strategies. He stated that Bitcoin is the new “stock buyback” for Wall Street. “Wall Street has been put on notice,” LeClair stated.

He further stressed that the adoption of Bitcoin by major institutions happens through the long-anticipated game theory dynamics in the financial world.

Besides, Michael Saylor’s open sharing of the Bitcoin playbook created a snowball effect. Along with MicroStrategy, Marathon Digital and Semler Scientific announced their Bitcoin purchases and acquisition plans ahead. Not to forget, trillion-dollar tech giant Microsoft will hold a shareholders’ vote in December, regarding the decision to put Bitcoin on its balance sheet.

As of press time, the BTC price is trading 1.33% up at $91,763 with a market cap of $1.816 billion. A daily close above $91,900 will likely set the stage for a rally to $100K.

✓ Share:

Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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.





Source link

Continue Reading

24/7 Cryptocurrency News

Cardano Founder Charles Hoskinson Discusses Midnight and XRP With Ripple CTO

Published

11 hours ago

on

November 19, 2024

By


Charles Hoskinson, the founder of Cardano, recently engaged in a technical conversation with Ripple CTO David Schwartz, sparking curiosity in the blockchain community. The discussion centered around Midnight, a privacy-focused blockchain project, and XRP, Ripple’s digital asset. Both leaders shared insights and perspectives in what was described as an engaging and collaborative interaction.

Cardano Founder Engages Ripple CTO on Midnight and XRP

According to a recent post on X (formerly Twitter), Cardano founder Hoskinson and Ripple CTO David Schwartz discussed Midnight’s advanced privacy technology and XRP’s growing role in blockchain innovation. Midnight is designed to enhance secure data handling while adhering to regulatory compliance. Hoskinson expressed his enthusiasm for Midnight’s potential to drive privacy-centric decentralized applications (dApps) and further blockchain development.

Similarly, Ripple CTO David Schwartz described Midnight as “extremely interesting” and noted its innovative approach to privacy and scalability. The discussion also touched on XRP’s use cases, including its growing adoption in cross-border payments. Schwartz emphasized the importance of building scalable and efficient blockchain solutions to solve real-world problems.

Reacting to the engagement, Cardano founder noted, 

“It was great talking to David Schwartz about Midnight and XRP. Wonderful technical conversation.”

Additionally, recently Charles Hoskinson confirmed his plans to collaborate with the U.S. government under Donald Trump’s administration to shape crypto legislation. Hoskinson aims to promote bipartisan support for blockchain-friendly regulations, emphasizing the need for clear guidelines.

This collaboration with Cardano founder will create a unified blockchain industry capable of addressing regulatory challenges while advancing technological innovation.

These developments come amid recent discussions between Hoskinson and Ripple CEO Brad Garlinghouse, further fueling speculation about a possible Cardano and Ripple collaboration. Hoskinson’s remarks and his praise for Ripple CEO suggest a mutual commitment to tackling shared challenges in the blockchain space

Technical Insights Into Midnight and XRP

Midnight, a privacy-focused sidechain of the Cardano blockchain, leverages zero-knowledge cryptography to enable secure and private transactions. The Midnight testnet, which went live last month, allows developers to explore dApps emphasizing data protection and privacy. The Compact programming language, integrated with TypeScript, enables developers to build decentralized applications seamlessly.

On the XRP front, Ripple is gaining momentum with its upcoming ETF application filed by Bitwise Asset Management. Pro-XRP lawyer Jeremy Hogan projected mid-2025 as a likely timeline for the ETF decision recently. XRP has also experienced its first major price breakout in two years, hitting a three-year high, signaling renewed investor confidence.

In addition, XRP has seen a surge in trading activity, marking its first price breakout in two years. XRP price reached a three-year high, driven by optimism surrounding Ripple’s legal victories and the potential approval of the XRP ETF. Market analysts attribute this rally to growing institutional interest and a favorable shift in regulatory sentiment. 

✓ Share:

Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon