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Which Crypto Coin Is Winning the Market Right Now?

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5 hours ago

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Memecoins are in the limelight in 2024, as many new meme-themed crypto coins amazed investors with constant gains. Many ruled investors’ portfolios, including Pnut and GOAT, with their bullish performance. More importantly, investors detected a new meme trend every new month, offering a diverse and profitable crypto market for investors.

In the past few weeks, investors witnessed GOAT and Pnut prices performance buzzing with gains. As a result, they are still trending among investors with favoring gains, which is common in the Solana memecoin category. With that, many questioned which is the winning asset at this time among these two.

Peanut The Squirrel and Goatseus Maximus Emerge as Top Crypto Coins

In the versatile crypto market, trends form and die easily, where newly launched crypto coins take over the older ones. At present, such trending cryptos are the Peanut the Squirrel and Goatseus Maximus, both with different characteristics but in the same category, grabbing investors’ attention.

Goatseus Maximus gained popularity with its connections with the Truth terminal, which became the first AI bot millionaire after pumping the GOAT coin price with constant promotions. The token is still moving with the market’s bullishness, maintaining its demand in the crypto market.

Similarly, the Peanut the Squirrel token has also emerged as the trending crypto with heavy returns on investment. This was a new squirrel-themed crypto, which even Elon Musk endorsed in one X post. As a result, the Pnut price has pumped 2987% ever since its launch.

Analyzing The Pnut Price Vs GOAT Price Performance

Peanut the Squirrel token was launched at the beginning of November 2024 with a listing price of $0.05217. Ever since then, the Pnut coin price has surged  2987%, currently trading at $1.65 with a market cap of $1.65B, making it the 62nd biggest crypto coin on CoinmarketCap. In just two weeks, it has become the crypto market sensation, with $1.43B in trading volume.

Pnut and GOAT Price PerformancePnut and GOAT Price Performance

On the other hand, the GOAT coin was launched in October 2024 and has surged 858% since then, currently trading at $1.04. Additionally, it has a market capitalization of $1.04B, making it the 82nd biggest crypto in the market, where its trading volume is $385.67M.

Which One is Winning Between These Two Crypto Coins?

Both the crypto coins are still performing well on the charts, attracting more investors. However, the trend is likely set down, with the Bitcoin price dropping from its earlier peak. As a result, the GOAT price has dropped 7% in the last 24 hours, moving 21% away from the ATH of $1.36 set in just two days.

This happened after the token entered an overbuying zone, leading to trend reversal after attaining the peak. In contrast, the Pnut price is recovering from the consolidation after hitting the ATH of $2.47 six days ago. However, despite that, it is 32% away from its prime.

At the time of reporting, both the crypto tokens are in a similar phase after attaining an early high. More importantly, these have further growth potential with their rising demand and upcoming bull run, both becoming the winners of this battle.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

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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Coinbase To Delist wBTC Trading Amid Justin Sun Increasing Influence

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1 hour ago

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November 19, 2024

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Coinbase has officially announced plans to suspend trading for Wrapped Bitcoin (wBTC) starting December 19, 2024. Users will retain the ability to transfer their wBTC tokens off the exchange even after the delisting. The crypto exchange stated that this decision follows routine asset reviews to ensure compliance with its listing standards.

Coinbase Suspends wBTC Trading Amid Push For Exchange’s cbBTC

According to a recent post on X, Coinbase confirmed it will stop supporting Wrapped Bitcoin trading next month, though users will still have the option to move their tokens to external wallets. The exchange emphasized its commitment to maintaining a secure and compliant platform, explaining that the decision stems from its periodic reviews of listed assets.

In response, the WBTC team expressed its disappointment and surprise at Coinbase’s decision to delist Wrapped BTC. It emphasized its unwavering commitment to providing the most compliant, transparent, and decentralized BTC tokenization product. 

The team added, 

“We urge Coinbase to reconsider this decision and continue supporting WBTC trading. If you have any questions or suggestions, please feel free to reach out to us. We are more than willing to provide additional information to address any concerns.”

This development comes as the top crypto exchange increasingly focuses on promoting its proprietary wrapped Bitcoin product, cbBTC. The cbBTC token, introduced earlier this year, has rapidly gained traction and reached a market capitalization of $1.5 billion. This poses a direct competition to wBTC. The delisting decision coincides with cbBTC’s growth as a preferred tokenized Bitcoin solution.

In August, BitGo, the primary custodian of wBTC, announced it would relinquish partial control of the protocol to BiT Global and Justin Sun, founder of TRON. This partnership has led to widespread concerns across the crypto sector due to Sun’s controversial reputation and his growing influence over the ecosystem.

As part of the collaboration, custody responsibilities were distributed across multiple entities to enhance operational resilience. However, critics argue that Sun’s involvement raises questions about governance and compliance. This has prompted several platforms to reassess their stance on wBTC. For instance, MakerDAO imposed restrictions on minting its DAI stablecoin using wBTC as collateral, while Aave initiated active monitoring of the situation.

cbBTC Gains Momentum As Alternative

While wBTC faces scrutiny, Coinbase’s cbBTC has emerged as a strong competitor. Positioned as a centralized custodian product, cbBTC allows users to access Bitcoin liquidity on Ethereum and other blockchains. Coinbase has marketed cbBTC as a transparent and secure alternative, reassuring users with regular audits by Deloitte.

The exchange has actively promoted cbBTC, highlighting its seamless integration with DeFi protocols and support for institutional clients. Despite criticisms from Justin Sun over the lack of Proof-of-Reserve and potential government intervention risks, the exchange maintains that cbBTC complies with regulatory requirements.

In response to Sun’s allegations Coinbase CEO Brian Armstrong defended the product, reiterating its operational transparency. Armstrong clarified that cbBTC has always been presented as a custodian-based product, with all transactions settled on-chain. He dismissed concerns about government intervention as speculative, emphasizing commitment to securing client funds.

Amid these concerns, Brian Armstrong is set to meet with President-elect Donald Trump to discuss cryptocurrency policy and potential advisory roles in the incoming administration.

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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.





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

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9 hours ago

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November 19, 2024

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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.

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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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Here’s Why Crypto Market and Stocks Falling Suddenly?

Published

12 hours ago

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November 19, 2024

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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.

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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.





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