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BTC Dips Below $95K, LDO Up 15%

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1 month ago

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Following the recent bullish rally, cryptocurrency prices today are facing selling pressure, with market sentiment shifting towards cautiousness. Bitcoin (BTC) has dropped to the $93K level today. Altcoins show a mixed trend, with Ethereum (ETH) and XRP gaining 3% to 4%, while Solana (SOL) is down by 5%. Lido DAO (LDO) and Arbitrum (ARB) have emerged as the top gainers, with increases of 15% and 10% in the past 24 hours.

Meanwhile, the global crypto market cap has dropped by 2%, currently at $3.27 trillion. However, the overall trading volume has surged by 22%, reaching $241 billion. Let’s dive into the top cryptocurrencies by market cap and their price movements today, November 26.

Cryptocurrency Prices Today: BTC and SOL Drop, ETH and XRP See Gains

BTC price slipped to the $93K level today, while ETH and XRP rose by 3% to 5% in the past 24 hours. SOL declined by 5%, whereas LDO and ARB emerged as the day’s top gainers.

Bitcoin Price Today

BTC is currently trading at $94,666, marking a 3% decline in the last 24 hours. Its 24-hour low and high are $92,642 and $98,935, respectively. The market cap of Bitcoin stands at $1.87 trillion, with a trading volume of $84 billion in the same period. Its market dominance is 57.27%.

Additionally, Monday saw a daily outflow of $438 million from BTC ETFs, with BlackRock IBIT recording an inflow of $267 million, while Bitwise BTC experienced a major outflow of $280 million. Notably, Rumble, a video-sharing and cloud services platform, has announced plans to allocate up to $20 million from its corporate treasury to Bitcoin, reflecting growing corporate interest in the cryptocurrency.

Ethereum Price Today

Ethereum (ETH) is currently trading at $3,432, reflecting a 3% increase in the last 24 hours. Its 24-hour low and high are $3,349 and $3,545, respectively. Ethereum’s market cap stands at $414 billion, with a trading volume of $52 billion. With a market dominance of 12.7%, ETH remains the second-largest cryptocurrency by market cap.

According to sosovalue, ETH ETFs saw an inflow of $2.83 million, with Bitwise leading the way with an inflow of $8.75 million. Meanwhile, Grayscale recorded an outflow of $7.65 million.

Solana Price Today

Solana (SOL) is currently trading at $237, reflecting a 5% decrease in the last 24 hours. Its 24-hour low and high are $231 and $256, respectively. Solana’s market cap stands at $112 billion, with a 24-hour trading volume of $6.71 billion. With a market dominance of 3.47%, SOL ranks as the fourth-largest cryptocurrency by market cap.

Additionally, Solana’s memecoin launchpad Pump Fun has indefinitely suspended its live streaming feature. This decision follows backlash over the misuse of the live stream service, prompting the protocol to sunset this offering.

XRP Price Today

XRP is currently trading at $1.44, marking a 5% increase in the last 24 hours. Its 24-hour low and high are $1.385 and $1.53, respectively. With a market cap of $82 billion and a 24-hour trading volume of $11.4 billion, XRP has a market dominance of 2.54%, ranking as the sixth-largest cryptocurrency by market cap.

Moreover, the momentum for crypto ETFs continues to grow. Just yesterday, WisdomTree filed for an XRP ETF in Delaware, signaling increased institutional interest in cryptocurrency.

Meme Cryptocurrency Prices Today

The meme coin sector has experienced a downward trend over the past 24 hours. Dogecoin (DOGE) is down by 5%, currently trading at $0.40, while Shiba Inu (SHIB) has dropped 2%, trading at $0.00002504.

Additionally, other notable meme coins like PEPE, BONK, and FLOKI have dropped by 4% to 6%. This decline highlights the overall bearish momentum affecting the meme coin market.

Top Cryptocurrency Gainers Prices Today

Lido Dao

LDO price surged by 15% today, currently trading at $1.60. Its 24-hour low and high are $1.478 and $1.764, reflecting strong price movement.

Arbitrum

ARB price is trading at $0.89, showing a 10% increase in the last 24 hours. Its 24-hour low and high are $0.84 and $0.95, indicating notable price movement.

Top Cryptocurrency Losers Prices Today

The Sandbox

SAND price has dropped by 16% in the last 24 hours, currently trading at $0.66. Its 24-hour low and high are $0.65 and $0.82, reflecting significant volatility.

Decentraland

MANA price is currently trading at $0.62, showing a 15% decrease in the last 24 hours. Its 24-hour low and high are $0.61 and $0.73, indicating notable fluctuations.

Besides, the hourly time frame charts continued stirring investor speculations on cryptocurrency prices today, illustrating mixed actions. Crypto market enthusiasts continue to eye the market for further price action shifts.

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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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Galaxy Research Predicts Dogecoin Price To Reach $1 In 2025

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2 hours ago

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December 28, 2024

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Galaxy Research, an offshoot of Galaxy Digital Holdings has released its optimistic forecast for Dogecoin (DOGE) for the coming year. This DOGE forecast comes as part of 23 major predictions for the digital currency ecosystem in 2025. The Galaxy Research forecast also touched on Bitcoin, Ethereum and other key crypto events.

The Galaxy Research Bold Call for Dogecoin

According to the firm, the top memecoin may finally fulfill its ambitions and skyrocket to $1 by next year. The research firm said it informed Galaxy Digital’s clients that the DOGE market capitalization will hit $100 billion next year.

For reference, Dogecoin price was pegged at $0.3133 at the time of writing with a market capitalization of $46.25 billion. While the coin has key fundamentals like sustained DOGE whale accumulations, the price will have to grow by more than 100% to hit this mark.

This growth rate is not uncommon for Dogecoin, however, the crypto ecosystem now have competing memecoins with higher risk-reward ratio. To Galaxy Research, the correlation with Elon Musk’s Department of Government Efficiency (D.O.G.E) will impact the memecoin’s valuation.

Besides Dogecoin, the research firm also projected a $150,000 price top for Bitcoin in Q1 2025. Per the projections, the flagship coin will jump as high as $185,000 by the fourth quarter.

This predictions are conservative compared to the $350,000 Bitcoin price forecast recently issued by “Rich Dad Poor Dad” Author Roberts Kiyosaki.

Fate of the Broader Crypto Market

From Galaxy Research’s lens, Dogecoin is not the only asset that will benefit from the impending market boom in 2025. After the spot Bitcoin ETF market crossed the $100 billion Assets Under Management (AUM) milestone this month, Galaxy predicted a $250 billion record in 2025.

Ethereum also secured a bullish projection from the research firm. The firm said Ether will trade above $5,500 in 2025. Thus far in this bull market cycle, Ethereum has failed to jump above the $4,000 price mark. In addition, the firm said Ethereum staking rate will exceed 50%.

According to Galaxy Research, at least one big asset management firm will allocate over 2% of its AuM to buy Bitcoin. Other aspects of the market including Ethereum Layer-2 scaling solutions, and Decentralized Finance (DeFi) among others will also see massive shifts in the coming year.

 

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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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Pro-XRP Lawyer John Deaton Comments On New Crypto Tax Rule

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6 hours ago

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December 27, 2024

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Pro-XRP lawyer John Deaton has criticized a newly finalized crypto tax reporting rule issued by the Biden administration. The rule, titled “Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales,” was recently introduced by the IRS. Deaton has labeled the regulation as detrimental to decentralized finance (DeFi).

Pro-XRP Lawyer John Deaton Criticizes New IRS Rules

Following a recent announcement by the Internal Revenue Service (IRS), John Deaton has raised concerns over the newly finalized crypto tax regulations. The rules require brokers to facilitate digital asset transactions, report gross proceeds, and provide customers with Form 1099. This obligation includes collecting user data such as names and addresses.

Deaton argued that these regulations unfairly target DeFi platforms. He emphasized that autonomous and permissionless smart contracts cannot comply with such requirements, as they lack centralized control or intermediaries capable of gathering user data.

The lawyer added, 

“Enforcing this kind of requirements on DeFi will stifle innovation and continue to drive developers and projects offshore.”

Additionally, most recently the crypto advocate criticized Senator Elizabeth Warren for her anti-crypto stance and alignment with the banking industry. He argued that Warren’s influence on financial policies and strict crypto regulations stifled industry growth.

Impact of Reporting Obligations on Decentralized Finance

The rule imposes broker-like responsibilities on front-end service providers interacting with users and offering decentralized protocol access. However, the regulation excludes the DeFi protocols themselves from reporting requirements. Critics, including John Deaton, believe this creates operational challenges for entities in the DeFi ecosystem.

Deaton compared the new regulation to a previous legislative effort by Senator Elizabeth Warren, which he described as a de facto ban on self-custody for Bitcoin. He stated that the rules undermine decentralization and user privacy, both fundamental to DeFi’s core principles.

Moreover, John Deaton noted that such regulations will drive developers and projects offshore, away from the United States. This shift, according to Deaton, could hinder the growth of the digital asset industry domestically.

Furthermore, he suggested that these last-minute rules might be intended to counteract the next administration’s potential pro-crypto stance.

The finalized regulations are set to take effect on January 1, 2027, giving the industry a window to adapt. The IRS has clarified that these rules aim to bring DeFi brokers under the same tax reporting obligations as traditional securities brokers. The crypto advocate urged the new Congress to prioritize reversing these rules, citing their potential to harm DeFi innovation.

Deaton comments come amid Donald Trump pledge to make the U.S. the crypto capital by ensuring all remaining Bitcoin is “made in the USA.” However, with 95% of Bitcoin already mined and the introduced crypto tax, this goal faces some challenges.

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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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Binance Peer To Delist XRP and Litecoin (LTC), But There’s A Catch

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14 hours ago

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December 27, 2024

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XRP News: Crypto exchange Binance’s peer OKX will delist Ripple’s XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures today. The move comes in line with current market trends and to meet users’ needs, the crypto exchange explained.

Traders may anticipate some volatility in XRP and LTC prices as a result of this news. However, analysts are optimistic about further rally in the next bull market wave.

OKX to Delist Ripple’s Coin and Litecoin Delivery Contracts

Crypto exchange OKX announced earlier that it will phase out the generation of XRP and LTC USDT-margined and crypto-margined expiry futures. This is scheduled to be completed by today, December 27.

The crypto exchange will officially delist XRP and LTC expiry futures at 8 AM UTC on December 27, 2024. Bi-weekly expiry futures and Bi-quarterly expiry futures were ceased in earlier months by the platform. It also cleared that the currently listed expiry futures will remain unaffected until their respective expiration dates.

Amid this delisting news by the top crypto exchange Binance’s peer OKX, there may be some volatility in XRP and LTC prices. This may happen due to traders reacting to the developments. Investors need to keep an eye on trading volumes and market sentiments for any change in direction.

XRP and LTC Prices Under Pressure

XRP price today jumped 0.5% and 11% in a week, with the price currently trading near $2.20. The 24-hour low and high are $2.13 and $2.23, respectively. Furthermore, the trading volume has continued to decline this week, with a 20% jump in the last 24 hours, indicating a decline in interest among traders.

XRP priceXRP price

Ripple’s native coin XRP has shown similarities in price movements to its historical chart patterns of 2014-2017. A breakout and positive news can push the XRP price beyond the $20 level.

Meanwhile, Litecoin price is also trading sideways near $104. The price changed hands at $104.05, after a more than 20% rally this week. The 24-hour low and high are $101.16 and $104.16, respectively. Total LTC future open interests dropped 1% in the last 24 hours. The 4.38 million LTC futures OI are now valued at $457.26 million, signaling cautious trading activity.

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Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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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