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Ethereum Foundation Invests Millions Into zkVM, What’s Happening?

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3 hours ago

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The Ethereum Foundation once again caused a stir across the broader market on Friday, revealing that it is investing tens of millions into zkVMs (zero knowledge virtual machines). Justin Drake, a renowned researcher at the organization, revealed this investment strategy. Notably, this investment plan outlined three vital entities that remain poised to leverage the opportunity, per the researcher’s announcement.

Ethereum Foundation Putting Millions Into zkVMs

As per an X post by Justin Drake as of November 29, “The EF is investing tens of millions into zkVMs.” Further, the announcement revealed three key entities that remain poised to leverage this massive investment.

According to Drake, zkevm.org, a zkRISC-V formal verification platform, remains primed to receive support from the Ethereum Foundation’s investment. Simultaneously, Poseidon cryptanalysis and ethproofs.org, other zkVMs, are also poised to leverage this investment.

The Ethereum Foundation’s investments offer support to various components of zkVMs, spanning from formal verification to cryptographic analysis. Overall, the investment talks garnered significant attention as they further underscore ongoing efforts that aim to streamline the Ethereum ecosystem.

What’s Next For ETH Price?

On the other hand, Ethereum co-founder Jeffrey Wilcke’s trades ignited concerns across the broader market. Notably, the co-founder deposited 20,000 ETH to Kraken on November 28, raising severe concerns surrounding the crypto’s price movement ahead.

Intriguingly, Wilcke has been recorded offloading 44,300 tokens at an average price of $3,342 in 2024, solidifying market concerns for one of the leading crypto by market cap.

Against the backdrop of Ethereum Foundation investments and other developments, ETH price slipped more than 1% intraday and is trading at $3,552. Its 24-hour low and high were $3,531.87 and $3,642.19, respectively. Notably, the recent waning movement falls in line with selloff by whales. Notably, the weekly chart for the crypto shows a 5% pump, followed by a monthly upswing of 33%.

Intriguingly, a recent ETH price analysis by CoinGape Media further indicated that the crypto eyes a $4000 target amid this bull cycle. This bullish projection also comes riding the back of strong market potential and ecosystem upgrades.

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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 AT $97K, XRP Rises 7%, ALGO Surges 23%

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6 hours ago

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November 29, 2024

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The crypto prices today remain steady compared to yesterday, showing minimal fluctuations over the last 24 hours. Bitcoin (BTC) regained $97K reflecting strong market sentiment, while major altcoins displayed mixed movements. Ethereum (ETH) and Solana (SOL) prices gained 1-2%, reflecting positive market momentum. However, XRP soared 7% within the last 24 hours. Algorand (ALGO) emerged as the top gainer today jumping 25% over the past 24 hours.

The global crypto market cap increased by 1% from the previous day, reaching $3.32 trillion. However, overall trading volume declined significantly, down 24% to $153 billion over the past 24 hours. Here’s a quick snapshot of the top cryptocurrencies by market capitalization and their price movements today, November 29.

Bitcoin (BTC) continues to trade at $97K, sparking global market optimism. Over the past week, BTC has moved within a stable range of $90K to $99K, showing strong support levels. Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) see slight gains, signaling renewed market interest. XRP stood out with a 7% surge driven by positive legal developments.

Bitcoin Price Today

Bitcoin (BTC) price is trading at $96,700, up 1% over the last 24 hours, with a low of $94,677 and a high of $97,000. BTC’s market cap stands at $1.91 trillion, while 24-hour trading volume reached $50 billion, reflecting its market dominance of 57.08%.

Additionally, Bitcoin adoption continues to grow globally. Switzerland’s Canton Bern has passed a bill to explore Bitcoin mining’s impacts. This bipartisan initiative, months in the making, solidifies Switzerland’s position as a leading crypto-friendly region in the EU.

Ethereum Price Today

Ethereum (ETH) price is trading at $3,583, down 1% in the past 24 hours, with a low of $3,531 and a high of $3,642. Its market cap stands at $431 billion, supported by a trading volume of $31 billion, and a market dominance of 12.9%, securing its position as the second-largest cryptocurrency by market cap. Analysts predict ETH price could reach $4,000 soon, driven by Bitcoin’s consolidation or potential climb higher.

Solana Price Today

Solana (SOL) price is trading at $241, up 1% over the last day, with a 24-hour low of $233 and a high of $242. Its market cap stands at $115 billion, with a trading volume of $3.81 billion, giving it a market dominance of 3.43%. As the fourth-largest cryptocurrency by market cap, Solana continues to strengthen its position in the evolving market. Keep watching crypto prices today for the latest updates.

XRP Price Today

XRP price today surged 7% in the last 24 hours, driven by a favorable court order for Ripple in the ongoing lawsuit. The U.S. court has expedited the judgment process, fueling optimism for a massive XRP rally. Currently, XRP is trading at $1.56, with a 24-hour low of $1.43 and a high of $1.57. It boasts a market cap of $89 billion and a trading volume of $6 billion, holding a market dominance of 2.66% as the 6th largest cryptocurrency globally. Stay tuned for crypto prices today as the XRP rally unfolds.

Meme Coins Performance Today

Meme coins are also experiencing bullish momentum today, with Dogecoin (DOGE) up by 1%, currently trading at $0.40, with a 24-hour low of $0.39 and a high of $0.41. Similarly, Shiba Inu (SHIB) has gained 2% in the past 24 hours, now trading at $0.00002589. As Bitcoin nears $100K, many are closely watching the price prediction of Shiba Inu.

Other top meme coins, including PEPE, BONK, and WIF, have also shown a 3-4% increase in the last 24 hours. Keep an eye on crypto prices today as the market continues to move.

Top Crypto Gainer Prices Today

Algorand

Algorand’s (ALGO) price is trading at $0.35, marking a 25% gain in the last 24 hours, making it the top gainer during this period. Its 24-hour low and high are $0.28 and $0.35, respectively.

Worldcoin

Worldcoin (WLD) price is trading at $2.80, up by 15% in the last 24 hours, with a 24-hour low of $2.48 and a high of $3.05. Analysts are noting that WLD price will rally, supported by strong technical indicators and increasing trading volume. These factors suggest that Worldcoin may be positioned for continued upward momentum in the coming days.

Top Crypto Loser Prices Today

Ethena

Ethena (ENA) price has seen a 5% decline in the last 24 hours, now trading at $0.71. Its 24-hour low and high are $0.6853 and $0.7601, respectively.

Fantom

Fantom (FTM) price has been one of the worst performers in the last 24 hours, down by 5%. It is currently trading at $0.102, with a 24-hour low of $0.98 and a high of $1.1032.

The hourly chart looks bullish, with most major altcoins in the green, indicating positive momentum across the market. Algorand (ALGO) continues its upward movement, with prices continuing to rise. Overall, the crypto prices today have strong bullish signs, which could be a positive signal for investors looking for growth in the coming days.

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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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John Deaton Calls For Probe Into Operation Chokepoint 2.0

Published

9 hours ago

on

November 29, 2024

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The conversations around Operation Chokepoint 2.0 are growing on crypto X, with pro-crypto lawyer John Deaton recently sharing a strong opinion about it. Responding directly to a post from Jesse Powell, the founder, and CEO of Kraken Exchange, Deaton called for an investigation into the defined effort to debank the crypto ecosystem.

Operation Chokepoint 2.0 – Time For Probe

Jesse Powell revealed how he and Kraken battled debanking US Financial institutions. He noted that the trading platform barely survived by focusing more on its European outlets.

In reaction, John Deaton noted that Ripple CEO Brad Garlinghouse and Custodia Bank CEO Caitlin Long had faced similar experiences. He went on to tag the X accounts of President-elect Donald Trump, VP-elect JD Vance, Elon Musk, and Scott Bessent to investigate Operation Chokepoint 2.0.

In his recommendation, John Deaton suggested that the incoming administration appoint an independent counsel to carry out the investigation. He even suggested Nic Carter as one of the good choices for the investigative team.

Notably, Nic Carter originally coined the word Operation Chokepoint 2.0. He remained credited as the first to note the anomaly in the targeted effort to debank crypto firms. Meanwhile, many, including John Deaton and Coinbase CEO Brian Armstrong, have pointed fingers at Sen Elizabeth Warren as the mastermind behind this agenda.

While there is no concrete evidence to back this, as Deaton mentioned, Coinbase CEO believes the war on crypto fueled by Elizabeth Warren cost Democrats the election.

Will Donald Trump Change The Game?

An investigation into Operation Chokepoint 2.0 could eventually happen as US President-elect Donald Trump has shown his willingness to create a friendly regulatory environment for the crypto industry.

Trump’s move to create a friendly regulatory environment will likely include appointing a pro-crypto individual to head the US SEC. With many names under consideration for the US SEC Chairman’s role, John Deaton is optimistic the next leader will fuel the probe across the board.

Gary Gensler has already tendered his resignation notice as Chairman. With Brad Bondi, Paul Atkins, and Brian Brooks now in the lead for the role, industry giants are increasingly pressing the SEC to probe its excesses.

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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.

Follow him on X, Linkedin

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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Swiss Canton Bern Passes Bill To Probe Impact of Bitcoin Mining

Published

12 hours ago

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November 28, 2024

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Lawmakers in the Switzerland Canton of Bern have made history by passing a Bill to explore the impacts of Bitcoin mining in the region. Months after the bipartisan effort to drive adoption began, the bill finally passed with a landmark majority. Notably, the Bill has further repositioned Switzerland as one of the most crypto-friendly countries in the EU area.

Bitcoin Mining and Energy Assessment

According to details shared by Member of Parliament Samuel Kullman, the Bill passed with an overwhelming majority in support. The clear verdict had 85 lawmakers in support and 46 against the move.

With the bill passed, the parliament of Canton Bern now demands a report on the potential of Bitcoin mining to stabilize the regions energy grid. In addition to this, the report will also shed insight into the role of the mining venture in the conversion of wasted energy.

In the acknowledgment, Rep Kullman highlighted some members of the community who provided the education to see the Bill through.

Switzerland is a known crypto hub with a high rate of crypto adoption. While the end-goal of Canton Bern regarding the Bitcoin mining report remains unknown, the community is celebrating the spotlight on crypto.

Unlike Germany that sold about 50,000 BTC stash earlier in the year, the push to lead in Bitcoin mining marks a positive regulatory shift in the industry.

Following the Donald Trump Lead

Throughout his Presidential Campaign, Donald Trump has hinted at plans to set up a Strategic Bitcoin reserve for the coin. In addition, he also have plans to lead the country in mining the coin.

While crypto advocates like Chris Giancarlo noted the hurdle in the plan, it has set other countries on positive adoption path. Beyond the United States and Switzerland, El Salvador and the government of Bhutan are actively engaged in Bitcoin mining.

Meanwhile, publicly traded companies are also adopting Bitcoin as a strategic reserve asset. Though MicroStrategy is leading in this regard, Metaplanet, and Semler Scientific have also joined the trend.

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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.

Follow him on X, Linkedin

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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