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Hamster Kombat enjoys triple-digit boost from six days ago

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Hamster Kombat is up over 110% from its all-time low price of $0.002263 six days ago.

At last check Saturday, Hamster Kombat (HMSTR) was among the top-three trending coins on CoinGecko, up by almost 88%.

Its fully diluted valuation currently hovers at around $475.6 million. See below.

Hamster Kombat boasts triple-digit gains from an all-time low, plus Bongo Cat and LMEOW - 1
Source: CoinGecko

What is Hamster Kombat?

The creators of Hamster Kombat remain anonymous — a common choice in the crypto sector.

Based on a game launched via Telegram, Hamster Kombat meshes gaming with blockchain technology, allowing players to earn in-game HMSTR tokens.

Players can tap on digital hamsters to gain rewards. They can then be upgraded and use the coins to access special game features.

Hamster Kombat also uses non-fungible tokens, or NFTs, and is set to integrate TON blockchain wallets for storing and converting earned tokens.

The recent activity around the meme coin comes as crypto.news reported that Hamster Kombat’s recent chart pattern indicated that a comeback was imminent, despite the coin wallowing in a deep bear market.

Bongo Cat enjoys a brand-new beat

Hamster Kombat boasts triple-digit gains from an all-time low, plus Bongo Cat and LMEOW - 2
Source: CoinGecko

Bongo Cat (BONGO) is a meme coin inspired by an internet meme and video featuring a cat playing the bongos.

It has gained attention in the cryptocurrency community, combining meme culture with blockchain technology. As of now:

Bongo Cat is priced at approximately $0.02922 and is currently up 150% at last check on Saturday — the largest-gaining digital asset on CoinGecko.

This blend of meme and finance illustrates the ongoing trend of meme coins capturing both speculative interest and community-driven support in the crypto market.

LMEOW purrs in Thailand

Lmeow (LMEOW) jumped triple-digits on Saturday, coinciding with hype and promotion at Thailand Blockchain Week 2024.

The event, which aims to elevate Thailand into a new era of financial technology, is currently taking place Saturday and Sunday.

Lmeow has a fully diluted valuation of $34.8 million.

The cat-themed tokens can be traded on decentralized exchanges and centralized crypto exchanges, including Uniswap V2 (Ethereum), where the most active trading pair

LMEOW currently has a trading volume of more than $6 million in the last 24 hours.

Hamster Kombat boasts triple-digit gains from an all-time low, plus Bongo Cat and LMEOW - 3
Caption: CoinGekco



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ETH

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

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Believers in Ethereum (ETH) could be on the verge of an opportunity, according to Ki Young Ju, the founder and chief executive of the digital asset analytics firm CryptoQuant.

Young Ju tells his 370,400 followers on the social media platform X that the ETH/Bitcoin (BTC) Net Unrealized Profit/Loss level just hit a four-year low.

“Despite Ethereum’s underperformance against Bitcoin, ETH holders endure losses without realizing them. This mirrors levels from its early 2020 bottom.

This might be an opportunity for ETH believers.”

Image
Source: Ki Young Ju/X

Young Ju also notes that ETH is becoming less correlated with BTC.

“The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% rise in Bitcoin could result in only a 3% gain for Ethereum.

Just because BTC is strong doesn’t mean you should buy ETH. Each asset is now following its own path.”

Image
Source: Ki Young Ju/X

Young Ju isn’t the only crypto analyst who’s bullish on Ethereum: Former Goldman Sachs executive Raoul Pal also thinks ETH is primed for big gains.

The Real Vision CEO says ETH’s current chart is playing out similarly to Bitcoin’s between 2011 and 2019.

“Ethereum now versus the previous periods is following the last in Bitcoin. Now whether it gets to the target here of $20,000/ETH, who knows. Doesn’t really matter. But directionally, we’ll see what happens. ETH should accelerate from here, and I’m pretty confident that it will.” 

ETH is trading at $3,054 at time of writing. The second-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

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Bitcoin

Franklin Templeton crypto index ETF delayed by SEC

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Franklin Templeton, one of the crypto exchange-traded fund (ETF) issuers, has expressed interest in releasing the crypto index ETF, but the authorities are now delaying it.

The Securities and Exchange Commission (SEC) detained the deadline for approving the crypto index ETF by Franklin Templeton. According to the filing on Nov. 20, the authorities raised their concern about the sufficient time they needed to decide whether it would be accepted or declined.

“The Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved,” SEC fillings.

On August. 17, based on their filing, Franklin proposed the crypto index ETF by holding Bitcoin (BTC) and Ethereum (ETH) with the ticker EZPZ. The proposed fund would allow the two most prominent crypto in the world under the same index with an unspecified ratio weighted by market capitalization.

If approved by the authorities, EZPZ would use the Coinbase custody and be listed on the Cboe BZX exchange. Franklin may add another crypto into the index but should gain approval from the SEC.

Franklin Templeton moves on crypto

Franklin Templeton, which is based in New York, is one of the most adaptable asset managers that allows investors to gain more exposure from the crypto price movement. Franklin created another crypto-related product after receiving the authority approval in January for Bitcoin spot ETF.

On October. 31, they tokenized money market funds into several blockchains, including Base, Arbitrum, Polygon, Avalanche, Aptos, and Stellar. The U.S. government money market fund (FOBXX) has $410 million in assets being tokenized into that blockchain.

Franklin also works with SBI Group in Japan to prepare for the possibility of accepting the crypto fund in the country, but this work’s development has not been published yet.



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Bitcoin

Crypto product record major inflow up to $2.2 billion

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CoinShares, a digital asset manager, reported that last week crypto products saw a major inflow from institutional investors of up to $2.2 billion.

The latest U.S. Election, on Nov. 5, still stimulated the weekly cryptocurrency inflow up to $2.2 billion. The number increased 15% from the previous week by about $1.98 billion.

According to CoinShares’s release, on Nov. 18, digital asset inflows recorded $33.5 billion year-to-date and hit a new peak of under-asset management (AUM) up to $138 billion.

Bitcoin (BTC) saw the largest inflow based on assets last week of around $1.48 billion or equal to 67%. Followed by Ethereum (ETH) and Solana (SOL) with inflows $646 million and $23.9 million respectively.

The Beam Chain network upgrade proposal by Justin Drake has increased Ethereum’s inflow from $157 million. Only multi-asset and Binance Coin (BNB) record a week’s outflow.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded the highest surge in crypto product from last week’s inflow up to 63% or up to $2.1 billion. While the rest of the funding recorded an outflow ranging from $8 million to $153 million, including Grayscale and Fidelity.

Crypto product driving factor: U.S. Election

James Butterfill, CoinShares head of research, says a combination of looser monetary policy and a Republican winning a majority of the Congress and Presidency appears to be a driving factor of these inflows.

Donald Trump winning the White House’s second term still brings a positive rally for the cryptocurrency industry, as well as the crypto product. Buterfill has mentioned that Trump’s presidency would bring crypto-friendly regulations and fiscal policy.

Earlier, Trump picked several names for secretary on his cabinet who identified as pro-crypto personalities including Elon Musk, Tom Emmer, and Robert F. Kennedy Jr.

Bitcoin Act, who were proposed by Republican Senator Cynthia Lummis, and the Bitcoin Strategic Reserve also boosts the crypto investor’s confidence. He also mentioned this favorable outlook may bring the best potential of Bitcoin in the future.

“The next four years may witness an unprecedented level of institutional support, increased government interest, and broader public adoption, setting the stage for Bitcoin to further solidify its place in the global financial landscape,” Buterfill mentioned in the other report.



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