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MAS Push To Pioneer Commercialization of Asset Tokenization
The Monetary Authority of Singapore (MAS) on Monday said it plans to deepen support for asset tokenization, pushing to lead in commercial networks. Singapore’s central bank to enhance liquidity and adoption of tokenization in financial services. This will boost cryptocurrencies and crypto projects involved in the tokenization of assets.
MAS to Boost Asset Tokenization
Monetary Authority of Singapore has announced plans to grow tokenization in financial services, as per an official press release by the central bank on November 4.
The central banks said it will focus on forming commercial networks, developing market infrastructures, fostering industry frameworks, and enabling settlement facility to push asset tokenization. Notably, MAS has already convened over 40 financial institutions, industry associations, and international policymakers across seven countries under Project Guardian.
MAS will boost liquidity and adoption across primary and secondary markets for tokenized asset transactions. Banks such as Citi, HSBC, Schroders, Standard Chartered and UOB have formed the Guardian Wholesale Network industry group to form commercial networks.
“By connecting a broader set of participants’ products and services across multiple currencies and assets, greater improvements in capital raising, secondary trading, asset servicing and settlement of tokenised assets may be realised.”
The Global Layer One (GL1) will provide digital infrastructure ecosystem to facilitate seamless cross border transactions. BNY, Citi, J.P. Morgan, MUFG and Societe Generale-FORGE have been leading efforts to define the business, governance, risk, legal, and technology requirements of the GL1 Platform.
The other set of industry participants, including Euroclear and HSBC are focusing on digital asset securities control principles.
Two Industry Frameworks Developed by Project Guardian Today
Project Guardian industry group members published two industry frameworks today. These will help in the acceptance and implementation of asset tokenization in the financial industry.
Interestingly, the MAS has opted for common settlement assets including Singapore dollar wholesale CBDC for market testing purposes. DBS, OCBC, Standard Chartered, and UOB are participating in use cases such as payments and securities settlement.
Crypto Projects Boosting Tokenization of Real World Assets
Meanwhile, the top RWA crypto projects are rapidly expanding to connect decentralized finance with traditional finance. Crypto tokens that benefit from the commercialization of asset tokenization include Ondo Finance, Mantra, Pendle, and others.
Recently, Ripple collaborated with crypto exchange Archax to boost XRP Ledger in becoming a leader in real world assets (RWA) tokenization. Ripple allocated $10 million to mint US Treasury bulls on the XRPLedger in support of the initiative. Open Eden boasts $90 million in total valued locked (TVL) tokenized US T-bills spread across Ethereum, Arbitrum, and XRPL.
In October, Aurum Equity Partners launched a $1 billion in tokenized equity and debt fund on the XRP Ledger. This is being heavily promoted as the “world’s first combined equity and debt tokenized fund.”
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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Bitcoin Miner MARA Holdings has raised approximately $1 billion through the sale of its convertible notes. The Bitcoin miner revealed that some of the proceeds from this sale would be used to buy more BTC, although they didn’t mention the exact amount.
Marathon Digital Raises $1B To Buy More Bitcoin
In a press release, the Bitcoin miner revealed that it had raised net proceeds of $980 million from its convertible notes sale after deducting the initial purchaser’s discounts and commissions but before the estimated offering expenses payable by the company.
This development is significant as MARA Holdings revealed that it will use some of the net proceeds to acquire additional BTC. It is worth mentioning that the Bitcoin miner already holds around 27,000 BTC and is the public company with the second-largest Bitcoin holdings.
This development comes as MARA also recently unveiled plans to raise $700m through convertible notes, which will mature in 2030. Meanwhile, the Bitcoin miner looks to be going head-to-head with MicroStrategy, which also recently upsized its private offering to $2.6 billion. The software company will use some of the proceeds to buy more BTC.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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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Bitcoin (BTC) price today trades at $97,606.0 as of 10 AM. BTC price hit a daily high of $97,837.0 today after rallying 4.41% on November 21.
Why Is Bitcoin Price Up Today?
Bitcoin price today is up 4.41% today and currently auctions around $97,606.0. Since the breakout from the seven-month consolidation and the $75k hurdle, the crypto market outlook has turned bullish. While a few altcoins shoot higher, the alt season is yet to begin.
*bitcoin price updated as of 10 AM.
Price of BTC trades at $97,606.0, bringing the year-to-date gain from 56% on October 20 to 108% as of November 18. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 39%, and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.
Bitcoin Price Eyes Bullish End to 2024
Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.
With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,931.5 billion could push toward the $2 trillion mark.
Bitcoin: The Largest Cryptocurrency
While Bitcoin’s market cap hovers around $1,931.5 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization, which is $2.40 trillion. Despite the seven-month consolidation, Bitcoin’s $1.3 trillion market cap remains strong, anticipating it reaching $2 trillion in 2025.
BTC’s 24-hour Trading Volume
Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $99.0 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.
Bitcoin Blockchain Upgrades
With a market cap of $1.3 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Bitcoin Network Upgrades Since 2009
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2017-2019
2015-2016
2013-2014
2010-2012
2009-2010
Bitcoin Price Forecast For Next Month
| Date | Price | Change |
|---|---|---|
| November 21, 2024 | $94,679 | 0.29% |
| November 22, 2024 | $99,364 | 5.25% |
| November 23, 2024 | $100,935 | 6.91% |
| November 24, 2024 | $101,744 | 7.77% |
| November 25, 2024 | $102,639 | 8.72% |
Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $104,725 as of November 26, leading to a correction. In a month from now, the largest crypto by market cap could be exchanging hands at around $100k.
Bitcoin Price Forecast Between 2025 and 2029
| January | $100,873.53 | $99,727.36 | $100,300.45 | 61.3% |
| February | $100,812.06 | $99,696.19 | $100,254.13 | 61.3% |
| March | $100,750.58 | $99,665.02 | $100,207.81 | 61.2% |
| April | $100,689.11 | $99,633.85 | $100,161.49 | 61.1% |
| May | $100,627.64 | $99,602.68 | $100,115.17 | 61% |
| June | $100,566.17 | $99,571.52 | $100,068.85 | 61% |
| July | $100,504.69 | $99,540.35 | $100,022.52 | 60.9% |
| August | $100,443.22 | $99,509.18 | $99,976.20 | 60.8% |
| September | $100,381.75 | $99,478.01 | $99,929.88 | 60.7% |
| October | $100,320.28 | $99,446.84 | $99,883.56 | 60.7% |
| November | $100,258.80 | $99,415.67 | $99,837.24 | 60.6% |
| December | $100,197.33 | $99,384.50 | $99,790.92 | 60.5% |
| All Time | $100,535.43 | $99,555.93 | $100,045.68 | 60.9% |
| January | $103,010.64 | $102,667.46 | $105,097.01 | 69% |
| February | $105,823.94 | $105,950.42 | $110,403.10 | 77.6% |
| March | $108,637.25 | $109,233.38 | $115,709.19 | 86.1% |
| April | $111,450.55 | $112,516.33 | $121,015.28 | 94.6% |
| May | $114,263.86 | $115,799.29 | $126,321.37 | 103.2% |
| June | $117,077.17 | $119,082.25 | $131,627.46 | 111.7% |
| July | $119,890.47 | $122,365.21 | $136,933.55 | 120.2% |
| August | $122,703.78 | $125,648.17 | $142,239.64 | 128.8% |
| September | $125,517.08 | $128,931.13 | $147,545.73 | 137.3% |
| October | $128,330.39 | $132,214.08 | $152,851.82 | 145.9% |
| November | $131,143.69 | $135,497.04 | $158,157.91 | 154.4% |
| December | $133,957 | $138,780 | $163,464 | 162.9% |
| All Time | $118,483.82 | $120,723.73 | $134,280.51 | 116% |
| January | $139,801.17 | $144,684.75 | $169,276.92 | 172.3% |
| February | $145,645.33 | $150,589.50 | $175,089.83 | 181.6% |
| March | $151,489.50 | $156,494.25 | $180,902.75 | 191% |
| April | $157,333.67 | $162,399 | $186,715.67 | 200.3% |
| May | $163,177.83 | $168,303.75 | $192,528.58 | 209.7% |
| June | $169,022 | $174,208.50 | $198,341.50 | 219% |
| July | $174,866.17 | $180,113.25 | $204,154.42 | 228.4% |
| August | $180,710.33 | $186,018 | $209,967.33 | 237.7% |
| September | $186,554.50 | $191,922.75 | $215,780.25 | 247.1% |
| October | $192,398.67 | $197,827.50 | $221,593.17 | 256.4% |
| November | $198,242.83 | $203,732.25 | $227,406.08 | 265.8% |
| December | $204,087 | $209,637 | $233,219 | 275.1% |
| All Time | $171,944.08 | $177,160.88 | $201,247.96 | 223.7% |
| January | $212,511.67 | $218,298 | $243,655 | 291.9% |
| February | $220,936.33 | $226,959 | $254,091 | 308.7% |
| March | $229,361 | $235,620 | $264,527 | 325.5% |
| April | $237,785.67 | $244,281 | $274,963 | 342.3% |
| May | $246,210.33 | $252,942 | $285,399 | 359% |
| June | $254,635 | $261,603 | $295,835 | 375.8% |
| July | $263,059.67 | $270,264 | $306,271 | 392.6% |
| August | $271,484.33 | $278,925 | $316,707 | 409.4% |
| September | $279,909 | $287,586 | $327,143 | 426.2% |
| October | $288,333.67 | $296,247 | $337,579 | 443% |
| November | $296,758.33 | $304,908 | $348,015 | 459.8% |
| December | $305,183 | $313,569 | $358,451 | 476.5% |
| All Time | $258,847.33 | $265,933.50 | $301,053 | 384.2% |
| January | $317,150.58 | $326,144.33 | $372,391.92 | 499% |
| February | $329,118.17 | $338,719.67 | $386,332.83 | 521.4% |
| March | $341,085.75 | $351,295 | $400,273.75 | 543.8% |
| April | $353,053.33 | $363,870.33 | $414,214.67 | 566.2% |
| May | $365,020.92 | $376,445.67 | $428,155.58 | 588.7% |
| June | $376,988.50 | $389,021 | $442,096.50 | 611.1% |
| July | $388,956.08 | $401,596.33 | $456,037.42 | 633.5% |
| August | $400,923.67 | $414,171.67 | $469,978.33 | 655.9% |
| September | $412,891.25 | $426,747 | $483,919.25 | 678.4% |
| October | $424,858.83 | $439,322.33 | $497,860.17 | 700.8% |
| November | $436,826.42 | $451,897.67 | $511,801.08 | 723.2% |
| December | $448,794 | $464,473 | $525,742 | 745.6% |
| All Time | $382,972.29 | $395,308.67 | $449,066.96 | 622.3% |
By 2025, Bitcoin price could hit the six-digit territory, and expect a massive bull run to kickstart in the years leading up to 2029. Coingape’s Bitcoin price prediction notes that BTC could trade between $82,213.41 and $660,471.83 by 2029.
Bitcoin Price Outlook between 2030 and 2050
2030
2031
2032
2033
2040
2050
| January | $465,154.42 | $481,462.17 | $546,469.67 | 779% |
| February | $481,514.83 | $498,451.33 | $567,197.33 | 812.3% |
| March | $497,875.25 | $515,440.50 | $587,925 | 845.6% |
| April | $514,235.67 | $532,429.67 | $608,652.67 | 879% |
| May | $530,596.08 | $549,418.83 | $629,380.33 | 912.3% |
| June | $546,956.50 | $566,408 | $650,108 | 945.7% |
| July | $563,316.92 | $583,397.17 | $670,835.67 | 979% |
| August | $579,677.33 | $600,386.33 | $691,563.33 | 1012.3% |
| September | $596,037.75 | $617,375.50 | $712,291 | 1045.7% |
| October | $612,398.17 | $634,364.67 | $733,018.67 | 1079% |
| November | $628,758.58 | $651,353.83 | $753,746.33 | 1112.4% |
| December | $645,119 | $668,343 | $774,474 | 1145.7% |
| All Time | $555,136.71 | $574,902.58 | $660,471.83 | 962.3% |
| January | $667,167.08 | $691,240.58 | $802,526.58 | 1190.8% |
| February | $689,215.17 | $714,138.17 | $830,579.17 | 1235.9% |
| March | $711,263.25 | $737,035.75 | $858,631.75 | 1281.1% |
| April | $733,311.33 | $759,933.33 | $886,684.33 | 1326.2% |
| May | $755,359.42 | $782,830.92 | $914,736.92 | 1371.3% |
| June | $777,407.50 | $805,728.50 | $942,789.50 | 1416.4% |
| July | $799,455.58 | $828,626.08 | $970,842.08 | 1461.5% |
| August | $821,503.67 | $851,523.67 | $998,894.67 | 1506.7% |
| September | $843,551.75 | $874,421.25 | $1,026,947.25 | 1551.8% |
| October | $865,599.83 | $897,318.83 | $1,054,999.83 | 1596.9% |
| November | $887,647.92 | $920,216.42 | $1,083,052.42 | 1642% |
| December | $909,696 | $943,114 | $1,111,105 | 1687.1% |
| All Time | $788,431.54 | $817,177.29 | $956,815.79 | 1439% |
| January | $946,061.92 | $979,838.83 | $1,150,786.08 | 1751% |
| February | $982,427.83 | $1,016,563.67 | $1,190,467.17 | 1814.8% |
| March | $1,018,793.75 | $1,053,288.50 | $1,230,148.25 | 1878.6% |
| April | $1,055,159.67 | $1,090,013.33 | $1,269,829.33 | 1942.4% |
| May | $1,091,525.58 | $1,126,738.17 | $1,309,510.42 | 2006.3% |
| June | $1,127,891.50 | $1,163,463 | $1,349,191.50 | 2070.1% |
| July | $1,164,257.42 | $1,200,187.83 | $1,388,872.58 | 2133.9% |
| August | $1,200,623.33 | $1,236,912.67 | $1,428,553.67 | 2197.7% |
| September | $1,236,989.25 | $1,273,637.50 | $1,468,234.75 | 2261.6% |
| October | $1,273,355.17 | $1,310,362.33 | $1,507,915.83 | 2325.4% |
| November | $1,309,721.08 | $1,347,087.17 | $1,547,596.92 | 2389.2% |
| December | $1,346,087 | $1,383,812 | $1,587,278 | 2453% |
| All Time | $1,146,074.46 | $1,181,825.42 | $1,369,032.04 | 2102% |
| January | $1,387,378.67 | $1,426,572.58 | $1,647,465.92 | 2549.9% |
| February | $1,428,670.33 | $1,469,333.17 | $1,707,653.83 | 2646.7% |
| March | $1,469,962 | $1,512,093.75 | $1,767,841.75 | 2743.5% |
| April | $1,511,253.67 | $1,554,854.33 | $1,828,029.67 | 2840.3% |
| May | $1,552,545.33 | $1,597,614.92 | $1,888,217.58 | 2937.1% |
| June | $1,593,837 | $1,640,375.50 | $1,948,405.50 | 3033.9% |
| July | $1,635,128.67 | $1,683,136.08 | $2,008,593.42 | 3130.7% |
| August | $1,676,420.33 | $1,725,896.67 | $2,068,781.33 | 3227.5% |
| September | $1,717,712 | $1,768,657.25 | $2,128,969.25 | 3324.3% |
| October | $1,759,003.67 | $1,811,417.83 | $2,189,157.17 | 3421.1% |
| November | $1,800,295.33 | $1,854,178.42 | $2,249,345.08 | 3517.9% |
| December | $1,841,587 | $1,896,939 | $2,309,533 | 3614.7% |
| All Time | $1,614,482.83 | $1,661,755.79 | $1,978,499.46 | 3082.3% |
| January | $1,912,592.58 | $1,975,978.17 | $2,362,093.25 | 3699.3% |
| February | $1,983,598.17 | $2,055,017.33 | $2,414,653.50 | 3783.8% |
| March | $2,054,603.75 | $2,134,056.50 | $2,467,213.75 | 3868.4% |
| April | $2,125,609.33 | $2,213,095.67 | $2,519,774 | 3952.9% |
| May | $2,196,614.92 | $2,292,134.83 | $2,572,334.25 | 4037.4% |
| June | $2,267,620.50 | $2,371,174 | $2,624,894.50 | 4122% |
| July | $2,338,626.08 | $2,450,213.17 | $2,677,454.75 | 4206.5% |
| August | $2,409,631.67 | $2,529,252.33 | $2,730,015 | 4291.1% |
| September | $2,480,637.25 | $2,608,291.50 | $2,782,575.25 | 4375.6% |
| October | $2,551,642.83 | $2,687,330.67 | $2,835,135.50 | 4460.1% |
| November | $2,622,648.42 | $2,766,369.83 | $2,887,695.75 | 4544.7% |
| December | $2,693,654 | $2,845,409 | $2,940,256 | 4629.2% |
| All Time | $2,303,123.29 | $2,410,693.58 | $2,651,174.63 | 4164.3% |
| January | $2,753,723.75 | $2,916,544.25 | $3,019,295.17 | 4756.4% |
| February | $2,813,793.50 | $2,987,679.50 | $3,098,334.33 | 4883.5% |
| March | $2,873,863.25 | $3,058,814.75 | $3,177,373.50 | 5010.6% |
| April | $2,933,933 | $3,129,950 | $3,256,412.67 | 5137.7% |
| May | $2,994,002.75 | $3,201,085.25 | $3,335,451.83 | 5264.9% |
| June | $3,054,072.50 | $3,272,220.50 | $3,414,491 | 5392% |
| July | $3,114,142.25 | $3,343,355.75 | $3,493,530.17 | 5519.1% |
| August | $3,174,212 | $3,414,491 | $3,572,569.33 | 5646.3% |
| September | $3,234,281.75 | $3,485,626.25 | $3,651,608.50 | 5773.4% |
| October | $3,294,351.50 | $3,556,761.50 | $3,730,647.67 | 5900.5% |
| November | $3,354,421.25 | $3,627,896.75 | $3,809,686.83 | 6027.7% |
| December | $3,414,491 | $3,699,032 | $3,888,726 | 6154.8% |
| All Time | $3,084,107.38 | $3,307,788.13 | $3,454,010.58 | 5455.6% |
The bullish explosive trend noted up to 2029 will continue for BTC based on CoinGape predictions and potentially push the average price of BTC in 2050 between $2.9 million and $3.3 million. Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.
How Will Bitcoin Price React to $3 Billion Buying Spree?
Michael Saylor, the CEO and founder of MicroStrategy, has increased the size of its convertible note from $1.75 billion to $2.6 billion. This suggests that the company will continue its BTC buying spree.
According to the announcement, the offering will close today, November 21, and is aimed at high-net-worth investors with a maturity of 2029. The blog also added,
“The notes will be sold in a private offering only to persons reasonably believed to be qualified institutional buyers.”
Investors need to note that the latest offerings has not finished yet, as MicroStrategy announces the new offering.
On a side note, here’s Michael Saylor’s tweet from two days ago.
MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR https://t.co/SRRtRrB2jO
— Michael Saylor⚡️ (@saylor) November 18, 2024
Although this is fundamentally bullish for Bitcoin, the implication of this might not be felt in the short term. The lack of influence on BTC’s value can be attributed to over-the-counter (OTC) deals. Institutions or high-net-worth individuals use methods to conceal their buys in the short term and do not affect the market price of the underlying asset.
Regardless, the outlook is bullish, and the momentum is strong, so it wouldn’t be surprising if Bitcoin hits $100,000 before November ends.
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In the last 15 years, the crypto trading industry has grown exponentially and impressively, facilitating hundreds of billions in daily trading volume. Bitcoin has played the biggest role in this, especially with its constant growth. It has attracted millions of crypto investors and cryptocurrencies, and some trades stand out from the rest due to their unique placement, creating impressive stories for the community. One such story talks about this crypto trader who has turned $378k into $35.2M in just eleven months, clearly portraying the power of the crypto market.
Crypto Trader Made $34.8M in Profits
The crypto market has rallied in the last two weeks, pushing many cryptocurrencies to new peaks. This is happening with a bullish sentiment among investors following Donald Trump’s win in the US elections and the Bitcoin price attaining new ATH at $97,862.64. With that, BTC has surged more than 130% since the beginning of the year.
Meanwhile, this bullishness was established, and a crypto trader built a fortune with crypto trading in OM, one of the most popular cryptos. As the Lookonchain post reveals, the trader turned his $378k investment into $35.2M within a year. This happened when the trader bought 9.33M OM tokens with three crypto wallets at $0.04 and kept holding all these tokens for 11 months before depositing 4M OM on Binance a few hours ago. More importantly, he still holds 5.33M OM, worth $19.86M, bringing the total to $35.2M.
Without trading #memecoins, the whale turned $378K into $35.2M in just 11 months, a massive profit!
The whale(related to #ManifoldTrading) accumulated 9.33M $OM($378K) at $0.04 11 months ago and deposited 4M $OM($15.32M) to #Binance 4 hours ago, leaving 5.33M $OM($19.86M).… pic.twitter.com/9JlS3ZOW0y
— Lookonchain (@lookonchain) November 21, 2024
Though the crypto trading industry has created opportunities where crypto traders earn millions in just a few hours or days, this trader clarified how slow and steady wins the race. More importantly, he ditched the memecoins trend and opted for a utility-based altcoin Mantra (OM). As a result, he has bagged $3.48M in profits in just 11 months.
OM Price Attained an ATH With a 6089% Surge
OM is the 35th biggest cryptocurrency on CoinmarketCap, with a market capitalization of $3.27B. This happened after the token grew 6089% in YTD, attracting more and more investors with its growth potential. In the last two months alone, the Mantra token has achieved multiple ATH peaks, rewarding its holders. One token holder made $6M in profits, benefitting from the constant price rally.
Even recently, the OM price attained a new ATH of $4.47 just three days ago. However, since then, the token has entered a consolidation phase, with the investor pushing the token to an overbuying zone, leading to a trend reversal. As a result, the token price has decreased 19% in three days, currently at $3.61. However, there is hope with the strong buying pressure on the token.
More importantly, the recent Binance announcement confirmed the OM/USDC pair listing on November 22, which might push the demand for the token even higher.
Bottom Line
With accurate crypto trading strategies, this crypto trader has made $34.8M in profits with just one token. The trader has spent $378K and bought 9.33M OM tokens when the price was just $0.04. However, over the 11 months, the OM price surged $6089%, making heavy profits for its holders. The crypto investor has impressed the crypto community with the focus on HODL and the right time trading. More importantly, he still has a major portion of his tokens in his personal wallet, which suggests he is awaiting even a bigger rally.
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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