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Solana price hits 17-month high above $54: What next for SOL?

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Solana price rose to $54 on Friday, its highest level since May 2022. SOL has outperformed top altcoins as positive catalysts aid bulls’ push, with price up 40% this past week and 138% over 30 days. How far can Solana price rise? Data suggests further upside is possible. Solana continued its outperformance on Friday with another huge green candle as price rose 24% to climb to highs of $54. The cryptocurrency’s value has jumped more than 40% this past week and an impressive 138% over the last 30 days. According to data from CoinGecko, Solana price has increased by 220% in the past year – reclaiming levels it traded at before the collapse of crypto exchange FTX . Solana price breaks above $54 Despite recent sell-off pressure, bulls have managed to push SOL price to its highest level since May 2022. The breakout to this 17-month high comes after buyers regained control at the critical $30 level, with this allowing for further upside to $38. A retest and f
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WuBlockchain Weekly: BlackRock Submits Application for Ethereum Spot ETF, Binance Launches Web3 Wallet, Poloniex Faces Over $100 Million Theft and Top10 News

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0. Breaking News: Poloniex Exchange Owned by Justin Sun Attacked link On November 10th, according to Peckshield monitoring, Poloniex exchange, owned by Justin Sun, was suspected of being hacked, with around $60 million in assets being transferred. Poloniex tweeted that the exchange’s wallet had been disabled for maintenance, and they would provide updates once the wallet was re-enabled. Justin Sun mentioned that they are currently investigating the Poloniex hack, and the exchange will fully reimburse the affected funds. Furthermore, they are exploring opportunities to collaborate with other exchanges to recover the funds. The hacker moved substantial assets, including $21.73 million in USDT, $14.05 million in BTC, $3.65 million in USDD, $1.78 million in USDC, and more, to different addresses on the Tron blockchain before being frozen. Currently, only $6.54 million remains frozen. The $21.73 million in USDT was exchanged entirely for TRX and sent to TXs71PNcHmxgptA3wQ4g398qbToMPhnEoG. T
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CME overtakes Binance to grab largest share of Bitcoin futures open interest

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Market analysts weigh in on an intriguing ‘flippening’, as Bitcoin futures open interest on global derivatives marketplace CME overtakes Binance. Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months. A number of analysts highlighted the ‘flippening’ of Binance by CME, with the latter overtaking the global cryptocurrency exchange for the largest share of Bitcoin futures open interest. Wow, the real flippening that no one is talking about: CME just flipped Binance for the largest share of Bitcoin futures open interest . Bittersweet -- there will soon be more suits than hoodies here. (h/t @VidiellaLaura) pic.twitter.com/SIPRLMlFcy — Will (@WClementeIII) November 9, 2023 Open interest is a concept commonly used in futures and options markets to measure the total number of outstanding contracts. The metric repre
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Laos government will halt crypto businesses deemed inactive

On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements in what is considered an inactive status. At the same time, outstanding fees from crypto operators owed to the state reached a U.S. equivalent of $20 million, according to Laos Prime Minister Sonexay Siphandone. A lack of progress During the proceedings of the sixth ordinary session of the National Assembly’s ninth legislature, Siphandone acknowledged a lack of progress from the two companies. The delay in fee payments to the state was attributed to the sluggishness of certain entities, while numerous investors demonstrated noteworthy advancements, contributing significantly to the state budget. The PM also acknowledged that payments were likely to be slow due to the value of crypto currencies, specifically Bitcoin, dropping in value by more than 50% c
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BRICS: GDP in Purchasing Power Parity To Reach 45% Of World’s Economy

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The BRICS alliance is advancing at a rapid pace to outperform the G7 nations’ GDP in purchasing power parity (PPP). BRICS accounted for 19% of the global GDP in purchasing power parity terms. However, the new BRICS Plus, an 11-member bloc gave it a boost and now accounts for 36% of GDP in PPP this year. Also Read: BRICS: Dangers Emerge for Import-Export Sector as US Dollar Rises According to the latest report, BRICS plus GDP in PPP could reach 45% of the world’s economy in 2040, reported Bloomberg. The rapid rise of BRICS could potentially pose a threat to G7 nations and the Western-backed financial world. BRICS looks ambitious to dethrone the US dollar and replace a new currency as the world’s reserve status. Read here to know how many sectors in the US will be affected if BRICS stops using the dollar the trade. The move could send the US economy crashing and also lead to hyperinflation in the homeland. The next few decades remain crucial for the US dollar as external f
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Marathon Digital sees 670% revenue gain in Q3 as Bitcoin production surges

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Marathon announced a 467% increase in Bitcoin production year-on-year in the third quarter, while hashrate rose over 400% in the same timeframe. Bitcoin mining firm Marathon Digital Holdings saw its revenue surge $670% year-on-year in the third quarter of 2023, amid a nearly five-fold increase in Bitcoin production . The results saw Marathon also swing to a quarterly profit, with $64.1 million of net income in the third quarter, according to the firm’s Nov. 8 results filing. The firm partly attributed the improved financial results to a 467% spike in Bitcoin (BTC) production from 6.7 mined BTC in Q3 2022 to 37.9 BTC in Q3 2023. Similarly, Marathon’s energized hashrate boosted 403% over the same timeframe. Marathon’s Q3 Earnings Release is here: - Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices. - Adjusted EBITDA improves to $43.7M. - 8% increase in hash rate; expanding with hydro-powered ventures in Paraguay. - Long-term debt reduced by 56%,…
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SEC files opposition to Binance motion to dismiss

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Former Chief SEC Office of Internet Enforcement John Reed Stark shares SEC opposition with screenshot citing Binance’s Chief Compliance Officer’s statement that Binance was operating as an unlicensed securities exchange in the United States. According to Stark’s Nov. 8 post on X, Binance might be outdone in court. A deliberate choice The opposition  states that Binance has operated as a broker, dealer exchange and clearing agency in the United States, making the exchange subject to federal securities laws. The SEC Just Filed Their Opposition to Binance’s Motion to Dismiss. The Comprehensive Pleading is Powerful, Compelling and Strongly Supported in Both Fact and Law. Stick a fork in it Binance, you’re done. https://t.co/R8SBKUfuy8 pic.twitter.com/FE7wTdaAme — John Reed Stark (@JohnReedStark) November 8, 2023 For this reason, the document states not abiding by these rules was “a deliberate choice.” You might also like: US lawmaker seeks to slash SEC chief’s salary to ju
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An in-depth look at the regulatory landscape of privacy coins

As the crypto space continues to evolve, regulatory scrutiny is shifting towards privacy coins, with authorities wary of their misuse in activities such as money laundering. Unlike mainstream digital currencies such as Bitcoin (BTC) or Ethereum (ETH), privacy coins are specifically created to offer users greater anonymity and privacy for their transactions. This article delves into the complex regulatory environment surrounding such coins and explores their impact on the world of crypto. What is a privacy coin? Contrary to popular belief, cryptocurrencies are not wholly anonymous; instead, they mostly offer pseudonymity. It means anyone with the time and tools can trace a crypto transaction to a real-world identity. This is because a blockchain records all activities in and out of a wallet, and these records are publicly available. Furthermore, with the proliferation of know-your-customer (KYC) and anti-money laundering (AML) regulations around centralized crypto exchanges, anyon
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Shiba Inu: Exact Moment SHIB Could Shoot Up in Price

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Shiba Inu, the iconic meme-token that caused a frenzy in the crypto currency sphere in October 2021. It skyrocketed by an astonishing 1,000% in a mere 30 trading days. The meme coin continues to captivate the interest of investors. This extraordinary surge delivered substantial profits to early backers and propelled SHIB into a prominent position in the crypto currency world. Despite the fact that Shiba Inu currently trades at roughly 90% below its all-time peak, it retains a loyal following of investors. At the moment, SHIB is valued at $0.00000819, showing a modest 1.4% daily decline. Notably, in the past month, this meme coin displayed a noteworthy 18% increase in its value. It further hinted at the possibility of a more significant breakout in the near future. Can Shiba Inu replicate the remarkable performance it exhibited in October 2021? The answer to this question may hinge on the occurrence of a potential bull market. Along with this, Shiba Inu’s developments will play a pivo
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CoinEx Halts XDAG Trading and Withdrawals After Massive Hack

CoinEx decided to delist XDAG trading pairs and stop deposit/withdrawal services for XDAG starting November 6, 2023.   On September 12, 2023, CoinEx experienced a security breach, leading to a significant theft of XDAG holdings. CoinEx initiated discussions with the XDAG core development team to address the issue of reimbursing affected users. Cryptocurrency exchange CoinEx announced on November 6 what led to the delisting of XDAG. The exchange suffered a massive hacking incident in September that resulted in the theft of a significant portion of the asset’s circulation supply. On September 12, CoinEx suffered a security breach by unknown hackers who managed to steal all XDAG holdings from the exchange’s hot wallets. The amount stolen accounted for a large portion of the total supply, according to CoinEx. After the hack, the exchange reportedly entered into discussions with the XDAG core development team to explore potential solutions for reimbursing affe
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Retail and e-commerce lead crypto adoption, new study reveals

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A study by crypto tax software CoinLedger found that the retail and e-commerce industries have the largest number of companies offering to purchase through crypto currency. The study, received by crypto.news, compiled a list of more than 300 large companies. It turned out that in the ranking of cryptocurrency acceptance, retail, and e-commerce take first place. 60 companies accept cryptocurrency payments. These companies include Adidas, Yankee Candle, and H&M, as well as online shopping platforms such as Etsy. Crypto adoption rate | Source: CoinLedger Second on the list is the food and catering sector, with 54 companies represented. Examples include Chipotle, Chuck E Cheese’s, Domino’s, and Hard Rock Café, as well as delivery services such as DoorDash and Uber Eats. In third place is luxury retail, with 35 companies offering the service, including high fashion brands Gucci and Ralph Lauren, luxury watch retailer Hublot, and jewelry companies such as Jewelry Relations
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Tellor Reaches 12-month High, Is a Correction Looming?

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Tellor (TRB) sees a bullish resurgence, hitting a 12-month high at $126.26, with solid support at $115, suggesting potential for a sustained rally.  Notable whale activity fuels TRB’s confidence as a significant investor nets nearly $5 million in profit in just hours. TRBUSD faces potential correction as overbought conditions and resistance levels hint at a possible downturn. Bullish momentum in the Tellor (TRB) market faltered early in the day, retreating from $117.06 to a low of $111.78 before recovering support and resuming the ascent back into the $115 level. The price movement implies that there may be substantial purchasing activity at this level, suggesting that the bulls may prolong the rally. Bulls considerably increased the TRB price to a 12-month high of $126.26, confirming the market’s optimistic solid mood. At press time, the TRB price exchanged hands at $125.6, a 7.88% increase from the intra-day low.  TRB/USD 24-hour price chart (source: C
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Crypto strategist bullish on SOL, LINK, ADA, and QUBE

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The crypto market has seen significant growth in recent months, and experts predict this trend may continue until 2024. InQubeta (QUBE), Solana (SOL), Chainlink (LINK), and Cardano (ADA) are among the top coins driving this upward trend.  Industry analysts are bullish on the above coin. Specifically, InQubeta is being monitored. The project launched earlier this year to help startups fund artificial intelligence (AI)-based projects. Its model is being tracked while its presale has raised over $4.2 million. InQubeta: rooting for decentralized governance  The Collins Dictionary has named “AI” the “word of the year,” indicating the increasing impact of AI on the economy worldwide. The timing of InQubeta‘s launch couldn’t be better, as it aims to bridge the gap between AI and decentralized finance (defi), accelerating growth.  InQubeta offers a platform for investors to tap into the world of startups and even create a steady source of income, regardless of their budget or experienc
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TradFi-friendly crypto portfolio management: MC2 Finance joins Cointelegraph Accelerator

Decentralized crypto wealth management platform MC2 Finance becomes the latest participant of the Cointelegraph Accelerator program. Decentralized finance (DeFi) might hold immense potential to solve the problems faced by traditional finance (TradFi). However, DeFi still struggles with onboarding new users -both retail and institutional- due to its limitations on the user experience side.  Despite all the innovation and development happening on the infrastructure level, the “DeFi revolution” is presented to users with unnecessarily complicated screens that would require expert-level technical knowledge.  To reach the mainstream, blockchain protocols need a robust infrastructure on the back while delivering a smooth, clean and user-friendly experience on the front. The easiest way to achieve this is to take a cue from what has worked in TradFi and fintech all these years in terms of user experience. MC2 Finance, a decentralized crypto asset management platform, aims to onboard both T
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Bitcoin Aims For $204K in the Next Bull Cycle: Technical Analyst

Dan Gambardello predicts Bitcoin price would climb to $204,000 in the next bull cycle. The upcoming market rally would push the crypto market cap to a record $10 trillion. Gambardello believes Ethereum would rally to $20,000 in the next bull run. Dan Gambardello, founder of Crypto Capital Venture, has predicted that Bitcoin price would climb to $204,000 in the next bull cycle. According to the technical analyst, the upcoming market rally would also push the crypto market cap to a record $10 trillion. $10 trillion total crypto market cap incoming: BTC = $204,000 ETH = $20,000 XRP = $18 ADA = $11 pic.twitter.com/OyNh4Sd9dQ — Dan Gambardello (@cryptorecruitr) November 3, 2023 Gambardello predicted this in a recently uploaded video and explained how Bitcoin price has developed in cycles over the past few years. The crypto analyst shared a 2018 Bitcoin chart, analyzing how the flagship crypto would evolve. His speculative Analysis projected two peaks for Bi
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