Author: MEAOWS
Derive Protocol’s Breakthrough in DeFi Derive Protocol has achieved a significant milestone, surpassing $100 million in Total Value Locked (TVL), signaling a surge in decentralized finance (DeFi) participation. This achievement highlights the increasing demand for onchain options, perpetuals, and other structured products in the cryptocurrency space. Along with the growth in TVL, Derive has set new records for both trading volume and active traders. Currently, users on Derive Protocol can earn up to 10% yield on USDC deposits. In addition, notional trading volume has reached $369 million, with 5,416 monthly active trades recorded. This robust growth aligns with the rising…
Altcoin Carnage Leads to Sharp Losses In the past 24 hours, several major altcoins, including XRP, Dogecoin (DOGE), and Cardano (ADA), have experienced substantial drops of up to 12%. This sudden downturn follows a strong rally in November, and market analysts have been warning about the possibility of short-term selling pressure as the market shows signs of overheating. Bitcoin Holds Steady Amid Altcoin Sell-Off While Bitcoin (BTC) experienced a more moderate 3% decrease, other cryptocurrencies like Ethereum (ETH) and Solana (SOL) saw deeper losses, with Tron (TRX) suffering the most, shedding 17% of its value. Overall, the crypto market capitalization…
On Monday, the cryptocurrency market saw a sharp decline, with major cryptocurrencies posting significant losses. Bitcoin (BTC), while outperforming other assets, experienced a 5% drop in the last 24 hours, falling to just over $95,000. Ethereum (ETH) and several altcoins were hit even harder, marking a widespread downturn across the sector. Bitcoin’s Fall After Early Rally Bitcoin had briefly surged above $100,000 earlier in the day but retreated sharply, dropping to the low $96,000 range by the end of the U.S. trading session. Despite the decline, Bitcoin held up better than many altcoins, which experienced more severe losses. This drop…
Crypto Market Surpasses Expectations with Record Growth November proved to be a defining month for the cryptocurrency market, as the sector witnessed an impressive 45% increase in market capitalization. This growth made it the strongest monthly performance in the history of digital assets, propelling the total market cap to a staggering $3.3 trillion. The surge reflects the growing influence and adoption of cryptocurrencies globally. Political Events Spark a Historic Rally A key driver behind the remarkable rally in November was Donald Trump’s reelection, which ignited a wave of positive sentiment across the crypto landscape. The reelection helped fuel a broad…
Ether ETFs Hit Record Inflows Amid Price Surge U.S. Ether ETFs have seen a massive boost in investor activity, with a record $428.5 million flowing into these funds on Thursday. This surge in investment follows a notable 60% rise in Ether’s price over the past month, currently trading near $3,900. The largest share of this influx was driven by BlackRock’s ETHA ETF, which alone secured $292.7 million, setting a new record for the fund. Over the past five days, Ether ETFs have gathered nearly $800 million in net inflows. Since launching in July, these ETFs have collectively attracted over $1.3…
Bitcoin’s Record High: A Result of Political and Regulatory Shifts Following the recent U.S. presidential election, the cryptocurrency market has been riding a wave of positive momentum, with Bitcoin reaching an all-time high above $100,000. This surge is attributed to a combination of favorable regulatory actions and the broader economic environment, which have collectively fueled Bitcoin’s growth. Paul Atkins’ SEC Appointment Sparks Market Confidence A key factor behind Bitcoin’s impressive rise is the nomination of Paul Atkins as the new SEC chair. Atkins, known for his pro-crypto stance, provided the final push needed for Bitcoin to surpass the $100,000 milestone.…
Massive Liquidation Event Across Crypto Futures Markets In the last 24 hours, the crypto futures market experienced a significant shake-up, with over $1 billion worth of liquidations as Bitcoin (BTC) saw a sharp decline. After reaching an all-time high just above $103,000, Bitcoin’s price suddenly dropped to $92,000 before stabilizing around $97,000. This rapid price movement resulted in widespread forced closures of leveraged positions, particularly among traders who had bet on rising prices. The liquidations were heavily concentrated in BTC futures, which accounted for nearly $500 million of the total liquidations. Of this, $420 million came from traders who were…
Bitcoin’s Recent Volatility and Market Confusion Bitcoin (BTC) has been displaying significant volatility recently, with sharp price swings that point to growing uncertainty in the market. While Bitcoin briefly surged to record highs above $103,000, it quickly fell to $91,000, only to end the day around $97,000. This dramatic price movement signals a shift from the bullish dominance that previously characterized the market, leaving traders in a state of confusion. For traders driven by the fear of missing out (FOMO), these erratic price actions may be tempting, but caution is necessary. The High-Wave Candle and Its Implications The primary technical…
Pudgy Penguins Expands into Crypto with PENGU Token The popular Pudgy Penguins NFT collection is taking a significant step into the cryptocurrency space with the announcement of their new token, PENGU. Known for its charming and vibrant penguin characters, the Pudgy Penguins brand has built a massive following on platforms such as Instagram, X, and YouTube. Now, the team behind the project is set to launch PENGU on the Solana blockchain later this year. PENGU Token Distribution and Key Details The PENGU token will have a total supply of 88 billion tokens, with a strategic distribution plan to benefit both…
Bitcoin (BTC) recently faced a significant drop after reaching new all-time highs near $100,000. The cryptocurrency plunged unexpectedly, dipping below $94,000, which took many market participants by surprise. This sharp pullback serves as a reminder of the unpredictable volatility that often characterizes Bitcoin and the broader crypto market. Bitcoin Peaks and Plunges After achieving record highs just shy of the $100,000 mark, Bitcoin quickly fell to $93,468. Prices on major exchanges like Binance and Coinbase saw similar drops, with values falling to $90,500 and $92,000, respectively. This rapid decline stirred up concerns among traders, questioning whether this was a short-term…