Crypto exchange Coinbase’s shares closed the day 31% higher, leading gains among digital asset-related stocks.
Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?
Bitcoin could top $1 million per coin during Trump’s second term, according to historical price data.
Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks
Among the largest cryptocurrencies by market capitalization, Solana (SOL) has surpassed Binance Coin (BNB) to secure the fourth position. SOL has recently experienced a 14% increase, which has enabled it to surpass BNB.
This represents an emerging market momentum of Solana. According to Coingecko, the market capitalization of Solana has reached over $87 billion in comparison to that of Binance Coin at almost the $84 billion mark. Thus, this shows the emergence of Solana’s strong appeal to investors.
Solana’s most recent ascent has brought it into the limelight, prompting crypto devotees and analysts to contemplate whether this represents a new era for the network. Despite a nearly 4% increase in BNB during the same period, Solana’s rapid recovery and robust community support have eclipsed its rival.
Increasing User Engagement and Activity
Apart from market size, active participation and complete information on-chain have raised Solana’s price. The network just noted a historic first: 123 million active monthly addresses in October, up 40% from September. According to the latest data, active addresses increased month by month displaying participation and confidence in the promise Solana presented.
According to the real-time economic activity reports by Blockworks Research, transaction fees and MEV tips recently peaked at a new all-time-high figure of $11 million on October 24th. These values have remained much above past ones, even though they have fallen somewhat lately.
Particularly from regular users and small-scale transactions, the higher use and engagement show the dynamic character of Solana’s ecosystem and its capacity to draw each daily players.
Memecoins Add To The Frenzy
The memecoin mania has taken off within its network, thereby amplifying trading volume and attracting more users, which has contributed to Solana’s rally. Pump.fun, a memecoin generator, and Raydium, a decentralized exchange, have received substantial attention. Pump.fun generated $30 million in revenue in October. On the other hand, Raydium’s trading volume exceeded $30 billion.
Memecoins have been a significant factor in the recent growth of Solana, as a growing number of users are flocking to these platforms to trade or generate meme-based tokens. The emergence of these niche areas has heightened the enthusiasm surrounding Solana, illustrating its adaptability as a blockchain that accommodates both mainstream and unconventional projects.
DeFi Expansion Boosts Solana’s Ecosystem
The price and volume of token transactions are not the only factors that contribute to Solana’s growth. According to a research by Messari, the Solana decentralized finance ecosystem is experiencing growth in terms of value locked (TVL), reaching $5.8 billion in Q3 2024. This is a 25% increase from the previous quarter, which propelled Solana to the position of third largest network by TVL.
Featured image from Reddit, chart from TradingView
Tether swaps more than 2 billion USDT to the Ethereum network
The vast majority of Tether’s USDT volume exists on the Tron network due to comparatively lower fees and faster transaction finality.
Arkham launches crypto perpetuals exchange
Analysts expect crypto products to proliferate after Republican presidential candidate Donald Trump’s Nov. 5 US election win.
The Protocol: Elections, Schmections. Blockchain’s Got Work to Do
The blockchain industry might get a boost as former U.S. President Donald Trump wins a second term, promising to keep his promises, including a long list of Bitcoin- and crypto-related pledges.
How This Crypto Hedge Fund Nailed the Trump Trade
Quinn Thompson, the founder of crypto hedge fund Lekker Capital, shared with CoinDesk why he was so confident Trump would win despite concerning polls.
The future of money and backbone of globalization 2.0 is the cost of consensus
The future of money is the cost of consensus, and the economy of the future will usher in the next era of globalization.
Senator Lummis' Bitcoin reserve proposal faces uphill battle
A US strategic Bitcoin reserve faces steep odds, with legislative hurdles and economic risks stalling approval.
Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics.
Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs.
Shiba Inu Burn Rate Soars
The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price.
According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction.
This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession.
Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024.
Can SHIB Continue To Surge Alongside Dogecoin?
Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest.
However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs.
Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197
Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics.
Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs.
Shiba Inu Burn Rate Soars
The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price.
According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction.
This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession.
Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024.
Can SHIB Continue To Surge Alongside Dogecoin?
Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest.
However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs.
Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197
Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics.
Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs.
Shiba Inu Burn Rate Soars
The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price.
According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction.
This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession.
Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024.
Can SHIB Continue To Surge Alongside Dogecoin?
Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest.
However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs.
Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197
Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics.
Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs.
Shiba Inu Burn Rate Soars
The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price.
According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction.
This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession.
Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024.
Can SHIB Continue To Surge Alongside Dogecoin?
Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest.
However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs.
Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197
Shiba Inu Burn Rate Ignites 3,674% On Election Day, Will SHIB Move With Dogecoin Price To New ATH?
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics.
Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs.
Shiba Inu Burn Rate Soars
The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price.
According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction.
This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession.
Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024.
Can SHIB Continue To Surge Alongside Dogecoin?
Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest.
However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs.
Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197
Bitcoin price metrics align to project further upside for BTC
Bitcoin options and futures markets display moderate optimism after a new BTC all-time high, which could be indicative of new price highs.
US lawmaker doubles down on crypto promises after Trump win
With Republicans soon to have a majority in the US Senate, Cynthia Lummis said she plans to have lawmakers pass a bill to “build a strategic Bitcoin reserve.”
WazirX plans on launching a decentralized exchange
WazirX founder Nischal Shetty also announced the upcoming introduction of staking services to the centralized cryptocurrency exchange.
“Significant amount of capital” to be unlocked for crypto ventures — Bitfinex analysts
Analysts for the crypto exchange Bitfinex anticipate a rise in capital inflows following the reelection of Donald Trump in the United States.
Polymarket Projects a GOP House, Clinching Trump Trifecta
If the prediction market’s traders are right – and lately, they’ve been right – the election results are even more bullish for crypto than they appear.
Massive Bitcoin Short Liquidations Send BTC Above ATH – Trump Win Sets A Bullish Environment
Bitcoin surged to new all-time highs during election night, hitting an impressive $75,300 as market excitement reached a fever pitch. This milestone pushed Bitcoin into price discovery, igniting significant liquidations across trading platforms.
Data from CryptoQuant reveals an unprecedented surge in short liquidations, surpassing $100 million within a single one-minute candle, marking a historic moment for BTC.
This explosive price action was fueled by the surprise Trump win in the U.S. election, which appears to have sparked renewed enthusiasm for crypto assets as investors respond to the potential economic policies ahead. The election outcome has sent shockwaves through the market, with Bitcoin leading a fresh rally across the crypto space.
Now in uncharted territory, Bitcoin’s move above $75,000 represents a powerful statement of investor confidence despite broader economic uncertainties. As BTC enters price discovery mode, traders and investors alike are bracing for further volatility, while many anticipate that this momentum could extend into even higher highs.
The coming days will be critical as Bitcoin’s price action continues to drive liquidations and shape the outlook for the broader market.
Bitcoin Bullish Phase Begins
Bitcoin has officially entered a bullish phase, setting new all-time highs following Donald Trump’s election victory. As a known crypto supporter, Trump’s win has spurred market optimism, pushing BTC’s price above previous ATHs in a surge that began as election results favored his lead.
This bullish breakout was accompanied by a dramatic liquidation spike, signaling strong buying pressure as bearish bets were swiftly unwound. Data from CryptoQuant analyst Maartunn shows that short liquidations exceeded $100 million in a single one-minute candle—an unprecedented event that underscores the power behind this rally and suggests that Bitcoin’s upward momentum is just beginning.
In the coming days, volatility will remain high as global markets digest the election outcome and brace for the Federal Reserve’s upcoming interest rate decision on Thursday. Investors anticipate a dynamic market response, with possible ripple effects across traditional and crypto markets.
Should the Fed keep rates steady or make any dovish adjustments, it could further bolster Bitcoin’s rally and strengthen the broader crypto market.
The outlook remains bullish as market sentiment shifts positively with Bitcoin’s new price discovery phase. While short-term fluctuations are likely amid these major events, the long-term view favors a bullish trend as Bitcoin leads the crypto market higher in this new post-election environment.
BTC Visits Uncharted Territory
Bitcoin is trading at $73,800 after breaking its previous all-time highs and reaching a new peak of $75,300. This breakout has pushed BTC into uncharted territory, a phase that historically signals massive gains as bullish momentum builds.
The focus is whether Bitcoin can maintain its momentum above the previous ATH of $73,800, a critical support level that could propel it further into new highs if held successfully. However, the timing of this move aligns with a particularly volatile week, as the market anticipates the Federal Reserve’s upcoming meeting.
The Fed’s decision on interest rates could introduce significant unpredictability, potentially tempering BTC’s rise or even sending it below the $70,000 mark if the outcome diverges from market expectations. As BTC navigates this price discovery phase, investors are closely eyeing key levels.
Holding above $73,800 would strengthen the bullish narrative, while any pullback would test support levels and investor resilience amid broader market uncertainty. With volatility expected, this week could be pivotal for Bitcoin’s trajectory in the months ahead.
Featured image from Dall-E, chart from TradingView
