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Binance Adds XRP and DOGE to Smart Arbitrage Offerings, Price Rally Is Here

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5 hours ago

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The world’s largest crypto exchange Binance on Friday said it has added XRP and Dogecoin (DOGE) to smart arbitrage offerings. Binance Earn’s addition of XRP and DOGE sparked huge speculation for an imminent price rally. The crypto exchange has also announced a special campaign with rewards totaling 45,000 USDT to celebrate the listings.

Binance Lists XRP and Dogecoin to Smart Arbitrage

XRP and Dogecoin (DOGE) were added to the Smart Arbitrage offerings by Binance Earn, according to an official announcement by Binance on November 8. Notably, users can start XRP and Dogecoin with a minimum investment of 12.5 USDT. Until now, it only supported Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Smart Arbitrage leverages the funding rate mechanism by hedging their futures position with a spot position to collect the funding fee. The strategy hedges out price movement risks by taking opposite positions in the futures and spot markets. Thus, profit on a long position will offset loss on a short position (or vice versa).

In addition, Binance has announced a special campaign with rewards totaling 45,000 USDT to celebrate XRP and Dogecoin (DOGE) listings. The promotion period is valid until 23:59 UTC on November 21.

The top crypto exchange claims users can earn up to 20.95% APR in the promotion period. Also, a total reward pool of 30,000 USDT will be distributed on a first-come, first-served basis.

“All users who opt-in to the Promotion and hold any Smart Arbitrage portfolio for more than 72 hours during the Promotion Period will receive a 10% Bonus APR on their first 1 – 2,500 USDT subscriptions, as per Binance.“

Moreover, all regular and VIP 1-2 users who opt-in to the promotion Smart Arbitrage portfolio with at least 10,000 USDT for 72 hours are eligible to get a 45% trading fee rebate.

Ripple’s Token and DOGE Price To Rally

With investors already upbeat on XRP and DOGE after Donald Trump’s win, the tokens witnessed upside momentum. High odds for XRP ETF launch and Elon Musk’s Department of Government Efficiency (D.O.G.E.) are the reasons behind the positive sentiments.

XRP price 30x rally is expected as it jumped 9% this week, with the price currently trading at $0.55. The 24-hour low and high are $0.542 and $0.560, respectively. Furthermore, the trading volume has decreased by 37% in the last 24 hours, indicating a decline in interest among traders.

Meanwhile, DOGE price jumped 3% in the past 24 hours and 25% weekly. The price currently trades at $0.19, with a 24-hour low and high of $0.186 and $0.199, respectively. Dogecoin price is predicted to hit $10 in this bull cycle.

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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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Ethereum Foundation Reveals $970M Treasury in 2024 Report: Here’s More To Know

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3 hours ago

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November 8, 2024

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Non-profit organization Ethereum Foundation sparked a tidal wave of discussions across the broader crypto market on Friday as it revealed its 2024 report, boasting a treasury of $970 million. Notably, Aya Miyaguchi, the firm’s ED, spotlighted key details such as the current EF teams, EF grantees, and ongoing efforts to enhance the Ethereum ecosystem, underscoring the firm’s advancements. In turn, this report promptly caught the eyes of market participants globally, giving a clear understanding of the firm’s influence across the broader ETH market.

Here’s a brief overview of the EF’s 2024 report which was recently revealed by ED Aya Miyaguchi.

Ethereum Foundation Unveils 2024 Report Revealing Key Details

The Ethereum Foundation’s ED took to X on November 8, revealing the 2024 report while also offering vital insights into the firm’s recent work. As per the non-profit firm’s report, EF contains numerous teams within its branch of operations that contribute to the broader ecosystem.

Teams such as Robust Incentives Group (RIG), Protocol Support, and Devcon offer vital support to network development, per the EF’s report. These teams oversee key aspects such as studying mechanism design and cryptos for Ethereum, processes and perspectives to support its long-term maintenance and hosting events to foster collaboration, education, and promoting ETH’s values.

Further, the ‘EF grants’ also play a crucial role in jacking up work across the ecosystem. These grants are often supported by EF teams as the teams play a role in approval and evaluation. Also, the NPO reveals that it supports organizations that drive ecosystem growth, encompassing entities like Argot Collective, Geodework, L2BEAT, Nomic Foundation, and 0xPARC.

As of October 31 this year, the non-profit organization boasted $970.2 million in treasury. This encompassed $788.7 million in crypto and $181.5 million in non-crypto investments and assets, sparking market discussions.

Intriguingly, the lion’s share of the firm’s crypto holdings remains in ETH, an alarming concern for market participants. Notably, 99.45% of the firm’s holdings evaluates to 0.26% of the coin’s total supply, solidifying market concerns. “The Ethereum ecosystem is supported by billions secured in treasuries belonging to foundations, organizations, and DAOs,” the report added.

EF Foundation Implements Conflicts of Interest Policy

Also, the report revealed that the non-profit firm introduced a conflict of interest policy this year. The aim remains to oversee and set some boundaries for EF team members on how they navigate particular relationships with the broader ecosystem.

The Ethereum Foundation clarified that the policy also remains poised for a review after a year of its introduction for feedback and potential changes. Overall, the report garnered significant attention, underscoring the firm’s influential stance across the broader ETH market.

Meanwhile, CoinGape Media recently reported that the EF announced launching its first short-lived Pectra testnet ‘Mekong.’ This advancement brought further market attention to the organization.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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Will XRP Price Rally To $1 After Hitting Monthly High?

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15 hours ago

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November 7, 2024

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XRP price has recently witnessed a notable uptick, hitting its highest level since early October. The cryptocurrency, currently trading above the key support level of $0.52, is testing resistance near $0.56. This increase has raised questions about whether XRP could rally further, potentially reaching the $1 mark.

XRP Price Eyes $1 as Momentum Builds, Can Bulls Break Resistance?

XRP price hit a monthly high of $0.578, its peak since early October. This price surge has been boosted by strong investor interest, reflecting broader optimism across the crypto market. More so XRP price is now testing a critical resistance level at $0.56, which, if surpassed, could pave the way for a rally toward $0.60 or even higher.

However, caution remains as technical indicators suggest potential resistance ahead. An impending “death cross” formation, with the 50-day moving average closing in on the 200-day moving average, may indicate a bearish shift if realized. This pattern has historically preceded downward trends in XRP prices.

Additionally, XRP price is supported by positive momentum signals. The Moving Average Convergence Divergence (MACD) indicator shows the MACD line above the signal line, suggesting sustained buying interest. This bullish crossover, coupled with positive histogram bars, indicates that momentum remains on the upside. 

If the MACD line continues above the signal line, XRP price could maintain its upward trajectory, potentially moving closer to the $1 mark.

Meanwhile, the Relative Strength Index (RSI) for XRP sits at around 67, nearing the overbought zone. While this suggests that XRP price has been experiencing strong buying pressure, it also indicates the possibility of a short-term consolidation. A further increase in RSI beyond 70 could trigger a price correction, as overbought conditions often precede pullbacks.

Source: TradingViewSource: TradingView
Source: TradingView

Speculation on SEC Chair’s Removal Fuels Optimism for Ripple

Consequently, market analyst Ben “BitBoy” Armstrong has speculated that Ripple and XRP may benefit if SEC Chair Gary Gensler is removed from office. With recent political shifts in the United States, some believe that a change in SEC leadership could lead to regulatory leniency for Ripple and other crypto firms. BitBoy suggests that such a move could attract capital into XRP, further driving its value upward.

Adding to this speculation, Ripple’s CEO recently echoed similar sentiments, advocating for new leadership at the SEC. While no official announcements have been made regarding potential changes, the market remains optimistic about the possible impact on price. Moreover, Brad Garlinghouse suggested that Gary Gensler is accountable for Democrats’ election performance.

At press time, XRP price is $0.55, reflecting a 3% increase in the past 24 hours with a market cap of $31.68 billion. Should the Ripple token manage to break and hold above this level, it could set the stage for a rally toward the $1 milestone. However, a failure to overcome this resistance may result in a pullback to the $0.52 support.

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Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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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Cardano, Dogecoin, And XRP Price Are No Match For The ETFSwap (ETFS) 37,000% Rally By 2025

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16 hours ago

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November 7, 2024

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In the vibrant realm of cryptocurrency, some projects shine brightly for their innovation and potential for remarkable returns. Among them, ETFSwap (ETFS) is creating a buzz with its audacious target of a 37,000% surge by 2025, prompting investors to compare it to established tokens like the Cardano price, the Dogecoin price, and the XRP price, as its unique features could revolutionise investment strategies.

ETFSwap (ETFS): Set To Surpass Competitors With 37,000% Growth Potential

ETFSwap (ETFS) is currently in its bonus round of the presale, and the excitement surrounding this phase is palpable. With a focus on market making and efficient trading, ETFSwap (ETFS) allows users to engage in trading activities without the limitations of expiration dates. The platform offers position sizes of up to 50x, enabling traders to maximize their potential gain, whether they are going long or short.

Among the features that set ETFSwap (ETFS) apart is its commitment to security and privacy. By employing zero-knowledge (ZK) proof technology, it enables transactions to remain confidential. This level of transparency is critical for building trust among investors. Also, the platform has successfully completed KYC requirements with SolidPROOF, demonstrating its commitment to transparency and user safety.

Moreover, ETFSwap (ETFS) uniquely integrates traditional finance and decentralised finance (DeFi), enabling investors to benefit from both realms. This approach allows for portfolio diversification through various ETFs, helping investors spread risk and potentially enhance returns across different sectors. Additionally, the ETFS token is now listed on CoinMarketCap, establishing ETFSwap (ETFS) as a frontrunner in the cryptocurrency space.

The anticipation surrounding the beta launch of ETFSwap (ETFS) is building, especially as it sets its sights on a staggering 37,000% rally by 2025, outpacing established players like the Cardano price, the Dogecoin price, and the XRP price. With backend development and rigorous testing already completed, the platform promises efficiency through staking rewards, liquidity pools, and a live ETF price tracker. The excitement is infectious, as potential investors recognize the unique value of participating in this transformative project that could redefine the crypto landscape.

Cardano Price: Faces Challenges Amidst Innovative Blockchain Advancements

The Cardano price has gained attention for its innovative blockchain technology and sustainability focus. Designed for smart contracts and decentralised applications, the Cardano price aims to create a secure, scalable ecosystem. However, it faces challenges in gaining traction compared to other cryptocurrencies. 

The Cardano price has fluctuated due to market sentiment and economic factors. While it boasts a dedicated community, the potential for explosive growth like that of ETFSwap (ETFS) remains uncertain. Investors seeking substantial returns may find the current trajectory of the Cardano price less appealing, especially with ETFSwap’s ambitious goals on the horizon.

Dogecoin Price: Volatility Raises Questions About Long-Term Viability

The Dogecoin price, originally a meme, has become a well-recognized cryptocurrency. Its community-driven nature and celebrity endorsements boost popularity, but the Dogecoin price’s underlying fundamentals remain questionable. While the Dogecoin price has seen significant surges, its long-term viability as an investment is debated. 

The volatility of the Dogecoin price can benefit some investors, yet its lack of a robust use case compared to platforms like ETFSwap (ETFS) raises concerns. As the cryptocurrency market matures, investors may prefer projects with concrete applications, making ETFSwap’s offerings particularly attractive.

XRP Price: Faces Regulatory Challenges Amid Cross-Border Payment Ambitions

The XRP price aims to streamline cross-border payments between financial institutions. Despite its technological advantages, the XRP price faces regulatory scrutiny that hinders growth and creates uncertainty. While the XRP price has established partnerships and use cases, its potential for dramatic increases, like ETFSwap’s (ETFS) projections, seems limited. Investors may be attracted to ETFSwap’s (ETFS) innovative trading model and significant returns, especially considering the ongoing challenges the XRP price faces in the regulatory landscape.

Conclusion

While the Cardano price, the Dogecoin price, and the XRP price have their strengths, ETFSwap (ETFS) offers unmatched potential for a 37,000% rally by 2025, making it an exciting investment opportunity as its set to launch on exchanges.  Meanwhile, ETFSwap (ETFS) presale tokens are selling quickly. Buy yours now at $0.05769 before they are available on exchanges.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

 



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