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Cardano (ADA) Faces Further Decline, $0.3389 Support Under Threat

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My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.



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Cantor Fitzgerald Deepens Tether Ties With 5% Stake Acquisition

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Cantor Fitzgerald, a prominent US financial services firm, is expanding its alliance with Tether, a key player in the digital asset industry and the issuer of the world’s largest stablecoin.

According to reports, the firm has agreed to acquire a 5% stake in Tether as part of a broader collaboration that includes Bitcoin-backed lending initiatives.

Tether Mints $13 Billion USDT as Cantor Fitzgerald Deepens Tie

The acquisition talks, reportedly finalized in 2023, valued the 5% stake at approximately $600 million. This partnership positions Tether to gain strategic advantages, particularly as Cantor Fitzgerald’s CEO, Howard Lutnick, takes on his new role as Secretary of Commerce under President-elect Donald Trump.

Market observers suggest that the nomination raises the possibility of enhanced regulatory support for Tether, which has faced scrutiny over potential violations of sanctions and anti-money laundering regulations—a claim the company has denied. However, Lutnick has promised to step down from his positions at Cantor Senate confirmation.

Beyond the ownership stake, Tether is expected to support Cantor Fitzgerald’s Bitcoin lending program, a multi-billion-dollar initiative. The program aims to offer loans backed by Bitcoin, initially funded with $2 billion, with plans for significant future expansion.

Meanwhile, Cantor Fitzgerald is already a critical partner for Tether, reportedly holding a significant portion of the stablecoin issuer’s $134 billion reserves in US Treasury bills.

As Cantor Fitzgerald deepens its involvement with Tether, the firm has continued its aggressive token minting. On November 24, blockchain analytics platform Lookonchain reported that stablecoin company minted an additional $3 billion USDT, bringing the total minted since November 8 to $13 billion. This expansion has pushed the total supply of USDT to approximately $132 billion.

Tether USDT Supply
Tether’s USDT Supply. Source: Tether

The increased USDT supply may reflect the growing demand for stablecoins, often used to hedge market positions or facilitate crypto transactions without converting to fiat. This liquidity influx could reduce volatility and enhance price stability across the digital asset market.

This surge in USDT supply coincides with a broader market rally led by Bitcoin and other assets such as Dogecoin and Solana, signaling renewed investor confidence in the crypto ecosystem.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Can the SAND Token Price Rally Be Sustained?

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SAND, the token powering the metaverse platform The Sandbox, has seen a meteoric rise, surging 55% in the past 24 hours. This performance far outpaces leading assets like Bitcoin and Ethereum, which each gained just 1% during the same period. SAND’s trading volume has also skyrocketed, surpassing $1.91 billion — a climb of over 500% in 24 hours.

On-chain data has shown a significant increase in daily SAND transactions and a decrease in selling pressure. These factors suggest the potential for a sustained rally. 

The Sandbox Holders Adopt a Bullish Approach

According to CryptoQuant’s data, the daily count of SAND transactions has rocketed over the past few days. For context, on November 23, 2,940 transactions involving SAND were completed, representing the highest count over the past seven days. 

This is a bullish signal for the metaverse-based token because a surge in an asset’s transaction count indicates increased activity and interest. It signals higher demand and participation by market participants. Also, it suggests growing confidence in SAND’s price, potentially driving it further upward.

SAND Transaction Count
SAND Transaction Count. Source: CryptoQuant

Additionally, a notable increase in exchange withdrawals for SAND has been observed. Per CryptoQuant’s data, the token’s exchange withdrawal transactions currently total 877, its single-day highest since June 2023. 

The exchange withdrawing transaction metric tracks the number of cryptocurrency withdrawals from exchanges. A spike in this metric indicates that investors are moving their assets off exchanges. This is a bullish signal, suggesting increased confidence and a potential long-term holding trend.

SAND Exchange Withdrawing Transactions
SAND Exchange Withdrawing Transactions. Source: CryptoQuant

SAND Price Prediction: Rally Above $0.66?

On the daily chart, SAND is trading at $0.61, a level last seen in April. Its price currently sits below the resistance at its cycle peak of $0.66. If bullish momentum strengthens, SAND could rally toward this peak and reclaim it.

SAND Price Analysis
SAND Price Analysis. Source: TradingView

Conversely, if bullish sentiment wanes and selling pressure strengthens, the SAND token price may plunge toward support at $0.56, invalidating this bullish outlook.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Token Unlocks to Watch Next Week: AVAX, ADA and More

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Token unlocks release tokens previously restricted under fundraising agreements. Projects strategically schedule these releases to minimize market pressure and prevent token price declines.

Here are three major token unlocks to keep an eye on next week.

Immutable (IMX)

  • Unlock date: November 29
  • Number of tokens unlocked: 24.52 million IMX
  • Current circulating supply: 1.67 billion IMX

Immutable, a Layer-2 solution for scaling NFTs on Ethereum, raised $12.5 million in just one hour during its IMX token sale on CoinList in September 2021. By March 2022, the project secured $60 million in an investment round, followed by an additional $200 million from investors such as ParaFi Capital, Declaration Partners, and Tencent Holdings.

On November 29, Immutable will release 24.52 million new IMX tokens into circulation. These tokens will support project development and growth within the broader Immutable ecosystem.

IMX token unlock
IMX Unlock. Source: Tokenomist

Optimism (OP)

  • Unlock date: November 30
  • Number of tokens unlocked: 31.34 million OP
  • Current circulating supply: 1.25 billion OP

Optimism, a Layer-2 scaling solution, enhances transaction speed and reduces costs on the Ethereum mainnet. Its OP token is vital for governance, enabling holders to vote on proposals and influence the network’s development and management.

On November 30, Optimism will release 31.34 million OP tokens into circulation. Tokenomist (formerly TokenUnlocks) reports that core contributors and investors will receive these tokens.

OP unlock
OP Unlock. Source: Tokenomist

1Inch (1INCH)

  • Unlock date: November 30
  • Number of tokens unlocked: 98.74 million 1INCH
  • Current circulating supply: 1.27 billion 1INCH

1inch is a decentralized exchange aggregator that pools liquidity from multiple DEXs to offer users the best trading rates. It streamlines trading by identifying the most efficient transaction routes, minimizing slippage, and lowering fees.

On November 30, 1inch will unlock nearly 100 million 1INCH tokens. These tokens are allocated for developers, early investors, and venture capital funds.

1INCH unlock
1INCH Unlock. Source: Tokenomist

Sui (SUI)

  • Unlock date: December 1
  • Number of tokens unlocked: 64.19 million SUI
  • Current circulating supply: 2.84 billion SUI

Sui is a high-performance Layer-1 blockchain designed to enhance network operations and security using a Proof-of-Stake consensus mechanism. Developed by Mysten Labs, the project was founded in 2021 by former Novi Research employees who were instrumental in creating the Diem blockchain and the Move programming language.

The SUI token supports governance, allowing holders to vote on key proposals and influence the platform’s direction. On December 1, the next token unlock will release a significant portion of tokens allocated to Series A and B participants, the community reserve, and the Mysten Labs treasury.

Sui unlock
SUI Unlock. Source: Tokenomist

ZetaChain (ZETA)

  • Unlock date: December 1
  • Number of tokens unlocked: 53.89 million ZETA
  • Current circulating supply: 517.85 million ZETA

ZetaChain is a decentralized blockchain platform designed to enable seamless interoperability between different blockchain networks. The platform’s standout feature enables cross-chain communication, allowing the exchange of tokens and data across blockchains like Ethereum and Binance Smart Chain.

On December 1, ZetaChain will release nearly 54 million ZETA tokens. These tokens will support various initiatives, including a user growth pool, an ecosystem growth fund, rewards for core contributors, advisory roles, and liquidity incentives.

Zeta unlock
ZETA Unlock. Source: Tokenomist

Next week’s cliff token unlocks will also include Cardano (ADA), Ethena (ENA), and dYdX (DYDX), among others, with a total combined value exceeding $540 million.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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