Altcoin
Crypto Funds See $305M Outflows, Institutions Bearish on BTC, ETH?
Crypto funds witnessed substantial outflows, amounting to approximately $305 million over the past week. This decline is primarily due to negative investor sentiment across various cryptocurrencies, with Bitcoin (BTC) and Ethereum (ETH) experiencing the most outflows.
Crypto Funds See $305M Outflows
According to the latest CoinShares report, crypto funds saw significant capital withdrawals last week, with total outflows hitting $305 million. This movement indicates a broader trend of negative sentiment permeating the digital asset space.
The report highlights that these outflows were predominantly from crypto funds based in the United States, which saw $318 million withdrawn. Conversely, smaller markets like Switzerland and Canada recorded minor inflows totaling $5.5 million and $13 million, respectively.
Most of these outflows were centered around Bitcoin, which accounted for $319 million. This substantial decline in investments coincides with economic data suggesting a reduced likelihood of interest rate cuts by the Federal Reserve.
Ethereum and Other Altcoins Also Hit
Ethereum, the second-largest cryptocurrency by market capitalization, also felt the impact, with outflows totaling $5.7 million. The trading volumes for Ethereum remained stagnant, reaching only 15% of the levels seen during its U.S. ETF launch week. This suggests a cooling interest among traders and investors, coinciding with an overall decrease in market activity.
Other cryptocurrencies like Solana recorded inflows, which points to selective investor interest in alternative assets. However, the focus remains on major players like Bitcoin and Ethereum, which dominate market sentiment and investor strategies.
In contrast to the downtrend in crypto funds, blockchain-specific equities saw increased investor interest. Investments into Bitcoin miner-specific products led to $11 million in inflows.
Moreover, Bitcoin miner revenue in August plummeted to a one-year low, totaling $827.56 million, a 57% drop from the March 2024 peak. This downturn coincides with reduced mining output and escalating operational challenges post-halving.
At press time, BTC price was $58,411.70, marking a 7-day decrease of 8.48%. The 24-hour trading volume surged by 79.92% to $28.77 billion. Despite the week’s sharp decline, the current market capitalization remains at $1.15 trillion, reflecting a slight increase of 0.72%.
In addition, ETH price was $2,519.46, also experiencing an 8.02% decline over the last seven days.
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.
Altcoin
SLERF Price Soars 55% Amid Binance’s Extended Support, Rally To Sustain?
Solana meme coin SLERF price has advanced 55% today, emerging as the talk of the crypto town on Thursday. Notably, the coin surfs bullish tides across the crypto landscape as the leading crypto exchange, Binance, unveiled a new listing for it. For context, traders also reacted positively to the listing announcement as the token’s intraday trading volume soared over 200%.
Binance Unveils SLERF Perpetual Contract Igniting Market Bullishness
In an official Binance announcement dated November 21, the crypto exchange revealed that it is launching SLERFUSDT (USD-Margined) perpetual contract today at 11:30 UTC. Intriguingly, the platform’s colossal user base remains poised to enjoy up to 75x leverage trading the asset. This has sparked a SLERF price rally recently, indicating the growing market confidence.
Further, the leading crypto exchange set the capped funding rate for the token at +2.00% / -2.00%. Also, the tick size for the crypto was 0.0001, per the announcement. Notably, the underlying asset remains the abovementioned Solana meme coin, SLERF.
On the other hand, Binance also revealed that it is launching Secret (SCRT) (USD-Margined) perpetual contract at the same date and time. This perpetual contract launch also boasts maximum leverage of 75x in an effort to magnetize investors. Overall, these enhanced offerings have set off optimistic waves for the tokens across the broader market, offering enhanced liquidity and investment opportunities to market participants.
SLERF Price Rallies
At the time of reporting, SLERF price witnessed gains worth 55% and is currently trading at $0.4373. Its intraday low and high were $0.2547 and $0.4266, respectively. The coin’s 24-hour trading volume surged 219% to $271.18 million. Notably, this rising movement falls in line with the abovementioned listing.
Further, investors anticipate more gains in the Solana meme coin’s price against the backdrop of another bullish on-chain metric. A recent CoinGape Media report revealed that SLERF whale accumulation soared remarkably, underscoring significant buying pressure for the asset.
Meanwhile, it’s also noteworthy that SCRT price witnessed gains worth 2% intraday in the wake of the listing and is trading at $0.3393. The coin’s 24-hour low and high were $0.302 and $0.3791, respectively.
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.
Altcoin
Vitalik Buterin, Coinbase’s Jesse Pollack Buy Super Anon (ANON) Tokens On Base
Ethereum co-founder Vitalik Buterin has purchased 30,303 ANON tokens, stirring excitement around the privacy-focused cryptocurrency. The transaction reflects a growing interest in decentralized anonymity, with Buterin’s involvement sparking speculations about ANON’s potential as a revolutionary token in the privacy space.
Joining Buterin, Coinbase executive Jesse Pollak has also acquired ANON tokens. This dual endorsement from prominent crypto figures has bolstered ANON’s debut, fueling curiosity about its role in shaping the future of private, self-sovereign transactions.
Vitalik Buterin and Jesse Pollak Support ANON
According to a November 21 post on X, Vitalik Buterin’s wallet (vitalik.eth) swapped 0.082 ETH for 30,303 ANON tokens on Base. This high-profile transaction has brought significant attention to ANON, a decentralized and privacy-focused cryptocurrency, ahead of its launch.
#PeckShieldAlert vitalik.eth (0xd8d) labeled address has swapped 0.082 $ETH for 30.3K Super Anon (ANON) on #Base pic.twitter.com/ESLwyLb4Wz
— PeckShieldAlert (@PeckShieldAlert) November 21, 2024
In addition, Coinbase executive Jesse Pollak mirrored this enthusiasm by spending 0.333 ETH to purchase 31,529 ANON tokens. The endorsement of ANON by influential industry leaders hints at its potential as the next major innovation in privacy tokens.
ANON, promoted as a self-sovereign and anonymous asset, aims to redefine privacy in cryptocurrency. These notable endorsements have positioned ANON to make a strong impact in the rapidly evolving blockchain ecosystem. Its launch has further amplified discussions on the future of privacy coins and decentralized privacy solutions.
Super Anon: A Revolutionary Step in Privacy?
Vitalik Buterin swapped 0.082 ETH for 30,303 Super Anon tokens to meet the minimum requirement for posting anonymously via Farcaster’s anoncast account. Earlier, the minimum was 30,000 tokens, but it has now been reduced to 15,000 ANON tokens, making it more accessible.
You need to have a minimum 15,000 $ANON tokens to post anonymously via anoncast account on Farcaster (earlier the min. amount was 30,000).
You can post on twitter too.
This is the reason why @VitalikButerin swapped 0.082 $ETH for 30.3K $ANON
good stuff pic.twitter.com/QHeGDlHUZW
— yash (@0x_yash21) November 21, 2024
Since Buterin’s purchase, Super Anon has surged by 550%. The token is currently trading at $0.0402, with a 24-hour low of $0.00887 and a high of $0.6367. This sharp price increase reflects rising interest in decentralized anonymity solutions, positioning ANON as a potential player in the privacy sector.
Buterin, a long-time advocate for Ethereum scalability, has also praised other blockchain projects like Starknet, which aims to enhance Ethereum’s scalability. His involvement in the Super Anon ecosystem further emphasizes his commitment to supporting innovative privacy solutions in the crypto world.
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.
Altcoin
3 Trending Crypto Coins Ready to Soar by 100%
Excitement fills the cryptocurrency market as Bitcoin price reaches a historic achievement, hitting a record peak of $97,000. Although the top cryptocurrency is getting most attention, other major altcoins have also seen small increases, indicating stable growth throughout the market. In the midst of all this action, three crypto coins—XRP, EGO, and Minotaurus (MTAUR)—are gaining notable interest for their ability to provide substantial profits. These tokens are strategically placed to take advantage of the market’s positive sentiment, driven by new advancements and investor trust.
Trending Crypto Coins Poised to Skyrocket 100%
1. XRP (XRP)
XRP has gained attention recently because its price surged to approximately $1.12. This marks an impressive 58% surge in the last week, making it one of the best-performing assets within the top 20 largest cryptocurrencies based on market value. Analysts have a positive outlook on its future, forecasting a possible XRP price increase to $1.96 if it continues to confirm its bullish chart formations. A combination of market trends, regulatory certainty, and investor outlooks have led to its increasing appeal.
Ripple’s legal battle with the U.S. SEC is nearing a positive resolution, boosting confidence in XRP. The digital asset’s increasing adoption in global payments highlights its strength among top altcoins, making it one to watch.
Furthermore, XRP Ledger’s XLS-66D upgrade, which enhances the blockchain’s capacity for tokenized assets, has added another layer of optimism. With these advancements, XRP appears well-positioned for a significant price breakout.
2. EGO (EGO)
Meanwhile, EGO has captured attention with a dramatic price surge of 172% over the past month, driving a trading volume of approximately $1.42 million. Trading at $0.02479, this token has become a hot topic in the market, supported by strong technical indicators and investor confidence.
The Fear & Greed Index for EGO currently reads 83, signaling extreme bullish sentiment. Predictions suggest EGO could see a staggering 236% growth by December 2024, potentially reaching $0.061296.
EGO’s growth is connected to its function in the Paysenger platform, which links Web2 and Web3 environments. By allowing content creators to earn money through EGO tokens, the platform has gained a larger user community of more than 50,000 people.
The growing popularity of these tokens has led to a favorable environment for their continuous expansion, making it one of the best cryptos to buy.
3. Minotaurus (MTAUR)
In the gaming industry, Minotaurus (MTAUR) is establishing a unique position with its token model focused on practicality and quickly growing presale. MTAUR is currently valued at 0.00006 USDT, approximately 70% reduction. This gives early adopters an opportunity to benefit significantly, as it is planned to be listed at 0.00020 USDT, indicating a potential 234% rise.
The project has already achieved a milestone of 200,000 USDT in its presale phase, sparking excitement among crypto enthusiasts.
Minotaurus includes its token in an immersive gaming environment, providing options such as customizing avatars and entering exclusive in-game areas. Its strong token economics, planned for lasting viability, incorporates referral and vesting incentives.
Security audits conducted by SolidProof and Coinsult help to further increase market confidence. The excitement about the project is heightened by a 100,000 USDT prize, where one fortunate person will receive 50,000 USDT in MTAUR tokens. This pauses as a promising opportunity for those looking to capitalize on an early-stage cryptocurrencies.
A Bright Future Ahead for These Crypto Coins
With Bitcoin setting the pace with its unprecedented success, crypto coins such as XRP, EGO, and Minotaurus are following suit, displaying great potential ahead. These tokens, supported by strategic progress and strong investor support, showcase the expanding diversity and potential in the cryptocurrency market. With the ongoing bullish trend, these three assets have the potential to provide high returns that could significantly impact one’s life, making them important in the changing cryptocurrency market.
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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