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Ethereum Foundation Invests Millions Into zkVM, What’s Happening?

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The Ethereum Foundation once again caused a stir across the broader market on Friday, revealing that it is investing tens of millions into zkVMs (zero knowledge virtual machines). Justin Drake, a renowned researcher at the organization, revealed this investment strategy. Notably, this investment plan outlined three vital entities that remain poised to leverage the opportunity, per the researcher’s announcement.

Ethereum Foundation Putting Millions Into zkVMs

As per an X post by Justin Drake as of November 29, “The EF is investing tens of millions into zkVMs.” Further, the announcement revealed three key entities that remain poised to leverage this massive investment.

According to Drake, zkevm.org, a zkRISC-V formal verification platform, remains primed to receive support from the Ethereum Foundation’s investment. Simultaneously, Poseidon cryptanalysis and ethproofs.org, other zkVMs, are also poised to leverage this investment.

The Ethereum Foundation’s investments offer support to various components of zkVMs, spanning from formal verification to cryptographic analysis. Overall, the investment talks garnered significant attention as they further underscore ongoing efforts that aim to streamline the Ethereum ecosystem.

What’s Next For ETH Price?

On the other hand, Ethereum co-founder Jeffrey Wilcke’s trades ignited concerns across the broader market. Notably, the co-founder deposited 20,000 ETH to Kraken on November 28, raising severe concerns surrounding the crypto’s price movement ahead.

Intriguingly, Wilcke has been recorded offloading 44,300 tokens at an average price of $3,342 in 2024, solidifying market concerns for one of the leading crypto by market cap.

Against the backdrop of Ethereum Foundation investments and other developments, ETH price slipped more than 1% intraday and is trading at $3,552. Its 24-hour low and high were $3,531.87 and $3,642.19, respectively. Notably, the recent waning movement falls in line with selloff by whales. Notably, the weekly chart for the crypto shows a 5% pump, followed by a monthly upswing of 33%.

Intriguingly, a recent ETH price analysis by CoinGape Media further indicated that the crypto eyes a $4000 target amid this bull cycle. This bullish projection also comes riding the back of strong market potential and ecosystem upgrades.

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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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Whale Moves 1.1 Billion DOGE, Is Rally To $1 Starting?

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November 29, 2024

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Dogecoin News: A Dogecoin whale transaction has caught the attention of the crypto community, fueling speculation about a potential price rally. Over 1.1 billion DOGE, worth more than $445 million, were transferred across three transactions involving unknown wallets. Such large-scale movements often hint at accumulation by major investors, signaling bullish sentiment.

This development has reignited discussions about Dogecoin’s trajectory, with many questioning whether the token is positioning itself for a significant breakout. Speculation is growing that DOGE could soon edge closer to the long-anticipated $1 milestone.

Dogecoin News: Whale Transfers 1.1 Billion DOGE Tokens

A notable shift in Dogecoin’s market activity has occurred as a whale moved a staggering 1.1 billion DOGE tokens across three transactions, drawing significant attention from the crypto community. According to Whale Alert, the largest of these transfers involved a massive 500 million DOGE, valued at over $202 million.

Additionally, two smaller transfers of 300 million DOGE each, worth about $121 million, were also carried out. Such large-scale transfers by a single entity typically signal major movements within the market, often linked to accumulation by whales or institutional players.

This whale activity indicates that major investors might be positioning themselves for potential future gains. The scale of the transfers highlights significant interest in top meme coins, likely driven by expectations of an upward price movement. With these transfers, whales could be seeking to secure their positions before any anticipated bullish trends, which could drive demand in the market.

On-chain data from Blockchair data reveals the wallet currently holds 600 million DOGE, making it one of the top 20 largest Dogecoin holders. This accumulation trend, alongside recent high-value transfers, points to continued bullish sentiment within the Dogecoin ecosystem. The growing number of high-value transfers into personal wallets could be an indicator of a potential price surge, with whales strengthening their positions in anticipation of future market movements.

DOGE Price Trends and $1 Speculation

DOGE price is currently trading at $0.412, reflecting a 4% daily increase, 7% weekly growth, and a staggering 143% monthly surge. Its 24-hour trading volume stands at $4 billion, with a low of $0.3922 and a high of $0.4144. With a market cap of $61 billion, Dogecoin remains the seventh-largest cryptocurrency by market value.

Despite a 41% drop in derivative volume and a 58% decline in options volume reported by Coinglass, market sentiment remains strong. Some analysts believe DOGE could hit $1 in the near term, driven by sustained demand and market momentum. Notably, a popular crypto analyst has gone further, predicting DOGE price rise to $4.20 in the ongoing bull cycle, citing DOGE’s historic 500% rally since August.

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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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Major Shiba Inu Whale Amplifies Holdings, SHIB To $0.000037 Ahead?

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1 hour ago

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November 29, 2024

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A major Shiba Inu whale has once again sparked noteworthy market intrigue as it was recorded heavily bagging the meme token on Friday. Notably, on-chain data showed that the trader significantly increased his holdings to $21.72 million worth of SHIB after one month of inactivity. In turn, market watchers anticipate further gains in SHIB price, primarily in light of the massive accumulation and a bullish Q4 for the crypto market.

Shiba Inu Whale Bags Heavily Indicating More Gains Imminent

As per on-chain data from Arkham Intelligence dated, November 29, a super Shiba Inu whale sacked 98.196 billion SHIB, worth $2.54 million, from the crypto exchange Coinone. Notably, per the data, the super whale address 0x9d9f.. was recorded as making huge transactions.

Meanwhile, the data also pointed out that this massive accumulation came following one month of inactivity by the address. It’s noteworthy that this holder has accumulated a whopping 83.63 million Shiba Inu tokens to date from the same crypto exchange since June of this year. The average price for the trader’s accumulation stands at $0.00001842.

Simultaneously, the latest on-chain data indicated that the trader held nearly $22 million worth of the dog-themed meme token. Overall, the massive accumulation has ignited a market frenzy, with investors anticipating further gains in the token’s price amid increased buying and market interest for the asset.

Will SHIB Price Hit $0.000037?

At the time of reporting, Shiba Inu price gained nearly 2% intraday and is trading at $0.00002595. The coin’s 24-hour low and high were $0.00002494 and $0.00002609, respectively. Notably, the weekly and monthly charts for the crypto indicated gains worth 5% and 39%, respectively. Overall, the meme coin surfs bullish tides mirroring market optimism, as seen by the abovementioned colossal buying.

It’s also worth mentioning that the crypto’s token burn mechanism appears to have bolstered the price movements. CoinGape Media reported that the SHIB burn rate soared phenomenally recently, adding to optimism about future movements.

Further, a Shiba Inu analysis by CoinGape Media has highlighted a $0.000037 price target for the token. This positive outlook primarily comes against the backdrop given BTC price hits $100,000 in this bull cycle. Besides, broader market sentiments remain bullish over future prices, with the bullish factors further indicating that a potential rally to $0.000037 for the coin may be imminent.

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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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Ripple Vs SEC Ex-CFTC, Pro-XRP Lawyers Say SEC Will Drop the Appeal

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2 hours ago

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November 29, 2024

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Ripple vs SEC: The US Securities and Exchange Commission (SEC) is likely to drop the appeal in the Ripple lawsuit. Former CFTC Chairman Chris Giancarlo and pro-XRP lawyers believe it’s “very plausible” that new SEC chair under the Trump administration will drop SEC v Ripple Labs lawsuit. It will also prove to be game changing for XRP.

Ripple vs SEC Lawsuit Nears Conclusion

FOX Business Charles Gasparino in an X post said he believes Donald Trump’s election as US President is proving game-changing for XRP. The post garnered massive buzz in the XRP Army, triggering bullish sentiment on Thanksgiving day.

In addition, Gasparino revealed that former CFTC Chairman Chris Giancarlo told him that the “new SEC will drop the appeal” against Ripple. The government agency has appealed the decisions on XRP sales by Ripple as well as executives Brad Garlinghouse and Chris Larsen as not securities. Meanwhile, the company has filed cross appeal whether investment contacts must have ‘essential rights and obligations.’

Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan claimed that the appeals will likely get dismissed or withdrawn. Morgan in a post on November 29 added that the appeal would be dropped as Judge Torres made no error.

“The political motive for continuing a near hopeless appeal will largely disappear when its main internal SEC enabler Gary Gensler resigns on 20 January 25,” said Bill Morgan.

XRP Price Eyes Hitting $2 Soon

XRP army looks at least the $2 price rally amid SEC Chair Gary Gensler’s exit and Trump’s crypto policies. The Trump-Vance transition team has nominated pro-crypto leaders to lead government agencies. Paul Atkins is leading the race to become the next SEC chairman. Ripple CLO Stuart Alderoty is bullish on the move.

The price of XRP has rallied 200% amid the Trump trade. The price has hit $1.64 today, a new 3-year high. Trading volume is rising again as lawsuits are reaching near end.

As CoinGape reported first, US district court ruled in favor of Ripple and CEO Brad Garlinghouse in XRP lawsuit. The judge has now granted a motion to expedite judgment in the In re Ripple Labs Inc Litigation.

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Varinder Singh

Varinder has over 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 leading the news team to cover 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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