Altcoin
Shiba Inu Lead Lauds TRON’s Justin Sun As SHIB Prepares TREAT Token Launch
Shiba Inu lead developer Shytoshi Kusama lauded TRON’s Justin Sun on Tuesday over the blockchain’s recent milestone achievement. The lead developer primarily highlighted TRX’s product-market fit (PMF) in stablecoin use cases, underscoring the network’s pioneering stance as a decentralized, fast, and affordable solution.
Notably, Kusama further stated that Shibarmy “will achieve the same (product-market fit) in a different manner,” with market watchers speculating as the broader industry eyes TREAT token launch shortly ahead.
Shiba Inu Lead Dev Praises TRON’s Justin Sun
In a reply to Justin Sun’s X post, Shytoshi Kusama stated on November 26, “You were a big inspiration for me early on, and I am proud to see you achieve PMF in this space.” This statement primarily points to TRON’s native token, TRX, achieving a strong product-market fit in stablecoin use cases.
Notably, the TRON blockchain processes 92% of USDT transactions and hosts $60B in USDT. However, TRX’s market cap is only $17B, per ‘Kate The Alt,’ the Alt account of CryptoQuant CEO Ki Young Ju. This data indicated that TRX-based USDT is far more adopted than even ETH-based USDT, offering low-cost, fast stablecoin remittances in global trade.
Speculations Of TREAT Token Launch
Pointing to this landmark achievement, Justin Sun glimmered with immense optimism. Shiba Inu’s lead developer Shytoshi Kusama further highlights this achievement, hinting that the SHIB ecosystem is also eyeing achieving the same PMF but in a different manner. This statement, hinting at a looming achievement for the dog-themed coin, has set off waves of discussions as Kusama recently hinted at TREAT token launch to further bolster the SHIB ecosystem.
In addition, amid rising optimism with the abovementioned developments, a substantial spike in layer-2 network Shibarium’s TVL has added to market enthusiasm surrounding the meme coin. Notably, the meme crypto’s marketing lead, LUCIE, recently revealed that TVL on Shibarium hit an ATH at $8.57 million. This data further cements the coin’s future with market optimism.
Will SHIB Price Gain Following Recent Developments?
Crypto watchers are extensively eyeing the dog-themed meme coin amid a highly bullish Q4. However, SHIB price traded at $0.00002529, down 1% intraday. Its 24-hour low and high were $0.00002436 and $0.0000264, respectively.
Nevertheless, the monthly chart for the crypto indicates gains of 48%. This broader bullish movement, accompanied by the abovementioned movements, has kept investors optimistic about future movements.
Moreover, a recent Shiba Inu price analysis by CoinGape indicated that the token already eyes further gains as its supply continues to shred due to constant token burning. Market watchers remain bullish as the Q4 ripple effect is yet bullish, followed by recent ecosystem developments.
Coingape Staff
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.
The world’s largest crypto exchange Binance on Tuesday announced the official launch of its reward-bearing asset BFUSD. The exchange clears that the crypto asset will provide users returns on qualifying balances in their futures account, with yield as high as 19.55%.
BFUSD is a reward-bearing asset by Binance, one of the top crypto exchanges, to provide users with returns on their qualifying balances in their futures account. It can also be used as a margin in the multi-asset mode while still earning rewards.
Binance Introduces High-Yield BFUSD Margin Asset
Binance Futures in an official announcement on November 26 revealed BFUSD reward-bearing asset’s launch. Users can start purchasing the margin asset at 2AM UTC on November 27.
The crypto exchange has set limit quota of the margin asset, which is based on a user’s VIP level. In order to participate, transfer USDT to UM wallet. Holders who traded UM futures one day prior will only get boosted APY. Interest payments will be distributed daily to users’ UM Futures accounts.
The supply is 120 million, with a collateralized percentage of 101.32%. It will offer base APY of 29.18%, with a boosted APY of 38.98%, as per Binance data.
Benefits and Risks of Holding the Asset
BFUSD is redeemable for USD stablecoin. It means users can redeem it for the US dollar, making it an ideal choice for seeking a stable solution in the crypto market.
Moreover, the exchange has also set BFUSD Reserve Fund specifically to cover potential costs from funding dees, supporting the maintenance of the Collateral Pool and the Hedging Portfolio.
One of the major benefit is its use as margin to trade USD-M contracts in multi-asset mode. There are two reward rates available each day – base rate and boosted rate. The exchange will use proceeds from BFUSD sales to execute investment strategies that generate passive income.
Some risks of holding the margin asset include negative funding rates and no right, claim, entitlement or other interest from collateral pool, hedging portfolio or reserve fund. Also, users are also exposed to Binance credit risk, redemption failure, and viable fees.
Binance earlier cleared to CoinGape that BFUSD is not a stablecoin. The exchange has also announced a promotion for early adopters. These include zero fees at purchase and 100,000 USDT in token vouchers.
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.
Following the recent bullish rally, cryptocurrency prices today are facing selling pressure, with market sentiment shifting towards cautiousness. Bitcoin (BTC) has dropped to the $93K level today. Altcoins show a mixed trend, with Ethereum (ETH) and XRP gaining 3% to 4%, while Solana (SOL) is down by 5%. Lido DAO (LDO) and Arbitrum (ARB) have emerged as the top gainers, with increases of 15% and 10% in the past 24 hours.
Meanwhile, the global crypto market cap has dropped by 2%, currently at $3.27 trillion. However, the overall trading volume has surged by 22%, reaching $241 billion. Let’s dive into the top cryptocurrencies by market cap and their price movements today, November 26.
Cryptocurrency Prices Today: BTC and SOL Drop, ETH and XRP See Gains
BTC price slipped to the $93K level today, while ETH and XRP rose by 3% to 5% in the past 24 hours. SOL declined by 5%, whereas LDO and ARB emerged as the day’s top gainers.
Bitcoin Price Today
BTC is currently trading at $94,666, marking a 3% decline in the last 24 hours. Its 24-hour low and high are $92,642 and $98,935, respectively. The market cap of Bitcoin stands at $1.87 trillion, with a trading volume of $84 billion in the same period. Its market dominance is 57.27%.
Additionally, Monday saw an outflow of $684 million from BTC ETFs. Data from BlackRock IBIT, Invesco, and VanEck is still awaited. Notably, Rumble, a video-sharing and cloud services platform, has announced plans to allocate up to $20 million from its corporate treasury to Bitcoin, reflecting growing corporate interest in the cryptocurrency.
Ethereum Price Today
Ethereum (ETH) is currently trading at $3,432, reflecting a 3% increase in the last 24 hours. Its 24-hour low and high are $3,349 and $3,545, respectively. Ethereum’s market cap stands at $414 billion, with a trading volume of $52 billion. With a market dominance of 12.7%, ETH remains the second-largest cryptocurrency by market cap.
According to sosovalue, ETH ETFs recorded an inflow of 283K. Data from BlackRock, VanEck, and Invesco is still pending, which could further influence Ethereum’s market dynamics.
Solana Price Today
Solana (SOL) is currently trading at $237, reflecting a 5% decrease in the last 24 hours. Its 24-hour low and high are $231 and $256, respectively. Solana’s market cap stands at $112 billion, with a 24-hour trading volume of $6.71 billion. With a market dominance of 3.47%, SOL ranks as the fourth-largest cryptocurrency by market cap.
Additionally, Solana’s memecoin launchpad Pump Fun has indefinitely suspended its live streaming feature. This decision follows backlash over the misuse of the live stream service, prompting the protocol to sunset this offering.
XRP Price Today
XRP is currently trading at $1.144, marking a 5% increase in the last 24 hours. Its 24-hour low and high are $1.385 and $1.53, respectively. With a market cap of $82 billion and a 24-hour trading volume of $11.4 billion, XRP has a market dominance of 2.54%, ranking as the sixth-largest cryptocurrency by market cap.
Moreover, the momentum for crypto ETFs continues to grow. Just yesterday, WisdomTree filed for an XRP ETF in Delaware, signaling increased institutional interest in cryptocurrency.
Meme Cryptocurrency Prices Today
The meme coin sector has experienced a downward trend over the past 24 hours. Dogecoin (DOGE) is down by 5%, currently trading at $0.40, while Shiba Inu (SHIB) has dropped 2%, trading at $0.00002504.
Additionally, other notable meme coins like PEPE, BONK, and FLOKI have dropped by 4% to 6%. This decline highlights the overall bearish momentum affecting the meme coin market.
Top Cryptocurrency Gainers Prices Today
Lido Dao
LDO price surged by 15% today, currently trading at $1.60. Its 24-hour low and high are $1.478 and $1.764, reflecting strong price movement.
Arbitrum
ARB price is trading at $0.89, showing a 10% increase in the last 24 hours. Its 24-hour low and high are $0.84 and $0.95, indicating notable price movement.
Top Cryptocurrency Losers Prices Today
The Sandbox
SAND price has dropped by 16% in the last 24 hours, currently trading at $0.66. Its 24-hour low and high are $0.65 and $0.82, reflecting significant volatility.
Decentraland
MANA price is currently trading at $0.62, showing a 15% decrease in the last 24 hours. Its 24-hour low and high are $0.61 and $0.73, indicating notable fluctuations.
Besides, the hourly time frame charts continued stirring investor speculations on cryptocurrency prices today, illustrating mixed actions. Crypto market enthusiasts continue to eye the market for further price action shifts.
Coingape Staff
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.
Crypto analyst Master Kenobi has provided a bullish update for the Dogecoin price, predicting that the foremost meme coin can reach as high as $2.8. In his update, the analyst also explained why Dogecoin’s outlook is still bullish.
Dogecoin Price To $2.8 And Why It Can Happen
In his DOGE update, Master Kenobi shared an accompanying chart that showed that the Dogecoin price could rally to $2.8 in this market cycle. The analyst further explained why Dogecoin’s outlook looks this bullish. First, he alluded to the “zoom-out” perspective, which remains bullish, although the time frame might shift slightly to align more closely with a potential decline in Bitcoin dominance.
While analyzing the chart, Master Kenobi said that the Dogecoin price may currently be equivalent to January 4th, 2021, in the 2021 bull run. If that is the case, the analyst stated there might be a period of volatility. He revealed something similar happened during the last cycle when the price dropped by 55% over two red weeks.
Master Kenobi again touched on the 91-day sequence, which he reaffirmed remains valid. He added this sequence will conclude on December 9th. If that doesn’t happen, the analyst stated that the window for the sequence to end will be between December 9th and December 23rd, 2024.
Based on the trend from the previous cycle, Master Kenobi predicts that the Dogecoin price could reach this $2.8 target between December 9th and December 23rd. However, he remarked that he was still staying grounded as he couldn’t imagine what fundamentals could trigger such a massive move.
Meanwhile, the analyst stated that the conservative plan suggests that a range of $1 to $1.45, double the Dogecoin price’s current all-time high (ATH), is more plausible for this timeframe.
Why DOGE Is The Major Focus
Master Kenobi is known for focusing on the Dogecoin price in his analysis, and in his recent one, he explained why Dogecoin continues to remain the major focus. According to him, he prefers to study DOGE because it provides the most data for analysis. He added that the foremost meme coin also serves as a representative for altcoins to a greater or lesser degree.
The analyst also mentioned that he could analyze utility coins, which are not meme coins, but he completely disregards their technological advancements. Master Kenobi remarked that he considers these technological advancements “fugazi” and a distraction from what truly matters.
To conclude the Dogecoin price update, Master Kenobi stated that if Dogecoin closes this week in green, it will be the second-longest streak in DOGE’s history, with six consecutive green weeks. The longest streak was eight weeks, between November 2017 and January 2018.
At the time of writing, the Dogecoin price is trading at around $0.42, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Binance Announces Official Launch of BFUSD
Can Cardano Bulls Push ADA Price to $2?
Programmable BTC Now a Reality
XRP Price Eyes Fresh Upside: Can Bulls Deliver?
Rumble’s Bitcoin Treasury: A $20 Million Allocation
Shiba Inu Lead Lauds TRON’s Justin Sun As SHIB Prepares TREAT Token Launch
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin21 hours agoWhy Is Ethereum Up Today? Will It Hit $10,000?
-
Market21 hours agoCan the SAND Token Price Touch $1?
-
Altcoin22 hours agoFutures OI Tops $2.50B As Ripple Whales Buy Over 250M Coins
-
Altcoin20 hours agoDogecoin Price To $1.2 In 10-15 Days? What The Bull Pennant Says
-
Market23 hours agoWhy Are Shiba Inu Holders Selling Their Coins?
-
Ethereum22 hours agoEthereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance
-
Market20 hours agoToday’s Trending Altcoins — November 25: GIGA, LKY, MAD
-
Market24 hours agoWill the MANA Crypto Price Rally End After a 70% Weekly Surge?
✓ Share: