Market
Helium Eyes Energy Sector, and More
Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.
Here’s what happened recently in the DePin sector: World Mobile surpassed 100,000 daily users, A Swedish energy project called Srcful proposed becoming a Helium subnetwork, Crust has partnered with Xcavate to provide better decentralized storage solutions for real estate tokenization.
The World Mobile Network Surpasses 100,000 Unique Daily Users
World Mobile, the global blockchain-based wireless network, has hit a major milestone by surpassing 100,000 unique daily users. This achievement marks a 400% increase in unique daily users over the past year.
The network’s expansion across Africa, Asia, and the USA has played a crucial role in this growth. Notably, World Mobile has deployed 1,798 AirNodes globally, including five in the USA, 680 in Zanzibar, and 1,113 in Pakistan. This achievement positions World Mobile as the largest network by unique users in the wireless DePIN category.
“Over 100,000 daily customers across three continents, connecting to 1,846 AirNodes. One unifying mission, driving one visionary team, powered by one pioneering community,” the team wrote on X.
Read more: What Is World Mobile?
The network supports its participants through World Mobile Token (WMT). All transactions on the network, including calls, data usage, and wallet transactions, are paid out in WMT to node operators and token stakers. This system ensures that participants are rewarded and incentivized, nurturing an engaged and active user base.
Following the announcement of this milestone, World Mobile has shared an ambitious roadmap for the rest of 2024. Plans include further global AirNode deployments, additional AirNode sales, and a token migration to Base, Ethereum, and BNB Chain.
Helium Eyes Energy Sector
On July 1, the Helium Foundation hinted at new “subnetworks” in a blog post, suggesting they would go “beyond wireless.” People speculated these might involve proof-of-location or decentralized computing.
A few days ago, the mystery was solved. A Swedish energy project called Srcful proposed becoming a Helium subnetwork with its own ENERGY token.
A proposed firmware upgrade would let existing Helium IoT hotspots also support Srcful. This would expand the network’s usefulness and provide another way to earn tokens. The proposal also mentions special “gateways” that could act as hotspots, requiring vendors to stake 50 million ENERGY tokens to sell them.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
If the governance vote passes, Srcful plans to use Helium hotspots to run a virtual power plant (VPP). A VPP combines small energy sources, like household solar panels and batteries, to support the energy grid.
In Srcful’s plan, households would share power from their solar panels or batteries, earning ENERGY tokens in return. Helium hotspots would manage these panels and batteries, and hotspot operators would also get rewards.
Srcful would then sell the VPP’s energy to clients like energy companies or grid operators, aiming to generate revenue to sustain the project.
Crust Network to Deliver a New Storage for Real Estate Tokenization
Crust Network has partnered with Xcavate to provide better decentralized storage solutions for real estate tokenization. With Crust Network’s help, Xcavate can store property data securely and in a decentralized way.
This partnership offers:
- Secure Storage: Crust’s decentralized network keeps all real estate data safe, preventing single points of failure and improving data integrity.
- Trustless Environment: Crust’s storage capabilities combined with Xcavate’s tokenization protocol create a secure and trustworthy system for users.
- Scalability: Crust’s storage solutions can handle large amounts of property data efficiently, supporting Xcavate’s goal of making real estate accessible worldwide.
This collaboration is a big step toward Xcavate’s mission of democratizing real estate investments. By using Crust’s decentralized storage, Xcavate ensures property data is secure, unchangeable, and easily accessible, boosting trust and transparency in real estate tokenization.
Read more: How To Invest in Real-World Crypto Assets (RWA)?
Prophecy Market Insights predicts the global real estate tokenization market will grow at a compound annual growth rate (CAGR) of 2.90% from 2024 to 2034. They expect market revenue to increase from $3.8 billion in 2024 to $26 billion by 2034.
These developments indicate a promising future for DePIN, with more prominent players entering the sector and new solutions emerging. While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
GOAT Price Sees Slower Growth After Reaching $1B Market Cap
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken
Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.
However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.
XRP RSI Is Below The Overbought Zone
XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.
This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.
While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.
Ripple CMF Is Now Negative After Staying Positive For 14 Days
XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.
The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.
The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).
XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.
Ripple Price Prediction: Biggest Price Since 2021?
XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.
However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.
If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.
On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Trump Media Files Trademark for Crypto Platform TruthFi
Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing.
The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.
Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year.
However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social.
The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter).
Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees.
“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter).
As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week.
Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.
Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance.
Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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