THORChain

As the year draws to a close, cryptocurrency enthusiasts are eagerly anticipating a potential boom in the market, especially for the top 5 cryptos we have examined below, with December poised to be a pivotal month for digital assets. Among the myriad of cryptocurrencies, five stand out as prime candidates for a major price explosion. Cardano (ADA), Celestia (TIA), THORchain (RUNE), Terra Classic (LUNC), and the perennial giant Bitcoin (BTC) have captured the attention of investors and analysts alike. With unique features, strong fundamentals, and a buzz of anticipation surrounding them, these top-tier cryptos are positioned to make significant moves in the coming weeks, potentially reshaping the landscape of the crypto market. Related Reading: Ethereum ATH: Exploring The Possibility Of Ether’s New Peaks In 2024 Top 5 Cryptos Set To Rally This December Bitcoin (BTC) Bitcoin is moving rapidly in the direction of the $40,000 mark. The potential approval of a Bitcoin ETF by the Securities and Exchange Commission is one of the many variables driving the price of bitcoin. In the 24 hours leading up to early Friday morning, the price of bitcoin increased 3.2%, reaching approximately $38,856, according to statistics provided by price tracker Coingecko. Coincodex has a more bullish prediction for Bitcoin, seeing the crypto hitting $58K in the coming month. Source: Coincodex Analysts such as CryptosRUs anticipate that Bitcoin will soon reach $40,000 and even more, pointing to the impending halving event and possible approvals for ETFs as major catalysts. Cardano (ADA) As November came to an end, Cardano (ADA) saw a 30% increase in price, marking its second consecutive month-over-month gain. Around the present rates, bullish traders have actively placed orders to buy an additional 41.7 million units of the coin, greatly outnumbering sell orders. According to cryptocurrency expert Crypto, ADA can surpass the $0.90 threshold in less than six months. The primary cause is the explosive growth of decentralized banking apps on Cardano, with a $250 million increase in total locked value over the previous year from $50 million. #Cardano sits at a key demand zone between $0.37 and $0.38. Here, 166,470 wallets acquired 4.88 billion $ADA. With minimal resistance ahead and solid support below, remaining above this zone could pave the way for $ADA to climb to new yearly highs. Still, watch out, as losing… pic.twitter.com/GDjhspFSVr — Ali (@ali_charts) November 27, 2023 Analyst Ali Martinez projected in November 2023 that ADA would reach annual highs, which would be advantageous for the coin’s prospects in 2024. Celestia (TIA) Because Celestia (TIA) is the industry’s first modular blockchain network and has huge future potential, market experts believe it will be a worthwhile investment in 2023. The price behavior of Celestia (TIA) shows a bullish pattern, with local support at $6.20 and resistance at $7.27. Following the breakdown of the resistance, experts predict a possible rally toward $8. Bulls claim that TIA may rise as high as $9.70 by the end of 2023, despite the fact that the Celestia mainnet went live on October 31. As of today, the market cap of cryptocurrencies stood at $1.4 trillion. Chart:  TradingView.com Crypto Year-End Rally THORChain (RUNE) The value of THORChain (RUNE) increased from $3.76 last week to $6.35 by the end of November, a 70% increase driven by the rise of THORChain as the second-largest decentralized exchange. Overall, the coin’s mood is still positive. Forecasts for the end of 2023 indicate that there may be a peak at $10.2, with crucial support levels between $3.4 and $4 being essential to maintaining this development trajectory. The price of THORChain (RUNE), a decentralized liquidity protocol token, is continuing to rise, exhibiting a bullish bias in its trade. Related Reading: Shiba Inu Ripple: Massive $300 Billion Transfer Sends Crypto Community Into Speculation Source: Santiment Terra Classic (LUNC) Completing our list of the top 5 cryptos for the weekend is the Terra Classic (LUNC). The past month has seen tremendous price action for LUNC; in just one day, the token has increased by over 22%, and over the course of the previous month, it has increased by almost 130%. Following a significant price increase, traders are talking favorably about LUNC. After its recent collapse, sentiment analysts predict that the tokens will see a resurgence in value. The cryptocurrency will most likely reach $0.001 by 2024 if the bullish trend for LUNC continues and additional ecosystem growth takes place, even though short-term price behavior is unpredictable. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock

Top 5 Cryptos Set For A Price Explosion This December – ADA, TIA, RUNE, LUNC, BTC

With another month at a close in the cryptocurrency landscape, November resembled an eventful drama, showcasing remarkable triumphs, significant setbacks, and unexpected turns.

November Crypto Recap: Coinbase Shines, Solana Surges, THORChain Emerges

Cryptocurrency THORChain’s native token, RUNE, has seen a strong 15% price climb today as it continues an upward move out of a period of consolidation. RUNE now trades at $6.15, filling up a triangular chart pattern that, if broken out above, could lead to further bullish momentum. Keypoints THORChain (RUNE) price is up 15% currently, [...]
The post What’s Behind Thorchain’s RUNE Price Pump Today? Edge Wallet Hype appeared first on Blockonomi.

What’s Behind Thorchain’s RUNE Price Pump Today? Edge Wallet Hype

As the market bounces back, investors have been turning to altcoins like THORChain (RUNE), Gala (GALA), and Rebel Satoshi (RBLZ)

Reasons investors are exploring THORChain, Rebel Satoshi, and GALA

The post THORChain Price Prediction 2023, 2024, 2025: Will RUNE Skyrocket To $7? appeared first on Coinpedia Fintech News
Story Highlights The live price of the Rune token is . The RUNE price may reach a high of $6.82 by the end of 2023. With a potential surge, the price of THORChain may reach a high of $29.22 by the end of 2030. The year 2021 was a milestone year for several altcoins. Many …

THORChain Price Prediction 2023, 2024, 2025: Will RUNE Skyrocket To $7?

What is THORChain? Join David as we explore the liquidity protocol that allows swapping between BTC, ETH, and more without intermediaries.

Chad Barraford is a core developer at THORChain, and Erik Voorhees is a Bankless staple who has found a deep resonance with THORChain's mission.

Is THORChain helping build the Bankless future? Come find out.

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TIMESTAMPS

0:00 Intro
3:30 What is Thorchain
7:10 Erik and Shapeshift
10:20 How it Works
13:40 Is this a Bridge?
17:00 Staking and Security
20:00 Rune
28:45 Bitcoin and Ethereum
32:20 Latency
36:00 The Bull Case for Thorchain
38:40 Specialization
40:40 The Roadmap and Community
44:00 Get Involved

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RESOURCES

Erik Voorhees:
https://x.com/ErikVoorhees?s=20

Chad Barraford
https://x.com/CBarraford?s=20

THORChain Website
https://thorchain.org/

THORChain Twitter
https://twitter.com/thorchain

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Not financial or tax advice. See our investment disclosures here:
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Is THORChain (RUNE) Undervalued? with Erik Voorhees and Chad Barraford


                    
                    BlackRock meets with SEC over Bitcoin ETF, Binance’s new era begins after settlement in the United States and Sam Bankman-Fried loses release bid.
                    Top Stories This WeekUS officials announce $4.3B settlement with Binance, plea deal with CZBinance and its co-founder, Changpeng CZ Zhao, have reached a settlement over criminal and civil cases with the United States Department of Justice. CZ will plead guilty to one felony charge as part of the negotiated agreement. Attorney General Merrick Garland announced the settlement, claiming Binances policies allowed criminals involved in illicit activities to move stolen funds through the exchange. As part of the settlement, CZ announced on X (formerly Twitter) that he had stepped down as CEO and that Binances global head of regional markets, Richard Teng, will assume the position. He added he was proud to point out that U.S. officials didnt allege that Binance misappropriated funds or manipulated markets. CZ was released on bail and is battling government efforts to bar his return to the United Arab Emirates to be with his family. His sentencing is scheduled for February.BlackRock met with SEC officials to discuss spot Bitcoin ETFRepresentatives from BlackRock and Nasdaq met with the U.S. Securities and Exchange Commission (SEC) to discuss the proposed rule allowing the listing of a spot Bitcoin exchange-traded fund (ETF). BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. Many reports have suggested the SEC could be nearing a decision on a spot BTC ETF for listing on U.S. markets. SEC officials also met with Grayscale representatives this week to discuss the listing of a Bitcoin ETF. BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise.Bitcoin user pays $3.1M transaction fee for 139 BTC transferA Bitcoin user paid $3.1 million in fees for transferring 139.42 BTC. The transaction fee is the eighth-highest in Bitcoins 14-year history. A wallet address tried transferring 139.42 BTC only to pay more than half the actual value of the transaction fee. The destination address received only 55.77 BTC. The mining pool Antpool captured the absurdly high mining fee on block 818087. This is the largest Bitcoin transaction fee ever paid in dollar terms, knocking off Paxos’s September transfer of $500,000.SEC sues Kraken alleging its an unregistered exchange, mixes user fundsThe U.S. Securities and Exchange Commission has sued Kraken, alleging it commingled customer funds and failed to register with the regulator as a securities exchange, broker, dealer and clearing agency. Additionally, the SEC alleged Krakens business practices and deficient internal controls saw the exchange commingle up to $33 billion worth of customer assets with its own. The SEC said this resulted in a significant risk of loss for its clients. In a follow-up blog post, Kraken said the SECs commingling accusations were no more than Kraken spending fees it has already earned, and the regulator doesnt allege any user funds are missing.Appeals court rejects Sam Bankman-Frieds bid for releaseSam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. Government prosecutors accused Bankman-Fried of leaking Caroline Ellisons journals to The New York Times in July, which caused his bail to be revoked by a New York District Court. Bankman-Fried was found guilty of seven fraud and money laundering-related charges on Nov. 2. The former FTX CEO will remain behind bars while he awaits his sentencing on March 28 next year.Winners and LosersAt the end of the week, Bitcoin (BTC) is at $37,710, Ether (ETH) is at $2,079, and XRP is at $0.62. The total market cap is at $1.43 trillion, according to CoinMarketCap.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Blur (BLUR) at 99.25%, FTX Token (FTT) at 39.05% and KuCoin Token (KCS) at 24.82%. The top three altcoin losers of the week are Celestia (TIA) at -19.89%, ORDI (ORDI) at -17.63% and THORChain (RUNE) at -15.53%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.      Read also                                                                              Features                            Wild, Wild East: Why the ICO Boom in China Refuses to Die                                                                                                                    Features                            Crypto kids fight Facebook for the soul of the Metaverse                                            Most Memorable QuotationsThe U.S. has a financial regime that basically has been weaponized.Charles Hoskinson, founder of CardanoI made mistakes, and I must take responsibility.Changpeng CZ Zhao, former CEO of BinanceWe, the employees of OpenAI, have developed the best models and pushed the field to new frontiers, [but] the process through which you terminated Sam Altman […] has jeopardized all of this work and undermined our mission and company.OpenAI employeesGet your crypto company out of the U.S. warzone.Jesse Powell, co-founder of KrakenThe regulatory uncertainty that permeates the U.S. market is having an impact on the rest of the world.Oliver Linch, CEO of Bittrex GlobalIm looking forward to returning to OpenAI and building on our strong partnership with Microsoft.Sam Altman, CEO of OpenAIPrediction of the weekEnjoy sub-$40K Bitcoin  PlanB stresses $100K average BTC price from 2024Bitcoin buyers should enjoy the chance to add to their stack below $40,000, according to PlanB, pseudonymous creator of the stock-to-flow family of BTC price models. He believes Bitcoin will rise much higher than its recent 18-month highs.Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin once the spot crosses the two-year and five-month realized price levels. BTC/USD is now once again above all three realized price iterations.Enjoy sub-$40k bitcoin … while it lasts, PlanB commented on an accompanying chart.Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028  Bitcoins next halving cycle.FUD of the WeekHTX to restore services within 24 hours after $30M hackCrypto exchange HTX, formerly known as Huobi Global, resumed deposits and withdrawals within 24 hours after suffering a $30 million exploit on Nov. 22. The exploit was reported to be $13.6 million around the time of the incident, but has since increased in value. HTX’s hot wallets were compromised alongside a coordinated $86.6 million attack against the HTX Eco (HECO) Chain bridge, consisting of HTX, Tron and BitTorrent. The company has promised to fully compensate users for any losses incurred as a consequence of the hack.CZ an unacceptable risk of flight, should stay in US: DOJUnited States prosecutors are trying to stop former Binance boss Changpeng CZ Zhao from leaving the country, expressing concern about his potential flight risk. The government requested a review and overturn of a judges decision that would allow Zhao to return to his home in the United Arab Emirates (UAE) on a $175 million bond under the condition that he returns to the U.S. two weeks before his February 2024 sentencing. In a proposed order, prosecutors wrote that Zhao presents an unacceptable risk of flight, arguing that his ties and favored status in the UAE, along with the countrys lack of an extradition treaty with the U.S., are reasons to block him from leaving the country.KyberSwap hacker offers $4.6M bounty for return of $46M lootThe decentralized exchange KyberSwap has offered a 10% bounty reward to the hacker who stole $46 million on Nov. 22 and left a note of negotiation. The exchange wants 90% of the loot returned. The hacker made away with roughly $20 million in Wrapped Ether, $7 million in wrapped Lido-staked Ether and $4 million in Arbitrum tokens. The hacker then siphoned the loot across multiple chains, including Arbitrum, Optimism, Ethereum, Polygon and Base.      Read also                                                                              Features                            Blockchain Startups Think Justice Can Be Decentralized, but the Jury Is Still Out                                                                                                                    Features                            Decentralized identity: Proving its really you in the 21st Century                                            Top Magazine Pieces of the WeekThis is your brain on crypto: Substance abuse grows among crypto tradersAccording to some addiction experts, the high-stress atmosphere of cryptocurrency trading can provide a perfect environment for substance abuse.Michael Saylors a fan, but Frisby says bull run needs a new guru: X Hall of FlameBitcoin enthusiast Dominic Frisby has a wild journey, from penning one of the first-ever Bitcoin books to plastering Bitcoin fixes this on the Bank of England.6 Questions for Alex O’Donnell about financial journalism and the future of DeFiAlex ODonnell spoke to Cointelegraph Magazine about his career as a financial journalist  and how it led to his involvement in crypto and Umami DAO.    Subscribe    The most engaging reads in blockchain. Delivered once a        week.         Email addressSUBSCRIBE    

BlackRock meets with SEC over ETF, Binance’s new era begins and SBF loses release bid: Hodler’s Digest, Nov. 19-25

Over the past 24 hours, the price of THORChain has fallen 4.1% to $5.69. This continues its negative trend over the past week where it has experienced a 11.0% loss, […]
The post THORChain Price Plunge More Than 4% In 24 hours appeared first on BitcoinWorld.

THORChain Price Plunge More Than 4% In 24 hours

The renowned cryptocurrency trader and analyst Rekt Capital revealed in a YouTube video that several altcoins seem to be breaking out of a long-term “macro bearish” trend. In the analysis, he predicted that altcoins like Polkadot (DOT), Avalanche (AVAX), Stellar (XLM), Solana (SOL), as well as THORChain (RUNE), and Polygon (MATIC) may transition into new […]
The post These 6 Altcoins Flip to Macro Bullish and May Soar Soon: Analyst appeared first on Coin Edition.

These 6 Altcoins Flip to Macro Bullish and May Soar Soon: Analyst

While the crypto market struggled in August and September, Toncoin and THORChain rallied. However, these cryptos have lost momentum,

Toncoin and THORChain Rally Stalls, Everlodge Prepares for 20x Price Surge

Top altcoins like THORChain (RUNE) have made moonshots in Q4. As a result, novice investors who missed the THORChain rally are seeking alternative investments

Didn't Catch the THORChain Rise in 2023? Consider Investing in Rebel Satoshi and PancakeSwap

In the previous 24 hours, the THORChain (RUNE) market has been dominated by bears, with prices witnessing a significant downward trend. As selling pressure remains stronger than buying demand, bullish efforts to recoup have been met with substantial resistance. RUNE’s downward trend remained in control, with prices trading hands at $5.44 at press time, a […]
The post THORChain (RUNE) Shows Signs of Recovery Amid Bearish Trend appeared first on Coin Edition.

THORChain (RUNE) Shows Signs of Recovery Amid Bearish Trend


                    
                    The decentralized exchange increased margin requirements on several markets on Nov. 18, after an alleged targeted attack on the YFI token triggered massive liquidations. 
                    Decentralized crypto exchange dYdX has disclosed new measures to mitigate trading-related risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses.According to an announcement on X (formerly Twitter), the exchange increased margin requirements on several “less liquid markets,” affecting tokens such as Eos (EOS), 0x Protocol (ZRX), Aave (AAVE), Algorand (ALGO), Internet Computer (ICP), Monero (XRM), Tezos (XTZ), Zcash (ZEC), SushiSwap (SUSHI), THORChain (RUNE), Synthetix (SNX), Enjin (ENJ), 1inch Network (1INCH), Celo (CELO), Yearn.finance (YFI), and Uma (UMA).dYdX triggered its insurance fund to cover users’ trading losses on Nov. 17 after a profitable trade targeting long positions on the YFI token caused the liquidation of positions worth nearly $38 million. dYdX founder Antonio Juliano dubbed the move a "targeted attack" on the exchange. According to him, YFI's open interest in dYdX spiked from $0.8 million to $67 million in a matter of days as a result of the actions of one individual. The same individual, according to Juliano, attempted to attack the SUSHI market on dYdX a few weeks earlier. "We did take action to increase initial margin ratios for $YFI prior to the price crash, but this was ultimately not sufficient. The actor was able to withdraw a good amount of $USDC from dYdX right before the price crash," he wrote. On X, the exchange’s team said that "highly profitable trading strategies have now been banned on dYdX,” in a reference to the language used by Mango Markets’ exploiter Avraham Eisenberg in his $116 million attack of 2022. dYdX is now offering a bounty payment in exchange for valuable information:dYdX will pay bounties to those most helpful in aiding the investigationWe will not pay bounties to, or negotiate with the attackerWe and others have made significant progress into identifying the attacker. We are in the process of reporting the information we have to the FBI— Antonio | dYdX (@AntonioMJuliano) November 19, 2023

The YFI token declined by 43% in just a few hours on Nov. 17 after soaring over 170% in November. The sharp decline wiped out over $300 million in market capitalization from the recent gains, according to data from CoinMarketCap. In the past 30 days, however, the token has still gained over 90%, trading at $9,190 at the time of writing.The Yearn.finance team hasn’t disclosed any official details about the incident. A source familiar with the matter told Cointelegraph that developers on the team do not control the majority of the token supply, strongly refuting initial concerns about a potential scam. The claim is supported by Etherscan data showing large centralized exchanges as YFI top holders.Magazine: Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis

dYdX raises margin requirements in some markets, bans “highly profitable trades”


                    
                    Sam Altman is ousted from OpenAI, BlackRock and Fidelity seek Ether ETF approval and Australia to tax gains from wrapped tokens.
                    Top Stories This WeekSam Altman ousted from OpenAI, CTO Mira Murati named interim CEOChatGPT developer OpenAI removed founder Sam Altman from his CEO position on Nov. 17. Chief technology officer Mira Murati is now serving as interim CEO. According to a blog post, the board of directors engaged in a deliberative review process, which resulted in the conclusion that Altman was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. Shortly after, OpenAI co-founder and president Greg Brockman revealed his exit from the organization.BlackRock files S-1 form for spot Ether ETF with SECThe worlds largest asset manager, BlackRock, officially filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Nov. 15. The ETF, dubbed the iShares Ethereum Trust, aims to reflect generally the performance of the price of Ether, according to the S-1 filed with the SEC. The iShares brand is associated with BlackRock’s ETF products. The move by BlackRock comes nearly a week after it registered the iShares Ethereum Trust with Delawares Division of Corporations and almost six months after it filed its spot Bitcoin ETF application. Following BlackRocks filing, asset manager Fidelity also sought a green light for its own Ether ETF.Australia to impose capital gains tax on wrapped cryptocurrency tokensThe Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment with regard to decentralized finance and wrapping crypto tokens for individuals, confirming that Australians are liable for capital gains taxes when wrapping and unwrapping tokens. The transfer of crypto assets to an address that the sender does not control or that already holds a balance will be regarded as a taxable CGT event, the ATO said in its statement. The CGT event will trigger depending on whether the individual recorded a capital gain or loss. A similar approach has been considered for taxing liquidity pool users, providers and DeFi interest and rewards. In addition, wrapping and unwrapping tokens will also be subject to triggering a CGT event.FTX Foundation staffer fights for $275K bonus promised by SBFAn employee of FTXs charity wing recruited by Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus. Ross Rheingans-Yoos lawyers argued in a court filing that only $375,000 of his $650,000 bonus was paid by FTX. They claim the remaining funds were owed when the crypto exchange filed for bankruptcy in November 2022. The fate of Rheingans-Yoos bonus will be determined by a Delaware bankruptcy judge who is overseeing FTXs Chapter 11 bankruptcy.WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisionsWisdomTree filed an amended Form S-1 spot Bitcoin ETF prospectus with the U.S. SEC on Nov. 16. The update comes a few months after WisdomTree refiled its spot Bitcoin ETF application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust. The amended prospectus mentions that the WisdomTree Bitcoin Trust ETF will trade under ticker symbol BTCW, with Coinbase Custody Trust serving as the custodian holding all of the trusts Bitcoin on its behalf.Winners and LosersAt the end of the week, Bitcoin (BTC) is at $36,419, Ether (ETH) at $1,946 and XRP at $0.61. The total market cap is at $1.38 trillion, according to CoinMarketCap.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celestia (TIA) at 103.39%, yearn.finance (YFI) at 88.04% and THORChain (RUNE) at 54.38% . The top three altcoin losers of the week are Gas (GAS) at -64.85%, FTX Token (FTT) at -35.17% and Neo (NEO) at -20.27%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.      Read also                                                                              Features                            2023 is a make-or-break year for blockchain gaming: Play-to-own                                                                                                                    Features                            Building blocks: Gen Y can use tokens to get on the property ladder                                            Most Memorable QuotationsEducation and utility-based projects where there is real utility for usage is how we can get regulators onboard.Navin Gupta, managing director of South Asia, Middle East and North Africa at RippleWe believe derivatives will foster additional liquidity and hedging opportunities in crypto and represent the next critical step in this markets continued growth.John Palmer, president of Cboe DigitalI am very bullish about a whole bunch of different things going on in crypto. […] It will be a multichain world.Brad Garlinghouse, CEO of RipplePhone and the internet arent to be blamed for terror financing and crypto shouldnt either.French Hill, United States RepresentativeI believe that code is a form of speech and is protected by the First Amendment.Vivek Ramaswamy, entrepreneur and U.S. presidential candidateThe digital euro would also mean that each and every one of us could be totally monitored. […] Anyone who is against surveillance and for freedom does not need a digital euro!Joana Cotar, member of the German BundestagPrediction of the weekBitcoin traders BTC price dip targets now include $30.9K bottomBitcoin circled $36,000 on Nov. 16 as analysis hoped for a deeper price comedown. Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels.Would be happy to see this latest rally complete the round trip back to $35k. Would be even happier to see a retest of $33k, monitoring resource Material Indicators wrote in part of the days commentary on X (formerly Twitter).A snapshot of BTC/USDT order book liquidity showed support building at $35,000. Material Indicators co-founder Keith Alan added that Bitcoins rising 21-day simple moving average had been functioning as support in recent days.BTC continues to fight for the range above $36.5k, he commented.Popular pseudonymous trader Daan Crypto Trades likewise flagged $35,700 and $38,000 as the main downside and upside levels to watch, respectively. Fellow pseudonymous trader Gaah, a contributor to on-chain analytics platform CryptoQuant, meanwhile warned that a steeper correction could take the market closer to $30,000.FUD of the WeekCybersecurity team claims up to $2.1B in crypto stored in old wallets is at riskCybersecurity company Unciphered disclosed a vulnerability dubbed Randstorm, which it said affects millions of crypto wallets that were generated using web browsers from 2011 to 2015. According to the firm, while working to retrieve a Bitcoin wallet, it discovered a potential issue for wallets generated by BitcoinJS and derivative projects. The issue could affect millions of wallets and around $2.1 billion in crypto assets, according to the cybersecurity company.Swan Bitcoin to terminate customer accounts that use crypto-mixing servicesBitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks. Customers learned about the new policy in a letter suggesting the changes are due to the United States Financial Crimes Enforcement Networks proposed rule establishing new responsibilities on firms processing transactions from mixing services.ENS developers urge Unstoppable Domains to drop patents or face lawsuitThe founder and lead developer of Ethereum Name Service (ENS), Nick Johnson, is urging blockchain domains company Unstoppable Domains to drop a recently awarded patent or face a lawsuit, according to an open letter shared on X (formerly Twitter). According to Johnson, Unstoppable’s recently awarded patent is based entirely on innovations that ENS developed and contains no novel innovations of its own. Unstoppable Domains’ founder Matthew Gould responded in the thread, claiming that there are multiple naming systems.      Read also                                                                              Features                            Bitcoin ledger as a secret weapon in war against ransomware                                                                                                                    Features                            Tokenomics not Ponzi-nomics: Influencing behavior, making money                                            Top Magazine Pieces of the WeekI spent a week working in VR. It was mostly terrible, howeverCointelegraph Magazine journalist Felix Ng spent a week working in virtual reality. It was mostly terrible… but does have some potential.Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomatsBitcoin is really one of the most foundational parts of Liberland  99% of our reserves are in BTC.No civil protection for crypto in China, $300K to list coins in Hong Kong? Asia ExpressHong Kong exchanges expand amidst continued investor interest, Philippines to issue $180M in tokenized bonds, China rules out civil protection for crypto, and more!    Subscribe    The most engaging reads in blockchain. Delivered once a        week.         Email addressSUBSCRIBE    

OpenAI’s Sam Altman ousted, BlackRock and Fidelity seek Ether ETF, and more: Hodler’s Digest, Nov. 12-18

In November, Rebel Satoshi (RBLZ), Flow (FLOW), and THORChain (RUNE) are in focus

Analysts forecast Rebel Satoshi, Flow, and THORChain to extend gains in November

The post Analysts Bullish on Bitcoin’s Future; Market Shifts Focus to Altcoins Like VC Spectra and THORChain for Larger Profits appeared first on Coinpedia Fintech News
Dive into the evolving landscape of cryptocurrencies with a surge in Bitcoin’s (BTC) value, fueled by the potential introduction of U.S. Spot Bitcoin ETFs. Explore the groundbreaking VC Spectra (SPCT), a decentralized hedge fund, and witness the impressive 212% rise of THORChain (RUNE). Discover BTC’s latest trends and the top altcoins like VC Spectra (SPCT) …

Analysts Bullish on Bitcoin’s Future; Market Shifts Focus to Altcoins Like VC Spectra and THORChain for Larger Profits


                    
                    Decentralized exchange Sushi will test native Bitcoin DeFi functionality that promises to allow users to swap BTC across 30 blockchain networks. 
                    DeFi platform Sushi has partnered with interoperability platform ZetaChain to explore the possibility of native Bitcoin swaps for its users across 30 different blockchain networks.Sushi’s deployment of its decentralized exchange (DEX) on ZetaChain is touted to enable trading of BTC without wrapping across several blockchains in what the team describes as a “native, decentralized and permissionless manner”.The integration is set to include Sushi’s v2 and v3 automated market makers and Sushi’s cross-chain swap SushiXSwap. ZetaChain core contributor Ankur Nandwani tells Cointelegraph that the partnership can bring Bitcoin’s vast user base to the DeFi sector in a native manner. He also countered arguments that suggest that bridging BTC without wrapping the assets on another chain is not possible.“There have already been early examples like THORChain who are trading Bitcoin natively with other chain assets. Other approaches like Bitcoin side chains also offer a flavor,” Nandwani said.He adds that ZetaChain’s approach effectively allows anyone to build Bitcoin-interoperable decentralized applications (DApps) that can settle contracts and transactions natively.“Of course, there are trust assumptions — namely trusting the decentralization of the network that is doing this cross-chain transaction.”ZetaChain has reportedly proven the technology at a testnet level and will look to prove the utility when it launches its mainnet through partnerships with SushiSwap and other DeFi protocols.Sushi head chef Jared Grey hailed the integration as a significant advancement for DeFi and described the capability to swap Bitcoin natively as a “game-changer” for the industry. “It’s not only about the increased liquidity from Bitcoin; it’s about beginning a new chapter in DeFi, where we see more practical use cases of interoperability and enhanced connectivity.”Sushi’s integration with ZetaChain is set to take place in two phases. The first will see Sushi introduce a DEX on ZetaChain’s testnet to support basic asset swaps and liquidity provision. This phase is also set to include beta testing and incentives for application testing. Sushi will become one of ZetaChain’s launch partners when it deploys its mainnet. The launch is expected to be followed by full functionality for Bitcoin interoperability. Nandwani outlined the technical details behind the functionality that allows for native BTC cross-chain swaps.A cross-chain swap contract is deployed on ZetaChain’s EVM (Ethereum Virtual Machine). The contract is omnichain, which means that while it’s deployed on ZetaChain, it can be called, and the value can be passed to it from any connected chain, including Bitcoin. Calling a cross-chain swap contract involves a user sending a regular native token transfer transaction on Bitcoin with a special memo to a TSS address. The memo contains the omnichain contract address on ZetaChain and a value that is passed to the contract. For a cross-chain swap, the value would be the destination token, for example, ETH or USDC on Ethereum, as well as the recipient address on the destination chain.Related: Bitcoin could become the foundation of DeFi with more single-sided liquidity poolsThe TSS address is an address that is owned by ZetaChain signer validators. BTC transferred to the TSS address is locked and validators observe this transfer and cast a vote about this event on ZetaChain. If enough votes are cast, the event is considered observed and an inbound cross-chain transaction (CCTX, from Bitcoin to ZetaChain) is created.Once a CCTX is processed, a ZetaChain ominchain contract is called and the amount of BTC transferred to the TSS address is minted as ZRC-20 BTC. During the cross-chain swap contract execution, a ZRC-20 BTC is swapped for ZRC-20 of another token, for example, ZRC-20 ETH.ZRC-20 ETH is then finally withdrawn to the destination chain. During the withdrawal process ZRC-20 ETH is burned and an outbound CCTX is created from ZetaChain to Ethereum. Observer validators vote on this CCTX on ZetaChain. Once the outbound CCTX is processed, native ETH is transferred from the TSS address on Ethereum to the recipient on Ethereum.Nandwani provides this example to outline how native BTC is swapped for native ETH in a decentralized manner facilitated by ZetaChain’s network validators across connected chains. Magazine: Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon

Sushi taps into ZetaChain to begin testing native Bitcoin DeFi swaps

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