Top stories this week
- Bitcoin and Crypto Market Faces Major Losses
The cryptocurrency market has experienced a significant drop, losing $144 billion as Bitcoin’s price fell to around $84,113. This decline was triggered by an Asian market selloff and other market factors.
- Grayscale Files for First Zcash ETF in U.S.
Grayscale Investments has filed to convert its Zcash Trust into a spot ETF, aiming to broaden access to the cryptocurrency. This filing is a landmark move following a significant rise in Zcash’s price.
- Zero Knowledge Proof’s Auctions See Spike in Interest
The Zero Knowledge Proof (ZKP) project has initiated daily presale auctions, attracting significant interest with a 200M daily cap. This initiative aims to support private AI compute networks.
- Top Cryptos to Consider Buying Now
With the ongoing fluctuations in the crypto market, some cryptos like XRP, Hyperliquid, and Monad are recommended by analysts as potential investments for their potential future performance.
- Bitcoin Price Stability Above $90K Questioned
Bitcoin’s price remains above $90K, but analysts are questioning how long it can sustain this level amidst fluctuating trading volumes and market pressures.
- Grayscale Launches First Spot Chainlink ETF in U.S.
Grayscale is set to launch the first U.S. spot Chainlink ETF, marking an expansion of crypto investment products available to U.S. investors. The launch responds to rising demand for Chainlink.
- Tether Exits Bitcoin Mining in Uruguay
Tether has ceased its Bitcoin mining operations in Uruguay due to the country’s high energy costs, which made mining economically unviable.
- Crypto Hacks and Scams Result in Significant Losses
The cryptocurrency industry faced substantial security challenges in November, with platforms losing a total of $127 million to hacks and scams, including a $37 million hack on the Solana network.
- Bitcoin Price Drop Causes Major Liquidations
Bitcoin’s recent price drop below $89,000 led to over $200 million in long liquidations within an hour, indicating the cryptocurrency’s volatility and the high-risk nature of leveraged positions.
Hottest coins of the week
Turbo (TURBO)
Turbo (TURBO), an AI-generated meme coin, has witnessed a remarkable resurgence, surging approximately 76.41% over the past week and 49.35% in the last 24 hours, sparking renewed interest among investors. This recovery amid market volatility has positioned TURBO as a notable asset in the crypto market, captivating attention with a significant volume increase and potential as a top gainer. Despite a recent market dip, the regained stability and increased investor confidence contribute to the optimistic outlook for TURBO’s continued growth.
Alchemist AI (ALCH)
Alchemist AI (ALCH) is experiencing a significant price surge, with the coin increasing by +45.04% in the last 24 hours and +37.33% this week. This positive momentum could be attributed to the growing interest in Alchemist AI’s innovative approach to merging fiat and cryptocurrencies, which has sparked interest from global users seeking streamlined payment solutions. As the platform demonstrates its potential to revolutionize the payment ecosystem, investors are likely viewing ALCH as a promising investment opportunity.
AWE Network (AWE)
AWE Network (AWE) is seeing a significant price surge, climbing +17.76% in the past 24 hours and +30.82% within the week. This increase is driven by strengthened investor confidence due to AWE’s strategic initiatives and expanding partnerships. The coin’s impressive performance could also be attributed to a broader market rally that is impacting altcoins, making it an attractive option for traders.
SuperVerse (SUPER)
SuperVerse (SUPER) has seen a significant rise with a +4.84% increase in the past 24 hours and +28.56% over the week. This surge is likely driven by a combination of factors such as the overall bullish sentiment in the altcoin market and forecasts of an impending supercycle that benefits cryptocurrencies with strong fundamentals like SuperVerse. Additionally, increased adoption and strategic initiatives are likely encouraging investor confidence and contributing to the coin’s recent positive performance.
Basic Attention (BAT)
Basic Attention Token (BAT) has experienced remarkable price growth, surging more than 100% since October, primarily driven by the success of the Brave browser, which recently surpassed 101 million active users. This widespread adoption is generating positive sentiment and increased demand for BAT, contributing to its impressive climb of +11.83% in the last 24 hours and +27.42% over the week. The strong user base growth and continued momentum suggest that BAT could maintain its upward trajectory as more individuals become aware of its utility in the digital advertising space.
GoMining Token (GOMINING)
GoMining Token (GOMINING) has seen a price increase of +6.50% in the last 24 hours and +22.73% this week, largely due to the introduction of its innovative “Mine Now, Pay Later” program. This new model reduces entry barriers for prospective miners by allowing them to commence mining operations with a minimal 25% down payment, enjoy immediate rewards, and comfortably settle the balance over up to 90 days. This strategic move broadens participation in mining, enhancing the token’s appeal and driving its recent price momentum.
