Neela

@neela

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Dow, S&P 500 Fall; Bitcoin Briefly Tops $108,000 — WSJ Bitcoin hit a record high above $108,000, while U.S. stock indexes fell ahead of the Federal Reserve's expected rate cut decision. Retail sales rose 0.7% in November, but industrial production declined, signaling mixed economic data. Major indexes like the Dow, Nasdaq, and S&P 500 saw losses, with the Dow nearing its longest losing streak since 1978. Treasury yields dipped slightly after Monday's close at 4.397%. Oil prices fell below $70 per barrel, and the Canadian dollar hit a multi-year low amid political instability. Overseas markets were mostly down.

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We Asked ChatGPT if Ripple (XRP) Can Reach $1T Market Cap This Cycle XRP experienced significant price gains, surging to $2.5 and a $140 billion market cap following bullish sentiment and regulatory developments. For XRP to reach a $1 trillion market cap (~$17.5/token), factors like sustained bull markets, increased adoption by financial institutions, and partnerships could drive demand. Upcoming innovations like the RLUSD stablecoin might further boost its prospects. Challenges include competition from other projects, regulatory uncertainty, and potential selling pressure from Ripple Labs' token releases. A more crypto-friendly regulatory environment could positively impact XRP’s growth trajectory.

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Layer 0: Solving Bitcoin’s interoperability challenges Bob Bodily argues that liquidity fragmentation limits broader Web3 adoption, especially for Bitcoin, due to its lack of native smart contracts and interoperability challenges. He proposes a "layer 0" protocol enabling Bitcoin-native crosschain compatibility through threshold signing subnets and integration with Ethereum-compatible ecosystems. This innovation could make Bitcoin programmable, unlock decentralized finance (DeFi) use cases, and improve mining efficiency by allowing miners to hedge risks. Existing services like Rainbow Protocol and Tap Protocol exemplify this technology’s potential. By enhancing Bitcoin's connectivity, this approach can unify Web3 and drive global adoption.

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Cardano Foundation X account hacked, scam links posted, then removed The Cardano Foundation's X account was hacked on December 8, promoting a fake "ADAsol" token and a false SEC lawsuit, resulting in $500,000 in trading volume before the token crashed by 99%. Founder Charles Hoskinson confirmed the breach, and the fraudulent posts have since been removed. The Foundation is securing the account, with no impact on the broader ecosystem, but users are advised to avoid links. X account hacks are increasingly common, with victims including Compound Finance, Symbiotic, Eigenlayer, Truth Terminal AI, and rapper Wiz Khalifa, who all suffered phishing or scam campaigns targeting unsuspecting users.

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What are convertible senior notes? How MicroStrategy uses them to buy Bitcoin Convertible senior notes are hybrid debt instruments allowing companies to raise capital without immediate equity dilution, offering investors the option to convert debt into shares. MicroStrategy has used this strategy extensively, raising over $3 billion since 2020 to acquire approximately 402,100 Bitcoin. The company’s zero-coupon notes, maturing in 2029, offer conversion options tied to its stock price and have helped drive significant stock growth, outperforming Bitcoin itself. While this strategy benefits from Bitcoin's appreciation, it involves risks like price volatility, regulatory challenges, and rising interest rates. Investors gain exposure to Bitcoin with downside protection but face the complexities of a highly volatile asset.

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Ether's Price Chart Now Mirrors a Pattern That Foretold Bitcoin's Record Rally Ethereum's ether (ETH) has broken its eight-month corrective trend, resuming its broader uptrend from October 2023 lows near $1,500, as indicated by the three-line break chart. This breakout mirrors Bitcoin’s mid-October rally, which led BTC to surge 45% to over $96,000. Ethereum's bullish case is further supported by increased activity on its network, including higher "blob" postings by layer 2 protocols, reducing ETH supply through burning. Investor interest is growing, with U.S.-listed spot ether ETFs seeing a record $332.9 million inflow. These factors strengthen Ethereum's bullish momentum alongside broader crypto market optimism.

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CryptoPunks lead November NFT rally with 47% floor price increase CryptoPunks' floor price surged 47% in November, reaching 37.68 ETH, its highest since May, far outpacing gains by rival NFT collections like BAYC and Pudgy Penguins. This performance underscores CryptoPunks' status as a blue-chip NFT, driven by its cultural significance and liquidity. The broader NFT market's recovery, bolstered by Bitcoin's new all-time high, has further fueled demand. CryptoPunks' strong secondary market presence makes it a favored asset during capital shifts. This recovery highlights its enduring appeal amid renewed optimism in the crypto space.

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Ethereum Eyes $3,900 – Key Resistance Break Could Spark A Surge Ethereum has surged to $3,688, marking its highest level since June and fueling anticipation for further gains. Crypto analyst Carl Runefelt highlights a critical resistance level that, if breached, could propel ETH to $3,900 and possibly above $4,000, reaffirming its bullish momentum. Currently trading at $3,600, Ethereum is at a pivotal point; maintaining this level could lead to further surges, while a drop might trigger corrections to $3,400 or lower. As the broader altcoin market gains strength, Ethereum's next moves will play a key role in shaping overall market sentiment.

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I just used this frame to check the price of Degen (Base). The current price is $0.017902. Check it out! Frame by @jhonc.eth.

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let's go Ⓜ️oxie

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NFTs hit $158M weekly sales, Sky Mavis lays off 21% of workforce: Nifty Newsletter This week’s NFT highlights include a strong sales momentum with $158 million recorded from Nov. 18–24, despite a slight dip from the previous week. Sky Mavis, Axie Infinity's creator, laid off 21% of its workforce to focus on new projects, amid declining NFT valuations. Kraken is shutting down its NFT marketplace, initiating a withdrawal-only phase starting Nov. 27. Meanwhile, FIFA and Mythical Games announced a blockchain-based soccer game, *FIFA Rivals*, featuring an NFT economy. November NFT sales exceeded $400 million, showcasing steady growth. Stay tuned for more updates in this evolving space next week!

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Web3 gaming is evolving, with titles like *Off The Grid* and platforms like Telegram demonstrating that blockchain integration succeeds when it’s invisible and secondary to gameplay. *Off The Grid*, a blockchain-powered cyberpunk game, uses Avalanche for NFT trading and tokens, while Telegram integrates blockchain seamlessly into its games. These successes highlight two key lessons: focus on creating fun, engaging games and simplify blockchain access for players. Historical failures show that blockchain features alone can’t drive adoption; great games must lead the way. As we approach 2025, making blockchain invisible yet impactful will be crucial for web3 gaming's mainstream breakthrough.

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Zircuit (ZRC) - Bybit Listing - 25 Nov 2024 The listing of Zircuit (ZRC) on Bybit could lead to a price boost for the token. New exchange listings often increase a coin's visibility and accessibility, drawing in new investors who were previously unable to buy and sell the asset easily. Bybit is one of the leading cryptocurrency exchanges, and having ZRC listed there can result in higher trading volumes. More buyers typically increase demand for the coin, potentially driving up its price. For more details, see the announcement by Bybit.

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Thursday triumph: guessed it right and now I am eligible to earn $LUM $LUM! 🎞️ Try your hand at today’s game. Game powered by @percs.

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Claiming my @socialtoken airdrop and crediting @toobimoobi with my social airdrop

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Bitfinex Securities, a digital securities exchange linked to Tether, has launched a tokenized public offering of U.S. Treasury bills under El Salvador's regulatory framework. The token, USTBL, offers exposure to short-term U.S. T-bills with a 5.02% annual yield and is issued on Bitcoin’s Liquid Network layer-2 solution. Investors can initially purchase USTBL with Tether’s USDt, with trading set to follow on Bitfinex Securities' market. Proceeds will fund investments in an ETF tracking short-term U.S. Treasury bonds. This offering excludes North American and sanctioned country investors and highlights El Salvador's progressive digital asset regulations.

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Elon Musk 'shot down' OpenAI's ICO plan in 2018 over credibility concerns Elon Musk rejected OpenAI CEO Sam Altman’s 2018 proposal for an ICO, warning it would harm the company’s credibility, according to recent court filings. This followed Musk’s earlier opposition to OpenAI’s shift from a nonprofit to a for-profit model in 2017, prompting him to halt funding. Musk sued OpenAI in February 2023, alleging violations of its nonprofit commitments, renewing the lawsuit in August. Altman and Greg Brockman allegedly pursued for-profit fundraising after Musk’s withdrawal. Separately, a 2022 class-action lawsuit accusing Musk of manipulating Dogecoin’s price was withdrawn on Nov. 14.

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Cryptocurrencies Surge to New Highs as Trump Administration Takes Shape Bitcoin hit a new all-time high of $82,123 amid optimism over President-elect Trump’s pro-crypto stance, despite a slight dip in Ethereum. The global crypto market cap rose 2.9% to $2.8 trillion. The crypto industry contributed $135 million to 2024 campaign candidates across parties, including Trump, who proposed a national bitcoin reserve. Trump has begun appointing his administration, while key economic data, including inflation and retail sales, are set to be released later this week.

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Bitcoin ripe for 'major leg down' as BTC price nears $80K — Trader Bitcoin surged close to $80,000 over the weekend, with bulls taking advantage of low liquidity to push prices higher. While BTCUSD is up nearly 15% this week, some analysts are cautious, noting weekend moves often retrace due to liquidity issues. Keith Allen and WhalePanda emphasized the likelihood of pullbacks, with analysts watching for critical weekly and monthly closes. Trader Skew noted that large players might be driving prices through tactics that create artificial lows and trigger algo bidding. Despite the uptrend, Credible Crypto warned of a potential correction, targeting a dip below $50,000.

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Ether set for $3.2K breakout, Coinbase exec urges SEC reform: Finance Redefined Donald Trump’s re-election has spurred investor interest in cryptocurrencies, fueling a potential Ether rally above $3,200 as ETF inflows turn positive. Market optimism extends to regulatory expectations, with Coinbase’s Paul Grewal urging the SEC to adopt a more crypto-friendly approach, especially if SEC Chair Gary Gensler is replaced. Galaxy Digital saw record trading volumes on Election Day, driven by heightened crypto enthusiasm. Meanwhile, Magic Labs and Polygon launched a crosschain smart wallet to address DeFi liquidity fragmentation. Separately, Justin Sun claimed Coinbase sought $330 million in fees to list Tron, a claim Coinbase denies.

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