Week 11 CryptoCurated: BTC’s All-Time High, Market Moves & More
Welcome to Week 11 of CryptoCurated! This week, we cover Bitcoin’s record high, key altcoin trends like Solana and THORChain, major crypto lobbying developments, insights on wallets and top CEXs!
Price Update: BTC Hits All-Time High Over $90,000
Bitcoin has reached a major milestone, breaking past $90,000 and setting a new all-time high. As of now (November 13th, 4pm US Central Time), BTC is trading at $88,942, marking a 17% 7-day increase from last week’s value of $76,002 on November 6th, 2024.
This rally is driven by strong market momentum, growing demand, and increased institutional engagement, with 24-hour trading volume rising to $142.3 billion from last week’s $136.5 billion.
Weekly Price Update for SOL and RUNE
Solana (SOL) is currently priced at $211.24, reflecting an impressive 11.5% increase from its $189.37 price on November 6th.
Its 24-hour trading volume has risen to $13.4 billion from $12.2 billion the previous week. This consistent growth highlights Solana’s increasing adoption and position within decentralized finance (DeFi).
THORChain (RUNE) is trading at $5.52, down slightly by 0.4% from $5.54 on November 6th.
However, its 24-hour trading volume experienced a sharp uptick to $841.9 million, up from $708 million last week. This heightened activity suggests significant market interest and developments within the ecosystem.
Wallets Spotlight: Phantom, Shapeshift, Vultisig, and Top CEXs (Centralized Exchanges)
• Phantom offers streamlined DeFi integration for Solana and Ethereum ecosystems, enhancing user experience.
• Shapeshift continues to lead as an open-source, non-custodial trading platform.
• Vultisig provides a novel approach to security with its seedless, multi-signature vault system, ensuring better protection and usability for users (learn more here).
• Prominent centralized exchanges (CEXs) like Coinbase, Kraken, and Binance offer a blend of accessibility and security tailored to both new and experienced crypto traders.
Crypto Lobbying Efforts in the U.S.
Recent U.S. elections showcased notable wins for pro-crypto advocates, with increased influence on policy directions that favor blockchain and digital assets.
This shift signals a growing recognition of crypto’s role in the broader financial system, as highlighted by industry leaders. Learn more here.
The Bitcoin Halving & Future Price Trajectories
With the 4th Bitcoin halving event having took place on April 26th, 2024, historical data suggests potential for significant growth trajectories. As depicted in recent Substack analysis by user Ecoinometrics, if BTC’s growth after the fourth halving mirrors past cycles, projections range from prices as low as $140,000 to as high as $4,500,000 per coin.
Though Bitcoin has reached new highs, it remains below historical growth trends seen after prior halvings. This upcoming supply contraction will be a pivotal moment for market dynamics and investor sentiment through 2024 and well into 2025.
THORChain Ecosystem Update: RUJIRA and RUNE’s Milestone
THORChain continues to evolve, with the RUJIRA NETWORK initiative expanding its cross-chain liquidity offerings as THORChain’s future application layer.
RUNE’s market cap recently surpassed the $2 billion mark, reflecting robust community and developer engagement. Key insights from JP Thor further underscore the network’s growing relevance in the DeFi sector.
Crypto’s Market Influence Grows
Bitcoin’s market capitalization now surpasses the combined value of major companies like Walmart, Netflix, Coca-Cola, and McDonald’s.
This milestone underscores the increasing influence and mainstream adoption of digital assets within traditional finance.
Thank you very much!! Please share and welcome back next Wednesday for Week 12 of CryptoCurated!!
Disclaimer: This newsletter is for educational and entertainment purposes only. Please conduct your own research and consult a financial advisor before making any investment decisions.
Packed full of information! Great work! Bitcoin is on 🔥 📈🚀🚀