CryptoStan

AI-based cryptocurrencies saw a significant rally in the past 24 hours. Near Protocol (NEAR) jumped 10%, Bittensor (TAO) surged 19.21%, and Artificial Super Intelligence Alliance (FET) rose 17.52%. This spike comes amid Nvidia’s market dominance, surpassing Apple as the world’s most valuable company with a $3.43 trillion market cap, fueled by its leadership in AI technology. The success of Nvidia’s GPUs, essential for AI and blockchain applications, has sparked increased investor interest in AI-driven tokens. With the broader AI crypto market now valued at $33.2 billion, analysts predict it could hit $100 billion by 2025. . . . . #cryptostan #thecryptocountry #cryptomarket #ai #nvidia #aitokens

Taiko’s total value locked (TVL) surged by an astounding 1,000% in just one month, reaching a record $81 million. The growth is fueled by strong performance from Panko Finance and Avalon Finance, each surpassing $30 million in TVL. With daily transactions hitting 5 million, Taiko is experiencing rapid adoption, driven by the demand for scalable, cost-effective solutions on Ethereum’s Layer 2 network. This milestone highlights Taiko’s rising prominence in decentralized finance (DeFi) and its potential to address Ethereum’s scalability challenges. . . . . #taiko #cryptomarket #defi #adoption #dailytransactions #ethereum #layer2 #cryptostan #thecryptocountry

Solana’s SOL token skyrocketed 17% in 24 hours, flipping BNB Chain to become the fourth-largest cryptocurrency. The surge is fueled by expectations of a crypto-friendly Trump administration, which could pave the way for a Solana ETF in 2025. VanEck and 21Shares have filed with the SEC for Solana spot ETFs, adding to bullish sentiment. Analysts predict SOL could surpass ETH and reach $1000 if the ETF is approved. With Trump leading the U.S. election, market optimism grows that crypto regulations may ease, further boosting Solana's price and market cap, now over $85 billion. . . . . #solana #bnbchain #market #uselection #donaldtrump #cryptostan #thecryptocountry #cryptocurrency

Here are some of the crypto updates for today. #cryptocurrencies #altcoins #defi #blockchain #bitmart #ascendex #poloniex #binance #hashkeytglobal #memecoin

The Shiba Inu team has unveiled plans to create the Strategic Blockchain Innovation Center (S.H.I.B.) in the United States, generating significant excitement in the crypto world. Lead developer Shytoshi Kusama announced the initiative on November 5, urging political leaders and stakeholders to support the project, which aims to position the U.S. as a global leader in blockchain technology. The S.H.I.B. initiative has an ambitious budget of $1.3 to $2.35 billion over five to ten years, focusing on building infrastructure, offering economic incentives, and fostering blockchain talent. The center aims to drive job creation, stimulate startup growth, and promote technological advancements, with an emphasis on sustainable practices. The community has reacted positively, with Shiba Inu supporter Kaaldhairya amplifying the project by tagging influential figures like Donald Trump and Elon Musk, calling for the creation of a “Crypto Valley” in the U.S. The announcement boosted the SHIB coin price by 4%, highlighting strong support from investors. If successful, the S.H.I.B. project could mark a pivotal step forward for blockchain adoption and innovation in the U.S., with potential long-term impacts on the cryptocurrency and tech sectors. . . . . #shibainu #blockchain #budget #cryptostan #thecryptocountry #cryptocurrency #SHIB

The State Bank of Pakistan (SBP) announced proposals for policy on November 4 to make digital assets, such as cryptocurrencies, legal money in the nation. This represents a significant change in Pakistan's position toward virtual currencies. The Monetary Policy Committee (MPC), led by SBP Governor Jameel Ahmad, presented amendments to existing regulations, allowing state banks to issue digital currencies. The proposals also include penalties for unauthorized issuers, aiming to create a more regulated environment for digital assets. If approved, the proposals could lead to a central bank digital currency (CBDC), potentially a digital rupee. They would also enable state banks to facilitate blockchain-based transactions, such as buying, selling, and trading cryptocurrencies. Historically cautious about crypto, the MPC’s shift follows the appointment of finance minister Muhammad Aurangzeb in March 2024. The MPC also announced a 2.5% interest rate cut, forecasting GDP growth of 2.5%-3.5% in fiscal year 2025. If passed, the proposals could attract investment and position Pakistan as a progressive player in digital finance. . . . . #pakistan #cryptocurrencies #monetarypolicy #thecryptocountry #cryptostan #investment #policy #regulation

On November 4, the Bitcoin Spot ETF saw a huge outflow of $541 million, which was just short of the $563 million that occurred in May 2023 and the second-largest single-day outflow in the fund's history. This abrupt decline suggests that the market for cryptocurrency ETFs will remain volatile. Significant withdrawals of 63 million were made from the Ethereum Spot ETF on the same day as Bitcoin. Given the continued market instability, investors seem to be reevaluating their exposure to cryptocurrencies, which points to a larger trend across digital asset ETFs. These withdrawals suggest that investor mood may be changing, with some becoming more cautious as a result of the volatility in the digital asset market. Large withdrawals may indicate a temporary market correction or a more significant shift in capital allocation methods within the cryptoETF market, which is why analysts are keeping a careful eye on these movements.  . . . . #cryptocurrency #bitcoin #ETFs #investment #trading #cryptostan #thecryptocountry

A recent report by CryptoQuant analyst Baykuş reveals that 79.92% of Ethereum (ETH) addresses are currently in profit, signaling strong bullish sentiment among investors. This high profitability reflects Ethereum's resilience and growth potential, despite market volatility. Baykuş identified critical support levels between $2,087 and $2,311, where buying interest is expected to stabilize prices. Resistance zones are set at $2,459 to $2,531 and $2,531 to $2,827, where selling pressure may arise. Traders can optimize strategies by buying near support and selling near resistance. The significant number of profitable addresses could enhance investor confidence, attracting new investments and supporting price stability. However, robust risk management remains essential as market dynamics continue to evolve. With Ethereum’s ongoing upgrades and its role in decentralized finance, the outlook for sustained growth appears promising. . . . . #ethereum #eth #profit #trading #investment #stocks #cryptostan #thecryptocountry

Crypto markets have pulled back after last week's Bitcoin rally, with heightened volatility expected in the coming days. Here are three key factors to watch: 1. US Presidential Election: The election on Tuesday could trigger significant market movements. A Trump victory is seen as bullish for crypto, while a Harris win may dampen sentiment. 2. Economic Reports: Key economic indicators will be released this week, including the ISM Services PMI and employment data on Thursday. These reports are critical for assessing the US economic landscape and may influence market sentiment. 3. Federal Reserve Meeting: Analysts anticipate a 0.25 basis point rate cut during Thursday's Fed meeting, with a 98% probability per the CME Fed Watch tool. Traders are bracing for volatility as they adjust their positions in response to these events. As the week unfolds, traders should remain vigilant amid shifting market dynamics, particularly as total market capitalization has already dipped by $50 billion. . . . . #cryptomarket #cryptocurrency #bitcoin #cryptostan #thecryptocountry #indicators #uselection

Singapore is intensifying efforts to commercialize tokenization, positioning itself as a leader in the digital asset space. The Monetary Authority of Singapore (MAS) is spearheading initiatives aimed at fostering innovation and regulatory clarity in the tokenization of assets, which can streamline transactions and enhance liquidity. By focusing on frameworks that support the development of tokenized assets, Singapore hopes to attract global businesses and investors. This move aligns with the nation's broader strategy to bolster its financial technology sector and maintain its competitive edge in the evolving digital economy. As Singapore pushes forward, it could pave the way for new investment opportunities and transformative changes in asset management, driving further adoption of blockchain technology in various industries. . . . . #singapore #tokenization #regulation #cryptostan #thecryptocountry #cryptocurrency