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Crypto market cap hits $1.61T as Memeinator token sale thrives

  • The cryptocurrency market cap has jumped to $1.61 trillion.

  • Data by CoinMarketCap shows that the valuation sits at $1.59 trillion.

  • Memeinator has raised over $1.7 million in the past few months.

Cryptocurrencies have become the best-performing assets this year with Bitcoin and other altcoins surging. Bitcoin is slowly nearing the psychological level of $45,000, a few months after it tumbled to $15,000. Ethereum, on the other hand, is comfortably above $2,300 while coins like ORDI, Aurora, and TokenFi have surged.

Crypto market cap is soaring

The surge in crypto prices has led to a big increase in the total market capitalization. Data compiled by CoinGecko shows that the total market cap has jumped to over $1.67 trillion. CoinMarketCap has a different figure, putting it at $1.59 trillion. 

Bitcoin has led the surge in this market capitalization since it stands at over $858 billion. If it was a company, Bitcoin would be the sixth biggest company in the world after Apple, Microsoft, Saudi Aramco, Alphabet, Amazon, and Nvidia. Bitcoin dominates over 53% of all digital currencies.

Ethereum is the second-biggest cryptocurrency with a market cap of over $272 billion. Other big coins that have driven the total market cap are Tether, BNB, XRP, and Solana. 

There are a few reasons why the crypto market cap has surged. First, it has rallied because of the rising hopes that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF. If it does this, there is growing optimism that companies will file for ETFs of cryptocurrencies like Ethereum, Ripple, and Solana.

Second, from a monetary policy stance, investors believe that the Federal Reserve has an opportunity to cut interest rates. If this happens, the view is that Bitcoin can survive in all market conditions since the initial surge happened in a low-interest rate environment. In a statement, an analyst told Bloomberg:

“What we’re seeing is a combination of the crypto cycle entering the bullish phase, the macroeconomic environment turning more favorable towards risk assets, and increasingly positive news about the incoming Bitcoin and Ethereum ETFs.”

Memeinator is thriving

The surge in cryptocurrencies has also led to demand for unlisted tokens. Memeinator, a new meme coin that seeks to become the next big thing, has scooped over $1.7 million from investors. They hope that the token will become as successful as other meme coins like Memecoin (MEME), Dogelon Mars, Pepe, and Bonk. 

Most of these meme coins have surged this year and created many millionaires along the way. Bonk is the 128th biggest cryptocurrency in the world with a market cap of over $422 million. Pepe is valued at over $672 million, which are huge figures.

Memeinator hopes to create value by incorporating both meme coin capabilities and artificial intelligence, two of the hottest themes in the industry. Therefore, there is a likelihood that the token will surge after its listing in the coming weeks. You can buy the MMTR token here.

Still, like all assets, investing in Memeinator carries some risks. The biggest risk is if the price crashes hard shortly after listing. If this happens, it is possible to have some losses. Therefore, the solution is to engage proper risk management strategies, including only allocating funds that you can afford to lose.

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Bitcoin skyrockets to $44,000 as bulls brush bears aside

  • Bitcoin price rose to a high of $44,100 on Coinbase on Tuesday as bullish sentiment strengthened.
  • The flagship cryptocurrency’s market cap also cross above $850 billion.
  • Analysts say a brief pullback is likely, though we could see prices rally to $47k-$48k.

Bitcoin (BTC) price broke past $43,000 on Tuesday afternoon, rising as high as $44,100 on major cryptocurrency exchange Coinbase. This follows the breakout to above $42k on Monday as the world’s largest digital asset by market capitalization continued to enjoy the latest bullish ride.

BTC is up 5% in the past 24 hours and 14% in the past week, trading at around $43,800. Its market cap has reached $850 billion after seven consecutive weekly green candles.

According to data from Coinglass, more than $100 million in Bitcoin liquidations have occured in the past 24 hours, with over $80 million in shorts.

BTC hits $44k, but is a pullback due?

On Tuesday, the upsurge happened after a brief retreat from above $43k area, and with price hovering at this yearly high, it’s possible an extension could see buyers retest a crucial resistance level analysts have pointed out.

According to crypto analyst Ali, a price correction for the benchmark cryptocurrency “is coming.”

While the market may still rally higher, the analyst sees a potential pullback as highlighted by the TD Sequential indicator on both the daily and 3-day charts. The retreat could happen “within the next 7 to 48 hours,” Ali added, basing his prediction on the charts’ outlook.

If Bitcoin continues higher, it could target the $47k-$48k area, which is a key resistance zone.

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Societe Generale issues first digital green bond on Ethereum

  • Societe Generale’s first digital green bond is a senior preferred unsecured bond on Ethereum.
  • The bond was issued as a Security Token and registered on November 30, with an inaugural value of 10 million euros.
  • The maturity is three years and net proceeds will go to eligible green projects and activities.

Societe Generale, the third-biggest bank in France, recently issued the first ever digital green bond on a public blockchain, according to details in a news release.

The French financial services giant said the issuance of the senior preferred unsecured bond was on the Ethereum blockchain, and carried an initial transaction of 10 million euros ($10.79 million).

The bond, which was issued as a Security Token and registered on November 30 by Societe Generale subsidiary Forge, has a maturity of three years and grants access to the transparency and traceability of its carbon footprint via a smart contract.

Net proceeds to finance green projects

According to the bank, net proceeds from the bond will go into financing or refinancing of eligible “green” projects or activities.

Investors also have a new option of settling securities on-chain, with this possible through the EUR CoinVertible (EURCV), a euro-pegged stablecoin Forge issued in April. It accords investors a complementary solution to traditional cash settlement.

Per Societe Generale, the benefits of the EUR CoinVertible’s on-chain solution is evident as countries continue to experiment with Central Bank Digital Currencies (CBDCs), the bank noted.

As major financial institutions and providers increasingly adopt blockchain technology, Paris-based Societe Generale has become one of the biggest to tap the innovation. It has issued euro bonds, including in partnership with the European Investment Bank (EIB), on the Ethereum blockchain.

The company has also issued security tokens on Tezos.

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TokenFi (TOKEN) price jumps 48%: Here’s why its among today’s biggest gainers

  • TokenFi (TOKEN) price has jumped 48% in 24 hours and 106% in the past week.
  • The gains come as the community prepares for major product launches, including staking.
  • TokenFi will also unveil the mainnet release of its Token Launcher and QuickLaunch Bot.

Ahead of what could be a defining few weeks for TokenFi, the price of its native token has seen a remarkable upside.

The gains for TOKEN comes as altcoins and meme tokens mirror Bitcoin’s spike to above $42k on Monday. For TOKEN, the upside also comes amid fresh interest in real world asset (RWA) tokenization.

As one of the projects looking to break into the market, trending alongside Visa, BTC and Gold today could be viewed as a significant show of interest.

TokenFi’s “packed” December

Although recently launched by the Floki Inu (FLOKI) team, TokenFi is attracting a lot of attention for its real-world assets (RWAs) tokenization platform. As reported, funds in the UK recently got the nod to offer tokenised investments.

Amid huge investments into the sector by industry behemoths, TokenFi is targeting a piece of this $16 trillion market with the release of its RWA Tokenization Module, set for 2024.

But ahead of this, the platform has lined up a series of product launches in the coming weeks. The market outlook combined with these developments could catalyse further momentum for TOKEN.

Among the project milestones set for this month is staking. This is scheduled to go live on both the Ethereum and BNB Chain mainnets on Friday, December 8, 2023.

TokenFi will follow this with the mainnet releases of its Token Launcher, QuickLaunch Bot, and Launchpad. The testnets for TokenFi Token Launcher and TokenFi QuickLaunch Bot went live in the last week of November, with users able create tokens “in just a few clicks and without touching a line of code.”

Apart from the two features, the platform will also unveil its user incentives system before the end of the year.

TOKEN price near ATH

In the past 24 hours TOKEN has jumped 48% in 24 hours and 106% this past week to reach $0.052. Trading volume for TOKEN reached $87.7 million on Tuesday morning, representing a 265% jump as market activity rose. 

With TOKEN/USD just shy of its all-time-high above $0.053 reached on November 2, it could be heading for $0.1 soon.

Today, it ranks among the top biggest gainers, alongside Casper Network (CSPR), Aurora (AURORA) and Memecoin (MEME).

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Riot purchases BTC miners worth $290M from MicroBT

    • Riot has announced its largest hash rate purchase with 18 EH/s supply from MicroBT.
    • The 66,560 latest generation M66S model BTC miners will cost $290.5 million.
    • Riot stock price rose following the news, trading to above $15 on Monday, December 4.

Bitcoin mining company Riot Platforms, Inc. (NASDAQ: RIOT), has announced the purchase of over 66k miners from Bitcoin mining hardware manufacturer MicroBT.

The purchase adds to the 33,280 miners Riot secured in an earlier agreement. It is the company’s largest so far, Riot CEO Jason Les said in a press release.

Riot purchases 18 EH/s of miners from MicroBT

According to the mining firm, the new order is for 66,560 of MicroBT’s M66S model, a recently announced miner boasting an efficiency rating of 18.5 Joules per terahash. The total cost for the miners will be $290.5 million, with the average price per TH at approximately $16.

Riot also said it had updated its long term purchase agreement with MicroBT, which gives the miner the option to acquire up to 265,000 additional miners. These purchases will bear the same terms as the newly announced order.

“The price of these future purchase options will not exceed our current order as announced today, giving Riot the ability to more effectively plan future capital requirements and providing protection from potentially higher market prices for miners in the future,” Les noted.

Deployment of the 33,280 MicroBT miners will happen in the first quarter of 2024, while delivery for the just announced batch will begin in the second half of next year. Riot expects the two orders to be fully delivered in the second half of 2025, with the company’s total self-mining hash rate surpassing 38EH/s.

If Riot completes the future purchases, it would acquire an additional 75 EH/s and see its self-mining capacity rise to over 100 EH/s.

RIOT price jumps as Bitcoin soars above $40k

News of Riot’s strategic purchases and expansion plans appears to have buoyed investors. As of Monday afternoon, the mining company’s stock price was up 8% on the day and nearly 24% in the past week.

RIOT was up 345% year-to-date at $15.07. However, it remains down on July 2023 highs above $20 and all-time high above $79.50 reached in February 2021. While the current price is significantly down on the ATH, the bullish outlook for Bitcoin could see RIOT rally higher.

On Monday, Bitcoin price reached highs of $42k for the first time since April 2022.

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