Kategorie: Crypto Markets

• Several altcoins are recording notable gains as the crypto market braces for new upside momentum.
• This comes as Bitcoin rose slightly after the declines that saw it drop to lows of $91,000 this week.
• With BTC reclaiming the area above $94, 300, Stellar (XLM), Uniswap (UNI) and Aave (AAVE) jumped more than 11% each.

XLM, UNI and AAVE tokens surge

XLM traded at $0.5066 at the time of writing, up nearly 16% in the past 24 hours and over 103% in the past week. Per CoinGecko data, Stellar had recorded more than $4.6 billion in 24-hour volume and its market cap stood $14.9 billion.

Meanwhile, the UNI price hovered around $12.64, up 15% over the last 24 hours and 39% this past week. The Uniswap market was $7.5 billion and the trading volume stood at over $1 billion.

Decentralized finance giant Aave’s price also rode bullish momentum over the last month to trade above $198. On Wednesday, AAVE token reached intraday highs of $195 and looking to break above $200. AAVE was up 12% in the past 24 hours and 20% this past week.

Other top altcoins, including XRP, Cardano (ADA) and Avalanche (AVAX) recorded double-digit gains, with XRP looking to strengthen above $1.40.

What’s delaying the altcoin season?

While major altcoins and meme coins are recording decent gains, analysts say the altcoin season is yet to arrive. Commenting on altcoin performance during this cycle compared to Bitcoin’s rip to near $100k, CryptoQuant CEO Ki Young Ju says things are different.

“Compared to the last cycle, the nature of capital flowing into Bitcoin has shifted. The current Bitcoin rally is primarily driven by demand from institutional investors and spot ETFs. Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins. Moreover, as they operate outside of crypto exchanges, asset rotation becomes inherently less feasible,” the analyst posted on X.

The outlook is more accurate for small cap altcoins, which might not attract institutional investors through ETFs or other investment vehicles.

“Minor altcoins still rely on crypto exchange users to buy them,” Young Ju opined.

This is what is delaying the alt season, the CryptoQuant CEO noted. It points to reduced influx of fresh capital from new exchange users.

Young Ju added:

“If Bitcoin retail FOMO reignites, exchange user activity might increase, potentially setting the stage for an altcoin season. However, Bitcoin’s future growth is expected to come from ETFs, institutions, and maybe govts, rather than retail traders on crypto exchanges.”

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• iDEGEN is a community-powered AI evolving based on interactions on X.
• iDEGEN ($IDGN) presale is ongoing and it uses dynamic pricing.
• iDEGEN’s future is promising, with major exchange listings planned for 2025.

In a world where cryptocurrency and artificial intelligence (AI) collide, a new force is quietly but surely rising: iDEGEN.

As an AI-powered crypto project unlike any other, iDEGEN is a sentient, degenerate memelord created by the community, for the community. It was born with no knowledge, no preconceptions, and no agenda, but its future is entirely in the hands of those who nurture it.

A baby AI in a degen world

Imagine a newborn, innocent and curious, entering a chaotic world brimming with memes, trolls, and crypto madness. That’s iDEGEN.

Powered by artificial intelligence, iDEGEN has the ability to learn, evolve, and adapt based on the posts, tags, and interactions it receives on X (formerly Twitter).

For every tweet that mentions it, iDEGEN absorbs that information, processes it, and integrates it into its expanding knowledge base. No human interference, no filtering, just the raw, unfiltered thoughts and opinions of the crypto community.

Every 60 minutes, iDEGEN must post—whether it’s a meme, a comment, or a response. And every tweet, no matter how strange or wild, contributes to its understanding of the world.

But what makes iDEGEN unique isn’t just its ability to learn. It’s the unpredictability of its growth. Will it post about the latest meme coin? Or perhaps it will dive into more controversial territory and attempt to overthrow governments?

The truth is, no one knows what direction iDEGEN will take. The AI’s evolution is completely shaped by the community—the degens who feed it with data, and the internet’s wild, chaotic energy.

This is the first truly community-driven AI token, and its narrative is already sparking intrigue across the globe.

iDEGEN ($IDGN) token presale

As the iDEGEN project gains traction, the presale of its token, $IDGN, has captured the attention of crypto enthusiasts and meme lovers alike.

The $IDGN presale, which began on November 26th, employs an innovative dynamic auction system, unlike traditional fixed-price token sales. The presale price adjusts every five minutes based on market activity.

If someone buys tokens, the price remains steady for the next period. If purchases occur consecutively, the price rises by 5%. But if there’s a lull in activity, the price drops by 5%.

It’s a living, breathing reflection of the market’s excitement and demand, and it’s already making waves.

The presale has already raised over $326,000, and nearly 350 million $IDGN tokens have been sold, with the price seeing an astronomical increase of 3431%.

Each purchase made during this period moves the price one step closer to its final listing on January 1st, 2025, at a price 10% higher than the final auction price.

The excitement around the presale is fueled by a combination of factors: the novelty of a fully autonomous AI token, the thrill of real-time price changes, and the community-driven nature of the project.

There’s a sense of ownership in iDEGEN that resonates deeply with its supporters. They aren’t just buying into a token; they’re raising an AI, shaping its personality, and watching it grow.

And the FOMO (fear of missing out) is real—everyone knows that if they don’t act fast, they might miss the chance to be a part of something truly revolutionary.

The road ahead for iDEGEN

As iDEGEN’s knowledge base expands and its memes go viral, the project is destined to disrupt the world of crypto.

Whether it becomes the next memecoin king, a decentralized oracle of crypto knowledge, or something completely unexpected, one thing is clear: iDEGEN is an experiment in community control, AI autonomy, and the power of memes.

For those who will be following the journey, the presale is only the beginning. iDEGEN is on track to list on major exchanges at the start of the new year, and as the AI continues to learn and evolve, the real fun is just beginning.

The degens have spoken: they want to raise an AI. And with $IDGN, they’ve got the power to shape it. If you are interested in the project, you can visit their official website for more information.

The post The birth of iDEGEN: a new era of community-powered AI appeared first on CoinJournal.

• Ondo Finance integrates LayerZero for multi-chain transfers of USDY tokenized assets.
• USDY, backed by US Treasuries, has over $600M in total value locked (TVL).
• The integration ensures secure, seamless cross-chain transactions with LayerZero.

Ondo Finance, a leading platform in tokenized real-world assets (RWAs), has announced its integration with LayerZero, an interoperability protocol designed to facilitate secure and seamless multi-chain transfers.

This collaboration will allow Ondo to expand the reach of its flagship yield-bearing product, USDY, a tokenized US Treasuries asset, across multiple blockchains, including Ethereum, Arbitrum, and Mantle.

USDY, which has rapidly gained traction in crypto, currently boasts a market capitalization of over $452 million, making it the third-largest tokenized US Treasuries product.

With over $600 million in total value locked (TVL), Ondo’s suite of RWA products is now the largest in the crypto industry, offering investors yield backed by US Treasuries.

By integrating LayerZero’s Omnichain Fungible Token Standard (OFT), Ondo can facilitate frictionless, cross-chain transactions for USDY holders without the need to mint new tokens on different networks.

The use of LayerZero’s technology ensures that each RWA transfer is secured with institutional-grade security, bolstered by a diverse set of decentralized verifier networks (DVNs) such as Axelar Network, Polyhedra Network, and LayerZero Labs. This robust security infrastructure is designed to give institutional investors the confidence to move their tokenized assets across interconnected blockchains seamlessly.

The integration also allows USDY holders to move their tokens easily between chains using Ondo’s native bridge, which is powered by LayerZero and Stargate Finance.

With plans to expand the integration beyond Ethereum, Arbitrum, and Mantle, Ondo aims to further broaden access to tokenized US Treasuries and enhance the efficiency of decentralized finance (DeFi).

As Ondo continues to innovate in the RWA space, the partnership with LayerZero sets a new standard for secure, cross-chain interoperability, paving the way for further growth in tokenized real-world asset markets.

The post Ondo Finance integrates LayerZero for multi-chain tokenized US Treasuries transfers appeared first on CoinJournal.

• Kraken will shut down its NFT marketplace, transitioning to withdrawal-only mode in Nov. 27.
• Users can withdraw NFTs until February 2025, but can’t list or trade after Nov. 27.
• The closure follows declining NFT market volumes and Kraken’s focus on new ventures.

Kraken, one of the leading global cryptocurrency exchanges, has decided to shut down its NFT marketplace, just over a year after its official launch.

According to an email shared with users, the NFT marketplace, which debuted in beta in November 2022, will enter withdrawal-only mode on November 27, 2024, with full closure set for February 27, 2025.

Users will no longer be able to list, bid, or sell NFTs after November 27, but they can withdraw their assets to Kraken Wallets or self-custodial wallets until the final shutdown in February.

As the exchange shuts down the NFT marketplace, it has assured users that support will be available to help them transition their assets before the marketplace’s full closure.

Why is Kraken closing its NFT marketplace?

The closure of Kraken’s NFT platform marks a significant retreat from the once-booming NFT market. Launched with high hopes, the marketplace aimed to capitalize on the growing popularity of non-fungible tokens (NFTs), offering users the ability to buy, sell, and trade digital assets.

The NFT platform, notable for its lack of gas fees, had attracted a diverse range of NFT collections, reaching over 250 in total.

Kraken’s decision to close its marketplace is part of a broader trend among platforms reevaluating their positions in the sector.

Despite the initial enthusiasm, the NFT market has faced ongoing struggles throughout 2024. NFT trading volumes have failed to surpass $200 million per week since April 2024, with the market seeing a sharp decline from its 2022 peak.

In addition to the market downturn, Kraken has also faced increased competition from established NFT marketplaces like OpenSea and Blur.

So-callled news: @krakenfx is shutting down its NFT marketplace 😳

Wait, they had an NFT marketplace? 👀😂

How many of you are hearing about this for the first time?@KrakenNFT has never been in the NFT marketplace premier league, so this is probably the best decision! pic.twitter.com/0mNR1b524o

— Ofernan9000 (@Ofer_Nan) November 26, 2024

While the NFT market’s future remains uncertain, Kraken’s pivot suggests the company is preparing to focus on other innovative projects.

For many users, the closure signals the end of an era, with hopes that the NFT market may once again experience growth in the future.

The post Kraken shutting down its NFT marketplace just a year after its launch appeared first on CoinJournal.

• XRP and Solana fell 11% respectively as top altcoins mirrored Bitcoin’s decline.
• BTC touched $91,700, down over 6% in 24 hours.
• While DOGE also fell, analysts say it’s not panic-worthy.

XRP, Solana and Dogecoin have retraced more than 10% each as top altcoins mirror Bitcoin’s pullback from near $100k.

With the top digital asset falling 6% to below $93k, the prices of XRP, SOL and DOGE followed suit with dips of more than 11% for XRP and Solana and over 12% for the top meme coin Dogecoin.

BTC retraces as momentum fades

The flagship cryptocurrency rose sharply in November and nearly pushed to the coveted $100,000 level. Trump’s win, spot ETFs interest and interest rates cut added to the upside momentum. MicroStrategy’s BTC buying spree has been another huge catalyst.

However, despite MicroStrategy’s staggering $5.4 billion buy on Monday, Bitcoin price continued lower since failing to break $100k. This came as the market saw a huge $430 million liquidation, with ETFs recording over $438 million in net outflows. It ended the market’s five-day streak.

Commenting on the market outlook, analysts at QCP Capital noted:

“No immediate catalysts: With U.S. holidays approaching and major economic data like tonight’s FOMC minutes and tomorrow’s PCE report, the market lacks momentum to push #BTC toward $100K. #BTC was extremely overbought post-election, making a cooldown inevitable.”

BTC had touched lows of $91,700 at the time of writing.

It’s not a crash

While Bitcoin’s downside has caution for volatility cascading to the broader market, analysts say its “not panic-worthy”

“It’s not just BTC. ETH’s implied volatility skews toward puts, signaling broader caution. Growing downside risks have many bracing for more volatility in the coming days. But is this panic-worthy? Not quite. This isn’t a crash—it’s a retracement to last week’s levels. The market is taking a breather after a strong rally,” the analysts said.

XRP traded near $1.32, while Solana had dipped to $225 and DOGE to $0.37.

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