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The hack underscores the vulnerabilities in blockchain networks, prompting exchanges to bolster security measures and customer trust initiatives.
The post Upbit discloses $37M hack on Solana network, pledges to cover customer losses appeared first on Crypto Briefing.

#cryptocurrency market news

What to Know: Most crypto wallets remain either centralized with failure points or overly technical, lacking mobile-friendly UX and meaningful user rewards or integrated benefits. Fragmented tooling forces users to juggle separate apps for swaps, staking, tracking and presales, creating friction that slows broader Web3 adoption. Best Wallet Token backs a non-custodial, multi-chain mobile wallet that integrates tracking, swaps, staking and curated presales within a single interface. By tying fee discounts, higher staking yields and presale access to $BEST, Best Wallet Token aims to turn the wallet into a full-stack Web3 opportunity hub. Crypto wallets are no longer just key-storage tools. As more users live on-chain (trading, staking, gaming and joining presales) the wallet has quietly become Web3’s most important interface. Yet most options still force you to juggle multiple apps, sacrifice control, or tolerate clunky UX that scares off newcomers. Centralized wallets can freeze accounts or become single points of failure. On the other hand, many non-custodial wallets feel designed only for power users, with confusing signing flows, limited or no presale access, and few real perks for loyal holders. You’re either giving up sovereignty or leaving obvious value on the table. Best Wallet is positioning itself as a direct answer to that gap: a non-custodial, multi-chain Web3 wallet that bundles tracking, staking, swaps and vetted presales into one mobile-first app. The thesis is simple: if the wallet is where you live, it should also be where you earn, discover and save on fees. The Best Wallet Token ($BEST) presale ends tomorrow, giving a final chance to buy at presale price before listings and heavier marketing kick in. With $17.65M already raised at $0.026005 per token, there’s already strong demand for a wallet that aims to capture 40% of the crypto wallet market share by the end of 2026. Learn more about what is Best Wallet Token. Best Wallet Bundles Web3 Into One Mobile-First Experience Best Wallet Token is backing a non-custodial, no-KYC wallet that aims to be the ‘home screen’ for your entire Web3 life. Instead of bouncing between a swap app, staking dashboard, portfolio tracker and presale platform, you manage everything inside a single, mobile-first interface designed for everyday users, not just DeFi natives. Under the hood, Best Wallet integrates Fireblocks MPC-CMP security, multi-wallet portfolios, and a DEX aggregator powered by Rubic that connects to 50+ chains, 200+ DEXs and 20 cross-chain bridges. For you, that translates to better pricing on swaps, broader asset coverage (60+ chains in the future), and fewer blind spots when moving capital across ecosystems. The standout feature is the Upcoming Tokens portal, which curates  the best crypto presales and streamlines presale participation. Instead of chasing links and worrying about fake sites, you can discover vetted opportunities directly inside the wallet and pay with assets you already hold. $BEST Price Potential & Whale Interest Signal Explosive Future On-chain signals are already flashing interest from larger players. Smart money is moving, with one whale buying $16K yesterday and another adding in $13.8K 5 days ago. That kind of conviction ahead of listings often reflects a longer-term view on utility, not just a quick flip narrative around launch. Our $BEST price prediction also estimates large gains in the future, with a 2026 prediction at $0.05106175/token. That’s a 96% from today’s price of $0.026005. The tokenomics also lean into long-term alignment. $BEST holders unlock reduced fees across the Best Wallet ecosystem, higher APY opportunities through the staking aggregator, and priority access to future presales inside the Upcoming Tokens portal. An 8% allocation, or 800M tokens, is reserved for staking rewards, with dynamic proportional yields and immediate staking available during presale. Best Wallet Token is trying to turn the wallet from passive infrastructure into your primary yield and access layer. By combining non-custodial security, multi-chain swaps, tracking, staking and curated presales in one app, it targets both crypto natives looking to consolidate tools and newcomers who want a simpler on-ramp with tangible perks. Here’s how to buy $BEST now. With the presale closing tomorrow and a current raise of $17.65M, the timing window is narrow for those looking to enter at the current valuation. If you believe the next wave of adoption will be won at the wallet layer, $BEST is positioned as a direct bet on that thesis. Join the $BEST presale before it ends tomorrow. This article is for informational purposes only and does not constitute financial, investment, or trading advice; always do your own research. Authored by Elena Bistreanu, NewsBTC – https://www.newsbtc.com/news/best-wallet-token-presale-ends-tomorrow-last-chance-before-listings

Ripple’s dollar-backed stablecoin secures a major regulatory win as Abu Dhabi allows licensed firms to use RLUSD inside its international financial center.

#ethereum #bitcoin #crypto #eth #btc #ether #whale #altcoin #altcoins #btcusd #ethusd

A prominent crypto trader has made a bold move back into Ethereum, stirring attention across digital markets. Reports have disclosed that the account known as “1011short” converted 10 million USDC into Hyperliquid before opening a long position with a five-fold leverage, controlling around $44.15 million in ETH. Related Reading: Bitcoin Faces More Downside After Recent Crash, Data Shows Whale Opens A Massive Ethereum Bet The trade uses 15,000 ETH at an entry price of $2,945, while current market levels sit near $2,896. That puts the position about $38,000 in the red for now. Based on reports, the liquidation point is $2,326, giving the trader a sizable margin to withstand market swings. With leverage in play, profits and losses are both magnified, making the move high-risk but potentially high-reward. Market Momentum Shows Mixed Signals Bitcoin has bounced back to $89,000, gaining 1.37% in the last 24 hours, though it still remains over 20% below last month’s highs. Some altcoins followed the trend upward. These gains helped trigger a wave of liquidations, catching many traders off guard. This #BitcoinOG(1011short) is back! He deposited 10M $USDC into #HyperLiquid 6 hours ago and opened a 5x long on 15,000 $ETH($44.15M)!https://t.co/f54Xo9g6vf pic.twitter.com/wfsyYm5JhS — Lookonchain (@lookonchain) November 25, 2025 Liquidations Surge As Prices Bounce In the last day, leveraged positions worth $337 million were liquidated, reports show. About 112,021 accounts were wiped out in total. The majority of liquidations came from short trades ($233 million), while the total for long trades was ($104 million). One of the largest orders liquidated was on Hyperliquid at $8.61 million BTC-USD. At the end of the day, Bitcoin and Ethereum made up the majority of the liquidations: about $119 million in BTC and about $73.34 million in ETH. This indicates the continued high levels of leverage employed in trades on both of the two largest digital currencies by market capitalization, despite large price fluctuations that have been observed recently. The larger the move in either direction, the more uncertain the trader will be with respect to the timing and extent of their exposure, and thus the potential for loss exists for both bears and bulls. Institutional Accumulation Continues Meanwhle, Nasdaq-listed BitMine Immersion Technologies expanded its ETH holdings last week by 69,822 coins, bringing its total to 3.63 million ETH — about 3% of circulating supply. The company also reported 192 BTC, $38 million in Worldcoin, and $800 million in cash. CryptoQuant data indicate unrealized losses of roughly $3.4 billion on its ETH treasury, reflecting market dips. Related Reading: Bitcoin’s Sudden Volatility Jump Signals Options Could Be Calling The Shots—Analyst A Clear Picture Of Caution And Opportunity Large wallets and corporate treasuries buying ETH suggest cautious optimism among big players. Recent rebounds did not go well for many short positions, showing that volatility can strike quickly. Traders will likely watch key levels closely, as moves near large whales’ entry and liquidation points can spark fresh swings. Featured image from Gemini, chart from TradingView

#crypto news #short news

Ark Invest founder Cathie Wood said liquidity tightening in AI and crypto sectors may reverse in the coming weeks, with markets seeming to anticipate this shift. Her firm has been buying dips in crypto-linked companies including Block , Coinbase , Robinhood , along with building exposure to Circle and Bullish. Wood remains optimistic, viewing AI’s growth as a …

#markets #news #bitcoin news #xrp news

Total XRP ETF assets crossed $628 million, absorbing nearly 80 million tokens in 24 hours, making for a stronger initial response than Solana’s ETF debut earlier this year.

#news #ripple (xrp)

Ripple, the leading financial technology company specialising in blockchain-based payment solutions, has scored one of its biggest wins of the year.  Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has officially approved Ripple’s USD-backed stablecoin RLUSD as a Fiat-Referenced Token for use within the Abu Dhabi Global Market (ADGM).  Ripple RLUSD Stablecoin Gains ADGM Approval According …

#ethereum #short news

Ethereum co-founder Vitalik Buterin donated 128 ETH (roughly $380,000 each) to Session and SimpleX Chat, encrypted messaging apps that prioritize permissionless accounts and metadata privacy. These platforms skip phone numbers and central servers to fight surveillance, like the EU’s Chat Control push. Buterin’s support spotlights the need for decentralized tools that truly protect user data …

#crypto #crypto market news #crypto news #cryptocurrency market news

Kevin Hassett, head of the White House National Economic Council, has suddenly become the market’s base case for the next Fed chair – and crypto investors are already gaming out what a “Hassett Fed” would mean. According to Bloomberg-sourced reporting, Hassett has “emerged as the frontrunner” for President Donald Trump’s choice to lead the Federal Reserve, seen as the candidate most aligned with Trump’s preference for lower interest rates. Earlier disclosures showed Hassett previously served as an adviser to Coinbase and holds at least $1 million in Coinbase stock. How Will Hassett Impact The Crypto Market? For crypto allocators, that combination of macro dovishness and direct exposure to a major US exchange is the core of the bull case. Bitwise senior investment strategist Juan Leon put it bluntly on X: “If Kevin Hassett becomes Fed Chair, the implications for crypto are strongly bullish.” He calls Hassett an “aggressive ‘dove’ who has publicly criticized current rates for being too high and advocated for deeper, faster cuts,” highlighting that he “served on Coinbase’s advisory board and owns large stake in COIN,” and that he “led the White House digital asset working group to shape pro-crypto regulation.” Related Reading: Crypto Has Entered Late-Cycle Territory, Says Global Liquidity Veteran But the potential Hassett regime cannot be separated from Treasury Secretary Scott Bessent’s emerging blueprint for the Fed. Bessent has been openly questioning the post-crisis operating framework. As Walter Bloomberg relayed from his CNBC appearance, “BESSENT ON FED: ‘AMPLE RESERVES REGIME’ MIGHT BE FRAYING.” Forward Guidance host Felix Jauvin summarized the direction of travel in a post: “Bessent wants a fed chair that gets us out of balance sheet shenanigans and simplifying things to how they were pre-ample regime. Dovish FFR, hawkish balance sheet.” He added: “I don’t know if I can emphasize enough just how far away we are from any sort of QE copium.” That framing matters for crypto. A Hassett Fed that cuts the policy rate faster in downturns is one thing; a return to full-blown quantitative easing is another. A “dovish FFR, hawkish balance sheet” mix would still be a friendlier macro environment than the post-2022 tightening cycle, but it is not a guaranteed repeat of the 2020–2021 liquidity wave that lifted every risk asset simultaneously. Rate cuts without large-scale asset purchases support risk appetite and lower discount rates, yet they do not automatically recreate the extreme “everything rally” conditions that many in crypto implicitly associate with Fed dovishness. The political logic behind Hassett’s rise has been described most clearly by macro commentator EndGame Macro (@onechancefreedm). In a thread, he argues that “Hassett isn’t leading because he’s the most academic or the most central bankerish. He’s leading because he checks the boxes Trump actually cares about.” Related Reading: Latest Crypto Crash Wipes $1 Billion Off Trump Family’s Wealth Trump, he writes, wants someone he already trusts, who has “spent years defending Trump publicly,” and who has been “openly critical of the Fed for being too slow, too cautious, and too political.” In that framework, “markets hear dovish. Trump hears I can deliver growth again. And crypto folks hear one of us.” Markets are starting to agree. On Polymarket, contracts tracking the Fed chair race show Hassett around 53% at press time, reinforcing that shift from speculation to probabilistic base case. Whether that translates into a genuine “explosion” in crypto will depend less on personalities than on the interaction of three forces: how aggressively a Hassett Fed actually cuts, how far Bessent is willing to go in shrinking or simplifying the balance sheet, and how markets reassess inflation, term premia and fiscal risk under a more overtly political central bank. The odds market is signaling that crypto is moving closer to the center of US monetary power. The scale of any move in 2026 will be determined by the cycle – and by how a Hassett-led Fed balances “dovish rates” with “hawkish balance sheet” in practice. At press time, the total crypto market cap stood at $2.96 trillion. Featured image created with DALL.E, chart from TradingView.com

#news #crypto etf

Grayscale has officially moved to bring privacy coins to Wall Street by launching the first spot Zcash ETF in the United States by converting its existing Zcash Trust. This is the same approach the company used with its Bitcoin Trust, which became the first U.S. Bitcoin spot ETF in 2024. Here are the key details …

#bitcoin #short news

Tom Lee, BitMine’s chair, has softened his Bitcoin year-end target of $250,000, describing a new all-time high in 2025 as uncertain. Despite this cautious view, he remains positive that Bitcoin will surpass $100,000 before the end of the year. Lee’s updated forecast reflects recent market uncertainties but highlights sustained institutional interest and strong fundamentals, keeping the …

#coins

South Korea’s largest crypto exchange halted services and shifted assets to cold storage after detecting unauthorized withdrawals.

Ethereum co-founder Vitalik Buterin has just donated over $760,000 in Ether to two projects he says are pushing digital privacy forward.

Australia has taken another step to introduce legislation that will subject crypto platforms to the same laws and licensing obligations as financial institutions.

#bitcoin #btc price #bitcoin price #btc #bitcoin news #btcusd #btcusdt #btc news #ted pillows #lennaert snyder

Bitcoin is sitting at a critical crossroads once again, hovering dangerously close to a liquidity pocket that could trigger deeper losses if bulls fail to respond. Momentum has slowed, volatility is tightening, and attention is now locked on one key level that could determine whether BTC stages a recovery or slips further into the trap below $82,000. Key Resistance at $89,000 Remains Bitcoin’s Biggest Hurdle Analyst Lennaert Snyder highlighted in a recent update that BTC is currently locked in a critical fight for the key $89,000 resistance level. He acknowledged the recent price action, noting that Bitcoin had a “nice bounce” from the support box he posted yesterday, advising those who longed for the bottom to “enjoy the gains. Related Reading: Bitcoin’s Sudden Volatility Jump Signals Options Could Be Calling The Shots—Analyst Snyder confirmed that the $86,000 support box is still valid, but stressed that this level should now only be used for reversals. A return to this support would be interpreted as a weak sign, indicating that buyers are struggling to maintain the current altitude. The primary objective remains to break the immediate overhead barrier. Lennaert Snyder states that Bitcoin still needs to decisively reclaim the $89,000 resistance to trigger a meaningful rally and long entries to the next target at $93,000. Given the ongoing struggle at resistance, the analyst confirms that it is “totally understandable” if traders are looking for local short entries. Losing the crucial $86,000 support level would confirm a structural breakdown, triggering shorts to the next major target at the $82,200 rangelow. Finally, Lennaert Snyder warned about the potential for a deeper move, stating that if the market goes for the lows again, it should be treated as a reversal opportunity only. He notes a high probability that sellers will sweep the $80,600 low to “tank new fuel.” Smart Risk First: Analyst Stresses Discipline Over Aggression According to crypto expert and investor Ted Pillows, the current Bitcoin setup is a moment that demands strict risk management. He emphasized that BTC continues to face heavy rejection around the $88,000 resistance level, making this zone a decisive barrier for further upside. Related Reading: Bitcoin Price Recovery Loses Strength, Traders Watch $90K as Last Line of Defense In response to the ongoing uncertainty, Ted noted that he has manually taken partial profits across all open trades. The move is meant to reduce exposure and protect capital until Bitcoin provides a clearer directional signal. With volatility tightening, he believes caution is the smarter play. Ted added that he intends to scale back into his positions only after Bitcoin successfully flips the resistance level into support and holds above the S/R zone. Featured image from Pngtree, chart from Tradingview.com

#markets #news

Technical analysis shows DOGE breaking above resistance with a significant volume surge, indicating bullish momentum.

#markets #news

Technical indicators suggest strong momentum, with XRP trading in an ascending broadening wedge and targeting further gains if it remains above key support levels.

Two new XRP ETFs absorbed 80 million tokens on launch as the price formed a bullish flag after hitting resistance at $2.20.

#dogecoin #doge #doge price #doge news #dogecoin news #dogecoin price #doge/btc #doge usd #doge/usdt

Dogecoin started a steady increase above $0.150 against the US Dollar. DOGE is now consolidating and might correct lower to $0.1480. DOGE price started a fresh increase above $0.1450 and $0.150. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a bullish trend line forming with support at $0.1490 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.1480. Dogecoin Price Holds Gains Dogecoin price started a fresh increase after it settled above $0.1420, like Bitcoin and Ethereum. DOGE climbed above the $0.150 resistance to enter a positive zone. The bulls were able to push the price above $0.1550. A high was formed at $0.1565 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high. Besides, there is a bullish trend line forming with support at $0.1490 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.150 level and the 100-hourly simple moving average. If there is another increase, immediate resistance on the upside is near the $0.1565 level. The first major resistance for the bulls could be near the $0.160 level. The next major resistance is near the $0.1620 level. A close above the $0.1620 resistance might send the price toward $0.1685. Any more gains might send the price toward $0.1740. The next major stop for the bulls might be $0.180. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1565 level, it could start a downside correction. Initial support on the downside is near the $0.1510 level. The next major support is near the $0.1480 level and the trend line. The main support sits at $0.1450 and the 50% Fib retracement level of the upward move from the $0.1330 swing low to the $0.1565 high. If there is a downside break below the $0.1450 support, the price could decline further. In the stated case, the price might slide toward the $0.1380 level or even $0.1330 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1510 and $0.1480. Major Resistance Levels – $0.1565 and $0.1600.

Bitcoin's 200-day trend has turned bearish, which could suggest the bull market is over, but some analysts don’t think we’re there yet.

#law and order

The new framework subjects exchanges and custody providers to financial services laws with ASIC as the primary regulator.

#crypto #dogecoin #doge #altcoins #memecoins #nyse arca

According to trading records and company filings, Grayscale’s new spot Dogecoin ETF — ticker GDOG — opened quietly, pulling in just $1.4 million in trading volume on its first day on NYSE Arca. Related Reading: Fear Surges, But Real XRP Holders Aren’t Shaken—Analyst Muted Debut On NYSE Arca Reports have disclosed that the debut fell well short of some public forecasts. Bloomberg analyst Eric Balchunas had suggested the fund might see roughly $10–12 million in opening-day volume, a target that the actual figures did not meet. That gap has drawn quick commentary from traders and analysts, who say the launch exposure was smaller than expected for a high-profile first spot product. Grayscale’s paperwork shows the ETF began life with holdings of about 11 million DOGE and roughly 94,700 shares outstanding, with assets under management reported at roughly $1.7 million at the time the fund started trading. The sponsor set a management fee of 0.35%, but that charge is being waived — the fund will carry a 0% expense ratio either until it reaches $1 billion in assets or for the first three months, whichever happens first. $GDOG (first Doge ETF) saw $1.4m volume on Day One.. solid for an avg launch but low for a ‘first-ever spot’ product. Not too surprising tho, we actually made a rhyme a while ago predicting this: ‘The further away you get from BTC, the less asset there will be.’ pic.twitter.com/ermlOcID1J — Eric Balchunas (@EricBalchunas) November 25, 2025 Market Shifts To Other Altcoins Based on reports from market trackers, other recent altcoin ETFs saw stronger early demand, leaving GDOG’s debut looking muted by comparison. Some XRP and Solana vehicles drew faster inflows during their openings, and that contrast has been used to explain why meme-coin exposure did not attract as much fresh cash on day one. Traders say that where money goes now may reflect a preference for certain tokens over meme-style names in regulated wrappers. What Investors Are Watching Next Observers note a few things to watch: whether the fee waiver helps the fund gather assets in the coming weeks, how DOGE’s market price behaves as more products list, and whether competing Dogecoin ETFs — including a product from Bitwise — change the flows. Related Reading: Bitcoin Creator Somehow Becomes ‘Poor’ By Losing $41 Billion Without Saying A Word Some analysts are watching short term creation and redemption activity and the order books around the ETF to judge real demand versus headline interest. Dogecoin’s spot market showed mild movement after the listing, trading near $0.15 as the ETF opened. That price action suggests traders reacted but did not rush in, and it leaves the question of long-term institutional appetite open. Based on the data so far, GDOG’s quiet first day is a clear signal that listing alone does not guarantee big capital flows. The next few weeks — when the fee waiver is still active and competing listings arrive — will be key to see whether the fund can widen its reach or remain a subdued debut in a busy ETF calendar. Featured image from Gemini, chart from TradingView

Bitcoin’s miner margins and NVT metric indicated a bottom range, but a final downside sweep remains possible.

#crypto #infrastructure #ai #web3 #asia #upbit #dunamu #naver #companies #crypto ecosystems #naver financial

Naver and Upbit plan to build a financial infrastructure that builds on top of AI and blockchain, according to multiple local reports.

#ripple #xrp #xrpusd #xrpusdt #xrpbtc

XRP price started a steady increase above $2.20. The price is now consolidating gains and might aim for another increase if it clears $2.280. XRP price started a fresh increase above the $2.220 zone. The price is now trading above $2.20 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2.180 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it clears $2.280. XRP Price Holds Ground XRP price started a decent upward move above $2.10 and $2.120, beating Bitcoin and Ethereum. The price gained pace for a clear move above the $2.20 resistance. The bulls even pumped the price above the $2.220 zone. A high was formed at $2.286 and the price started a short-term downside correction, but ETH and BTC rallied. There was a move below the 23.6% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The price is now trading above $2.20 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $2.180 on the hourly chart of the XRP/USD pair. If there is a fresh upward move, the price might face resistance near the $2.2650 level. The first major resistance is near the $2.280 level, above which the price could rise and test $2.350. A clear move above the $2.350 resistance might send the price toward the $2.450 resistance. Any more gains might send the price toward the $2.50 resistance. The next major hurdle for the bulls might be near $2.550. Another Pullback? If XRP fails to clear the $2.280 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.180 level and the trend line. The next major support is near the $2.120 level. If there is a downside break and a close below the $2.120 level, the price might continue to decline toward $2.050 and the 50% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The next major support sits near the $2.00 zone, below which the price could continue lower toward $1.9250. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.180 and $2.050. Major Resistance Levels – $2.280 and $2.350.

#security #exchanges #asia #upbit #companies #crypto ecosystems #upbit hack

Upbit identified 540 billion won worth of abnormal withdrawal of various assets on the Solana network from the platform.

#xrp #xrp price #xrp news #xrpusdt #xrp parallel channel #xrp rebound

A cryptocurrency analyst has pointed out how XRP has bounced off the bottom level of a Parallel Channel and could be headed toward its midway line. XRP Recently Found Support At The Lower Line Of A Parallel Channel In a new post on X, analyst Ali Martinez has discussed about a technical analysis (TA) pattern forming in the 3-day price of XRP. The pattern in question is a “Parallel Channel,” appearing whenever an asset’s price consolidates between two parallel trendlines. Related Reading: Capriole Founder Not Bearish On Bitcoin Despite Headwinds—Here’s Why The upper level of the channel provides resistance to the asset, making tops probable at it. Similarly, the lower line can facilitate bottom formations by acting as a source of support. A breakout of either of these bounds can imply a continuation of the trend in that direction. There are a few different types of Parallel Channels, but the one of interest here is the most basic version: a channel that’s parallel to the time-axis. This type corresponds to a phase of true sideways movement in the price. Now, here is the chart shared by Martinez that shows the Parallel Channel that the 3-day price of XRP has been stuck inside for the past year: As is visible in the above graph, XRP witnessed a failed breakout beyond the upper line of the Parallel Channel back in July. This kicked off a phase of downtrend for the cryptocurrency, which culminated in a retest of the channel’s lower line earlier in November. The coin has since observed a rebound, a potential sign that the support level of the Parallel Channel is holding up. The analyst thinks that the cryptocurrency may now be heading toward the midpoint of the pattern, located at $2.60. From the current price of the asset, a rally to this level would mean an increase of almost 20%. It now remains to be seen whether the coin’s surge will continue, or if it will retrace back to the support line again. Related Reading: XRP Jumps 7%, But Watch Out For Speculative Froth Something that could make the latter scenario more likely is profit-taking from the whales. As Martinez has highlighted in another X post, the large XRP holders carrying between 1 million and 10 million tokens participated in distribution during the asset’s latest recovery surge. As displayed in the chart, XRP whales reduced their supply by more than 180 million tokens (worth $391 million at the latest exchange rate) alongside its 17% price rally. This selloff was only a continuation of the trend from earlier in the month, and could be a potential sign that the sentiment among big-money traders hasn’t changed despite the rebound. XRP Price At the time of writing, XRP is floating around $2.17, down 1.5% over the last 24 hours. Featured image from Dall-E, Santiment.net, charts from TradingView.com

#markets #news #south korea #upbit

Upbit has suspended digital asset withdrawals after detecting irregular activity involving Solana network tokens.

Animoca Brands’ founder, Yat Siu, anticipates that the crypto industry will not have a one-winner “takes all” scenario like the internet era in the early 2000s.

#markets #bitcoin #token projects

Analysts said traders remain focused on macro signals, particularly on growing expectations for a December Fed rate cut.