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2024 Event Calendar: Highlights in the Market — From Halving to All-Time Highs
The crypto industry in 2024 turned out to be a real rollercoaster. The year began with the approval of spot Bitcoin ETFs, witnessed the sentencing of Binance founder Changpeng Zhao in the U.S. and his subsequent release, endured the Bitcoin halving, heard Trump's promises, and soared past $100,000 with BTC in Q4.
Throughout all of this, as always, the Incrypted editorial team closely followed the developments and promptly covered the industry's biggest news. We invite you to take another look at the journey we’ve traveled and move forward to new heights.
The crypto industry in 2024 turned out to be a real rollercoaster. The year began with the approval of spot Bitcoin ETFs, witnessed the sentencing of Binance founder Changpeng Zhao in the U.S. and his subsequent release, endured the Bitcoin halving, heard Trump's promises, and soared past $100,000 with BTC in Q4.
Throughout all of this, as always, the Incrypted editorial team closely followed the developments and promptly covered the industry's biggest news. We invite you to take another look at the journey we’ve traveled and move forward to new heights.
In the US, a Pastor-Scammer Exposed
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a pastor, accusing him of running a cryptocurrency Ponzi scheme. The pastor allegedly promised returns of up to 35% and misappropriated $5.9 million.
More than 1,500 people, including members of his church, were affected by his actions.
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a pastor, accusing him of running a cryptocurrency Ponzi scheme. The pastor allegedly promised returns of up to 35% and misappropriated $5.9 million.
More than 1,500 people, including members of his church, were affected by his actions.
At night, Bitcoin dropped to $90,500 on the Binance crypto exchange.
At the peak of the event, liquidations in the market exceeded $1 billion (source: Incrypted). Of this amount, over $810 million came from traders with long positions, marking a record high for the current year.
Currently, the leading cryptocurrency is trading around $98,000.
At the peak of the event, liquidations in the market exceeded $1 billion (source: Incrypted). Of this amount, over $810 million came from traders with long positions, marking a record high for the current year.
Currently, the leading cryptocurrency is trading around $98,000.
Ethereum has surpassed Tron for the first time since July 2022, becoming the largest blockchain for USDT stablecoin issuance.
The market capitalization of USDT has exceeded $133 billion, reaching a new all-time high. The asset's dominance in the stablecoin market stands at 70.10%.
The market capitalization of USDT has exceeded $133 billion, reaching a new all-time high. The asset's dominance in the stablecoin market stands at 70.10%.
27 Projects Raised Over $183 Million Over the Past Week
Between November 9 and 16, 2024, 27 projects attracted investments totaling $183.45 million. Leading among them is Zero Gravity Labs (0G Labs), which is developing a decentralized operational network with AI elements.
Between November 9 and 16, 2024, 27 projects attracted investments totaling $183.45 million. Leading among them is Zero Gravity Labs (0G Labs), which is developing a decentralized operational network with AI elements.
Stablecoin AUSD Launched on the Mantle Network
The Agora company has deployed the AUSD stablecoin on the Mantle Network blockchain (source).
According to the Mantle team, the integration brings a secure, institution-grade stablecoin to the ecosystem, fully backed by U.S. dollars, U.S. Treasury bills, and repo agreements.
"We are thrilled to work with the Mantle team and join this dynamic ecosystem. Mantle has an exceptional suite of financial and consumer applications, with many exciting announcements on the way. This is a forward-thinking team," said Agora CEO Nick van Eck.
The Agora company has deployed the AUSD stablecoin on the Mantle Network blockchain (source).
According to the Mantle team, the integration brings a secure, institution-grade stablecoin to the ecosystem, fully backed by U.S. dollars, U.S. Treasury bills, and repo agreements.
"We are thrilled to work with the Mantle team and join this dynamic ecosystem. Mantle has an exceptional suite of financial and consumer applications, with many exciting announcements on the way. This is a forward-thinking team," said Agora CEO Nick van Eck.
UPD: The Avalanche Foundation has bought back AVAX tokens worth $52 million from the Luna Foundation Guard.
These funds will be allocated to support grants, incubators, and events aimed at fostering community growth and technological development.
These funds will be allocated to support grants, incubators, and events aimed at fostering community growth and technological development.
Media: Polymarket May Be Banned in France
The French gambling regulator (ANJ) is planning to ban the crypto betting platform Polymarket in the near future, reports TheBigWhale.
The agency's attention was drawn to a French high-stakes player with the username Fredi9999, who reportedly earned about $48 million from betting on Trump’s victory. Previously, he was suspected of market manipulation; however, Polymarket conducted an investigation and stated that he is simply an individual who wanted to place bets.
The French gambling regulator (ANJ) is planning to ban the crypto betting platform Polymarket in the near future, reports TheBigWhale.
The agency's attention was drawn to a French high-stakes player with the username Fredi9999, who reportedly earned about $48 million from betting on Trump’s victory. Previously, he was suspected of market manipulation; however, Polymarket conducted an investigation and stated that he is simply an individual who wanted to place bets.
Media: Head of Curve Finance Buys a Mansion in Paris for €32 Million
Curve Finance CEO Mikhail Egorov has reportedly purchased (https://incrypted.com/smy-glava-curve-finance-kupyl-v-paryzhe-osobnjak-za-32-mln/ )a mansion in Paris valued at €32 million, according to French media.
The house consists of 23 rooms and has a total area exceeding 1,500 square meters.
The entrepreneur himself denies the purchase of a mansion in France. However, he confirmed owning two homes in Australia, with a combined value estimated at €55 million.
Curve Finance CEO Mikhail Egorov has reportedly purchased (https://incrypted.com/smy-glava-curve-finance-kupyl-v-paryzhe-osobnjak-za-32-mln/ )a mansion in Paris valued at €32 million, according to French media.
The house consists of 23 rooms and has a total area exceeding 1,500 square meters.
The entrepreneur himself denies the purchase of a mansion in France. However, he confirmed owning two homes in Australia, with a combined value estimated at €55 million.
Morning Market Overview
BTC ≈ $69,500 (-3.79%)
ETH ≈ $2,510 (-5.28%)
Market Cap ≈ $2.3T (-3.79%)
Fear and Greed Index: 59 (neutral)
Altseason Index: 29
BTC ≈ $69,500 (-3.79%)
ETH ≈ $2,510 (-5.28%)
Market Cap ≈ $2.3T (-3.79%)
Fear and Greed Index: 59 (neutral)
Altseason Index: 29
Microsoft to Consider Proposal on Bitcoin Investment
Microsoft has included a question about "investing in Bitcoin" in the agenda for its upcoming shareholder meeting scheduled for December 10, as detailed in a recent filing (source).
The Board of Directors recommends voting against the proposal, deeming it unnecessary and pointing to existing processes for evaluating cryptocurrencies.
Microsoft has included a question about "investing in Bitcoin" in the agenda for its upcoming shareholder meeting scheduled for December 10, as detailed in a recent filing (source).
The Board of Directors recommends voting against the proposal, deeming it unnecessary and pointing to existing processes for evaluating cryptocurrencies.
The U.S. Government Had $20 Million Stolen from Seized Crypto Assets
Crypto analyst ZachXBT reports (https://t.me/investigations/172 )a potential hack of wallets linked to the U.S. government—around $20 million in USDC, USDT, aUSDC, and ETH, seized from Bitfinex hackers, were transferred to the attacker’s wallet.
According to Arkham (https://x.com/ArkhamIntel/status/1849537146861859120) ,the funds were transferred to the wallet 0x348, from which the cryptocurrency has already started to be sold and moved to suspicious accounts.
Crypto analyst ZachXBT reports (https://t.me/investigations/172 )a potential hack of wallets linked to the U.S. government—around $20 million in USDC, USDT, aUSDC, and ETH, seized from Bitfinex hackers, were transferred to the attacker’s wallet.
According to Arkham (https://x.com/ArkhamIntel/status/1849537146861859120) ,the funds were transferred to the wallet 0x348, from which the cryptocurrency has already started to be sold and moved to suspicious accounts.
Main Events of This Week
We present a calendar of the most important crypto and economic events of this week.
We present a calendar of the most important crypto and economic events of this week.
Scroll was listed on Binance's pre-market.
Since the listing, the token has been trading (https://www.binance.com/en/trade/SCR_USDT?type=spot )mostly in the range of $1.05 to $1.20. At the time of writing, the asset is valued at approximately $1.15, with a market capitalization of $1.15 billion.
As a reminder, we previously made a video (https://www.youtube.com/watch?v=K1Q3x2x81yA )covering activities within the project.
Since the listing, the token has been trading (https://www.binance.com/en/trade/SCR_USDT?type=spot )mostly in the range of $1.05 to $1.20. At the time of writing, the asset is valued at approximately $1.15, with a market capitalization of $1.15 billion.
As a reminder, we previously made a video (https://www.youtube.com/watch?v=K1Q3x2x81yA )covering activities within the project.
Vitalik Buterin received $762,000 worth of the MOODENG memecoin, sold them, and then donated part of the sum ($642,000) to the Kanro charity organization, which fights airborne diseases.
Buterin thanked the project's team and stated that he will continue to handle all memecoins sent to him in the same way in the future.
Following the news, the token's value increased by 16.6%.
Buterin thanked the project's team and stated that he will continue to handle all memecoins sent to him in the same way in the future.
Following the news, the token's value increased by 16.6%.
Multicoin: The Crypto Market is Experiencing a "Hangover"
Managing partner of Multicoin Capital, Tushar Jain, stated that the cryptocurrency market is going through a "hangover" after an excess of venture capital during the previous bull market (https://www.theblock.co/post/319101/crypto-faces-hangover-from-venture-capital-glut-during-previous-bull-market-multicoins-tushar-jain).
"I still fundamentally believe in the core principles underlying the industry. We've been through similar cycles before," Jain emphasized.
Managing partner of Multicoin Capital, Tushar Jain, stated that the cryptocurrency market is going through a "hangover" after an excess of venture capital during the previous bull market (https://www.theblock.co/post/319101/crypto-faces-hangover-from-venture-capital-glut-during-previous-bull-market-multicoins-tushar-jain).
"I still fundamentally believe in the core principles underlying the industry. We've been through similar cycles before," Jain emphasized.
Morning Market Update
BTC ≈$65,900 (+1.06%)
ETH ≈$2,690 (+1.51%)
Market capitalization ≈$2.3T (+0.93%)
Fear and Greed Index: 64 (Greed)
Altseason Index: 37
More details in the infographic.
BTC ≈$65,900 (+1.06%)
ETH ≈$2,690 (+1.51%)
Market capitalization ≈$2.3T (+0.93%)
Fear and Greed Index: 64 (Greed)
Altseason Index: 37
More details in the infographic.
The SEC has postponed (https://incrypted.com/sec-otlozhila-reshenie-po-opcionam-na-spotovye-ethereum-etf-kompanii-blackrock/ )the decision on the applications for launching options on spot Ethereum ETFs from BlackRock and Bitwise to November 10 and 11, respectively.
Morning Market Update
- BTC ≈$63,000 (+0.15%)
- ETH ≈$2,590 (+1.78%)
- Market capitalization ≈$2.2T (+0.56%)
- Fear & Greed Index: 52 (neutral)
- Altseason Index: 35
More details in the infographic.
- BTC ≈$63,000 (+0.15%)
- ETH ≈$2,590 (+1.78%)
- Market capitalization ≈$2.2T (+0.56%)
- Fear & Greed Index: 52 (neutral)
- Altseason Index: 35
More details in the infographic.
ETH/BTC Exchange Rate Drops to 2021 Lows
According to Binance, the ETH/BTC exchange rate has fallen below the 0.04 mark, hitting a new low not seen since April 2021.
The all-time high (ATH) for this pair was recorded in January 2018 at 0.1238, while the historical low was in September 2019 at 0.01615.
According to Binance, the ETH/BTC exchange rate has fallen below the 0.04 mark, hitting a new low not seen since April 2021.
The all-time high (ATH) for this pair was recorded in January 2018 at 0.1238, while the historical low was in September 2019 at 0.01615.
33 projects attracted nearly $223 million in investments over the past week
Link to the article
From September 7 to 14, 2024, 33 projects attracted a total of $222.85 million in investments. The largest capital inflows went to the platforms TuneFM and SDAX.
We provide a detailed breakdown of the investments over the past week in our digest. Read more here. Enjoy the reading!
Link to the article
From September 7 to 14, 2024, 33 projects attracted a total of $222.85 million in investments. The largest capital inflows went to the platforms TuneFM and SDAX.
We provide a detailed breakdown of the investments over the past week in our digest. Read more here. Enjoy the reading!
For the first time in nine days, spot Bitcoin ETFs in the U.S. saw an influx of capital
On September 9, 2024, spot Bitcoin ETFs in the U.S. recorded an influx of funds for the first time in nine trading days. These funds received $28.72 million, according to SoSo Value.
A negative trend is observed in two products, while six funds neither saw inflows nor outflows, and four ETFs managed to attract capital.
On September 9, 2024, spot Bitcoin ETFs in the U.S. recorded an influx of funds for the first time in nine trading days. These funds received $28.72 million, according to SoSo Value.
A negative trend is observed in two products, while six funds neither saw inflows nor outflows, and four ETFs managed to attract capital.
For 25% of U.S. Investors, Cryptocurrencies Are a Key Asset
According to a study by Clarify Capital (https://clarifycapital.com/redefining-the-american-dream) ,which surveyed 1,000 people, one in four Americans considers cryptocurrencies a key asset in their investment portfolio.
Other key findings from the survey:
- Americans need an average annual income of $110,000 to live comfortably.
- 70% believe inflation is preventing them from achieving their dream life.
- 40% think they will never be able to achieve their dream life.
- Members of Generation Z (roughly ages 12-30) are 40% more confident in reaching their dream life compared to Generation X (roughly ages 40-60).
According to a study by Clarify Capital (https://clarifycapital.com/redefining-the-american-dream) ,which surveyed 1,000 people, one in four Americans considers cryptocurrencies a key asset in their investment portfolio.
Other key findings from the survey:
- Americans need an average annual income of $110,000 to live comfortably.
- 70% believe inflation is preventing them from achieving their dream life.
- 40% think they will never be able to achieve their dream life.
- Members of Generation Z (roughly ages 12-30) are 40% more confident in reaching their dream life compared to Generation X (roughly ages 40-60).
Bitcoin miners' revenue hits a yearly low
In August, Bitcoin miners recorded the lowest monthly revenue since September 2023, mining 13,843 BTC with an estimated value of $800 million.
The decline in revenue can be attributed to a decrease in transaction volume, increased mining difficulty, and the halving event in April.
In August, Bitcoin miners recorded the lowest monthly revenue since September 2023, mining 13,843 BTC with an estimated value of $800 million.
The decline in revenue can be attributed to a decrease in transaction volume, increased mining difficulty, and the halving event in April.