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In today’s crypto news, several key developments highlight the ongoing changes and opportunities within the cryptocurrency landscape. Here’s a closer look at the latest significant events in the market.
Crypto Market Update
The global cryptocurrency market has experienced a healthy uptick, with the total market capitalization climbing by 2.7% in the past 24 hours, now valued at $3.45 trillion. Over the same period, the total trading volume across all cryptocurrencies reached $314 billion.
Amidst this fluctuation, only seven of the top 100 cryptocurrencies have reported price declines. Notably, Bitcoin SV (BSV) saw the steepest drop, plummeting by 11.7% to $68.34. Other notable losers include Peanut the Squirrel (PNUT), down by 7%, and Bitcoin Cash (BCH), which fell by 6.7%. Other cryptocurrencies on the decline experienced smaller losses, generally around 2% or less.
Conversely, the day’s biggest winners are three cryptocurrencies that surged over 20%. Leading the pack is XRP, which recorded a remarkable 25% increase, bringing its price to $1.38. Mog Coin (MOG) and Optimism (OP) also enjoyed impressive gains of 24% and 21%, respectively. Additionally, twelve other cryptocurrencies showed double-digit increases.
Interestingly, the top 10 cryptocurrencies remained resilient, with no price drops recorded within this bracket. Ethereum (ETH) saw a 7.65% rise to $3,378, while Bitcoin (BTC) increased modestly by 2%, now priced at $99,137. Other market developments include a noteworthy $1 billion in net inflows into spot Bitcoin exchange-traded funds (ETFs) on November 21. This influx is attributed to the recent launch of options trading for these funds.
Alongside these investment trends, financial services company Charles Schwab announced plans to offer its clients direct access to cryptocurrency investments, indicating a further mainstreaming of digital assets. Meanwhile, MicroStrategy successfully completed an offering of 0% convertible senior notes due in 2029, raising $3 billion to acquire additional Bitcoin.
Bitfinex Introduces Express Onboarding for Salvadoran Residents
In a move aimed at increasing accessibility, Bitfinex Securities El Salvador has rolled out express onboarding for residents of El Salvador. This regulated platform, which allows entities to raise capital via tokenized securities, simplifies the account opening process for Salvadoran citizens. Users now only need an official photo ID, a tax ID number, a biometric photo, a residential address, and a contact number to open their accounts.
This initiative aligns with KYC regulatory requirements and opens up trading and capital raising opportunities for local investors. Jesse Knutson, Head of Operations at Bitfinex Securities, emphasized that democratizing investment access is one of the core advantages of moving capital markets on-chain. The company has plans for innovative projects in the Salvadoran market, aiming to harness the robust regulatory framework established in the country.
Genesis Parent Company DCG Launches New Subsidiary Yuma
Digital Currency Group (DCG), the parent company of the bankrupt crypto lender Genesis, has announced the establishment of Yuma, a new subsidiary focused on fostering development on Bittensor, a decentralized network that allows users to collaborate on AI projects. Yuma aims to provide the necessary capital, infrastructure, and resources for both startups and larger enterprises to innovate within this ecosystem.
Barry Silbert, DCG’s founder and CEO, will also serve as the CEO of Yuma. He expressed strong confidence in the convergence of cryptocurrency and AI, stating that the decentralized AI sector represents a significant growth opportunity alongside broader advancements in the AI field. Yuma’s activities will include building subnets, validating contributions, and participating actively across the Bittensor network.
The structure of Bittensor allows community contributions to be effectively measured and rewarded using the native token, TAO. This initiative reflects DCG’s commitment to exploring the intersection of artificial intelligence and blockchain technology.
BingX Launches Spot Innovation Zone
In a further evolution of its trading offerings, BingX has introduced a new Spot Innovation Zone designed specifically for trading trending and emerging tokens within the cryptocurrency market. This initiative aims to provide users with access to high-potential projects while ensuring a fast, secure, and efficient trading environment.
The Innovation Zone supports rapid token listings and is underpinned by a professional research team available around the clock, which enables timely access to opportunities. Enhanced features include high-speed transactions with minimal slippage and a dedicated market team focused on transaction stability and efficiency. This launch comes on the heels of a positive market shift and highlights the growing interest in innovative and meme-driven tokens.
As the cryptocurrency landscape continues to evolve, these developments illustrate the increasing accessibility, innovation, and investment opportunities emerging within the space.
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