1. Bitcoin Pin Up and Down! Ethereum broke through 1900 and reached a new three-month high, with XRP strongly increasing by 10%Over the past weekend, Bitcoin (BTC) mostly fluctuated narrowly between $34000 and $35000
1. Bitcoin Pin Up and Down! Ethereum broke through 1900 and reached a new three-month high, with XRP strongly increasing by 10%
Over the past weekend, Bitcoin (BTC) mostly fluctuated narrowly between $34000 and $35000. However, on the morning of the 6th, Bitcoin prices briefly fell to $34448, but then quickly rebounded to the highest level of $35380, expanding the range of price fluctuations.
At the time of writing, Bitcoin was quoted at $34950, an increase of 0.04% compared to the past 24 hours.
Meanwhile, the trend of Ethereum (ETH) is once again roughly consistent with Bitcoin, but overall it is more robust. At around 1:00 on the 6th, Ethereum prices rose by $1912, setting a new high in over three months.
At the time of writing, the price of Ethereum was $1894, which has increased by 2.4% in the past 24 hours.
In addition, the ETH/BTC range has been rebounding. After several days of fluctuation at the 0.05 level, the range has shown a quite strong rebound peak since last Friday, and has temporarily rebounded to above 0.054, currently at 0.05409.
2. MEME's listing on the exchange has increased by 23 times! Coin An Launches Seed Tag to Replace Innovation Zone
Memeland, the NFT project launched by the meme platform 9GAG, announced the launch of MEME tokens, which were launched on multiple exchanges at 4pm on the 3rd. The MEME token then quickly rose to a level close to $0.1, although it slightly dropped to $0.0235 before the deadline, it still represents an increase of approximately 23 times the pre-sale price of $0.001.
In addition, according to Coinsecko data, the trading activity of MEME tokens has continued to grow, with a 24-hour trading volume of $228 million. The world's largest cryptocurrency exchange, Coin An, has also attached a "seed label" to MEME tokens and announced the recent change of all new currencies to seed labels.
3. Charlie Munger: Bitcoin is a gas bomb in the financial system, a disaster invention with no productivity
Charlie Munger, the deputy chairman of Berkshire Hathaway, the stock market legend Warren Buffett, has always been known for his aversion to cryptocurrencies and his outspoken vigilance. Not long ago, he publicly criticized the purchase of cryptocurrencies. However, in a recent interview with The Wall Street Journal, Charlie Munger once again sharply criticized Bitcoin and other cryptocurrencies.
Charlie Munger: Cryptocurrency is a disruptive and unproductive invention
Charlie Munger, now 99 years old, has been firmly opposed to cryptocurrencies and believes that they are a destructive and useless financial innovation. He likened the introduction of Bitcoin to throwing a "bomb" into the traditional financial system, which had a negative impact on it.
4. Musk: My company doesn't even know how to issue coins! But the xAI coin of the same name still surged by 433%
Elon Musk, CEO of Tesla and founder of social media platform X (formerly Twitter), officially founded an artificial intelligence startup called "xAI" in July of this year., On November 3rd, he announced that xAI would launch its first artificial intelligence product to specific user groups that day, boasting that "xAI is the most powerful in certain key areas today". This declaration is interpreted as a challenge to competitors OpenAI's ChatGPT and Google Bard.
XAI's Meme coin with the same name skyrocketed by 433%
Due to the AI model of xAI entering the testing stage, the Meme coin XAICorp (XAI) with the same name surged by 433% in the three hours on November 3rd, with prices soaring from $0.0012 to $0.0064, showing an astonishing upward trend. However, the price had dropped significantly before the deadline, and the current quote is $0.0013.
5. Coinbase bears have a blood loss of $2.2 billion this year! Ark has cumulatively increased its holdings of nearly 150000 COIN shares this month
Coinbase, the largest cryptocurrency exchange in the United States, released its third quarter financial report on Wednesday, with total revenue reaching $674 million, a 5% increase from the previous quarter, but exceeding market expectations, causing its stock price to rise 8.73%. Coinbase's stock price has surged by over 155% since the beginning of this year.
However, this strong uptrend puts continuous pressure on Coinbase's short sellers. According to data from S3 Partners, investors in short seller Coinbase have lost $210 million in just the past 30 days, and this year's cumulative loss has reached as high as $2.2 billion. Therefore, although some short sellers are still not intimidated, 13% of Coinbase tradable stocks are currently short sold.
Mizuho analysts stated in a report that Coinbase's latest financial report shows that the company's fundamentals continue to deteriorate. In the third quarter, retail transaction volume decreased to approximately $11 billion, and institutional transaction volume also decreased. At the same time, Coinbase will increase the transaction fees it charges retail investors from 2.21% to approximately 2.5%.
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