Top Crypto News: Solana Hits $225, PEPE Cand Bitcoin Reach New All-Time Highs

November 15, 2024

Crypto World

Maciej Zerelik

Stay up to date with the latest buzz in crypto! Each week, StealthEX and CryptoDaily deliver the hottest stories you need to know. Curious about what’s trending? We’ve got you covered with a simple, easy-to-follow update. No fluff, just the key highlights that matter most. Keep yourself informed and ahead of the curve with our weekly crypto roundup Let’s dive in!

Crypto Set to Revolutionize Online Gaming by 2025

The gaming world has embraced cryptocurrency like no other industry. A decade ago, the idea of placing bets with crypto seemed far-fetched. Now, crypto accounts for nearly 10% of sports wagers—a figure that shows no signs of slowing down.

By 2025, digital currency is predicted to play an even larger role in online gaming. Both investors and gamers should pay attention to the factors driving this change. For many, the appeal lies in the unique advantages that crypto offers.

Players flock to crypto-based casinos for several reasons. They can enjoy a wide range of games while maintaining their anonymity. Fast transaction speeds, especially with tokens like Litecoin or XRP, are another major draw. Crypto’s volatility adds an extra layer of excitement—winning or losing a bet could be just the beginning if the asset’s value spikes.

The gaming industry’s growth supports this trend. By 2025, the iGaming sector is expected to top $100 billion, with crypto contributing significantly. Rising prices for Bitcoin and Ether, paired with pro-crypto regulations in markets like the U.S., are attracting new users. Privacy-focused tokens like Monero are gaining traction, while the resurgence of NFTs adds even more value to the mix.

With these developments, cryptocurrency is on track to dominate online gaming in the near future.

Pepe Coin Surges After Coinbase and Robinhood Listings

Pepe Coin has skyrocketed to a record high of $0.00001979, riding the wave of its recent Coinbase and Robinhood listings. The coin’s market capitalization surged by over 50% on Wednesday, briefly exceeding $8.2 billion before a slight pullback.

These high-profile listings have amplified the ongoing crypto bull market, prompting analysts to urge investors to revise their price targets for meme coins. Pepe’s rally is also inspiring gains across the meme coin sector. Apu Apustaja jumped by 24%, while Pepe Unchained, a presale token, has attracted significant whale investments, pushing its valuation past $28 million.

Pepe now stands among the few meme coins listed on both Binance and Coinbase, an elite status that’s fueling its momentum. The Coinbase announcement, delivered personally by Chief Legal Officer Paul Grewal, created buzz across social media. However, Robinhood’s inclusion of Pepe could prove even more influential, thanks to its vast user base of over 24 million traditional finance investors. Robinhood’s listing also reinstated tokens like Solana, XRP, and Cardano, signaling renewed optimism in the crypto space.

Top crypto traders remain highly bullish on Pepe, with some predicting its market cap could surpass $50 billion during this cycle. The broader crypto market is also surging, with Bitcoin reaching an all-time high of $93,000, further fueling enthusiasm for meme coins like Pepe.

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Solana Memecoins Skyrocket After Binance Listings

Two Solana-based memecoins, ACT I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), have captured the crypto world’s attention with explosive gains following their Binance spot trading debut. Meanwhile, Dogecoin (DOGE) continues its meteoric rise, bolstered by recent political and social developments.

Binance’s decision to list ACT and PNUT triggered what many are calling the “Binance Effect.” ACT has surged by an astonishing 2,220% over the past week, while PNUT soared 1,637%. Both coins are benefiting from the broader crypto rally and the post-election market surge, with Bitcoin (BTC) reaching a record-breaking $93,434.

PNUT’s rise has been fueled by a viral backstory involving a pet squirrel named Peanut, whose untimely death sparked outrage and sympathy across social media. Tech icon Elon Musk referenced the incident on X, igniting interest in the coin. PNUT’s value shot up 270% in a single day, propelling it into the top 100 altcoins by market cap.

ACT, on the other hand, offers a more futuristic narrative. The token powers a decentralized platform where multiple AI systems collaborate to enhance user interactions. After its Binance listing, ACT soared over 2,100% in just days, trading at $0.618.

El Salvador’s Bitcoin Gamble Pays Off with Over $525 Million in Profits

El Salvador’s decision to embrace Bitcoin as legal tender in 2021 is proving highly lucrative. The country has now generated profits exceeding $525 million from its Bitcoin holdings.

This surge has driven the total value of El Salvador’s Bitcoin portfolio to over $508 million, with an impressive gain of nearly $140 million. The move, led by President Nayib Bukele, faced early criticism but now showcases the potential of state-backed cryptocurrency investments. Bitcoin’s 27% climb this past week alone underscores the strategy’s success, marking a 101.5% increase in value for El Salvador’s holdings.

El Salvador became the first nation to adopt Bitcoin as legal tender in September 2021. President Bukele pushed this initiative to modernize the economy and attract global investment, despite warnings about the risks of Bitcoin’s volatility. Today, the financial gains validate the bold decision, silencing many skeptics. Bukele shared his satisfaction on social media with a simple, “I told you so.”

The country has also harnessed its geothermal energy from volcanoes to mine Bitcoin sustainably, branding its innovative cryptocurrency bonds as “volcano bonds.” These efforts align with broader goals of economic growth and environmental responsibility.

MicroStrategy’s Bitcoin Strategy Propels Stock to 24-Year High

MicroStrategy Inc., led by Michael Saylor, has made waves with its largest Bitcoin purchase to date, acquiring 27,200 BTC worth approximately $2.03 billion. This bold move has pushed the company’s stock to its highest level in 24 years, reinforcing its position as a leading corporate advocate for cryptocurrency.

This acquisition cements MicroStrategy as one of the biggest corporate holders of Bitcoin. Since adopting a Bitcoin-focused strategy in 2020, the company has consistently added to its reserves. With this latest purchase, the total value of its Bitcoin holdings now exceeds $24 billion, highlighting the firm’s unwavering confidence in digital assets.

The market responded swiftly to the announcement. MicroStrategy’s stock (MSTR) surged 23.7% on Monday, closing at levels unseen since March 2000. This dramatic rise aligns with a broader surge in cryptocurrency interest, fueled by policies that support crypto adoption in the U.S. financial system.

MicroStrategy’s stock performance has closely followed Bitcoin’s price trends, underscoring the company’s reliance on its crypto-centric strategy. By doubling down on its Bitcoin holdings, MicroStrategy continues to set the standard for corporate involvement in the cryptocurrency market, with its long-term bet yielding impressive results.

Brevis Secures Seed Funding to Revolutionize Blockchain Scalability

Brevis, a project focused on verifiable computing, has announced the successful close of its seed funding round, led by Polychain Capital and Binance Labs. The round also attracted investments from IOSG, Nomad Capital, Bankless Ventures, Hashkey, and notable angel investors.

Polychain Capital praised Brevis’s innovative approach to off-chain computation, emphasizing its potential to transform blockchain scalability. Using zero-knowledge (ZK) proofs, Brevis enables complex, data-driven computations to be executed off-chain while maintaining security and trustless verification. This breakthrough could unlock new possibilities for decentralized applications (DApps) and blockchain developers.

Brevis aims to provide infinite scalability to existing blockchains without fragmenting state or liquidity. Its platform allows DApps to offload intensive computations off-chain at a low cost while preserving their decentralized and trustless nature. By leveraging ZK proofs, on-chain smart contracts can verify these computations without sacrificing security.

The protocol introduces a zero-knowledge coprocessor, enabling smart contracts to access and process historical on-chain data such as transactions, events, and states. Brevis’s software development kit simplifies the deployment of computation-heavy DApps, eliminating the need for deep expertise in zero-knowledge cryptography.

Brevis has already partnered with projects like Kwenta, JoJo Exchange, and Trusta, along with others such as PancakeSwap, Gamma, and Tokemak, all leveraging its cutting-edge technology. Binance Labs investment director Andy Chang highlighted Brevis’s ability to expand blockchain capabilities without adding trust requirements, positioning it as a key innovator in the blockchain space.

California Permanently Revokes BlockFi’s License After Bankruptcy

BlockFi, the bankrupt cryptocurrency lender, has had its lending license permanently revoked by California’s Department of Financial Protection and Innovation (DFPI). The decision, announced on November 7, concludes a two-year investigation into the company’s regulatory violations, focusing on consumer protection over penalties.

The DFPI found that BlockFi violated multiple state lending laws, including failing to assess borrowers’ repayment capacity, charging interest before disbursing loans, and neglecting to offer credit counseling. Additionally, the company did not report payment performance to credit bureaus or provide accurate annual percentage rate disclosures in its loan agreements.

DFPI Commissioner Clothilde Hewlett underscored the importance of compliance for financial firms operating in California, stating, “While we encourage innovation in our financial marketplace, companies must comply with laws and protect consumers.”

BlockFi’s settlement with the DFPI includes the permanent revocation of its license and a fine of $175,000 for violating California’s Financial Lending laws. However, given BlockFi’s bankruptcy, the fine was waived to prioritize consumer recovery.

BlockFi ceased operations earlier this year, leaving customers without access to their accounts. 

Sui Foundation Partners with Trace to Revolutionize Sports Fandom with Blockchain

The Sui Foundation, dedicated to advancing the Layer 1 blockchain, has announced a groundbreaking partnership with Trace, a tech startup focused on credentializing sports fandom. This collaboration positions Sui as a technology partner for Trace, highlighting its role in unlocking new opportunities in sports and entertainment through blockchain.

Trace is redefining fan engagement with “Traces,” digital memorabilia that capture iconic moments in sports. Fans can claim these blockchain-based collectibles to showcase their loyalty, while sports organizations and sponsors gain deeper insights into and connections with their audience.

This month, Trace debuts its partnership with the ATP Tour through the Momentum collection, offering tennis fans exclusive digital memorabilia for each of the 15 singles matches at the Nitto ATP Finals. Featuring players like Carlos Alcaraz and Jannik Sinner, the collection lets fans, whether in the stands or watching remotely, commemorate their experience using Sui-powered assets.

Trace CEO Tareq Nazlawy emphasized the significance of Sui’s blockchain technology, calling it fast, scalable, and innovative. He likened the partnership to “teaming up with the Avengers” thanks to the ecosystem’s energy and creativity. With features like native zkLogin for seamless user onboarding and Kiosk for developer control, Trace is leveraging Sui’s architecture to build engaging fan experiences.

Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, praised the collaboration as a milestone for Web3 integration in sports. He noted the ATP’s forward-thinking approach to technology, which aligns perfectly with Trace’s mission to enhance fan relationships and scale engagement globally.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.