- November 24, 2024
- Category: Crypto
In the latest issue of Weekly Crypto Digest from Yellow Capital you can read about new All-Time High for Bitcoin and Solana, Gensler leaves SEC, MicroStrategy bought more BTC, Logan Paul Accused of Pump and Dump, and more news.
New All-Time High: Bitcoin Above $99,000
On November 22, the quotes of the first cryptocurrency rose above the $99,000 mark. The breakout of the psychologically important $100,000 level was very close.
A correction followed, and the price was rolled back to the $96,000 region.
Similar price movements were demonstrated by the largest altcoins by capitalization. At the same time, some of the cryptocurrencies demonstrated much more impressive growth compared to BTC. Cardano (ADA) quotes added about 31% in seven days, XRP rose by 21.5%, and Stellar (XLM) by 133%.
Gary Gensler Leaves SEC
On January 20, 2025, one of the most disliked officials in the crypto community, Gary Gensler, will leave the post of head of the SEC.
Gensler’s term was supposed to last until 2026. The official is leaving his post amid a change in the presidential administration in the United States, and the date of his official resignation coincides with the inauguration day of Donald Trump, who promised to fire the head of the SEC during the election campaign.
Gensler, the 33rd chairman of the US Securities and Exchange Commission, took up this position in April 2021 as one of the candidates from Joe Biden’s team.
Before his appointment, he headed the CFTC and participated in a number of projects related to financial reforms during the Barack Obama administration. During this period, the official was remembered for his tough approach to regulation.
In his three years as head of the SEC, Gensler has become one of the most disliked politicians in the crypto community.
Crypto Market Fear and Greed Index Sets Highest Since February 2021
On November 22, 2024, the fear and greed index reached a value of 94 basis points, indicating “extreme greed” among traders. The indicator has grown by 12 points over the past 24 hours, by 12 points over the week, and by 23 points over the month. A month ago, it was 70 basis points, and investor sentiment was in the “medium greed” zone.
MicroStrategy bought 51,780 BTC for $4.6 Billion
MicroStrategy announced the acquisition of 51,780 BTC worth $4.6 billion at a price of $88,627 between November 11 and November 17, 2024.
As of November 17, 2024, MicroStrategy controls 331,200 BTC, which are valued at about $16.5 billion, with an average purchase price of $49,874. The company’s founder Michael Saylor added that the company’s profitability from the first cryptocurrency for the quarter is 20.4%, and for the year – 41.8%.
As of November 17, 2024, MicroStrategy controls 331,200 BTC, which is valued at about $16.5 billion, with an average purchase price of $49,874. The company’s founder Michael Saylor added that the company’s profitability from the first cryptocurrency for the quarter is 20.4%, and for the year – 41.8%.
New All-Time High for Solana
On November 22, Solana price reached $264.39 at one point. According to the community, this jump is mainly due to positive expectations in connection with the possible launch of a spot Solana-ETF after the inauguration of Donald Trump. Also this week, it became known that another counterparty, Bitwise, is preparing to apply for registration of such a product.
At the time of writing, Solana is trading at $245.
Logan Paul Accused of Organizing Crypto Pump and Dump Schemes
The BBC has published an article in which the authors accused blogger, podcaster, and athlete Logan Paul of deceiving subscribers. He allegedly repeatedly carried out Pump and Dump schemes, promoting various crypto assets among his community.
According to the publication, in 2021, Paul actively promoted some memecoins. One of them is the Elongate token. After the blogger mentioned it, the rate of this asset rose by 6000%, reaching a historical maximum.
A certain crypto wallet, the address of which was not disclosed by the BBC, received a large tranche from the main account, presumably belonging to Paul, in February 2021. In May, shortly before the rate finally collapsed, this wallet bought and then sold an unspecified amount of Elongate, the publication emphasized.