Author: Coin Telegraph

A governance proposal to rebrand decentralized finance lending and borrowing protocol Sky back to Maker was rejected in a vote dominated by a handful of whales. “Sky ecosystem governance has concluded an onchain vote to continue using the Sky brand as the primary backend protocol of the ecosystem,” the DeFi protocol team said in a post on X on Nov. 8.It added that the decision “supports the ongoing transition from MKR to SKY and establishes Sky as the core brand.”The governance vote opened on Nov. 4 and was recently concluded with the “Keep the Sky brand as the backend protocol brand”…

Bitcoin’s 11% rally to $89,500 on Nov. 11 has pushed United States spot Bitcoin exchange-traded funds (ETFs), MicroStrategy Inc (MSTR) and Coinbase Global Inc (COIN) to a record $38 billion in combined daily trading volume.The record day far surpassed the previous high of around $25 million set in March amid Bitcoin (BTC) breaking through a long-held price peak, according to Bloomberg Intelligence data cited by Bloomberg ETF analyst Eric Balchunas.“Lifetime records being set all over the place,” Balchunas said. He noted that BlackRock’s iShares Bitcoin Trust ETF (IBIT) alone saw a record $4.5 billion in trading volume.“[This] points to a…

Cardano (ADA) price staged a solid rebound in the last four days, rising by over 33.7% to reach an intraday $0.436 on Nov. 8 as the market gathered strength following Donald Trump’s win in the United States 2024 Presidential Election. ADA price is up 17% over the last 24 hours, outperforming the rest of the market, and up 28% over the last seven days. ADA/USD daily chart. Source: TradingViewLet’s look at the factors driving the ADA price up today.ADA price rises alongside Bitcoin, EthereumThe bullish sentiment was not only exclusive to Cardano as crypto prices also rallied across the board, buoyed…

Analysts are eying an Ether rally above $3,200, driven by a growing risk appetite after Donald Trump’s victory in the United States presidential election.On Nov. 6, Trump was declared the winner of the election, securing his second term as US president.Inflows into spot Ether (ETH) exchange-traded funds (ETFs) turned positive after the US election results, with the ETFs seeing $52.3 million in net positive inflows on Nov. 6 and $79.7 million on Nov. 7, Farside Investors data shows.Ether ETF inflows in US dollars (millions). Source: Farside InvestorsThe ETF inflows, along with a growing investor appetite boosted by the Republican victory,…

Cryptocurrency loans are soaring in value, marking a potential warning sign for crypto markets amid post-election investor optimism.“High-risk” decentralized finance (DeFi) loans have soared since the United States presidential election, according to data shared by IntoTheBlock in a Nov. 6 X post.High-risk DeFi loans are collateralized by volatile assets that are within 5% of their liquidation threshold, and they are often used by investors to capitalize on potential price volatility.High-risk DeFi Loans. Source: IntoTheBlockWhile mass liquidations of high-risk DeFi loans can have an effect on the wider cryptocurrency market, they won’t necessarily tank crypto prices, according to Alexander Sudeykin, co-founder…

Bitcoin (BTC) has risen by around 6.75% to reach a new record high of around $81,845 on Nov. 11.BTC/USD daily price chart. Source: TradingViewTrump reelection sends crypto market soaring Today’s Bitcoin gains are part of a broader rally across the crypto market, driven by President-elect Donald Trump’s supportive stance on digital assets and the potential for a pro-crypto Congress.Trump’s victory in Arizona secured a clean sweep of the seven US battleground states, leading to a decisive win in the presidential election. On the campaign trail, he had pledged to position the US as a global leader in the digital-asset industry,…

Shiba Inu (SHIB) has jumped by over 78.50% year-to-date to reach $0.0000191 on Nov. 8, underperforming most of its top memecoin rivals, such as Dogecoin (DOGE) and Pepe (PEPE), which have climbed by over 115% and 668% in the same period.DOGE/USD daily price chart. Source: TradingViewIt is now showing potential to rally toward its 2024 highs, per a mix of technical and fractal indicators.A 90% SHIB price boom next?The first major signal for a SHIB price rally comes from the ongoing formation of a cup-and-handle pattern.A cup and handle is a bullish chart pattern, named for its distinctive shape, which…

Galaxy Digital’s stock is set for bigger gains after Donald Trump’s Nov. 5 win in the United States presidential election sets the stage for more institutional cryptocurrency adoption, according to a Nov. 8 analyst report shared with Cointelegraph.Galaxy shares rose 25% on Nov. 5 after Republican candidate Trump’s election win sparked the crypto trading firm’s biggest trading day of the year. The price jump was “in response to the election of U.S. President-Elect Trump, who had made a pro-crypto stance part of his campaign platform, with the potential for increased institutional adoption of crypto,” according to the report, written by…

While decentralized finance (DeFi) technology is advancing within the Web3 space, a crypto executive said the sector still has a long way to go.At the recent Binance Blockchain Week in Dubai, Agne Linge, a former director of Binance Lithuania who now works with Web3 projects WeFi and Yellow Network, told Cointelegraph that while regulations in jurisdictions like Europe have addressed centralized exchanges and wallet providers, DeFi remains largely “out of scope.” Linge said for DeFi to achieve broader adoption, industry regulations must be deployed. Linge told Cointelegraph: “If you want adoption, we need regulation. We need people to feel safe and to…

Bitcoin is breaking records as a weekend BTC price surge delivers almost $82,000 to start the week.Bitcoin traders see BTC price upside continuing despite some concerns that a retracement may reach frightening proportions.Macroeconomic data releases continue to come thick and fast as United States presidential election fever gives way to the ongoing inflation narrative.After months of frustration, Bitcoin traders are finally seeing BTC/USD catch up with gold.BTC price gains may be impressive, but in percentage terms, there is still a long way to go before November 2024 matches historical average gains.Mainstream interest is picking up, but just like in Bitcoin’s…