🌙 Bitcoin Blasts to $90K

The wild swing in crypto prices liquidated over $900 million of leveraged derivatives trading positions across all digital assets, CoinGlass shows.

Author

Mike Gavela
November 12, 2024

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Crypto Roundup - November 12

Bitcoin’s price surge has reached a new high of $90,000, fueled by a significant shakeout of leverage traders in the crypto markets, drawing global attention to the sector's volatility. El Salvador’s Bitcoin holdings now exceed $500 million, affirming its commitment to the cryptocurrency as a national asset, while Bhutan quietly builds a substantial Bitcoin position, potentially making waves in the crypto community. Meanwhile, Ethereum researcher Justin Drake has introduced the “Beam Chain,” a reimagined consensus layer that aims to enhance the network's efficiency and scalability, signaling significant shifts ahead for Ethereum.

Top Stories

  • Bitcoin price surges to $90,000 as market volatility drives major leverage shakeouts.

  • El Salvador’s Bitcoin stash surpasses $500 million, while Bhutan’s holdings gain interest.

  • Ethereum researcher Justin Drake reveals the "Beam Chain," a new consensus model.

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TOP STORIES

Bitcoin Blasts to $90K as Crypto Rally Shakes Out $900M of Leveraged Bets

Crypto prices continue melting upwards since Donald Trump's election victory as investors reprice digital assets in anticipation of a friendlier government.

www.coindesk.com/markets/2024/11/12/bitcoin-blasts-to-90k-as-crypto-rally-shakes-out-leverage-traders

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.

www.coindesk.com/markets/2024/11/12/el-salvadors-bitcoin-stash-rises-above-500m-but-bhutan-story-might-be-even-bigger

Top Ethereum Researcher's Dramatic Proposal Draws Standing-Room-Only Crowd in Bangkok

The Beam Chain groups a number of big-ticket upgrades, including native zero-knowledge proof support and fast finality, into a single Ethereum upgrade. Just don't call it "Ethereum 3.0."

www.coindesk.com/tech/2024/11/12/ethereum-researcher-justin-drake-introduces-beam-chain-a-total-redesign-of-the-networks-consensus-layer

FUNDRAISING

OKX Ventures Invests in Corn: an Ethereum Layer 2 Network Built for BTCfi

Singapore, November 12, 2024 — OKX Ventures, the investment arm of the global onchain technology company OKX, today announced its…

okxventures.medium.com/okx-ventures-invests-in-corn-an-ethereum-layer-2-network-built-for-btcfi-56a25e4580c1

OTHER HEADLINES

Doodles NFTs Soar on McDonald’s Collaboration - "The Defiant"

The fast food giant posted a teaser, with more information to be revealed next week.

thedefiant.io/news/nfts-and-web3/doodles-nfts-soar-on-mcdonald-s-collaboration

Moonshot Memecoin App Hits All-time High Daily Revenue - "The Defiant"

The retail-focused memecoin trading app surpassed $100,000 in daily revenue for the first time since its launch.

thedefiant.io/news/defi/moonshot-memecoin-app-hits-all-time-high-daily-revenue

Pendle Announces Leveraged Yield Tokenization Platform - "The Defiant"

Pendle's upcoming leveraged yield trading platform, Boros, aims to pioneer funding rate tokenization.

thedefiant.io/news/defi/pendle-announces-leveraged-yield-tokenization-platform

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