Solana

Bitcoin

Change

MultiversX

<h2 id="span-data-font-font-size-style-font-size-20px-top-5-cryptocurrency-with-biggest-24-hour-losses-br-span">Top 5 Cryptocurrency with Biggest 24-Hour Losses </h2>
TOP 5 Losers Coins
<table class="table border text-center table-bordered data-table">
 <thead>
 <tr>
 <th class="border-0">Indices</th>
 <th class="border-0">LTP</th>
 <th class="border-0">Change (%)</th>
 </tr>
 </thead>
 <tbody>
 <tr>
 <td>MultiversX</td>
 <td class="text-black">$44.05</td>
 <td class="text-danger">7.19%</td>
 </tr>
 <tr>
 <td>THORChain</td>
 <td class="text-black">$3.32</td>
 <td class="text-danger">5.35%</td>
 </tr>
 <tr>
 <td>Solana</td>
 <td class="text-black">$39.89</td>
 <td class="text-danger">4.79%</td>
 </tr>
 <tr>
 <td>Immutable</td>
 <td class="text-black">$0.8823</td>
 <td class="text-danger">4.76%</td>
 </tr>
 <tr>
 <td>Sui</td>
 <td class="text-black">$0.4906</td>
 <td class="text-danger">4.73%</td>
 </tr>
 </tbody>
</table>
<h3 id="span-span-data-font-font-size-style-font-size-18px-crypto-news-key-highlights-span-span">Crypto News Key Highlights:</h3>
Bitcoin (BTC) held steady around $35,000 while altcoins led a weekend rally. Analysts speculate the <a href="https://www.coingabbar.com/en/price-analysis/bitcoin-price-analysis-cmp-dollar-btc-tense-fed-decision-looms" class="f-link" rel="noopener noreferrer nofollow">Fed</a> might cut rates in March 2024 due to disappointing job data. The next Bitcoin halving coincides with April 2024, adding potential fuel to its rally. CME FedWatch Tool shows a 25.9% chance of a rate cut in March. Over 700,000 new BTC addresses were created, a promising indicator for price prediction. Capital inflows into the crypto market exceeded $10 billion in the last month, indicating strong investor confidence.
In the previous week, the S&amp;P 500 surpassed Bitcoin and Ethereum with a remarkable 6% gain in just four days. The Fed's decision to keep the current interest rate contributed to a significant stock price surge, while BTC and ETH maintained levels above $35,000 and $1,900.
Tether (USDT) continues its reign as the leading stablecoin with a record-breaking supply of 84 billion, marking a 22% YoY increase and an all-time high. This growth may be attributed to increased market recovery and decreased trust in other stablecoins like USDC. USDT remains the preferred choice for most users.
<a href="https://www.coingabbar.com/en/crypto-currency-news/major-tether-laundering-ring-busted-in-china-twenty-one-arrested" class="f-link" rel="noopener noreferrer nofollow">Tether </a> (USDT) CEO Paolo Ardoino highlighted the company's strong financials and global use as an inflation hedge. Tether maintains its mission of providing a stablecoin pegged to the U.S. dollar, recently generating $700 million in profit. Despite scrutiny, the company is working proactively with law enforcement agencies and has no plans to go public. They aim to diversify and become a comprehensive tech provider.
Pantera Capital founder Dan Morehead predicts a significant correction in equities markets, with the S&amp;P 500 possibly falling by 23%. He anticipates continued Fed rate hikes due to wage inflation and worker strikes, potentially leading to flat or underperforming equities. In contrast, Morehead suggests that crypto and real commodities may outperform in this environment.
Government and regulators are mulling stricter crypto regulations, including potential bans. They advocate for eco-friendly central bank digital currencies (CBDCs) to mitigate macroeconomic risks. The IMF and Financial Stability Board proposed minimal standards for G20 nations, allowing higher restrictions. Central bank governor Shaktikanta Das views cryptocurrencies as a "serious threat" and urges a deeper understanding before regulation. The G20 leadership appreciates a synthesis paper as a starting point for managing crypto risks.
The potential approval of a Bitcoin ETF has not only driven up Bitcoin's price but has also reinvigorated interest in blockchain games, according to Animoca Brands founder Yat Siu. He believes confidence in the Web3 gaming market is reflected in token values and on-chain activity, highlighting the importance of looking beyond token prices for growth indicators. Siu sees Bitcoin as the reserve currency of Web3 but anticipates the crypto sector will eventually outgrow its reliance on it.
Global currencies held steady, poised for further gains, as the US dollar nursed losses after the Federal Reserve's dovish stance. The dollar index was flat at 105.11, while the euro traded at $1.0726. World stocks had a strong week due to expectations that the Fed was done raising rates. Analysts expect this trend to continue in November, but caution that dollar strength could re-emerge, depending on various factors like economic improvements in the euro zone and China. <a href="https://www.coingabbar.com/en/price-analysis/xrp-price-analysis-cmp-dollar-will-ripples-conflict-sec-cryptocurrency-end-today" class="f-link" rel="noopener noreferrer nofollow">Cryptocurrencies</a>, led by Bitcoin, also benefited from the expected end of central bank tightening cycles and the possibility of new spot Bitcoin ETFs.
Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-nov-crypto-gains-momentum-after-ftx-ruling" class="f-link" rel="noopener noreferrer nofollow">24 Crypto Update, 05 Nov: Crypto Gains Momentum After FTX Ruling</a>

Crypto Daily Roundup, 05 Nov: "Altcoins Thrive, Bitcoin Remains Calm"

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