Originally published on: November 15, 2024
Experts predict that Bitcoin could surpass $100,000 by the end of November, following its record-breaking $90,000 high in what has been a historic month for the cryptocurrency market.
In light of the growing demand for risk-on assets, President-elect Donald Trump is reportedly considering a crypto-friendly chair for the Commodity Futures Trading Commission (CFTC). Summer Mersinger, a pro-crypto advocate, is being considered for the position.
Analysts suggest that Bitcoin’s long-awaited $100,000 milestone could be achieved this month based on historical patterns and increased investor interest since the US elections.
Trump’s transition team is exploring current and former CFTC officials for the chair position, with Summer Mersinger being among the potential candidates.
The positive market sentiment and growing institutional interest in cryptocurrencies have resulted in higher long-term allocations to digital assets. Sygnum Bank’s Future Finance survey indicates a stronger appetite for crypto among institutional investors.
Conflux Foundation has announced a $500 million investment in PayFi, a Web3 payments solution that aims to bring traditional finance services to the blockchain, enhancing the value network.
At Near’s Redacted conference, Edward Snowden highlighted the importance of decentralization, warning about the influence of venture capital on blockchain projects. He referenced Solana as an example of a project heavily reliant on VC funding.
Most of the top 100 cryptocurrencies saw gains this week, with memecoins like Peanut the Squirrel and Pepe leading the way. Total value locked in DeFi platforms continues to rise, indicating sustained growth in the decentralized finance space.
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