Cryptocurrencies To Watch

Author: Chris Lion

  • Prediction Platform Kalshi Sees Bitcoin at $158,000 in 2025

    Prediction Platform Kalshi Sees Bitcoin at $158,000 in 2025

    The prediction market platform Kalshi has predicted that the world’s largest cryptocurrency by market capital will surge to approximately $158,000 by 2025. This projection aligns with growing optimism about bitcoin’s (BTC) long-term potential.

    Kalshi is a regulated exchange and prediction market where users can trade on the outcome of real-world events. With the recent surge in BTC, Kalshi noted that the odds of the crypto asset rising above $150,000 have climbed from 13% to 58% in the past 14 days.

    “The odds of Bitcoin rising above $150,000 in 2025 have jumped from 13% to 58% in just 2 weeks,” the platform stated.

    Can BTC Exceed $125,000 Next Year?

    The prediction platform also stated an increasing 77% probability that the digital asset will exceed the $125,000 mark next year. Kalshi further added that bitcoin has more room to run.

    Following Donald Trump’s victory as president of the United States, bitcoin climbed from a previous record of roughly $69,000 to an all-time high of over $99,600 within 14 days of the U.S. election. However, at the time of publication, the crypto asset is down 1.09% in the last 21 hours, changing hands at over $95,100.

    While BTC struggles to recover from the recent pullback, American television personality, author, entertainer, and former hedge fund manager Jim Cramer called the crypto asset a “winner.”

    Investors Predicting BTC Price

    Several investors and entities have also predicted the price of BTC, fueling hope for the future of the leading cryptocurrency. Analysts from the famous investment research firm Bernstein predicted that BTC would surge to $200k before 2025 runs out. They stated that the leading crypto is firmly established among different individual and institutional investors across countries.

    Similarly, Bitwise CIO Matt Hougan noted that the U.S. dollar does not need to collapse for BTC to break the $200,000 mark. He also stated that Bitcoin’s current market cap is about 8% of gold’s. Therefore, if it matures to reach the same capitalization as gold, it would trade around $400,000.

  • Shiba Inu Lead Claims Burning of 99% of SHIB Circulating Supply is Possible

    Shiba Inu Lead Claims Burning of 99% of SHIB Circulating Supply is Possible

    The Shiba Inu (SHIB) community has been buzzing following recent claims made by Shytoshi Kusama, the lead developer of the popular memecoin. In a recent statement, Kusama noted that it is entirely possible to burn 99% of the circulating supply of SHIB but emphasized that there are more important price catalysts.

    Kusama stated that burning 99% of SHIB seemed impossible a year ago, but with numerous projects uniting to tackle this monumental challenge, it is now within the realm of possibility.

    Downsides of Increased Burn Drawbacks

    In addition, the lead added a condition to the ambitious burn goal, noting that such a significant burn rate could only occur if more projects, or a few major ones, adopted the Shiba Inu ecosystem’s tech stack.

    Meanwhile, the pseudonymous Shiba Inu lead pointed out that higher burn rates could affect the ecosystem. Kusama further noted that while burns increase, the price of SHIB could also rise.

    Consequently, acquiring Shiba Inu could ultimately become too expensive, hindering the burn rates. The lead then stressed that burning SHIB isn’t the sole focus, highlighting that there are numerous other avenues for the Shiba Inu ecosystem to thrive.

    While burning tokens can effectively impact a token’s value, it has its critics. Some argue that it is a speculative strategy that doesn’t guarantee long-term value growth, as it does not necessarily address the token’s adoption.

    Means of Boosting Shiba Inu’s Price

    Kusama also mentioned that promoting adoption is a more lasting approach to increasing Shiba Inu’s price and strengthening its ecosystem. The lead said that if the memecoin establishes a practical use case, the ecosystem will flourish to the point where users won’t need to burn their tokens.

    Kusama had previously noted the crucial role of mainstream adoption for the Shiba Inu ecosystem. According to a report, the lead asserted that broader utility for Shiba Inu would drive up prices and attract major centralized exchanges to the ecosystem.  

    The lead pointed out that the Shiba Inu ecosystem introduced liquid staking and other innovative features based on the premise of adoption. He also emphasized that developing new use cases for Shiba Inu and other tokens within the ecosystem is just as crucial.

  • Ripple Partners Archax to Bring abrdn Money Market Fund to the XRP Ledger

    Ripple Partners Archax to Bring abrdn Money Market Fund to the XRP Ledger

    Ripple has partnered with Archax, a digital asset exchange, broker, and custodian regulated by the United Kingdom’s Financial Conduct Authority (FCA), to provide access to a money market fund from the UK asset manager abrdn on the XRP Ledger (XRPL).

    The latest move represents a significant step in unlocking operational cost savings and improving settlement efficiencies through capital markets infrastructure on the XRP Ledger. The milestone also comes from a continued partnership between Archax and Ripple.

    Since 2022, Archax has been utilizing Ripple’s digital asset custody solutions. As more investors store their tokenized money market fund units on the XRP Ledger, Ripple Custody is leveraging its extensive experience with leading institutional clients and regulated entities to facilitate the tokenization, storage, exchange, and transfer of value.

    Ripple Plans to Invest $5M in Tokens

    According to an official report, Ripple plans to invest $5 million in tokens from abrdn’s Lux fund. This investment is part of a broader initiative where Ripple will allocate funds to real-world assets (RWAs) on the XRP Ledger in collaboration with various asset managers.

    The launch of abrdn’s money market fund on the XRP Ledger showcases the tokenization of real-world assets to improve operational efficiencies and solidify the XRPL as a top blockchain for real-world asset tokenization.

    Over $1B in Tokenized Money Market Funds

    The report also noted that tokenized money market funds have already surpassed $1 billion in assets under management, with some forecasts predicting that the value of tokenized assets could soar to $16 trillion by 2030, highlighting a growing demand in the market.

    Commenting on the latest move, Duncan Moir, Senior Investment Manager, abrdn, said:

    “The next evolution of financial market infrastructure will be driven by the broader adoption of digital securities, real benefits are to be had from leveraging the efficiency of moving the end-to-end investment and cash settlement process on-chain.” 

    Moir added that the XRP Ledger is a proven platform, offering institutional-grade features, cost-effectiveness, and integrated compliance capabilities. The executive stated that Ripple and Archax’s collaboration will achieve a significant milestone.

    “There is no question that the on-chain economy is gaining traction. By working with companies like Archax, we are excited to help financial institutions like abrdn to seize the incredible opportunity represented by blockchain and digital assets technology to deliver utility at scale,” said Markus Infanger, Senior Vice President of RippleX.

  • Tether Mints Additional $3 Billion in USDT Amid Market Surge

    Tether Mints Additional $3 Billion in USDT Amid Market Surge

    Tether, the issuer of the USDt stablecoin, has minted an additional $3 billion in tokens. The increase brings the total circulating supply of USDT to over $132.5 billion, cementing its status as the largest stablecoin by market capitalization.

    According to Arkham Intelligence, $2 billion worth of USDt was minted on the Ethereum blockchain, while another $1 billion was issued on the Tron network in consecutive transactions.

    Roughly $13M USDt Minted

    Data from Lookonchain revealed that Tether has minted roughly $13 billion in USDt since November 8. On November 24, Tether CEO Paolo Ardoino also noted that in 2025, Tether will achieve hyper-productivity to realize its grand vision.

    Traders and investors frequently view stablecoin activity as an indicator of market interest. A significant increase in newly issued stablecoins is often interpreted as a positive signal for potential price growth, whereas lower issuance tends to suggest weaker market momentum.

    The additional USDT supply is expected to provide more liquidity to the crypto market, particularly in trading pairs that rely on the stablecoin. Analysts suggest that this influx of liquidity could further fuel the current market rally, as traders easily leverage USDT to enter or exit positions.

    BTC Expected to Hit $100,000 Level

    Following Donald Trump’s election on November 5, BTC prices skyrocketed from approximately $69,000 to a record-breaking high of over $99,000 within two weeks of the United States elections. However, the crypto asset slightly dropped during the weekend and is currently trading at over $98.500.

    With the crypto asset nearing the $100, 000 mark, investors have predicted several outcomes concerning the digital asset. Bitcoin developer and cypherpunk Adam Back, noted that the price of BTC could hit $1 million if a Bitcoin strategic reserve is established under the incoming Trump administration.

    Also, on November 19, President-elect Trump appointed Howard Lutnick, CEO of Cantor Fitzgerald and crypto advocate, as commerce secretary. Cantor Fitzgerald oversees the U.S. Treasury reserves that back Tether’s USDt stablecoin.  A few days after Lutnick’s cabinet appointment, Fitzgerald revealed it acquired a 5% stake in Tether, valued at approximately $600 million.

  • Allianz Acquires 24% of MicroStrategy’s $2.6B Notes

    Allianz Acquires 24% of MicroStrategy’s $2.6B Notes

    Germany’s largest insurance company, Allianz, has reportedly acquired a 24% stake in MicroStrategy’s recently issued $2.6 billion convertible notes. These notes are part of MicroStrategy’s ongoing capital-raising efforts to expand its Bitcoin holdings.

    Allianz executed the transaction through four separate affiliated entities, as revealed by Bloomberg Terminal data cited by pseudonymous analyst Petruschki in a post on X.

    “The positions were filed in July and October. The shares are held by the following sub-organizations: Allianz Global Investors Luxembourg 14.34%, Allianz Global Inv Of America LP 6.64%, Nicholas Applegate Cap MGMT Inc 3.74%, and AllianzbGlobal investors GMBH 0.04%,” Petruschki said.

    The latest move comes as the business intelligence company announced plans to raise $2.6 billion from senior convertible notes at a 0% interest rate to purchase more BTC. The move further cemented the company’s commitment to the digital asset as a long-term investment strategy.

    MicroStrategy Completes $3B Note

    According to MicroStrategy, the note sale was increased from the initially planned offering of $1.75 million in aggregate principal amount of notes on November 18, 2024.

    According to a press release, MicroStrategy also secured $3 billion in funding through a note offering on November 21. Initial buyers acquired the total allocation of additional notes.

    The company’s strategic focus on Bitcoin has attracted attention from institutional investors like Allianz, which views such investments as a hedge against inflation and a way to capitalize on the growing digital asset market.

    MicroStrategy’s recently secured capital could propel Bitcoin to surpass its $100,000 milestone, potentially within the month, as projected by Ryan Lee, the lead analyst at Bitget Research.

    As BTC nears the $100,000 mark, crypto investors have profited from the market. As of the time of writing, the crypto asset is trading at $97,600, with a market capitalization of over $1.9 trillion.

    Mara Holdings Raises $1B For More BTC

    MicroStrategy is not the only company that has raised funds to acquire more BTC. Recently, crypto mining and blockchain technology company Mara Holdings completed a $1 billion offering of 0% convertible senior notes due in 2030. The firm also plans to use the proceeds for strategic investments, operational growth, and the acquisition of more BTC.

  • FTX Releases Timeline for Creditor and Client Reimbursements

    FTX Releases Timeline for Creditor and Client Reimbursements

    Bankrupt cryptocurrency exchange FTX has unveiled its timeline for repaying creditors and former clients. This reimbursement payment is scheduled to be finalized in January 2025. Distributions are set to commence within 60 days following the specified deadline.

    According to a recent announcement, the defunct exchange will coordinate reimbursement payments with distribution agents in early December, entrusting them with overseeing the payout process and managing the customer payout portal.

    Commenting on the announcement, John J. Ray III, CEO and Chief Restructuring Officer of the FTX Debtors, said:

    “We are pleased to announce that we will begin distributing proceeds in early 2025. The timeline laid out reflects the experience and continued work of the team of professionals supporting the Debtors, who already have recovered billions of dollars on behalf of FTX’s creditors and customers.”

    Customers to Provide KYC

    Ray III further noted that FTX will continue to take actions to maximize recoveries. The company is ahead of schedule in reaching arrangements with its distribution agents and returning proceeds to creditors and customers as quickly as possible.

    To be eligible for distribution on the initial distribution date, customers must set up an approved account with a Distribution Agent, complete Know-Your-Customer (KYC) verification, and provide the required tax forms before the distribution record date.

    Following the approval of the FTX reorganization plan by a U.S. judge in early October, some creditors remained dissatisfied, prompting the FTX bankruptcy estate to launch several lawsuits to recover more assets.

    FTX Lawsuits Against Crypto Exchanges

    In October, the FTX estate intensified its legal actions against crypto exchanges, starting with a lawsuit against KuCoin. The lawsuit accused the crypto exchange of holding assets belonging to the bankruptcy estate.

    The lawsuit aimed to recover approximately $50 million in assets reportedly locked on the exchange since FTX’s collapse in 2022. Subsequently, in November 2024, FTX filed another complaint against Crypto.com to recover $11 million in funds.

    Similarly, on November 9, 2024, FTX filed a lawsuit against Anthony Scaramucci and SkyBridge Capital, seeking to recover $100 million spent on sponsorships and investment agreements between Scaramucci and former FTX CEO Sam Bankman-Fried.

    Recently, the collapsed exchange filed a lawsuit against leading crypto exchange Binance and its former CEO and co-founder, Changpeng Zhao (CZ). FTX seeks to recover $1.8 billion, which it claimed was fraudulently transferred to Binance.

  • Mara Holdings Raises $1B Through Convertible Notes to Acquire Bitcoin

    Mara Holdings Raises $1B Through Convertible Notes to Acquire Bitcoin

    Mara Holdings (formerly Marathon Digital), a crypto mining and blockchain technology firm, has completed a $1 billion offering of 0% convertible senior notes due in 2030. The firm plans to use the proceeds for strategic investments, operational growth, and buying more BTC.

    Mara Holdings noted that the total principal value of the notes issued during the offering reached $1 billion, incorporating $150 million in notes issued through an exercised purchase option.

    The company further stated that the notes would be offered to persons reasonably believed to qualify as institutional buyers under Rule 144A of the Securities Act. Mara Holdings also noted that it will give a 13-day window starting from the date the notes were initially issued to the original buyers under the terms of the purchase agreement. The buyers fully utilized this option on November 19, 2024, with the additional transaction finalized on November 20, 2024.

    Mara to Purchase Additional BTC

    The increase in the note offering indicates growing institutional confidence in BTC as the crypto asset reached a new high. The digital asset is currently trading at above $97,400, up 3.82% in the last 24 hours.

    Mara plans to allocate approximately $199 million of the net proceeds from the note offering to buy back $212 million in total principal value of its outstanding convertible notes maturing in 2026.

    The notes will not accrue regular interest, and their principal value will remain unchanged. The company said it will retain the option to pay special interest, if applicable, as the exclusive remedy for non-compliance with its reporting obligations or under specific conditions outlined in the indenture. Any special interest, if applicable, will be disbursed semi-annually in arrears.

    Noteholders have the right to demand that MARA repurchase all or part of their notes for cash either on December 1, 2027 or if specific events occur that qualify as a fundamental change under the terms of the indenture. The repurchase price will equal 100% of the notes’ principal value, along with any accrued and unpaid special interest up to, but not including, the repurchase date.

    Institutions to Secure More BTC

    The announcement comes after leading business intelligence company MicroStrategy plans to raise $2.6 billion from senior convertible notes at a 0% interest rate to acquire more BTC. The note sale was increased from the initially announced offering of $1.75 billion in aggregate principal amount of notes.

    Starting December 4, 2026, and contingent upon specific conditions, MicroStrategy can repurchase some or all of the notes for cash at a price equivalent to 100% of their principal value, along with any accumulated and unpaid special interest.

  • MicroStrategy Raises Note Sales to $2.6B for Bitcoin Acquisitions

    MicroStrategy Raises Note Sales to $2.6B for Bitcoin Acquisitions

    MicroStrategy, a leading business intelligence firm and one of the largest corporate holders of Bitcoin, has announced that it has raised its convertible note offering. This move further cements the company’s commitment to the crypto asset as a long-term investment strategy.

    MicroStrategy noted that it plans to raise $2.6 billion from senior convertible notes at a 0% interest rate to acquire more BTC. The note sale was increased from the initially announced offering of $1.75 billion in aggregate principal amount of notes.

    According to the announcement, the notes will be offered privately, exclusively to individuals reasonably believed to qualify as institutional buyers under Rule 144A of the Securities Act.

    MicroStrategy to Raise More Cash

    The $2.6 billion note offering is directed at qualified institutional buyers and is anticipated to be finalized on November 21, pending the fulfillment of standard closing requirements.

    The increase in the note offering indicates growing institutional confidence in Bitcoin. Investors appear willing to back MicroStrategy’s bold strategy as BTC nears the $100,000 mark.

    MicroStrategy’s move comes when bitcoin is experiencing renewed bullish momentum, hovering over $94,100. At the time of publication, the crypto asset is up 2.46% in the last 24 hours.

    The business intelligence company also gave the notes’ initial buyers a three-day window to acquire up to an additional $400 million in total principal value.

    Starting December 4, 2026, and contingent upon specific conditions, MicroStrategy can repurchase some or all of the notes for cash at a price equivalent to 100% of their principal value, along with any accumulated and unpaid special interest.

    If MicroStrategy opts to repurchase only a portion of the outstanding notes, a minimum of $75 million in total principal value must remain unredeemed as the redemption notice is issued.

    MicroStrategy Holds $30.3B in BTC

    The announcement comes after MicroStrategy plans to raise $1.75 billion from senior convertible notes at a 0% interest rate to acquire additional bitcoin. The company intends to use the net proceeds from the offering to purchase additional BTC and support various general corporate objectives.

    MicroStrategy, led by executive chairman Michael Saylor, has solidified its position as a top player in BTC acquisition. The company currently holds 331,200 bitcoins, valued at over $30.3 billion, after acquiring an additional $4.6 billion in BTC on November 18.

  • Solana Sees $11.84M in Daily Transaction Fees as Memecoin Frenzy Surges

    Solana Sees $11.84M in Daily Transaction Fees as Memecoin Frenzy Surges

    Solana’s daily transaction fees soared to $11.84 million on November 19, marking a new single-day record driven by a surge in memecoin activity.

    According to on-chain data from DeFiLlama, the network’s revenue reached $5.92 million. With the latest $11.84 million fee transaction, Raydium (RAY), Solana’s largest decentralized exchange (DEX), also recorded roughly $15 million in fees for two consecutive days, with daily revenue of about $1 million.

    The report further noted that Solana MEV infrastructure Jito (JTO) achieved a new milestone as its fees soared to $15.55 million, generating $622,000 in revenue and setting a record high. Additionally, Solona’s meme coin launch platform recorded $2.46 million in fees and revenue on the same day, setting a new single-day benchmark.

    Meanwhile, at the time of writing, SOL is trading at $230, down over 4.4% in the last 24 hours.

    Over $7M in Transaction Fees

    Fueled by the rising interest in meme coins, Solana has experienced an unprecedented surge in network activity. On October 24, 2024, the network generated $3.81 million in daily revenue, with total transaction fees amounting to $7.63 million.

    Solana’s low transaction costs and scalability have also made it a preferred destination for projects transitioning from other blockchains. These projects seek to capitalize on the booming memecoin market and the platform’s economic advantages.

    As the memecoin craze continues to gain momentum, Solana’s advanced infrastructure is well-positioned to support its ongoing expansion. However, the long-term viability of this growth will depend on the network’s capacity to broaden its applications and effectively address potential challenges.

    Record-Breaking Fees for Solana’s Protocols

    Over time, Solana’s protocols have recorded millions of dollars in daily transaction fees. For instance, on November 17, Solana’s automated market maker, Raydium, reached a historic milestone with $11.79 million in daily transaction fees, setting a new record for the platform.

    Similarly, Jito, a protocol focused on liquid staking, generated $7.89 million in fees, marking its third-highest daily performance, according to data from DeFiLlama.

    The report comes as Solana’s decentralized exchange (DEX) trading volume has skyrocketed to a record-breaking $78.24 billion monthly volume, marking a significant increase of 31% from its previous all-time high of $59.79 billion. With November still underway, users may anticipate the volume continuing to grow, surpassing the $100 billion milestone.

  • Liquor Store LQR House to Buy $1M in Bitcoin: Adoption

    Liquor Store LQR House to Buy $1M in Bitcoin: Adoption

    LQR House Inc., a niche e-commerce platform specializing in the spirits and beverage industry, has announced that its Board of Directors has approved purchasing up to $1 million in Bitcoin (BTC) as part of its treasury management plan.

    The platform aims to establish itself as a leading wine and spirits e-commerce player, mainly through its flagship marketplace, cwspirits.com. The company offers a wide selection of emerging, premium, and luxury spirits, wines, and champagnes from respected retail partners like Country Wine & Spirits.

    LQR House Dives Into Digital Asset

    The company will also enable crypto transactions on CWSpirits.com, allowing customers to buy alcohol with digital currencies. In conjunction with this move, LQR House has implemented a policy to hold up to $10 million of these crypto payments in BTC, demonstrating the firm’s belief in digital assets’ long-term value and potential.

    Commenting on the latest move, Sean Dollinger, CEO of LQR House, said:

    “As Bitcoin continues to gain traction as an accepted asset class, we see a unique opportunity to strengthen our treasury with an innovative investment, in our opinion, Bitcoin’s inherent scarcity and finite supply position it as a modern hedge against inflation and a safe haven in times of economic uncertainty.” 

    The firm noted that it believes that the crypto asset aligns with its forward-thinking strategy and complements its mission to drive innovation across all aspects of its business.

    LQR House functions as a technology-driven hub, utilizing software, data analytics, and artificial intelligence to elevate the consumer experience.

    BTC as Part of LQR House’s Strategy

    While Bitcoin will now be integrated into LQR House’s strategy, the company remains dedicated to its core operations. The firm’s commitment includes carrying out the previously outlined cost-reduction measures to improve profitability and working closely with its new board members to establish and execute the most efficient strategies for long-term growth.

    According to LQR House Inc., the platform will closely track its Bitcoin assets to ensure they align with market trends and the company’s liquidity requirements.