From the assessment that Bitcoin may not see an adjustment until it surpasses the $100,000 mark to BitGo launching its subsidiary in Singapore to expand services in the Asia-Pacific (APAC) region, here are some notable news updates in the crypto market.
Renowned crypto analyst PlanB believes that Bitcoin (BTC) may not see an adjustment until it crosses the six-figure threshold.
This anonymous trader told his 2 million followers on the X platform that Bitcoin holders appear to be selling before the $100,000 price target.
According to the analyst, the profit-taking means there will not be a significant drop around the six-figure target.
"Who is selling Bitcoin? The sellers are the profit-takers. On average, those who sold in November sold at over 60% profit (in red) with a cost basis of $55,000. People expect a big drop around $100,000 and are front running. This means there will be no big drop around $100,000."
Realized profit/loss is a metric that shows the total profit or loss of a Bitcoin investment based on the price the asset last moved.
Next, the analyst said Bitcoin's Relative Strength Index (RSI), a tool used to analyze whether an asset is overbought or oversold, has not yet reached a peak based on previous bull market cycles, suggesting the uptrend will continue.
He also shared a chart on the realized value, which tracks the value of all BTC at the current price they were last moved on-chain, divided by the circulating supply. The chart shows Bitcoin is holding support levels seen over the past two years, prices the top digital asset has held firm during previous bull market cycles.
"The RSI is currently at 74 (yellow/orange)... The 2-year realized value (gray line) is rising sharply, just like at the start of the 2013, 2017, 2020/21 bull markets. The 2-year realized value is currently around $60,000. In a bull market, Bitcoin never drops below the 2-year realized value."
As Bitcoin prices have surged, the total net asset value of Bitcoin spot ETFs in the US has also exceeded $100 billion.
12 Bitcoin ETFs, including those from BlackRock and Fidelity, launched in January, reached the $100 billion milestone in just 10 months.
The Binance exchange has warned its community about false claims circulating on social media about the platform.
The company stressed that these tokens are not verified or authorized by Binance, and could potentially lead to scams and financial harm for users.
"Please verify information through Binance's official channels. Be cautious of unverified tokens. Protect yourself by doing your own research and staying up to date," Binance advised, noting that suspicious activities should be promptly reported to maintain the safety of the community and the crypto space.
Bithumb, the second-largest cryptocurrency exchange in South Korea, has added support for the Korean won market for TONCOIN (TON) and METIS (METIS).
According to the announcement, trading has opened at 18:00 today, November 21 (Vietnam time).
Digital asset service provider BitGo has launched a subsidiary in Singapore to expand services in the Asia-Pacific (APAC) region.
In addition to other services, BitGo Singapore provides cold storage wallet services for over 1,100 digital assets, voice trading, automated payments, and token management for investment firms, protocols, and other institutions.
"BitGo is committed to providing our clients with the highest quality products and services while maintaining rigorous management standards. We look forward to further strengthening the digital asset ecosystem in the APAC region," said Youngro Lee, CEO of BitGo Singapore, in a statement.
Coinbase Wallet users can now earn 4.7% APY on USDC holdings as the platform expands its rewards program globally.
In a press release, the new feature allows users to earn rewards on USDC without a lock-up period, with monthly payouts directly to their wallets on the Base network.
The program is available in most regions worldwide and is rolling out to US users this week.
USDC holders can deposit and receive payments fee-free on the Base network. The stablecoin is designed to maintain a fixed 1:1 peg to the US dollar, enabling instant cross-border payments.
The rewards program supports USDC balances held in Coinbase Wallet across multiple blockchain networks including Base, Ethereum, Arbitrum, Avalanche C-Chain, Polygon, and Optimism.
Valantis Labs, the developer behind the decentralized exchange (DEX) protocol Valantis, has raised $7.5 million in seed and pre-seed funding rounds.
The $3.5 million pre-seed round was raised in April 2023, while the $4 million seed round closed in September 2024, co-founder of Valantis Labs Deven Matthews said.
Cyber Fund and Kraken Ventures co-led the pre-seed round, while SevenX Ventures led the seed round. Other participants included Semantic Ventures, Figment Capital, Robot Ventures, Anthony Sassano, and Sandeep Nailwal.
Both rounds were structured as Simple Agreements for Future Equity (SAFEs) with token purchase rights. Matthews added that the pre-seed round valued Valantis at $20 million, while the seed round doubled that valuation to $40 million.
Aethir (ATH) has partnered with LayerZero (ZRO), a cross-chain interoperability protocol. With LayerZero, Aethir (ATH) will become a multi-chain asset, originating from multiple chains simultaneously. Furthermore, Aethir will transition to a multi-chain network infrastructure, enabling the upcoming migration of Aethir DePIN to Sophon's ZK chain.
Aethir is a decentralized GPU cloud infrastructure, positioned as a GPU-as-a-Service provider focused on enterprise-grade AI and gaming, designed specifically for the AI and gaming sectors.
Supported by Framework Ventures, Merit Circle, Hashkey, Animoca Brands and other companies, Aethir has raised over $32 million for its ecosystem.
The company has raised around $111 million through the sale of Nodes on Impossible Finance. The current ATH price is $0.058 with a fully diluted market capitalization (FDV) of $2.49 billion.
Justin Sun buys "banana taped to wall" artwork for $6.2 million and plans to eat it
In a surprising move combining art, pop culture and cryptocurrency, Justin Sun, the founder of TRON, announced the purchase of Comedian, Maurizio Cattelan's banana taped to the wall artwork, at an auction for $6.2 million.
On social media, Sun expressed his excitement at owning this artwork, calling it a "cultural phenomenon" that connects the art world, memes and the crypto community. Sun emphasized the importance of the work, noting that it has the potential to spark discussions and inspire future generations.
Furthermore, Sun revealed his plan to personally eat the banana in the coming days as part of a "unique artistic experience" to honor the value of the work in art history and pop culture.
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Viet Cuong
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