News & Research

U.S.-based cryptocurrency exchange Kraken announced on Nov. 4 that it has listed AIN, the native token of the decentralized artificial intelligence project Infinity Ground. The project, which previously secured a strategic investment from crypto market maker DWF Labs, also recently announced it had joined the Nvidia Inception Program. In July, Infinity Ground released a Korean-language version of its white paper.

A sell-side trading curb, known locally as a “sidecar,” was triggered on the Korea Exchange’s KOSPI market. It temporarily halts program sell orders when volatility spikes. This is the second activation this year, following April 7.

CoinMarketCap's Altcoin Season Index has climbed four points from yesterday to 28. The index defines an altcoin season as a period when 75% of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens, outperform Bitcoin over the preceding 90 days. A score closer to 100 indicates conditions favorable to altcoins. The current reading of 28 suggests that market performance still favors Bitcoin over the broader altcoin market.

Bitwise Chief Investment Officer (CIO) Matt Hougan predicted in an interview with CNBC that selling pressure from retail investors is nearly exhausted and that Bitcoin is likely to form a bottom soon. He noted that institutional interest remains high and inflows into ETFs are continuing. Hougan added that it is still possible for BTC to reach between $125,000 and $130,000 by the end of this year, though it remains to be seen whether it can surpass $150,000.

An address suspected of belonging to Richard Heart, founder of the crypto project HEX, has moved 27,449 ETH to a new address and is now transferring the funds to Tornado Cash, Onchain Lens reported.

Franklin Templeton has filed an amended S-1 application for its spot XRP ETF with the U.S. Securities and Exchange Commission (SEC), Bloomberg ETF analyst James Seyffart reported via X.

Cryptocurrency exchange Gemini is preparing to launch a prediction market, Bloomberg reported, citing sources familiar with the matter. Prediction markets allow users to bet on the outcomes of specific events, such as sports games and elections. According to the report, Gemini is accelerating its preparations to launch the service as soon as possible. Sources indicated that the company is considering offering prediction contracts through a Designated Contract Market (DCM) license, for which it has previously applied to the U.S. Commodity Futures Trading Commission (CFTC). However, the CFTC has not yet approved the application, a process that could take up to several years.

Julio Moreno, a senior analyst at CryptoQuant, noted on X that Bitcoin has fallen below its 365-day moving average on the daily chart. He observed that this same event occurred in 2022 and marked the beginning of a major bear market. Moreno added that it is now a crucial moment to see whether the price can rebound quickly.

The Independent Community Bankers of America (ICBA) has sent a letter to the U.S. Office of the Comptroller of the Currency opposing an application by Coinbase to establish a federally regulated trust bank through a subsidiary, Cointelegraph reported. The association argued that if Coinbase's subsidiary were to establish the trust, unproven elements such as cryptocurrency custody could negatively impact the traditional financial system. The ICBA also stressed that the proposed trust would be unable to maintain profitability during a crypto bear market.

Nasdaq-listed Bitcoin mining firm MARA Holdings reported third-quarter revenue of $252 million, a 92% increase year-over-year, according to Decrypt. The company also posted a net income of $123 million, a significant turnaround from the $124 million loss recorded in the same period last year.