November has come to an end, and it’s time to look back at the most significant events and individuals in the world of cryptocurrencies that have left their mark this month. In this review, we’ll discuss the significant fluctuations in Bitcoin’s price, the steady growth of Ethereum, innovations from leading crypto exchanges, and the attention-grabbing figures. Get ready to learn more about what’s happening in the crypto industry and how these events could impact the future of the market.
Bitcoin and Ethereum
In November 2024, Bitcoin’s price surged, nearing the $100,000 mark. However, this was followed by a sharp correction, with the price dropping to around $96,000. This steep decline caused concern among investors but also highlighted the importance of caution when investing in cryptocurrencies. Ethereum continued to show steady growth thanks to new updates and improvements in the network. Decentralized finance (DeFi) on the Ethereum platform continued to develop, attracting new users and investors.
Coinbase, Binance, and Kraken
Coinbase introduced a new index, COIN50, which includes the top 50 cryptocurrencies by market capitalization. This index allows investors to easily and effectively invest in the cryptocurrency market, offering a diversified approach. Additionally, Coinbase launched several new cryptocurrencies, including Degen (DEGEN), Moonwell (WELL), ZKSync (ZK), and EigenLayer (EIGEN).
Binance launched a new technology, Fractal BTC Mining, which allows users to simultaneously mine Bitcoin and receive rewards in the form of Fractal Bitcoin (FB). Binance also introduced new cryptocurrencies such as Pepe Unchained (PEPU), CatSlap (SLAP), and Crypto All-Stars (STARS).
Kraken implemented new technologies, including improved security mechanisms and new asset management features. They also introduced new tools for trading automation and enhanced analytical tools for investors.
Elon Musk, Sam Bankman-Fried, Christine Lagarde
In November 2024, Elon Musk continued to significantly influence cryptocurrencies. His support for Dogecoin and other cryptocurrencies led to significant price fluctuations. Musk also won a court case against the Securities and Exchange Commission (SEC), allowing him to continue his activities in cryptocurrencies without additional sanctions.
Sam Bankman-Fried, founder of FTX, was in the spotlight due to a legal dispute with Binance. FTX filed a lawsuit against Binance, demanding the return of nearly $1.8 billion, which was allegedly transferred illegally. Bankman-Fried was sentenced to 25 years in prison for fraud and money laundering.
Christine Lagarde, managing director of the European Central Bank, spoke at a cryptocurrency forum in November 2024. In her speech, she discussed the potential of cryptocurrencies and their role in the future financial system, emphasizing the importance of regulation and consumer protection.
What’s New at RevenueBot?
Several interesting materials have been published in the blog:
Trade on the Spot Market with RevenueBot Support!
Trump’s Victory and Bitcoin’s Historic High
Changes in Profit Percentage When Executing Safety Orders
Stochastic in RevenueBot: What every trader needs to know
Happy trading!