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Crypto News Today: Top 7 News Updates

Crypto News Today: What Prediction Markets Are Forecasting for Crypto in 2024

Crypto News Today: The article discusses prediction markets in the context of crypto, where participants bet on real-world events. These markets, increasingly integrated with crypto, offer insights into future trends like airdrops and potential IPOs. With traders financially invested, these markets provide a more accountable forecast compared to traditional analysis.

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Bulls quickly returned to crypto

The cryptocurrency market saw a 3.5% increase in capitalization to $1.61 trillion, with Bitcoin nearing $43K and an eight-day high of $43.4K. Despite a recent decline in crypto fund investments, trading activity remains high. External factors include rising Bitcoin network fees and legislative concerns, alongside a surge in Solana’s smartphone resale due to a meme-token airdrop.

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Last week’s big winners: Injective, Nugget Rush, Render and BONK

INJ, NUGX, RNDR, and BONK shine in the cryptocurrency market, with NuggetRush’s presale nearing $1 million and Bonk’s 150% rally. Injective saw a 50% price rise this week, followed by Render’s 20% rally. Bonk is the week’s top winner, soaring by 150%. NuggetRush nears $1 million in presale sales and is tipped for a 65x rise after launch.

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FTX files plan to end bankruptcy, pay crypto creditors billions

FTX Trading’s latest proposal aims to return billions to creditors and customers in its bankruptcy case. The plan, pending details and approval, involves liquidating cryptocurrencies for cash distribution. This follows Sam Bankman-Fried’s conviction for fraud leading to FTX’s collapse. The plan’s finalization depends on creditor votes and a US bankruptcy judge’s approval.

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FTX is losing $1.3 million a day on bankruptcy fees

FTX, the failed crypto exchange wrested away from Sam Bankman-Fried last year, has been billed over a million dollars a day on its bankruptcy, according to recent court filings. FTX is being charged around $1.3 million a day on bankruptcy fees, court documents show. The failed crypto exchange was billed at least $118 million in the three months ending October 31.

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When Will the Ripple (XRP) Price Explode? Top Recent Predictions

XRP experienced an 80% rise in price this year, boosted by Ripple’s partial legal wins and crypto market revival. It’s currently consolidating around $0.60, with predictions of further growth before year’s end. Analysts foresee significant potential gains for XRP. Predictions include a 1,500% increase on breaking key resistance and possibly surpassing $0.85 soon, with chances of exceeding $1. Patrick Riley predicts a downturn for Ethereum could favor XRP, with expectations of XRP reaching around $22 and potentially becoming the top cryptocurrency.

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Latest crypto super PACs draw $78M influx of cash for friendly politicians 

Crypto-focused super PACs, including Fairshake, Protect Progress, and Defend American Jobs, have raised $78 million to support candidates favoring digital asset innovation and regulation in the 2024 elections. Supported by major crypto players like Coinbase and Ripple, these PACs reflect the crypto industry’s growing efforts to influence US policy and regulatory decisions.

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