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#Crypto News

Top Cryptocurrencies: 7 Latest Updates Of Crypto

Top cryptocurrencies to watch this week: XRP, ADA, SHIB

The global cryptocurrency market cap receded 3% to $1.59 trillion. XRP struggled amidst market corrections, while Cardano (ADA) hit a 19-month high and Shiba Inu (SHIB) surged late in the week. These mixed performances reflect the volatile nature of the crypto market, with significant fluctuations even among top cryptocurrencies.

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2 Cryptocurrencies That Are Down 70% and Ready to Pop

In 2023, top cryptocurrencies, including Bitcoin and Solana, significantly recovered, with gains over 100% and 650% respectively. Despite these rallies, they remain 70% below peak values. Bargain cryptos like Avalanche and Chainlink stand out, both trading at over 70% discounts. Their unique features and growth potential make them notable.

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Blockchain-based private loans hit $582M, doubling from 2022

In 2023, blockchain-based lending saw a significant resurgence, with a 128% increase in tokenized private credit, reaching $582 million. Major players like Fasanara Capital and Brazilian bank Divibank are engaging in this market, with Ethereum-based Centrifuge leading in active loans. Despite growth, blockchain lending remains a small fraction of the traditional private credit market.

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FTX Files Plan to End Bankruptcy, Pay Crypto Creditors Billions

FTX Trading Ltd. proposed a reorganization plan to return billions to creditors and customers, still unresolved on key aspects like restarting its exchange and valuing digital tokens. Creditors will vote on the plan next year before seeking final approval from a U.S. Bankruptcy Judge. The plan follows FTX founder Sam Bankman-Fried’s fraud conviction.

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Altcoin season: Polkadot and Litecoin HODLers exploring Pullix

The altcoin market is trending upwards, with Polkadot (DOT) outperforming Chainlink and Polygon, and Litecoin (LTC) witnessing a surge in active addresses. Investors are eyeing new projects like Pullix, a DeFi platform in presale. Pullix aims to offer a user-focused trading solution with unique features like a “Trade-to-Earn” model.

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Crypto investment products saw outflows, ending an 11-week run of inflows

Last week marked a shift in the crypto market, ending an 11-week inflow trend with major outflows, particularly in the U.S. and Germany. Bitcoin faced the largest outflows, while altcoins like Solana, Cardano, XRP, and Chainlink saw inflows. Despite this, blockchain stocks continued to attract significant investment, suggesting a positive outlook.

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FTX loses $53K every hour on ‘bankruptcy fees,’ latest filings show

FTX has been spending approximately $53,000 per hour on bankruptcy lawyers and advisers. From August to October, the total fees amounted to $118.1 million, with the largest bill from Alvarez and Marshall at $35.8 million. Sullivan & Cromwell and other firms also charged significant amounts, raising concerns about excessive fees and inefficiencies.

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