Daily Crypto News Nov 25, 2021: BTC builds support near $53K

The cryptocurrency market has attracted the attention of just not investors and traders but the different niche around this space has also encouraged several artists to churn digital money. Non-fungible tokens (NFTs) have become a great source of income for various digital creators. Christie, a famous auction house is now in talks with collaboration with a very well-known NFT marketplace, OpenSea. This auction is open to browsing for the users from December 1 to December 3rd and is open to bidding from December 4 to December 7. This is a great opportunity for all art lovers to buy and sell some crazy digital assets. Read more about the digital auction below. 

The crypto market has suffered some serious volatility in the past few days. The leading cryptocurrency in terms of market capitalization, Bitcoin has suffered a serious blow since it achieved its all-time high of $69K. Although there have been multiple sell-offs and corrections in the prices, technical analysts believe that there is still some hope for Bitcoin to continue its bullish streak. Experts see the $53K zone as a major support zone for Bitcoin (BTC) and consider it of great psychological significance. Read what the crypto analysts have to say about the BTC price action below. 

World’s largest crypto exchange, Binance came into the spotlight all of sudden when Tesla CEO, Elon Musk raised some grave concern’s about the exchange’s Dogecoin issue. Elon Musk called the issue shady and called for action on behalf of all the DOGE holders. The tweet by Elon Musk received quite attention from everyone and both Binance CEO and the official social handle of the exchange had to react to it. Read what happened with Binance and why Elon Musk called it shady below. 

Before we dive into what’s happening around the globe in the crypto sector let’s quickly move to the top gainers and losers for the day. 

Crypto Market Trend  November 25, 2021 

Top 3 Crypto Gainers 

Cryptocurrency	Price (latest by November 25, 2021)	Change in %
Chiliz (CHZ)	₹39.78	36.49%
Curve (CRV)	₹457.25	34.31%
The Sandbox (SAND)	₹553.65	27.61%

*Prices are latest by 10:30 AM November 25, 2021.*

Top 3 Crypto Losers

No cryptocurrency trading in red at the time of writing.

*Prices are latest by 10:30 AM November 25, 2021.*

Daily Crypto News  Nov 25, 2021

Christie’s to Hold Ethereum NFT Auction On OpenSea

Christie, the famous Auction house is partnering with the NFT marketplace OpenSea for digital art exhibitions. To establish its strong foothold as a place for digital auctions, Christie has partnered with OpenSea, an NFT marketplace for auctions of digital art series starting December 1. The event shall last for a week. The users are open to browsing from December 1 to December 3 and can put their bids on from December 4, 2021, to December 7, 2021.  This collaboration is going to be hosted on the official website of OpenSea and the payments can be made using Ethereum. 

Read more on Christie’s Ethereum NFT auction here. 

Source: Decrypt.co

Is Bitcoin Building strong support Near $53K? 

After experiencing an All-time high of $69K, Bitcoin prices have been facing multiple sell-offs thereby pushing the prices lower. After multiple price movements, Bitcoin dropped below $56K on November 18 before it rose back to $61K on November 21. However, Bitcoin again corrected its movement and fell back to $55K, a six-week low on 23rd November. However, technical crypto analysts believe that it is a key support level for Bitcoin. Experts believe that $53K is also the price of  BTC at a 1 trillion bitcoin market cap which is of great psychological significance to traders and investors. Read more on the Bitcoin $53K support level to take a more informed and better decision. 

Source: Forbes

Binance’s Dogecoin problem called “Shady” by Elon Musk

SpaceX and Tesla CEO, Elon Musk has raised some grave concerns around the Dogecoin issues of the cryptocurrency exchange Binance. Elon Musk called for action on behalf of other DOGE holders. He said that DOGE holders using Binance must be protected from errors that are not their own. The tweet made by Elon Musk received a lot of attention and Both Zhao, CEO of Binance and the official Twitter account of the exchange responded to the query. Although the official account did deny the fact that the issue was shady, they did agree that it was a little frustrating and they are working on it. 

Read more on why Elon Musk called Binance’s Dogecoin issue shady and what repercussion it had on the other DOGE holders. 

Source: Bitcoin.com

DCX News 

CoinDCX lists three platform tokens IOTX, QNT, and NEAR today. Read about the coins below to take a more informed decision.

Know your Coin Better 

• IoTex (IOTX)

IoTex aims to empower the open economics for machines where people and machines can interact with guaranteed trust and free will.

With a team of 40 research scientists and engineers, it built its EVM compatible blockchain from scratch using the Roll-DPoS mechanism.

It is the decentralized backbone that serves machines ranging from autonomous vehicles to smart home devices.

 

• Near Protocol (NEAR)

NEAR Protocol is a decentralized application designed to make apps usable on the web.

It uses a PoS (Proof-of-stake) mechanism called Nightshade aiming at stable fees and scalability.

NEAR token is used for governance, running validator nodes, and as fees during transactions and storing data.

 

• Quant (QNT)

Quant comes with an aim to connect networks and blockchains on a global scale without minimizing interoperability and efficiency.

It is built as an operating system distributed ledger technology as well as overledger network to connect different blockchain networks.

Quant’s OS, Overledger acts as a gateway for any blockchain-based projects to access other blockchains. It also works as a connecting medium between other applications within the same blockchain, similar to Ethereum.

 

Source: CoinMarketCap